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Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Summary of right of use asset and lease liability balances for operating and finance leases

The following tables summarize the right of use asset and lease liability balances for the Company’s operating and finance leases at December 31, 2020 and 2019:

			December 31,
(in millions)			2020						2019
Operating Leases:
ROU asset, net
Pipeline and storage			$	15					$	20
Railcars			8						12
Real estate and other			14						16
Lease liability
Pipelines and storage			$	16					$	22
Railcars			8						12
Real estate and other			14						14

			December 31,
(in millions)			2020						2019
Finance Leases:
ROU asset, net
Pipeline and storage			$	26					$	29
Real estate and other			21						24
Lease liability
Pipelines and storage			$	38					$	40
Real estate and other			22						25

Lease expense, terms, and discount rates

For the year ended December 31, 2020 and 2019, we recognized lease expense comprised of the following components:

			Year Ended December 31,
(in millions)			2020						2019
Operating lease expense			$	17					$	12
Finance lease expense:
Amortization of ROU asset			$	6					$	7
Interest expense on lease liability			6						6

The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and liabilities:

			December 31,
			2020						2019
Weighted-average remaining lease term (years)
Operating Leases			3.1						3.7
Finance Leases			8.1						9.0
Weighted-average discount rate
Operating Leases			5.5		%				5.6		%
Finance Leases			9.0		%				8.9		%

Summary of remaining minimum lease payments for operating leases

The following summarizes the remaining minimum lease payments through maturity of the Company’s right-of-use assets and liabilities at December 31, 2020:

(in millions)			Operating Leases						Finance Leases
2021			$	16					$	11
2022			12						11
2023			8						10
2024			5						10
2025			—						10
Thereafter			—						33
Total lease payments			41						85
Less: imputed interest			(3)						(25)
Total lease liability			$	38					$	60

Summary of remaining minimum lease payments for finance leases

The following summarizes the remaining minimum lease payments through maturity of the Company’s right-of-use assets and liabilities at December 31, 2020:

(in millions)			Operating Leases						Finance Leases
2021			$	16					$	11
2022			12						11
2023			8						10
2024			5						10
2025			—						10
Thereafter			—						33
Total lease payments			41						85
Less: imputed interest			(3)						(25)
Total lease liability			$	38					$	60

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Assets and Liabilities, Lessee [Table Text Block]

+ References

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980

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