Operating Segment Information - The following tables set forth certain selected financial information for our operating segments for the periods indicated:



Year Ended December 31, 2017	Natural Gas Gathering and Processing			Natural Gas Liquids (a)			Natural Gas Pipelines (b)			Total Segments
	(Thousands of dollars)
Sales to unaffiliated customers	$	1,750,655		$	10,009,576		$	411,490		$	12,171,721
Intersegment revenues	1,275,919			616,628			8,442			1,900,989
Total revenues	3,026,574			10,626,204			419,932			14,072,710
Cost of sales and fuel (exclusive of depreciation and items shown separately below)	(2,216,355		)	(9,176,494		)	(43,424		)	(11,436,273		)
Operating costs	(309,536		)	(359,753		)	(126,241		)	(795,530		)
Equity in net earnings from investments	12,098			59,876			87,304			159,278
Other	5,691			5,106			2,247			13,044
Segment adjusted EBITDA	$	518,472		$	1,154,939		$	339,818		$	2,013,229

Depreciation and amortization	$	(184,923	)	$	(167,277	)	$	(51,025	)	$	(403,225	)
Impairment of long-lived assets and equity investments	$	(20,240	)	$	—		$	—		$	(20,240	)
Total assets	$	5,495,163		$	8,782,700		$	2,055,020		$	16,332,883
Capital expenditures	$	284,205		$	114,267		$	95,564		$	494,036

(a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.2 billion, of which $1.0 billion related to sales within the segment and cost of sales and fuel of $497.4 million.

(b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $264.9 million and cost of sales and fuel of $44.0 million.



Year Ended December 31, 2017	Total Segments			Other and Eliminations			Total
	(Thousands of dollars)
Reconciliations of total segments to consolidated
Sales to unaffiliated customers	$	12,171,721		$	2,186		$	12,173,907
Intersegment revenues	1,900,989			(1,900,989		)	—
Total revenues	$	14,072,710		$	(1,898,803	)	$	12,173,907

Cost of sales and fuel (exclusive of depreciation and operating costs)	$	(11,436,273	)	$	1,898,228		$	(9,538,045	)
Operating costs	$	(795,530	)	$	(38,056	)	$	(833,586	)
Depreciation and amortization	$	(403,225	)	$	(3,110	)	$	(406,335	)
Impairment of long-lived assets and equity investments	$	(20,240	)	$	—		$	(20,240	)
Equity in net earnings from investments	$	159,278		$	—		$	159,278
Total assets	$	16,332,883		$	513,054		$	16,845,937
Capital expenditures	$	494,036		$	18,357		$	512,393



Year Ended December 31, 2016	Natural Gas Gathering and Processing			Natural Gas Liquids (a)			Natural Gas Pipelines (b)			Total Segments
	(Thousands of dollars)
Sales to unaffiliated customers	$	1,375,738		$	7,168,983		$	373,738		$	8,918,459
Intersegment revenues	675,839			506,671			5,623			1,188,133
Total revenues	2,051,577			7,675,654			379,361			10,106,592
Cost of sales and fuel (exclusive of depreciation and items shown separately below)	(1,331,542		)	(6,321,377		)	(30,561		)	(7,683,480		)
Operating costs	(285,599		)	(327,597		)	(115,628		)	(728,824		)
Equity in net earnings from investments	10,742			54,513			74,435			139,690
Other	1,600			(1,574		)	5,530			5,556
Segment adjusted EBITDA	$	446,778		$	1,079,619		$	313,137		$	1,839,534

Depreciation and amortization	$	(178,548	)	$	(163,303	)	$	(46,718	)	$	(388,569	)
Total assets	$	5,320,666		$	8,347,961		$	1,946,318		$	15,614,945
Capital expenditures	$	410,485		$	105,861		$	96,274		$	612,620

(a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.2 billion, of which $992.8 million related to sales within the segment and cost of sales and fuel of $458.7 million.

(b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $238.7 million and cost of sales and fuel of $30.0 million.



Year Ended December 31, 2016	Total Segments			Other and Eliminations			Total
	(Thousands of dollars)
Reconciliations of total segments to consolidated
Sales to unaffiliated customers	$	8,918,459		$	2,475		$	8,920,934
Intersegment revenues	1,188,133			(1,188,133		)	—
Total revenues	$	10,106,592		$	(1,185,658	)	$	8,920,934

Cost of sales and fuel (exclusive of depreciation and operating costs)	$	(7,683,480	)	$	1,187,356		$	(6,496,124	)
Operating costs	$	(728,824	)	$	(28,360	)	$	(757,184	)
Depreciation and amortization	$	(388,569	)	$	(3,016	)	$	(391,585	)
Equity in net earnings from investments	$	139,690		$	—		$	139,690
Total assets	$	15,614,945		$	523,806		$	16,138,751
Capital expenditures	$	612,620		$	12,014		$	624,634



Year Ended December 31, 2015	Natural Gas Gathering and Processing			Natural Gas Liquids (a)			Natural Gas Pipelines (b)			Total Segments
	(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			8,749,262
Cost of sales and fuel (exclusive of depreciation and items shown separately below)	(1,265,617		)	(5,328,256		)	(34,481		)	(6,628,354		)
Operating costs	(272,418		)	(314,505		)	(105,720		)	(692,643		)
Equity in net earnings from investments	17,863			38,696			68,741			125,300
Other	1,610			(3,342		)	13,993			12,261
Segment adjusted EBITDA	$	318,554		$	972,292		$	274,980		$	1,565,826

Depreciation and amortization	$	(150,008	)	$	(158,709	)	$	(43,479	)	$	(352,196	)
Impairment of long-lived assets	$	(73,681	)	$	(9,992	)	$	—		$	(83,673	)
Impairment of equity investments	$	(180,583	)	$	—		$	—		$	(180,583	)
Total assets	$	5,123,450		$	8,017,799		$	1,851,857		$	14,993,106
Capital expenditures	$	887,938		$	226,135		$	58,215		$	1,172,288

(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 and cost of sales and fuel of $412.6 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 and cost of sales and fuel of $31.1 million.



Year Ended December 31, 2015	Total Segments			Other and Eliminations			Total
	(Thousands of dollars)
Reconciliations of total segments to consolidated
Sales to unaffiliated customers	$	7,761,068		$	2,138		$	7,763,206
Intersegment revenues	988,194			(988,194		)	—
Total revenues	$	8,749,262		$	(986,056	)	$	7,763,206

Cost of sales and fuel (exclusive of depreciation and operating costs)	$	(6,628,354	)	$	987,302		$	(5,641,052	)
Operating costs	$	(692,643	)	$	(688	)	$	(693,331	)
Depreciation and amortization	$	(352,196	)	$	(2,424	)	$	(354,620	)
Impairment of long-lived assets	$	(83,673	)	$	—		$	(83,673	)
Impairment of equity investments	$	(180,583	)	$	—		$	(180,583	)
Equity in net earnings from investments	$	125,300		$	—		$	125,300
Total assets	$	14,993,106		$	453,005		$	15,446,111
Capital expenditures	$	1,172,288		$	16,024		$	1,188,312



	Years Ended December 31,
(Unaudited)	2017		2016			2015
Reconciliation of income from continuing operations to total segment adjusted EBITDA	(Thousands of dollars)
Income from continuing operations	$	593,519	$	745,550		$	385,276
Add:
Interest expense, net of capitalized interest	485,658		469,651			416,787
Depreciation and amortization	406,335		391,585			354,620
Income taxes	447,282		212,406			136,600
Impairment charges	20,240		—			264,256
Noncash compensation expense	13,421		31,981			13,799
Other corporate costs and noncash items (a)	46,774		(11,639		)	(5,512		)
Total segment adjusted EBITDA	$	2,013,229	$	1,839,534		$	1,565,826

(a) - The year ended December 31, 2017, includes our April 2017 $20.0 million contribution of Series E Preferred Stock to the Foundation and costs related to the Merger Transaction of $30.0 million.