Spectra Energy Partners 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	SEP
Entity Registrant Name	SPECTRA ENERGY PARTNERS, LP
Entity Central Index Key	1394074
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	295,435,903
Entity General Partner, Units Outstanding	6,029,304

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating Revenues
Transportation of natural gas	$464	$426
Transportation of crude oil	84	71
Storage of natural gas and other	58	84
Total operating revenues	606	581
Operating Expenses
Operating, maintenance and other	181	156
Depreciation and amortization	73	73
Property and other taxes	41	44
Total operating expenses	295	273
Operating Income	311	308
Other Income and Expenses
Equity in earnings of unconsolidated affiliates	40	28
Other income and expenses, net	9	3
Total other income and expenses	49	31
Interest Expense	57	67
Earnings Before Income Taxes	303	272
Income Tax Expense	2	26
Net Income	301	246
Net Income—Noncontrolling Interests	8	4
Net Income—Controlling Interests	293	242
Calculation of Limited Partners’ Interest in Net Income:
Net Income—Controlling Interests	293	242
Less: General partner’s interest in net income	57	42
Limited partners’ interest in net income	$236	$200
Weighted-average limited partner units outstanding—basic and diluted	295	284
Net income per limited partner unit-basic and diluted (in dollars per share)	$0.80	$0.70
Distributions paid per limited partner unit	$0.59	$0.55

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net Income	$301	$246
Other comprehensive loss:
Foreign currency translation adjustments	-15	-5
Total other comprehensive loss	-15	-5
Total Comprehensive Income	286	241
Less: Comprehensive Income—Noncontrolling Interests	8	4
Comprehensive Income—Controlling Interests	$278	$237

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Current Assets
Cash and cash equivalents	$242	$140
Receivables, net	310	306
Inventory	41	42
Fuel tracker	58	44
Other	21	23
Total current assets	672	555
Investments and Other Assets
Investments in and loans to unconsolidated affiliates	1,584	1,589
Goodwill	3,238	3,244
Other	16	8
Total investments and other assets	4,838	4,841
Property, Plant and Equipment
Cost	15,792	15,594
Less accumulated depreciation and amortization	3,523	3,459
Net property, plant and equipment	12,269	12,135
Regulatory Assets and Deferred Debits	277	262
Total Assets	18,056	17,793
Current Liabilities
Accounts payable	167	246
Commercial paper	121	907
Taxes accrued	58	63
Interest accrued	36	60
Current Maturities of long-term debt	36	36
Other	175	170
Total current liabilities	593	1,482
Long-term Debt	6,147	5,149
Deferred Credits and Other Liabilities
Deferred income taxes	38	37
Regulatory and other	114	119
Total deferred credits and other liabilities	152	156
Commitments and Contingencies
Partners’ Capital
Common units (295.4 million and 294.7 million units issued and outstanding at March 31, 2015 and December 31, 2014, respectively)	10,576	10,474
General partner units (6.0 million units issued and outstanding at March 31, 2015 and December 31, 2014)	296	284
Accumulated other comprehensive loss	-35	-20
Total partners’ capital	10,837	10,738
Noncontrolling interests	327	268
Total equity	11,164	11,006
Total Liabilities and Equity	$18,056	$17,793

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Common units, units issued	295.4	294.7
Common units, units outstanding	295.4	294.7
General partner units, units issued	6	6
General partner units, units outstanding	6	6

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$301	$246
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	75	75
Deferred income tax expense	1	24
Equity in earnings of unconsolidated affiliates	-40	-28
Distributions received from unconsolidated affiliates	38	27
Other	-94	10
Net cash provided by operating activities	281	354
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	-240	-181
Investments in and loans to unconsolidated affiliates	-15	-18
Purchases of held-to-maturity securities	-10	-11
Proceeds from sales and maturities of held-to-maturity securities	3	3
Distributions received from unconsolidated affiliates	18	22
Other	0	15
Net cash used in investing activities	-244	-170
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	994	0
Net decrease in commercial paper	-786	-54
Distributions to noncontrolling interests	-7	-5
Contributions from noncontrolling interests	58	6
Proceeds from the issuances of units	40	53
Distributions to partners	-226	-195
Other	-8	0
Net cash provided by (used in) financing activities	65	-195
Net increase (decrease) in cash and cash equivalents	102	-11
Cash and cash equivalents at beginning of period	140	121
Cash and cash equivalents at end of period	242	110
Supplemental Disclosures
Property, plant and equipment non-cash accruals	$67	$57

