Document and Entity Information
Document and Entity Information Document - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 16, 2018 | Jun. 30, 2017 | |
Entity Information [Line Items] | |||
Entity Registrant Name | Energy Transfer Equity, L.P. | ||
Entity Central Index Key | 1,276,187 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 1,079,145,561 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 14,110 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | [1] |
ASSETS | |||
Cash and cash equivalents | $ 336 | $ 467 | |
Accounts receivable, net | 4,504 | 3,557 | |
Accounts receivable from related companies | 53 | 47 | |
Inventories | 2,022 | 2,055 | |
Income taxes receivable | 136 | 128 | |
Derivative assets | 24 | 21 | |
Other current assets | 295 | 447 | |
Current assets held for sale | 3,313 | 177 | |
Total current assets | 10,683 | 6,899 | |
Property, plant and equipment | 71,177 | 61,562 | |
Accumulated depreciation and depletion | (10,089) | (7,984) | |
Property, Plant and Equipment, Net | 61,088 | 53,578 | |
Advances to and investments in unconsolidated affiliates | 2,705 | 3,040 | |
Other non-current assets, net | 886 | 815 | |
Intangible assets, net | 6,116 | 5,512 | |
Goodwill | 4,768 | 5,670 | |
Non-current assets held for sale | 0 | 3,411 | |
Total assets | 86,246 | 78,925 | |
LIABILITIES AND EQUITY | |||
Accounts payable | 4,685 | 3,502 | |
Accounts payable to related companies | 31 | 42 | |
Derivative liabilities | 111 | 172 | |
Accrued and other current liabilities | 2,582 | 2,367 | |
Current maturities of long-term debt | 413 | 1,194 | |
Current liabilities held for sale | 75 | 0 | |
Total current liabilities | 7,897 | 7,277 | |
Long-term debt, less current maturities | 43,671 | 42,608 | |
Long-term notes payable - related company | 0 | 250 | |
Deferred income taxes | 3,315 | 5,112 | |
Non-current derivative liabilities | 145 | 76 | |
Other non-current liabilities | 1,217 | 1,075 | |
Liabilities associated with assets held for sale | 0 | 48 | |
Commitments and contingencies | |||
Redeemable noncontrolling interests | 21 | 15 | |
PREFERRED UNITS OF SUBSIDIARY (Note 7) | 0 | 33 | |
Partners' Capital | |||
General Partner | (3) | (3) | |
Limited Partners: | |||
Common Unitholders (1,079,145,561 and 1,046,947,157 units authorized, issued and outstanding as of December 31, 2017 and 2016, respectively) | (1,643) | (1,871) | |
Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017 and 2016) | 450 | 180 | |
Total partners’ deficit | (1,196) | (1,694) | |
Noncontrolling interest | 31,176 | 24,125 | |
Total equity | 29,980 | 22,431 | |
Total liabilities and equity | $ 86,246 | $ 78,925 | |
[1] | * As adjusted. See Note 2. |
Consolidated Balance Sheets Bal
Consolidated Balance Sheets Balance Sheet (Paranthetical) - shares | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Class of Stock [Line Items] | |||||
Authorized | 1,079,145,561 | 1,046,947,157 | |||
Issued | 1,079,145,561 | 1,046,947,157 | |||
Outstanding | 1,079,145,561 | 1,046,947,157 | 1,044,800,000 | 1,077,500,000 | |
Preferred Units, Authorized | 329,299,267 | 329,299,267 | |||
Preferred Units, Issued | 329,299,267 | 329,299,267 | |||
Preferred Units, Outstanding | 329,299,267 | 329,299,267 | |||
Class D Units [Member] | |||||
Class of Stock [Line Items] | |||||
Outstanding | 3,080,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | [1] | Dec. 31, 2015 | [1] | |
REVENUES: | |||||
Natural gas sales | $ 4,172 | $ 3,619 | $ 3,671 | ||
NGL sales | 6,972 | 4,841 | 3,935 | ||
Crude sales | 10,184 | 6,766 | 8,378 | ||
Gathering, transportation and other fees | 4,435 | 4,172 | 4,200 | ||
Refined product sales | 11,975 | 10,097 | 11,321 | ||
Other | 2,785 | 2,297 | 4,591 | ||
Total revenues | 40,523 | 31,792 | [2] | 36,096 | |
COSTS AND EXPENSES: | |||||
Cost of products sold | 30,966 | 23,693 | 28,668 | ||
Operating expenses | 2,644 | 2,307 | 2,303 | ||
Depreciation, depletion and amortization | 2,554 | 2,216 | 1,951 | ||
Selling, general and administrative | 607 | 693 | 548 | ||
Impairment losses | 1,039 | 1,040 | 339 | ||
Total costs and expenses | 37,810 | 29,949 | 33,809 | ||
OPERATING INCOME | 2,713 | 1,843 | [2] | 2,287 | |
OTHER INCOME (EXPENSE): | |||||
Interest expense, net | (1,922) | (1,804) | (1,622) | ||
Equity in earnings from unconsolidated affiliates | 144 | 270 | 276 | ||
Impairment of investments in unconsolidated affiliates | (313) | (308) | 0 | ||
Gains on acquisitions | 0 | 83 | 0 | ||
Losses on extinguishments of debt | (89) | 0 | (43) | ||
Losses on interest rate derivatives | (37) | (12) | (18) | ||
Other, net | 214 | 132 | 20 | ||
Income from continuing operations before income tax benefit | 710 | 204 | 900 | ||
Income tax benefit from continuing operations | (1,833) | (258) | (123) | ||
INCOME FROM CONTINUING OPERATIONS | 2,543 | 462 | 1,023 | ||
Income (loss) from discontinued operations, net of income taxes | (177) | (462) | 38 | ||
NET INCOME | 2,366 | 0 | [2] | 1,061 | |
Less: Net income (loss) attributable to noncontrolling interest | 1,412 | (995) | (128) | ||
NET INCOME ATTRIBUTABLE TO PARTNERS | 954 | 995 | 1,189 | ||
General Partner’s interest in net income | 2 | 3 | 3 | ||
Convertible Unitholders’ interest in net income | 37 | 9 | 0 | ||
Class D Unitholder’s interest in net income | 0 | 0 | 3 | ||
Limited Partners’ interest in net income | $ 915 | $ 983 | [2] | $ 1,183 | |
INCOME FROM CONTINUING OPERATIONS PER LIMITED PARTNER UNIT (USD $ per unit): | |||||
Basic | $ 0.86 | $ 0.95 | $ 1.11 | ||
Diluted | 0.84 | 0.93 | 1.11 | ||
NET INCOME PER LIMITED PARTNER UNIT (USD $ per Unit): | |||||
Basic | 0.85 | 0.94 | [2] | 1.11 | |
Diluted | $ 0.83 | $ 0.92 | [2] | $ 1.11 | |
[1] | * As adjusted. See Note 2. | ||||
[2] | * As adjusted. See Note 2 and Note 3. |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Net income | $ 2,366 | $ 0 | [1],[2] | $ 1,061 | [2] |
Other comprehensive income (loss), net of tax: | |||||
Change in value of available-for-sale securities | 6 | 2 | (3) | ||
Actuarial gain (loss) relating to pension and other postretirement benefits | (12) | (1) | 65 | ||
Foreign currency translation adjustment | 0 | (1) | (1) | ||
Change in other comprehensive income (loss) from unconsolidated affiliates | 1 | 4 | (1) | ||
Other comprehensive income (loss), net of tax, total | (5) | 4 | 60 | ||
Comprehensive income | 2,361 | 4 | 1,121 | ||
Less: Comprehensive income (loss) attributable to noncontrolling interest | 1,407 | (991) | (68) | ||
Comprehensive income attributable to partners | $ 954 | $ 995 | $ 1,189 | ||
[1] | * As adjusted. See Note 2 and Note 3. | ||||
[2] | * As adjusted. See Note 2. |
Consolidated Statement Of Equit
Consolidated Statement Of Equity - USD ($) $ in Millions | Total | General Partner [Member] | Limited Partner [Member] | Class D Units [Member] | Series A Convertible Preferred Units [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] | PennTex Acquisition [Member] | PennTex Acquisition [Member]General Partner [Member] | PennTex Acquisition [Member]Limited Partner [Member] | PennTex Acquisition [Member]Class D Units [Member] | PennTex Acquisition [Member]Series A Convertible Preferred Units [Member] | PennTex Acquisition [Member]Accumulated Other Comprehensive Income (Loss) [Member] | PennTex Acquisition [Member]Noncontrolling Interest [Member] | Sale of Bakken Pipeline interest [Member] | Sale of Bakken Pipeline interest [Member]General Partner [Member] | Sale of Bakken Pipeline interest [Member]Limited Partner [Member] | Sale of Bakken Pipeline interest [Member]Class D Units [Member] | Sale of Bakken Pipeline interest [Member]Series A Convertible Preferred Units [Member] | Sale of Bakken Pipeline interest [Member]Accumulated Other Comprehensive Income (Loss) [Member] | Sale of Bakken Pipeline interest [Member]Noncontrolling Interest [Member] | Sale of Rover Pipeline interest [Member] | Sale of Rover Pipeline interest [Member]General Partner [Member] | Sale of Rover Pipeline interest [Member]Limited Partner [Member] | Sale of Rover Pipeline interest [Member]Class D Units [Member] | Sale of Rover Pipeline interest [Member]Series A Convertible Preferred Units [Member] | Sale of Rover Pipeline interest [Member]Accumulated Other Comprehensive Income (Loss) [Member] | Sale of Rover Pipeline interest [Member]Noncontrolling Interest [Member] | Subsidiary units issued for cash [Member] | Subsidiary units issued for cash [Member]General Partner [Member] | Subsidiary units issued for cash [Member]Limited Partner [Member] | Subsidiary units issued for cash [Member]Class D Units [Member] | Subsidiary units issued for cash [Member]Series A Convertible Preferred Units [Member] | Subsidiary units issued for cash [Member]Accumulated Other Comprehensive Income (Loss) [Member] | Subsidiary units issued for cash [Member]Noncontrolling Interest [Member] | Subsidiary units issued in certain acquisitions [Member] | Subsidiary units issued in certain acquisitions [Member]General Partner [Member] | Subsidiary units issued in certain acquisitions [Member]Limited Partner [Member] | Subsidiary units issued in certain acquisitions [Member]Class D Units [Member] | Subsidiary units issued in certain acquisitions [Member]Series A Convertible Preferred Units [Member] | Subsidiary units issued in certain acquisitions [Member]Accumulated Other Comprehensive Income (Loss) [Member] | Subsidiary units issued in certain acquisitions [Member]Noncontrolling Interest [Member] | ||
Balance at Dec. 31, 2014 | [1] | $ 22,301 | $ (1) | $ 648 | $ 22 | $ 0 | $ (5) | $ 21,637 | ||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||
Distributions to partners | (1,090) | (3) | (1,084) | (3) | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest | (2,335) | 0 | 0 | 0 | 0 | 0 | (2,335) | |||||||||||||||||||||||||||||||||||||
Subsidiary unit transactions | 3,889 | 1 | (524) | (1) | 0 | 0 | 4,415 | |||||||||||||||||||||||||||||||||||||
Capital contributions received from noncontrolling interest | 875 | 0 | 0 | 0 | 0 | 0 | 875 | |||||||||||||||||||||||||||||||||||||
Non-cash compensation expense, net of units tendered by employees for tax withholdings | 70 | 0 | 0 | 8 | 0 | 0 | 62 | |||||||||||||||||||||||||||||||||||||
Other, net | (149) | 0 | (118) | 0 | 0 | 0 | (31) | |||||||||||||||||||||||||||||||||||||
Units repurchased under buyback program | (1,064) | 0 | (1,064) | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Issuance of common units | 0 | 0 | 7 | (7) | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Acquisition and disposition of noncontrolling interest | (65) | 0 | 0 | 0 | 0 | 0 | (65) | |||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Acquisitions | $ 0 | |||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax | 60 | 0 | 0 | 0 | 0 | 5 | 55 | |||||||||||||||||||||||||||||||||||||
Net income | 1,061 | [1] | 3 | 1,183 | 3 | 0 | 0 | (128) | ||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2015 | [1] | 23,553 | (2) | (952) | 22 | 0 | 0 | 24,485 | ||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||
Distributions to partners | (1,022) | (3) | (1,019) | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest | (2,795) | 0 | 0 | 0 | 0 | 0 | (2,795) | |||||||||||||||||||||||||||||||||||||
Distributions reinvested | 0 | 0 | (173) | 0 | 173 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Subsidiary unit transactions | $ 2,559 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 2,559 | $ 307 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 307 | ||||||||||||||||||||||||||||||
Capital contributions received from noncontrolling interest | 236 | 0 | 0 | 0 | 0 | 0 | 236 | |||||||||||||||||||||||||||||||||||||
Non-cash compensation expense, net of units tendered by employees for tax withholdings | 52 | 0 | 0 | (22) | 0 | 0 | 74 | |||||||||||||||||||||||||||||||||||||
Other, net | 43 | (1) | 30 | 0 | 0 | 0 | 14 | |||||||||||||||||||||||||||||||||||||
Issuance of common units | 37 | 0 | 39 | (2) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
Acquisition and disposition of noncontrolling interest | (779) | 0 | (779) | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Acquisitions | (236) | 0 | 0 | 0 | 0 | 0 | 236 | (307) | ||||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax | 4 | 0 | 0 | 0 | 0 | 0 | 4 | |||||||||||||||||||||||||||||||||||||
Net income | 0 | [1],[2] | 3 | 983 | 0 | 9 | 0 | (995) | ||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2016 | [1] | 22,431 | (3) | (1,871) | 0 | 180 | 0 | 24,125 | ||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||
Distributions to partners | (1,010) | (2) | (1,008) | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest | (2,999) | 0 | 0 | 0 | 0 | 0 | (2,999) | |||||||||||||||||||||||||||||||||||||
Distributions reinvested | 0 | 0 | 234 | 0 | (234) | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Sale of Units | 568 | 0 | 568 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Subsidiary unit transactions | 3,235 | 0 | (55) | 0 | (1) | 0 | 3,291 | |||||||||||||||||||||||||||||||||||||
Capital contributions received from noncontrolling interest | 2,202 | 0 | 0 | 0 | 0 | 0 | 2,202 | |||||||||||||||||||||||||||||||||||||
Non-cash compensation expense, net of units tendered by employees for tax withholdings | 86 | 0 | 0 | 0 | 0 | 0 | 86 | |||||||||||||||||||||||||||||||||||||
Other, net | (92) | 0 | 0 | 0 | 0 | 0 | (92) | |||||||||||||||||||||||||||||||||||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | $ (280) | $ 0 | $ (2) | $ 0 | $ 0 | $ 0 | $ (278) | |||||||||||||||||||||||||||||||||||||
Acquisition and disposition of noncontrolling interest | $ (2,000) | $ 0 | $ (42) | $ 0 | $ 0 | $ 0 | $ (1,958) | $ (1,478) | $ 0 | $ (2) | $ 0 | $ 0 | $ 0 | $ (1,476) | ||||||||||||||||||||||||||||||
Partners' Capital Account, Acquisitions | $ 0 | |||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax | (5) | 0 | 0 | 0 | 0 | 0 | (5) | |||||||||||||||||||||||||||||||||||||
Net income | 2,366 | 2 | 915 | 0 | 37 | 0 | 1,412 | |||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 29,980 | $ (3) | $ (1,643) | $ 0 | $ 450 | $ 0 | $ 31,176 | |||||||||||||||||||||||||||||||||||||
[1] | * As adjusted. See Note 2. | |||||||||||||||||||||||||||||||||||||||||||
[2] | * As adjusted. See Note 2 and Note 3. |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net income | $ 2,366 | $ 0 | [1],[2] | $ 1,061 | [2] | |
Reconciliation of net income to net cash provided by operating activities: | ||||||
Income (loss) from discontinued operations, net of income taxes | 177 | 462 | [2] | (38) | [2] | |
Depreciation, depletion and amortization | 2,554 | 2,216 | [2] | 1,951 | [2] | |
Deferred income taxes | (1,871) | (177) | [2] | 239 | [2] | |
Amortization included in interest expense | 24 | 3 | [2] | (21) | [2] | |
Unit-based compensation expense | 99 | 70 | [2] | 91 | [2] | |
Impairment losses | 1,039 | 1,040 | [2] | 339 | [2] | |
Gains on acquisitions | 0 | (83) | [2] | 0 | [2] | |
Losses on extinguishments of debt | 89 | 0 | [2] | 43 | [2] | |
Impairment of investments in unconsolidated affiliates | 313 | 308 | [2] | 0 | [2] | |
Losses on disposal of assets | 0 | 0 | [2] | (6) | [2] | |
Equity in earnings of unconsolidated affiliates | (144) | (270) | [2] | (276) | [2] | |
Distributions from unconsolidated affiliates | 297 | 268 | [2] | 409 | [2] | |
Inventory valuation adjustments | (24) | (97) | [2] | 67 | [2] | |
Other non-cash | (298) | (239) | [2] | (8) | [2] | |
Net change in operating assets and liabilities, net of effects of acquisitions and deconsolidations | (192) | (179) | [2] | (872) | [2] | |
Net cash provided by operating activities | 4,429 | 3,322 | [2] | 2,979 | [2] | |
INVESTING ACTIVITIES: | ||||||
Proceeds from sale of noncontrolling interest | 0 | 0 | [2] | 64 | [2] | |
Cash paid for acquisitions, net of cash received | (303) | (1,398) | [2] | (777) | [2] | |
Cash paid for acquisition of a noncontrolling interest | 0 | 0 | [2] | (129) | [2] | |
Capital expenditures, excluding allowance for equity funds used during construction | (8,444) | (7,771) | [2] | (9,073) | [2] | |
Contributions in aid of construction costs | 31 | 71 | [2] | 80 | [2] | |
Contributions to unconsolidated affiliates | (268) | (68) | [2] | (45) | [2] | |
Distributions from unconsolidated affiliates in excess of cumulative earnings | 135 | 135 | [2] | 128 | [2] | |
Proceeds from the sale of other assets | 48 | 35 | [2] | 14 | [2] | |
Change in restricted cash | 0 | 14 | [2] | 19 | [2] | |
Other | (3) | 0 | [2] | (16) | [2] | |
Net cash used in investing activities | (5,606) | (8,982) | [2] | (9,735) | [2] | |
FINANCING ACTIVITIES: | ||||||
Proceeds from borrowings | 31,608 | 25,785 | [2] | 26,455 | [2] | |
Repayments of long-term debt | (31,268) | (19,076) | [2] | (19,828) | [2] | |
Cash received from affiliate notes | 0 | 5,317 | [2] | 0 | [2] | |
Cash paid on affiliate notes | (255) | (5,051) | [2] | 0 | [2] | |
Proceeds from Issuance of Common Limited Partners Units | 568 | 0 | [2] | 0 | [2] | |
Subsidiary units issued for cash | 3,235 | 2,559 | [2] | 3,889 | [2] | |
Distributions to partners | (1,010) | (1,022) | [2] | (1,090) | [2] | |
Distributions to noncontrolling interests | (2,961) | (2,766) | [2] | (2,335) | [2] | |
Debt issuance costs | (131) | (52) | [2] | (75) | [2] | |
Capital contributions from noncontrolling interest | (988) | 0 | (34) | |||
Capital contributions from noncontrolling interest | 1,214 | 236 | [2] | 841 | [2] | |
Units repurchased under buyback program | 0 | 0 | [2] | 1,064 | [2] | |
Other, net | 6 | (3) | [2] | (8) | [2] | |
Net cash provided by financing activities | 953 | 5,927 | [2] | 6,785 | [2] | |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | 136 | 93 | [2] | 90 | [2] | |
Cash Provided by (Used in) Investing Activities, Discontinued Operations | (38) | (483) | [2] | (360) | [2] | |
Increase (Decrease) in Assets Held-for-sale | (5) | 5 | [2] | (13) | [2] | |
Net increase (decrease) in cash and cash equivalents of discontinued operations | 93 | (385) | [2] | (283) | [2] | |
Decrease in cash and cash equivalents | (131) | (118) | [2] | (254) | [2] | |
Cash and cash equivalents, beginning of period | [2] | 467 | 585 | 839 | ||
Cash and cash equivalents, end of period | 336 | 467 | [2] | 585 | [2] | |
Bakken Pipeline [Member] | ||||||
INVESTING ACTIVITIES: | ||||||
Proceeds from Divestiture of Interest in Joint Venture | 2,000 | 0 | [2] | 0 | [2] | |
Rover Pipeline LLC [Member] | ||||||
INVESTING ACTIVITIES: | ||||||
Proceeds from Divestiture of Interest in Joint Venture | 1,478 | 0 | [2] | 0 | [2] | |
PennTex [Member] | ||||||
INVESTING ACTIVITIES: | ||||||
Cash paid for acquisitions, net of cash received | 280 | 0 | [2] | 0 | [2] | |
ETP Series A Preferred Units [Member] | ||||||
FINANCING ACTIVITIES: | ||||||
Units repurchased under buyback program | $ (53) | $ 0 | [2] | $ 0 | [2] | |
[1] | * As adjusted. See Note 2 and Note 3. | |||||
[2] | * As adjusted. See Note 2. |
Operations And Organization
Operations And Organization | 12 Months Ended |
Dec. 31, 2017 | |
Operations And Organization [Abstract] | |
Operations And Organization | OPERATIONS AND ORGANIZATION : Financial Statement Presentation The consolidated financial statements of Energy Transfer Equity, L.P. (the “Partnership,” “we” or “ETE”) presented herein for the years ended December 31, 2017, 2016, and 2015 , have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. We consolidate all majority-owned subsidiaries and limited partnerships, which we control as the general partner or owner of the general partner. All significant intercompany transactions and accounts are eliminated in consolidation. Unless the context requires otherwise, references to “we,” “us,” “our,” the “Partnership” and “ETE” mean Energy Transfer Equity, L.P. and its consolidated subsidiaries, which include ETP, ETP GP, ETP LLC, Panhandle, Sunoco LP and Lake Charles LNG. References to the “Parent Company” mean Energy Transfer Equity, L.P. on a stand-alone basis. The consolidated financial statements of ETE presented herein include the results of operations of: • the Parent Company; • our controlled subsidiaries, ETP and Sunoco LP; • consolidated subsidiaries of our controlled subsidiaries and our wholly-owned subsidiaries that own general partner interests and IDR interests in ETP and Sunoco LP; and • our wholly-owned subsidiary, Lake Charles LNG. Our subsidiaries also own varying undivided interests in certain pipelines. Ownership of these pipelines has been structured as an ownership of an undivided interest in assets, not as an ownership interest in a partnership, limited liability company, joint venture or other forms of entities. Each owner controls marketing and invoices separately, and each owner is responsible for any loss, damage or injury that may occur to their own customers. As a result, we apply proportionate consolidation for our interests in these entities. At January 25, 2018, subsequent to Sunoco LP’s repurchase of the 12 million Sunoco LP Series A Preferred Units held by ETE, our interests in ETP and Sunoco LP consisted of 100% of the respective general partner interests and IDRs, as well as approximately 27.5 million ETP common units, and approximately 2.3 million Sunoco LP common units. Additionally, ETE owns 100 ETP Class I Units, which are currently not entitled to any distributions. As discussed in Note 8 , in July 2015, the Partnership completed a two-for-one split of ETE Common Units. All references to unit and per unit amounts in the consolidated financial statements and in these notes to the consolidated financial statements have been adjusted to reflect the effects of the unit split for all periods presented. In April 2017, ETP and Sunoco Logistics completed the previously announced merger transaction in which Sunoco Logistics acquired ETP in a unit-for-unit transaction (the “Sunoco Logistics Merger”). Under the terms of the transaction, ETP unitholders received 1.5 common units of Sunoco Logistics for each common unit of ETP they owned. Under the terms of the merger agreement, Sunoco Logistics’ general partner was merged with and into ETP GP, with ETP GP surviving as an indirect wholly-owned subsidiary of ETE. In connection with the merger, the ETP Class H units were cancelled. The outstanding ETP Class E units, Class G units, Class I units and Class K units at the effective time of the merger were converted into an equal number of newly created classes of Sunoco Logistics units, with the same rights, preferences, privileges, duties and obligations as such classes of ETP units had immediately prior to the closing of the merger. Additionally, the outstanding Sunoco Logistics common units and Sunoco Logistics Class B units owned by ETP at the effective time of the merger were cancelled. In connection with the Sunoco Logistics Merger, Energy Transfer Partners, L.P. changed its name from “Energy Transfer Partners, L.P.” to “Energy Transfer, LP” and Sunoco Logistics Partners L.P. changed its name to “Energy Transfer Partners, L.P.” Energy Transfer, LP is a wholly-owned subsidiary of Energy Transfer Partners, L.P. For purposes of maintaining clarity, the following references are used herein: • References to “ETLP” refer to the entity named Energy Transfer, LP subsequent to the close of the merger; • References to “Sunoco Logistics” refer to the entity named Sunoco Logistics Partners L.P. prior to the close of the merger; and • References to “ETP” refer to the consolidated entity named Energy Transfer Partners, L.P. subsequent to the close of the merger. The historical common units for ETP presented in these consolidated financial statements have been retrospectively adjusted to reflect the 1.5 to one unit-for-unit exchange in connection with the Sunoco Logistics Merger. For prior periods herein, certain transactions related to the business of legacy Sunoco Logistics have been reclassified from cost of products sold to operating expenses; these transactions include sales between operating subsidiaries and their marketing affiliates. These reclassifications had no impact on net income or total equity. Additionally, for prior periods herein, certain balances have been reclassified to assets and liabilities held for sale and certain revenues and expenses to discontinued operations. These reclassifications had no impact on net income or total equity. Business Operations The Parent Company’s principal sources of cash flow are derived from its direct and indirect investments in the limited partner and general partner interests in ETP and Sunoco LP and cash flows from the operations of Lake Charles LNG. The Parent Company’s primary cash requirements are for general and administrative expenses, debt service requirements and distributions to its partners. Parent Company-only assets are not available to satisfy the debts and other obligations of ETE’s subsidiaries. In order to understand the financial condition of the Parent Company on a stand-alone basis, see Note 17 for stand-alone financial information apart from that of the consolidated partnership information included herein. Our financial statements reflect the following reportable business segments: • Investment in ETP, including the consolidated operations of ETP; • Investment in Sunoco LP, including the consolidated operations of Sunoco LP; • Investment in Lake Charles LNG, including the operations of Lake Charles LNG; and • Corporate and Other, including the following: • activities of the Parent Company; and • the goodwill and property, plant and equipment fair value adjustments recorded as a result of the 2004 reverse acquisition of Heritage Propane Partners, L.P. ETP is a publicly traded partnership whose operations comprise the following: • the gathering and processing, compression, treating and transportation of natural gas, focusing on providing midstream services in some of the most prolific natural gas producing regions in the United States, including the Eagle Ford, Haynesville, Barnett, Fayetteville, Marcellus, Utica, Bone Spring and Avalon shales; • intrastate transportation and storage natural gas operations that own and operate natural gas pipeline systems that are engaged in the business of purchasing, gathering, transporting, processing, and marketing natural gas and NGLs in the states of Texas, Louisiana, New Mexico and West Virginia; • interstate pipelines that are owned and operated, either directly or through equity method investments, that transport natural gas to various markets in the United States; and • controlling interest in Sunoco Logistics Partners Operations L.P., which owns and operates a logistics business, consisting of a geographically diverse portfolio of complementary pipeline, terminalling, and acquisition and marketing assets, which are used to facilitate the purchase and sale of crude oil, NGLs and refined products. Sunoco LP is engaged in the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers, and distributors, as well as the retail sale of motor fuels and merchandise through Sunoco LP operated convenience stores and retail fuel sites. Lake Charles LNG operates a LNG import terminal, which has approximately 9.0 Bcf of above ground LNG storage capacity and re-gasification facilities on Louisiana’s Gulf Coast near Lake Charles, Louisiana. Lake Charles LNG is engaged in interstate commerce and is subject to the rules, regulations and accounting requirements of the FERC. |
Estimates, Significant Accounti
Estimates, Significant Accounting Policies and Balance Sheet Detail | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Estimates, Significant Accounting Policies and Balance Sheet Detail | ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL : Change in Accounting Policy During the fourth quarter of 2017, ETP elected to change its method of inventory costing to weighted-average cost for certain inventory that had previously been accounted for using the last-in, first-out (“LIFO”) method. The inventory impacted by this change included the crude oil, refined product and NGL associated with the legacy Sunoco Logistics business. ETP’s management believes that the weighted-average cost method is preferable to the LIFO method as it more closely aligns the accounting policies across the consolidated entity, given that the legacy ETP inventory has been accounted for using the weighted-average cost method. As a result of this change in accounting policy, prior periods have been retrospectively adjusted, as follows: Year Ended December 31, 2016 Year Ended December 31, 2015 As Originally Reported* Effect of Change As Adjusted As Originally Reported* Effect of Change As Adjusted Consolidated Statement of Operations and Comprehensive Income: Cost of products sold $ 23,652 $ 41 $ 23,693 $ 28,636 $ 32 $ 28,668 Operating income 1,884 (41 ) 1,843 2,319 (32 ) 2,287 Income from continuing operations before income tax benefit 245 (41 ) 204 932 (32 ) 900 Net income 41 (41 ) — 1,093 (32 ) 1,061 Net income (loss) attributable to noncontrolling interest (954 ) (41 ) (995 ) (96 ) (32 ) (128 ) Comprehensive income 45 (41 ) 4 1,153 (32 ) 1,121 Consolidated Statements of Cash Flows: Net income 41 (41 ) — 1,093 (32 ) 1,061 Inventory valuation adjustments (267 ) 170 (97 ) 229 (162 ) 67 Net change in operating assets and liabilities (change in inventories) (50 ) (129 ) (179 ) (1,066 ) 194 (872 ) Consolidated Balance Sheets (at period end): Inventories 2,141 (86 ) 2,055 1,498 (45 ) 1,453 Noncontrolling interest 24,211 (86 ) 24,125 24,530 (45 ) 24,485 * Amounts reflect certain reclassifications made to conform to the current year presentation and include the impact of discontinued operations as discussed in Note 3 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the accrual for and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The natural gas industry conducts its business by processing actual transactions at the end of the month following the month of delivery. Consequently, the most current month’s financial results for the midstream, NGL and intrastate transportation and storage operations are estimated using volume estimates and market prices. Any differences between estimated results and actual results are recognized in the following month’s financial statements. Management believes that the estimated operating results represent the actual results in all material respects. Some of the other significant estimates made by management include, but are not limited to, the timing of certain forecasted transactions that are hedged, the fair value of derivative instruments, useful lives for depreciation, amortization, purchase accounting allocations and subsequent realizability of intangible assets, fair value measurements used in the goodwill impairment test, market value of inventory, assets and liabilities resulting from the regulated ratemaking process, contingency reserves and environmental reserves. Actual results could differ from those estimates. Recent Accounting Pronouncements ASU 2014-09 In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which clarifies the principles for recognizing revenue based on the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Partnership adopted ASU 2014-09 on January 1, 2018. The Partnership applied the cumulative catchup transition method and recognized the cumulative effect of the retrospective application of the standard. The effect of the retrospective application of the standard was not material. For future periods, ETP expects that the adoption of this standard will result in a change to revenues with offsetting changes to costs associated primarily with the designation of certain of its midstream agreements to be in-substance supply agreements, requiring amounts that had previously been reported as revenue under these agreements to be reclassified to a reduction of cost of sales. Changes to revenues along with offsetting changes to costs will also occur due to changes in the accounting for noncash consideration in multiple of our reportable segments, as well as fuel usage and loss allowances. None of these changes is expected to have a material impact on net income. We have determined that the timing and/or amount of revenue that we recognize on certain contracts associated with Sunoco LP’s operations will be impacted by the adoption of the new standard. We currently estimate the cumulative catch-up effect to Sunoco LP’s retained earnings as of January 1, 2018 to be approximately $54 million. These adjustments are primarily related to the change in recognition of dealer incentives and rebates. ASU 2016-02 In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which establishes the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The Partnership expects to adopt ASU 2016-02 in the first quarter of 2019 and is currently evaluating the impact that adopting this new standard will have on the consolidated financial statements and related disclosures. ASU 2016-16 On January 1, 2018, the Partnership adopted Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-entity Transfers of Assets Other Than Inventory (“ASU 2016-16”), which requires that entities recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments in this update do not change GAAP for the pre-tax effects of an intra-entity asset transfer under Topic 810, Consolidation, or for an intra-entity transfer of inventory. We do not anticipate a material impact to our financial position or results of operations as a result of the adoption of this standard. ASU 2017-04 In January 2017, the FASB issued ASU No. 2017-04 “ Intangibles-Goodwill and other (Topic 350): Simplifying the test for goodwill impairment. ” The amendments in this update remove the second step of the two-step test currently required by Topic 350. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance did not amend the optional qualitative assessment of goodwill impairment. The standard requires prospective application and therefore will only impact periods subsequent to the adoption. The Partnership adopted this ASU for its annual goodwill impairment test in the fourth quarter of 2017. ASU 2017-12 In August 2017, the FASB issued ASU No. 2017-12 “ Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. ” The amendments in this update improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. In addition, the amendments in this update make certain targeted improvements to simplify the application of the hedge accounting guidance in current GAAP. This ASU is effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Partnership is currently evaluating the impact that adopting this new standard will have on the consolidated financial statements and related disclosures. Revenue Recognition Our segments are engaged in multiple revenue-generating activities. To the extent that those activities are similar among our segments, revenue recognition policies are similar. Below is a description of revenue recognition policies for significant revenue-generating activities within our segments. Investment in ETP Revenues for sales of natural gas and NGLs are recognized at the later of the time of delivery of the product to the customer or the time of sale. Revenues from service labor, transportation, treating, compression and gas processing are recognized upon completion of the service. Transportation capacity payments are recognized when earned in the period the capacity is made available. The results of ETP’s intrastate transportation and storage and interstate transportation and storage operations are determined primarily by the amount of capacity customers reserve as well as the actual volume of natural gas that flows through the transportation pipelines. Under transportation contracts, customers are charged (i) a demand fee, which is a fixed fee for the reservation of an agreed amount of capacity on the transportation pipeline for a specified period of time and which obligates the customer to pay even if the customer does not transport natural gas on the respective pipeline, (ii) a transportation fee, which is based on the actual throughput of natural gas by the customer, (iii) fuel retention based on a percentage of gas transported on the pipeline, or (iv) a combination of the three, generally payable monthly. Fuel retained for a fee is typically valued at market prices. ETP’s intrastate transportation and storage operations also generate revenues and margin from the sale of natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users and other marketing companies on the HPL System. Generally, ETP purchases natural gas from the market, including purchases from ETP’s marketing operations, and from producers at the wellhead. In addition, ETP’s intrastate transportation and storage operations generate revenues and margin from fees charged for storing customers’ working natural gas in ETP’s storage facilities. ETP also engages in natural gas storage transactions in which ETP seeks to find and profit from pricing differences that occur over time utilizing the Bammel storage reservoir. ETP purchases physical natural gas and then sells financial contracts at a price sufficient to cover ETP’s carrying costs and provide for a gross profit margin. ETP expects margins from natural gas storage transactions to be higher during the periods from November to March of each year and lower during the period from April through October of each year due to the increased demand for natural gas during colder weather. However, ETP cannot assure that management’s expectations will be fully realized in the future and in what time period, due to various factors including weather, availability of natural gas in regions in which ETP operate, competitive factors in the energy industry, and other issues. Results from ETP’s midstream operations are determined primarily by the volumes of natural gas gathered, compressed, treated, processed, purchased and sold through ETP’s pipeline and gathering systems and the level of natural gas and NGL prices. ETP generates midstream revenues and segment margins principally under fee-based or other arrangements in which ETP receives a fee for natural gas gathering, compressing, treating or processing services. The revenue earned from these arrangements is directly related to the volume of natural gas that flows through ETP’s systems and is not directly dependent on commodity prices. ETP also utilizes other types of arrangements in ETP’s midstream operations, including (i) discount-to-index price arrangements, which involve purchases of natural gas at either (1) a percentage discount to a specified index price, (2) a specified index price less a fixed amount or (3) a percentage discount to a specified index price less an additional fixed amount, (ii) percentage-of-proceeds arrangements under which ETP gathers and processes natural gas on behalf of producers, sells the resulting residue gas and NGL volumes at market prices and remits to producers an agreed upon percentage of the proceeds based on an index price, (iii) keep-whole arrangements where ETP gathers natural gas from the producer, processes the natural gas and sells the resulting NGLs to third parties at market prices, (iv) purchasing all or a specified percentage of natural gas and/or NGL delivered from producers and treating or processing ETP’s plant facilities, and (v) making other direct purchases of natural gas and/or NGL at specified delivery points to meet operational or marketing objectives. In many cases, ETP provides services under contracts that contain a combination of more than one of the arrangements described above. The terms of ETP’s contracts vary based on gas quality conditions, the competitive environment at the time the contracts are signed and customer requirements. ETP’s contract mix may change as a result of changes in producer preferences, expansion in regions where some types of contracts are more common and other market factors. NGL storage and pipeline transportation revenues are recognized when services are performed or products are delivered, respectively. Fractionation and processing revenues are recognized when product is either loaded into a truck or injected into a third-party pipeline, which is when title and risk of loss pass to the customer. In ETP’s natural gas compression business, revenue is recognized for compressor packages and technical service jobs using the completed contract method which recognizes revenue upon completion of the job. Costs incurred on a job are deducted at the time revenue is recognized. ETP conducts marketing activities in which ETP markets the natural gas that flows through ETP’s assets, referred to as on-system gas. ETP also attracts other customers by marketing volumes of natural gas that do not move through ETP’s assets, referred to as off-system gas. For both on-system and off-system gas, ETP purchases natural gas from natural gas producers and other supply points and sells that natural gas to utilities, industrial consumers, other marketers and pipeline companies, thereby generating gross margins based upon the difference between the purchase and resale prices. Terminalling and storage revenues are recognized at the time the services are provided. Pipeline revenues are recognized upon delivery of the barrels to the location designated by the shipper. Crude oil acquisition and marketing revenues, as well as refined product marketing revenues, are recognized when title to the product is transferred to the customer. Revenues are not recognized for crude oil exchange transactions, which are entered into primarily to acquire crude oil of a desired quality or to reduce transportation costs by taking delivery closer to end markets. Any net differential for exchange transactions is recorded as an adjustment of inventory costs in the purchases component of cost of products sold and operating expenses in the statements of operations. Investment in Sunoco LP Revenues from Sunoco LP’s two primary product categories, motor fuel and merchandise, are recognized either at the time fuel is delivered to the customer or at the time of sale. Shipment and delivery of motor fuel generally occurs on the same day. Sunoco LP charges its wholesale customers for third-party transportation costs, which are recorded net in cost of sales. Sunoco LP may sell motor fuel to wholesale customers on a commission agent basis, in which Sunoco LP retains title to inventory, control access to and sale of fuel inventory, and recognize revenue at the time the fuel is sold to the ultimate customer. Sunoco LP derives other income from rental income, propane and lubricating oils and other ancillary product and service offerings. Sunoco LP derives other income from lottery ticket sales, money orders, prepaid phone cards and wireless services, ATM transactions, car washes, movie rentals and other ancillary product and service offerings. Sunoco LP records revenue on a net commission basis when the product is sold and/or services are rendered. Rental income from operating leases is recognized on a straight line basis over the term of the lease. Investment in Lake Charles LNG Lake Charles LNG’s revenues from storage and re-gasification of natural gas are based on capacity reservation charges and, to a lesser extent, commodity usage charges. Reservation revenues are based on contracted rates and capacity reserved by the customers and recognized monthly. Revenues from commodity usage charges are also recognized monthly and represent the recovery of electric power charges at Lake Charles LNG’s terminal. Regulatory Accounting – Regulatory Assets and Liabilities ETP’s interstate transportation and storage operations are subject to regulation by certain state and federal authorities and certain subsidiaries in those operations have accounting policies that conform to the accounting requirements and ratemaking practices of the regulatory authorities. The application of these accounting policies allows certain of ETP’s regulated entities to defer expenses and revenues on the balance sheet as regulatory assets and liabilities when it is probable that those expenses and revenues will be allowed in the ratemaking process in a period different from the period in which they would have been reflected in the consolidated statement of operations by an unregulated company. These deferred assets and liabilities will be reported in results of operations in the period in which the same amounts are included in rates and recovered from or refunded to customers. Management’s assessment of the probability of recovery or pass through of regulatory assets and liabilities will require judgment and interpretation of laws and regulatory commission orders. If, for any reason, ETP ceases to meet the criteria for application of regulatory accounting treatment for these entities, the regulatory assets and liabilities related to those portions ceasing to meet such criteria would be eliminated from the consolidated balance sheet for the period in which the discontinuance of regulatory accounting treatment occurs. Although Panhandle’s natural gas transmission systems and storage operations are subject to the jurisdiction of FERC in accordance with the NGA and NGPA, it does not currently apply regulatory accounting policies in accounting for its operations. Panhandle does not apply regulatory accounting policies primarily due to the level of discounting from tariff rates and its inability to recover specific costs. Cash, Cash Equivalents and Supplemental Cash Flow Information Cash and cash equivalents include all cash on hand, demand deposits, and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. We place our cash deposits and temporary cash investments with high credit quality financial institutions. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limit. The net change in operating assets and liabilities (net of effects of acquisitions, dispositions and deconsolidation) included in cash flows from operating activities was comprised as follows: Years Ended December 31, 2017 2016 2015 Accounts receivable $ (948 ) $ (1,126 ) $ 856 Accounts receivable from related companies 24 42 (5 ) Inventories 58 (480 ) (212 ) Other current assets 38 165 (225 ) Other non-current assets, net 84 (148 ) 247 Accounts payable 712 1,170 (1,070 ) Accounts payable to related companies (178 ) (64 ) 400 Accrued and other current liabilities (97 ) 89 (697 ) Other non-current liabilities 106 106 (241 ) Derivative assets and liabilities, net 9 67 75 Net change in operating assets and liabilities, net of effects of acquisitions $ (192 ) $ (179 ) $ (872 ) Non-cash investing and financing activities and supplemental cash flow information were as follows: Years Ended December 31, 2017 2016 2015 NON-CASH INVESTING ACTIVITIES: Accrued capital expenditures $ 1,060 $ 848 $ 910 Net gains (losses) from subsidiary common unit transactions (56 ) 16 (526 ) NON-CASH FINANCING ACTIVITIES: Issuance of Common Units in connection with the PennTex Acquisition $ — $ 307 $ — Contribution of assets from noncontrolling interest 988 — 34 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest, net of interest capitalized $ 1,914 $ 1,922 $ 1,800 Cash paid for (refund of) income taxes 50 (229 ) 72 Accounts Receivable Our subsidiaries assess the credit risk of their customers and take steps to mitigate risk as necessary. Management reviews accounts receivable and an allowance for doubtful accounts is determined based on the overall creditworthiness of customers, historical write-off experience, general and specific economic trends, and identification of specific customers with payment issues. Inventories As discussed under “Change in Accounting Policy” in Note 2, ETP changed its accounting policy for certain inventory in the fourth quarter of 2017. Inventories consist principally of natural gas held in storage, NGLs and refined products, crude oil and spare parts, all of which are valued at the lower of cost or net realizable value utilizing the weighted-average cost method. Inventories consisted of the following: December 31, 2017 2016 Natural gas, NGLs, and refined products $ 1,120 $ 1,141 Crude oil 551 651 Spare parts and other 351 263 Total inventories $ 2,022 $ 2,055 ETP utilizes commodity derivatives to manage price volatility associated with certain of its natural gas inventory and designates certain of these derivatives as fair value hedges for accounting purposes. Changes in fair value of the designated hedged inventory have been recorded in inventory on our consolidated balance sheets and in cost of products sold in our consolidated statements of operations. Other Current Assets Other current assets consisted of the following: December 31, 2017 2016 Deposits paid to vendors $ 64 $ 74 Prepaid expenses and other 231 373 Total other current assets $ 295 $ 447 Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful or FERC mandated lives of the assets, if applicable. Expenditures for maintenance and repairs that do not add capacity or extend the useful life are expensed as incurred. Expenditures to refurbish assets that either extend the useful lives of the asset or prevent environmental contamination are capitalized and depreciated over the remaining useful life of the asset. Natural gas and NGLs used to maintain pipeline minimum pressures is capitalized and classified as property, plant and equipment. Additionally, our subsidiaries capitalize certain costs directly related to the construction of assets including internal labor costs, interest and engineering costs. Upon disposition or retirement of pipeline components or natural gas plant components, any gain or loss is recorded to accumulated depreciation. When entire pipeline systems, gas plants or other property and equipment are retired or sold, any gain or loss is included in our consolidated statements of operations. Property, plant and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of long-lived assets is not recoverable, we reduce the carrying amount of such assets to fair value. In 2017, ETP recorded a $127 million fixed asset impairment related to Sea Robin primarily due to a reduction in expected future cash flows due to an increase during 2017 in insurance costs related to offshore assets. In 2016, ETP recorded a $133 million fixed asset impairment related to its interstate transportation and storage operations primarily due to expected decreases in future cash flows driven by declines in commodity prices as well as a $10 million impairment to property, plant and equipment in its midstream operations. In 2015, ETP recorded a $110 million fixed asset impairment related to its NGL and refined products transportation and services operations primarily due to an expected decrease in future cash flows. No other fixed asset impairments were identified or recorded for its reporting units during the periods presented. Capitalized interest is included for pipeline construction projects, except for certain interstate projects for which an allowance for funds used during construction (“AFUDC”) is accrued. Interest is capitalized based on the current borrowing rate of our revolving credit facilities when the related costs are incurred. AFUDC is calculated under guidelines prescribed by the FERC and capitalized as part of the cost of utility plant for interstate projects. It represents the cost of servicing the capital invested in construction work-in-process. AFUDC is segregated into two component parts – borrowed funds and equity funds. Components and useful lives of property, plant and equipment were as follows: December 31, 2017 2016 Land and improvements $ 2,222 $ 1,189 Buildings and improvements (1 to 45 years) 2,786 2,247 Pipelines and equipment (5 to 83 years) 44,673 36,570 Natural gas and NGL storage facilities (5 to 46 years) 1,681 1,451 Bulk storage, equipment and facilities (2 to 83 years) 3,883 3,701 Vehicles (1 to 25 years) 126 217 Right of way (20 to 83 years) 3,432 3,349 Natural resources 434 434 Other (1 to 40 years) 1,029 2,285 Construction work-in-process 10,911 10,119 71,177 61,562 Less – Accumulated depreciation and depletion (10,089 ) (7,984 ) Property, plant and equipment, net $ 61,088 $ 53,578 We recognized the following amounts for the periods presented: Years Ended December 31, 2017 2016 2015 Depreciation and depletion expense $ 2,204 $ 1,952 $ 1,661 Capitalized interest 286 201 164 Advances to and Investments in Affiliates Certain of our subsidiaries own interests in a number of related businesses that are accounted for by the equity method. In general, we use the equity method of accounting for an investment for which we exercise significant influence over, but do not control, the investee’s operating and financial policies. An impairment of an investment in an unconsolidated affiliate is recognized when circumstances indicate that a decline in the investment value is other than temporary. Other Non-Current Assets, net Other non-current assets, net are stated at cost less accumulated amortization. Other non-current assets, net consisted of the following: December 31, 2017 2016 Regulatory assets 85 86 Deferred charges 210 217 Restricted funds 192 190 Other 399 322 Total other non-current assets, net $ 886 $ 815 Restricted funds primarily consisted of restricted cash held in our wholly-owned captive insurance companies. Intangible Assets Intangible assets are stated at cost, net of amortization computed on the straight-line method. The Partnership removes the gross carrying amount and the related accumulated amortization for any fully amortized intangibles in the year they are fully amortized. Components and useful lives of intangible assets were as follows: December 31, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer relationships, contracts and agreements (3 to 46 years) $ 6,979 $ (1,277 ) $ 6,050 $ (971 ) Trade names (20 years) 66 (25 ) 66 (22 ) Patents (10 years) 48 (26 ) 48 (21 ) Other (5 to 20 years) 28 (14 ) 25 (10 ) Total amortizable intangible assets 7,121 (1,342 ) 6,189 (1,024 ) Non-amortizable intangible assets: Trademarks 295 — 288 — Other 42 — 59 — Total intangible assets $ 7,458 $ (1,342 ) $ 6,536 $ (1,024 ) Aggregate amortization expense of intangibles assets was as follows: Years Ended December 31, 2017 2016 2015 Reported in depreciation, depletion and amortization $ 344 $ 264 $ 290 Estimated aggregate amortization expense of intangible assets for the next five years was as follows: Years Ending December 31: 2018 $ 341 2019 338 2020 336 2021 319 2022 287 We review amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of amortizable intangible assets is not recoverable, we reduce the carrying amount of such assets to fair value. We review non-amortizable intangible assets for impairment annually, or more frequently if circumstances dictate. Sunoco LP performed impairment tests on their indefinite-lived intangible assets during the fourth quarter of 2017 and recognized $13 million and $4 million impairment charge on their contractual rights and liquor licenses, included in Other in the table above, primarily due to decreases in projected future revenues and cash flows from the date the intangible asset was originally recorded. In 2015, ETP recorded $24 million of intangible asset impairments related to its NGL and retail products transportation and services operations primarily due to an expected decrease in future cash flows. Goodwill Goodwill is tested for impairment annually or more frequently if circumstances indicate that goodwill might be impaired. The annual impairment test is performed during the fourth quarter. Changes in the carrying amount of goodwill were as follows: Investment in ETP Investment in Sunoco LP Investment in Lake Charles LNG Corporate, Other and Eliminations Total Balance, December 31, 2015 $ 5,428 $ 1,694 $ 184 $ (1,250 ) $ 6,056 Goodwill acquired 428 81 — — 509 Sunoco LP Exchange (1,289 ) — — 1,289 — Goodwill impairment (670 ) (227 ) — — (897 ) Other — 2 — — 2 Balance, December 31, 2016 3,897 1,550 184 39 5,670 Goodwill acquired 12 — — — 12 Goodwill impairment (793 ) (102 ) — — (895 ) Other (1 ) (18 ) — — (19 ) Balance, December 31, 2017 $ 3,115 $ 1,430 $ 184 $ 39 $ 4,768 Goodwill is recorded at the acquisition date based on a preliminary purchase price allocation and generally may be adjusted when the purchase price allocation is finalized. During the fourth quarter of 2017, ETP recognized goodwill impairments of $262 million in its interstate transportation and storage operations, $79 million in its NGL and refined products transportation and services operations and $452 million in its all other operations primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. Sunoco LP recognized goodwill impairments of $387 million , of which $102 million was allocated to continuing operations, primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. During the fourth quarter of 2016, ETP recognized goodwill impairments of $638 million in its interstate transportation and storage operations and $32 million in its midstream operations primarily due to decreases in projected future revenues and cash flows driven by declines in commodity prices and changes in the markets that these assets serve. Sunoco LP recognized goodwill impairments of $641 million , of which $227 million was allocated to continuing operations, primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. During the fourth quarter of 2015, ETP recognized goodwill impairments of $99 million in its interstate transportation and storage operations and $106 million in its NGL and refined products transportation and services operations primarily due to market declines in current and expected future commodity prices in the fourth quarter of 2015. The Partnership determined the fair value of our reporting un |
Acquisitions and Related Transa
Acquisitions and Related Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Acquisitions and Dispositions [Abstract] | |
