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Investments in Unconsolidated Affiliates
 9 Months Ended
Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Affiliates Investments in Unconsolidated Affiliates
Net Investments and Earnings (Loss) of Unconsolidated Affiliates

Our net investments in and earnings (loss) from our unconsolidated affiliates are as follows (in millions):
InvestmentEarnings (Loss) from
Unconsolidated Affiliates		Earnings (Loss) from
Unconsolidated Affiliates
Three Months EndedNine Months Ended
September 30,December 31,September 30,September 30,
202220212022202120222021
Crestwood Permian Basin Holdings LLC(1)
$— $116.1 $1.3 $4.2 $8.7 $4.4 
Crestwood Permian Basin LLC(2)
77.1 — 0.7 — 0.7 — 
Tres Palacios Holdings LLC(3)
41.2 36.2 1.3 (0.1)3.2 9.1 
Powder River Basin Industrial Complex, LLC(4)
3.1 3.5 (0.1)(0.1)(0.4)— 
Stagecoach Gas Services LLC(5)
— — — 0.9 — (139.4)
Total$121.4 $155.8 $3.2 $4.9 $12.2 $(125.9)

(1)On July 11, 2022, we acquired the remaining 50% equity interest in Crestwood Permian and as a result, we control and own 100% of the equity interests in Crestwood Permian. As a result of this transaction, we eliminated our historical equity investment in Crestwood Permian of approximately $194.7 million as of July 11, 2022 and began consolidating Crestwood Permian’s operations. Our Crestwood Permian investment was previously included in our gathering and processing south segment. See Note 3 for a further discussion of this acquisition.
(2)As described above, on July 11, 2022, we acquired the remaining 50% equity interest in Crestwood Permian, which owns a 50% equity interest in Crestwood Permian Basin LLC (Crestwood Permian Basin). Shell Midstream Partners L.P., a subsidiary of Royal Dutch Shell plc, owns the remaining 50% equity interest in Crestwood Permian Basin. Crestwood Permian Basin owns the Nautilus natural gas gathering system and related assets, which are further described in our 2021 Annual Report on Form 10-K. As of September 30, 2022, our equity in the underlying net assets of Crestwood Permian Basin was less than our carrying value of our investment balance by approximately $2.3 million. During the three and nine months ended September 30, 2022, we recorded amortization of less than $0.1 million related to this basis difference, which is reflected as a decrease in our earnings from unconsolidated affiliates in our consolidated statements of operations. Our Crestwood Permian Basin investment is included in our gathering and processing south segment.
(3)As of September 30, 2022, our equity in the underlying net assets of Tres Palacios Holdings LLC (Tres Holdings) exceeded the carrying value of our investment balance by approximately $20.6 million. During both the three and nine months ended September 30, 2022 and 2021, we recorded amortization of approximately $0.3 million and $0.9 million, respectively, related to this excess basis, which is reflected as an increase in our earnings from unconsolidated affiliates in our consolidated statements of operations. Our Tres Holdings investment is included in our storage and logistics segment.
(4)As of September 30, 2022, our equity in the underlying net assets of Powder River Basin Industrial Complex, LLC (PRBIC) approximates the carrying value of our investment balance. Our PRBIC investment is included in our storage and logistics segment.
(5)In 2021, we and Con Edison Gas Pipeline and Storage Northeast, LLC each sold our 50% equity interest in our Stagecoach Gas Services LLC (Stagecoach Gas) equity investment to a subsidiary of Kinder Morgan, Inc. During the nine months ended September 30, 2021, we recorded a $155.4 million reduction in our equity earnings from unconsolidated affiliates related to losses recorded by us and our Stagecoach Gas equity investment associated with the sale, which also eliminated our $51.3 million historical basis difference between our investment balance and the equity in the underlying net assets of Stagecoach Gas. In addition, our earnings from unconsolidated affiliates during the nine months ended September 30, 2021, were also reduced by our proportionate share of transaction costs of approximately $3.0 million related to the sale, which were paid by us in July 2021 on behalf of Stagecoach Gas. Our Stagecoach Gas investment was previously included in our storage and logistics segment.

Distributions and Contributions

The following table summarizes our distributions from and contributions to our unconsolidated affiliates (in millions):
Distributions(1)
Contributions
Nine Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Crestwood Permian$13.6 $8.9 $83.5 $3.3 
Crestwood Permian Basin2.2 — — — 
Tres Holdings4.9 13.1 6.7 6.9 
PRBIC— 0.1 — — 
Stagecoach Gas— 640.9 — — 
Total$20.7 $663.0 $90.2 $10.2 
(1)    In October 2022, we received a cash distribution from Tres Holdings of approximately $3.9 million. In addition, in October 2022, we made cash contributions of approximately $0.4 million and $0.3 million to Tres Holdings and PRBIC, respectively. In July 2021, Stagecoach Gas closed on the sale of certain of its wholly-owned subsidiaries to a subsidiary of Kinder Morgan as described above and distributed to us approximately $613.9 million as our proportionate share of the gross proceeds received from the sale.