Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'Enterprise Products Partners L P | ' |
Entity Central Index Key | '0001061219 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 925,104,465 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
UNAUDITED_CONDENSED_CONSOLIDAT
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Current assets: | ' | ' | ||
Cash and cash equivalents | $9.60 | $16.10 | ||
Restricted cash | 35.9 | 4.3 | ||
Accounts receivable - trade, net of allowance for doubtful accounts of $6.7 at September 30, 2013 and $13.2 at December 31, 2012 | 5,469.10 | 4,350.90 | ||
Accounts receivable - related parties | 12.8 | 2.5 | ||
Inventories | 1,862.40 | 1,088.40 | ||
Prepaid and other current assets | 381.1 | 380.9 | ||
Total current assets | 7,770.90 | 5,843.10 | ||
Property, plant and equipment, net | 26,453.90 | 24,846.40 | ||
Investments in unconsolidated affiliates | 2,134.50 | 1,394.60 | ||
Intangible assets, net of accumulated amortization of $1,124.6 at September 30, 2013 and $1,050.0 at December 31, 2012 | 1,487.60 | 1,566.80 | ||
Goodwill | 2,080 | [1] | 2,086.80 | [1] |
Other assets | 198.1 | 196.7 | ||
Total assets | 40,125 | 35,934.40 | ||
Current liabilities: | ' | ' | ||
Current maturities of debt (see Note 9) | 1,049.90 | [2] | 1,546.60 | [2] |
Accounts payable - trade | 1,040.30 | 764.5 | ||
Accounts payable - related parties | 96.5 | 127.1 | ||
Accrued product payables | 5,972.80 | 4,476.20 | ||
Accrued interest | 168.2 | 300.8 | ||
Other current liabilities | 396.1 | 540.5 | ||
Total current liabilities | 8,723.80 | 7,755.70 | ||
Long-term debt (see Note 9) | 16,481.60 | 14,655.20 | ||
Deferred tax liabilities | 55 | 22.5 | ||
Other long-term liabilities | 182.4 | 205 | ||
Commitments and contingencies (see Note 14) | ' | ' | ||
Limited partners: | ' | ' | ||
Limited partners' equity | 14,821.40 | 13,558.10 | ||
Accumulated other comprehensive loss | -349.3 | -370.4 | ||
Total partners' equity | 14,472.10 | 13,187.70 | ||
Noncontrolling interests | 210.1 | 108.3 | ||
Total equity | 14,682.20 | 13,296 | ||
Total liabilities and equity | 40,125 | 35,934.40 | ||
Common units [Member] | ' | ' | ||
Limited partners: | ' | ' | ||
Limited partners' equity | 14,821.40 | 13,439.60 | ||
Class B units [Member] | ' | ' | ||
Limited partners: | ' | ' | ||
Limited partners' equity | $0 | $118.50 | ||
[1] | The total carrying amount of goodwill at September 30, 2013 and December 31, 2012 is net of $1.3 million of accumulated impairment charges. No goodwill impairment charges were recorded during the nine months ended September 30, 2013. | |||
[2] | We expect to refinance the current maturities of our debt obligations at or prior to their maturity. |
UNAUDITED_CONDENSED_CONSOLIDAT1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Current assets: | ' | ' |
Accounts receivable, allowance for doubtful accounts | $6.70 | $13.20 |
Intangible Assets, accumulated amortization | $1,124.60 | $1,050 |
Common units [Member] | ' | ' |
Limited partners: | ' | ' |
Capital account, units outstanding (in units) | 924,770,538 | 898,813,337 |
Class B units [Member] | ' | ' |
Limited partners: | ' | ' |
Capital account, units outstanding (in units) | ' | 4,520,431 |
UNAUDITED_CONDENSED_STATEMENTS
UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues: | ' | ' | ' | ' |
Third parties | $12,085.60 | $10,461.20 | $34,605.40 | $31,447.10 |
Related parties | 7.7 | 7.5 | 20.3 | 63.9 |
Total revenues (see Note 11) | 12,093.30 | 10,468.70 | 34,625.70 | 31,511 |
Operating costs and expenses: | ' | ' | ' | ' |
Third parties | 11,055.30 | 9,456.60 | 31,404.50 | 28,563.40 |
Related parties | 218.2 | 203.2 | 656.6 | 573.1 |
Total operating costs and expenses | 11,273.50 | 9,659.80 | 32,061.10 | 29,136.50 |
General and administrative costs: | ' | ' | ' | ' |
Third parties | 17.4 | 18.8 | 54.6 | 59.1 |
Related parties | 26.5 | 22.6 | 84.3 | 71.1 |
Total general and administrative costs | 43.9 | 41.4 | 138.9 | 130.2 |
Total costs and expenses | 11,317.40 | 9,701.20 | 32,200 | 29,266.70 |
Equity in income of unconsolidated affiliates | 44 | 21 | 126.1 | 42.2 |
Operating income | 819.9 | 788.5 | 2,551.80 | 2,286.50 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | -208.3 | -199.7 | -604.4 | -572.8 |
Interest income | 0.2 | 0.3 | 0.7 | 0.7 |
Other, net (see Note 2) | 0.4 | 1.2 | -0.5 | 72.7 |
Total other expense, net | -207.7 | -198.2 | -604.2 | -499.4 |
Income before income taxes | 612.2 | 590.3 | 1,947.60 | 1,787.10 |
Benefit from (provision for) income taxes (see Note 2) | -19.4 | -2.4 | -46.2 | 23.5 |
Net income | 592.8 | 587.9 | 1,901.40 | 1,810.60 |
Net income attributable to noncontrolling interests (see Note 10) | -0.8 | -1.1 | -3.4 | -6.2 |
Net income attributable to limited partners | $592 | $586.80 | $1,898 | $1,804.40 |
Earnings per unit: (see Note 13) | ' | ' | ' | ' |
Basic earnings per unit (in dollars per unit) | $0.66 | $0.68 | $2.13 | $2.10 |
Diluted earnings per unit (in dollars per unit) | $0.64 | $0.66 | $2.07 | $2.03 |
UNAUDITED_CONDENSED_STATEMENTS1
UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME | ' | ' | ' | ' |
Net income | $592.80 | $587.90 | $1,901.40 | $1,810.60 |
Commodity derivative instruments: | ' | ' | ' | ' |
Changes in fair value of cash flow hedges | -8.6 | -58.5 | -22.1 | -13.1 |
Reclassification of losses to net income | 14.6 | 0.9 | 14.7 | 37.1 |
Interest rate derivative instruments: | ' | ' | ' | ' |
Changes in fair value of cash flow hedges | 0 | -20.2 | 6.7 | -75.3 |
Reclassification of losses to net income | 7.7 | 4.5 | 21.4 | 10.9 |
Total cash flow hedges | 13.7 | -73.3 | 20.7 | -40.4 |
Other | 0 | 3.7 | 0.4 | 3.5 |
Total other comprehensive income (loss) | 13.7 | -69.6 | 21.1 | -36.9 |
Comprehensive income | 606.5 | 518.3 | 1,922.50 | 1,773.70 |
Comprehensive income attributable to noncontrolling interests | -0.8 | -1.1 | -3.4 | -6.2 |
Comprehensive income attributable to limited partners | $605.70 | $517.20 | $1,919.10 | $1,767.50 |
UNAUDITED_CONDENSED_STATEMENTS2
UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities: | ' | ' |
Net income | $1,901.40 | $1,810.60 |
Reconciliation of net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 902.3 | 817.9 |
Non-cash asset impairment charges | 53.3 | 57.6 |
Equity in income of unconsolidated affiliates | -126.1 | -42.2 |
Distributions received from unconsolidated affiliates | 187.6 | 67.5 |
Gains attributable to asset sales and insurance recoveries (see Note 16) | -68.4 | -102.9 |
Deferred income tax expense (benefit) | 32.1 | -67.9 |
Changes in fair market value of derivative instruments | -5.3 | -15.9 |
Net effect of changes in operating accounts (see Note 16) | -513.9 | -910.2 |
Other operating activities | 3.2 | 1.3 |
Net cash flows provided by operating activities | 2,366.20 | 1,615.80 |
Investing activities: | ' | ' |
Capital expenditures | -2,413.20 | -2,716.10 |
Contributions in aid of construction costs | 19.9 | 18.2 |
Decrease (increase) in restricted cash | -31.6 | 19.7 |
Investments in unconsolidated affiliates | -768.4 | -351.8 |
Proceeds from asset sales and insurance recoveries (see Note 16) | 256.3 | 1,167.40 |
Other investing activities | -0.5 | -32.4 |
Cash used in investing activities | -2,937.50 | -1,895 |
Financing activities: | ' | ' |
Borrowings under debt agreements | 10,139.20 | 7,141.40 |
Repayments of debt | -8,791.60 | -5,716 |
Debt issuance costs | -23.7 | -20.7 |
Monetization of interest rate derivative instruments (see Note 4) | -168.8 | -147.8 |
Cash distributions paid to limited partners (see Note 10) | -1,778.30 | -1,613.40 |
Cash distributions paid to noncontrolling interests | -6.4 | -11.3 |
Cash contributions from noncontrolling interests (see Note 10) | 104.2 | 6.5 |
Net cash proceeds from issuance of common units | 1,134.70 | 658.6 |
Acquisition of treasury units | -36.1 | -19.6 |
Other financing activities | -8.4 | -3.8 |
Cash provided by (used in) financing activities | 564.8 | 273.9 |
Net change in cash and cash equivalents | -6.5 | -5.3 |
Cash and cash equivalents, January 1 | 16.1 | 19.8 |
Cash and cash equivalents, September 30 | $9.60 | $14.50 |
UNAUDITED_CONDENSED_STATEMENTS3
UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED EQUITY (USD $) | Total | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interests [Member] | Limited Partners [Member] |
In Millions, unless otherwise specified | ||||
Balance at Dec. 31, 2011 | $12,219.30 | ($351.40) | $105.90 | $12,464.80 |
Increase (Decrease) in Partners' Capital [Roll Forward] | ' | ' | ' | ' |
Net income | 1,810.60 | 0 | 6.2 | 1,804.40 |
Cash distributions paid to limited partners | -1,613.40 | 0 | 0 | -1,613.40 |
Cash distributions paid to noncontrolling interests | -11.3 | 0 | -11.3 | 0 |
Cash contributions from noncontrolling interests | 6.5 | 0 | 6.5 | 0 |
Net cash proceeds from the issuance of common units | 658.6 | 0 | 0 | 658.6 |
Amortization of fair value of equity-based awards | 45.9 | 0 | 0 | 45.9 |
Cash flow hedges | -40.4 | -40.4 | 0 | 0 |
Other | -17.9 | 3.5 | 1 | -22.4 |
Balance at Sep. 30, 2012 | 13,057.90 | -388.3 | 108.3 | 13,337.90 |
Balance at Dec. 31, 2012 | 13,296 | -370.4 | 108.3 | 13,558.10 |
Increase (Decrease) in Partners' Capital [Roll Forward] | ' | ' | ' | ' |
Net income | 1,901.40 | 0 | 3.4 | 1,898 |
Cash distributions paid to limited partners | -1,778.30 | 0 | 0 | -1,778.30 |
Cash distributions paid to noncontrolling interests | -6.4 | 0 | -6.4 | 0 |
Cash contributions from noncontrolling interests | 104.2 | 0 | 104.2 | 0 |
Net cash proceeds from the issuance of common units | 1,134.70 | 0 | 0 | 1,134.70 |
Amortization of fair value of equity-based awards | 53.5 | 0 | 0 | 53.5 |
Cash flow hedges | 20.7 | 20.7 | 0 | 0 |
Other | -43.6 | 0.4 | 0.6 | -44.6 |
Balance at Sep. 30, 2013 | $14,682.20 | ($349.30) | $210.10 | $14,821.40 |
Partnership_Operations_and_Org
Partnership Operations and Organization | 9 Months Ended |
Sep. 30, 2013 | |
Partnership Operations and Organization [Abstract] | ' |
Partnership Operations, Organization and Basis of Presentation | ' |
Note 1. Partnership Operations and Organization | |
General | |
We are a publicly traded Delaware limited partnership, the common units of which are listed on the New York Stock Exchange ("NYSE") under the ticker symbol "EPD." We were formed in April 1998 to own and operate certain natural gas liquids ("NGLs") related businesses of EPCO and are now a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. | |
Our integrated midstream energy asset network links producers of natural gas, NGLs and crude oil from some of the largest supply basins in the United States ("U.S."), Canada and Gulf of Mexico with domestic consumers and international markets. Our midstream energy operations include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals (including liquefied petroleum gas or "LPG"); crude oil gathering, transportation, storage and terminals; offshore production platforms; petrochemical and refined products transportation and services; and a marine transportation business that operates primarily on the U.S. inland and Intracoastal Waterway systems and in the Gulf of Mexico. Our assets include approximately 51,000 miles of onshore and offshore pipelines; 200 million barrels ("MMBbls") of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet ("Bcf") of natural gas storage capacity. In addition, our asset portfolio includes 24 natural gas processing plants, 22 NGL and propylene fractionators, six offshore hub platforms located in the Gulf of Mexico, a butane isomerization complex, NGL import and export terminals, and octane enhancement and high-purity isobutylene production facilities. | |
We have five reportable business segments: (i) NGL Pipelines & Services; (ii) Onshore Natural Gas Pipelines & Services; (iii) Onshore Crude Oil Pipelines & Services; (iv) Offshore Pipelines & Services; and (v) Petrochemical & Refined Products Services. All activities included in our former sixth reportable business segment, Other Investments, ceased on January 18, 2012, which was the date we discontinued using the equity method to account for our previously held investment in Energy Transfer Equity L.P. (together with its subsidiaries, "Energy Transfer Equity") (see "Liquidation of Investment in Energy Transfer Equity" under Note 7). | |
We are 100% owned by our limited partners from an economic perspective. We are managed and controlled by Enterprise GP, which has a non-economic general partner interest in us. We, Enterprise GP, EPCO and Dan Duncan LLC are affiliates under the collective common control of the DD LLC Trustees and the EPCO Trustees. We have no employees. All of our operating functions and general and administrative support services are provided by employees of EPCO pursuant to an administrative services agreement (the "ASA") or by other service providers. See Note 12 for information regarding related party matters. |
General_Accounting_Matters
General Accounting Matters | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
General Accounting Matters [Abstract] | ' | ||||||||||||||||
General Accounting Matters | ' | ||||||||||||||||
Note 2. General Accounting Matters | |||||||||||||||||
Our results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of results expected for the full year of 2013. In our opinion, the accompanying Unaudited Condensed Consolidated Financial Statements include all adjustments consisting of normal recurring accruals necessary for fair presentation. Although we believe the disclosures in these financial statements are adequate and make the information presented not misleading, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). | |||||||||||||||||
These Unaudited Condensed Consolidated Financial Statements and the Notes thereto should be read in conjunction with the Audited Consolidated Financial Statements and Notes thereto included in our annual report on Form 10-K for the year ended December 31, 2012 (the "2012 Form 10-K") filed with the SEC on March 1, 2013. | |||||||||||||||||
Allowance for Doubtful Accounts | |||||||||||||||||
Our allowance for doubtful accounts is determined based on specific identification and estimates of future uncollectible accounts. The following table presents our allowance for doubtful accounts activity for the periods indicated: | |||||||||||||||||
For the Nine Months | |||||||||||||||||
Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance at beginning of period | $ | 13.2 | $ | 13.4 | |||||||||||||
Charged to costs and expenses | 1.2 | 0.2 | |||||||||||||||
Deductions | (7.7 | ) | (0.4 | ) | |||||||||||||
Balance at end of period | $ | 6.7 | $ | 13.2 | |||||||||||||
Contingencies | |||||||||||||||||
Certain conditions may exist as of the date our consolidated financial statements are issued, which may result in a loss to us but which will only be resolved when one or more future events occur or fail to occur. Management has regular quarterly litigation reviews, including updates from legal counsel, to assess the need for accounting recognition or disclosure of these contingencies, and such assessment inherently involves an exercise in judgment. In assessing loss contingencies related to legal proceedings that are pending against us or unasserted claims that may result in such proceedings, our management and legal counsel evaluate the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. | |||||||||||||||||
We accrue an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. We do not record a contingent liability when the likelihood of loss is probable but the amount cannot be reasonably estimated or when it is believed to be only reasonably possible or remote. | |||||||||||||||||
For contingencies where an unfavorable outcome is reasonably possible and the impact would be material, we disclose the nature of the contingency and, if feasible, an estimate of the possible loss or range of loss. | |||||||||||||||||
Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. See Note 14 for additional information regarding our contingencies. | |||||||||||||||||
Derivative Instruments | |||||||||||||||||
We use derivative instruments such as futures, swaps, options, forward contracts and other arrangements to manage price risks associated with inventories, firm commitments, interest rates, foreign currencies and certain anticipated future commodity transactions. To qualify for hedge accounting, the hedged item must expose us to risk and the related derivative instrument must reduce the exposure to that risk and meet specific hedge documentation requirements related to designation dates, expectations for hedge effectiveness and the probability that hedged future transactions will occur as forecasted. We formally designate derivative instruments as hedges and document and assess their effectiveness at inception of the hedge and on a monthly basis thereafter. Forecasted transactions are evaluated for the probability of occurrence and are periodically back-tested once the forecasted period has passed to determine whether similarly forecasted transactions are probable of occurring in the future. | |||||||||||||||||
For certain physical forward commodity derivative contracts, we apply the normal purchase/normal sale exception, whereby changes in the mark-to-market values of such contracts are not recognized in income. As a result, the revenues and expenses associated with such physical transactions are recognized during the period when volumes are physically delivered or received. Physical forward commodity contracts subject to this exception are evaluated for the probability of future delivery and are periodically back-tested once the forecasted period has passed to determine whether similar forward contracts are probable of physical delivery in the future. | |||||||||||||||||
See Note 4 for additional information regarding our derivative instruments. | |||||||||||||||||
Estimates | |||||||||||||||||
Preparing our consolidated financial statements in conformity with U.S. GAAP requires us to make estimates that affect amounts presented in the financial statements. Our most significant estimates relate to (i) the useful lives and depreciation/amortization methods used for fixed and identifiable intangible assets; (ii) measurement of fair value and projections used in impairment testing of fixed and intangible assets (including goodwill); (iii) contingencies; and (iv) revenue and expense accruals. | |||||||||||||||||
Actual results could differ materially from our estimates. On an ongoing basis, we review our estimates based on currently available information. Any changes in the facts and circumstances underlying our estimates may require us to update such estimates, which could have a material impact on our consolidated financial statements. | |||||||||||||||||
Provision for Income Taxes | |||||||||||||||||
Provision for income taxes primarily reflects our state tax obligations under the Revised Texas Franchise Tax (the "Texas Margin Tax"). Deferred income tax assets and liabilities are recognized for temporary differences between the assets and liabilities of our tax paying entities for financial reporting and tax purposes. | |||||||||||||||||
We recognized an overall net income tax benefit of $23.5 million for the nine months ended September 30, 2012 that was primarily due to a $46.5 million net income tax benefit related to the conversion of certain of our subsidiaries to limited liability companies during the first quarter of 2012, partially offset by accruals for the Texas Margin Tax. The $46.5 million net income tax benefit recorded in 2012 is attributable to the difference between deferred income taxes accrued by the applicable subsidiaries through the date of conversion and any current income tax due in connection with the conversions. After taking into account certain tax loss carryforward amounts, we paid $22.0 million in federal income taxes in connection with the conversions. | |||||||||||||||||
We recognized a net income tax expense of $46.2 million for the nine months ended September 30, 2013, of which $19.6 million of expense was attributable to certain legislative changes to the Texas Margin Tax enacted during the second quarter of 2013. Our current provision for income taxes was $14.1 million and our deferred income tax expense was $32.1 million for the nine months ended September 30, 2013. | |||||||||||||||||
Other Non-Operating Income (Expense) | |||||||||||||||||
The following table presents the components of "Other, net" as presented on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Gain on sales of available-for-sale securities of Energy Transfer Equity (1) | $ | -- | $ | -- | $ | -- | $ | 68.8 | |||||||||
Distribution income from Energy Transfer Equity | -- | -- | -- | 4.1 | |||||||||||||
Other | 0.4 | 1.2 | (0.5 | ) | (0.2 | ) | |||||||||||
Total | $ | 0.4 | $ | 1.2 | $ | (0.5 | ) | $ | 72.7 | ||||||||
(1) See Note 7 for information regarding the liquidation of our investment in limited partnership units of Energy Transfer Equity. | |||||||||||||||||
Restricted Cash | |||||||||||||||||
Restricted cash represents amounts held in bank accounts as margin in support of our commodity derivative instruments portfolio and related physical natural gas, crude oil, refined products and NGL purchases and sales. Additional cash may be restricted to maintain this portfolio as commodity prices fluctuate or deposit requirements change. At September 30, 2013 and December 31, 2012, our restricted cash amounts were $35.9 million and $4.3 million, respectively. See Note 4 for information regarding our derivative instruments and hedging activities. |
Equitybased_Awards
Equity-based Awards | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Equity-based Awards [Abstract] | ' | ||||||||||||||||
Equity-based Awards | ' | ||||||||||||||||
Note 3. Equity-based Awards | |||||||||||||||||
An allocated portion of the fair value of EPCO's equity-based awards is charged to us under the ASA. The following table summarizes the compensation expense we recognized in connection with equity-based awards for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Restricted common unit awards | $ | 17.8 | $ | 13.8 | $ | 52.7 | $ | 44.3 | |||||||||
Unit option awards | 0.1 | 0.2 | 0.7 | 1.2 | |||||||||||||
Other (1) | 0.1 | 0.2 | 0.4 | 1.6 | |||||||||||||
Total | $ | 18 | $ | 14.2 | $ | 53.8 | $ | 47.1 | |||||||||
(1) Primarily represents expense associated with unit appreciation rights ("UARs"), phantom units and similar awards. | |||||||||||||||||
The fair value of equity-classified awards (e.g., restricted common unit and unit option awards) is amortized to earnings over the requisite service or vesting period. Compensation expense for liability-classified awards (e.g., UARs and phantom units) is recognized over the requisite service or vesting period based on the fair value of the award remeasured at each reporting date. Liability-classified awards are settled in cash upon vesting. | |||||||||||||||||
At September 30, 2013, EPCO's significant long-term incentive plans applicable to us were the Enterprise Products 1998 Long-Term Incentive Plan ("1998 Plan") and the 2008 Enterprise Products Long-Term Incentive Plan (Third Amendment and Restatement) ("2008 Plan"). | |||||||||||||||||
In September 2013, our unitholders approved the third amendment and restatement of the 2008 Plan, which was also approved by the Audit and Conflicts Committee (the "AC Committee") of the board of directors of our general partner. The 2008 Plan (as amended and restated) is a long-term incentive plan under which any employee or consultant of EPCO, us or our affiliates that provides services to us, directly or indirectly, may receive incentive compensation awards in the form of options, restricted units, phantom units, distribution equivalent rights, UARs, unit awards, other unit-based awards or substitute awards. Non-employee directors of our general partner may also participate in the 2008 Plan. | |||||||||||||||||
The 2008 Plan is administered by the AC Committee, which has significant authority thereunder to, among other things, (i) designate participants; (ii) determine the type or types of award(s) and the number of common units to be covered by any award; (iii) determine the terms and conditions of any award; and (iv) determine whether, to what extent and under what circumstances participants may settle, exercise, cancel or forfeit any award. | |||||||||||||||||
The maximum number of common units available for issuance under the 2008 Plan is currently 10,000,000, and will automatically increase under the terms of the 2008 Plan by 2,500,000 common units per year, beginning on January 1, 2014 and subsequently on each January 1 thereafter during the term of the 2008 Plan; provided, however, that in no event shall the maximum aggregate number exceed 35,000,000 common units. The 2008 Plan is effective until September 30, 2023 or, if earlier, at the time that all available common units under the 2008 Plan have been delivered to participants or the time of termination of the 2008 Plan by the board of directors of EPCO or by the AC Committee. | |||||||||||||||||
After giving effect to awards granted under the 1998 Plan and 2008 Plan through September 30, 2013 and the September 2013 amendments reflected in the 2008 Plan, a total of 1,151,778 and 4,333,287 additional common units could be issued under these plans, respectively, as of September 30, 2013. | |||||||||||||||||
Restricted Common Unit Awards | |||||||||||||||||
Restricted common unit awards allow recipients to acquire our common units (at no cost to the recipient apart from service or other conditions) once a defined vesting period expires, subject to customary forfeiture provisions. As used in the context of EPCO's long-term incentive plans, the term "restricted common unit" represents a time-vested unit. Restricted common unit awards generally vest at a rate of 25% per year beginning one year after the grant date. Such awards are non-vested until the required service period expires. Restricted common units are included in the number of common units presented on our Unaudited Condensed Consolidated Balance Sheets. | |||||||||||||||||
The fair value of a restricted common unit award is based on the market price per unit of the underlying security on the date of grant. Compensation expense is recognized based on the grant date fair value, net of an allowance for estimated forfeitures, over the requisite service or vesting period. | |||||||||||||||||
The following table presents information regarding restricted common unit awards for the period indicated: | |||||||||||||||||
Number of | Weighted- | ||||||||||||||||
Units | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
per Unit (1) | |||||||||||||||||
Restricted common units at December 31, 2012 | 3,893,486 | $ | 40.87 | ||||||||||||||
Granted (2,3) | 1,769,076 | $ | 57.2 | ||||||||||||||
Vested (3) | (1,846,198 | ) | $ | 34.77 | |||||||||||||
Forfeited | (159,832 | ) | $ | 47.4 | |||||||||||||
Restricted common units at September 30, 2013 | 3,656,532 | $ | 51.56 | ||||||||||||||
(1) Determined by dividing the aggregate grant date fair value of awards (before an allowance for forfeitures) by the number of awards issued. | |||||||||||||||||
(2) The aggregate grant date fair value of restricted common unit awards issued during 2013 was $101.2 million based on a grant date market price of our common units ranging from $57.11 to $61.58 per unit. An estimated annual forfeiture rate of 3.9% was applied to these awards. | |||||||||||||||||
(3) Includes awards granted to the independent directors of the board of directors of Enterprise GP as part of their annual compensation for 2013. A total of 9,296 restricted common unit awards were issued to the independent directors of Enterprise GP, which immediately vested upon issuance. | |||||||||||||||||
Typically, each recipient is also entitled to nonforfeitable cash distributions equal to the product of the number of restricted common units outstanding for the participant and the cash distribution per unit paid to limited partners. Since these restricted common units are participating securities, such distributions are included in "Cash distributions paid to limited partners" as presented on our Unaudited Condensed Statements of Consolidated Cash Flows. | |||||||||||||||||
The following table presents supplemental information regarding restricted common unit awards for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cash distributions paid to restricted common unitholders | $ | 2.6 | $ | 2.5 | $ | 8.2 | $ | 7.9 | |||||||||
Total intrinsic value of restricted common unit awards that vested during period | 1 | 1.5 | 107.4 | 64.2 | |||||||||||||
For the EPCO group of companies, the unrecognized compensation cost associated with restricted common unit awards was an aggregate $91.3 million at September 30, 2013, of which our allocated share of the cost is currently estimated to be $83.4 million. We expect to recognize our share of the unrecognized compensation cost for these awards over a weighted-average period of 2.0 years. | |||||||||||||||||
Unit Option Awards | |||||||||||||||||
EPCO's long-term incentive plans provide for the issuance of non-qualified incentive options. These unit option awards are denominated in our common units. When issued, the exercise price of each unit option award may be no less than the market price of our common units on the date of grant. In general, unit option awards have a vesting period of four years from the date of grant and expire at the end of the calendar year following the year of vesting (e.g., an option vesting on May 29, 2012 will expire on December 31, 2013). However, unit option awards only become exercisable at certain times during the calendar year following the year in which they vest (typically the months of February, May, August and November). | |||||||||||||||||
The fair value of each unit option award is estimated on the date of grant using a Black-Scholes option pricing model. Compensation expense recorded in connection with unit option awards is based on the grant date fair value, net of an allowance for estimated forfeitures, over the requisite service or vesting period. The following table presents unit option award activity for the period indicated: | |||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||||||
Units | Average | Average | Intrinsic | ||||||||||||||
Strike Price | Remaining | Value (1) | |||||||||||||||
(dollars/unit) | Contractual | ||||||||||||||||
Term | |||||||||||||||||
(in years) | |||||||||||||||||
Unit option awards at December 31, 2012 | 2,761,140 | $ | 27.41 | 2 | $ | 13 | |||||||||||
Exercised | (736,140 | ) | $ | 29.95 | |||||||||||||
Unit option awards at September 30, 2013 | 2,025,000 | $ | 26.49 | 1.6 | $ | 50 | |||||||||||
Options exercisable at September 30, 2013 | -- | $ | -- | -- | $ | -- | |||||||||||
(1) Aggregate intrinsic value reflects fully vested unit option awards at the date indicated. | |||||||||||||||||
In order to fund its unit option award-related obligations, EPCO may purchase common units at fair value either in the open market or directly from us. When employees exercise unit option awards, we reimburse EPCO for the cash difference between the strike price paid by the employee and the actual purchase price paid by EPCO for the units issued to the employee. | |||||||||||||||||
The following table presents supplemental information regarding unit option awards during the periods indicated: | |||||||||||||||||
For the Nine Months | |||||||||||||||||
Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Total intrinsic value of unit option awards exercised during period | $ | 19.8 | $ | 14 | |||||||||||||
Cash received from EPCO in connection with the exercise of unit option awards | 11.5 | 10.2 | |||||||||||||||
Unit option award-related cash reimbursements to EPCO | 19.8 | 14 | |||||||||||||||
There were no option exercises or related cash receipts or reimbursements during the three months ended September 30, 2013 or 2012. | |||||||||||||||||
For the EPCO group of companies, the unrecognized compensation cost associated with unit option awards was an aggregate $0.2 million at September 30, 2013. We expect to be allocated substantially all of the cost of these awards over a weighted-average period of 0.4 years. |
Derivative_Instruments_Hedging
Derivative Instruments, Hedging Activities and Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments, Hedging Activities and Fair Value Measurements [Abstract] | ' | ||||||||||||||||||||||||||||
Derivative Instruments, Hedging Activities and Fair Value Measurements | ' | ||||||||||||||||||||||||||||
Note 4. Derivative Instruments, Hedging Activities and Fair Value Measurements | |||||||||||||||||||||||||||||
In the normal course of our business operations, we are exposed to certain risks, including changes in interest rates and commodity prices. In order to manage risks associated with assets, liabilities and certain anticipated future transactions, we use derivative instruments such as futures, forward contracts, swaps, options and other instruments with similar characteristics. Substantially all of our derivatives are used for non-trading activities. | |||||||||||||||||||||||||||||
We are required to recognize derivative instruments at fair value as either assets or liabilities on our Unaudited Condensed Consolidated Balance Sheets unless such instruments meet certain normal purchase/normal sale criteria. While all derivatives are required to be reported at fair value on the balance sheet, changes in fair value of derivative instruments are reported in different ways, depending on the nature and effectiveness of the hedging activities to which they relate. After meeting specified conditions, a qualified derivative may be designated as a total or partial hedge of: | |||||||||||||||||||||||||||||
§ | Changes in the fair value of a recognized asset or liability, or an unrecognized firm commitment – In a fair value hedge, gains and losses for both the derivative instrument and the hedged item are recognized in income during the period of change. | ||||||||||||||||||||||||||||
§ | Variable cash flows of a forecasted transaction – In a cash flow hedge, the effective portion of the hedge is reported in other comprehensive income (loss) and is reclassified into earnings when the forecasted transaction affects earnings. | ||||||||||||||||||||||||||||
An effective hedge relationship is one in which the change in fair value of a derivative instrument can be expected to offset 80% to 125% of the changes in fair value of a hedged item at inception and throughout the life of the hedging relationship. The effective portion of a hedge relationship is the amount by which the derivative instrument exactly offsets the change in fair value of the hedged item during the reporting period. Conversely, ineffectiveness represents the change in the fair value of the derivative instrument that does not exactly offset the change in the fair value of the hedged item. Any ineffectiveness associated with a hedge relationship is recognized in earnings immediately. Ineffectiveness can be caused by, among other things, changes in the timing of forecasted transactions or a mismatch of terms between the derivative instrument and the hedged item. | |||||||||||||||||||||||||||||
A contract designated as a cash flow hedge of an anticipated transaction that is not probable of occurring is immediately recognized in earnings. | |||||||||||||||||||||||||||||
Certain of our derivative instruments do not qualify for hedge accounting treatment; therefore, they are accounted for using mark-to-market accounting. | |||||||||||||||||||||||||||||
Interest Rate Hedging Activities | |||||||||||||||||||||||||||||
We may utilize interest rate swaps, forward starting swaps and similar derivative instruments to manage our exposure to changes in interest rates charged on borrowings under certain consolidated debt agreements. This strategy is a component in controlling our overall cost of capital associated with such borrowings. Interest rate swaps exchange the stated interest rate paid on a notional amount of existing debt for the fixed or floating interest rate stipulated in the derivative instrument. | |||||||||||||||||||||||||||||
The following table summarizes our portfolio of interest rate swaps at September 30, 2013: | |||||||||||||||||||||||||||||
Hedged Transaction | Number and Type | Notional | Period of | Rate | Accounting | ||||||||||||||||||||||||
of Derivatives | Amount | Hedge | Swap | Treatment | |||||||||||||||||||||||||
Outstanding | |||||||||||||||||||||||||||||
Senior Notes AA | 10 fixed-to-floating swaps | $ | 750 | 1/2011 to 2/2016 | 3.2% to 1.2% | Fair value hedge | |||||||||||||||||||||||
Undesignated swaps | 6 floating-to-fixed swaps | $ | 600 | 5/2010 to 7/2014 | 0.3% to 2.0% | Mark-to-market | |||||||||||||||||||||||
In February 2012, we settled 11 fixed-to-floating interest rate swaps having an aggregate notional amount of $800.0 million, resulting in gains totaling $37.7 million. These gains are being amortized to earnings (as a decrease in interest expense) using the effective interest method over the forecasted hedged period of three years. | |||||||||||||||||||||||||||||
At December 31, 2012, our portfolio of forward starting interest rate swaps consisted of 16 derivative instruments having an aggregate notional amount of $1.0 billion. Forward starting swaps hedge the expected underlying benchmark interest rates related to future issuances of debt. We accounted for these derivative instruments as cash flow hedges. In connection with the issuance of Senior Notes II and HH in March 2013 (see Note 9), we settled all 16 forward starting swaps that were outstanding at December 31, 2012, which resulted in cash payments totaling $168.8 million. These losses are a component of accumulated other comprehensive loss and are being amortized to earnings (as an increase in interest expense) over the forecasted hedge period of ten years using the effective interest method. | |||||||||||||||||||||||||||||
In connection with the issuance of Senior Notes EE in February 2012, we settled ten forward starting swaps having an aggregate notional amount of $500.0 million, resulting in cash payments totaling $115.3 million. These losses are a component of accumulated other comprehensive loss and are being amortized to earnings (as an increase in interest expense) over the forecasted hedge period of ten years using the effective interest method. | |||||||||||||||||||||||||||||
In connection with EPO's issuance of Senior Notes FF and Senior Notes GG in August 2012, we settled seven forward starting swaps having an aggregate notional amount of $350.0 million, resulting in cash losses of $70.2 million. These losses are reflected in accumulated other comprehensive loss and will be amortized to earnings (as an increase in interest expense) over the forecasted hedged period of ten years using the effective interest method. | |||||||||||||||||||||||||||||
Commodity Hedging Activities | |||||||||||||||||||||||||||||
The prices of natural gas, NGLs, crude oil, refined products and petrochemical products are subject to fluctuations in response to changes in supply and demand, market conditions and a variety of additional factors that are beyond our control. In order to manage such price risks, we enter into commodity derivative instruments such as physical forward contracts, futures contracts, fixed-for-float swaps, basis swaps and option contracts. The following table summarizes our portfolio of commodity derivative instruments outstanding at September 30, 2013 (volume measures as noted): | |||||||||||||||||||||||||||||
Volume (1) | Accounting | ||||||||||||||||||||||||||||
Derivative Purpose | Current (2) | Long-Term (2) | Treatment | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||
Natural gas processing: | |||||||||||||||||||||||||||||
Forecasted sales of NGLs (MMBbls) | 0.1 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Octane enhancement: | |||||||||||||||||||||||||||||
Forecasted purchases of NGLs (MMBbls) | 1 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Forecasted sales of octane enhancement products (MMBbls) | 3.2 | 0.7 | Cash flow hedge | ||||||||||||||||||||||||||
Natural gas marketing: | |||||||||||||||||||||||||||||
Forecasted sales of natural gas (Bcf) | 2.4 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Natural gas storage inventory management activities (Bcf) | 10 | n/a | Fair value hedge | ||||||||||||||||||||||||||
NGL marketing: | |||||||||||||||||||||||||||||
Forecasted purchases of NGLs and related hydrocarbon products (MMBbls) | 3.6 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Forecasted sales of NGLs and related hydrocarbon products (MMBbls) | 7.3 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Refined products marketing: | |||||||||||||||||||||||||||||
Forecasted purchases of refined products (MMBbls) | 0.8 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Forecasted sales of refined products (MMBbls) | 1 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Crude oil marketing: | |||||||||||||||||||||||||||||
Forecasted purchases of crude oil (MMBbls) | 3.7 | 0.3 | Cash flow hedge | ||||||||||||||||||||||||||
Forecasted sales of crude oil (MMBbls) | 5.1 | 0.5 | Cash flow hedge | ||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||
Natural gas risk management activities (Bcf) (3,4) | 112.2 | 23.8 | Mark-to-market | ||||||||||||||||||||||||||
Refined products risk management activities (MMBbls) (4) | 0.6 | n/a | Mark-to-market | ||||||||||||||||||||||||||
Crude oil risk management activities (MMBbls) (4) | 11 | 0.9 | Mark-to-market | ||||||||||||||||||||||||||
(1) Volume for derivatives designated as hedging instruments reflects the total amount of volumes hedged whereas volume for derivatives not designated as hedging instruments reflects the absolute value of derivative notional volumes. | |||||||||||||||||||||||||||||
(2) The maximum term for derivatives designated as cash flow hedges, derivatives designated as fair value hedges and derivatives not designated as hedging instruments is January 2015, May 2014 and October 2016, respectively. | |||||||||||||||||||||||||||||
(3) Current and long-term volumes include 52.0 Bcf and 0.3 Bcf, respectively, of physical derivative instruments that are predominantly priced at a marked-based index plus a premium or minus a discount related to location differences. | |||||||||||||||||||||||||||||
(4) Reflects the use of derivative instruments to manage risks associated with transportation, processing and storage assets. | |||||||||||||||||||||||||||||
At September 30, 2013, our predominant commodity hedging strategies consisted of (i) hedging anticipated future purchases and sales of commodity products associated with transportation, storage and blending activities, (ii) hedging the fair value of commodity products held in inventory, (iii) hedging natural gas processing margins, and (iv) hedging octane enhancement margins. The following information summarizes these hedging strategies: | |||||||||||||||||||||||||||||
§ | The objective of our anticipated future commodity purchases and sales hedging program is to hedge the margins of certain transportation, storage and blending activities by locking in purchases and sales prices through the use of forward contracts and derivative instruments. | ||||||||||||||||||||||||||||
§ | The objective of our inventory hedging program is to hedge the fair value of commodity products currently held in inventory by locking in the sales price of the inventory through the use of forward contracts and derivative instruments. | ||||||||||||||||||||||||||||
§ | The objective of our natural gas processing hedging program is to hedge an amount of gross margin associated with these activities. We achieve this objective by executing forward fixed-price sales of a portion of our expected equity NGL production using forward contracts and commodity derivative instruments. For certain natural gas processing contracts, the hedging of expected equity NGL production also involves the purchase of natural gas for plant thermal reduction, which is hedged by executing forward fixed-price purchases using forward contracts and derivative instruments. | ||||||||||||||||||||||||||||
§ | The objective of our octane enhancement hedging program is to hedge an amount of gross margin associated with these activities. We achieve this objective by executing forward fixed-price sales of a portion of our expected octane enhancement product volumes and forward fixed-price purchases of NGL feedstocks using forward contracts and derivative instruments. | ||||||||||||||||||||||||||||
Certain basis swaps, basis spread options and other derivative instruments not designated as hedging instruments are used to manage market risks associated with anticipated purchases and sales of commodity products. There is some uncertainty involved in the timing of these transactions often due to the development of more favorable profit opportunities or when spreads are insufficient to cover variable costs thus reducing the likelihood that the transactions will occur during the periods originally forecasted. In accordance with derivatives accounting guidance, these instruments do not qualify for hedge accounting even though they are effective at managing the risk exposures of the underlying assets. Due to volatility in commodity prices, any non-cash, mark-to-market earnings variability cannot be predicted. | |||||||||||||||||||||||||||||
Tabular Presentation of Fair Value Amounts, Gains and Losses on | |||||||||||||||||||||||||||||
Derivative Instruments and Related Hedged Items | |||||||||||||||||||||||||||||
The following table provides a balance sheet overview of our derivative assets and liabilities at the dates indicated: | |||||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||
Balance | Fair | Balance | Fair | Balance | Fair | Balance | Fair | ||||||||||||||||||||||
Sheet | Value | Sheet | Value | Sheet | Value | Sheet | Value | ||||||||||||||||||||||
Location | Location | Location | Location | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||||||||
Interest rate derivatives | Other current | $ | 16.5 | Other current | $ | 19.6 | Other current | $ | -- | Other current | $ | 175.4 | |||||||||||||||||
assets | assets | liabilities | liabilities | ||||||||||||||||||||||||||
Interest rate derivatives | Other assets | 14.9 | Other assets | 25.6 | Other liabilities | -- | Other liabilities | -- | |||||||||||||||||||||
Total interest rate derivatives | 31.4 | 45.2 | -- | 175.4 | |||||||||||||||||||||||||
Commodity derivatives | Other current | 46.6 | Other current | 45.3 | Other current | 45.8 | Other current | 35.4 | |||||||||||||||||||||
assets | assets | liabilities | liabilities | ||||||||||||||||||||||||||
Commodity derivatives | Other assets | 4.2 | Other assets | -- | Other liabilities | 1.6 | Other liabilities | 0.5 | |||||||||||||||||||||
Total commodity derivatives | 50.8 | 45.3 | 47.4 | 35.9 | |||||||||||||||||||||||||
Total derivatives designated as hedging instruments | $ | 82.2 | $ | 90.5 | $ | 47.4 | $ | 211.3 | |||||||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||||
Interest rate derivatives | Other current | $ | -- | Other current | $ | -- | Other current | $ | 10.3 | Other current | $ | 12.2 | |||||||||||||||||
assets | assets | liabilities | liabilities | ||||||||||||||||||||||||||
Interest rate derivatives | Other assets | -- | Other assets | -- | Other liabilities | -- | Other liabilities | 5 | |||||||||||||||||||||
Total interest rate derivatives | -- | -- | 10.3 | 17.2 | |||||||||||||||||||||||||
Commodity derivatives | Other current | 16.1 | Other current | 15.7 | Other current | 2.5 | Other current | 8.9 | |||||||||||||||||||||
assets | assets | liabilities | liabilities | ||||||||||||||||||||||||||
Commodity derivatives | Other assets | 2.6 | Other assets | 0.6 | Other liabilities | 2 | Other liabilities | 0.7 | |||||||||||||||||||||
Total commodity derivatives | 18.7 | 16.3 | 4.5 | 9.6 | |||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | $ | 18.7 | $ | 16.3 | $ | 14.8 | $ | 26.8 | |||||||||||||||||||||
Certain of our commodity derivative instruments are subject to master netting arrangements or similar agreements. The following tables present our derivative instruments subject to such arrangements at the dates indicated: | |||||||||||||||||||||||||||||
Offsetting of Financial Assets and Derivative Assets | |||||||||||||||||||||||||||||
Gross | Gross | Amounts | Gross Amounts Not Offset | Amounts That | |||||||||||||||||||||||||
Amounts of | Amounts | of Assets | in the Balance Sheet | Would Have | |||||||||||||||||||||||||
Recognized | Offset in the | Presented | Been Presented | ||||||||||||||||||||||||||
Assets | Balance | in the | On Net Basis | ||||||||||||||||||||||||||
Sheet | Balance Sheet | Financial Instruments | Cash | Cash | |||||||||||||||||||||||||
Collateral | Collateral | ||||||||||||||||||||||||||||
Received | Paid | ||||||||||||||||||||||||||||
(i) | (ii) | (iii) =i) – (ii) | (iv) | (v) =iii) + (iv) | |||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commodity derivatives | $ | 69.5 | $ | -- | $ | 69.5 | $ | (44.9 | ) | $ | -- | $ | (16.1 | ) | $ | 8.5 | |||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||||||
Commodity derivatives | $ | 61.6 | $ | -- | $ | 61.6 | $ | (38.7 | ) | $ | (15.2 | ) | $ | -- | $ | 7.7 | |||||||||||||
Offsetting of Financial Liabilities and Derivative Liabilities | |||||||||||||||||||||||||||||
Gross | Gross | Amounts | Gross Amounts Not Offset | Amounts That | |||||||||||||||||||||||||
Amounts of | Amounts | of Liabilities | in the Balance Sheet | Would Have | |||||||||||||||||||||||||
Recognized | Offset in the | Presented | Been Presented | ||||||||||||||||||||||||||
Liabilities | Balance Sheet | in the | On Net Basis | ||||||||||||||||||||||||||
Balance Sheet | Financial | Cash | |||||||||||||||||||||||||||
Instruments | Collateral | ||||||||||||||||||||||||||||
Paid | |||||||||||||||||||||||||||||
(i) | (ii) | (iii) =i) – (ii) | (iv) | (v) =iii) + (iv) | |||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commodity derivatives | $ | 51.9 | $ | -- | $ | 51.9 | $ | (44.9 | ) | $ | -- | $ | 7 | ||||||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||||||
