Business Segments (Tables)

3 Months Ended

Mar. 31, 2014

Business Segments [Abstract]

Measurement of Total Segment Gross Operating Margin

The following table presents our measurement of non-GAAP total segment gross operating margin for the periods indicated:

	For the Three Months Ended March 31,
	2014			2013
Revenues	$	12,909.9		$	11,383.1
Subtract operating costs and expenses		(11,880.5	)		(10,420.4	)
Add equity in income of unconsolidated affiliates		56.5			44.5
Add depreciation, amortization and accretion expense amounts not reflected in    gross operating margin		301.4			276.8
Add impairment charges not reflected in gross operating margin		8.8			11.0
Subtract net gains attributable to asset sales and insurance recoveries    not reflected in gross operating margin		(89.6	)		(63.9	)
Add non-refundable deferred revenues attributable to shipper make-up rights on new    pipeline projects reflected in gross operating margin		23.3			--
Total segment gross operating margin	$	1,329.8		$	1,231.1

Reconciliation of Total Segment Gross Operating Margin to Operating Income and Income Before Provision for Income Taxes

The following table presents a reconciliation of total segment gross operating margin to operating income and further to income before income taxes for the periods indicated:

	For the Three Months Ended March 31,
	2014			2013
Total segment gross operating margin	$	1,329.8		$	1,231.1
Adjustments to reconcile total segment gross operating margin to operating income:
Subtract depreciation, amortization and accretion expense amounts not reflected in gross operating margin		(301.4	)		(276.8	)
Subtract impairment charges not reflected in gross operating margin		(8.8	)		(11.0	)
Add net gains attributable to asset sales and insurance recoveries not reflected in gross operating margin (see Note 16)		89.6			63.9
Subtract non-refundable deferred revenues attributable to shipper          make-up rights on new pipeline projects reflected in gross operating margin		(23.3	)		--
Subtract general and administrative costs not reflected in          gross operating margin		(53.2	)		(49.5	)
Operating income		1,032.7			957.7
Other expense, net		(221.2	)		(196.0	)
Income before income taxes	$	811.5		$	761.7

Information by Business Segments

Information by business segment, together with reconciliations to our consolidated financial statement totals, is presented in the following table:

	Reportable Business Segments
	NGL Pipelines & Services		Onshore Natural Gas Pipelines & Services		Onshore Crude Oil Pipelines & Services		Offshore Pipelines & Services		Petrochemical & Refined Products Services			Adjustments and Eliminations			Consolidated Total
Revenues from third parties:
Three months ended March 31, 2014	$	5,173.7	$	1,200.0	$	4,935.4	$	34.7	$	1,530.6		$	--		$	12,874.4
Three months ended March 31, 2013		3,950.7		874.2		4,793.2		40.5		1,718.6			--			11,377.2
Revenues from related parties:
Three months ended March 31, 2014		5.8		4.6		22.9		2.2		--			--			35.5
Three months ended March 31, 2013		0.3		3.5		--		2.1		--			--			5.9
Intersegment and intrasegment    revenues:
Three months ended March 31, 2014		3,861.0		309.4		2,550.7		2.3		437.0			(7,160.4	)		--
Three months ended March 31, 2013		2,709.0		256.2		2,024.7		2.0		422.1			(5,414.0	)		--
Total revenues:
Three months ended March 31, 2014		9,040.5		1,514.0		7,509.0		39.2		1,967.6			(7,160.4	)		12,909.9
Three months ended March 31, 2013		6,660.0		1,133.9		6,817.9		44.6		2,140.7			(5,414.0	)		11,383.1
Equity in income (loss) of    unconsolidated affiliates:
Three months ended March 31, 2014		1.4		0.9		42.7		11.1		0.4			--			56.5
Three months ended March 31, 2013		3.9		1.0		36.6		6.4		(3.4	)		--			44.5
Gross operating margin:
Three months ended March 31, 2014		780.0		220.4		159.7		39.3		130.4			--			1,329.8
Three months ended March 31, 2013		592.5		190.8		236.4		40.5		170.9			--			1,231.1
Property, plant and equipment, net: (see Note 6)
At March 31, 2014		11,689.7		8,871.8		1,473.4		1,202.3		2,606.2			1,419.1			27,262.5
At December 31, 2013		9,957.8		8,917.3		1,479.9		1,223.7		2,712.4			2,655.5			26,946.6
Investments in unconsolidated    affiliates: (see Note 7)
At March 31, 2014		673.1		23.7		1,403.2		528.4		78.0			--			2,706.4
At December 31, 2013		645.5		24.2		1,165.2		531.8		70.4			--			2,437.1
Intangible assets, net: (see Note 8)
At March 31, 2014		276.6		1,006.2		4.2		49.0		98.4			--			1,434.4
At December 31, 2013		285.2		1,017.8		4.5		54.7		100.0			--			1,462.2
Goodwill: (see Note 8)
At March 31, 2014		861.2		296.3		305.1		82.0		535.3			--			2,079.9
At December 31, 2013		341.2		296.3		305.1		82.1		1,055.3			--			2,080.0
Segment assets:
At March 31, 2014		13,500.6		10,198.0		3,185.9		1,861.7		3,317.9			1,419.1			33,483.2
At December 31, 2013		11,229.7		10,255.6		2,954.7		1,892.3		3,938.1			2,655.5			32,925.9

Consolidated Revenues and Expenses

The following table presents additional information regarding our consolidated revenues and costs and expenses for the periods indicated:

	For the Three Months Ended March 31,
	2014			2013
NGL Pipelines & Services:
Sales of NGLs and related products	$	4,795.8		$	3,665.6
Midstream services		383.7			285.4
Total		5,179.5			3,951.0
Onshore Natural Gas Pipelines & Services:
Sales of natural gas		953.2			639.5
Midstream services		251.4			238.2
Total		1,204.6			877.7
Onshore Crude Oil Pipelines & Services:
Sales of crude oil		4,873.4			4,742.8
Midstream services		84.9			50.4
Total		4,958.3			4,793.2
Offshore Pipelines & Services:
Sales of natural gas		0.2			0.1
Sales of crude oil		2.1			2.3
Midstream services		34.6			40.2
Total		36.9			42.6
Petrochemical & Refined Products Services:
Sales of petrochemicals and refined products		1,356.2			1,547.2
Midstream services		174.4			171.4
Total		1,530.6			1,718.6
Total consolidated revenues	$	12,909.9		$	11,383.1
Consolidated costs and expenses
Operating costs and expenses:
Cost of sales	$	11,052.7		$	9,692.5
Other operating costs and expenses (1)		607.2			504.0
Depreciation, amortization and accretion		301.4			276.8
Net gains attributable to asset sales and insurance recoveries		(89.6	)		(63.9	)
Non-cash asset impairment charges		8.8			11.0
General and administrative costs		53.2			49.5
Total consolidated costs and expenses	$	11,933.7		$	10,469.9
(1)   Represents cost of operating our plants, pipelines and other fixed assets, excluding depreciation, amortization and accretion charges.