XML 32 R19.htm IDEA: XBRL DOCUMENT v3.21.1
UNCONSOLIDATED AFFILIATES (Notes)
 3 Months Ended
Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
UNCONSOLIDATED AFFILIATES UNCONSOLIDATED AFFILIATES
Equity in Net Earnings from Investments and Impairments - The following table sets forth our equity in net earnings from investments for the periods indicated:
Three Months Ended
March 31,
 20212020
 
(Thousands of dollars)
Northern Border Pipeline$20,239 $22,120 
Overland Pass Pipeline2,972 14,111 
Roadrunner7,749 6,433 
Other2,360 1,963 
Equity in net earnings from investments$33,320 $44,627 
Impairment of equity investments$— $(37,730)

Equity in net earnings from Overland Pass Pipeline decreased for the three months ended March 31, 2021, compared with the same period in 2020, due primarily to lower volumes.

For the three months ended March 31, 2020, we incurred a noncash impairment charge of $30.5 million related to our 10.2% investment in Venice Energy Services Company in our Natural Gas Gathering and Processing segment, which includes $22.3 million related to equity-method goodwill, and a $7.2 million noncash impairment charge related to our 50% investment in Chisholm Pipeline Company in our Natural Gas Liquids segment.

We incurred expenses in transactions with unconsolidated affiliates of $15.6 million and $45.3 million for the three months ended March 31, 2021 and 2020, respectively, primarily related to Northern Border Pipeline and Overland Pass Pipeline. Accounts payable to our equity-method investees at March 31, 2021, and December 31, 2020, were $5.2 million and $8.4 million, respectively.

We have an operating agreement with Roadrunner that provides for reimbursement or payment to us for management services and certain operating costs, which are included in operating income (loss) in our Consolidated Statements of Income.