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Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Reportable Segment Information

Reportable segment information is shown in the following tables:

		Year Ended December 31, 2020
		Gathering and Processing				Logistics and Transportation				Other				Corporate and Eliminations				Total
Revenues
Sales of commodities		$	659.9			$	6,281.4			$	229.7			$	—			$	7,171.0
Fees from midstream services			487.2				602.1				—				—				1,089.3
			1,147.1				6,883.5				229.7				—				8,260.3
Intersegment revenues
Sales of commodities			2,173.2				205.9				—				(2,379.1	)			—
Fees from midstream services			6.5				31.5				—				(38.0	)			—
			2,179.7				237.4				—				(2,417.1	)			—
Revenues		$	3,326.8			$	7,120.9			$	229.7			$	(2,417.1	)		$	8,260.3
Operating margin		$	1,017.7			$	1,128.0			$	229.7			$	—			$	2,375.4
Other financial information:
Total assets (1)		$	8,743.5			$	6,860.0			$	86.3			$	185.9			$	15,875.7
Goodwill		$	45.2			$	—			$	—			$	—			$	45.2
Capital expenditures		$	293.9			$	414.0			$	—			$	18.9			$	726.8

(1) Assets in the Corporate and Eliminations column primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

		Year Ended December 31, 2019
		Gathering and Processing				Logistics and Transportation				Other				Corporate and Eliminations				Total
Revenues
Sales of commodities		$	1,101.6			$	6,406.1			$	(113.9	)		$	—			$	7,393.8
Fees from midstream services			728.0				549.3				—				—				1,277.3
			1,829.6				6,955.4				(113.9	)			—				8,671.1
Intersegment revenues
Sales of commodities			2,628.4				132.2				—				(2,760.6	)			—
Fees from midstream services			7.4				28.7				—				(36.1	)			—
			2,635.8				160.9				—				(2,796.7	)			—
Revenues		$	4,465.4			$	7,116.3			$	(113.9	)		$	(2,796.7	)		$	8,671.1
Operating margin		$	1,006.4			$	867.2			$	(113.9	)		$	—			$	1,759.7
Other financial information:
Total assets (1)		$	11,929.8			$	6,741.8			$	1.0			$	142.5			$	18,815.1
Goodwill		$	45.2			$	—			$	—			$	—			$	45.2
Capital expenditures		$	1,273.3			$	1,412.2			$	—			$	23.0			$	2,708.5

(1) Assets in the Corporate and Eliminations column primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

		Year Ended December 31, 2018
		Gathering and Processing				Logistics and Transportation				Other				Corporate and Eliminations				Total
Revenues
Sales of commodities		$	1,228.2			$	8,058.4			$	(7.9	)		$	—			$	9,278.7
Fees from midstream services			715.6				489.7				—				—				1,205.3
			1,943.8				8,548.1				(7.9	)			—				10,484.0
Intersegment revenues
Sales of commodities			3,636.0				317.1				—				(3,953.1	)			—
Fees from midstream services			7.2				30.8				—				(38.0	)			—
			3,643.2				347.9				—				(3,991.1	)			—
Revenues		$	5,587.0			$	8,896.0			$	(7.9	)		$	(3,991.1	)		$	10,484.0
Operating margin		$	939.2			$	592.5			$	(7.9	)		$	—			$	1,523.8
Other financial information:
Total assets (1)		$	11,602.7			$	5,180.6			$	3.2			$	151.7			$	16,938.2
Goodwill		$	46.6			$	—			$	—			$	—			$	46.6
Capital expenditures		$	1,548.6			$	1,767.0			$	—			$	12.1			$	3,327.7

(1) Assets in the Corporate and Eliminations column primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

Revenues Disaggregated by Product and Service

The following table shows our consolidated revenues disaggregated by product and service for the periods presented:

		2020				2019				2018
Sales of commodities:
Revenue recognized from contracts with customers:
Natural gas		$	1,359.0			$	1,321.7			$	1,810.0
NGL			5,181.3				5,233.8				6,886.9
Condensate and crude oil			264.0				716.1				457.9
Petroleum products			69.8				126.3				196.1
			6,874.1				7,397.9				9,350.9
Non-customer revenue:
Derivative activities - Hedge			90.8				138.0				(39.7	)
Derivative activities - Non-hedge (1)			206.1				(142.1	)			(32.5	)
			296.9				(4.1	)			(72.2	)
Total sales of commodities			7,171.0				7,393.8				9,278.7
Fees from midstream services:
Revenue recognized from contracts with customers:
Gathering and processing			476.0				722.4				698.1
NGL transportation, fractionation and services			163.1				169.4				154.6
Storage, terminaling and export			401.9				356.4				313.0
Other			48.3				29.1				39.6
Total fees from midstream services			1,089.3				1,277.3				1,205.3
Total revenues		$	8,260.3			$	8,671.1			$	10,484.0

(1) Represents derivative activities that are not designated as hedging instruments under ASC 815.

Reconciliation of Reportable Segment Operating Margin to Income (Loss) Before Income Taxes

The following table shows a reconciliation of reportable segment operating margin to income (loss) before income taxes for the periods presented:

	2020					2019					2018
Reconciliation of reportable segment operating margin to income (loss) before income taxes:
Gathering and Processing operating margin	$		1,017.7			$		1,006.4			$		939.2
Logistics and Transportation operating margin			1,128.0					867.2					592.5
Other operating margin			229.7					(113.9	)				(7.9	)
Depreciation and amortization expense			(865.1	)				(971.6	)				(815.9	)
General and administrative expense			(254.6	)				(280.7	)				(256.9	)
Impairment of long-lived assets			(2,442.8	)				(225.3	)				—
Impairment of goodwill			—					—					(210.0	)
Interest expense, net			(391.3	)				(337.8	)				(185.8	)
Equity earnings (loss)			72.6					39.0					7.3
Gain (loss) on sale or disposition of business and assets			(58.4	)				(71.1	)				0.1
Write-down of assets			(55.6	)				(17.9	)				—
Gain (loss) from financing activities			45.6					(1.4	)				(2.0	)
Gain (loss) from sale of equity-method investment			—					69.3					—
Change in contingent considerations			0.3					(8.7	)				8.8
Other, net			0.8					(0.2	)				(3.5	)
Income (loss) before income taxes	$		(1,573.1	)		$		(46.7	)		$		65.9

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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