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UNCONSOLIDATED AFFILIATES (Notes)

3 Months Ended

Mar. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

UNCONSOLIDATED AFFILIATES

UNCONSOLIDATED AFFILIATES

Equity in Net Earnings from Investments - The following table sets forth our equity in net earnings from investments for the periods indicated:

									Three Months Ended
									March 31,
															2023						2022
															(Millions of dollars)
Northern Border															$	24					$	20
Overland Pass															9						5
Roadrunner															7						9
Other															—						2
Equity in net earnings from investments															$	40					$	36

We incurred expenses in transactions with unconsolidated affiliates of $28 million and $15 million for the three months ended March 31, 2023 and 2022, respectively, related primarily to Overland Pass and Northern Border. 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. Reimbursements and payments from Roadrunner included in operating income in our Consolidated Statements of Income for all periods presented were not material.

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- References

No definition available.

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- 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

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