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Acquisition and Divestitures Acquisition and Divestitures (Tables) | 9 Months Ended
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Sep. 30, 2017
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | PRELIMINARY ACQUISITION DATE PURCHASE PRICE ALLOCATION (in millions)
Inventory | $ | 2 |
Property, plant and equipment | 571 |
Intangibles (a) | 122 |
Goodwill (b) | 10 |
Total purchase price | $ | 705 |
(a) | The intangibles consist of customer contracts with a weighted average amortization period of 10.6 years. Amortization of intangible assets for the three and nine months ended September 30, 2017 was $2 million and $9 million, respectively.
(b) | We evaluated several factors that contributed to the amount of goodwill presented above. These factors include the geographic proximity of the acquired assets to existing assets owned by the Partnership along with the improved overall basin logistics efficiencies we can leverage.
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | PRELIMINARY ACQUISITION DATE PURCHASE PRICE ALLOCATION (in millions)
Cash | $ | 22 |
Receivables | 112 |
Inventories | 11 |
Prepayments and Other Current Assets | 6 |
Property, Plant and Equipment (a) | 1,301 |
Goodwill | 734 |
Acquired Intangibles | 130 |
Other Noncurrent Assets | 2 |
Accounts Payable | (167 | )
Accrued Liabilities | (41 | )
Debt | (347 | )
Total purchase price | $ | 1,763 |
(a) | Estimated useful lives ranging from 3 to 22 years have been assumed based on the preliminary valuation.
Business Acquisition, Pro Forma Information [Table Text Block] | PRO FORMA CONSOLIDATED REVENUES AND CONSOLIDATED NET EARNINGS (in millions)
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Revenues | $ | 1,086 |  |  | $ | 877 |  |  | $ | 3,148 |  |  | $ | 2,515 |
Net earnings (a) | 115 |  |  | 86 |  |  | 349 |  |  | 245 |
(a) | While many recurring adjustments impact the pro forma figures presented, the increase in pro forma net earnings compared to our net earnings presented on the condensed statements of consolidated operations for the nine months ended September 30, 2017 includes a significant non-recurring adjustment removing acquisition and integration costs from 2017 and reflects these costs in the first quarter of 2016, the period the acquisition was assumed to be completed for pro forma purposes.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
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