Acquisitions and Related Transactions | ACQUISITIONS, DIVESTITURES AND RELATED TRANSACTIONS : 2018 Transactions CDM Contribution Agreement In January 2018, ETP entered into a contribution agreement (“CDM Contribution Agreement”) with ETP GP, ETC Compression, LLC, USAC and ETE, pursuant to which, among other things, ETP will contribute to USAC and USAC will acquire from ETP all of the issued and outstanding membership interests of CDM and CDM E&T for aggregate consideration of approximately $1.7 billion , consisting of (i) 19,191,351 common units representing limited partner interests in USAC (“USAC Common Units”), with a value of approximately $335 million , (ii) 6,397,965 units of a newly authorized and established class of units representing limited partner interests in USAC (“Class B Units”), with a value of approximately $112 million and (iii) an amount in cash equal to $1.225 billion , subject to certain adjustments. The Class B Units that ETP will receive will be a new class of partnership interests of USAC that will have substantially all of the rights and obligations of a USAC Common Unit, except the Class B Units will not participate in distributions made prior to the one year anniversary of the closing date of the CDM Contribution Agreement (such date, the “Class B Conversion Date”) with respect to USAC Common Units. On the Class B Conversion Date, each Class B Unit will automatically convert into one USAC Common Unit. The transaction is expected to close in the first half of 2018, subject to customary closing conditions. In connection with the CDM Contribution Agreement, ETP entered into a purchase agreement with ETE, Energy Transfer Partners, L.L.C. (together with ETE, the “GP Purchasers”), USAC Holdings and, solely for certain purposes therein, R/C IV USACP Holdings, L.P., pursuant to which, among other things, the GP Purchasers will acquire from USAC Holdings (i) all of the outstanding limited liability company interests in USA Compression GP, LLC, the general partner of USAC (“USAC GP”), and (ii) 12,466,912 USAC Common Units for cash consideration equal to $250 million . Sunoco LP Convenience Store and Real Estate Sale On January 23, 2018, Sunoco LP closed on an asset purchase agreement with 7-Eleven, Inc., a Texas corporation (“7-Eleven”) and SEI Fuel Services, Inc., a Texas corporation and wholly-owned subsidiary of 7-Eleven (“SEI Fuel” and together with 7-Eleven, referred to herein collectively as “Buyers”). Under the agreement, Sunoco LP sold a portfolio of approximately 1,030 company-operated retail fuel outlets in 19 geographic regions, together with ancillary businesses and related assets, including the proprietary Laredo Taco Company brand, for an aggregate purchase price of $3.3 billion. Sunoco LP has signed definitive agreements with a commission agent to operate the approximately 207 retail sites located in certain West Texas, Oklahoma and New Mexico markets, which were not included in the previously announced transaction with 7-Eleven, Inc. Conversion of these sites to the commission agent is expected to occur in the first quarter of 2018. On January 18, 2017, with the assistance of a third-party brokerage firm, Sunoco LP launched a portfolio optimization plan to market and sell 97 real estate assets. Real estate assets included in this process are company-owned locations, undeveloped greenfield sites and other excess real estate. Properties are located in Florida, Louisiana, Massachusetts, Michigan, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Texas and Virginia. The properties were marketed through a sealed-bid sale. Sunoco LP will review all bids before divesting any assets. As of December 31, 2017, of the 97 properties, 40 have been sold, 5 are under contract to be sold, and 11 continue to be marketed by the third-party brokerage firm. Additionally, 32 were sold to 7-Eleven and nine are part of the approximately 207 retail sites located in certain West Texas, Oklahoma, and New Mexico markets which will be operated by a commission agent. The assets under the asset purchase agreement and the real estate assets subject to the portfolio optimization plan comprise the retail divestment presented as discontinued operations (“Retail Divestment”). The Partnership has concluded that it meets the accounting requirements for reporting results of operations and cash flows of Sunoco LP’s continental United States retail convenience stores as discontinued operations and the related assets and liabilities as held for sale. The following tables present the aggregate carrying amounts of assets and liabilities classified as held for sale in the consolidated balance sheet: December 31, 2017 December 31, 2016 Carrying amount of assets included as part of discontinued operations: Accounts receivable, net $ 21 $ 16 Inventories 149 150 Other current assets 16 11 Property and equipment, net 1,851 1,860 Goodwill 796 1,068 Intangible assets, net 477 480 Other noncurrent assets 3 3 Total assets classified as held for sale in the Consolidated Balance Sheet $ 3,313 $ 3,588 Carrying amount of liabilities included as part of discontinued operations: Other current and noncurrent liabilities $ 75 $ 48 Total liabilities classified as held for sale in the Consolidated Balance Sheet $ 75 $ 48 The results of operations associated with discontinued operations are presented in the following table: Years Ended December 31, 2017 2016 2015 REVENUES $ 6,964 $ 5,712 $ 6,030 COSTS AND EXPENSES Cost of products sold 5,806 4,649 5,026 Operating expenses 763 744 705 Depreciation, depletion and amortization 34 143 128 Selling, general and administrative 168 114 91 Impairment losses 285 447 — Total costs and expenses 7,056 6,097 5,950 OPERATING INCOME (92 ) (385 ) 80 Interest expense, net 36 28 21 Other, net 1 8 (2 ) INCOME (LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE (129 ) (421 ) 61 Income tax expense 48 41 23 INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES $ (177 ) $ (462 ) $ 38 INCOME (LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE (BENEFIT) ATTRIBUTABLE TO ETE $ (6 ) $ (12 ) $ 1 In connection with the classification of those assets as held-for-sale, the related goodwill was tested for impairment based on the assumed proceeds from the sale of those assets, resulting in goodwill impairment charges of $285 million recognized in 2017. 2017 Transactions Rover Contribution Agreement In October 2017, ETP completed the previously announced contribution transaction with a fund managed by Blackstone Energy Partners and Blackstone Capital Partners, pursuant to which ETP exchanged a 49.9% interest in the holding company that owns 65% of the Rover pipeline (“Rover Holdco”). As a result, Rover Holdco is now owned 50.1% by ETP and 49.9% by Blackstone. Upon closing, Blackstone contributed funds to reimburse ETP for its pro rata share of the Rover construction costs incurred by ETP through the closing date, along with the payment of additional amounts subject to certain adjustments. ETP and Sunoco Logistics Merger As discussed in Note 1, in April 2017, Energy Transfer Partners, L.P. and Sunoco Logistics completed the Sunoco Logistics Merger. Permian Express Partners In February 2017, Sunoco Logistics formed PEP, a strategic joint venture with ExxonMobil. Sunoco Logistics contributed its Permian Express 1, Permian Express 2, Permian Longview and Louisiana Access pipelines. ExxonMobil contributed its Longview to Louisiana and Pegasus pipelines, Hawkins gathering system, an idle pipeline in southern Oklahoma, and its Patoka, Illinois terminal. Assets contributed to PEP by ExxonMobil were reflected at fair value on the Partnership’s consolidated balance sheet at the date of the contribution, including $547 million of intangible assets and $435 million of property, plant and equipment. In July 2017, the Partnership contributed an approximate 15% ownership interest in Dakota Access and ETCO to PEP, which resulted in an increase in the Partnership’s ownership interest in PEP to approximately 88% . The Partnership maintains a controlling financial and voting interest in PEP and is the operator of all of the assets. As such, PEP is reflected as a consolidated subsidiary of the Partnership. ExxonMobil’s interest in PEP is reflected as noncontrolling interest in the consolidated balance sheets. ExxonMobil’s contribution resulted in an increase of $988 million in noncontrolling interest, which is reflected in “Capital contributions from noncontrolling interest” in the consolidated statement of equity. Bakken Equity Sale In February 2017, Bakken Holdings Company LLC, an entity in which ETP indirectly owns a 100% membership interest, sold a 49% interest in its wholly-owned subsidiary, Bakken Pipeline Investments LLC, to MarEn Bakken Company LLC, an entity jointly owned by MPLX LP and Enbridge Energy Partners, L.P., for $2.00 billion in cash. Bakken Pipeline Investments LLC indirectly owns a 75% interest in each of Dakota Access and ETCO. The remaining 25% of each of Dakota Access and ETCO is owned by wholly-owned subsidiaries of Phillips 66. ETP continues to consolidate Dakota Access and ETCO subsequent to this transaction. 2016 Transactions WMB Merger On June 24, 2016, the Delaware Court of Chancery issued an opinion finding that ETE was contractually entitled to terminate its Merger Agreement with WMB in the event Latham & Watkins LLP (“Latham”) were unable to deliver a required tax opinion on or prior to June 28, 2016. Latham advised ETE that it was unable to deliver the tax opinion as of June 28, 2016. Consistent with its rights and obligations under the merger agreement, ETE subsequently provided written notice terminating the merger agreement due to the failure of conditions under the merger agreement, including Latham’s inability to deliver the tax opinion, as well as the other bases detailed in ETE’s filings in the Delaware lawsuit referenced above. WMB has appealed the decision by the Delaware Court of Chancery to the Delaware Supreme Court. PennTex Acquisition On November 1, 2016, ETP acquired certain interests in PennTex from various parties for total consideration of approximately $627 million in ETP units and cash. Through this transaction, ETP acquired a controlling financial interest in PennTex, whose assets complement ETP’s existing midstream footprint in northern Louisiana. As discussed in Note 8 , ETP purchased PennTex’s remaining outstanding common units in June 2017. Summary of Assets Acquired and Liabilities Assumed We accounted for the PennTex acquisition using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized on the balance sheet at their fair values as of the acquisition date. The total purchase price was allocated as follows: At November 1, 2016 Total current assets $ 34 Property, plant and equipment 393 Goodwill (1) 177 Intangible assets 446 1,050 Total current liabilities 6 Long-term debt, less current maturities 164 Other non-current liabilities 17 Noncontrolling interest 236 423 Total consideration 627 Cash received 21 Total consideration, net of cash received $ 606 (1) None of the goodwill is expected to be deductible for tax purposes. The fair values of the assets acquired and liabilities assumed were determined using various valuation techniques, including the income and market approaches. Sunoco Logistics’ Vitol Acquisition In November 2016, Sunoco Logistics completed an acquisition from Vitol, Inc. (“Vitol”) of an integrated crude oil business in West Texas for $760 million plus working capital. The acquisition provides Sunoco Logistics with an approximately 2 million barrel crude oil terminal in Midland, Texas, a crude oil gathering and mainline pipeline system in the Midland Basin, including a significant acreage dedication from an investment-grade Permian producer, and crude oil inventories related to Vitol’s crude oil purchasing and marketing business in West Texas. The acquisition also included the purchase of a 50% interest in SunVit Pipeline LLC (“SunVit”), which increased Sunoco Logistics’ overall ownership of SunVit to 100% . The $769 million purchase price, net of cash received, consisted primarily of net working capital of $13 million largely attributable to inventory and receivables; property, plant and equipment of $286 million primarily related to pipeline and terminalling assets; intangible assets of $313 million attributable to customer relationships; and goodwill of $251 million . Bakken Financing In August 2016, ETP and Phillips 66 announced the completion of the project-level financing of the Bakken Pipeline. The $2.50 billion credit facility provided substantially all of the remaining capital necessary to complete the projects. As of December 31, 2017 , $2.50 billion was outstanding under this credit facility. Bayou Bridge In April 2016, Bayou Bridge Pipeline, LLC (“Bayou Bridge”), a joint venture among ETP, Sunoco Logistics and Phillips 66, began commercial operations on the 30-inch segment of the pipeline from Nederland, Texas to Lake Charles, Louisiana. ETP and Sunoco Logistics each hold a 30% interest in the entity and Sunoco Logistics is the operator of the system. Sunoco Retail to Sunoco LP In March 2016, ETP contributed to Sunoco LP its remaining 68.42% interest in Sunoco, LLC and 100% interest in the legacy Sunoco, Inc. retail business for $2.23 billion . Sunoco LP paid $2.20 billion in cash, including a working capital adjustment and issued 5.7 million Sunoco LP common units to Retail Holdings, a wholly-owned subsidiary of the Partnership. The transaction was effective January 1, 2016. Sunoco LP Acquisitions In August 2016, Sunoco LP acquired the fuels business from Emerge Energy Services LP for $171 million , including tax deductible goodwill of $53 million and intangible assets of $56 million . Additionally, during 2016, Sunoco LP made other acquisitions primarily consisting of convenience stores, totaling $114 million plus the value of inventory on hand at closing and increasing goodwill by $61 million . In October 2016, Sunoco LP completed the acquisition of a convenience store, wholesale motor fuel distribution, and commercial fuels distribution business for approximately $55 million plus inventory on hand at closing, subject to closing adjustments. 2015 Transactions Sunoco LP In April 2015, Sunoco LP acquired a 31.58% equity interest in Sunoco, LLC from Retail Holdings for $816 million . Sunoco, LLC distributes approximately 5.3 billion gallons of motor fuel per year to customers in the east, midwest and southwest regions of the United States. Sunoco LP paid $775 million in cash and issued a value of $41 million in Sunoco LP common units to Retail Holdings, based on the five-day volume-weighted average price of Sunoco LP’s common units as of March 20, 2015. In July 2015, in exchange for the contribution of 100% of Susser from ETP to Sunoco LP, Sunoco LP paid $970 million in cash and issued to ETP subsidiaries 22 million Sunoco LP Class B units valued at $970 million . The Sunoco Class B units did not receive second quarter 2015 cash distributions from Sunoco LP and converted on a one-for-one basis into Sunoco LP common units on the day immediately following the record date for Sunoco LP’s second quarter 2015 distribution. In addition, (i) a Susser subsidiary exchanged its 79,308 Sunoco LP common units for 79,308 Sunoco LP Class A units, (ii) 10.9 million Sunoco LP subordinated units owned by Susser subsidiaries were converted into 10.9 million Sunoco LP Class A units and (iii) Sunoco LP issued 79,308 Sunoco LP common units and 10.9 million Sunoco LP subordinated units to subsidiaries of ETP. The Sunoco LP Class A units owned by the Susser subsidiaries were contributed to Sunoco LP as part of the transaction. Sunoco LP subsequently contributed its interests in Susser to one of its subsidiaries. Effective July 1, 2015, ETE acquired 100% of the membership interests of Sunoco GP, the general partner of Sunoco LP, and all of the IDRs of Sunoco LP from ETP, and in exchange, ETP repurchased from ETE 31.5 million ETP common units owned by ETE. In connection with ETP’s 2014 acquisition of Susser, ETE agreed to provide ETP a $35 million annual IDR subsidy for 10 years , which terminated upon the closing of ETE’s acquisition of Sunoco GP. In connection with the exchange and repurchase, ETE will provide ETP a $35 million annual IDR subsidy for two years beginning with the quarter ended September 30, 2015. Bakken Pipeline In March 2015, ETE transferred 46.2 million ETP common units, ETE’s 45% interest in the Bakken Pipeline project, and $879 million in cash to ETP in exchange for 30.8 million newly issued ETP Class H Units that, when combined with the 50.2 million previously issued ETP Class H Units, generally entitled ETE to receive 90.05% of the cash distributions and other economic attributes of the general partner interest and IDRs of Sunoco Logistics (the “Bakken Pipeline Transaction”). In connection with this transaction, ETP also issued to ETE 100 ETP Class I Units that provided distributions to ETE to offset IDR subsidies previously provided to ETP. These IDR subsidies, including the impact from distributions on ETP Class I Units, were reduced by $55 million in 2015 and $30 million in 2016. The Class H Units were cancelled in connection with the Sunoco Logistics Merger in April 2017. In October 2015, Sunoco Logistics completed the acquisition of a 40% membership interest (the “Bakken Membership Interest”) in Bakken Holdings Company LLC (“Bakken Holdco”). Bakken Holdco, through its wholly-owned subsidiaries, owns a 75% membership interest in each of Dakota Access and ETCO, which together intend to develop the Bakken Pipeline system to deliver crude oil from the Bakken/Three Forks production area in North Dakota to the Gulf Coast. ETP transferred the Bakken Membership Interest to Sunoco Logistics in exchange for approximately 9.4 million Class B Units representing limited partner interests in Sunoco Logistics and the payment by Sunoco Logistics to ETP of $382 million of cash, which represented reimbursement for its proportionate share of the total cash contributions made in the Bakken Pipeline project as of the date of closing of the exchange transaction. Regency Merger On April 30, 2015, a wholly-owned subsidiary of ETP merged with Regency, with Regency surviving as a wholly-owned subsidiary of ETP (the “Regency Merger”). Each Regency common unit and Class F unit was converted into the right to receive 0.6186 common units of ETP. ETP issued 258.3 million ETP common units to Regency unitholders, including 23.3 million units issued to ETP subsidiaries. Regency’s 1.9 million outstanding Series A Convertible Preferred Units were converted into corresponding new ETP Series A Convertible Preferred Units on a one-for-one basis. In connection with the Regency Merger, ETE agreed to reduce the incentive distributions it receives from ETP by a total of $320 million over a five-year period. The IDR subsidy was $80 million for the year ended December 31, 2015 and will total $60 million per year for the following four years. ETP has assumed all of the obligations of Regency and Regency Energy Finance Corp., of which ETP was previously a co-obligor or parent guarantor. |
Advances to and Investments in
Advances to and Investments in Unconsolidated Affiliates | 12 Months Ended |
Dec. 31, 2017 | |
Investment In Affiliates [Abstract] | |
Investments In Affiliates | ADVANCES TO AND INVESTMENTS IN UNCONSOLIDATED AFFILIATES : Citrus ETP owns CrossCountry, which owns a 50% interest in Citrus. The other 50% interest in Citrus is owned by a subsidiary of KMI. Citrus owns 100% of FGT, a natural gas pipeline system that originates in Texas and delivers natural gas to the Florida peninsula. FEP ETP has a 50% interest in FEP which owns an approximately 185-mile natural gas pipeline that originates in Conway County, Arkansas, continues eastward through White County, Arkansas and terminates at an interconnect with Trunkline Gas Company in Panola County, Mississippi. ETP evaluated its investment in FEP for impairment as of December 31, 2017, based on FASB Accounting Standards Codification 323, Investments - Equity Method and Joint Ventures . ETP recorded an impairment of its investment in FEP of $141 million during the year ended December 31, 2017 due to a negative outlook for long-term transportation contracts as a result of a decrease in production in the Fayetteville basin and a customer re-contracting with a competitor. MEP ETP owns a 50% interest in MEP, which owns approximately 500 miles of natural gas pipeline that extends from Southeast Oklahoma, across Northeast Texas, Northern Louisiana and Central Mississippi to an interconnect with the Transcontinental natural gas pipeline system in Butler, Alabama. ETP evaluated its investment in MEP for impairment as of September 30, 2016, based on FASB Accounting Standards Codification 323, Investments - Equity Method and Joint Ventures . Based on commercial discussions with current and potential shippers on MEP regarding the outlook for long-term transportation contract rates, the Partnership concluded that the fair value of its investment was other than temporarily impaired, resulting in a non-cash impairment of $308 million during the year ended December 31, 2016. HPC ETP owns a 49.99% interest in HPC, which, through its ownership of RIGS, delivers natural gas from Northwest Louisiana to downstream pipelines and markets through a 450-mile intrastate pipeline system. ETP evaluated its investment in HPC for impairment as of December 31, 2017, based on FASB Accounting Standards Codification 323, Investments - Equity Method and Joint Ventures . During the year ended December 31, 2017, ETP recorded a $172 million impairment of its equity method investment in HPC primarily due to a decrease in projected future revenues and cash flows driven by the bankruptcy of one of HPC’s major customers in 2017 and an expectation that contracts expiring in the next few years will be renewed at lower tariff rates and lower volumes. The carrying values of the Partnership’s investments in unconsolidated affiliates as of December 31, 2017 and 2016 , were as follows: December 31, 2017 2016 Citrus $ 1,754 $ 1,729 FEP 121 101 MEP 242 318 HPC 28 382 Others 560 510 Total $ 2,705 $ 3,040 The following table presents equity in earnings (losses) of unconsolidated affiliates: December 31, Equity in earnings (losses) of unconsolidated affiliates: 2017 2016 2015 Citrus $ 144 $ 102 $ 97 FEP 53 51 55 MEP 38 40 45 HPC (1) (168 ) 31 32 Others 77 46 47 Total $ 144 $ 270 $ 276 (1) For the year ended December 31, 2017 , equity in earnings (losses) of unconsolidated affiliates includes the impact of non-cash impairments recorded by HPC, which reduced the Partnership’s equity in earnings by $185 million . Summarized Financial Information The following tables present aggregated selected balance sheet and income statement data for our unconsolidated affiliates, including Citrus, FEP, HPC and MEP (on a 100% basis) for all periods presented: December 31, 2017 2016 Current assets $ 206 $ 214 Property, plant and equipment, net 8,336 8,726 Other assets 43 181 Total assets $ 8,585 $ 9,121 Current liabilities $ 861 $ 816 Non-current liabilities 4,492 4,940 Equity 3,232 3,365 Total liabilities and equity $ 8,585 $ 9,121 Years Ended December 31, 2017 2016 2015 Revenue $ 1,358 $ 1,164 $ 1,385 Operating income 407 714 800 Net income 145 384 470 In addition to the equity method investments described above our subsidiaries have other equity method investments which are not significant to our consolidated financial statements. |
Net Income Per Limited Partner
Net Income Per Limited Partner Unit | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Net Income Per Limited Partner Unit | NET INCOME PER LIMITED PARTNER UNIT : Basic net income per limited partner unit is computed by dividing net income, after considering the General Partner’s interest, by the weighted average number of limited partner interests outstanding. Diluted net income per limited partner unit is computed by dividing net income (as adjusted as discussed herein), after considering the General Partner’s interest, by the weighted average number of limited partner interests outstanding and the assumed conversion of the ETE Series A Convertible Preferred Units, as discussed in Note 8 . For the diluted earnings per share computation, income allocable to the limited partners is reduced, where applicable, for the decrease in earnings from ETE’s limited partner unit ownership in ETP or Sunoco LP that would have resulted assuming the incremental units related to ETP’s or Sunoco LP’s equity incentive plans, as applicable, had been issued during the respective periods. Such units have been determined based on the treasury stock method. A reconciliation of net income and weighted average units used in computing basic and diluted net income per unit is as follows: Years Ended December 31, 2017 2016 2015 Income from continuing operations $ 2,543 $ 462 $ 1,023 Less: Income (loss) from continuing operations attributable to noncontrolling interest 1,583 (545 ) (165 ) Income from continuing operations, net of noncontrolling interest 960 1,007 1,188 Less: General Partner’s interest in income from continuing operations 2 3 3 Less: Convertible Unitholders’ interest in net income from continuing operations 38 8 — Less: Class D Unitholder’s interest in income from continuing operations — — 3 Income from continuing operations available to Limited Partners $ 920 $ 996 $ 1,182 Basic Income from Continuing Operations per Limited Partner Unit: Weighted average limited partner units 1,078.2 1,045.5 1,062.8 Basic income from continuing operations per Limited Partner unit $ 0.86 $ 0.95 $ 1.11 Basic income (loss) from discontinued operations per Limited Partner unit $ (0.01 ) $ (0.01 ) $ — Diluted Income from Continuing Operations per Limited Partner Unit: Income from continuing operations available to Limited Partners $ 920 $ 996 $ 1,182 Dilutive effect of equity-based compensation of subsidiaries, distributions to Class D Unitholder and Convertible Units 38 8 3 Diluted income from continuing operations available to Limited Partners 958 1,004 1,185 Weighted average limited partner units 1,078.2 1,045.5 1,062.8 Dilutive effect of unconverted unit awards and Convertible Units 72.6 33.1 1.6 Weighted average limited partner units, assuming dilutive effect of unvested unit awards 1,150.8 1,078.6 1,064.4 Diluted income from continuing operations per Limited Partner unit $ 0.84 $ 0.93 $ 1.11 Diluted income (loss) from discontinued operations per Limited Partner unit $ (0.01 ) $ (0.01 ) $ — |
Debt Obligations
Debt Obligations | 12 Months Ended |
Dec. 31, 2017 | |
Debt Obligations [Abstract] | |
Debt Disclosure [Text Block] | DEBT OBLIGATIONS: Our debt obligations consist of the following: December 31, 2017 2016 Parent Company Indebtedness: 7.50% Senior Notes due October 15, 2020 $ 1,187 $ 1,187 5.875% Senior Notes due January 15, 2024 1,150 1,150 5.50% Senior Notes due June 1, 2027 1,000 1,000 4.25% Senior Notes due March 15, 2023 1,000 — ETE Senior Secured Term Loan due December 2, 2019 — 2,190 ETE Senior Secured Term Loan due February 2, 2024 1,220 — ETE Senior Secured Revolving Credit Facility due December 18, 2018 — 875 ETE Senior Secured Revolving Credit Facility due March 24, 2022 1,188 — Unamortized premiums, discounts and fair value adjustments, net (11 ) (15 ) Deferred debt issuance costs (34 ) (30 ) 6,700 6,357 Subsidiary Indebtedness: ETP Debt 6.125% Senior Notes due February 15, 2017 — 400 2.50% Senior Notes due June 15, 2018 (1) 650 650 6.70% Senior Notes due July 1, 2018 (1) 600 600 9.70% Senior Notes due March 15, 2019 400 400 9.00% Senior Notes due April 15, 2019 450 450 5.50% Senior Notes due February 15, 2020 250 250 5.75% Senior Notes due September 1, 2020 400 400 4.15% Senior Notes due October 1, 2020 1,050 1,050 4.40% Senior Notes due April 1, 2021 600 600 6.50% Senior Notes due July 15, 2021 — 500 4.65% Senior Notes due June 1, 2021 800 800 5.20% Senior Notes due February 1, 2022 1,000 1,000 4.65% Senior Notes due February 15, 2022 300 300 5.875% Senior Notes due March 1, 2022 900 900 5.00% Senior Notes due October 1, 2022 700 700 3.45% Senior Notes due January 15, 2023 350 350 3.60% Senior Notes due February 1, 2023 800 800 5.50% Senior Notes due April 15, 2023 — 700 4.50% Senior Notes due November 1, 2023 600 600 4.90% Senior Notes due February 1, 2024 350 350 7.60% Senior Notes due February 1, 2024 277 277 4.25% Senior Notes due April 1, 2024 500 500 9.00% Debentures due November 1, 2024 65 65 4.05% Senior Notes due March 15, 2025 1,000 1,000 5.95% Senior Notes due December 1, 2025 400 400 4.75% Senior Notes due January 15, 2026 1,000 1,000 3.90% Senior Notes due July 15, 2026 550 550 4.20% Senior Notes due April 15, 2027 600 — 4.00% Senior Notes due October 1, 2027 750 — 8.25% Senior Notes due November 15, 2029 267 267 4.90% Senior Notes due March 15, 2035 500 500 6.625% Senior Notes due October 15, 2036 400 400 7.50% Senior Notes due July 1, 2038 550 550 6.85% Senior Notes due February 15, 2040 250 250 6.05% Senior Notes due June 1, 2041 700 700 6.50% Senior Notes due February 1, 2042 1,000 1,000 6.10% Senior Notes due February 15, 2042 300 300 4.95% Senior Notes due January 15, 2043 350 350 5.15% Senior Notes due February 1, 2043 450 450 5.95% Senior Notes due October 1, 2043 450 450 5.30% Senior Notes due April 1, 2044 700 700 5.15% Senior Notes due March 15, 2045 1,000 1,000 5.35% Senior Notes due May 15, 2045 800 800 6.125% Senior Notes due December 15, 2045 1,000 1,000 5.30% Senior Notes due April 15, 2047 900 — 5.40% Senior Notes due October 1, 2047 1,500 — Floating Rate Junior Subordinated Notes due November 1, 2066 546 546 ETP $4.0 billion Revolving Credit Facility due December 2022 2,292 — ETP $1.0 billion 364-Day Credit Facility due November 2018 (2) 50 — ETLP $3.75 billion Revolving Credit Facility due November 2019 — 2,777 Legacy Sunoco Logistics $2.50 billion Revolving Credit Facility due March 2020 — 1,292 Legacy Sunoco Logistics $1.0 billion 364-Day Credit Facility due December 2017 — 630 Unamortized premiums, discounts and fair value adjustments, net 33 66 Deferred debt issuance costs (170 ) (166 ) 29,210 29,454 Transwestern Debt 5.64% Senior Notes due May 24, 2017 — 82 5.36% Senior Notes due December 9, 2020 175 175 5.89% Senior Notes due May 24, 2022 150 150 5.66% Senior Notes due December 9, 2024 175 175 6.16% Senior Notes due May 24, 2037 75 75 Deferred debt issuance costs (1 ) (1 ) 574 656 Panhandle Debt 6.20% Senior Notes due November 1, 2017 — 300 7.00% Senior Notes due June 15, 2018 400 400 8.125% Senior Notes due June 1, 2019 150 150 7.60% Senior Notes due February 1, 2024 82 82 7.00% Senior Notes due July 15, 2029 66 66 8.25% Senior Notes due November 14, 2029 33 33 Floating Rate Junior Subordinated Notes due November 1, 2066 54 54 Unamortized premiums, discounts and fair value adjustments, net 28 50 813 1,135 Sunoco, Inc. Debt 5.75% Senior Notes due January 15, 2017 — 400 Bakken Project Debt Bakken Project $2.50 billion Credit Facility due August 2019 2,500 1,100 Deferred debt issuance costs (8 ) (13 ) 2,492 1,087 PennTex Debt PennTex $275 million Revolving Credit Facility due December 2019 — 168 Sunoco LP Debt 5.50% Senior Notes due August 1, 2020 600 600 6.375% Senior Notes due April 1, 2023 800 800 6.25% Senior Notes due April 15, 2021 800 800 Sunoco LP $1.50 billion Revolving Credit Facility due September 25, 2019 765 1,000 Sunoco LP Term Loan due October 1, 2019 1,243 1,243 Lease-related obligations 113 118 Deferred debt issuance costs (34 ) (47 ) 4,287 4,514 Other 8 31 Total debt 44,084 43,802 Less: current maturities of long-term debt 413 1,194 Long-term debt, less current maturities $ 43,671 $ 42,608 (1) As of December 31, 2017 ETP’s management had the intent and ability to refinance the $650 million 2.50% senior notes due June 15, 2018 and the $600 million 6.70% senior notes due July 1, 2018, and therefore neither was classified as current. (2) Borrowings under 364-day credit facilities were classified as long-term debt based on the Partnership’s ability and intent to refinance such borrowings on a long-term basis. The following table reflects future maturities of long-term debt for each of the next five years and thereafter. These amounts exclude $197 million in unamortized premiums, fair value adjustments and deferred debt issuance costs, net: 2018 $ 1,705 2019 5,512 2020 3,667 2021 2,205 2022 6,540 Thereafter 24,652 Total $ 44,281 Long-term debt reflected on our consolidated balance sheets includes fair value adjustments related to interest rate swaps, which represent fair value adjustments that had been recorded in connection with fair value hedge accounting prior to the termination of the interest rate swap. Notes and Debentures ETE Senior Notes Offering In October 2017, ETE issued $1 billion aggregate principal amount of 4.25% senior notes due 2023. The $990 million net proceeds from the offering were used to repay a portion of the outstanding indebtedness under its term loan facility and for general partnership purposes. The senior notes were registered under the Securities Act of 1933 (as amended). The Partnership may redeem some or all of the senior notes at any time, or from time to time, pursuant to the terms of the indenture and related indenture supplements related to the senior notes. The balance is payable upon maturity. Interest on the senior notes is paid semi-annually. ETE Senior Notes The ETE Senior Notes are the Parent Company’s senior obligations, ranking equally in right of payment with our other existing and future unsubordinated debt and senior to any of its future subordinated debt. The Parent Company’s obligations under the ETE Senior Notes are secured on a first-priority basis with its obligations under the Revolver Credit Agreement and the ETE Term Loan Facility, by a lien on substantially all of the Parent Company’s and certain of its subsidiaries’ tangible and intangible assets, subject to certain exceptions and permitted liens. The ETE Senior Notes are not guaranteed by any of the Parent Company’s subsidiaries. The covenants related to the ETE Senior Notes include a limitation on liens, a limitation on transactions with affiliates, a restriction on sale-leaseback transactions and limitations on mergers and sales of all or substantially all of the Parent Company’s assets. As discussed above, the Parent Company’s outstanding senior notes are collateralized by its interests in certain of its subsidiaries. SEC Rule 3-16 of Regulation S-X (“Rule 3-16”) requires a registrant to file financial statements for each of its affiliates whose securities constitute a substantial portion of the collateral for registered securities. The Parent Company’s limited partner interests in ETP constitute substantial portions of the collateral for the Parent Company’s outstanding senior notes; accordingly, financial statements of ETP are required under Rule 3-16 to be included in the Partnership’s Annual Report on Form 10-K and have been included herein. The Parent Company’s interests in ETP GP also constitutes substantial portions of the collateral for the Parent Company’s outstanding senior notes. Accordingly, the financial statements of ETP GP would be required under Rule 3-16 to be included in the Parent Company’s Annual Report on Form 10-K. ETP GP does not have substantive operations of its own; rather, ETP GP only owns 100% of the general partner interest in ETP. ETP GP does not own limited partner interests in ETP; therefore, the limited partner interests in ETP, which had a carrying value of $28.02 billion and $ 18.41 billion as of December 31, 2017 and 2016, respectively, would be reflected as noncontrolling interests on ETP GP’s balance sheets. Likewise, ETP’s income (loss) attributable to limited partners (including common unitholders, Class H unitholders, Class I unitholders and ETP Preferred Units) of $1.08 billion , $(660) million and $325 million for the years ended December 31, 2017, 2016 and 2015, respectively, would be reflected as income attributable to noncontrolling interest in ETP GP’s statements of operations. ETP’s general partner interest is reflected separately in ETP’s financial statements. As a result, the financial statements of ETP GP would substantially duplicate information that is available in the financial statements of ETP. Therefore, the financial statements of ETP GP have been excluded from the Partnership’s Annual Report on Form 10-K. ETP Senior Notes The ETP senior notes were registered under the Securities Act of 1933 (as amended). ETP may redeem some or all of the ETP senior notes at any time, or from time to time, pursuant to the terms of the indenture and related indenture supplements related to the ETP senior notes. The balance is payable upon maturity. Interest on the ETP senior notes is paid semi-annually. The ETP senior notes are unsecured obligations of ETP and as a result, the ETP senior notes effectively rank junior to any future indebtedness of ours or our subsidiaries that is both secured and unsubordinated to the extent of the value of the assets securing such indebtedness, and the ETP senior notes effectively rank junior to all indebtedness and other liabilities of our existing and future subsidiaries. Transwestern Senior Notes The Transwestern senior notes are redeemable at any time in whole or pro rata in part, subject to a premium or upon a change of control event or an event of default, as defined. The balance is payable upon maturity. Interest is payable semi-annually. Panhandle Junior Subordinated Notes The interest rate on the remaining portion of Panhandle’s junior subordinated notes due 2066 is a variable rate based upon the three-month LIBOR rate plus 3.0175% . The balance of the variable rate portion of the junior subordinated notes was $54 million at an effective interest rate of 4.39% at December 31, 2017 . Sunoco LP Private Offering of Senior Notes On January 23, 2018, Sunoco LP completed a private offering of $2.2 billion of senior notes, comprised of $1.0 billion in aggregate principal amount of 4.875% senior notes due 2023, $800 million in aggregate principal amount of 5.500% senior notes due 2026 and $400 million in aggregate principal amount of 5.875% senior notes due 2028. Sunoco LP used the proceeds from the private offering, along with proceeds from the closing of the asset purchase agreement with 7-Eleven to: 1) redeem in full its existing senior notes as of December 31, 2017, comprised of $800 million in aggregate principal amount of 6.250% senior notes due 2021, $600 million in aggregate principal amount of 5.500% senior notes due 2020, and $800 million in aggregate principal amount of 6.375% senior notes due 2023; 2) repay in full and terminate the Sunoco LP Term Loan; 3) pay all closing costs and taxes in connection with the 7-Eleven transaction; 4) redeem the outstanding Sunoco LP Series A Preferred Units as mentioned above; and 5) repurchase 17,286,859 common units owned by ETP as mentioned above. Sunoco LP Senior Notes In April 2016, Sunoco LP issued $800 million aggregate principal amount of 6.25% Senior Notes due 2021. The net proceeds of $789 million were used to repay a portion of the borrowings under its term loan facility. The 6.25% Senior Notes due 2021 were redeemed on January 23, 2018. See Sunoco LP Private Offering of Senior Notes above. Term Loans, Credit Facilities and Commercial Paper ETE Term Loan Facility On February 2, 2017, the Partnership entered into a Senior Secured Term Loan Agreement (the “Term Credit Agreement”) with Credit Suisse AG, Cayman Islands Branch, as administrative agent, and the other lenders party thereto. The Term Credit Agreement has a scheduled maturity date of February 2, 2024, with an option for the Parent Company to extend the term subject to the terms and conditions set forth therein. The Term Credit Agreement contains an accordion feature, under which the total commitments may be increased, subject to the terms thereof. In connection with the Parent Company’s entry into the Senior Secured Term Loan Agreement on February 2, 2017, the Parent Company terminated its previous term loan agreements. Pursuant to the Term Credit Agreement, the Term Lenders have provided senior secured financing in an aggregate principal amount of $2.2 billion (the “Term Loan Facility”). The Parent Company is not required to make any amortization payments with respect to the term loans under the Term Credit Agreement. Under certain circumstances and subject to certain reinvestment rights, the Parent Company is required to prepay the term loan in connection with dispositions of (a) IDRs in (i) prior to the consummation of the Sunoco Logistics Merger, ETP , and (ii) upon and after the consummation of the Sunoco Logistics Merger, Sunoco Logistics ; or (b) equity interests of any person which owns, directly or indirectly, IDRs in (i) prior to the consummation of the Sunoco Logistics Merger, ETP, and (ii) upon and after the consummation of the Sunoco Logistics Merger, Sunoco Logistics, in each case, with a percentage ranging from 50% to 75% of such net proceeds in excess of $50 million. Under the Term Credit Agreement, the obligations of the Parent Company are secured by a lien on substantially all of the Parent Company’s and certain of its subsidiaries’ tangible and intangible assets including (i) approximately 27.5 million common units representing limited partner interests in ETP owned by the Partnership; and (ii) the Partnership’s 100% equity interest in Energy Transfer Partners, L.L.C. and Energy Transfer Partners GP, L.P., through which the Partnership indirectly holds all of the outstanding general partnership interests and IDRs in ETP. The Term Loan Facility initially is not guaranteed by any of the Partnership’s subsidiaries . Interest accrues on advances at a LIBOR rate or a base rate, based on the election of the Parent Company for each interest period, plus an applicable margin. The applicable margin for LIBOR rate loans is 2.75% and the applicable margin for base rate loans is 1.75% . Proceeds of the borrowings under the Term Credit Agreement were used to refinance amounts outstanding under the Parent Company’s existing term loan facilities and to pay transaction fees and expenses related to the Term Loan Facility and other transactions incidental thereto. On October 18, 2017, ETE amended its existing Term Credit Agreement (the “Amendment”) to reduce the applicable margin for LIBOR rate loans from 2.75% to 2.00% and for base rate loans from 1.75% to 1.00% . In connection with the Amendment, the Partnership prepaid a portion of amounts outstanding under the senior secure d term loan agreement. ETE Revolving Credit Facility The Parent Company had a revolver credit agreement which had a scheduled maturity date of December 2, 2018, with an option for the Parent Company to extend the term subject to the terms and conditions set forth therein. The agreement was terminated in connection with entry into the Revolver Credit Agreement, discussed below. On March 24, 2017, the Parent Company entered into a Credit Agreement (the “Revolver Credit Agreement”) with Credit Suisse AG, Cayman Islands Branch as administrative agent and the other lenders party thereto (the “Revolver Lenders”). The Revolver Credit Agreement has a scheduled maturity date of March 24, 2022 and includes an option for the Parent Company to extend the term, in each case subject to the terms and conditions set forth therein. Pursuant to the Revolver Credit Agreement, the lenders have committed to provide advances up to an aggregate principal amount of $1.50 billion at any one time outstanding, and the Parent Company has the option to request increases in the aggregate commitments by up to $500 million in additional commitments. As part of the aggregate commitments under the facility, the Revolver Credit Agreement provides for letters of credit to be issued at the request of the Parent Company in an aggregate amount not to exceed a $150 million sublimit. Under the Revolver Credit Agreement, the obligations of the Partnership are secured by a lien on substantially all of the Partnership’s and certain of its subsidiaries’ tangible and intangible assets. Interest accrues on advances at a LIBOR rate or a base rate, based on the election of the Parent Company for each interest period, plus an applicable margin. The issuing fees for all letters of credit are also based on an applicable margin. The applicable margin used in connection with interest rates and fees is based on the then applicable leverage ratio of the Parent Company. The applicable margin for LIBOR rate loans and letter of credit fees ranges from 1.75% to 2.50% and the applicable margin for base rate loans ranges from 0.75% to 1.50% . The Parent Company will also pay a commitment fee based on its leverage ratio on the actual daily unused amount of the aggregate commitments. As of December 31, 2017 , there were $1.19 billion outstanding borrowings under the Parent Company revolver credit facility and the amount available for future borrowings was $312 million . ETP Credit Facilities On December 1, 2017 ETP entered into a five-year, $4.0 billion unsecured revolving credit facility, which matures December 1, 2022 (the “ETP Five-Year Facility”) and a $1.0 billion 364-day revolving credit facility that matures on November 30, 2018 (the “ETP 364-Day Facility”) (collectively, the “ETP Credit Facilities”). The ETP Five-Year Facility contains an accordion feature, under which the total aggregate commitments may be increased up to $6.0 billion under certain conditions. ETP uses the ETP Credit Facilities to provide temporary financing for its growth projects, as well as for general partnership purposes. As of December 31, 2017 , the ETP Five-Year Facility had $2.29 billion outstanding, of which $2.01 billion was commercial paper. The amount available for future borrowings was $1.56 billion after taking into account letters of credit of $150 million . The weighted average interest rate on the total amount outstanding as of December 31, 2017 was 2.48% . As of December 31, 2017 , the ETP 364-Day Facility had $50 million outstanding, and the amount available for future borrowings was $950 million . The weighted average interest rate on the total amount outstanding as of December 31, 2017 was 5.00% . ETLP Credit Facility The ETLP Credit Facility allowed for borrowings of up to $3.75 billion and was used to provide temporary financing for our growth projects, as well as for general partnership purposes. This facility was repaid and terminated concurrent with the establishment of the ETP Credit Facilities on December 1, 2017. Sunoco Logistics Credit Facilities ETP maintained a $2.50 billion unsecured revolving credit agreement (the “Sunoco Logistics Credit Facility”). This facility was repaid and terminated concurrent with the establishment of the ETP Credit Facilities on December 1, 2017. In December 2016, Sunoco Logistics entered into an agreement for a 364-day maturity credit facility (“364-Day Credit Facility”), due to mature on the earlier of the occurrence of the Sunoco Logistics Merger or in December 2017, with a total lending capacity of $1.00 billion . In connection with the Sunoco Logistics Merger, the 364-Day Credit Facility was terminated and repaid in May 2017. Bakken Credit Facility In August 2016, Energy Transfer Partners, L.P., Sunoco Logistics and Phillips 66 completed project-level financing of the Bakken Pipeline. The $2.50 billion credit facility is anticipated to provide substantially all of the remaining capital necessary to complete the projects and matures in August 2019 (the “Bakken Credit Facility”). As of December 31, 2017 , the Bakken Credit Facility had $2.50 billion of outstanding borrowings. The weighted average interest rate on the total amount outstanding as of December 31, 2017 was 3.00% . PennTex Revolving Credit Facility PennTex previously maintained a $275 million revolving credit commitment (the “PennTex Revolving Credit Facility”). In August 2017, the PennTex Revolving Credit Facility was repaid and terminated. Sunoco LP Term Loan Sunoco LP has a term loan agreement which provides secured financing in an aggregate principal amount of up to $2.035 billion due 2019. In January 2017, Sunoco LP entered into a limited waiver to its term loan, under which the agents and lenders party thereto waived and deemed remedied the miscalculations of Sunoco LP’s leverage ratio as set forth in its previously delivered compliance certificates and the resulting failure to pay incremental interest owed under the term loan. As of December 31, 2017 , the balance on the term loan was $1.24 billion . The Sunoco LP term loan was repaid in full and terminated on January 23, 2018. See Sunoco LP Private Offering of Senior Notes above. Sunoco LP Credit Facility Sunoco LP maintains a $1.50 billion revolving credit agreement, which was amended in April 2015 from the initially committed amount of $1.25 billion and matures in September 2019. In January 2017, Sunoco LP entered into a limited waiver to its revolving credit facility, under which the agents and lenders party thereto waived and deemed remedied the miscalculations of Sunoco LP’s leverage ratio as set forth in its previously delivered compliance certificates and the resulting failure to pay incremental interest owed under the revolving credit facility. As of December 31, 2017 , the Sunoco LP credit facility had $9 million in standby letters of credit. The amount available for future borrowings on the revolver at December 31, 2017 was $726 million . On October 16, 2017, Sunoco LP entered into the Fifth Amendment to the Credit Agreement with the lenders party thereto and Bank of America, N.A., in its capacity as a letter of credit issuer, as swing line lender, and as administrative agent. The Fifth Amendment amended the agreement to (i) permit the dispositions contemplated by the Retail Divestment, (ii) extend the interest coverage ratio covenant of 2.25 x through maturity, (iii) modify the definition of consolidated EBITDA to include the pro forma effect of the divestitures and the new fuel supply contracts, and (iv) modify the leverage ratio covenant. Covenants Related to Our Credit Agreements Covenants Related to the Parent Company The Term Loan Facility and ETE Revolving Credit Facility contain customary representations, warranties, covenants and events of default, including a change of control event of default and limitations on incurrence of liens, new lines of business, merger, transactions with affiliates and restrictive agreements. The Term Loan Facility and ETE Revolving Credit Facility contain financial covenants as follows: • Maximum Leverage Ratio – Consolidated Funded Debt (as defined therein) of the Parent Company to Consolidated EBITDA (as defined therein) of the Parent Company of not more than 6.0 to 1 , with a permitted increase to 7 to 1 during a specified acquisition period following the close of a specified acquisition; and • Consolidated EBITDA (as defined therein) to interest expense of not less than 1.5 to 1 . Covenants Related to ETP The agreements relating to the ETP senior notes contain restrictive covenants customary for an issuer with an investment-grade rating from the rating agencies, which covenants include limitations on liens and a restriction on sale-leaseback transactions. The ETP Credit Facilities contains covenants that limit (subject to certain exceptions) the Partnership’s and certain of the Partnership’s subsidiaries’ ability to, among other things: • incur indebtedness; • grant liens; • enter into mergers; • dispose of assets; • make certain investments; • make Distributions (as defined in the ETP Credit Facilities) during certain Defaults (as defined in the ETP Credit Facilities) and during any Event of Default (as defined in the ETP Credit Facilities); • engage in business substantially different in nature than the business currently conducted by the Partnership and its subsidiaries; • engage in transactions with affiliates; and • enter into restrictive agreements. The ETP Credit Facilities applicable margin and rate used in connection with the interest rates and commitment fees, respectively, are based on the credit ratings assigned to our senior, unsecured, non-credit enhanced long-term debt. The applicable margin for eurodollar rate loans under the ETP Five-Year Facility ranges from 1.125% to 2.000% and the applicable margin for base rate loans ranges from 0.125% to 1.000% . The applicable rate for commitment fees under the ETP Five-Year Facility ranges from 0.125% to 0.300% . The applicable margin for eurodollar rate loans under the ETP 364-Day Facility ranges from 1.125% to 1.750% and the applicable margin for base rate loans ranges from 0.250% to 0.750% . The applicable rate for commitment fees under the ETP 364-Day Facility ranges from 0.125% to 0.225% . The ETP Credit Facilities contain various covenants including limitations on the creation of indebtedness and liens, and related to the operation and conduct of our business. The ETP Credit Facilities also limit us, on a rolling four quarter basis, to a maximum Consolidated Funded Indebtedness to Consolidated EBITDA ratio, as defined in the underlying credit agreements, of 5.0 to 1 , which can generally be increased to 5.5 to 1 during a Specified Acquisition Period. Our Leverage Ratio was 3.96 to 1 at December 31, 2017 , as calculated in accordance with the credit agreements. The agreements relating to the Transwestern senior notes contain certain restrictions that, among other things, limit the incurrence of additional debt, the sale of assets and the payment of dividends and specify a maximum debt to capitalization ratio. Failure to comply with the various restrictive and affirmative covenants of our revolving credit facilities could require us to pay debt balances prior to scheduled maturity and could negatively impact the Operating Companies’ ability to incur additional debt and/or our ability to pay distributions. Covenants Related to Panhandle Panhandle is not party to any lending agreement that would accelerate the maturity date of any obligation due to a failure to maintain any specific credit rating, nor would a reduction in any credit rating, by itself, cause an event of default under any of Panhandle’s lending agreements. Financial covenants exist in certain of Panhandle’s debt agreements that require Panhandle to maintain a certain level of net worth, to meet certain debt to total capitalization ratios and to meet certain ratios of earnings before depreciation, interest and taxes to cash interest expense. A failure by Panhandle to satisfy any such covenant would give rise to an event of default under the associated debt, which could become immediately due and payable if Panhandle did not cure such default within any permitted cure period or if Panhandle did not obtain amendments, consents or waivers from its lenders with respect to such covenants. Panhandle’s restrictive covenants include restrictions on debt levels, restrictions on liens securing debt and guarantees, restrictions on mergers and on the sales of assets, capitalization requirements, dividend restrictions, cross default and cross-acceleration and prepayment of debt provisions. A breach of any of these covenants could result in acceleration of Panhandle’s debt and other financial obligations and that of its subsidiaries. In addition, Panhandle and/or its subsidiaries are subject to certain additional restrictions and covenants. These restrictions and covenants include limitations on additional debt at some of its subsidiaries; limitations on the use of proceeds from borrowing at some of its subsidiaries; limitations, in some cases, on transactions with its affiliates; limitations on the incurrence of liens; potential limitations on the abilities of some of its subsidiaries to declare and pay dividends and potential limitations on some of its subsidiaries to participate in Panhandle’s cash management program; and limitations on Panhandle’s ability to prepay debt. Covenants Related to Bakken Credit Facility The Bakken Credit Facility contains standard and customary covenants for a financing of this type, subject to materiality, knowledge and other qualifications, thresholds, reasonableness and other exceptions. These standard and customary covenants include, but are not limited to: • prohibition of certain incremental secured indebtedness; • prohibition of certain liens / negative pledge; • limitations on uses of loan proceeds; • limitations on asset sales and purchases; • limitations on permitted business activities; • limitations on mergers and acquisitions; • limitations on investments; • limitations on transactions with affiliates; and • maintenance of commercially reasonable insurance coverage. A restricted payment covenant is also included in the Bakken Credit Facility which requires a minimum historic debt service coverage ratio (“DSCR”) of not less than 1.20 to 1 (the “Minimum Historic DSCR”) with respect each 12-month period following the commercial in-service date of the Dakota Access and ETCO Project in order to make certain restricted payments thereunder. Covenants Related to Sunoco LP The Sunoco LP Credit Facilities contain various customary representations, warranties, covenants and events of default, including a change of control event of default, as defined therein. The Sunoco LP Credit Facilities require Sunoco LP to maintain a leverage ratio (as defined therein) of not more than (a) as of the last day of each fiscal quarter through December 31, 2017, 6.75 to 1.0, (b) as of March 31, 2018, 6.5 to 1.0, (c) as of June 30, 2018, 6.25 to 1.0, (d) as of September 30, 2018, 6.0 to 1.0, (e) as of December 31, 2018, 5.75 to 1.0 and (f) thereafter, 5.5 to 1.0 (in the case of the quarter ending March 31, 2019 and thereafter, subject to increases to 6.0 to 1.0 in connection with certain specified acquisitions in excess of $50 million, as permitted under the Credit Facilities. Indebtedness under the Credit Facilities is secured by a security interest in, among other things, all of Sunoco LP’s present and future personal property and all of the present and future personal property of its guarantors, the capital stock of its material subsidiaries (or 66% of the capital stock of material foreign subsidiaries), and any intercompany debt. Upon the first achievement by Sunoco LP of an investment grade credit rating, all security interests securing borrowings under the Credit Facilities will be released. Compliance With Our Covenants Failure to comply with the various restrictive and affirmative covenants of our revolving credit facilities and note agreements could require us or our subsidiaries to pay debt balances prior to scheduled maturity and could negatively impact the subsidiaries ability to incur additional debt and/or our ability to pay distributions. We and our subsidiaries are required to assess compliance quarterly and were in compliance with all requirements, tests, limitations, and covenants related to our debt agreements as of December 31, 2017 . |
Redeemable Preferred Units
Redeemable Preferred Units | 12 Months Ended |
Dec. 31, 2017 | |
Preferred Units, Preferred Partners' Capital Account [Abstract] | |
Redeemable Preferred Units | ETP CONVERTIBLE PREFERRED UNITS: The ETP Convertible Preferred Units were mandatorily redeemable on September 2, 2029 for $35 million plus all accrued but unpaid distributions and interest thereon and are reflected as long-term liabilities in our consolidated balance sheets. The ETP Convertible Preferred Units are entitled to a preferential quarterly cash distribution of $0.445 per ETP Preferred Unit if outstanding on the record dates of ETP’s common unit distributions. In January 2017, ETP repurchased all of its 1.9 million outstanding ETP Convertible Preferred Units for cash in the aggregate amount of $53 million . |
Equity
Equity | 12 Months Ended |
Dec. 31, 2017 | |
Partners' Capital Notes [Abstract] | |
Equity | EQUITY: Limited Partner Units Limited partner interests in the Partnership are represented by Common Units that entitle the holders thereof to the rights and privileges specified in the Partnership Agreement. The Partnership’s Common Units are registered under the Securities Exchange Act of 1934 (as amended) and are listed for trading on the NYSE. Each holder of a Common Unit is entitled to one vote per unit on all matters presented to the Limited Partners for a vote. In addition, if at any time any person or group (other than the Partnership’s General Partner and its affiliates) owns beneficially 20% or more of all Common Units, any Common Units owned by that person or group may not be voted on any matter and are not considered to be outstanding when sending notices of a meeting of Unitholders (unless otherwise required by law), calculating required votes, determining the presence of a quorum or for other similar purposes under the Partnership Agreement. The Common Units are entitled to distributions of Available Cash as described below under “Parent Company Quarterly Distributions of Available Cash.” As of December 31, 2017 , there were issued and outstanding 1.08 billion Common Units representing an aggregate 94.38% limited partner interest in the Partnership. Our Partnership Agreement contains specific provisions for the allocation of net earnings and losses to the partners for purposes of maintaining the partner capital accounts. For any fiscal year that the Partnership has net profits, such net profits are first allocated to the General Partner until the aggregate amount of net profits for the current and all prior fiscal years equals the aggregate amount of net losses allocated to the General Partner for the current and all prior fiscal years. Second, such net profits shall be allocated to the Limited Partners pro rata in accordance with their respective sharing ratios. For any fiscal year in which the Partnership has net losses, such net losses shall be first allocated to the Limited Partners in proportion to their respective adjusted capital account balances, as defined by the Partnership Agreement, (before taking into account such net losses) until their adjusted capital account balances have been reduced to zero. Second, all remaining net losses shall be allocated to the General Partner. The General Partner may distribute to the Limited Partners funds of the Partnership that the General Partner reasonably determines are not needed for the payment of existing or foreseeable Partnership obligations and expenditures. Common Units The change in ETE Common Units during the years ended December 31, 2017 , 2016 and 2015 was as follows: Years Ended December 31, 2017 2016 2015 Number of Common Units, beginning of period 1,046.9 1,044.8 1,077.5 Conversion of Class D Units to ETE Common Units — — 0.9 Repurchase of common units under buyback program — — (33.6 ) Issuance of common units 32.2 2.1 — Number of Common Units, end of period 1,079.1 1,046.9 1,044.8 ETE Equity Distribution Agreement In March 2017, the Partnership entered into an equity distribution agreement with an aggregate offering price up to $1 billion. There was no activity under the distribution agreements for the year ended December 31, 2017 . ETE Series A Convertible Preferred Units Years Ended December 31, 2017 2016 2015 Number of Series A Convertible Preferred Units, beginning of period 329.3 — — Issuance of Series A Convertible Preferred Units — 329.3 — Number of Series A Convertible Preferred Units, end of period 329.3 329.3 — On March 8, 2016, the Partnership completed a private offering of 329.3 million Series A Convertible Preferred Units representing limited partner interests in the Partnership (the “Convertible Units”) to certain common unitholders (“Electing Unitholders”) who elected to participate in a plan to forgo a portion of their future potential cash distributions on common units participating in the plan for a period of up to nine fiscal quarters, commencing with distributions for the fiscal quarter ended March 31, 2016, and reinvest those distributions in the Convertible Units. With respect to each quarter for which the declaration date and record date occurs prior to the closing of the merger, or earlier termination of the merger agreement (the “WMB End Date”), each participating common unit will receive the same cash distribution as all other ETE common units up to $0.11 per unit, which represents approximately 40% of the per unit distribution paid with respect to ETE common units for the quarter ended December 31, 2015 (the “Preferred Distribution Amount”), and the holder of such participating common unit will forgo all cash distributions in excess of that amount (other than (i) any non-cash distribution or (ii) any cash distribution that is materially and substantially greater, on a per unit basis, than ETE’s most recent regular quarterly distribution, as determined by the ETE general partner (such distributions in clauses (i) and (ii), “Extraordinary Distributions”)). With respect to each quarter for which the declaration date and record date occurs after the WMB End Date, each participating common unit will forgo all distributions for each such quarter (other than Extraordinary Distributions), and each Convertible Unit will receive the Preferred Distribution Amount payable in cash prior to any distribution on ETE common units (other than Extraordinary Distributions). At the end of the plan period, which is expected to be May 18, 2018, the Convertible Units are expected to automatically convert into common units based on the Conversion Value (as defined and described below) of the Convertible Units and a conversion rate of $6.56 . The conversion value of each Convertible Unit (the “Conversion Value”) on the closing date of the offering is zero. The Conversion Value will increase each quarter in an amount equal to $0.285 , which is the per unit amount of the cash distribution paid with respect to ETE common units for the quarter ended December 31, 2015 (the “Conversion Value Cap”), less the cash distribution actually paid with respect to each Convertible Unit for such quarter (or, if prior to the WMB End Date, each participating common unit). Any cash distributions in excess of $0.285 per ETE common unit, and any Extraordinary Distributions, made with respect to any quarter during the plan period will be disregarded for purposes of calculating the Conversion Value. The Conversion Value will be reflected in the carrying amount of the Convertible Units until the conversion into common units at the end of the plan period. The Convertible Units had $450 million carrying value as of December 31, 2017. ETE issued 329,295,770 Convertible Units to the Electing Unitholders at the closing of the offering, which represents the participation by common unitholders with respect to approximately 31.5% of ETE’s total outstanding common units. ETE’s Chairman, Kelcy L. Warren, participated in the Plan with respect to substantially all of his common units, which represent approximately 18% of ETE’s total outstanding common units, and was issued 187,313,942 Convertible Units. In addition, John McReynolds, a director of our general partner and President of our general partner; and Matthew S. Ramsey, a director of our general partner and the general partner of ETP and Sunoco LP and President of the general partner of ETP, participated in the Plan with respect to substantially all of their common units, and Marshall S. McCrea, III, a director of our general partner and the general partner of ETP and Sunoco Logistics and the Group Chief Operating Officer and Chief Commercial Officer of our general partner, participated in the Plan with respect to a substantial portion of his common units. The common units for which Messrs. McReynolds, Ramsey and McCrea elected to participate in the Plan collectively represent approximately 2.2% of ETE’s total outstanding common units. ETE issued 21,382,155 Convertible Units to Mr. McReynolds, 51,317 Convertible Units to Mr. Ramsey and 1,112,728 Convertible Units to Mr. McCrea. Mr. Ray Davis, who owns an 18.8% membership interest in our general partner, participated in the Plan with respect to substantially all of his ETE common units, which represents approximately 6.9% of ETE’s total outstanding common units, and was issued 72,042,486 Convertible Units. Other than Mr. Davis, no other Electing Unitholder owns a material amount of equity securities of ETE or its affiliates. ETE January 2017 Private Placement and ETP Unit Purchase In January 2017, ETE issued 32.2 million common units representing limited partner interests in the Partnership to certain institutional investors in a private transaction for gross proceeds of approximately $580 million , which ETE used to purchase 23.7 million newly issued ETP common units for approximately $568 million . Common Unit Split On July 27, 2015, ETE completed a two-for-one split of the Partnership’s outstanding common units by a distribution of one ETE common unit for each common unit outstanding and held by unitholders of record at the close of business on July 15, 2015. Repurchase Program In February 2015, the Partnership announced a common unit repurchase program, whereby the Partnership may repurchase up to an additional $2 billion of ETE Common Units in the open market at the Partnership’s discretion, subject to market conditions and other factors, and in accordance with applicable regulatory requirements. The Partnership repurchased 33.6 million ETE Common Units under this program in 2015 . No units were repurchased under this program in 2017 or 2016 , and there was $936 million available to use under the program as of December 31, 2017 . Class D Units In 2013, the Partnership issued 3,080,000 Class D Units of ETE pursuant to an agreement with a former executive. The Class D Units were convertible to ETE Common Units, subject to certain vesting requirements which were not met prior to the former executive’s termination in 2016. Sale of Common Units by Subsidiaries The Parent Company accounts for the difference between the carrying amount of its investment in subsidiaries and the underlying book value arising from issuance of units by subsidiaries (excluding unit issuances to the Parent Company) as a capital transaction. If a subsidiary issues units at a price less than the Parent Company’s carrying value per unit, the Parent Company assesses whether the investment has been impaired, in which case a provision would be reflected in our statement of operations. The Parent Company did not recognize any impairment related to the issuances of subsidiary common units during the periods presented. Sale of Common Units by ETP ETP’s Equity Distribution Program From time to time, ETP has sold ETP Common Units through an equity distribution agreement. Such sales of ETP Common Units are made by means of ordinary brokers’ transactions on the NYSE at market prices, in block transactions or as otherwise agreed between us and the sales agent which is the counterparty to the equity distribution agreement. In connection with the Sunoco Logistics Merger, the previous Energy Transfer Partners, L.P. equity distribution agreement was terminated. In May 2017, ETP entered into an equity distribution agreement with an aggregate offering price up to $1.00 billion . During the year ended December 31, 2017 , ETP issued 22.6 million units for $503 million , net of commissions of $5 million . As of December 31, 2017 , $752 million of ETP’s Common Units remained available to be issued under ETP’s currently effective equity distribution