Investments in Unconsolidated Entities (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Investments in and summarized financial information for entities accounted for under the equity method of accounting

Our investments in unconsolidated entities consisted of the following (in millions, except percentage data):

		Ownership Interest at December 31, 2021	Investment Balance December 31,
Entity (1)	Type of Operation		2021		2020
BridgeTex Pipeline Company, LLC (“BridgeTex”)	Crude Oil Pipeline	20%	$	406	$	421
Cactus II Pipeline LLC (“Cactus II”)	Crude Oil Pipeline	65%	737		752
Capline Pipeline Company LLC	Crude Oil Pipeline (2)	54%	531		514
Diamond Pipeline LLC (“Diamond”)	Crude Oil Pipeline	50%	464		480
Eagle Ford Pipeline LLC (“Eagle Ford Pipeline”)	Crude Oil Pipeline	50%	363		372
Eagle Ford Terminals Corpus Christi LLC (“Eagle Ford Terminals”)	Crude Oil Terminal and Dock	50%	120		122
OMOG JV LLC (3)	Crude Oil Pipeline	40%	102		—
Saddlehorn	Crude Oil Pipeline	30%	209		208
White Cliffs Pipeline, LLC	Crude Oil Pipeline	36%	171		192
Wink to Webster Pipeline LLC (“W2W Pipeline”) (4)	Crude Oil Pipeline (5)	16%	345		330
Other investments			357		373
Total Investments in Unconsolidated Entities			$	3,805	$	3,764

(1)The financial results from these entities are reported in our Crude Oil segment.

(2)The Capline pipeline was out of service during 2020 and a majority of 2021 pending the reversal of the pipeline system. The pipeline reversal project was completed with interim service beginning in mid-December 2021 and full service beginning in January 2022.

(3)Our ownership in this entity was acquired as part of the assets contributed by Oryx Midstream in the formation of the Permian JV in October 2021. See Note 7 for additional information.

(4)Although we own less than 20% of W2W Pipeline, we use the equity method to account for the investment because we believe we have significant influence over the financial and operating decisions of the company.

(5)The pipeline system was in partial service during 2021 and another phase of the pipeline construction project was completed in the first quarter of 2022.

Combined summarized financial information for all of our unconsolidated entities is shown in the tables below (in millions). None of our unconsolidated entities have noncontrolling interests.

	December 31,
	2021		2020
Current assets	$	509	$	580
Noncurrent assets	$	8,879	$	8,769
Current liabilities	$	366	$	343
Noncurrent liabilities	$	15	$	10

	Year Ended December 31,
	2021		2020		2019
Revenues	$	1,320	$	1,360	$	1,469
Operating income	$	505	$	828	$	994
Net income	$	506	$	826	$	995