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Investments (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments [Table Text Block] | 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, 2023 and 2022 and our earnings (loss) from these respective investments for the years ended December 31, 2023, 2022 and 2021:
| Ownership Interest |  | Equity Investments |  | Earnings (Loss) from Equity Investments
| December 31, |  | December 31, |  | Year Ended December 31,
| 2023 |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2021
|  |  | (In millions)
Citrus Corporation | 50% |  | $ | 1,789 |  |  | $ | 1,781 |  |  | $ | 143 |  |  | $ | 145 |  |  | $ | 151 |
SNG | 50% |  | 1,668 |  |  | 1,669 |  |  | 140 |  |  | 145 |  |  | 128 |
PHP | 27.74% |  | 763 |  |  | 666 |  |  | 70 |  |  | 70 |  |  | 63 |
NGPL Holdings(a) | 37.5% |  | 623 |  |  | 610 |  |  | 121 |  |  | 111 |  |  | 94 |
Gulf Coast Express Pipeline LLC | 34% |  | 566 |  |  | 597 |  |  | 93 |  |  | 91 |  |  | 86 |
Products (SE) Pipe Line Corporation | 51.17% |  | 369 |  |  | 348 |  |  | 65 |  |  | 51 |  |  | 48 |
MEP | 50% |  | 342 |  |  | 371 |  |  | 87 |  |  | 10 |  |  | (17) |
Utopia Holding LLC | 50% |  | 322 |  |  | 325 |  |  | 22 |  |  | 20 |  |  | 20 |
Gulf LNG Holdings Group, LLC | 50% |  | 275 |  |  | 311 |  |  | 25 |  |  | 24 |  |  | 22 |
EagleHawk | 25% |  | 273 |  |  | 273 |  |  | 18 |  |  | 13 |  |  | 8 |
Dos Caminos, LLC | 50% |  | 192 |  |  | — |  |  | — |  |  | — |  |  | — |
Red Cedar Gathering Company | 49% |  | 155 |  |  | 155 |  |  | 15 |  |  | 17 |  |  | 10 |
Watco Companies, LLC | (b) |  | 84 |  |  | 79 |  |  | 10 |  |  | 9 |  |  | 9 |
Cortez Pipeline Company | 52.98% |  | 30 |  |  | 31 |  |  | 25 |  |  | 30 |  |  | 29 |
Double Eagle(c) | 50% |  | 14 |  |  | 90 |  |  | (42) |  |  | 18 |  |  | 9 |
Ruby(d) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (116) |
All others |  |  | 409 |  |  | 347 |  |  | 46 |  |  | 49 |  |  | 47 |
Total investments |  |  | $ | 7,874 |  |  | $ | 7,653 |  |  | $ | 838 |  |  | $ | 803 |  |  | $ | 591 |
Amortization of excess cost |  |  |  |  |  |  | $ | (66) |  |  | $ | (75) |  |  | $ | (78) |
(a)Our investment in NPGL Holdings includes a related party promissory note receivable from NGPL Holdings with quarterly interest payments at 6.75%. As of December 31, 2023, we and Arclight each hold a 37.5% interest and Brookfield holds a 25% interest in NGPL Holdings. The outstanding principal amount of our related party promissory note receivable at both December 31, 2023 and 2022 was $375 million. For the years ended December 31, 2023, 2022 and 2021, we recognized $25 million, $25 million and $27 million, respectively, of interest within “Earnings from equity investments” on our accompanying consolidated statements of income. (b)We hold a preferred equity investment in Watco Companies, LLC (Watco). We own 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 3.00% per quarter. We do not hold any voting powers, but the class does provide us certain approval rights, including the right to appoint one of the members to Watco’s board of managers. (c)Loss for the year ended December 31, 2023 includes $67 million of our share of a non-cash impairment charge (pre-tax). For further information, see Note 4 “Losses and Gains on Divestitures, Impairments and Other Write-downs—Investments.” (d)As of January 13, 2023, we no longer own an interest in Ruby. The loss from our investment in Ruby for the year ended December 31, 2021 includes a non-cash impairment charge of $117 million related to a write-down of our subordinated note receivable from Ruby driven by the impairment by Ruby of its assets. For further information regarding our investment in Ruby, see Note 4 “Losses and Gains on Divestitures, Impairments and Other Write-downs—Investment in Ruby.” Summarized combined financial information for our significant equity investments (listed or described above) is reported below (amounts represent 100% of investee financial information):
|  | Year Ended December 31,
Income Statement |  | 2023 |  | 2022 |  | 2021(a)
|  | (In millions)
Revenues |  | $ | 5,981 |  |  | $ | 5,953 |  |  | $ | 5,521 |
Costs and expenses |  | 4,149 |  |  | 4,193 |  |  | 6,137 |
Net income (loss) |  | $ | 1,832 |  |  | $ | 1,760 |  |  | $ | (616) |
|  | December 31,
Balance Sheet |  | 2023 |  | 2022
|  | (In millions)
Current assets |  | $ | 1,844 |  |  | $ | 1,461 |
Non-current assets |  | 23,193 |  |  | 23,360 |
Current liabilities |  | 1,534 |  |  | 1,617 |
Non-current liabilities |  | 10,102 |  |  | 10,206 |
Partners’/owners’ equity |  | 13,401 |  |  | 12,998 |
(a)2021 amounts include a non-cash impairment charge of $2.2 billion recorded by Ruby.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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