agreement. ETP’s Equity Incentive Plan Activity ETP issues ETP Common Units to employees and directors upon vesting of awards granted under ETP’s equity incentive plans. Upon vesting, participants in the equity incentive plans may elect to have a portion of the ETP Common Units to which they are entitled withheld by ETP to satisfy tax-withholding obligations. ETP’s Distribution Reinvestment Program ETP’s Distribution Reinvestment Plan (the “DRIP”) provides ETP’s Unitholders of record and beneficial owners of ETP Common Units a voluntary means by which they can increase the number of ETP Common Units they own by reinvesting the quarterly cash distributions they would otherwise receive in the purchase of additional ETP Common Units. In connection with the Sunoco Logistics Merger, the previous Energy Transfer Partners, L.P. distribution reinvestment plan was terminated. In July 2017, ETP initiated a new distribution reinvestment plan. During the years ended December 31, 2017 , 2016 and 2015 , aggregate distributions of $228 million , $216 million , and $360 million , respectively, were reinvested under the DRIP resulting in the issuance in aggregate of 25.5 million Common Units. As of December 31, 2017 , a total of 20.8 million Common Units remain available to be issued under the existing registration statement. August 2017 Units Offering In August 2017, ETP issued 54 million ETP common units in an underwritten public offering. Net proceeds of $997 million from the offering were used by ETP to repay amounts outstanding under its revolving credit facilities, to fund capital expenditures and for general partnership purposes. ETP Class E Units There are currently 8.9 million ETP Class E Units outstanding, all of which are currently owned by HHI. The ETP Class E Units generally do not have any voting rights. The ETP Class E Units are entitled to aggregate cash distributions equal to 11.1% of the total amount of cash distributed to all ETP Unitholders, including the Class E Unitholders, up to $1.41 per unit per year. As the Class E Units are owned by a wholly-owned subsidiary, the cash distributions on those units are eliminated in ETP’s consolidated financial statements. Although no plans are currently in place, management may evaluate whether to retire the ETP Class E Units at a future date. ETP Class G Units There are currently 90.7 million ETP Class G Units outstanding, all of which are held by wholly-owned subsidiaries of ETP. The ETP Class G Units generally do not have any voting rights. The ETP Class G Units are entitled to aggregate cash distributions equal to 35% of the total amount of cash generated by ETP and its subsidiaries, other than ETP Holdco, and available for distribution, up to a maximum of $3.75 per ETP Class G Unit per year. Allocations of depreciation and amortization to the ETP Class G Units for tax purposes are based on a predetermined percentage and are not contingent on whether ETP has net income or loss. These units are reflected as treasury units in the consolidated financial statements. ETP Class H Units Pursuant to an Exchange and Redemption Agreement previously entered into between ETP, ETE and ETE Holdings, ETP redeemed and cancelled 50.2 million of its Common Units representing limited partner interests (the “Redeemed Units”) owned by ETE Holdings on October 31, 2013 in exchange for the issuance by ETP to ETE Holdings of a new class of limited partner interest in ETP (the “Class H Units”), which were generally entitled to (i) allocations of profits, losses and other items from ETP corresponding to 90.05% of the profits, losses, and other items allocated to ETP by Sunoco Partners with respect to the IDRs and general partner interest in Sunoco Logistics held by Sunoco Partners and (ii) distributions from available cash at ETP for each quarter equal to 90.05% of the cash distributed to ETP by Sunoco Partners with respect to the IDRs and general partner interest in Sunoco Logistics held by Sunoco Partners for such quarter and, to the extent not previously distributed to holders of the Class H Units, for any previous quarters. The Class H units were cancelled in connection with the merger of ETP and Sunoco Logistics in April 2017. ETP Class I Units In connection with the Bakken Pipeline Transaction discussed in Note 3, in March 2015, ETP issued 100 ETP Class I Units. The ETP Class I Units are generally entitled to: (i) pro rata allocations of gross income or gain until the aggregate amount of such items allocated to the holders of the ETP Class I Units for the current taxable period and all previous taxable periods is equal to the cumulative amount of all distributions made to the holders of the ETP Class I Units and (ii) after making cash distributions to ETP Class H Units, any additional available cash deemed to be either operating surplus or capital surplus with respect to any quarter will be distributed to the Class I Units in an amount equal to the excess of the distribution amount set forth in ETP’s Partnership Agreement, as amended, (the “Partnership Agreement”) for such quarter over the cumulative amount of available cash previously distributed commencing with the quarter ended March 31, 2015 until the quarter ending December 31, 2016. The impact of (i) the IDR subsidy adjustments and (ii) the ETP Class I Unit distributions, along with the currently effective IDR subsidies, is included in the table below under “Quarterly Distributions of Available Cash.” Subsequent to the April 2017 merger of ETP and Sunoco Logistics, 100 Class I Units remain outstanding. Bakken Equity Sale In February 2017, Bakken Holdings Company LLC, an entity in which ETP indirectly owns a 100% membership interest, sold a 49% interest in its wholly-owned subsidiary, Bakken Pipeline Investments LLC, to MarEn Bakken Company LLC, an entity jointly owned by MPLX LP and Enbridge Energy Partners, L.P., for $2.00 billion in cash. Bakken Pipeline Investments LLC indirectly owns a 75% interest in each of Dakota Access and ETCO. The remaining 25% of each of Dakota Access and ETCO is owned by wholly-owned subsidiaries of Phillips 66. ETP continues to consolidate Dakota Access and ETCO subsequent to this transaction. Class K Units On December 29, 2016, ETP issued to certain of its indirect subsidiaries, in exchange for cash contributions and the exchange of outstanding common units representing limited partner interests in ETP, Class K Units, each of which is entitled to a quarterly cash distribution of $0.67275 per Class K Unit prior to ETP making distributions of available cash to any class of units, excluding any cash available distributions or dividends or capital stock sales proceeds received by ETP from ETP Holdco. If ETP is unable to pay the Class K Unit quarterly distribution with respect to any quarter, the accrued and unpaid distributions will accumulate until paid and any accumulated balance will accrue 1.5% per annum until paid. As of December 31, 2017 , a total of 101.5 million Class K Units were held by wholly-owned subsidiaries of ETP. Sales of Common Units by Sunoco Logistics Prior to the Sunoco Logistics Merger, we accounted for the difference between the carrying amount of our investment in Sunoco Logistics and the underlying book value arising from the issuance or redemption of units by the respective subsidiary (excluding transactions with us) as capital transactions. In September and October 2016, a total of 24.2 million common units were issued for net proceeds of $644 million in connection with a public offering and related option exercise. The proceeds from this offering were used to partially fund the acquisition from Vitol. In March and April 2015, a total of 15.5 million common units were issued in connection with a public offering and related option exercise. Net proceeds of $629 million were used to repay outstanding borrowings under Sunoco Logistics’ $2.50 billion Credit Facility and for general partnership purposes. In 2014, Sunoco Logistics entered into equity distribution agreements pursuant to which Sunoco Logistics may sell from time to time common units having aggregate offering prices of up to $1.25 billion . In connection with the Sunoco Logistics Merger, the previous Sunoco Logistics equity distribution agreement was terminated. ETP Series A and Series Preferred Units In November 2017, ETP issued 950,000 of its 6.250% Series A Preferred Units at a price of $1,000 per unit, and 550,000 of its 6.625% Series B Preferred Units at a price of $1,000 per unit. Distributions on the ETP Series A Preferred Units will accrue and be cumulative from and including the date of original issue to, but excluding, February 15, 2023, at a rate of 6.250% per annum of the stated liquidation preference of $1,000 . On and after February 15, 2023, distributions on the ETP Series A Preferred Units will accumulate at a percentage of the $1,000 liquidation preference equal to an annual floating rate of the three-month LIBOR, determined quarterly, plus a spread of 4.028% per annum. The ETP Series A Preferred Units are redeemable at ETP’s option on or after February 15, 2023 at a redemption price of $1,000 per ETP Series A Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. Distributions on the ETP Series B Preferred Units will accrue and be cumulative from and including the date of original issue to, but excluding, February 15, 2028, at a rate of 6.625% per annum of the stated liquidation preference of $1,000 . On and after February 15, 2028, distributions on the ETP Series B Preferred Units will accumulate at a percentage of the $1,000 liquidation preference equal to an annual floating rate of the three-month LIBOR, determined quarterly, plus a spread of 4.155% per annum. The ETP Series B Preferred Units are redeemable at ETP’s option on or after February 15, 2028 at a redemption price of $1,000 per ETP Series B Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. PennTex Tender Offer and Limited Call Right Exercise In June 2017, ETP purchased all of the outstanding PennTex common units not previously owned by ETP for $20.00 per common unit in cash. ETP now owns all of the economic interests of PennTex, and PennTex common units are no longer publicly traded or listed on the NASDAQ. Sales of Common Units by Sunoco LP In February 2018, after the record date for Sunoco LP’s fourth quarter 2017 cash distributions, Sunoco LP repurchased 17,286,859 Sunoco LP common units owned by ETP for aggregate cash consideration of approximately $540 million . ETP used the proceeds from the sale of the Sunoco LP common units to repay amounts outstanding under its revolving credit facility. In October 2016, Sunoco LP entered into an equity distribution agreement pursuant to which Sunoco LP may sell from time to time common units having aggregate offering prices of up to $400 million . Through December 31, 2016, Sunoco LP received net proceeds of $71 million from the issuance of 2.8 million Sunoco LP common units pursuant to such equity distribution agreement. Sunoco LP intends to use the proceeds from any sales for general partnership purposes. From January 1, 2017 through December 31, 2017, Sunoco LP issued additional 1.3 million units with total net proceeds of $33 million , net of commissions of $0.3 million . As of December 31, 2017 , $295 million of Sunoco LP common units remained available to be issued under the currently effective equity distribution agreement. In March 2016, ETP contributed to Sunoco LP its remaining 68.42% interest in Sunoco, LLC and 100% interest in the legacy Sunoco, Inc. retail business for $2.23 billion . Sunoco LP paid $2.20 billion in cash, including a working capital adjustment, and issued 5.7 million Sunoco LP common units to Retail Holdings, a wholly-owned subsidiary of ETP. On March 31, 2016, Sunoco LP sold 2.3 million of Sunoco LP’s common units in a private placement to the Partnership. In January 2016, Sunoco LP issued 16.4 million Class C units representing limited partner interest consisting of (i) 5.2 million Class C Units issued by Sunoco LP to Aloha Petroleum, Ltd as consideration for the contribution by Aloha to an indirect wholly-owned subsidiary, and (ii) 11.2 million Class C Units that were issued by Sunoco LP to its indirect wholly-owned subsidiaries in exchange for all of the outstanding Class A Units held by such subsidiaries. In July 2015, Sunoco LP completed an offering of 5.5 million Sunoco LP common units for net proceeds of $213 million . The net proceeds from the offering were used to repay outstanding balances under the Sunoco LP revolving credit facility. Sunoco LP Series A Preferred Units On March 30, 2017, the Partnership purchased 12.0 million Sunoco LP Series A Preferred Units representing limited partner interests in Sunoco LP in a private placement transaction for an aggregate purchase price of $300 million . The distribution rate of Sunoco LP Series A Preferred Units is 10.00% , per annum, of the $25.00 liquidation preference per unit until March 30, 2022, at which point the distribution rate will become a floating rate of 8.00% plus three-month LIBOR of the liquidation preference. In January 2018, Sunoco LP redeemed all outstanding Sunoco LP Series A Preferred Units held by ETE for an aggregate redemption amount of approximately $313 million . The redemption amount included the original consideration of $300 million and a 1% call premium plus accrued and unpaid quarterly distributions. Contributions to Subsidiaries The Parent Company indirectly owns the entire general partner interest in ETP through its ownership of ETP GP, the general partner of ETP. ETP GP has the right, but not the obligation, to contribute a proportionate amount of capital to ETP to maintain its current general partner interest. ETP GP’s interest in ETP’s distributions is reduced if ETP issues additional units and ETP GP does not contribute a proportionate amount of capital to ETP to maintain its General Partner interest. Parent Company Quarterly Distributions of Available Cash Our distribution policy is consistent with the terms of our Partnership Agreement, which requires that we distribute all of our available cash quarterly. The Parent Company’s only cash-generating assets currently consist of distributions from ETP and Sunoco LP related to limited and general partner interests, including IDRs, as well as cash generated from our investment in Lake Charles LNG. Our distributions declared and paid with respect to our common units for the periods presented were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2014 February 6, 2015 February 19, 2015 0.2250 March 31, 2015 May 8, 2015 May 19, 2015 0.2450 June 30, 2015 August 6, 2015 August 19, 2015 0.2650 September 30, 2015 November 5, 2015 November 19, 2015 0.2850 December 31, 2015 February 4, 2016 February 19, 2016 0.2850 March 31, 2016 (1) May 6, 2016 May 19, 2016 0.2850 June 30, 2016 (1) August 8, 2016 August 19, 2016 0.2850 September 30, 2016 (1) November 7, 2016 November 18, 2016 0.2850 December 31, 2016 (1) February 7, 2017 February 21, 2017 0.2850 March 31, 2017 (1) May 10, 2017 May 19, 2017 0.2850 June 30, 2017 (1) August 7, 2017 August 21, 2017 0.2850 September 30, 2017 (1) November 7, 2017 November 20, 2017 0.2950 December 31, 2017 (1) February 8, 2018 February 20, 2018 0.3050 (1) Certain common unitholders elected to participate in a plan pursuant to which those unitholders elected to forego their cash distributions on all or a portion of their common units for a period of up to nine quarters commencing with the distribution for the quarter ended March 31, 2016 and, in lieu of receiving cash distributions on these common units for each such quarter, each said unitholder received Convertible Units (on a one-for-one basis for each common unit as to which the participating unitholder elected be subject to this plan) that entitled them to receive a cash distribution of up to $ 0.11 per Convertible Unit. See additional information below. Our distributions declared and paid with respect to our Convertible Unit during the years ended December 31, 2016 and 2017 were as follows: Quarter Ended Record Date Payment Date Rate March 31, 2016 May 6, 2016 May 19, 2016 $ 0.1100 June 30, 2016 August 8, 2016 August 19, 2016 0.1100 September 30, 2016 November 7, 2016 November 18, 2016 0.1100 December 31, 2016 February 7, 2017 February 21, 2017 0.1100 March 31, 2017 May 10, 2017 May 19, 2017 0.1100 June 30, 2017 August 7, 2017 August 21, 2017 0.1100 September 30, 2017 November 7, 2017 November 20, 2017 0.1100 December 31, 2017 February 8, 2018 February 20, 2018 0.1100 ETP’s Quarterly Distributions of Available Cash Under ETP’s limited partnership agreement, within 45 days after the end of each quarter, ETP distributes all cash on hand at the end of the quarter, less reserves established by the general partner in its discretion. This is defined as “available cash” in ETP’s partnership agreement. The general partner has broad discretion to establish cash reserves that it determines are necessary or appropriate to properly conduct ETP’s business. ETP will make quarterly distributions to the extent there is sufficient cash from operations after establishment of cash reserves and payment of fees and expenses, including payments to the general partner. If cash distributions exceed $0.0833 per unit in a quarter, the holders of the incentive distribution rights receive increasing percentages, up to 48 percent , of the cash distributed in excess of that amount. These distributions are referred to as “incentive distributions.” As the holder of Energy Transfer Partners, L.P.’s IDRs, the Parent Company has historically been entitled to an increasing share of Energy Transfer Partners, L.P.’s total distributions above certain target levels. Following the Sunoco Logistics Merger, the Parent Company will continue to be entitled to such incentive distributions; however, the amount of the incentive distributions to be paid by ETP will be determined based on the historical incentive distribution schedule of Sunoco Logistics. The following table summarizes the target levels related to ETP’s distributions (as a percentage of total distributions on common units, IDRs and the general partner interest). The percentage reflected in the table includes only the percentage related to the IDRs and excludes distributions to which the Parent Company would also be entitled through its direct or indirect ownership of ETP’s general partner interest, Class I units and a portion of the outstanding ETP common units. Marginal Percentage Interest in Distributions Total Quarterly Distribution Target Amount IDRs Partners (1) Minimum Quarterly Distribution $0.0750 —% 100% First Target Distribution up to $0.0833 —% 100% Second Target Distribution above $0.0833 up to $0.0958 13% 87% Third Target Distribution above $0.0958 up to $0.2638 35% 65% Thereafter above $0.2638 48% 52% (1) Includes general partner and limited partner interests, based on the proportionate ownership of each. The percentage interests shown for the unitholders and the general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. Distributions on common units declared and paid by ETP and Sunoco Logistics during the pre-merger periods were as follows: Quarter Ended ETP Sunoco Logistics December 31, 2014 $ 0.6633 $ 0.4000 March 31, 2015 0.6767 0.4190 June 30, 2015 0.6900 0.4380 September 30, 2015 0.7033 0.4580 December 31, 2015 0.7033 0.4790 March 31, 2016 0.7033 0.4890 June 30, 2016 0.7033 0.5000 September 30, 2016 0.7033 0.5100 December 31, 2016 0.7033 0.5200 Distributions on common units declared and paid by Post-Merger ETP were as follows: Quarter Ended Record Date Payment Date Rate March 31, 2017 May 10, 2017 May 16, 2017 $ 0.5350 June 30, 2017 August 7, 2017 August 15, 2017 0.5500 September 30, 2017 November 7, 2017 November 14, 2017 0.5650 December 31, 2017 February 8, 2018 February 14, 2018 0.5650 In connection with previous transactions, we have agreed to relinquish its right to the following amounts of incentive distributions in future periods: Total Year 2018 $ 153 2019 128 Each year beyond 2019 33 Distributions declared and paid by ETP to the Series A and Series B preferred unitholders were as follows: Distribution per Preferred Unit Quarter Ended Record Date Payment Date Series A Series B December 31, 2017 February 1, 2018 February 15, 2018 $ 15.451 $ 16.378 Sunoco LP Quarterly Distributions of Available Cash The following table illustrates the percentage allocations of available cash from operating surplus between Sunoco LP’s common unitholders and the holder of its IDRs based on the specified target distribution levels, after the payment of distributions to Class C unitholders. The amounts set forth under “marginal perc |
Unit-Based Compensation Plans
Unit-Based Compensation Plans | 12 Months Ended |
Dec. 31, 2017 | |
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | |
Unit-Based Compensation Plans | UNIT-BASED COMPENSATION PLANS: We, ETP and Sunoco LP have issued equity incentive plans for employees, officers and directors, which provide for various types of awards, including options to purchase Common Units, restricted units, phantom units, distribution equivalent rights (“DERs”), common unit appreciation rights, cash restricted units and other unit-based awards. ETE Long-Term Incentive Plan The Board of Directors or the Compensation Committee of the board of directors of our General Partner (the “Compensation Committee”) may from time to time grant additional awards to employees, directors and consultants of ETE’s general partner and its affiliates who perform services for ETE. The plan provides for the following types of awards: restricted units, phantom units, unit options, unit appreciation rights and distribution equivalent rights. The number of additional units that may be delivered pursuant to these awards is limited to 12.0 million units. As of December 31, 2017 , 10.8 million units remain available to be awarded under the plan. During the year ended December 31, 2017 , 1.2 million ETE unit awards were granted to ETE employees and certain employees of ETP and 15,648 ETE units were granted to non-employee directors. Under our equity incentive plans, our non-employee directors each receive grants that vest 60% in three years and 40% in five years and do not entitle the holders to receive distributions during the vesting period. During the year ended December 31, 2017 and 2016 , a total of 2,018 and 28,648 ETE Common Units vested, with a total fair value of $39 thousand and $205 thousand , respectively, as of the vesting date. As of December 31, 2017 , a total of 1,251,002 restricted units remain outstanding, for which we expect to recognize a total of $21 million in compensation over a weighted average period of 3.5 years . Subsidiary Unit-Based Compensation Plans Each of ETP and Sunoco LP has granted restricted or phantom unit awards (collectively, the “Subsidiary Unit Awards” to employees and directors that entitle the grantees to receive common units of the respective subsidiary. In some cases, at the discretion of the respective subsidiary’s compensation committee, the grantee may instead receive an amount of cash equivalent to the value of common units upon vesting. Substantially all of the Subsidiary Unit Awards are time-vested grants, which generally vest over a five-year period, and vesting The Subsidiary Unit Awards entitle the grantees of the unit awards to receive an amount of cash equal to the per unit cash distributions made by the respective subsidiaries during the period the restricted unit is outstanding. The following table summarizes the activity of the Subsidiary Unit Awards: ETP Sunoco LP Number of Units Weighted Average Grant-Date Fair Value Per Unit Number of Units Weighted Average Grant-Date Fair Value Per Unit Unvested awards as of December 31, 2016 9.4 $ 27.68 2.0 $ 34.43 Legacy Sunoco Logistics unvested awards as of December 31, 2016 3.2 28.57 — — Awards granted 4.9 17.69 0.2 28.31 Awards vested (2.3 ) 34.22 (0.3 ) 45.48 Awards forfeited (1.1 ) 25.03 (0.2 ) 34.71 Unvested awards as of December 31, 2017 14.1 23.18 1.7 31.89 Weighted average grant date fair value for Subsidiary Unit Awards during the year ended December 31: 2017 $ 17.69 $ 28.31 2016 23.82 26.95 2015 23.47 40.63 The total fair value of Subsidiary Unit Awards vested for the years ended December 31, 2017, 2016, and 2015 was $40 million , $40 million , and $57 million , respectively, based on the market price of the respective subsidiaries’ common units as of the vesting date. As of December 31, 2017 , estimated compensation cost related to Subsidiary Unit Awards not yet recognized was $216 million , and the weighted average period over which this cost is expected to be recognized in expense is 2.8 years . |
Income Taxes Income Taxes (Note
Income Taxes Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | INCOME TAXES: As a partnership, we are not subject to United States federal income tax and most state income taxes. However, the Partnership conducts certain activities through corporate subsidiaries which are subject to federal and state income taxes. The components of the federal and state income tax expense (benefit) of our taxable subsidiaries were summarized as follows: Years Ended December 31, 2017 2016 2015 Current expense (benefit): Federal $ 54 $ (47 ) $ (308 ) State (16 ) (34 ) (54 ) Total 38 (81 ) (362 ) Deferred expense (benefit): Federal (2,055 ) (189 ) 268 State 184 12 (29 ) Total (1,871 ) (177 ) 239 Total income tax expense (benefit) from continuing operations $ (1,833 ) $ (258 ) $ (123 ) Historically, our effective tax rate has differed from the statutory rate primarily due to partnership earnings that are not subject to United States federal and most state income taxes at the partnership level. A reconciliation of income tax expense (benefit) at the United States statutory rate to the income tax expense (benefit) attributable to continuing operations for the years ended December 31, 2017 , 2016 and 2015 is as follows: 2017 2016 2015 Income tax expense (benefit) at United States statutory rate of 35 percent $ 248 $ 71 $ 316 Increase (reduction) in income taxes resulting from: Partnership earnings not subject to tax (477 ) (576 ) (355 ) Goodwill impairment 207 278 — State tax, net of federal tax benefit 124 (10 ) (29 ) Dividend received deduction (14 ) (15 ) (22 ) Federal rate change (1,812 ) — — Audit settlement — — (7 ) Change in tax status of subsidiary (124 ) — — Other 15 (6 ) (26 ) Income tax expense (benefit) from continuing operations $ (1,833 ) $ (258 ) $ (123 ) Deferred taxes result from the temporary differences between financial reporting carrying amounts and the tax basis of existing assets and liabilities. The table below summarizes the principal components of the deferred tax assets (liabilities) as follows: December 31, 2017 2016 Deferred income tax assets: Net operating losses and alternative minimum tax credit $ 683 $ 472 Pension and other postretirement benefits 21 30 Long-term debt 14 32 Other 191 182 Total deferred income tax assets 909 716 Valuation allowance (189 ) (118 ) Net deferred income tax assets 720 598 Deferred income tax liabilities: Property, plant and equipment (1,036 ) (1,633 ) Investments in unconsolidated affiliates (2,726 ) (3,789 ) Trademarks (173 ) (273 ) Other (100 ) (15 ) Total deferred income tax liabilities (4,035 ) (5,710 ) Net deferred income taxes $ (3,315 ) $ (5,112 ) The table below provides a rollforward of the net deferred income tax liability as follows: December 31, 2017 2016 Net deferred income tax liability, beginning of year $ (5,112 ) $ (4,590 ) Goodwill associated with Sunoco Retail to Sunoco LP transaction (see Note 3) — (460 ) Net assets (excluding goodwill) associated with Sunoco Retail to Sunoco LP (see Note 3) — (243 ) Tax provision, including provision from discontinued operations 1,825 201 Other (28 ) (20 ) Net deferred income tax liability $ (3,315 ) $ (5,112 ) ETP Holdco and certain other corporate subsidiaries have federal net operating loss carryforward tax benefits of $403 million , all of which will expire in 2031 through 2037 . Our corporate subsidiaries have $62 million of federal alternative minimum tax credits at December 31, 2017, of which $29 million is expected to be reclassified to current income tax receivable in 2018 pursuant to the Tax Cuts and Jobs Act. Our corporate subsidiaries have net operating loss carryforward benefits of $274 million , $217 million net of federal tax, which expire between January 1, 2018 and 2037 . A valuation allowance of $186 million is applicable to the state net operating loss carryforward benefits applicable to significant restriction on their use in the Commonwealth of Pennsylvania and the remaining $3 million valuation allowance is applicable to the federal net operating loss carryforward benefit. The following table sets forth the changes in unrecognized tax benefits: Years Ended December 31, 2017 2016 2015 Balance at beginning of year $ 615 $ 610 $ 440 Additions attributable to tax positions taken in the current year — 8 178 Additions attributable to tax positions taken in prior years 28 18 — Reduction attributable to tax positions taken in prior years (25 ) (20 ) — Lapse of statute (9 ) (1 ) (8 ) Balance at end of year $ 609 $ 615 $ 610 As of December 31, 2017 , we have $605 million ( $576 million after federal income tax benefits) related to tax positions which, if recognized, would impact our effective tax rate. Our policy is to accrue interest expense and penalties on income tax underpayments (overpayments) as a component of income tax expense. During 2017 , we recognized interest and penalties of less than $3 million . At December 31, 2017 , we have interest and penalties accrued of $9 million , net of tax. Sunoco, Inc. has historically included certain government incentive payments as taxable income on its federal and state income tax returns. In connection with Sunoco, Inc.’s 2004 through 2011 years, Sunoco, Inc. filed amended returns with the IRS excluding these government incentive payments from federal taxable income. The IRS denied the amended returns, and Sunoco, Inc. petitioned the Court of Federal Claims (“CFC”) in June 2015 on this issue. In November 2016, the CFC ruled against Sunoco, Inc., and Sunoco, Inc. is appealing this decision to the Federal Circuit. If Sunoco, Inc. is ultimately fully successful in its litigation, it will receive tax refunds of approximately $530 million . However, due to the uncertainty surrounding the litigation, a reserve of $530 million was established for the full amount of the litigation. Due to the timing of the litigation and the related reserve, the receivable and the reserve for this issue have been netted in the consolidated balance sheet as of December 31, 2017 . In December 2015, the Pennsylvania Commonwealth Court determined in Nextel Communications v. Commonwealth (“Nextel”) that the Pennsylvania limitation on NOL carryforward deductions violated the uniformity clause of the Pennsylvania Constitution and struck the NOL limitation in its entirety. In October 2017, the Pennsylvania Supreme Court affirmed the decision with respect to the uniformity clause violation; however, the Court reversed with respect to the remedy and instead severed the flat-dollar limitation, leaving the percentage-based limitation intact. Nextel has until April 4, 2018 to file a petition for writ of certiorari with the U.S. Supreme Court. Sunoco, Inc. has recognized approximately $67 million ( $53 million after federal income tax benefits) in tax benefit based on previously filed tax returns and certain previously filed protective claims as relates to its cases currently held pending the Nextel matter. However, based upon the Pennsylvania Supreme Court’s October 2017 decision, and because of uncertainty in the breadth of the application of the decision, we have reserved $27 million ( $21 million after federal income tax benefits) against the receivable. In general, ETP and its subsidiaries are no longer subject to examination by the Internal Revenue Service (“IRS”), and most state jurisdictions, for 2013 and prior tax years. However, Sunoco, Inc. and its subsidiaries are no longer subject to examination by the IRS for tax years prior to 2007. Sunoco, Inc. has been examined by the IRS for tax years through 2013. However, statutes remain open for tax years 2007 and forward due to carryback of net operating losses and/or claims regarding government incentive payments discussed above. All other issues are resolved. Though we believe the tax years are closed by statute, tax years 2004 through 2006 are impacted by the carryback of net operating losses and under certain circumstances may be impacted by adjustments for government incentive payments. ETE and its subsidiaries also have various state and local income tax returns in the process of examination or administrative appeal in various jurisdictions. We believe the appropriate accruals or unrecognized tax benefits have been recorded for any potential assessment with respect to these examinations. Income Tax Benefit. On December 22, 2017, the Tax Cuts and Jobs Act was signed into law. Among other provisions, the highest corporate federal income tax rate was reduced from 35% to 21% for taxable years beginning after December 31, 2017 . As a result, the Partnership recognized a deferred tax benefit of $1.81 billion in December 2017. For the year ended December 2016, the Partnership recorded an income tax benefit due to pre-tax losses at its corporate subsidiaries. |
Derivative Assets And Liabiliti
Derivative Assets And Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Derivative Assets And Liabilities | DERIVATIVE ASSETS AND LIABILITIES: Commodity Price Risk We are exposed to market risks related to the volatility of commodity prices. To manage the impact of volatility from these prices, we utilize various exchange-traded and OTC commodity financial instrument contracts. These contracts consist primarily of futures, swaps and options and are recorded at fair value in our consolidated balance sheets. We use futures and basis swaps, designated as fair value hedges, to hedge our natural gas inventory stored in our Bammel storage facility. At hedge inception, we lock in a margin by purchasing gas in the spot market or off peak season and entering into a financial contract. Changes in the spreads between the forward natural gas prices and the physical inventory spot price result in unrealized gains or losses until the underlying physical gas is withdrawn and the related designated derivatives are settled. Once the gas is withdrawn and the designated derivatives are settled, the previously unrealized gains or losses associated with these positions are realized. We use futures, swaps and options to hedge the sales price of natural gas we retain for fees in our intrastate transportation and storage operations and operational gas sales on our interstate transportation and storage operations. These contracts are not designated as hedges for accounting purposes. We use NGL and crude derivative swap contracts to hedge forecasted sales of NGL and condensate equity volumes we retain for fees in our midstream operations whereby our subsidiaries generally gather and process natural gas on behalf of producers, sell the resulting residue gas and NGL volumes at market prices and remit to producers an agreed upon percentage of the proceeds based on an index price for the residue gas and NGL. These contracts are not designated as hedges for accounting purposes. We utilize swaps, futures and other derivative instruments to mitigate the risk associated with market movements in the price of refined products and NGLs to manage our storage facilities and the purchase and sale of purity NGL. These contracts are not designated as hedges for accounting purposes. We use futures and swaps to achieve ratable pricing of crude oil purchases, to convert certain expected refined product sales to fixed or floating prices, to lock in margins for certain refined products and to lock in the price of a portion of natural gas purchases or sales and transportation costs in our retail marketing operations. These contracts are not designated as hedges for accounting purposes. We use financial commodity derivatives to take advantage of market opportunities in our trading activities which complement our transportation and storage operations’ and are netted in cost of products sold in our consolidated statements of operations. We also have trading and marketing activities related to power and natural gas in our all other operations which are also netted in cost of products sold. As a result of our trading activities and the use of derivative financial instruments in our transportation and storage operations, the degree of earnings volatility that can occur may be significant, favorably or unfavorably, from period to period. We attempt to manage this volatility through the use of daily position and profit and loss reports provided to our risk oversight committee, which includes members of senior management, and the limits and authorizations set forth in our commodity risk management policy. The following table details our outstanding commodity-related derivatives: December 31, 2017 December 31, 2016 Notional Volume Maturity Notional Volume Maturity Mark-to-Market Derivatives (Trading) Natural Gas (BBtu): Fixed Swaps/Futures 1,078 2018 (683 ) 2017 Basis Swaps IFERC/NYMEX (1) 48,510 2018-2020 2,243 2017 Options – Puts 13,000 2018 — — Power (Megawatt): Forwards 435,960 2018-2019 391,880 2017 - 2018 Futures (25,760 ) 2018 109,564 2017 - 2018 Options — Puts (153,600 ) 2018 (50,400 ) 2017 Options — Calls 137,600 2018 186,400 2017 Crude (MBbls) – Futures — — (617 ) 2017 (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX 4,650 2018-2020 10,750 2017 - 2018 Swing Swaps IFERC 87,253 2018-2019 (5,663 ) 2017 Fixed Swaps/Futures (4,390 ) 2018-2019 (52,653 ) 2017 - 2019 Forward Physical Contracts (145,105 ) 2018-2020 (22,492 ) 2017 Natural Gas Liquid (MBbls) – Forwards/Swaps 6,744 2018-2019 (5,787 ) 2017 Refined Products (MBbls) – Futures (3,901 ) 2018-2019 (3,144 ) 2017 Corn (Bushels) – Futures 1,870,000 2018 1,580,000 2017 Fair Value Hedging Derivatives (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (39,770 ) 2018 (36,370 ) 2017 Fixed Swaps/Futures (39,770 ) 2018 (36,370 ) 2017 Hedged Item — Inventory 39,770 2018 36,370 2017 (1) Includes aggregate amounts for open positions related to Houston Ship Channel, Waha Hub, NGPL TexOk, West Louisiana Zone and Henry Hub locations. Interest Rate Risk We are exposed to market risk for changes in interest rates. To maintain a cost effective capital structure, we borrow funds using a mix of fixed rate debt and variable rate debt. We also manage our interest rate exposure by utilizing interest rate swaps to achieve a desired mix of fixed and variable rate debt. We also utilize forward starting interest rate swaps to lock in the rate on a portion of our anticipated debt issuances. The following table summarizes our interest rate swaps outstanding, none of which are designated as hedges for accounting purposes: Notional Amount Outstanding Entity Term Type (1) December 31, 2017 December 31, 2016 ETP July 2017 (2) Forward-starting to pay a fixed rate of 3.90% and receive a floating rate $ — $ 500 ETP July 2018 (2) Forward-starting to pay a fixed rate of 3.76% and receive a floating rate 300 200 ETP July 2019 (2) Forward-starting to pay a fixed rate of 3.64% and receive a floating rate 300 200 ETP July 2020 (2) Forward-starting to pay a fixed rate of 3.52% and receive a floating rate 400 — ETP December 2018 Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.53% 1,200 1,200 ETP March 2019 Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.42% 300 300 (1) Floating rates are based on 3-month LIBOR. (2) Represents the effective date. These forward-starting swaps have a term of 30 years with a mandatory termination date the same as the effective date. Credit Risk Credit risk refers to the risk that a counterparty may default on its contractual obligations resulting in a loss to the Partnership. Credit policies have been approved and implemented to govern the Partnership’s portfolio of counterparties with the objective of mitigating credit losses. These policies establish guidelines, controls and limits to manage credit risk within approved tolerances by mandating an appropriate evaluation of the financial condition of existing and potential counterparties, monitoring agency credit ratings, and by implementing credit practices that limit exposure according to the risk profiles of the counterparties. Furthermore, the Partnership may, at times, require collateral under certain circumstances to mitigate credit risk as necessary. The Partnership also uses industry standard commercial agreements which allow for the netting of exposures associated with transactions executed under a single commercial agreement. Additionally, we utilize master netting agreements to offset credit exposure across multiple commercial agreements with a single counterparty or affiliated group of counterparties. The Partnership’s counterparties consist of a diverse portfolio of customers across the energy industry, including petrochemical companies, commercial and industrials, oil and gas producers, municipalities, gas and electric utilities, midstream companies, and independent power generators. Our overall exposure may be affected positively or negatively by macroeconomic or regulatory changes that impact our counterparties to one extent or another. Currently, management does not anticipate a material adverse effect in our financial position or results of operations as a consequence of counterparty non-performance. The Partnership has maintenance margin deposits with certain counterparties in the OTC market, primarily independent system operators, and with clearing brokers. Payments on margin deposits are required when the value of a derivative exceeds our pre-established credit limit with the counterparty. Margin deposits are returned to us on or about the settlement date for non-exchange traded derivatives, and we exchange margin calls on a daily basis for exchange traded transactions. Since the margin calls are made daily with the exchange brokers, the fair value of the financial derivative instruments are deemed current and netted in deposits paid to vendors within other current assets in the consolidated balance sheets. For financial instruments, failure of a counterparty to perform on a contract could result in our inability to realize amounts that have been recorded on our consolidated balance sheets and recognized in net income or other comprehensive income. Derivative Summary The following table provides a summary of our derivative assets and liabilities: Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Derivatives designated as hedging instruments: Commodity derivatives (margin deposits) $ 14 $ — $ (2 ) $ (4 ) 14 — (2 ) (4 ) Derivatives not designated as hedging instruments: Commodity derivatives (margin deposits) 262 338 (281 ) (416 ) Commodity derivatives 45 25 (58 ) (58 ) Interest rate derivatives — — (219 ) (193 ) Embedded derivatives in ETP Convertible Preferred Units — — — (1 ) 307 363 (558 ) (668 ) Total derivatives $ 321 $ 363 $ (560 ) $ (672 ) The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements: Asset Derivatives Liability Derivatives Balance Sheet Location December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Derivatives without offsetting agreements Derivative assets (liabilities) $ — $ — $ (219 ) $ (194 ) Derivatives in offsetting agreements: OTC contracts Derivative assets (liabilities) 45 25 (58 ) (58 ) Broker cleared derivative contracts Other current assets (liabilities) 276 338 (283 ) (420 ) 321 363 (560 ) (672 ) Offsetting agreements: Counterparty netting Derivative assets (liabilities) (21 ) (4 ) 21 4 Counterparty netting Other current assets (liabilities) (263 ) (338 ) 263 338 Total net derivatives $ 37 $ 21 $ (276 ) $ (330 ) We disclose the non-exchange traded financial derivative instruments as derivative assets and liabilities on our consolidated balance sheets at fair value with amounts classified as either current or long-term depending on the anticipated settlement date. The following tables summarize the amounts recognized with respect to our derivative financial instruments: Location of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness Years Ended December 31, 2017 2016 2015 Derivatives in fair value hedging relationships (including hedged item): Commodity derivatives Cost of products sold $ 26 $ 14 $ 21 Total $ 26 $ 14 $ 21 Location of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income on Derivatives Years Ended December 31, 2017 2016 2015 Derivatives not designated as hedging instruments: Commodity derivatives – Trading Cost of products sold $ 31 $ (35 ) $ (11 ) Commodity derivatives – Non-trading Cost of products sold 5 (177 ) 15 Interest rate derivatives Losses on interest rate derivatives (37 ) (12 ) (18 ) Embedded derivatives Other, net 1 4 12 Total $ — $ (220 ) $ (2 ) |
Regulatory Matters, Commitments
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities [Abstract] | |
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities | REGULATORY MATTERS, COMMITMENTS, CONTINGENCIES AND ENVIRONMENTAL LIABILITIES: Contingent Residual Support Agreement – AmeriGas In connection with the closing of the contribution of its propane operations in January 2012, ETP previously provided contingent residual support of certain debt obligations of AmeriGas. AmeriGas has subsequently repaid the remainder of the related obligations and ETP no longer provides contingent residual support for any AmeriGas notes. Guarantee of Sunoco LP Notes In connection with previous transactions whereby Retail Holdings contributed assets to Sunoco LP, Retail Holdings provided a limited contingent guarantee of collection, but not of payment, to Sunoco LP with respect to (i) $800 million principal amount of 6.375% senior notes due 2023 issued by Sunoco LP, (ii) $800 million principal amount of 6.25% senior notes due 2021 issued by Sunoco LP and (iii) $2.035 billion aggregate principal for Sunoco LP’s term loan due 2019. In December 2016, Retail Holdings contributed its interests in Sunoco LP, along with the assignment of the guarantee of Sunoco LP’s senior notes, to its subsidiary, ETC M-A Acquisition LLC (“ETC M-A”). On January 23, 2018, Sunoco LP redeemed the previously guaranteed senior notes and issued the following notes for which ETC M-A has also guaranteed collection with respect to the payment of principal amounts: • $1.00 billion aggregate principal amount of 4.875% , senior notes due 2023; • $800 million aggregate principal amount of 5.50% senior notes due 2026; and • $400 million aggregate principal amount of 5.875% senior notes due 2028. Under the guarantee of collection, ETC M-A would have the obligation to pay the principal of each series of notes once all remedies, including in the context of bankruptcy proceedings, have first been fully exhausted against Sunoco LP with respect to such payment obligation, and holders of the notes are still owed amounts in respect of the principal of such notes. ETC M-A will not otherwise be subject to the covenants of the indenture governing the notes. FERC Audit In March 2016, the FERC commenced an audit of Trunkline for the period from January 1, 2013 to present to evaluate Trunkline’s compliance with the requirements of its FERC gas tariff, the accounting regulations of the Uniform System of Accounts as prescribed by the FERC, and the FERC’s annual reporting requirements. The audit is ongoing. Commitments In the normal course of business, ETP purchases, processes and sells natural gas pursuant to long-term contracts and enters into long-term transportation and storage agreements. Such contracts contain terms that are customary in the industry. We believe that the terms of these agreements are commercially reasonable and will not have a material adverse effect on its financial position or results of operations. ETP’s joint venture agreements require that they fund their proportionate share of capital contributions to their unconsolidated affiliates. Such contributions will depend upon their unconsolidated affiliates’ capital requirements, such as for funding capital projects or repayment of long-term obligations. We have certain non-cancelable leases for property and equipment, which require fixed monthly rental payments with typical initial terms of 5 to 15 years, with some having a term of 40 years or more. The table below reflects rental expense under these operating leases included in operating expenses in the accompanying statements of operations, which include contingent rentals, and rental expense recovered through related sublease rental income: Years Ended December 31, 2017 2016 2015 Rental expense (1) $ 196 $ 187 $ 281 Less: Sublease rental income (25 ) (26 ) (26 ) Rental expense, net $ 171 $ 161 $ 255 (1) Includes contingent rentals totaling $16 million , $18 million and $20 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. Future minimum lease commitments for such leases are: Years Ending December 31: 2018 $ 113 2019 100 2020 96 2021 83 2022 71 Thereafter 606 Future minimum lease commitments 1,069 Less: Sublease rental income (152 ) Net future minimum lease commitments $ 917 Litigation and Contingencies We may, from time to time, be involved in litigation and claims arising out of our operations in the normal course of business. Natural gas and crude oil are flammable and combustible. Serious personal injury and significant property damage can arise in connection with their transportation, storage or use. In the ordinary course of business, we are sometimes threatened with or named as a defendant in various lawsuits seeking actual and punitive damages for product liability, personal injury and property damage. We maintain liability insurance with insurers in amounts and with coverage and deductibles management believes are reasonable and prudent, and which are generally accepted in the industry. However, there can be no assurance that the levels of insurance protection currently in effect will continue to be available at reasonable prices or that such levels will remain adequate to protect us from material expenses related to product liability, personal injury or property damage in the future. Dakota Access Pipeline On July 25, 2016, the United States Army Corps of Engineers (“USACE”) issued permits to Dakota Access consistent with environmental and historic preservation statutes for the pipeline to make two crossings of the Missouri River in North Dakota, including a crossing of the Missouri River at Lake Oahe. After significant delay, the USACE also issued easements to allow the pipeline to cross land owned by the USACE adjacent to the Missouri River in two locations. Also in July, the Standing Rock Sioux Tribe (“SRST”) filed a lawsuit in the United States District Court for the District of Columbia against the USACE that challenged the legality of the permits issued for the construction of the Dakota Access pipeline across those waterways and claimed violations of the National Historic Preservation Act (“NHPA”). The SRST also sought a preliminary injunction to rescind the USACE permits while the case is pending. Dakota Access intervened in the case. The SRST soon added a request for an emergency temporary restraining order (“TRO”) to stop construction on the pipeline project. On September 9, 2016, the Court denied SRST’s motion for a preliminary injunction, rendering the TRO request moot. After the September 9, 2016 ruling, the Department of the Army, the DOJ, and the Department of the Interior released a joint statement that the USACE would not grant the easement for the land adjacent to Lake Oahe until the Department of the Army completed a review to determine whether it was necessary to reconsider the USACE’s decision under various federal statutes relevant to the pipeline approval. The SRST appealed the denial of the preliminary injunction to the United States Court of Appeals for the D.C. Circuit and filed an emergency motion in the United States District Court for an injunction pending the appeal, which was denied. The D.C. Circuit then denied the SRST’s application for an injunction pending appeal and later dismissed SRST’s appeal of the order denying the preliminary injunction motion. The SRST filed an amended complaint and added claims based on treaties between the tribes and the United States and statutes governing the use of government property. In December 2016, the Department of the Army announced that, although its prior actions complied with the law, it intended to conduct further environmental review of the crossing at Lake Oahe. In February 2017, in response to a presidential memorandum, the Department of the Army decided that no further environmental review was necessary and delivered an easement to Dakota Access allowing the pipeline to cross Lake Oahe. Almost immediately, the Cheyenne River Sioux Tribe (“CRST”), which had intervened in the lawsuit in August 2016, moved for a preliminary injunction and TRO to block operation of the pipeline. These motions raised, for the first time, claims based on the religious rights of the Tribe. The District Court denied the TRO and preliminary injunction, and the CRST appealed and requested an injunction pending appeal in the district court and the D.C. Circuit. Both courts denied the CRST’s request for an injunction pending appeal. Shortly thereafter, at CRST’s request, the D.C. Circuit dismissed CRST’s appeal. The SRST and the CRST amended their complaints to incorporate religious freedom and other claims. In addition, the Oglala and Yankton Sioux tribes (collectively, “Tribes”) have filed related lawsuits to prevent construction of the Dakota Access pipeline project. These lawsuits have been consolidated into the action initiated by the SRST. Several individual members of the Tribes have also intervened in the lawsuit asserting claims that overlap with those brought by the four Tribes. On June 14, 2017, the Court ruled on SRST’s and CRST’s motions for partial summary judgment and the USACE’s cross-motions for partial summary judgment. The Court rejected the majority of the Tribes’ assertions and granted summary judgment on most claims in favor of the USACE and Dakota Access. In particular, the Court concluded that the USACE had not violated any trust duties owed to the Tribes and had generally complied with its obligations under the Clean Water Act, the Rivers and Harbors Act, the Mineral Leasing Act, the National Environmental Policy Act (“NEPA”) and other related statutes; however, the Court remanded to the USACE three discrete issues for further analysis and explanation of its prior determinations under certain of these statutes. The Court ordered briefing to determine whether the pipeline should remain in operation during the pendency of the USACE’s review process or whether to vacate the existing permits. The USACE and Dakota Access opposed any shutdown of operations of the pipeline during this review process. On October 11, 2017, the Court issued an order allowing the pipeline to remain in operation during the pendency of the USACE’s review process. In early October 2017, USACE advised the Court that it expects to complete the additional analysis and explanation of its prior determinations requested by the Court by April 2018. On December 4, 2017, the Court imposed three conditions on continued operation of the pipeline during the remand process. First, Dakota Access must retain an independent auditor to review its compliance with the conditions and regulations governing its easements and to assess integrity threats to the pipeline. The auditor’s report is required to be filed with the Court by April 1, 2018. Second, the Court has directed Dakota Access to continue its work with the Tribes and the USACE to revise and finalize its emergency spill response planning for the section of the pipeline crossing Lake Oahe. Dakota Access is required to file the revised plan with the Court by April 1, 2018. And third, the Court has directed Dakota Access to submit bi-monthly reports during the remand period disclosing certain inspection and maintenance information related to the segment of the pipeline running between the valves on either side of the Lake Oahe crossing. The first report was filed with the court on December 29, 2017. In November 2017, the Yankton Sioux Tribe (“YST”), moved for partial summary judgment asserting claims similar to those already litigated and decided by the Court in its June 14, 2017 decision on similar motions by CRST and SRST. YST argues that the USACE and Fish and Wildlife Service violated NEPA, the Mineral Leasing Act, the Rivers and Harbors Act, and YST’s treaty and trust rights when the government granted the permits and easements necessary for the pipeline. Briefing on YST’s motion is ongoing. While we believe that the pending lawsuits are unlikely to halt or suspend the operation of the pipeline, we cannot assure this outcome. We cannot determine when or how these lawsuits will be resolved or the impact they may have on the Dakota Access project. Mont Belvieu Incident On June 26, 2016, a hydrocarbon storage well located on another operator’s facility adjacent to Lone Star NGL Mont Belvieu’s (“Lone Star”) facilities in Mont Belvieu, Texas experienced an over-pressurization resulting in a subsurface release. The subsurface release caused a fire at Lone Star’s South Terminal and damage to Lone Star’s storage well operations at its South and North Terminals. Normal operations have resumed at the facilities with the exception of one of Lone Star’s storage wells. Lone Star is still quantifying the extent of its incurred and ongoing damages and has or will be seeking reimbursement for these losses. MTBE Litigation Sunoco, Inc. and/or Sunoco, Inc. (R&M), (now known as Sunoco (R&M), LLC) along with other members of the petroleum industry, are defendants in lawsuits alleging MTBE contamination of groundwater. The plaintiffs, state-level governmental entities, assert product liability claims and additional claims including nuisance, trespass, negligence, violation of environmental laws, and/or deceptive business practices. The plaintiffs seek to recover compensatory damages, and in some cases also seek natural resource damages, injunctive relief, punitive damages, and attorneys’ fees. As of December 31, 2017 , Sunoco, Inc. is a defendant in seven cases, including one case each initiated by the States of Maryland, New Jersey, Vermont, Rhode Island, one by the Commonwealth of Pennsylvania and two by the Commonwealth of Puerto Rico. The more recent Puerto Rico action is a companion case alleging damages for additional sites beyond those at issue in the initial Puerto Rico action. The actions brought by the State of Maryland and Commonwealth of Pennsylvania have also named as defendants Energy Transfer Partners, L.P., ETP Holdco Corporation, and Sunoco Partners Marketing & Terminals, L.P. Four of these cases are pending in a multidistrict litigation proceeding in a New York federal court; one is pending in federal court in Rhode Island, one is pending in state court in Vermont, and one is pending in state court in Maryland. Sunoco, Inc. and Sunoco, Inc. (R&M) have reached a settlement with the State of New Jersey. The Court approved the Judicial Consent Order on December 5, 2017. Dismissal of the case against Sunoco, Inc. and Sunoco, Inc. (R&M) is expected shortly. The Maryland complaint was filed in December 2017 but was not served until January 2018. It is reasonably possible that a loss may be realized in the remaining cases; however, we are unable to estimate the possible loss or range of loss in excess of amounts accrued. An adverse determination with respect to one or more of the MTBE cases could have a significant impact on results of operations during the period in which any such adverse determination occurs, but such an adverse determination likely would not have a material adverse effect on the Partnership’s consolidated financial position. Regency Merger Litigation Following the January 26, 2015 announcement of the Regency-ETP merger (the “Regency Merger”), purported Regency unitholders filed lawsuits in state and federal courts in Dallas and Delaware asserting claims relating to the Regency Merger. All but one Regency Merger-related lawsuits have been dismissed. On June 10, 2015, Adrian Dieckman (“Dieckman”), a purported Regency unitholder, filed a class action complaint, Dieckman v. Regency GP LP, et al. , C.A. No. 11130-CB, in the Court of Chancery of the State of Delaware (the “Regency Merger Litigation”), on behalf of Regency’s common unitholders against Regency GP, LP; Regency GP LLC; ETE, ETP, ETP GP, and the members of Regency’s board of directors (the “Regency Litigation Defendants”). The Regency Merger litigation alleges that the Regency Merger breached the Regency partnership agreement because Regency’s conflicts committee was not properly formed, and the Regency Merger was not approved in good faith. On March 29, 2016, the Delaware Court of Chancery granted the Regency Litigation Defendants’ motion to dismiss the lawsuit in its entirety. Dieckman appealed. On January 20, 2017, the Delaware Supreme Court reversed the judgment of the Court of Chancery. On May 5, 2017, Plaintiff filed an Amended Verified Class Action Complaint. The Regency Litigation Defendants then filed Motions to Dismiss the Amended Complaint and a Motion to Stay Discovery on May 19, 2017. On February 20, 2018, the Court of Chancery issued an Order granting in part and denying in part the motions to dismiss, dismissing the claims against all defendants other than Regency GP, LP and Regency GP LLC. The Regency Litigation Defendants cannot predict the outcome of the Regency Merger Litigation or any lawsuits that might be filed subsequent to the date of this filing; nor can the Regency Litigation Defendants predict the amount of time and expense that will be required to resolve the Regency Merger Litigation. The Regency Litigation Defendants believe the Regency Merger Litigation is without merit and intend to vigorously defend against it and any others that may be filed in connection with the Regency Merger. Enterprise Products Partners, L.P. and Enterprise Products Operating LLC Litigation On January 27, 2014, a trial commenced between ETP against Enterprise Products Partners, L.P. and Enterprise Products Operating LLC (collectively, “Enterprise”) and Enbridge (US) Inc. Trial resulted in a verdict in favor of ETP against Enterprise that consisted of $319 million in compensatory damages and $595 million in disgorgement to ETP. The jury also found that ETP owed Enterprise $1 million under a reimbursement agreement. On July 29, 2014, the trial court entered a final judgment in favor of ETP and awarded ETP $536 million , consisting of compensatory damages, disgorgement, and pre-judgment interest. The trial court also ordered that ETP shall be entitled to recover post-judgment interest and costs of court and that Enterprise is not entitled to any net recovery on its counterclaims. Enterprise filed a notice of appeal with the Court of Appeals. On July 18, 2017, the Court of Appeals issued its opinion and reversed the trial court’s judgment. ETP’s motion for rehearing to the Court of Appeals was denied. ETP filed a petition for review with the Texas Supreme Court. Enterprise’s response is due February 26, 2018. Sunoco Logistics Merger Litigation Seven purported Energy Transfer Partners, L.P. common unitholders (the “ETP Unitholder Plaintiffs”) separately filed seven putative unitholder class action lawsuits against ETP, ETP GP, ETP LLC, the members of the ETP Board, and ETE (the “ETP-SXL Defendants”) in connection with the announcement of the Sunoco Logistics Merger. Two of these lawsuits were voluntarily dismissed in March 2017. The five remaining lawsuits were consolidated as In re Energy Transfer Partners, L.P. Shareholder Litig ., C.A. No. 1:17-cv-00044-CCC, in the United States District Court for the District of Delaware (the “Sunoco Logistics Merger Litigation”). The ETP Unitholder Plaintiffs allege causes of action challenging the merger and the proxy statement/prospectus filed in connection with the Sunoco Logistics Merger (the “ETP-SXL Merger Proxy”). The ETP Unitholder Plaintiffs sought rescission of the Sunoco Logistics Merger or rescissory damages for ETP unitholders, as well as an award of costs and attorneys’ fees. On October 5, 2017, the ETP-SXL Defendants filed a Motion