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Redeemable Noncontrolling Interest (Notes) | 6 Months Ended
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Jun. 30, 2021
Temporary Equity Disclosure [Abstract] |
Redeemable Noncontrolling Interest [Text Block] | REDEEMABLE NONCONTROLLING INTERESTSCertain redeemable noncontrolling interests in the Partnership’s subsidiaries are reflected as mezzanine equity on the consolidated balance sheets. Redeemable noncontrolling interests as of June 30, 2021 included a balance of $477 million related to the USAC Preferred Units described below and a balance of $15 million related to noncontrolling interest holders in one of the Partnership’s consolidated subsidiaries that have the option to sell their interests to the Partnership. In addition, as of June 30, 2021, redeemable noncontrolling interests included a balance of $284 million related to Energy Transfer Canada preferred shares. USAC Preferred Units As of June 30, 2021, USAC had 500,000 USAC Preferred Units issued and outstanding. 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. Certain portions of the USAC Preferred Units are convertible into USAC common units at the election of the holders. To the extent the holders of the USAC Preferred Units have not elected to convert their preferred units by April 2023, USAC will have the option to redeem all or any portion of the USAC Preferred Units for cash. In addition, beginning April 2028, the holders of the USAC Preferred Units will have the right to require USAC to redeem all or any portion of the USAC Preferred Units, and USAC may elect to pay up to 50% of such redemption amount in USAC common units. Energy Transfer Canada Redeemable Preferred Stock Energy Transfer Canada has 300,000 shares of cumulative preferred stock issued and outstanding. The preferred stock is redeemable at Energy Transfer Canada’s option at a redemption price of C$1,100 (US$887 at the June 30, 2021 exchange rate) per share. The preferred stock is redeemable by the holder contingent upon a change of control or liquidation of Energy Transfer Canada. The preferred stock is convertible to Energy Transfer Canada common shares in the event of an initial public offering by Energy Transfer Canada. Dividends on the preferred stock were payable in-kind through the quarter ended June 30, 2021. The dividends paid-in-kind increased the liquidation preference such that, as of June 30, 2021, the preferred stock was convertible into 359,653 shares.

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- Definition The entire disclosure for redeemable noncontrolling interest (as defined) included in the statement of financial position either as a liability or temporary equity + References No definition available. + Details
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- References No definition available. + Details
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