Commodity derivatives | $ | 45.5 | $ | -- | $ | 45.5 | $ | (38.7 | ) | $ | (4.3 | ) | $ | 2.5 | |||||||||||||||
Derivative assets and liabilities recorded in our Unaudited Condensed Consolidated Balance Sheets are presented on a gross-basis and determined at the individual transaction level. This presentation method is applied regardless of whether the respective exchange clearing agreements, counterparty contracts or master netting agreements contain netting language often referred to as "rights of offset." Although derivative amounts are presented on a gross-basis, having rights of offset enable the settlement of a net as opposed to gross receivable or payable amount under a counterparty default or liquidation scenario. | |||||||||||||||||||||||||||||
Cash is paid and received as collateral under certain agreements, particularly for those associated with exchange transactions. For any cash collateral payments or receipts, corresponding assets or liabilities are recorded to reflect the variation margin deposits or receipts with exchange clearing brokers and customers. These balances are also presented on a gross-basis in our Unaudited Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||||||
The tabular presentation above provides a means for comparing the gross amount of derivative assets and liabilities, excluding associated accounts payable and receivable, to the net amount that would likely be receivable or payable under a default scenario based on the existence of rights of offset in the respective derivative agreements. Any cash collateral paid or received is reflected in this table, but only to the extent that it represents variation margins. Any amounts associated with derivative prepayments or initial margins that are not influenced by the derivative asset or liability amounts or those that are determined solely on their volumetric notional amounts are excluded from this table. | |||||||||||||||||||||||||||||
The following tables present the effect of our derivative instruments designated as fair value hedges on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: | |||||||||||||||||||||||||||||
Derivatives in Fair Value | Gain (Loss) Recognized in | ||||||||||||||||||||||||||||
Hedging Relationships | Location | Income on Derivative | |||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | Interest expense | $ | (0.5 | ) | $ | 3 | $ | (10.6 | ) | $ | 6.1 | ||||||||||||||||||
Commodity derivatives | Revenue | (3.1 | ) | (0.4 | ) | 3.1 | (16.1 | ) | |||||||||||||||||||||
Total | $ | (3.6 | ) | $ | 2.6 | $ | (7.5 | ) | $ | (10.0 | ) | ||||||||||||||||||
Derivatives in Fair Value | Gain (Loss) Recognized in | ||||||||||||||||||||||||||||
Hedging Relationships | Location | Income on Hedged Item | |||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | Interest expense | $ | 0.4 | $ | (2.9 | ) | $ | 10.3 | $ | (6.3 | ) | ||||||||||||||||||
Commodity derivatives | Revenue | (0.4 | ) | (1.8 | ) | (12.0 | ) | 14.5 | |||||||||||||||||||||
Total | $ | -- | $ | (4.7 | ) | $ | (1.7 | ) | $ | 8.2 | |||||||||||||||||||
With respect to our derivative instruments designated as fair value hedges, amounts attributable to ineffectiveness and those excluded from the assessment of hedge effectiveness were not material to our consolidated financial statements during the periods indicated. | |||||||||||||||||||||||||||||
The following tables present the effect of our derivative instruments designated as cash flow hedges on our Unaudited Condensed Statements of Consolidated Operations and Unaudited Condensed Statements of Consolidated Comprehensive Income for the periods indicated: | |||||||||||||||||||||||||||||
Derivatives in Cash Flow | Change in Value Recognized in | ||||||||||||||||||||||||||||
Hedging Relationships | Other Comprehensive Income (Loss) | ||||||||||||||||||||||||||||
on Derivative (Effective Portion) | |||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | (20.2 | ) | $ | 6.7 | $ | (75.3 | ) | |||||||||||||||||||
Commodity derivatives – Revenue (1) | (8.6 | ) | (59.5 | ) | (22.1 | ) | 0.7 | ||||||||||||||||||||||
Commodity derivatives – Operating costs and expenses (1) | -- | 1 | -- | (13.8 | ) | ||||||||||||||||||||||||
Total | $ | (8.6 | ) | $ | (78.7 | ) | $ | (15.4 | ) | $ | (88.4 | ) | |||||||||||||||||
(1) The fair value of these derivative instruments would be reclassified to their respective locations on the Statement of Consolidated Operations upon settlement of the underlying derivative transactions, as appropriate. | |||||||||||||||||||||||||||||
Derivatives in Cash Flow | Location | Gain (Loss) Reclassified from | |||||||||||||||||||||||||||
Hedging Relationships | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||||||
to Income (Effective Portion) | |||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | Interest expense | $ | (7.7 | ) | $ | (4.5 | ) | $ | (21.4 | ) | $ | (10.9 | ) | ||||||||||||||||
Commodity derivatives | Revenue | (14.6 | ) | 0.3 | (15.1 | ) | (12.3 | ) | |||||||||||||||||||||
Commodity derivatives | Operating costs and expenses | -- | (1.2 | ) | 0.4 | (24.8 | ) | ||||||||||||||||||||||
Total | $ | (22.3 | ) | $ | (5.4 | ) | $ | (36.1 | ) | $ | (48.0 | ) | |||||||||||||||||
Derivatives in Cash Flow | Location | Gain (Loss) Recognized in Income | |||||||||||||||||||||||||||
Hedging Relationships | on Derivative (Ineffective Portion) | ||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Commodity derivatives | Revenue | $ | 0.1 | $ | (1.1 | ) | $ | -- | $ | (0.2 | ) | ||||||||||||||||||
Commodity derivatives | Operating costs and expenses | -- | 0.1 | -- | 0.4 | ||||||||||||||||||||||||
Total | $ | 0.1 | $ | (1.0 | ) | $ | -- | $ | 0.2 | ||||||||||||||||||||
Over the next twelve months, we expect to reclassify $31.7 million of losses attributable to interest rate derivative instruments from accumulated other comprehensive loss to earnings as an increase in interest expense. Likewise, we expect to reclassify $0.2 million of gains attributable to commodity derivative instruments from accumulated other comprehensive loss to earnings as an increase in revenue. | |||||||||||||||||||||||||||||
The following table presents the effect of our derivative instruments not designated as hedging instruments on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: | |||||||||||||||||||||||||||||
Derivatives Not Designated | Location | Gain (Loss) Recognized in | |||||||||||||||||||||||||||
as Hedging Instruments | Income on Derivative | ||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | Interest expense | $ | (0.5 | ) | $ | (2.2 | ) | $ | (0.6 | ) | $ | (5.5 | ) | ||||||||||||||||
Commodity derivatives | Revenue | 8.1 | (3.9 | ) | 17 | 26.2 | |||||||||||||||||||||||
Commodity derivatives | Operating costs and expenses | -- | -- | -- | (2.8 | ) | |||||||||||||||||||||||
Total | $ | 7.6 | $ | (6.1 | ) | $ | 16.4 | $ | 17.9 | ||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||||
Our fair value estimates are based on either (i) actual market data or (ii) assumptions that other market participants would use in pricing an asset or liability, including estimates of risk, in the principal market of the asset or liability at a specified measurement date. Recognized valuation techniques employ inputs such as contractual prices, quoted market prices or rates, operating costs, discount factors and business growth rates. These inputs may be either readily observable, corroborated by market data or generally unobservable. In developing our estimates of fair value, we endeavor to utilize the best information available and apply market-based data to the highest extent possible. Accordingly, we utilize valuation techniques (such as the market approach) that maximize the use of observable inputs and minimize the use of unobservable inputs. | |||||||||||||||||||||||||||||
A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate such fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy. | |||||||||||||||||||||||||||||
Recurring Fair Value Measurements | |||||||||||||||||||||||||||||
The following tables set forth, by level within the fair value hierarchy, the carrying values of our financial assets and liabilities at December 31, 2012 and September 30, 2013. These assets and liabilities are measured on a recurring basis and are classified based on the lowest level of input used to estimate their fair value. Our assessment of the relative significance of such inputs requires judgment. | |||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||||||||||
Markets for | Other | Significant | Carrying | ||||||||||||||||||||||||||
Identical Assets | Observable | Unobservable | Value | ||||||||||||||||||||||||||
and Liabilities | Inputs | Inputs | at December 31, | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | 2012 | ||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | 45.2 | $ | -- | $ | 45.2 | |||||||||||||||||||||
Commodity derivatives | 11.4 | 47.8 | 2.4 | 61.6 | |||||||||||||||||||||||||
Total | $ | 11.4 | $ | 93 | $ | 2.4 | $ | 106.8 | |||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | 192.6 | $ | -- | $ | 192.6 | |||||||||||||||||||||
Commodity derivatives | 13.1 | 28.5 | 3.9 | 45.5 | |||||||||||||||||||||||||
Total | $ | 13.1 | $ | 221.1 | $ | 3.9 | $ | 238.1 | |||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||||||||||
Markets for | Other | Significant | Carrying | ||||||||||||||||||||||||||
Identical Assets | Observable | Unobservable | Value | ||||||||||||||||||||||||||
and Liabilities | Inputs | Inputs | at September 30, | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | 2013 | ||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | 31.4 | $ | -- | $ | 31.4 | |||||||||||||||||||||
Commodity derivatives | 34 | 33.2 | 2.3 | 69.5 | |||||||||||||||||||||||||
Total | $ | 34 | $ | 64.6 | $ | 2.3 | $ | 100.9 | |||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | 10.3 | $ | -- | $ | 10.3 | |||||||||||||||||||||
Commodity derivatives | 19.5 | 30.2 | 2.2 | 51.9 | |||||||||||||||||||||||||
Total | $ | 19.5 | $ | 40.5 | $ | 2.2 | $ | 62.2 | |||||||||||||||||||||
The following table sets forth a reconciliation of changes in the fair values of our recurring Level 3 financial assets and liabilities on a combined basis for the periods indicated: | |||||||||||||||||||||||||||||
For the Nine Months | |||||||||||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||||||||||
Location | 2013 | 2012 | |||||||||||||||||||||||||||
Financial asset (liability) balance, net, January 1 | $ | (1.5 | ) | $ | 0.4 | ||||||||||||||||||||||||
Total gains (losses) included in: | |||||||||||||||||||||||||||||
Net income (1) | Revenue | (0.6 | ) | 0.5 | |||||||||||||||||||||||||
Other comprehensive income | Commodity derivative instruments – changes in fair value of cash flow hedges | -- | 0.5 | ||||||||||||||||||||||||||
Settlements | Revenue | 1.5 | (0.5 | ) | |||||||||||||||||||||||||
Financial asset (liability) balance, net, March 31 | (0.6 | ) | 0.9 | ||||||||||||||||||||||||||
Total gains (losses) included in: | |||||||||||||||||||||||||||||
Net income (1) | Revenue | (0.2 | ) | (1.3 | ) | ||||||||||||||||||||||||
Other comprehensive income | Commodity derivative instruments – changes in fair value of cash flow hedges | -- | 6 | ||||||||||||||||||||||||||
Settlements | Revenue | 0.6 | (0.7 | ) | |||||||||||||||||||||||||
Financial asset (liability) balance, net, June 30 | (0.2 | ) | 4.9 | ||||||||||||||||||||||||||
Total gains (losses) included in: | |||||||||||||||||||||||||||||
Net income (1) | Revenue | 1.1 | (0.6 | ) | |||||||||||||||||||||||||
Other comprehensive income | Commodity derivative instruments – changes in fair value of cash flow hedges | (0.9 | ) | 3.5 | |||||||||||||||||||||||||
Settlements | Revenue | 0.1 | 1.4 | ||||||||||||||||||||||||||
Financial asset (liability) balance, net, September 30 (2) | $ | 0.1 | $ | 9.2 | |||||||||||||||||||||||||
(1) There were unrealized gains of $1.1 million and $2.4 million included in these amounts for the three and nine months ended September 30, 2013, respectively. There were $0.8 million of unrealized gains and $1.1 million of unrealized losses included in these amounts for the three and nine months ended September 30, 2012, respectively. | |||||||||||||||||||||||||||||
(2) There were no transfers into or out of Level 3 during the three or nine months ended September 30, 2013. | |||||||||||||||||||||||||||||
The following table provides quantitative information about our recurring Level 3 fair value measurements at September 30, 2013: | |||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||
Financial | Financial | Valuation | Unobservable | Range | |||||||||||||||||||||||||
Assets | Liabilities | Techniques | Input | ||||||||||||||||||||||||||
Commodity derivatives: | |||||||||||||||||||||||||||||
Crude oil | $ | 1.4 | $ | 0.2 | Discounted cash flow | Forward commodity prices | $91.87-$103.07/barrel | ||||||||||||||||||||||
Propane | 0.1 | -- | Discounted cash flow | Forward commodity prices | $0.97-$1.07/gallon | ||||||||||||||||||||||||
Normal butane | -- | 0.1 | Discounted cash flow | Forward commodity prices | $1.26-$1.38/gallon | ||||||||||||||||||||||||
Natural gasoline | 0.6 | 1.4 | Discounted cash flow | Forward commodity prices | $1.92-$2.07/gallon | ||||||||||||||||||||||||
Natural gas | 0.2 | 0.5 | Discounted cash flow | Forward commodity prices | $3.26-$3.99/MMBtu | ||||||||||||||||||||||||
Total | $ | 2.3 | $ | 2.2 | |||||||||||||||||||||||||
We believe forward commodity prices are the most significant unobservable inputs in determining our Level 3 recurring fair value measurements at September 30, 2013. In general, changes in the price of the underlying commodity increases or decreases the fair value of a commodity derivative depending on whether the derivative was purchased or sold. We generally expect changes in the fair value of our derivative instruments to be offset by corresponding changes in the fair value of our hedged exposures. | |||||||||||||||||||||||||||||
We have a risk management policy that covers our Level 3 commodity derivatives. Governance and oversight of risk management activities for these commodities are provided by our CEO with guidance and support from a risk management committee ("RMC") that meets quarterly (or on a more frequent basis, if needed). Members of executive management attend the RMC meetings, which are chaired by the head of our commodities risk control group. This group is responsible for preparing and distributing daily reports and risk analysis to members of the RMC and other appropriate members of management. These reports include mark-to-market valuations with the one-day and month-to-date changes in fair values. This group also develops and validates the forward commodity price curves used to estimate the fair values of our Level 3 commodity derivatives. These forward curves incorporate published indexes, market quotes and other observable inputs to the extent available. | |||||||||||||||||||||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||||||||||||||||||
The following table summarizes our non-cash asset impairment charges by segment during each of the periods indicated: | |||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
NGL Pipelines & Services | $ | 0.3 | $ | 8.3 | $ | 10 | $ | 16.3 | |||||||||||||||||||||
Onshore Natural Gas Pipelines & Services | -- | 29.2 | -- | 29.2 | |||||||||||||||||||||||||
Onshore Crude Oil Pipelines & Services | -- | -- | 16.6 | 6.2 | |||||||||||||||||||||||||
Offshore Pipelines & Services | 13.2 | 4 | 13.2 | 4 | |||||||||||||||||||||||||
Petrochemical & Refined Products Services | 1.7 | 1.6 | 13.5 | 1.9 | |||||||||||||||||||||||||
Total | $ | 15.2 | $ | 43.1 | $ | 53.3 | $ | 57.6 | |||||||||||||||||||||
These impairment charges are a component of operating costs and expenses on our Unaudited Condensed Statements of Consolidated Operations. | |||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, we recorded $53.3 million of non-cash asset impairment charges primarily due to the abandonment of assets classified as property, plant and equipment. The following table summarizes our non-recurring fair value measurements for the nine months ended September 30, 2013: | |||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||||||||||
Carrying | Markets for | Other | Significant | Total | |||||||||||||||||||||||||
Value at | Identical | Observable | Unobservable | Non-Cash | |||||||||||||||||||||||||
September 30, | Assets | Inputs | Inputs | Impairment | |||||||||||||||||||||||||
2013 | (Level 1) | (Level 2) | (Level 3) | Loss | |||||||||||||||||||||||||
Impairment of long-lived assets disposed of | $ | -- | $ | -- | $ | -- | $ | -- | $ | 43.3 | |||||||||||||||||||
other than by sale (1) | |||||||||||||||||||||||||||||
Impairment of long-lived assets held and used | 6.1 | -- | -- | 6.1 | 4.2 | ||||||||||||||||||||||||
Impairment of long-lived assets to be disposed | 11.7 | 11.7 | -- | -- | 5.8 | ||||||||||||||||||||||||
of by sale | |||||||||||||||||||||||||||||
Total | $ | 53.3 | |||||||||||||||||||||||||||
(1) Our non-cash asset impairment charges for the nine months ended September 30, 2013 primarily represent the abandonment of crude oil and natural gas pipeline segments in Texas, Oklahoma and the Gulf of Mexico, certain refined products terminal assets in Texas, and an NGL storage cavern in Arizona. | |||||||||||||||||||||||||||||
During the nine months ended September 30, 2012, we recorded $57.6 million of non-cash asset impairment charges primarily due to the abandonment of assets classified as property, plant and equipment. The following table summarizes our non-recurring fair value measurements for the nine months ended September 30, 2012: | |||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||||||||||
Carrying | Markets for | Other | Significant | Total | |||||||||||||||||||||||||
Value at | Identical | Observable | Unobservable | Non-Cash | |||||||||||||||||||||||||
September 30, | Assets | Inputs | Inputs | Impairment | |||||||||||||||||||||||||
2012 | (Level 1) | (Level 2) | (Level 3) | Loss | |||||||||||||||||||||||||
Impairment of long-lived assets disposed of | $ | -- | $ | -- | $ | -- | $ | -- | $ | 50.7 | |||||||||||||||||||
other than by sale (1) | |||||||||||||||||||||||||||||
Impairment of long-lived assets held and used | 2.2 | -- | -- | 2.2 | 2.6 | ||||||||||||||||||||||||
Impairment of long-lived assets to be disposed | -- | -- | -- | -- | 4.3 | ||||||||||||||||||||||||
of by sale | |||||||||||||||||||||||||||||
Total | $ | 57.6 | |||||||||||||||||||||||||||
(1) Our non-cash asset impairment charges for the nine months ended September 30, 2012 primarily represent the abandonment of crude oil and natural gas pipeline segments in Texas and the Gulf of Mexico. | |||||||||||||||||||||||||||||
Other Fair Value Information | |||||||||||||||||||||||||||||
The carrying amounts of cash and cash equivalents (including restricted cash balances), accounts receivable, commercial paper notes and accounts payable approximate their fair values based on their short-term nature. The estimated total fair value of our fixed-rate debt obligations was $18.42 billion at September 30, 2013 and December 31, 2012. The aggregate carrying value of these debt obligations was $17.43 billion and $16.18 billion at September 30, 2013 and December 31, 2012, respectively. These values are based on quoted market prices for such debt or debt of similar terms and maturities (Level 2), our credit standing and the credit standing of our counterparties. Changes in market rates of interest affect the fair value of our fixed-rate debt. The carrying values of our variable-rate long-term debt obligations approximate their fair values since the associated interest rates are market-based. We do not have any long-term investments in debt or equity securities recorded at fair value. |
Inventories
Inventories | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Inventories [Abstract] | ' | ||||||||||||||||
Inventories | ' | ||||||||||||||||
Note 5. Inventories | |||||||||||||||||
Our available-for-sale inventory amounts by product type were as follows at the dates indicated: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
NGLs | $ | 1,085.80 | $ | 594.3 | |||||||||||||
Petrochemicals and refined products | 448.2 | 304.5 | |||||||||||||||
Crude oil | 254.8 | 119.4 | |||||||||||||||
Natural gas | 73.6 | 70.2 | |||||||||||||||
Total | $ | 1,862.40 | $ | 1,088.40 | |||||||||||||
In those instances where we take ownership of inventory volumes through percent-of-liquids contracts and similar arrangements (as opposed to outright purchases from third parties for cash), these volumes are valued at market-based prices during the month in which they are acquired. | |||||||||||||||||
Due to fluctuating commodity prices, we recognize lower of cost or market adjustments when the carrying value of our available-for-sale inventories exceeds their net realizable value. These non-cash charges are a component of cost of sales in the period they are recognized. To the extent our commodity hedging strategies address inventory-related price risks and are successful, these inventory valuation adjustments are mitigated or offset. See Note 4 for a description of our commodity hedging activities. | |||||||||||||||||
The following table presents our total cost of sales amounts and lower of cost or market adjustments for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of sales (1) | $ | 10,371.30 | $ | 8,794.00 | $ | 29,522.10 | $ | 26,655.00 | |||||||||
Lower of cost or market adjustments | 4.5 | 2.2 | 14.9 | 16.1 | |||||||||||||
(1) Cost of sales is a component of "Operating costs and expenses," as presented on our Unaudited Condensed Statements of Consolidated Operations. Period-to-period fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||||||||
Property, Plant and Equipment | ' | ||||||||||||||||||
Note 6. Property, Plant and Equipment | |||||||||||||||||||
The historical costs of our property, plant and equipment and related accumulated depreciation balances were as follows at the dates indicated: | |||||||||||||||||||
Estimated | September 30, | December 31, | |||||||||||||||||
Useful Life | 2013 | 2012 | |||||||||||||||||
in Years | |||||||||||||||||||
Plants, pipelines and facilities (1) | 3-45 (6) | $ | 26,878.40 | $ | 25,382.40 | ||||||||||||||
Underground and other storage facilities (2) | 5-40 (7) | 1,980.50 | 1,826.30 | ||||||||||||||||
Platforms and facilities (3) | 20-31 | 659.6 | 635.2 | ||||||||||||||||
Transportation equipment (4) | 10-Mar | 133.1 | 136.2 | ||||||||||||||||
Marine vessels (5) | 15-30 | 721.5 | 695 | ||||||||||||||||
Land | 176.1 | 167.2 | |||||||||||||||||
Construction in progress | 2,705.80 | 2,113.10 | |||||||||||||||||
Total | 33,255.00 | 30,955.40 | |||||||||||||||||
Less accumulated depreciation | 6,801.10 | 6,109.00 | |||||||||||||||||
Property, plant and equipment, net | $ | 26,453.90 | $ | 24,846.40 | |||||||||||||||
(1) Plants and pipelines include processing plants; NGL, natural gas, crude oil and petrochemical and refined products pipelines; terminal loading and unloading facilities; office furniture and equipment; buildings; laboratory and shop equipment and related assets. | |||||||||||||||||||
(2) Underground and other storage facilities include underground product storage caverns; above ground storage tanks; water wells and related assets. | |||||||||||||||||||
(3) Platforms and facilities include offshore platforms and related facilities and other associated assets located in the Gulf of Mexico. | |||||||||||||||||||
(4) Transportation equipment includes tractor-trailer tank trucks and other vehicles and similar assets used in our operations. | |||||||||||||||||||
(5) Marine vessels include tow boats, barges and related equipment used in our marine transportation business. | |||||||||||||||||||
(6) In general, the estimated useful lives of major assets within this category are: processing plants, 20-35 years; pipelines and related equipment, 5-45 years; terminal facilities, 10-35 years; office furniture and equipment, 3-20 years; buildings, 20-40 years; and laboratory and shop equipment, 5-35 years. | |||||||||||||||||||
(7) In general, the estimated useful lives of assets within this category are: underground storage facilities, 5-35 years; storage tanks, 10-40 years; and water wells, 5-35 years. | |||||||||||||||||||
The following table summarizes our depreciation expense and capitalized interest amounts for the periods indicated: | |||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Depreciation expense (1) | $ | 253.4 | $ | 228.3 | $ | 749.6 | $ | 662.3 | |||||||||||
Capitalized interest (2) | 27.8 | 26.3 | 95.1 | 86.4 | |||||||||||||||
(1) Depreciation expense is a component of "Costs and expenses" as presented on our Unaudited Condensed Statements of Consolidated Operations. | |||||||||||||||||||
(2) We capitalize interest costs incurred on funds used to construct property, plant and equipment while the asset is in its construction phase. The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset's estimated useful life as a component of depreciation expense. When capitalized interest is recorded, it reduces interest expense from what it would be otherwise. | |||||||||||||||||||
In March 2013, we sold the Stratton Ridge-to-Mont Belvieu segment of the Seminole Pipeline, along with a related storage cavern, for cash proceeds of $86.9 million. As a result, net income for the nine months ended September 30, 2013 includes a $52.5 million gain from the sale of these assets. The Seminole Pipeline remains connected to our Mont Belvieu complex through a newly constructed NGL pipeline that we own. See Note 16 for additional information regarding our asset sales. | |||||||||||||||||||
Asset Retirement Obligations | |||||||||||||||||||
Property, plant and equipment at September 30, 2013 and December 31, 2012 includes $39.3 million and $40.3 million, respectively, of asset retirement costs capitalized as an increase in the associated long-lived asset. | |||||||||||||||||||
The following table presents information regarding our asset retirement obligations ("AROs") during the nine months ended September 30, 2013: | |||||||||||||||||||
ARO liability balance, December 31, 2012 | $ | 105.2 | |||||||||||||||||
Liabilities incurred | 0.1 | ||||||||||||||||||
Liabilities settled | (10.4 | ) | |||||||||||||||||
Revisions in estimated cash flows | (2.2 | ) | |||||||||||||||||
Accretion expense | 4.6 | ||||||||||||||||||
ARO liability balance, September 30, 2013 | $ | 97.3 | |||||||||||||||||
The following table presents our forecast of accretion expense for the periods indicated: | |||||||||||||||||||
Remainder | 2014 | 2015 | 2016 | 2017 | |||||||||||||||
of 2013 | |||||||||||||||||||
$ | 1.5 | $ | 6.3 | $ | 6.7 | $ | 7.1 | $ | 7.7 | ||||||||||
Certain of our unconsolidated affiliates have AROs recorded at September 30, 2013 and December 31, 2012 relating to contractual agreements and regulatory requirements. These amounts are immaterial to our consolidated financial statements. |
Investments_in_Unconsolidated_
Investments in Unconsolidated Affiliates | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Investments in Unconsolidated Affiliates [Abstract] | ' | ||||||||||||||||
Investments in Unconsolidated Affiliates | ' | ||||||||||||||||
Note 7. Investments in Unconsolidated Affiliates | |||||||||||||||||
The following table presents our investments in unconsolidated affiliates by business segment at the dates indicated. Unless noted otherwise, we account for these investments using the equity method. | |||||||||||||||||
Ownership | September 30, | December 31, | |||||||||||||||
Interest at | 2013 | 2012 | |||||||||||||||
September 30, | |||||||||||||||||
2013 | |||||||||||||||||
NGL Pipelines & Services: | |||||||||||||||||
Venice Energy Service Company, L.L.C. | 13.10% | $ | 28.1 | $ | 29.6 | ||||||||||||
K/D/S Promix, L.L.C. | 50% | 44.4 | 46.9 | ||||||||||||||
Baton Rouge Fractionators LLC | 32.20% | 19.3 | 20.2 | ||||||||||||||
Skelly-Belvieu Pipeline Company, L.L.C. | 50% | 40.5 | 38.2 | ||||||||||||||
Texas Express Pipeline LLC (1) | 35% | 328.5 | 144.4 | ||||||||||||||
Texas Express Gathering LLC (1) | 45% | 34.6 | 20.9 | ||||||||||||||
Front Range Pipeline LLC | 33.30% | 111.8 | 24.4 | ||||||||||||||
Onshore Natural Gas Pipelines & Services: | |||||||||||||||||
White River Hub, LLC | 50% | 24.3 | 24.9 | ||||||||||||||
Onshore Crude Oil Pipelines & Services: | |||||||||||||||||
Seaway Crude Pipeline Company LLC | 50% | 677.2 | 341.4 | ||||||||||||||
Eagle Ford Pipeline LLC (2) | 50% | 212.4 | 152.4 | ||||||||||||||
Offshore Pipelines & Services: | |||||||||||||||||
Poseidon Oil Pipeline Company, L.L.C. ("Poseidon") | 36% | 43.4 | 47.3 | ||||||||||||||
Cameron Highway Oil Pipeline Company | 50% | 209.9 | 220 | ||||||||||||||
Deepwater Gateway, L.L.C. | 50% | 86.2 | 90 | ||||||||||||||
Neptune Pipeline Company, L.L.C. | 25.70% | 43.7 | 46.8 | ||||||||||||||
Southeast Keathley Canyon Pipeline Company L.L.C. | 50% | 157.2 | 74.9 | ||||||||||||||
Petrochemical & Refined Products Services: | |||||||||||||||||
Baton Rouge Propylene Concentrator, LLC | 30% | 7.8 | 8.5 | ||||||||||||||
Centennial Pipeline LLC ("Centennial") | 50% | 62.3 | 60.8 | ||||||||||||||
Other (3) | Various | 2.9 | 3 | ||||||||||||||
Total | $ | 2,134.50 | $ | 1,394.60 | |||||||||||||
(1) Planned principal operations commenced in November 2013. | |||||||||||||||||
(2) Planned principal operations commenced in July 2013. | |||||||||||||||||
(3) Other unconsolidated affiliates include a 50% interest in a propylene pipeline extending from Mont Belvieu, Texas to La Porte, Texas and a 25% interest in a company that provides logistics communications solutions between petroleum pipelines and their customers. | |||||||||||||||||
The following table presents our equity in income (loss) of unconsolidated affiliates by business segment for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
NGL Pipelines & Services | $ | 4.1 | $ | 3 | $ | 11.8 | $ | 12 | |||||||||
Onshore Natural Gas Pipelines & Services | 1 | 0.9 | 2.9 | 3.5 | |||||||||||||
Onshore Crude Oil Pipelines & Services | 34.3 | 16.5 | 101 | 20.6 | |||||||||||||
Offshore Pipelines & Services | 9.8 | 6.8 | 24.9 | 17.8 | |||||||||||||
Petrochemical & Refined Products Services | (5.2 | ) | (6.2 | ) | (14.5 | ) | (14.1 | ) | |||||||||
Other Investments | -- | -- | -- | 2.4 | |||||||||||||
Total | $ | 44 | $ | 21 | $ | 126.1 | $ | 42.2 | |||||||||
The following table presents our unamortized excess cost amounts by business segment at the dates indicated: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
NGL Pipelines & Services | $ | 28 | $ | 28.9 | |||||||||||||
Onshore Crude Oil Pipelines & Services | 18 | 18.5 | |||||||||||||||
Offshore Pipelines & Services | 12.6 | 13.6 | |||||||||||||||
Petrochemical & Refined Products Services | 2.6 | 2.7 | |||||||||||||||
Total | $ | 61.2 | $ | 63.7 | |||||||||||||
The following table presents our amortization of excess cost amounts by business segment for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
NGL Pipelines & Services | $ | 0.3 | $ | 0.2 | $ | 0.9 | $ | 0.7 | |||||||||
Onshore Crude Oil Pipelines & Services | 0.1 | 0.2 | 0.5 | 0.5 | |||||||||||||
Offshore Pipelines & Services | 0.3 | 0.3 | 1 | 0.9 | |||||||||||||
Petrochemical & Refined Products Services | 0.1 | -- | 0.1 | 0.1 | |||||||||||||
Other Investments | -- | -- | -- | 0.3 | |||||||||||||
Total | $ | 0.8 | $ | 0.7 | $ | 2.5 | $ | 2.5 | |||||||||
Liquidation of Investment in Energy Transfer Equity | |||||||||||||||||
The Other Investments segment included our noncontrolling ownership interest in Energy Transfer Equity, which was accounted for using the equity method until January 18, 2012. | |||||||||||||||||
At December 31, 2011, we owned 29,303,514 common units of Energy Transfer Equity representing 13.1% of its limited partner interests. On January 18, 2012, we sold 22,762,636 of these common units in a private transaction, which generated cash proceeds of $825.1 million and a gain on the sale of $27.5 million. As a result of the January 18, 2012 transaction, our ownership interest in Energy Transfer Equity was reduced below 3%, and we discontinued using the equity method to account for this investment and began accounting for it as an investment in available-for-sale equity securities. Following the January 18, 2012 transaction, we sold the remaining 6,540,878 Energy Transfer Equity common units through April 27, 2012, which generated cash proceeds of $270.2 million and gains on these sales totaling $41.3 million. The $68.8 million of aggregate gains on the 2012 sales are a component of "Other income" on our Unaudited Condensed Statements of Consolidated Operations. | |||||||||||||||||
All activities included in our former sixth reportable business segment, Other Investments, ceased on January 18, 2012, which was the date we discontinued using the equity method to account for our investment in Energy Transfer Equity. See Note 11 for additional information regarding our business segments. | |||||||||||||||||
Other | |||||||||||||||||
The credit agreements of Poseidon and Centennial restrict their ability to pay cash dividends if a default or event of default (as defined in each credit agreement) has occurred and is continuing at the time such payments are scheduled to be paid. These businesses were in compliance with the terms of their credit agreements at September 30, 2013. |
Intangible_Assets_and_Goodwill
Intangible Assets and Goodwill | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Intangible Assets and Goodwill [Abstract] | ' | ||||||||||||||||||||||||
Intangible Assets and Goodwill | ' | ||||||||||||||||||||||||
Note 8. Intangible Assets and Goodwill | |||||||||||||||||||||||||
The following table summarizes our intangible assets by business segment at the dates indicated: | |||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||
Gross | Accumulated | Carrying | Gross | Accumulated | Carrying | ||||||||||||||||||||
Value | Amortization | Value | Value | Amortization | Value | ||||||||||||||||||||
NGL Pipelines & Services: | |||||||||||||||||||||||||
Customer relationship intangibles | $ | 340.8 | $ | (161.3 | ) | $ | 179.5 | $ | 340.8 | $ | (147.6 | ) | $ | 193.2 | |||||||||||
Contract-based intangibles | 281.3 | (166.9 | ) | 114.4 | 284.6 | (157.2 | ) | 127.4 | |||||||||||||||||
Segment total | 622.1 | (328.2 | ) | 293.9 | 625.4 | (304.8 | ) | 320.6 | |||||||||||||||||
Onshore Natural Gas Pipelines & Services: | |||||||||||||||||||||||||
Customer relationship intangibles | 1,163.60 | (273.8 | ) | 889.8 | 1,163.60 | (250.0 | ) | 913.6 | |||||||||||||||||
Contract-based intangibles | 466.1 | (326.0 | ) | 140.1 | 466.1 | (311.8 | ) | 154.3 | |||||||||||||||||
Segment total | 1,629.70 | (599.8 | ) | 1,029.90 | 1,629.70 | (561.8 | ) | 1,067.90 | |||||||||||||||||
Onshore Crude Oil Pipelines & Services: | |||||||||||||||||||||||||
Customer relationship intangibles | 10.7 | (5.9 | ) | 4.8 | 10.7 | (4.9 | ) | 5.8 | |||||||||||||||||
Contract-based intangibles | 0.4 | (0.3 | ) | 0.1 | 0.4 | (0.3 | ) | 0.1 | |||||||||||||||||
Segment total | 11.1 | (6.2 | ) | 4.9 | 11.1 | (5.2 | ) | 5.9 | |||||||||||||||||
Offshore Pipelines & Services: | |||||||||||||||||||||||||
Customer relationship intangibles | 203.9 | (147.3 | ) | 56.6 | 203.9 | (138.5 | ) | 65.4 | |||||||||||||||||
Contract-based intangibles | 1.2 | (0.4 | ) | 0.8 | 1.2 | (0.4 | ) | 0.8 | |||||||||||||||||
Segment total | 205.1 | (147.7 | ) | 57.4 | 205.1 | (138.9 | ) | 66.2 | |||||||||||||||||
Petrochemical & Refined Products Services: | |||||||||||||||||||||||||
Customer relationship intangibles | 104.3 | (37.1 | ) | 67.2 | 104.3 | (33.4 | ) | 70.9 | |||||||||||||||||
Contract-based intangibles | 39.9 | (5.6 | ) | 34.3 | 41.2 | (5.9 | ) | 35.3 | |||||||||||||||||
Segment total | 144.2 | (42.7 | ) | 101.5 | 145.5 | (39.3 | ) | 106.2 | |||||||||||||||||
Total all segments | $ | 2,612.20 | $ | (1,124.6 | ) | $ | 1,487.60 | $ | 2,616.80 | $ | (1,050.0 | ) | $ | 1,566.80 | |||||||||||
The following table presents the amortization expense of our intangible assets by business segment for the periods indicated: | |||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
NGL Pipelines & Services | $ | 8.6 | $ | 10.1 | $ | 27.7 | $ | 29.9 | |||||||||||||||||
Onshore Natural Gas Pipelines & Services | 13.3 | 16.8 | 38 | 48.4 | |||||||||||||||||||||
Onshore Crude Oil Pipelines & Services | 0.3 | 0.2 | 1 | 0.5 | |||||||||||||||||||||
Offshore Pipelines & Services | 2.9 | 3.1 | 8.8 | 8.3 | |||||||||||||||||||||
Petrochemical & Refined Products Services | 1.5 | 2.1 | 4.7 | 8.8 | |||||||||||||||||||||
Total | $ | 26.6 | $ | 32.3 | $ | 80.2 | $ | 95.9 | |||||||||||||||||
The following table presents our forecast of amortization expense associated with existing intangible assets for the periods indicated: | |||||||||||||||||||||||||
Remainder | 2014 | 2015 | 2016 | 2017 | |||||||||||||||||||||
of 2013 | |||||||||||||||||||||||||
$ | 25.5 | $ | 96.3 | $ | 90.4 | $ | 92.1 | $ | 96.1 | ||||||||||||||||
Goodwill | |||||||||||||||||||||||||
Goodwill represents the excess of the purchase price of an acquired business over the amounts assigned to assets acquired and liabilities assumed in the transaction. The following table presents changes in the carrying amount of goodwill during the nine months ended September 30, 2013: | |||||||||||||||||||||||||
NGL | Onshore | Onshore | Offshore | Petrochemical | Consolidated | ||||||||||||||||||||
Pipelines | Natural Gas | Crude Oil | Pipelines | & Refined | Total | ||||||||||||||||||||
& Services | Pipelines | Pipelines | & Services | Products | |||||||||||||||||||||
& Services | & Services | Services | |||||||||||||||||||||||
Balance at December 31, 2012 (1) | $ | 341.2 | $ | 296.3 | $ | 311.2 | $ | 82.1 | $ | 1,056.00 | $ | 2,086.80 | |||||||||||||
Goodwill related to the sale of assets | -- | -- | (6.1 | ) | -- | (0.7 | ) | (6.8 | ) | ||||||||||||||||
Balance at September 30, 2013 (1) | $ | 341.2 | $ | 296.3 | $ | 305.1 | $ | 82.1 | $ | 1,055.30 | $ | 2,080.00 | |||||||||||||
(1) The total carrying amount of goodwill at September 30, 2013 and December 31, 2012 is net of $1.3 million of accumulated impairment charges. No goodwill impairment charges were recorded during the nine months ended September 30, 2013. |
Debt_Obligations
Debt Obligations | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Debt Obligations [Abstract] | ' | ||||||||||||||||||||||||||||
Debt Obligations | ' | ||||||||||||||||||||||||||||
Note 9. Debt Obligations | |||||||||||||||||||||||||||||
The following table presents our consolidated debt obligations (arranged by company and maturity date) at the dates indicated: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
EPO senior debt obligations: | |||||||||||||||||||||||||||||
Commercial Paper Notes, fixed-rates (1) | $ | 550 | $ | 346.6 | |||||||||||||||||||||||||
Senior Notes C, 6.375% fixed-rate, due February 2013 | -- | 350 | |||||||||||||||||||||||||||
Senior Notes T, 6.125% fixed-rate, due February 2013 | -- | 182.5 | |||||||||||||||||||||||||||
Senior Notes M, 5.65% fixed-rate, due April 2013 | -- | 400 | |||||||||||||||||||||||||||
Senior Notes U, 5.90% fixed-rate, due April 2013 | -- | 237.6 | |||||||||||||||||||||||||||
Senior Notes O, 9.75% fixed-rate, due January 2014 | 500 | 500 | |||||||||||||||||||||||||||
364-Day Credit Agreement, variable-rate, due June 2014 | -- | -- | |||||||||||||||||||||||||||
Senior Notes G, 5.60% fixed-rate, due October 2014 | 650 | 650 | |||||||||||||||||||||||||||
Senior Notes I, 5.00% fixed-rate, due March 2015 | 250 | 250 | |||||||||||||||||||||||||||
Senior Notes X, 3.70% fixed-rate, due June 2015 | 400 | 400 | |||||||||||||||||||||||||||
Senior Notes FF, 1.25% fixed-rate, due August 2015 | 650 | 650 | |||||||||||||||||||||||||||
Senior Notes AA, 3.20% fixed-rate, due February 2016 | 750 | 750 | |||||||||||||||||||||||||||
Senior Notes L, 6.30% fixed-rate, due September 2017 | 800 | 800 | |||||||||||||||||||||||||||
Senior Notes V, 6.65% fixed-rate, due April 2018 | 349.7 | 349.7 | |||||||||||||||||||||||||||
$3.5 Billion Multi-Year Revolving Credit Facility, variable-rate, due June 2018 | 100 | -- | |||||||||||||||||||||||||||
Senior Notes N, 6.50% fixed-rate, due January 2019 | 700 | 700 | |||||||||||||||||||||||||||
Senior Notes Q, 5.25% fixed-rate, due January 2020 | 500 | 500 | |||||||||||||||||||||||||||
Senior Notes Y, 5.20% fixed-rate, due September 2020 | 1,000.00 | 1,000.00 | |||||||||||||||||||||||||||
Senior Notes CC, 4.05% fixed-rate, due February 2022 | 650 | 650 | |||||||||||||||||||||||||||
Senior Notes HH, 3.35% fixed-rate, due March 2023 | 1,250.00 | -- | |||||||||||||||||||||||||||
Senior Notes D, 6.875% fixed-rate, due March 2033 | 500 | 500 | |||||||||||||||||||||||||||
Senior Notes H, 6.65% fixed-rate, due October 2034 | 350 | 350 | |||||||||||||||||||||||||||
Senior Notes J, 5.75% fixed-rate, due March 2035 | 250 | 250 | |||||||||||||||||||||||||||
Senior Notes W, 7.55% fixed-rate, due April 2038 | 399.6 | 399.6 | |||||||||||||||||||||||||||
Senior Notes R, 6.125% fixed-rate, due October 2039 | 600 | 600 | |||||||||||||||||||||||||||
Senior Notes Z, 6.45% fixed-rate, due September 2040 | 600 | 600 | |||||||||||||||||||||||||||
Senior Notes BB, 5.95% fixed-rate, due February 2041 | 750 | 750 | |||||||||||||||||||||||||||
Senior Notes DD, 5.70% fixed-rate, due February 2042 | 600 | 600 | |||||||||||||||||||||||||||
Senior Notes EE, 4.85% fixed-rate, due August 2042 | 750 | 750 | |||||||||||||||||||||||||||
Senior Notes GG, 4.45% fixed-rate, due February 2043 | 1,100.00 | 1,100.00 | |||||||||||||||||||||||||||
Senior Notes II, 4.85% fixed-rate, due March 2044 | 1,000.00 | -- | |||||||||||||||||||||||||||
TEPPCO senior debt obligations: | |||||||||||||||||||||||||||||
TEPPCO Senior Notes, 6.125% fixed-rate, due February 2013 | -- | 17.5 | |||||||||||||||||||||||||||
TEPPCO Senior Notes, 5.90% fixed-rate, due April 2013 | -- | 12.4 | |||||||||||||||||||||||||||
TEPPCO Senior Notes, 6.65% fixed-rate, due April 2018 | 0.3 | 0.3 | |||||||||||||||||||||||||||
TEPPCO Senior Notes, 7.55% fixed-rate, due April 2038 | 0.4 | 0.4 | |||||||||||||||||||||||||||
Total principal amount of senior debt obligations | 16,000.00 | 14,646.60 | |||||||||||||||||||||||||||
EPO Junior Subordinated Notes A, fixed/variable-rate, due August 2066 | 550 | 550 | |||||||||||||||||||||||||||
EPO Junior Subordinated Notes C, fixed/variable-rate, due June 2067 | 285.8 | 285.8 | |||||||||||||||||||||||||||
EPO Junior Subordinated Notes B, fixed/variable-rate, due January 2068 | 682.7 | 682.7 | |||||||||||||||||||||||||||
TEPPCO Junior Subordinated Notes, fixed/variable-rate, due June 2067 | 14.2 | 14.2 | |||||||||||||||||||||||||||
Total principal amount of senior and junior debt obligations | 17,532.70 | 16,179.30 | |||||||||||||||||||||||||||
Other, non-principal amounts: | |||||||||||||||||||||||||||||
Change in fair value of debt hedged in fair value hedging relationship (2) | 28.9 | 39.3 | |||||||||||||||||||||||||||
Unamortized discounts, net of premiums | (41.9 | ) | (38.0 | ) | |||||||||||||||||||||||||
Other | 11.8 | 21.2 | |||||||||||||||||||||||||||
Total other, non-principal amounts | (1.2 | ) | 22.5 | ||||||||||||||||||||||||||
Less current maturities of debt (3) | (1,049.9 | ) | (1,546.6 | ) | |||||||||||||||||||||||||
Total long-term debt | $ | 16,481.60 | $ | 14,655.20 | |||||||||||||||||||||||||
(1) Principal amounts outstanding at September 30, 2013 have fixed-rates ranging from 0.26% and 0.29% and are due in October 2013. | |||||||||||||||||||||||||||||
(2) See Note 4 for information regarding our interest rate hedging activities. | |||||||||||||||||||||||||||||
(3) We expect to refinance the current maturities of our debt obligations at or prior to their maturity. | |||||||||||||||||||||||||||||
Enterprise Products Partners L.P. acts as guarantor of the consolidated debt obligations of EPO with the exception of the remaining debt obligations of TEPPCO. If EPO were to default on any of its guaranteed debt, Enterprise Products Partners L.P. would be responsible for full and unconditional repayment of that obligation. | |||||||||||||||||||||||||||||
The following table presents contractually scheduled maturities of our consolidated debt obligations at September 30, 2013 for the periods indicated: | |||||||||||||||||||||||||||||
Scheduled Maturities of Debt | |||||||||||||||||||||||||||||
Total | Remainder | 2014 | 2015 | 2016 | 2017 | After | |||||||||||||||||||||||
of 2013 | 2017 | ||||||||||||||||||||||||||||
Commercial Paper Notes | $ | 550 | $ | 550 | $ | -- | $ | -- | $ | -- | $ | -- | $ | -- | |||||||||||||||
Multi-Year Revolving Credit Facility | 100 | -- | -- | -- | -- | -- | 100 | ||||||||||||||||||||||
Senior Notes | 15,350.00 | -- | 1,150.00 | 1,300.00 | 750 | 800 | 11,350.00 | ||||||||||||||||||||||
Junior Subordinated Notes | 1,532.70 | -- | -- | -- | -- | -- | 1,532.70 | ||||||||||||||||||||||
Total | $ | 17,532.70 | $ | 550 | $ | 1,150.00 | $ | 1,300.00 | $ | 750 | $ | 800 | $ | 12,982.70 | |||||||||||||||
Apart from those items discussed below and routine fluctuations in the balance of our multi-year revolving credit facility and commercial paper notes, there have been no significant changes in the terms or amounts of our consolidated debt obligations since those reported in our 2012 Form 10-K. | |||||||||||||||||||||||||||||
364-Day Credit Agreement | |||||||||||||||||||||||||||||
In June 2013, EPO entered into a 364-Day Revolving Credit Agreement with a group of lenders (the "364-Day Credit Agreement"). Under the terms of the 364-Day Credit Agreement, EPO may borrow up to $1.0 billion at a variable interest rate for a term of 364 days, subject to the terms and conditions set forth therein. | |||||||||||||||||||||||||||||
EPO's obligations under the 364-Day Credit Agreement are not secured by any collateral; however, they are guaranteed by Enterprise Products Partners L.P. Amounts borrowed under the 364-Day Credit Agreement mature on June 18, 2014, although EPO may, between 15 and 60 days prior to the maturity date, elect to have the entire principal balance then outstanding continued as non-revolving term loans for a period of one additional year, payable on June 18, 2015. | |||||||||||||||||||||||||||||
The 364-Day Credit Agreement contains customary representations, warranties, covenants (affirmative and negative) and events of default, the occurrence of which would permit the lenders to accelerate the maturity date of amounts borrowed under the 364-Day Credit Agreement. The 364-Day Credit Agreement also restricts EPO's ability to pay cash distributions to its parent, Enterprise Products Partners L.P., if a default or an event of default (as defined in the 364-Day Credit Agreement) has occurred and is continuing at the time such distribution is scheduled to be paid. | |||||||||||||||||||||||||||||
First Amendment to $3.5 Billion Multi-Year Revolving Credit Facility | |||||||||||||||||||||||||||||
In June 2013, EPO amended the terms of its $3.5 Billion Multi-Year Revolving Credit Facility to, among other things, extend the maturity date of commitments under the agreement from September 2016 to June 2018 and lower the applicable margin on borrowings. | |||||||||||||||||||||||||||||
Issuance of Senior Notes in March 2013 | |||||||||||||||||||||||||||||
In March 2013, EPO issued $1.25 billion principal amount of 3.35% senior notes due March 2023 ("Senior Notes HH") and $1.0 billion principal amount of 4.85% senior notes due March 2044 ("Senior Notes II"). Senior Notes HH were issued at 99.908% of their principal amount and Senior Notes II were issued at 99.619% of their principal amount. Net proceeds from the issuance of Senior Notes HH and II were used to repay debt, including (i) amounts outstanding under EPO's $3.5 Billion Multi-Year Revolving Credit Facility and EPO's commercial paper program (which we used to repay $550.0 million principal amount of senior notes that matured in February 2013) and (ii) $650.0 million principal amount of senior notes that matured in April 2013, and for general company purposes. | |||||||||||||||||||||||||||||
Enterprise Products Partners L.P. has unconditionally guaranteed Senior Notes HH and II on an unsecured and unsubordinated basis. These senior notes rank equal with EPO's existing and future unsecured and unsubordinated indebtedness and are senior to any existing and future subordinated indebtedness of EPO. These senior notes are subject to make-whole redemption rights and were issued under indentures containing certain covenants, which generally restrict EPO's ability (with certain exceptions) to incur debt secured by liens and engage in sale and leaseback transactions. | |||||||||||||||||||||||||||||
Letters of Credit | |||||||||||||||||||||||||||||
At September 30, 2013, EPO had $2.5 million of letters of credit outstanding related to operations at our facilities and motor fuel tax obligations. | |||||||||||||||||||||||||||||
Lender Financial Covenants | |||||||||||||||||||||||||||||
We were in compliance with the financial covenants of our consolidated debt agreements at September 30, 2013. | |||||||||||||||||||||||||||||
Information Regarding Variable Interest Rates Paid | |||||||||||||||||||||||||||||
The following table presents the range of interest rates and weighted-average interest rates paid on our consolidated variable-rate debt during the nine months ended September 30, 2013: | |||||||||||||||||||||||||||||
Range of | Weighted-Average | ||||||||||||||||||||||||||||
Interest Rates | Interest Rate | ||||||||||||||||||||||||||||
Paid | Paid | ||||||||||||||||||||||||||||
EPO $3.5 Billion Multi-Year Revolving Credit Facility | 1.15% to 1.51% | 1.31% |
Equity_and_Distributions
Equity and Distributions | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity and Distributions [Abstract] | ' | ||||||||||||
Equity and Distributions | ' | ||||||||||||
Note 10. Equity and Distributions | |||||||||||||
Partners' equity reflects the various classes of limited partner interests (i.e., common units, including restricted common units, and Class B units) that we have outstanding. The following table summarizes changes in the number of our common units outstanding during the nine months ended September 30, 2013: | |||||||||||||
