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Redeemable Noncontrolling Interest (Notes)
6 Months Ended
Jun. 30, 2019
Temporary Equity Disclosure [Abstract]  
Redeemable Noncontrolling Interest [Text Block]
REDEEMABLE NONCONTROLLING INTERESTS
Certain redeemable noncontrolling interests in the Partnership’s subsidiaries are reflected as mezzanine equity on the consolidated balance sheet. Redeemable noncontrolling interests as of June 30, 2019 included (i) $477 million related to the USAC Preferred Units described below and (ii) $23 million related to noncontrolling interest holders in one of ETO’s consolidated subsidiaries that have the option to sell their interests to ETO.
USAC Preferred Units
In 2018, USAC issued 500,000 USAC Preferred Units in a private placement at a price of $1,000 per USAC Preferred Unit, for total gross proceeds of $500 million.
The USAC Preferred Units are entitled to receive cumulative quarterly distributions equal to $24.375 per USAC Preferred Unit, subject to increase in certain limited circumstances. The USAC Preferred Units will have a perpetual term, unless converted or redeemed.