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Consolidated Statements Of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
[1]
Jun. 30, 2018
Jun. 30, 2017
[1]
REVENUES:        
Natural gas sales $ 1,024 $ 1,022 $ 2,086 $ 2,034
NGL sales 2,141 1,487 4,171 3,033
Crude sales 4,241 2,345 7,495 4,887
Gathering, transportation and other fees 1,667 1,111 3,097 2,176
Refined product sales 4,818 2,903 8,628 5,918
Other 227 559 523 1,040
Total revenues 14,118 9,427 26,000 19,088
COSTS AND EXPENSES:        
Cost of products sold 11,343 7,167 20,588 14,677
Operating expenses 772 648 1,496 1,249
Depreciation, depletion and amortization 694 607 1,359 1,235
Selling, general and administrative 183 173 331 338
Impairment losses 0 89 0 89
Total costs and expenses 12,992 8,684 23,774 17,588
OPERATING INCOME 1,126 743 2,226 1,500
OTHER INCOME (EXPENSE):        
Interest expense, net of interest capitalized (510) (477) (976) (950)
Equity in earnings of unconsolidated affiliates 92 49 171 136
Losses on extinguishments of debt 0 0 (106) (25)
Gains (losses) on interest rate derivatives 20 (25) 72 (20)
Other, net (1) 57 56 74
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE 727 347 1,443 715
Income tax expense from continuing operations 68 33 58 71
INCOME FROM CONTINUING OPERATIONS 659 314 1,385 644
Loss from discontinued operations, net of income taxes (26) (193) (263) (204)
NET INCOME 633 121 1,122 440
Less: Net income (loss) attributable to noncontrolling interest 278 (91) 404 (11)
NET INCOME ATTRIBUTABLE TO PARTNERS 355 212 718 451
General Partner’s interest in net income 1 0 2 1
Convertible Unitholders' interest in income 12 8 33 14
Limited Partners’ interest in net income $ 342 $ 204 $ 683 $ 436
INCOME FROM CONTINUING OPERATIONS PER LIMITED PARTNER UNIT:        
Basic $ 0.31 $ 0.20 $ 0.63 $ 0.41
Diluted 0.31 0.19 0.63 0.40
NET INCOME PER LIMITED PARTNER UNIT:        
Basic 0.31 0.19 0.62 0.40
Diluted $ 0.31 $ 0.18 $ 0.62 $ 0.39
[1] As adjusted. See Note 1.