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SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segments
Operating Segment Information - The following tables set forth certain selected financial information for our operating segments for the periods indicated:
Year Ended December 31, 2019
 
Natural Gas
Gathering and
Processing
 
Natural Gas
Liquids (a)
 
Natural Gas
Pipelines (b)
 
Total
Segments
 
 
(Thousands of dollars)
NGL and condensate sales
 
$
1,224,378

 
$
7,910,833

 
$
—

 
$
9,135,211

Residue natural gas sales
 
966,149

 
—

 
1,244

 
967,393

Gathering, processing and exchange services revenue
 
164,299

 
414,238

 
—

 
578,537

Transportation and storage revenue
 
—

 
197,483

 
466,266

 
663,749

Other
 
13,813

 
9,962

 
4,477

 
28,252

Total revenues (c)
 
2,368,639

 
8,532,516

 
471,987

 
11,373,142

Cost of sales and fuel (exclusive of depreciation and operating costs)
 
(1,302,310
)
 
(6,690,918
)
 
(4,628
)
 
(7,997,856
)
Operating costs
 
(368,352
)
 
(456,892
)
 
(157,230
)
 
(982,474
)
Equity in net earnings from investments
 
(6,292
)
 
65,123

 
95,710

 
154,541

Noncash compensation expense and other
 
10,965

 
15,936

 
2,977

 
29,878

Segment adjusted EBITDA
 
$
702,650

 
$
1,465,765

 
$
408,816

 
$
2,577,231

 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
(219,519
)
 
$
(196,132
)
 
$
(57,250
)
 
$
(472,901
)
Investments in unconsolidated affiliates
 
$
34,426

 
$
439,393

 
$
388,025

 
$
861,844

Total assets
 
$
6,795,744

 
$
12,551,476

 
$
2,094,072

 
$
21,441,292

Capital expenditures
 
$
926,489

 
$
2,796,604

 
$
99,221

 
$
3,822,314

(a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.4 billion, of which $1.2 billion related to sales within the segment, and cost of sales and fuel of $496.8 million.
(b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $285.3 million and cost of sales and fuel of $20.0 million.
(c) - Intersegment revenues for the Natural Gas Gathering and Processing segment totaled $1.2 billion. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material.

Year Ended December 31, 2019
 
Total
Segments
 
Other and
Eliminations
 
Total
 
 
(Thousands of dollars)
Reconciliations of total segments to consolidated
 
 
 
 
 
 
NGL and condensate sales
 
$
9,135,211

 
$
(1,190,424
)
 
$
7,944,787

Residue natural gas sales
 
967,393

 
(1,418
)
 
965,975

Gathering, processing and exchange services revenue
 
578,537

 
—

 
578,537

Transportation and storage revenue
 
663,749

 
(15,646
)
 
648,103

Other
 
28,252

 
(1,287
)
 
26,965

Total revenues (a)
 
$
11,373,142

 
$
(1,208,775
)
 
$
10,164,367

 
 
 
 
 
 
 
Cost of sales and fuel (exclusive of depreciation and operating costs)
 
$
(7,997,856
)
 
$
1,209,816

 
$
(6,788,040
)
Operating costs
 
$
(982,474
)
 
$
(390
)
 
$
(982,864
)
Depreciation and amortization
 
$
(472,901
)
 
$
(3,634
)
 
$
(476,535
)
Equity in net earnings from investments
 
$
154,541

 
$
—

 
$
154,541

Investments in unconsolidated affiliates
 
$
861,844

 
$
—

 
$
861,844

Total assets
 
$
21,441,292

 
$
370,829

 
$
21,812,121

Capital expenditures
 
$
3,822,314

 
$
26,035

 
$
3,848,349

(a) - Noncustomer revenue for the year ended December 31, 2019, totaled $139.6 million related primarily to gains from derivatives on commodity contracts.

