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Advances to and Investments in Unconsolidated Affiliates
12 Months Ended
Dec. 31, 2023
Investment In Affiliates [Abstract]  
Investments In Affiliates INVESTMENTS IN UNCONSOLIDATED AFFILIATES:
Description of Investments
Following is a summary of the Partnership’s significant unconsolidated investees.
Citrus
Energy Transfer owns a 50% interest in Citrus. Citrus owns 100% of FGT, an approximately 5,362-mile natural gas pipeline system that originates in Texas and delivers natural gas to the Florida peninsula. Our investment in Citrus is reflected in our interstate transportation and storage segment.
MEP
Energy Transfer owns a 50% interest in MEP, which owns the Midcontinent Express Pipeline, an approximately 500-mile natural gas pipeline that extends from Southeast Oklahoma, across Northeast Texas, Northern Louisiana and Central Mississippi to an interconnect with the Transcontinental natural gas pipeline system in Butler, Alabama. Our investment in MEP is reflected in the interstate transportation and storage segment.
White Cliffs
Energy Transfer owns a 51% interest in White Cliffs, which consists of two parallel, 12-inch common carrier pipelines: one crude oil pipeline and one NGL pipeline. These pipelines transport crude and NGLs from Platteville, Colorado to Cushing, Oklahoma.
Explorer
Energy Transfer owns a 15% membership interest in Explorer, which consists of a 1,850-mile pipeline which originates from refining centers in Beaumont, Port Arthur, and Houston, Texas and extends to Chicago, Illinois. Our investment in Explorer is reflected in our NGL and refined products transportation and services segment.
Summary of Balances Related to Unconsolidated Affiliates
The carrying values of the Partnership’s investments in unconsolidated affiliates as of December 31, 2023 and 2022 were as follows:
December 31,
20232022
Citrus$1,811 $1,800 
MEP332 360 
White Cliffs203 218 
Explorer67 69 
Other684 446 
Total$3,097 $2,893 
The following table presents equity in earnings (losses) of unconsolidated affiliates:
Years Ended December 31,
202320222021
Citrus$146 $141 $157 
MEP87 10 (17)
White Cliffs10 (8)— 
Explorer37 25 24 
Other103 89 82 
Total equity in earnings of unconsolidated affiliates$383 $257 $246 
Summarized Financial Information
The following tables present aggregated selected balance sheet and income statement data for our unconsolidated affiliates, Citrus, MEP, White Cliffs and Explorer (on a 100% basis) for all periods presented:
December 31,
20232022
Current assets$378 $311 
Property, plant and equipment, net7,582 7,722 
Other assets88 86 
Total assets$8,048 $8,119 
Current liabilities$260 $291 
Non-current liabilities4,379 4,347 
Equity3,409 3,481 
Total liabilities and equity$8,048 $8,119 
Years Ended December 31,
202320222021
Revenue$1,798 $1,518 $1,393 
Operating income1,012 704 684 
Net income735 463 446 
In addition to the equity method investments described above, we have other equity method investments which are not significant to our consolidated financial statements.