SEGMENTS | P . SEGMENTS Segment Descriptions - Our operations are divided into three reportable business segments, as follows: • our Natural Gas Gathering and Processing segment gathers, treats and processes natural gas; • our Natural Gas Liquids segment gathers, treats, fractionates and transports NGLs and stores, markets and distributes NGL products; and • our Natural Gas Pipelines segment operates regulated interstate and intrastate natural gas transmission pipelines and natural gas storage facilities. Accounting Policies - We evaluate performance based principally on each segment’s operating income and equity in net earnings. The accounting policies of the segments are described in Note A . As a result of ONEOK’s separation of its natural gas distribution business into a stand-alone publicly traded company called ONE Gas on January 31, 2014, transactions with ONE Gas subsequent to the separation are reflected as sales to unaffiliated customers. Customers - The primary customers for our Natural Gas Gathering and Processing segment are major and independent crude oil and natural gas production companies. Our Natural Gas Liquids segment’s customers are primarily NGL and natural gas gathering and processing companies, major and independent crude oil and natural gas production companies, propane distributors, ethanol producers and petrochemical, refining and NGL marketing companies. Our Natural Gas Pipelines segment’s customers include natural gas distribution, electric-generation, natural gas marketing, industrial and major and independent crude oil and natural gas production companies. For the years ended December 31, 2015, 2014 and 2013 , we had no single customer from which we received 10 percent or more of our consolidated revenues. See Note N for additional information about our sales to affiliated customers. Operating Segment Information - The following tables set forth certain selected financial information for our operating segments for the periods indicated: Year Ended December 31, 2015 Natural Gas Gathering and Processing Natural Gas Liquids (a) Natural Gas Pipelines (b) Other and Eliminations Total ( Thousands of dollars ) Sales to unaffiliated customers $ 1,187,390 $ 6,248,002 $ 325,676 $ — $ 7,761,068 Intersegment revenues 649,726 331,697 6,771 (988,194 ) — Total revenues 1,837,116 6,579,699 332,447 (988,194 ) 7,761,068 Cost of sales and fuel (exclusive of items shown separately below) 1,265,617 5,328,256 34,481 (987,302 ) 5,641,052 Operating costs 272,418 314,505 105,720 (467 ) 692,176 Depreciation and amortization 150,008 158,709 43,479 — 352,196 Impairment of long-lived assets 73,681 9,992 — — 83,673 Gain (loss) on sale of assets 2,775 (939 ) 4,272 — 6,108 Operating income $ 78,167 $ 767,298 $ 153,039 $ (425 ) $ 998,079 Equity in net earnings from investments $ 17,863 $ 38,696 $ 68,741 $ — $ 125,300 Impairment of equity investments $ (180,583 ) $ — $ — $ — $ (180,583 ) Investments in unconsolidated affiliates $ 73,920 $ 482,672 $ 391,629 $ — $ 948,221 Total assets $ 5,123,450 $ 8,017,799 $ 1,844,401 $ (58,064 ) $ 14,927,586 Noncontrolling interests in consolidated subsidiaries $ 4,041 $ 160,084 $ — $ — $ 164,125 Capital expenditures $ 887,938 $ 226,135 $ 58,215 $ 13,835 $ 1,186,123 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $954.8 million , of which $770.1 million related to sales within the segment, cost of sales and fuel of $412.6 million and operating income of $306.9 million . (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $266.9 million , cost of sales and fuel of $31.1 million and operating income of $103.7 million . Year Ended December 31, 2014 Natural Gas Gathering and Processing Natural Gas Liquids (a) Natural Gas Pipelines (b) Other and Eliminations Total ( Thousands of dollars ) Sales to unaffiliated customers $ 1,478,729 $ 10,329,609 $ 329,801 $ — $ 12,138,139 Sales to affiliated customers 41,214 — 12,312 — 53,526 Intersegment revenues 1,447,665 215,772 8,343 (1,671,780 ) — Total revenues 2,967,608 10,545,381 350,456 (1,671,780 ) 12,191,665 Cost of sales and fuel (exclusive of items shown separately below) 2,305,723 9,435,296 21,935 (1,674,406 ) 10,088,548 Operating costs 257,658 296,402 111,037 4,560 669,657 Depreciation and amortization 123,847 124,071 43,318 — 291,236 Gain (loss) on sale of assets 219 (572 ) 6,786 166 6,599 Operating income $ 280,599 $ 689,040 $ 180,952 $ (1,768 ) $ 1,148,823 Equity in net earnings from investments $ 20,271 $ 27,326 $ 69,818 $ — $ 117,415 Impairment of equity investments $ (76,412 ) $ — $ — $ — $ (76,412 ) Investments in unconsolidated affiliates $ 254,818 $ 490,582 $ 387,253 $ — $ 1,132,653 Total assets $ 4,911,283 $ 8,143,575 $ 1,823,713 $ (278,171 ) $ 14,600,400 Noncontrolling interests in consolidated subsidiaries $ 4,251 $ 163,671 $ — $ 15 $ 167,937 Capital expenditures $ 898,896 $ 798,048 $ 42,991 $ 6,055 $ 1,745,990 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $695.9 million , of which $598.1 million related to sales within the segment, cost of sales and fuel of $309.4 million and operating income of $196.1 million . (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $290.0 million , cost of sales and fuel of $47.7 million and operating income of $106.5 million . Year Ended December 31, 2013 Natural Gas Gathering and Processing Natural Gas Liquids (a) Natural Gas Pipelines (b) Other and Eliminations Total ( Thousands of dollars ) Sales to unaffiliated customers $ 665,169 $ 10,644,117 $ 219,244 $ — $ 11,528,530 Sales to affiliated customers 238,600 — 102,143 — 340,743 Intersegment revenues 1,147,713 133,910 4,127 (1,285,750 ) — Total revenues 2,051,482 10,778,027 325,514 (1,285,750 ) 11,869,273 Cost of sales and fuel (exclusive of items shown separately below) 1,550,855 9,908,089 39,795 (1,276,526 ) 10,222,213 Operating costs 193,293 236,638 101,182 (9,600 ) 521,513 Depreciation and amortization 103,962 89,240 43,541 — 236,743 Loss on sale of assets 436 843 10,602 — 11,881 Operating income $ 203,808 $ 544,903 $ 151,598 $ 376 $ 900,685 Equity in net earnings from investments $ 23,493 $ 21,978 $ 65,046 $ — $ 110,517 Investments in unconsolidated affiliates $ 333,179 $ 491,856 $ 404,803 $ — $ 1,229,838 Total assets $ 3,949,813 $ 6,938,633 $ 1,817,445 $ 118,269 $ 12,824,160 Noncontrolling interests in consolidated subsidiaries $ 4,521 $ — $ — $ 15 $ 4,536 Capital expenditures $ 774,379 $ 1,128,345 $ 34,699 $ 1,903 $ 1,939,326 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $534.8 million , of which $449.9 million related to sales within the segment, cost of sales and fuel of $207.4 million and operating income of $190.5 million . (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $246.9 million , cost of sales and fuel of $29.3 million and operating income of $90.5 million . |