v2.4.0.6
Related Party Transactions
 3 Months Ended
Mar. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions
 Related Party Transactions
 
Affiliated Balances

The following table summarizes our balance sheet affiliate balances (in millions):
 
 
March 31, 2013
 
December 31,
 2012
Balance sheet location
 
 
 
 
Accounts receivable, net of allowance
 
$
15

 
$
25

Assets held for sale (a)
 
—

 
114

Other current assets
 
5

 
14

Deferred charges and other assets
 
48

 
48

 
 
$
68

 
$
201

 
 
 
 
 
Current portion of debt – KMP and EPB (b)
 
$
5

 
$
5

Accounts payable
 
7

 
11

Long-term debt - Outstanding - KMP and EPB (b)
 
172

 
173

 
 
$
184

 
$
189

_______
(a)2012 amount related to KMP’s equity investment in the Express system (see Note 2).
(b)EPB has financing obligations payable to WYCO of which $5 million is included in “Current portion of debt – KMP and EPB” on our Consolidated Balance Sheets at each period end.

Notes Receivable
 
Plantation Pipe Line Company
 
KMP and ExxonMobil have a term loan agreement covering a note receivable due from Plantation Pipe Line Company. KMP owns a 51.17% equity interest in Plantation and its proportionate share of the outstanding principal amount of the note receivable was $49 million as of both March 31, 2013 and December 31, 2012.  The note bears interest at the rate of 4.25% per annum and provides for semiannual payments of principal and interest on December 31 and June 30 each year, with a final principal payment of $45 million (for KMP’s portion of the note) due on July 20, 2016.  We included $1 million of this note receivable balance within “Other current assets,” on our accompanying consolidated balance sheets as of both March 31, 2013 and December 31, 2012, and we included the remaining outstanding balance within “Deferred charges and other assets.”

Gulf LNG Holdings Group, LLC

In conjunction with the acquisition of EP, KMI acquired a long-term note receivable, bearing interest at 12% per annum, that was due from Gulf LNG Holdings Group, LLC, a 50% equity investee, with a remaining principal amount of $85 million. Subsequent to the EP acquisition and through the end of 2012, we received payments on this note totaling $75 million. We received payments for the remaining note balance of $10 million during the first quarter of 2013. The balance of $10 million at December 31, 2012 was included in our accompanying consolidated balance sheet within “Other current assets.”