Common | Restricted | Total | |||||||||||
Units | Common | Common | |||||||||||
(Unrestricted) | Units | Units | |||||||||||
Number of units outstanding at December 31, 2012 | 894,919,851 | 3,893,486 | 898,813,337 | ||||||||||
Common units issued in connection with underwritten offering | 9,200,000 | -- | 9,200,000 | ||||||||||
Common units issued in connection with our at-the-market program | 7,284,807 | -- | 7,284,807 | ||||||||||
Common units issued in connection with our DRIP and EUPP | 3,760,154 | -- | 3,760,154 | ||||||||||
Common units issued in connection with the vesting of unit options | 200,882 | -- | 200,882 | ||||||||||
Common units issued in connection with the vesting of restricted | 1,846,198 | (1,846,198 | ) | -- | |||||||||
common unit awards | |||||||||||||
Conversion and reclassification of Class B units to common units | 4,520,431 | -- | 4,520,431 | ||||||||||
Restricted common unit awards issued | -- | 1,769,076 | 1,769,076 | ||||||||||
Forfeiture of restricted common unit awards | -- | (159,832 | ) | (159,832 | ) | ||||||||
Acquisition and cancellation of treasury units in connection with the | (618,317 | ) | -- | (618,317 | ) | ||||||||
vesting of equity-based awards | |||||||||||||
Number of units outstanding at September 30, 2013 | 921,114,006 | 3,656,532 | 924,770,538 | ||||||||||
We may issue additional equity or debt securities to assist us in meeting our future liquidity and capital spending requirements. In June 2013, we filed with the SEC a new universal shelf registration statement (the "2013 Shelf") that replaced our prior universal shelf registration statement filed with the SEC in July 2010 (the "2010 Shelf"). The 2013 Shelf allows (and the prior 2010 Shelf allowed) Enterprise Products Partners L.P. and EPO (each on a standalone basis) to issue an unlimited amount of equity and debt securities, respectively. | |||||||||||||
In February 2013, we issued 9,200,000 common units to the public (including an over-allotment amount of 1,200,000 common units) at an offering price of $54.56 per unit. This underwritten offering, using the 2010 Shelf, generated net proceeds of $486.6 million. Also, EPO utilized the 2010 Shelf to issue $2.25 billion of senior notes in March 2013 (see Note 9). See Note 18 for information regarding a November 2013 public offering of our common units. | |||||||||||||
On October 1, 2013, we filed a registration statement with the SEC covering the issuance of up to $1.25 billion of our common units in amounts, at prices and on terms to be determined by market conditions and other factors at the time of such offerings. Pursuant to this "at-the-market" program, we may sell common units under an equity distribution agreement between Enterprise Products Partners L.P. and certain broker-dealers from time-to-time by means of ordinary brokers' transactions through the NYSE at market prices, in block transactions or as otherwise agreed to with the broker-dealer parties to the agreement. The new registration statement was declared effective on October 15, 2013 and replaced our prior registration statement with respect to the at-the-market program, which was filed with the SEC in March 2012 and covered the issuance of up to $1.0 billion of our common units. Immediately prior to the effectiveness of the new registration statement, we had the capacity to issue additional common units under the at-the-market program up to an aggregate sales price of $334.2 million (after giving effect to sales of common units previously made under the program). Following the effectiveness of the new registration statement, we now have the capacity to issue additional common units under our at-the-market program up to an aggregate sales price of $1.25 billion. | |||||||||||||
During the nine months ended September 30, 2013, we sold 7,624,689 common units under our at-the-market program for aggregate gross proceeds of $460.4 million. After taking into account applicable costs, these transactions resulted in net proceeds of $456.3 million, of which $435.5 million was received and 7,284,807 common units issued and outstanding as of September 30, 2013. The remaining 339,882 common units sold under the program during the nine months ended September 30, 2013 were issued in October 2013 upon closing of the sales of such common units and receipt of the $20.8 million balance of proceeds. After taking into account the aggregate sale price of common units sold under our at-the-market program through September 30, 2013 and the new registration statement that was declared effective on October 15, 2013, we have the capacity to issue additional common units under this program up to an aggregate sales price of $1.25 billion. | |||||||||||||
We also have registration statements on file with the SEC collectively authorizing the issuance of up to 70,000,000 of our common units in connection with a distribution reinvestment plan (or "DRIP"). The DRIP provides unitholders of record and beneficial owners of our common units a voluntary means by which they can increase the number of our common units they own by reinvesting the quarterly cash distributions they would otherwise receive from us into the purchase of additional new common units. During the nine months ended September 30, 2012, we issued 1,905,797 common units, which generated net proceeds of $93.6 million. We issued a total of 3,649,323 common units under our DRIP during the nine months ended September 30, 2013, which generated net proceeds of $206.0 million. After taking into account the number of common units issued under the DRIP through September 30, 2013, we have the capacity to issue an additional 19,843,969 common units under this plan. | |||||||||||||
In January 2013, affiliates of privately held EPCO, which own our general partner and approximately 36.8% of our limited partner interests at September 30, 2013, expressed their willingness to purchase at least $100 million of our common units during 2013 through our DRIP. During the nine months ended September 30, 2013, these EPCO affiliates reinvested $75.0 million, resulting in the issuance of 1,331,774 common units under our DRIP (this amount being a component of the total common units issued under the DRIP during the nine months ended September 30, 2013). On November 7, 2013, these affiliates reinvested an additional $25.0 million under the DRIP, which increased their total investment for 2013 to $100.0 million. | |||||||||||||
In addition to the DRIP, we have registration statements on file with the SEC authorizing the issuance of our common units in connection with an employee unit purchase plan (or "EUPP"). In September 2013, our unitholders approved the amendment and restatement of the EUPP. As a result, the maximum number of common units issuable under the EUPP increased from 440,879 common units to 4,000,000 common units. In addition, the term of the EUPP was extended to September 2023. During the nine months ended September 30, 2012, we issued 102,469 common units, which generated net proceeds of $5.4 million. We issued 110,831 common units under our EUPP during the nine months ended September 30, 2013, which generated net proceeds of $6.6 million. After taking into account the number of common units issued under the EUPP through September 30, 2013, we may issue an additional 3,744,326 common units under the amended and restated EUPP. | |||||||||||||
The net cash proceeds we received from the issuance of common units during the nine months ended September 30, 2013 were used to temporarily reduce amounts outstanding under EPO's Multi-Year Revolving Credit Facility and commercial paper program and for general company purposes. | |||||||||||||
A total of 1,846,198 restricted common unit awards granted to employees of EPCO vested and converted to common units during the nine months ended September 30, 2013. Of this amount, 618,317 were sold back to us by employees to cover related withholding tax requirements. The total cost of these treasury unit purchases was approximately $36.1 million. We cancelled such treasury units immediately upon acquisition. See Note 3 for additional information regarding our equity-based awards. | |||||||||||||
Class B units. In October 2009, we issued 4,520,431 Class B units to a privately held affiliate of EPCO in connection with the TEPPCO Merger. The Class B units were entitled to vote together with our common units as a single class on partnership matters and generally had the same rights and privileges as our common units, except that the Class B units were not entitled to receive regular quarterly cash distributions until they automatically converted into an equal number of common units on August 8, 2013. | |||||||||||||
Accumulated Other Comprehensive Loss | |||||||||||||
Accumulated other comprehensive loss primarily reflects the effective portion of any gains or losses on derivative instruments designated and qualified as cash flow hedges. Amounts related to cash flow hedges recorded in accumulated other comprehensive loss are reclassified to earnings in the same period(s) in which the underlying hedged forecasted transactions affect earnings. If it becomes probable that a forecasted transaction will not occur, the related net loss in accumulated other comprehensive loss is immediately reclassified into earnings. | |||||||||||||
The following table presents reclassifications out of accumulated other comprehensive loss into net income during the periods indicated: | |||||||||||||
For the Three | For the Nine | ||||||||||||
Location | Months Ended | Months Ended | |||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2013 | ||||||||||||
Losses (gains) on cash flow hedges: | |||||||||||||
Interest rate derivatives | Interest expense | $ | 7.7 | $ | 21.4 | ||||||||
Commodity derivatives | Revenue | 14.6 | 15.1 | ||||||||||
Commodity derivatives | Operating costs and expenses | -- | (0.4 | ) | |||||||||
Total | $ | 22.3 | $ | 36.1 | |||||||||
Noncontrolling Interests | |||||||||||||
Noncontrolling interests as presented on our Unaudited Condensed Consolidated Financial Statements represent third party ownership interests in joint ventures that we consolidate for financial reporting purposes, including Tri-States NGL Pipeline L.L.C., Independence Hub LLC, Rio Grande Pipeline Company, Wilprise Pipeline Company LLC and Enterprise EF78 LLC. | |||||||||||||
In June 2013, we formed a joint venture, Enterprise EF78 LLC, with Western Gas Partners, LP ("Western Gas") involving two NGL fractionators at our complex in Mont Belvieu, Texas. We own 75% of the joint venture's membership interests and consolidate the joint venture. Western Gas acquired a 25% noncontrolling interest in the joint venture for an initial contribution of $90.2 million, which is reflected as a contribution from noncontrolling interests on our Unaudited Statements of Consolidated Cash Flows. | |||||||||||||
Cash Distributions | |||||||||||||
The following table presents our declared quarterly cash distribution rates per common unit with respect to the quarters indicated: | |||||||||||||
Distribution Per | Record | Payment | |||||||||||
Common Unit | Date | Date | |||||||||||
2013 | |||||||||||||
1st Quarter | $ | 0.67 | 4/30/13 | 5/7/13 | |||||||||
2nd Quarter | $ | 0.68 | 7/31/13 | 8/7/13 | |||||||||
3rd Quarter | $ | 0.69 | 10/31/13 | 11/7/13 | |||||||||
In November 2010, we completed our merger with Enterprise GP Holdings L.P. (the "Holdings Merger"). In connection with the Holdings Merger, a privately held affiliate of EPCO agreed to temporarily waive the regular quarterly cash distributions it would otherwise receive from us with respect to a certain number of our common units it owns (the "Designated Units"). Distributions paid during 2013 exclude 23,700,000 Designated Units. Distributions to be paid, if any, during 2014 and 2015 will exclude 22,560,000 Designated Units and 17,690,000 Designated Units, respectively. | |||||||||||||
As previously noted, 4,520,431 Class B units automatically converted into an equal number of distribution-bearing common units on August 8, 2013. |
Business_Segments
Business Segments | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Business Segments [Abstract] | ' | ||||||||||||||||||||||||||||||||
Business Segments | ' | ||||||||||||||||||||||||||||||||
Note 11. Business Segments | |||||||||||||||||||||||||||||||||
We have five reportable business segments: (i) NGL Pipelines & Services; (ii) Onshore Natural Gas Pipelines & Services; (iii) Onshore Crude Oil Pipelines & Services; (iv) Offshore Pipelines & Services; and (v) Petrochemical & Refined Products Services. Our business segments are generally organized and managed according to the types of services rendered (or technologies employed) and products produced and/or sold. | |||||||||||||||||||||||||||||||||
All activities included in our former sixth reportable business segment, Other Investments, ceased on January 18, 2012, which was the date we discontinued using the equity method to account for our previously held investment in Energy Transfer Equity. See Note 7 for information regarding the liquidation of our investment in Energy Transfer Equity. | |||||||||||||||||||||||||||||||||
We evaluate segment performance based on the non-GAAP financial measure of gross operating margin. Gross operating margin (either in total or by individual segment) is an important performance measure of the core profitability of our operations. This measure forms the basis of our internal financial reporting and is used by our management in deciding how to allocate capital resources among business segments. We believe that investors benefit from having access to the same financial measures that our management uses in evaluating segment results. The GAAP financial measure most directly comparable to total segment gross operating margin is operating income. Our non-GAAP financial measure of total segment gross operating margin should not be considered an alternative to GAAP operating income. | |||||||||||||||||||||||||||||||||
We define total segment gross operating margin as operating income before: (i) depreciation, amortization and accretion expenses; (ii) non-cash asset impairment charges; (iii) gains and losses attributable to asset sales and insurance recoveries; and (iv) general and administrative costs. Gross operating margin by segment is calculated by subtracting segment operating costs and expenses (net of the adjustments noted above) from segment revenues, with both segment totals before the elimination of intercompany transactions. In accordance with GAAP, intercompany accounts and transactions are eliminated in the preparation of our consolidated financial statements. Gross operating margin is exclusive of other income and expense transactions, income taxes, the cumulative effect of changes in accounting principles and extraordinary charges. Gross operating margin is presented on a 100% basis before any allocation of earnings to noncontrolling interests. | |||||||||||||||||||||||||||||||||
We include equity in income of unconsolidated affiliates in our measurement of segment gross operating margin and operating income. Equity investments with industry partners are a significant component of our business strategy. They are a means by which we conduct our operations to align our interests with those of customers and/or suppliers. This method of operation enables us to achieve favorable economies of scale relative to the level of investment and business risk assumed. Many of these businesses perform supporting or complementary roles to our other midstream business operations. | |||||||||||||||||||||||||||||||||
Segment revenues include intersegment and intrasegment transactions, which are generally based on transactions made at market-based rates. Our consolidated revenues reflect the elimination of intercompany transactions. | |||||||||||||||||||||||||||||||||
Segment assets consist of property, plant and equipment, investments in unconsolidated affiliates, intangible assets and goodwill. The carrying values of such amounts are assigned to each segment based on each asset's or investment's principal operations and contribution to the gross operating margin of that particular segment. Since construction-in-progress amounts (a component of property, plant and equipment) generally do not contribute to segment gross operating margin, such amounts are excluded from segment asset totals until the underlying assets are placed in service. Intangible assets and goodwill are assigned to each segment based on the classification of the assets to which they relate. | |||||||||||||||||||||||||||||||||
The following table presents our measurement of total segment gross operating margin for the periods indicated: | |||||||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Revenues | $ | 12,093.30 | $ | 10,468.70 | $ | 34,625.70 | $ | 31,511.00 | |||||||||||||||||||||||||
Less: Operating costs and expenses | (11,273.5 | ) | (9,659.8 | ) | (32,061.1 | ) | (29,136.5 | ) | |||||||||||||||||||||||||
Add: Equity in income of unconsolidated affiliates | 44 | 21 | 126.1 | 42.2 | |||||||||||||||||||||||||||||
Amounts included in operating costs and expenses: | |||||||||||||||||||||||||||||||||
Depreciation, amortization and accretion | 285.2 | 269.2 | 851.7 | 785.1 | |||||||||||||||||||||||||||||
Non-cash asset impairment charges | 15.2 | 43.1 | 53.3 | 57.6 | |||||||||||||||||||||||||||||
Gains attributable to asset sales and insurance recoveries | (10.2 | ) | (2.6 | ) | (68.4 | ) | (34.1 | ) | |||||||||||||||||||||||||
Total segment gross operating margin | $ | 1,154.00 | $ | 1,139.60 | $ | 3,527.30 | $ | 3,225.30 | |||||||||||||||||||||||||
The following table presents a reconciliation of total segment gross operating margin to operating income and further to income before income taxes for the periods indicated: | |||||||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Total segment gross operating margin | $ | 1,154.00 | $ | 1,139.60 | $ | 3,527.30 | $ | 3,225.30 | |||||||||||||||||||||||||
Adjustments to reconcile total segment gross operating margin to operating income: | |||||||||||||||||||||||||||||||||
Amounts included in operating costs and expenses: | |||||||||||||||||||||||||||||||||
Depreciation, amortization and accretion | (285.2 | ) | (269.2 | ) | (851.7 | ) | (785.1 | ) | |||||||||||||||||||||||||
Non-cash asset impairment charges | (15.2 | ) | (43.1 | ) | (53.3 | ) | (57.6 | ) | |||||||||||||||||||||||||
Gains attributable to asset sales and insurance recoveries | 10.2 | 2.6 | 68.4 | 34.1 | |||||||||||||||||||||||||||||
General and administrative costs | (43.9 | ) | (41.4 | ) | (138.9 | ) | (130.2 | ) | |||||||||||||||||||||||||
Operating income | 819.9 | 788.5 | 2,551.80 | 2,286.50 | |||||||||||||||||||||||||||||
Other expense, net | (207.7 | ) | (198.2 | ) | (604.2 | ) | (499.4 | ) | |||||||||||||||||||||||||
Income before income taxes | $ | 612.2 | $ | 590.3 | $ | 1,947.60 | $ | 1,787.10 | |||||||||||||||||||||||||
Information by business segment, together with reconciliations to our consolidated financial statement totals, is presented in the following table: | |||||||||||||||||||||||||||||||||
Reportable Business Segments | |||||||||||||||||||||||||||||||||
NGL | Onshore | Onshore | Offshore | Petrochemical | Other | Adjustments | Consolidated | ||||||||||||||||||||||||||
Pipelines | Natural Gas | Crude Oil | Pipelines | & Refined | Investments | and | Total | ||||||||||||||||||||||||||
& Services | Pipelines | Pipelines | & Services | Products | Eliminations | ||||||||||||||||||||||||||||
& Services | & Services | Services | |||||||||||||||||||||||||||||||
Revenues from third parties: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | $ | 4,230.60 | $ | 831.4 | $ | 5,435.40 | $ | 38.2 | $ | 1,550.00 | $ | -- | $ | -- | $ | 12,085.60 | |||||||||||||||||
Three months ended September 30, 2012 | 3,389.60 | 843.3 | 4,505.10 | 43.2 | 1,680.00 | -- | -- | 10,461.20 | |||||||||||||||||||||||||
Nine months ended September 30, 2013 | 11,686.00 | 2,658.60 | 15,358.10 | 118 | 4,784.70 | -- | -- | 34,605.40 | |||||||||||||||||||||||||
Nine months ended September 30, 2012 | 11,071.60 | 2,349.10 | 13,167.40 | 145.1 | 4,713.90 | -- | -- | 31,447.10 | |||||||||||||||||||||||||
Revenues from related parties: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 0.1 | 4.1 | 2.1 | 1.4 | -- | -- | -- | 7.7 | |||||||||||||||||||||||||
Three months ended September 30, 2012 | 2.2 | 3.2 | 0.1 | 2 | -- | -- | -- | 7.5 | |||||||||||||||||||||||||
Nine months ended September 30, 2013 | 0.6 | 12.1 | 2.1 | 5.5 | -- | -- | -- | 20.3 | |||||||||||||||||||||||||
Nine months ended September 30, 2012 | 7.2 | 51.4 | 0.1 | 5.2 | -- | -- | -- | 63.9 | |||||||||||||||||||||||||
Intersegment and intrasegment | |||||||||||||||||||||||||||||||||
revenues: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 2,542.30 | 215.6 | 3,591.30 | 1.8 | 384.4 | -- | (6,735.4 | ) | -- | ||||||||||||||||||||||||
Three months ended September 30, 2012 | 2,301.60 | 211.4 | 1,509.20 | -- | 478.8 | -- | (4,501.0 | ) | -- | ||||||||||||||||||||||||
Nine months ended September 30, 2013 | 7,631.70 | 726.7 | 8,333.00 | 8 | 1,200.70 | -- | (17,900.1 | ) | -- | ||||||||||||||||||||||||
Nine months ended September 30, 2012 | 7,396.30 | 614.1 | 4,975.60 | 5 | 1,357.40 | -- | (14,348.4 | ) | -- | ||||||||||||||||||||||||
Total revenues: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 6,773.00 | 1,051.10 | 9,028.80 | 41.4 | 1,934.40 | -- | (6,735.4 | ) | 12,093.30 | ||||||||||||||||||||||||
Three months ended September 30, 2012 | 5,693.40 | 1,057.90 | 6,014.40 | 45.2 | 2,158.80 | -- | (4,501.0 | ) | 10,468.70 | ||||||||||||||||||||||||
Nine months ended September 30, 2013 | 19,318.30 | 3,397.40 | 23,693.20 | 131.5 | 5,985.40 | -- | (17,900.1 | ) | 34,625.70 | ||||||||||||||||||||||||
Nine months ended September 30, 2012 | 18,475.10 | 3,014.60 | 18,143.10 | 155.3 | 6,071.30 | -- | (14,348.4 | ) | 31,511.00 | ||||||||||||||||||||||||
Equity in income (loss) of unconsolidated affiliates: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 4.1 | 1 | 34.3 | 9.8 | (5.2 | ) | -- | -- | 44 | ||||||||||||||||||||||||
Three months ended September 30, 2012 | 3 | 0.9 | 16.5 | 6.8 | (6.2 | ) | -- | -- | 21 | ||||||||||||||||||||||||
Nine months ended September 30, 2013 | 11.8 | 2.9 | 101 | 24.9 | (14.5 | ) | -- | -- | 126.1 | ||||||||||||||||||||||||
Nine months ended September 30, 2012 | 12 | 3.5 | 20.6 | 17.8 | (14.1 | ) | 2.4 | -- | 42.2 | ||||||||||||||||||||||||
Gross operating margin: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 639.6 | 213.4 | 146 | 37.9 | 117.1 | -- | -- | 1,154.00 | |||||||||||||||||||||||||
Three months ended September 30, 2012 | 615.8 | 183.5 | 117.6 | 40.6 | 182.1 | -- | -- | 1,139.60 | |||||||||||||||||||||||||
Nine months ended September 30, 2013 | 1,777.00 | 601.9 | 579.6 | 118.1 | 450.7 | -- | -- | 3,527.30 | |||||||||||||||||||||||||
Nine months ended September 30, 2012 | 1,836.50 | 565.5 | 252.7 | 131 | 437.2 | 2.4 | -- | 3,225.30 | |||||||||||||||||||||||||
Property, plant and equipment, net: (see Note 6) | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 9,529.00 | 8,892.50 | 1,455.00 | 1,244.50 | 2,627.10 | -- | 2,705.80 | 26,453.90 | |||||||||||||||||||||||||
At December 31, 2012 | 8,494.80 | 8,950.10 | 1,385.90 | 1,343.00 | 2,559.50 | -- | 2,113.10 | 24,846.40 | |||||||||||||||||||||||||
Investments in unconsolidated affiliates: (see Note 7) | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 607.2 | 24.3 | 889.6 | 540.4 | 73 | -- | -- | 2,134.50 | |||||||||||||||||||||||||
At December 31, 2012 | 324.6 | 24.9 | 493.8 | 479 | 72.3 | -- | -- | 1,394.60 | |||||||||||||||||||||||||
Intangible assets, net: (see Note 8) | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 293.9 | 1,029.90 | 4.9 | 57.4 | 101.5 | -- | -- | 1,487.60 | |||||||||||||||||||||||||
At December 31, 2012 | 320.6 | 1,067.90 | 5.9 | 66.2 | 106.2 | -- | -- | 1,566.80 | |||||||||||||||||||||||||
Goodwill: (see Note 8) | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 341.2 | 296.3 | 305.1 | 82.1 | 1,055.30 | -- | -- | 2,080.00 | |||||||||||||||||||||||||
At December 31, 2012 | 341.2 | 296.3 | 311.2 | 82.1 | 1,056.00 | -- | -- | 2,086.80 | |||||||||||||||||||||||||
Segment assets: | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 10,771.30 | 10,243.00 | 2,654.60 | 1,924.40 | 3,856.90 | -- | 2,705.80 | 32,156.00 | |||||||||||||||||||||||||
At December 31, 2012 | 9,481.20 | 10,339.20 | 2,196.80 | 1,970.30 | 3,794.00 | -- | 2,113.10 | 29,894.60 | |||||||||||||||||||||||||
The following table presents additional information regarding our consolidated revenues and costs and expenses for the periods indicated: | |||||||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
NGL Pipelines & Services: | |||||||||||||||||||||||||||||||||
Sales of NGLs and related products | $ | 3,929.80 | $ | 3,151.90 | $ | 10,831.30 | $ | 10,401.10 | |||||||||||||||||||||||||
Midstream asset services | 300.9 | 239.9 | 855.3 | 677.7 | |||||||||||||||||||||||||||||
Total | 4,230.70 | 3,391.80 | 11,686.60 | 11,078.80 | |||||||||||||||||||||||||||||
Onshore Natural Gas Pipelines & Services: | |||||||||||||||||||||||||||||||||
Sales of natural gas | 590.7 | 608.2 | 1,954.10 | 1,691.60 | |||||||||||||||||||||||||||||
Midstream asset services | 244.8 | 238.3 | 716.6 | 708.9 | |||||||||||||||||||||||||||||
Total | 835.5 | 846.5 | 2,670.70 | 2,400.50 | |||||||||||||||||||||||||||||
Onshore Crude Oil Pipelines & Services: | |||||||||||||||||||||||||||||||||
Sales of crude oil | 5,359.70 | 4,471.80 | 15,159.90 | 13,093.40 | |||||||||||||||||||||||||||||
Midstream asset services | 77.8 | 33.4 | 200.3 | 74.1 | |||||||||||||||||||||||||||||
Total | 5,437.50 | 4,505.20 | 15,360.20 | 13,167.50 | |||||||||||||||||||||||||||||
Offshore Pipelines & Services: | |||||||||||||||||||||||||||||||||
Sales of natural gas | 0.1 | 0.2 | 0.3 | 0.3 | |||||||||||||||||||||||||||||
Sales of crude oil | 1.5 | 3.1 | 3.7 | 4.5 | |||||||||||||||||||||||||||||
Midstream asset services | 38 | 41.9 | 119.5 | 145.5 | |||||||||||||||||||||||||||||
Total | 39.6 | 45.2 | 123.5 | 150.3 | |||||||||||||||||||||||||||||
Petrochemical & Refined Products Services: | |||||||||||||||||||||||||||||||||
Sales of petrochemicals and refined products | 1,390.10 | 1,498.90 | 4,271.50 | 4,166.90 | |||||||||||||||||||||||||||||
Midstream asset services | 159.9 | 181.1 | 513.2 | 547 | |||||||||||||||||||||||||||||
Total | 1,550.00 | 1,680.00 | 4,784.70 | 4,713.90 | |||||||||||||||||||||||||||||
Total consolidated revenues | $ | 12,093.30 | $ | 10,468.70 | $ | 34,625.70 | $ | 31,511.00 | |||||||||||||||||||||||||
Consolidated costs and expenses | |||||||||||||||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||||||
Cost of sales | $ | 10,371.30 | $ | 8,794.00 | $ | 29,522.10 | $ | 26,655.00 | |||||||||||||||||||||||||
Other operating costs and expenses (1) | 612 | 556.1 | 1,702.40 | 1,672.90 | |||||||||||||||||||||||||||||
Depreciation, amortization and accretion | 285.2 | 269.2 | 851.7 | 785.1 | |||||||||||||||||||||||||||||
Gains attributable to asset sales and | (10.2 | ) | (2.6 | ) | (68.4 | ) | (34.1 | ) | |||||||||||||||||||||||||
insurance recoveries | |||||||||||||||||||||||||||||||||
Non-cash asset impairment charges | 15.2 | 43.1 | 53.3 | 57.6 | |||||||||||||||||||||||||||||
General and administrative costs | 43.9 | 41.4 | 138.9 | 130.2 | |||||||||||||||||||||||||||||
Total consolidated costs and expenses | $ | 11,317.40 | $ | 9,701.20 | $ | 32,200.00 | $ | 29,266.70 | |||||||||||||||||||||||||
(1) Represents cost of operating our plants, pipelines and other fixed assets, excluding depreciation, amortization and accretion charges. | |||||||||||||||||||||||||||||||||
Period-to-period fluctuations in our product sales revenues and related cost of sales amounts are explained in part by changes in energy commodity prices. In general, lower energy commodity prices result in a decrease in our revenues attributable to product sales; however, these lower commodity prices also decrease the associated cost of sales as purchase costs decline. The same correlation would be true in the case of higher energy commodity sales prices and purchase costs. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||||||
Related Party Transactions | ' | ||||||||||||||||
Note 12. Related Party Transactions | |||||||||||||||||
The following table summarizes our related party transactions for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenues – related parties: | |||||||||||||||||
Unconsolidated affiliates | $ | 7.7 | $ | 7.5 | $ | 20.3 | $ | 63.9 | |||||||||
Costs and expenses – related parties: | |||||||||||||||||
EPCO and affiliates | $ | 218.8 | $ | 210.8 | $ | 654.4 | $ | 616.9 | |||||||||
Unconsolidated affiliates | 25.9 | 15 | 86.5 | 27.3 | |||||||||||||
Total | $ | 244.7 | $ | 225.8 | $ | 740.9 | $ | 644.2 | |||||||||
The following table summarizes our related party accounts receivable and accounts payable balances at the dates indicated: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Accounts receivable – related parties: | |||||||||||||||||
Unconsolidated affiliates | $ | 12.8 | $ | 2.5 | |||||||||||||
Accounts payable – related parties: | |||||||||||||||||
EPCO and affiliates | $ | 86.2 | $ | 102.4 | |||||||||||||
Unconsolidated affiliates | 10.3 | 24.7 | |||||||||||||||
Total | $ | 96.5 | $ | 127.1 | |||||||||||||
We believe that the terms and provisions of our related party agreements are fair to us; however, such agreements and transactions may not be as favorable to us as we could have obtained from unaffiliated third parties. | |||||||||||||||||
Relationship with EPCO and Affiliates | |||||||||||||||||
We have an extensive and ongoing relationship with EPCO and its privately held affiliates (including Enterprise GP, our general partner), which are not a part of our consolidated group of companies. At September 30, 2013, EPCO and its privately held affiliates (including Dan Duncan LLC and certain Duncan family trusts, the beneficiaries of which include the estate of Dan L. Duncan) beneficially owned the following limited partner interests in us: | |||||||||||||||||
Number of Units | Percentage of | ||||||||||||||||
Beneficially Owned | Total Units | ||||||||||||||||
Outstanding | |||||||||||||||||
340,462,655 | 36.80% | ||||||||||||||||
We and Enterprise GP are both separate legal entities apart from each other and apart from EPCO and its other affiliates, with assets and liabilities that are also separate from those of EPCO and its other affiliates. EPCO and its privately held affiliates depend on the cash distributions they receive from us and other investments to fund their other activities and to meet their debt obligations. During the nine months ended September 30, 2013 and 2012, we paid EPCO and its privately held affiliates cash distributions totaling $601.2 million and $557.7 million, respectively. | |||||||||||||||||
From time-to-time, EPCO and its privately held affiliates elect to reinvest a portion of the cash distributions they would otherwise receive from us into the purchase of additional common units under our DRIP. See Note 10 for additional information regarding these reinvestments, including an expected reinvestment of up to $100 million in the aggregate during 2013. | |||||||||||||||||
We have no employees. All of our operating functions and general and administrative support services are provided by employees of EPCO pursuant to the ASA or by other service providers. | |||||||||||||||||
The following table presents our costs and expenses attributable to the ASA and other related party transactions with EPCO for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Operating costs and expenses | $ | 190.5 | $ | 185.3 | $ | 564.7 | $ | 541.6 | |||||||||
General and administrative expenses | 28.3 | 25.5 | 89.7 | 75.3 | |||||||||||||
Total costs and expenses | $ | 218.8 | $ | 210.8 | $ | 654.4 | $ | 616.9 |
Earnings_Per_Unit
Earnings Per Unit | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Unit [Abstract] | ' | ||||||||||||||||
Earnings Per Unit | ' | ||||||||||||||||
Note 13. Earnings Per Unit | |||||||||||||||||
Basic earnings per unit is computed by dividing net income or loss attributable to our limited partners by the weighted-average number of our distribution-bearing units outstanding during a period, which excludes the Designated Units (see Note 10) to the extent such units do not participate in the distributions to be paid with respect to such period. | |||||||||||||||||
Diluted earnings per unit is computed by dividing net income or loss attributable to our limited partners by the sum of (i) the weighted-average number of our distribution-bearing units outstanding during a period (as used in determining basic earnings per unit), (ii) the weighted-average number of our Class B units outstanding during a period, (iii) the weighted-average number of Designated Units outstanding during a period and (iv) the number of incremental common units resulting from the assumed exercise of dilutive unit options outstanding during a period (the "incremental option units"). | |||||||||||||||||
The following table presents our calculation of basic and diluted earnings per unit for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30 | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
BASIC EARNINGS PER UNIT | |||||||||||||||||
Numerator: | |||||||||||||||||
Net income attributable to limited partners | $ | 592 | $ | 586.8 | $ | 1,898.00 | $ | 1,804.40 | |||||||||
Denominator: | |||||||||||||||||
Weighted-average number of distribution-bearing | 896.3 | 859.3 | 889.1 | 857.9 | |||||||||||||
common units outstanding | |||||||||||||||||
Basic earnings per unit: | |||||||||||||||||
Net income attributable to limited partners | $ | 0.66 | $ | 0.68 | $ | 2.13 | $ | 2.1 | |||||||||
DILUTED EARNINGS PER UNIT | |||||||||||||||||
Numerator: | |||||||||||||||||
Net income attributable to limited partners | $ | 592 | $ | 586.8 | $ | 1,898.00 | $ | 1,804.40 | |||||||||
Denominator: | |||||||||||||||||
Weighted-average number of units outstanding: | |||||||||||||||||
Distribution-bearing common units | 896.3 | 859.3 | 889.1 | 857.9 | |||||||||||||
Class B units | 1.9 | 4.5 | 3.6 | 4.5 | |||||||||||||
Designated Units | 23.7 | 26.1 | 23.7 | 26.1 | |||||||||||||
Incremental option units | 1.1 | 1.5 | 1.2 | 1.5 | |||||||||||||
Total | 923 | 891.4 | 917.6 | 890 | |||||||||||||
Diluted earnings per unit: | |||||||||||||||||
Net income attributable to limited partners | $ | 0.64 | $ | 0.66 | $ | 2.07 | $ | 2.03 |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies [Abstract] | ' |
Commitments and Contingencies | ' |
Note 14. Commitments and Contingencies | |
As part of our normal business activities, we may be named as defendants in legal proceedings, including those arising from regulatory and environmental matters. Although we are insured against various risks to the extent we believe it is prudent, there is no assurance that the nature and amount of such insurance will be adequate, in every case, to fully indemnify us against losses arising from future legal proceedings. We will vigorously defend the partnership in litigation matters. | |
Management has regular quarterly litigation reviews, including updates from legal counsel, to assess the possible need for accounting recognition and disclosure of these contingencies. We accrue an undiscounted liability for those contingencies where the loss is probable and the amount can be reasonably estimated. If a range of probable loss amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum amount in the range is accrued. | |
We do not record a contingent liability when the likelihood of loss is probable but the amount cannot be reasonably estimated or when the likelihood of loss is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is reasonably possible and the impact would be material to our consolidated financial statements, we disclose the nature of the contingency and, where feasible, an estimate of the possible loss or range of loss. Based on a consideration of all relevant known facts and circumstances, we do not believe that the ultimate outcome of any currently pending litigation directed against us will have a material impact on our consolidated financial statements either individually at the claim level or in the aggregate. | |
At September 30, 2013 and December 31, 2012, our accruals for litigation contingencies were $5.7 million and $4.4 million, respectively, and were recorded in our Unaudited Condensed Consolidated Balance Sheets as a component of "Other current liabilities." Our evaluation of litigation contingencies is based on the facts and circumstances of each case and predicting the outcome of these matters involves uncertainties. In the event the assumptions we use to evaluate these matters change in future periods or new information becomes available, we may be required to record additional accruals. In an effort to mitigate expenses associated with litigation, we may settle legal proceedings out of court. | |
Contractual Obligations | |
Scheduled Maturities of Debt. With the exception of routine fluctuations in the balances of our Multi-Year Revolving Credit Facility and commercial paper notes, the issuance of Senior Notes HH and II in March 2013 and the scheduled repayment of maturing debt obligations, there have been no significant changes in our consolidated debt obligations since those reported in our 2012 Form 10-K. See Note 9 for additional information regarding our consolidated debt obligations. | |
Operating Lease Obligations. Consolidated lease and rental expense was $19.6 million and $26.0 million during the third quarters of 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, consolidated lease and rental expense was $64.9 million and $71.1 million, respectively. There have been no material changes in our operating lease commitments since those reported in our 2012 Form 10-K. | |
Purchase Obligations. There have been no material changes in our consolidated purchase obligations since those reported in our 2012 Form 10-K. | |
Other Claims | |
As part of our normal business activities with joint venture partners and certain customers and suppliers, we occasionally make claims against such parties or have claims made against us as a result of disputes related to contractual agreements or similar arrangements. As of September 30, 2013, our contingent claims against such parties were $38.9 million and claims against us were $44.1 million. These matters are in various stages of assessment and the ultimate outcome of such disputes cannot be reasonably estimated at this time. With respect to claims against us, we believe that the likelihood of a material loss resulting from such claims is remote. Accordingly, no accruals for loss contingencies related to these matters have been recorded. |
Insurance_Matters
Insurance Matters | 9 Months Ended |
Sep. 30, 2013 | |
Insurance Matters [Abstract] | ' |
Significant Risks and Uncertainties | ' |
Note 15. Insurance Matters | |
We participate as a named insured in EPCO's insurance program, which provides us with property damage, business interruption and other insurance coverage, the scope and amounts of which we believe are customary and prudent for the nature and extent of our operations. While we believe EPCO maintains adequate insurance coverage on our behalf, insurance may not fully cover every type of damage, interruption or other loss that might occur. | |
We elected to forego windstorm coverage for our Gulf of Mexico offshore assets during the 2013 Atlantic hurricane season, which extends from June 1 through November 30. The combination of increasingly high deductibles and proposed premiums resulted in such coverage being uneconomic to us. Although EPCO's coverage does not provide any windstorm coverage for our offshore assets during the annual policy period that began on June 1, 2013, producers affiliated with our Independence Hub and Marco Polo platforms will continue to provide certain levels of physical damage windstorm coverage for each of these key offshore assets. | |
West Storage Claims | |
We received $8.8 million of nonrefundable cash insurance proceeds during the nine months ended September 30, 2013 attributable to property damage claims we filed in connection with a February 2011 NGL release and fire at the West Storage location of our Mont Belvieu, Texas underground storage facility. During the three and nine months ended September 30, 2012, we collected $2.3 million and $30.0 million, respectively, of such proceeds. We did not receive any proceeds related to these claims during the third quarter of 2013. We remain in negotiation with our insurance carriers regarding collection of the remaining West Storage claims, which are currently estimated at $91.9 million. | |
Operating income during the nine months ended September 30, 2013 includes $8.8 million of gains related to these insurance recoveries. Operating income for the three and nine months ended September 30, 2012 includes $2.3 million and $30.0 million, respectively, of such gains. To the extent that additional nonrefundable cash insurance proceeds related to this incident are received, we expect to record gains equal to such proceeds. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||
Supplemental Cash Flow Information | ' | ||||||||
Note 16. Supplemental Cash Flow Information | |||||||||
The following table presents the net effect of changes in our operating accounts for the periods indicated: | |||||||||
For the Nine Months | |||||||||
Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Decrease (increase) in: | |||||||||
Accounts receivable – trade | $ | (1,130.0 | ) | $ | 121.7 | ||||
Accounts receivable – related parties | (9.6 | ) | 27.5 | ||||||
Inventories | (674.2 | ) | (229.2 | ) | |||||
Prepaid and other current assets | (31.5 | ) | (11.3 | ) | |||||
Other assets | 3.2 | (54.3 | ) | ||||||
Increase (decrease) in: | |||||||||
Accounts payable – trade | 114.3 | 36.2 | |||||||
Accounts payable – related parties | (30.4 | ) | (98.9 | ) | |||||
Accrued product payables | 1,358.10 | (609.4 | ) | ||||||
Accrued interest | (132.6 | ) | (100.0 | ) | |||||
Other current liabilities | 29.3 | 26.9 | |||||||
Other liabilities | (10.5 | ) | (19.4 | ) | |||||
Net effect of changes in operating accounts | $ | (513.9 | ) | $ | (910.2 | ) | |||
We incurred liabilities for construction in progress that had not been paid at September 30, 2013 and December 31, 2012 of $378.4 million and $221.7 million, respectively. Such amounts are not included under the caption "Capital expenditures" on the Unaudited Condensed Statements of Consolidated Cash Flows. | |||||||||
The following table presents our cash proceeds from asset sales and insurance recoveries for the periods indicated: | |||||||||
For the Nine Months | |||||||||
Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Sale of Energy Transfer Equity common units (see Note 7) | $ | -- | $ | 1,095.30 | |||||
Sale of Stratton Ridge-to-Mont Belvieu segment of Seminole Pipeline (see Note 6) | 86.9 | -- | |||||||
Sales of pipeline line fill | 65 | 23.7 | |||||||
Sale of lubrication oil and specialty chemical distribution assets | 35.3 | -- | |||||||
Sale of chemical trucking assets | 29.5 | -- | |||||||
Sales of marine transportation assets | 16.5 | 2.4 | |||||||
Insurance recoveries attributable to West Storage claims (see Note 15) | 8.8 | 30 | |||||||
Other cash proceeds | 14.3 | 16 | |||||||
Total | $ | 256.3 | $ | 1,167.40 | |||||
The following table presents gains (losses) attributable to asset sales and insurance recoveries for the periods indicated: | |||||||||
For the Nine Months | |||||||||
Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Sale of Energy Transfer Equity common units (see Note 7) (1) | $ | -- | $ | 68.8 | |||||
Sale of Stratton Ridge-to-Mont Belvieu segment of Seminole Pipeline (see Note 6) | 52.5 | -- | |||||||
Net gains attributable to other asset sales | 7.1 | 4.1 | |||||||
Gains attributable to insurance recoveries (see Note 15) | 8.8 | 30 | |||||||
Total | $ | 68.4 | $ | 102.9 | |||||
(1) This amount is a component of "Other income" as presented on our Unaudited Condensed Statements of Consolidated Operations. All other amounts presented in the table are a component of "Operating costs and expenses" as presented on our Unaudited Condensed Statements of Consolidated Operations. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Condensed Consolidating Financial Information [Abstract] | ' | ||||||||||||||||||||||||||||
Condensed Consolidating Financial Information | ' | ||||||||||||||||||||||||||||
Note 17. Condensed Consolidating Financial Information | |||||||||||||||||||||||||||||
EPO conducts substantially all of our business. Currently, we have no independent operations and no material assets outside those of EPO. Enterprise Products Partners L.P. directly or indirectly owns 100% of EPO. | |||||||||||||||||||||||||||||
EPO has issued publicly traded debt securities. Enterprise Products Partners L.P., as the parent company of EPO, guarantees the debt obligations of EPO, with the exception of the remaining debt obligations of TEPPCO. If EPO were to default on any of its guaranteed debt, Enterprise Products Partners L.P. would be responsible for full and unconditional repayment of that obligation. EPO's consolidated subsidiaries have no significant restrictions on their ability to pay distributions or make loans to Enterprise Products Partners L.P. See Note 9 for additional information regarding our consolidated debt obligations. | |||||||||||||||||||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Balance Sheet | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents and restricted cash | $ | 36.6 | $ | 31.9 | $ | (23.0 | ) | $ | 45.5 | $ | -- | $ | -- | $ | 45.5 | ||||||||||||||
Accounts receivable – trade, net | 1,846.80 | 3,624.80 | (2.5 | ) | 5,469.10 | -- | -- | 5,469.10 | |||||||||||||||||||||
Accounts receivable – related parties | 317.4 | 1,452.90 | (1,757.1 | ) | 13.2 | -- | (0.4 | ) | 12.8 | ||||||||||||||||||||
Inventories | 1,526.90 | 336.6 | (1.1 | ) | 1,862.40 | -- | -- | 1,862.40 | |||||||||||||||||||||
Prepaid and other current assets | 165.2 | 225.1 | (9.4 | ) | 380.9 | 0.2 | -- | 381.1 | |||||||||||||||||||||
Total current assets | 3,892.90 | 5,671.30 | (1,793.1 | ) | 7,771.10 | 0.2 | (0.4 | ) | 7,770.90 | ||||||||||||||||||||
Property, plant and equipment, net | 1,863.30 | 24,588.60 | 2 | 26,453.90 | -- | -- | 26,453.90 | ||||||||||||||||||||||
Investments in unconsolidated affiliates | 30,113.00 | 2,598.80 | (30,577.3 | ) | 2,134.50 | 14,472.90 | (14,472.9 | ) | 2,134.50 | ||||||||||||||||||||
Intangible assets, net | 77.3 | 1,410.30 | -- | 1,487.60 | -- | -- | 1,487.60 | ||||||||||||||||||||||
Goodwill | 458.9 | 1,621.10 | -- | 2,080.00 | -- | -- | 2,080.00 | ||||||||||||||||||||||
Other assets | 128.7 | 73.2 | (3.9 | ) | 198 | 0.1 | -- | 198.1 | |||||||||||||||||||||
Total assets | $ | 36,534.10 | $ | 35,963.30 | $ | (32,372.3 | ) | $ | 40,125.10 | $ | 14,473.20 | $ | (14,473.3 | ) | $ | 40,125.00 | |||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Current maturities of debt | $ | 1,049.90 | $ | -- | $ | -- | $ | 1,049.90 | $ | -- | $ | -- | $ | 1,049.90 | |||||||||||||||
Accounts payable – trade | 353.1 | 710.1 | (23.0 | ) | 1,040.20 | 0.1 | -- | 1,040.30 | |||||||||||||||||||||
Accounts payable – related parties | 1,588.60 | 261.7 | (1,754.5 | ) | 95.8 | 1 | (0.3 | ) | 96.5 | ||||||||||||||||||||
Accrued product payables | 2,364.10 | 3,614.90 | (6.2 | ) | 5,972.80 | -- | -- | 5,972.80 | |||||||||||||||||||||
Accrued interest | 167.9 | 0.3 | -- | 168.2 | -- | -- | 168.2 | ||||||||||||||||||||||
Other current liabilities | 90.7 | 315.8 | (9.3 | ) | 397.2 | -- | (1.1 | ) | 396.1 | ||||||||||||||||||||
Total current liabilities | 5,614.30 | 4,902.80 | (1,793.0 | ) | 8,724.10 | 1.1 | (1.4 | ) | 8,723.80 | ||||||||||||||||||||
Long-term debt | 16,466.60 | 15 | -- | 16,481.60 | -- | -- | 16,481.60 | ||||||||||||||||||||||
Deferred tax liabilities | 3.6 | 53.3 | (3.9 | ) | 53 | -- | 2 | 55 | |||||||||||||||||||||
Other long-term liabilities | 11.3 | 171.2 | (0.1 | ) | 182.4 | -- | -- | 182.4 | |||||||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||
Partners' and other owners' equity | 14,438.30 | 30,748.30 | (30,739.0 | ) | 14,447.60 | 14,472.10 | (14,447.6 | ) | 14,472.10 | ||||||||||||||||||||
Noncontrolling interests | -- | 72.7 | 163.7 | 236.4 | -- | (26.3 | ) | 210.1 | |||||||||||||||||||||
Total equity | 14,438.30 | 30,821.00 | (30,575.3 | ) | 14,684.00 | 14,472.10 | (14,473.9 | ) | 14,682.20 | ||||||||||||||||||||
Total liabilities and equity | $ | 36,534.10 | $ | 35,963.30 | $ | (32,372.3 | ) | $ | 40,125.10 | $ | 14,473.20 | $ | (14,473.3 | ) | $ | 40,125.00 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Balance Sheet | |||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents and restricted cash | $ | 4.3 | $ | 28 | $ | (12.1 | ) | $ | 20.2 | $ | 0.2 | $ | -- | $ | 20.4 | ||||||||||||||
Accounts receivable – trade, net | 1,585.20 | 2,768.70 | (3.0 | ) | 4,350.90 | -- | -- | 4,350.90 | |||||||||||||||||||||
Accounts receivable – related parties | 180.5 | 1,372.80 | (1,550.8 | ) | 2.5 | (0.6 | ) | 0.6 | 2.5 | ||||||||||||||||||||
Inventories | 853.6 | 235.6 | (0.8 | ) | 1,088.40 | -- | -- | 1,088.40 | |||||||||||||||||||||
Prepaid and other current assets | 154.9 | 231.8 | (5.8 | ) | 380.9 | -- | -- | 380.9 | |||||||||||||||||||||
Total current assets | 2,778.50 | 4,636.90 | (1,572.5 | ) | 5,842.90 | (0.4 | ) | 0.6 | 5,843.10 | ||||||||||||||||||||
Property, plant and equipment, net | 1,673.60 | 23,170.80 | 2 | 24,846.40 | -- | -- | 24,846.40 | ||||||||||||||||||||||
Investments in unconsolidated affiliates | 28,454.40 | 1,846.90 | (28,906.7 | ) | 1,394.60 | 13,188.00 | (13,188.0 | ) | 1,394.60 | ||||||||||||||||||||
Intangible assets, net | 78.5 | 1,488.30 | -- | 1,566.80 | -- | -- | 1,566.80 | ||||||||||||||||||||||
Goodwill | 458.9 | 1,627.90 | -- | 2,086.80 | -- | -- | 2,086.80 | ||||||||||||||||||||||
Other assets | 126 | 71.4 | (0.9 | ) | 196.5 | 0.2 | -- | 196.7 | |||||||||||||||||||||
