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SEGMENTS (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segments
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.