Year Ended December 31, 2018
 
Natural Gas
Gathering and
Processing
 
Natural Gas
Liquids (a)
 
Natural Gas
Pipelines (b)
 
Total
Segments
 
 
(Thousands of dollars)
NGL and condensate sales
 
$
1,775,991

 
$
10,319,847

 
$
—

 
$
12,095,838

Residue natural gas sales
 
1,084,162

 
—

 
9,772

 
1,093,934

Gathering, processing and exchange services revenue
 
163,194

 
404,897

 
—

 
568,091

Transportation and storage revenue
 
—

 
199,018

 
414,969

 
613,987

Other
 
11,230

 
10,816

 
6,994

 
29,040

Total revenues (c)
 
3,034,577

 
10,934,578

 
431,735

 
14,400,890

Cost of sales and fuel (exclusive of depreciation and operating costs)
 
(2,041,448
)
 
(9,176,813
)
 
(15,984
)
 
(11,234,245
)
Operating costs
 
(368,939
)
 
(394,115
)
 
(144,259
)
 
(907,313
)
Equity in net earnings from investments
 
410

 
67,126

 
90,847

 
158,383

Noncash compensation expense and other
 
7,007

 
9,829

 
3,912

 
20,748

Segment adjusted EBITDA
 
$
631,607

 
$
1,440,605

 
$
366,251

 
$
2,438,463

 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
(196,090
)
 
$
(174,007
)
 
$
(55,118
)
 
$
(425,215
)
Investments in unconsolidated affiliates
 
$
42,630

 
$
451,040

 
$
475,480

 
$
969,150

Total assets
 
$
6,078,473

 
$
9,663,640

 
$
2,131,669

 
$
17,873,782

Capital expenditures
 
$
694,611

 
$
1,306,341

 
$
119,185

 
$
2,120,137

(a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.2 billion, of which $1.1 billion related to sales within the segment, and cost of sales and fuel of $506.0 million.
(b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $266.6 million and cost of sales and fuel of $26.0 million.
(c) - Intersegment revenues for the Natural Gas Gathering and Processing segment totaled $1.8 billion. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material.

Year Ended December 31, 2018
 
Total
Segments
 
Other and
Eliminations
 
Total
 
 
(Thousands of dollars)
Reconciliations of total segments to consolidated
 
 
 
 
 
 
NGL and condensate sales
 
$
12,095,838

 
$
(1,794,342
)
 
$
10,301,496

Residue natural gas sales
 
1,093,934

 
(2,832
)
 
1,091,102

Gathering, processing and exchange services revenue
 
568,091

 
(21
)
 
568,070

Transportation and storage revenue
 
613,987

 
(10,550
)
 
603,437

Other
 
29,040

 
51

 
29,091

Total revenues (a)
 
$
14,400,890

 
$
(1,807,694
)
 
$
12,593,196

 
 
 
 
 
 
 
Cost of sales and fuel (exclusive of depreciation and operating costs)
 
$
(11,234,245
)
 
$
1,811,537

 
$
(9,422,708
)
Operating costs
 
$
(907,313
)
 
$
245

 
$
(907,068
)
Depreciation and amortization
 
$
(425,215
)
 
$
(3,342
)
 
$
(428,557
)
Equity in net earnings from investments
 
$
158,383

 
$
—

 
$
158,383

Investments in unconsolidated affiliates
 
$
969,150

 
$
—

 
$
969,150

Total assets
 
$
17,873,782

 
$
357,889

 
$
18,231,671

Capital expenditures
 
$
2,120,137

 
$
21,338

 
$
2,141,475

(a) - Noncustomer revenue for the year ended December 31, 2018, totaled $(16.2) million related primarily to losses from derivatives on commodity contracts.

