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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
REVENUES    
Total revenues $ 8,375 $ 8,398
COSTS AND EXPENSES    
Purchases and related costs 7,119 7,519
Field operating costs 326 292
General and administrative expenses 76 79
Depreciation and amortization 136 127
(Gains)/losses on asset sales and asset impairments, net 4  
Total costs and expenses 7,661 8,017
OPERATING INCOME 714 381
OTHER INCOME/(EXPENSE)    
Equity earnings in unconsolidated entities 89 75
Gain on investment in unconsolidated entities (Note 7) 267  
Interest expense (net of capitalized interest of $11 and $6, respectively) (101) (106)
Other income/(expense), net 25 (1)
INCOME BEFORE TAX 994 349
Current income tax expense (30) (13)
Deferred income tax benefit/(expense) 6 (48)
NET INCOME 970 288
NET INCOME PER COMMON UNIT (NOTE 4):    
Net income allocated to common unitholders — Basic 917 237
Net income allocated to common unitholders — Diluted $ 957 $ 237
Common Units    
NET INCOME PER COMMON UNIT (NOTE 4):    
Basic weighted average common units outstanding (units) 727 725
Basic net income per common unit (usd per unit) $ 1.26 $ 0.33
Diluted weighted average common units outstanding (units) 800 727
Diluted net income per common unit (usd per unit) $ 1.20 $ 0.33
Supply and Logistics    
REVENUES    
Total revenues $ 8,022 $ 8,111
Transportation    
REVENUES    
Total revenues 197 146
OTHER INCOME/(EXPENSE)    
Equity earnings in unconsolidated entities 89 75
Facilities    
REVENUES    
Total revenues $ 156 $ 141