Total assets | $ | 33,569.90 | $ | 32,842.20 | $ | (30,478.1 | ) | $ | 35,934.00 | $ | 13,187.80 | $ | (13,187.4 | ) | $ | 35,934.40 | |||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Current maturities of debt | $ | 1,516.70 | $ | 29.9 | $ | -- | $ | 1,546.60 | $ | -- | $ | -- | $ | 1,546.60 | |||||||||||||||
Accounts payable – trade | 226.7 | 549.8 | (12.1 | ) | 764.4 | 0.1 | -- | 764.5 | |||||||||||||||||||||
Accounts payable – related parties | 1,584.20 | 92.9 | (1,550.6 | ) | 126.5 | -- | 0.6 | 127.1 | |||||||||||||||||||||
Accrued product payables | 1,851.80 | 2,628.40 | (4.0 | ) | 4,476.20 | -- | -- | 4,476.20 | |||||||||||||||||||||
Accrued interest | 300.1 | 0.7 | -- | 300.8 | -- | -- | 300.8 | ||||||||||||||||||||||
Other current liabilities | 266.5 | 280 | (5.8 | ) | 540.7 | -- | (0.2 | ) | 540.5 | ||||||||||||||||||||
Total current liabilities | 5,746.00 | 3,581.70 | (1,572.5 | ) | 7,755.20 | 0.1 | 0.4 | 7,755.70 | |||||||||||||||||||||
Long-term debt | 14,640.20 | 15 | -- | 14,655.20 | -- | -- | 14,655.20 | ||||||||||||||||||||||
Deferred tax liabilities | 5.1 | 17.7 | (0.9 | ) | 21.9 | -- | 0.6 | 22.5 | |||||||||||||||||||||
Other long-term liabilities | 15.6 | 189.4 | -- | 205 | -- | -- | 205 | ||||||||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||
Partners' and other owners' equity | 13,163.00 | 28,963.70 | (28,961.1 | ) | 13,165.60 | 13,187.70 | (13,165.6 | ) | 13,187.70 | ||||||||||||||||||||
Noncontrolling interests | -- | 74.7 | 56.4 | 131.1 | -- | (22.8 | ) | 108.3 | |||||||||||||||||||||
Total equity | 13,163.00 | 29,038.40 | (28,904.7 | ) | 13,296.70 | 13,187.70 | (13,188.4 | ) | 13,296.00 | ||||||||||||||||||||
Total liabilities and equity | $ | 33,569.90 | $ | 32,842.20 | $ | (30,478.1 | ) | $ | 35,934.00 | $ | 13,187.80 | $ | (13,187.4 | ) | $ | 35,934.40 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Revenues | $ | 7,070.30 | $ | 8,588.40 | $ | (3,565.4 | ) | $ | 12,093.30 | $ | -- | $ | -- | $ | 12,093.30 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||
Operating costs and expenses | 6,858.00 | 7,980.90 | (3,565.4 | ) | 11,273.50 | -- | -- | 11,273.50 | |||||||||||||||||||||
General and administrative costs | 7.6 | 36 | -- | 43.6 | 0.3 | -- | 43.9 | ||||||||||||||||||||||
Total costs and expenses | 6,865.60 | 8,016.90 | (3,565.4 | ) | 11,317.10 | 0.3 | -- | 11,317.40 | |||||||||||||||||||||
Equity in income of unconsolidated affiliates | 577.2 | 47.8 | (581.0 | ) | 44 | 592.3 | (592.3 | ) | 44 | ||||||||||||||||||||
Operating income | 781.9 | 619.3 | (581.0 | ) | 820.2 | 592 | (592.3 | ) | 819.9 | ||||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||||
Interest expense | (208.0 | ) | (0.3 | ) | -- | (208.3 | ) | -- | -- | (208.3 | ) | ||||||||||||||||||
Other, net | 0.1 | 0.5 | -- | 0.6 | -- | -- | 0.6 | ||||||||||||||||||||||
Total other expense, net | (207.9 | ) | 0.2 | -- | (207.7 | ) | -- | -- | (207.7 | ) | |||||||||||||||||||
Income before income taxes | 574 | 619.5 | (581.0 | ) | 612.5 | 592 | (592.3 | ) | 612.2 | ||||||||||||||||||||
Benefit from (provision for) income taxes | 17.7 | (36.8 | ) | -- | (19.1 | ) | -- | (0.3 | ) | (19.4 | ) | ||||||||||||||||||
Net income | 591.7 | 582.7 | (581.0 | ) | 593.4 | 592 | (592.6 | ) | 592.8 | ||||||||||||||||||||
Net income attributable to noncontrolling interests | -- | (0.2 | ) | (1.6 | ) | (1.8 | ) | -- | 1 | (0.8 | ) | ||||||||||||||||||
Net income attributable to entity | $ | 591.7 | $ | 582.5 | $ | (582.6 | ) | $ | 591.6 | $ | 592 | $ | (591.6 | ) | $ | 592 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary Issuer (EPO) | Other Subsidiaries (Non-guarantor) | EPO and Subsidiaries Eliminations and Adjustments | Consolidated EPO and Subsidiaries | Enterprise Products Partners L.P. (Guarantor) | Eliminations and Adjustments | Consolidated Total | |||||||||||||||||||||||
Revenues | $ | 6,392.60 | $ | 7,072.50 | $ | (2,996.4 | ) | $ | 10,468.70 | $ | -- | $ | -- | $ | 10,468.70 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||
Operating costs and expenses | 6,192.80 | 6,464.80 | (2,997.8 | ) | 9,659.80 | -- | -- | 9,659.80 | |||||||||||||||||||||
General and administrative costs | (4.4 | ) | 45.6 | -- | 41.2 | 0.2 | -- | 41.4 | |||||||||||||||||||||
Total costs and expenses | 6,188.40 | 6,510.40 | (2,997.8 | ) | 9,701.00 | 0.2 | -- | 9,701.20 | |||||||||||||||||||||
Equity in income of unconsolidated affiliates | 581.4 | 25.7 | (586.1 | ) | 21 | 587 | (587.0 | ) | 21 | ||||||||||||||||||||
Operating income | 785.6 | 587.8 | (584.7 | ) | 788.7 | 586.8 | (587.0 | ) | 788.5 | ||||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||||
Interest expense | (199.0 | ) | (0.7 | ) | -- | (199.7 | ) | -- | -- | (199.7 | ) | ||||||||||||||||||
Other, net | -- | 1.5 | -- | 1.5 | -- | -- | 1.5 | ||||||||||||||||||||||
Total other expense, net | (199.0 | ) | 0.8 | -- | (198.2 | ) | -- | -- | (198.2 | ) | |||||||||||||||||||
Income before income taxes | 586.6 | 588.6 | (584.7 | ) | 590.5 | 586.8 | (587.0 | ) | 590.3 | ||||||||||||||||||||
Provision for income taxes | (1.4 | ) | (0.8 | ) | -- | (2.2 | ) | -- | (0.2 | ) | (2.4 | ) | |||||||||||||||||
Net income | 585.2 | 587.8 | (584.7 | ) | 588.3 | 586.8 | (587.2 | ) | 587.9 | ||||||||||||||||||||
Net income attributable to noncontrolling interests | -- | (0.4 | ) | (1.2 | ) | (1.6 | ) | -- | 0.5 | (1.1 | ) | ||||||||||||||||||
Net income attributable to entity | $ | 585.2 | $ | 587.4 | $ | (585.9 | ) | $ | 586.7 | $ | 586.8 | $ | (586.7 | ) | $ | 586.8 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Revenues | $ | 20,916.80 | $ | 24,044.50 | $ | (10,335.6 | ) | $ | 34,625.70 | $ | -- | $ | -- | $ | 34,625.70 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||
Operating costs and expenses | 20,328.50 | 22,068.20 | (10,335.6 | ) | 32,061.10 | -- | -- | 32,061.10 | |||||||||||||||||||||
General and administrative costs | 19.7 | 118 | -- | 137.7 | 1.2 | -- | 138.9 | ||||||||||||||||||||||
Total costs and expenses | 20,348.20 | 22,186.20 | (10,335.6 | ) | 32,198.80 | 1.2 | -- | 32,200.00 | |||||||||||||||||||||
Equity in income of unconsolidated affiliates | 1,936.20 | 141.9 | (1,952.0 | ) | 126.1 | 1,899.20 | (1,899.2 | ) | 126.1 | ||||||||||||||||||||
Operating income | 2,504.80 | 2,000.20 | (1,952.0 | ) | 2,553.00 | 1,898.00 | (1,899.2 | ) | 2,551.80 | ||||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||||
Interest expense | (603.0 | ) | (1.4 | ) | -- | (604.4 | ) | -- | -- | (604.4 | ) | ||||||||||||||||||
Other, net | 0.3 | (0.1 | ) | -- | 0.2 | -- | -- | 0.2 | |||||||||||||||||||||
Total other expense, net | (602.7 | ) | (1.5 | ) | -- | (604.2 | ) | -- | -- | (604.2 | ) | ||||||||||||||||||
Income before income taxes | 1,902.10 | 1,998.70 | (1,952.0 | ) | 1,948.80 | 1,898.00 | (1,899.2 | ) | 1,947.60 | ||||||||||||||||||||
Provision for income taxes | (4.9 | ) | (40.7 | ) | -- | (45.6 | ) | -- | (0.6 | ) | (46.2 | ) | |||||||||||||||||
Net income | 1,897.20 | 1,958.00 | (1,952.0 | ) | 1,903.20 | 1,898.00 | (1,899.8 | ) | 1,901.40 | ||||||||||||||||||||
Net income attributable to noncontrolling interests | -- | (1.1 | ) | (4.9 | ) | (6.0 | ) | -- | 2.6 | (3.4 | ) | ||||||||||||||||||
Net income attributable to entity | $ | 1,897.20 | $ | 1,956.90 | $ | (1,956.9 | ) | $ | 1,897.20 | $ | 1,898.00 | $ | (1,897.2 | ) | $ | 1,898.00 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Revenues | $ | 20,066.00 | $ | 20,927.00 | $ | (9,482.0 | ) | $ | 31,511.00 | $ | -- | $ | -- | $ | 31,511.00 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||
Operating costs and expenses | 19,467.00 | 19,151.40 | (9,481.9 | ) | 29,136.50 | -- | -- | 29,136.50 | |||||||||||||||||||||
General and administrative costs | 20.1 | 108.9 | -- | 129 | 1.2 | -- | 130.2 | ||||||||||||||||||||||
Total costs and expenses | 19,487.10 | 19,260.30 | (9,481.9 | ) | 29,265.50 | 1.2 | -- | 29,266.70 | |||||||||||||||||||||
Equity in income of unconsolidated affiliates | 1,774.70 | 53.1 | (1,785.6 | ) | 42.2 | 1,805.60 | (1,805.6 | ) | 42.2 | ||||||||||||||||||||
Operating income | 2,353.60 | 1,719.80 | (1,785.7 | ) | 2,287.70 | 1,804.40 | (1,805.6 | ) | 2,286.50 | ||||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||||
Interest expense | (570.3 | ) | (2.5 | ) | -- | (572.8 | ) | -- | -- | (572.8 | ) | ||||||||||||||||||
Other, net | 0.1 | 73.3 | -- | 73.4 | -- | -- | 73.4 | ||||||||||||||||||||||
Total other expense, net | (570.2 | ) | 70.8 | -- | (499.4 | ) | -- | -- | (499.4 | ) | |||||||||||||||||||
Income before income taxes | 1,783.40 | 1,790.60 | (1,785.7 | ) | 1,788.30 | 1,804.40 | (1,805.6 | ) | 1,787.10 | ||||||||||||||||||||
Benefit from income taxes | 21 | 2.9 | - | 23.9 | -- | (0.4 | ) | 23.5 | |||||||||||||||||||||
Net income | 1,804.40 | 1,793.50 | (1,785.7 | ) | 1,812.20 | 1,804.40 | (1,806.0 | ) | 1,810.60 | ||||||||||||||||||||
Net income attributable to noncontrolling interests | -- | (4.6 | ) | (3.2 | ) | (7.8 | ) | -- | 1.6 | (6.2 | ) | ||||||||||||||||||
Net income attributable to entity | $ | 1,804.40 | $ | 1,788.90 | $ | (1,788.9 | ) | $ | 1,804.40 | $ | 1,804.40 | $ | (1,804.4 | ) | $ | 1,804.40 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Comprehensive income | $ | 583.4 | $ | 604.7 | $ | (580.9 | ) | $ | 607.2 | $ | 605.7 | $ | (606.4 | ) | $ | 606.5 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -- | (0.2 | ) | (1.6 | ) | (1.8 | ) | -- | 1 | (0.8 | ) | ||||||||||||||||||
Comprehensive income attributable to entity | $ | 583.4 | $ | 604.5 | $ | (582.5 | ) | $ | 605.4 | $ | 605.7 | $ | (605.4 | ) | $ | 605.7 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Comprehensive income | $ | 559.8 | $ | 543.5 | $ | (584.7 | ) | $ | 518.6 | $ | 517.2 | $ | (517.5 | ) | $ | 518.3 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -- | (0.4 | ) | (1.2 | ) | (1.6 | ) | -- | 0.5 | (1.1 | ) | ||||||||||||||||||
Comprehensive income attributable to entity | $ | 559.8 | $ | 543.1 | $ | (585.9 | ) | $ | 517 | $ | 517.2 | $ | (517.0 | ) | $ | 517.2 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Comprehensive income | $ | 1,911.50 | $ | 1,964.70 | $ | (1,951.9 | ) | $ | 1,924.30 | $ | 1,919.10 | $ | (1,920.9 | ) | $ | 1,922.50 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -- | (1.1 | ) | (4.9 | ) | (6.0 | ) | -- | 2.6 | (3.4 | ) | ||||||||||||||||||
Comprehensive income attributable to entity | $ | 1,911.50 | $ | 1,963.60 | $ | (1,956.8 | ) | $ | 1,918.30 | $ | 1,919.10 | $ | (1,918.3 | ) | $ | 1,919.10 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Comprehensive income | $ | 1,743.40 | $ | 1,817.50 | $ | (1,785.7 | ) | $ | 1,775.20 | $ | 1,767.50 | $ | (1,769.0 | ) | $ | 1,773.70 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -- | (4.6 | ) | (3.2 | ) | (7.8 | ) | -- | 1.6 | (6.2 | ) | ||||||||||||||||||
Comprehensive income attributable to entity | $ | 1,743.40 | $ | 1,812.90 | $ | (1,788.9 | ) | $ | 1,767.40 | $ | 1,767.50 | $ | (1,767.4 | ) | $ | 1,767.50 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Operating activities: | |||||||||||||||||||||||||||||
Net income | $ | 1,897.20 | $ | 1,958.00 | $ | (1,952.0 | ) | $ | 1,903.20 | $ | 1,898.00 | $ | (1,899.8 | ) | $ | 1,901.40 | |||||||||||||
Reconciliation of net income to net cash flows provided by operating activities: | |||||||||||||||||||||||||||||
Depreciation, amortization and accretion | 105.3 | 797 | -- | 902.3 | -- | -- | 902.3 | ||||||||||||||||||||||
Equity in income of unconsolidated affiliates | (1,936.2 | ) | (141.9 | ) | 1,952.00 | (126.1 | ) | (1,899.2 | ) | 1,899.20 | (126.1 | ) | |||||||||||||||||
Distributions received from unconsolidated affiliates | 3,421.10 | 180.7 | (3,414.2 | ) | 187.6 | 1,830.90 | (1,830.9 | ) | 187.6 | ||||||||||||||||||||
Net effect of changes in operating accounts and other operating activities | (1,371.4 | ) | 889.7 | (11.0 | ) | (492.7 | ) | (6.6 | ) | 0.3 | (499.0 | ) | |||||||||||||||||
Net cash flows provided by operating activities | 2,116.00 | 3,683.50 | (3,425.2 | ) | 2,374.30 | 1,823.10 | (1,831.2 | ) | 2,366.20 | ||||||||||||||||||||
Investing activities: | |||||||||||||||||||||||||||||
Capital expenditures, net of contributions in aid of construction costs | (292.1 | ) | (2,101.2 | ) | -- | (2,393.3 | ) | -- | -- | (2,393.3 | ) | ||||||||||||||||||
Proceeds from asset sales and insurance recoveries | 57.5 | 198.8 | -- | 256.3 | -- | -- | 256.3 | ||||||||||||||||||||||
Other investing activities | (2,366.7 | ) | (485.6 | ) | 2,051.80 | (800.5 | ) | (1,135.2 | ) | 1,135.20 | (800.5 | ) | |||||||||||||||||
Cash used in investing activities | (2,601.3 | ) | (2,388.0 | ) | 2,051.80 | (2,937.5 | ) | (1,135.2 | ) | 1,135.20 | (2,937.5 | ) | |||||||||||||||||
Financing activities: | |||||||||||||||||||||||||||||
Borrowings under debt agreements | 10,139.20 | -- | -- | 10,139.20 | -- | -- | 10,139.20 | ||||||||||||||||||||||
Repayments of debt | (8,761.7 | ) | (29.9 | ) | -- | (8,791.6 | ) | -- | -- | (8,791.6 | ) | ||||||||||||||||||
Cash distributions paid to partners | (1,831.2 | ) | (3,420.6 | ) | 3,420.60 | (1,831.2 | ) | (1,778.3 | ) | 1,831.20 | (1,778.3 | ) | |||||||||||||||||
Cash distributions paid to noncontrolling interests | -- | -- | (6.4 | ) | (6.4 | ) | -- | -- | (6.4 | ) | |||||||||||||||||||
Cash contributions from noncontrolling interests | -- | -- | 104.2 | 104.2 | -- | -- | 104.2 | ||||||||||||||||||||||
Net cash proceeds from issuance of common units | -- | -- | -- | -- | 1,134.70 | -- | 1,134.70 | ||||||||||||||||||||||
Cash contributions from owners | 1,135.20 | 2,155.90 | (2,155.9 | ) | 1,135.20 | -- | (1,135.2 | ) | -- | ||||||||||||||||||||
Other financing activities | (192.6 | ) | 0.1 | -- | (192.5 | ) | (44.5 | ) | -- | (237.0 | ) | ||||||||||||||||||
Cash provided by (used in) financing activities | 488.9 | (1,294.5 | ) | 1,362.50 | 556.9 | (688.1 | ) | 696 | 564.8 | ||||||||||||||||||||
Net change in cash and cash equivalents | 3.6 | 1 | (10.9 | ) | (6.3 | ) | (0.2 | ) | -- | (6.5 | ) | ||||||||||||||||||
Cash and cash equivalents, January 1 | -- | 28 | (12.1 | ) | 15.9 | 0.2 | -- | 16.1 | |||||||||||||||||||||
Cash and cash equivalents, September 30 | $ | 3.6 | $ | 29 | $ | (23.0 | ) | $ | 9.6 | $ | -- | $ | -- | $ | 9.6 | ||||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Operating activities: | |||||||||||||||||||||||||||||
Net income | $ | 1,804.40 | $ | 1,793.50 | $ | (1,785.7 | ) | $ | 1,812.20 | $ | 1,804.40 | $ | (1,806.0 | ) | $ | 1,810.60 | |||||||||||||
Reconciliation of net income to net cash flows provided by operating activities: | |||||||||||||||||||||||||||||
Depreciation, amortization and accretion | 89.9 | 728 | -- | 817.9 | -- | -- | 817.9 | ||||||||||||||||||||||
Equity in income of unconsolidated affiliates | (1,774.7 | ) | (53.1 | ) | 1,785.60 | (42.2 | ) | (1,805.6 | ) | 1,805.60 | (42.2 | ) | |||||||||||||||||
Distributions received from unconsolidated affiliates | 2,898.70 | 54.3 | (2,885.5 | ) | 67.5 | 1,643.40 | (1,643.4 | ) | 67.5 | ||||||||||||||||||||
Net effect of changes in operating accounts and other operating activities | (2,005.1 | ) | 1,057.80 | 1.4 | (945.9 | ) | (92.5 | ) | 0.4 | (1,038.0 | ) | ||||||||||||||||||
Net cash flows provided by operating activities | 1,013.20 | 3,580.50 | (2,884.2 | ) | 1,709.50 | 1,549.70 | (1,643.4 | ) | 1,615.80 | ||||||||||||||||||||
Investing activities: | |||||||||||||||||||||||||||||
Capital expenditures, net of contributions in aid of construction costs | (161.2 | ) | (2,536.7 | ) | -- | (2,697.9 | ) | -- | -- | (2,697.9 | ) | ||||||||||||||||||
Proceeds from asset sales and insurance recoveries | 1,109.10 | 58.3 | -- | 1,167.40 | -- | -- | 1,167.40 | ||||||||||||||||||||||
Other investing activities | (2,161.7 | ) | (254.2 | ) | 2,051.40 | (364.5 | ) | (571.5 | ) | 571.5 | (364.5 | ) | |||||||||||||||||
Cash used in investing activities | (1,213.8 | ) | (2,732.6 | ) | 2,051.40 | (1,895.0 | ) | (571.5 | ) | 571.5 | (1,895.0 | ) | |||||||||||||||||
Financing activities: | |||||||||||||||||||||||||||||
Borrowings under debt agreements | 7,141.40 | -- | -- | 7,141.40 | -- | -- | 7,141.40 | ||||||||||||||||||||||
Repayments of debt | (5,706.5 | ) | (9.5 | ) | -- | (5,716.0 | ) | -- | -- | (5,716.0 | ) | ||||||||||||||||||
Cash distributions paid to partners | (1,643.4 | ) | (2,889.7 | ) | 2,889.70 | (1,643.4 | ) | (1,613.4 | ) | 1,643.40 | (1,613.4 | ) | |||||||||||||||||
Cash distributions paid to noncontrolling interests | -- | (7.1 | ) | (4.2 | ) | (11.3 | ) | -- | -- | (11.3 | ) | ||||||||||||||||||
Cash contributions from noncontrolling interests | -- | -- | 6.5 | 6.5 | -- | -- | 6.5 | ||||||||||||||||||||||
Net cash proceeds from issuance of common units | -- | -- | -- | -- | 658.6 | -- | 658.6 | ||||||||||||||||||||||
Cash contributions from owners | 571.5 | 2,057.80 | (2,057.8 | ) | 571.5 | -- | (571.5 | ) | -- | ||||||||||||||||||||
Other financing activities | (168.5 | ) | -- | -- | (168.5 | ) | (23.4 | ) | -- | (191.9 | ) | ||||||||||||||||||
Cash provided by (used in) financing activities | 194.5 | (848.5 | ) | 834.2 | 180.2 | (978.2 | ) | 1,071.90 | 273.9 | ||||||||||||||||||||
Net change in cash and cash equivalents | (6.1 | ) | (0.6 | ) | 1.4 | (5.3 | ) | -- | -- | (5.3 | ) | ||||||||||||||||||
Cash and cash equivalents, January 1 | 9.7 | 21.3 | (11.2 | ) | 19.8 | -- | -- | 19.8 | |||||||||||||||||||||
Cash and cash equivalents, September 30 | $ | 3.6 | $ | 20.7 | $ | (9.8 | ) | $ | 14.5 | $ | -- | $ | -- | $ | 14.5 |
Subsequent_Event
Subsequent Event | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Event [Abstract] | ' |
Subsequent Event | ' |
Note 18. Subsequent Event | |
On November 8, 2013, we issued 9,200,000 common units to the public (including an over-allotment amount of 1,200,000 common units) at an offering price of $62.05 per unit. This underwritten offering generated net proceeds of $553.4 million, which were used for general company purposes. |
General_Accounting_Matters_Pol
General Accounting Matters (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
General Accounting Matters [Abstract] | ' |
Contingencies | ' |
Contingencies | |
Certain conditions may exist as of the date our consolidated financial statements are issued, which may result in a loss to us but which will only be resolved when one or more future events occur or fail to occur. Management has regular quarterly litigation reviews, including updates from legal counsel, to assess the need for accounting recognition or disclosure of these contingencies, and such assessment inherently involves an exercise in judgment. In assessing loss contingencies related to legal proceedings that are pending against us or unasserted claims that may result in such proceedings, our management and legal counsel evaluate the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. | |
We accrue an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. We do not record a contingent liability when the likelihood of loss is probable but the amount cannot be reasonably estimated or when it is believed to be only reasonably possible or remote. | |
For contingencies where an unfavorable outcome is reasonably possible and the impact would be material, we disclose the nature of the contingency and, if feasible, an estimate of the possible loss or range of loss. | |
Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. See Note 14 for additional information regarding our contingencies. | |
Derivative Instruments | ' |
Derivative Instruments | |
We use derivative instruments such as futures, swaps, options, forward contracts and other arrangements to manage price risks associated with inventories, firm commitments, interest rates, foreign currencies and certain anticipated future commodity transactions. To qualify for hedge accounting, the hedged item must expose us to risk and the related derivative instrument must reduce the exposure to that risk and meet specific hedge documentation requirements related to designation dates, expectations for hedge effectiveness and the probability that hedged future transactions will occur as forecasted. We formally designate derivative instruments as hedges and document and assess their effectiveness at inception of the hedge and on a monthly basis thereafter. Forecasted transactions are evaluated for the probability of occurrence and are periodically back-tested once the forecasted period has passed to determine whether similarly forecasted transactions are probable of occurring in the future. | |
For certain physical forward commodity derivative contracts, we apply the normal purchase/normal sale exception, whereby changes in the mark-to-market values of such contracts are not recognized in income. As a result, the revenues and expenses associated with such physical transactions are recognized during the period when volumes are physically delivered or received. Physical forward commodity contracts subject to this exception are evaluated for the probability of future delivery and are periodically back-tested once the forecasted period has passed to determine whether similar forward contracts are probable of physical delivery in the future. | |
See Note 4 for additional information regarding our derivative instruments. | |
Estimates | ' |
Estimates | |
Preparing our consolidated financial statements in conformity with U.S. GAAP requires us to make estimates that affect amounts presented in the financial statements. Our most significant estimates relate to (i) the useful lives and depreciation/amortization methods used for fixed and identifiable intangible assets; (ii) measurement of fair value and projections used in impairment testing of fixed and intangible assets (including goodwill); (iii) contingencies; and (iv) revenue and expense accruals. | |
Actual results could differ materially from our estimates. On an ongoing basis, we review our estimates based on currently available information. Any changes in the facts and circumstances underlying our estimates may require us to update such estimates, which could have a material impact on our consolidated financial statements. | |
Restricted Cash | ' |
Restricted Cash | |
Restricted cash represents amounts held in bank accounts as margin in support of our commodity derivative instruments portfolio and related physical natural gas, crude oil, refined products and NGL purchases and sales. Additional cash may be restricted to maintain this portfolio as commodity prices fluctuate or deposit requirements change. At September 30, 2013 and December 31, 2012, our restricted cash amounts were $35.9 million and $4.3 million, respectively. See Note 4 for information regarding our derivative instruments and hedging activities. |
General_Accounting_Matters_Tab
General Accounting Matters (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
General Accounting Matters [Abstract] | ' | ||||||||||||||||
Allowance for Doubtful Accounts Activity | ' | ||||||||||||||||
For the Nine Months | |||||||||||||||||
Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance at beginning of period | $ | 13.2 | $ | 13.4 | |||||||||||||
Charged to costs and expenses | 1.2 | 0.2 | |||||||||||||||
Deductions | (7.7 | ) | (0.4 | ) | |||||||||||||
Balance at end of period | $ | 6.7 | $ | 13.2 | |||||||||||||
Schedule of Other Nonoperating Income | ' | ||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Gain on sales of available-for-sale securities of Energy Transfer Equity (1) | $ | -- | $ | -- | $ | -- | $ | 68.8 | |||||||||
Distribution income from Energy Transfer Equity | -- | -- | -- | 4.1 | |||||||||||||
Other | 0.4 | 1.2 | (0.5 | ) | (0.2 | ) | |||||||||||
Total | $ | 0.4 | $ | 1.2 | $ | (0.5 | ) | $ | 72.7 | ||||||||
(1) See Note 7 for information regarding the liquidation of our investment in limited partnership units of Energy Transfer Equity. |
Equitybased_Awards_Tables
Equity-based Awards (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Equity-based Awards [Abstract] | ' | ||||||||||||||||
Equity-based Award Expense | ' | ||||||||||||||||
An allocated portion of the fair value of EPCO's equity-based awards is charged to us under the ASA. The following table summarizes the compensation expense we recognized in connection with equity-based awards for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Restricted common unit awards | $ | 17.8 | $ | 13.8 | $ | 52.7 | $ | 44.3 | |||||||||
Unit option awards | 0.1 | 0.2 | 0.7 | 1.2 | |||||||||||||
Other (1) | 0.1 | 0.2 | 0.4 | 1.6 | |||||||||||||
Total | $ | 18 | $ | 14.2 | $ | 53.8 | $ | 47.1 | |||||||||
(1) Primarily represents expense associated with unit appreciation rights ("UARs"), phantom units and similar awards. | |||||||||||||||||
Restricted Common Unit Awards | ' | ||||||||||||||||
The following table presents information regarding restricted common unit awards for the period indicated: | |||||||||||||||||
Number of | Weighted- | ||||||||||||||||
Units | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
per Unit (1) | |||||||||||||||||
Restricted common units at December 31, 2012 | 3,893,486 | $ | 40.87 | ||||||||||||||
Granted (2,3) | 1,769,076 | $ | 57.2 | ||||||||||||||
Vested (3) | (1,846,198 | ) | $ | 34.77 | |||||||||||||
Forfeited | (159,832 | ) | $ | 47.4 | |||||||||||||
Restricted common units at September 30, 2013 | 3,656,532 | $ | 51.56 | ||||||||||||||
(1) Determined by dividing the aggregate grant date fair value of awards (before an allowance for forfeitures) by the number of awards issued. | |||||||||||||||||
(2) The aggregate grant date fair value of restricted common unit awards issued during 2013 was $101.2 million based on a grant date market price of our common units ranging from $57.11 to $61.58 per unit. An estimated annual forfeiture rate of 3.9% was applied to these awards. | |||||||||||||||||
(3) Includes awards granted to the independent directors of the board of directors of Enterprise GP as part of their annual compensation for 2013. A total of 9,296 restricted common unit awards were issued to the independent directors of Enterprise GP, which immediately vested upon issuance. | |||||||||||||||||
Cash Distributions and Total Intrinsic Value of Restricted Common Units | ' | ||||||||||||||||
The following table presents supplemental information regarding restricted common unit awards for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cash distributions paid to restricted common unitholders | $ | 2.6 | $ | 2.5 | $ | 8.2 | $ | 7.9 | |||||||||
Total intrinsic value of restricted common unit awards that vested during period | 1 | 1.5 | 107.4 | 64.2 | |||||||||||||
Unit Option Activity | ' | ||||||||||||||||
The fair value of each unit option award is estimated on the date of grant using a Black-Scholes option pricing model. Compensation expense recorded in connection with unit option awards is based on the grant date fair value, net of an allowance for estimated forfeitures, over the requisite service or vesting period. The following table presents unit option award activity for the period indicated: | |||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||||||
Units | Average | Average | Intrinsic | ||||||||||||||
Strike Price | Remaining | Value (1) | |||||||||||||||
(dollars/unit) | Contractual | ||||||||||||||||
Term | |||||||||||||||||
(in years) | |||||||||||||||||
Unit option awards at December 31, 2012 | 2,761,140 | $ | 27.41 | 2 | $ | 13 | |||||||||||
Exercised | (736,140 | ) | $ | 29.95 | |||||||||||||
Unit option awards at September 30, 2013 | 2,025,000 | $ | 26.49 | 1.6 | $ | 50 | |||||||||||
Options exercisable at September 30, 2013 | -- | $ | -- | -- | $ | -- | |||||||||||
(1) Aggregate intrinsic value reflects fully vested unit option awards at the date indicated. | |||||||||||||||||
Supplemental Information Regarding Unit Options | ' | ||||||||||||||||
The following table presents supplemental information regarding unit option awards during the periods indicated: | |||||||||||||||||
For the Nine Months | |||||||||||||||||
Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Total intrinsic value of unit option awards exercised during period | $ | 19.8 | $ | 14 | |||||||||||||
Cash received from EPCO in connection with the exercise of unit option awards | 11.5 | 10.2 | |||||||||||||||
Unit option award-related cash reimbursements to EPCO | 19.8 | 14 |
Derivative_Instruments_Hedging1
Derivative Instruments, Hedging Activities and Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments, Hedging Activities and Fair Value Measurements [Abstract] | ' | ||||||||||||||||||||||||||||
Hedging Instruments Under the FASB's Derivative and Hedging Guidance | ' | ||||||||||||||||||||||||||||
The following table summarizes our portfolio of interest rate swaps at September 30, 2013: | |||||||||||||||||||||||||||||
Hedged Transaction | Number and Type | Notional | Period of | Rate | Accounting | ||||||||||||||||||||||||
of Derivatives | Amount | Hedge | Swap | Treatment | |||||||||||||||||||||||||
Outstanding | |||||||||||||||||||||||||||||
Senior Notes AA | 10 fixed-to-floating swaps | $ | 750 | 1/2011 to 2/2016 | 3.2% to 1.2% | Fair value hedge | |||||||||||||||||||||||
Undesignated swaps | 6 floating-to-fixed swaps | $ | 600 | 5/2010 to 7/2014 | 0.3% to 2.0% | Mark-to-market | |||||||||||||||||||||||
The prices of natural gas, NGLs, crude oil, refined products and petrochemical products are subject to fluctuations in response to changes in supply and demand, market conditions and a variety of additional factors that are beyond our control. In order to manage such price risks, we enter into commodity derivative instruments such as physical forward contracts, futures contracts, fixed-for-float swaps, basis swaps and option contracts. The following table summarizes our portfolio of commodity derivative instruments outstanding at September 30, 2013 (volume measures as noted): | |||||||||||||||||||||||||||||
Volume (1) | Accounting | ||||||||||||||||||||||||||||
Derivative Purpose | Current (2) | Long-Term (2) | Treatment | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||
Natural gas processing: | |||||||||||||||||||||||||||||
Forecasted sales of NGLs (MMBbls) | 0.1 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Octane enhancement: | |||||||||||||||||||||||||||||
Forecasted purchases of NGLs (MMBbls) | 1 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Forecasted sales of octane enhancement products (MMBbls) | 3.2 | 0.7 | Cash flow hedge | ||||||||||||||||||||||||||
Natural gas marketing: | |||||||||||||||||||||||||||||
Forecasted sales of natural gas (Bcf) | 2.4 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Natural gas storage inventory management activities (Bcf) | 10 | n/a | Fair value hedge | ||||||||||||||||||||||||||
NGL marketing: | |||||||||||||||||||||||||||||
Forecasted purchases of NGLs and related hydrocarbon products (MMBbls) | 3.6 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Forecasted sales of NGLs and related hydrocarbon products (MMBbls) | 7.3 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Refined products marketing: | |||||||||||||||||||||||||||||
Forecasted purchases of refined products (MMBbls) | 0.8 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Forecasted sales of refined products (MMBbls) | 1 | n/a | Cash flow hedge | ||||||||||||||||||||||||||
Crude oil marketing: | |||||||||||||||||||||||||||||
Forecasted purchases of crude oil (MMBbls) | 3.7 | 0.3 | Cash flow hedge | ||||||||||||||||||||||||||
Forecasted sales of crude oil (MMBbls) | 5.1 | 0.5 | Cash flow hedge | ||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||
Natural gas risk management activities (Bcf) (3,4) | 112.2 | 23.8 | Mark-to-market | ||||||||||||||||||||||||||
Refined products risk management activities (MMBbls) (4) | 0.6 | n/a | Mark-to-market | ||||||||||||||||||||||||||
Crude oil risk management activities (MMBbls) (4) | 11 | 0.9 | Mark-to-market | ||||||||||||||||||||||||||
(1) Volume for derivatives designated as hedging instruments reflects the total amount of volumes hedged whereas volume for derivatives not designated as hedging instruments reflects the absolute value of derivative notional volumes. | |||||||||||||||||||||||||||||
(2) The maximum term for derivatives designated as cash flow hedges, derivatives designated as fair value hedges and derivatives not designated as hedging instruments is January 2015, May 2014 and October 2016, respectively. | |||||||||||||||||||||||||||||
(3) Current and long-term volumes include 52.0 Bcf and 0.3 Bcf, respectively, of physical derivative instruments that are predominantly priced at a marked-based index plus a premium or minus a discount related to location differences. | |||||||||||||||||||||||||||||
(4) Reflects the use of derivative instruments to manage risks associated with transportation, processing and storage assets. | |||||||||||||||||||||||||||||
Derivative Assets and Liabilities Balance Sheet | ' | ||||||||||||||||||||||||||||
The following table provides a balance sheet overview of our derivative assets and liabilities at the dates indicated: | |||||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||
Balance | Fair | Balance | Fair | Balance | Fair | Balance | Fair | ||||||||||||||||||||||
Sheet | Value | Sheet | Value | Sheet | Value | Sheet | Value | ||||||||||||||||||||||
Location | Location | Location | Location | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||||||||
Interest rate derivatives | Other current | $ | 16.5 | Other current | $ | 19.6 | Other current | $ | -- | Other current | $ | 175.4 | |||||||||||||||||
assets | assets | liabilities | liabilities | ||||||||||||||||||||||||||
Interest rate derivatives | Other assets | 14.9 | Other assets | 25.6 | Other liabilities | -- | Other liabilities | -- | |||||||||||||||||||||
Total interest rate derivatives | 31.4 | 45.2 | -- | 175.4 | |||||||||||||||||||||||||
Commodity derivatives | Other current | 46.6 | Other current | 45.3 | Other current | 45.8 | Other current | 35.4 | |||||||||||||||||||||
assets | assets | liabilities | liabilities | ||||||||||||||||||||||||||
Commodity derivatives | Other assets | 4.2 | Other assets | -- | Other liabilities | 1.6 | Other liabilities | 0.5 | |||||||||||||||||||||
Total commodity derivatives | 50.8 | 45.3 | 47.4 | 35.9 | |||||||||||||||||||||||||
Total derivatives designated as hedging instruments | $ | 82.2 | $ | 90.5 | $ | 47.4 | $ | 211.3 | |||||||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||||
Interest rate derivatives | Other current | $ | -- | Other current | $ | -- | Other current | $ | 10.3 | Other current | $ | 12.2 | |||||||||||||||||
assets | assets | liabilities | liabilities | ||||||||||||||||||||||||||
Interest rate derivatives | Other assets | -- | Other assets | -- | Other liabilities | -- | Other liabilities | 5 | |||||||||||||||||||||
Total interest rate derivatives | -- | -- | 10.3 | 17.2 | |||||||||||||||||||||||||
Commodity derivatives | Other current | 16.1 | Other current | 15.7 | Other current | 2.5 | Other current | 8.9 | |||||||||||||||||||||
assets | assets | liabilities | liabilities | ||||||||||||||||||||||||||
Commodity derivatives | Other assets | 2.6 | Other assets | 0.6 | Other liabilities | 2 | Other liabilities | 0.7 | |||||||||||||||||||||
Total commodity derivatives | 18.7 | 16.3 | 4.5 | 9.6 | |||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | $ | 18.7 | $ | 16.3 | $ | 14.8 | $ | 26.8 | |||||||||||||||||||||
Offsetting Financial Assets | ' | ||||||||||||||||||||||||||||
Certain of our commodity derivative instruments are subject to master netting arrangements or similar agreements. The following tables present our derivative instruments subject to such arrangements at the dates indicated: | |||||||||||||||||||||||||||||
Offsetting of Financial Assets and Derivative Assets | |||||||||||||||||||||||||||||
Gross | Gross | Amounts | Gross Amounts Not Offset | Amounts That | |||||||||||||||||||||||||
Amounts of | Amounts | of Assets | in the Balance Sheet | Would Have | |||||||||||||||||||||||||
Recognized | Offset in the | Presented | Been Presented | ||||||||||||||||||||||||||
Assets | Balance | in the | On Net Basis | ||||||||||||||||||||||||||
Sheet | Balance Sheet | Financial Instruments | Cash | Cash | |||||||||||||||||||||||||
Collateral | Collateral | ||||||||||||||||||||||||||||
Received | Paid | ||||||||||||||||||||||||||||
(i) | (ii) | (iii) =i) – (ii) | (iv) | (v) =iii) + (iv) | |||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commodity derivatives | $ | 69.5 | $ | -- | $ | 69.5 | $ | (44.9 | ) | $ | -- | $ | (16.1 | ) | $ | 8.5 | |||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||||||
Commodity derivatives | $ | 61.6 | $ | -- | $ | 61.6 | $ | (38.7 | ) | $ | (15.2 | ) | $ | -- | $ | 7.7 | |||||||||||||
Offsetting Financial Liabilities | ' | ||||||||||||||||||||||||||||
Offsetting of Financial Liabilities and Derivative Liabilities | |||||||||||||||||||||||||||||
Gross | Gross | Amounts | Gross Amounts Not Offset | Amounts That | |||||||||||||||||||||||||
Amounts of | Amounts | of Liabilities | in the Balance Sheet | Would Have | |||||||||||||||||||||||||
Recognized | Offset in the | Presented | Been Presented | ||||||||||||||||||||||||||
Liabilities | Balance Sheet | in the | On Net Basis | ||||||||||||||||||||||||||
Balance Sheet | Financial | Cash | |||||||||||||||||||||||||||
Instruments | Collateral | ||||||||||||||||||||||||||||
Paid | |||||||||||||||||||||||||||||
(i) | (ii) | (iii) =i) – (ii) | (iv) | (v) =iii) + (iv) | |||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commodity derivatives | $ | 51.9 | $ | -- | $ | 51.9 | $ | (44.9 | ) | $ | -- | $ | 7 | ||||||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||||||
Commodity derivatives | $ | 45.5 | $ | -- | $ | 45.5 | $ | (38.7 | ) | $ | (4.3 | ) | $ | 2.5 | |||||||||||||||
Derivative Instruments Effects on Statements of Operations | ' | ||||||||||||||||||||||||||||
The following tables present the effect of our derivative instruments designated as fair value hedges on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: | |||||||||||||||||||||||||||||
Derivatives in Fair Value | Gain (Loss) Recognized in | ||||||||||||||||||||||||||||
Hedging Relationships | Location | Income on Derivative | |||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | Interest expense | $ | (0.5 | ) | $ | 3 | $ | (10.6 | ) | $ | 6.1 | ||||||||||||||||||
Commodity derivatives | Revenue | (3.1 | ) | (0.4 | ) | 3.1 | (16.1 | ) | |||||||||||||||||||||
Total | $ | (3.6 | ) | $ | 2.6 | $ | (7.5 | ) | $ | (10.0 | ) | ||||||||||||||||||
Derivatives in Fair Value | Gain (Loss) Recognized in | ||||||||||||||||||||||||||||
Hedging Relationships | Location | Income on Hedged Item | |||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | Interest expense | $ | 0.4 | $ | (2.9 | ) | $ | 10.3 | $ | (6.3 | ) | ||||||||||||||||||
Commodity derivatives | Revenue | (0.4 | ) | (1.8 | ) | (12.0 | ) | 14.5 | |||||||||||||||||||||
Total | $ | -- | $ | (4.7 | ) | $ | (1.7 | ) | $ | 8.2 | |||||||||||||||||||
Derivative Instruments Effects on Statements of Comprehensive Income | ' | ||||||||||||||||||||||||||||
The following tables present the effect of our derivative instruments designated as cash flow hedges on our Unaudited Condensed Statements of Consolidated Operations and Unaudited Condensed Statements of Consolidated Comprehensive Income for the periods indicated: | |||||||||||||||||||||||||||||
Derivatives in Cash Flow | Change in Value Recognized in | ||||||||||||||||||||||||||||
Hedging Relationships | Other Comprehensive Income (Loss) | ||||||||||||||||||||||||||||
on Derivative (Effective Portion) | |||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | (20.2 | ) | $ | 6.7 | $ | (75.3 | ) | |||||||||||||||||||
Commodity derivatives – Revenue (1) | (8.6 | ) | (59.5 | ) | (22.1 | ) | 0.7 | ||||||||||||||||||||||
Commodity derivatives – Operating costs and expenses (1) | -- | 1 | -- | (13.8 | ) | ||||||||||||||||||||||||
Total | $ | (8.6 | ) | $ | (78.7 | ) | $ | (15.4 | ) | $ | (88.4 | ) | |||||||||||||||||
(1) The fair value of these derivative instruments would be reclassified to their respective locations on the Statement of Consolidated Operations upon settlement of the underlying derivative transactions, as appropriate. | |||||||||||||||||||||||||||||
Gain/(Loss) Reclassified from Accumulated Other Comprehensive Income/(Loss) to Income (Effective Portion) | ' | ||||||||||||||||||||||||||||
Derivatives in Cash Flow | Location | Gain (Loss) Reclassified from | |||||||||||||||||||||||||||
Hedging Relationships | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||||||
to Income (Effective Portion) | |||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | Interest expense | $ | (7.7 | ) | $ | (4.5 | ) | $ | (21.4 | ) | $ | (10.9 | ) | ||||||||||||||||
Commodity derivatives | Revenue | (14.6 | ) | 0.3 | (15.1 | ) | (12.3 | ) | |||||||||||||||||||||
Commodity derivatives | Operating costs and expenses | -- | (1.2 | ) | 0.4 | (24.8 | ) | ||||||||||||||||||||||
Total | $ | (22.3 | ) | $ | (5.4 | ) | $ | (36.1 | ) | $ | (48.0 | ) | |||||||||||||||||
Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion) | ' | ||||||||||||||||||||||||||||
Derivatives in Cash Flow | Location | Gain (Loss) Recognized in Income | |||||||||||||||||||||||||||
Hedging Relationships | on Derivative (Ineffective Portion) | ||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Commodity derivatives | Revenue | $ | 0.1 | $ | (1.1 | ) | $ | -- | $ | (0.2 | ) | ||||||||||||||||||
Commodity derivatives | Operating costs and expenses | -- | 0.1 | -- | 0.4 | ||||||||||||||||||||||||
Total | $ | 0.1 | $ | (1.0 | ) | $ | -- | $ | 0.2 | ||||||||||||||||||||
Gain/(Loss) Recognized in Income on Derivative | ' | ||||||||||||||||||||||||||||
The following table presents the effect of our derivative instruments not designated as hedging instruments on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: | |||||||||||||||||||||||||||||
Derivatives Not Designated | Location | Gain (Loss) Recognized in | |||||||||||||||||||||||||||
as Hedging Instruments | Income on Derivative | ||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Interest rate derivatives | Interest expense | $ | (0.5 | ) | $ | (2.2 | ) | $ | (0.6 | ) | $ | (5.5 | ) | ||||||||||||||||
Commodity derivatives | Revenue | 8.1 | (3.9 | ) | 17 | 26.2 | |||||||||||||||||||||||
Commodity derivatives | Operating costs and expenses | -- | -- | -- | (2.8 | ) | |||||||||||||||||||||||
Total | $ | 7.6 | $ | (6.1 | ) | $ | 16.4 | $ | 17.9 | ||||||||||||||||||||
Fair Value Measurements of Financial Assets and Liabilities Measured on a Recurring Basis | ' | ||||||||||||||||||||||||||||
The following tables set forth, by level within the fair value hierarchy, the carrying values of our financial assets and liabilities at December 31, 2012 and September 30, 2013. These assets and liabilities are measured on a recurring basis and are classified based on the lowest level of input used to estimate their fair value. Our assessment of the relative significance of such inputs requires judgment. | |||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||||||||||
Markets for | Other | Significant | Carrying | ||||||||||||||||||||||||||
Identical Assets | Observable | Unobservable | Value | ||||||||||||||||||||||||||
and Liabilities | Inputs | Inputs | at December 31, | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | 2012 | ||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | 45.2 | $ | -- | $ | 45.2 | |||||||||||||||||||||
Commodity derivatives | 11.4 | 47.8 | 2.4 | 61.6 | |||||||||||||||||||||||||
Total | $ | 11.4 | $ | 93 | $ | 2.4 | $ | 106.8 | |||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | 192.6 | $ | -- | $ | 192.6 | |||||||||||||||||||||
Commodity derivatives | 13.1 | 28.5 | 3.9 | 45.5 | |||||||||||||||||||||||||
Total | $ | 13.1 | $ | 221.1 | $ | 3.9 | $ | 238.1 | |||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||||||||||
Markets for | Other | Significant | Carrying | ||||||||||||||||||||||||||
Identical Assets | Observable | Unobservable | Value | ||||||||||||||||||||||||||
and Liabilities | Inputs | Inputs | at September 30, | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | 2013 | ||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | 31.4 | $ | -- | $ | 31.4 | |||||||||||||||||||||
Commodity derivatives | 34 | 33.2 | 2.3 | 69.5 | |||||||||||||||||||||||||
Total | $ | 34 | $ | 64.6 | $ | 2.3 | $ | 100.9 | |||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||
Interest rate derivatives | $ | -- | $ | 10.3 | $ | -- | $ | 10.3 | |||||||||||||||||||||
Commodity derivatives | 19.5 | 30.2 | 2.2 | 51.9 | |||||||||||||||||||||||||
Total | $ | 19.5 | $ | 40.5 | $ | 2.2 | $ | 62.2 | |||||||||||||||||||||
Reconciliation of Changes in the Fair Value of Level 3 Financial Assets and Liabilities | ' | ||||||||||||||||||||||||||||
The following table sets forth a reconciliation of changes in the fair values of our recurring Level 3 financial assets and liabilities on a combined basis for the periods indicated: | |||||||||||||||||||||||||||||
For the Nine Months | |||||||||||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||||||||||
Location | 2013 | 2012 | |||||||||||||||||||||||||||
Financial asset (liability) balance, net, January 1 | $ | (1.5 | ) | $ | 0.4 | ||||||||||||||||||||||||
Total gains (losses) included in: | |||||||||||||||||||||||||||||
Net income (1) | Revenue | (0.6 | ) | 0.5 | |||||||||||||||||||||||||
Other comprehensive income | Commodity derivative instruments – changes in fair value of cash flow hedges | -- | 0.5 | ||||||||||||||||||||||||||
Settlements | Revenue | 1.5 | (0.5 | ) | |||||||||||||||||||||||||
Financial asset (liability) balance, net, March 31 | (0.6 | ) | 0.9 | ||||||||||||||||||||||||||
Total gains (losses) included in: | |||||||||||||||||||||||||||||
Net income (1) | Revenue | (0.2 | ) | (1.3 | ) | ||||||||||||||||||||||||
Other comprehensive income | Commodity derivative instruments – changes in fair value of cash flow hedges | -- | 6 | ||||||||||||||||||||||||||
Settlements | Revenue | 0.6 | (0.7 | ) | |||||||||||||||||||||||||
Financial asset (liability) balance, net, June 30 | (0.2 | ) | 4.9 | ||||||||||||||||||||||||||
Total gains (losses) included in: | |||||||||||||||||||||||||||||
Net income (1) | Revenue | 1.1 | (0.6 | ) | |||||||||||||||||||||||||
Other comprehensive income | Commodity derivative instruments – changes in fair value of cash flow hedges | (0.9 | ) | 3.5 | |||||||||||||||||||||||||
Settlements | Revenue | 0.1 | 1.4 | ||||||||||||||||||||||||||
Financial asset (liability) balance, net, September 30 (2) | $ | 0.1 | $ | 9.2 | |||||||||||||||||||||||||
(1) There were unrealized gains of $1.1 million and $2.4 million included in these amounts for the three and nine months ended September 30, 2013, respectively. There were $0.8 million of unrealized gains and $1.1 million of unrealized losses included in these amounts for the three and nine months ended September 30, 2012, respectively. | |||||||||||||||||||||||||||||
(2) There were no transfers into or out of Level 3 during the three or nine months ended September 30, 2013. | |||||||||||||||||||||||||||||
Fair Value Measurements, Valuation Techniques | ' | ||||||||||||||||||||||||||||
The following table provides quantitative information about our recurring Level 3 fair value measurements at September 30, 2013: | |||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||
Financial | Financial | Valuation | Unobservable | Range | |||||||||||||||||||||||||
Assets | Liabilities | Techniques | Input | ||||||||||||||||||||||||||
Commodity derivatives: | |||||||||||||||||||||||||||||
Crude oil | $ | 1.4 | $ | 0.2 | Discounted cash flow | Forward commodity prices | $91.87-$103.07/barrel | ||||||||||||||||||||||
Propane | 0.1 | -- | Discounted cash flow | Forward commodity prices | $0.97-$1.07/gallon | ||||||||||||||||||||||||
Normal butane | -- | 0.1 | Discounted cash flow | Forward commodity prices | $1.26-$1.38/gallon | ||||||||||||||||||||||||
Natural gasoline | 0.6 | 1.4 | Discounted cash flow | Forward commodity prices | $1.92-$2.07/gallon | ||||||||||||||||||||||||
Natural gas | 0.2 | 0.5 | Discounted cash flow | Forward commodity prices | $3.26-$3.99/MMBtu | ||||||||||||||||||||||||
Total | $ | 2.3 | $ | 2.2 | |||||||||||||||||||||||||
Noncash Impairment Charges By Segment | ' | ||||||||||||||||||||||||||||
The following table summarizes our non-cash asset impairment charges by segment during each of the periods indicated: | |||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
NGL Pipelines & Services | $ | 0.3 | $ | 8.3 | $ | 10 | $ | 16.3 | |||||||||||||||||||||
Onshore Natural Gas Pipelines & Services | -- | 29.2 | -- | 29.2 | |||||||||||||||||||||||||
Onshore Crude Oil Pipelines & Services | -- | -- | 16.6 | 6.2 | |||||||||||||||||||||||||
Offshore Pipelines & Services | 13.2 | 4 | 13.2 | 4 | |||||||||||||||||||||||||
Petrochemical & Refined Products Services | 1.7 | 1.6 | 13.5 | 1.9 | |||||||||||||||||||||||||
Total | $ | 15.2 | $ | 43.1 | $ | 53.3 | $ | 57.6 | |||||||||||||||||||||
Nonrecurring Fair Value Measurements | ' | ||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, we recorded $53.3 million of non-cash asset impairment charges primarily due to the abandonment of assets classified as property, plant and equipment. The following table summarizes our non-recurring fair value measurements for the nine months ended September 30, 2013: | |||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||||||||||
Carrying | Markets for | Other | Significant | Total | |||||||||||||||||||||||||
Value at | Identical | Observable | Unobservable | Non-Cash | |||||||||||||||||||||||||
September 30, | Assets | Inputs | Inputs | Impairment | |||||||||||||||||||||||||
2013 | (Level 1) | (Level 2) | (Level 3) | Loss | |||||||||||||||||||||||||
Impairment of long-lived assets disposed of | $ | -- | $ | -- | $ | -- | $ | -- | $ | 43.3 | |||||||||||||||||||
other than by sale (1) | |||||||||||||||||||||||||||||
Impairment of long-lived assets held and used | 6.1 | -- | -- | 6.1 | 4.2 | ||||||||||||||||||||||||
Impairment of long-lived assets to be disposed | 11.7 | 11.7 | -- | -- | 5.8 | ||||||||||||||||||||||||
of by sale | |||||||||||||||||||||||||||||
Total | $ | 53.3 | |||||||||||||||||||||||||||