to Dismiss the ETP Unitholder Plaintiffs’ claims. Rather than respond to the Motion to Dismiss, the ETP Unitholder Plaintiffs chose to voluntarily dismiss their claims without prejudice in November 2017. The ETP-SXL Defendants cannot predict whether the ETP Unitholder Plaintiffs will refile their claims against the ETP-SXL Defendants or what the outcome of any such lawsuits might be. Nor can the ETP-SXL Defendants predict the amount of time and expense that would be required to resolve such lawsuits. The ETP-SXL Defendants believe the Sunoco Logistics Merger Litigation was without merit and intend to defend vigorously against any future lawsuits challenging the Sunoco Logistics Merger. Litigation Filed By or Against Williams On April 6, 2016, Williams filed a complaint, The Williams Companies, Inc. v. Energy Transfer Equity, L.P. , C.A. No. 12168-VCG, against ETE and LE GP in the Delaware Court of Chancery (the “First Delaware Williams Litigation”). Williams sought, among other things, to (a) rescind the Issuance and (b) invalidate an amendment to ETE’s partnership agreement that was adopted on March 8, 2016 as part of the Issuance. On May 3, 2016, ETE and LE GP filed an answer and counterclaim in the First Delaware Williams Litigation. The counterclaim asserts in general that Williams materially breached its obligations under the Merger Agreement by (a) blocking ETE’s attempts to complete a public offering of the Convertible Units, including, among other things, by declining to allow Williams’ independent registered public accounting firm to provide the auditor consent required to be included in the registration statement for a public offering and (b) bringing a lawsuit concerning the Issuance against Mr. Warren in the District Court of Dallas County, Texas, which the Texas state court later dismissed based on the Merger Agreement’s forum-selection clause. On May 13, 2016, Williams filed a second lawsuit in the Delaware Court of Chancery (the “Court”) against ETE and LE GP and added Energy Transfer Corp LP, ETE Corp GP, LLC, and Energy Transfer Equity GP, LLC as additional defendants (collectively, “Defendants”). This lawsuit is styled The Williams Companies, Inc. v. Energy Transfer Equity, L.P., et al ., C.A. No. 12337-VCG (the “Second Delaware Williams Litigation”). In general, Williams alleged that Defendants breached the Merger Agreement by (a) failing to use commercially reasonable efforts to obtain from Latham & Watkins LLP (“Latham”) the delivery of a tax opinion concerning Section 721 of the Internal Revenue Code (“721 Opinion”), (b) breaching a representation and warranty in the Merger Agreement concerning Section 721 of the Internal Revenue Code, and (c) taking actions that allegedly delayed the SEC in declaring the Form S-4 filed in connection with the merger (the “Form S-4”) effective. Williams asked the Court, in general, to (a) issue a declaratory judgment that ETE breached the Merger Agreement, (b) enjoin ETE from terminating the Merger Agreement on the basis that it failed to obtain a 721 Opinion, (c) enjoin ETE from terminating the Merger Agreement on the basis that the transaction failed to close by the outside date, and (d) force ETE to close the merger or take various other affirmative actions. ETE filed an answer and counterclaim in the Second Delaware Williams Litigation. In addition to the counterclaims previously asserted, ETE asserted that Williams materially breached the Merger Agreement by, among other things, (a) modifying or qualifying the Williams board of directors’ recommendation to its stockholders regarding the merger, (b) failing to provide material information to ETE for inclusion in the Form S-4 related to the merger, (c) failing to facilitate the financing of the merger, (d) failing to use its reasonable best efforts to consummate the merger, and (e) breaching the Merger Agreement’s forum-selection clause. ETE sought, among other things, a declaration that it could validly terminate the Merger Agreement after June 28, 2016 in the event that Latham was unable to deliver the 721 Opinion on or prior to June 28, 2016. After a two-day trial on June 20 and 21, 2016, the Court ruled in favor of ETE on Williams’ claims in the Second Delaware Williams Litigation and issued a declaratory judgment that ETE could terminate the merger after June 28, 2016 because of Latham’s inability to provide the required 721 Opinion. The Court also denied Williams’ requests for injunctive relief. The Court did not reach a decision regarding Williams’ claims related to the Issuance or ETE’s counterclaims. Williams filed a notice of appeal to the Supreme Court of Delaware on June 27, 2016, styled The Williams Companies, Inc. v. Energy Transfer Equity, L.P. , No. 330, 2016. Williams filed an amended complaint on September 16, 2016 and sought a $410 million termination fee and additional damages of up to $10 billion based on the purported lost value of the merger consideration. These damages claims are based on the alleged breaches of the Merger Agreement detailed above, as well as new allegations that Defendants breached an additional representation and warranty in the Merger Agreement. Defendants filed amended counterclaims and affirmative defenses on September 23, 2016 and sought a $1.48 billion termination fee under the Merger Agreement and additional damages caused by Williams’ misconduct. These damages claims are based on the alleged breaches of the Merger Agreement detailed above, as well as new allegations that Williams breached the Merger Agreement by failing to disclose material information that was required to be disclosed in the Form S-4. On September 29, 2016, Williams filed a motion to dismiss Defendants’ amended counterclaims and to strike certain of Defendants’ affirmative defenses. Following briefing by the parties on Williams’ motion, the Delaware Court of Chancery held oral arguments on November 30, 2016. On March 23, 2017, the Delaware Supreme Court affirmed the Court of Chancery’s Opinion and Order on the June 2016 trial and denied Williams’ motion for reargument on April 5, 2017. As a result of the Delaware Supreme Court’s affirmance, Williams has conceded that its $10 billion damages claim is foreclosed, although its $410 million termination fee claim remains pending. Defendants cannot predict the outcome of the First Delaware Williams Litigation, the Second Delaware Williams Litigation, or any lawsuits that might be filed subsequent to the date of this filing; nor can Defendants predict the amount of time and expense that will be required to resolve these lawsuits. Defendants believe that Williams’ claims are without merit and intend to defend vigorously against them. Unitholder Litigation Relating to the Issuance In April 2016, two purported ETE unitholders (the “Issuance Plaintiffs”) filed putative class action lawsuits against ETE, LE GP, Kelcy Warren, John McReynolds, Marshall McCrea, Matthew Ramsey, Ted Collins, K. Rick Turner, William Williams, Ray Davis, and Richard Brannon (collectively, the “Issuance Defendants”) in the Delaware Court of Chancery. These lawsuits have been consolidated as In re Energy Transfer Equity, L.P. Unitholder Litigation , Consolidated C.A. No. 12197-VCG, in the Court of Chancery of the State of Delaware (the “Issuance Litigation”). Another purported ETE unitholder, Chester County Employees’ Retirement Fund, joined the consolidated action as an additional plaintiff of April 25, 2016. The Issuance Plaintiffs allege that the Issuance breached various provisions of ETE’s limited partnership agreement. The Issuance Plaintiffs seek, among other things, preliminary and permanent injunctive relief that (a) prevents ETE from making distributions to the Convertible Units and (b) invalidates an amendment to ETE’s partnership agreement that was adopted on March 8, 2016 as part of the Issuance. On August 29, 2016, the Issuance Plaintiffs filed a consolidated amended complaint, and in addition to the injunctive relief described above, seek class-wide damages allegedly resulting from the Issuance. The Issuance Defendants and the Issuance Plaintiffs filed cross-motions for partial summary judgment. On February 28, 2017, the Court denied both motions for partial summary judgment. A trial in the Issuance Litigation is currently set for February 19-21, 2018. The Issuance Defendants cannot predict the outcome of the Issuance Litigation or any lawsuits that might be filed subsequent to the date of this filing; nor can the Issuance Defendants predict the amount of time and expense that will be required to resolve the Issuance Litigation. The Issuance Defendants believe the Issuance Litigation is without merit and intend to defend vigorously against it and any other actions challenging the Issuance. Litigation filed by BP Products On April 30, 2015, BP Products North America Inc. (“BP”) filed a complaint with the FERC, BP Products North America Inc. v. Sunoco Pipeline L.P., FERC Docket No. OR15-25 - 000, alleging that Sunoco Pipeline L.P. (“SPLP”), a wholly-owned subsidiary of ETP, entered into certain throughput and deficiency (“T&D”) agreements with shippers other than BP regarding SPLP’s crude oil pipeline between Marysville, Michigan and Toledo, Ohio, and revised its proration policy relating to that pipeline in an unduly discriminatory manner in violation of the Interstate Commerce Act (“ICA”). The complaint asked FERC to (1) terminate the agreements with the other shippers, (2) revise the proration policy, (3) order SPLP to restore BP’s volume history to the level that existed prior to the execution of the agreements with the other shippers, and (4) order damages to BP of approximately $62 million , a figure that BP reduced in subsequent filings to approximately $41 million . SPLP denied the allegations in the complaint and asserted that neither its contracts nor proration policy were unlawful and that BP’s complaint was barred by the ICA’s two-year statute of limitations provision. Interventions were filed by the two companies with which SPLP entered into T&D agreements, Marathon Petroleum Company (“Marathon”) and PBF Holding Company and Toledo Refining Company (collectively, “PBF”). A hearing on the matter was held in November 2016. On May 26, 2017, the Administrative Law Judge Patricia E. Hurt (“ALJ”) issued its initial decision (“Initial Decision”) and found that SPLP had acted discriminatorily by entering into T&D agreements with the two shippers other than BP and recommended that the FERC (1) adopt the FERC Trial Staff’s $13 million alternative damages proposal, (2) void the T&D agreements with Marathon and PBF, (3) re-set each shipper’s volume history to the level prior to the effective date of the proration policy, and (4) investigate the proration policy. The ALJ held that BP’s claim for damages was not time-barred in its entirety, but that it was not entitled to damages more than two years prior to the filing of the complaint. On July 26, 2017, each of the parties filed with the FERC a brief on exceptions to the Initial Decision. SPLP challenged all of the Initial Decision’s primary findings (except for the adjustment to the individual shipper volume histories). BP and FERC Trial Staff challenged various aspects of the Initial Decision related to remedies and the statute of limitations issue. On September 18 and 19, 2017, all parties filed briefs opposing the exceptions of the other parties. The matter is now awaiting a decision by FERC. Other Litigation and Contingencies We or our subsidiaries are a party to various legal proceedings and/or regulatory proceedings incidental to our businesses. For each of these matters, we evaluate the merits of the case, our exposure to the matter, possible legal or settlement strategies, the likelihood of an unfavorable outcome and the availability of insurance coverage. If we determine that an unfavorable outcome of a particular matter is probable and can be estimated, we accrue the contingent obligation, as well as any expected insurance recoverable amounts related to the contingency. As of December 31, 2017 and 2016 , accruals of approximately $33 million and $77 million , respectively, were reflected on our consolidated balance sheets related to these contingent obligations. As new information becomes available, our estimates may change. The impact of these changes may have a significant effect on our results of operations in a single period. The outcome of these matters cannot be predicted with certainty and there can be no assurance that the outcome of a particular matter will not result in the payment of amounts that have not been accrued for the matter. Furthermore, we may revise accrual amounts prior to resolution of a particular contingency based on changes in facts and circumstances or changes in the expected outcome. Currently, we are not able to estimate possible losses or a range of possible losses in excess of amounts accrued. No amounts have been recorded in our December 31, 2017 or 2016 consolidated balance sheets for contingencies and current litigation, other than amounts disclosed herein. Environmental Matters Our operations are subject to extensive fed |
Retirement Benefits
Retirement Benefits | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Retirement Benefits | RETIREMENT BENEFITS: Savings and Profit Sharing Plans We and our subsidiaries sponsor defined contribution savings and profit sharing plans, which collectively cover virtually all eligible employees, including those of ETP, Sunoco LP and Lake Charles LNG. Employer matching contributions are calculated using a formula based on employee contributions. We and our subsidiaries have made matching contributions of $38 million , $44 million and $40 million to the 401(k) savings plan for the years ended December 31, 2017, 2016, and 2015 , respectively. Pension and Other Postretirement Benefit Plans Panhandle Postretirement benefits expense for the years ended December 31, 2017, 2016, and 2015 reflect the impact of changes Panhandle or its affiliates adopted as of September 30, 2013, to modify its retiree medical benefits program, effective January 1, 2014. The modification placed all eligible retirees on a common medical benefit platform, subject to limits on Panhandle’s annual contribution toward eligible retirees’ medical premiums. Prior to January 1, 2013, affiliates of Panhandle offered postretirement health care and life insurance benefit plans (other postretirement plans) that covered substantially all employees. Effective January 1, 2013, participation in the plan was frozen and medical benefits were no longer offered to non-union employees. Effective January 1, 2014, retiree medical benefits were no longer offered to union employees. Sunoco, Inc. Sunoco, Inc. sponsors a defined benefit pension plan, which was frozen for most participants on June 30, 2010. On October 31, 2014, Sunoco, Inc. terminated the plan, and paid lump sums to eligible active and terminated vested participants in December 2015. Sunoco, Inc. also has a plan which provides health care benefits for substantially all of its current retirees. The cost to provide the postretirement benefit plan is shared by Sunoco, Inc. and its retirees. Access to postretirement medical benefits was phased out or eliminated for all employees retiring after July 1, 2010. In March, 2012, Sunoco, Inc. established a trust for its postretirement benefit liabilities. Sunoco made a tax-deductible contribution of approximately $200 million to the trust. The funding of the trust eliminated substantially all of Sunoco, Inc.’s future exposure to variances between actual results and assumptions used to estimate retiree medical plan obligations. Obligations and Funded Status Pension and other postretirement benefit liabilities are accrued on an actuarial basis during the years an employee provides services. The following table contains information at the dates indicated about the obligations and funded status of pension and other postretirement plans on a combined basis: December 31, 2017 December 31, 2016 Pension Benefits Pension Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Change in benefit obligation: Benefit obligation at beginning of period $ 18 $ 51 $ 166 $ 20 $ 57 $ 181 Interest cost 1 1 4 1 2 4 Amendments — — 7 — — — Benefits paid, net (2 ) (6 ) (20 ) (1 ) (7 ) (21 ) Actuarial (gain) loss and other 2 1 (1 ) (2 ) (1 ) 2 Settlements (18 ) — — — — — Benefit obligation at end of period $ 1 $ 47 $ 156 $ 18 $ 51 $ 166 Change in plan assets: Fair value of plan assets at beginning of period $ 12 $ — $ 256 $ 15 $ — $ 261 Return on plan assets and other 3 — 11 (2 ) — 6 Employer contributions 6 — 10 — — 10 Benefits paid, net (2 ) — (20 ) (1 ) — (21 ) Settlements (18 ) — — — — — Fair value of plan assets at end of period $ 1 $ — $ 257 $ 12 $ — $ 256 Amount underfunded (overfunded) at end of period $ — $ 47 $ (101 ) $ 6 $ 51 $ (90 ) Amounts recognized in the consolidated balance sheets consist of: Non-current assets $ — $ — $ 127 $ — $ — $ 114 Current liabilities — (8 ) (2 ) — (7 ) (2 ) Non-current liabilities — (39 ) (24 ) (6 ) (44 ) (23 ) $ — $ (47 ) $ 101 $ (6 ) $ (51 ) $ 89 Amounts recognized in accumulated other comprehensive loss (pre-tax basis) consist of: Net actuarial gain $ — $ 5 $ (18 ) $ — $ — $ (13 ) Prior service cost — — 21 — — 15 $ — $ 5 $ 3 $ — $ — $ 2 The following table summarizes information at the dates indicated for plans with an accumulated benefit obligation in excess of plan assets: December 31, 2017 December 31, 2016 Pension Benefits Pension Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Projected benefit obligation $ 1 $ 47 N/A $ 18 $ 51 N/A Accumulated benefit obligation 1 47 $ 156 18 51 $ 166 Fair value of plan assets 1 — 257 12 — 256 Components of Net Periodic Benefit Cost December 31, 2017 December 31, 2016 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Net Periodic Benefit Cost: Interest cost $ 2 $ 4 $ 3 $ 4 Expected return on plan assets — (9 ) (1 ) (8 ) Prior service cost amortization — 2 — 1 Net periodic benefit cost $ 2 $ (3 ) $ 2 $ (3 ) Assumptions The weighted-average assumptions used in determining benefit obligations at the dates indicated are shown in the table below: December 31, 2017 December 31, 2016 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Discount rate 3.27 % 2.34 % 3.65 % 2.34 % Rate of compensation increase N/A N/A N/A N/A The weighted-average assumptions used in determining net periodic benefit cost for the periods presented are shown in the table below: December 31, 2017 December 31, 2016 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Discount rate 3.52 % 3.10 % 3.60 % 3.06 % Expected return on assets: Tax exempt accounts 3.50 % 7.00 % 3.50 % 7.00 % Taxable accounts N/A 4.50 % N/A 4.50 % Rate of compensation increase N/A N/A N/A N/A The long-term expected rate of return on plan assets was estimated based on a variety of factors including the historical investment return achieved over a long-term period, the targeted allocation of plan assets and expectations concerning future returns in the marketplace for both equity and fixed income securities. Current market factors such as inflation and interest rates are evaluated before long-term market assumptions are determined. Peer data and historical returns are reviewed to ensure reasonableness and appropriateness. The assumed health care cost trend rates used to measure the expected cost of benefits covered by Panhandle’s and Sunoco, Inc.’s other postretirement benefit plans are shown in the table below: December 31, 2017 2016 Health care cost trend rate 7.20 % 6.73 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 4.99 % 4.96 % Year that the rate reaches the ultimate trend rate 2023 2021 Changes in the health care cost trend rate assumptions are not expected to have a significant impact on postretirement benefits. Plan Assets For the Panhandle plans, the overall investment strategy is to maintain an appropriate balance of actively managed investments with the objective of optimizing longer-term returns while maintaining a high standard of portfolio quality and achieving proper diversification. To achieve diversity within its other postretirement plan asset portfolio, Panhandle has targeted the following asset allocations: equity of 25% to 35% , fixed income of 65% to 75% . The investment strategy of Sunoco, Inc. funded defined benefit plans is to achieve consistent positive returns, after adjusting for inflation, and to maximize long-term total return within prudent levels of risk through a combination of income and capital appreciation. The objective of this strategy is to reduce the volatility of investment returns and maintain a sufficient funded status of the plans. In anticipation of the pension plan termination, Sunoco, Inc. targeted the asset allocations to a more stable position by investing in growth assets and liability hedging assets. The fair value of the pension plan assets by asset category at the dates indicated is as follows: Fair Value Measurements at December 31, 2017 Fair Value Total Level 1 Level 2 Level 3 Asset Category: Mutual funds (1) $ 1 $ 1 $ — $ — Total $ 1 $ 1 $ — $ — (1) Comprised of 100% equities as of December 31, 2017 . Fair Value Measurements at December 31, 2016 Fair Value Total Level 1 Level 2 Level 3 Asset Category: Mutual funds (1) $ 12 $ 12 $ — $ — Total $ 12 $ 12 $ — $ — (1) Comprised of 100% equities as of December 31, 2016 . The fair value of the other postretirement plan assets by asset category at the dates indicated is as follows: Fair Value Measurements at December 31, 2017 Fair Value Total Level 1 Level 2 Level 3 Asset Category: Cash and Cash Equivalents $ 33 $ 33 $ — $ — Mutual funds (1) 154 154 — — Fixed income securities 70 — 70 — Total $ 257 $ 187 $ 70 $ — (1) Primarily comprised of approximately 38% equities, 61% fixed income securities and 2% cash as of December 31, 2017 . Fair Value Measurements at December 31, 2016 Fair Value Total Level 1 Level 2 Level 3 Asset Category: Cash and Cash Equivalents $ 23 $ 23 $ — $ — Mutual funds (1) 142 142 — — Fixed income securities 91 — 91 — Total $ 256 $ 165 $ 91 $ — (1) Primarily comprised of approximately 31% equities, 66% fixed income securities and 3% cash as of December 31, 2016 . The Level 1 plan assets are valued based on active market quotes. The Level 2 plan assets are valued based on the net asset value per share (or its equivalent) of the investments, which was not determinable through publicly published sources but was calculated consistent with authoritative accounting guidelines. Contributions We expect to contribute $8 million to pension plans and $10 million to other postretirement plans in 2018 . The cost of the plans are funded in accordance with federal regulations, not to exceed the amounts deductible for income tax purposes. Benefit Payments Panhandle’s and Sunoco, Inc.’s estimate of expected benefit payments, which reflect expected future service, as appropriate, in each of the next five years and in the aggregate for the five years thereafter are shown in the table below: Years Pension Benefits - Unfunded Plans (1) Other Postretirement Benefits (Gross, Before Medicare Part D) 2018 $ 8 $ 24 2019 6 23 2020 6 21 2021 5 19 2022 4 17 2023 – 2027 15 37 (1) Expected benefit payments of funded pension plans are less than $1 million for the next ten years. The Medicare Prescription Drug Act provides for a prescription drug benefit under Medicare (“Medicare Part D”) as well as a federal subsidy to sponsors of retiree health care benefit plans that provide a prescription drug benefit that is at least actuarially equivalent to Medicare Part D. Panhandle does not expect to receive any Medicare Part D subsidies in any future periods. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS: In June 2017, ETP acquired all of the publicly held PennTex common units through a tender offer and exercise of a limited call right, as further discussed in Note 8 . ETE previously paid ETP to provide services on its behalf and on behalf of other subsidiaries of ETE, which included the reimbursement of various operating and general and administrative expenses incurred by ETP on behalf of ETE and its subsidiaries. These agreements expired in 2016. In addition, subsidiaries of ETE recorded sales with affiliates of $303 million , $221 million and $290 million during the years ended December 31, 2017 , 2016 and 2015 , respectively. |
Reportable Segments
Reportable Segments | 12 Months Ended |
Dec. 31, 2017 | |
Reportable Segments [Abstract] | |
Reportable Segments | REPORTABLE SEGMENTS: Subsequent to ETE’s acquisition of a controlling interest in Sunoco LP, our financial statements reflect the following reportable business segments: • Investment in ETP, including the consolidated operations of ETP; • Investment in Sunoco LP, including the consolidated operations of Sunoco LP; • Investment in Lake Charles LNG, including the operations of Lake Charles LNG; and • Corporate and Other, including the following: • activities of the Parent Company; and • the goodwill and property, plant and equipment fair value adjustments recorded as a result of the 2004 reverse acquisition of Heritage Propane Partners, L.P. ETP completed its acquisition of Regency in April 2015; therefore, the Investment in ETP segment amounts have been retrospectively adjusted to reflect Regency for the periods presented. The Investment in Sunoco LP segment reflects the results of Sunoco LP beginning August 29, 2014, the date that ETP originally obtained control of Sunoco LP. ETE’s consolidated results reflect the elimination of MACS, Sunoco, LLC, Susser and Sunoco Retail LLC for the periods during which those entities were included in the consolidated results of both ETP and Sunoco LP. In addition, subsequent to July 2015, ETP holds an equity method investment in Sunoco, LLC, and a continuing investment in Sunoco LP, the equity in earnings from which is also eliminated in ETE’s consolidated financial statements. We define Segment Adjusted EBITDA as earnings before interest, taxes, depreciation, depletion, amortization and other non-cash items, such as non-cash compensation expense, gains and losses on disposals of assets, the allowance for equity funds used during construction, unrealized gains and losses on commodity risk management activities, non-cash impairment charges, losses on extinguishments of debt and other non-operating income or expense items. Unrealized gains and losses on commodity risk management activities include unrealized gains and losses on commodity derivatives and inventory fair value adjustments (excluding lower of cost or market adjustments). Segment Adjusted EBITDA reflects amounts for unconsolidated affiliates based on the Partnership’s proportionate ownership. Based on the change in our reportable segments we have recast the presentation of our segment results for the prior years to be consistent with the current year presentation. Eliminations in the tables below include the following: • MACS, Sunoco LLC, Susser and Sunoco Retail LLC for the periods during which those entities were included in the consolidated results of both ETP and Sunoco LP, as discussed above. Years Ended December 31, 2017 2016 2015 Revenues: Investment in ETP: Revenues from external customers $ 28,613 $ 21,618 $ 34,156 Intersegment revenues 441 209 136 29,054 21,827 34,292 Investment in Sunoco LP: Revenues from external customers 11,713 9,977 12,419 Intersegment revenues 10 9 11 11,723 9,986 12,430 Investment in Lake Charles LNG: Revenues from external customers 197 197 216 Adjustments and Eliminations: (451 ) (218 ) (10,842 ) Total revenues $ 40,523 $ 31,792 $ 36,096 Costs of products sold: Investment in ETP $ 20,801 $ 15,080 $ 26,714 Investment in Sunoco LP 10,615 8,830 11,450 Adjustments and Eliminations (450 ) (217 ) (9,496 ) Total costs of products sold $ 30,966 $ 23,693 $ 28,668 Depreciation, depletion and amortization: Investment in ETP $ 2,332 $ 1,986 $ 1,929 Investment in Sunoco LP 169 176 150 Investment in Lake Charles LNG 39 39 39 Corporate and Other 14 15 17 Adjustments and Eliminations — — (184 ) Total depreciation, depletion and amortization $ 2,554 $ 2,216 $ 1,951 Years Ended December 31, 2017 2016 2015 Equity in earnings of unconsolidated affiliates: Investment in ETP $ 156 $ 59 $ 469 Adjustments and Eliminations (12 ) 211 (193 ) Total equity in earnings of unconsolidated affiliates $ 144 $ 270 $ 276 Years Ended December 31, 2017 2016 2015 Segment Adjusted EBITDA: Investment in ETP $ 6,712 $ 5,733 $ 5,517 Investment in Sunoco LP 732 665 719 Investment in Lake Charles LNG 175 179 196 Corporate and Other (31 ) (170 ) (104 ) Adjustments and Eliminations (268 ) (272 ) (590 ) Total Segment Adjusted EBITDA 7,320 6,135 5,738 Depreciation, depletion and amortization (2,554 ) (2,216 ) (1,951 ) Interest expense, net of interest capitalized (1,922 ) (1,804 ) (1,622 ) Gains on acquisitions — 83 — Impairment of investments in unconsolidated affiliates (313 ) (308 ) — Impairment losses (1,039 ) (1,040 ) (339 ) Losses on interest rate derivatives (37 ) (12 ) (18 ) Non-cash unit-based compensation expense (99 ) (70 ) (91 ) Unrealized gains (losses) on commodity risk management activities 59 (136 ) (65 ) Losses on extinguishments of debt (89 ) — (43 ) Inventory valuation adjustments 24 97 (67 ) Adjusted EBITDA related to discontinued operations (223 ) (199 ) (228 ) Adjusted EBITDA related to unconsolidated affiliates (716 ) (675 ) (713 ) Equity in earnings of unconsolidated affiliates 144 270 276 Other, net 155 79 23 Income from continuing operations before income tax benefit $ 710 $ 204 $ 900 Income tax benefit from continuing operations (1,833 ) (258 ) (123 ) Income from continuing operations 2,543 462 1,023 Income (loss) from discontinued operations, net of tax (177 ) (462 ) 38 Net income $ 2,366 $ — $ 1,061 December 31, 2017 2016 2015 Total assets: Investment in ETP $ 77,965 $ 70,105 $ 65,128 Investment in Sunoco LP 8,344 8,701 8,842 Investment in Lake Charles LNG 1,646 1,508 1,369 Corporate and Other 598 711 638 Adjustments and Eliminations (2,307 ) (2,100 ) (4,833 ) Total $ 86,246 $ 78,925 $ 71,144 Years Ended December 31, 2017 2016 2015 Additions to property, plant and equipment, net of contributions in aid of construction costs (capital expenditures related to the Partnership’s proportionate ownership on an accrual basis): Investment in ETP $ 5,901 $ 5,810 $ 8,167 Investment in Sunoco LP 103 119 178 Investment in Lake Charles LNG 2 — 1 Adjustments and Eliminations — — (123 ) Total $ 6,006 $ 5,929 $ 8,223 December 31, 2017 2016 2015 Advances to and investments in affiliates: Investment in ETP $ 3,816 $ 4,280 $ 5,003 Adjustments and Eliminations (1,111 ) (1,240 ) (1,541 ) Total $ 2,705 $ 3,040 $ 3,462 The following tables provide revenues, grouped by similar products and services, for our reportable segments. These amounts include intersegment revenues for transactions between ETP and Sunoco LP. Investment in ETP Years Ended December 31, 2017 2016 2015 Intrastate Transportation and Storage $ 2,891 $ 2,155 $ 1,912 Interstate Transportation and Storage 915 946 1,008 Midstream 2,510 2,342 2,607 NGL and refined products transportation and services 8,326 5,973 4,569 Crude oil transportation and services 11,672 7,539 8,980 All Other 2,740 2,872 15,216 Total revenues 29,054 21,827 34,292 Less: Intersegment revenues 441 209 136 Revenues from external customers $ 28,613 $ 21,618 $ 34,156 Investment in Sunoco LP Years Ended December 31, 2017 2016 2015 Retail operations $ 2,263 $ 1,991 $ 2,226 Wholesale operations 9,460 7,995 10,204 Total revenues 11,723 9,986 12,430 Less: Intersegment revenues 10 9 11 Revenues from external customers $ 11,713 $ 9,977 $ 12,419 Investment in Lake Charles LNG Lake Charles LNG’s revenues of $197 million , $197 million and $216 million for the years ended December 31, 2017 , 2016 and 2015 , respectively, were related to LNG terminalling. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED): Summarized unaudited quarterly financial data is presented below. Earnings per unit are computed on a stand-alone basis for each quarter and total year. Quarters Ended March 31* June 30* September 30* December 31 Total Year 2017: Revenues $ 9,660 $ 9,427 $ 9,984 $ 11,452 $ 40,523 Operating income (loss) 758 746 924 285 2,713 Net income (loss) 319 121 758 1,168 2,366 Limited Partners’ interest in net income 232 204 240 239 915 Basic net income per limited partner unit $ 0.22 $ 0.18 $ 0.22 $ 0.22 $ 0.85 Diluted net income per limited partner unit $ 0.21 $ 0.18 $ 0.22 $ 0.22 $ 0.83 Quarters Ended March 31* June 30* September 30* December 31* Total Year* 2016: Revenues $ 6,447 $ 7,866 $ 8,156 $ 9,323 $ 31,792 Operating income 680 814 624 (275 ) 1,843 Net income (loss) 320 417 (3 ) (734 ) — Limited Partners’ interest in net income 311 239 207 226 983 Basic net income per limited partner unit $ 0.30 $ 0.23 $ 0.20 $ 0.22 $ 0.94 Diluted net income per limited partner unit $ 0.30 $ 0.23 $ 0.19 $ 0.21 $ 0.92 * As adjusted. See Note 2 and Note 3. A reconciliation of amounts previously reported in Forms 10-Q to the quarterly data has not been presented due to immateriality. The three months ended December 31, 2017 and 2016 reflected the recognition of impairment losses of $1.04 billion and $1.04 billion , respectively. Impairment losses in 2017 were primarily related to ETP’s interstate transportation and storage operations, NGL and refined products operations and other operations as well as Sunoco LP’s retail operations. Impairment losses in 2016 were primarily related to ETP’s interstate transportation and storage operations and midstream operations as well as Sunoco LP’s retail operations. The three months ended December 31, 2017 and December 31, 2016 reflected the recognition of a non-cash impairment of ETP’s investments in subsidiaries of $313 million and $308 million , respectively, in its interstate transportation and storage operations. |
Supplemental Financial Statemen
Supplemental Financial Statement Information | 12 Months Ended |
Dec. 31, 2017 | |
Supplemental Financial Statement Information | |
Supplemental Financial Statement Information | SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION: Following are the financial statements of the Parent Company, which are included to provide additional information with respect to the Parent Company’s financial position, results of operations and cash flows on a stand-alone basis: BALANCE SHEETS December 31, 2017 2016 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1 $ 2 Accounts receivable from related companies 65 55 Other current assets 1 — Total current assets 67 57 PROPERTY, PLANT AND EQUIPMENT, net 27 36 ADVANCES TO AND INVESTMENTS IN UNCONSOLIDATED AFFILIATES 6,082 5,088 INTANGIBLE ASSETS, net — 1 GOODWILL 9 9 OTHER NON-CURRENT ASSETS, net 8 10 Total assets $ 6,193 $ 5,201 LIABILITIES AND PARTNERS’ CAPITAL CURRENT LIABILITIES: Accounts payable $ — $ 1 Accounts payable to related companies — 22 Interest payable 66 66 Accrued and other current liabilities 4 3 Total current liabilities 70 92 LONG-TERM DEBT, less current maturities 6,700 6,358 NOTE PAYABLE TO AFFILIATE 617 443 OTHER NON-CURRENT LIABILITIES 2 2 COMMITMENTS AND CONTINGENCIES PARTNERS’ DEFICIT: General Partner (3 ) (3 ) Limited Partners: Common Unitholders (1,079,145,561 and 1,046,947,157 units authorized, issued and outstanding as of December 31, 2017 and 2016, respectively) (1,643 ) (1,871 ) Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017 and 2016) 450 180 Total partners’ deficit (1,196 ) (1,694 ) Total liabilities and partners’ deficit $ 6,193 $ 5,201 STATEMENTS OF OPERATIONS Years Ended December 31, 2017 2016 2015 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES $ (31 ) $ (185 ) $ (112 ) OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized (347 ) (327 ) (294 ) Equity in earnings of unconsolidated affiliates 1,381 1,511 1,601 Loss on extinguishment of debt (47 ) — — Other, net (2 ) (4 ) (5 ) INCOME BEFORE INCOME TAXES 954 995 1,190 Income tax expense — — 1 NET INCOME 954 995 1,189 General Partner’s interest in net income 2 3 3 Convertible Unitholders’ interest in income 37 9 — Class D Unitholder’s interest in net income — — 3 Limited Partners’ interest in net income $ 915 $ 983 $ 1,183 STATEMENTS OF CASH FLOWS Years Ended December 31, 2017 2016 2015 NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES $ 831 $ 918 $ 1,103 CASH FLOWS FROM INVESTING ACTIVITIES: Cash paid for Bakken Pipeline Transaction — — (817 ) Contributions to unconsolidated affiliates (861 ) (70 ) — Capital expenditures (1 ) (16 ) (19 ) Contributions in aid of construction costs 7 — — Net cash used in investing activities (855 ) (86 ) (836 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings 2,219 225 3,672 Principal payments on debt (1,881 ) (210 ) (1,985 ) Distributions to partners (1,010 ) (1,022 ) (1,090 ) Proceeds from affiliate 174 176 210 Common Units issued for cash 568 — — Units repurchased under buyback program — — (1,064 ) Debt issuance costs (47 ) — (11 ) Net cash provided by (used in) financing activities 23 (831 ) (268 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1 ) 1 (1 ) CASH AND CASH EQUIVALENTS, beginning of period 2 1 2 CASH AND CASH EQUIVALENTS, end of period $ 1 $ 2 $ 1 |
Estimates, Significant Accoun25
Estimates, Significant Accounting Policies and Balance Sheet Detail (Policy) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Accounting Changes and Error Corrections [Text Block] | Change in Accounting Policy During the fourth quarter of 2017, ETP elected to change its method of inventory costing to weighted-average cost for certain inventory that had previously been accounted for using the last-in, first-out (“LIFO”) method. The inventory impacted by this change included the crude oil, refined product and NGL associated with the legacy Sunoco Logistics business. ETP’s management believes that the weighted-average cost method is preferable to the LIFO method as it more closely aligns the accounting policies across the consolidated entity, given that the legacy ETP inventory has been accounted for using the weighted-average cost method. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the accrual for and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The natural gas industry conducts its business by processing actual transactions at the end of the month following the month of delivery. Consequently, the most current month’s financial results for the midstream, NGL and intrastate transportation and storage operations are estimated using volume estimates and market prices. Any differences between estimated results and actual results are recognized in the following month’s financial statements. Management believes that the estimated operating results represent the actual results in all material respects. Some of the other significant estimates made by management include, but are not limited to, the timing of certain forecasted transactions that are hedged, the fair value of derivative instruments, useful lives for depreciation, amortization, purchase accounting allocations and subsequent realizability of intangible assets, fair value measurements used in the goodwill impairment test, market value of inventory, assets and liabilities resulting from the regulated ratemaking process, contingency reserves and environmental reserves. Actual results could differ from those estimates. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements ASU 2014-09 In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which clarifies the principles for recognizing revenue based on the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Partnership adopted ASU 2014-09 on January 1, 2018. The Partnership applied the cumulative catchup transition method and recognized the cumulative effect of the retrospective application of the standard. The effect of the retrospective application of the standard was not material. For future periods, ETP expects that the adoption of this standard will result in a change to revenues with offsetting changes to costs associated primarily with the designation of certain of its midstream agreements to be in-substance supply agreements, requiring amounts that had previously been reported as revenue under these agreements to be reclassified to a reduction of cost of sales. Changes to revenues along with offsetting changes to costs will also occur due to changes in the accounting for noncash consideration in multiple of our reportable segments, as well as fuel usage and loss allowances. None of these changes is expected to have a material impact on net income. We have determined that the timing and/or amount of revenue that we recognize on certain contracts associated with Sunoco LP’s operations will be impacted by the adoption of the new standard. We currently estimate the cumulative catch-up effect to Sunoco LP’s retained earnings as of January 1, 2018 to be approximately $54 million. These adjustments are primarily related to the change in recognition of dealer incentives and rebates. ASU 2016-02 In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which establishes the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The Partnership expects to adopt ASU 2016-02 in the first quarter of 2019 and is currently evaluating the impact that adopting this new standard will have on the consolidated financial statements and related disclosures. ASU 2016-16 On January 1, 2018, the Partnership adopted Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-entity Transfers of Assets Other Than Inventory (“ASU 2016-16”), which requires that entities recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments in this update do not change GAAP for the pre-tax effects of an intra-entity asset transfer under Topic 810, Consolidation, or for an intra-entity transfer of inventory. We do not anticipate a material impact to our financial position or results of operations as a result of the adoption of this standard. ASU 2017-04 In January 2017, the FASB issued ASU No. 2017-04 “ Intangibles-Goodwill and other (Topic 350): Simplifying the test for goodwill impairment. ” The amendments in this update remove the second step of the two-step test currently required by Topic 350. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance did not amend the optional qualitative assessment of goodwill impairment. The standard requires prospective application and therefore will only impact periods subsequent to the adoption. The Partnership adopted this ASU for its annual goodwill impairment test in the fourth quarter of 2017. ASU 2017-12 In August 2017, the FASB issued ASU No. 2017-12 “ Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. ” The amendments in this update improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. In addition, the amendments in this update make certain targeted improvements to simplify the application of the hedge accounting guidance in current GAAP. This ASU is effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Partnership is currently evaluating the impact that adopting this new standard will have on the consolidated financial statements and related disclosures. |
Revenue Recognition | Revenue Recognition Our segments are engaged in multiple revenue-generating activities. To the extent that those activities are similar among our segments, revenue recognition policies are similar. Below is a description of revenue recognition policies for significant revenue-generating activities within our segments. Investment in ETP Revenues for sales of natural gas and NGLs are recognized at the later of the time of delivery of the product to the customer or the time of sale. Revenues from service labor, transportation, treating, compression and gas processing are recognized upon completion of the service. Transportation capacity payments are recognized when earned in the period the capacity is made available. The results of ETP’s intrastate transportation and storage and interstate transportation and storage operations are determined primarily by the amount of capacity customers reserve as well as the actual volume of natural gas that flows through the transportation pipelines. Under transportation contracts, customers are charged (i) a demand fee, which is a fixed fee for the reservation of an agreed amount of capacity on the transportation pipeline for a specified period of time and which obligates the customer to pay even if the customer does not transport natural gas on the respective pipeline, (ii) a transportation fee, which is based on the actual throughput of natural gas by the customer, (iii) fuel retention based on a percentage of gas transported on the pipeline, or (iv) a combination of the three, generally payable monthly. Fuel retained for a fee is typically valued at market prices. ETP’s intrastate transportation and storage operations also generate revenues and margin from the sale of natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users and other marketing companies on the HPL System. Generally, ETP purchases natural gas from the market, including purchases from ETP’s marketing operations, and from producers at the wellhead. In addition, ETP’s intrastate transportation and storage operations generate revenues and margin from fees charged for storing customers’ working natural gas in ETP’s storage facilities. ETP also engages in natural gas storage transactions in which ETP seeks to find and profit from pricing differences that occur over time utilizing the Bammel storage reservoir. ETP purchases physical natural gas and then sells financial contracts at a price sufficient to cover ETP’s carrying costs and provide for a gross profit margin. ETP expects margins from natural gas storage transactions to be higher during the periods from November to March of each year and lower during the period from April through October of each year due to the increased demand for natural gas during colder weather. However, ETP cannot assure that management’s expectations will be fully realized in the future and in what time period, due to various factors including weather, availability of natural gas in regions in which ETP operate, competitive factors in the energy industry, and other issues. Results from ETP’s midstream operations are determined primarily by the volumes of natural gas gathered, compressed, treated, processed, purchased and sold through ETP’s pipeline and gathering systems and the level of natural gas and NGL prices. ETP generates midstream revenues and segment margins principally under fee-based or other arrangements in which ETP receives a fee for natural gas gathering, compressing, treating or processing services. The revenue earned from these arrangements is directly related to the volume of natural gas that flows through ETP’s systems and is not directly dependent on commodity prices. ETP also utilizes other types of arrangements in ETP’s midstream operations, including (i) discount-to-index price arrangements, which involve purchases of natural gas at either (1) a percentage discount to a specified index price, (2) a specified index price less a fixed amount or (3) a percentage discount to a specified index price less an additional fixed amount, (ii) percentage-of-proceeds arrangements under which ETP gathers and processes natural gas on behalf of producers, sells the resulting residue gas and NGL volumes at market prices and remits to producers an agreed upon percentage of the proceeds based on an index price, (iii) keep-whole arrangements where ETP gathers natural gas from the producer, processes the natural gas and sells the resulting NGLs to third parties at market prices, (iv) purchasing all or a specified percentage of natural gas and/or NGL delivered from producers and treating or processing ETP’s plant facilities, and (v) making other direct purchases of natural gas and/or NGL at specified delivery points to meet operational or marketing objectives. In many cases, ETP provides services under contracts that contain a combination of more than one of the arrangements described above. The terms of ETP’s contracts vary based on gas quality conditions, the competitive environment at the time the contracts are signed and customer requirements. ETP’s contract mix may change as a result of changes in producer preferences, expansion in regions where some types of contracts are more common and other market factors. NGL storage and pipeline transportation revenues are recognized when services are performed or products are delivered, respectively. Fractionation and processing revenues are recognized when product is either loaded into a truck or injected into a third-party pipeline, which is when title and risk of loss pass to the customer. In ETP’s natural gas compression business, revenue is recognized for compressor packages and technical service jobs using the completed contract method which recognizes revenue upon completion of the job. Costs incurred on a job are deducted at the time revenue is recognized. ETP conducts marketing activities in which ETP markets the natural gas that flows through ETP’s assets, referred to as on-system gas. ETP also attracts other customers by marketing volumes of natural gas that do not move through ETP’s assets, referred to as off-system gas. For both on-system and off-system gas, ETP purchases natural gas from natural gas producers and other supply points and sells that natural gas to utilities, industrial consumers, other marketers and pipeline companies, thereby generating gross margins based upon the difference between the purchase and resale prices. Terminalling and storage revenues are recognized at the time the services are provided. Pipeline revenues are recognized upon delivery of the barrels to the location designated by the shipper. Crude oil acquisition and marketing revenues, as well as refined product marketing revenues, are recognized when title to the product is transferred to the customer. Revenues are not recognized for crude oil exchange transactions, which are entered into primarily to acquire crude oil of a desired quality or to reduce transportation costs by taking delivery closer to end markets. Any net differential for exchange transactions is recorded as an adjustment of inventory costs in the purchases component of cost of products sold and operating expenses in the statements of operations. Investment in Sunoco LP Revenues from Sunoco LP’s two primary product categories, motor fuel and merchandise, are recognized either at the time fuel is delivered to the customer or at the time of sale. Shipment and delivery of motor fuel generally occurs on the same day. Sunoco LP charges its wholesale customers for third-party transportation costs, which are recorded net in cost of sales. Sunoco LP may sell motor fuel to wholesale customers on a commission agent basis, in which Sunoco LP retains title to inventory, control access to and sale of fuel inventory, and recognize revenue at the time the fuel is sold to the ultimate customer. Sunoco LP derives other income from rental income, propane and lubricating oils and other ancillary product and service offerings. Sunoco LP derives other income from lottery ticket sales, money orders, prepaid phone cards and wireless services, ATM transactions, car washes, movie rentals and other ancillary product and service offerings. Sunoco LP records revenue on a net commission basis when the product is sold and/or services are rendered. Rental income from operating leases is recognized on a straight line basis over the term of the lease. Investment in Lake Charles LNG Lake Charles LNG’s revenues from storage and re-gasification of natural gas are based on capacity reservation charges and, to a lesser extent, commodity usage charges. Reservation revenues are based on contracted rates and capacity reserved by the customers and recognized monthly. Revenues from commodity usage charges are also recognized monthly and represent the recovery of electric power charges at Lake Charles LNG’s terminal. |
Regulatory Accounting - Regulatory Assets and Liabilities | Regulatory Accounting – Regulatory Assets and Liabilities ETP’s interstate transportation and storage operations are subject to regulation by certain state and federal authorities and certain subsidiaries in those operations have accounting policies that conform to the accounting requirements and ratemaking practices of the regulatory authorities. The application of these accounting policies allows certain of ETP’s regulated entities to defer expenses and revenues on the balance sheet as regulatory assets and liabilities when it is probable that those expenses and revenues will be allowed in the ratemaking process in a period different from the period in which they would have been reflected in the consolidated statement of operations by an unregulated company. These deferred assets and liabilities will be reported in results of operations in the period in which the same amounts are included in rates and recovered from or refunded to customers. Management’s assessment of the probability of recovery or pass through of regulatory assets and liabilities will require judgment and interpretation of laws and regulatory commission orders. If, for any reason, ETP ceases to meet the criteria for application of regulatory accounting treatment for these entities, the regulatory assets and liabilities related to those portions ceasing to meet such criteria would be eliminated from the consolidated balance sheet for the period in which the discontinuance of regulatory accounting treatment occurs. Although Panhandle’s natural gas transmission systems and storage operations are subject to the jurisdiction of FERC in accordance with the NGA and NGPA, it does not currently apply regulatory accounting policies in accounting for its operations. Panhandle does not apply regulatory accounting policies primarily due to the level of discounting from tariff rates and its inability to recover specific costs. |
Cash, Cash Equivalents and Supplemental Cash Flow Information | Cash, Cash Equivalents and Supplemental Cash Flow Information Cash and cash equivalents include all cash on hand, demand deposits, and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. We place our cash deposits and temporary cash investments with high credit quality financial institutions. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limit. |
Accounts Receivable | Accounts Receivable Our subsidiaries assess the credit risk of their customers and take steps to mitigate risk as necessary. Management reviews accounts receivable and an allowance for doubtful accounts is determined based on the overall creditworthiness of customers, historical write-off experience, general and specific economic trends, and identification of specific customers with payment issues. |
Inventories | Inventories As discussed under “Change in Accounting Policy” in Note 2, ETP changed its accounting policy for certain inventory in the fourth quarter of 2017. Inventories consist principally of natural gas held in storage, NGLs and refined products, crude oil and spare parts, all of which are valued at the lower of cost or net realizable value utilizing the weighted-average cost method. Inventories consisted of the following: December 31, 2017 2016 Natural gas, NGLs, and refined products $ 1,120 $ 1,141 Crude oil 551 651 Spare parts and other 351 263 Total inventories $ 2,022 $ 2,055 ETP utilizes commodity derivatives to manage price volatility associated with certain of its natural gas inventory and designates certain of these derivatives as fair value hedges for accounting purposes. Changes in fair value of the designated hedged inventory have been recorded in inventory on our consolidated balance sheets and in cost of products sold in our consolidated statements of operations. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful or FERC mandated lives of the assets, if applicable. Expenditures for maintenance and repairs that do not add capacity or extend the useful life are expensed as incurred. Expenditures to refurbish assets that either extend the useful lives of the asset or prevent environmental contamination are capitalized and depreciated over the remaining useful life of the asset. Natural gas and NGLs used to maintain pipeline minimum pressures is capitalized and classified as property, plant and equipment. Additionally, our subsidiaries capitalize certain costs directly related to the construction of assets including internal labor costs, interest and engineering costs. Upon disposition or retirement of pipeline components or natural gas plant components, any gain or loss is recorded to accumulated depreciation. When entire pipeline systems, gas plants or other property and equipment are retired or sold, any gain or loss is included in our consolidated statements of operations. Property, plant and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of long-lived assets is not recoverable, we reduce the carrying amount of such assets to fair value. In 2017, ETP recorded a $127 million fixed asset impairment related to Sea Robin primarily due to a reduction in expected future cash flows due to an increase during 2017 in insurance costs related to offshore assets. In 2016, ETP recorded a $133 million fixed asset impairment related to its interstate transportation and storage operations primarily due to expected decreases in future cash flows driven by declines in commodity prices as well as a $10 million impairment to property, plant and equipment in its midstream operations. In 2015, ETP recorded a $110 million fixed asset impairment related to its NGL and refined products transportation and services operations primarily due to an expected decrease in future cash flows. No other fixed asset impairments were identified or recorded for its reporting units during the periods presented. Capitalized interest is included for pipeline construction projects, except for certain interstate projects for which an allowance for funds used during construction (“AFUDC”) is accrued. Interest is capitalized based on the current borrowing rate of our revolving credit facilities when the related costs are incurred. AFUDC is calculated under guidelines prescribed by the FERC and capitalized as part of the cost of utility plant for interstate projects. It represents the cost of servicing the capital invested in construction work-in-process. AFUDC is segregated into two component parts – borrowed funds and equity funds. |
Equity and Cost Method Investments, Policy [Policy Text Block] | Advances to and Investments in Affiliates Certain of our subsidiaries own interests in a number of related businesses that are accounted for by the equity method. In general, we use the equity method of accounting for an investment for which we exercise significant influence over, but do not control, the investee’s operating and financial policies. |
Other Non-Current Assets, net | Other Non-Current Assets, net Other non-current assets, net are stated at cost less accumulated amortization. |
Intangible Assets | Intangible Assets Intangible assets are stated at cost, net of amortization computed on the straight-line method. The Partnership removes the gross carrying amount and the related accumulated amortization for any fully amortized intangibles in the year they are fully amortized. Components and useful lives of intangible assets were as follows: December 31, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer relationships, contracts and agreements (3 to 46 years) $ 6,979 $ (1,277 ) $ 6,050 $ (971 ) Trade names (20 years) 66 (25 ) 66 (22 ) Patents (10 years) 48 (26 ) 48 (21 ) Other (5 to 20 years) 28 (14 ) 25 (10 ) Total amortizable intangible assets 7,121 (1,342 ) 6,189 (1,024 ) Non-amortizable intangible assets: Trademarks 295 — 288 — Other 42 — 59 — Total intangible assets $ 7,458 $ (1,342 ) $ 6,536 $ (1,024 ) Aggregate amortization expense of intangibles assets was as follows: Years Ended December 31, 2017 2016 2015 Reported in depreciation, depletion and amortization $ 344 $ 264 $ 290 Estimated aggregate amortization expense of intangible assets for the next five years was as follows: Years Ending December 31: 2018 $ 341 2019 338 2020 336 2021 319 2022 287 We review amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of amortizable intangible assets is not recoverable, we reduce the carrying amount of such assets to fair value. We review non-amortizable intangible assets for impairment annually, or more frequently if circumstances dictate. Sunoco LP performed impairment tests on their indefinite-lived intangible assets during the fourth quarter of 2017 and recognized $13 million and $4 million impairment charge on their contractual rights and liquor licenses, included in Other in the table above, primarily due to decreases in projected future revenues and cash flows from the date the intangible asset was originally recorded. In 2015, ETP recorded $24 million of intangible asset impairments related to its NGL and retail products transportation and services operations primarily due to an expected decrease in future cash flows. |
Goodwill | Goodwill Goodwill is tested for impairment annually or more frequently if circumstances indicate that goodwill might be impaired. The annual impairment test is performed during the fourth quarter. Changes in the carrying amount of goodwill were as follows: Investment in ETP Investment in Sunoco LP Investment in Lake Charles LNG Corporate, Other and Eliminations Total Balance, December 31, 2015 $ 5,428 $ 1,694 $ 184 $ (1,250 ) $ 6,056 Goodwill acquired 428 81 — — 509 Sunoco LP Exchange (1,289 ) — — 1,289 — Goodwill impairment (670 ) (227 ) — — (897 ) Other — 2 — — 2 Balance, December 31, 2016 3,897 1,550 184 39 5,670 Goodwill acquired 12 — — — 12 Goodwill impairment (793 ) (102 ) — — (895 ) Other (1 ) (18 ) — — (19 ) Balance, December 31, 2017 $ 3,115 $ 1,430 $ 184 $ 39 $ 4,768 Goodwill is recorded at the acquisition date based on a preliminary purchase price allocation and generally may be adjusted when the purchase price allocation is finalized. During the fourth quarter of 2017, ETP recognized goodwill impairments of $262 million in its interstate transportation and storage operations, $79 million in its NGL and refined products transportation and services operations and $452 million in its all other operations primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. Sunoco LP recognized goodwill impairments of $387 million , of which $102 million was allocated to continuing operations, primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. During the fourth quarter of 2016, ETP recognized goodwill impairments of $638 million in its interstate transportation and storage operations and $32 million in its midstream operations primarily due to decreases in projected future revenues and cash flows driven by declines in commodity prices and changes in the markets that these assets serve. Sunoco LP recognized goodwill impairments of $641 million , of which $227 million was allocated to continuing operations, primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. During the fourth quarter of 2015, ETP recognized goodwill impairments of $99 million in its interstate transportation and storage operations and $106 million in its NGL and refined products transportation and services operations primarily due to market declines in current and expected future commodity prices in the fourth quarter of 2015. The Partnership determined the fair value of our reporting units using a weighted combination of the discounted cash flow method and the guideline company method. Determining the fair value of a reporting unit requires judgment and the use of significant estimates and assumptions. Such estimates and assumptions include revenue growth rates, operating margins, weighted average costs of capital and future market conditions, among others. The Partnership believes the estimates and assumptions used in our impairment assessments are reasonable and based on available market information, but variations in any of the assumptions could result in materially different calculations of fair value and determinations of whether or not an impairment is indicated. Under the discounted cash flow method, the Partnership determined fair value based on estimated future cash flows of each reporting unit including estimates for capital expenditures, discounted to present value using the risk-adjusted industry rate, which reflect the overall level of inherent risk of the reporting unit. Cash flow projections are derived from one year budgeted amounts and five year operating forecasts plus an estimate of later period cash flows, all of which are evaluated by management. Subsequent period cash flows are developed for each reporting unit using growth rates that management believes are reasonably likely to occur. Under the guideline company method, the Partnership determined the estimated fair value of each of our reporting units by applying valuation multiples of comparable publicly-traded companies to each reporting unit’s projected EBITDA and then averaging that estimate with similar historical calculations using a three year average. In addition, the Partnership estimated a reasonable control premium representing the incremental value that accrues to the majority owner from the opportunity to dictate the strategic and operational actions of the business. Asset Retirement Obligations We have determined that we are obligated by contractual or regulatory requirements to remove facilities or perform other remediation upon retirement of certain assets. The fair value of any ARO is determined based on estimates and assumptions related to retirement costs, which the Partnership bases on historical retirement costs, future inflation rates and credit-adjusted risk-free interest rates. These fair value assessments are considered to be Level 3 measurements, as they are based on both observable and unobservable inputs. Changes in the liability are recorded for the passage of time (accretion) or for revisions to cash flows originally estimated to settle the ARO. An ARO is required to be recorded when a legal obligation to retire an asset exists and such obligation can be reasonably estimated. We will record an asset retirement obligation in the periods in which management can reasonably estimate the settlement dates. Except for certain amounts discussed below, management was not able to reasonably measure the fair value of asset retirement obligations as of December 31, 2017 and 2016 , in most cases because the settlement dates were indeterminable. Although a number of other onshore assets in Panhandle’s system are subject to agreements or regulations that give rise to an ARO upon Panhandle’s discontinued use of these assets, AROs were not recorded because these assets have an indeterminate removal or abandonment date given the expected continued use of the assets with proper maintenance or replacement. Sunoco, Inc. has legal asset retirement obligations for several other assets at its previously owned refineries, pipelines and terminals, for which it is not possible to estimate when the obligations will be settled. Consequently, the retirement obligations for these assets cannot be measured at this time. At the end of the useful life of these underlying assets, Sunoco, Inc. is legally or contractually required to abandon in place or remove the asset. We believe we may have additional asset retirement obligations related to its pipeline assets and storage tanks, for which it is not possible to estimate whether or when the retirement obligations will be settled. Consequently, these retirement obligations cannot be measured at this time. As of December 31, 2017 and 2016, other non-current liabilities in ETP’s consolidated balance sheets included AROs of $165 million and $170 million , respectively. Individual component assets have been and will continue to be replaced, but the pipeline and the natural gas gathering and processing systems will continue in operation as long as supply and demand for natural gas exists. Based on the widespread use of natural gas in industrial and power generation activities, management expects supply and demand to exist for the foreseeable future. We have in place a rigorous repair and maintenance program that keeps the pipelines and the natural gas gathering and processing systems in good working order. Therefore, although some of the individual assets may be replaced, the pipelines and the natural gas gathering and processing systems themselves will remain intact indefinitely. Long-lived assets related to AROs aggregated to $2 million and $14 million , and were reflected as property, plant and equipment on our consolidated balance sheets as of December 31, 2017 and 2016 , respectively. In addition, the Partnership had $21 million and $13 million legally restricted funds for the purpose of settling AROs that was reflected as other non-current assets as of December 31, 2017 and 2016 , respectively. All amounts recorded in our consolidated balance sheets as of December 31, 2017 and 2016 are attributab |
Asset Retirement Obligation | Asset Retirement Obligations We have determined that we are obligated by contractual or regulatory requirements to remove facilities or perform other remediation upon retirement of certain assets. The fair value of any ARO is determined based on estimates and assumptions related to retirement costs, which the Partnership bases on historical retirement costs, future inflation rates and credit-adjusted risk-free interest rates. These fair value assessments are considered to be Level 3 measurements, as they are based on both observable and unobservable inputs. Changes in the liability are recorded for the passage of time (accretion) or for revisions to cash flows originally estimated to settle the ARO. An ARO is required to be recorded when a legal obligation to retire an asset exists and such obligation can be reasonably estimated. We will record an asset retirement obligation in the periods in which management can reasonably estimate the settlement dates. Except for certain amounts discussed below, management was not able to reasonably measure the fair value of asset retirement obligations as of December 31, 2017 and 2016 , in most cases because the settlement dates were indeterminable. Although a number of other onshore assets in Panhandle’s system are subject to agreements or regulations that give rise to an ARO upon Panhandle’s discontinued use of these assets, AROs were not recorded because these assets have an indeterminate removal or abandonment date given the expected continued use of the assets with proper maintenance or replacement. Sunoco, Inc. has legal asset retirement obligations for several other assets at its previously owned refineries, pipelines and terminals, for which it is not possible to estimate when the obligations will be settled. Consequently, the retirement obligations for these assets cannot be measured at this time. At the end of the useful life of these underlying assets, Sunoco, Inc. is legally or contractually required to abandon in place or remove the asset. We believe we may have additional asset retirement obligations related to its pipeline assets and storage tanks, for which it is not possible to estimate whether or when the retirement obligations will be settled. Consequently, these retirement obligations cannot be measured at this time. As of December 31, 2017 and 2016, other non-current liabilities in ETP’s consolidated balance sheets included AROs of $165 million and $170 million , respectively. Individual component assets have been and will continue to be replaced, but the pipeline and the natural gas gathering and processing systems will continue in operation as long as supply and demand for natural gas exists. Based on the widespread use of natural gas in industrial and power generation activities, management expects supply and demand to exist for the foreseeable future. We have in place a rigorous repair and maintenance program that keeps the pipelines and the natural gas gathering and processing systems in good working order. Therefore, although some of the individual assets may be replaced, the pipelines and the natural gas gathering and processing systems themselves will remain intact indefinitely. |
Accrued and Other Current Liabilities Policy [Text Block] | Deposits or advances are received from customers as prepayments for natural gas deliveries in the following month. Prepayments and security deposits may also be required when customers exceed their credit limits or do not qualify for open credit. |
Redeemable Noncontrolling Interest [Text Block] | Redeemable Noncontrolling Interests The noncontrolling interest holders in one of ETP’s consolidated subsidiaries have the option to sell their interests to ETP. In accordance with applicable accounting guidance, the noncontrolling interest is excluded from total equity and reflected as redeemable interest on our consolidated balance sheet. |
Environmental Costs, Policy [Policy Text Block] | Environmental Remediation We accrue environmental remediation costs for work at identified sites where an assessment has indicated that cleanup costs are probable and reasonably estimable. Such accruals are undiscounted and are based on currently available information, estimated timing of remedial actions and related inflation assumptions, existing technology and presently enacted laws and regulations. If a range of probable environmental cleanup costs exists for an identified site, the minimum of the range is accrued unless some other point in the range is more likely in which case the most likely amount in the range is accrued. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value. Based on the estimated borrowing rates currently available to us and our subsidiaries for loans with similar terms and average maturities, the aggregate fair value and carrying amount of our consolidated debt obligations as of December 31, 2017 was $45.62 billion and $44.08 billion , respectively. As of December 31, 2016 , the aggregate fair value and carrying amount of our consolidated debt obligations was $45.05 billion and $43.80 billion , respectively. The fair value of our consolidated debt obligations is a Level 2 valuation based on the observable inputs used for similar liabilities. |
Contributions In Aid Of Construction Costs Policy Text Block | Contributions in Aid of Construction Cost On certain of our capital projects, third parties are obligated to reimburse us for all or a portion of project expenditures. The majority of such arrangements are associated with pipeline construction and production well tie-ins. Contributions in aid of construction costs (“CIAC”) are netted against our project costs as they are received, and any CIAC which exceeds our total project costs, is recognized as other income in the period in which it is realized. |
Shipping and Handling Costs | Shipping and Handling Costs Shipping and handling costs are included in cost of products sold, except for shipping and handling costs related to fuel consumed for compression and treating which are included in operating expenses. |
Costs and Expenses | Costs and Expenses Costs of products sold include actual cost of fuel sold, adjusted for the effects of hedging and other commodity derivative activities, and the cost of appliances, parts and fittings. Operating expenses include all costs incurred to provide products to customers, including compensation for operations personnel, insurance costs, vehicle maintenance, advertising costs, purchasing costs and plant operations. Selling, general and administrative expenses include all partnership related expenses and compensation for executive, partnership, and administrative personnel. We record the collection of taxes to be remitted to governmental authorities on a net basis except for our retail marketing operations in which consumer excise taxes on sales of refined products and merchandise are included in both revenues and costs and expenses in the consolidated statements of operations, with no effect on net income (loss). Excise taxes collected by Sunoco LP’s retail locations where Sunoco LP holds the inventory were $234 million , $243 million and $231 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. |
Issuances of Subsidiary Units | Issuances of Subsidiary Units We record changes in our ownership interest of our subsidiaries as equity transactions, with no gain or loss recognized in consolidated net income or comprehensive income. For example, upon our subsidiaries’ issuance of common units in a public offering, we record any difference between the amount of consideration received or paid and the amount by which the noncontrolling interest is adjusted as a change in partners’ capital. |
Income Taxes | Income Taxes ETE is a publicly traded limited partnership and is not taxable for federal and most state income tax purposes. As a result, our earnings or losses, to the extent not included in a taxable subsidiary, for federal and state income tax purposes are included in the tax returns of the individual partners. Net earnings for financial statement purposes may differ significantly from taxable income reportable to Unitholders as a result of differences between the tax basis and financial reporting basis of assets and liabilities, in addition to the allocation requirements related to taxable income under our Third Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”). As a publicly traded limited partnership, we are subject to a statutory requirement that our “qualifying income” (as defined by the Internal Revenue Code, related Treasury Regulations, and IRS pronouncements) exceed 90% of our total gross income, determined on a calendar year basis. If our qualifying income does not meet this statutory requirement, we would be taxed as a corporation for federal and state income tax purposes. For the years ended December 31, 2017, 2016, and 2015 , our qualifying income met the statutory requirement. The Partnership conducts certain activities through corporate subsidiaries which are subject to federal, state and local income taxes. These corporate subsidiaries include ETP Holdco, Inland Corporation, Oasis Pipeline Company, Susser Petroleum Property Company, Aloha Petroleum and Susser Holding Corporation. The Partnership and its corporate subsidiaries account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in earnings in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not to be realized. The determination of the provision for income taxes requires significant judgment, use of estimates, and the interpretation and application of complex tax laws. Significant judgment is required in assessing the timing and amounts of deductible and taxable items and the probability of sustaining uncertain tax positions. The benefits of uncertain tax positions are recorded in our financial statements only after determining a more-likely-than-not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes through the provision for income taxes. |
Accounting for Derivative Instruments and Hedging Activities | Accounting for Derivative Instruments and Hedging Activities For qualifying hedges, we formally document, designate and assess the effectiveness of transactions that receive hedge accounting treatment and the gains and losses offset related results on the hedged item in the statement of operations. The market prices used to value our financial derivatives and related transactions have been determined using independent third-party prices, readily available market information, broker quotes and appropriate valuation techniques. At inception of a hedge, we formally document the relationship between the hedging instrument and the hedged item, the risk management objectives, and the methods used for assessing and testing effectiveness and how any ineffectiveness will be measured and recorded. We also assess, both at the inception of the hedge and on a quarterly basis, whether the derivatives that are used in our hedging transactions are highly effective in offsetting changes in cash flows. If we determine that a derivative is no longer highly effective as a hedge, we discontinue hedge accounting prospectively by including changes in the fair value of the derivative in net income for the period. If we designate a commodity hedging relationship as a fair value hedge, we record the changes in fair value of the hedged asset or liability in cost of products sold in the consolidated statement of operations. This amount is offset by the changes in fair value of the related hedging instrument. Any ineffective portion or amount excluded from the assessment of hedge ineffectiveness is also included in the cost of products sold in the consolidated statement of operations. Cash flows from derivatives accounted for as cash flow hedges are reported as cash flows from operating activities, in the same category as the cash flows from the items being hedged. If we designate a derivative financial instrument as a cash flow hedge and it qualifies for hedge accounting, a change in the fair value is deferred in AOCI until the underlying hedged transaction occurs. Any ineffective portion of a cash flow hedge’s change in fair value is recognized each period in earnings. Gains and losses deferred in AOCI related to cash flow hedges remain in AOCI until the underlying physical transaction occurs, unless it is probable that the forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter. For financial derivative instruments that do not qualify for hedge accounting, the change in fair value is recorded in cost of products sold in the consolidated statements of operations. We previously have managed a portion of our interest rate exposures by utilizing interest rate swaps and similar instruments. For interest rate derivatives accounted for as either cash flow or fair value hedges, we report realized gains and losses and ineffectiveness portions of those hedges in interest expense. For interest rate derivatives not designated as hedges for accounting purposes, we report realized and unrealized gains and losses on those derivatives in “Gains (losses) on interest rate derivatives” in the consolidated statements of operations. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Unit-Based Compensation For awards of restricted units, we recognize compensation expense over the vesting period based on the grant-date fair value, which is determined based on the market price of our common units on the grant date. For awards of cash restricted units, we remeasure the fair value of the award at the end of each reporting period based on the market price of our common units as of the reporting date, and the fair value is recorded in other non-current liabilities on our consolidated balance sheets. |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Pensions and Other Postretirement Benefit Plans ETP recognizes the overfunded or underfunded status of defined benefit pension and other postretirement plans, measured as the difference between the fair value of the plan assets and the benefit obligation (the projected benefit obligation for pension plans and the accumulated postretirement benefit obligation for other postretirement plans). Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability. Changes in the funded status of the plan are recorded in the year in which the change occurs within AOCI in equity or, for entities applying regulatory accounting, as a regulatory asset or regulatory liability. |
Allocation of Income (Loss) | Allocation of Income For purposes of maintaining partner capital accounts, our Partnership Agreement specifies that items of income and loss shall generally be allocated among the partners in accordance with their percentage interests. |
Estimates, Significant Accoun26
Estimates, Significant Accounting Policies and Balance Sheet Detail (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Schedule of Change in Accounting Estimate [Table Text Block] | Change in Accounting Policy During the fourth quarter of 2017, ETP elected to change its method of inventory costing to weighted-average cost for certain inventory that had previously been accounted for using the last-in, first-out (“LIFO”) method. The inventory impacted by this change included the crude oil, refined product and NGL associated with the legacy Sunoco Logistics business. ETP’s management believes that the weighted-average cost method is preferable to the LIFO method as it more closely aligns the accounting policies across the consolidated entity, given that the legacy ETP inventory has been accounted for using the weighted-average cost method. As a result of this change in accounting policy, prior periods have been retrospectively adjusted, as follows: Year Ended December 31, 2016 Year Ended December 31, 2015 As Originally Reported* Effect of Change As Adjusted As Originally Reported* Effect of Change As Adjusted Consolidated Statement of Operations and Comprehensive Income: Cost of products sold $ 23,652 $ 41 $ 23,693 $ 28,636 $ 32 $ 28,668 Operating income 1,884 (41 ) 1,843 2,319 (32 ) 2,287 Income from continuing operations before income tax benefit 245 (41 ) 204 932 (32 ) 900 Net income 41 (41 ) — 1,093 (32 ) 1,061 Net income (loss) attributable to noncontrolling interest (954 ) (41 ) (995 ) (96 ) (32 ) (128 ) Comprehensive income 45 (41 ) 4 1,153 (32 ) 1,121 Consolidated Statements of Cash Flows: Net income 41 (41 ) — 1,093 (32 ) 1,061 Inventory valuation adjustments (267 ) 170 (97 ) 229 (162 ) 67 Net change in operating assets and liabilities (change in inventories) (50 ) (129 ) (179 ) (1,066 ) 194 (872 ) Consolidated Balance Sheets (at period end): Inventories 2,141 (86 ) 2,055 1,498 (45 ) 1,453 Noncontrolling interest 24,211 (86 ) 24,125 24,530 (45 ) 24,485 |
Schedule Of Net Changes In Operating Assets And Liabilities Included Cash Flows From Operating Activities | The net change in operating assets and liabilities (net of effects of acquisitions, dispositions and deconsolidation) included in cash flows from operating activities was comprised as follows: Years Ended December 31, 2017 2016 2015 Accounts receivable $ (948 ) $ (1,126 ) $ 856 Accounts receivable from related companies 24 42 (5 ) Inventories 58 (480 ) (212 ) Other current assets 38 165 (225 ) Other non-current assets, net 84 (148 ) 247 Accounts payable 712 1,170 (1,070 ) Accounts payable to related companies (178 ) (64 ) 400 Accrued and other current liabilities (97 ) 89 (697 ) Other non-current liabilities 106 106 (241 ) Derivative assets and liabilities, net 9 67 75 Net change in operating assets and liabilities, net of effects of acquisitions $ (192 ) $ (179 ) $ (872 ) |
Schedule Of Non-Cash Investing And Financing Activities | Non-cash investing and financing activities and supplemental cash flow information were as follows: Years Ended December 31, 2017 2016 2015 NON-CASH INVESTING ACTIVITIES: Accrued capital expenditures $ 1,060 $ 848 $ 910 Net gains (losses) from subsidiary common unit transactions (56 ) 16 (526 ) NON-CASH FINANCING ACTIVITIES: Issuance of Common Units in connection with the PennTex Acquisition $ — $ 307 $ — Contribution of assets from noncontrolling interest 988 — 34 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest, net of interest capitalized $ 1,914 $ 1,922 $ 1,800 Cash paid for (refund of) income taxes 50 (229 ) 72 |
Schedule of Inventory | Inventories consisted of the following: December 31, 2017 2016 Natural gas, NGLs, and refined products $ 1,120 $ 1,141 Crude oil 551 651 Spare parts and other 351 263 Total inventories $ 2,022 $ 2,055 |
Other Current Assets | Other current assets consisted of the following: December 31, 2017 2016 Deposits paid to vendors $ 64 $ 74 Prepaid expenses and other 231 373 Total other current assets $ 295 $ 447 |
Property, Plant and Equipment | Components and useful lives of property, plant and equipment were as follows: December 31, 2017 2016 Land and improvements $ 2,222 $ 1,189 Buildings and improvements (1 to 45 years) 2,786 2,247 Pipelines and equipment (5 to 83 years) 44,673 36,570 Natural gas and NGL storage facilities (5 to 46 years) 1,681 1,451 Bulk storage, equipment and facilities (2 to 83 years) 3,883 3,701 Vehicles (1 to 25 years) 126 217 Right of way (20 to 83 years) 3,432 3,349 Natural resources 434 434 Other (1 to 40 years) 1,029 2,285 Construction work-in-process 10,911 10,119 71,177 61,562 Less – Accumulated depreciation and depletion (10,089 ) (7,984 ) Property, plant and equipment, net $ 61,088 $ 53,578 |
Schedule Of Property, Plant And Equipment Depreciation And Capitalized Interest Expense | We recognized the following amounts for the periods presented: Years Ended December 31, 2017 2016 2015 Depreciation and depletion expense $ 2,204 $ 1,952 $ 1,661 Capitalized interest 286 201 164 |
Schedule of Other Non-Current Assets, net | Other non-current assets, net are stated at cost less accumulated amortization. Other non-current assets, net consisted of the following: December 31, 2017 2016 Regulatory assets 85 86 Deferred charges 210 217 Restricted funds 192 190 Other 399 322 Total other non-current assets, net $ 886 $ 815 |
Components And Useful Lives Of Intangibles And Other Assets | Components and useful lives of intangible assets were as follows: December 31, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer relationships, contracts and agreements (3 to 46 years) $ 6,979 $ (1,277 ) $ 6,050 $ (971 ) Trade names (20 years) 66 (25 ) 66 (22 ) Patents (10 years) 48 (26 ) 48 (21 ) Other (5 to 20 years) 28 (14 ) 25 (10 ) Total amortizable intangible assets 7,121 (1,342 ) 6,189 (1,024 ) Non-amortizable intangible assets: Trademarks 295 — 288 — Other 42 — 59 — Total intangible assets $ 7,458 $ (1,342 ) $ 6,536 $ (1,024 ) |
Aggregate Amortization Expense Of Intangibles And Other Assets | Aggregate amortization expense of intangibles assets was as follows: Years Ended December 31, 2017 2016 2015 Reported in depreciation, depletion and amortization $ 344 $ 264 $ 290 |
Estimated Aggregate Amortization Expense | Estimated aggregate amortization expense of intangible assets for the next five years was as follows: Years Ending December 31: 2018 $ 341 2019 338 2020 336 2021 319 2022 287 |
Schedule of Goodwill | Changes in the carrying amount of goodwill were as follows: Investment in ETP Investment in Sunoco LP Investment in Lake Charles LNG Corporate, Other and Eliminations Total Balance, December 31, 2015 $ 5,428 $ 1,694 $ 184 $ (1,250 ) $ 6,056 Goodwill acquired 428 81 — — 509 Sunoco LP Exchange (1,289 ) — — 1,289 — Goodwill impairment (670 ) (227 ) — — (897 ) Other — 2 — — 2 Balance, December 31, 2016 3,897 1,550 184 39 5,670 Goodwill acquired 12 — — — 12 Goodwill impairment (793 ) (102 ) — — (895 ) Other (1 ) (18 ) — — (19 ) Balance, December 31, 2017 $ 3,115 $ 1,430 $ 184 $ 39 $ 4,768 |
Accrued and Other Current Liabilities | Accrued and other current liabilities consisted of the following: December 31, 2017 2016 Interest payable $ 552 $ 545 Customer advances and deposits 59 72 Accrued capital expenditures 1,006 769 Accrued wages and benefits 280 254 Taxes payable other than income taxes 108 201 Income taxes payable 180 — Exchanges payable 154 208 Other 243 318 Total accrued and other current liabilities $ 2,582 $ 2,367 |
Fair Value Of Financial Assets And Liabilities Measured On Recurring Basis | The following tables summarize the fair value of our financial assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2017 and 2016 based on inputs used to derive their fair values: Fair Value Measurements at December 31, 2017 Fair Value Total Level 1 Level 2 Assets: Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX $ 11 $ 11 $ — Swing Swaps IFERC 13 — 13 Fixed Swaps/Futures 70 70 — Forward Physical Swaps 8 — 8 Power — Forwards 23 — 23 Natural Gas Liquids — Forwards/Swaps 193 193 — Refined Products – Futures 1 1 — Crude – Futures 2 2 — Total commodity derivatives 321 277 44 Other non-current assets 21 14 7 Total assets $ 342 $ 291 $ 51 Liabilities: Interest rate derivatives $ (219 ) $ — $ (219 ) Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX (24 ) (24 ) — Swing Swaps IFERC (15 ) (1 ) (14 ) Fixed Swaps/Futures (57 ) (57 ) — Forward Physical Swaps (2 ) — (2 ) Power — Forwards (22 ) — (22 ) Natural Gas Liquids — Forwards/Swaps (192 ) (192 ) Refined Products – Futures (28 ) (28 ) — Crude — Futures (1 ) (1 ) — Total commodity derivatives (341 ) (303 ) (38 ) Total liabilities $ (560 ) $ (303 ) $ (257 ) Fair Value Measurements at December 31, 2016 Fair Value Total Level 1 Level 2 Level 3 Assets: Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX $ 14 $ 14 $ — $ — Swing Swaps IFERC 2 — 2 — Fixed Swaps/Futures 96 96 — — Forward Physical Contracts 1 — 1 — Power: Forwards 4 — 4 — Futures 1 1 — — Options — Calls 1 1 — — Natural Gas Liquids — Forwards/Swaps 233 233 — — Refined Products – Futures 2 2 — — Crude – Futures 9 9 — — Total commodity derivatives 363 356 7 — Other non-current assets 13 8 5 — Total assets $ 376 $ 364 $ 12 $ — Liabilities: Interest rate derivatives $ (193 ) $ — $ (193 ) $ — Embedded derivatives in the ETP Convertible Preferred Units (1 ) — — (1 ) Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX (11 ) (11 ) — — Swing Swaps IFERC (3 ) — (3 ) — Fixed Swaps/Futures (149 ) (149 ) — — Power: Forwards (5 ) (5 ) — Futures (1 ) (1 ) — — Natural Gas Liquids — Forwards/Swaps (273 ) (273 ) — — Refined Products – Futures (23 ) (23 ) — — Crude — Futures (13 ) (13 ) — — Total commodity derivatives (478 ) (470 ) (8 ) — Total liabilities $ (672 ) $ (470 ) $ (201 ) $ (1 ) |
Acquisitions and Related Tran27
Acquisitions and Related Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following tables present the aggregate carrying amounts of assets and liabilities classified as held for sale in the consolidated balance sheet: December 31, 2017 December 31, 2016 Carrying amount of assets included as part of discontinued operations: Accounts receivable, net $ 21 $ 16 Inventories 149 150 Other current assets 16 11 Property and equipment, net 1,851 1,860 Goodwill 796 1,068 Intangible assets, net 477 480 Other noncurrent assets 3 3 Total assets classified as held for sale in the Consolidated Balance Sheet $ 3,313 $ 3,588 Carrying amount of liabilities included as part of discontinued operations: Other current and noncurrent liabilities $ 75 $ 48 Total liabilities classified as held for sale in the Consolidated Balance Sheet $ 75 $ 48 The results of operations associated with discontinued operations are presented in the following table: Years Ended December 31, 2017 2016 2015 REVENUES $ 6,964 $ 5,712 $ 6,030 COSTS AND EXPENSES Cost of products sold 5,806 4,649 5,026 Operating expenses 763 744 705 Depreciation, depletion and amortization 34 143 128 Selling, general and administrative 168 114 91 Impairment losses 285 447 — Total costs and expenses 7,056 6,097 5,950 OPERATING INCOME (92 ) (385 ) 80 Interest expense, net 36 28 21 Other, net 1 8 (2 ) INCOME (LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE (129 ) (421 ) 61 Income tax expense 48 41 23 INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES $ (177 ) $ (462 ) $ 38 INCOME (LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE (BENEFIT) ATTRIBUTABLE TO ETE $ (6 ) $ (12 ) $ 1 |
PennTex [Member] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The total purchase price was allocated as follows: At November 1, 2016 Total current assets $ 34 Property, plant and equipment 393 Goodwill (1) 177 Intangible assets 446 1,050 Total current liabilities 6 Long-term debt, less current maturities 164 Other non-current liabilities 17 Noncontrolling interest 236 423 Total consideration 627 Cash received 21 Total consideration, net of cash received $ 606 (1) None of the goodwill is expected to be deductible for tax purposes. |
Advances to and Investments i28
Advances to and Investments in Unconsolidated Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investment In Affiliates [Abstract] | |
Schedule Of Aggregated Selected Balance Sheet And Income Statement Data For Our Unconsolidated Affiliates | The carrying values of the Partnership’s investments in unconsolidated affiliates as of December 31, 2017 and 2016 , were as follows: December 31, 2017 2016 Citrus $ 1,754 $ 1,729 FEP 121 101 MEP 242 318 HPC 28 382 Others 560 510 Total $ 2,705 $ 3,040 Summarized Financial Information The following tables present aggregated selected balance sheet and income statement data for our unconsolidated affiliates, including Citrus, FEP, HPC and MEP (on a 100% basis) for all periods presented: December 31, 2017 2016 Current assets $ 206 $ 214 Property, plant and equipment, net 8,336 8,726 Other assets 43 181 Total assets $ 8,585 $ 9,121 Current liabilities $ 861 $ 816 Non-current liabilities 4,492 4,940 Equity 3,232 3,365 Total liabilities and equity $ 8,585 $ 9,121 Years Ended December 31, 2017 2016 2015 Revenue $ 1,358 $ 1,164 $ 1,385 Operating income 407 714 800 Net income 145 384 470 In addition to the equity method investments described above our subsidiaries have other equity method investments which are not significant to our consolidated financial statements. |
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block] | The following table presents equity in earnings (losses) of unconsolidated affiliates: December 31, Equity in earnings (losses) of unconsolidated affiliates: 2017 2016 2015 Citrus $ 144 $ 102 $ 97 FEP 53 51 55 MEP 38 40 45 HPC (1) (168 ) 31 32 Others 77 46 47 Total $ 144 $ 270 $ 276 (1) For the year ended December 31, 2017 , equity in earnings (losses) of unconsolidated affiliates includes the impact of non-cash impairments recorded by HPC, which reduced the Partnership’s equity in earnings by $185 million . |
Net Income Per Limited Partne29
Net Income Per Limited Partner Unit (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Reconciliation Of Net Income (Loss) And Weighted Average Units | A reconciliation of net income and weighted average units used in computing basic and diluted net income per unit is as follows: Years Ended December 31, 2017 2016 2015 Income from continuing operations $ 2,543 $ 462 $ 1,023 Less: Income (loss) from continuing operations attributable to noncontrolling interest 1,583 (545 ) (165 ) Income from continuing operations, net of noncontrolling interest 960 1,007 1,188 Less: General Partner’s interest in income from continuing operations 2 3 3 Less: Convertible Unitholders’ interest in net income from continuing operations 38 8 — Less: Class D Unitholder’s interest in income from continuing operations — — 3 Income from continuing operations available to Limited Partners $ 920 $ 996 $ 1,182 Basic Income from Continuing Operations per Limited Partner Unit: Weighted average limited partner units 1,078.2 1,045.5 1,062.8 Basic income from continuing operations per Limited Partner unit $ 0.86 $ 0.95 $ 1.11 Basic income (loss) from discontinued operations per Limited Partner unit $ (0.01 ) $ (0.01 ) $ — Diluted Income from Continuing Operations per Limited Partner Unit: Income from continuing operations available to Limited Partners $ 920 $ 996 $ 1,182 Dilutive effect of equity-based compensation of subsidiaries, distributions to Class D Unitholder and Convertible Units 38 8 3 Diluted income from continuing operations available to Limited Partners 958 1,004 1,185 Weighted average limited partner units 1,078.2 1,045.5 1,062.8 Dilutive effect of unconverted unit awards and Convertible Units 72.6 33.1 1.6 Weighted average limited partner units, assuming dilutive effect of unvested unit awards 1,150.8 1,078.6 1,064.4 Diluted income from continuing operations per Limited Partner unit $ 0.84 $ 0.93 $ 1.11 Diluted income (loss) from discontinued operations per Limited Partner unit $ (0.01 ) $ (0.01 ) $ — |
Debt Obligations Debt Obligatio
Debt Obligations Debt Obligations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Obligations [Abstract] | |
Schedule of debt obligations | Our debt obligations consist of the following: December 31, 2017 2016 Parent Company Indebtedness: 7.50% Senior Notes due October 15, 2020 $ 1,187 $ 1,187 5.875% Senior Notes due January 15, 2024 1,150 1,150 5.50% Senior Notes due June 1, 2027 1,000 1,000 4.25% Senior Notes due March 15, 2023 1,000 — ETE Senior Secured Term Loan due December 2, 2019 — 2,190 ETE Senior Secured Term Loan due February 2, 2024 1,220 — ETE Senior Secured Revolving Credit Facility due December 18, 2018 — 875 ETE Senior Secured Revolving Credit Facility due March 24, 2022 1,188 — Unamortized premiums, discounts and fair value adjustments, net (11 ) (15 ) Deferred debt issuance costs (34 ) (30 ) 6,700 6,357 Subsidiary Indebtedness: ETP Debt 6.125% Senior Notes due February 15, 2017 — 400 2.50% Senior Notes due June 15, 2018 (1) 650 650 6.70% Senior Notes due July 1, 2018 (1) 600 600 9.70% Senior Notes due March 15, 2019 400 400 9.00% Senior Notes due April 15, 2019 450 450 5.50% Senior Notes due February 15, 2020 250 250 5.75% Senior Notes due September 1, 2020 400 400 4.15% Senior Notes due October 1, 2020 1,050 1,050 4.40% Senior Notes due April 1, 2021 600 600 6.50% Senior Notes due July 15, 2021 — 500 4.65% Senior Notes due June 1, 2021 800 800 5.20% Senior Notes due February 1, 2022 1,000 1,000 4.65% Senior Notes due February 15, 2022 300 300 5.875% Senior Notes due March 1, 2022 900 900 5.00% Senior Notes due October 1, 2022 700 700 3.45% Senior Notes due January 15, 2023 350 350 3.60% Senior Notes due February 1, 2023 800 800 5.50% Senior Notes due April 15, 2023 — 700 4.50% Senior Notes due November 1, 2023 600 600 4.90% Senior Notes due February 1, 2024 350 350 7.60% Senior Notes due February 1, 2024 277 277 4.25% Senior Notes due April 1, 2024 500 500 9.00% Debentures due November 1, 2024 65 65 4.05% Senior Notes due March 15, 2025 1,000 1,000 5.95% Senior Notes due December 1, 2025 400 400 4.75% Senior Notes due January 15, 2026 1,000 1,000 3.90% Senior Notes due July 15, 2026 550 550 4.20% Senior Notes due April 15, 2027 600 — 4.00% Senior Notes due October 1, 2027 750 — 8.25% Senior Notes due November 15, 2029 267 267 4.90% Senior Notes due March 15, 2035 500 500 6.625% Senior Notes due October 15, 2036 400 400 7.50% Senior Notes due July 1, 2038 550 550 6.85% Senior Notes due February 15, 2040 250 250 6.05% Senior Notes due June 1, 2041 700 700 6.50% Senior Notes due February 1, 2042 1,000 1,000 6.10% Senior Notes due February 15, 2042 300 300 4.95% Senior Notes due January 15, 2043 350 350 5.15% Senior Notes due February 1, 2043 450 450 5.95% Senior Notes due October 1, 2043 450 450 5.30% Senior Notes due April 1, 2044 700 700 5.15% Senior Notes due March 15, 2045 1,000 1,000 5.35% Senior Notes due May 15, 2045 800 800 6.125% Senior Notes due December 15, 2045 1,000 1,000 5.30% Senior Notes due April 15, 2047 900 — 5.40% Senior Notes due October 1, 2047 1,500 — Floating Rate Junior Subordinated Notes due November 1, 2066 546 546 ETP $4.0 billion Revolving Credit Facility due December 2022 2,292 — ETP $1.0 billion 364-Day Credit Facility due November 2018 (2) 50 — ETLP $3.75 billion Revolving Credit Facility due November 2019 — 2,777 Legacy Sunoco Logistics $2.50 billion Revolving Credit Facility due March 2020 — 1,292 Legacy Sunoco Logistics $1.0 billion 364-Day Credit Facility due December 2017 — 630 Unamortized premiums, discounts and fair value adjustments, net 33 66 Deferred debt issuance costs (170 ) (166 ) 29,210 29,454 Transwestern Debt 5.64% Senior Notes due May 24, 2017 — 82 5.36% Senior Notes due December 9, 2020 175 175 5.89% Senior Notes due May 24, 2022 150 150 5.66% Senior Notes due December 9, 2024 175 175 6.16% Senior Notes due May 24, 2037 75 75 Deferred debt issuance costs (1 ) (1 ) 574 656 Panhandle Debt 6.20% Senior Notes due November 1, 2017 — 300 7.00% Senior Notes due June 15, 2018 400 400 8.125% Senior Notes due June 1, 2019 150 150 7.60% Senior Notes due February 1, 2024 82 82 7.00% Senior Notes due July 15, 2029 66 66 8.25% Senior Notes due November 14, 2029 33 33 Floating Rate Junior Subordinated Notes due November 1, 2066 54 54 Unamortized premiums, discounts and fair value adjustments, net 28 50 813 1,135 Sunoco, Inc. Debt 5.75% Senior Notes due January 15, 2017 — 400 Bakken Project Debt Bakken Project $2.50 billion Credit Facility due August 2019 2,500 1,100 Deferred debt issuance costs (8 ) (13 ) 2,492 1,087 PennTex Debt PennTex $275 million Revolving Credit Facility due December 2019 — 168 Sunoco LP Debt 5.50% Senior Notes due August 1, 2020 600 600 6.375% Senior Notes due April 1, 2023 800 800 6.25% Senior Notes due April 15, 2021 800 800 Sunoco LP $1.50 billion Revolving Credit Facility due September 25, 2019 765 1,000 Sunoco LP Term Loan due October 1, 2019 1,243 1,243 Lease-related obligations 113 118 Deferred debt issuance costs (34 ) (47 ) 4,287 4,514 Other 8 31 Total debt 44,084 43,802 Less: current maturities of long-term debt 413 1,194 Long-term debt, less current maturities $ 43,671 $ 42,608 (1) As of December 31, 2017 ETP’s management had the intent and ability to refinance the $650 million 2.50% senior notes due June 15, 2018 and the $600 million 6.70% senior notes due July 1, 2018, and therefore neither was classified as current. |
Future maturities of long-term debt | The following table reflects future maturities of long-term debt for each of the next five years and thereafter. These amounts exclude $197 million in unamortized premiums, fair value adjustments and deferred debt issuance costs, net: 2018 $ 1,705 2019 5,512 2020 3,667 2021 2,205 2022 6,540 Thereafter 24,652 Total $ 44,281 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Future Relinquishments of Incentive Distribution Rights [Table Text Block] | In connection with previous transactions, we have agreed to relinquish its right to the following amounts of incentive distributions in future periods: Total Year 2018 $ 153 2019 128 Each year beyond 2019 33 |
Change In ETE Common Units | The change in ETE Common Units during the years ended December 31, 2017 , 2016 and 2015 was as follows: Years Ended December 31, 2017 2016 2015 Number of Common Units, beginning of period 1,046.9 1,044.8 1,077.5 Conversion of Class D Units to ETE Common Units — — 0.9 Repurchase of common units under buyback program — — (33.6 ) Issuance of common units 32.2 2.1 — Number of Common Units, end of period 1,079.1 1,046.9 1,044.8 ETE Equity Distribution Agreement In March 2017, the Partnership entered into an equity distribution agreement with an aggregate offering price up to $1 billion. There was no activity under the distribution agreements for the year ended December 31, 2017 . ETE Series A Convertible Preferred Units Years Ended December 31, 2017 2016 2015 Number of Series A Convertible Preferred Units, beginning of period 329.3 — — Issuance of Series A Convertible Preferred Units — 329.3 — Number of Series A Convertible Preferred Units, end of period 329.3 329.3 — |
Accumulated Other Comprehensive Income (Loss) | The following table presents the components of AOCI, net of tax: December 31, 2017 2016 Available-for-sale securities $ 8 $ 2 Foreign currency translation adjustment (5 ) (5 ) Actuarial gain (loss) related to pensions and other postretirement benefits (5 ) 7 Investments in unconsolidated affiliates, net 5 4 Subtotal 3 8 Amounts attributable to noncontrolling interest (3 ) (8 ) Total AOCI included in partners’ capital, net of tax $ — $ — |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The table below sets forth the tax amounts included in the respective components of other comprehensive income (loss): December 31, 2017 2016 Available-for-sale securities $ (2 ) $ (2 ) Foreign currency translation adjustment 3 3 Actuarial loss relating to pension and other postretirement benefits 3 — Total $ 4 $ 1 |
Parent Company [Member] | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | Our distributions declared and paid with respect to our common units for the periods presented were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2014 February 6, 2015 February 19, 2015 0.2250 March 31, 2015 May 8, 2015 May 19, 2015 0.2450 June 30, 2015 August 6, 2015 August 19, 2015 0.2650 September 30, 2015 November 5, 2015 November 19, 2015 0.2850 December 31, 2015 February 4, 2016 February 19, 2016 0.2850 March 31, 2016 (1) May 6, 2016 May 19, 2016 0.2850 June 30, 2016 (1) August 8, 2016 August 19, 2016 0.2850 September 30, 2016 (1) November 7, 2016 November 18, 2016 0.2850 December 31, 2016 (1) February 7, 2017 February 21, 2017 0.2850 March 31, 2017 (1) May 10, 2017 May 19, 2017 0.2850 June 30, 2017 (1) August 7, 2017 August 21, 2017 0.2850 September 30, 2017 (1) November 7, 2017 November 20, 2017 0.2950 December 31, 2017 (1) February 8, 2018 February 20, 2018 0.3050 |
ETP [Member] | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | Distributions on common units declared and paid by ETP and Sunoco Logistics during the pre-merger periods were as follows: Quarter Ended ETP Sunoco Logistics December 31, 2014 $ 0.6633 $ 0.4000 March 31, 2015 0.6767 0.4190 June 30, 2015 0.6900 0.4380 September 30, 2015 0.7033 0.4580 December 31, 2015 0.7033 0.4790 March 31, 2016 0.7033 0.4890 June 30, 2016 0.7033 0.5000 September 30, 2016 0.7033 0.5100 December 31, 2016 0.7033 0.5200 Distributions on common units declared and paid by Post-Merger ETP were as follows: Quarter Ended Record Date Payment Date Rate March 31, 2017 May 10, 2017 May 16, 2017 $ 0.5350 June 30, 2017 August 7, 2017 August 15, 2017 0.5500 September 30, 2017 November 7, 2017 November 14, 2017 0.5650 December 31, 2017 February 8, 2018 February 14, 2018 0.5650 Distributions declared and paid by ETP to the Series A and Series B preferred unitholders were as follows: Distribution per Preferred Unit Quarter Ended Record Date Payment Date Series A Series B December 31, 2017 February 1, 2018 February 15, 2018 $ 15.451 $ 16.378 |
Schedule of Distributions Made To General and Limited Partners [Table Text Block] | As the holder of Energy Transfer Partners, L.P.’s IDRs, the Parent Company has historically been entitled to an increasing share of Energy Transfer Partners, L.P.’s total distributions above certain target levels. Following the Sunoco Logistics Merger, the Parent Company will continue to be entitled to such incentive distributions; however, the amount of the incentive distributions to be paid by ETP will be determined based on the historical incentive distribution schedule of Sunoco Logistics. The following table summarizes the target levels related to ETP’s distributions (as a percentage of total distributions on common units, IDRs and the general partner interest). The percentage reflected in the table includes only the percentage related to the IDRs and excludes distributions to which the Parent Company would also be entitled through its direct or indirect ownership of ETP’s general partner interest, Class I units and a portion of the outstanding ETP common units. Marginal Percentage Interest in Distributions Total Quarterly Distribution Target Amount IDRs Partners (1) Minimum Quarterly Distribution $0.0750 —% 100% First Target Distribution up to $0.0833 —% 100% Second Target Distribution above $0.0833 up to $0.0958 13% 87% Third Target Distribution above $0.0958 up to $0.2638 35% 65% Thereafter above $0.2638 48% 52% (1) Includes general partner and limited partner interests, based on the proportionate ownership of each. |
Sunoco LP [Member] | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | Sunoco LP Quarterly Distributions of Available Cash The following table illustrates the percentage allocations of available cash from operating surplus between Sunoco LP’s common unitholders and the holder of its IDRs based on the specified target distribution levels, after the payment of distributions to Class C unitholders. The amounts set forth under “marginal percentage interest in distributions” are the percentage interests of the IDR holder and the common unitholders in any available cash from operating surplus which Sunoco LP distributes up to and including the corresponding amount in the column “total quarterly distribution per unit target amount.” The percentage interests shown for common unitholders and IDR holder for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. Effective July 1, 2015, ETE exchanged 21 million ETP common units, owned by ETE, the owner of ETP’s general partner interest, for 100% of the general partner interest and all of the IDRs of Sunoco LP. ETP had previously owned our IDRs since September 2014, prior to that date the IDRs were owned by Susser. Marginal Percentage Interest in Distributions Total Quarterly Distribution Target Amount Common Unitholders Holder of IDRs Minimum Quarterly Distribution $0.4375 100% —% First Target Distribution $0.4375 to $0.503125 100% —% Second Target Distribution $0.503125 to $0.546875 85% 15% Third Target Distribution $0.546875 to $0.656250 75% 25% Thereafter Above $0.656250 50% 50% Distributions declared and paid by Sunoco LP for the periods presented were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2014 February 17, 2015 February 27, 2015 0.6000 March 31, 2015 May 19, 2015 May 29, 2015 0.6450 June 30, 2015 August 18, 2015 August 28, 2015 0.6934 September 30, 2015 November 17, 2015 November 27, 2015 0.7454 December 31, 2015 February 5, 2016 February 16, 2016 0.8013 March 31, 2016 May 6, 2016 May 16, 2016 0.8173 June 30, 2016 August 5, 2016 August 15, 2016 0.8255 September 30, 2016 November 7, 2016 November 15, 2016 0.8255 December 31, 2016 February 13, 2017 February 21, 2017 0.8255 March 31, 2017 May 9, 2017 May 16, 2017 0.8255 June 30, 2017 August 7, 2017 August 15, 2017 0.8255 September 30, 2017 November 7, 2017 November 14, 2017 0.8255 December 31, 2017 February 06, 2018 February 14, 2018 0.8255 |
Schedule of Distributions Made To General and Limited Partners [Table Text Block] | Sunoco LP Quarterly Distributions of Available Cash The following table illustrates the percentage allocations of available cash from operating surplus between Sunoco LP’s common unitholders and the holder of its IDRs based on the specified target distribution levels, after the payment of distributions to Class C unitholders. The amounts set forth under “marginal percentage interest in distributions” are the percentage interests of the IDR holder and the common unitholders in any available cash from operating surplus which Sunoco LP distributes up to and including the corresponding amount in the column “total quarterly distribution per unit target amount.” The percentage interests shown for common unitholders and IDR holder for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. Effective July 1, 2015, ETE exchanged 21 million ETP common units, owned by ETE, the owner of ETP’s general partner interest, for 100% of the general partner interest and all of the IDRs of Sunoco LP. ETP had previously owned our IDRs since September 2014, prior to that date the IDRs were owned by Susser. Marginal Percentage Interest in Distributions Total Quarterly Distribution Target Amount Common Unitholders Holder of IDRs Minimum Quarterly Distribution $0.4375 100% —% First Target Distribution $0.4375 to $0.503125 100% —% Second Target Distribution $0.503125 to $0.546875 85% 15% Third Target Distribution $0.546875 to $0.656250 75% 25% Thereafter Above $0.656250 50% 50% |
Series A Convertible Preferred Units [Member] | Parent Company [Member] | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | Our distributions declared and paid with respect to our Convertible Unit during the years ended December 31, 2016 and 2017 were as follows: Quarter Ended Record Date Payment Date Rate March 31, 2016 May 6, 2016 May 19, 2016 $ 0.1100 June 30, 2016 August 8, 2016 August 19, 2016 0.1100 September 30, 2016 November 7, 2016 November 18, 2016 0.1100 December 31, 2016 February 7, 2017 February 21, 2017 0.1100 March 31, 2017 May 10, 2017 May 19, 2017 0.1100 June 30, 2017 August 7, 2017 August 21, 2017 0.1100 September 30, 2017 November 7, 2017 November 20, 2017 0.1100 December 31, 2017 February 8, 2018 February 20, 2018 0.1100 |
Unit-Based Compensation Plans U
Unit-Based Compensation Plans Unit-Based Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | |
Schedule Of ETP Awards Granted To Employees And Non-Employee Directos | The following table summarizes the activity of the Subsidiary Unit Awards: ETP Sunoco LP Number of Units Weighted Average Grant-Date Fair Value Per Unit Number of Units Weighted Average Grant-Date Fair Value Per Unit Unvested awards as of December 31, 2016 9.4 $ 27.68 2.0 $ 34.43 Legacy Sunoco Logistics unvested awards as of December 31, 2016 3.2 28.57 — — Awards granted 4.9 17.69 0.2 28.31 Awards vested (2.3 ) 34.22 (0.3 ) 45.48 Awards forfeited (1.1 ) 25.03 (0.2 ) 34.71 Unvested awards as of December 31, 2017 14.1 23.18 1.7 31.89 |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Federal and State Income Taxes [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the federal and state income tax expense (benefit) of our taxable subsidiaries were summarized as follows: Years Ended December 31, 2017 2016 2015 Current expense (benefit): Federal $ 54 $ (47 ) $ (308 ) State (16 ) (34 ) (54 ) Total 38 (81 ) (362 ) Deferred expense (benefit): Federal (2,055 ) (189 ) 268 State 184 12 (29 ) Total (1,871 ) (177 ) 239 Total income tax expense (benefit) from continuing operations $ (1,833 ) $ (258 ) $ (123 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Historically, our effective tax rate has differed from the statutory rate primarily due to partnership earnings that are not subject to United States federal and most state income taxes at the partnership level. A reconciliation of income tax expense (benefit) at the United States statutory rate to the income tax expense (benefit) attributable to continuing operations for the years ended December 31, 2017 , 2016 and 2015 is as follows: 2017 2016 2015 Income tax expense (benefit) at United States statutory rate of 35 percent $ 248 $ 71 $ 316 Increase (reduction) in income taxes resulting from: Partnership earnings not subject to tax (477 ) (576 ) (355 ) Goodwill impairment 207 278 — State tax, net of federal tax benefit 124 (10 ) (29 ) Dividend received deduction (14 ) (15 ) (22 ) Federal rate change (1,812 ) — — Audit settlement — — (7 ) Change in tax status of subsidiary (124 ) — — Other 15 (6 ) (26 ) Income tax expense (benefit) from continuing operations $ (1,833 ) $ (258 ) $ (123 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred taxes result from the temporary differences between financial reporting carrying amounts and the tax basis of existing assets and liabilities. The table below summarizes the principal components of the deferred tax assets (liabilities) as follows: December 31, 2017 2016 Deferred income tax assets: Net operating losses and alternative minimum tax credit $ 683 $ 472 Pension and other postretirement benefits 21 30 Long-term debt 14 32 Other 191 182 Total deferred income tax assets 909 716 Valuation allowance (189 ) (118 ) Net deferred income tax assets 720 598 Deferred income tax liabilities: Property, plant and equipment (1,036 ) (1,633 ) Investments in unconsolidated affiliates (2,726 ) (3,789 ) Trademarks (173 ) (273 ) Other (100 ) (15 ) Total deferred income tax liabilities (4,035 ) (5,710 ) Net deferred income taxes $ (3,315 ) $ (5,112 ) |
ScheduleOfUnrecognizedTaxBenefits [Table Text Block] | The following table sets forth the changes in unrecognized tax benefits: Years Ended December 31, 2017 2016 2015 Balance at beginning of year $ 615 $ 610 $ 440 Additions attributable to tax positions taken in the current year — 8 178 Additions attributable to tax positions taken in prior years 28 18 — Reduction attributable to tax positions taken in prior years (25 ) (20 ) — Lapse of statute (9 ) (1 ) (8 ) Balance at end of year $ 609 $ 615 $ 610 |
Summary of Deferred Tax Liability Not Recognized [Table Text Block] | The table below provides a rollforward of the net deferred income tax liability as follows: December 31, 2017 2016 Net deferred income tax liability, beginning of year $ (5,112 ) $ (4,590 ) Goodwill associated with Sunoco Retail to Sunoco LP transaction (see Note 3) — (460 ) Net assets (excluding goodwill) associated with Sunoco Retail to Sunoco LP (see Note 3) — (243 ) Tax provision, including provision from discontinued operations 1,825 201 Other (28 ) (20 ) Net deferred income tax liability $ (3,315 ) $ (5,112 ) |
Derivative Assets And Liabili34
Derivative Assets And Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Offsetting Assets [Table Text Block] | he following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements: Asset Derivatives Liability Derivatives Balance Sheet Location December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Derivatives without offsetting agreements Derivative assets (liabilities) $ — $ — $ (219 ) $ (194 ) Derivatives in offsetting agreements: OTC contracts Derivative assets (liabilities) 45 25 (58 ) (58 ) Broker cleared derivative contracts Other current assets (liabilities) 276 338 (283 ) (420 ) 321 363 (560 ) (672 ) Offsetting agreements: Counterparty netting Derivative assets (liabilities) (21 ) (4 ) 21 4 Counterparty netting Other current assets (liabilities) (263 ) (338 ) 263 338 Total net derivatives $ 37 $ 21 $ (276 ) $ (330 ) |
Outstanding Commodity-Related Derivatives | The following table details our outstanding commodity-related derivatives: December 31, 2017 December 31, 2016 Notional Volume Maturity Notional Volume Maturity Mark-to-Market Derivatives (Trading) Natural Gas (BBtu): Fixed Swaps/Futures 1,078 2018 (683 ) 2017 Basis Swaps IFERC/NYMEX (1) 48,510 2018-2020 2,243 2017 Options – Puts 13,000 2018 — — Power (Megawatt): Forwards 435,960 2018-2019 391,880 2017 - 2018 Futures (25,760 ) 2018 109,564 2017 - 2018 Options — Puts (153,600 ) 2018 (50,400 ) 2017 Options — Calls 137,600 2018 186,400 2017 Crude (MBbls) – Futures — — (617 ) 2017 (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX 4,650 2018-2020 10,750 2017 - 2018 Swing Swaps IFERC 87,253 2018-2019 (5,663 ) 2017 Fixed Swaps/Futures (4,390 ) 2018-2019 (52,653 ) 2017 - 2019 Forward Physical Contracts (145,105 ) 2018-2020 (22,492 ) 2017 Natural Gas Liquid (MBbls) – Forwards/Swaps 6,744 2018-2019 (5,787 ) 2017 Refined Products (MBbls) – Futures (3,901 ) 2018-2019 (3,144 ) 2017 Corn (Bushels) – Futures 1,870,000 2018 1,580,000 2017 Fair Value Hedging Derivatives (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (39,770 ) 2018 (36,370 ) 2017 Fixed Swaps/Futures (39,770 ) 2018 (36,370 ) 2017 Hedged Item — Inventory 39,770 2018 36,370 2017 (1) Includes aggregate amounts for open positions related to Houston Ship Channel, Waha Hub, NGPL TexOk, West Louisiana Zone and Henry Hub locations. |
Interest Rate Swaps Outstanding | The following table summarizes our interest rate swaps outstanding, none of which are designated as hedges for accounting purposes: Notional Amount Outstanding Entity Term Type (1) December 31, 2017 December 31, 2016 ETP July 2017 (2) Forward-starting to pay a fixed rate of 3.90% and receive a floating rate $ — $ 500 ETP July 2018 (2) Forward-starting to pay a fixed rate of 3.76% and receive a floating rate 300 200 ETP July 2019 (2) Forward-starting to pay a fixed rate of 3.64% and receive a floating rate 300 200 ETP July 2020 (2) Forward-starting to pay a fixed rate of 3.52% and receive a floating rate 400 — ETP December 2018 Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.53% 1,200 1,200 ETP March 2019 Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.42% 300 300 (1) Floating rates are based on 3-month LIBOR. |
Fair Value Of Derivative Instruments | The following table provides a summary of our derivative assets and liabilities: Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Derivatives designated as hedging instruments: Commodity derivatives (margin deposits) $ 14 $ — $ (2 ) $ (4 ) 14 — (2 ) (4 ) Derivatives not designated as hedging instruments: Commodity derivatives (margin deposits) 262 338 (281 ) (416 ) Commodity derivatives 45 25 (58 ) (58 ) Interest rate derivatives — — (219 ) (193 ) Embedded derivatives in ETP Convertible Preferred Units — — — (1 ) 307 363 (558 ) (668 ) Total derivatives $ 321 $ 363 $ (560 ) $ (672 ) |
Partnership's Derivative Assets And Liabilities Recognized OCI On Derivatives | The following tables summarize the amounts recognized with respect to our derivative financial instruments: Location of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness Years Ended December 31, 2017 2016 2015 Derivatives in fair value hedging relationships (including hedged item): Commodity derivatives Cost of products sold $ 26 $ 14 $ 21 Total $ 26 $ 14 $ 21 |
Partnership's Derivative Assets And Liabilities Amount Of Gain (Loss) Recognized | Location of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness Years Ended December 31, 2017 2016 2015 Derivatives in fair value hedging relationships (including hedged item): Commodity derivatives Cost of products sold $ 26 $ 14 $ 21 Total $ 26 $ 14 $ 21 Location of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income on Derivatives Years Ended December 31, 2017 2016 2015 Derivatives not designated as hedging instruments: Commodity derivatives – Trading Cost of products sold $ 31 $ (35 ) $ (11 ) Commodity derivatives – Non-trading Cost of products sold 5 (177 ) 15 Interest rate derivatives Losses on interest rate derivatives (37 ) (12 ) (18 ) Embedded derivatives Other, net 1 4 12 Total $ — $ (220 ) $ (2 ) |
Regulatory Matters, Commitmen35
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Regulatory Matters, Commitments, Contingencies And Environmental Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities [Abstract] | |
Schedule of Rent Expense [Table Text Block] | We have certain non-cancelable leases for property and equipment, which require fixed monthly rental payments with typical initial terms of 5 to 15 years, with some having a term of 40 years or more. The table below reflects rental expense under these operating leases included in operating expenses in the accompanying statements of operations, which include contingent rentals, and rental expense recovered through related sublease rental income: Years Ended December 31, 2017 2016 2015 Rental expense (1) $ 196 $ 187 $ 281 Less: Sublease rental income (25 ) (26 ) (26 ) Rental expense, net $ 171 $ 161 $ 255 (1) Includes contingent rentals totaling $16 million , $18 million and $20 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. |
Environmental Exit Costs by Cost [Table Text Block] | December 31, 2017 2016 Current $ 35 $ 26 Non-current 337 318 Total environmental liabilities $ 372 $ 344 |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum lease commitments for such leases are: Years Ending December 31: 2018 $ 113 2019 100 2020 96 2021 83 2022 71 Thereafter 606 Future minimum lease commitments 1,069 Less: Sublease rental income (152 ) Net future minimum lease commitments $ 917 |
Retirement Benefits Retirement
Retirement Benefits Retirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Obligations and Funded Status Pension and other postretirement benefit liabilities are accrued on an actuarial basis during the years an employee provides services. The following table contains information at the dates indicated about the obligations and funded status of pension and other postretirement plans on a combined basis: December 31, 2017 December 31, 2016 Pension Benefits Pension Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Change in benefit obligation: Benefit obligation at beginning of period $ 18 $ 51 $ 166 $ 20 $ 57 $ 181 Interest cost 1 1 4 1 2 4 Amendments — — 7 — — — Benefits paid, net (2 ) (6 ) (20 ) (1 ) (7 ) (21 ) Actuarial (gain) loss and other 2 1 (1 ) (2 ) (1 ) 2 Settlements (18 ) — — — — — Benefit obligation at end of period $ 1 $ 47 $ 156 $ 18 $ 51 $ 166 Change in plan assets: Fair value of plan assets at beginning of period $ 12 $ — $ 256 $ 15 $ — $ 261 Return on plan assets and other 3 — 11 (2 ) — 6 Employer contributions 6 — 10 — — 10 Benefits paid, net (2 ) — (20 ) (1 ) — (21 ) Settlements (18 ) — — — — — Fair value of plan assets at end of period $ 1 $ — $ 257 $ 12 $ — $ 256 Amount underfunded (overfunded) at end of period $ — $ 47 $ (101 ) $ 6 $ 51 $ (90 ) Amounts recognized in the consolidated balance sheets consist of: Non-current assets $ — $ — $ 127 $ — $ — $ 114 Current liabilities — (8 ) (2 ) — (7 ) (2 ) Non-current liabilities — (39 ) (24 ) (6 ) (44 ) (23 ) $ — $ (47 ) $ 101 $ (6 ) $ (51 ) $ 89 Amounts recognized in accumulated other comprehensive loss (pre-tax basis) consist of: Net actuarial gain $ — $ 5 $ (18 ) $ — $ — $ (13 ) Prior service cost — — 21 — — 15 $ — $ 5 $ 3 $ — $ — $ 2 |
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block] | The following table summarizes information at the dates indicated for plans with an accumulated benefit obligation in excess of plan assets: December 31, 2017 December 31, 2016 Pension Benefits Pension Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Projected benefit obligation $ 1 $ 47 N/A $ 18 $ 51 N/A Accumulated benefit obligation 1 47 $ 156 18 51 $ 166 Fair value of plan assets 1 — 257 12 — 256 |
Schedule of Benefit Obligations Assumptions [Table Text Block] | Assumptions The weighted-average assumptions used in determining benefit obligations at the dates indicated are shown in the table below: December 31, 2017 December 31, 2016 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Discount rate 3.27 % 2.34 % 3.65 % 2.34 % Rate of compensation increase N/A N/A N/A N/A |
Schedule or Description of Weighted Average Discount Rate [Table Text Block] | The weighted-average assumptions used in determining net periodic benefit cost for the periods presented are shown in the table below: December 31, 2017 December 31, 2016 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Discount rate 3.52 % 3.10 % 3.60 % 3.06 % Expected return on assets: Tax exempt accounts 3.50 % 7.00 % 3.50 % 7.00 % Taxable accounts N/A 4.50 % N/A 4.50 % Rate of compensation increase N/A N/A N/A N/A |
Schedule of Health Care Cost Trend Rates [Table Text Block] | The assumed health care cost trend rates used to measure the expected cost of benefits covered by Panhandle’s and Sunoco, Inc.’s other postretirement benefit plans are shown in the table below: December 31, 2017 2016 Health care cost trend rate 7.20 % 6.73 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 4.99 % 4.96 % Year that the rate reaches the ultimate trend rate 2023 2021 |
Fair Value of Plan Assets [Table Text Block] | The fair value of the pension plan assets by asset category at the dates indicated is as follows: Fair Value Measurements at December 31, 2017 Fair Value Total Level 1 Level 2 Level 3 Asset Category: Mutual funds (1) $ 1 $ 1 $ — $ — Total $ 1 $ 1 $ — $ — (1) Comprised of 100% equities as of December 31, 2017 . Fair Value Measurements at December 31, 2016 Fair Value Total Level 1 Level 2 Level 3 Asset Category: Mutual funds (1) $ 12 $ 12 $ — $ — Total $ 12 $ 12 $ — $ — (1) Comprised of 100% equities as of December 31, 2016 . The fair value of the other postretirement plan assets by asset category at the dates indicated is as follows: Fair Value Measurements at December 31, 2017 Fair Value Total Level 1 Level 2 Level 3 Asset Category: Cash and Cash Equivalents $ 33 $ 33 $ — $ — Mutual funds (1) 154 154 — — Fixed income securities 70 — 70 — Total $ 257 $ 187 $ 70 $ — (1) Primarily comprised of approximately 38% equities, 61% fixed income securities and 2% cash as of December 31, 2017 . Fair Value Measurements at December 31, 2016 Fair Value Total Level 1 Level 2 Level 3 Asset Category: Cash and Cash Equivalents $ 23 $ 23 $ — $ — Mutual funds (1) 142 142 — — Fixed income securities 91 — 91 — Total $ 256 $ 165 $ 91 $ — (1) Primarily comprised of approximately 31% equities, 66% fixed income securities and 3% cash as of December 31, 2016 . The Level 1 plan assets are valued based on active market quotes. The Level 2 plan assets are valued based on the net asset value per share (or its equivalent) of the investments, which was not determinable through publicly published sources but was calculated consistent with authoritative accounting guidelines. |
Schedule of Expected Benefit Payments [Table Text Block] | Benefit Payments Panhandle’s and Sunoco, Inc.’s estimate of expected benefit payments, which reflect expected future service, as appropriate, in each of the next five years and in the aggregate for the five years thereafter are shown in the table below: Years Pension Benefits - Unfunded Plans (1) Other Postretirement Benefits (Gross, Before Medicare Part D) 2018 $ 8 $ 24 2019 6 23 2020 6 21 2021 5 19 2022 4 17 2023 – 2027 15 37 |
Schedule of Net Benefit Costs [Table Text Block] | Components of Net Periodic Benefit Cost December 31, 2017 December 31, 2016 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Net Periodic Benefit Cost: Interest cost $ 2 $ 4 $ 3 $ 4 Expected return on plan assets — (9 ) (1 ) (8 ) Prior service cost amortization — 2 — 1 Net periodic benefit cost $ 2 $ (3 ) $ 2 $ (3 ) |
Reportable Segments (Tables)
Reportable Segments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Financial Information By Segment | Years Ended December 31, 2017 2016 2015 Revenues: Investment in ETP: Revenues from external customers $ 28,613 $ 21,618 $ 34,156 Intersegment revenues 441 209 136 29,054 21,827 34,292 Investment in Sunoco LP: Revenues from external customers 11,713 9,977 12,419 Intersegment revenues 10 9 11 11,723 9,986 12,430 Investment in Lake Charles LNG: Revenues from external customers 197 197 216 Adjustments and Eliminations: (451 ) (218 ) (10,842 ) Total revenues $ 40,523 $ 31,792 $ 36,096 Costs of products sold: Investment in ETP $ 20,801 $ 15,080 $ 26,714 Investment in Sunoco LP 10,615 8,830 11,450 Adjustments and Eliminations (450 ) (217 ) (9,496 ) Total costs of products sold $ 30,966 $ 23,693 $ 28,668 Depreciation, depletion and amortization: Investment in ETP $ 2,332 $ 1,986 $ 1,929 Investment in Sunoco LP 169 176 150 Investment in Lake Charles LNG 39 39 39 Corporate and Other 14 15 17 Adjustments and Eliminations — — (184 ) Total depreciation, depletion and amortization $ 2,554 $ 2,216 $ 1,951 Years Ended December 31, 2017 2016 2015 Equity in earnings of unconsolidated affiliates: Investment in ETP $ 156 $ 59 $ 469 Adjustments and Eliminations (12 ) 211 (193 ) Total equity in earnings of unconsolidated affiliates $ 144 $ 270 $ 276 Years Ended December 31, 2017 2016 2015 Segment Adjusted EBITDA: Investment in ETP $ 6,712 $ 5,733 $ 5,517 Investment in Sunoco LP 732 665 719 Investment in Lake Charles LNG 175 179 196 Corporate and Other (31 ) (170 ) (104 ) Adjustments and Eliminations (268 ) (272 ) (590 ) Total Segment Adjusted EBITDA 7,320 6,135 5,738 Depreciation, depletion and amortization (2,554 ) (2,216 ) (1,951 ) Interest expense, net of interest capitalized (1,922 ) (1,804 ) (1,622 ) Gains on acquisitions — 83 — Impairment of investments in unconsolidated affiliates (313 ) (308 ) — Impairment losses (1,039 ) (1,040 ) (339 ) Losses on interest rate derivatives (37 ) (12 ) (18 ) Non-cash unit-based compensation expense (99 ) (70 ) (91 ) Unrealized gains (losses) on commodity risk management activities 59 (136 ) (65 ) Losses on extinguishments of debt (89 ) — (43 ) Inventory valuation adjustments 24 97 (67 ) Adjusted EBITDA related to discontinued operations (223 ) (199 ) (228 ) Adjusted EBITDA related to unconsolidated affiliates (716 ) (675 ) (713 ) Equity in earnings of unconsolidated affiliates 144 270 276 Other, net 155 79 23 Income from continuing operations before income tax benefit $ 710 $ 204 $ 900 Income tax benefit from continuing operations (1,833 ) (258 ) (123 ) Income from continuing operations 2,543 462 1,023 Income (loss) from discontinued operations, net of tax (177 ) (462 ) 38 Net income $ 2,366 $ — $ 1,061 December 31, 2017 2016 2015 Total assets: Investment in ETP $ 77,965 $ 70,105 $ 65,128 Investment in Sunoco LP 8,344 8,701 8,842 Investment in Lake Charles LNG 1,646 1,508 1,369 Corporate and Other 598 711 638 Adjustments and Eliminations (2,307 ) (2,100 ) (4,833 ) Total $ 86,246 $ 78,925 $ 71,144 Years Ended December 31, 2017 2016 2015 Additions to property, plant and equipment, net of contributions in aid of construction costs (capital expenditures related to the Partnership’s proportionate ownership on an accrual basis): Investment in ETP $ 5,901 $ 5,810 $ 8,167 Investment in Sunoco LP 103 119 178 Investment in Lake Charles LNG 2 — 1 Adjustments and Eliminations — — (123 ) Total $ 6,006 $ 5,929 $ 8,223 December 31, 2017 2016 2015 Advances to and investments in affiliates: Investment in ETP $ 3,816 $ 4,280 $ 5,003 Adjustments and Eliminations (1,111 ) (1,240 ) (1,541 ) Total $ 2,705 $ 3,040 $ 3,462 The following tables provide revenues, grouped by similar products and services, for our reportable segments. These amounts include intersegment revenues for transactions between ETP and Sunoco LP. Investment in ETP Years Ended December 31, 2017 2016 2015 Intrastate Transportation and Storage $ 2,891 $ 2,155 $ 1,912 Interstate Transportation and Storage 915 946 1,008 Midstream 2,510 2,342 2,607 NGL and refined products transportation and services 8,326 5,973 4,569 Crude oil transportation and services 11,672 7,539 8,980 All Other 2,740 2,872 15,216 Total revenues 29,054 21,827 34,292 Less: Intersegment revenues 441 209 136 Revenues from external customers $ 28,613 $ 21,618 $ 34,156 Investment in Sunoco LP Years Ended December 31, 2017 2016 2015 Retail operations $ 2,263 $ 1,991 $ 2,226 Wholesale operations 9,460 7,995 10,204 Total revenues 11,723 9,986 12,430 Less: Intersegment revenues 10 9 11 Revenues from external customers $ 11,713 $ 9,977 $ 12,419 Investment in Lake Charles LNG Lake Charles LNG’s revenues of $197 million , $197 million and $216 million for the years ended December 31, 2017 , 2016 and 2015 , respectively, were related to LNG terminalling. |
Quarterly Financial Data (Una38
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | Quarters Ended March 31* June 30* September 30* December 31 Total Year 2017: Revenues $ 9,660 $ 9,427 $ 9,984 $ 11,452 $ 40,523 Operating income (loss) 758 746 924 285 2,713 Net income (loss) 319 121 758 1,168 2,366 Limited Partners’ interest in net income 232 204 240 239 915 Basic net income per limited partner unit $ 0.22 $ 0.18 $ 0.22 $ 0.22 $ 0.85 Diluted net income per limited partner unit $ 0.21 $ 0.18 $ 0.22 $ 0.22 $ 0.83 Quarters Ended March 31* June 30* September 30* December 31* Total Year* 2016: Revenues $ 6,447 $ 7,866 $ 8,156 $ 9,323 $ 31,792 Operating income 680 814 624 (275 ) 1,843 Net income (loss) 320 417 (3 ) (734 ) — Limited Partners’ interest in net income 311 239 207 226 983 Basic net income per limited partner unit $ 0.30 $ 0.23 $ 0.20 $ 0.22 $ 0.94 Diluted net income per limited partner unit $ 0.30 $ 0.23 $ 0.19 $ 0.21 $ 0.92 * As adjusted. See Note 2 and Note 3. A reconciliation of amounts previously reported in Forms 10-Q to the quarterly data has not been presented due to immateriality. The three months ended December 31, 2017 and 2016 reflected the recognition of impairment losses of $1.04 billion and $1.04 billion , respectively. Impairment losses in 2017 were primarily related to ETP’s interstate transportation and storage operations, NGL and refined products operations and other operations as well as Sunoco LP’s retail operations. Impairment losses in 2016 were primarily related to ETP’s interstate transportation and storage operations and midstream operations as well as Sunoco LP’s retail operations. The three months ended December 31, 2017 and December 31, 2016 reflected the recognition of a non-cash impairment of ETP’s investments in subsidiaries of $313 million and $308 million , respectively, in its interstate transportation and storage operations. |
Supplemental Financial Statem39
Supplemental Financial Statement Information (Tables) - Parent Company [Member] | 12 Months Ended |
Dec. 31, 2017 | |
Schedule Of Balance Sheets | BALANCE SHEETS December 31, 2017 2016 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1 $ 2 Accounts receivable from related companies 65 55 Other current assets 1 — Total current assets 67 57 PROPERTY, PLANT AND EQUIPMENT, net 27 36 ADVANCES TO AND INVESTMENTS IN UNCONSOLIDATED AFFILIATES 6,082 5,088 INTANGIBLE ASSETS, net — 1 GOODWILL 9 9 OTHER NON-CURRENT ASSETS, net 8 10 Total assets $ 6,193 $ 5,201 LIABILITIES AND PARTNERS’ CAPITAL CURRENT LIABILITIES: Accounts payable $ — $ 1 Accounts payable to related companies — 22 Interest payable 66 66 Accrued and other current liabilities 4 3 Total current liabilities 70 92 LONG-TERM DEBT, less current maturities 6,700 6,358 NOTE PAYABLE TO AFFILIATE 617 443 OTHER NON-CURRENT LIABILITIES 2 2 COMMITMENTS AND CONTINGENCIES PARTNERS’ DEFICIT: General Partner (3 ) (3 ) Limited Partners: Common Unitholders (1,079,145,561 and 1,046,947,157 units authorized, issued and outstanding as of December 31, 2017 and 2016, respectively) (1,643 ) (1,871 ) Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017 and 2016) 450 180 Total partners’ deficit (1,196 ) (1,694 ) Total liabilities and partners’ deficit $ 6,193 $ 5,201 |
Schedule Of Statements Of Operations | STATEMENTS OF OPERATIONS Years Ended December 31, 2017 2016 2015 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES $ (31 ) $ (185 ) $ (112 ) OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized (347 ) (327 ) (294 ) Equity in earnings of unconsolidated affiliates 1,381 1,511 1,601 Loss on extinguishment of debt (47 ) — — Other, net (2 ) (4 ) (5 ) INCOME BEFORE INCOME TAXES 954 995 1,190 Income tax expense — — 1 NET INCOME 954 995 1,189 General Partner’s interest in net income 2 3 3 Convertible Unitholders’ interest in income 37 9 — Class D Unitholder’s interest in net income — — 3 Limited Partners’ interest in net income $ 915 $ 983 $ 1,183 |
Schedule Of Statements Of Cash Flows | STATEMENTS OF CASH FLOWS Years Ended December 31, 2017 2016 2015 NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES $ 831 $ 918 $ 1,103 CASH FLOWS FROM INVESTING ACTIVITIES: Cash paid for Bakken Pipeline Transaction — — (817 ) Contributions to unconsolidated affiliates (861 ) (70 ) — Capital expenditures (1 ) (16 ) (19 ) Contributions in aid of construction costs 7 — — Net cash used in investing activities (855 ) (86 ) (836 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings 2,219 225 3,672 Principal payments on debt (1,881 ) (210 ) (1,985 ) Distributions to partners (1,010 ) (1,022 ) (1,090 ) Proceeds from affiliate 174 176 210 Common Units issued for cash 568 — — Units repurchased under buyback program — — (1,064 ) Debt issuance costs (47 ) — (11 ) Net cash provided by (used in) financing activities 23 (831 ) (268 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1 ) 1 (1 ) CASH AND CASH EQUIVALENTS, beginning of period 2 1 2 CASH AND CASH EQUIVALENTS, end of period $ 1 $ 2 $ 1 |
Operations And Organization (Na
Operations And Organization (Narrative) (Details) $ in Millions | 1 Months Ended | 12 Months Ended | |||||||||
Feb. 28, 2018shares | Jan. 31, 2018shares | Apr. 30, 2017 | Oct. 31, 2015USD ($) | Jul. 31, 2015shares | Apr. 30, 2015USD ($)shares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($)shares | Dec. 31, 2015USD ($) | |
LNG Storage Capacity | 9 | ||||||||||
Payments to Acquire Businesses, Gross | $ | $ 382 | ||||||||||
Citrus [Member] | |||||||||||
Interest ownership | 50.00% | ||||||||||
ETP [Member] | |||||||||||
Incentive Distribution Rights | 100.00% | ||||||||||
ETP [Member] | |||||||||||
Number of common units of a subsidiary partnership that are held by a wholly-owned subsidiary of the Parent. | 27,500,000 | ||||||||||
SXL and ETP Merger [Member] | |||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.5 | ||||||||||
Dropdown of Sunoco LLC Interest [Member] | |||||||||||
Payments to Acquire Businesses, Gross | $ | $ 775 | ||||||||||
Sunoco LP Exchange [Member] | |||||||||||
Stock Repurchased During Period, Shares | 31,500,000 | ||||||||||
Sunoco LP Exchange [Member] | Sunoco GP [Member] | |||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | ||||||||||
Regency Merger [Member] | |||||||||||
Business Acquisition, Number Of Share Received In Exchange Of Each Share | 0.6186 | ||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 258,300,000 | ||||||||||
Relinquishment of Incentive Distributions | $ | $ 60 | $ 80 | |||||||||
Class I Units [Member] | ETP [Member] | |||||||||||
Number of common units of a subsidiary partnership that are held by a less than wholly-owned subsidiary of the Parent. | 100 | ||||||||||
ETP Subsidiaries [Member] | Regency Merger [Member] | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 23,300,000 | ||||||||||
ETP Series A Preferred Units [Member] | Regency Merger [Member] | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,900,000 | ||||||||||
Subsequent Event [Member] | |||||||||||
Relinquishment of Incentive Distributions | $ | $ 33 | $ 128 | $ 153 | ||||||||
Subsequent Event [Member] | Sunoco LP [Member] | |||||||||||
Stock Repurchased During Period, Shares | 17,286,859 | ||||||||||
Number of common units of a subsidiary partnership that are held by a wholly-owned subsidiary of the Parent. | 2,300,000 | ||||||||||
Subsequent Event [Member] | Regency Merger [Member] | |||||||||||
Relinquishment of Incentive Distributions | $ | $ 320 | ||||||||||
Subsequent Event [Member] | Series A Preferred Units [Member] | Sunoco LP [Member] | |||||||||||
Stock Repurchased and Retired During Period, Shares | 12,000,000 |
Estimates, Significant Accoun41
Estimates, Significant Accounting Policies and Balance Sheet Detail (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Asset Retirement Obligation | $ 165 | $ 170 | ||
Tangible Asset Impairment Charges | 127 | 133 | $ 110 | |
ARO Underlying Asset | 2 | 14 | ||
Impairment of Intangible Assets, Finite-lived | 24 | |||
Asset Retirement Obligation, Legally Restricted Assets, Fair Value | 21 | 13 | ||
Deferred Tax Liabilities, Gross | 4,035 | 5,710 | ||
Long-term Debt, Fair Value | 45,620 | 45,050 | ||
Impairment losses | 895 | 897 | ||
Goodwill acquired | 12 | 509 | ||
Goodwill | 4,768 | 5,670 | [1] | 6,056 |
Long-term Debt | 44,084 | 43,802 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | 0 | |||
Investment In Sunoco LP [Member] | ||||
Impairment losses | 102 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 641 | |||
Goodwill acquired | 0 | 81 | ||
Goodwill | 1,430 | 1,550 | 1,694 | |
Other Segments [Member] | ||||
Impairment losses | (452) | |||
NGL and refined products transportation and services [Member] | ||||
Impairment losses | (79) | |||
Midstream [Member] | ||||
Tangible Asset Impairment Charges | 10 | |||
Impairment losses | (32) | |||
Investment In ETP [Member] | ||||
Impairment losses | 793 | 670 | ||
Goodwill acquired | 12 | 428 | ||
Goodwill | 3,115 | 3,897 | 5,428 | |
Interstate Transportation and Storage [Member] | ||||
Impairment losses | (262) | (638) | ||
Retail Marketing [Member] | ||||
Excise Taxes Collected | $ 234 | 243 | $ 231 | |
Continuing Operations [Member] | Investment In Sunoco LP [Member] | ||||
Impairment losses | $ 227 | |||
[1] | * As adjusted. See Note 2. |
Estimates, Significant Accoun42
Estimates, Significant Accounting Policies and Balance Sheet Detail Estimates (Schedule of Accounting Change) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | [2] | Jun. 30, 2016 | [2] | Mar. 31, 2016 | [2] | Dec. 31, 2015 | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||||||||||
Cost of products sold | $ 30,966 | $ 23,693 | [1] | $ 28,668 | [1] | |||||||||||||||||
Operating income (loss) | $ 285 | $ 924 | $ 746 | $ 758 | $ (275) | [2] | $ 624 | $ 814 | $ 680 | 2,713 | 1,843 | [1],[2] | 2,287 | [1] | ||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 710 | 204 | [1] | 900 | [1] | |||||||||||||||||
Net income | $ 1,168 | $ 758 | $ 121 | $ 319 | $ (734) | [2] | $ (3) | $ 417 | $ 320 | 2,366 | 0 | [1],[2] | 1,061 | [1] | ||||||||
Inventory valuation adjustments | (24) | (97) | [1] | 67 | [1] | |||||||||||||||||
Income tax benefit from continuing operations | (1,833) | (258) | [1] | (123) | [1] | |||||||||||||||||
Net Income (Loss) Attributable to Parent | 954 | 995 | [1] | 1,189 | [1] | |||||||||||||||||
Less: Net income (loss) attributable to noncontrolling interest | $ 1,412 | $ (995) | [1] | $ (128) | [1] | |||||||||||||||||
Basic | $ 0.22 | $ 0.22 | $ 0.18 | $ 0.22 | $ 0.22 | [2] | $ 0.20 | $ 0.23 | $ 0.30 | $ 0.85 | $ 0.94 | [1],[2] | $ 1.11 | [1] | ||||||||
Diluted | $ 0.22 | $ 0.22 | $ 0.18 | $ 0.21 | $ 0.21 | [2] | $ 0.19 | $ 0.23 | $ 0.30 | $ 0.83 | $ 0.92 | [1],[2] | $ 1.11 | [1] | ||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $ 2,361 | $ 4 | $ 1,121 | |||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 954 | 995 | 1,189 | |||||||||||||||||||
Deferred income taxes | (1,871) | (177) | [1] | 239 | [1] | |||||||||||||||||
Increase (Decrease) in Operating Capital | (192) | (179) | [1] | (872) | [1] | |||||||||||||||||
Inventories | $ 2,055 | [1] | $ 1,453 | 2,022 | 2,055 | [1] | 1,453 | |||||||||||||||
Deferred income taxes | 5,112 | [1] | 3,315 | 5,112 | [1] | |||||||||||||||||
Total partners’ deficit | (1,694) | [1] | 24,485 | (1,196) | (1,694) | [1] | 24,485 | |||||||||||||||
Noncontrolling interest | 24,125 | [1] | $ 31,176 | 24,125 | [1] | |||||||||||||||||
Scenario, Previously Reported [Member] | ||||||||||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||||||||||
Cost of products sold | [3] | 23,652 | 28,636 | |||||||||||||||||||
Operating income (loss) | [3] | 1,884 | 2,319 | |||||||||||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | [3] | 245 | 932 | |||||||||||||||||||
Net income | [3] | 41 | 1,093 | |||||||||||||||||||
Inventory valuation adjustments | [3] | (267) | 229 | |||||||||||||||||||
Net Income (Loss) Attributable to Parent | (954) | [3] | (96) | |||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | [3] | 45 | 1,153 | |||||||||||||||||||
Increase (Decrease) in Operating Capital | [3] | 50 | 1,066 | |||||||||||||||||||
Inventories | [3] | 2,141 | 1,498 | 2,141 | 1,498 | |||||||||||||||||
Total partners’ deficit | 24,211 | [3] | 24,530 | 24,211 | [3] | 24,530 | ||||||||||||||||
Restatement Adjustment [Member] | ||||||||||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||||||||||
Cost of products sold | 41 | 32 | ||||||||||||||||||||
Operating income (loss) | (41) | (32) | ||||||||||||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (41) | (32) | ||||||||||||||||||||
Net income | (41) | (32) | ||||||||||||||||||||
Inventory valuation adjustments | 170 | (162) | ||||||||||||||||||||
Net Income (Loss) Attributable to Parent | (41) | (32) | ||||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | (41) | (32) | ||||||||||||||||||||
Increase (Decrease) in Operating Capital | 129 | (194) | ||||||||||||||||||||
Inventories | (86) | (45) | (86) | (45) | ||||||||||||||||||
Total partners’ deficit | $ (86) | $ (45) | $ (86) | $ (45) | ||||||||||||||||||
[1] | * As adjusted. See Note 2. | |||||||||||||||||||||
[2] | * As adjusted. See Note 2 and Note 3. | |||||||||||||||||||||
[3] | * Amounts reflect certain reclassifications made to conform to the current year presentation and include the impact of discontinued operations as discussed in Note 3. |
Estimates (Schedule Of Net Chan
Estimates (Schedule Of Net Changes In Operating Assets And Liabilities Included Cash Flows From Operating Activities) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Accounting Policies [Abstract] | |||||
Accounts receivable | $ (948) | $ (1,126) | $ 856 | ||
Accounts receivable from related companies | 24 | 42 | (5) | ||
Inventories | 58 | (480) | (212) | ||
Other current assets | (38) | (165) | 225 | ||
Other non-current assets, net | 84 | (148) | 247 | ||
Accounts payable | 712 | 1,170 | (1,070) | ||
Accounts payable to related companies | (178) | (64) | 400 | ||
Accrued and other current liabilities | (97) | 89 | (697) | ||
Other non-current liabilities | 106 | 106 | (241) | ||
Derivative assets and liabilities, net | 9 | 67 | 75 | ||
Net change in operating assets and liabilities, net of effects of acquisitions | $ (192) | $ (179) | [1] | $ (872) | [1] |
[1] | * As adjusted. See Note 2. |
Estimates (Schedule Of Non-Cash
Estimates (Schedule Of Non-Cash Investing And Financing Activities) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
NON-CASH INVESTING ACTIVITIES: | |||
Accrued capital expenditures | $ 1,060 | $ 848 | $ 910 |
Contribution of assets from noncontrolling interest | 988 | 0 | 34 |
Net gains (losses) from subsidiary common unit transactions | (56) | 16 | (526) |
NON-CASH FINANCING ACTIVITIES: | |||
Units issued in Merger | 236 | ||
SUPPLEMENTAL CASH FLOW INFORMATION: | |||
Cash paid for interest, net of interest capitalized | 1,914 | 1,922 | 1,800 |
Cash paid for (refund of) income taxes | 50 | 72 | |
Proceeds from Income Tax Refunds | (229) | ||
PennTex Acquisition [Member] | |||
NON-CASH FINANCING ACTIVITIES: | |||
Units issued in Merger | 307 | $ 0 | |
Limited Partner [Member] | |||
NON-CASH FINANCING ACTIVITIES: | |||
Units issued in Merger | $ 0 | ||
Limited Partner [Member] | PennTex Acquisition [Member] | |||
NON-CASH FINANCING ACTIVITIES: | |||
Units issued in Merger | $ 0 |
Estimates (Schedule of Inventor
Estimates (Schedule of Inventory) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Inventory, Net [Abstract] | ||||
Natural gas, NGLs, and refined products | $ 1,120 | $ 1,141 | ||
Crude oil | 551 | 651 | ||
Spare parts and other | 351 | 263 | ||
Total inventories | $ 2,022 | $ 2,055 | [1] | $ 1,453 |
[1] | * As adjusted. See Note 2. |
Estimates (Other Current Assets
Estimates (Other Current Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Information [Abstract] | |||
Deposits paid to vendors | $ 64 | $ 74 | |
Prepaid expenses and other | 231 | 373 | |
Total other current assets | $ 295 | $ 447 | [1] |
[1] | * As adjusted. See Note 2. |
Estimates (Property, Plant and
Estimates (Property, Plant and Equipment) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | $ 71,177 | $ 61,562 | [1] |
Less - Accumulated depreciation | (10,089) | (7,984) | [1] |
Property, Plant and Equipment, Net | 61,088 | 53,578 | [1] |
Land and Land Improvements [Member] | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 2,222 | 1,189 | |
Building and Building Improvements [Member] | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 2,786 | 2,247 | |
Pipelines [Member] | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 44,673 | 36,570 | |
Natural gas and NGL storage facilities (5 to 46 years) | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 1,681 | 1,451 | |
Bulk storage, equipment and facilities (2 to 83 years) | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 3,883 | 3,701 | |
Vehicles [Member] | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 126 | 217 | |
Right of way (20 to 83 years) | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 3,432 | 3,349 | |
Natural resources | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 434 | 434 | |
Property, Plant and Equipment, Other Types [Member] | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | 1,029 | 2,285 | |
Construction Work-In-Process [Member] | |||
Property, Plant and Equipment, Net [Abstract] | |||
Property, plant and equipment, gross | $ 10,911 | $ 10,119 | |
[1] | * As adjusted. See Note 2. |
Estimates (Schedule Of Property
Estimates (Schedule Of Property, Plant And Equipment Depreciation And Capitalized Interest Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation and depletion expense | $ 2,204 | $ 1,952 | $ 1,661 |
Capitalized interest | $ 286 | $ 201 | $ 164 |
Estimates (Schedule of Other No
Estimates (Schedule of Other Non-Current Assets, net) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Accounting Policies [Abstract] | |||
Regulatory assets | $ 85 | $ 86 | |
Deferred charges | 210 | 217 | |
Restricted funds | 192 | 190 | |
Other | 399 | 322 | |
Total other non-current assets, net | $ 886 | $ 815 | [1] |
[1] | * As adjusted. See Note 2. |
Estimates (Components Of Intang
Estimates (Components Of Intangibles And Other Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Gross Carrying Amount | $ 7,458 | $ 6,536 |
Accumulated Amortization | (1,342) | (1,024) |
Customer relationships, contracts and agreements (3 to 46 years) | ||
Gross Carrying Amount | 6,979 | 6,050 |
Accumulated Amortization | (1,277) | (971) |
Trade names (20 years) | ||
Gross Carrying Amount | 48 | 48 |
Accumulated Amortization | (26) | (21) |
Patents (10 years) | ||
Gross Carrying Amount | 66 | 66 |
Accumulated Amortization | (25) | (22) |
Total Amortizable Intangible Assets [Member] | ||
Gross Carrying Amount | 7,121 | 6,189 |
Accumulated Amortization | (1,342) | (1,024) |
Trademarks [Member] | ||
Gross Carrying Amount | 295 | 288 |
Accumulated Amortization | 0 | 0 |
Other Amortizable Intangible Assets [Member] | ||
Gross Carrying Amount | 28 | 25 |
Accumulated Amortization | (14) | (10) |
Contractual Rights [Member] | ||
Gross Carrying Amount | 42 | 59 |
Accumulated Amortization | $ 0 | $ 0 |
Estimates, Significant Accoun51
Estimates, Significant Accounting Policies and Balance Sheet Detail Estimates (Schedule of Useful Lives) (Details) (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Minimum [Member] | Customer relationships, contracts and agreements (3 to 46 years) | |
Intangible assets, useful life, minimum (years) | 3 years |
Minimum [Member] | Other (5 to 20 years) | |
Intangible assets, useful life, minimum (years) | 1 year |
Maximum [Member] | Customer relationships, contracts and agreements (3 to 46 years) | |
Intangible assets, useful life, minimum (years) | 46 years |
Maximum [Member] | Trade names (20 years) | |
Intangible assets, useful life, minimum (years) | 15 years |
Maximum [Member] | Patents (10 years) | |
Intangible assets, useful life, minimum (years) | 9 years |
Maximum [Member] | Other (5 to 20 years) | |
Intangible assets, useful life, minimum (years) | 15 years |
Buildings and improvements [Member] | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 1 year |
Buildings and improvements [Member] | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 45 years |
Pipelines And Equipment [Member] | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 5 years |
Pipelines And Equipment [Member] | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 83 years |
Natural gas and NGL storage facilities (5 to 46 years) | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 5 years |
Natural gas and NGL storage facilities (5 to 46 years) | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 46 years |
Bulk storage, equipment and facilities (2 to 83 years) | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 2 years |
Bulk storage, equipment and facilities (2 to 83 years) | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 83 years |
Tanks and other equipment (5 to 40 years) | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 5 years |
Tanks and other equipment (5 to 40 years) | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 40 years |
Retail equipment (2 to 99 years) | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 2 years |
Retail equipment (2 to 99 years) | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 99 years |
Vehicles [Member] | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 1 year |
Vehicles [Member] | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 25 years |
Right of way (20 to 83 years) | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 20 years |
Right of way (20 to 83 years) | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 83 years |
Property, Plant and Equipment, Other Types [Member] | Minimum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 1 year |
Property, Plant and Equipment, Other Types [Member] | Maximum [Member] | |
Property, plant and equipment, useful life, minimum (years) | 40 years |
Estimates (Aggregate Amortizati
Estimates (Aggregate Amortization Expense Of Intangibles And Other Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation And Amortization [Member] | |||
Reported in depreciation and amortization | $ 344 | $ 264 | $ 290 |
Estimates (Estimated Aggregate
Estimates (Estimated Aggregate Amortization Expense) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,018 | $ 341 |
2,019 | 338 |
2,020 | 336 |
2,021 | 319 |
2,022 | $ 287 |
Estimates (Schedule Of Goodwill
Estimates (Schedule Of Goodwill) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | |||
Goodwill [Roll Forward] | ||||
Goodwill | $ 5,670 | [1] | $ 6,056 | |
Goodwill acquired | 12 | 509 | ||
Goodwill | 4,768 | 5,670 | [1] | |
Goodwill impairment | (895) | (897) | ||
Goodwill, Other Changes | (19) | 2 | ||
Goodwill, Written off Related to Sale of Business Unit | 0 | |||
Investment In ETP [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill | 3,897 | 5,428 | ||
Goodwill acquired | 12 | 428 | ||
Goodwill | 3,115 | 3,897 | ||
Goodwill impairment | (793) | (670) | ||
Goodwill, Other Changes | (1) | 0 | ||
Goodwill, Written off Related to Sale of Business Unit | (1,289) | |||
Investment In Sunoco LP [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill | 1,550 | 1,694 | ||
Goodwill acquired | 0 | 81 | ||
Goodwill | 1,430 | 1,550 | ||
Goodwill impairment | (102) | |||
Goodwill, Other Changes | (18) | 2 | ||
Goodwill, Written off Related to Sale of Business Unit | 0 | |||
Investment in Lake Charles LNG [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill | 184 | 184 | ||
Goodwill acquired | 0 | 0 | ||
Goodwill | 184 | 184 | ||
Goodwill impairment | 0 | 0 | ||
Goodwill, Other Changes | 0 | 0 | ||
Goodwill, Written off Related to Sale of Business Unit | 0 | |||
Corporate, Other and Eliminations [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill | 39 | (1,250) | ||
Goodwill acquired | 0 | 0 | ||
Goodwill | 39 | 39 | ||
Goodwill impairment | 0 | 0 | ||
Goodwill, Other Changes | $ 0 | 0 | ||
Goodwill, Written off Related to Sale of Business Unit | $ 1,289 | |||
[1] | * As adjusted. See Note 2. |
Estimates (Accrued And Other Cu
Estimates (Accrued And Other Current Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Information [Abstract] | |||
Interest payable | $ 552 | $ 545 | |
Customer advances and deposits | 59 | 72 | |
Accrued capital expenditures | 1,006 | 769 | |
Accrued wages and benefits | 280 | 254 | |
Taxes payable other than income taxes | 108 | 201 | |
Income taxes payable | 180 | 0 | |
Exchanges payable | 154 | 208 | |
Other | 243 | 318 | |
Accrued and other current liabilities | $ 2,582 | $ 2,367 | [1] |
[1] | * As adjusted. See Note 2. |
Estimates (Fair Value Of Financ
Estimates (Fair Value Of Financial Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Other Assets, Fair Value Disclosure | $ 0 | |
Total liabilities | $ (560) | |
Level 1 [Member] | ||
Total liabilities | (303) | |
Level 2 [Member] | ||
Total liabilities | (257) | |
Fair Value, Measurements, Recurring [Member] | ||
Commodity derivatives: | 321 | 363 |
Other Assets, Fair Value Disclosure | 21 | 13 |
Total assets | 342 | 376 |
Interest rate derivatives | (219) | (193) |
Embedded derivatives in the ETP Convertible Preferred Units | (1) | |
Commodity derivatives: | (341) | (478) |
Total liabilities | (672) | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Commodity derivatives: | 277 | 356 |
Other Assets, Fair Value Disclosure | 14 | 8 |
Total assets | 291 | 364 |
Interest rate derivatives | 0 | 0 |
Embedded derivatives in the ETP Convertible Preferred Units | 0 | |
Commodity derivatives: | (303) | (470) |
Total liabilities | (470) | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Commodity derivatives: | 44 | 7 |
Other Assets, Fair Value Disclosure | 7 | 5 |
Total assets | 51 | 12 |
Interest rate derivatives | (219) | (193) |
Embedded derivatives in the ETP Convertible Preferred Units | 0 | |
Commodity derivatives: | (38) | (8) |
Total liabilities | (201) | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Commodity derivatives: | 0 | |
Total assets | 0 | |
Interest rate derivatives | 0 | |
Embedded derivatives in the ETP Convertible Preferred Units | (1) | |
Commodity derivatives: | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 1 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Options - Calls [Member] | ||
Commodity derivatives: | 1 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 23 | 4 |
Commodity derivatives: | (22) | (5) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Future [Member] | ||
Commodity derivatives: | 1 | |
Commodity derivatives: | (1) | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 1 [Member] | Options - Calls [Member] | ||
Commodity derivatives: | 1 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 1 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 0 | 0 |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 1 [Member] | Future [Member] | ||
Commodity derivatives: | 1 | |
Commodity derivatives: | (1) | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 2 [Member] | Options - Calls [Member] | ||
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 2 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 23 | 4 |
Commodity derivatives: | (22) | (5) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 2 [Member] | Future [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 3 [Member] | Options - Calls [Member] | ||
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 3 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Power [Member] | Level 3 [Member] | Future [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Refined Products [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 2 | |
Commodity derivatives: | (1) | (23) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Refined Products [Member] | Future [Member] | ||
Commodity derivatives: | 1 | |
Commodity derivatives: | (28) | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Refined Products [Member] | Level 1 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 2 | |
Commodity derivatives: | (1) | (23) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Refined Products [Member] | Level 1 [Member] | Future [Member] | ||
Commodity derivatives: | 1 | |
Commodity derivatives: | (28) | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Refined Products [Member] | Level 2 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Refined Products [Member] | Level 2 [Member] | Future [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Refined Products [Member] | Level 3 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Crude [Member] | Fixed Swaps/Futures [Member] | ||
Commodity derivatives: | 9 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Crude [Member] | Future [Member] | ||
Commodity derivatives: | 2 | |
Commodity derivatives: | (13) | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Crude [Member] | Level 1 [Member] | Fixed Swaps/Futures [Member] | ||
Commodity derivatives: | 9 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Crude [Member] | Level 1 [Member] | Future [Member] | ||
Commodity derivatives: | 2 | |
Commodity derivatives: | (13) | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Crude [Member] | Level 2 [Member] | Fixed Swaps/Futures [Member] | ||
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Crude [Member] | Level 2 [Member] | Future [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Crude [Member] | Level 3 [Member] | Fixed Swaps/Futures [Member] | ||
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Crude [Member] | Level 3 [Member] | Future [Member] | ||
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Commodity derivatives: | 11 | 14 |
Commodity derivatives: | (24) | (11) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Swing Swaps IFERC [Member] | ||
Commodity derivatives: | 13 | 2 |
Commodity derivatives: | (15) | (3) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Fixed Swaps/Futures [Member] | ||
Commodity derivatives: | 70 | 96 |
Commodity derivatives: | (57) | (149) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Forward Physical Swaps [Member] | ||
Commodity derivatives: | 8 | 1 |
Commodity derivatives: | 2 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 1 [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Commodity derivatives: | 11 | 14 |
Commodity derivatives: | (24) | (11) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 1 [Member] | Swing Swaps IFERC [Member] | ||
Commodity derivatives: | 0 | 0 |
Commodity derivatives: | (1) | 0 |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 1 [Member] | Fixed Swaps/Futures [Member] | ||
Commodity derivatives: | 70 | 96 |
Commodity derivatives: | (57) | (149) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 1 [Member] | Forward Physical Swaps [Member] | ||
Commodity derivatives: | 0 | 0 |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 2 [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Commodity derivatives: | 0 | 0 |
Commodity derivatives: | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 2 [Member] | Swing Swaps IFERC [Member] | ||
Commodity derivatives: | 13 | 2 |
Commodity derivatives: | (14) | (3) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 2 [Member] | Fixed Swaps/Futures [Member] | ||
Commodity derivatives: | 0 | 0 |
Commodity derivatives: | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 2 [Member] | Forward Physical Swaps [Member] | ||
Commodity derivatives: | 8 | 1 |
Commodity derivatives: | 2 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 3 [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 3 [Member] | Swing Swaps IFERC [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 3 [Member] | Fixed Swaps/Futures [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - Natural Gas [Member] | Level 3 [Member] | Forward Physical Swaps [Member] | ||
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - NGLs [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 193 | 233 |
Commodity derivatives: | (192) | (273) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - NGLs [Member] | Level 1 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 193 | 233 |
Commodity derivatives: | (192) | (273) |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - NGLs [Member] | Level 2 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 0 | 0 |
Commodity derivatives: | 0 | |
Fair Value, Measurements, Recurring [Member] | Commodity Derivatives - NGLs [Member] | Level 3 [Member] | Forward Swaps [Member] | ||
Commodity derivatives: | 0 | |
Commodity derivatives: | $ 0 |
Acquisitions and Related Tran57
Acquisitions and Related Transactions Acquisitions (2018 Transactions) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Jan. 31, 2018 | Oct. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Business Acquisition [Line Items] | |||||
Goodwill, Impairment Loss | $ 895 | $ 897 | |||
Payments to Acquire Businesses, Gross | $ 382 | ||||
Subsequent Event [Member] | CDM Contribution [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination, Consideration Transferred | $ 1,700 | ||||
Payments to Acquire Businesses, Gross | $ 1,225 | ||||
USA Compression Partners, LP [Member] | Subsequent Event [Member] | CDM Contribution [Member] | |||||
Business Acquisition [Line Items] | |||||
Sale of Stock, Number of Shares Issued in Transaction | 19,191,351 | ||||
Equity Issued in Business Combination, Fair Value Disclosure | $ 335 | ||||
USA Compression Partners, LP [Member] | Subsequent Event [Member] | CDM Contribution [Member] | Class B Units [Member] | |||||
Business Acquisition [Line Items] | |||||
Sale of Stock, Number of Shares Issued in Transaction | 6,397,965 | ||||
Equity Issued in Business Combination, Fair Value Disclosure | $ 112 | ||||
ETE [Member] | USA Compression Partners, LP [Member] | Subsequent Event [Member] | CDM Contribution [Member] | |||||
Business Acquisition [Line Items] | |||||
Sale of Stock, Number of Shares Issued in Transaction | 12,466,912 | ||||
Equity Issued in Business Combination, Fair Value Disclosure | $ 250 | ||||
Investment In Sunoco LP [Member] | |||||
Business Acquisition [Line Items] | |||||
Goodwill, Impairment Loss | 102 | ||||
Retail Divestment [Member] | |||||
Business Acquisition [Line Items] | |||||
Goodwill, Impairment Loss | $ 285 | $ 447 | $ 0 |
Acquisitions and Related Tran58
Acquisitions and Related Transactions Acquisitions (2017 Transactions) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||||||
Oct. 31, 2017 | Jul. 31, 2017 | Feb. 28, 2017 | Oct. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Feb. 01, 2017 | ||
Business Acquisition [Line Items] | |||||||||
Noncontrolling Interest, Increase from Sale of Parent Equity Interest | $ 988 | $ 779 | $ 65 | ||||||
Intangible assets, net | 5,512 | [1] | $ 6,116 | ||||||
Property, Plant and Equipment, Net | $ 53,578 | [1] | $ 61,088 | ||||||
Permian Express Partners LLC [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Percent of total equity ownership of a subsidiary | 88.00% | ||||||||
Intangible assets, net | $ 547 | ||||||||
Property, Plant and Equipment, Net | $ 435 | ||||||||
ETP [Member] | Rover Contribution [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 50.10% | ||||||||
ETP [Member] | Holdco [Member] | Rover Contribution [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.90% | ||||||||
Holdco [Member] | Rover Pipeline LLC [Member] | Rover Contribution [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 65.00% | ||||||||
Blackstone [Member] | Rover Contribution [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.90% | ||||||||
Dakota Access and ETCOC [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Percent of total equity ownership of a subsidiary | 15.00% | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 75.00% | ||||||||
Phillips 66 Company [Member] | Dakota Access and ETCOC [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 25.00% | ||||||||
Bakken Holdings Company LLC [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 40.00% | ||||||||
Bakken Holdings Company LLC [Member] | Sunoco Logistics [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.00% | ||||||||
Bakken Holdings Company LLC [Member] | ETP [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | ||||||||
Bakken Holdings Company LLC [Member] | Bakken Pipeline Investments LLC [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 200000000000.00% | ||||||||
Bakken Pipeline Investments LLC [Member] | Dakota Access and ETCOC [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 75.00% | ||||||||
[1] | * As adjusted. See Note 2. |
Acquisitions and Related Tran59
Acquisitions and Related Transactions Acquisitions (2016 Narrative) (Details) shares in Millions, barrels in Millions | 1 Months Ended | |||||||||||||
Feb. 28, 2017 | Nov. 30, 2016USD ($)barrels | Oct. 31, 2016USD ($) | Aug. 31, 2016USD ($) | Apr. 30, 2016 | Mar. 31, 2016USD ($)shares | Oct. 31, 2015USD ($) | Dec. 31, 2017USD ($) | Feb. 01, 2017 | Dec. 31, 2016USD ($) | Nov. 01, 2016USD ($) | Aug. 01, 2016USD ($) | Dec. 31, 2015USD ($) | ||
Business Acquisition [Line Items] | ||||||||||||||
Payments to Acquire Businesses, Gross | $ 382,000,000 | |||||||||||||
Property, Plant and Equipment, Net | $ 61,088,000,000 | $ 53,578,000,000 | [1] | |||||||||||
Intangible assets, net | 6,116,000,000 | 5,512,000,000 | [1] | |||||||||||
Goodwill | 4,768,000,000 | 5,670,000,000 | [1] | $ 6,056,000,000 | ||||||||||
PennTex Acquisition [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 0 | |||||||||||||
Intangible assets | 446,000,000 | |||||||||||||
Business Combination, Consideration Transferred | $ 627,000,000 | |||||||||||||
Goodwill1 | 177,000,000 | |||||||||||||
Total consideration, net of cash received | $ 606,000,000 | |||||||||||||
Vitol Acquisition [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Combination, Consideration Transferred | $ 760,000,000 | |||||||||||||
Crude Oil Terminal, Capacity, Bbls | barrels | 2 | |||||||||||||
Total consideration, net of cash received | $ 769,000,000 | |||||||||||||
Net Working Capital | 13,000,000 | |||||||||||||
Property, Plant and Equipment, Net | 286,000,000 | |||||||||||||
Intangible assets, net | 313,000,000 | |||||||||||||
Goodwill | $ 251,000,000 | |||||||||||||
Sunoco Retail to Sunoco LP [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Combination, Consideration Transferred | $ 2,230,000,000 | |||||||||||||
Payments to Acquire Businesses, Gross | $ 2,200,000,000 | |||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | shares | 5.7 | |||||||||||||
SunVit Pipeline LLC [Member] | Vitol Acquisition [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 50.00% | |||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | |||||||||||||
Sunoco LP [Member] | Emerge Energy Services [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 53,000,000 | |||||||||||||
Intangible assets | 56,000,000 | |||||||||||||
Business Combination, Consideration Transferred | $ 171,000,000 | |||||||||||||
Sunoco LP [Member] | Convenience Stores [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Combination, Consideration Transferred | $ 55,000,000 | $ 114,000,000 | ||||||||||||
Goodwill1 | 61,000,000 | |||||||||||||
Bakken Holdings Company LLC [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 40.00% | |||||||||||||
Bayou Bridge Pipeline LLC [Member] | ETP and Sunoco Logistics [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 30.00% | |||||||||||||
Dakota Access and ETCOC [Member] | Phillips 66 Company [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 25.00% | |||||||||||||
Dakota Access and ETCOC [Member] | Bakken Pipeline Investments LLC [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 75.00% | |||||||||||||
ETP [Member] | Bakken Holdings Company LLC [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | |||||||||||||
Sunoco Logistics [Member] | Bakken Holdings Company LLC [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.00% | |||||||||||||
Bakken Pipeline Investments LLC [Member] | Bakken Holdings Company LLC [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 200000000000.00% | |||||||||||||
Sunoco, LLC [Member] | ETP [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 68.42% | |||||||||||||
Legacy Sunoco, Inc. [Member] | ETP [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | |||||||||||||
Bakken Project $2.50 billion Credit Facility due August 2019 [Member] | Bakken Pipeline [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,500,000,000 | |||||||||||||
Bakken Project $2.50 billion Credit Facility due August 2019 [Member] | Bakken Project [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Long-term Line of Credit | $ 2,500,000,000 | $ 1,100,000,000 | $ 2,500,000,000 | |||||||||||
[1] | * As adjusted. See Note 2. |
Acquisitions and Related Tran60
Acquisitions and Related Transactions Acquisitions (2015 Transactions) (Details) $ in Millions, gallons in Billions | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Feb. 28, 2018shares | Feb. 28, 2017 | Oct. 31, 2015USD ($)shares | Jul. 31, 2015USD ($)shares | Apr. 30, 2015USD ($)gallonsshares | Mar. 31, 2015USD ($)shares | Mar. 31, 2015USD ($)shares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Business Acquisition [Line Items] | |||||||||||||
Payments to Acquire Businesses, Gross | $ | $ 382 | ||||||||||||
Class H Units [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Allocation of Profits, Losses and Other by Sunoco, Percent | 90.05% | ||||||||||||
Partners' Capital Account, Units | 50,200,000 | 50,200,000 | |||||||||||
Class B Units [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 9,400,000 | ||||||||||||
Dropdown of Sunoco LLC Interest [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 31.58% | ||||||||||||
Business Combination, Consideration Transferred | $ | $ 816 | ||||||||||||
Gallons of motor fuel distributed | gallons | 5.3 | ||||||||||||
Payments to Acquire Businesses, Gross | $ | $ 775 | ||||||||||||
Equity Issued in Business Combination, Fair Value Disclosure | $ | $ 41 | ||||||||||||
Dropdown of Susser [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Payments to Acquire Businesses, Gross | $ | $ 970 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ | $ 970 | ||||||||||||
Sunoco LP Exchange [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Stock Repurchased During Period, Shares | 31,500,000 | ||||||||||||
IDR Subsidies | $ | $ 35 | ||||||||||||
Term of IDR Subsidy | 10 years | ||||||||||||
Bakken Pipeline Transaction [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Business Combination, Consideration Transferred | $ | $ 879 | ||||||||||||
Partners' Capital Account, Units, Redeemed | 46,200,000 | ||||||||||||
Class I Distributions | $ | $ 55 | $ 30 | |||||||||||
Bakken Pipeline Transaction [Member] | Class H Units [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Allocation of Profits, Losses and Other by Sunoco, Percent | 90.05% | 90.05% | |||||||||||
Partners' Capital Account, Units, Redeemed | 30,800,000 | ||||||||||||
Bakken Pipeline Transaction [Member] | Class I Units [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Partners' Capital Account, Units | 100 | 100 | |||||||||||
Regency Merger [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Business Acquisition, Number Of Share Received In Exchange Of Each Share | 0.6186 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 258,300,000 | ||||||||||||
Relinquishment of Incentive Distributions | $ | $ 60 | $ 80 | |||||||||||
Susser [Member] | Dropdown of Susser [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | ||||||||||||
Sunoco LP [Member] | Dropdown of Susser [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 22,000,000 | ||||||||||||
Sunoco LP [Member] | Dropdown of Susser [Member] | Class A Units [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 79,308 | ||||||||||||
Sunoco GP [Member] | Sunoco LP Exchange [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | ||||||||||||
Bakken Holdings Company LLC [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 40.00% | ||||||||||||
Dakota Access and ETCOC [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 75.00% | ||||||||||||
ETP [Member] | Sunoco LP [Member] | Dropdown of Susser [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 10,900,000 | ||||||||||||
ETP [Member] | Bakken Holdings Company LLC [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | ||||||||||||
Parent Company [Member] | Bakken Pipeline Transaction [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 45.00% | ||||||||||||
ETP Subsidiaries [Member] | Regency Merger [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 23,300,000 | ||||||||||||
ETP Series A Preferred Units [Member] | Regency Merger [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,900,000 | ||||||||||||
Subsequent Event [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Relinquishment of Incentive Distributions | $ | $ 33 | $ 128 | $ 153 | ||||||||||
Subsequent Event [Member] | Regency Merger [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Relinquishment of Incentive Distributions | $ | $ 320 | ||||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Stock Repurchased During Period, Shares | 17,286,859 |
Acquisitions (Schedule Of Asset
Acquisitions (Schedule Of Assets Acquired And Liabilities Assumed In Acquisition Table) (Details) - PennTex Acquisition [Member] $ in Millions | Nov. 01, 2016USD ($) |
Business Acquisition [Line Items] | |
Current assets | $ 34 |
Property, plant and equipment | 393 |
Goodwill1 | 177 |
Intangible assets | 446 |
Total assets acquired | 1,050 |
Current liabilities | 6 |
Long-term debt obligations, less current maturities | 164 |
Other non-current liabilities | 17 |
Noncontrolling interest | 236 |
Total liabilities assumed | 423 |
Total consideration | 627 |
Cash received | 21 |
Total consideration, net of cash received | $ 606 |
Acquisitions and Related Tran62
Acquisitions and Related Transactions Acquisitions (Schedule of Discontinued Operations) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Revenue | $ 6,964 | $ 5,712 | $ 6,030 | ||
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | 5,806 | 4,649 | 5,026 | ||
Disposal Group, Including Discontinued Operation, Operating Expense | 763 | 744 | 705 | ||
Disposal Group, Including Discontinued Operation, Depreciation and Amortization | 34 | 143 | 128 | ||
Disposal Group, Including Discontinued Operation, General and Administrative Expense | 168 | 114 | 91 | ||
Goodwill, Impairment Loss | 895 | 897 | |||
Disposal Group, Including Discontinued Operations, Total Costs and Expenses | 7,056 | 6,097 | 5,950 | ||
Disposal Group, Including Discontinued Operation, Operating Income (Loss) | (92) | (385) | 80 | ||
Disposal Group, Including Discontinued Operation, Interest Expense | 36 | 28 | 21 | ||
Disposal Group, Including Discontinued Operation, Other Expense | 1 | 8 | (2) | ||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | (129) | (421) | 61 | ||
Discontinued Operation, Tax Effect of Discontinued Operation | 48 | 41 | 23 | ||
Income (loss) from discontinued operations, net of income taxes | (177) | (462) | [1] | 38 | [1] |
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents | 21 | 16 | |||
Disposal Group, Including Discontinued Operation, Inventory | 149 | 150 | |||
Disposal Group, Including Discontinued Operation, Other Assets, Current | 16 | 11 | |||
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 1,851 | 1,860 | |||
Disposal Group, Including Discontinued Operation, Goodwill | 796 | 1,068 | |||
Disposal Group, Including Discontinued Operation, Intangible Assets | 477 | 480 | |||
Disposal Group, Including Discontinued Operation, Other Assets | 3 | 3 | |||
Disposal Group, Including Discontinued Operation, Assets | 3,313 | 3,588 | |||
Disposal Group, Including Discontinued Operation, Liabilities | 75 | 48 | |||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | (6) | (12) | 1 | ||
Retail Divestment [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Goodwill, Impairment Loss | $ 285 | $ 447 | $ 0 | ||
[1] | * As adjusted. See Note 2. |
Advances to and Investments i63
Advances to and Investments in Unconsolidated Affiliates Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||||
Oct. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | [1] | Dec. 31, 2015 | ||
Impairment of investments in unconsolidated affiliates | $ 313 | $ 308 | $ 0 | [1] | ||
Impairment losses | 1,039 | 1,040 | 339 | [1] | ||
Payments to Acquire Businesses, Gross | $ 382 | |||||
Proceeds from the sale of other assets | 48 | 35 | 14 | [1] | ||
Advances to and investments in unconsolidated affiliates | 2,705 | 3,040 | 3,462 | |||
Goodwill | 4,768 | 5,670 | 6,056 | |||
Equity in earnings from unconsolidated affiliates | $ 144 | $ 270 | $ 276 | [1] | ||
Citrus [Member] | ||||||
Interest ownership | 50.00% | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 50.00% | |||||
FGT [Member] | ||||||
Percentage Ownership Operating Facility | 100.00% | |||||
Fayetteville Express Pipeline, LLC [Member] | ||||||
Interest ownership | 50.00% | |||||
FEP [Member] | ||||||
Impairment of investments in unconsolidated affiliates | $ 141 | |||||
Midcontinent Express Pipeline, LLC [Member] | ||||||
Interest ownership | 50.00% | |||||
RIGS Haynesville Partnership Co. [Member] | ||||||
Interest ownership | 49.99% | |||||
Impairment of investments in unconsolidated affiliates | $ (172) | |||||
Impairment losses | $ 185 | |||||
[1] | * As adjusted. See Note 2. |
Advances to and Investments i64
Advances to and Investments in Unconsolidated Affiliates Investment in Affiliates (Carrying Values) (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Equity in earnings from unconsolidated affiliates | $ 144 | $ 270 | [1] | $ 276 | [1] | |
Advances to and investments in unconsolidated affiliates | 2,705 | 3,040 | [1] | 3,462 | ||
Citrus [Member] | ||||||
Equity in earnings from unconsolidated affiliates | 144 | 102 | 97 | |||
Advances to and investments in unconsolidated affiliates | 1,754 | 1,729 | ||||
FEP [Member] | ||||||
Equity in earnings from unconsolidated affiliates | 53 | 51 | 55 | |||
Advances to and investments in unconsolidated affiliates | 121 | 101 | ||||
MEP [Member] | ||||||
Equity in earnings from unconsolidated affiliates | 38 | 40 | 45 | |||
Advances to and investments in unconsolidated affiliates | 242 | 318 | ||||
RIGS Haynesville Partnership Co. [Member] | ||||||
Equity in earnings from unconsolidated affiliates | [2] | (168) | 31 | 32 | ||
Advances to and investments in unconsolidated affiliates | 28 | 382 | ||||
Other Affiliates [Member] | ||||||
Equity in earnings from unconsolidated affiliates | 77 | 46 | $ 47 | |||
Advances to and investments in unconsolidated affiliates | $ 560 | $ 510 | ||||
[1] | * As adjusted. See Note 2. | |||||
[2] | For the year ended December 31, 2017, equity in earnings (losses) of unconsolidated affiliates includes the impact of non-cash impairments recorded by HPC, which reduced the Partnership’s equity in earnings by $185 million. |
Investments in Affiliates (Summ
Investments in Affiliates (Summarized Balance Sheet Information) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Investment In Affiliates [Abstract] | ||
Current assets | $ 206 | $ 214 |
Property, plant and equipment, net | 8,336 | 8,726 |
Other assets | 43 | 181 |
Total assets | 8,585 | 9,121 |
Current Liabilities | 861 | 816 |
Non-current liabilities | 4,492 | 4,940 |
Equity | 3,232 | 3,365 |
Total liabilities and equity | $ 8,585 | $ 9,121 |
Investments in Affiliates (Su66
Investments in Affiliates (Summarized Income Statement Information) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investment In Affiliates [Abstract] | |||
Revenues | $ 1,358 | $ 1,164 | $ 1,385 |
Operating Income | 407 | 714 | 800 |
Net income | $ 145 | $ 384 | $ 470 |
Net Income Per Limited Partne67
Net Income Per Limited Partner Unit (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Earnings Per Share [Abstract] | |||||
Income from continuing operations | $ 2,543 | $ 462 | $ 1,023 | ||
Less: Income (loss) from continuing operations attributable to noncontrolling interest | 1,583 | (545) | (165) | ||
Income from continuing operations, net of noncontrolling interest | 960 | 1,007 | 1,188 | ||
Less: General Partner’s interest in income from continuing operations | 2 | 3 | 3 | ||
Convertible Unitholders’ interest in net income | 38 | 8 | 0 | ||
Less: Class D Unitholder’s interest in income from continuing operations | 0 | 0 | 3 | ||
Income from continuing operations available to Limited Partners | 920 | 996 | 1,182 | ||
Dilutive effect of equity-based compensation of subsidiaries, distributions to Class D Unitholder and Convertible Units | 38 | 8 | 3 | ||
Diluted income from continuing operations available to Limited Partners | $ 958 | $ 1,004 | $ 1,185 | ||
Weighted average limited partner units | 1,078.2 | 1,045.5 | 1,062.8 | ||
Basic income from continuing operations per Limited Partner unit | $ 0.86 | $ 0.95 | [1] | $ 1.11 | [1] |
Basic income (loss) from discontinued operations per Limited Partner unit | $ (0.01) | $ (0.01) | $ 0 | ||
Dilutive effect of unconverted unit awards and Convertible Units | 72.6 | 33.1 | 1.6 | ||
Weighted average limited partner units, assuming dilutive effect of unvested unit awards | 1,150.8 | 1,078.6 | 1,064.4 | ||
Diluted income from continuing operations per Limited Partner unit | $ 0.84 | $ 0.93 | [1] | $ 1.11 | [1] |
Diluted income (loss) from discontinued operations per Limited Partner unit | $ (0.01) | $ (0.01) | $ 0 | ||
[1] | * As adjusted. See Note 2. |
Debt Obligations Debt Obligat68
Debt Obligations Debt Obligations (Schedule Of Debt Obligations) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Aug. 01, 2016 | Apr. 30, 2016 | ||
Debt Instrument [Line Items] | ||||||
Capital Lease Obligations | $ 113 | $ 118 | ||||
Debt Instrument, Unamortized Discount (Premium), Net | 197 | |||||
Other Long-term Debt | 8 | 31 | ||||
Long-term Debt | 44,084 | 43,802 | ||||
Current maturities of long-term debt | 413 | 1,194 | [1] | |||
Long-term debt, less current maturities | 43,671 | 42,608 | [1] | |||
Parent Company [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Unamortized Discount (Premium), Net | 11 | 15 | ||||
Deferred Finance Costs, Noncurrent, Net | (34) | (30) | ||||
Long-term Debt | 6,700 | 6,357 | ||||
Long-term debt, less current maturities | 6,700 | 6,358 | ||||
Parent Company [Member] | ETE 7.5% Senior Notes due 2020 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,187 | 1,187 | ||||
Parent Company [Member] | 5.875% Senior Notes due January 15, 2024 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,150 | 1,150 | ||||
Parent Company [Member] | 5.5% Senior Notes due June 1, 2027 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,000 | 1,000 | ||||
Parent Company [Member] | 4.25% Senior Notes due March 15, 2023 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,000 | 0 | ||||
Parent Company [Member] | ETE Senior Secured Term Loan due December 2, 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Secured Debt | 0 | 2,190 | ||||
Parent Company [Member] | ETE Senior Secured Term Loan due February 2, 2024 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Secured Debt | 1,220 | 0 | ||||
Parent Company [Member] | ETE Senior Secured Revolving Credit Facility due December 18, 2018 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 0 | 875 | ||||
Parent Company [Member] | ETE Senior Secured Revolving Credit Facility due March 24, 2022 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 1,188 | 0 | ||||
ETP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Unamortized Discount (Premium), Net | 33 | 66 | ||||
Deferred Finance Costs, Noncurrent, Net | (170) | (166) | ||||
Long-term Debt | 29,210 | 29,454 | ||||
ETP [Member] | 7.60% Senior Notes, due February 1, 2024 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 277 | 277 | ||||
ETP [Member] | 4.05% Senior Notes due March 2025 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,000 | 1,000 | ||||
ETP [Member] | 4.75% Senior Notes due January 2026 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,000 | 1,000 | ||||