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Equity (Unaudited) (USD $)	Total	Limited Partners Common	General Partner	Accumulated Other Comprehensive Loss	Noncontrolling Interests
In Millions, unless otherwise specified
Beginning balance at Dec. 31, 2013	$10,141	$9,778	$241	($5)	$127
Increase (Decrease) in Equity
Net income	246	200	42		4
Other comprehensive loss	-5			-5
Adjustment to purchase price under net acquired assets from dropdowns	29	28	1
Attributed deferred tax benefit	1	1
Issuances of units	53	52	1
Distributions to partners	-195	-156	-39
Contributions from noncontrolling interests	6				6
Distributions to noncontrolling interests	-5				-5
Other, net	-2	-2
Ending balance at Mar. 31, 2014	10,269	9,901	246	-10	132
Beginning balance at Dec. 31, 2014	11,006	10,474	284	-20	268
Increase (Decrease) in Equity
Net income	301	236	57		8
Other comprehensive loss	-15			-15
Attributed deferred tax benefit	7		7
Issuances of units	40	39	1
Distributions to partners	-226	-173	-53
Contributions from noncontrolling interests	58				58
Distributions to noncontrolling interests	-7				-7
Ending balance at Mar. 31, 2015	$11,164	$10,576	$296	($35)	$327

General

General	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	1. General
	The terms “we,” “our,” “us” and “Spectra Energy Partners” as used in this report refer collectively to Spectra Energy Partners, LP and its subsidiaries unless the context suggests otherwise. These terms are used for convenience only and are not intended as a precise description of any separate legal entity within Spectra Energy Partners.
	Nature of Operations. Spectra Energy Partners, through its subsidiaries and equity affiliates, is engaged in the transmission, storage and gathering of natural gas, the transportation and storage of crude oil, and the transportation of natural gas liquids (NGLs) through interstate pipeline systems. We are a Delaware master limited partnership. As of March 31, 2015, Spectra Energy Corp (Spectra Energy) and its subsidiaries collectively owned 82% of us and the remaining 18% was publicly owned.
	Basis of Presentation. The accompanying Condensed Consolidated Financial Statements include our accounts and the accounts of our majority-owned subsidiaries, after eliminating intercompany transactions and balances. These interim financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K, for the year ended December 31, 2014, and reflect all normal recurring adjustments that are, in our opinion, necessary to fairly present our results of operations and financial position. Amounts reported in the Condensed Consolidated Statements of Operations are not necessarily indicative of amounts expected for the respective annual periods.
	Spectra Energy and its affiliates are solely responsible for providing the employees and other personnel necessary to conduct our operations. Our costs of doing business have been reflected in our financial accounting records for the periods presented. These costs include direct charges and allocations from Spectra Energy and its affiliates for business services, such as payroll, accounts payable and facilities management; corporate services, such as finance and accounting, legal, human resources, investor relations, public and regulatory policy, and senior executives; and pension and other post-retirement benefit costs.
	Use of Estimates. To conform with generally accepted accounting principles (GAAP) in the United States, we make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and Notes to Condensed Consolidated Financial Statements. Although these estimates are based on our best available knowledge at the time, actual results could differ.

Business_Segments

Business Segments	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Business Segments	2. Business Segments
	We manage our business in two reportable segments: U.S. Transmission and Liquids. The remainder of our business operations is presented as “Other,” and consists of certain corporate costs.
	Our chief operating decision maker regularly reviews financial information about both segments in deciding how to allocate resources and evaluate performance. There is no aggregation of segments within our reportable business segments.
	The U.S. Transmission segment provides interstate transmission and storage of natural gas. Substantially all of our operations are subject to the Federal Energy Regulatory Commission (FERC) and the Department of Transportation’s (DOT’s) rules and regulations. Our investments in Gulfstream Natural Gas System, LLC (Gulfstream), Southeast Supply Header, LLC (SESH) and Steckman Ridge, LP (Steckman Ridge) are included in U.S. Transmission.
	The Liquids segment provides transportation of crude oil and NGLs. These operations are primarily subject to the rules and regulations of the FERC and the National Energy Board (NEB). The Express-Platte pipeline system (Express-Platte) and our investments in DCP Sand Hills Pipeline, LLC (Sand Hills) and DCP Southern Hills Pipeline, LLC (Southern Hills) are included in Liquids.
	Our reportable segments offer different products and services and are managed separately as business units. Management evaluates segment performance based on earnings from continuing operations before interest, taxes, and depreciation and amortization (EBITDA). Cash, cash equivalents and short-term investments are managed centrally, so the associated gains and losses from foreign currency remeasurement, and interest and dividend income are excluded from the segments’ EBITDA. Our segment EBITDA may not be comparable to similarly titled measures of other companies because other companies may not calculate EBITDA in the same manner.
	Business Segment Data
	Condensed Consolidated Statements of Operations	Total Operating Revenues		Depreciation and Amortization		Segment EBITDA/Consolidated Earnings Before Income Taxes
		(in millions)
	Three Months Ended March 31, 2015
	U.S. Transmission	$	522	$	65	$	389
	Liquids	84		8		64
	Total reportable segments	606		73		453
	Other	—		—		(17		)
	Depreciation and amortization	—		—		73
	Interest expense	—		—		57
	Other income	—		—		(3		)
	Total consolidated	$	606	$	73	$	303
	Three Months Ended March 31, 2014
	U.S. Transmission	$	500	$	65	$	374
	Liquids	81		8		58
	Total reportable segments	581		73		432
	Other	—		—		(19		)
	Depreciation and amortization	—		—		73
	Interest expense	—		—		67
	Other income	—		—		(1		)
	Total consolidated	$	581	$	73	$	272

Net_Income_Per_Limited_Partner

Net Income Per Limited Partner Unit and Cash Distributions	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Net Income Per Limited Partner Unit and Cash Distributions	3. Net Income Per Limited Partner Unit and Cash Distributions
	The following table presents our net income per limited partner unit calculations:
			Three Months Ended
			March 31,
			2015				2014
			(in millions, except per unit amounts)
	Net income—controlling interests		$	293			$	242
	Less:
	General partner’s interest in net income—2%		6				5
	General partner’s interest in net income attributable to incentive distribution rights		51				37
	Limited partners’ interest in net income		$	236			$	200
	Weighted average limited partner units outstanding—basic and diluted		295				284
	Net income per limited partner unit—basic and diluted		$	0.8			$	0.7
	Our partnership agreement requires that, within 60 days after the end of each quarter, we distribute all of our Available Cash, as defined, to unitholders of record on the applicable record date.
	Available Cash. Available Cash, for any quarter, consists of all cash and cash equivalents on hand at the end of that quarter:
	•	less the amount of cash reserves established by the general partner to:
	•	provide for the proper conduct of business,
	•	comply with applicable law, any debt instrument or other agreement, or
	•	provide funds for minimum quarterly distributions to the unitholders and to the general partner for any one or more of the next four quarters,
	•	plus, if the general partner so determines, all or a portion of cash and cash equivalents on hand on the date of determination of Available Cash for the quarter.
	Incentive Distribution Rights. The general partner holds incentive distribution rights beyond the first target distribution in accordance with the partnership agreement as follows:
			Total Quarterly Distribution		Marginal Percentage
					Interest in Distributions
			Target Per-Unit Amount		Common			General
					Unitholders			Partner
	Minimum Quarterly Distribution		$0.30		98	%		2	%
	First Target Distribution		up to $0.345		98	%		2	%
	Second Target Distribution		above $0.345 up to $0.375		85	%		15	%
	Third Target Distribution		above $0.375 up to $0.45		75	%		25	%
	Thereafter		above $0.45		50	%		50	%
	To the extent these incentive distributions are made to the general partner, there will be more Available Cash proportionately allocated to our general partner than to holders of common units. A cash distribution of $0.60125 per limited partner unit was declared on May 6, 2015 and is payable on May 29, 2015 to unitholders of record at the close of business on May 15, 2015.

Marketable_Securities_and_Rest

Marketable Securities and Restricted Funds	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Marketable Securities and Restricted Funds	4. Marketable Securities and Restricted Funds
	We routinely invest excess cash and various restricted balances in securities such as commercial paper, bankers acceptances, corporate debt securities, treasury bills and money market funds in the United States. We do not purchase marketable securities for speculative purposes, therefore we do not have any securities classified as trading securities. Initial investments in securities are classified as purchases of the respective type of securities (available-for-sale marketable securities or held-to-maturity (HTM) marketable securities). Maturities of securities are classified within proceeds from sales and maturities of securities in the Condensed Consolidated Statements of Cash Flows.
	HTM Securities. All of our HTM securities are restricted funds. We had $10 million and $3 million of money market securities classified as Current Assets - Other on the Condensed Consolidated Balance Sheets as of March 31, 2015 and December 31, 2014, respectively. These securities are restricted pursuant to certain Express-Platte debt agreements.
	At March 31, 2015, the weighted-average contractual maturity of outstanding HTM securities was less than one year.
	There were no material gross unrecognized holding gains or losses associated with investments in HTM securities at March 31, 2015 or December 31, 2014.

Debt_and_Credit_Facility

Debt and Credit Facility	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt and Credit Facility	5. Debt and Credit Facility
	Available Credit Facility and Restricted Debt Covenants
		Expiration Date	Total Credit Facility Capacity		Commercial		Available
					Paper Outstanding at		Credit Facility
					March 31,		Capacity
					2015
			(in millions)
	Spectra Energy Partners, LP	2019	$	2,000	$	121	$	1,879
	The issuances of commercial paper, letters of credit and revolving borrowings reduce the amount available under the credit facility. As of March 31, 2015, there were no letters of credit issued or revolving borrowings outstanding under the credit facility.
	Our credit agreements contain various covenants, including the maintenance of a consolidated leverage ratio, as defined in the agreements. Failure to meet those covenants beyond applicable grace periods could result in accelerated due dates and/or termination of the agreements. As of March 31, 2015, we were in compliance with those covenants. In addition, our credit agreements allow for acceleration of payments or termination of the agreements due to nonpayment, or in some cases, due to the acceleration of our other significant indebtedness or other significant indebtedness of some of our subsidiaries. Our debt and credit agreements do not contain provisions that trigger an acceleration of indebtedness based solely on the occurrence of a material adverse change in our financial condition or results of operations.
	As noted above, the terms of our credit agreements require us to maintain a ratio of total Consolidated Indebtedness-to-Consolidated EBITDA, as defined in the agreement, of 5.0 to 1 or less. As of March 31, 2015, this ratio was 3.8 to 1.
	Debt Issuances. On March 12, 2015, we issued $1.0 billion aggregate principal amount of senior unsecured notes, comprised of $500 million of 3.50% senior notes due in 2025 and $500 million of 4.50% senior notes due in 2045. Net proceeds from the offering were used to repay a portion of outstanding commercial paper, to fund capital expenditures and for general partnership purposes.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements
	The following presents, for each of the fair value hierarchy levels, assets that are measured at fair value on a recurring basis. There were no liabilities measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014.
	Description	Condensed Consolidated Balance Sheet Caption		31-Mar-15
				Total			Level 1			Level 2			Level 3
				(in millions)
	Corporate debt securities	Cash and cash equivalents		$	153		$	—		$	153		$	—
	Interest rate swaps	Investments and other assets — other		13			—			13			—
	Total Assets			$	166		$	—		$	166		$	—
	Description	Condensed Consolidated Balance Sheet Caption		31-Dec-14
				Total			Level 1			Level 2			Level 3
				(in millions)
	Corporate debt securities	Cash and cash equivalents		$	43		$	—		$	43		$	—
	Interest rate swaps	Investments and other assets — other		5			—			5			—
	Total Assets			$	48		$	—		$	48		$	—
	Level 1
	Level 1 valuations represent quoted unadjusted prices for identical instruments in active markets.
	Level 2 Valuation Techniques
	Fair values of our financial instruments that are actively traded in the secondary market, including our long-term debt, are determined based on market-based prices. These valuations may include inputs such as quoted market prices of the exact or similar instruments, broker or dealer quotations, or alternative pricing sources that may include models or matrix pricing tools, with reasonable levels of price transparency.
	For interest rate swaps, we utilize data obtained from a third-party source for the determination of fair value. Both the future cash flows for the fixed-leg and floating-leg of our swaps are discounted to present value.
	Level 3 Valuation Techniques
	Level 3 valuation techniques include the use of pricing models, discounted cash flow methodologies or similar techniques where at least one significant model assumption or input is unobservable. Level 3 financial instruments also include those for which the determination of fair value requires significant management judgment or estimation.
	Financial Instruments
	The fair values of financial instruments that are recorded and carried at book value are summarized in the following table. Judgment is required in interpreting market data to develop the estimates of fair value. These estimates are not necessarily indicative of the amounts we could have realized in current markets.
			31-Mar-15						31-Dec-14
			Book			Approximate			Book			Approximate
			Value			Fair Value			Value			Fair Value
			(in millions)
	Note receivable, noncurrent (a)		$	71		$	71		$	71		$	71
	Long-term debt, including current maturities (b)		6,184			6,685			5,184			5,554
	(a)	Included within Investments in and Loans to Unconsolidated Affiliates.
	(b)	Excludes unamortized items and fair value hedge carrying value adjustments.
	The fair value of our long-term debt is determined based on market-based prices as described in the Level 2 valuation technique described above and is classified as Level 2.
	The fair values of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, notes receivable-noncurrent, accounts payable, commercial paper and short-term money market securities - affiliates are not materially different from their carrying amounts because of the short-term nature of these instruments or because the stated rates approximate market rates.
	During the three month periods ended March 31, 2015 and 2014, there were no material adjustments to assets and liabilities measured at fair value on a nonrecurring basis.

Risk_Management_and_Hedging_Ac

Risk Management and Hedging Activities	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management and Hedging Activities	7. Risk Management and Hedging Activities
	Changes in interest rates expose us to risk as a result of our issuance of variable and fixed-rate debt and commercial paper. We are exposed to foreign currency risk from the Canadian portion of Express-Platte. We employ established policies and procedures to manage our risks associated with these market fluctuations, which may include the use of derivatives, mostly around interest rate exposures. For interest rate derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk is recognized in the Condensed Consolidated Statements of Operations. There were no significant amounts of gains or losses recognized in net income during the three months ended March 31, 2015.
	At March 31, 2015, we had “pay floating — receive fixed” interest rate swaps outstanding with a total notional amount of $300 million to hedge against changes in the fair value of our fixed-rate debt that arise as a result of changes in market interest rates. These swaps also allow us to transform a portion of the underlying interest payments related to our long-term fixed-rate debt securities into variable-rate interest payments in order to achieve our desired mix of fixed and variable-rate debt.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies
	Environmental
	We are subject to various U.S. federal, state and local laws and regulations, as well as Canadian federal and provincial laws, regarding air and water quality, hazardous and solid waste disposal and other environmental matters. These laws and regulations can change from time to time, imposing new obligations on us.
	Like others in the energy industry, we and our affiliates are responsible for environmental remediation at various contaminated sites. These include some properties that are part of our ongoing operations, sites formerly owned or used by us, and sites owned by third parties. Remediation typically involves management of contaminated soils and may involve groundwater remediation. Managed in conjunction with relevant federal, state/provincial and local agencies, activities vary with site conditions and locations, remedial requirements, complexity and sharing of responsibility. If remediation activities involve statutory joint and several liability provisions, strict liability, or cost recovery or contribution actions, we or our affiliates could potentially be held responsible for contamination caused by other parties. In some instances, we may share liability associated with contamination with other potentially responsible parties, and may also benefit from contractual indemnities that cover some or all cleanup costs. All of these sites generally are managed in the normal course of business or affiliated operations.
	Litigation
	Litigation and Legal Proceedings. We are involved in legal, tax and regulatory proceedings in various forums arising in the ordinary course of business, including matters regarding contract and payment claims, some of which involve substantial monetary amounts. We have insurance coverage for certain of these losses should they be incurred. We believe that the final disposition of these proceedings will not have a material effect on our consolidated results of operations, financial position or cash flows.
	Legal costs related to the defense of loss contingencies are expensed as incurred. We had no material reserves for legal matters recorded as of March 31, 2015 or December 31, 2014 related to litigation.

Issuances_of_Common_Units

Issuances of Common Units	3 Months Ended
	Mar. 31, 2015
Issuances of Common Units [Abstract]
Issuances of Common Units	9. Issuances of Common Units
	During the three months ended March 31, 2015, we issued 0.8 million common units to the public under our at-the-market program, and approximately 16,000 general partner units to Spectra Energy. Total net proceeds were $40 million, including $1 million of proceeds from Spectra Energy.

New_Accounting_Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	10. New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” which supersedes the revenue recognition requirements of “Revenue Recognition (Topic 605)” and clarifies the principles of recognizing revenue. This ASU is effective for us January 1, 2017. In April 2015, the FASB tentatively decided to defer the effective date of the new revenue standard for one year and to permit entities to early adopt the standard as of the original effective date. We are currently evaluating this ASU and its potential impact on us.
	In February 2015, the FASB issued ASU No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis", which makes changes to both the variable interest model and the voting model. These changes will require re-evaluation of certain entities for consolidation and will require us to revise our documentation regarding the consolidation or deconsolidation of such entities. ASU No. 2015-02 is effective for us January 1, 2016. We are currently evaluating this ASU and its potential impact on us.
	In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs,” which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, rather than as a deferred charge asset. ASU No. 2015-03 is effective for us January 1, 2016 and is to be applied retrospectively. This ASU is not expected to have a material impact on our consolidated results of operations, financial position or cash flow.
	In April 2015, the FASB issued ASU No. 2015-06, “Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions (a consensus of the FASB Emerging Issues Task Force),” which applies to master limited partnerships that receive net assets through a dropdown transaction. ASU 2015-06 specifies that for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a dropdown transaction should be allocated entirely to the general partner. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. ASU 2015-06 is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years and will be applied retrospectively. Earlier application is permitted. We are currently evaluating this ASU and its potential impact on us.

Summary_of_Operations_and_Sign

Summary of Operations and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Use of Estimates, Policy	Use of Estimates. To conform with generally accepted accounting principles (GAAP) in the United States, we make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and Notes to Condensed Consolidated Financial Statements. Although these estimates are based on our best available knowledge at the time, actual results could differ.
Fair Value Measurement, Policy	Level 1
	Level 1 valuations represent quoted unadjusted prices for identical instruments in active markets.
	Level 2 Valuation Techniques
	Fair values of our financial instruments that are actively traded in the secondary market, including our long-term debt, are determined based on market-based prices. These valuations may include inputs such as quoted market prices of the exact or similar instruments, broker or dealer quotations, or alternative pricing sources that may include models or matrix pricing tools, with reasonable levels of price transparency.
	For interest rate swaps, we utilize data obtained from a third-party source for the determination of fair value. Both the future cash flows for the fixed-leg and floating-leg of our swaps are discounted to present value.
	Level 3 Valuation Techniques
	Level 3 valuation techniques include the use of pricing models, discounted cash flow methodologies or similar techniques where at least one significant model assumption or input is unobservable. Level 3 financial instruments also include those for which the determination of fair value requires significant management judgment or estimation.
	Financial Instruments
	The fair values of financial instruments that are recorded and carried at book value are summarized in the following table. Judgment is required in interpreting market data to develop the estimates of fair value. These estimates are not necessarily indicative of the amounts we could have realized in current markets.
Derivatives, Offsetting Fair Value Amounts, Policy	For interest rate derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk is recognized in the Condensed Consolidated Statements of Operations.

Business_Segments_Tables

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Business Segment Data	Business Segment Data
	Condensed Consolidated Statements of Operations	Total Operating Revenues		Depreciation and Amortization		Segment EBITDA/Consolidated Earnings Before Income Taxes
		(in millions)
	Three Months Ended March 31, 2015
	U.S. Transmission	$	522	$	65	$	389
	Liquids	84		8		64
	Total reportable segments	606		73		453
	Other	—		—		(17		)
	Depreciation and amortization	—		—		73
	Interest expense	—		—		57
	Other income	—		—		(3		)
	Total consolidated	$	606	$	73	$	303
	Three Months Ended March 31, 2014
	U.S. Transmission	$	500	$	65	$	374
	Liquids	81		8		58
	Total reportable segments	581		73		432
	Other	—		—		(19		)
	Depreciation and amortization	—		—		73
	Interest expense	—		—		67
	Other income	—		—		(1		)
	Total consolidated	$	581	$	73	$	272

Net_Income_Per_Limited_Partner1

Net Income Per Limited Partner Unit and Cash Distributions (Tables)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Net Income Per Limited Partner Unit Calculations	The following table presents our net income per limited partner unit calculations:
		Three Months Ended
		March 31,
		2015				2014
		(in millions, except per unit amounts)
	Net income—controlling interests	$	293			$	242
	Less:
	General partner’s interest in net income—2%	6				5
	General partner’s interest in net income attributable to incentive distribution rights	51				37
	Limited partners’ interest in net income	$	236			$	200
	Weighted average limited partner units outstanding—basic and diluted	295				284
	Net income per limited partner unit—basic and diluted	$	0.8			$	0.7
Incentive Distribution Rights in Accordance with Partnership Agreement	Incentive Distribution Rights. The general partner holds incentive distribution rights beyond the first target distribution in accordance with the partnership agreement as follows:
		Total Quarterly Distribution		Marginal Percentage
				Interest in Distributions
		Target Per-Unit Amount		Common			General
				Unitholders			Partner
	Minimum Quarterly Distribution	$0.30		98	%		2	%
	First Target Distribution	up to $0.345		98	%		2	%
	Second Target Distribution	above $0.345 up to $0.375		85	%		15	%
	Third Target Distribution	above $0.375 up to $0.45		75	%		25	%
	Thereafter	above $0.45		50	%		50	%

Debt_and_Credit_Facility_Table

Debt and Credit Facility (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt and Credit Facility Summary	Available Credit Facility and Restricted Debt Covenants
		Expiration Date	Total Credit Facility Capacity		Commercial		Available
					Paper Outstanding at		Credit Facility
					March 31,		Capacity
					2015
			(in millions)
	Spectra Energy Partners, LP	2019	$	2,000	$	121	$	1,879

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following presents, for each of the fair value hierarchy levels, assets that are measured at fair value on a recurring basis. There were no liabilities measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014.
	Description	Condensed Consolidated Balance Sheet Caption		31-Mar-15
				Total			Level 1			Level 2			Level 3
				(in millions)
	Corporate debt securities	Cash and cash equivalents		$	153		$	—		$	153		$	—
	Interest rate swaps	Investments and other assets — other		13			—			13			—
	Total Assets			$	166		$	—		$	166		$	—
	Description	Condensed Consolidated Balance Sheet Caption		31-Dec-14
				Total			Level 1			Level 2			Level 3
				(in millions)
	Corporate debt securities	Cash and cash equivalents		$	43		$	—		$	43		$	—
	Interest rate swaps	Investments and other assets — other		5			—			5			—
	Total Assets			$	48		$	—		$	48		$	—
Fair Values of Financial Instruments That are Recorded and Carried at Book Value	The fair values of financial instruments that are recorded and carried at book value are summarized in the following table. Judgment is required in interpreting market data to develop the estimates of fair value. These estimates are not necessarily indicative of the amounts we could have realized in current markets.
			31-Mar-15						31-Dec-14
			Book			Approximate			Book			Approximate
			Value			Fair Value			Value			Fair Value
			(in millions)
	Note receivable, noncurrent (a)		$	71		$	71		$	71		$	71
	Long-term debt, including current maturities (b)		6,184			6,685			5,184			5,554
	(a)	Included within Investments in and Loans to Unconsolidated Affiliates.
	(b)	Excludes unamortized items and fair value hedge carrying value adjustments.

General_Details

General (Details)	Mar. 31, 2015
Spectra Energy Corp
Business Acquisition
Ownership percentage by parent	82.00%
Publicly Owned
Business Acquisition
Ownership percentage by public	18.00%

Business_Segments_Additional_I

Business Segments (Additional Information) (Details)	3 Months Ended
	Mar. 31, 2015
	reportable_segements
Segment Reporting Information
Number of reportable segments	2

Business_Segment_Data_Details

Business Segment Data (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information
Total operating revenues	$606	$581
Depreciation and amortization	73	73
Interest expense	57	67
Other income	-3	-1
Earnings from continuing operations before income taxes	303	272
Total Operating Segments
Segment Reporting Information
Earnings before interest taxes depreciation and amortization	453	432
US Transmission
Segment Reporting Information
Total operating revenues	522	500
Earnings before interest taxes depreciation and amortization	389	374
Depreciation and amortization	65	65
Liquids
Segment Reporting Information
Total operating revenues	84	81
Earnings before interest taxes depreciation and amortization	64	58
Depreciation and amortization	8	8
Other
Segment Reporting Information
Earnings before interest taxes depreciation and amortization	($17)	($19)

Net_Income_Per_Limited_Partner2

Net Income Per Limited Partner Unit and Cash Distributions (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Net income-controlling interests	$293	$242
Less: General partner’s interest in net income	57	42
Limited partners' interest in net income	236	200
Weighted-average limited partner units outstanding—basic and diluted	295	284
Net income per limited partner unit-basic and diluted (in dollars per share)	$0.80	$0.70
Partnership Interest
Related Party Transaction [Line Items]
Less: General partner’s interest in net income	6	5
General partner's interest in net income, ownership interest percentage	2.00%	2.00%
Incentive Distribution Rights
Related Party Transaction [Line Items]
Less: General partner’s interest in net income	$51	$37

Net_Income_Per_Limited_Partner3

Net Income Per Limited Partner Unit and Cash Distributions - Incentive Distribution Rights in Accordance with Partnership Agreement (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Minimum Quarterly Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Marginal Percentage Interest in Distributions Common Unitholders	98.00%
Marginal Percentage Interest in Distributions General Partner	2.00%
First Target Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Marginal Percentage Interest in Distributions Common Unitholders	98.00%
Marginal Percentage Interest in Distributions General Partner	2.00%
Second Target Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Marginal Percentage Interest in Distributions Common Unitholders	85.00%
Marginal Percentage Interest in Distributions General Partner	15.00%
Third Target Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Marginal Percentage Interest in Distributions Common Unitholders	75.00%
Marginal Percentage Interest in Distributions General Partner	25.00%
Target Distribution Thereafter
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Marginal Percentage Interest in Distributions Common Unitholders	50.00%
Marginal Percentage Interest in Distributions General Partner	50.00%
Minimum | Minimum Quarterly Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Total Quarterly Distribution Target Per-Unit Amount (in dollars per share)	0.3
Minimum | Second Target Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Total Quarterly Distribution Target Per-Unit Amount (in dollars per share)	0.345
Minimum | Third Target Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Total Quarterly Distribution Target Per-Unit Amount (in dollars per share)	0.375
Minimum | Target Distribution Thereafter
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Total Quarterly Distribution Target Per-Unit Amount (in dollars per share)	0.45
Maximum | First Target Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Total Quarterly Distribution Target Per-Unit Amount (in dollars per share)	0.345
Maximum | Second Target Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Total Quarterly Distribution Target Per-Unit Amount (in dollars per share)	0.375
Maximum | Third Target Distribution
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Total Quarterly Distribution Target Per-Unit Amount (in dollars per share)	0.45

Net_Income_Per_Limited_Partner4

Net Income Per Limited Partner Unit and Cash Distributions (Additional Information) (Details) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	6-May-15
Equity [Abstract]
Distribution Made To Member Or Limited Partner Distribution Period	60 days
Subsequent Event
Subsequent Event [Line Items]
Distributions to be paid to unit holders		$0.60
Distribution to limited partner, declaration date		6-May-15
Distribution made to limited partner, distribution date		29-May-15
Distribution made to limited partner, date of record		15-May-15

Marketable_Securities_and_Rest1

Marketable Securities and Restricted Funds - Schedule of Held-to-Maturity Securities (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current Assets - Other | Money Market Funds
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity, fair value	10	$3
Maximum
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, contractual maturity	1 year

Debt_and_Credit_Facility_Debt_

Debt and Credit Facility - Debt Issuance (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	Mar. 12, 2015
Debt Instrument [Line Items]
Unsecured senior notes issued	$1,000
Senior notes 4.5% due 2045
Debt Instrument [Line Items]
Unsecured senior notes issued	500
Debt instrument, interest rate, stated percentage	4.50%
Debt instrument year of maturity	2045
Senior notes 3.5% due 2025
Debt Instrument [Line Items]
Unsecured senior notes issued	$500
Debt instrument, interest rate, stated percentage	3.50%
Debt instrument year of maturity	2025

Debt_and_Credit_Facility_Addit

Debt and Credit Facility (Additional Information) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Expiration Date	2019
Total Credit Facility Capacity	$2,000
Commercial Paper Outstanding at March 31, 2015	121	907
Available Credit Facility Capacity	$1,879
Debt To EBITDA Ratio	3.8
Maximum
Line of Credit Facility [Line Items]
Debt To EBITDA Ratio	5

Fair_Value_Measurements_Fair_V

Fair Value Measurements - Fair Value Hierarchy Levels, Assets that are Measured at Fair Value on a Recurring Basis (Details) (Fair Value, Measurements, Recurring, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Financial Instruments [Line Items]
Assets, Fair Value Disclosure	$166	$48
Fair Value, Inputs, Level 2
Financial Instruments [Line Items]
Assets, Fair Value Disclosure	166	48
Corporate Debt Securities | Cash and Cash Equivalents
Financial Instruments [Line Items]
Assets, Fair Value Disclosure	153	43
Corporate Debt Securities | Cash and Cash Equivalents | Fair Value, Inputs, Level 2
Financial Instruments [Line Items]
Assets, Fair Value Disclosure	153	43
Interest Rate Swap | Other Assets
Financial Instruments [Line Items]
Assets, Fair Value Disclosure	13	5
Interest Rate Swap | Other Assets | Fair Value, Inputs, Level 2
Financial Instruments [Line Items]
Assets, Fair Value Disclosure	$13	$5

Fair_Value_Measurements_Fair_V1

Fair Value Measurements - Fair Values of Financial Instruments Recorded and Carried at Book Value (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified
Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Note receivable, noncurrent	$71	[1]	$71	[1]
Long-term debt, including current maturities	6,184	[2]	5,184	[2]
Approximate Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Note receivable, noncurrent	71	[1]	71	[1]
Long-term debt, including current maturities	$6,685	[2]	$5,554	[2]
[1]	Included within Investments in and Loans to Unconsolidated Affiliates.
[2]	Excludes unamortized items and fair value hedge carrying value adjustments.

Risk_Management_and_Hedging_Ac1

Risk Management and Hedging Activities (Details) (Interest Rate Swap, USD $)	Mar. 31, 2015
In Millions, unless otherwise specified
Interest Rate Swap
Derivative [Line Items]
Derivative, Notional Amount	$300

Issuances_of_Common_Units_Addi

Issuances of Common Units (Additional Information) (Detail) (USD $)	3 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Issuances of Common Units [Line Items]
Net proceeds from issuance of common units	$40	$53
Limited Partners Common
Issuances of Common Units [Line Items]
Partners units issued (in shares)	800
General Partner
Issuances of Common Units [Line Items]
Partners units issued (in shares)	16
Net proceeds from issuance of common units	$1