Segment Disclosures

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Disclosures [Text Block]

Note 13 – Segment Disclosures

Our reportable segments are Transmission & Gulf of Mexico, Northeast G&P, and West. All remaining business activities are included in Other. (See Note 1 – General, Description of Business, and Basis of Presentation.)

Performance Measurement

We evaluate segment operating performance based upon Modified EBITDA. This measure represents the basis of our internal financial reporting and is the primary performance measure used by our chief operating decision maker in measuring performance and allocating resources among our reportable segments. Intersegment revenues primarily represent the sale of NGLs from our natural gas processing plants to our marketing business.

We define Modified EBITDA as follows:

•Net income (loss) before:

◦Provision (benefit) for income taxes;

◦Interest incurred, net of interest capitalized;

◦Equity earnings (losses);

◦Impairment of equity-method investments;

◦Other investing income (loss) – net;

◦Impairment of goodwill;

◦Depreciation and amortization expenses;

◦Accretion expense associated with asset retirement obligations for nonregulated operations.

• This measure is further adjusted to include our proportionate share (based on ownership interest) of Modified EBITDA from our equity-method investments calculated consistently with the definition described above.

The following table reflects the reconciliation of Segment revenues to Total revenues as reported in the Consolidated Statement of Operations and Total assets by reportable segment.

	Transmission & Gulf of Mexico		Northeast G&P		West		Other		Eliminations			Total
			(Millions)
Three Months Ended March 31, 2020
Segment revenues:
Service revenues
External	$	814	$	344	$	311	$	5	$	—		$	1,474
Internal	15		14		—		3		(32		)	—
Total service revenues	829		358		311		8		(32		)	1,474
Total service revenues – commodity consideration	5		2		21		—		—			28
Product sales
External	41		23		347		—		—			411
Internal	11		6		12		—		(29		)	—
Total product sales	52		29		359		—		(29		)	411
Total revenues	$	886	$	389	$	691	$	8	$	(61	)	$	1,913
Three Months Ended March 31, 2019
Segment revenues:
Service revenues
External	$	811	$	266	$	359	$	4	$	—		$	1,440
Internal	12		10		—		3		(25		)	—
Total service revenues	823		276		359		7		(25		)	1,440
Total service revenues – commodity consideration	13		5		46		—		—			64
Product sales
External	52		36		462		—		—			550
Internal	30		11		17		—		(58		)	—
Total product sales	82		47		479		—		(58		)	550
Total revenues	$	918	$	328	$	884	$	7	$	(83	)	$	2,054
March 31, 2020
Total assets	$	18,656	$	14,702	$	10,619	$	1,309	$	(657	)	$	44,629
December 31, 2019
Total assets	$	18,796	$	15,399	$	11,265	$	1,151	$	(571	)	$	46,040

The following table reflects the reconciliation of Modified EBITDA to Net income (loss) as reported in the Consolidated Statement of Operations.

	Three Months Ended  March 31,
	2020			2019
	(Millions)
Modified EBITDA by segment:
Transmission & Gulf of Mexico	$	662		$	636
Northeast G&P	369			299
West	215			256
Other	7			(4		)
	1,253			1,187
Accretion expense associated with asset retirement obligations for nonregulated operations	(10		)	(9		)
Depreciation and amortization expenses	(429		)	(416		)
Impairment of goodwill	(187		)	—
Equity earnings (losses)	22			80
Impairment of equity-method investments	(938		)	(74		)
Other investing income (loss) – net	3			1
Proportional Modified EBITDA of equity-method investments	(192		)	(190		)
Interest expense	(296		)	(296		)
(Provision) benefit for income taxes	204			(69		)
Net income (loss)	$	(570	)	$	214