ETP [Member] | 8.25% Senior Notes, due November 14, 2029 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 267 | 267 | ||||
ETP [Member] | 4.90% Senior Notes due March 2035 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 500 | 500 | ||||
ETP [Member] | 6.625% Senior Notes, due October 15, 2036 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 400 | 400 | ||||
ETP [Member] | 7.5% Senior Notes, due July 1, 2038 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 550 | 550 | ||||
ETP [Member] | Senior Notes 6.05% Due June 1, 2041 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 700 | 700 | ||||
ETP [Member] | Senior Notes 6.50% Due February 1, 2042 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,000 | 1,000 | ||||
ETP [Member] | 5.15% Senior Notes due February 1, 2043 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 450 | 450 | ||||
ETP [Member] | 5.95% Senior Notes due October 1, 2043 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 450 | 450 | ||||
ETP [Member] | 5.15% Senior Notes due March 2045 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,000 | 1,000 | ||||
ETP [Member] | 6.125% Senior Notes due December 2045 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,000 | 1,000 | ||||
ETP [Member] | 5.30% Senior Notes due April 2047 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 900 | 0 | ||||
ETP [Member] | 5.40% Senior Notes due October 1, 2047 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,500 | 0 | ||||
ETP [Member] | 7.2% Junior Subordinated Notes due November 21, 2066 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Junior Subordinated Notes | 546 | 546 | ||||
ETP [Member] | ETP Credit Facility due December 2022 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 2,292 | 0 | ||||
ETP [Member] | ETP Credit Facility due November 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 0 | 2,777 | ||||
ETP [Member] | 6.125% Senior Notes, due February 15, 2017 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 0 | 400 | ||||
ETP [Member] | 2.50% Senior Notes due June 2018 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | [2] | 650 | 650 | |||
ETP [Member] | 6.7% Senior Notes, due July 1, 2018 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | [2] | 600 | 600 | |||
ETP [Member] | 9.7% Senior Notes, due March 15, 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 400 | 400 | ||||
ETP [Member] | 9.0% Senior Notes due April 15, 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 450 | 450 | ||||
ETP [Member] | 5.75% Senior Notes due September 1, 2020 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 400 | 400 | ||||
ETP [Member] | 4.15% Senior Notes due October 1, 2020 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,050 | 1,050 | ||||
ETP [Member] | 5.875% Senior Notes due April 1, 2022 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 900 | 900 | ||||
ETP [Member] | 5.5% Senior Notes, due April 15, 2023 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 0 | 700 | ||||
ETP [Member] | 4.5% Senior Notes due November 1, 2023 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 600 | 600 | ||||
ETP [Member] | 4.9% Senior Notes due February 1, 2024 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 350 | 350 | ||||
ETP [Member] | 6.5% Senior Notes due May 15, 2021 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 0 | 500 | ||||
ETP [Member] | Senior Notes 4.65% Due June 1, 2021 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 800 | 800 | ||||
ETP [Member] | Senior Notes 5.20% Due February 1, 2022 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,000 | 1,000 | ||||
ETP [Member] | 5.0% Senior Notes due October 1, 2022 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 700 | 700 | ||||
ETP [Member] | 3.6% Senior Notes due February 1, 2023 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 800 | 800 | ||||
ETP [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | [3] | 50 | 0 | |||
Sunoco [Member] | 5.75% Senior Notes, due 2017 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 0 | 400 | ||||
Sunoco [Member] | 9.00% Debentures, due 2024 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Subordinated Debt | 65 | 65 | ||||
Sunoco Logistics [Member] | 5.50% Senior Notes, due February 15, 2020 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 250 | 250 | ||||
Sunoco Logistics [Member] | Senior Note 4.65% Due February 15, 2022 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 300 | 300 | ||||
Sunoco Logistics [Member] | 3.45% Senior Notes due January 2023 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 350 | 350 | ||||
Sunoco Logistics [Member] | 6.85% Senior Notes, due February 15, 2040 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 250 | 250 | ||||
Sunoco Logistics [Member] | 4.25% Senior Notes due April 1, 2024 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 500 | 500 | ||||
Sunoco Logistics [Member] | 5.95% Senior Notes due December 2025 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 400 | 400 | ||||
Sunoco Logistics [Member] | 3.90% Senior Notes due July 15, 2026 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 550 | 550 | ||||
Sunoco Logistics [Member] | 4.20% Senior Notes due April 2027 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 600 | 0 | ||||
Sunoco Logistics [Member] | 4.00% Senior Notes due October 1, 2027 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 750 | 0 | ||||
Sunoco Logistics [Member] | Senior Note 6.10%, due February 15, 2042 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 300 | 300 | ||||
Sunoco Logistics [Member] | 5.30% Senior Notes due April 1, 2044 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 700 | 700 | ||||
Sunoco Logistics [Member] | 5.35% Senior Notes due May 15, 2045 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 800 | 800 | ||||
Sunoco Logistics [Member] | 4.95% Senior Notes due January 2043 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 350 | 350 | ||||
Sunoco Logistics [Member] | Sunoco Logistics' $2.5 billion revolving credit facility due March 2020 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 0 | 1,292 | ||||
Sunoco Logistics [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 0 | 630 | ||||
Bakken Project [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Deferred Finance Costs, Noncurrent, Net | (8) | (13) | ||||
Long-term Debt | 2,492 | 1,087 | ||||
Bakken Project [Member] | Bakken Project $2.50 billion Credit Facility due August 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 2,500 | 1,100 | $ 2,500 | |||
PennTex [Member] | PennTex $275 million Revolving Credit Facility due December 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 0 | 168 | ||||
Sunoco LP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Deferred Finance Costs, Noncurrent, Net | (34) | (47) | ||||
Long-term Debt | 4,287 | 4,514 | ||||
Sunoco LP [Member] | 5.5% Senior Notes due August 2020 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 600 | 600 | ||||
Sunoco LP [Member] | 6.375% Senior Notes due April 2023 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 800 | 800 | ||||
Sunoco LP [Member] | 6.25% Senior Notes due 2021 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 800 | 800 | $ 800 | |||
Sunoco LP [Member] | Sunoco LP $1.5 Billion Revolving Credit Facility Due September 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 765 | 1,000 | ||||
Sunoco LP [Member] | Term loan due 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Line of Credit | 1,243 | 1,243 | ||||
Long-term Debt | 2,035 | |||||
Transwestern [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Deferred Finance Costs, Noncurrent, Net | (1) | (1) | ||||
Long-term Debt | 574 | 656 | ||||
Transwestern [Member] | 5.64% Senior Unsecured Notes, due May 24, 2017 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 0 | 82 | ||||
Transwestern [Member] | 5.36% Senior Unsecured Notes, due December 9, 2020 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 175 | 175 | ||||
Transwestern [Member] | 5.89% Senior Unsecured Notes, due May 24, 2022 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 150 | 150 | ||||
Transwestern [Member] | 5.66% Senior Unsecured Notes, due December 9, 2024 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 175 | 175 | ||||
Transwestern [Member] | 6.16% Senior Unsecured Notes, due May 24, 2037 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 75 | 75 | ||||
Panhandle [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Unamortized Discount (Premium), Net | (28) | (50) | ||||
Long-term Debt | 813 | 1,135 | ||||
Panhandle [Member] | 7.60% Senior Notes, due February 1, 2024 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 82 | 82 | ||||
Panhandle [Member] | 8.25% Senior Notes, due November 14, 2029 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 33 | 33 | ||||
Panhandle [Member] | 7.2% Junior Subordinated Notes due November 21, 2066 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Junior Subordinated Notes | 54 | 54 | ||||
Panhandle [Member] | 6.20% Senior Notes, due November 1, 2017 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 0 | 300 | ||||
Panhandle [Member] | 7.00% Senior Notes, due June 15, 2018 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 400 | 400 | ||||
Panhandle [Member] | 8.125% Senior Notes, due June 1, 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 150 | 150 | ||||
Panhandle [Member] | 7.00% Senior Notes, due July 15, 2029 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | $ 66 | $ 66 | ||||
[1] | * As adjusted. See Note 2. | |||||
[2] | As of December 31, 2017 ETP’s management had the intent and ability to refinance the $650 million 2.50% senior notes due June 15, 2018 and the $600 million 6.70% senior notes due July 1, 2018, and therefore neither was classified as current. | |||||
[3] | Borrowings under 364-day credit facilities were classified as long-term debt based on the Partnership’s ability and intent to refinance such borrowings on a long-term basis. |
Debt Obligations Debt Obligat69
Debt Obligations Debt Obligations (Future Maturities of Long-Term Debt) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Debt Obligations [Abstract] | |
2,018 | $ 1,705 |
2,019 | 5,512 |
2,020 | 3,667 |
2,021 | 2,205 |
2,022 | 6,540 |
Thereafter | 24,652 |
Long-term Debt | $ 44,281 |
Debt Obligations (Debt Narrativ
Debt Obligations (Debt Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2018 | Jan. 31, 2017 | Apr. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Aug. 01, 2016 | Apr. 30, 2015 | ||||
Noncontrolling interest | $ 31,176 | $ 24,125 | [1] | ||||||||
Less: Net income (loss) attributable to noncontrolling interest | 1,412 | (995) | [1] | $ (128) | [1] | ||||||
Proceeds from Issuance of Private Placement | $ 580 | ||||||||||
Repayments of Long-term Debt | 31,268 | 19,076 | [1] | 19,828 | [1] | ||||||
Long-term Debt | 44,084 | 43,802 | |||||||||
Proceeds from borrowings | 31,608 | 25,785 | [1] | 26,455 | [1] | ||||||
Advances to and investments in unconsolidated affiliates | 2,705 | 3,040 | [1] | 3,462 | |||||||
Equity in earnings from unconsolidated affiliates | 144 | 270 | [1] | 276 | [1] | ||||||
Parent Company [Member] | |||||||||||
Repayments of Long-term Debt | 1,881 | 210 | 1,985 | ||||||||
Long-term Debt | 6,700 | 6,357 | |||||||||
Proceeds from borrowings | 2,219 | 225 | 3,672 | ||||||||
Advances to and investments in unconsolidated affiliates | 6,082 | 5,088 | |||||||||
Equity in earnings from unconsolidated affiliates | $ 1,381 | 1,511 | 1,601 | ||||||||
Parent Company [Member] | ETE Senior Secured Term Loan due February 2, 2024 [Member] | |||||||||||
Debt Instrument, Covenant Description | Under certain circumstances and subject to certain reinvestment rights, the Parent Company is required to prepay the term loan in connection with dispositions of (a) IDRs in (i) prior to the consummation of the Sunoco Logistics Merger, ETP , and (ii) upon and after the consummation of the Sunoco Logistics Merger, Sunoco Logistics ; or (b) equity interests of any person which owns, directly or indirectly, IDRs in (i) prior to the consummation of the Sunoco Logistics Merger, ETP, and (ii) upon and after the consummation of the Sunoco Logistics Merger, Sunoco Logistics, in each case, with a percentage ranging from 50% to 75% of such net proceeds in excess of $50 million. | ||||||||||
Debt Instrument, Collateral | Under the Term Credit Agreement, the obligations of the Parent Company are secured by a lien on substantially all of the Parent Company’s and certain of its subsidiaries’ tangible and intangible assets including (i) approximately 27.5 million common units representing limited partner interests in ETP owned by the Partnership; and (ii) the Partnership’s 100% equity interest in Energy Transfer Partners, L.L.C. and Energy Transfer Partners GP, L.P., through which the Partnership indirectly holds all of the outstanding general partnership interests and IDRs in ETP. The Term Loan Facility initially is not guaranteed by any of the Partnership’s subsidiaries | ||||||||||
Debt Instrument, Maturity Date | Feb. 2, 2024 | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,200 | ||||||||||
Parent Company [Member] | ETE Senior Secured Revolving Credit Facility due March 24, 2022 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | 312 | ||||||||||
Outstanding borrowings | $ 1,188 | 0 | |||||||||
Debt Instrument, Maturity Date | Mar. 24, 2022 | ||||||||||
Parent Company [Member] | ETE Senior Secured Revolving Credit Facility due December 18, 2018 [Member] | |||||||||||
Outstanding borrowings | $ 0 | 875 | |||||||||
Parent Company [Member] | 4.25% Senior Notes due March 15, 2023 [Member] | |||||||||||
Senior Notes | 1,000 | 0 | |||||||||
Proceeds from Issuance of Senior Long-term Debt | $ 990 | ||||||||||
Debt instrument, interest rate, stated percentage | 4.25% | ||||||||||
Debt Instrument, Maturity Date | Mar. 15, 2023 | ||||||||||
Parent Company [Member] | 5.5% Senior Notes due June 1, 2027 [Member] | |||||||||||
Senior Notes | $ 1,000 | 1,000 | |||||||||
Debt instrument, interest rate, stated percentage | 5.50% | ||||||||||
Debt Instrument, Maturity Date | Jun. 1, 2027 | ||||||||||
Parent Company [Member] | 5.875% Senior Notes due January 15, 2024 [Member] | |||||||||||
Senior Notes | $ 1,150 | 1,150 | |||||||||
Debt instrument, interest rate, stated percentage | 5.88% | ||||||||||
Debt Instrument, Maturity Date | Jan. 15, 2024 | ||||||||||
Parent Company [Member] | ETE Senior Secured Term Loan due December 2, 2019 [Member] | |||||||||||
Debt Instrument, Maturity Date | Dec. 2, 2019 | ||||||||||
PennTex [Member] | PennTex $275 million Revolving Credit Facility due December 2019 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 275 | ||||||||||
Outstanding borrowings | 0 | 168 | |||||||||
Sunoco [Member] | 5.75% Senior Notes, due 2017 [Member] | |||||||||||
Senior Notes | $ 0 | 400 | |||||||||
Debt instrument, interest rate, stated percentage | 5.75% | ||||||||||
Debt Instrument, Maturity Date | Jan. 15, 2017 | ||||||||||
Panhandle [Member] | |||||||||||
Long-term Debt | $ 813 | 1,135 | |||||||||
Junior Subordinated Notes, Noncurrent | $ 54 | ||||||||||
Panhandle [Member] | 3.26% Junior Subordinated Notes due November 1, 2066 [Member] | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.39% | ||||||||||
Panhandle [Member] | Junior Subordinated Debt [Member] | |||||||||||
Debt Instrument, Description of Variable Rate Basis | three-month LIBOR rate plus 3.0175% | ||||||||||
ETP [Member] | |||||||||||
Proceeds from Issuance of Private Placement | $ 568 | ||||||||||
Long-term Debt | $ 29,210 | 29,454 | |||||||||
ETP [Member] | ETP Credit Facility due December 2022 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | 1,560 | ||||||||||
Letters of Credit Outstanding, Amount | 150 | ||||||||||
Outstanding borrowings | 2,292 | 0 | |||||||||
Long-term Commercial Paper, Noncurrent | 2,010 | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,000 | ||||||||||
Line of Credit Facility, Interest Rate at Period End | 2.48% | ||||||||||
ETP [Member] | 2.50% Senior Notes due June 2018 [Member] | |||||||||||
Senior Notes | [2] | $ 650 | 650 | ||||||||
Debt instrument, interest rate, stated percentage | 2.50% | ||||||||||
Debt Instrument, Maturity Date | Jun. 15, 3028 | ||||||||||
ETP [Member] | 6.7% Senior Notes, due July 1, 2018 [Member] | |||||||||||
Senior Notes | [2] | $ 600 | 600 | ||||||||
Debt instrument, interest rate, stated percentage | 6.70% | ||||||||||
Debt Instrument, Maturity Date | Jul. 1, 2018 | ||||||||||
ETP [Member] | 3.26% Junior Subordinated Notes due November 1, 2066 [Member] | |||||||||||
Debt instrument, interest rate, stated percentage | 7.20% | ||||||||||
Debt Instrument, Maturity Date | Nov. 1, 2066 | ||||||||||
ETP [Member] | 4.25% Senior Notes due April 1, 2024 [Member] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.25% | ||||||||||
Debt Instrument, Maturity Date | Apr. 1, 2024 | ||||||||||
ETP [Member] | 5.875% Senior Notes due April 1, 2022 [Member] | |||||||||||
Senior Notes | $ 900 | 900 | |||||||||
Debt instrument, interest rate, stated percentage | 5.88% | ||||||||||
Debt Instrument, Maturity Date | Mar. 1, 2022 | ||||||||||
ETP [Member] | 5.0% Senior Notes due October 1, 2022 [Member] | |||||||||||
Senior Notes | $ 700 | 700 | |||||||||
Debt instrument, interest rate, stated percentage | 5.00% | ||||||||||
Debt Instrument, Maturity Date | Oct. 1, 2022 | ||||||||||
ETP [Member] | 4.40% Senior Notes due April 2021 [Member] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.40% | ||||||||||
Debt Instrument, Maturity Date | Apr. 1, 2021 | ||||||||||
ETP [Member] | 3.90% Senior Notes due July 15, 2026 [Member] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.90% | ||||||||||
Debt Instrument, Maturity Date | Jul. 15, 2026 | ||||||||||
ETP [Member] | ETP Credit Facility due November 2019 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 3,750 | ||||||||||
Outstanding borrowings | 0 | 2,777 | |||||||||
ETP [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | 950 | ||||||||||
Outstanding borrowings | [3] | 50 | 0 | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000 | ||||||||||
Line of Credit Facility, Interest Rate at Period End | 5.00% | ||||||||||
ETP [Member] | Minimum [Member] | ETP Credit Facility due December 2022 [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.125% | ||||||||||
ETP [Member] | Minimum [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.125% | ||||||||||
ETP [Member] | Maximum [Member] | ETP Credit Facility due December 2022 [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.30% | ||||||||||
ETP [Member] | Maximum [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.225% | ||||||||||
Sunoco Logistics [Member] | 5.35% Senior Notes due May 15, 2045 [Member] | |||||||||||
Senior Notes | $ 800 | 800 | |||||||||
Sunoco Logistics [Member] | 4.25% Senior Notes due April 1, 2024 [Member] | |||||||||||
Senior Notes | 500 | 500 | |||||||||
Sunoco Logistics [Member] | 4.40% Senior Notes due April 2021 [Member] | |||||||||||
Senior Notes | 600 | 600 | |||||||||
Sunoco Logistics [Member] | 3.90% Senior Notes due July 15, 2026 [Member] | |||||||||||
Senior Notes | 550 | 550 | |||||||||
Sunoco Logistics [Member] | Sunoco Logistics' $2.5 billion revolving credit facility due March 2020 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | 2,500 | ||||||||||
Outstanding borrowings | 0 | 1,292 | |||||||||
Sunoco Logistics [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | 1,000 | ||||||||||
Outstanding borrowings | 0 | 630 | |||||||||
Bakken Project [Member] | |||||||||||
Long-term Debt | 2,492 | 1,087 | |||||||||
Bakken Project [Member] | Bakken Project $2.50 billion Credit Facility due August 2019 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | 2,500 | ||||||||||
Outstanding borrowings | $ 2,500 | 1,100 | $ 2,500 | ||||||||
Line of Credit Facility, Interest Rate at Period End | 3.00% | ||||||||||
ETP GP [Member] | |||||||||||
Noncontrolling interest | $ 28,020 | 18,410 | |||||||||
Less: Net income (loss) attributable to noncontrolling interest | 1,080 | (660) | $ 325 | ||||||||
Sunoco LP [Member] | |||||||||||
Long-term Debt | 4,287 | 4,514 | |||||||||
Sunoco LP [Member] | Term loan due 2019 [Member] | |||||||||||
Long-term Debt | 2,035 | ||||||||||
Outstanding borrowings | 1,243 | 1,243 | |||||||||
Sunoco LP [Member] | Sunoco LP $1.5 Billion Revolving Credit Facility Due September 2019 [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | 1,500 | $ 1,250 | |||||||||
Letters of Credit Outstanding, Amount | 9 | ||||||||||
Outstanding borrowings | 765 | 1,000 | |||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 726 | ||||||||||
Sunoco LP [Member] | 5.5% Senior Notes due August 2020 [Member] | |||||||||||
Senior Notes | $ 600 | 600 | |||||||||
Debt instrument, interest rate, stated percentage | 5.50% | ||||||||||
Debt Instrument, Maturity Date | Aug. 1, 2020 | ||||||||||
Sunoco LP [Member] | 6.375% Senior Notes due April 2023 [Member] | |||||||||||
Senior Notes | $ 800 | 800 | |||||||||
Debt instrument, interest rate, stated percentage | 6.375% | ||||||||||
Debt Instrument, Maturity Date | Apr. 1, 2023 | ||||||||||
Sunoco LP [Member] | 6.25% Senior Notes due 2021 [Member] | |||||||||||
Senior Notes | $ 800 | $ 800 | $ 800 | ||||||||
Debt instrument, interest rate, stated percentage | 6.25% | 6.25% | |||||||||
Proceeds from borrowings | $ 789 | ||||||||||
Debt Instrument, Maturity Date | Apr. 15, 2021 | ||||||||||
Sunoco LP [Member] | Leverage Ratio [Member] | |||||||||||
Debt Instrument, Covenant Description | The Sunoco LP Credit Facilities require Sunoco LP to maintain a leverage ratio (as defined therein) of not more than (a) as of the last day of each fiscal quarter through December 31, 2017, 6.75 to 1.0, (b) as of March 31, 2018, 6.5 to 1.0, (c) as of June 30, 2018, 6.25 to 1.0, (d) as of September 30, 2018, 6.0 to 1.0, (e) as of December 31, 2018, 5.75 to 1.0 and (f) thereafter, 5.5 to 1.0 (in the case of the quarter ending March 31, 2019 and thereafter, subject to increases to 6.0 to 1.0 in connection with certain specified acquisitions in excess of $50 million, as permitted under the Credit Facilities. Indebtedness under the Credit Facilities is secured by a security interest in, among other things, all of Sunoco LP’s present and future personal property and all of the present and future personal property of its guarantors, the capital stock of its material subsidiaries (or 66% of the capital stock of material foreign subsidiaries), and any intercompany debt. Upon the first achievement by Sunoco LP of an investment grade credit rating, all security interests securing borrowings under the Credit Facilities will be released. | ||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | |||||||||||
Proceeds from Issuance of Private Placement | $ 2,200 | ||||||||||
Partners' Capital Account, Units, Treasury Units Purchased | 17,286,859 | ||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | 5.5% Senior Notes due August 2020 [Member] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.50% | ||||||||||
Early Repayment of Senior Debt | $ 600 | ||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | 4.875% senior notes due 2023 [Member] | |||||||||||
Senior Notes | $ 1,000 | ||||||||||
Debt instrument, interest rate, stated percentage | 4.875% | ||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | 5.500% senior notes due 2026 [Member] | |||||||||||
Senior Notes | $ 800 | ||||||||||
Debt instrument, interest rate, stated percentage | 5.50% | ||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | 5.875% senior notes due 2028 [Member] | |||||||||||
Senior Notes | $ 400 | ||||||||||
Debt instrument, interest rate, stated percentage | 5.875% | ||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | 6.375% Senior Notes due April 2023 [Member] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.375% | ||||||||||
Early Repayment of Senior Debt | $ 800 | ||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | 6.25% Senior Notes due 2021 [Member] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.25% | ||||||||||
Early Repayment of Senior Debt | $ 800 | ||||||||||
ETE Credit Facility [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,500 | ||||||||||
Letters Of Credit Availablity | 150 | ||||||||||
Accordion feature [Member] | ETP [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Outstanding borrowings | $ 6,000 | ||||||||||
Eurodollar [Member] | Maximum [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||||||
Eurodollar [Member] | ETP [Member] | Minimum [Member] | ETP Credit Facility due December 2022 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.125% | ||||||||||
Eurodollar [Member] | ETP [Member] | Minimum [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.125% | ||||||||||
Eurodollar [Member] | ETP [Member] | Maximum [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||||||||
Base Rate Loans [Member] | ETP [Member] | Minimum [Member] | ETP Credit Facility due December 2022 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.125% | ||||||||||
Base Rate Loans [Member] | ETP [Member] | Minimum [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | ||||||||||
Base Rate Loans [Member] | ETP [Member] | Maximum [Member] | ETP Credit Facility due December 2022 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
Base Rate Loans [Member] | ETP [Member] | Maximum [Member] | ETP $1.0 billion 364-day Credit Facility due December 2018 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||||||||||
Applicable margins for LIBOR rate loans [Member] | Minimum [Member] | ETE Senior Secured Term Loan due February 2, 2024 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | ||||||||||
Applicable margins for LIBOR rate loans [Member] | Maximum [Member] | ETE Senior Secured Term Loan due February 2, 2024 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||||||
Letter of Credit [Member] | ETE Senior Secured Term Loan due February 2, 2024 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | ||||||||||
Letter of Credit [Member] | ETE Credit Facility [Member] | Minimum [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||||||||
Letter of Credit [Member] | ETE Credit Facility [Member] | Maximum [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||||||||
Base Rate Loans [Member] | ETE Senior Secured Term Loan due February 2, 2024 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||||||||
Base Rate Loans [Member] | Minimum [Member] | ETE Senior Secured Term Loan due February 2, 2024 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||||||||
Base Rate Loans [Member] | Maximum [Member] | ETE Senior Secured Term Loan due February 2, 2024 [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
Base Rate Loans [Member] | ETE Credit Facility [Member] | Minimum [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||||||||||
Base Rate Loans [Member] | ETE Credit Facility [Member] | Maximum [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||||||||||
[1] | * As adjusted. See Note 2. | ||||||||||
[2] | As of December 31, 2017 ETP’s management had the intent and ability to refinance the $650 million 2.50% senior notes due June 15, 2018 and the $600 million 6.70% senior notes due July 1, 2018, and therefore neither was classified as current. | ||||||||||
[3] | Borrowings under 364-day credit facilities were classified as long-term debt based on the Partnership’s ability and intent to refinance such borrowings on a long-term basis. |
Debt Obligations Debt Obligat71
Debt Obligations Debt Obligations (Covenants Related To Credit Agrrements) (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Debt Instrument [Line Items] | |
Leverage Ratio Maximum | 6 |
Maximum Leverage Ratio Permitted | 7 |
Supplementary Leverage Ratio | 396.00% |
Debt instrument covenant minimum fixed charge coverage ratio | 1.5 |
ETP [Member] | |
Debt Instrument [Line Items] | |
Leverage Ratio Maximum | 5 |
Maximum Leverage Ratio Permitted | 5.5 |
Bakken Project $2.50 billion Credit Facility due August 2019 [Member] | |
Debt Instrument [Line Items] | |
Minimum debt service coverage ratio | 1.20 |
Sunoco LP $1.5 Billion Revolving Credit Facility Due September 2019 [Member] | Sunoco LP [Member] | |
Debt Instrument [Line Items] | |
Minimum interest coverage ratio | 0 |
Eurodollar [Member] | Maximum [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Basis Spread on Variable Rate | 2.00% |
Debt Obligations Debt Obligat72
Debt Obligations Debt Obligations (Interest Rates & Maturities) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Apr. 30, 2016 | |
Parent Company [Member] | |||
Deferred Finance Costs, Noncurrent, Net | $ 34 | $ 30 | |
ETP [Member] | |||
Deferred Finance Costs, Noncurrent, Net | 170 | 166 | |
Sunoco LP [Member] | |||
Deferred Finance Costs, Noncurrent, Net | 34 | 47 | |
Transwestern [Member] | |||
Deferred Finance Costs, Noncurrent, Net | $ 1 | $ 1 | |
6.375% Senior Notes due April 2023 [Member] | Sunoco LP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.375% | ||
Debt Instrument, Maturity Date | Apr. 1, 2023 | ||
6.25% Senior Notes due 2021 [Member] | Sunoco LP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | 6.25% | |
Debt Instrument, Maturity Date | Apr. 15, 2021 | ||
ETE 7.5% Senior Notes due 2020 [Member] | Parent Company [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | ||
Debt Instrument, Maturity Date | Oct. 15, 2020 | ||
5.875% Senior Notes due January 15, 2024 [Member] | Parent Company [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.88% | ||
Debt Instrument, Maturity Date | Jan. 15, 2024 | ||
5.5% Senior Notes due June 1, 2027 [Member] | Parent Company [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||
Debt Instrument, Maturity Date | Jun. 1, 2027 | ||
4.25% Senior Notes due March 15, 2023 [Member] | Parent Company [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||
Debt Instrument, Maturity Date | Mar. 15, 2023 | ||
ETE Senior Secured Term Loan due February 2, 2024 [Member] | Parent Company [Member] | |||
Debt Instrument, Maturity Date | Feb. 2, 2024 | ||
ETE Senior Secured Term Loan due December 2, 2018 [Member] | Parent Company [Member] | |||
Debt Instrument, Maturity Date | Dec. 2, 2018 | ||
ETE Senior Secured Revolving Credit Facility due March 24, 2022 [Member] | Parent Company [Member] | |||
Debt Instrument, Maturity Date | Mar. 24, 2022 | ||
ETE Senior Secured Term Loan due December 2, 2019 [Member] | Parent Company [Member] | |||
Debt Instrument, Maturity Date | Dec. 2, 2019 | ||
6.125% Senior Notes, due February 15, 2017 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.13% | ||
Debt Instrument, Maturity Date | Feb. 15, 2017 | ||
2.50% Senior Notes due June 2018 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | ||
Debt Instrument, Maturity Date | Jun. 15, 3028 | ||
6.7% Senior Notes, due July 1, 2018 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.70% | ||
Debt Instrument, Maturity Date | Jul. 1, 2018 | ||
9.7% Senior Notes, due March 15, 2019 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 9.70% | ||
Debt Instrument, Maturity Date | Mar. 15, 2019 | ||
9.0% Senior Notes due April 15, 2019 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | ||
Debt Instrument, Maturity Date | Apr. 15, 2019 | ||
4.15% Senior Notes due October 1, 2020 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.15% | ||
Debt Instrument, Maturity Date | Oct. 1, 2020 | ||
Senior Notes 4.65% Due June 1, 2021 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.65% | ||
Debt Instrument, Maturity Date | Jun. 1, 2021 | ||
Senior Notes 5.20% Due February 1, 2022 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.20% | ||
Debt Instrument, Maturity Date | Feb. 1, 2022 | ||
3.6% Senior Notes due February 1, 2023 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.60% | ||
Debt Instrument, Maturity Date | Feb. 1, 2023 | ||
4.9% Senior Notes due February 1, 2024 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | ||
Debt Instrument, Maturity Date | Feb. 1, 2024 | ||
6.625% Senior Notes, due October 15, 2036 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.63% | ||
Debt Instrument, Maturity Date | Oct. 15, 2036 | ||
4.90% Senior Notes due March 2035 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | ||
Debt Instrument, Maturity Date | Mar. 15, 2035 | ||
7.5% Senior Notes, due July 1, 2038 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | ||
Debt Instrument, Maturity Date | Jul. 1, 2038 | ||
Senior Notes 6.05% Due June 1, 2041 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.05% | ||
Debt Instrument, Maturity Date | Jun. 1, 2041 | ||
Senior Notes 6.50% Due February 1, 2042 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | ||
Debt Instrument, Maturity Date | Feb. 1, 2042 | ||
5.15% Senior Notes due February 1, 2043 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.15% | ||
Debt Instrument, Maturity Date | Feb. 1, 2043 | ||
5.95% Senior Notes due October 1, 2043 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | ||
Debt Instrument, Maturity Date | Oct. 1, 2043 | ||
5.15% Senior Notes due March 2045 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.15% | ||
Debt Instrument, Maturity Date | Mar. 15, 2045 | ||
6.125% Senior Notes due December 2045 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.13% | ||
Debt Instrument, Maturity Date | Dec. 15, 2045 | ||
5.30% Senior Notes due April 2047 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.30% | ||
Debt Instrument, Maturity Date | Apr. 1, 2047 | ||
5.40% Senior Notes due October 1, 2047 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.40% | ||
Debt Instrument, Maturity Date | Oct. 1, 2047 | ||
6.20% Senior Notes, due November 1, 2017 [Member] | Panhandle [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.20% | ||
Debt Instrument, Maturity Date | Nov. 1, 2017 | ||
7.00% Senior Notes, due June 15, 2018 [Member] | Panhandle [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | ||
Debt Instrument, Maturity Date | Jun. 15, 2018 | ||
8.125% Senior Notes, due June 1, 2019 [Member] | Panhandle [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.125% | ||
Debt Instrument, Maturity Date | Jun. 1, 2019 | ||
7.00% Senior Notes, due July 15, 2029 [Member] | Panhandle [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | ||
Debt Instrument, Maturity Date | Jul. 15, 2029 | ||
Term Loan due February 23, 2015 [Member] | Panhandle [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.84% | ||
Debt Instrument, Maturity Date | Feb. 23, 2015 | ||
5.75% Senior Notes due September 1, 2020 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | ||
Debt Instrument, Maturity Date | Sep. 1, 2020 | ||
5.875% Senior Notes due April 1, 2022 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.88% | ||
Debt Instrument, Maturity Date | Mar. 1, 2022 | ||
5.5% Senior Notes, due April 15, 2023 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||
Debt Instrument, Maturity Date | Apr. 15, 2023 | ||
4.5% Senior Notes due November 1, 2023 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | ||
Debt Instrument, Maturity Date | Nov. 1, 2023 | ||
6.5% Senior Notes due May 15, 2021 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | ||
Debt Instrument, Maturity Date | May 15, 2021 | ||
5.0% Senior Notes due October 1, 2022 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||
Debt Instrument, Maturity Date | Oct. 1, 2022 | ||
7.60% Senior Notes, due February 1, 2024 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.60% | ||
Debt Instrument, Maturity Date | Feb. 1, 2024 | ||
7.60% Senior Notes, due February 1, 2024 [Member] | Panhandle [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.60% | ||
Debt Instrument, Maturity Date | Feb. 1, 2024 | ||
4.05% Senior Notes due March 2025 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.05% | ||
Debt Instrument, Maturity Date | Mar. 15, 2025 | ||
4.75% Senior Notes due January 2026 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | ||
Debt Instrument, Maturity Date | Jan. 15, 2026 | ||
8.25% Senior Notes, due November 14, 2029 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | ||
Debt Instrument, Maturity Date | Nov. 15, 2029 | ||
8.25% Senior Notes, due November 14, 2029 [Member] | Panhandle [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | ||
Debt Instrument, Maturity Date | Nov. 14, 2029 | ||
7.2% Junior Subordinated Notes due November 21, 2066 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.20% | ||
Debt Instrument, Maturity Date | Nov. 1, 2066 | ||
5.75% Senior Notes, due 2017 [Member] | Sunoco [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | ||
Debt Instrument, Maturity Date | Jan. 15, 2017 | ||
9.00% Debentures, due 2024 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | ||
Debt Instrument, Maturity Date | Nov. 1, 2024 | ||
5.50% Senior Notes, due February 15, 2020 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||
Debt Instrument, Maturity Date | Feb. 15, 2020 | ||
4.40% Senior Notes due April 2021 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.40% | ||
Debt Instrument, Maturity Date | Apr. 1, 2021 | ||
Senior Note 4.65% Due February 15, 2022 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.65% | ||
Debt Instrument, Maturity Date | Feb. 15, 2022 | ||
3.45% Senior Notes due January 2023 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.45% | ||
Debt Instrument, Maturity Date | Feb. 1, 2023 | ||
4.25% Senior Notes due April 1, 2024 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||
Debt Instrument, Maturity Date | Apr. 1, 2024 | ||
5.95% Senior Notes due December 2025 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | ||
Debt Instrument, Maturity Date | Dec. 1, 2025 | ||
3.90% Senior Notes due July 15, 2026 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.90% | ||
Debt Instrument, Maturity Date | Jul. 15, 2026 | ||
4.20% Senior Notes due April 2027 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | ||
Debt Instrument, Maturity Date | Apr. 15, 2027 | ||
4.00% Senior Notes due October 1, 2027 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||
Debt Instrument, Maturity Date | Oct. 1, 2027 | ||
6.85% Senior Notes, due February 15, 2040 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.85% | ||
Debt Instrument, Maturity Date | Feb. 15, 2040 | ||
Senior Note 6.10%, due February 15, 2042 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.10% | ||
Debt Instrument, Maturity Date | Feb. 15, 2042 | ||
4.95% Senior Notes due January 2043 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.95% | ||
Debt Instrument, Maturity Date | Jan. 15, 2043 | ||
5.30% Senior Notes due April 1, 2044 [Member] | ETP [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.30% | ||
Debt Instrument, Maturity Date | Apr. 1, 2044 | ||
5.54% Senior Unsecured Notes, due November 17, 2016 [Member] | Transwestern [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.54% | ||
Debt Instrument, Maturity Date | Nov. 17, 2016 | ||
5.64% Senior Unsecured Notes, due May 24, 2017 [Member] | Transwestern [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.64% | ||
Debt Instrument, Maturity Date | May 24, 2017 | ||
5.36% Senior Unsecured Notes, due December 9, 2020 [Member] | Transwestern [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.36% | ||
Debt Instrument, Maturity Date | Dec. 9, 2020 | ||
5.89% Senior Unsecured Notes, due May 24, 2022 [Member] | Transwestern [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.89% | ||
Debt Instrument, Maturity Date | May 24, 2022 | ||
5.66% Senior Unsecured Notes, due December 9, 2024 [Member] | Transwestern [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.66% | ||
Debt Instrument, Maturity Date | Dec. 9, 2024 | ||
6.16% Senior Unsecured Notes, due May 24, 2037 [Member] | Transwestern [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.16% | ||
Debt Instrument, Maturity Date | May 24, 2037 |
Redeemable Preferred Units (Det
Redeemable Preferred Units (Details) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Jan. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($) | Dec. 31, 2017shares | Apr. 30, 2015USD ($)$ / commonunit | |
Preferred Units, Issued | shares | 329,299,267 | 329,299,267 | |||
Mandatory redeemable price of units outstanding | $ 35 | ||||
Issuance of common units | $ 37 | $ 0 | |||
Preferred Units Quarterly Cash Distribution Per Unit | $ / commonunit | 0.445 | ||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 53 | ||||
ETP Series A Preferred Units [Member] | |||||
Partners' Capital Account, Units, Redeemed | shares | 1,900,000 |
Equity (Narrative) (Details)
Equity (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 36 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Feb. 28, 2018 | Jan. 31, 2018 | Nov. 30, 2017 | Aug. 31, 2017 | Feb. 28, 2017 | Jan. 31, 2017 | Oct. 31, 2016 | Mar. 31, 2016 | Oct. 31, 2015 | Jul. 31, 2015 | Mar. 31, 2015 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Feb. 01, 2017 | Apr. 30, 2015 | Dec. 31, 2013 | Oct. 05, 2012 | ||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 53,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | 329,299,267 | 329,299,267 | 329,299,267 | 329,299,267 | 329,299,267 | 329,299,267 | |||||||||||||||||||||||||||||||||||||||||
Proposed Environmental Penalty | $ 100,000 | $ 100,000 | $ 0 | $ 0 | $ 0 | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.5650 | $ 0.5650 | $ 0.5500 | $ 0.5350 | |||||||||||||||||||||||||||||||||||||||||||
Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017 and 2016) | $ 450,000,000 | $ 180,000,000 | [1] | $ 180,000,000 | [1] | 450,000,000 | $ 180,000,000 | [1] | 450,000,000 | ||||||||||||||||||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 29,980,000,000 | $ 22,431,000,000 | [1] | $ 23,553,000,000 | [1] | $ 22,301,000,000 | [1] | $ 22,431,000,000 | [1] | $ 29,980,000,000 | $ 22,431,000,000 | [1] | $ 23,553,000,000 | [1] | 29,980,000,000 | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 32,200,000 | 2,100,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Repurchase Program, Authorized Amount | 2,000,000,000 | $ 2,000,000,000 | 2,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Unit-based Compensation | 0 | 0 | 33,600,000 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 936,000,000 | $ 936,000,000 | $ 936,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Minimum beneficial percentage ownership, other than the Partnership's General Partner and its affiliates, no voting rights, not considered outstanding | 20.00% | 20.00% | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | 1,079,145,561 | 1,046,947,157 | 1,044,800,000 | 1,077,500,000 | 1,046,947,157 | 1,079,145,561 | 1,046,947,157 | 1,044,800,000 | 1,079,145,561 | ||||||||||||||||||||||||||||||||||||||
Limited Partner interest in the Partnership, percentage | 94.38% | ||||||||||||||||||||||||||||||||||||||||||||||
Gain from subsidiary issuances of common units | $ (56,000,000) | $ 16,000,000 | $ (526,000,000) | ||||||||||||||||||||||||||||||||||||||||||||
Units repurchased under buyback program | $ 0 | 0 | [1] | 1,064,000,000 | [1] | ||||||||||||||||||||||||||||||||||||||||||
Class E Unit Distribution Rate | 11.10% | 11.10% | 11.10% | ||||||||||||||||||||||||||||||||||||||||||||
Class E Unit Maximum Distribution | $ 1.41 | $ 1.41 | $ 1.41 | ||||||||||||||||||||||||||||||||||||||||||||
Class G Unit Distribution Rate | 35.00% | 35.00% | 35.00% | ||||||||||||||||||||||||||||||||||||||||||||
Class G Unit Maximum Distribution | $ 3.75 | $ 3.75 | $ 3.75 | ||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Sale of Units | $ 568,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Businesses, Gross | $ 382,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sold in Private Placement | 32,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ 580,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sold in Public Offering | 54,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Common Limited Partners Units | $ 997,000,000 | $ 568,000,000 | 0 | [1] | 0 | [1] | |||||||||||||||||||||||||||||||||||||||||
Parent Company [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.3050 | [2] | 0.2950 | [2] | 0.2850 | [2] | 0.2850 | [2] | $ 0.2850 | [2] | $ 0.2850 | [2] | $ 0.2850 | [2] | $ 0.2850 | [2] | $ 0.2850 | [2] | $ 0.2850 | $ 0.2650 | $ 0.2450 | $ 0.2250 | |||||||||||||||||||||||||
Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017 and 2016) | $ 450,000,000 | $ 180,000,000 | $ 180,000,000 | 450,000,000 | 180,000,000 | $ 450,000,000 | |||||||||||||||||||||||||||||||||||||||||
Units repurchased under buyback program | 0 | 0 | 1,064,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Common Limited Partners Units | $ 568,000,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
PennTex [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share | 20 | ||||||||||||||||||||||||||||||||||||||||||||||
Phillips 66 Company [Member] | Dakota Access and ETCOC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 25.00% | ||||||||||||||||||||||||||||||||||||||||||||||
ETP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.7033 | 0.7033 | 0.7033 | 0.7033 | 0.7033 | 0.7033 | 0.6900 | 0.6767 | 0.6633 | ||||||||||||||||||||||||||||||||||||||
Common Units Issued Inconnection With The Equity Distribution Agreement | 22,600,000 | 25,500,000 | |||||||||||||||||||||||||||||||||||||||||||||
Equity Distribution Agreement, maximum aggregate value of common units sold | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds From Issuance Of Common Limited Partners Units Under Equity Distribution Agreement | 503,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Fees and Commissions | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Equity Distribution Agreements, Value of Units Available to be Issued | $ 752,000,000 | 752,000,000 | $ 752,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | $ 228,000,000 | 216,000,000 | $ 360,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Common Units Remaining Available to be Issued Under Distribution Reinvestment Plan | 20,800,000 | 20,800,000 | 20,800,000 | ||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sold in Private Placement | 23,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ 568,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
ETP [Member] | Sunoco, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 68.42% | ||||||||||||||||||||||||||||||||||||||||||||||
ETP [Member] | Legacy Sunoco, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Sunoco Logistics [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | 0.5200 | 0.5100 | 0.5000 | 0.4890 | 0.4790 | 0.4580 | 0.4380 | 0.4190 | 0.4000 | ||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 629,000,000 | $ 644,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Equity Distribution Agreement, maximum aggregate value of common units sold | $ 1,250,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sale of Units | 15,500,000 | 24,200,000 | |||||||||||||||||||||||||||||||||||||||||||||
Sunoco LP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.8255 | 0.8255 | 0.8255 | 0.8255 | 0.8255 | 0.8255 | 0.8255 | $ 0.8173 | $ 0.8013 | $ 0.7454 | $ 0.6934 | $ 0.6450 | $ 0.6000 | ||||||||||||||||||||||||||||||||||
Common Units Issued Inconnection With The Equity Distribution Agreement | 1,300,000 | 2,800,000 | |||||||||||||||||||||||||||||||||||||||||||||
Equity Distribution Agreement, maximum aggregate value of common units sold | $ 400,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds From Issuance Of Common Limited Partners Units Under Equity Distribution Agreement | $ 33,000,000 | $ 71,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Fees and Commissions | $ 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Common Units Remaining Available to be Issued Under Distribution Reinvestment Plan | 295,000,000 | 295,000,000 | 295,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sale of Units | 5,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Sale of Units | $ 213,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sold in Private Placement | 2,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Holdings Company LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Holdings Company LLC [Member] | Bakken Pipeline Investments LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 200000000000.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Holdings Company LLC [Member] | Sunoco Logistics [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Holdings Company LLC [Member] | ETP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Pipeline Investments LLC [Member] | Dakota Access and ETCOC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 75.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Class D Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | 3,080,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Class H Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units | 50,200,000 | 50,200,000 | |||||||||||||||||||||||||||||||||||||||||||||
Allocation of Profits, Losses and Other by Sunoco, Percent | 90.05% | 90.05% | 90.05% | ||||||||||||||||||||||||||||||||||||||||||||
Class K Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.67275 | ||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Held by Subsidiary | $ 101,525,429 | $ 101,525,429 | $ 101,525,429 | ||||||||||||||||||||||||||||||||||||||||||||
Common Class C [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sale of Units | 16,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Common Class C [Member] | Sunoco LP [Member] | Aloha Petroleum LP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sale of Units | 5,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Common Class C [Member] | Sunoco LP [Member] | Indirect wholly-owned subsidiary [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Sale of Units | 11,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Second Target Distribution [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Payment Targets | 0.0833 | ||||||||||||||||||||||||||||||||||||||||||||||
Series A Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 15.451 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Shares Issued | 950,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Offering Costs | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 4.028% | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Redemption Price Per Share | 1,000 | $ 1,000 | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
Series A Preferred Units [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | $ 25 | $ 25 | ||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||
Call premium on preferred units. | 1.00% | 1.00% | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 16,378,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Shares Issued | 550,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.625% | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Offering Costs | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 4.155% | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Redemption Price Per Share | $ 1,000 | $ 1,000 | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
Holdco Transaction [Member] | Class G Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units | 90,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Pipeline Transaction [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Class I Distributions | $ 55,000,000 | $ 30,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Redeemed | 46,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Business Combination, Consideration Transferred | $ 879,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Pipeline Transaction [Member] | Parent Company [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 45.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Pipeline Transaction [Member] | Class H Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Allocation of Profits, Losses and Other by Sunoco, Percent | 90.05% | 90.05% | |||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Redeemed | 30,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Bakken Pipeline Transaction [Member] | Class I Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units | 100 | 100 | |||||||||||||||||||||||||||||||||||||||||||||
Sunoco Retail to Sunoco LP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Business Combination, Consideration Transferred | $ 2,230,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Businesses, Gross | $ 2,200,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 5,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Series A Convertible Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 31.50% | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | 329,295,770 | 329,300,000 | 0 | 0 | 329,300,000 | 329,295,770 | 329,300,000 | 0 | 329,295,770 | ||||||||||||||||||||||||||||||||||||||
Preferred Stock Conversions, Inducements | $ 6.56 | ||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 329,300,000 | 0 | 329,300,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class E Units [Member] | ETP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | 8,900,000 | 8,900,000 | 8,900,000 | ||||||||||||||||||||||||||||||||||||||||||||
Class D Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 0 | 0 | 900,000 | ||||||||||||||||||||||||||||||||||||||||||||
Sunoco Logistics' $2.5 billion revolving credit facility due March 2020 [Member] | Sunoco Logistics [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 2,500,000,000 | $ 2,500,000,000 | $ 2,500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Sunoco LP $1.5 Billion Revolving Credit Facility Due September 2019 [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,250,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Stock Repurchased During Period, Shares | 17,286,859 | ||||||||||||||||||||||||||||||||||||||||||||||
Units repurchased under buyback program | $ 540,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ 2,200,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Series A Preferred Units [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 300,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Stock Repurchased and Retired During Period, Shares | 12,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock Redemption Premium | $ 313,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
IDRs [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 48.00% | 48.00% | 48.00% | ||||||||||||||||||||||||||||||||||||||||||||
Series A Convertible Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 450,000,000 | $ 180,000,000 | [1] | $ 0 | [1] | $ 0 | [1] | $ 180,000,000 | [1] | $ 450,000,000 | $ 180,000,000 | [1] | $ 0 | [1] | $ 450,000,000 | ||||||||||||||||||||||||||||||||
Partners' Capital Account, Sale of Units | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||
Series A Convertible Preferred Units [Member] | Parent Company [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | |||||||||||||||||||||||||||||||||||||||
Kelcy L. Warren [Member] | Series A Convertible Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 18.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | 187,313,942 | 187,313,942 | 187,313,942 | ||||||||||||||||||||||||||||||||||||||||||||
Messrs. McReynolds, Ramsey and McCrea [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 2.20% | ||||||||||||||||||||||||||||||||||||||||||||||
Mr. McReynolds [Member] | Series A Convertible Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | 21,382,155 | 21,382,155 | 21,382,155 | ||||||||||||||||||||||||||||||||||||||||||||
Mr. Ramsey [Member] | Series A Convertible Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | 51,317 | 51,317 | 51,317 | ||||||||||||||||||||||||||||||||||||||||||||
Mr. McCrea [Member] | Series A Convertible Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | 1,112,728 | 1,112,728 | 1,112,728 | ||||||||||||||||||||||||||||||||||||||||||||
Mr. Ray Davis [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 6.90% | ||||||||||||||||||||||||||||||||||||||||||||||
Mr. Ray Davis [Member] | LE GP, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 18.80% | ||||||||||||||||||||||||||||||||||||||||||||||
Mr. Ray Davis [Member] | Series A Convertible Preferred Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | 72,042,486 | 72,042,486 | 72,042,486 | ||||||||||||||||||||||||||||||||||||||||||||
[1] | * As adjusted. See Note 2. | ||||||||||||||||||||||||||||||||||||||||||||||
[2] | Certain common unitholders elected to participate in a plan pursuant to which those unitholders elected to forego their cash distributions on all or a portion of their common units for a period of up to nine quarters commencing with the distribution for the quarter ended March 31, 2016 and, in lieu of receiving cash distributions on these common units for each such quarter, each said unitholder received Convertible Units (on a one-for-one basis for each common unit as to which the participating unitholder elected be subject to this plan) that entitled them to receive a cash distribution of up to $0.11 per Convertible Unit. See additional information below. |
Equity (Change In ETE Common Un
Equity (Change In ETE Common Units) (Details) - shares | 1 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Preferred Units, Outstanding | 329,299,267 | 329,299,267 | ||||||
Stock Issued During Period, Shares, New Issues | 32,200,000 | 2,100,000 | 0 | |||||
Outstanding | 1,079,145,561 | 1,046,947,157 | 1,044,800,000 | 1,079,145,561 | 1,046,947,157 | 1,044,800,000 | 1,077,500,000 | |
Issuance of restricted Common Units under long-term incentive plans | 0 | 0 | (33,600,000) | |||||
Number of Common Units, end of period | 1,079,145,561 | 1,046,947,157 | 1,044,800,000 | |||||
Series A Convertible Preferred Units [Member] | ||||||||
Preferred Units, Outstanding | 329,295,770 | 329,300,000 | 0 | 0 | ||||
Stock Issued During Period, Shares, New Issues | 329,300,000 | 0 | 329,300,000 | 0 | ||||
Class D Units [Member] | ||||||||
Stock Issued During Period, Shares, New Issues | 0 | 0 | 900,000 |
Equity (Quarterly Distributions
Equity (Quarterly Distributions Of Available Cash) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||||||||
Distribution Made to Limited Partner, Date of Record | Feb. 8, 2018 | Nov. 7, 2017 | Aug. 7, 2017 | May 10, 2017 | |||||||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | Feb. 14, 2018 | Nov. 14, 2017 | Aug. 15, 2017 | May 16, 2017 | |||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.5650 | $ 0.5650 | $ 0.5500 | $ 0.5350 | |||||||||||||||||||||
Partners' Capital Account, Distributions | $ 1,010 | $ 1,022 | $ 1,090 | ||||||||||||||||||||||
Parent Company [Member] | |||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Feb. 8, 2018 | [1] | Nov. 7, 2017 | [1] | Aug. 7, 2017 | [1] | May 10, 2017 | [1] | Feb. 7, 2017 | [1] | Nov. 7, 2016 | [1] | Aug. 8, 2016 | [1] | May 6, 2016 | [1] | Feb. 4, 2016 | Nov. 5, 2015 | Aug. 6, 2015 | May 8, 2015 | Feb. 6, 2015 | ||||
Distribution Made to Limited Partner, Distribution Date | Feb. 20, 2018 | [1] | Nov. 20, 2017 | [1] | Aug. 21, 2017 | [1] | May 19, 2017 | [1] | Feb. 21, 2017 | [1] | Nov. 18, 2016 | [1] | Aug. 19, 2016 | [1] | May 19, 2016 | [1] | Feb. 19, 2016 | Nov. 19, 2015 | Aug. 19, 2015 | May 19, 2015 | Feb. 19, 2015 | ||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.3050 | [1] | $ 0.2950 | [1] | $ 0.2850 | [1] | $ 0.2850 | [1] | $ 0.2850 | [1] | $ 0.2850 | [1] | $ 0.2850 | [1] | $ 0.2850 | [1] | $ 0.2850 | [1] | $ 0.2850 | $ 0.2650 | $ 0.2450 | $ 0.2250 | |||
ETP [Member] | |||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.7033 | $ 0.7033 | $ 0.7033 | $ 0.7033 | $ 0.7033 | $ 0.7033 | $ 0.6900 | $ 0.6767 | $ 0.6633 | ||||||||||||||||
Sunoco LP [Member] | |||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Feb. 6, 2018 | Nov. 7, 2017 | Aug. 7, 2017 | May 9, 2017 | Feb. 13, 2017 | Nov. 7, 2016 | Aug. 5, 2016 | May 6, 2016 | Feb. 5, 2016 | Nov. 17, 2015 | Aug. 18, 2015 | May 19, 2015 | Feb. 17, 2015 | ||||||||||||
Distribution Made to Limited Partner, Distribution Date | Feb. 14, 2018 | Nov. 14, 2017 | Aug. 15, 2017 | May 16, 2017 | Feb. 21, 2017 | Nov. 15, 2016 | Aug. 15, 2016 | May 16, 2016 | Feb. 16, 2016 | Nov. 27, 2015 | Aug. 28, 2015 | May 29, 2015 | Feb. 27, 2015 | ||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8173 | $ 0.8013 | $ 0.7454 | $ 0.6934 | $ 0.6450 | $ 0.6000 | ||||||||||||
Sunoco Logistics [Member] | |||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.5200 | $ 0.5100 | $ 0.5000 | $ 0.4890 | $ 0.4790 | $ 0.4580 | $ 0.4380 | $ 0.4190 | $ 0.4000 | ||||||||||||||||
Series A Convertible Preferred Units [Member] | Parent Company [Member] | |||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Feb. 8, 2018 | Nov. 7, 2017 | Aug. 7, 2017 | May 10, 2017 | Feb. 7, 2017 | Nov. 7, 2016 | Aug. 8, 2016 | May 6, 2016 | |||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | Feb. 20, 2018 | Nov. 20, 2017 | Aug. 21, 2017 | May 19, 2017 | Feb. 21, 2017 | Nov. 18, 2016 | Aug. 19, 2016 | May 19, 2016 | |||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | $ 0.1100 | |||||||||||||||||
Preferred Units [Member] | |||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Feb. 1, 2018 | ||||||||||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | Feb. 15, 2018 | ||||||||||||||||||||||||
Series A Preferred Units [Member] | |||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 15.451 | ||||||||||||||||||||||||
Series B Preferred Units [Member] | |||||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 16,378,000 | ||||||||||||||||||||||||
Minimum Quarterly Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | 0.0750 | ||||||||||||||||||||||||
Minimum Quarterly Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | .4375 | ||||||||||||||||||||||||
First Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | up to $0.0833 | ||||||||||||||||||||||||
First Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | $0.4375 to $0.503125 | ||||||||||||||||||||||||
Second Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | above $0.0833 up to $0.0958 | ||||||||||||||||||||||||
Second Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | $0.503125 to $0.546875 | ||||||||||||||||||||||||
Third Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | above $0.0958 up to $0.2638 | ||||||||||||||||||||||||
Third Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | $0.546875 to $0.656250 | ||||||||||||||||||||||||
Thereafter [Member] | ETP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | $0.2638 | ||||||||||||||||||||||||
Thereafter [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Distribution Payment Targets | $0.656250 | ||||||||||||||||||||||||
IDRs [Member] | Minimum Quarterly Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 0.00% | 0.00% | |||||||||||||||||||||||
IDRs [Member] | Minimum Quarterly Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 100.00% | 100.00% | |||||||||||||||||||||||
IDRs [Member] | First Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 0.00% | 0.00% | |||||||||||||||||||||||
IDRs [Member] | First Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 100.00% | 100.00% | |||||||||||||||||||||||
IDRs [Member] | Second Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 13.00% | 13.00% | |||||||||||||||||||||||
IDRs [Member] | Second Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 85.00% | 85.00% | |||||||||||||||||||||||
IDRs [Member] | Third Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 35.00% | 35.00% | |||||||||||||||||||||||
IDRs [Member] | Third Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 75.00% | 75.00% | |||||||||||||||||||||||
IDRs [Member] | Thereafter [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 48.00% | 48.00% | |||||||||||||||||||||||
IDRs [Member] | Thereafter [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 50.00% | 50.00% | |||||||||||||||||||||||
Limited Partner [Member] | |||||||||||||||||||||||||
Partners' Capital Account, Distributions | $ 1,008 | $ 1,019 | $ 1,084 | ||||||||||||||||||||||
Limited Partner [Member] | Minimum Quarterly Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 100.00% | 100.00% | |||||||||||||||||||||||
Limited Partner [Member] | Minimum Quarterly Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 0.00% | 0.00% | |||||||||||||||||||||||
Limited Partner [Member] | First Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 100.00% | 100.00% | |||||||||||||||||||||||
Limited Partner [Member] | First Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 0.00% | 0.00% | |||||||||||||||||||||||
Limited Partner [Member] | Second Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 87.00% | 87.00% | |||||||||||||||||||||||
Limited Partner [Member] | Second Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 15.00% | 15.00% | |||||||||||||||||||||||
Limited Partner [Member] | Third Target Distribution [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 65.00% | 65.00% | |||||||||||||||||||||||
Limited Partner [Member] | Third Target Distribution [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 25.00% | 25.00% | |||||||||||||||||||||||
Limited Partner [Member] | Thereafter [Member] | ETP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 52.00% | 52.00% | |||||||||||||||||||||||
Limited Partner [Member] | Thereafter [Member] | Sunoco LP [Member] | |||||||||||||||||||||||||
Marginal Percentage Interest in Distributions | 50.00% | 50.00% | |||||||||||||||||||||||
[1] | Certain common unitholders elected to participate in a plan pursuant to which those unitholders elected to forego their cash distributions on all or a portion of their common units for a period of up to nine quarters commencing with the distribution for the quarter ended March 31, 2016 and, in lieu of receiving cash distributions on these common units for each such quarter, each said unitholder received Convertible Units (on a one-for-one basis for each common unit as to which the participating unitholder elected be subject to this plan) that entitled them to receive a cash distribution of up to $0.11 per Convertible Unit. See additional information below. |
Equity (Accumulated Other Compr
Equity (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Partners' Capital Notes [Abstract] | |||
Unrealized gains on available-for-sale securities | $ 8 | $ 2 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | (5) | (5) | |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax | (5) | 7 | |
AOCI attributable to equity method investments | 5 | 4 | |
Subtotal | 3 | 8 | |
Amounts attributable to noncontrolling interest | (3) | (8) | |
Total AOCI included in partners' capital, net of tax | $ 0 | $ 0 | [1] |
[1] | * As adjusted. See Note 2. |
Equity Tax amounts in component
Equity Tax amounts in components of other comprehensive income (loss) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Other Comprehensive Income Loss Commodity Hedges Tax | $ (2) | $ (2) |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | 3 | 3 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized (Gain) Loss Arising During Period, Tax | 3 | 0 |
Other Comprehensive Income (Loss), Tax | $ 4 | $ 1 |
Equity (Relinquishments of Ince
Equity (Relinquishments of Incentive Distribution Rights) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Subsequent Event [Member] | |||
Relinquishment of Incentive Distributions | $ 33 | $ 128 | $ 153 |
ETE Unit-Based Compensation Pla
ETE Unit-Based Compensation Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Stock Issued During Period, Shares, New Issues | 32,200,000 | 2,100,000 | 0 |
ETE Long-Term Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 12,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 10,800,000 | ||
Unvested awards | 1,251,002 | ||
Units Vested In Period | 2,018 | 28,648 | |
Fair Value Of Units As Of The Vesting Date | $ 39 | $ 205 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 21,000 | ||
Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 6 months 15 days | ||
Employee [Member] | ETE Long-Term Incentive Plan [Member] | |||
Awards granted | 1,200,000 | ||
Director [Member] | ETE Long-Term Incentive Plan [Member] | |||
Awards granted | 15,648 |
Unit-Based Compensation Plans S
Unit-Based Compensation Plans Subsidiary Unit-Based Compensation Plans (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Subsidiary Unit Based Compensation [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair Value Of Units As Of The Vesting Date | $ 40 | $ 40 | $ 57 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 216 | ||
Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Term | 2 years 9 months | ||
ETP Unit-Based Compensation Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unvested awards | 14.1 | 9.4 | |
Weighted Average Grant-Date Fair Value Per ETP Unit | $ 23.18 | $ 27.68 | |
Awards granted | 4.9 | ||
Weighted Average Grant-Date Fair Value Per ETP Unit, Awards granted | $ 17.69 | $ 23.82 | $ 23.47 |
Awards vested | (2.3) | ||
Weighted Average Grant-Date Fair Value Per ETP Unit, Awards vested | $ 34.22 | ||
Stock Granted, Value, Share-based Compensation, Forfeited | $ (1.1) | ||
Weighted Average Grant-Date Fair Value Per ETP Unit, Awards forfeited | $ 25.03 | ||
Sunoco LP Unit Based Compensation Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unvested awards | 1.7 | 2 | |
Weighted Average Grant-Date Fair Value Per ETP Unit | $ 31.89 | $ 34.43 | |
Awards granted | 0.2 | ||
Weighted Average Grant-Date Fair Value Per ETP Unit, Awards granted | $ 28.31 | $ 26.95 | $ 40.63 |
Awards vested | (0.3) | ||
Weighted Average Grant-Date Fair Value Per ETP Unit, Awards vested | $ 45.48 | ||
Stock Granted, Value, Share-based Compensation, Forfeited | $ (0.2) | ||
Weighted Average Grant-Date Fair Value Per ETP Unit, Awards forfeited | $ 34.71 | ||
Legacy Sunoco Logistics Unit-Based Compensation Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unvested awards | 3.2 | ||
Weighted Average Grant-Date Fair Value Per ETP Unit | $ 28.57 |
Income Taxes Narrative (Details
Income Taxes Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2017 | Nov. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Loss Carryforwards [Line Items] | |||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $ 403 | $ 403 | |||
Operating Loss Carryforwards, Expiration Date | Jan. 1, 2031 | ||||
Deferred Tax Liabilities, Gross | 4,035 | $ 4,035 | $ 5,710 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 605 | 605 | |||
Net operating losses and alternative minimum tax credit | 683 | 683 | 472 | ||
Valuation allowance | (189) | (189) | (118) | ||
Unrecognized Tax Benefits That Would Impact Effective Tax Rate, Ater Tax | 576 | 576 | |||
Proceeds from Income Tax Refunds | 530 | 530 | |||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | 530 | 530 | |||
State | (16) | (34) | $ (54) | ||
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 3 | ||||
Income Tax Examination, Penalties and Interest Accrued | $ 9 | 9 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |||
Tax Credit Carryforward, Valuation Allowance | $ 186 | 186 | |||
Deferred Income Tax Expense (Benefit) | (1,871) | $ (177) | $ 239 | ||
Operating Loss Carryforwards, Valuation Allowance | 3 | 3 | |||
Corporate Subsidiaries [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Net operating losses and alternative minimum tax credit | 62 | 62 | |||
Operating Loss Carryforwards | 274 | 274 | |||
Tax Cut and Jobs Act [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred Income Tax Expense (Benefit) | (1,810) | ||||
Net of federal tax [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
State | $ 53 | ||||
Maximum [Member] | ETP Holdco and other corporate subsidiaries [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2037 | ||||
Maximum [Member] | Corporate Subsidiaries [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2037 | ||||
Minimum [Member] | Corporate Subsidiaries [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Operating Loss Carryforwards, Expiration Date | Jan. 1, 2018 | ||||
Reclassed to current income tax receivable within 12 months [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Net operating losses and alternative minimum tax credit | 29 | $ 29 | |||
Net of federal tax [Member] | Corporate Subsidiaries [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Operating Loss Carryforwards | 217 | 217 | |||
Pennsylvania Constitution [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
State | 67 | ||||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies | 27 | 27 | |||
Pennsylvania Constitution [Member] | Net of federal tax [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies | $ 21 | $ 21 |
Income Taxes Components of Inco
Income Taxes Components of Income Tax (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Current expense (benefit): | |||||
Federal | $ 54 | $ (47) | $ (308) | ||
State | (16) | (34) | (54) | ||
Total | 38 | (81) | (362) | ||
Deferred expense (benefit): | |||||
Federal | (2,055) | (189) | 268 | ||
State | 184 | 12 | (29) | ||
Total | (1,871) | (177) | 239 | ||
Total income tax expense (benefit) from continuing operations | $ (1,833) | $ (258) | [1] | $ (123) | [1] |
[1] | * As adjusted. See Note 2. |
Income Taxes Reconciliation of
Income Taxes Reconciliation of Income Tax Satutory Rate (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Effective Income Tax Rate Reconciliation, Change in Tax Status of Subsidiary | $ (124) | $ 0 | $ 0 | ||
Income tax expense (benefit) at United States statutory rate of 35 percent | 248 | 71 | 316 | ||
Increase (reduction) in income taxes resulting from: | |||||
Goodwill impairment | 207 | 278 | 0 | ||
Partnership earnings not subject to tax | (477) | (576) | (355) | ||
State tax, net of federal tax benefit | 124 | (10) | (29) | ||
Dividend received deduction | (14) | (15) | (22) | ||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | (1,812) | 0 | 0 | ||
Audit settlement | 0 | 0 | (7) | ||
Other | 15 | (6) | (26) | ||
Total income tax expense (benefit) from continuing operations | $ (1,833) | $ (258) | [1] | $ (123) | [1] |
[1] | * As adjusted. See Note 2. |
Income Taxes Effects of Tempora
Income Taxes Effects of Temporary Differences That Comprise Net Deffered Income Tax Liability (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred income tax assets: | |||
Net operating losses and alternative minimum tax credit | $ 683 | $ 472 | |
Pension and other postretirement benefits | 21 | 30 | |
Long-term debt | 14 | 32 | |
Other | 191 | 182 | |
Deferred Tax Assets, Gross | 909 | 716 | |
Valuation allowance | (189) | (118) | |
Net deferred income tax assets | 720 | 598 | |
Deferred income tax liabilities: | |||
Property, plant and equipment | (1,036) | (1,633) | |
Investments in unconsolidated affiliates | (2,726) | (3,789) | |
Trademarks | (173) | (273) | |
Other | (100) | (15) | |
Deferred Tax Liabilities, Gross | 4,035 | 5,710 | |
Deferred Tax Liabilities | $ (3,315) | $ (5,112) | $ (4,590) |
Income Taxes Components of Net
Income Taxes Components of Net Deferred Tax Liability (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Components of Net Deferred Income Tax [Abstract] | |||
Total deferred income tax assets | $ 909 | $ 716 | |
Deferred Tax Liabilities, Net | (3,315) | (5,112) | $ (4,590) |
Goodwill associated with Sunoco Retail to Sunoco LP transaction (see Note 3) | 0 | 460 | |
Net assets (excluding goodwill) associated with Sunoco Retail to Sunoco LP (see Note 3) | 0 | 243 | |
Tax provision, including provision from discontinued operations | 1,825 | 201 | |
Other | (28) | (20) | |
Valuation allowance | 189 | 118 | |
Net deferred income tax assets | $ 720 | $ 598 |
Income Taxes Changes in Unrecog
Income Taxes Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Changes in Unrecognized Tax Benefits [Abstract] | |||
Balance at beginning of year | $ 615 | $ 610 | $ 440 |
Additions attributable to tax positions taken in the current year | 0 | 8 | 178 |
Additions attributable to tax positions taken in prior years | 28 | 18 | 0 |
Reduction attributable to tax positions taken in prior years | (25) | (20) | 0 |
Lapse of statute | 9 | 1 | 8 |
Balance at end of year | $ 609 | $ 615 | $ 610 |
Regulatory Matters, Commitmen88
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||
Jan. 31, 2018USD ($) | May 31, 2017USD ($) | Oct. 31, 2015USD ($) | Apr. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Aug. 31, 2017USD ($) | Oct. 31, 2016USD ($) | Apr. 30, 2016USD ($) | |
Lessee, Operating Lease, Term of Contract | 40 years | ||||||||||
Payments for Environmental Liabilities | $ 32,000,000 | $ 43,000,000 | |||||||||
Operating leases rent expense | 196,000,000 | 187,000,000 | $ 281,000,000 | ||||||||
Amounts recorded in balance sheets for contingencies and current litigation not disclosed | 0 | ||||||||||
Total environmental liabilities | 372,000,000 | 344,000,000 | |||||||||
Operating Leases, Rent Expense, Contingent Rentals | $ 16,000,000 | 18,000,000 | 20,000,000 | ||||||||
Site Contingency, Number of Sites Needing Remediation | 43 | ||||||||||
Proposed Environmental Penalty | $ 0 | $ 100,000 | $ 100,000 | ||||||||
Payments to Acquire Businesses, Gross | $ 382,000,000 | ||||||||||
Long-term Debt | 44,084,000,000 | 43,802,000,000 | |||||||||
BP Products North America [Member] | |||||||||||
Loss Contingency, Damages Awarded, Value | $ 13,000,000 | $ 62,000,000 | $ 41,000,000 | ||||||||
Sunoco LP [Member] | |||||||||||
Long-term Debt | 4,287,000,000 | 4,514,000,000 | |||||||||
Williams [Member] | |||||||||||
Loss on Contract Termination for Default | $ 410,000,000 | ||||||||||
Loss Contingency, Damages Sought | 1.48 | ||||||||||
Loss Contingency, Damages Sought, Value | $ 10,000,000,000 | ||||||||||
Permian Express 2 [Member] | |||||||||||
Proposed Environmental Penalty | $ 100,000 | ||||||||||
Related To Deductibles [Member] | |||||||||||
Accrual for loss contingency | $ 33,000,000 | 77,000,000 | |||||||||
Dropdown of Sunoco LLC Interest [Member] | |||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 31.58% | ||||||||||
Payments to Acquire Businesses, Gross | $ 775,000,000 | ||||||||||
Equity Issued in Business Combination, Fair Value Disclosure | $ 41,000,000 | ||||||||||
6.375% Senior Notes due April 2023 [Member] | Sunoco LP [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.375% | ||||||||||
Senior Notes | $ 800,000,000 | 800,000,000 | |||||||||
6.25% Senior Notes due 2021 [Member] | Sunoco LP [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | 6.25% | |||||||||
Senior Notes | $ 800,000,000 | $ 800,000,000 | $ 800,000,000 | ||||||||
Term loan due 2019 [Member] | Sunoco LP [Member] | |||||||||||
Long-term Debt | 2,035,000,000 | ||||||||||
Subsequent Event [Member] | 6.375% Senior Notes due April 2023 [Member] | Sunoco LP [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.375% | ||||||||||
Subsequent Event [Member] | 6.25% Senior Notes due 2021 [Member] | Sunoco LP [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | ||||||||||
Subsequent Event [Member] | 4.875% senior notes due 2023 [Member] | Sunoco LP [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | ||||||||||
Senior Notes | $ 1,000,000,000 | ||||||||||
Subsequent Event [Member] | 5.500% senior notes due 2026 [Member] | Sunoco LP [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||||||||||
Senior Notes | $ 800,000,000 | ||||||||||
Subsequent Event [Member] | 5.875% senior notes due 2028 [Member] | Sunoco LP [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.875% | ||||||||||
Senior Notes | $ 400,000,000 | ||||||||||
Federal [Member] | Sunoco Pipeline L.P. [Member] | |||||||||||
Proposed Environmental Penalty | 7,000,000 | ||||||||||
State and Local Jurisdiction [Member] | Sunoco Pipeline L.P. [Member] | |||||||||||
Proposed Environmental Penalty | $ 1,000,000 | ||||||||||
PENNSYLVANIA | Subsequent Event [Member] | |||||||||||
Civil penalties | $ 12,600,000 | ||||||||||
Initial term [Member] | Minimum [Member] | |||||||||||
Lessee, Operating Lease, Term of Contract | 5 years | ||||||||||
Initial term [Member] | Maximum [Member] | |||||||||||
Lessee, Operating Lease, Term of Contract | 15 years | ||||||||||
Final Judgement [Member] | |||||||||||
Gain Contingency, Unrecorded Amount | $ 536,000,000 | ||||||||||
Expense Reimbursement [Member] | |||||||||||
Gain Contingency, Unrecorded Amount | 1,000,000 | ||||||||||
Disgorgement [Member] | |||||||||||
Gain Contingency, Unrecorded Amount | 595,000,000 | ||||||||||
Compensatory Damages [Member] | |||||||||||
Gain Contingency, Unrecorded Amount | $ 319,000,000 |
Derivative Assets And Liabili89
Derivative Assets And Liabilities (Outstanding Commodity-Related Derivatives) (Details) MB_bls in Thousands, BBtu in Thousands | 12 Months Ended | |
Dec. 31, 2017bushelsMWBBtuMB_bls | Dec. 31, 2016bushelsMWBBtuMB_bls | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Swing Swaps IFERC [Member] | ||
Term Of Commodity Derivatives | 2,017 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Swing Swaps IFERC [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,019 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Swing Swaps IFERC [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,018 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Fixed Swaps/Futures [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,019 | 2,018 |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Fixed Swaps/Futures [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Basis Swaps IFERC NYMEX [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,020 | 2,018 |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Basis Swaps IFERC NYMEX [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Physical Contracts [Member] | ||
Term Of Commodity Derivatives | 2,017 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Physical Contracts [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,020 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Physical Contracts [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,018 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Fixed Swaps/Futures [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Term Of Commodity Derivatives | 2,017 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Basis Swaps IFERC NYMEX [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,020 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Basis Swaps IFERC NYMEX [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,018 | |
Natural Gas [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Options - Calls [Member] | ||
Term Of Commodity Derivatives | 2,018 | |
Natural Gas [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Hedged Item - Inventory (MMBtu) [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Natural Gas [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Fixed Swaps/Futures [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Natural Gas [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Natural Gas [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Swing Swaps IFERC [Member] | ||
Derivative, Nonmonetary Notional Amount | 5,663 | |
Natural Gas [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Fixed Swaps/Futures [Member] | ||
Derivative, Nonmonetary Notional Amount | 4,390 | 52,653 |
Natural Gas [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Physical Contracts [Member] | ||
Derivative, Nonmonetary Notional Amount | 145,105 | 22,492 |
Natural Gas [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Fixed Swaps/Futures [Member] | ||
Derivative, Nonmonetary Notional Amount | 683 | |
Natural Gas [Member] | Short [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Fixed Swaps/Futures [Member] | ||
Derivative, Nonmonetary Notional Amount | 39,770 | 36,370 |
Natural Gas [Member] | Short [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Derivative, Nonmonetary Notional Amount | 39,770 | 36,370 |
Natural Gas [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Swing Swaps IFERC [Member] | ||
Derivative, Nonmonetary Notional Amount | 87,253 | |
Natural Gas [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Derivative, Nonmonetary Notional Amount | 4,650 | 10,750 |
Natural Gas [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Fixed Swaps/Futures [Member] | ||
Derivative, Nonmonetary Notional Amount | 1,078 | |
Natural Gas [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Basis Swaps IFERC NYMEX [Member] | ||
Derivative, Nonmonetary Notional Amount | 48,510 | 2,243 |
Natural Gas [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Options - Calls [Member] | ||
Derivative, Nonmonetary Notional Amount | 13,000 | 0 |
Natural Gas [Member] | Long [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Hedged Item - Inventory (MMBtu) [Member] | ||
Derivative, Nonmonetary Notional Amount | 39,770 | 36,370 |
Power [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Options - Calls [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Power [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Forward Swaps [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,019 | 2,018 |
Power [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Forward Swaps [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Power [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Future [Member] | ||
Term Of Commodity Derivatives | 2,018 | |
Power [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Future [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,018 | |
Power [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Future [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,017 | |
Power [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Put Option [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Power [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Future [Member] | ||
Derivative, Nonmonetary Notional Amount | MW | 25,760 | |
Power [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Put Option [Member] | ||
Derivative, Nonmonetary Notional Amount | MW | 153,600 | 50,400 |
Power [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Options - Calls [Member] | ||
Derivative, Nonmonetary Notional Amount | MW | 137,600 | 186,400 |
Power [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Forward Swaps [Member] | ||
Derivative, Nonmonetary Notional Amount | MW | 435,960 | 391,880 |
Power [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Future [Member] | ||
Derivative, Nonmonetary Notional Amount | MW | 109,564 | |
WTI Crude Oil [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Future [Member] | ||
Term Of Commodity Derivatives | 2,017 | |
WTI Crude Oil [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Trading [Member] | Future [Member] | ||
Derivative, Nonmonetary Notional Amount | MB_bls | 0 | 617 |
Natural Gas Liquids [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Swaps [Member] | ||
Term Of Commodity Derivatives | 2,017 | |
Natural Gas Liquids [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Swaps [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,019 | |
Natural Gas Liquids [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Swaps [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,018 | |
Natural Gas Liquids [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Swaps [Member] | ||
Derivative, Nonmonetary Notional Amount | MB_bls | 5,787 | |
Natural Gas Liquids [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Forward Swaps [Member] | ||
Derivative, Nonmonetary Notional Amount | MB_bls | 6,744 | |
Refined Products [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Future [Member] | ||
Term Of Commodity Derivatives | 2,017 | |
Refined Products [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Future [Member] | Maximum [Member] | ||
Term Of Commodity Derivatives | 2,019 | |
Refined Products [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Future [Member] | Minimum [Member] | ||
Term Of Commodity Derivatives | 2,018 | |
Refined Products [Member] | Short [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Future [Member] | ||
Derivative, Nonmonetary Notional Amount | MB_bls | 3,901 | 3,144 |
Corn [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Future [Member] | ||
Term Of Commodity Derivatives | 2,018 | 2,017 |
Corn [Member] | Long [Member] | Mark-To-Market Derivatives [Member] | Non Trading [Member] | Future [Member] | ||
Derivative, Nonmonetary Notional Amount | bushels | 1,870,000 | 1,580,000 |
Regulatory Matters, Commitmen90
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Regulatory Matters, Commitments, Contingencies And Environmental Liabilities (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities [Abstract] | |
2,018 | $ 113 |
2,019 | 100 |
2,020 | 96 |
2,021 | 83 |
2,022 | 71 |
Thereafter | 606 |
Total Future Rent Payments | 1,069 |
Future Rental Income | (152) |
Net Future Rental Payments | $ 917 |
Derivative Assets And Liabili91
Derivative Assets And Liabilities (Interest Rate Swaps Outstanding) (Details) - Derivatives Not Designated As Hedging Instruments - Interest Rate Derivatives [Member] - ETP [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
March 2019 [Member] | |||
Notional Amount | $ 300 | $ 300 | |
Type | [1] | Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.42% | |
July 2020 [Member] | Forward-Starting Swaps [Member] | |||
Notional Amount | [2] | $ 400 | 0 |
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.52% and receive a floating rate | |
July 2019 [Member] | Forward-Starting Swaps [Member] | |||
Notional Amount | [2] | $ 300 | 200 |
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.64% and receive a floating rate | |
July 2018 [Member] | Forward-Starting Swaps [Member] | |||
Notional Amount | [2] | $ 300 | 200 |
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.76% and receive a floating rate | |
July 2017 [Member] | Forward-Starting Swaps [Member] | |||
Notional Amount | [2] | $ 0 | 500 |
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.90% and receive a floating rate | |
December 2018 [Member] | |||
Notional Amount | $ 1,200 | $ 1,200 | |
Type | [1] | Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.53% | |
[1] | Floating rates are based on 3-month LIBOR. | ||
[2] | Represents the effective date. These forward-starting swaps have a term of 30 years with a mandatory termination date the same as the effective date. |
Regulatory Matters, Commitmen92
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Regulatory Matters, Commitments, Contingencies And Environemental Liabilities (Environmental Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Environmental Remediation Obligations [Abstract] | ||
Current | $ 35 | $ 26 |
Non-current | 337 | 318 |
Total environmental liabilities | $ 372 | $ 344 |
Derivative Assets And Liabili93
Derivative Assets And Liabilities (Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Asset Derivatives | $ 321 | $ 363 |
Liability Derivatives | (560) | (672) |
Designated as Hedging Instrument [Member] | ||
Asset Derivatives | 14 | 0 |
Liability Derivatives | (2) | (4) |
Designated as Hedging Instrument [Member] | Commodity Derivatives (Margin Deposits) [Member] | ||
Asset Derivatives | 14 | 0 |
Liability Derivatives | (2) | (4) |
Not Designated as Hedging Instrument [Member] | ||
Asset Derivatives | 307 | 363 |
Liability Derivatives | (558) | (668) |
Not Designated as Hedging Instrument [Member] | Commodity Derivatives (Margin Deposits) [Member] | ||
Asset Derivatives | 262 | 338 |
Liability Derivatives | (281) | (416) |
Not Designated as Hedging Instrument [Member] | Commodity Derivatives [Member] | ||
Asset Derivatives | 45 | 25 |
Liability Derivatives | (58) | (58) |
Not Designated as Hedging Instrument [Member] | Interest Rate Derivatives [Member] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | (219) | (193) |
Not Designated as Hedging Instrument [Member] | Embedded Derivatives [Member] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | (1) |
Broker cleared derivative contracts [Member] | ||
Asset Derivatives | 276 | 338 |
Liability Derivatives | $ (283) | $ (420) |
Regulatory Matters, Commitmen94
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Regulatory Matters, Commitments, Contingincies and Enviironmental (Schedule of Rental Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Operating Leases, Rent Expense, Contingent Rentals | $ 16 | $ 18 | $ 20 |
Rental expense(1) | 196 | 187 | 281 |
Less: Sublease rental income | (25) | (26) | (26) |
Rental expense, net | $ 171 | $ 161 | $ 255 |
Derivative Assets And Liabili95
Derivative Assets And Liabilities Derivative Assets and Lianilities (Offsetting Agreements Netting Table) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Asset Derivatives | $ 321 | $ 363 |
Derivative Liability, Fair Value, Gross Liability | (560) | (672) |
Derivative Asset, Fair Value, Amount Offset Against Collateral | (21) | (4) |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 21 | 4 |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (263) | (338) |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 263 | 338 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 37 | 21 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | (276) | (330) |
Without offsetting agreements [Member] | ||
Asset Derivatives | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | (219) | (194) |
OTC Contracts [Member] | ||
Asset Derivatives | 45 | 25 |
Derivative Liability, Fair Value, Gross Liability | (58) | (58) |
Broker cleared derivative contracts [Member] | ||
Asset Derivatives | 276 | 338 |
Derivative Liability, Fair Value, Gross Liability | $ (283) | $ (420) |
Derivative Assets And Liabili96
Derivative Assets And Liabilities (Derivative Amount Of Gain (Loss) Recognized) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Amount of Gain/(Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness | $ 26 | $ 14 | $ 21 |
Amount of Gain/(Loss) Recognized in Income on Derivatives | 0 | (220) | (2) |
Commodity Derivatives [Member] | Cost of Products Sold [Member] | |||
Amount of Gain/(Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness | 26 | 14 | 21 |
Interest Rate Derivatives [Member] | Losses On Non-Hedged Interest Rate Derivatives [Member] | |||
Amount of Gain/(Loss) Recognized in Income on Derivatives | (37) | (12) | (18) |
Embedded Derivatives [Member] | Other Income (Expenses) [Member] | |||
Amount of Gain/(Loss) Recognized in Income on Derivatives | 1 | 4 | 12 |
Non Trading [Member] | Commodity Derivatives [Member] | Cost of Products Sold [Member] | |||
Amount of Gain/(Loss) Recognized in Income on Derivatives | 5 | (177) | 15 |
Trading [Member] | Commodity Derivatives [Member] | Cost of Products Sold [Member] | |||
Amount of Gain/(Loss) Recognized in Income on Derivatives | $ 31 | $ (35) | $ (11) |
Retirement Benefits (Narrative)
Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
ETP [Member] | |||
Retirement Benefits [Line Items] | |||
Defined Contribution Plan, Cost | $ 38 | $ 44 | $ 40 |
Sunoco [Member] | |||
Retirement Benefits [Line Items] | |||
Liability, Other Postretirement Defined Benefit Plan, Noncurrent | $ 200 | ||
Pension Benefits | |||
Retirement Benefits [Line Items] | |||
Large Cap US Equitiies | 100.00% | 100.00% | |
Other Postretirement Benefits | |||
Retirement Benefits [Line Items] | |||
Large Cap US Equitiies | 38.00% | 31.00% | |
Fixed Income Securities | 61.00% | 66.00% | |
Cash Fund Investments | 2.00% | 3.00% | |
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | $ 10 | ||
Minimum [Member] | Other Postretirement Benefits | Equity [Member] | |||
Retirement Benefits [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum (Deprecated 2017-01-31) | 0.25 | ||
Minimum [Member] | Other Postretirement Benefits | Fixed Income Investments [Member] | |||
Retirement Benefits [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum (Deprecated 2017-01-31) | 0.65 | ||
Maximum [Member] | Other Postretirement Benefits | Equity [Member] | |||
Retirement Benefits [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum (Deprecated 2017-01-31) | 0.35 | ||
Maximum [Member] | Other Postretirement Benefits | Fixed Income Investments [Member] | |||
Retirement Benefits [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum (Deprecated 2017-01-31) | 0.75 | ||
Funded Plans [Member] | Pension Benefits | |||
Retirement Benefits [Line Items] | |||
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | $ 1 |
Retirement Benefits (Obligation
Retirement Benefits (Obligations and Funded Status) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Change in benefit obligation: | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | $ 0 | $ 0 |
Change in plan assets: | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | 0 |
Pension Benefits | ||
Change in benefit obligation: | ||
Defined Benefit Plan, Interest Cost | 2 | 3 |
Change in plan assets: | ||
Defined Benefit Plan, Fair Value of Plan Assets | 12 | |
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 12 |
Other Postretirement Benefits | ||
Change in benefit obligation: | ||
Defined Benefit Plan, Benefit Obligation | 166 | 181 |
Defined Benefit Plan, Interest Cost | 4 | 4 |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 7 | 0 |
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31) | (20) | (21) |
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | (1) | 2 |
Defined Benefit Plan, Benefit Obligation | 156 | 166 |
Change in plan assets: | ||
Defined Benefit Plan, Fair Value of Plan Assets | 256 | 261 |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 11 | 6 |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 10 | 10 |
Defined Benefit Plan, Fair Value of Plan Assets | 257 | 256 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan | (101) | (90) |
Amounts recognized in the consolidated balance sheets consist of: | ||
Assets for Plan Benefits, Defined Benefit Plan | 127 | 114 |
Liability, Defined Benefit Plan, Current | (2) | (2) |
Liability, Defined Benefit Plan, Noncurrent | (24) | (23) |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | 101 | 89 |
Amounts recognized in accumulated other comprehensive loss (pre-tax basis) consist of: | ||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax | (18) | (13) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax | 21 | 15 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | 3 | 2 |
Defined Benefit Plan, Plan Assets, Benefits Paid | 20 | 21 |
Funded Plans [Member] | ||
Change in benefit obligation: | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | (18) | |
Change in plan assets: | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | (18) | |
Funded Plans [Member] | Pension Benefits | ||
Change in benefit obligation: | ||
Defined Benefit Plan, Benefit Obligation | 18 | 20 |
Defined Benefit Plan, Interest Cost | 1 | 1 |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 0 | 0 |
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31) | (2) | (1) |
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | 2 | (2) |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | |
Defined Benefit Plan, Benefit Obligation | 1 | 18 |
Change in plan assets: | ||
Defined Benefit Plan, Fair Value of Plan Assets | 12 | 15 |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 3 | (2) |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 6 | 0 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | |
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 12 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan | 0 | 6 |
Amounts recognized in the consolidated balance sheets consist of: | ||
Assets for Plan Benefits, Defined Benefit Plan | 0 | 0 |
Liability, Defined Benefit Plan, Current | 0 | 0 |
Liability, Defined Benefit Plan, Noncurrent | 0 | (6) |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | 0 | (6) |
Amounts recognized in accumulated other comprehensive loss (pre-tax basis) consist of: | ||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax | 0 | 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax | 0 | 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | 0 | 0 |
Defined Benefit Plan, Plan Assets, Benefits Paid | 2 | 1 |
Unfunded Plans [Member] | ||
Change in benefit obligation: | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | 0 |
Change in plan assets: | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | 0 |
Unfunded Plans [Member] | Pension Benefits | ||
Change in benefit obligation: | ||
Defined Benefit Plan, Benefit Obligation | 51 | 57 |
Defined Benefit Plan, Interest Cost | 1 | 2 |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 0 | 0 |
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31) | (6) | (7) |
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | 1 | (1) |
Defined Benefit Plan, Benefit Obligation | 47 | 51 |
Change in plan assets: | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 0 | 0 |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | 0 |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan | 47 | 51 |
Amounts recognized in the consolidated balance sheets consist of: | ||
Assets for Plan Benefits, Defined Benefit Plan | 0 | 0 |
Liability, Defined Benefit Plan, Current | (8) | (7) |
Liability, Defined Benefit Plan, Noncurrent | (39) | (44) |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | (47) | (51) |
Amounts recognized in accumulated other comprehensive loss (pre-tax basis) consist of: | ||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax | 5 | 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax | 0 | 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | 5 | 0 |
Defined Benefit Plan, Plan Assets, Benefits Paid | $ 0 | $ 0 |
Retirement Benefits (Accumulate
Retirement Benefits (Accumulated Benefit Obligation In Excess of Plan Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Other Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | $ 156 | $ 166 |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Fair Value of Plan Assets | 257 | 256 |
Funded Plans [Member] | Pension Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | 1 | 18 |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 1 | 18 |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Fair Value of Plan Assets | 1 | 12 |
Unfunded Plans [Member] | Pension Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | 47 | 51 |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 47 | 51 |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Fair Value of Plan Assets | $ 0 | $ 0 |
Retirement Benefits (Net Period
Retirement Benefits (Net Periodic Benefit Costs Schedule) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Pension Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Interest Cost | $ 2 | $ 3 |
Defined Benefit Plan, Expected Return (Loss) on Plan Assets | 0 | (1) |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | 2 | 2 |
Other Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Interest Cost | 4 | 4 |
Defined Benefit Plan, Expected Return (Loss) on Plan Assets | (9) | (8) |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 2 | 1 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ (3) | $ (3) |
Retirement Benefits (Benefit As
Retirement Benefits (Benefit Assumptions) (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year | 7.20% | 6.73% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.99% | 4.96% |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2,023 | 2,021 |
Pension Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.27% | 3.65% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.52% | 3.60% |
Expected long term return on assets, tax exempt accounts | 3.50% | 3.50% |
Other Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 2.34% | 2.34% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.10% | 3.06% |
Expected long term return on assets, tax exempt accounts | 7.00% | 7.00% |
Expected long term return on assets, taxable accounts | 4.50% | 4.50% |
Retirement Benefits (Fair Value
Retirement Benefits (Fair Value of Plan Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 257 | $ 256 | $ 261 |
Pension Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 12 | |
Cash and Cash Equivalents [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 33 | 23 | |
Mutual Fund [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 154 | 142 | |
Mutual Fund [Member] | Pension Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 12 | |
Fixed Income Securities [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 70 | 91 | |
Level 1 [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 187 | 165 | |
Level 1 [Member] | Pension Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 12 | |
Level 1 [Member] | Cash and Cash Equivalents [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 33 | 23 | |
Level 1 [Member] | Mutual Fund [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 154 | 142 | |
Level 1 [Member] | Mutual Fund [Member] | Pension Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 12 | |
Level 1 [Member] | Fixed Income Securities [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 2 [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 70 | 91 | |
Level 2 [Member] | Pension Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 2 [Member] | Cash and Cash Equivalents [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 2 [Member] | Mutual Fund [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 2 [Member] | Mutual Fund [Member] | Pension Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 2 [Member] | Fixed Income Securities [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 70 | 91 | |
Level 3 [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 3 [Member] | Pension Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 3 [Member] | Cash and Cash Equivalents [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 3 [Member] | Mutual Fund [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 3 [Member] | Mutual Fund [Member] | Pension Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Level 3 [Member] | Fixed Income Securities [Member] | Other Postretirement Benefits | |||
Fair Value of Plan Assets [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 0 | $ 0 |
Retirement Benefits (Benefit Pa
Retirement Benefits (Benefit Payments) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Other Postretirement Benefits (Gross, Before Medicare Part D) [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | $ 24 |
2,018 | 23 |
2,019 | 21 |
2,020 | 19 |
2,021 | 17 |
2022-2026 | 37 |
Unfunded Plans [Member] | Pension Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | 8 |
2,018 | 6 |
2,019 | 6 |
2,020 | 5 |
2,021 | 4 |
2022-2026 | $ 15 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 303 | $ 221 | $ 290 |
Reportable Segments (Operating
Reportable Segments (Operating Segments) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | [1] | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [1] | Sep. 30, 2015 | [1] | Jun. 30, 2015 | [1] | Mar. 31, 2015 | [1] | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Revenues | $ 11,452 | $ 9,984 | $ 9,427 | $ 9,660 | $ 9,323 | $ 8,156 | $ 7,866 | $ 6,447 | $ 40,523 | $ 31,792 | [1],[2] | $ 36,096 | [2] | |||||||
Cost of products sold | 30,966 | 23,693 | [2] | 28,668 | [2] | |||||||||||||||
Depreciation, depletion and amortization | 2,554 | 2,216 | [2] | 1,951 | [2] | |||||||||||||||
Equity in earnings from unconsolidated affiliates | 144 | 270 | [2] | 276 | [2] | |||||||||||||||
Investment In ETP [Member] | ||||||||||||||||||||
Revenues | 29,054 | 21,827 | 34,292 | |||||||||||||||||
Cost of products sold | 20,801 | 15,080 | 26,714 | |||||||||||||||||
Depreciation, depletion and amortization | 2,332 | 1,986 | 1,929 | |||||||||||||||||
Equity in earnings from unconsolidated affiliates | 156 | 59 | 469 | |||||||||||||||||
Investment In Sunoco LP [Member] | ||||||||||||||||||||
Revenues | 11,723 | 9,986 | 12,430 | |||||||||||||||||
Cost of products sold | 10,615 | 8,830 | 11,450 | |||||||||||||||||
Depreciation, depletion and amortization | 169 | 176 | 150 | |||||||||||||||||
Investment in Lake Charles LNG [Member] | ||||||||||||||||||||
Depreciation, depletion and amortization | 39 | 39 | 39 | |||||||||||||||||
Corporate and Other [Member] | ||||||||||||||||||||
Depreciation, depletion and amortization | 14 | 15 | 17 | |||||||||||||||||
Adjustments and Eliminations [Member] | ||||||||||||||||||||
Revenues | (451) | (218) | (10,842) | |||||||||||||||||
Cost of products sold | (450) | (217) | (9,496) | |||||||||||||||||
Depreciation, depletion and amortization | 0 | 0 | (184) | |||||||||||||||||
Equity in earnings from unconsolidated affiliates | (12) | 211 | (193) | |||||||||||||||||
External Customers [Member] | ||||||||||||||||||||
Revenues | 11,713 | 9,977 | 12,419 | |||||||||||||||||
External Customers [Member] | Investment In ETP [Member] | ||||||||||||||||||||
Revenues | 28,613 | 21,618 | 34,156 | |||||||||||||||||
External Customers [Member] | Investment In Sunoco LP [Member] | ||||||||||||||||||||
Revenues | 11,713 | 9,977 | 12,419 | |||||||||||||||||
External Customers [Member] | Investment in Lake Charles LNG [Member] | ||||||||||||||||||||
Revenues | 197 | 197 | 216 | |||||||||||||||||
Intersegment [Member] | Investment In ETP [Member] | ||||||||||||||||||||
Revenues | 441 | 209 | 136 | |||||||||||||||||
Intersegment [Member] | Investment In Sunoco LP [Member] | ||||||||||||||||||||
Revenues | $ 10 | $ 9 | $ 11 | |||||||||||||||||
[1] | * As adjusted. See Note 2 and Note 3. | |||||||||||||||||||
[2] | * As adjusted. See Note 2. |
Reportable Segments (Equity in
Reportable Segments (Equity in earnings of unconsolidated affiliates) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Segment Reporting Information [Line Items] | |||||
Equity in earnings from unconsolidated affiliates | $ 144 | $ 270 | [1] | $ 276 | [1] |
Investment In ETP [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Equity in earnings from unconsolidated affiliates | 156 | 59 | 469 | ||
Adjustments and Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Equity in earnings from unconsolidated affiliates | $ (12) | $ 211 | $ (193) | ||
[1] | * As adjusted. See Note 2. |
Reportable Segments Reportable
Reportable Segments Reportable Segments (Segment Adjusted EBITDA) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | [2] | Jun. 30, 2016 | [2] | Mar. 31, 2016 | [2] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Adjusted EBITDA | $ 7,320 | $ 6,135 | $ 5,738 | |||||||||||||||||
Depreciation, depletion and amortization | (2,554) | (2,216) | [1] | (1,951) | [1] | |||||||||||||||
Interest expense, net of interest capitalized | (1,922) | (1,804) | [1] | (1,622) | [1] | |||||||||||||||
Gains on acquisitions | 0 | 83 | [1] | 0 | [1] | |||||||||||||||
Impairment of investments in unconsolidated affiliates | (313) | (308) | [1] | 0 | [1] | |||||||||||||||
Impairment losses | 1,039 | 1,040 | [1] | 339 | [1] | |||||||||||||||
Losses on interest rate derivatives | (37) | (12) | [1] | (18) | [1] | |||||||||||||||
Non-cash unit-based compensation expense | (99) | (70) | [1] | (91) | [1] | |||||||||||||||
Losses on interest rate derivatives | 59 | (136) | (65) | |||||||||||||||||
Losses on extinguishments of debt | (89) | 0 | [1] | (43) | [1] | |||||||||||||||
Inventory valuation adjustments | 24 | 97 | [1] | (67) | [1] | |||||||||||||||
Adjusted EBITDA related to discontinued operations | (223) | (199) | (228) | |||||||||||||||||
Adjusted EBITDA related to unconsolidated affiliates | (716) | (675) | (713) | |||||||||||||||||
Equity in earnings from unconsolidated affiliates | 144 | 270 | [1] | 276 | [1] | |||||||||||||||
Other, net | 155 | 79 | 23 | |||||||||||||||||
Income from continuing operations before income tax benefit | 710 | 204 | [1] | 900 | [1] | |||||||||||||||
Income tax benefit from continuing operations | (1,833) | (258) | [1] | (123) | [1] | |||||||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 2,543 | 462 | [1] | 1,023 | [1] | |||||||||||||||
Income (loss) from discontinued operations, net of income taxes | (177) | (462) | [1] | 38 | [1] | |||||||||||||||
Net income | $ 1,168 | $ 758 | $ 121 | $ 319 | $ (734) | $ (3) | $ 417 | $ 320 | 2,366 | 0 | [1],[2] | 1,061 | [1] | |||||||
Investment In ETP [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Adjusted EBITDA | 6,712 | 5,733 | 5,517 | |||||||||||||||||
Depreciation, depletion and amortization | (2,332) | (1,986) | (1,929) | |||||||||||||||||
Equity in earnings from unconsolidated affiliates | 156 | 59 | 469 | |||||||||||||||||
Investment In Sunoco LP [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Adjusted EBITDA | 732 | 665 | 719 | |||||||||||||||||
Depreciation, depletion and amortization | (169) | (176) | (150) | |||||||||||||||||
Investment in Lake Charles LNG [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Adjusted EBITDA | 175 | 179 | 196 | |||||||||||||||||
Depreciation, depletion and amortization | (39) | (39) | (39) | |||||||||||||||||
Corporate and Other [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Adjusted EBITDA | (31) | (170) | (104) | |||||||||||||||||
Depreciation, depletion and amortization | (14) | (15) | (17) | |||||||||||||||||
Adjustments and Eliminations [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Adjusted EBITDA | (268) | (272) | (590) | |||||||||||||||||
Depreciation, depletion and amortization | 0 | 0 | 184 | |||||||||||||||||
Equity in earnings from unconsolidated affiliates | $ (12) | $ 211 | $ (193) | |||||||||||||||||
[1] | * As adjusted. See Note 2. | |||||||||||||||||||
[2] | * As adjusted. See Note 2 and Note 3. |
Reportable Segments (Assets Seg
Reportable Segments (Assets Segments)(Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Assets | $ 86,246 | $ 78,925 | [1] | $ 71,144 |
Investment In ETP [Member] | ||||
Assets | 77,965 | 70,105 | 65,128 | |
Investment In Sunoco LP [Member] | ||||
Assets | 8,344 | 8,701 | 8,842 | |
Investment in Lake Charles LNG [Member] | ||||
Assets | 1,646 | 1,508 | 1,369 | |
Corporate and Other [Member] | ||||
Assets | 598 | 711 | 638 | |
Adjustments and Eliminations [Member] | ||||
Assets | $ (2,307) | $ (2,100) | $ (4,833) | |
[1] | * As adjusted. See Note 2. |
Reporting Segments (Additions T
Reporting Segments (Additions To Property Plant And Equipment Including Acquisitions Net Of Contributions In Aid Of Construction Costs Segments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Property, Plant and Equipment, Additions | $ 6,006 | $ 5,929 | $ 8,223 |
Investment In ETP [Member] | |||
Segment Reporting Information [Line Items] | |||
Property, Plant and Equipment, Additions | 5,901 | 5,810 | 8,167 |
Investment In Sunoco LP [Member] | |||
Segment Reporting Information [Line Items] | |||
Property, Plant and Equipment, Additions | 103 | 119 | 178 |
Investment in Lake Charles LNG [Member] | |||
Segment Reporting Information [Line Items] | |||
Property, Plant and Equipment, Additions | 2 | 0 | 1 |
Adjustments and Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Property, Plant and Equipment, Additions | $ 0 | $ 0 | $ (123) |
Reportable Segments (Advances t
Reportable Segments (Advances to and investments in affiliates) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | ||||
Advances to and investments in unconsolidated affiliates | $ 2,705 | $ 3,040 | [1] | $ 3,462 |
Investment In ETP [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Advances to and investments in unconsolidated affiliates | 3,816 | 4,280 | 5,003 | |
Adjustments and Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Advances to and investments in unconsolidated affiliates | $ (1,111) | $ (1,240) | $ (1,541) | |
[1] | * As adjusted. See Note 2. |
Reportable Segments Revenue (De
Reportable Segments Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | [1] | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [1] | Sep. 30, 2015 | [1] | Jun. 30, 2015 | [1] | Mar. 31, 2015 | [1] | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | $ 11,452 | $ 9,984 | $ 9,427 | $ 9,660 | $ 9,323 | $ 8,156 | $ 7,866 | $ 6,447 | $ 40,523 | $ 31,792 | [1],[2] | $ 36,096 | [2] | |||||||
External Customers [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 11,713 | 9,977 | 12,419 | |||||||||||||||||
Investment In Sunoco LP [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 11,723 | 9,986 | 12,430 | |||||||||||||||||
Investment In Sunoco LP [Member] | Retail [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 2,263 | 1,991 | 2,226 | |||||||||||||||||
Investment In Sunoco LP [Member] | Wholesale [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 9,460 | 7,995 | 10,204 | |||||||||||||||||
Investment In Sunoco LP [Member] | External Customers [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 11,713 | 9,977 | 12,419 | |||||||||||||||||
Investment In Sunoco LP [Member] | Intersegment [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 10 | 9 | 11 | |||||||||||||||||
Investment In ETP [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 29,054 | 21,827 | 34,292 | |||||||||||||||||
Investment In ETP [Member] | Intrastate Transportation And Storage [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 2,891 | 2,155 | 1,912 | |||||||||||||||||
Investment In ETP [Member] | Interstate Transportation and Storage [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 915 | 946 | 1,008 | |||||||||||||||||
Investment In ETP [Member] | Midstream [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 2,510 | 2,342 | 2,607 | |||||||||||||||||
Investment In ETP [Member] | NGL and refined products transportation and services [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 8,326 | 5,973 | 4,569 | |||||||||||||||||
Investment In ETP [Member] | Investment in Sunoco Logistics [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 11,672 | 7,539 | 8,980 | |||||||||||||||||
Investment In ETP [Member] | Other Segments [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 2,740 | 2,872 | 15,216 | |||||||||||||||||
Investment In ETP [Member] | External Customers [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | 28,613 | 21,618 | 34,156 | |||||||||||||||||
Investment In ETP [Member] | Intersegment [Member] | ||||||||||||||||||||
Revenue from External Customer [Line Items] | ||||||||||||||||||||
Revenues | $ 441 | $ 209 | $ 136 | |||||||||||||||||
[1] | * As adjusted. See Note 2 and Note 3. | |||||||||||||||||||
[2] | * As adjusted. See Note 2. |
Reportable Segments (Lake Charl
Reportable Segments (Lake Charles Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | [1] | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [1] | Sep. 30, 2015 | [1] | Jun. 30, 2015 | [1] | Mar. 31, 2015 | [1] | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Revenues | $ 11,452 | $ 9,984 | $ 9,427 | $ 9,660 | $ 9,323 | $ 8,156 | $ 7,866 | $ 6,447 | $ 40,523 | $ 31,792 | [1],[2] | $ 36,096 | [2] | |||||||
External Customers [Member] | ||||||||||||||||||||
Revenues | 11,713 | 9,977 | 12,419 | |||||||||||||||||
Investment in Lake Charles LNG [Member] | External Customers [Member] | ||||||||||||||||||||
Revenues | $ 197 | $ 197 | $ 216 | |||||||||||||||||
[1] | * As adjusted. See Note 2 and Note 3. | |||||||||||||||||||
[2] | * As adjusted. See Note 2. |
Quarterly Financial Data (Un113
Quarterly Financial Data (Unaudited) (Schedule of Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | [1] | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [1] | Sep. 30, 2015 | [1] | Jun. 30, 2015 | [1] | Mar. 31, 2015 | [1] | Dec. 31, 2017 | Dec. 31, 2016 | [1],[2] | Dec. 31, 2015 | [2] | |
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||||||
Revenues | $ 11,452 | $ 9,984 | $ 9,427 | $ 9,660 | $ 9,323 | $ 8,156 | $ 7,866 | $ 6,447 | $ 40,523 | $ 31,792 | $ 36,096 | |||||||||
Operating income (loss) | 285 | 924 | 746 | 758 | (275) | 624 | 814 | 680 | 2,713 | 1,843 | 2,287 | |||||||||
Net income (loss) | 1,168 | 758 | 121 | 319 | (734) | (3) | 417 | 320 | 2,366 | 0 | 1,061 | |||||||||
Limited Partners’ interest in net income | $ 239 | $ 240 | $ 204 | $ 232 | $ 226 | $ 207 | $ 239 | $ 311 | $ 915 | $ 983 | $ 1,183 | |||||||||
Basic net income per limited partner unit | $ 0.22 | $ 0.22 | $ 0.18 | $ 0.22 | $ 0.22 | $ 0.20 | $ 0.23 | $ 0.30 | $ 0.85 | $ 0.94 | $ 1.11 | |||||||||
Diluted net income per limited partner unit | $ 0.22 | $ 0.22 | $ 0.18 | $ 0.21 | $ 0.21 | $ 0.19 | $ 0.23 | $ 0.30 | $ 0.83 | $ 0.92 | $ 1.11 | |||||||||
[1] | * As adjusted. See Note 2 and Note 3. | |||||||||||||||||||
[2] | * As adjusted. See Note 2. |
Quarterly Financial Data (Un114
Quarterly Financial Data (Unaudited) Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | [1] | Dec. 31, 2015 | [1] | |
Income Statement [Abstract] | |||||
Impairment losses | $ 1,039 | $ 1,040 | $ 339 | ||
Impairment of investments in unconsolidated affiliates | $ 313 | $ 308 | $ 0 | ||
[1] | * As adjusted. See Note 2. |
Supplemental Financial State115
Supplemental Financial Statement Information (Schedule Of Balance Sheets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Cash and cash equivalents | $ 336 | $ 467 | [1] | $ 585 | [1] | $ 839 | [1] |
Accounts receivable from related companies | 53 | 47 | [1] | ||||
Other current assets | 295 | 447 | [1] | ||||
Total current assets | 10,683 | 6,899 | [1] | ||||
Property, Plant and Equipment, Net | 61,088 | 53,578 | [1] | ||||
Advances to and investments in unconsolidated affiliates | 2,705 | 3,040 | [1] | 3,462 | |||
Intangible assets, net | 6,116 | 5,512 | [1] | ||||
Goodwill | 4,768 | 5,670 | [1] | 6,056 | |||
OTHER NON-CURRENT ASSETS, net | 886 | 815 | [1] | ||||
Total assets | 86,246 | 78,925 | [1] | 71,144 | |||
Accounts Payable, Current | 4,685 | 3,502 | [1] | ||||
Accounts payable to related companies | 31 | 42 | [1] | ||||
Interest payable | 552 | 545 | |||||
Accrued and other current liabilities | 2,582 | 2,367 | [1] | ||||
Total current liabilities | 7,897 | 7,277 | [1] | ||||
Long-term debt, less current maturities | 43,671 | 42,608 | [1] | ||||
Other non-current liabilities | 1,217 | 1,075 | [1] | ||||
COMMITMENTS AND CONTINGENCIES | [1] | ||||||
General Partner | (3) | (3) | [1] | ||||
Common Unitholders (1,079,145,561 and 1,046,947,157 units authorized, issued and outstanding as of December 31, 2017 and 2016, respectively) | (1,643) | (1,871) | [1] | ||||
Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017 and 2016) | 450 | 180 | [1] | ||||
Accumulated other comprehensive loss | 0 | 0 | [1] | ||||
Total partners’ deficit | (1,196) | (1,694) | [1] | 24,485 | |||
Total liabilities and equity | 86,246 | 78,925 | [1] | ||||
Parent Company [Member] | |||||||
Cash and cash equivalents | 1 | 2 | $ 1 | $ 2 | |||
Accounts receivable from related companies | 65 | 55 | |||||
Other current assets | 1 | 0 | |||||
Total current assets | 67 | 57 | |||||
Property, Plant and Equipment, Net | 27 | 36 | |||||
Advances to and investments in unconsolidated affiliates | 6,082 | 5,088 | |||||
Intangible assets, net | 0 | 1 | |||||
Goodwill | 9 | 9 | |||||
OTHER NON-CURRENT ASSETS, net | 8 | 10 | |||||
Total assets | 6,193 | 5,201 | |||||
Accounts Payable, Current | 0 | 1 | |||||
Accounts payable to related companies | 0 | 22 | |||||
Interest payable | 66 | 66 | |||||
Accrued and other current liabilities | 4 | 3 | |||||
Total current liabilities | 70 | 92 | |||||
Long-term debt, less current maturities | 6,700 | 6,358 | |||||
NOTE PAYABLE TO AFFILIATE | 617 | 443 | |||||
Other non-current liabilities | 2 | 2 | |||||
COMMITMENTS AND CONTINGENCIES | |||||||
General Partner | (3) | (3) | |||||
Common Unitholders (1,079,145,561 and 1,046,947,157 units authorized, issued and outstanding as of December 31, 2017 and 2016, respectively) | (1,643) | (1,871) | |||||
Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017 and 2016) | 450 | 180 | |||||
Total partners’ deficit | (1,196) | (1,694) | |||||
Total liabilities and equity | $ 6,193 | $ 5,201 | |||||
[1] | * As adjusted. See Note 2. |
Supplemental Financial State116
Supplemental Financial Statement Information (Schedule Of Statements Of Operations) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | [2] | Jun. 30, 2016 | [2] | Mar. 31, 2016 | [2] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | $ (607) | $ (693) | [1] | $ (548) | [1] | |||||||||||||||
Interest expense, net of interest capitalized | (1,922) | (1,804) | [1] | (1,622) | [1] | |||||||||||||||
Equity in earnings from unconsolidated affiliates | 144 | 270 | [1] | 276 | [1] | |||||||||||||||
Gains on interest rate derivatives | (37) | (12) | [1] | (18) | [1] | |||||||||||||||
Losses on extinguishments of debt | (89) | 0 | [1] | (43) | [1] | |||||||||||||||
Other, net | 214 | 132 | [1] | 20 | [1] | |||||||||||||||
Income tax expense | (1,833) | (258) | [1] | (123) | [1] | |||||||||||||||
NET INCOME ATTRIBUTABLE TO PARTNERS | 954 | 995 | [1] | 1,189 | [1] | |||||||||||||||
General Partner’s interest in net income | 2 | 3 | [1] | 3 | [1] | |||||||||||||||
Convertible Unitholders’ interest in net income | 37 | 9 | [1] | 0 | [1] | |||||||||||||||
Class D Unitholder’s interest in net income | 0 | 0 | [1] | 3 | [1] | |||||||||||||||
Limited Partners’ interest in net income | $ 239 | $ 240 | $ 204 | $ 232 | $ 226 | $ 207 | $ 239 | $ 311 | 915 | 983 | [1],[2] | 1,183 | [1] | |||||||
Parent Company [Member] | ||||||||||||||||||||
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | (31) | (185) | (112) | |||||||||||||||||
Interest expense, net of interest capitalized | (347) | (327) | (294) | |||||||||||||||||
Equity in earnings from unconsolidated affiliates | 1,381 | 1,511 | 1,601 | |||||||||||||||||
Losses on extinguishments of debt | (47) | 0 | 0 | |||||||||||||||||
Other, net | (2) | (4) | (5) | |||||||||||||||||
INCOME BEFORE INCOME TAXES | 954 | 995 | 1,190 | |||||||||||||||||
Income tax expense | 0 | 0 | 1 | |||||||||||||||||
NET INCOME ATTRIBUTABLE TO PARTNERS | 954 | 995 | 1,189 | |||||||||||||||||
General Partner’s interest in net income | 2 | 3 | 3 | |||||||||||||||||
Convertible Unitholders’ interest in net income | 37 | 9 | 0 | |||||||||||||||||
Class D Unitholder’s interest in net income | 0 | 0 | 3 | |||||||||||||||||
Limited Partners’ interest in net income | $ 915 | $ 983 | $ 1,183 | |||||||||||||||||
[1] | * As adjusted. See Note 2. | |||||||||||||||||||
[2] | * As adjusted. See Note 2 and Note 3. |
Supplemental Financial State117
Supplemental Financial Statement Information (Schedule Of Statements Of Cash Flows) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||||||
Aug. 31, 2017 | Jan. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES | $ 4,429 | $ 3,322 | [1] | $ 2,979 | [1] | |||
Cash paid for Bakken Pipeline Transaction | (303) | (1,398) | [1] | (777) | [1] | |||
Proceeds from the sale of other assets | 48 | 35 | [1] | 14 | [1] | |||
Contributions to unconsolidated affiliates | 268 | 68 | [1] | 45 | [1] | |||
Capital expenditures | (8,444) | (7,771) | [1] | (9,073) | [1] | |||
Net cash used in investing activities | (5,606) | (8,982) | [1] | (9,735) | [1] | |||
Proceeds from borrowings | 31,608 | 25,785 | [1] | 26,455 | [1] | |||
Repayments of long-term debt | (31,268) | (19,076) | [1] | (19,828) | [1] | |||
Distributions to partners | (1,010) | (1,022) | [1] | (1,090) | [1] | |||
Cash received from affiliate notes | 0 | 5,317 | [1] | 0 | [1] | |||
Redemption of Preferred Units | $ (53) | |||||||
Proceeds from Issuance of Common Limited Partners Units | $ 997 | 568 | 0 | [1] | 0 | [1] | ||
Units repurchased under buyback program | 0 | 0 | [1] | (1,064) | [1] | |||
Debt issuance costs | (131) | (52) | [1] | (75) | [1] | |||
Net cash provided by financing activities | 953 | 5,927 | [1] | 6,785 | [1] | |||
Decrease in cash and cash equivalents | (131) | (118) | [1] | (254) | [1] | |||
Cash and cash equivalents, beginning of period | [1] | 467 | 467 | 585 | 839 | |||
Cash and cash equivalents, end of period | 336 | 467 | [1] | 585 | [1] | |||
Parent Company [Member] | ||||||||
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES | 831 | 918 | 1,103 | |||||
Cash paid for Bakken Pipeline Transaction | 0 | 0 | (817) | |||||
Contributions to unconsolidated affiliates | 861 | 70 | 0 | |||||
Capital expenditures | (1) | (16) | (19) | |||||
Payments to Acquire Additional Interest in Subsidiaries | 7 | 0 | 0 | |||||
Net cash used in investing activities | (855) | (86) | (836) | |||||
Proceeds from borrowings | 2,219 | 225 | 3,672 | |||||
Repayments of long-term debt | (1,881) | (210) | (1,985) | |||||
Distributions to partners | (1,010) | (1,022) | (1,090) | |||||
Cash received from affiliate notes | 174 | 176 | 210 | |||||
Proceeds from Issuance of Common Limited Partners Units | 568 | 0 | 0 | |||||
Units repurchased under buyback program | 0 | 0 | (1,064) | |||||
Debt issuance costs | (47) | 0 | (11) | |||||
Net cash provided by financing activities | 23 | (831) | (268) | |||||
Decrease in cash and cash equivalents | (1) | 1 | (1) | |||||
Cash and cash equivalents, beginning of period | $ 2 | 2 | 1 | 2 | ||||
Cash and cash equivalents, end of period | $ 1 | $ 2 | $ 1 | |||||
[1] | * As adjusted. See Note 2. |
Supplemental Financial State118
Supplemental Financial Statement Information Supplemental Financial Information (Balance Sheet Units) (Details) - shares | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Authorized | 1,079,145,561 | 1,046,947,157 | |||
Issued | 1,079,145,561 | 1,046,947,157 | |||
Outstanding | 1,079,145,561 | 1,046,947,157 | 1,044,800,000 | 1,077,500,000 | |
Preferred Units, Authorized | 329,299,267 | 329,299,267 | |||
Preferred Units, Issued | 329,299,267 | 329,299,267 | |||
Preferred Units, Outstanding | 329,299,267 | 329,299,267 | |||
Class D Units [Member] | |||||
Outstanding | 3,080,000 |