XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.21.1

Summary of Significant Accounting Policies | 3 Months Ended
--- | ---
Mar. 31, 2021
Accounting Policies [Abstract] |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Restricted Cash Restricted cash includes cash held by us that is unavailable for general use and is comprised of amounts advanced to us by certain equity method investees related to the construction of fixed assets where we serve as construction manager. The following table presents a reconciliation of cash and cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets that sum to the total of the amounts shown on our Condensed Consolidated Statements of Cash Flows (in millions):
| March 31, 2021 |  | December 31, 2020
Cash and cash equivalents | $ | 30 |  |  | $ | 22 |
Restricted cash | 26 |  |  | 38 |
Total cash and cash equivalents and restricted cash | $ | 56 |  |  | $ | 60 |
Property and Equipment During the first quarter of 2021, we modified the useful lives of certain of our Pipeline and related facilities and Storage, terminal and rail facilities to useful lives of 10 to 50 years from useful lives of 10 to 70 years to reflect current expectations given our future operating and commercial outlook. These depreciable life adjustments will prospectively increase depreciation expense. For the three months ended March 31, 2021, these reductions increased depreciation expense by approximately $18 million, which resulted in a decrease to both basic and diluted net income per common unit of approximately $0.03 from what it would have been absent the change in useful lives. Recent Accounting Pronouncements Except as discussed below and in our 2020 Annual Report on Form 10-K, there have been no new accounting pronouncements that have become effective or have been issued during the three months ended March 31, 2021 that are of significance or potential significance to us. Accounting Standards Updates Adopted During the Period We adopted the ASU listed below effective January 1, 2021 and our adoption did not have a material impact on our financial position, results of operations or cash flows (see Note 2 to our Consolidated Financial Statements included in Part IV of our 2020 Annual Report on Form 10-K for additional information regarding this ASU): •ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.

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

X
- Definition The entire disclosure for all significant accounting policies of the reporting entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
Name: | us-gaap_SignificantAccountingPoliciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration