Non-Wholly Owned Entities (Tables)

9 Months Ended

Sep. 30, 2015

Equity Method Investments and Joint Ventures [Abstract]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net

The SouthStar amounts exclude intercompany eliminations and the balances of our wholly-owned subsidiary with an 85% ownership interest in SouthStar.



	September 30, 2015						December 31, 2014						September 30, 2014
In millions	Consolidated		SouthStar		%		Consolidated		SouthStar		%		Consolidated		SouthStar		%
Current assets	$	1,776	$	202	11	%	$	2,886	$	236	8	%	$	2,089	$	188	9	%
Goodwill and other intangible assets	1,926		116		6		1,952		125		6		1,957		127		6
Long-term assets and other deferred debits	10,504		16		—		10,050		17		—		9,886		17		—
Total assets	$	14,206	$	334	2	%	$	14,888	$	378	3	%	$	13,932	$	332	2	%
Current liabilities	$	2,802	$	45	2	%	$	3,219	$	71	2	%	$	2,462	$	47	2	%
Long-term liabilities and other deferred credits	7,494		1		—		7,841		—		—		7,668		—		—
Total Liabilities	10,296		46		—		11,060		71		1		10,130		47		—
Equity	3,910		288		7		3,828		307		8		3,802		285		7
Total liabilities and equity	$	14,206	$	334	2	%	$	14,888	$	378	3	%	$	13,932	$	332	2	%

Schedule of Variable Interest Entities

The following table provides information on SouthStar’s operating revenues and operating expenses for the periods presented, which are consolidated within our unaudited Condensed Consolidated Statements of Income.



	Three Months Ended September 30,				Nine Months Ended September 30,
In millions	2015		2014		2015		2014
Operating revenues	$	103	$	113	$	536	$	633
Operating expenses
Cost of goods sold	78		89		370		470
Operation and maintenance	18		19		59		62
Depreciation and amortization	2		3		7		8
Taxes other than income taxes	—		—		1		1
Total operating expenses	98		111		437		541
Operating income	$	5	$	2	$	99	$	92

Equity Method Investments

The carrying amounts within our unaudited Condensed Consolidated Statements of Financial Position of our investments that are accounted for under the equity method were as follows:



	September 30,		December 31,		September 30,
In millions	2015		2014		2014
Triton	$	51	$	62	$	64
Horizon Pipeline	14		14		14
PennEast Pipeline	6		1		—
Atlantic Coast Pipeline	5		2		—
Other	1		1		2
Total	$	77	$	80	$	80

Schedule of Other Nonoperating Income, by Component

Income from our equity method investments is classified as other income on our unaudited Condensed Consolidated Statements of Income. The following table provides the income from our equity method investments for the periods presented.



	Three Months Ended September 30,				Nine Months Ended September 30,
In millions	2015		2014		2015		2014
Triton	$	2	$	2	$	3	$	5
Horizon Pipeline	—		—		1		1

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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