Year Ended December 31, 2017
 
Natural Gas
Gathering and
Processing
 
Natural Gas
Liquids (a)
 
Natural Gas
Pipelines (b)
 
Total
Segments
 
 
(Thousands of dollars)
Sales to unaffiliated customers
 
$
1,750,655

 
$
10,009,576

 
$
411,490

 
$
12,171,721

Intersegment revenues
 
1,275,919

 
616,628

 
8,442

 
1,900,989

Total revenues
 
3,026,574

 
10,626,204


419,932


14,072,710

Cost of sales and fuel (exclusive of depreciation and operating costs)
 
(2,216,355
)
 
(9,176,494
)
 
(43,424
)
 
(11,436,273
)
Operating costs
 
(307,376
)
 
(358,278
)
 
(125,308
)
 
(790,962
)
Equity in net earnings from investments
 
12,098

 
59,876

 
87,304

 
159,278

Other
 
3,531

 
3,631

 
1,314

 
8,476

Segment adjusted EBITDA
 
$
518,472

 
$
1,154,939

 
$
339,818

 
$
2,013,229

 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
(184,923
)
 
$
(167,277
)
 
$
(51,025
)
 
$
(403,225
)
Impairment of long-lived assets and equity investments
 
$
(20,240
)
 
$
—

 
$
—

 
$
(20,240
)
Investments in unconsolidated affiliates
 
$
55,841

 
$
457,467

 
$
489,848

 
$
1,003,156

Total assets
 
$
5,495,163

 
$
8,782,700

 
$
2,055,020

 
$
16,332,883

Capital expenditures
 
$
284,205

 
$
114,267

 
$
95,564

 
$
494,036

(a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.2 billion, of which $1.0 billion related to sales within the segment, and cost of sales and fuel of $497.4 million.
(b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $264.9 million and cost of sales and fuel of $44.0 million.

Year Ended December 31, 2017
 
Total
Segments
 
Other and
Eliminations
 
Total
 
 
(Thousands of dollars)
Reconciliations of total segments to consolidated
 
 
 
 
 
 
Sales to unaffiliated customers
 
$
12,171,721

 
$
2,186

 
$
12,173,907

Intersegment revenues
 
1,900,989

 
(1,900,989
)
 
—

Total revenues
 
$
14,072,710

 
$
(1,898,803
)
 
$
12,173,907

 
 
 
 
 
 
 
Cost of sales and fuel (exclusive of depreciation and operating costs)
 
$
(11,436,273
)
 
$
1,898,228

 
$
(9,538,045
)
Operating costs
 
$
(790,962
)
 
$
(31,748
)
 
$
(822,710
)
Depreciation and amortization
 
$
(403,225
)
 
$
(3,110
)
 
$
(406,335
)
Impairment of long-lived assets and equity investments
 
$
(20,240
)
 
$
—

 
$
(20,240
)
Equity in net earnings from investments
 
$
159,278

 
$
—

 
$
159,278

Investments in unconsolidated affiliates
 
$
1,003,156

 
$
—

 
$
1,003,156

Total assets
 
$
16,332,883

 
$
513,054

 
$
16,845,937

Capital expenditures
 
$
494,036

 
$
18,357

 
$
512,393


 
 
Years Ended December 31,
 
 
2019
 
2018
 
2017
Reconciliation of net income to total segment adjusted EBITDA
 
(Thousands of dollars)
Net income
 
$
1,278,577

 
$
1,155,032

 
$
593,519

Add:
 
 
 
 
 
 
Interest expense, net of capitalized interest
 
491,773

 
469,620

 
485,658

Depreciation and amortization
 
476,535

 
428,557

 
406,335

Income taxes
 
372,414

 
362,903

 
447,282

Impairment charges
 
—

 
—

 
20,240

Noncash compensation expense
 
26,699

 
37,954

 
13,421

Other corporate costs and noncash items (a)
 
(68,767
)
 
(15,603
)
 
46,774

Total segment adjusted EBITDA
 
$
2,577,231

 
$
2,438,463

 
$
2,013,229

(a) - The year ended December 31, 2019, includes higher equity AFUDC related to our capital-growth projects compared with 2018 and 2017. The year ended December 31, 2017, includes our April 2017 $20.0 million contribution of Series E Preferred Stock to the Foundation and costs related to the Merger Transaction of $30.0 million.