XML 69 R25.htm IDEA: XBRL DOCUMENT
v3.22.4

UNCONSOLIDATED AFFILIATES (Notes) | 12 Months Ended
--- | ---
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract] |
UNCONSOLIDATED AFFILIATES | UNCONSOLIDATED AFFILIATES Investments in Unconsolidated Affiliates - The following table sets forth our investments in unconsolidated affiliates as of the dates indicated:
|  | Net Ownership Interest |  | December 31, 2022 |  | December 31, 2021
|  |  |  | (Thousands of dollars)
Overland Pass |  | 50% |  | $ | 401,244 |  |  | $ | 403,011 |
Northern Border |  | 50% |  | 265,096 |  |  | 283,170 |
Roadrunner |  | 50% |  | 94,271 |  |  | 70,777 |
Other |  | Various |  | 41,183 |  |  | 40,655 |
Investments in unconsolidated affiliates (a) |  | $ | 801,794 |  |  | $ | 797,613 |
(a) - Equity-method goodwill (Note A) was $16.5 million at December 31, 2022 and 2021. Equity in Net Earnings from Investments and Impairments - The following table sets forth our equity in net earnings from investments for the periods indicated:
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (Thousands of dollars)
Northern Border |  | $ | 71,106 |  |  | $ | 64,470 |  |  | $ | 75,409 |
Roadrunner |  | 37,114 |  |  | 33,293 |  |  | 29,017 |
Overland Pass |  | 32,519 |  |  | 19,434 |  |  | 38,618 |
Other |  | 6,981 |  |  | 5,323 |  |  | 197 |
Equity in net earnings from investments |  | $ | 147,720 |  |  | $ | 122,520 |  |  | $ | 143,241 |
Impairment of equity investments |  | $ | — |  |  | $ | — |  |  | $ | (37,730) |
Impairment Charges - In 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. These impairment charges are included within impairment of equity investments in our Consolidated Statement of Income for the year ended December 31, 2020. We incurred expenses in transactions with unconsolidated affiliates of $82.8 million, $62.8 million and $135.4 million for 2022, 2021 and 2020, respectively, primarily related to Overland Pass and Northern Border. Revenue earned and accounts receivable from, and accounts payable to, our equity-method investees were not material. Northern Border - The Northern Border partnership agreement provides that distributions to Northern Border’s partners are to be made on a pro rata basis according to each partner’s ownership percentage interest. The Northern Border Management Committee determines the amount and timing of such distributions. Any changes to, or suspension of, the cash distribution policy of Northern Border requires the unanimous approval of the Northern Border Management Committee. Cash distributions are equal to 100% of distributable cash flow as determined from Northern Border’s financial statements based upon EBITDA less interest expense and maintenance capital expenditures. Loans or other advances from Northern Border to its partners or affiliates are prohibited under its credit agreement. In all periods presented, we made no contributions to Northern Border. Roadrunner - The Roadrunner agreement provides that distributions to members are made on a pro rata basis according to each member’s ownership interest. As the operator, we have been delegated the authority to determine such distributions in accordance with, and on the frequency set forth in, the Roadrunner agreement. Cash distributions are equal to 100% of available cash, as defined in the limited liability company agreement. In 2022, 2021 and 2020, our contributions to Roadrunner 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. Reimbursements and payments from Roadrunner included in operating income in our Consolidated Statements of Income for all periods presented were not material. Overland Pass - The Overland Pass agreement provides that distributions to Overland Pass’s members are to be made on a pro rata basis according to each member’s ownership percentage interest. The Overland Pass Management Committee determines the amount and timing of such distributions. Any changes to, or suspension of, the cash distributions from Overland Pass requires the unanimous approval of the Overland Pass Management Committee. Cash distributions are equal to 100% of available cash as defined in the limited liability company agreement. In all periods presented, our contributions to Overland Pass were not material.

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration