REPORTABLE SEGMENTS:

As a result of the Energy Transfer Merger in October 2018, our reportable segments were reevaluated and currently reflect the following segments, which conduct their business primarily in the United States:

•intrastate transportation and storage;

•interstate transportation and storage;

•midstream;

•NGL and refined products transportation and services;

•crude oil transportation and services;

•investment in Sunoco LP;

•investment in USAC; and

•all other.

The investment in USAC segment reflects the results of USAC beginning April 2018, the date that the Partnership obtained control of USAC.

Revenues from our intrastate transportation and storage segment are primarily reflected in natural gas sales and gathering, transportation and other fees. Revenues from our interstate transportation and storage segment are primarily reflected in gathering, transportation and other fees. Revenues from our midstream segment are primarily reflected in natural gas sales, NGL sales and gathering, transportation and other fees. Revenues from our NGL and refined products transportation and services segment are primarily reflected in NGL sales and gathering, transportation, terminalling and other fees. Revenues from our crude oil transportation and services segment are primarily reflected in crude sales. Revenues from our investment in Sunoco LP segment are primarily reflected in refined product sales. Revenues from our investment in USAC segment are primarily reflected in gathering, transportation and other fees. Revenues from our all other segment are primarily reflected in natural gas sales.

We report Segment Adjusted EBITDA as a measure of segment performance. We define Segment Adjusted EBITDA as earnings before interest, taxes, depreciation, depletion, amortization and other non-cash items, such as non-cash compensation expense, gains and losses on disposals of assets, the allowance for equity funds used during construction, unrealized gains and losses on commodity risk management activities, non-cash impairment charges, losses on extinguishments of debt and other non-operating income or expense items. Unrealized gains and losses on commodity risk management activities include unrealized gains and losses on commodity derivatives and inventory fair value adjustments (excluding lower of cost or market adjustments). Segment Adjusted EBITDA reflects amounts for unconsolidated affiliates based on the Partnership’s proportionate ownership.

The following tables present financial information by segment:



	Years Ended December 31,
	2018			2017			2016
Revenues:
Intrastate transportation and storage:
Revenues from external customers	$	3,428		$	2,891		$	2,155
Intersegment revenues	309			192			458
	3,737			3,083			2,613
Interstate transportation and storage:
Revenues from external customers	1,664			1,112			1,143
Intersegment revenues	18			19			23
	1,682			1,131			1,166
Midstream:
Revenues from external customers	2,090			2,510			2,342
Intersegment revenues	5,432			4,433			2,837
	7,522			6,943			5,179
NGL and refined products transportation and services:
Revenues from external customers	10,119			7,885			5,764
Intersegment revenues	1,004			763			645
	11,123			8,648			6,409
Crude oil transportation and services:
Revenues from external customers	17,236			11,672			7,539
Intersegment revenues	96			31			—
	17,332			11,703			7,539
Investment in Sunoco LP:
Revenues from external customers	16,982			11,713			9,977
Intersegment revenues	12			10			9
	16,994			11,723			9,986
Investment in USAC:
Revenues from external customers	495			—			—
Intersegment revenues	13			—			—
	508			—			—
All other:
Revenues from external customers	2,073			2,740			2,872
Intersegment revenues	155			161			400
	2,228			2,901			3,272
Eliminations	(7,039		)	(5,609		)	(4,372		)
Total revenues	$	54,087		$	40,523		$	31,792



	Years Ended December 31,
	2018			2017			2016
Cost of products sold:
Intrastate transportation and storage	$	2,665		$	2,327		$	1,897
Midstream	5,145			4,761			3,381
NGL and refined products transportation and services	8,462			6,508			4,553
Crude oil transportation and services	14,439			9,826			6,416
Investment in Sunoco LP	15,872			10,615			8,830
Investment in USAC	67			—			—
All other	2,006			2,509			2,942
Eliminations	(6,998		)	(5,580		)	(4,326		)
Total cost of products sold	$	41,658		$	30,966		$	23,693



