Investing Activities (Tables)

12 Months Ended

Dec. 31, 2015

Investments [Abstract]

Investments [Table Text Block]

	December 31,
	2015		2014
	(Millions)
Equity-method investments:
Appalachia Midstream Investments (1)	$	2,464	$	3,033
UEOM — 62% (2)	1,525		1,411
Delaware basin gas gathering system — 50%	977		1,478
Discovery — 60%	602		602
OPPL – 50%	445		453
Caiman II — 58%	418		432
Laurel Mountain — 69%	391		459
Gulfstream — 50%	293		317
Other	221		215
	$	7,336	$	8,400

___________

(1) Includes equity-method investments in multiple gathering systems in the Marcellus Shale with an approximate average 45 percent interest.

(2) WPZ acquired an approximate 13 percent additional interest in UEOM in 2015. (See Note 2 – Acquisitions).

Contributions [Table Text Block]

Purchases of and contributions to equity-method investments in the Consolidated Statement of Cash Flows

We generally fund our portion of significant expansion or development projects of these investees through additional capital contributions. These transactions increased the carrying value of our investments and included:

	Years Ended December 31,
	2015		2014		2013
	(Millions)
UEOM (1)	$	357	$	57	$	—
Appalachia Midstream Investments	93		84		—
Delaware basin gas gathering system	57		20		—
Discovery	35		106		193
Caiman II	—		175		192
Other	53		40		70
	$	595	$	482	$	455

___________

(1) 2015 includes additional interest in UEOM acquired by WPZ. (See Note 2 – Acquisitions.)

Dividends and distributions [Table Text Block]

Dividends and distributions

The organizational documents of entities in which we have an equity-method interest generally require distribution of available cash to members on at least a quarterly basis. These transactions reduced the carrying value of our investments and included:

	Years Ended December 31,
	2015		2014		2013
	(Millions)
Appalachia Midstream Investments	$	219	$	130	$	—
Discovery	116		36		12
Gulfstream	88		81		81
OPPL	45		27		27
UEOM	42		—		—
Caiman II	33		13		—
Delaware basin gas gathering system	33		—		—
Laurel Mountain	31		39		—
Access Midstream Investments	—		64		93
Other	26		50		34
	$	633	$	440	$	247

Summarized Financial Position and Results of Operations of Equity Method Investments [Table Text Block]

Summarized Financial Position and Results of Operations of All Equity-Method Investments

	December 31,
	2015			2014
	(Millions)
Assets (liabilities):
Current assets	$	773		$	599
Noncurrent assets	9,549			9,135
Current liabilities	(633		)	(850		)
Noncurrent liabilities	(1,450		)	(954		)

	Years Ended December 31,
	2015		2014		2013
	(Millions)
Gross revenue	$	1,707	$	1,623	$	2,406
Operating income	690		534		699
Net income	611		460		627