Related Party Transactions

9 Months Ended

Sep. 30, 2020

RELATED PARTY TRANSACTIONS

ET-ETO Promissory Note

As of September 30, 2020 and December 31, 2019, ETO’s promissory note receivable from ET had an outstanding balance of $2.8 billion and $3.7 billion, respectively, and ETO’s long-term intercompany payable to ET had an outstanding balance of $150 million and $104 million, respectively. The outstanding promissory note receivable and intercompany payable are reflected on a net basis in the Partnership’s consolidated balance sheets.

Interest income attributable to promissory notes from ET included in other, net in our consolidated statements of operations for the three months ended September 30, 2020 and 2019 was $36 million and $56 million, respectively. Interest income attributable to promissory notes from ET included in other income, net in our consolidated statements of operations for the nine months ended September 30, 2020 and 2019 was $118 million and $144 million, respectively.

The Partnership also has related party transactions with several of its unconsolidated affiliates. In addition to commercial transactions, these transactions include the provision of certain management services and leases of certain assets.

The following table summarizes the revenues from related companies on our consolidated statements of operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Revenues from related companies	$	100	$	129	$	375	$	374

The following table summarizes the accounts receivable from and accounts payable to related companies on our consolidated balance sheets:


	September 30, 2020		December 31, 2019
Accounts receivable from related companies:
ET	$	3	$	8
FGT	13		50
Phillips 66	36		36


Various	41		73
Total accounts receivable from related companies	$	93	$	167

Accounts payable to related companies:





Various	46		31
Total accounts payable to related companies	$	46	$	31