Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

During the three years ended December 31, 2020, we recognized sales and transportation revenues, purchased petroleum products and utilized transportation and storage services from our principal owners and their affiliated entities and our equity method investees. These transactions were conducted at posted tariff rates or prices that we believe approximate market. Included in these transactions was a crude oil buy/sell agreement that includes a multi-year minimum volume commitment.

The impact to our Consolidated Statements of Operations from these transactions is included below (in millions):


	Year Ended December 31,
	2020		2019		2018



Revenues from related parties (1)	$	46	$	692	$	1,067




Purchases and related costs from related parties (1)	$	451	$	223	$	410

(1)Crude oil purchases that are part of inventory exchanges under buy/sell transactions are netted with the related sales, with any margin presented in “Purchases and related costs” in our Consolidated Statements of Operations.

Our receivable and payable amounts with these related parties as reflected on our Consolidated Balance Sheets were as follows (in millions):


	December 31,
	2020		2019



Trade accounts receivable and other receivables, net from related parties (1)	$	34	$	134




Trade accounts payable to related parties (1) (2)	$	88	$	102

(1)Includes amounts related to crude oil purchases and sales, transportation and storage services and amounts owed to us or advanced to us related to investment capital projects of equity method investees where we serve as construction manager.

(2)We have agreements to store at facilities and transport crude oil on pipelines that are owned by equity method investees, in which we own a 50% interest. A portion of our commitment to transport is supported by crude oil buy/sell or other agreements with third parties with commensurate quantities.