Operations And Basis of Presentation Operations and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2020

Operations and Basis of Presentation [Abstract]

Changes in the carrying amounts of goodwill were as follows:


	Intrastate Transportation and Storage		Interstate Transportation and Storage		Midstream		NGL and Refined Products Transportation and Services		Crude Oil Transportation and Services		Investment in Sunoco LP		Investment in USAC		All Other		Total
Balance, December 31, 2019	$	10	$	226	$	483	$	693	$	1,397	$	1,555	$	619	$	184	$	5,167


Impaired	—		(183)		(483)		—		—		—		(619)		(40)		(1,325)
Other	—		—		—		—		—		—		—		(7)		(7)
Balance, March 31, 2020	10		43		—		693		1,397		1,555		—		137		3,835



Other	—		—		—		—		—		—		—		33		33
Balance, June 30, 2020	10		43		—		693		1,397		1,555		—		170		3,868


Impaired	—		(43)		—		—		(1,279)		—		—		(132)		(1,454)
Other	—		—		—		—		(66)		—		—		70		4
Balance, September 30, 2020	$	10	$	—	$	—	$	693	$	52	$	1,555	$	—	$	108	$	2,418

Accounting Standards Update and Change in Accounting Principle [Table Text Block]

The impacts of this accounting policy change on the Partnership’s net income for the nine months ended September 30, 2020 was approximately $265 million. As a result of this change in accounting policy, the Partnership’s consolidated balance sheets for prior periods have been retrospectively adjusted as follows:


	December 31, 2019						December 31, 2018
	As Originally Reported*		Effect of Change		As Adjusted		As Originally Reported		Effect of Change		As Adjusted
Inventories	$	1,935	$	(403)	$	1,532	$	1,677	$	(305)	$	1,372
Total current assets	7,888		(403)		7,485		6,820		(305)		6,515
Other non-current assets, net	1,075		496		1,571		1,006		472		1,478
Total assets	102,201		93		102,294		88,442		167		88,609
Total partners’ capital	27,289		93		27,382		28,718		167		28,885

* Amounts reflect the retrospective consolidation of the SemGroup entities discussed above.

In addition, the Partnership’s consolidated statements of operations, comprehensive income and cash flows for prior periods have been retrospectively adjusted as follows:


	Year Ended December 31,				Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2018		2019		2019
As originally reported:
Consolidated Statements of Operations and Comprehensive Income
Cost of products sold	$	39,603	$	41,658	$	9,890	$	29,607
Operating income	7,285		5,402		1,834		5,589
Income from continuing operations before income tax expense	5,386		4,044		1,279		4,002
Net income	5,186		3,774		1,224		3,786

Comprehensive income	5,210		3,731		1,217		3,788
Comprehensive income attributable to partners	4,108		2,982		944		2,967

Consolidated Statements of Cash Flows
Net income	5,186		3,774		1,224		3,786

Net change in operating assets and liabilities	(479)		117		(77)		(325)

Effect of change:
Consolidated Statements of Operations and Comprehensive Income
Cost of products sold	74		(55)		(26)		35
Operating income	(74)		55		26		(35)
Income from continuing operations before income tax expense	(74)		55		26		(35)
Net income	(74)		55		26		(35)

Comprehensive income	(74)		55		26		(35)
Comprehensive income attributable to partners	(74)		55		26		(35)

Consolidated Statements of Cash Flows
Net income	(74)		55		26		(35)

Net change in operating assets and liabilities	74		(55)		(26)		35

As adjusted:
Consolidated Statements of Operations and Comprehensive Income
Cost of products sold	39,677		41,603		9,864		29,642
Operating income	7,211		5,457		1,860		5,554
Income from continuing operations before income tax expense	5,312		4,099		1,305		3,967
Net income	5,112		3,829		1,250		3,751

Comprehensive income	5,136		3,786		1,243		3,753
Comprehensive income attributable to partners	4,034		3,037		970		2,932

Consolidated Statements of Cash Flows
Net income	5,112		3,829		1,250		3,751

Net change in operating assets and liabilities	(405)		62		(103)		(290)