(1) Our non-cash asset impairment charges for the nine months ended September 30, 2013 primarily represent the abandonment of crude oil and natural gas pipeline segments in Texas, Oklahoma and the Gulf of Mexico, certain refined products terminal assets in Texas, and an NGL storage cavern in Arizona. | |||||||||||||||||||||||||||||
During the nine months ended September 30, 2012, we recorded $57.6 million of non-cash asset impairment charges primarily due to the abandonment of assets classified as property, plant and equipment. The following table summarizes our non-recurring fair value measurements for the nine months ended September 30, 2012: | |||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||||||||||
Carrying | Markets for | Other | Significant | Total | |||||||||||||||||||||||||
Value at | Identical | Observable | Unobservable | Non-Cash | |||||||||||||||||||||||||
September 30, | Assets | Inputs | Inputs | Impairment | |||||||||||||||||||||||||
2012 | (Level 1) | (Level 2) | (Level 3) | Loss | |||||||||||||||||||||||||
Impairment of long-lived assets disposed of | $ | -- | $ | -- | $ | -- | $ | -- | $ | 50.7 | |||||||||||||||||||
other than by sale (1) | |||||||||||||||||||||||||||||
Impairment of long-lived assets held and used | 2.2 | -- | -- | 2.2 | 2.6 | ||||||||||||||||||||||||
Impairment of long-lived assets to be disposed | -- | -- | -- | -- | 4.3 | ||||||||||||||||||||||||
of by sale | |||||||||||||||||||||||||||||
Total | $ | 57.6 | |||||||||||||||||||||||||||
(1) Our non-cash asset impairment charges for the nine months ended September 30, 2012 primarily represent the abandonment of crude oil and natural gas pipeline segments in Texas and the Gulf of Mexico. | |||||||||||||||||||||||||||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Inventories [Abstract] | ' | ||||||||||||||||
Inventory Amounts by Product Type | ' | ||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
NGLs | $ | 1,085.80 | $ | 594.3 | |||||||||||||
Petrochemicals and refined products | 448.2 | 304.5 | |||||||||||||||
Crude oil | 254.8 | 119.4 | |||||||||||||||
Natural gas | 73.6 | 70.2 | |||||||||||||||
Total | $ | 1,862.40 | $ | 1,088.40 | |||||||||||||
Cost of Sales and Lower of Cost or Market Adjustments | ' | ||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of sales (1) | $ | 10,371.30 | $ | 8,794.00 | $ | 29,522.10 | $ | 26,655.00 | |||||||||
Lower of cost or market adjustments | 4.5 | 2.2 | 14.9 | 16.1 | |||||||||||||
(1) Cost of sales is a component of "Operating costs and expenses," as presented on our Unaudited Condensed Statements of Consolidated Operations. Period-to-period fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities. |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||||||||
Property, Plant and Equipment and Accumulated Depreciation | ' | ||||||||||||||||||
The historical costs of our property, plant and equipment and related accumulated depreciation balances were as follows at the dates indicated: | |||||||||||||||||||
Estimated | September 30, | December 31, | |||||||||||||||||
Useful Life | 2013 | 2012 | |||||||||||||||||
in Years | |||||||||||||||||||
Plants, pipelines and facilities (1) | 3-45 (6) | $ | 26,878.40 | $ | 25,382.40 | ||||||||||||||
Underground and other storage facilities (2) | 5-40 (7) | 1,980.50 | 1,826.30 | ||||||||||||||||
Platforms and facilities (3) | 20-31 | 659.6 | 635.2 | ||||||||||||||||
Transportation equipment (4) | 10-Mar | 133.1 | 136.2 | ||||||||||||||||
Marine vessels (5) | 15-30 | 721.5 | 695 | ||||||||||||||||
Land | 176.1 | 167.2 | |||||||||||||||||
Construction in progress | 2,705.80 | 2,113.10 | |||||||||||||||||
Total | 33,255.00 | 30,955.40 | |||||||||||||||||
Less accumulated depreciation | 6,801.10 | 6,109.00 | |||||||||||||||||
Property, plant and equipment, net | $ | 26,453.90 | $ | 24,846.40 | |||||||||||||||
(1) Plants and pipelines include processing plants; NGL, natural gas, crude oil and petrochemical and refined products pipelines; terminal loading and unloading facilities; office furniture and equipment; buildings; laboratory and shop equipment and related assets. | |||||||||||||||||||
(2) Underground and other storage facilities include underground product storage caverns; above ground storage tanks; water wells and related assets. | |||||||||||||||||||
(3) Platforms and facilities include offshore platforms and related facilities and other associated assets located in the Gulf of Mexico. | |||||||||||||||||||
(4) Transportation equipment includes tractor-trailer tank trucks and other vehicles and similar assets used in our operations. | |||||||||||||||||||
(5) Marine vessels include tow boats, barges and related equipment used in our marine transportation business. | |||||||||||||||||||
(6) In general, the estimated useful lives of major assets within this category are: processing plants, 20-35 years; pipelines and related equipment, 5-45 years; terminal facilities, 10-35 years; office furniture and equipment, 3-20 years; buildings, 20-40 years; and laboratory and shop equipment, 5-35 years. | |||||||||||||||||||
(7) In general, the estimated useful lives of assets within this category are: underground storage facilities, 5-35 years; storage tanks, 10-40 years; and water wells, 5-35 years. | |||||||||||||||||||
Depreciation Expense and Capitalized Interest | ' | ||||||||||||||||||
The following table summarizes our depreciation expense and capitalized interest amounts for the periods indicated: | |||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Depreciation expense (1) | $ | 253.4 | $ | 228.3 | $ | 749.6 | $ | 662.3 | |||||||||||
Capitalized interest (2) | 27.8 | 26.3 | 95.1 | 86.4 | |||||||||||||||
(1) Depreciation expense is a component of "Costs and expenses" as presented on our Unaudited Condensed Statements of Consolidated Operations. | |||||||||||||||||||
(2) We capitalize interest costs incurred on funds used to construct property, plant and equipment while the asset is in its construction phase. The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset's estimated useful life as a component of depreciation expense. When capitalized interest is recorded, it reduces interest expense from what it would be otherwise. | |||||||||||||||||||
AROs | ' | ||||||||||||||||||
The following table presents information regarding our asset retirement obligations ("AROs") during the nine months ended September 30, 2013: | |||||||||||||||||||
ARO liability balance, December 31, 2012 | $ | 105.2 | |||||||||||||||||
Liabilities incurred | 0.1 | ||||||||||||||||||
Liabilities settled | (10.4 | ) | |||||||||||||||||
Revisions in estimated cash flows | (2.2 | ) | |||||||||||||||||
Accretion expense | 4.6 | ||||||||||||||||||
ARO liability balance, September 30, 2013 | $ | 97.3 | |||||||||||||||||
Forecasted Accretion Expense Associated with AROs | ' | ||||||||||||||||||
The following table presents our forecast of accretion expense for the periods indicated: | |||||||||||||||||||
Remainder | 2014 | 2015 | 2016 | 2017 | |||||||||||||||
of 2013 | |||||||||||||||||||
$ | 1.5 | $ | 6.3 | $ | 6.7 | $ | 7.1 | $ | 7.7 |
Investments_in_Unconsolidated_1
Investments in Unconsolidated Affiliates (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Investments in Unconsolidated Affiliates [Abstract] | ' | ||||||||||||||||
Investments in Unconsolidated Affiliates | ' | ||||||||||||||||
The following table presents our investments in unconsolidated affiliates by business segment at the dates indicated. Unless noted otherwise, we account for these investments using the equity method. | |||||||||||||||||
Ownership | September 30, | December 31, | |||||||||||||||
Interest at | 2013 | 2012 | |||||||||||||||
September 30, | |||||||||||||||||
2013 | |||||||||||||||||
NGL Pipelines & Services: | |||||||||||||||||
Venice Energy Service Company, L.L.C. | 13.10% | $ | 28.1 | $ | 29.6 | ||||||||||||
K/D/S Promix, L.L.C. | 50% | 44.4 | 46.9 | ||||||||||||||
Baton Rouge Fractionators LLC | 32.20% | 19.3 | 20.2 | ||||||||||||||
Skelly-Belvieu Pipeline Company, L.L.C. | 50% | 40.5 | 38.2 | ||||||||||||||
Texas Express Pipeline LLC (1) | 35% | 328.5 | 144.4 | ||||||||||||||
Texas Express Gathering LLC (1) | 45% | 34.6 | 20.9 | ||||||||||||||
Front Range Pipeline LLC | 33.30% | 111.8 | 24.4 | ||||||||||||||
Onshore Natural Gas Pipelines & Services: | |||||||||||||||||
White River Hub, LLC | 50% | 24.3 | 24.9 | ||||||||||||||
Onshore Crude Oil Pipelines & Services: | |||||||||||||||||
Seaway Crude Pipeline Company LLC | 50% | 677.2 | 341.4 | ||||||||||||||
Eagle Ford Pipeline LLC (2) | 50% | 212.4 | 152.4 | ||||||||||||||
Offshore Pipelines & Services: | |||||||||||||||||
Poseidon Oil Pipeline Company, L.L.C. ("Poseidon") | 36% | 43.4 | 47.3 | ||||||||||||||
Cameron Highway Oil Pipeline Company | 50% | 209.9 | 220 | ||||||||||||||
Deepwater Gateway, L.L.C. | 50% | 86.2 | 90 | ||||||||||||||
Neptune Pipeline Company, L.L.C. | 25.70% | 43.7 | 46.8 | ||||||||||||||
Southeast Keathley Canyon Pipeline Company L.L.C. | 50% | 157.2 | 74.9 | ||||||||||||||
Petrochemical & Refined Products Services: | |||||||||||||||||
Baton Rouge Propylene Concentrator, LLC | 30% | 7.8 | 8.5 | ||||||||||||||
Centennial Pipeline LLC ("Centennial") | 50% | 62.3 | 60.8 | ||||||||||||||
Other (3) | Various | 2.9 | 3 | ||||||||||||||
Total | $ | 2,134.50 | $ | 1,394.60 | |||||||||||||
(1) Planned principal operations commenced in November 2013. | |||||||||||||||||
(2) Planned principal operations commenced in July 2013. | |||||||||||||||||
(3) Other unconsolidated affiliates include a 50% interest in a propylene pipeline extending from Mont Belvieu, Texas to La Porte, Texas and a 25% interest in a company that provides logistics communications solutions between petroleum pipelines and their customers. | |||||||||||||||||
The following table presents our equity in income (loss) of unconsolidated affiliates by business segment for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
NGL Pipelines & Services | $ | 4.1 | $ | 3 | $ | 11.8 | $ | 12 | |||||||||
Onshore Natural Gas Pipelines & Services | 1 | 0.9 | 2.9 | 3.5 | |||||||||||||
Onshore Crude Oil Pipelines & Services | 34.3 | 16.5 | 101 | 20.6 | |||||||||||||
Offshore Pipelines & Services | 9.8 | 6.8 | 24.9 | 17.8 | |||||||||||||
Petrochemical & Refined Products Services | (5.2 | ) | (6.2 | ) | (14.5 | ) | (14.1 | ) | |||||||||
Other Investments | -- | -- | -- | 2.4 | |||||||||||||
Total | $ | 44 | $ | 21 | $ | 126.1 | $ | 42.2 | |||||||||
The following table presents our unamortized excess cost amounts by business segment at the dates indicated: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
NGL Pipelines & Services | $ | 28 | $ | 28.9 | |||||||||||||
Onshore Crude Oil Pipelines & Services | 18 | 18.5 | |||||||||||||||
Offshore Pipelines & Services | 12.6 | 13.6 | |||||||||||||||
Petrochemical & Refined Products Services | 2.6 | 2.7 | |||||||||||||||
Total | $ | 61.2 | $ | 63.7 | |||||||||||||
The following table presents our amortization of excess cost amounts by business segment for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
NGL Pipelines & Services | $ | 0.3 | $ | 0.2 | $ | 0.9 | $ | 0.7 | |||||||||
Onshore Crude Oil Pipelines & Services | 0.1 | 0.2 | 0.5 | 0.5 | |||||||||||||
Offshore Pipelines & Services | 0.3 | 0.3 | 1 | 0.9 | |||||||||||||
Petrochemical & Refined Products Services | 0.1 | -- | 0.1 | 0.1 | |||||||||||||
Other Investments | -- | -- | -- | 0.3 | |||||||||||||
Total | $ | 0.8 | $ | 0.7 | $ | 2.5 | $ | 2.5 |
Intangible_Assets_and_Goodwill1
Intangible Assets and Goodwill (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Intangible Assets and Goodwill [Abstract] | ' | ||||||||||||||||||||||||
Intangible Assets by Segment | ' | ||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||
Gross | Accumulated | Carrying | Gross | Accumulated | Carrying | ||||||||||||||||||||
Value | Amortization | Value | Value | Amortization | Value | ||||||||||||||||||||
NGL Pipelines & Services: | |||||||||||||||||||||||||
Customer relationship intangibles | $ | 340.8 | $ | (161.3 | ) | $ | 179.5 | $ | 340.8 | $ | (147.6 | ) | $ | 193.2 | |||||||||||
Contract-based intangibles | 281.3 | (166.9 | ) | 114.4 | 284.6 | (157.2 | ) | 127.4 | |||||||||||||||||
Segment total | 622.1 | (328.2 | ) | 293.9 | 625.4 | (304.8 | ) | 320.6 | |||||||||||||||||
Onshore Natural Gas Pipelines & Services: | |||||||||||||||||||||||||
Customer relationship intangibles | 1,163.60 | (273.8 | ) | 889.8 | 1,163.60 | (250.0 | ) | 913.6 | |||||||||||||||||
Contract-based intangibles | 466.1 | (326.0 | ) | 140.1 | 466.1 | (311.8 | ) | 154.3 | |||||||||||||||||
Segment total | 1,629.70 | (599.8 | ) | 1,029.90 | 1,629.70 | (561.8 | ) | 1,067.90 | |||||||||||||||||
Onshore Crude Oil Pipelines & Services: | |||||||||||||||||||||||||
Customer relationship intangibles | 10.7 | (5.9 | ) | 4.8 | 10.7 | (4.9 | ) | 5.8 | |||||||||||||||||
Contract-based intangibles | 0.4 | (0.3 | ) | 0.1 | 0.4 | (0.3 | ) | 0.1 | |||||||||||||||||
Segment total | 11.1 | (6.2 | ) | 4.9 | 11.1 | (5.2 | ) | 5.9 | |||||||||||||||||
Offshore Pipelines & Services: | |||||||||||||||||||||||||
Customer relationship intangibles | 203.9 | (147.3 | ) | 56.6 | 203.9 | (138.5 | ) | 65.4 | |||||||||||||||||
Contract-based intangibles | 1.2 | (0.4 | ) | 0.8 | 1.2 | (0.4 | ) | 0.8 | |||||||||||||||||
Segment total | 205.1 | (147.7 | ) | 57.4 | 205.1 | (138.9 | ) | 66.2 | |||||||||||||||||
Petrochemical & Refined Products Services: | |||||||||||||||||||||||||
Customer relationship intangibles | 104.3 | (37.1 | ) | 67.2 | 104.3 | (33.4 | ) | 70.9 | |||||||||||||||||
Contract-based intangibles | 39.9 | (5.6 | ) | 34.3 | 41.2 | (5.9 | ) | 35.3 | |||||||||||||||||
Segment total | 144.2 | (42.7 | ) | 101.5 | 145.5 | (39.3 | ) | 106.2 | |||||||||||||||||
Total all segments | $ | 2,612.20 | $ | (1,124.6 | ) | $ | 1,487.60 | $ | 2,616.80 | $ | (1,050.0 | ) | $ | 1,566.80 | |||||||||||
Amortization Expense of Intangible Assets by Segment | ' | ||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
NGL Pipelines & Services | $ | 8.6 | $ | 10.1 | $ | 27.7 | $ | 29.9 | |||||||||||||||||
Onshore Natural Gas Pipelines & Services | 13.3 | 16.8 | 38 | 48.4 | |||||||||||||||||||||
Onshore Crude Oil Pipelines & Services | 0.3 | 0.2 | 1 | 0.5 | |||||||||||||||||||||
Offshore Pipelines & Services | 2.9 | 3.1 | 8.8 | 8.3 | |||||||||||||||||||||
Petrochemical & Refined Products Services | 1.5 | 2.1 | 4.7 | 8.8 | |||||||||||||||||||||
Total | $ | 26.6 | $ | 32.3 | $ | 80.2 | $ | 95.9 | |||||||||||||||||
Forecasted Amortization Expense | ' | ||||||||||||||||||||||||
Remainder | 2014 | 2015 | 2016 | 2017 | |||||||||||||||||||||
of 2013 | |||||||||||||||||||||||||
$ | 25.5 | $ | 96.3 | $ | 90.4 | $ | 92.1 | $ | 96.1 | ||||||||||||||||
Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||||||||||
NGL | Onshore | Onshore | Offshore | Petrochemical | Consolidated | ||||||||||||||||||||
Pipelines | Natural Gas | Crude Oil | Pipelines | & Refined | Total | ||||||||||||||||||||
& Services | Pipelines | Pipelines | & Services | Products | |||||||||||||||||||||
& Services | & Services | Services | |||||||||||||||||||||||
Balance at December 31, 2012 (1) | $ | 341.2 | $ | 296.3 | $ | 311.2 | $ | 82.1 | $ | 1,056.00 | $ | 2,086.80 | |||||||||||||
Goodwill related to the sale of assets | -- | -- | (6.1 | ) | -- | (0.7 | ) | (6.8 | ) | ||||||||||||||||
Balance at September 30, 2013 (1) | $ | 341.2 | $ | 296.3 | $ | 305.1 | $ | 82.1 | $ | 1,055.30 | $ | 2,080.00 | |||||||||||||
(1) The total carrying amount of goodwill at September 30, 2013 and December 31, 2012 is net of $1.3 million of accumulated impairment charges. No goodwill impairment charges were recorded during the nine months ended September 30, 2013. |
Debt_Obligations_Tables
Debt Obligations (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Debt Obligations [Abstract] | ' | ||||||||||||||||||||||||||||
Consolidated Debt Obligations | ' | ||||||||||||||||||||||||||||
The following table presents our consolidated debt obligations (arranged by company and maturity date) at the dates indicated: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
EPO senior debt obligations: | |||||||||||||||||||||||||||||
Commercial Paper Notes, fixed-rates (1) | $ | 550 | $ | 346.6 | |||||||||||||||||||||||||
Senior Notes C, 6.375% fixed-rate, due February 2013 | -- | 350 | |||||||||||||||||||||||||||
Senior Notes T, 6.125% fixed-rate, due February 2013 | -- | 182.5 | |||||||||||||||||||||||||||
Senior Notes M, 5.65% fixed-rate, due April 2013 | -- | 400 | |||||||||||||||||||||||||||
Senior Notes U, 5.90% fixed-rate, due April 2013 | -- | 237.6 | |||||||||||||||||||||||||||
Senior Notes O, 9.75% fixed-rate, due January 2014 | 500 | 500 | |||||||||||||||||||||||||||
364-Day Credit Agreement, variable-rate, due June 2014 | -- | -- | |||||||||||||||||||||||||||
Senior Notes G, 5.60% fixed-rate, due October 2014 | 650 | 650 | |||||||||||||||||||||||||||
Senior Notes I, 5.00% fixed-rate, due March 2015 | 250 | 250 | |||||||||||||||||||||||||||
Senior Notes X, 3.70% fixed-rate, due June 2015 | 400 | 400 | |||||||||||||||||||||||||||
Senior Notes FF, 1.25% fixed-rate, due August 2015 | 650 | 650 | |||||||||||||||||||||||||||
Senior Notes AA, 3.20% fixed-rate, due February 2016 | 750 | 750 | |||||||||||||||||||||||||||
Senior Notes L, 6.30% fixed-rate, due September 2017 | 800 | 800 | |||||||||||||||||||||||||||
Senior Notes V, 6.65% fixed-rate, due April 2018 | 349.7 | 349.7 | |||||||||||||||||||||||||||
$3.5 Billion Multi-Year Revolving Credit Facility, variable-rate, due June 2018 | 100 | -- | |||||||||||||||||||||||||||
Senior Notes N, 6.50% fixed-rate, due January 2019 | 700 | 700 | |||||||||||||||||||||||||||
Senior Notes Q, 5.25% fixed-rate, due January 2020 | 500 | 500 | |||||||||||||||||||||||||||
Senior Notes Y, 5.20% fixed-rate, due September 2020 | 1,000.00 | 1,000.00 | |||||||||||||||||||||||||||
Senior Notes CC, 4.05% fixed-rate, due February 2022 | 650 | 650 | |||||||||||||||||||||||||||
Senior Notes HH, 3.35% fixed-rate, due March 2023 | 1,250.00 | -- | |||||||||||||||||||||||||||
Senior Notes D, 6.875% fixed-rate, due March 2033 | 500 | 500 | |||||||||||||||||||||||||||
Senior Notes H, 6.65% fixed-rate, due October 2034 | 350 | 350 | |||||||||||||||||||||||||||
Senior Notes J, 5.75% fixed-rate, due March 2035 | 250 | 250 | |||||||||||||||||||||||||||
Senior Notes W, 7.55% fixed-rate, due April 2038 | 399.6 | 399.6 | |||||||||||||||||||||||||||
Senior Notes R, 6.125% fixed-rate, due October 2039 | 600 | 600 | |||||||||||||||||||||||||||
Senior Notes Z, 6.45% fixed-rate, due September 2040 | 600 | 600 | |||||||||||||||||||||||||||
Senior Notes BB, 5.95% fixed-rate, due February 2041 | 750 | 750 | |||||||||||||||||||||||||||
Senior Notes DD, 5.70% fixed-rate, due February 2042 | 600 | 600 | |||||||||||||||||||||||||||
Senior Notes EE, 4.85% fixed-rate, due August 2042 | 750 | 750 | |||||||||||||||||||||||||||
Senior Notes GG, 4.45% fixed-rate, due February 2043 | 1,100.00 | 1,100.00 | |||||||||||||||||||||||||||
Senior Notes II, 4.85% fixed-rate, due March 2044 | 1,000.00 | -- | |||||||||||||||||||||||||||
TEPPCO senior debt obligations: | |||||||||||||||||||||||||||||
TEPPCO Senior Notes, 6.125% fixed-rate, due February 2013 | -- | 17.5 | |||||||||||||||||||||||||||
TEPPCO Senior Notes, 5.90% fixed-rate, due April 2013 | -- | 12.4 | |||||||||||||||||||||||||||
TEPPCO Senior Notes, 6.65% fixed-rate, due April 2018 | 0.3 | 0.3 | |||||||||||||||||||||||||||
TEPPCO Senior Notes, 7.55% fixed-rate, due April 2038 | 0.4 | 0.4 | |||||||||||||||||||||||||||
Total principal amount of senior debt obligations | 16,000.00 | 14,646.60 | |||||||||||||||||||||||||||
EPO Junior Subordinated Notes A, fixed/variable-rate, due August 2066 | 550 | 550 | |||||||||||||||||||||||||||
EPO Junior Subordinated Notes C, fixed/variable-rate, due June 2067 | 285.8 | 285.8 | |||||||||||||||||||||||||||
EPO Junior Subordinated Notes B, fixed/variable-rate, due January 2068 | 682.7 | 682.7 | |||||||||||||||||||||||||||
TEPPCO Junior Subordinated Notes, fixed/variable-rate, due June 2067 | 14.2 | 14.2 | |||||||||||||||||||||||||||
Total principal amount of senior and junior debt obligations | 17,532.70 | 16,179.30 | |||||||||||||||||||||||||||
Other, non-principal amounts: | |||||||||||||||||||||||||||||
Change in fair value of debt hedged in fair value hedging relationship (2) | 28.9 | 39.3 | |||||||||||||||||||||||||||
Unamortized discounts, net of premiums | (41.9 | ) | (38.0 | ) | |||||||||||||||||||||||||
Other | 11.8 | 21.2 | |||||||||||||||||||||||||||
Total other, non-principal amounts | (1.2 | ) | 22.5 | ||||||||||||||||||||||||||
Less current maturities of debt (3) | (1,049.9 | ) | (1,546.6 | ) | |||||||||||||||||||||||||
Total long-term debt | $ | 16,481.60 | $ | 14,655.20 | |||||||||||||||||||||||||
(1) Principal amounts outstanding at September 30, 2013 have fixed-rates ranging from 0.26% and 0.29% and are due in October 2013. | |||||||||||||||||||||||||||||
(2) See Note 4 for information regarding our interest rate hedging activities. | |||||||||||||||||||||||||||||
(3) We expect to refinance the current maturities of our debt obligations at or prior to their maturity. | |||||||||||||||||||||||||||||
Consolidated Debt Maturities | ' | ||||||||||||||||||||||||||||
The following table presents contractually scheduled maturities of our consolidated debt obligations at September 30, 2013 for the periods indicated: | |||||||||||||||||||||||||||||
Scheduled Maturities of Debt | |||||||||||||||||||||||||||||
Total | Remainder | 2014 | 2015 | 2016 | 2017 | After | |||||||||||||||||||||||
of 2013 | 2017 | ||||||||||||||||||||||||||||
Commercial Paper Notes | $ | 550 | $ | 550 | $ | -- | $ | -- | $ | -- | $ | -- | $ | -- | |||||||||||||||
Multi-Year Revolving Credit Facility | 100 | -- | -- | -- | -- | -- | 100 | ||||||||||||||||||||||
Senior Notes | 15,350.00 | -- | 1,150.00 | 1,300.00 | 750 | 800 | 11,350.00 | ||||||||||||||||||||||
Junior Subordinated Notes | 1,532.70 | -- | -- | -- | -- | -- | 1,532.70 | ||||||||||||||||||||||
Total | $ | 17,532.70 | $ | 550 | $ | 1,150.00 | $ | 1,300.00 | $ | 750 | $ | 800 | $ | 12,982.70 | |||||||||||||||
Interest Rates and Weighted-Average Interest Rates Paid on Consolidated Variable-Rate Debt Obligations | ' | ||||||||||||||||||||||||||||
The following table presents the range of interest rates and weighted-average interest rates paid on our consolidated variable-rate debt during the nine months ended September 30, 2013: | |||||||||||||||||||||||||||||
Range of | Weighted-Average | ||||||||||||||||||||||||||||
Interest Rates | Interest Rate | ||||||||||||||||||||||||||||
Paid | Paid | ||||||||||||||||||||||||||||
EPO $3.5 Billion Multi-Year Revolving Credit Facility | 1.15% to 1.51% | 1.31% |
Equity_and_Distributions_Table
Equity and Distributions (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity and Distributions [Abstract] | ' | ||||||||||||
Summary of Changes in Outstanding Units | ' | ||||||||||||
Partners' equity reflects the various classes of limited partner interests (i.e., common units, including restricted common units, and Class B units) that we have outstanding. The following table summarizes changes in the number of our common units outstanding during the nine months ended September 30, 2013: | |||||||||||||
Common | Restricted | Total | |||||||||||
Units | Common | Common | |||||||||||
(Unrestricted) | Units | Units | |||||||||||
Number of units outstanding at December 31, 2012 | 894,919,851 | 3,893,486 | 898,813,337 | ||||||||||
Common units issued in connection with underwritten offering | 9,200,000 | -- | 9,200,000 | ||||||||||
Common units issued in connection with our at-the-market program | 7,284,807 | -- | 7,284,807 | ||||||||||
Common units issued in connection with our DRIP and EUPP | 3,760,154 | -- | 3,760,154 | ||||||||||
Common units issued in connection with the vesting of unit options | 200,882 | -- | 200,882 | ||||||||||
Common units issued in connection with the vesting of restricted | 1,846,198 | (1,846,198 | ) | -- | |||||||||
common unit awards | |||||||||||||
Conversion and reclassification of Class B units to common units | 4,520,431 | -- | 4,520,431 | ||||||||||
Restricted common unit awards issued | -- | 1,769,076 | 1,769,076 | ||||||||||
Forfeiture of restricted common unit awards | -- | (159,832 | ) | (159,832 | ) | ||||||||
Acquisition and cancellation of treasury units in connection with the | (618,317 | ) | -- | (618,317 | ) | ||||||||
vesting of equity-based awards | |||||||||||||
Number of units outstanding at September 30, 2013 | 921,114,006 | 3,656,532 | 924,770,538 | ||||||||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||
The following table presents reclassifications out of accumulated other comprehensive loss into net income during the periods indicated: | |||||||||||||
For the Three | For the Nine | ||||||||||||
Location | Months Ended | Months Ended | |||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2013 | ||||||||||||
Losses (gains) on cash flow hedges: | |||||||||||||
Interest rate derivatives | Interest expense | $ | 7.7 | $ | 21.4 | ||||||||
Commodity derivatives | Revenue | 14.6 | 15.1 | ||||||||||
Commodity derivatives | Operating costs and expenses | -- | (0.4 | ) | |||||||||
Total | $ | 22.3 | $ | 36.1 | |||||||||
Declared Quarterly Cash Distribution Rates | ' | ||||||||||||
The following table presents our declared quarterly cash distribution rates per common unit with respect to the quarters indicated: | |||||||||||||
Distribution Per | Record | Payment | |||||||||||
Common Unit | Date | Date | |||||||||||
2013 | |||||||||||||
1st Quarter | $ | 0.67 | 4/30/13 | 5/7/13 | |||||||||
2nd Quarter | $ | 0.68 | 7/31/13 | 8/7/13 | |||||||||
3rd Quarter | $ | 0.69 | 10/31/13 | 11/7/13 |
Business_Segments_Tables
Business Segments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Business Segments [Abstract] | ' | ||||||||||||||||||||||||||||||||
Measurement of Total Segment Gross Operating Margin | ' | ||||||||||||||||||||||||||||||||
The following table presents our measurement of total segment gross operating margin for the periods indicated: | |||||||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Revenues | $ | 12,093.30 | $ | 10,468.70 | $ | 34,625.70 | $ | 31,511.00 | |||||||||||||||||||||||||
Less: Operating costs and expenses | (11,273.5 | ) | (9,659.8 | ) | (32,061.1 | ) | (29,136.5 | ) | |||||||||||||||||||||||||
Add: Equity in income of unconsolidated affiliates | 44 | 21 | 126.1 | 42.2 | |||||||||||||||||||||||||||||
Amounts included in operating costs and expenses: | |||||||||||||||||||||||||||||||||
Depreciation, amortization and accretion | 285.2 | 269.2 | 851.7 | 785.1 | |||||||||||||||||||||||||||||
Non-cash asset impairment charges | 15.2 | 43.1 | 53.3 | 57.6 | |||||||||||||||||||||||||||||
Gains attributable to asset sales and insurance recoveries | (10.2 | ) | (2.6 | ) | (68.4 | ) | (34.1 | ) | |||||||||||||||||||||||||
Total segment gross operating margin | $ | 1,154.00 | $ | 1,139.60 | $ | 3,527.30 | $ | 3,225.30 | |||||||||||||||||||||||||
Reconciliation of Total Segment Gross Operating Margin to Operating Income and Income Before Provision for Income Taxes | ' | ||||||||||||||||||||||||||||||||
The following table presents a reconciliation of total segment gross operating margin to operating income and further to income before income taxes for the periods indicated: | |||||||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Total segment gross operating margin | $ | 1,154.00 | $ | 1,139.60 | $ | 3,527.30 | $ | 3,225.30 | |||||||||||||||||||||||||
Adjustments to reconcile total segment gross operating margin to operating income: | |||||||||||||||||||||||||||||||||
Amounts included in operating costs and expenses: | |||||||||||||||||||||||||||||||||
Depreciation, amortization and accretion | (285.2 | ) | (269.2 | ) | (851.7 | ) | (785.1 | ) | |||||||||||||||||||||||||
Non-cash asset impairment charges | (15.2 | ) | (43.1 | ) | (53.3 | ) | (57.6 | ) | |||||||||||||||||||||||||
Gains attributable to asset sales and insurance recoveries | 10.2 | 2.6 | 68.4 | 34.1 | |||||||||||||||||||||||||||||
General and administrative costs | (43.9 | ) | (41.4 | ) | (138.9 | ) | (130.2 | ) | |||||||||||||||||||||||||
Operating income | 819.9 | 788.5 | 2,551.80 | 2,286.50 | |||||||||||||||||||||||||||||
Other expense, net | (207.7 | ) | (198.2 | ) | (604.2 | ) | (499.4 | ) | |||||||||||||||||||||||||
Income before income taxes | $ | 612.2 | $ | 590.3 | $ | 1,947.60 | $ | 1,787.10 | |||||||||||||||||||||||||
Information by Business Segments | ' | ||||||||||||||||||||||||||||||||
Information by business segment, together with reconciliations to our consolidated financial statement totals, is presented in the following table: | |||||||||||||||||||||||||||||||||
Reportable Business Segments | |||||||||||||||||||||||||||||||||
NGL | Onshore | Onshore | Offshore | Petrochemical | Other | Adjustments | Consolidated | ||||||||||||||||||||||||||
Pipelines | Natural Gas | Crude Oil | Pipelines | & Refined | Investments | and | Total | ||||||||||||||||||||||||||
& Services | Pipelines | Pipelines | & Services | Products | Eliminations | ||||||||||||||||||||||||||||
& Services | & Services | Services | |||||||||||||||||||||||||||||||
Revenues from third parties: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | $ | 4,230.60 | $ | 831.4 | $ | 5,435.40 | $ | 38.2 | $ | 1,550.00 | $ | -- | $ | -- | $ | 12,085.60 | |||||||||||||||||
Three months ended September 30, 2012 | 3,389.60 | 843.3 | 4,505.10 | 43.2 | 1,680.00 | -- | -- | 10,461.20 | |||||||||||||||||||||||||
Nine months ended September 30, 2013 | 11,686.00 | 2,658.60 | 15,358.10 | 118 | 4,784.70 | -- | -- | 34,605.40 | |||||||||||||||||||||||||
Nine months ended September 30, 2012 | 11,071.60 | 2,349.10 | 13,167.40 | 145.1 | 4,713.90 | -- | -- | 31,447.10 | |||||||||||||||||||||||||
Revenues from related parties: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 0.1 | 4.1 | 2.1 | 1.4 | -- | -- | -- | 7.7 | |||||||||||||||||||||||||
Three months ended September 30, 2012 | 2.2 | 3.2 | 0.1 | 2 | -- | -- | -- | 7.5 | |||||||||||||||||||||||||
Nine months ended September 30, 2013 | 0.6 | 12.1 | 2.1 | 5.5 | -- | -- | -- | 20.3 | |||||||||||||||||||||||||
Nine months ended September 30, 2012 | 7.2 | 51.4 | 0.1 | 5.2 | -- | -- | -- | 63.9 | |||||||||||||||||||||||||
Intersegment and intrasegment | |||||||||||||||||||||||||||||||||
revenues: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 2,542.30 | 215.6 | 3,591.30 | 1.8 | 384.4 | -- | (6,735.4 | ) | -- | ||||||||||||||||||||||||
Three months ended September 30, 2012 | 2,301.60 | 211.4 | 1,509.20 | -- | 478.8 | -- | (4,501.0 | ) | -- | ||||||||||||||||||||||||
Nine months ended September 30, 2013 | 7,631.70 | 726.7 | 8,333.00 | 8 | 1,200.70 | -- | (17,900.1 | ) | -- | ||||||||||||||||||||||||
Nine months ended September 30, 2012 | 7,396.30 | 614.1 | 4,975.60 | 5 | 1,357.40 | -- | (14,348.4 | ) | -- | ||||||||||||||||||||||||
Total revenues: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 6,773.00 | 1,051.10 | 9,028.80 | 41.4 | 1,934.40 | -- | (6,735.4 | ) | 12,093.30 | ||||||||||||||||||||||||
Three months ended September 30, 2012 | 5,693.40 | 1,057.90 | 6,014.40 | 45.2 | 2,158.80 | -- | (4,501.0 | ) | 10,468.70 | ||||||||||||||||||||||||
Nine months ended September 30, 2013 | 19,318.30 | 3,397.40 | 23,693.20 | 131.5 | 5,985.40 | -- | (17,900.1 | ) | 34,625.70 | ||||||||||||||||||||||||
Nine months ended September 30, 2012 | 18,475.10 | 3,014.60 | 18,143.10 | 155.3 | 6,071.30 | -- | (14,348.4 | ) | 31,511.00 | ||||||||||||||||||||||||
Equity in income (loss) of unconsolidated affiliates: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 4.1 | 1 | 34.3 | 9.8 | (5.2 | ) | -- | -- | 44 | ||||||||||||||||||||||||
Three months ended September 30, 2012 | 3 | 0.9 | 16.5 | 6.8 | (6.2 | ) | -- | -- | 21 | ||||||||||||||||||||||||
Nine months ended September 30, 2013 | 11.8 | 2.9 | 101 | 24.9 | (14.5 | ) | -- | -- | 126.1 | ||||||||||||||||||||||||
Nine months ended September 30, 2012 | 12 | 3.5 | 20.6 | 17.8 | (14.1 | ) | 2.4 | -- | 42.2 | ||||||||||||||||||||||||
Gross operating margin: | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | 639.6 | 213.4 | 146 | 37.9 | 117.1 | -- | -- | 1,154.00 | |||||||||||||||||||||||||
Three months ended September 30, 2012 | 615.8 | 183.5 | 117.6 | 40.6 | 182.1 | -- | -- | 1,139.60 | |||||||||||||||||||||||||
Nine months ended September 30, 2013 | 1,777.00 | 601.9 | 579.6 | 118.1 | 450.7 | -- | -- | 3,527.30 | |||||||||||||||||||||||||
Nine months ended September 30, 2012 | 1,836.50 | 565.5 | 252.7 | 131 | 437.2 | 2.4 | -- | 3,225.30 | |||||||||||||||||||||||||
Property, plant and equipment, net: (see Note 6) | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 9,529.00 | 8,892.50 | 1,455.00 | 1,244.50 | 2,627.10 | -- | 2,705.80 | 26,453.90 | |||||||||||||||||||||||||
At December 31, 2012 | 8,494.80 | 8,950.10 | 1,385.90 | 1,343.00 | 2,559.50 | -- | 2,113.10 | 24,846.40 | |||||||||||||||||||||||||
Investments in unconsolidated affiliates: (see Note 7) | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 607.2 | 24.3 | 889.6 | 540.4 | 73 | -- | -- | 2,134.50 | |||||||||||||||||||||||||
At December 31, 2012 | 324.6 | 24.9 | 493.8 | 479 | 72.3 | -- | -- | 1,394.60 | |||||||||||||||||||||||||
Intangible assets, net: (see Note 8) | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 293.9 | 1,029.90 | 4.9 | 57.4 | 101.5 | -- | -- | 1,487.60 | |||||||||||||||||||||||||
At December 31, 2012 | 320.6 | 1,067.90 | 5.9 | 66.2 | 106.2 | -- | -- | 1,566.80 | |||||||||||||||||||||||||
Goodwill: (see Note 8) | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 341.2 | 296.3 | 305.1 | 82.1 | 1,055.30 | -- | -- | 2,080.00 | |||||||||||||||||||||||||
At December 31, 2012 | 341.2 | 296.3 | 311.2 | 82.1 | 1,056.00 | -- | -- | 2,086.80 | |||||||||||||||||||||||||
Segment assets: | |||||||||||||||||||||||||||||||||
At September 30, 2013 | 10,771.30 | 10,243.00 | 2,654.60 | 1,924.40 | 3,856.90 | -- | 2,705.80 | 32,156.00 | |||||||||||||||||||||||||
At December 31, 2012 | 9,481.20 | 10,339.20 | 2,196.80 | 1,970.30 | 3,794.00 | -- | 2,113.10 | 29,894.60 | |||||||||||||||||||||||||
Consolidated Revenues and Expenses | ' | ||||||||||||||||||||||||||||||||
The following table presents additional information regarding our consolidated revenues and costs and expenses for the periods indicated: | |||||||||||||||||||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
NGL Pipelines & Services: | |||||||||||||||||||||||||||||||||
Sales of NGLs and related products | $ | 3,929.80 | $ | 3,151.90 | $ | 10,831.30 | $ | 10,401.10 | |||||||||||||||||||||||||
Midstream asset services | 300.9 | 239.9 | 855.3 | 677.7 | |||||||||||||||||||||||||||||
Total | 4,230.70 | 3,391.80 | 11,686.60 | 11,078.80 | |||||||||||||||||||||||||||||
Onshore Natural Gas Pipelines & Services: | |||||||||||||||||||||||||||||||||
Sales of natural gas | 590.7 | 608.2 | 1,954.10 | 1,691.60 | |||||||||||||||||||||||||||||
Midstream asset services | 244.8 | 238.3 | 716.6 | 708.9 | |||||||||||||||||||||||||||||
Total | 835.5 | 846.5 | 2,670.70 | 2,400.50 | |||||||||||||||||||||||||||||
Onshore Crude Oil Pipelines & Services: | |||||||||||||||||||||||||||||||||
Sales of crude oil | 5,359.70 | 4,471.80 | 15,159.90 | 13,093.40 | |||||||||||||||||||||||||||||
Midstream asset services | 77.8 | 33.4 | 200.3 | 74.1 | |||||||||||||||||||||||||||||
Total | 5,437.50 | 4,505.20 | 15,360.20 | 13,167.50 | |||||||||||||||||||||||||||||
Offshore Pipelines & Services: | |||||||||||||||||||||||||||||||||
Sales of natural gas | 0.1 | 0.2 | 0.3 | 0.3 | |||||||||||||||||||||||||||||
Sales of crude oil | 1.5 | 3.1 | 3.7 | 4.5 | |||||||||||||||||||||||||||||
Midstream asset services | 38 | 41.9 | 119.5 | 145.5 | |||||||||||||||||||||||||||||
Total | 39.6 | 45.2 | 123.5 | 150.3 | |||||||||||||||||||||||||||||
Petrochemical & Refined Products Services: | |||||||||||||||||||||||||||||||||
Sales of petrochemicals and refined products | 1,390.10 | 1,498.90 | 4,271.50 | 4,166.90 | |||||||||||||||||||||||||||||
Midstream asset services | 159.9 | 181.1 | 513.2 | 547 | |||||||||||||||||||||||||||||
Total | 1,550.00 | 1,680.00 | 4,784.70 | 4,713.90 | |||||||||||||||||||||||||||||
Total consolidated revenues | $ | 12,093.30 | $ | 10,468.70 | $ | 34,625.70 | $ | 31,511.00 | |||||||||||||||||||||||||
Consolidated costs and expenses | |||||||||||||||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||||||
Cost of sales | $ | 10,371.30 | $ | 8,794.00 | $ | 29,522.10 | $ | 26,655.00 | |||||||||||||||||||||||||
Other operating costs and expenses (1) | 612 | 556.1 | 1,702.40 | 1,672.90 | |||||||||||||||||||||||||||||
Depreciation, amortization and accretion | 285.2 | 269.2 | 851.7 | 785.1 | |||||||||||||||||||||||||||||
Gains attributable to asset sales and | (10.2 | ) | (2.6 | ) | (68.4 | ) | (34.1 | ) | |||||||||||||||||||||||||
insurance recoveries | |||||||||||||||||||||||||||||||||
Non-cash asset impairment charges | 15.2 | 43.1 | 53.3 | 57.6 | |||||||||||||||||||||||||||||
General and administrative costs | 43.9 | 41.4 | 138.9 | 130.2 | |||||||||||||||||||||||||||||
Total consolidated costs and expenses | $ | 11,317.40 | $ | 9,701.20 | $ | 32,200.00 | $ | 29,266.70 | |||||||||||||||||||||||||
(1) Represents cost of operating our plants, pipelines and other fixed assets, excluding depreciation, amortization and accretion charges. |
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||||||
Related Party Transactions | ' | ||||||||||||||||
The following table summarizes our related party transactions for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenues – related parties: | |||||||||||||||||
Unconsolidated affiliates | $ | 7.7 | $ | 7.5 | $ | 20.3 | $ | 63.9 | |||||||||
Costs and expenses – related parties: | |||||||||||||||||
EPCO and affiliates | $ | 218.8 | $ | 210.8 | $ | 654.4 | $ | 616.9 | |||||||||
Unconsolidated affiliates | 25.9 | 15 | 86.5 | 27.3 | |||||||||||||
Total | $ | 244.7 | $ | 225.8 | $ | 740.9 | $ | 644.2 | |||||||||
The following table summarizes our related party accounts receivable and accounts payable balances at the dates indicated: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Accounts receivable – related parties: | |||||||||||||||||
Unconsolidated affiliates | $ | 12.8 | $ | 2.5 | |||||||||||||
Accounts payable – related parties: | |||||||||||||||||
EPCO and affiliates | $ | 86.2 | $ | 102.4 | |||||||||||||
Unconsolidated affiliates | 10.3 | 24.7 | |||||||||||||||
Total | $ | 96.5 | $ | 127.1 | |||||||||||||
We have an extensive and ongoing relationship with EPCO and its privately held affiliates (including Enterprise GP, our general partner), which are not a part of our consolidated group of companies. At September 30, 2013, EPCO and its privately held affiliates (including Dan Duncan LLC and certain Duncan family trusts, the beneficiaries of which include the estate of Dan L. Duncan) beneficially owned the following limited partner interests in us: | |||||||||||||||||
Number of Units | Percentage of | ||||||||||||||||
Beneficially Owned | Total Units | ||||||||||||||||
Outstanding | |||||||||||||||||
340,462,655 | 36.80% | ||||||||||||||||
The following table presents our costs and expenses attributable to the ASA and other related party transactions with EPCO for the periods indicated: | |||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Operating costs and expenses | $ | 190.5 | $ | 185.3 | $ | 564.7 | $ | 541.6 | |||||||||
General and administrative expenses | 28.3 | 25.5 | 89.7 | 75.3 | |||||||||||||
Total costs and expenses | $ | 218.8 | $ | 210.8 | $ | 654.4 | $ | 616.9 |
Earnings_Per_Unit_Tables
Earnings Per Unit (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Unit [Abstract] | ' | ||||||||||||||||
Basic and Diluted Earnings Per Unit | ' | ||||||||||||||||
For the Three Months | For the Nine Months | ||||||||||||||||
Ended September 30 | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
BASIC EARNINGS PER UNIT | |||||||||||||||||
Numerator: | |||||||||||||||||
Net income attributable to limited partners | $ | 592 | $ | 586.8 | $ | 1,898.00 | $ | 1,804.40 | |||||||||
Denominator: | |||||||||||||||||
Weighted-average number of distribution-bearing | 896.3 | 859.3 | 889.1 | 857.9 | |||||||||||||
common units outstanding | |||||||||||||||||
Basic earnings per unit: | |||||||||||||||||
Net income attributable to limited partners | $ | 0.66 | $ | 0.68 | $ | 2.13 | $ | 2.1 | |||||||||
DILUTED EARNINGS PER UNIT | |||||||||||||||||
Numerator: | |||||||||||||||||
Net income attributable to limited partners | $ | 592 | $ | 586.8 | $ | 1,898.00 | $ | 1,804.40 | |||||||||
Denominator: | |||||||||||||||||
Weighted-average number of units outstanding: | |||||||||||||||||
Distribution-bearing common units | 896.3 | 859.3 | 889.1 | 857.9 | |||||||||||||
Class B units | 1.9 | 4.5 | 3.6 | 4.5 | |||||||||||||
Designated Units | 23.7 | 26.1 | 23.7 | 26.1 | |||||||||||||
Incremental option units | 1.1 | 1.5 | 1.2 | 1.5 | |||||||||||||
Total | 923 | 891.4 | 917.6 | 890 | |||||||||||||
Diluted earnings per unit: | |||||||||||||||||
Net income attributable to limited partners | $ | 0.64 | $ | 0.66 | $ | 2.07 | $ | 2.03 |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||
Net Effect of Changes in Operating Assets and Liabilities | ' | ||||||||
For the Nine Months | |||||||||
Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Decrease (increase) in: | |||||||||
Accounts receivable – trade | $ | (1,130.0 | ) | $ | 121.7 | ||||
Accounts receivable – related parties | (9.6 | ) | 27.5 | ||||||
Inventories | (674.2 | ) | (229.2 | ) | |||||
Prepaid and other current assets | (31.5 | ) | (11.3 | ) | |||||
Other assets | 3.2 | (54.3 | ) | ||||||
Increase (decrease) in: | |||||||||
Accounts payable – trade | 114.3 | 36.2 | |||||||
Accounts payable – related parties | (30.4 | ) | (98.9 | ) | |||||
Accrued product payables | 1,358.10 | (609.4 | ) | ||||||
Accrued interest | (132.6 | ) | (100.0 | ) | |||||
Other current liabilities | 29.3 | 26.9 | |||||||
Other liabilities | (10.5 | ) | (19.4 | ) | |||||
Net effect of changes in operating accounts | $ | (513.9 | ) | $ | (910.2 | ) | |||
Schedule of Significant Acquisitions and Disposals [Table Text Block] | ' | ||||||||
The following table presents our cash proceeds from asset sales and insurance recoveries for the periods indicated: | |||||||||
For the Nine Months | |||||||||
Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Sale of Energy Transfer Equity common units (see Note 7) | $ | -- | $ | 1,095.30 | |||||
Sale of Stratton Ridge-to-Mont Belvieu segment of Seminole Pipeline (see Note 6) | 86.9 | -- | |||||||
Sales of pipeline line fill | 65 | 23.7 | |||||||
Sale of lubrication oil and specialty chemical distribution assets | 35.3 | -- | |||||||
Sale of chemical trucking assets | 29.5 | -- | |||||||
Sales of marine transportation assets | 16.5 | 2.4 | |||||||
Insurance recoveries attributable to West Storage claims (see Note 15) | 8.8 | 30 | |||||||
Other cash proceeds | 14.3 | 16 | |||||||
Total | $ | 256.3 | $ | 1,167.40 | |||||
The following table presents gains (losses) attributable to asset sales and insurance recoveries for the periods indicated: | |||||||||
For the Nine Months | |||||||||
Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Sale of Energy Transfer Equity common units (see Note 7) (1) | $ | -- | $ | 68.8 | |||||
Sale of Stratton Ridge-to-Mont Belvieu segment of Seminole Pipeline (see Note 6) | 52.5 | -- | |||||||
Net gains attributable to other asset sales | 7.1 | 4.1 | |||||||
Gains attributable to insurance recoveries (see Note 15) | 8.8 | 30 | |||||||
Total | $ | 68.4 | $ | 102.9 | |||||
(1) This amount is a component of "Other income" as presented on our Unaudited Condensed Statements of Consolidated Operations. All other amounts presented in the table are a component of "Operating costs and expenses" as presented on our Unaudited Condensed Statements of Consolidated Operations. |
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Condensed Consolidating Financial Information [Abstract] | ' | ||||||||||||||||||||||||||||
Condensed Consolidating Financial Information | ' | ||||||||||||||||||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Balance Sheet | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents and restricted cash | $ | 36.6 | $ | 31.9 | $ | (23.0 | ) | $ | 45.5 | $ | -- | $ | -- | $ | 45.5 | ||||||||||||||
Accounts receivable – trade, net | 1,846.80 | 3,624.80 | (2.5 | ) | 5,469.10 | -- | -- | 5,469.10 | |||||||||||||||||||||
Accounts receivable – related parties | 317.4 | 1,452.90 | (1,757.1 | ) | 13.2 | -- | (0.4 | ) | 12.8 | ||||||||||||||||||||
Inventories | 1,526.90 | 336.6 | (1.1 | ) | 1,862.40 | -- | -- | 1,862.40 | |||||||||||||||||||||
Prepaid and other current assets | 165.2 | 225.1 | (9.4 | ) | 380.9 | 0.2 | -- | 381.1 | |||||||||||||||||||||
Total current assets | 3,892.90 | 5,671.30 | (1,793.1 | ) | 7,771.10 | 0.2 | (0.4 | ) | 7,770.90 | ||||||||||||||||||||
Property, plant and equipment, net | 1,863.30 | 24,588.60 | 2 | 26,453.90 | -- | -- | 26,453.90 | ||||||||||||||||||||||
Investments in unconsolidated affiliates | 30,113.00 | 2,598.80 | (30,577.3 | ) | 2,134.50 | 14,472.90 | (14,472.9 | ) | 2,134.50 | ||||||||||||||||||||
Intangible assets, net | 77.3 | 1,410.30 | -- | 1,487.60 | -- | -- | 1,487.60 | ||||||||||||||||||||||
Goodwill | 458.9 | 1,621.10 | -- | 2,080.00 | -- | -- | 2,080.00 | ||||||||||||||||||||||
Other assets | 128.7 | 73.2 | (3.9 | ) | 198 | 0.1 | -- | 198.1 | |||||||||||||||||||||
Total assets | $ | 36,534.10 | $ | 35,963.30 | $ | (32,372.3 | ) | $ | 40,125.10 | $ | 14,473.20 | $ | (14,473.3 | ) | $ | 40,125.00 | |||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Current maturities of debt | $ | 1,049.90 | $ | -- | $ | -- | $ | 1,049.90 | $ | -- | $ | -- | $ | 1,049.90 | |||||||||||||||
Accounts payable – trade | 353.1 | 710.1 | (23.0 | ) | 1,040.20 | 0.1 | -- | 1,040.30 | |||||||||||||||||||||
Accounts payable – related parties | 1,588.60 | 261.7 | (1,754.5 | ) | 95.8 | 1 | (0.3 | ) | 96.5 | ||||||||||||||||||||
Accrued product payables | 2,364.10 | 3,614.90 | (6.2 | ) | 5,972.80 | -- | -- | 5,972.80 | |||||||||||||||||||||
Accrued interest | 167.9 | 0.3 | -- | 168.2 | -- | -- | 168.2 | ||||||||||||||||||||||
Other current liabilities | 90.7 | 315.8 | (9.3 | ) | 397.2 | -- | (1.1 | ) | 396.1 | ||||||||||||||||||||
Total current liabilities | 5,614.30 | 4,902.80 | (1,793.0 | ) | 8,724.10 | 1.1 | (1.4 | ) | 8,723.80 | ||||||||||||||||||||
Long-term debt | 16,466.60 | 15 | -- | 16,481.60 | -- | -- | 16,481.60 | ||||||||||||||||||||||
Deferred tax liabilities | 3.6 | 53.3 | (3.9 | ) | 53 | -- | 2 | 55 | |||||||||||||||||||||
Other long-term liabilities | 11.3 | 171.2 | (0.1 | ) | 182.4 | -- | -- | 182.4 | |||||||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||
Partners' and other owners' equity | 14,438.30 | 30,748.30 | (30,739.0 | ) | 14,447.60 | 14,472.10 | (14,447.6 | ) | 14,472.10 | ||||||||||||||||||||
Noncontrolling interests | -- | 72.7 | 163.7 | 236.4 | -- | (26.3 | ) | 210.1 | |||||||||||||||||||||
Total equity | 14,438.30 | 30,821.00 | (30,575.3 | ) | 14,684.00 | 14,472.10 | (14,473.9 | ) | 14,682.20 | ||||||||||||||||||||
Total liabilities and equity | $ | 36,534.10 | $ | 35,963.30 | $ | (32,372.3 | ) | $ | 40,125.10 | $ | 14,473.20 | $ | (14,473.3 | ) | $ | 40,125.00 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Balance Sheet | |||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents and restricted cash | $ | 4.3 | $ | 28 | $ | (12.1 | ) | $ | 20.2 | $ | 0.2 | $ | -- | $ | 20.4 | ||||||||||||||
Accounts receivable – trade, net | 1,585.20 | 2,768.70 | (3.0 | ) | 4,350.90 | -- | -- | 4,350.90 | |||||||||||||||||||||
Accounts receivable – related parties | 180.5 | 1,372.80 | (1,550.8 | ) | 2.5 | (0.6 | ) | 0.6 | 2.5 | ||||||||||||||||||||
Inventories | 853.6 | 235.6 | (0.8 | ) | 1,088.40 | -- | -- | 1,088.40 | |||||||||||||||||||||
Prepaid and other current assets | 154.9 | 231.8 | (5.8 | ) | 380.9 | -- | -- | 380.9 | |||||||||||||||||||||
Total current assets | 2,778.50 | 4,636.90 | (1,572.5 | ) | 5,842.90 | (0.4 | ) | 0.6 | 5,843.10 | ||||||||||||||||||||
Property, plant and equipment, net | 1,673.60 | 23,170.80 | 2 | 24,846.40 | -- | -- | 24,846.40 | ||||||||||||||||||||||
Investments in unconsolidated affiliates | 28,454.40 | 1,846.90 | (28,906.7 | ) | 1,394.60 | 13,188.00 | (13,188.0 | ) | 1,394.60 | ||||||||||||||||||||
Intangible assets, net | 78.5 | 1,488.30 | -- | 1,566.80 | -- | -- | 1,566.80 | ||||||||||||||||||||||
Goodwill | 458.9 | 1,627.90 | -- | 2,086.80 | -- | -- | 2,086.80 | ||||||||||||||||||||||
Other assets | 126 | 71.4 | (0.9 | ) | 196.5 | 0.2 | -- | 196.7 | |||||||||||||||||||||
Total assets | $ | 33,569.90 | $ | 32,842.20 | $ | (30,478.1 | ) | $ | 35,934.00 | $ | 13,187.80 | $ | (13,187.4 | ) | $ | 35,934.40 | |||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Current maturities of debt | $ | 1,516.70 | $ | 29.9 | $ | -- | $ | 1,546.60 | $ | -- | $ | -- | $ | 1,546.60 | |||||||||||||||
Accounts payable – trade | 226.7 | 549.8 | (12.1 | ) | 764.4 | 0.1 | -- | 764.5 | |||||||||||||||||||||
Accounts payable – related parties | 1,584.20 | 92.9 | (1,550.6 | ) | 126.5 | -- | 0.6 | 127.1 | |||||||||||||||||||||
Accrued product payables | 1,851.80 | 2,628.40 | (4.0 | ) | 4,476.20 | -- | -- | 4,476.20 | |||||||||||||||||||||
Accrued interest | 300.1 | 0.7 | -- | 300.8 | -- | -- | 300.8 | ||||||||||||||||||||||
Other current liabilities | 266.5 | 280 | (5.8 | ) | 540.7 | -- | (0.2 | ) | 540.5 | ||||||||||||||||||||
Total current liabilities | 5,746.00 | 3,581.70 | (1,572.5 | ) | 7,755.20 | 0.1 | 0.4 | 7,755.70 | |||||||||||||||||||||
Long-term debt | 14,640.20 | 15 | -- | 14,655.20 | -- | -- | 14,655.20 | ||||||||||||||||||||||
Deferred tax liabilities | 5.1 | 17.7 | (0.9 | ) | 21.9 | -- | 0.6 | 22.5 | |||||||||||||||||||||
Other long-term liabilities | 15.6 | 189.4 | -- | 205 | -- | -- | 205 | ||||||||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||
Partners' and other owners' equity | 13,163.00 | 28,963.70 | (28,961.1 | ) | 13,165.60 | 13,187.70 | (13,165.6 | ) | 13,187.70 | ||||||||||||||||||||
Noncontrolling interests | -- | 74.7 | 56.4 | 131.1 | -- | (22.8 | ) | 108.3 | |||||||||||||||||||||
Total equity | 13,163.00 | 29,038.40 | (28,904.7 | ) | 13,296.70 | 13,187.70 | (13,188.4 | ) | 13,296.00 | ||||||||||||||||||||
