XML 38 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
Acquisitions and Related Transactions (Tables)
 12 Months Ended
Dec. 31, 2016
Disposal Groups, Including Discontinued Operations [Table Text Block]
The following tables present the aggregate carrying amounts of assets and liabilities classified as held for sale in the consolidated balance sheet:
 
 
December 31, 2016
 
December 31, 2015
Carrying amount of assets classified as held for sale:
 
 
 
 
Cash and cash equivalents
 
$
20

 
$
25

Inventories
 
188

 
171

Other current assets
 
83

 
10

Property, plant and equipment, net
 
2,185

 
1,899

Goodwill
 
1,568

 
1,988

Intangible assets, net
 
503

 
535

Other non-current assets, net
 
2

 
19

Total assets classified as held for sale in the Consolidated Balance Sheet
 
$
4,549

 
$
4,647

 
 
 
 
 
Carrying amount of liabilities classified as held for sale:
 
 
 
 
Other non-current liabilities
 
68

 
67

Total liabilities classified as held for sale in the Consolidated Balance Sheet
 
$
68


$
67

The results of operations associated with discontinued operations are presented in the following table:
 
Years Ended
December 31,
 
2016
 
2015
 
2014
REVENUES
$
7,402

 
$
7,922

 
$
3,052

 
 
 
 
 
 
COSTS AND EXPENSES
 
 
 
 
 
Cost of products sold
6,020

 
6,574

 
2,553

Operating expenses
1,486

 
933

 
291

Depreciation and amortization
193

 
175

 
55

Selling, general and administrative
114

 
91

 
55

Total costs and expenses
7,813

 
7,773

 
2,954

OPERATING INCOME
(411
)
 
149

 
98

Interest expense, net
29

 
22

 
1

Other, net
8

 
(2
)
 
(1
)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE
(448
)
 
129

 
98

Income tax expense
31

 
48

 
32

INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES
$
(479
)
 
$
81

 
$
66

INCOME (LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE ATTRIBUTABLE TO ETE

$
(12
)
 
$
1

 
$
3
PennTex [Member]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
The total purchase price was allocated as follows:
 
 
At November 1, 2016
Total current assets
 
$
34

Property, plant and equipment
 
393

Goodwill(1)
 
177

Intangible assets
 
446

 
 
1,050

 
 
 
Total current liabilities
 
6

Long-term debt, less current maturities
 
164

Other non-current liabilities
 
17

Noncontrolling interest
 
236

 
 
423

Total consideration
 
627

Cash received
 
21

Total consideration, net of cash received
 
$
606

(1) 
None of the goodwill is expected to be deductible for tax purposes.
Susser Merger [Member]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
Summary of Assets Acquired and Liabilities Assumed
ETP accounted for the Susser Merger using the acquisition method of accounting which requires, among other things, that assets acquired and liabilities assumed be recognized on the balance sheet at their fair values as of the acquisition date.
The following table summarizes the assets acquired and liabilities assumed recognized as of the merger date:
 
 
Susser
Total current assets
 
$
446

Property, plant and equipment
 
1,069

Goodwill(1)
 
1,734

Intangible assets
 
611

Other non-current assets
 
17

 
 
3,877

 
 
 
Total current liabilities
 
377

Long-term debt, less current maturities
 
564

Deferred income taxes
 
488

Other non-current liabilities
 
39

Noncontrolling interest
 
626

 
 
2,094

Total consideration
 
1,783

Cash received
 
67

Total consideration, net of cash received
 
$
1,716

(1) 
None of the goodwill is expected to be deductible for tax purposes.
Eagle Rock Midstream Acquisition [Member]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The total purchase price was allocated as follows:
Assets
At July 1, 2014
Current assets
$
120

Property, plant and equipment
1,295

Other non-current assets
4

Goodwill
49

Total assets acquired
1,468

Liabilities
 
Current liabilities
116

Long-term debt
499

Other non-current liabilities
12

Total liabilities assumed
627

 
 
Net assets acquired
$
841

The fair values of the assets acquired and liabilities assumed were determined using various valuation techniques, including the income and market approaches.
PVR Acquisition [Member]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
Regency completed the evaluation of the assigned fair values to the assets acquired and liabilities assumed. The total purchase price was allocated as follows:
Assets
At March 21, 2014
Current assets
$
149

Property, plant and equipment
2,716

Investment in unconsolidated affiliates
62

Intangible assets (average useful life of 30 years)
2,717

Goodwill(1)
370

Other non-current assets
18

Total assets acquired
6,032

Liabilities
 
Current liabilities
168

Long-term debt
1,788

Premium related to senior notes
99

Non-current liabilities
30

Total liabilities assumed
2,085

Net assets acquired
$
3,947

(1)None of the goodwill is expected to be deductible for tax purposes.