UNCONSOLIDATED AFFILIATES (Notes)

9 Months Ended

Sep. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

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				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
	(Thousands of dollars)
Northern Border Pipeline	$	14,634	$	22,037	$	47,459	$	57,028
Overland Pass Pipeline	5,241		8,007		12,952		30,090
Roadrunner	8,056		8,033		23,407		21,275
Other	642		(31)		3,795		(392)
Equity in net earnings from investments	$	28,573	$	38,046	$	87,613	$	108,001
Impairment of equity investments	$	—	$	—	$	—	$	(37,730)

In the first quarter 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 $16.2 million and $35.8 million for the three months ended September 30, 2021 and 2020, respectively, and $44.2 million and $108.4 million for the nine months ended September 30, 2021 and 2020, respectively, primarily related to Northern Border Pipeline and Overland Pass Pipeline. Revenue earned and accounts receivable from, and accounts payable to, our equity-method investees were not material.

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 in our Consolidated Statements of Income.