Total liabilities and equity | $ | 33,569.90 | $ | 32,842.20 | $ | (30,478.1 | ) | $ | 35,934.00 | $ | 13,187.80 | $ | (13,187.4 | ) | $ | 35,934.40 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Revenues | $ | 7,070.30 | $ | 8,588.40 | $ | (3,565.4 | ) | $ | 12,093.30 | $ | -- | $ | -- | $ | 12,093.30 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||
Operating costs and expenses | 6,858.00 | 7,980.90 | (3,565.4 | ) | 11,273.50 | -- | -- | 11,273.50 | |||||||||||||||||||||
General and administrative costs | 7.6 | 36 | -- | 43.6 | 0.3 | -- | 43.9 | ||||||||||||||||||||||
Total costs and expenses | 6,865.60 | 8,016.90 | (3,565.4 | ) | 11,317.10 | 0.3 | -- | 11,317.40 | |||||||||||||||||||||
Equity in income of unconsolidated affiliates | 577.2 | 47.8 | (581.0 | ) | 44 | 592.3 | (592.3 | ) | 44 | ||||||||||||||||||||
Operating income | 781.9 | 619.3 | (581.0 | ) | 820.2 | 592 | (592.3 | ) | 819.9 | ||||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||||
Interest expense | (208.0 | ) | (0.3 | ) | -- | (208.3 | ) | -- | -- | (208.3 | ) | ||||||||||||||||||
Other, net | 0.1 | 0.5 | -- | 0.6 | -- | -- | 0.6 | ||||||||||||||||||||||
Total other expense, net | (207.9 | ) | 0.2 | -- | (207.7 | ) | -- | -- | (207.7 | ) | |||||||||||||||||||
Income before income taxes | 574 | 619.5 | (581.0 | ) | 612.5 | 592 | (592.3 | ) | 612.2 | ||||||||||||||||||||
Benefit from (provision for) income taxes | 17.7 | (36.8 | ) | -- | (19.1 | ) | -- | (0.3 | ) | (19.4 | ) | ||||||||||||||||||
Net income | 591.7 | 582.7 | (581.0 | ) | 593.4 | 592 | (592.6 | ) | 592.8 | ||||||||||||||||||||
Net income attributable to noncontrolling interests | -- | (0.2 | ) | (1.6 | ) | (1.8 | ) | -- | 1 | (0.8 | ) | ||||||||||||||||||
Net income attributable to entity | $ | 591.7 | $ | 582.5 | $ | (582.6 | ) | $ | 591.6 | $ | 592 | $ | (591.6 | ) | $ | 592 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary Issuer (EPO) | Other Subsidiaries (Non-guarantor) | EPO and Subsidiaries Eliminations and Adjustments | Consolidated EPO and Subsidiaries | Enterprise Products Partners L.P. (Guarantor) | Eliminations and Adjustments | Consolidated Total | |||||||||||||||||||||||
Revenues | $ | 6,392.60 | $ | 7,072.50 | $ | (2,996.4 | ) | $ | 10,468.70 | $ | -- | $ | -- | $ | 10,468.70 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||
Operating costs and expenses | 6,192.80 | 6,464.80 | (2,997.8 | ) | 9,659.80 | -- | -- | 9,659.80 | |||||||||||||||||||||
General and administrative costs | (4.4 | ) | 45.6 | -- | 41.2 | 0.2 | -- | 41.4 | |||||||||||||||||||||
Total costs and expenses | 6,188.40 | 6,510.40 | (2,997.8 | ) | 9,701.00 | 0.2 | -- | 9,701.20 | |||||||||||||||||||||
Equity in income of unconsolidated affiliates | 581.4 | 25.7 | (586.1 | ) | 21 | 587 | (587.0 | ) | 21 | ||||||||||||||||||||
Operating income | 785.6 | 587.8 | (584.7 | ) | 788.7 | 586.8 | (587.0 | ) | 788.5 | ||||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||||
Interest expense | (199.0 | ) | (0.7 | ) | -- | (199.7 | ) | -- | -- | (199.7 | ) | ||||||||||||||||||
Other, net | -- | 1.5 | -- | 1.5 | -- | -- | 1.5 | ||||||||||||||||||||||
Total other expense, net | (199.0 | ) | 0.8 | -- | (198.2 | ) | -- | -- | (198.2 | ) | |||||||||||||||||||
Income before income taxes | 586.6 | 588.6 | (584.7 | ) | 590.5 | 586.8 | (587.0 | ) | 590.3 | ||||||||||||||||||||
Provision for income taxes | (1.4 | ) | (0.8 | ) | -- | (2.2 | ) | -- | (0.2 | ) | (2.4 | ) | |||||||||||||||||
Net income | 585.2 | 587.8 | (584.7 | ) | 588.3 | 586.8 | (587.2 | ) | 587.9 | ||||||||||||||||||||
Net income attributable to noncontrolling interests | -- | (0.4 | ) | (1.2 | ) | (1.6 | ) | -- | 0.5 | (1.1 | ) | ||||||||||||||||||
Net income attributable to entity | $ | 585.2 | $ | 587.4 | $ | (585.9 | ) | $ | 586.7 | $ | 586.8 | $ | (586.7 | ) | $ | 586.8 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Revenues | $ | 20,916.80 | $ | 24,044.50 | $ | (10,335.6 | ) | $ | 34,625.70 | $ | -- | $ | -- | $ | 34,625.70 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||
Operating costs and expenses | 20,328.50 | 22,068.20 | (10,335.6 | ) | 32,061.10 | -- | -- | 32,061.10 | |||||||||||||||||||||
General and administrative costs | 19.7 | 118 | -- | 137.7 | 1.2 | -- | 138.9 | ||||||||||||||||||||||
Total costs and expenses | 20,348.20 | 22,186.20 | (10,335.6 | ) | 32,198.80 | 1.2 | -- | 32,200.00 | |||||||||||||||||||||
Equity in income of unconsolidated affiliates | 1,936.20 | 141.9 | (1,952.0 | ) | 126.1 | 1,899.20 | (1,899.2 | ) | 126.1 | ||||||||||||||||||||
Operating income | 2,504.80 | 2,000.20 | (1,952.0 | ) | 2,553.00 | 1,898.00 | (1,899.2 | ) | 2,551.80 | ||||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||||
Interest expense | (603.0 | ) | (1.4 | ) | -- | (604.4 | ) | -- | -- | (604.4 | ) | ||||||||||||||||||
Other, net | 0.3 | (0.1 | ) | -- | 0.2 | -- | -- | 0.2 | |||||||||||||||||||||
Total other expense, net | (602.7 | ) | (1.5 | ) | -- | (604.2 | ) | -- | -- | (604.2 | ) | ||||||||||||||||||
Income before income taxes | 1,902.10 | 1,998.70 | (1,952.0 | ) | 1,948.80 | 1,898.00 | (1,899.2 | ) | 1,947.60 | ||||||||||||||||||||
Provision for income taxes | (4.9 | ) | (40.7 | ) | -- | (45.6 | ) | -- | (0.6 | ) | (46.2 | ) | |||||||||||||||||
Net income | 1,897.20 | 1,958.00 | (1,952.0 | ) | 1,903.20 | 1,898.00 | (1,899.8 | ) | 1,901.40 | ||||||||||||||||||||
Net income attributable to noncontrolling interests | -- | (1.1 | ) | (4.9 | ) | (6.0 | ) | -- | 2.6 | (3.4 | ) | ||||||||||||||||||
Net income attributable to entity | $ | 1,897.20 | $ | 1,956.90 | $ | (1,956.9 | ) | $ | 1,897.20 | $ | 1,898.00 | $ | (1,897.2 | ) | $ | 1,898.00 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Revenues | $ | 20,066.00 | $ | 20,927.00 | $ | (9,482.0 | ) | $ | 31,511.00 | $ | -- | $ | -- | $ | 31,511.00 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||
Operating costs and expenses | 19,467.00 | 19,151.40 | (9,481.9 | ) | 29,136.50 | -- | -- | 29,136.50 | |||||||||||||||||||||
General and administrative costs | 20.1 | 108.9 | -- | 129 | 1.2 | -- | 130.2 | ||||||||||||||||||||||
Total costs and expenses | 19,487.10 | 19,260.30 | (9,481.9 | ) | 29,265.50 | 1.2 | -- | 29,266.70 | |||||||||||||||||||||
Equity in income of unconsolidated affiliates | 1,774.70 | 53.1 | (1,785.6 | ) | 42.2 | 1,805.60 | (1,805.6 | ) | 42.2 | ||||||||||||||||||||
Operating income | 2,353.60 | 1,719.80 | (1,785.7 | ) | 2,287.70 | 1,804.40 | (1,805.6 | ) | 2,286.50 | ||||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||||
Interest expense | (570.3 | ) | (2.5 | ) | -- | (572.8 | ) | -- | -- | (572.8 | ) | ||||||||||||||||||
Other, net | 0.1 | 73.3 | -- | 73.4 | -- | -- | 73.4 | ||||||||||||||||||||||
Total other expense, net | (570.2 | ) | 70.8 | -- | (499.4 | ) | -- | -- | (499.4 | ) | |||||||||||||||||||
Income before income taxes | 1,783.40 | 1,790.60 | (1,785.7 | ) | 1,788.30 | 1,804.40 | (1,805.6 | ) | 1,787.10 | ||||||||||||||||||||
Benefit from income taxes | 21 | 2.9 | - | 23.9 | -- | (0.4 | ) | 23.5 | |||||||||||||||||||||
Net income | 1,804.40 | 1,793.50 | (1,785.7 | ) | 1,812.20 | 1,804.40 | (1,806.0 | ) | 1,810.60 | ||||||||||||||||||||
Net income attributable to noncontrolling interests | -- | (4.6 | ) | (3.2 | ) | (7.8 | ) | -- | 1.6 | (6.2 | ) | ||||||||||||||||||
Net income attributable to entity | $ | 1,804.40 | $ | 1,788.90 | $ | (1,788.9 | ) | $ | 1,804.40 | $ | 1,804.40 | $ | (1,804.4 | ) | $ | 1,804.40 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Comprehensive income | $ | 583.4 | $ | 604.7 | $ | (580.9 | ) | $ | 607.2 | $ | 605.7 | $ | (606.4 | ) | $ | 606.5 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -- | (0.2 | ) | (1.6 | ) | (1.8 | ) | -- | 1 | (0.8 | ) | ||||||||||||||||||
Comprehensive income attributable to entity | $ | 583.4 | $ | 604.5 | $ | (582.5 | ) | $ | 605.4 | $ | 605.7 | $ | (605.4 | ) | $ | 605.7 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Comprehensive income | $ | 559.8 | $ | 543.5 | $ | (584.7 | ) | $ | 518.6 | $ | 517.2 | $ | (517.5 | ) | $ | 518.3 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -- | (0.4 | ) | (1.2 | ) | (1.6 | ) | -- | 0.5 | (1.1 | ) | ||||||||||||||||||
Comprehensive income attributable to entity | $ | 559.8 | $ | 543.1 | $ | (585.9 | ) | $ | 517 | $ | 517.2 | $ | (517.0 | ) | $ | 517.2 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Comprehensive income | $ | 1,911.50 | $ | 1,964.70 | $ | (1,951.9 | ) | $ | 1,924.30 | $ | 1,919.10 | $ | (1,920.9 | ) | $ | 1,922.50 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -- | (1.1 | ) | (4.9 | ) | (6.0 | ) | -- | 2.6 | (3.4 | ) | ||||||||||||||||||
Comprehensive income attributable to entity | $ | 1,911.50 | $ | 1,963.60 | $ | (1,956.8 | ) | $ | 1,918.30 | $ | 1,919.10 | $ | (1,918.3 | ) | $ | 1,919.10 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Comprehensive income | $ | 1,743.40 | $ | 1,817.50 | $ | (1,785.7 | ) | $ | 1,775.20 | $ | 1,767.50 | $ | (1,769.0 | ) | $ | 1,773.70 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -- | (4.6 | ) | (3.2 | ) | (7.8 | ) | -- | 1.6 | (6.2 | ) | ||||||||||||||||||
Comprehensive income attributable to entity | $ | 1,743.40 | $ | 1,812.90 | $ | (1,788.9 | ) | $ | 1,767.40 | $ | 1,767.50 | $ | (1,767.4 | ) | $ | 1,767.50 | |||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Operating activities: | |||||||||||||||||||||||||||||
Net income | $ | 1,897.20 | $ | 1,958.00 | $ | (1,952.0 | ) | $ | 1,903.20 | $ | 1,898.00 | $ | (1,899.8 | ) | $ | 1,901.40 | |||||||||||||
Reconciliation of net income to net cash flows provided by operating activities: | |||||||||||||||||||||||||||||
Depreciation, amortization and accretion | 105.3 | 797 | -- | 902.3 | -- | -- | 902.3 | ||||||||||||||||||||||
Equity in income of unconsolidated affiliates | (1,936.2 | ) | (141.9 | ) | 1,952.00 | (126.1 | ) | (1,899.2 | ) | 1,899.20 | (126.1 | ) | |||||||||||||||||
Distributions received from unconsolidated affiliates | 3,421.10 | 180.7 | (3,414.2 | ) | 187.6 | 1,830.90 | (1,830.9 | ) | 187.6 | ||||||||||||||||||||
Net effect of changes in operating accounts and other operating activities | (1,371.4 | ) | 889.7 | (11.0 | ) | (492.7 | ) | (6.6 | ) | 0.3 | (499.0 | ) | |||||||||||||||||
Net cash flows provided by operating activities | 2,116.00 | 3,683.50 | (3,425.2 | ) | 2,374.30 | 1,823.10 | (1,831.2 | ) | 2,366.20 | ||||||||||||||||||||
Investing activities: | |||||||||||||||||||||||||||||
Capital expenditures, net of contributions in aid of construction costs | (292.1 | ) | (2,101.2 | ) | -- | (2,393.3 | ) | -- | -- | (2,393.3 | ) | ||||||||||||||||||
Proceeds from asset sales and insurance recoveries | 57.5 | 198.8 | -- | 256.3 | -- | -- | 256.3 | ||||||||||||||||||||||
Other investing activities | (2,366.7 | ) | (485.6 | ) | 2,051.80 | (800.5 | ) | (1,135.2 | ) | 1,135.20 | (800.5 | ) | |||||||||||||||||
Cash used in investing activities | (2,601.3 | ) | (2,388.0 | ) | 2,051.80 | (2,937.5 | ) | (1,135.2 | ) | 1,135.20 | (2,937.5 | ) | |||||||||||||||||
Financing activities: | |||||||||||||||||||||||||||||
Borrowings under debt agreements | 10,139.20 | -- | -- | 10,139.20 | -- | -- | 10,139.20 | ||||||||||||||||||||||
Repayments of debt | (8,761.7 | ) | (29.9 | ) | -- | (8,791.6 | ) | -- | -- | (8,791.6 | ) | ||||||||||||||||||
Cash distributions paid to partners | (1,831.2 | ) | (3,420.6 | ) | 3,420.60 | (1,831.2 | ) | (1,778.3 | ) | 1,831.20 | (1,778.3 | ) | |||||||||||||||||
Cash distributions paid to noncontrolling interests | -- | -- | (6.4 | ) | (6.4 | ) | -- | -- | (6.4 | ) | |||||||||||||||||||
Cash contributions from noncontrolling interests | -- | -- | 104.2 | 104.2 | -- | -- | 104.2 | ||||||||||||||||||||||
Net cash proceeds from issuance of common units | -- | -- | -- | -- | 1,134.70 | -- | 1,134.70 | ||||||||||||||||||||||
Cash contributions from owners | 1,135.20 | 2,155.90 | (2,155.9 | ) | 1,135.20 | -- | (1,135.2 | ) | -- | ||||||||||||||||||||
Other financing activities | (192.6 | ) | 0.1 | -- | (192.5 | ) | (44.5 | ) | -- | (237.0 | ) | ||||||||||||||||||
Cash provided by (used in) financing activities | 488.9 | (1,294.5 | ) | 1,362.50 | 556.9 | (688.1 | ) | 696 | 564.8 | ||||||||||||||||||||
Net change in cash and cash equivalents | 3.6 | 1 | (10.9 | ) | (6.3 | ) | (0.2 | ) | -- | (6.5 | ) | ||||||||||||||||||
Cash and cash equivalents, January 1 | -- | 28 | (12.1 | ) | 15.9 | 0.2 | -- | 16.1 | |||||||||||||||||||||
Cash and cash equivalents, September 30 | $ | 3.6 | $ | 29 | $ | (23.0 | ) | $ | 9.6 | $ | -- | $ | -- | $ | 9.6 | ||||||||||||||
Enterprise Products Partners L.P. | |||||||||||||||||||||||||||||
Unaudited Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
EPO and Subsidiaries | |||||||||||||||||||||||||||||
Subsidiary | Other | EPO and | Consolidated | Enterprise | Eliminations | Consolidated | |||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | EPO and | Products | and | Total | |||||||||||||||||||||||
(EPO) | (Non- | Eliminations | Subsidiaries | Partners | Adjustments | ||||||||||||||||||||||||
guarantor) | and | L.P. | |||||||||||||||||||||||||||
Adjustments | (Guarantor) | ||||||||||||||||||||||||||||
Operating activities: | |||||||||||||||||||||||||||||
Net income | $ | 1,804.40 | $ | 1,793.50 | $ | (1,785.7 | ) | $ | 1,812.20 | $ | 1,804.40 | $ | (1,806.0 | ) | $ | 1,810.60 | |||||||||||||
Reconciliation of net income to net cash flows provided by operating activities: | |||||||||||||||||||||||||||||
Depreciation, amortization and accretion | 89.9 | 728 | -- | 817.9 | -- | -- | 817.9 | ||||||||||||||||||||||
Equity in income of unconsolidated affiliates | (1,774.7 | ) | (53.1 | ) | 1,785.60 | (42.2 | ) | (1,805.6 | ) | 1,805.60 | (42.2 | ) | |||||||||||||||||
Distributions received from unconsolidated affiliates | 2,898.70 | 54.3 | (2,885.5 | ) | 67.5 | 1,643.40 | (1,643.4 | ) | 67.5 | ||||||||||||||||||||
Net effect of changes in operating accounts and other operating activities | (2,005.1 | ) | 1,057.80 | 1.4 | (945.9 | ) | (92.5 | ) | 0.4 | (1,038.0 | ) | ||||||||||||||||||
Net cash flows provided by operating activities | 1,013.20 | 3,580.50 | (2,884.2 | ) | 1,709.50 | 1,549.70 | (1,643.4 | ) | 1,615.80 | ||||||||||||||||||||
Investing activities: | |||||||||||||||||||||||||||||
Capital expenditures, net of contributions in aid of construction costs | (161.2 | ) | (2,536.7 | ) | -- | (2,697.9 | ) | -- | -- | (2,697.9 | ) | ||||||||||||||||||
Proceeds from asset sales and insurance recoveries | 1,109.10 | 58.3 | -- | 1,167.40 | -- | -- | 1,167.40 | ||||||||||||||||||||||
Other investing activities | (2,161.7 | ) | (254.2 | ) | 2,051.40 | (364.5 | ) | (571.5 | ) | 571.5 | (364.5 | ) | |||||||||||||||||
Cash used in investing activities | (1,213.8 | ) | (2,732.6 | ) | 2,051.40 | (1,895.0 | ) | (571.5 | ) | 571.5 | (1,895.0 | ) | |||||||||||||||||
Financing activities: | |||||||||||||||||||||||||||||
Borrowings under debt agreements | 7,141.40 | -- | -- | 7,141.40 | -- | -- | 7,141.40 | ||||||||||||||||||||||
Repayments of debt | (5,706.5 | ) | (9.5 | ) | -- | (5,716.0 | ) | -- | -- | (5,716.0 | ) | ||||||||||||||||||
Cash distributions paid to partners | (1,643.4 | ) | (2,889.7 | ) | 2,889.70 | (1,643.4 | ) | (1,613.4 | ) | 1,643.40 | (1,613.4 | ) | |||||||||||||||||
Cash distributions paid to noncontrolling interests | -- | (7.1 | ) | (4.2 | ) | (11.3 | ) | -- | -- | (11.3 | ) | ||||||||||||||||||
Cash contributions from noncontrolling interests | -- | -- | 6.5 | 6.5 | -- | -- | 6.5 | ||||||||||||||||||||||
Net cash proceeds from issuance of common units | -- | -- | -- | -- | 658.6 | -- | 658.6 | ||||||||||||||||||||||
Cash contributions from owners | 571.5 | 2,057.80 | (2,057.8 | ) | 571.5 | -- | (571.5 | ) | -- | ||||||||||||||||||||
Other financing activities | (168.5 | ) | -- | -- | (168.5 | ) | (23.4 | ) | -- | (191.9 | ) | ||||||||||||||||||
Cash provided by (used in) financing activities | 194.5 | (848.5 | ) | 834.2 | 180.2 | (978.2 | ) | 1,071.90 | 273.9 | ||||||||||||||||||||
Net change in cash and cash equivalents | (6.1 | ) | (0.6 | ) | 1.4 | (5.3 | ) | -- | -- | (5.3 | ) | ||||||||||||||||||
Cash and cash equivalents, January 1 | 9.7 | 21.3 | (11.2 | ) | 19.8 | -- | -- | 19.8 | |||||||||||||||||||||
Cash and cash equivalents, September 30 | $ | 3.6 | $ | 20.7 | $ | (9.8 | ) | $ | 14.5 | $ | -- | $ | -- | $ | 14.5 |
Partnership_Operations_and_Org1
Partnership Operations and Organization (Details) | 9 Months Ended |
Sep. 30, 2013 | |
SegmentINF | |
Partnership Operations and Organization [Abstract] | ' |
Number of reportable segments | 5 |
Limited partners ownership interest (in hundredths) | 100.00% |
General_Accounting_Matters_Det
General Accounting Matters (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||||
Income Tax Expense (Benefit) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Provision for (benefit from) income taxes | $19.40 | $2.40 | ' | $46.20 | ($23.50) | ' | ||||
Income tax expense due to changes in Texas Margin Tax | ' | ' | ' | 19.6 | ' | ' | ||||
Income tax benefit from the conversion of company structure | ' | ' | 46.5 | ' | ' | ' | ||||
Deferred Income Tax Expense (Benefit) | ' | ' | ' | 32.1 | -67.9 | ' | ||||
Current Income Tax Expense | ' | ' | ' | 14.1 | ' | ' | ||||
Cash payments for income taxes | ' | ' | ' | ' | 22 | ' | ||||
Other Nonoperating Income (Expense) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Gain on sales of available-for-sale securities of Energy Transfer Equity | 0 | [1] | 0 | [1] | ' | 0 | [1] | 68.8 | [1] | ' |
Distribution income from Energy Transfer Equity | 0 | 0 | ' | 0 | 4.1 | ' | ||||
Other | 0.4 | 1.2 | ' | -0.5 | -0.2 | ' | ||||
Total | 0.4 | 1.2 | ' | -0.5 | 72.7 | ' | ||||
Restricted cash [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Restricted cash | 35.9 | ' | ' | 35.9 | ' | 4.3 | ||||
Allowance for Doubtful Accounts, Current [Member] | ' | ' | ' | ' | ' | ' | ||||
Movement in valuation allowances and reserves [Roll Forward] | ' | ' | ' | ' | ' | ' | ||||
Balance at beginning of period | ' | ' | 13.4 | 13.2 | 13.4 | ' | ||||
Charged to costs and expenses | ' | ' | ' | 1.2 | 0.2 | ' | ||||
Deductions | ' | ' | ' | -7.7 | -0.4 | ' | ||||
Balance at end of period | $6.70 | $13.20 | ' | $6.70 | $13.20 | ' | ||||
[1] | See Note 7 for information regarding the liquidation of our investment in limited partnership units of Energy Transfer Equity. |
Equitybased_Awards_Details
Equity-based Awards (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Equity-based compensation expense [Abstract] | ' | ' | ' | ' | ||||
Total compensation expense | $18 | $14.20 | $53.80 | $47.10 | ||||
Restricted Common Unit Awards [Member] | ' | ' | ' | ' | ||||
Equity-based compensation expense [Abstract] | ' | ' | ' | ' | ||||
Total compensation expense | 17.8 | 13.8 | 52.7 | 44.3 | ||||
Unit Option Awards [Member] | ' | ' | ' | ' | ||||
Equity-based compensation expense [Abstract] | ' | ' | ' | ' | ||||
Total compensation expense | 0.1 | 0.2 | 0.7 | 1.2 | ||||
Other Equity-based Awards [Member] | ' | ' | ' | ' | ||||
Equity-based compensation expense [Abstract] | ' | ' | ' | ' | ||||
Total compensation expense | $0.10 | [1] | $0.20 | [1] | $0.40 | [1] | $1.60 | [1] |
Long-Term Incentive Plan (1998) [Member] | ' | ' | ' | ' | ||||
Equity-based compensation expense [Abstract] | ' | ' | ' | ' | ||||
Remaining number of common units available to be issued as awards (in units) | 1,151,778 | ' | 1,151,778 | ' | ||||
Long-Term Incentive Plan (2008) [Member] | ' | ' | ' | ' | ||||
Equity-based compensation expense [Abstract] | ' | ' | ' | ' | ||||
Incremental number of units to be authorized annually (in units) | ' | ' | 2,500,000 | ' | ||||
Maximum number of additional units to be authorized for issuance (in units) | ' | ' | 35,000,000 | ' | ||||
Maximum number of common units that may be issued as awards (in units) | 10,000,000 | ' | 10,000,000 | ' | ||||
Remaining number of common units available to be issued as awards (in units) | 4,333,287 | ' | 4,333,287 | ' | ||||
[1] | Primarily represents expense associated with unit appreciation rights ("UARs"), phantom units and similar awards. |
Equitybased_Awards_Restricted_
Equity-based Awards, Restricted Unit Awards (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Summary of awards activity, equity instruments other than options, additional disclosures [Abstract] | ' | ' | ' | ' | |
Cash distributions paid to common unitholders | ' | ' | $1,778.30 | $1,613.40 | |
Restricted Common Unit Awards [Member] | ' | ' | ' | ' | |
Summary of awards activity, equity instruments other than options [Roll Forward] | ' | ' | ' | ' | |
Beginning of period (in units) | ' | ' | 3,893,486 | ' | |
Granted (in units) | ' | ' | 1,769,076 | [1],[2] | ' |
Vested (in units) | ' | ' | -1,846,198 | [1] | ' |
Forfeited (in units) | ' | ' | -159,832 | ' | |
End of period (in units) | 3,656,532 | ' | 3,656,532 | ' | |
Restricted units outstanding, weighted-average grant date fair value [Roll Forward] | ' | ' | ' | ' | |
Weighted-average grant date fair value per unit, at beginning of period (in dollars per unit) | ' | ' | $40.87 | ' | |
Granted weighted-average grant date fair value per unit (in dollars per unit) | ' | ' | $57.20 | [1],[2] | ' |
Vested weighted-average grant date fair value per unit (in dollars per unit) | ' | ' | $34.77 | [1] | ' |
Forfeited weighted-average grant date fair value per unit (in dollars per unit) | ' | ' | $47.40 | ' | |
Weighted-average grant date fair value per unit, at end of period (in dollars per unit) | $51.56 | ' | $51.56 | ' | |
Summary of awards activity, equity instruments other than options, additional disclosures [Abstract] | ' | ' | ' | ' | |
Aggregate grant date fair value | ' | ' | 101.2 | ' | |
Estimated forfeiture rate (in hundredths) | ' | ' | 3.90% | ' | |
Equity based awards issued to independent directors of the entities' general partner (in units) | ' | ' | 9,296 | ' | |
Cash distributions paid to common unitholders | 2.6 | 2.5 | 8.2 | 7.9 | |
Total intrinsic value of restricted common unit awards that vested during period | 1 | 1.5 | 107.4 | 64.2 | |
Unrecognized Compensation Expense [Abstract] | ' | ' | ' | ' | |
Unrecognized compensation cost | 91.3 | ' | 91.3 | ' | |
Recognition period for total unrecognized compensation cost | ' | ' | '2 years | ' | |
Restricted Common Unit Awards [Member] | Minimum [Member] | ' | ' | ' | ' | |
Summary of awards activity, equity instruments other than options, additional disclosures [Abstract] | ' | ' | ' | ' | |
Grant date market price of common units (in dollars per unit) | ' | ' | $57.11 | ' | |
Restricted Common Unit Awards [Member] | Maximum [Member] | ' | ' | ' | ' | |
Summary of awards activity, equity instruments other than options, additional disclosures [Abstract] | ' | ' | ' | ' | |
Grant date market price of common units (in dollars per unit) | ' | ' | $61.58 | ' | |
Restricted Common Unit Awards [Member] | Enterprise [Member] | ' | ' | ' | ' | |
Unrecognized Compensation Expense [Abstract] | ' | ' | ' | ' | |
Unrecognized compensation cost | $83.40 | ' | $83.40 | ' | |
[1] | Includes awards granted to the independent directors of the board of directors of Enterprise GP as part of their annual compensation for 2013. A total of 9,296 restricted common unit awards were issued to the independent directors of Enterprise GP, which immediately vested upon issuance. | ||||
[2] | The aggregate grant date fair value of restricted common unit awards issued during 2013 was $101.2 million based on a grant date market price of our common units ranging from $57.11 to $61.58 per unit. An estimated annual forfeiture rate of 3.9% was applied to these awards. |
Equitybased_Awards_Unit_Option
Equity-based Awards, Unit Option Awards (Details) (Unit Option Awards [Member], USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||
Unit Option Awards [Member] | ' | ' | ' | ||
Summary of awards activity, options [Roll Forward] | ' | ' | ' | ||
Beginning of period (in units) | 2,761,140 | ' | ' | ||
Exercised (in units) | -736,140 | ' | ' | ||
End of period (in units) | 2,025,000 | ' | 2,761,140 | ||
Options outstanding, weighted-average strike price [Roll Forward] | ' | ' | ' | ||
Weighted average strike price, beginning of period (in dollars per unit) | $27.41 | ' | ' | ||
Weighted average strike price, exercised (in dollars per unit) | $29.95 | ' | ' | ||
Weighted average strike price, end of period (in dollars per unit) | $26.49 | ' | $27.41 | ||
Weighted average remaining contractual term | '1 year 7 months | ' | '2 years | ||
Aggregate intrinsic value | $50 | [1] | ' | $13 | [1] |
Exercisable (in units) | 0 | ' | ' | ||
Exercisable - Weighted average strike price (in dollars per unit) | $0 | ' | ' | ||
Exercisable - Weighted average remaining contractual term (in years) | '0 years | ' | ' | ||
Exercisable - Aggregate intrinsic value | 0 | [1] | ' | ' | |
Total intrinsic value of unit option awards exercised during period | 19.8 | 14 | ' | ||
Cash received from EPCO in connection with the exercise of unit option awards | 11.5 | 10.2 | ' | ||
Unit option award-related cash reimbursements to EPCO | 19.8 | 14 | ' | ||
Unrecognized Compensation Expense [Abstract] | ' | ' | ' | ||
Unrecognized compensation cost | $0.20 | ' | ' | ||
Recognition period for total unrecognized compensation cost | '0 years 5 months | ' | ' | ||
[1] | Aggregate intrinsic value reflects fully vested unit option awards at the date indicated. |
Derivative_Instruments_Hedging2
Derivative Instruments, Hedging Activities and Fair Value Measurements (Details) (USD $) | 1 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Mar. 31, 2013 | Aug. 31, 2012 | Feb. 29, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
ContractINF | ContractINF | ContractINF | ContractINF | |||
Interest rate derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Forward Starting Swaps [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Number of Derivatives Outstanding | ' | ' | ' | ' | 16 | |
Type of Derivatives Outstanding | ' | ' | ' | 'forward starting interest rate swaps | ' | |
Notional Amount | ' | ' | ' | ' | $1,000 | |
Number of derivative instruments settled | 16 | 7 | 10 | ' | ' | |
Notional amount of settled derivative instruments | 1,000 | 350 | 500 | ' | ' | |
Accumulated other comprehensive income (loss) related to interest rate derivative instruments | -168.8 | -70.2 | -115.3 | ' | ' | |
Interest rate derivatives [Member] | Derivatives in fair value hedging relationships [Member] | Senior Notes AA [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Number of Derivatives Outstanding | ' | ' | ' | 10 | ' | |
Type of Derivatives Outstanding | ' | ' | ' | 'fixed-to-floating swaps | ' | |
Notional Amount | ' | ' | ' | 750 | ' | |
Period of Hedge | ' | ' | ' | '1/2011 to 2/2016 | ' | |
Rate Swap, fixed rate (in hundredths) | ' | ' | ' | 3.20% | ' | |
Rate Swap, floating rate (in hundredths) | ' | ' | ' | 1.20% | ' | |
Interest rate derivatives [Member] | Derivatives in fair value hedging relationships [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Number of derivative instruments settled | ' | ' | 11 | ' | ' | |
Notional amount of settled derivative instruments | ' | ' | 800 | ' | ' | |
Loss (gain) recognized due to settlement of derivative instruments | ' | ' | -37.7 | ' | ' | |
Interest rate derivatives [Member] | Derivatives in mark-to-market relationships [Member] | Undesignated Swaps [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Number of Derivatives Outstanding | ' | ' | ' | 6 | ' | |
Type of Derivatives Outstanding | ' | ' | ' | 'floating-to-fixed swaps | ' | |
Notional Amount | ' | ' | ' | $600 | ' | |
Period of Hedge | ' | ' | ' | '5/2010 to 7/2014 | ' | |
Rate Swap, fixed rate (in hundredths) | ' | ' | ' | 2.00% | ' | |
Rate Swap, floating rate (in hundredths) | ' | ' | ' | 0.30% | ' | |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Natural gas processing: Forecasted sales of NGLs [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 0.1 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Octane enhancement: Forecasted purchases of NGLs [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 1 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Octane enhancement: Forecasted sales of octane enhancement products [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 3.2 | [1],[2] | ' |
Long Term Volume | ' | ' | ' | 0.7 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Natural gas marketing: Forecasted sales of natural gas [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 2,400,000,000 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | NGL marketing: Forecasted purchases of NGLs and related hydrocarbon products [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 3.6 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | NGL marketing: Forecasted sales of NGLs and related hydrocarbon products [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 7.3 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Refined products marketing: Forecasted purchases of refined products [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 0.8 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Refined products marketing: Forecasted sales of refined products [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 1 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Crude oil marketing: Forecasted purchases of crude oil [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 3.7 | [1],[2] | ' |
Long Term Volume | ' | ' | ' | 0.3 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in cash flow hedging relationships [Member] | Crude oil marketing: Forecasted sales of crude oil [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 5.1 | [1],[2] | ' |
Long Term Volume | ' | ' | ' | 0.5 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in fair value hedging relationships [Member] | Natural gas marketing: Natural gas storage inventory management activities [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 10,000,000,000 | [1],[2] | ' |
Commodity derivatives [Member] | Derivatives in mark-to-market relationships [Member] | Natural gas risk management activities [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 112,200,000,000 | [1],[2],[3],[4] | ' |
Long Term Volume | ' | ' | ' | 23,800,000,000 | [1],[2],[3],[4] | ' |
Current natural gas hedging volumes designated as an index plus or minus a discount | ' | ' | ' | 52,000,000,000 | ' | |
Long-term natural gas hedging volumes designated as an index plus or minus a discount | ' | ' | ' | 300,000,000 | ' | |
Commodity derivatives [Member] | Derivatives in mark-to-market relationships [Member] | Refined products risk management activities [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 0.6 | [1],[2],[3] | ' |
Commodity derivatives [Member] | Derivatives in mark-to-market relationships [Member] | Crude oil risk management activities [Member] | ' | ' | ' | ' | ' | |
Derivative [Line Items] | ' | ' | ' | ' | ' | |
Current Volume | ' | ' | ' | 11 | [1],[2],[3] | ' |
Long Term Volume | ' | ' | ' | 0.9 | [1],[2],[3] | ' |
[1] | Volume for derivatives designated as hedging instruments reflects the total amount of volumes hedged whereas volume for derivatives not designated as hedging instruments reflects the absolute value of derivative notional volumes. | |||||
[2] | The maximum term for derivatives designated as cash flow hedges, derivatives designated as fair value hedges and derivatives not designated as hedging instruments is January 2015, May 2014 and October 2016, respectively. | |||||
[3] | Reflects the use of derivative instruments to manage risks associated with transportation, processing and storage assets. | |||||
[4] | Current and long-term volumes include 52.0 Bcf and 0.3 Bcf, respectively, of physical derivative instruments that are predominantly priced at a marked-based index plus a premium or minus a discount related to location differences. |
Derivative_Instruments_Hedging3
Derivative Instruments, Hedging Activities and Fair Value Measurements, Derivative Fair Value Amounts (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Commodity derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | $69.50 | $61.60 |
Liability Derivatives | 51.9 | 45.5 |
Derivatives designated as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 82.2 | 90.5 |
Liability Derivatives | 47.4 | 211.3 |
Derivatives designated as hedging instruments [Member] | Interest rate derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 31.4 | 45.2 |
Liability Derivatives | 0 | 175.4 |
Derivatives designated as hedging instruments [Member] | Interest rate derivatives [Member] | Other current assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 16.5 | 19.6 |
Derivatives designated as hedging instruments [Member] | Interest rate derivatives [Member] | Other assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 14.9 | 25.6 |
Derivatives designated as hedging instruments [Member] | Interest rate derivatives [Member] | Other current liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 0 | 175.4 |
Derivatives designated as hedging instruments [Member] | Interest rate derivatives [Member] | Other liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 0 | 0 |
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 50.8 | 45.3 |
Liability Derivatives | 47.4 | 35.9 |
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | Other current assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 46.6 | 45.3 |
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | Other assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 4.2 | 0 |
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | Other current liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 45.8 | 35.4 |
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | Other liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 1.6 | 0.5 |
Derivatives not designated as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 18.7 | 16.3 |
Liability Derivatives | 14.8 | 26.8 |
Derivatives not designated as hedging instruments [Member] | Interest rate derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 0 | 0 |
Liability Derivatives | 10.3 | 17.2 |
Derivatives not designated as hedging instruments [Member] | Interest rate derivatives [Member] | Other current assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 0 | 0 |
Derivatives not designated as hedging instruments [Member] | Interest rate derivatives [Member] | Other assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 0 | 0 |
Derivatives not designated as hedging instruments [Member] | Interest rate derivatives [Member] | Other current liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 10.3 | 12.2 |
Derivatives not designated as hedging instruments [Member] | Interest rate derivatives [Member] | Other liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 0 | 5 |
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 18.7 | 16.3 |
Liability Derivatives | 4.5 | 9.6 |
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Other current assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 16.1 | 15.7 |
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Other assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 2.6 | 0.6 |
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Other current liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 2.5 | 8.9 |
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Other liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | $2 | $0.70 |
Derivative_Instruments_Hedging4
Derivative Instruments, Hedging Activities and Fair Value Measurements, Asset Balance Sheet Offsetting (Details) (Commodity derivatives [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Commodity derivatives [Member] | ' | ' |
Offsetting Assets [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | $69.50 | $61.60 |
Gross Amounts Offset in the Balance Sheet | 0 | 0 |
Amounts of Assets Presented in the Balance Sheet | 69.5 | 61.6 |
Financial Instruments | -44.9 | -38.7 |
Cash Collateral Received | 0 | -15.2 |
Cash Collateral Paid | -16.1 | 0 |
Amounts That Would Have Been Presented On Net Basis | $8.50 | $7.70 |
Derivative_Instruments_Hedging5
Derivative Instruments, Hedging Activities and Fair Value Measurements, Liability Balance Sheet Offsetting (Details) (Commodity derivatives [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Commodity derivatives [Member] | ' | ' |
Offsetting Liabilities [Line Items] | ' | ' |
Gross Amounts of Recognized Liabilities | $51.90 | $45.50 |
Gross Amounts Offset in the Balance Sheet | 0 | 0 |
Amounts of Liabilities Presented in the Balance Sheet | 51.9 | 45.5 |
Financial Instruments | -44.9 | -38.7 |
Cash Collateral Paid | 0 | -4.3 |
Amounts That Would Have Been Presented On Net Basis | $7 | $2.50 |
Derivative_Instruments_Hedging6
Derivative Instruments, Hedging Activities and Fair Value Measurements, Gains and Losses on Derivative Instruments and Related Hedged Items (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Derivatives in fair value hedging relationships [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) Recognized in Income on Derivative | ($3.60) | $2.60 | ($7.50) | ($10) | ||||
Gain (Loss) Recognized in Income on Hedged Item | 0 | -4.7 | -1.7 | 8.2 | ||||
Derivatives in fair value hedging relationships [Member] | Interest rate derivatives [Member] | Location - Interest expense [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) Recognized in Income on Derivative | -0.5 | 3 | -10.6 | 6.1 | ||||
Gain (Loss) Recognized in Income on Hedged Item | 0.4 | -2.9 | 10.3 | -6.3 | ||||
Derivatives in fair value hedging relationships [Member] | Commodity derivatives [Member] | Location - Revenue [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) Recognized in Income on Derivative | -3.1 | -0.4 | 3.1 | -16.1 | ||||
Gain (Loss) Recognized in Income on Hedged Item | -0.4 | -1.8 | -12 | 14.5 | ||||
Derivatives in cash flow hedging relationships [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative (Effective Portion) | -8.6 | -78.7 | -15.4 | -88.4 | ||||
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income (Effective Portion) | -22.3 | -5.4 | -36.1 | -48 | ||||
Gain (Loss) Recognized in Income on Derivative (Ineffective Portion) | 0.1 | -1 | 0 | 0.2 | ||||
Derivatives in cash flow hedging relationships [Member] | Interest rate derivatives [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative (Effective Portion) | 0 | -20.2 | 6.7 | -75.3 | ||||
Derivatives in cash flow hedging relationships [Member] | Interest rate derivatives [Member] | Location - Interest expense [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income (Effective Portion) | -7.7 | -4.5 | -21.4 | -10.9 | ||||
Accumulated other comprehensive loss related to interest rate derivative instruments expected to be reclassified to earnings in interest expense over the next twelve months | -31.7 | ' | -31.7 | ' | ||||
Derivatives in cash flow hedging relationships [Member] | Commodity derivatives [Member] | Location - Revenue [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative (Effective Portion) | -8.6 | [1] | -59.5 | [1] | -22.1 | [1] | 0.7 | [1] |
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income (Effective Portion) | -14.6 | 0.3 | -15.1 | -12.3 | ||||
Gain (Loss) Recognized in Income on Derivative (Ineffective Portion) | 0.1 | -1.1 | 0 | -0.2 | ||||
Accumulated other comprehensive income related to commodity derivative instruments expected to be reclassified to earnings over the next twelve months | 0.2 | ' | 0.2 | ' | ||||
Derivatives in cash flow hedging relationships [Member] | Commodity derivatives [Member] | Location - Operating costs and expenses [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative (Effective Portion) | 0 | [1] | 1 | [1] | 0 | [1] | -13.8 | [1] |
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income (Effective Portion) | 0 | -1.2 | 0.4 | -24.8 | ||||
Gain (Loss) Recognized in Income on Derivative (Ineffective Portion) | 0 | 0.1 | 0 | 0.4 | ||||
Derivatives not designated as hedging instruments [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) Recognized in Income on Derivative | 7.6 | -6.1 | 16.4 | 17.9 | ||||
Derivatives not designated as hedging instruments [Member] | Interest rate derivatives [Member] | Location - Interest expense [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) Recognized in Income on Derivative | -0.5 | -2.2 | -0.6 | -5.5 | ||||
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Location - Revenue [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) Recognized in Income on Derivative | 8.1 | -3.9 | 17 | 26.2 | ||||
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Location - Operating costs and expenses [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) Recognized in Income on Derivative | $0 | $0 | $0 | ($2.80) | ||||
[1] | The fair value of these derivative instruments would be reclassified to their respective locations on the Statement of Consolidated Operations upon settlement of the underlying derivative transactions, as appropriate. |
Derivative_Instruments_Hedging7
Derivative Instruments, Hedging Activities and Fair Value Measurements, Recurring Fair Value Measurements (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||||||
Total gains (losses) included in: | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Unrealized gain (loss) recognized as a component of net income related to financial assets and liabilities | ' | ' | ' | ' | ' | ' | $5.30 | $15.90 | ' | |||||||
Level 3 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Financial assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Commodity derivatives | 2.3 | ' | ' | ' | ' | ' | 2.3 | ' | ' | |||||||
Financial liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Commodity derivatives | 2.2 | ' | ' | ' | ' | ' | 2.2 | ' | ' | |||||||
Fair Value, Measurements, Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Financial assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate derivatives | 31.4 | ' | ' | ' | ' | ' | 31.4 | ' | 45.2 | |||||||
Commodity derivatives | 69.5 | ' | ' | ' | ' | ' | 69.5 | ' | 61.6 | |||||||
Financial assets | 100.9 | ' | ' | ' | ' | ' | 100.9 | ' | 106.8 | |||||||
Financial liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate derivatives | 10.3 | ' | ' | ' | ' | ' | 10.3 | ' | 192.6 | |||||||
Commodity derivatives | 51.9 | ' | ' | ' | ' | ' | 51.9 | ' | 45.5 | |||||||
Financial liabilities | 62.2 | ' | ' | ' | ' | ' | 62.2 | ' | 238.1 | |||||||
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Financial assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate derivatives | 0 | ' | ' | ' | ' | ' | 0 | ' | 0 | |||||||
Commodity derivatives | 34 | ' | ' | ' | ' | ' | 34 | ' | 11.4 | |||||||
Financial assets | 34 | ' | ' | ' | ' | ' | 34 | ' | 11.4 | |||||||
Financial liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate derivatives | 0 | ' | ' | ' | ' | ' | 0 | ' | 0 | |||||||
Commodity derivatives | 19.5 | ' | ' | ' | ' | ' | 19.5 | ' | 13.1 | |||||||
Financial liabilities | 19.5 | ' | ' | ' | ' | ' | 19.5 | ' | 13.1 | |||||||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Financial assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate derivatives | 31.4 | ' | ' | ' | ' | ' | 31.4 | ' | 45.2 | |||||||
Commodity derivatives | 33.2 | ' | ' | ' | ' | ' | 33.2 | ' | 47.8 | |||||||
Financial assets | 64.6 | ' | ' | ' | ' | ' | 64.6 | ' | 93 | |||||||
Financial liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate derivatives | 10.3 | ' | ' | ' | ' | ' | 10.3 | ' | 192.6 | |||||||
Commodity derivatives | 30.2 | ' | ' | ' | ' | ' | 30.2 | ' | 28.5 | |||||||
Financial liabilities | 40.5 | ' | ' | ' | ' | ' | 40.5 | ' | 221.1 | |||||||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Financial assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate derivatives | 0 | ' | ' | ' | ' | ' | 0 | ' | 0 | |||||||
Commodity derivatives | 2.3 | ' | ' | ' | ' | ' | 2.3 | ' | 2.4 | |||||||
Financial assets | 2.3 | ' | ' | ' | ' | ' | 2.3 | ' | 2.4 | |||||||
Financial liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate derivatives | 0 | ' | ' | ' | ' | ' | 0 | ' | 0 | |||||||
Commodity derivatives | 2.2 | ' | ' | ' | ' | ' | 2.2 | ' | 3.9 | |||||||
Financial liabilities | 2.2 | ' | ' | ' | ' | ' | 2.2 | ' | 3.9 | |||||||
Reconciliation of changes in the fair value of Level 3 financial assets and liabilities [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Financial asset (liability) balance, net, beginning of period | -0.2 | -0.6 | -1.5 | 4.9 | 0.9 | 0.4 | -1.5 | 0.4 | ' | |||||||
Total gains (losses) included in: | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net income | 1.1 | [1] | -0.2 | [1] | -0.6 | [1] | -0.6 | [1] | -1.3 | [1] | 0.5 | [1] | ' | ' | ' | |
Other comprehensive income (loss) | -0.9 | 0 | 0 | 3.5 | 6 | 0.5 | ' | ' | ' | |||||||
Settlements | 0.1 | 0.6 | 1.5 | 1.4 | -0.7 | -0.5 | ' | ' | ' | |||||||
Financial asset (liability) balance, net, end of period | 0.1 | [2] | -0.2 | -0.6 | 9.2 | 4.9 | 0.9 | 0.1 | [2] | 9.2 | ' | |||||
Unrealized gain (loss) recognized as a component of net income related to financial assets and liabilities | $1.10 | ' | ' | $0.80 | ' | ' | $2.40 | ($1.10) | ' | |||||||
[1] | There were unrealized gains of $1.1 million and $2.4 million included in these amounts for the three and nine months ended September 30, 2013, respectively. There were $0.8 million of unrealized gains and $1.1 million of unrealized losses included in these amounts for the three and nine months ended September 30, 2012, respectively. | |||||||||||||||
[2] | There were no transfers into or out of Level 3 during the three or nine months ended September 30, 2013. |
Derivative_Instruments_Hedging8
Derivative Instruments, Hedging Activities and Fair Value Measurements, Level 3 Recurring Valuation Techniques (Details) (Level 3 [Member], USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Asset commodity derivatives | 2.3 |
Liability commodity derivatives | 2.2 |
Liability commodity derivatives - Crude oil [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Liability commodity derivatives | 0.2 |
Liability commodity derivatives - Normal butane [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Liability commodity derivatives | 0.1 |
Liability commodity derivatives - Natural gasoline [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Liability commodity derivatives | 1.4 |
Liability commodity derivatives - Natural gas [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Liability commodity derivatives | 0.5 |
Liability commodity derivatives - Propane [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Liability commodity derivatives | 0 |
Asset commodity derivatives - Propane [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Asset commodity derivatives | 0.1 |
Asset commodity derivatives - Propane [Member] | Liability commodity derivatives - Propane [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair Value Measurements, Valuation Techniques | 'Discounted cash flow |
Input description | 'Forward commodity prices |
Asset commodity derivatives - Propane [Member] | Liability commodity derivatives - Propane [Member] | Minimum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 0.97 |
Asset commodity derivatives - Propane [Member] | Liability commodity derivatives - Propane [Member] | Maximum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 1.07 |
Asset commodity derivatives - Normal butane [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Asset commodity derivatives | 0 |
Asset commodity derivatives - Normal butane [Member] | Liability commodity derivatives - Normal butane [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair Value Measurements, Valuation Techniques | 'Discounted cash flow |
Input description | 'Forward commodity prices |
Asset commodity derivatives - Normal butane [Member] | Liability commodity derivatives - Normal butane [Member] | Minimum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 1.26 |
Asset commodity derivatives - Normal butane [Member] | Liability commodity derivatives - Normal butane [Member] | Maximum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 1.38 |
Asset commodity derivatives - Crude oil [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Asset commodity derivatives | 1.4 |
Asset commodity derivatives - Crude oil [Member] | Liability commodity derivatives - Crude oil [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair Value Measurements, Valuation Techniques | 'Discounted cash flow |
Input description | 'Forward commodity prices |
Asset commodity derivatives - Crude oil [Member] | Liability commodity derivatives - Crude oil [Member] | Minimum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 91.87 |
Asset commodity derivatives - Crude oil [Member] | Liability commodity derivatives - Crude oil [Member] | Maximum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 103.07 |
Assets commodity derivatives - Natural gas [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Asset commodity derivatives | 0.2 |
Assets commodity derivatives - Natural gas [Member] | Liability commodity derivatives - Natural gas [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair Value Measurements, Valuation Techniques | 'Discounted cash flow |
Input description | 'Forward commodity prices |
Assets commodity derivatives - Natural gas [Member] | Liability commodity derivatives - Natural gas [Member] | Minimum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 3.26 |
Assets commodity derivatives - Natural gas [Member] | Liability commodity derivatives - Natural gas [Member] | Maximum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 3.99 |
Asset commodity derivatives - Natural gasoline [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Asset commodity derivatives | 0.6 |
Asset commodity derivatives - Natural gasoline [Member] | Liability commodity derivatives - Natural gasoline [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair Value Measurements, Valuation Techniques | 'Discounted cash flow |
Input description | 'Forward commodity prices |
Asset commodity derivatives - Natural gasoline [Member] | Liability commodity derivatives - Natural gasoline [Member] | Minimum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 1.92 |
Asset commodity derivatives - Natural gasoline [Member] | Liability commodity derivatives - Natural gasoline [Member] | Maximum [Member] | ' |
