Inventories (Tables)

9 Months Ended

Sep. 30, 2019

Inventories [Abstract]

Inventory Amounts by Product Type

Our inventory amounts by product type were as follows at the dates indicated:

	September 30, 2019		December 31, 2018
NGLs	$	928.2	$	647.7
Petrochemicals and refined products		183.2		264.7
Crude oil		520.1		593.4
Natural gas		13.2		16.3
Total	$	1,644.7	$	1,522.1

Cost of Sales and Lower of Cost or Market Adjustments

Due to fluctuating commodity prices, we recognize lower of cost or net realizable value adjustments when the carrying value of our available-for-sale inventories exceeds their net realizable value.  The following table presents our total cost of sales amounts and lower of cost or net realizable value adjustments for the periods indicated:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2019			2018			2019			2018
Cost of sales (1)		$	5,276.5		$	6,838.9		$	16,721.5		$	20,371.2
Lower of cost or net realizable value adjustments    recognized within cost of sales			6.8			1.7			17.1			4.3

(1) Cost of sales is a component of “Operating costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations.  Fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities.