XML 32 R20.htm IDEA: XBRL DOCUMENT v3.23.3
UNCONSOLIDATED AFFILIATES
9 Months Ended
Sep. 30, 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 EndedNine Months Ended
September 30,September 30,
 2023202220232022
 
(Millions of dollars)
Northern Border$20 $17 $58 $53 
Overland Pass17 10 39 23 
Roadrunner10 10 32 28 
Other (a)2 3 
Equity in net earnings from investments$49 $39 $132 $111 
(a) - Includes equity in net earnings for the acquired investments from the Magellan Acquisition from the period September 25, 2023 through September 30, 2023.

We incurred expenses in transactions with unconsolidated affiliates of $33 million and $26 million for the three months ended September 30, 2023 and 2022, respectively, and $88 million and $56 million for the nine months ended September 30, 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 are the operator of Roadrunner, and as a result of the Magellan Acquisition, we are also the operator of BridgeTex, HoustonLink, MVP, Powder Springs, Saddlehorn, Texas Frontera and the pipeline activities of Seabrook. In each case, we have operating agreements that provide for reimbursement or payment to us for management services and certain operating costs. Reimbursements and payments included in operating income in our Consolidated Statements of Income for all periods presented were not material. In the second quarter 2023, we made an equity contribution of $105 million to Roadrunner, which in combination with an equal contribution from our joint venture partner, was used to repay Roadrunner’s outstanding debt.