Fair Value Measurements, Recurring, Valuation Techniques [Line Items] | ' |
Fair value inputs, forward commodity price (in dollars per unit) | 2.07 |
Derivative_Instruments_Hedging9
Derivative Instruments, Hedging Activities and Fair Value Measurements, Nonrecurring Fair Value Measurements (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | $15.20 | $43.10 | $53.30 | $57.60 | ||||
Long-lived Assets Disposed of Other Than By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | ' | ' | 43.3 | [1] | 50.7 | [2] | ||
Long-lived Assets Held and Used [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | ' | ' | 4.2 | 2.6 | ||||
Long-lived Assets Disposed of By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | ' | ' | 5.8 | 4.3 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Long-lived Assets Disposed of Other Than By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 0 | [1] | 0 | [2] | 0 | [1] | 0 | [2] |
Fair Value, Measurements, Nonrecurring [Member] | Long-lived Assets Held and Used [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 6.1 | 2.2 | 6.1 | 2.2 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Long-lived Assets Disposed of By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 11.7 | 0 | 11.7 | 0 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | Long-lived Assets Disposed of Other Than By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 0 | [1] | 0 | [2] | 0 | [1] | 0 | [2] |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | Long-lived Assets Held and Used [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 0 | 0 | 0 | 0 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | Long-lived Assets Disposed of By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 11.7 | 0 | 11.7 | 0 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | Long-lived Assets Disposed of Other Than By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 0 | [1] | 0 | [2] | 0 | [1] | 0 | [2] |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | Long-lived Assets Held and Used [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 0 | 0 | 0 | 0 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | Long-lived Assets Disposed of By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 0 | 0 | 0 | 0 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | Long-lived Assets Disposed of Other Than By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 0 | [1] | 0 | [2] | 0 | [1] | 0 | [2] |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | Long-lived Assets Held and Used [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 6.1 | 2.2 | 6.1 | 2.2 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | Long-lived Assets Disposed of By Sale [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Assets, fair value | 0 | 0 | 0 | 0 | ||||
NGL Pipelines and Services [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | 0.3 | 8.3 | 10 | 16.3 | ||||
Onshore Natural Gas Pipelines And Services [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | 0 | 29.2 | 0 | 29.2 | ||||
Onshore Crude Oil Pipelines and Services [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | 0 | 0 | 16.6 | 6.2 | ||||
Offshore Pipelines And Services [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | 13.2 | 4 | 13.2 | 4 | ||||
Petrochemical and Refined Products Services [Member] | ' | ' | ' | ' | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' | ||||
Non-cash asset impairment charges | $1.70 | $1.60 | $13.50 | $1.90 | ||||
[1] | Our non-cash asset impairment charges for the nine months ended September 30, 2013 primarily represent the abandonment of crude oil and natural gas pipeline segments in Texas, Oklahoma and the Gulf of Mexico, certain refined products terminal assets in Texas, and an NGL storage cavern in Arizona. | |||||||
[2] | Our non-cash asset impairment charges for the nine months ended September 30, 2012 primarily represent the abandonment of crude oil and natural gas pipeline segments in Texas and the Gulf of Mexico. |
Recovered_Sheet1
Derivative Instruments, Hedging Activities and Fair Value Measurements, Other Fair Value Measurements (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Billions, unless otherwise specified | ||
Carrying Value [Member] | ' | ' |
Financial Liabilities: [Abstract] | ' | ' |
Fixed Rate Debt Principal Amount Fair Value Disclosure | $17.43 | $16.18 |
Level 2 [Member] | Fair Value [Member] | ' | ' |
Financial Liabilities: [Abstract] | ' | ' |
Fixed Rate Debt Principal Amount Fair Value Disclosure | $18.42 | $18.42 |
Inventories_Details
Inventories (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||||
Available-for-Sale Inventory by Product Type [Abstract] | ' | ' | ' | ' | ' | ||||
NGLs | $1,085.80 | ' | $1,085.80 | ' | $594.30 | ||||
Petrochemicals and refined products | 448.2 | ' | 448.2 | ' | 304.5 | ||||
Crude oil | 254.8 | ' | 254.8 | ' | 119.4 | ||||
Natural gas | 73.6 | ' | 73.6 | ' | 70.2 | ||||
Total | 1,862.40 | ' | 1,862.40 | ' | 1,088.40 | ||||
Summary of cost of sales and lower of cost or market adjustments [Abstract] | ' | ' | ' | ' | ' | ||||
Cost of sales | 10,371.30 | [1] | 8,794 | [1] | 29,522.10 | [1] | 26,655 | [1] | ' |
Lower of cost or market adjustments | $4.50 | $2.20 | $14.90 | $16.10 | ' | ||||
[1] | Cost of sales is a component of "Operating costs and expenses," as presented on our Unaudited Condensed Statements of Consolidated Operations. Period-to-period fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities. |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment, gross | $33,255 | ' | $33,255 | ' | $30,955.40 | |||||
Less accumulated depreciation | 6,801.10 | ' | 6,801.10 | ' | 6,109 | |||||
Property, plant and equipment, net | 26,453.90 | ' | 26,453.90 | ' | 24,846.40 | |||||
Summary of depreciation expense and capitalized interest [Abstract] | ' | ' | ' | ' | ' | |||||
Depreciation expense | 253.4 | [1] | 228.3 | [1] | 749.6 | [1] | 662.3 | [1] | ' | |
Capitalized interest | 27.8 | [2] | 26.3 | [2] | 95.1 | [2] | 86.4 | [2] | ' | |
Asset Retirement Obligations [Roll Forward] | ' | ' | ' | ' | ' | |||||
ARO liability balance, December 31, 2012 | ' | ' | 105.2 | ' | ' | |||||
Liabilities incurred | ' | ' | 0.1 | ' | ' | |||||
Liabilities settled | ' | ' | -10.4 | ' | ' | |||||
Revisions in estimated cash flows | ' | ' | -2.2 | ' | ' | |||||
Accretion expense | ' | ' | 4.6 | ' | ' | |||||
ARO liability balance, September 30, 2013 | 97.3 | ' | 97.3 | ' | ' | |||||
Capitalized costs, asset retirement costs | 39.3 | ' | 39.3 | ' | 40.3 | |||||
Forecasted accretion expense [Abstract] | ' | ' | ' | ' | ' | |||||
Remainder of 2013 | 1.5 | ' | 1.5 | ' | ' | |||||
2014 | 6.3 | ' | 6.3 | ' | ' | |||||
2015 | 6.7 | ' | 6.7 | ' | ' | |||||
2016 | 7.1 | ' | 7.1 | ' | ' | |||||
2017 | 7.7 | ' | 7.7 | ' | ' | |||||
Plants, pipelines and facilities [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment, gross | 26,878.40 | [3] | ' | 26,878.40 | [3] | ' | 25,382.40 | [3] | ||
Plants, pipelines and facilities [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '3 years | [3],[4] | ' | ' | ||||
Plants, pipelines and facilities [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '45 years | [3],[4] | ' | ' | ||||
Underground and other storage facilities [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment, gross | 1,980.50 | [5] | ' | 1,980.50 | [5] | ' | 1,826.30 | [5] | ||
Underground and other storage facilities [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '5 years | [5],[6] | ' | ' | ||||
Underground and other storage facilities [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '40 years | [5],[6] | ' | ' | ||||
Platforms and facilities [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment, gross | 659.6 | [7] | ' | 659.6 | [7] | ' | 635.2 | [7] | ||
Platforms and facilities [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '20 years | [7] | ' | ' | ||||
Platforms and facilities [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '31 years | [7] | ' | ' | ||||
Transportation equipment [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment, gross | 133.1 | [8] | ' | 133.1 | [8] | ' | 136.2 | [8] | ||
Transportation equipment [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '3 years | [8] | ' | ' | ||||
Transportation equipment [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '10 years | [8] | ' | ' | ||||
Marine vessels [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment, gross | 721.5 | [9] | ' | 721.5 | [9] | ' | 695 | [9] | ||
Marine vessels [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '15 years | [9] | ' | ' | ||||
Marine vessels [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '30 years | [9] | ' | ' | ||||
Land [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment, gross | 176.1 | ' | 176.1 | ' | 167.2 | |||||
Construction in progress [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment, gross | $2,705.80 | ' | $2,705.80 | ' | $2,113.10 | |||||
Processing plants [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '20 years | ' | ' | |||||
Processing plants [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '35 years | ' | ' | |||||
Pipelines and related equipment [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '5 years | ' | ' | |||||
Pipelines and related equipment [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '45 years | ' | ' | |||||
Terminal facilities [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '10 years | ' | ' | |||||
Terminal facilities [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '35 years | ' | ' | |||||
Office furniture and equipment [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '3 years | ' | ' | |||||
Office furniture and equipment [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '20 years | ' | ' | |||||
Buildings [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '20 years | ' | ' | |||||
Buildings [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '40 years | ' | ' | |||||
Laboratory and shop equipment [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '5 years | ' | ' | |||||
Laboratory and shop equipment [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '35 years | ' | ' | |||||
Underground storage facilities [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '5 years | ' | ' | |||||
Underground storage facilities [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '35 years | ' | ' | |||||
Storage tanks [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '10 years | ' | ' | |||||
Storage tanks [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '40 years | ' | ' | |||||
Water wells [Member] | Minimum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '5 years | ' | ' | |||||
Water wells [Member] | Maximum [Member] | ' | ' | ' | ' | ' | |||||
Property, plant and equipment and accumulated depreciation [Abstract] | ' | ' | ' | ' | ' | |||||
Estimated useful life | ' | ' | '35 years | ' | ' | |||||
[1] | Depreciation expense is a component of "Costs and expenses" as presented on our Unaudited Condensed Statements of Consolidated Operations. | |||||||||
[2] | We capitalize interest costs incurred on funds used to construct property, plant and equipment while the asset is in its construction phase. The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset's estimated useful life as a component of depreciation expense. When capitalized interest is recorded, it reduces interest expense from what it would be otherwise. | |||||||||
[3] | Plants and pipelines include processing plants; NGL, natural gas, crude oil and petrochemical and refined products pipelines; terminal loading and unloading facilities; office furniture and equipment; buildings; laboratory and shop equipment and related assets. | |||||||||
[4] | In general, the estimated useful lives of major assets within this category are: processing plants, 20-35 years; pipelines and related equipment, 5-45 years; terminal facilities, 10-35 years; office furniture and equipment, 3-20 years; buildings, 20-40 years; and laboratory and shop equipment, 5-35 years. | |||||||||
[5] | Underground and other storage facilities include underground product storage caverns; above ground storage tanks; water wells and related assets. | |||||||||
[6] | In general, the estimated useful lives of assets within this category are: underground storage facilities, 5-35 years; storage tanks, 10-40 years; and water wells, 5-35 years. | |||||||||
[7] | Platforms and facilities include offshore platforms and related facilities and other associated assets located in the Gulf of Mexico. | |||||||||
[8] | Transportation equipment includes tractor-trailer tank trucks and other vehicles and similar assets used in our operations. | |||||||||
[9] | Marine vessels include tow boats, barges and related equipment used in our marine transportation business. |
Property_Plant_and_Equipment_S
Property, Plant and Equipment, Significant Sales (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Significant Acquisitions and Disposals [Line Items] | ' | ' |
Proceeds from asset sales and insurance recoveries | $256.30 | $1,167.40 |
Gains attributable to asset sales and insurance recoveries | 68.4 | 102.9 |
Seminole Pipeline segment [Member] | ' | ' |
Significant Acquisitions and Disposals [Line Items] | ' | ' |
Proceeds from asset sales and insurance recoveries | 86.9 | 0 |
Gains attributable to asset sales and insurance recoveries | $52.50 | $0 |
Investments_in_Unconsolidated_2
Investments in Unconsolidated Affiliates (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 18, 2012 | Apr. 27, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | ||||||||
NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | NGL Pipelines and Services [Member] | Onshore Natural Gas Pipelines And Services [Member] | Onshore Natural Gas Pipelines And Services [Member] | Onshore Natural Gas Pipelines And Services [Member] | Onshore Natural Gas Pipelines And Services [Member] | Onshore Natural Gas Pipelines And Services [Member] | Onshore Natural Gas Pipelines And Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Onshore Crude Oil Pipelines and Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Offshore Pipelines And Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Petrochemical and Refined Products Services [Member] | Other Investment [Member] | Other Investment [Member] | Other Investment [Member] | Other Investment [Member] | Other Investment [Member] | Other Investment [Member] | Other Investment [Member] | Other Investment [Member] | ||||||||||||||
Venice Energy Service Company LLC [Member] | Venice Energy Service Company LLC [Member] | K/D/S Promix, LLC [Member] | K/D/S Promix, LLC [Member] | Baton Rouge Fractionators LLC [Member] | Baton Rouge Fractionators LLC [Member] | Skelly-Belvieu Pipeline Company, LLC [Member] | Skelly-Belvieu Pipeline Company, LLC [Member] | Texas Express Pipeline LLC [Member] | Texas Express Pipeline LLC [Member] | Texas Express Gathering LLC [Member] | Texas Express Gathering LLC [Member] | Front Range Pipeline LLC [Member] | Front Range Pipeline LLC [Member] | White River Hub, LLC [Member] | White River Hub, LLC [Member] | Seaway Crude Pipeline Company LLC [Member] | Seaway Crude Pipeline Company LLC [Member] | Eagle Ford Pipeline LLC [Member] | Eagle Ford Pipeline LLC [Member] | Poseidon Oil Pipeline Company, LLC [Member] | Poseidon Oil Pipeline Company, LLC [Member] | Cameron Highway Oil Pipeline Company [Member] | Cameron Highway Oil Pipeline Company [Member] | Deepwater Gateway LLC [Member] | Deepwater Gateway LLC [Member] | Neptune Pipeline Company, LLC [Member] | Neptune Pipeline Company, LLC [Member] | Southeast Keathley Canyon Pipeline Company, LLC [Member] | Southeast Keathley Canyon Pipeline Company, LLC [Member] | Baton Rouge Propylene Concentrator, LLC [Member] | Baton Rouge Propylene Concentrator, LLC [Member] | Centennial Pipeline LLC [Member] | Centennial Pipeline LLC [Member] | Other Unconsolidated Affiliates [Member] | Other Unconsolidated Affiliates [Member] | Energy Transfer Equity [Member] | Energy Transfer Equity [Member] | Energy Transfer Equity [Member] | Energy Transfer Equity [Member] | ||||||||||||||||||||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Ownership Interest (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.10% | ' | 50.00% | ' | 32.20% | ' | 50.00% | ' | 35.00% | [1] | ' | 45.00% | [1] | ' | 33.30% | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | 50.00% | ' | 50.00% | [2] | ' | ' | ' | ' | ' | ' | 36.00% | ' | 50.00% | ' | 50.00% | ' | 25.70% | ' | 50.00% | ' | ' | ' | ' | ' | ' | 30.00% | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.10% | |||||
Investments in unconsolidated affiliates | $2,134.50 | ' | $2,134.50 | ' | $1,394.60 | ' | ' | ' | ' | ' | $28.10 | $29.60 | $44.40 | $46.90 | $19.30 | $20.20 | $40.50 | $38.20 | $328.50 | [1] | $144.40 | [1] | $34.60 | [1] | $20.90 | [1] | $111.80 | $24.40 | ' | ' | ' | ' | $24.30 | $24.90 | ' | ' | ' | ' | ' | $677.20 | $341.40 | $212.40 | [2] | $152.40 | [2] | ' | ' | ' | ' | ' | $43.40 | $47.30 | $209.90 | $220 | $86.20 | $90 | $43.70 | $46.80 | $157.20 | $74.90 | ' | ' | ' | ' | ' | $7.80 | $8.50 | $62.30 | $60.80 | $2.90 | [3] | $3 | [3] | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in income (loss) of unconsolidated affiliates by business segment [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Equity in income (loss) of unconsolidated affiliates | 44 | 21 | 126.1 | 42.2 | ' | 4.1 | 3 | 11.8 | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 0.9 | 2.9 | 3.5 | ' | ' | 34.3 | 16.5 | 101 | 20.6 | ' | ' | ' | ' | ' | 9.8 | 6.8 | 24.9 | 17.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.2 | -6.2 | -14.5 | -14.1 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 2.4 | ' | ' | ' | ' | ||||||||
Unamortized excess cost amounts by business segment [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Unamortized excess cost amounts | 61.2 | ' | 61.2 | ' | 63.7 | 28 | ' | 28 | ' | 28.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | ' | 18 | ' | 18.5 | ' | ' | ' | ' | 12.6 | ' | 12.6 | ' | 13.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.6 | ' | 2.6 | ' | 2.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Equity method investment amortization of excess cost | 0.8 | 0.7 | 2.5 | 2.5 | ' | 0.3 | 0.2 | 0.9 | 0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.2 | 0.5 | 0.5 | ' | ' | ' | ' | ' | 0.3 | 0.3 | 1 | 0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0 | 0.1 | 0.1 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0.3 | ' | ' | ' | ' | ||||||||
Number of common units owned accounted for under equity method (in units) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,303,514 | ||||||||
Number of Energy Transfer Equity common units sold (in units) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,762,636 | ' | ' | ' | ||||||||
Proceeds from the sale of Energy Transfer Equity common units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 825.1 | ' | ' | ' | ||||||||
Investment in equity securities - available-for-sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Number of Energy Transfer Equity common units sold (in units) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,540,878 | ' | ' | ||||||||
Proceeds from the sale of available-for-sale securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 270.2 | ' | ' | ||||||||
Gain on sales of Energy Transfer Equity common units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $27.50 | $41.30 | $68.80 | ' | ||||||||
[1] | Planned principal operations commenced in November 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Planned principal operations commenced in July 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Other unconsolidated affiliates include a 50% interest in a propylene pipeline extending from Mont Belvieu, Texas to La Porte, Texas and a 25% interest in a company that provides logistics communications solutions between petroleum pipelines and their customers. |
Intangible_Assets_and_Goodwill2
Intangible Assets and Goodwill, Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | $2,612.20 | ' | $2,612.20 | ' | $2,616.80 |
Accumulated Amortization | -1,124.60 | ' | -1,124.60 | ' | -1,050 |
Carrying Value | 1,487.60 | ' | 1,487.60 | ' | 1,566.80 |
Amortization Expense | 26.6 | 32.3 | 80.2 | 95.9 | ' |
Forecasted amortization expense [Abstract] | ' | ' | ' | ' | ' |
Remainder of 2013 | 25.5 | ' | 25.5 | ' | ' |
2014 | 96.3 | ' | 96.3 | ' | ' |
2015 | 90.4 | ' | 90.4 | ' | ' |
2016 | 92.1 | ' | 92.1 | ' | ' |
2017 | 96.1 | ' | 96.1 | ' | ' |
NGL Pipelines & Services [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 622.1 | ' | 622.1 | ' | 625.4 |
Accumulated Amortization | -328.2 | ' | -328.2 | ' | -304.8 |
Carrying Value | 293.9 | ' | 293.9 | ' | 320.6 |
Amortization Expense | 8.6 | 10.1 | 27.7 | 29.9 | ' |
NGL Pipelines & Services [Member] | Customer relationship intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 340.8 | ' | 340.8 | ' | 340.8 |
Accumulated Amortization | -161.3 | ' | -161.3 | ' | -147.6 |
Carrying Value | 179.5 | ' | 179.5 | ' | 193.2 |
NGL Pipelines & Services [Member] | Contract-based intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 281.3 | ' | 281.3 | ' | 284.6 |
Accumulated Amortization | -166.9 | ' | -166.9 | ' | -157.2 |
Carrying Value | 114.4 | ' | 114.4 | ' | 127.4 |
Onshore Natural Gas Pipelines & Services [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 1,629.70 | ' | 1,629.70 | ' | 1,629.70 |
Accumulated Amortization | -599.8 | ' | -599.8 | ' | -561.8 |
Carrying Value | 1,029.90 | ' | 1,029.90 | ' | 1,067.90 |
Amortization Expense | 13.3 | 16.8 | 38 | 48.4 | ' |
Onshore Natural Gas Pipelines & Services [Member] | Customer relationship intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 1,163.60 | ' | 1,163.60 | ' | 1,163.60 |
Accumulated Amortization | -273.8 | ' | -273.8 | ' | -250 |
Carrying Value | 889.8 | ' | 889.8 | ' | 913.6 |
Onshore Natural Gas Pipelines & Services [Member] | Contract-based intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 466.1 | ' | 466.1 | ' | 466.1 |
Accumulated Amortization | -326 | ' | -326 | ' | -311.8 |
Carrying Value | 140.1 | ' | 140.1 | ' | 154.3 |
Onshore Crude Oil Pipelines & Services [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 11.1 | ' | 11.1 | ' | 11.1 |
Accumulated Amortization | -6.2 | ' | -6.2 | ' | -5.2 |
Carrying Value | 4.9 | ' | 4.9 | ' | 5.9 |
Amortization Expense | 0.3 | 0.2 | 1 | 0.5 | ' |
Onshore Crude Oil Pipelines & Services [Member] | Customer relationship intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 10.7 | ' | 10.7 | ' | 10.7 |
Accumulated Amortization | -5.9 | ' | -5.9 | ' | -4.9 |
Carrying Value | 4.8 | ' | 4.8 | ' | 5.8 |
Onshore Crude Oil Pipelines & Services [Member] | Contract-based intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 0.4 | ' | 0.4 | ' | 0.4 |
Accumulated Amortization | -0.3 | ' | -0.3 | ' | -0.3 |
Carrying Value | 0.1 | ' | 0.1 | ' | 0.1 |
Offshore Pipelines & Services [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 205.1 | ' | 205.1 | ' | 205.1 |
Accumulated Amortization | -147.7 | ' | -147.7 | ' | -138.9 |
Carrying Value | 57.4 | ' | 57.4 | ' | 66.2 |
Amortization Expense | 2.9 | 3.1 | 8.8 | 8.3 | ' |
Offshore Pipelines & Services [Member] | Customer relationship intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 203.9 | ' | 203.9 | ' | 203.9 |
Accumulated Amortization | -147.3 | ' | -147.3 | ' | -138.5 |
Carrying Value | 56.6 | ' | 56.6 | ' | 65.4 |
Offshore Pipelines & Services [Member] | Contract-based intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 1.2 | ' | 1.2 | ' | 1.2 |
Accumulated Amortization | -0.4 | ' | -0.4 | ' | -0.4 |
Carrying Value | 0.8 | ' | 0.8 | ' | 0.8 |
Petrochemical & Refined Products Services [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 144.2 | ' | 144.2 | ' | 145.5 |
Accumulated Amortization | -42.7 | ' | -42.7 | ' | -39.3 |
Carrying Value | 101.5 | ' | 101.5 | ' | 106.2 |
Amortization Expense | 1.5 | 2.1 | 4.7 | 8.8 | ' |
Petrochemical & Refined Products Services [Member] | Customer relationship intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 104.3 | ' | 104.3 | ' | 104.3 |
Accumulated Amortization | -37.1 | ' | -37.1 | ' | -33.4 |
Carrying Value | 67.2 | ' | 67.2 | ' | 70.9 |
Petrochemical & Refined Products Services [Member] | Contract-based intangibles [Member] | ' | ' | ' | ' | ' |
Identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Gross Value | 39.9 | ' | 39.9 | ' | 41.2 |
Accumulated Amortization | -5.6 | ' | -5.6 | ' | -5.9 |
Carrying Value | $34.30 | ' | $34.30 | ' | $35.30 |
Intangible_Assets_and_Goodwill3
Intangible Assets and Goodwill, Goodwill (Details) (USD $) | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | |
Changes in carrying amount of goodwill [Roll Forward] | ' | ' | |
Balance at beginning of period | $2,086.80 | [1] | ' |
Goodwill related to the sale of assets | -6.8 | ' | |
Balance at end of period | 2,080 | [1] | ' |
Accumulated impairment charges | 1.3 | 1.3 | |
NGL Pipelines & Services [Member] | ' | ' | |
Changes in carrying amount of goodwill [Roll Forward] | ' | ' | |
Balance at beginning of period | 341.2 | [1] | ' |
Goodwill related to the sale of assets | 0 | ' | |
Balance at end of period | 341.2 | [1] | ' |
Onshore Natural Gas Pipelines & Services [Member] | ' | ' | |
Changes in carrying amount of goodwill [Roll Forward] | ' | ' | |
Balance at beginning of period | 296.3 | [1] | ' |
Goodwill related to the sale of assets | 0 | ' | |
Balance at end of period | 296.3 | [1] | ' |
Onshore Crude Oil Pipelines & Services [Member] | ' | ' | |
Changes in carrying amount of goodwill [Roll Forward] | ' | ' | |
Balance at beginning of period | 311.2 | [1] | ' |
Goodwill related to the sale of assets | -6.1 | ' | |
Balance at end of period | 305.1 | [1] | ' |
Offshore Pipelines & Services [Member] | ' | ' | |
Changes in carrying amount of goodwill [Roll Forward] | ' | ' | |
Balance at beginning of period | 82.1 | [1] | ' |
Goodwill related to the sale of assets | 0 | ' | |
Balance at end of period | 82.1 | [1] | ' |
Petrochemical & Refined Products Services [Member] | ' | ' | |
Changes in carrying amount of goodwill [Roll Forward] | ' | ' | |
Balance at beginning of period | 1,056 | [1] | ' |
Goodwill related to the sale of assets | -0.7 | ' | |
Balance at end of period | $1,055.30 | [1] | ' |
[1] | The total carrying amount of goodwill at September 30, 2013 and December 31, 2012 is net of $1.3 million of accumulated impairment charges. No goodwill impairment charges were recorded during the nine months ended September 30, 2013. |
Debt_Obligations_Details
Debt Obligations (Details) (USD $) | 1 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | $17,532.70 | $16,179.30 | ||
Other, non-principal amounts: | ' | ' | ' | ||
Change in fair value of debt hedged in fair value hedging relationship | ' | 28.9 | [1] | 39.3 | [1] |
Unamortized discounts, net of premiums | ' | -41.9 | -38 | ||
Other | ' | 11.8 | 21.2 | ||
Total other, non-principal amounts | ' | -1.2 | 22.5 | ||
Less current maturities of debt | ' | -1,049.90 | [2] | -1,546.60 | [2] |
Total long-term debt | ' | 16,481.60 | 14,655.20 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Letters of credit outstanding for facilities and motor fuel tax obligations | ' | 2.5 | ' | ||
Senior Debt Obligations [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 16,000 | 14,646.60 | ||
Senior Debt Obligations [Member] | Commercial Paper Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 550 | [3] | 346.6 | [3] |
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Maturity Date | ' | 19-Jun-18 | ' | ||
Senior Debt Obligations [Member] | Commercial Paper Notes [Member] | Minimum [Member] | ' | ' | ' | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 0.26% | ' | ||
Senior Debt Obligations [Member] | Commercial Paper Notes [Member] | Maximum [Member] | ' | ' | ' | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 0.29% | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes C [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0 | 350 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.38% | ' | ||
Maturity Date | ' | 1-Feb-13 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes T [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0 | 182.5 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.13% | ' | ||
Maturity Date | ' | 1-Feb-13 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes M [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0 | 400 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.65% | ' | ||
Maturity Date | ' | 1-Apr-13 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes U [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0 | 237.6 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.90% | ' | ||
Maturity Date | ' | 15-Apr-13 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes O [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 500 | 500 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 9.75% | ' | ||
Maturity Date | ' | 31-Jan-14 | ' | ||
Senior Debt Obligations [Member] | EPO 364 Day Credit Agreement [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0 | 0 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'variable | ' | ||
Maturity Date | ' | 18-Jun-14 | ' | ||
Maximum borrowing capacity | ' | 1,000 | ' | ||
Length of extensions to maturity date (in years) | ' | '1 year | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes G [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 650 | 650 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.60% | ' | ||
Maturity Date | ' | 15-Oct-14 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes I [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 250 | 250 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.00% | ' | ||
Maturity Date | ' | 1-Mar-15 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes X [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 400 | 400 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 3.70% | ' | ||
Maturity Date | ' | 1-Jun-15 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes FF [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 650 | 650 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 1.25% | ' | ||
Maturity Date | ' | 13-Aug-15 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes AA [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 750 | 750 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 3.20% | ' | ||
Maturity Date | ' | 1-Feb-16 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes L [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 800 | 800 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.30% | ' | ||
Maturity Date | ' | 1-Sep-17 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes V [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 349.7 | 349.7 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.65% | ' | ||
Maturity Date | ' | 15-Apr-18 | ' | ||
Senior Debt Obligations [Member] | EPO $3.5 Billion Multi-Year Revolving Credit Facility [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 100 | 0 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'variable | ' | ||
Maturity Date | ' | 19-Jun-18 | ' | ||
Information regarding variable interest rates paid [Abstract] | ' | ' | ' | ||
Variable Interest Rates Paid, Minimum (in hundredths) | ' | 1.15% | ' | ||
Variable Interest Rates Paid, Maximum (in hundredths) | ' | 1.51% | ' | ||
Weighted-Average Interest Rate Paid (in hundredths) | ' | 1.31% | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes N [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 700 | 700 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.50% | ' | ||
Maturity Date | ' | 31-Jan-19 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes Q [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 500 | 500 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.25% | ' | ||
Maturity Date | ' | 31-Jan-20 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes Y [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 1,000 | 1,000 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.20% | ' | ||
Maturity Date | ' | 1-Sep-20 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes CC [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 650 | 650 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 4.05% | ' | ||
Maturity Date | ' | 15-Feb-22 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes HH [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 1,250 | 0 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 3.35% | ' | ||
Maturity Date | ' | 1-Mar-23 | ' | ||
Aggregate debt principal issued | 1,250 | ' | ' | ||
Maturity term (in years) | ' | '10 | ' | ||
Debt issued as percent of principal amount (in hundredths) | 99.91% | ' | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes D [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 500 | 500 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.88% | ' | ||
Maturity Date | ' | 1-Mar-33 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes H [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 350 | 350 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.65% | ' | ||
Maturity Date | ' | 15-Oct-34 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes J [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 250 | 250 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.75% | ' | ||
Maturity Date | ' | 1-Mar-35 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes W [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 399.6 | 399.6 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 7.55% | ' | ||
Maturity Date | ' | 15-Apr-38 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes R [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 600 | 600 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.13% | ' | ||
Maturity Date | ' | 15-Oct-39 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes Z [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 600 | 600 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.45% | ' | ||
Maturity Date | ' | 1-Sep-40 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes BB [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 750 | 750 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.95% | ' | ||
Maturity Date | ' | 1-Feb-41 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes DD [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 600 | 600 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.70% | ' | ||
Maturity Date | ' | 15-Feb-42 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes EE [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 750 | 750 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 4.85% | ' | ||
Maturity Date | ' | 15-Aug-42 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes GG [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 1,100 | 1,100 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 4.45% | ' | ||
Maturity Date | ' | 15-Feb-43 | ' | ||
Senior Debt Obligations [Member] | EPO Senior Notes II [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 1,000 | 0 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 4.85% | ' | ||
Maturity Date | ' | 15-Mar-44 | ' | ||
Aggregate debt principal issued | 1,000 | ' | ' | ||
Maturity term (in years) | ' | '31 | ' | ||
Debt issued as percent of principal amount (in hundredths) | 99.62% | ' | ' | ||
Senior Debt Obligations [Member] | TEPPCO Senior Notes 2 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0 | 17.5 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.13% | ' | ||
Maturity Date | ' | 1-Feb-13 | ' | ||
Senior Debt Obligations [Member] | TEPPCO Senior Notes 3 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0 | 12.4 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 5.90% | ' | ||
Maturity Date | ' | 15-Apr-13 | ' | ||
Senior Debt Obligations [Member] | TEPPCO Senior Notes 4 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0.3 | 0.3 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 6.65% | ' | ||
Maturity Date | ' | 15-Apr-18 | ' | ||
Senior Debt Obligations [Member] | TEPPCO Senior Notes 5 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 0.4 | 0.4 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed | ' | ||
Interest Rate, stated percentage (in hundredths) | ' | 7.55% | ' | ||
Maturity Date | ' | 15-Apr-38 | ' | ||
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes A [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 550 | 550 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed/variable | ' | ||
Maturity Date | ' | 31-Aug-66 | ' | ||
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes C [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 285.8 | 285.8 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed/variable | ' | ||
Maturity Date | ' | 1-Jun-67 | ' | ||
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes B [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | 682.7 | 682.7 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed/variable | ' | ||
Maturity Date | ' | 15-Jan-68 | ' | ||
Junior Debt Obligations [Member] | TEPPCO Junior Subordinated Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal Outstanding | ' | $14.20 | $14.20 | ||
Debt Obligations Terms [Abstract] | ' | ' | ' | ||
Interest Rate Terms | ' | 'fixed/variable | ' | ||
Maturity Date | ' | 1-Jun-67 | ' | ||
[1] | See Note 4 for information regarding our interest rate hedging activities. | ||||
[2] | We expect to refinance the current maturities of our debt obligations at or prior to their maturity. | ||||
[3] | Principal amounts outstanding at September 30, 2013 have fixed-rates ranging from 0.26% and 0.29% and are due in October 2013. |
Debt_Obligations_Debt_Maturiti
Debt Obligations, Debt Maturities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Scheduled Maturities of Debt [Abstract] | ' | ' |
Remainder of 2013 | $550 | ' |
2014 | 1,150 | ' |
2015 | 1,300 | ' |
2016 | 750 | ' |
2017 | 800 | ' |
After 2017 | 12,982.70 | ' |
Total | 17,532.70 | 16,179.30 |
Commercial Paper [Member] | ' | ' |
Scheduled Maturities of Debt [Abstract] | ' | ' |
Remainder of 2013 | 550 | ' |
2014 | 0 | ' |
2015 | 0 | ' |
2016 | 0 | ' |
2017 | 0 | ' |
After 2017 | 0 | ' |
Total | 550 | ' |
Multi-Year Revolving Credit Facility [Member] | ' | ' |
Scheduled Maturities of Debt [Abstract] | ' | ' |
Remainder of 2013 | 0 | ' |
2014 | 0 | ' |
2015 | 0 | ' |
2016 | 0 | ' |
2017 | 0 | ' |
After 2017 | 100 | ' |
Total | 100 | ' |
Senior Notes [Member] | ' | ' |
Scheduled Maturities of Debt [Abstract] | ' | ' |
Remainder of 2013 | 0 | ' |
2014 | 1,150 | ' |
2015 | 1,300 | ' |
2016 | 750 | ' |
2017 | 800 | ' |
After 2017 | 11,350 | ' |
Total | 15,350 | ' |
Junior Subordinated Notes [Member] | ' | ' |
Scheduled Maturities of Debt [Abstract] | ' | ' |
Remainder of 2013 | 0 | ' |
2014 | 0 | ' |
2015 | 0 | ' |
2016 | 0 | ' |
2017 | 0 | ' |
After 2017 | 1,532.70 | ' |
Total | $1,532.70 | ' |
Equity_and_Distributions_Detai
Equity and Distributions (Details) (USD $) | 1 Months Ended | 9 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
Enterprise EF78 LLC[Member] | Enterprise EF78 LLC[Member] | Class B units [Member] | Class B units [Member] | Treasury Units [Member] | |
Mergers [Line Items] | ' | ' | ' | ' | ' |
Units outstanding (in units) | ' | ' | ' | 4,520,431 | ' |
Conversion and reclassification of Class B units to common units (in units) | ' | ' | 4,520,431 | ' | ' |
Treasury Units [Abstract] | ' | ' | ' | ' | ' |
Conversion of restricted units and similar awards to common units (in units) | ' | ' | ' | ' | 1,846,198 |
Acquisition of treasury units in connection with vesting of equity-based awards (in units) | ' | ' | ' | ' | 618,317 |
Total cost of treasury units | ' | ' | ' | ' | $36.10 |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | 75.00% | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | 25.00% | ' | ' | ' |
Initial contribution from joint venture partner | $90.20 | ' | ' | ' | ' |
Equity_and_Distributions_Summa
Equity and Distributions, Summary of Changes in Outstanding Units (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Common Units (Unrestricted) [Member] | ' |
Summary of changes in outstanding units [Roll Forward] | ' |
Number of units outstanding at December 31, 2012 (in units) | 894,919,851 |
Common units issued in connection with underwritten offering (in units) | 9,200,000 |
Common units issued in connection with our at-the-market program (in units) | 7,284,807 |
Common units issued in connection with our DRIP and EUPP (in units) | 3,760,154 |
Common units issued in connection with the vesting of unit options (in units) | 200,882 |
Common units issued in connection with the vesting of restricted common unit awards (in units) | 1,846,198 |
Conversion and reclassification of Class B units to common units (in units) | 4,520,431 |
Restricted common units awards issued (in units) | 0 |
Forfeiture of restricted common unit awards (in units) | 0 |
Acquisition and cancellation of treasury units in connection with the vesting of equity-based awards (in units) | -618,317 |
Number of units outstanding at September 30, 2013 | 921,114,006 |
Restricted Common Units [Member] | ' |
Summary of changes in outstanding units [Roll Forward] | ' |
Number of units outstanding at December 31, 2012 (in units) | 3,893,486 |
Common units issued in connection with underwritten offering (in units) | 0 |
Common units issued in connection with our at-the-market program (in units) | 0 |
Common units issued in connection with our DRIP and EUPP (in units) | 0 |
Common units issued in connection with the vesting of unit options (in units) | 0 |
Common units issued in connection with the vesting of restricted common unit awards (in units) | -1,846,198 |
Conversion and reclassification of Class B units to common units (in units) | 0 |
Restricted common units awards issued (in units) | 1,769,076 |
Forfeiture of restricted common unit awards (in units) | -159,832 |
Acquisition and cancellation of treasury units in connection with the vesting of equity-based awards (in units) | 0 |
Number of units outstanding at September 30, 2013 | 3,656,532 |
Common units [Member] | ' |
Summary of changes in outstanding units [Roll Forward] | ' |
Number of units outstanding at December 31, 2012 (in units) | 898,813,337 |
Common units issued in connection with underwritten offering (in units) | 9,200,000 |
Common units issued in connection with our at-the-market program (in units) | 7,284,807 |
Common units issued in connection with our DRIP and EUPP (in units) | 3,760,154 |
Common units issued in connection with the vesting of unit options (in units) | 200,882 |
Common units issued in connection with the vesting of restricted common unit awards (in units) | 0 |
Conversion and reclassification of Class B units to common units (in units) | 4,520,431 |
Restricted common units awards issued (in units) | 1,769,076 |
Forfeiture of restricted common unit awards (in units) | -159,832 |
Acquisition and cancellation of treasury units in connection with the vesting of equity-based awards (in units) | -618,317 |
Number of units outstanding at September 30, 2013 | 924,770,538 |
Equity_and_Distributions_Issua
Equity and Distributions, Issuances of Equity (Details) (USD $) | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 1 Months Ended | 0 Months Ended | 9 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 07, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Mar. 31, 2013 | Feb. 28, 2013 | Oct. 14, 2013 | Sep. 30, 2013 | Oct. 14, 2013 | Oct. 15, 2013 |
EPCO and affiliates [Member] | Distribution Reinvestment Plan [Member] | Distribution Reinvestment Plan [Member] | Distribution Reinvestment Plan [Member] | Distribution Reinvestment Plan [Member] | Employee Unit Purchase Plan [Member] | Employee Unit Purchase Plan [Member] | Employee Unit Purchase Plan [Member] | Shelf Registration 2010 [Member] | Shelf Registration 2010 [Member] | 2012 At-the-Market Registration [Member] | 2012 At-the-Market Registration [Member] | 2012 At-the-Market Registration [Member] | 2013 At-the-Market Registration [Member] | |||
EPCO and affiliates [Member] | EPCO and affiliates [Member] | |||||||||||||||
Registration Statements and Equity Offerings [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum common units authorized for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 | ' | $1,250 |
Remaining units available for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 334.2 | ' | 334.2 | 1,250 |
Maximum common units authorized for issuance (in units) | ' | ' | ' | 70,000,000 | ' | ' | ' | 4,000,000 | ' | 440,879 | ' | ' | ' | ' | ' | ' |
Remaining units available for issuance (in units) | ' | ' | ' | 19,843,969 | ' | ' | ' | 3,744,326 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Cash Proceeds from Sale of Common Units [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common units issued (in units) | ' | ' | ' | 3,649,323 | 1,905,797 | ' | 1,331,774 | 110,831 | 102,469 | ' | ' | 9,200,000 | 339,882 | 7,284,807 | 7,624,689 | ' |
Over-allotment of common units included in offering (in units) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' |
Offering price of common unit (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $54.56 | ' | ' | ' | ' |
Gross proceeds from the sale of common units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 460.4 | ' |
Net cash proceeds from issuance of common units | 1,134.70 | 658.6 | ' | 206 | 93.6 | 25 | 75 | 6.6 | 5.4 | ' | ' | 486.6 | 20.8 | 435.5 | 456.3 | ' |
Senior notes issued under universal shelf registration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,250 | ' | ' | ' | ' | ' |
Percentage of Total Units Outstanding (in hundredths) | ' | ' | 36.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_and_Distributions_Recla
Equity and Distributions, Reclassfications out of Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Interest expense | $208.30 | $199.70 | $604.40 | $572.80 |
Revenue | -12,093.30 | -10,468.70 | -34,625.70 | -31,511 |
Operating costs and expenses | 11,273.50 | 9,659.80 | 32,061.10 | 29,136.50 |
Total | -592.8 | -587.9 | -1,901.40 | -1,810.60 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges [Member] | ' | ' | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Total | 22.3 | ' | 36.1 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges [Member] | Interest rate derivatives [Member] | ' | ' | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Interest expense | 7.7 | ' | 21.4 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges [Member] | Commodity derivatives [Member] | ' | ' | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Revenue | 14.6 | ' | 15.1 | ' |
Operating costs and expenses | $0 | ' | ($0.40) | ' |
Equity_and_Distributions_Distr
Equity and Distributions, Distributions (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Cash Distribution [Member] | Cash Distribution [Member] | Cash Distribution [Member] | Cash Distribution [Member] | Cash Distribution [Member] | Cash Distribution [Member] | ||
First Quarter 2013 Distribution [Member] | First Quarter 2013 Distribution [Member] | Second Quarter 2013 Distribution [Member] | Second Quarter 2013 Distribution [Member] | Third Quarter 2013 Distribution [Member] | Third Quarter 2013 Distribution [Member] | ||
Distributions to Partners [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Distribution Per Common Unit (in dollars per unit) | ' | $0.67 | ' | $0.68 | ' | $0.69 | ' |
Record Date | ' | ' | 30-Apr-13 | ' | 31-Jul-13 | ' | 31-Oct-13 |
Payment Date | ' | ' | 7-May-13 | ' | 7-Aug-13 | ' | 7-Nov-13 |
Number of Designated Units to be excluded from distributions during 2013 | 23,700,000 | ' | ' | ' | ' | ' | ' |
Number of Designated Units to be excluded from distributions during 2014 | 22,560,000 | ' | ' | ' | ' | ' | ' |
Number of Designated Units to be excluded from distributions during 2015 | 17,690,000 | ' | ' | ' | ' | ' | ' |
Business_Segments_Details
Business Segments (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
SegmentINF | ||||
Business Segments [Abstract] | ' | ' | ' | ' |
Number of reportable segments | ' | ' | 5 | ' |
Segment Gross Operating Margin [Abstract] | ' | ' | ' | ' |
Revenues | $12,093.30 | $10,468.70 | $34,625.70 | $31,511 |
Less: Operating costs and expenses | -11,273.50 | -9,659.80 | -32,061.10 | -29,136.50 |
Add: Equity in income of unconsolidated affiliates | 44 | 21 | 126.1 | 42.2 |
Depreciation, amortization and accretion | 285.2 | 269.2 | 851.7 | 785.1 |
Non-cash asset impairment charges | 15.2 | 43.1 | 53.3 | 57.6 |
Gains attributable to asset sales and insurance recoveries | -10.2 | -2.6 | -68.4 | -34.1 |
Total segment gross operating margin | 1,154 | 1,139.60 | 3,527.30 | 3,225.30 |
Reconciliation of total Segment Gross Operating Margin [Abstract] | ' | ' | ' | ' |
Total segment gross operating margin | 1,154 | 1,139.60 | 3,527.30 | 3,225.30 |
Amounts included in operating costs and expenses [Abstract] | ' | ' | ' | ' |
Depreciation, amortization and accretion | -285.2 | -269.2 | -851.7 | -785.1 |
Non-cash asset impairment charges | -15.2 | -43.1 | -53.3 | -57.6 |
Gains attributable to asset sales and insurance recoveries | 10.2 | 2.6 | 68.4 | 34.1 |
General and administrative costs | -43.9 | -41.4 | -138.9 | -130.2 |
Operating income | 819.9 | 788.5 | 2,551.80 | 2,286.50 |
Other expense, net | -207.7 | -198.2 | -604.2 | -499.4 |
Income before income taxes | $612.20 | $590.30 | $1,947.60 | $1,787.10 |
Business_Segments_Segment_Repo
Business Segments, Segment Reporting Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues from third parties | $12,085.60 | $10,461.20 | $34,605.40 | $31,447.10 | ' | |||
Revenues from related parties | 7.7 | 7.5 | 20.3 | 63.9 | ' | |||
Revenues | 12,093.30 | 10,468.70 | 34,625.70 | 31,511 | ' | |||
Equity in income (loss) of unconsolidated affiliates | 44 | 21 | 126.1 | 42.2 | ' | |||
Gross operating margin | 1,154 | 1,139.60 | 3,527.30 | 3,225.30 | ' | |||
Property, plant and equipment, net (see Note 6) | 26,453.90 | ' | 26,453.90 | ' | 24,846.40 | |||
Investments in unconsolidated affiliates (see Note 7) | 2,134.50 | ' | 2,134.50 | ' | 1,394.60 | |||
Intangible assets, net: (see Note 8) | 1,487.60 | ' | 1,487.60 | ' | 1,566.80 | |||
