Business Segments and Related Information (Tables)

3 Months Ended

Mar. 31, 2022

Business Segments [Abstract]

Measurement of Total Segment Gross Operating Margin

The following table presents our measurement of total segment gross operating margin for the periods presented.  The GAAP financial measure most directly comparable to total segment gross operating margin is operating income.

	For the Three Months Ended March 31,
	2022			2021
Operating income	$	1,666		$	1,695
Adjustments to reconcile operating income to total segment gross operating margin    (addition or subtraction indicated by sign):
Depreciation, amortization and accretion expense in operating costs and expenses (1)		514			495
Asset impairment charges in operating costs and expenses		14			66
Net losses attributable to asset sales and related matters in operating costs    and expenses		2			11
General and administrative costs		62			56
Non-refundable payments received from shippers attributable to make-up rights (2)		34			19
Subsequent recognition of revenues attributable to make-up rights (3)		(28	)		(39	)
Total segment gross operating margin	$	2,264		$	2,303

(1)	Excludes amortization of major maintenance costs for reaction-based plants, which are a component of gross operating margin.
(2)	Since make-up rights entail a future performance obligation by the pipeline to the shipper, these receipts are recorded as deferred revenue for GAAP purposes; however, these receipts are included in gross operating margin in the period of receipt since they are nonrefundable to the shipper.
(3)	As deferred revenues attributable to make-up rights are subsequently recognized as revenue under GAAP, gross operating margin must be adjusted to remove such amounts to prevent duplication since the associated non-refundable payments were previously included in gross operating margin.

Information by Business Segments

Gross operating margin by segment is calculated by subtracting segment operating costs and expenses from segment revenues, with both segment totals reflecting the adjustments noted in the preceding table, as applicable, and before the elimination of intercompany transactions.  The following table presents gross operating margin by segment for the periods indicated:

	For the Three Months Ended March 31,
	2022		2021
Gross operating margin by segment:
NGL Pipelines & Services	$	1,225	$	1,086
Crude Oil Pipelines & Services		415		400
Natural Gas Pipelines & Services		220		535
Petrochemical & Refined Products Services		404		282
Total segment gross operating margin	$	2,264	$	2,303

Summarized Segment Financial Information

Information by business segment, together with reconciliations to amounts presented on, or included in, our Unaudited Condensed Statements of Consolidated Operations, is presented in the following table:

	Reportable Business Segments
	NGL Pipelines & Services		Crude Oil Pipelines & Services		Natural Gas Pipelines & Services		Petrochemical & Refined Products Services		Adjustments and Eliminations			Consolidated Total
Revenues from third parties:
Three months ended March 31, 2022	$	5,752	$	4,063	$	1,144	$	2,033	$	–		$	12,992
Three months ended March 31, 2021		3,581		2,157		1,584		1,819		–			9,141
Revenues from related parties:
Three months ended March 31, 2022		2		9		5		–		–			16
Three months ended March 31, 2021		3		8		3		–		–			14
Intersegment and intrasegment revenues:
Three months ended March 31, 2022		18,315		9,914		203		3,222		(31,654	)		–
Three months ended March 31, 2021		13,089		7,420		146		6,234		(26,889	)		–
Total revenues:
Three months ended March 31, 2022		24,069		13,986		1,352		5,255		(31,654	)		13,008
Three months ended March 31, 2021		16,673		9,585		1,733		8,053		(26,889	)		9,155
Equity in income of unconsolidated affiliates:
Three months ended March 31, 2022		34		81		2		–		–			117
Three months ended March 31, 2021		28		119		1		1		–			149

Information by business segment, together with reconciliations to our Unaudited Condensed Consolidated Balance Sheet totals, is presented in the following table:

	Reportable Business Segments
	NGL Pipelines & Services		Crude Oil Pipelines & Services		Natural Gas Pipelines & Services		Petrochemical & Refined Products Services		Adjustments and Eliminations		Consolidated Total
Property, plant and equipment, net: (see Note 4)
At March 31, 2022	$	17,730	$	6,917	$	9,832	$	7,724	$	1,830	$	44,033
At December 31, 2021		17,202		6,974		8,560		7,736		1,616		42,088
Investments in unconsolidated affiliates: (see Note 5)
At March 31, 2022		654		1,737		32		3		–		2,426
At December 31, 2021		656		1,738		31		3		–		2,428
Intangible assets, net: (see Note 6)
At March 31, 2022		893		1,840		1,245		123		–		4,101
At December 31, 2021		317		1,860		849		125		–		3,151
Goodwill: (see Note 6)
At March 31, 2022		2,811		1,841		–		956		–		5,608
At December 31, 2021		2,652		1,841		–		956		–		5,449
Segment assets:
At March 31, 2022		22,088		12,335		11,109		8,806		1,830		56,168
At December 31, 2021		20,827		12,413		9,440		8,820		1,616		53,116

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,
	2022		2021
Consolidated revenues:
NGL Pipelines & Services	$	5,754	$	3,584
Crude Oil Pipelines & Services		4,072		2,165
Natural Gas Pipelines & Services		1,149		1,587
Petrochemical & Refined Products Services		2,033		1,819
Total consolidated revenues	$	13,008	$	9,155
Consolidated costs and expenses
Operating costs and expenses:
Cost of sales	$	10,098	$	6,263
Other operating costs and expenses (1)		757		715
Depreciation, amortization and accretion		526		498
Asset impairment charges		14		66
Net losses attributable to asset sales and related matters		2		11
General and administrative costs		62		56
Total consolidated costs and expenses	$	11,459	$	7,609

(1) Represents the cost of operating our plants, pipelines and other fixed assets excluding depreciation, amortization and accretion charges; asset impairment charges; and net losses (or gains) attributable to asset sales and related matters.