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Investments Investments (Notes) | 12 Months Ended
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Dec. 31, 2019
Investments [Abstract] |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | Investments Our investments primarily consist of equity investments where we hold significant influence over investee actions and for which we apply the equity method of accounting. The following table provides details on our investments as of December 31, 2019 and 2018, and our earnings (losses) from these respective investments for the years ended December 31, 2019, 2018 and 2017 (in millions):
| Ownership Interest |  | Equity Investments |  | Earnings (Losses) from Equity Investments
| December 31, |  | December 31, |  | Year ended December 31,
| 2019 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2017
Citrus Corporation | 50% |  | $ | 1,856 |  |  | $ | 1,708 |  |  | $ | 157 |  |  | $ | 169 |  |  | $ | 108 |
SNG | 50% |  | 1,473 |  |  | 1,536 |  |  | 140 |  |  | 141 |  |  | 77 |
NGPL Holdings LLC(a) | 50% |  | 721 |  |  | 733 |  |  | 81 |  |  | 66 |  |  | 10 |
Gulf Coast Express Pipeline LLC | 34% |  | 656 |  |  | 240 |  |  | 37 |  |  | 2 |  |  | — |
MEP | 50% |  | 439 |  |  | 235 |  |  | 15 |  |  | 31 |  |  | 38 |
Gulf LNG(b) | 50% |  | 361 |  |  | 361 |  |  | 17 |  |  | (61 | ) |  | 47 |
Plantation Pipe Line Company | 51% |  | 348 |  |  | 344 |  |  | 58 |  |  | 55 |  |  | 46 |
Utopia Holding LLC | 50% |  | 335 |  |  | 333 |  |  | 20 |  |  | 14 |  |  | — |
Permian Highway Pipeline | 27% |  | 309 |  |  | 45 |  |  | — |  |  | — |  |  | — |
EagleHawk | 25% |  | 285 |  |  | 299 |  |  | 17 |  |  | 7 |  |  | 24 |
Watco Companies, LLC | (c) |  | 185 |  |  | 185 |  |  | 19 |  |  | 21 |  |  | 19 |
FEP(d) | 50% |  | 102 |  |  | 44 |  |  | 59 |  |  | 55 |  |  | (97 | )
Ruby(e) | (f) |  | 41 |  |  | 750 |  |  | (609 | ) |  | 26 |  |  | 44 |
Cortez Pipeline Company | 53% |  | 26 |  |  | 15 |  |  | 35 |  |  | 36 |  |  | 44 |
All others |  |  | 622 |  |  | 653 |  |  | 55 |  |  | 55 |  |  | 68 |
Total investments |  |  | $ | 7,759 |  |  | $ | 7,481 |  |  | $ | 101 |  |  | $ | 617 |  |  | $ | 428 |
Amortization of excess cost |  |  |  |  |  |  | $ | (83 | ) |  | $ | (95 | ) |  | $ | (61 | )
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(a) | Investment in NGPL Holdings LLC (NGPL) includes a related party promissory note receivable with a principal amount of $500 million as of December 31, 2019. On October 1, 2019, NGPL issued a non-cash related party promissory note with a principal amount of $500 million as a capital distribution. The related party promissory note accrues interest at 6.75% and is payable quarterly. From the issuance of the related party promissory note receivable through December 31, 2019, we recognized $8.4 million of interest within “Earnings from equity investments” on our accompanying consolidated statement of income.
(b) | The loss from Gulf LNG for the year ended December 31, 2018 includes our share of earnings recognized due to a ruling by an arbitration panel affecting a customer contract. 2018 amount also includes a non-cash impairment charge of $270 million (pre-tax) driven by this ruling. See Note 4 for more information.
(c) | We hold a preferred and common equity investment in Watco Companies, LLC. We own 100,000 Class A and 50,000 Class B preferred shares and pursuant to the terms of the investment, receive priority, cumulative cash and stock distributions from the preferred shares at a rate of 3.25% and 3.00% per quarter, respectively. Neither class holds any voting powers, but do provide us certain approval rights, including the right to appoint one of the members to Watco’s board of managers. In addition to the senior interests, we also hold approximately 13,000 common equity units, which represents a 3.0% common ownership.
(d) | The loss from FEP for the year ended December 31, 2017 amount includes a non-cash impairment charges of $150 million (pre-tax) related to our investment. See Note 4 for more information.
(e) | The loss from Ruby for the year ended December 31, 2019 amount includes a non-cash impairment charges of $650 million (pre-tax) related to our investment. See Note 4 for more information.
(f) | We operate Ruby and own the common interest in Ruby, the sole owner of the Ruby Pipeline natural gas transmission system. Pembina Pipeline Corporation (Pembina) owns the remaining interest in Ruby in the form of a convertible preferred interest. If Pembina converted its preferred interest into common interest, we and Pembina would each own a 50% common interest in Ruby.
Summarized combined financial information for our significant equity investments (listed or described above) is reported below (in millions; amounts represent 100% of investee financial information):
|  | Year Ended December 31,
Income Statement |  | 2019 |  | 2018 |  | 2017
Revenues |  | $ | 4,906 |  |  | $ | 4,898 |  |  | $ | 4,406 |
Costs and expenses |  | 3,508 |  |  | 3,245 |  |  | 3,219 |
Net income |  | $ | 1,398 |  |  | $ | 1,653 |  |  | $ | 1,187 |
|  | December 31,
Balance Sheet |  | 2019 |  | 2018
Current assets |  | $ | 1,195 |  |  | $ | 1,422 |
Non-current assets |  | 24,743 |  |  | 22,615 |
Current liabilities |  | 2,125 |  |  | 2,683 |
Non-current liabilities |  | 9,670 |  |  | 9,484 |
Partners’/owners’ equity |  | 14,143 |  |  | 11,870 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SX 210.3A-04) -URI http://asc.fasb.org/extlink&oid=116822174&loc=d3e355119-122828 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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