	Years Ended December 31,
	2018		2017		2016
Depreciation, depletion and amortization:
Intrastate transportation and storage	$	169	$	147	$	144
Interstate transportation and storage	334		254		246
Midstream	1,006		954		840
NGL and refined products transportation and services	466		401		355
Crude oil transportation and services	445		402		251
Investment in Sunoco LP	167		169		176
Investment in USAC	169		—		—
All other	103		227		204
Total depreciation, depletion and amortization	$	2,859	$	2,554	$	2,216



	Years Ended December 31,
	2018		2017			2016
Equity in earnings (losses) of unconsolidated affiliates:
Intrastate transportation and storage	$	19	$	(156	)	$	35
Interstate transportation and storage	227		236			193
Midstream	26		20			19
NGL and refined products transportation and services	64		33			41
Crude oil transportation and services	6		4			(4		)
All other	2		7			(14		)
Total equity in earnings of unconsolidated affiliates	$	344	$	144		$	270



	Years Ended December 31,
	2018			2017			2016
Segment Adjusted EBITDA:
Intrastate transportation and storage	$	927		$	626		$	613
Interstate transportation and storage	1,680			1,274			1,297
Midstream	1,627			1,481			1,133
NGL and refined products transportation and services	1,979			1,641			1,496
Crude oil transportation and services	2,330			1,379			834
Investment in Sunoco LP	638			732			665
Investment in USAC	289			—			—
All Other	40			187			97
Total Segment Adjusted EBITDA	9,510			7,320			6,135
Depreciation, depletion and amortization	(2,859		)	(2,554		)	(2,216		)
Interest expense, net	(2,055		)	(1,922		)	(1,804		)
Gains on acquisitions	—			—			83
Impairment losses	(431		)	(1,039		)	(1,040		)
Gains (losses) on interest rate derivatives	47			(37		)	(12		)
Non-cash compensation expense	(105		)	(99		)	(70		)
Unrealized gains (losses) on commodity risk management activities	(11		)	59			(136		)
Inventory valuation adjustments	(85		)	24			97
Losses on extinguishments of debt	(112		)	(89		)	—
Adjusted EBITDA related to unconsolidated affiliates	(655		)	(716		)	(675		)
Equity in earnings of unconsolidated affiliates	344			144			270
Impairment of investments in unconsolidated affiliates	—			(313		)	(308		)
Adjusted EBITDA related to discontinued operations	25			(223		)	(199		)
Other, net	21			155			79
Income from continuing operations before income tax (expense) benefit	3,634			710			204
Income tax (expense) benefit from continuing operations	(4		)	1,833			258
Income from continuing operations	3,630			2,543			462
Loss from discontinued operations, net of income taxes	(265		)	(177		)	(462		)
Net income	$	3,365		$	2,366		$	—



	December 31,
	2018		2017		2016
Total assets:
Intrastate transportation and storage	$	6,365	$	5,020	$	5,174
Interstate transportation and storage	15,081		15,316		12,492
Midstream	19,745		20,004		17,873
NGL and refined products transportation and services	19,227		17,600		14,074
Crude oil transportation and services	17,062		17,730		15,908
Investment in Sunoco LP	4,879		8,344		8,701
Investment in USAC	3,775		—		—
All other and eliminations	2,112		2,232		4,703
Total	$	88,246	$	86,246	$	78,925



	Years Ended December 31,
	2018		2017		2016
Additions to property, plant and equipment excluding acquisitions, net of contributions in aid of construction costs (capital expenditures related to the Partnership’s proportionate ownership on an accrual basis):
Intrastate transportation and storage	$	344	$	175	$	76
Interstate transportation and storage	812		728		280
Midstream	1,161		1,308		1,255
NGL and refined products transportation and services	2,381		2,971		2,198
Crude oil transportation and services	474		453		1,841
Investment in Sunoco LP	103		103		119
Investment in USAC	205		—		—
All other	150		268		160
Total additions to property, plant and equipment excluding acquisitions, net of contributions in aid of construction costs (accrual basis)	$	5,630	$	6,006	$	5,929



	December 31,
	2018		2017		2016
Advances to and investments in affiliates:
Intrastate transportation and storage	$	83	$	85	$	387
Interstate transportation and storage	2,070		2,118		2,149
Midstream	124		126		111
NGL and refined products transportation and services	243		234		235
Crude oil transportation and services	28		22		18
All other	94		120		140
Total	$	2,642	$	2,705	$	3,040