Goodwill: (see Note 8) | 2,080 | [1] | ' | 2,080 | [1] | ' | 2,086.80 | [1] |
Segment assets | 32,156 | ' | 32,156 | ' | 29,894.60 | |||
NGL Pipelines and Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues from third parties | 4,230.60 | 3,389.60 | 11,686 | 11,071.60 | ' | |||
Revenues from related parties | 0.1 | 2.2 | 0.6 | 7.2 | ' | |||
Revenues | 4,230.70 | 3,391.80 | 11,686.60 | 11,078.80 | ' | |||
Equity in income (loss) of unconsolidated affiliates | 4.1 | 3 | 11.8 | 12 | ' | |||
Gross operating margin | 639.6 | 615.8 | 1,777 | 1,836.50 | ' | |||
Property, plant and equipment, net (see Note 6) | 9,529 | ' | 9,529 | ' | 8,494.80 | |||
Investments in unconsolidated affiliates (see Note 7) | 607.2 | ' | 607.2 | ' | 324.6 | |||
Intangible assets, net: (see Note 8) | 293.9 | ' | 293.9 | ' | 320.6 | |||
Goodwill: (see Note 8) | 341.2 | [1] | ' | 341.2 | [1] | ' | 341.2 | [1] |
Segment assets | 10,771.30 | ' | 10,771.30 | ' | 9,481.20 | |||
Onshore Natural Gas Pipelines And Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues from third parties | 831.4 | 843.3 | 2,658.60 | 2,349.10 | ' | |||
Revenues from related parties | 4.1 | 3.2 | 12.1 | 51.4 | ' | |||
Revenues | 835.5 | 846.5 | 2,670.70 | 2,400.50 | ' | |||
Equity in income (loss) of unconsolidated affiliates | 1 | 0.9 | 2.9 | 3.5 | ' | |||
Gross operating margin | 213.4 | 183.5 | 601.9 | 565.5 | ' | |||
Property, plant and equipment, net (see Note 6) | 8,892.50 | ' | 8,892.50 | ' | 8,950.10 | |||
Investments in unconsolidated affiliates (see Note 7) | 24.3 | ' | 24.3 | ' | 24.9 | |||
Intangible assets, net: (see Note 8) | 1,029.90 | ' | 1,029.90 | ' | 1,067.90 | |||
Goodwill: (see Note 8) | 296.3 | [1] | ' | 296.3 | [1] | ' | 296.3 | [1] |
Segment assets | 10,243 | ' | 10,243 | ' | 10,339.20 | |||
Onshore Crude Oil Pipelines and Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues from third parties | 5,435.40 | 4,505.10 | 15,358.10 | 13,167.40 | ' | |||
Revenues from related parties | 2.1 | 0.1 | 2.1 | 0.1 | ' | |||
Revenues | 5,437.50 | 4,505.20 | 15,360.20 | 13,167.50 | ' | |||
Equity in income (loss) of unconsolidated affiliates | 34.3 | 16.5 | 101 | 20.6 | ' | |||
Gross operating margin | 146 | 117.6 | 579.6 | 252.7 | ' | |||
Property, plant and equipment, net (see Note 6) | 1,455 | ' | 1,455 | ' | 1,385.90 | |||
Investments in unconsolidated affiliates (see Note 7) | 889.6 | ' | 889.6 | ' | 493.8 | |||
Intangible assets, net: (see Note 8) | 4.9 | ' | 4.9 | ' | 5.9 | |||
Goodwill: (see Note 8) | 305.1 | [1] | ' | 305.1 | [1] | ' | 311.2 | [1] |
Segment assets | 2,654.60 | ' | 2,654.60 | ' | 2,196.80 | |||
Offshore Pipelines And Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues from third parties | 38.2 | 43.2 | 118 | 145.1 | ' | |||
Revenues from related parties | 1.4 | 2 | 5.5 | 5.2 | ' | |||
Revenues | 39.6 | 45.2 | 123.5 | 150.3 | ' | |||
Equity in income (loss) of unconsolidated affiliates | 9.8 | 6.8 | 24.9 | 17.8 | ' | |||
Gross operating margin | 37.9 | 40.6 | 118.1 | 131 | ' | |||
Property, plant and equipment, net (see Note 6) | 1,244.50 | ' | 1,244.50 | ' | 1,343 | |||
Investments in unconsolidated affiliates (see Note 7) | 540.4 | ' | 540.4 | ' | 479 | |||
Intangible assets, net: (see Note 8) | 57.4 | ' | 57.4 | ' | 66.2 | |||
Goodwill: (see Note 8) | 82.1 | [1] | ' | 82.1 | [1] | ' | 82.1 | [1] |
Segment assets | 1,924.40 | ' | 1,924.40 | ' | 1,970.30 | |||
Petrochemical and Refined Products Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues from third parties | 1,550 | 1,680 | 4,784.70 | 4,713.90 | ' | |||
Revenues from related parties | 0 | 0 | 0 | 0 | ' | |||
Revenues | 1,550 | 1,680 | 4,784.70 | 4,713.90 | ' | |||
Equity in income (loss) of unconsolidated affiliates | -5.2 | -6.2 | -14.5 | -14.1 | ' | |||
Gross operating margin | 117.1 | 182.1 | 450.7 | 437.2 | ' | |||
Property, plant and equipment, net (see Note 6) | 2,627.10 | ' | 2,627.10 | ' | 2,559.50 | |||
Investments in unconsolidated affiliates (see Note 7) | 73 | ' | 73 | ' | 72.3 | |||
Intangible assets, net: (see Note 8) | 101.5 | ' | 101.5 | ' | 106.2 | |||
Goodwill: (see Note 8) | 1,055.30 | [1] | ' | 1,055.30 | [1] | ' | 1,056 | [1] |
Segment assets | 3,856.90 | ' | 3,856.90 | ' | 3,794 | |||
Other Investment [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues from third parties | 0 | 0 | 0 | 0 | ' | |||
Revenues from related parties | 0 | 0 | 0 | 0 | ' | |||
Equity in income (loss) of unconsolidated affiliates | 0 | 0 | 0 | 2.4 | ' | |||
Gross operating margin | 0 | 0 | 0 | 2.4 | ' | |||
Property, plant and equipment, net (see Note 6) | 0 | ' | 0 | ' | 0 | |||
Investments in unconsolidated affiliates (see Note 7) | 0 | ' | 0 | ' | 0 | |||
Intangible assets, net: (see Note 8) | 0 | ' | 0 | ' | 0 | |||
Goodwill: (see Note 8) | 0 | ' | 0 | ' | 0 | |||
Segment assets | 0 | ' | 0 | ' | 0 | |||
Adjustments and Eliminations [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues from third parties | 0 | 0 | 0 | 0 | ' | |||
Revenues from related parties | 0 | 0 | 0 | 0 | ' | |||
Equity in income (loss) of unconsolidated affiliates | 0 | 0 | 0 | 0 | ' | |||
Gross operating margin | 0 | 0 | 0 | 0 | ' | |||
Property, plant and equipment, net (see Note 6) | 2,705.80 | ' | 2,705.80 | ' | 2,113.10 | |||
Investments in unconsolidated affiliates (see Note 7) | 0 | ' | 0 | ' | 0 | |||
Intangible assets, net: (see Note 8) | 0 | ' | 0 | ' | 0 | |||
Goodwill: (see Note 8) | 0 | ' | 0 | ' | 0 | |||
Segment assets | 2,705.80 | ' | 2,705.80 | ' | 2,113.10 | |||
Operating Segments [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 12,093.30 | 10,468.70 | 34,625.70 | 31,511 | ' | |||
Operating Segments [Member] | NGL Pipelines and Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 6,773 | 5,693.40 | 19,318.30 | 18,475.10 | ' | |||
Operating Segments [Member] | Onshore Natural Gas Pipelines And Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 1,051.10 | 1,057.90 | 3,397.40 | 3,014.60 | ' | |||
Operating Segments [Member] | Onshore Crude Oil Pipelines and Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 9,028.80 | 6,014.40 | 23,693.20 | 18,143.10 | ' | |||
Operating Segments [Member] | Offshore Pipelines And Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 41.4 | 45.2 | 131.5 | 155.3 | ' | |||
Operating Segments [Member] | Petrochemical and Refined Products Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 1,934.40 | 2,158.80 | 5,985.40 | 6,071.30 | ' | |||
Operating Segments [Member] | Other Investment [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 0 | 0 | 0 | 0 | ' | |||
Operating Segments [Member] | Adjustments and Eliminations [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | -6,735.40 | -4,501 | -17,900.10 | -14,348.40 | ' | |||
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 0 | 0 | 0 | 0 | ' | |||
Intersegment Eliminations [Member] | NGL Pipelines and Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | -2,542.30 | -2,301.60 | -7,631.70 | -7,396.30 | ' | |||
Intersegment Eliminations [Member] | Onshore Natural Gas Pipelines And Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | -215.6 | -211.4 | -726.7 | -614.1 | ' | |||
Intersegment Eliminations [Member] | Onshore Crude Oil Pipelines and Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | -3,591.30 | -1,509.20 | -8,333 | -4,975.60 | ' | |||
Intersegment Eliminations [Member] | Offshore Pipelines And Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | -1.8 | 0 | -8 | -5 | ' | |||
Intersegment Eliminations [Member] | Petrochemical and Refined Products Services [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | -384.4 | -478.8 | -1,200.70 | -1,357.40 | ' | |||
Intersegment Eliminations [Member] | Other Investment [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | 0 | 0 | 0 | 0 | ' | |||
Intersegment Eliminations [Member] | Adjustments and Eliminations [Member] | ' | ' | ' | ' | ' | |||
Information by business segment [Abstract] | ' | ' | ' | ' | ' | |||
Revenues | ($6,735.40) | ($4,501) | ($17,900.10) | ($14,348.40) | ' | |||
[1] | The total carrying amount of goodwill at September 30, 2013 and December 31, 2012 is net of $1.3 million of accumulated impairment charges. No goodwill impairment charges were recorded during the nine months ended September 30, 2013. |
Business_Segments_Consolidated
Business Segments, Consolidated Revenues and Expenses (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Consolidated Revenues [Abstract] | ' | ' | ' | ' | ||||
Total consolidated revenues | $12,093.30 | $10,468.70 | $34,625.70 | $31,511 | ||||
Operating costs and expenses: | ' | ' | ' | ' | ||||
Cost of sales | 10,371.30 | [1] | 8,794 | [1] | 29,522.10 | [1] | 26,655 | [1] |
Other operating costs and expenses | 612 | [2] | 556.1 | [2] | 1,702.40 | [2] | 1,672.90 | [2] |
Depreciation, amortization and accretion | 285.2 | 269.2 | 851.7 | 785.1 | ||||
Gains attributable to asset sales and insurance recoveries | -10.2 | -2.6 | -68.4 | -34.1 | ||||
Non-cash asset impairment charges | 15.2 | 43.1 | 53.3 | 57.6 | ||||
General and administrative costs | 43.9 | 41.4 | 138.9 | 130.2 | ||||
Total consolidated costs and expenses | 11,317.40 | 9,701.20 | 32,200 | 29,266.70 | ||||
NGL Pipelines and Services [Member] | ' | ' | ' | ' | ||||
Consolidated Revenues [Abstract] | ' | ' | ' | ' | ||||
Sales of NGLs and related products | 3,929.80 | 3,151.90 | 10,831.30 | 10,401.10 | ||||
Midstream asset services | 300.9 | 239.9 | 855.3 | 677.7 | ||||
Total consolidated revenues | 4,230.70 | 3,391.80 | 11,686.60 | 11,078.80 | ||||
Onshore Natural Gas Pipelines And Services [Member] | ' | ' | ' | ' | ||||
Consolidated Revenues [Abstract] | ' | ' | ' | ' | ||||
Sales of natural gas | 590.7 | 608.2 | 1,954.10 | 1,691.60 | ||||
Midstream asset services | 244.8 | 238.3 | 716.6 | 708.9 | ||||
Total consolidated revenues | 835.5 | 846.5 | 2,670.70 | 2,400.50 | ||||
Onshore Crude Oil Pipelines and Services [Member] | ' | ' | ' | ' | ||||
Consolidated Revenues [Abstract] | ' | ' | ' | ' | ||||
Sales of crude oil | 5,359.70 | 4,471.80 | 15,159.90 | 13,093.40 | ||||
Midstream asset services | 77.8 | 33.4 | 200.3 | 74.1 | ||||
Total consolidated revenues | 5,437.50 | 4,505.20 | 15,360.20 | 13,167.50 | ||||
Offshore Pipelines And Services [Member] | ' | ' | ' | ' | ||||
Consolidated Revenues [Abstract] | ' | ' | ' | ' | ||||
Sales of natural gas | 0.1 | 0.2 | 0.3 | 0.3 | ||||
Sales of crude oil | 1.5 | 3.1 | 3.7 | 4.5 | ||||
Midstream asset services | 38 | 41.9 | 119.5 | 145.5 | ||||
Total consolidated revenues | 39.6 | 45.2 | 123.5 | 150.3 | ||||
Petrochemical and Refined Products Services [Member] | ' | ' | ' | ' | ||||
Consolidated Revenues [Abstract] | ' | ' | ' | ' | ||||
Sales of petrochemicals and refined products | 1,390.10 | 1,498.90 | 4,271.50 | 4,166.90 | ||||
Midstream asset services | 159.9 | 181.1 | 513.2 | 547 | ||||
Total consolidated revenues | $1,550 | $1,680 | $4,784.70 | $4,713.90 | ||||
[1] | Cost of sales is a component of "Operating costs and expenses," as presented on our Unaudited Condensed Statements of Consolidated Operations. Period-to-period fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities. | |||||||
[2] | Represents cost of operating our plants, pipelines and other fixed assets, excluding depreciation, amortization and accretion charges. |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Revenues - related parties: | ' | ' | ' | ' | ' |
Total revenue - related parties | $7.70 | $7.50 | $20.30 | $63.90 | ' |
Costs and expenses - related parties: | ' | ' | ' | ' | ' |
Total costs and expenses - related parties | 244.7 | 225.8 | 740.9 | 644.2 | ' |
Accounts receivable - related parties: | ' | ' | ' | ' | ' |
Total accounts receivable - related parties | 12.8 | ' | 12.8 | ' | 2.5 |
Accounts payable - related parties: | ' | ' | ' | ' | ' |
Total accounts payable - related parties | 96.5 | ' | 96.5 | ' | 127.1 |
Related Party Transactions [Abstract] | ' | ' | ' | ' | ' |
Operating costs and expenses | 218.2 | 203.2 | 656.6 | 573.1 | ' |
General and administrative expenses | 26.5 | 22.6 | 84.3 | 71.1 | ' |
EPCO and affiliates [Member] | ' | ' | ' | ' | ' |
Costs and expenses - related parties: | ' | ' | ' | ' | ' |
Total costs and expenses - related parties | 218.8 | 210.8 | 654.4 | 616.9 | ' |
Accounts payable - related parties: | ' | ' | ' | ' | ' |
Total accounts payable - related parties | 86.2 | ' | 86.2 | ' | 102.4 |
Distributions: | ' | ' | ' | ' | ' |
Total distributions | ' | ' | 601.2 | 557.7 | ' |
Related Party Transactions [Abstract] | ' | ' | ' | ' | ' |
Operating costs and expenses | 190.5 | 185.3 | 564.7 | 541.6 | ' |
General and administrative expenses | 28.3 | 25.5 | 89.7 | 75.3 | ' |
Relationship with Affiliates [Abstract] | ' | ' | ' | ' | ' |
Number of Units Beneficially Owned (in units) | 340,462,655 | ' | 340,462,655 | ' | ' |
Percentage of Total Units Outstanding (in hundredths) | 36.80% | ' | 36.80% | ' | ' |
Unconsolidated affiliates [Member] | ' | ' | ' | ' | ' |
Revenues - related parties: | ' | ' | ' | ' | ' |
Total revenue - related parties | 7.7 | 7.5 | 20.3 | 63.9 | ' |
Costs and expenses - related parties: | ' | ' | ' | ' | ' |
Total costs and expenses - related parties | 25.9 | 15 | 86.5 | 27.3 | ' |
Accounts receivable - related parties: | ' | ' | ' | ' | ' |
Total accounts receivable - related parties | 12.8 | ' | 12.8 | ' | 2.5 |
Accounts payable - related parties: | ' | ' | ' | ' | ' |
Total accounts payable - related parties | $10.30 | ' | $10.30 | ' | $24.70 |
Earnings_Per_Unit_Details
Earnings Per Unit (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Numerator: | ' | ' | ' | ' |
Net income attributable to limited partners | $592 | $586.80 | $1,898 | $1,804.40 |
Denominator: | ' | ' | ' | ' |
Weighted-average number of distribution-bearing common units outstanding (in units) | 896.3 | 859.3 | 889.1 | 857.9 |
Basic earnings per unit: | ' | ' | ' | ' |
Net income attributable to limited partners, basic (in dollars per unit) | $0.66 | $0.68 | $2.13 | $2.10 |
Numerator: | ' | ' | ' | ' |
Net income attributable to limited partners | $592 | $586.80 | $1,898 | $1,804.40 |
Denominator: | ' | ' | ' | ' |
Distribution-bearing common units outstanding (in units) | 896.3 | 859.3 | 889.1 | 857.9 |
Class B units (in units) | 1.9 | 4.5 | 3.6 | 4.5 |
Designated Units (in units) | 23.7 | 26.1 | 23.7 | 26.1 |
Incremental option units (in units) | 1.1 | 1.5 | 1.2 | 1.5 |
Total (in units) | 923 | 891.4 | 917.6 | 890 |
Diluted earnings per unit: | ' | ' | ' | ' |
Net income attributable to limited partners, diluted (in dollars per unit) | $0.64 | $0.66 | $2.07 | $2.03 |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Litigation matters [Member] | Litigation matters [Member] | |||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Litigation accruals on an undiscounted basis | ' | ' | ' | ' | $5.70 | $4.40 |
Operating lease obligations [Abstract] | ' | ' | ' | ' | ' | ' |
Lease and rental expense included in costs and expenses | 19.6 | 26 | 64.9 | 71.1 | ' | ' |
Other claims [Abstract] | ' | ' | ' | ' | ' | ' |
Claims against various parties related to contractual agreements | 38.9 | ' | 38.9 | ' | ' | ' |
Claims against us related to contractual agreements | $44.10 | ' | $44.10 | ' | ' | ' |
Insurance_Matters_Details
Insurance Matters (Details) (February 2011 West Storage Incident [Member], USD $) | 3 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
February 2011 West Storage Incident [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Estimate of cost related to incident | ' | $91.90 | ' |
Proceeds from property damage insurance recoveries | 2.3 | 8.8 | 30 |
Gains related to property damage proceeds | $2.30 | $8.80 | $30 |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||
Decrease (increase) in: | ' | ' | ' | ||
Accounts receivable - trade | ($1,130) | $121.70 | ' | ||
Accounts receivable - related parties | -9.6 | 27.5 | ' | ||
Inventories | -674.2 | -229.2 | ' | ||
Prepaid and other current assets | -31.5 | -11.3 | ' | ||
Other assets | 3.2 | -54.3 | ' | ||
Increase (decrease) in: | ' | ' | ' | ||
Accounts payable - trade | 114.3 | 36.2 | ' | ||
Accounts payable - related parties | -30.4 | -98.9 | ' | ||
Accrued product payables | 1,358.10 | -609.4 | ' | ||
Accrued interest | -132.6 | -100 | ' | ||
Other current liabilities | 29.3 | 26.9 | ' | ||
Other liabilities | -10.5 | -19.4 | ' | ||
Net effect of changes in operating accounts | -513.9 | -910.2 | ' | ||
Liability for construction in progress expenditures | 378.4 | ' | 221.7 | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | 256.3 | 1,167.40 | ' | ||
Gains (losses) attributable to asset sales and insurance recoveries | 68.4 | 102.9 | ' | ||
Energy Transfer Equity [Member] | ' | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | 0 | 1,095.30 | ' | ||
Gains (losses) attributable to asset sales and insurance recoveries | 0 | [1] | 68.8 | [1] | ' |
Seminole Pipeline segment [Member] | ' | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | 86.9 | 0 | ' | ||
Gains (losses) attributable to asset sales and insurance recoveries | 52.5 | 0 | ' | ||
Chemical Trucking Assets [Member] | ' | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | 29.5 | 0 | ' | ||
Lubrication oil and specialty chemical distribution assets [Member] | ' | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | 35.3 | 0 | ' | ||
Marine transportation assets [Member] | ' | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | 16.5 | 2.4 | ' | ||
West Storage Facilities [Member] | ' | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | 8.8 | 30 | ' | ||
Gains (losses) attributable to asset sales and insurance recoveries | 8.8 | 30 | ' | ||
Other Disposal of Assets [Member] | ' | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | 14.3 | 16 | ' | ||
Gains (losses) attributable to asset sales and insurance recoveries | 7.1 | 4.1 | ' | ||
Pipeline Line Fill [Member] | ' | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ||
Proceeds from asset sales and insurance recoveries | $65 | $23.70 | ' | ||
[1] | This amount is a component of "Other income" as presented on our Unaudited Condensed Statements of Consolidated Operations. All other amounts presented in the table are a component of "Operating costs and expenses" as presented on our Unaudited Condensed Statements of Consolidated Operations. |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information, Balance Sheets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents and restricted cash | $45.50 | $20.40 | ' | ' | ||
Accounts receivable - trade, net | 5,469.10 | 4,350.90 | ' | ' | ||
Accounts receivable - related parties | 12.8 | 2.5 | ' | ' | ||
Inventories | 1,862.40 | 1,088.40 | ' | ' | ||
Prepaid and other current assets | 381.1 | 380.9 | ' | ' | ||
Total current assets | 7,770.90 | 5,843.10 | ' | ' | ||
Property, plant and equipment, net | 26,453.90 | 24,846.40 | ' | ' | ||
Investments in unconsolidated affiliates | 2,134.50 | 1,394.60 | ' | ' | ||
Intangible assets, net | 1,487.60 | 1,566.80 | ' | ' | ||
Goodwill | 2,080 | [1] | 2,086.80 | [1] | ' | ' |
Other assets | 198.1 | 196.7 | ' | ' | ||
Total assets | 40,125 | 35,934.40 | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||
Current maturities of debt | 1,049.90 | [2] | 1,546.60 | [2] | ' | ' |
Accounts payable - trade | 1,040.30 | 764.5 | ' | ' | ||
Accounts payable - related parties | 96.5 | 127.1 | ' | ' | ||
Accrued product payables | 5,972.80 | 4,476.20 | ' | ' | ||
Accrued interest | 168.2 | 300.8 | ' | ' | ||
Other current liabilities | 396.1 | 540.5 | ' | ' | ||
Total current liabilities | 8,723.80 | 7,755.70 | ' | ' | ||
Long-term debt | 16,481.60 | 14,655.20 | ' | ' | ||
Deferred tax liabilities | 55 | 22.5 | ' | ' | ||
Other long-term liabilities | 182.4 | 205 | ' | ' | ||
Commitments and contingencies | ' | ' | ' | ' | ||
Equity: | ' | ' | ' | ' | ||
Partners' and other owners' equity | 14,472.10 | 13,187.70 | ' | ' | ||
Noncontrolling interests | 210.1 | 108.3 | ' | ' | ||
Total equity | 14,682.20 | 13,296 | 13,057.90 | 12,219.30 | ||
Total liabilities and equity | 40,125 | 35,934.40 | ' | ' | ||
EPO and Subsidiaries Eliminations and Adjustments [Member] | ' | ' | ' | ' | ||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents and restricted cash | -23 | -12.1 | ' | ' | ||
Accounts receivable - trade, net | -2.5 | -3 | ' | ' | ||
Accounts receivable - related parties | -1,757.10 | -1,550.80 | ' | ' | ||
Inventories | -1.1 | -0.8 | ' | ' | ||
Prepaid and other current assets | -9.4 | -5.8 | ' | ' | ||
Total current assets | -1,793.10 | -1,572.50 | ' | ' | ||
Property, plant and equipment, net | 2 | 2 | ' | ' | ||
Investments in unconsolidated affiliates | -30,577.30 | -28,906.70 | ' | ' | ||
Intangible assets, net | 0 | 0 | ' | ' | ||
Goodwill | 0 | 0 | ' | ' | ||
Other assets | -3.9 | -0.9 | ' | ' | ||
Total assets | -32,372.30 | -30,478.10 | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||
Current maturities of debt | 0 | 0 | ' | ' | ||
Accounts payable - trade | -23 | -12.1 | ' | ' | ||
Accounts payable - related parties | -1,754.50 | -1,550.60 | ' | ' | ||
Accrued product payables | -6.2 | -4 | ' | ' | ||
Accrued interest | 0 | 0 | ' | ' | ||
Other current liabilities | -9.3 | -5.8 | ' | ' | ||
Total current liabilities | -1,793 | -1,572.50 | ' | ' | ||
Long-term debt | 0 | 0 | ' | ' | ||
Deferred tax liabilities | -3.9 | -0.9 | ' | ' | ||
Other long-term liabilities | -0.1 | 0 | ' | ' | ||
Commitments and contingencies | ' | ' | ' | ' | ||
Equity: | ' | ' | ' | ' | ||
Partners' and other owners' equity | -30,739 | -28,961.10 | ' | ' | ||
Noncontrolling interests | 163.7 | 56.4 | ' | ' | ||
Total equity | -30,575.30 | -28,904.70 | ' | ' | ||
Total liabilities and equity | -32,372.30 | -30,478.10 | ' | ' | ||
Eliminations and Adjustments [Member] | ' | ' | ' | ' | ||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents and restricted cash | 0 | 0 | ' | ' | ||
Accounts receivable - trade, net | 0 | 0 | ' | ' | ||
Accounts receivable - related parties | -0.4 | 0.6 | ' | ' | ||
Inventories | 0 | 0 | ' | ' | ||
Prepaid and other current assets | 0 | 0 | ' | ' | ||
Total current assets | -0.4 | 0.6 | ' | ' | ||
Property, plant and equipment, net | 0 | 0 | ' | ' | ||
Investments in unconsolidated affiliates | -14,472.90 | -13,188 | ' | ' | ||
Intangible assets, net | 0 | 0 | ' | ' | ||
Goodwill | 0 | 0 | ' | ' | ||
Other assets | 0 | 0 | ' | ' | ||
Total assets | -14,473.30 | -13,187.40 | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||
Current maturities of debt | 0 | 0 | ' | ' | ||
Accounts payable - trade | 0 | 0 | ' | ' | ||
Accounts payable - related parties | -0.3 | 0.6 | ' | ' | ||
Accrued product payables | 0 | 0 | ' | ' | ||
Accrued interest | 0 | 0 | ' | ' | ||
Other current liabilities | -1.1 | -0.2 | ' | ' | ||
Total current liabilities | -1.4 | 0.4 | ' | ' | ||
Long-term debt | 0 | 0 | ' | ' | ||
Deferred tax liabilities | 2 | 0.6 | ' | ' | ||
Other long-term liabilities | 0 | 0 | ' | ' | ||
Commitments and contingencies | ' | ' | ' | ' | ||
Equity: | ' | ' | ' | ' | ||
Partners' and other owners' equity | -14,447.60 | -13,165.60 | ' | ' | ||
Noncontrolling interests | -26.3 | -22.8 | ' | ' | ||
Total equity | -14,473.90 | -13,188.40 | ' | ' | ||
Total liabilities and equity | -14,473.30 | -13,187.40 | ' | ' | ||
Subsidiary Issuer (EPO) [Member] | ' | ' | ' | ' | ||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents and restricted cash | 36.6 | 4.3 | ' | ' | ||
Accounts receivable - trade, net | 1,846.80 | 1,585.20 | ' | ' | ||
Accounts receivable - related parties | 317.4 | 180.5 | ' | ' | ||
Inventories | 1,526.90 | 853.6 | ' | ' | ||
Prepaid and other current assets | 165.2 | 154.9 | ' | ' | ||
Total current assets | 3,892.90 | 2,778.50 | ' | ' | ||
Property, plant and equipment, net | 1,863.30 | 1,673.60 | ' | ' | ||
Investments in unconsolidated affiliates | 30,113 | 28,454.40 | ' | ' | ||
Intangible assets, net | 77.3 | 78.5 | ' | ' | ||
Goodwill | 458.9 | 458.9 | ' | ' | ||
Other assets | 128.7 | 126 | ' | ' | ||
Total assets | 36,534.10 | 33,569.90 | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||
Current maturities of debt | 1,049.90 | 1,516.70 | ' | ' | ||
Accounts payable - trade | 353.1 | 226.7 | ' | ' | ||
Accounts payable - related parties | 1,588.60 | 1,584.20 | ' | ' | ||
Accrued product payables | 2,364.10 | 1,851.80 | ' | ' | ||
Accrued interest | 167.9 | 300.1 | ' | ' | ||
Other current liabilities | 90.7 | 266.5 | ' | ' | ||
Total current liabilities | 5,614.30 | 5,746 | ' | ' | ||
Long-term debt | 16,466.60 | 14,640.20 | ' | ' | ||
Deferred tax liabilities | 3.6 | 5.1 | ' | ' | ||
Other long-term liabilities | 11.3 | 15.6 | ' | ' | ||
Commitments and contingencies | ' | ' | ' | ' | ||
Equity: | ' | ' | ' | ' | ||
Partners' and other owners' equity | 14,438.30 | 13,163 | ' | ' | ||
Noncontrolling interests | 0 | 0 | ' | ' | ||
Total equity | 14,438.30 | 13,163 | ' | ' | ||
Total liabilities and equity | 36,534.10 | 33,569.90 | ' | ' | ||
Other Subsidiaries (Non-guarantor) [Member] | ' | ' | ' | ' | ||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents and restricted cash | 31.9 | 28 | ' | ' | ||
Accounts receivable - trade, net | 3,624.80 | 2,768.70 | ' | ' | ||
Accounts receivable - related parties | 1,452.90 | 1,372.80 | ' | ' | ||
Inventories | 336.6 | 235.6 | ' | ' | ||
Prepaid and other current assets | 225.1 | 231.8 | ' | ' | ||
Total current assets | 5,671.30 | 4,636.90 | ' | ' | ||
Property, plant and equipment, net | 24,588.60 | 23,170.80 | ' | ' | ||
Investments in unconsolidated affiliates | 2,598.80 | 1,846.90 | ' | ' | ||
Intangible assets, net | 1,410.30 | 1,488.30 | ' | ' | ||
Goodwill | 1,621.10 | 1,627.90 | ' | ' | ||
Other assets | 73.2 | 71.4 | ' | ' | ||
Total assets | 35,963.30 | 32,842.20 | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||
Current maturities of debt | 0 | 29.9 | ' | ' | ||
Accounts payable - trade | 710.1 | 549.8 | ' | ' | ||
Accounts payable - related parties | 261.7 | 92.9 | ' | ' | ||
Accrued product payables | 3,614.90 | 2,628.40 | ' | ' | ||
Accrued interest | 0.3 | 0.7 | ' | ' | ||
Other current liabilities | 315.8 | 280 | ' | ' | ||
Total current liabilities | 4,902.80 | 3,581.70 | ' | ' | ||
Long-term debt | 15 | 15 | ' | ' | ||
Deferred tax liabilities | 53.3 | 17.7 | ' | ' | ||
Other long-term liabilities | 171.2 | 189.4 | ' | ' | ||
Commitments and contingencies | ' | ' | ' | ' | ||
Equity: | ' | ' | ' | ' | ||
Partners' and other owners' equity | 30,748.30 | 28,963.70 | ' | ' | ||
Noncontrolling interests | 72.7 | 74.7 | ' | ' | ||
Total equity | 30,821 | 29,038.40 | ' | ' | ||
Total liabilities and equity | 35,963.30 | 32,842.20 | ' | ' | ||
Consolidated EPO and Subsidiaries [Member] | ' | ' | ' | ' | ||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents and restricted cash | 45.5 | 20.2 | ' | ' | ||
Accounts receivable - trade, net | 5,469.10 | 4,350.90 | ' | ' | ||
Accounts receivable - related parties | 13.2 | 2.5 | ' | ' | ||
Inventories | 1,862.40 | 1,088.40 | ' | ' | ||
Prepaid and other current assets | 380.9 | 380.9 | ' | ' | ||
Total current assets | 7,771.10 | 5,842.90 | ' | ' | ||
Property, plant and equipment, net | 26,453.90 | 24,846.40 | ' | ' | ||
Investments in unconsolidated affiliates | 2,134.50 | 1,394.60 | ' | ' | ||
Intangible assets, net | 1,487.60 | 1,566.80 | ' | ' | ||
Goodwill | 2,080 | 2,086.80 | ' | ' | ||
Other assets | 198 | 196.5 | ' | ' | ||
Total assets | 40,125.10 | 35,934 | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||
Current maturities of debt | 1,049.90 | 1,546.60 | ' | ' | ||
Accounts payable - trade | 1,040.20 | 764.4 | ' | ' | ||
Accounts payable - related parties | 95.8 | 126.5 | ' | ' | ||
Accrued product payables | 5,972.80 | 4,476.20 | ' | ' | ||
Accrued interest | 168.2 | 300.8 | ' | ' | ||
Other current liabilities | 397.2 | 540.7 | ' | ' | ||
Total current liabilities | 8,724.10 | 7,755.20 | ' | ' | ||
Long-term debt | 16,481.60 | 14,655.20 | ' | ' | ||
Deferred tax liabilities | 53 | 21.9 | ' | ' | ||
Other long-term liabilities | 182.4 | 205 | ' | ' | ||
Commitments and contingencies | ' | ' | ' | ' | ||
Equity: | ' | ' | ' | ' | ||
Partners' and other owners' equity | 14,447.60 | 13,165.60 | ' | ' | ||
Noncontrolling interests | 236.4 | 131.1 | ' | ' | ||
Total equity | 14,684 | 13,296.70 | ' | ' | ||
Total liabilities and equity | 40,125.10 | 35,934 | ' | ' | ||
Enterprise Products Partners L.P. (Guarantor) [Member] | ' | ' | ' | ' | ||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents and restricted cash | 0 | 0.2 | ' | ' | ||
Accounts receivable - trade, net | 0 | 0 | ' | ' | ||
Accounts receivable - related parties | 0 | -0.6 | ' | ' | ||
Inventories | 0 | 0 | ' | ' | ||
Prepaid and other current assets | 0.2 | 0 | ' | ' | ||
Total current assets | 0.2 | -0.4 | ' | ' | ||
Property, plant and equipment, net | 0 | 0 | ' | ' | ||
Investments in unconsolidated affiliates | 14,472.90 | 13,188 | ' | ' | ||
Intangible assets, net | 0 | 0 | ' | ' | ||
Goodwill | 0 | 0 | ' | ' | ||
Other assets | 0.1 | 0.2 | ' | ' | ||
Total assets | 14,473.20 | 13,187.80 | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||
Current maturities of debt | 0 | 0 | ' | ' | ||
Accounts payable - trade | 0.1 | 0.1 | ' | ' | ||
Accounts payable - related parties | 1 | 0 | ' | ' | ||
Accrued product payables | 0 | 0 | ' | ' | ||
Accrued interest | 0 | 0 | ' | ' | ||
Other current liabilities | 0 | 0 | ' | ' | ||
Total current liabilities | 1.1 | 0.1 | ' | ' | ||
Long-term debt | 0 | 0 | ' | ' | ||
Deferred tax liabilities | 0 | 0 | ' | ' | ||
Other long-term liabilities | 0 | 0 | ' | ' | ||
Commitments and contingencies | ' | ' | ' | ' | ||
Equity: | ' | ' | ' | ' | ||
Partners' and other owners' equity | 14,472.10 | 13,187.70 | ' | ' | ||
Noncontrolling interests | 0 | 0 | ' | ' | ||
Total equity | 14,472.10 | 13,187.70 | ' | ' | ||
Total liabilities and equity | $14,473.20 | $13,187.80 | ' | ' | ||
[1] | The total carrying amount of goodwill at September 30, 2013 and December 31, 2012 is net of $1.3 million of accumulated impairment charges. No goodwill impairment charges were recorded during the nine months ended September 30, 2013. | |||||
[2] | We expect to refinance the current maturities of our debt obligations at or prior to their maturity. |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information, Statements of Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Consolidating Statement of Operations | ' | ' | ' | ' |
Revenues | $12,093.30 | $10,468.70 | $34,625.70 | $31,511 |
Costs and expenses: | ' | ' | ' | ' |
Operating costs and expenses | 11,273.50 | 9,659.80 | 32,061.10 | 29,136.50 |
General and administrative costs | 43.9 | 41.4 | 138.9 | 130.2 |
Total costs and expenses | 11,317.40 | 9,701.20 | 32,200 | 29,266.70 |
Equity in income of unconsolidated affiliates | 44 | 21 | 126.1 | 42.2 |
Operating income | 819.9 | 788.5 | 2,551.80 | 2,286.50 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | -208.3 | -199.7 | -604.4 | -572.8 |
Other, net | 0.6 | 1.5 | 0.2 | 73.4 |
Total other expense, net | -207.7 | -198.2 | -604.2 | -499.4 |
Income before income taxes | 612.2 | 590.3 | 1,947.60 | 1,787.10 |
Benefit from (provision for) income taxes | -19.4 | -2.4 | -46.2 | 23.5 |
Net income | 592.8 | 587.9 | 1,901.40 | 1,810.60 |
Net income attributable to noncontrolling interests | -0.8 | -1.1 | -3.4 | -6.2 |
Net income attributable to entity | 592 | 586.8 | 1,898 | 1,804.40 |
EPO and Subsidiaries Eliminations and Adjustments [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations | ' | ' | ' | ' |
Revenues | -3,565.40 | -2,996.40 | -10,335.60 | -9,482 |
Costs and expenses: | ' | ' | ' | ' |
Operating costs and expenses | -3,565.40 | -2,997.80 | -10,335.60 | -9,481.90 |
General and administrative costs | 0 | 0 | 0 | 0 |
Total costs and expenses | -3,565.40 | -2,997.80 | -10,335.60 | -9,481.90 |
Equity in income of unconsolidated affiliates | -581 | -586.1 | -1,952 | -1,785.60 |
Operating income | -581 | -584.7 | -1,952 | -1,785.70 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total other expense, net | 0 | 0 | 0 | 0 |
Income before income taxes | -581 | -584.7 | -1,952 | -1,785.70 |
Benefit from (provision for) income taxes | 0 | 0 | 0 | 0 |
Net income | -581 | -584.7 | -1,952 | -1,785.70 |
Net income attributable to noncontrolling interests | -1.6 | -1.2 | -4.9 | -3.2 |
Net income attributable to entity | -582.6 | -585.9 | -1,956.90 | -1,788.90 |
Eliminations and Adjustments [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 |
Costs and expenses: | ' | ' | ' | ' |
Operating costs and expenses | 0 | 0 | 0 | 0 |
General and administrative costs | 0 | 0 | 0 | 0 |
Total costs and expenses | 0 | 0 | 0 | 0 |
Equity in income of unconsolidated affiliates | -592.3 | -587 | -1,899.20 | -1,805.60 |
Operating income | -592.3 | -587 | -1,899.20 | -1,805.60 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total other expense, net | 0 | 0 | 0 | 0 |
Income before income taxes | -592.3 | -587 | -1,899.20 | -1,805.60 |
Benefit from (provision for) income taxes | -0.3 | -0.2 | -0.6 | -0.4 |
Net income | -592.6 | -587.2 | -1,899.80 | -1,806 |
Net income attributable to noncontrolling interests | 1 | 0.5 | 2.6 | 1.6 |
Net income attributable to entity | -591.6 | -586.7 | -1,897.20 | -1,804.40 |
Subsidiary Issuer (EPO) [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations | ' | ' | ' | ' |
Revenues | 7,070.30 | 6,392.60 | 20,916.80 | 20,066 |
Costs and expenses: | ' | ' | ' | ' |
Operating costs and expenses | 6,858 | 6,192.80 | 20,328.50 | 19,467 |
General and administrative costs | 7.6 | -4.4 | 19.7 | 20.1 |
Total costs and expenses | 6,865.60 | 6,188.40 | 20,348.20 | 19,487.10 |
Equity in income of unconsolidated affiliates | 577.2 | 581.4 | 1,936.20 | 1,774.70 |
Operating income | 781.9 | 785.6 | 2,504.80 | 2,353.60 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | -208 | -199 | -603 | -570.3 |
Other, net | 0.1 | 0 | 0.3 | 0.1 |
Total other expense, net | -207.9 | -199 | -602.7 | -570.2 |
Income before income taxes | 574 | 586.6 | 1,902.10 | 1,783.40 |
Benefit from (provision for) income taxes | 17.7 | -1.4 | -4.9 | 21 |
Net income | 591.7 | 585.2 | 1,897.20 | 1,804.40 |
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to entity | 591.7 | 585.2 | 1,897.20 | 1,804.40 |
Other Subsidiaries (Non-guarantor) [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations | ' | ' | ' | ' |
Revenues | 8,588.40 | 7,072.50 | 24,044.50 | 20,927 |
Costs and expenses: | ' | ' | ' | ' |
Operating costs and expenses | 7,980.90 | 6,464.80 | 22,068.20 | 19,151.40 |
General and administrative costs | 36 | 45.6 | 118 | 108.9 |
Total costs and expenses | 8,016.90 | 6,510.40 | 22,186.20 | 19,260.30 |
Equity in income of unconsolidated affiliates | 47.8 | 25.7 | 141.9 | 53.1 |
Operating income | 619.3 | 587.8 | 2,000.20 | 1,719.80 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | -0.3 | -0.7 | -1.4 | -2.5 |
Other, net | 0.5 | 1.5 | -0.1 | 73.3 |
Total other expense, net | 0.2 | 0.8 | -1.5 | 70.8 |
Income before income taxes | 619.5 | 588.6 | 1,998.70 | 1,790.60 |
Benefit from (provision for) income taxes | -36.8 | -0.8 | -40.7 | 2.9 |
Net income | 582.7 | 587.8 | 1,958 | 1,793.50 |
Net income attributable to noncontrolling interests | -0.2 | -0.4 | -1.1 | -4.6 |
Net income attributable to entity | 582.5 | 587.4 | 1,956.90 | 1,788.90 |
Consolidated EPO and Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations | ' | ' | ' | ' |
Revenues | 12,093.30 | 10,468.70 | 34,625.70 | 31,511 |
Costs and expenses: | ' | ' | ' | ' |
Operating costs and expenses | 11,273.50 | 9,659.80 | 32,061.10 | 29,136.50 |
General and administrative costs | 43.6 | 41.2 | 137.7 | 129 |
Total costs and expenses | 11,317.10 | 9,701 | 32,198.80 | 29,265.50 |
Equity in income of unconsolidated affiliates | 44 | 21 | 126.1 | 42.2 |
Operating income | 820.2 | 788.7 | 2,553 | 2,287.70 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | -208.3 | -199.7 | -604.4 | -572.8 |
Other, net | 0.6 | 1.5 | 0.2 | 73.4 |
Total other expense, net | -207.7 | -198.2 | -604.2 | -499.4 |
Income before income taxes | 612.5 | 590.5 | 1,948.80 | 1,788.30 |
Benefit from (provision for) income taxes | -19.1 | -2.2 | -45.6 | 23.9 |
Net income | 593.4 | 588.3 | 1,903.20 | 1,812.20 |
Net income attributable to noncontrolling interests | -1.8 | -1.6 | -6 | -7.8 |
Net income attributable to entity | 591.6 | 586.7 | 1,897.20 | 1,804.40 |
Enterprise Products Partners L.P. (Guarantor) [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 |
Costs and expenses: | ' | ' | ' | ' |
Operating costs and expenses | 0 | 0 | 0 | 0 |
General and administrative costs | 0.3 | 0.2 | 1.2 | 1.2 |
Total costs and expenses | 0.3 | 0.2 | 1.2 | 1.2 |
Equity in income of unconsolidated affiliates | 592.3 | 587 | 1,899.20 | 1,805.60 |
Operating income | 592 | 586.8 | 1,898 | 1,804.40 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total other expense, net | 0 | 0 | 0 | 0 |
Income before income taxes | 592 | 586.8 | 1,898 | 1,804.40 |
Benefit from (provision for) income taxes | 0 | 0 | 0 | 0 |
Net income | 592 | 586.8 | 1,898 | 1,804.40 |
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to entity | $592 | $586.80 | $1,898 | $1,804.40 |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information, Statements of Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' |
Comprehensive income | $606.50 | $518.30 | $1,922.50 | $1,773.70 |
Comprehensive income attributable to noncontrolling interests | -0.8 | -1.1 | -3.4 | -6.2 |
Comprehensive income attributable to entity | 605.7 | 517.2 | 1,919.10 | 1,767.50 |
EPO and Subsidiaries Eliminations and Adjustments [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' |
Comprehensive income | -580.9 | -584.7 | -1,951.90 | -1,785.70 |
Comprehensive income attributable to noncontrolling interests | -1.6 | -1.2 | -4.9 | -3.2 |
Comprehensive income attributable to entity | -582.5 | -585.9 | -1,956.80 | -1,788.90 |
Eliminations and Adjustments [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' |
Comprehensive income | -606.4 | -517.5 | -1,920.90 | -1,769 |
Comprehensive income attributable to noncontrolling interests | 1 | 0.5 | 2.6 | 1.6 |
Comprehensive income attributable to entity | -605.4 | -517 | -1,918.30 | -1,767.40 |
Subsidiary Issuer (EPO) [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' |
Comprehensive income | 583.4 | 559.8 | 1,911.50 | 1,743.40 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to entity | 583.4 | 559.8 | 1,911.50 | 1,743.40 |
Other Subsidiaries (Non-guarantor) [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' |
Comprehensive income | 604.7 | 543.5 | 1,964.70 | 1,817.50 |
Comprehensive income attributable to noncontrolling interests | -0.2 | -0.4 | -1.1 | -4.6 |
Comprehensive income attributable to entity | 604.5 | 543.1 | 1,963.60 | 1,812.90 |
Consolidated EPO and Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' |
Comprehensive income | 607.2 | 518.6 | 1,924.30 | 1,775.20 |
Comprehensive income attributable to noncontrolling interests | -1.8 | -1.6 | -6 | -7.8 |
Comprehensive income attributable to entity | 605.4 | 517 | 1,918.30 | 1,767.40 |
Enterprise Products Partners L.P. (Guarantor) [Member] | ' | ' | ' | ' |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' |
Comprehensive income | 605.7 | 517.2 | 1,919.10 | 1,767.50 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to entity | $605.70 | $517.20 | $1,919.10 | $1,767.50 |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Information, Statements of Cash Flows (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities: | ' | ' |
Net income | $1,901.40 | $1,810.60 |
Reconciliation of net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 902.3 | 817.9 |
Equity in income of unconsolidated affiliates | -126.1 | -42.2 |
Distributions received from unconsolidated affiliates | 187.6 | 67.5 |
Net effect of changes in operating accounts and other operating activities | -499 | -1,038 |
Net cash flows provided by operating activities | 2,366.20 | 1,615.80 |
Investing activities: | ' | ' |
Capital expenditures, net of contributions in aid of construction costs | -2,393.30 | -2,697.90 |
Proceeds from asset sales and insurance recoveries | 256.3 | 1,167.40 |
Other investing activities | -800.5 | -364.5 |
Cash used in investing activities | -2,937.50 | -1,895 |
Financing activities: | ' | ' |
Borrowings under debt agreements | 10,139.20 | 7,141.40 |
Repayments of debt | -8,791.60 | -5,716 |
Cash distributions paid to partners | -1,778.30 | -1,613.40 |
Cash distributions paid to noncontrolling interests | -6.4 | -11.3 |
Cash contributions from noncontrolling interests | 104.2 | 6.5 |
Net cash proceeds from issuance of common units | 1,134.70 | 658.6 |
Cash contributions from owners | 0 | 0 |
Other financing activities | -237 | -191.9 |
Cash provided by (used in) financing activities | 564.8 | 273.9 |
Net change in cash and cash equivalents | -6.5 | -5.3 |
Cash and cash equivalents, January 1 | 16.1 | 19.8 |
Cash and cash equivalents, September 30 | 9.6 | 14.5 |
EPO and Subsidiaries Eliminations and Adjustments [Member] | ' | ' |
Operating activities: | ' | ' |
Net income | -1,952 | -1,785.70 |
Reconciliation of net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 0 | 0 |
Equity in income of unconsolidated affiliates | 1,952 | 1,785.60 |
Distributions received from unconsolidated affiliates | -3,414.20 | -2,885.50 |
Net effect of changes in operating accounts and other operating activities | -11 | 1.4 |
Net cash flows provided by operating activities | -3,425.20 | -2,884.20 |
Investing activities: | ' | ' |
Capital expenditures, net of contributions in aid of construction costs | 0 | 0 |
Proceeds from asset sales and insurance recoveries | 0 | 0 |
Other investing activities | 2,051.80 | 2,051.40 |
Cash used in investing activities | 2,051.80 | 2,051.40 |
Financing activities: | ' | ' |
Borrowings under debt agreements | 0 | 0 |
Repayments of debt | 0 | 0 |
Cash distributions paid to partners | 3,420.60 | 2,889.70 |
Cash distributions paid to noncontrolling interests | -6.4 | -4.2 |
Cash contributions from noncontrolling interests | 104.2 | 6.5 |
Net cash proceeds from issuance of common units | 0 | 0 |
Cash contributions from owners | -2,155.90 | -2,057.80 |
Other financing activities | 0 | 0 |
Cash provided by (used in) financing activities | 1,362.50 | 834.2 |
Net change in cash and cash equivalents | -10.9 | 1.4 |
Cash and cash equivalents, January 1 | -12.1 | -11.2 |
Cash and cash equivalents, September 30 | -23 | -9.8 |
Eliminations and Adjustments [Member] | ' | ' |
Operating activities: | ' | ' |
Net income | -1,899.80 | -1,806 |
Reconciliation of net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 0 | 0 |
Equity in income of unconsolidated affiliates | 1,899.20 | 1,805.60 |
Distributions received from unconsolidated affiliates | -1,830.90 | -1,643.40 |
Net effect of changes in operating accounts and other operating activities | 0.3 | 0.4 |
Net cash flows provided by operating activities | -1,831.20 | -1,643.40 |
Investing activities: | ' | ' |
Capital expenditures, net of contributions in aid of construction costs | 0 | 0 |
Proceeds from asset sales and insurance recoveries | 0 | 0 |
Other investing activities | 1,135.20 | 571.5 |
Cash used in investing activities | 1,135.20 | 571.5 |
Financing activities: | ' | ' |
Borrowings under debt agreements | 0 | 0 |
Repayments of debt | 0 | 0 |
Cash distributions paid to partners | 1,831.20 | 1,643.40 |
Cash distributions paid to noncontrolling interests | 0 | 0 |
Cash contributions from noncontrolling interests | 0 | 0 |
Net cash proceeds from issuance of common units | 0 | 0 |
Cash contributions from owners | -1,135.20 | -571.5 |
Other financing activities | 0 | 0 |
Cash provided by (used in) financing activities | 696 | 1,071.90 |
Net change in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents, January 1 | 0 | 0 |
Cash and cash equivalents, September 30 | 0 | 0 |
Subsidiary Issuer (EPO) [Member] | ' | ' |
Operating activities: | ' | ' |
Net income | 1,897.20 | 1,804.40 |
Reconciliation of net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 105.3 | 89.9 |
Equity in income of unconsolidated affiliates | -1,936.20 | -1,774.70 |
Distributions received from unconsolidated affiliates | 3,421.10 | 2,898.70 |
Net effect of changes in operating accounts and other operating activities | -1,371.40 | -2,005.10 |
Net cash flows provided by operating activities | 2,116 | 1,013.20 |
Investing activities: | ' | ' |
Capital expenditures, net of contributions in aid of construction costs | -292.1 | -161.2 |
Proceeds from asset sales and insurance recoveries | 57.5 | 1,109.10 |
Other investing activities | -2,366.70 | -2,161.70 |
Cash used in investing activities | -2,601.30 | -1,213.80 |
Financing activities: | ' | ' |
Borrowings under debt agreements | 10,139.20 | 7,141.40 |
Repayments of debt | -8,761.70 | -5,706.50 |
Cash distributions paid to partners | -1,831.20 | -1,643.40 |
Cash distributions paid to noncontrolling interests | 0 | 0 |
Cash contributions from noncontrolling interests | 0 | 0 |
Net cash proceeds from issuance of common units | 0 | 0 |
Cash contributions from owners | 1,135.20 | 571.5 |
Other financing activities | -192.6 | -168.5 |
Cash provided by (used in) financing activities | 488.9 | 194.5 |
Net change in cash and cash equivalents | 3.6 | -6.1 |
Cash and cash equivalents, January 1 | 0 | 9.7 |
Cash and cash equivalents, September 30 | 3.6 | 3.6 |
Other Subsidiaries (Non-guarantor) [Member] | ' | ' |
Operating activities: | ' | ' |
Net income | 1,958 | 1,793.50 |
Reconciliation of net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 797 | 728 |
Equity in income of unconsolidated affiliates | -141.9 | -53.1 |
Distributions received from unconsolidated affiliates | 180.7 | 54.3 |
Net effect of changes in operating accounts and other operating activities | 889.7 | 1,057.80 |
Net cash flows provided by operating activities | 3,683.50 | 3,580.50 |
Investing activities: | ' | ' |
Capital expenditures, net of contributions in aid of construction costs | -2,101.20 | -2,536.70 |
Proceeds from asset sales and insurance recoveries | 198.8 | 58.3 |
Other investing activities | -485.6 | -254.2 |
Cash used in investing activities | -2,388 | -2,732.60 |
Financing activities: | ' | ' |
Borrowings under debt agreements | 0 | 0 |
Repayments of debt | -29.9 | -9.5 |
Cash distributions paid to partners | -3,420.60 | -2,889.70 |
Cash distributions paid to noncontrolling interests | 0 | -7.1 |
Cash contributions from noncontrolling interests | 0 | 0 |
Net cash proceeds from issuance of common units | 0 | 0 |
Cash contributions from owners | 2,155.90 | 2,057.80 |
Other financing activities | 0.1 | 0 |
Cash provided by (used in) financing activities | -1,294.50 | -848.5 |
Net change in cash and cash equivalents | 1 | -0.6 |
Cash and cash equivalents, January 1 | 28 | 21.3 |
Cash and cash equivalents, September 30 | 29 | 20.7 |
Consolidated EPO and Subsidiaries [Member] | ' | ' |
Operating activities: | ' | ' |
Net income | 1,903.20 | 1,812.20 |
Reconciliation of net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 902.3 | 817.9 |
Equity in income of unconsolidated affiliates | -126.1 | -42.2 |
Distributions received from unconsolidated affiliates | 187.6 | 67.5 |
Net effect of changes in operating accounts and other operating activities | -492.7 | -945.9 |
Net cash flows provided by operating activities | 2,374.30 | 1,709.50 |
Investing activities: | ' | ' |
Capital expenditures, net of contributions in aid of construction costs | -2,393.30 | -2,697.90 |
Proceeds from asset sales and insurance recoveries | 256.3 | 1,167.40 |
Other investing activities | -800.5 | -364.5 |
Cash used in investing activities | -2,937.50 | -1,895 |
Financing activities: | ' | ' |
Borrowings under debt agreements | 10,139.20 | 7,141.40 |
Repayments of debt | -8,791.60 | -5,716 |
Cash distributions paid to partners | -1,831.20 | -1,643.40 |
Cash distributions paid to noncontrolling interests | -6.4 | -11.3 |
Cash contributions from noncontrolling interests | 104.2 | 6.5 |
Net cash proceeds from issuance of common units | 0 | 0 |
Cash contributions from owners | 1,135.20 | 571.5 |
Other financing activities | -192.5 | -168.5 |
Cash provided by (used in) financing activities | 556.9 | 180.2 |
Net change in cash and cash equivalents | -6.3 | -5.3 |
Cash and cash equivalents, January 1 | 15.9 | 19.8 |
Cash and cash equivalents, September 30 | 9.6 | 14.5 |
Enterprise Products Partners L.P. (Guarantor) [Member] | ' | ' |
Operating activities: | ' | ' |
Net income | 1,898 | 1,804.40 |
Reconciliation of net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 0 | 0 |
Equity in income of unconsolidated affiliates | -1,899.20 | -1,805.60 |
Distributions received from unconsolidated affiliates | 1,830.90 | 1,643.40 |
Net effect of changes in operating accounts and other operating activities | -6.6 | -92.5 |
Net cash flows provided by operating activities | 1,823.10 | 1,549.70 |
Investing activities: | ' | ' |
Capital expenditures, net of contributions in aid of construction costs | 0 | 0 |
Proceeds from asset sales and insurance recoveries | 0 | 0 |
Other investing activities | -1,135.20 | -571.5 |
Cash used in investing activities | -1,135.20 | -571.5 |
Financing activities: | ' | ' |
Borrowings under debt agreements | 0 | 0 |
Repayments of debt | 0 | 0 |
Cash distributions paid to partners | -1,778.30 | -1,613.40 |
Cash distributions paid to noncontrolling interests | 0 | 0 |
Cash contributions from noncontrolling interests | 0 | 0 |
Net cash proceeds from issuance of common units | 1,134.70 | 658.6 |
Cash contributions from owners | 0 | 0 |
Other financing activities | -44.5 | -23.4 |
Cash provided by (used in) financing activities | -688.1 | -978.2 |
Net change in cash and cash equivalents | -0.2 | 0 |
Cash and cash equivalents, January 1 | 0.2 | 0 |
Cash and cash equivalents, September 30 | $0 | $0 |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | 9 Months Ended | 0 Months Ended | |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 08, 2013 |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | ' | ' | ' |
Number of common units issued (in units) | ' | ' | 9,200,000 |
Over-allotment of common units included in offering (in units) | ' | ' | 1,200,000 |
Offering price of common unit (in dollars per share) | ' | ' | $62.05 |
Net cash proceeds from issuance of common units | $1,134.70 | $658.60 | $553.40 |