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Investment In Unconsolidated Affiliates (Tables)
 9 Months Ended
Sep. 30, 2013
Carrying value of limited and general partnership interest
The carrying value of the Partnership’s investment in each of the unconsolidated affiliates as of September 30, 2013 and December 31, 2012 is as follows:
 
September 30, 2013
 
December 31, 2012
HPC
$
448

 
$
650

MEP
556

 
581

Lone Star
1,040

 
948

Ranch JV
36

 
35

Grey Ranch
1

 
—

 
$
2,081

 
$
2,214
Changes In The Partnership's Investment
The following tables summarize the Partnership’s investment activities in each of the unconsolidated affiliates for the three and nine months ended September 30, 2013 and 2012:
 
Three Months Ended September 30, 2013
 
         HPC (1)
 
MEP
 
Lone Star
 
Ranch JV
Contributions to unconsolidated affiliates
$
—

 
$
—

 
$
51

 
$
1

Distributions from unconsolidated affiliates
(196
)
 
(18
)
 
(16
)
 
(1
)
Share of earnings of unconsolidated affiliates’ net income
9

 
11

 
18

 
—

Amortization of excess fair value of investment
(1
)
 
—

 
—

 
—

 
Three Months Ended September 30, 2012
 
HPC
 
MEP
 
Lone Star
 
Ranch JV
Contributions to unconsolidated affiliates
$
—

 
$
—

 
$
78

 
$
10

Distributions from unconsolidated affiliates
(16
)
 
(18
)
 
(21
)
 
—

Share of earnings of unconsolidated affiliates’ net income
3

 
10

 
9

 
—

Amortization of excess fair value of investment
(1
)
 
—

 
—

 
—

 
Nine Months Ended September 30, 2013
 
         HPC (1)
 
MEP
 
Lone Star
 
Ranch JV
Contributions to unconsolidated affiliates
$
—

 
$
—

 
$
100

 
$
2

Distributions from unconsolidated affiliates
(226
)
 
(56
)
 
(56
)
 
(1
)
Share of earnings of unconsolidated affiliates’ net income
28

 
31

 
48

 
—

Amortization of excess fair value of investment
(4
)
 
—

 
—

 
—

 
Nine Months Ended September 30, 2012
 
HPC
 
MEP
 
Lone Star
 
Ranch JV
Contributions to unconsolidated affiliates
$
—

 
$
—

 
$
253

 
$
33

Distributions from unconsolidated affiliates
(46
)
 
(56
)
 
(39
)
 
—

Share of earnings of unconsolidated affiliates’ net income
28

 
31

 
32

 
—

Amortization of excess fair value of investment
(4
)
 
—

 
—

 
—


(1) The Partnership received a non-recurring return of capital of $185 million from HPC in September 2013. HPC entered into a $500 million 5-year revolving credit facility in September 2013. Concurrent with the closing of this facility, HPC borrowed $370 million to fund a non-recurring return of capital to the partners. The Partnership pledged its 49.99% equity interest in Regency Intrastate Gas LP. The amounts outstanding under this facility was $445 million as of September 30, 2013. The Partnership’s contingent obligations with respect to the outstanding borrowings under this facility was $222 million at September 30, 2013.
Condensed Consolidated Income Statements
The following tables present selected income statement data for each of the unconsolidated affiliates, on a 100% basis, for the three and nine months ended September 30, 2013 and 2012:
 
Three Months Ended September 30, 2013
 
HPC
 
MEP
 
Lone Star
 
Ranch JV
Total revenues
$
38

 
$
66

 
$
537

 
$
4

Operating income
19

 
34

 
61

 
1

Net income
18

 
21

 
61

 
1

 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2012
 
HPC
 
MEP
 
Lone Star
 
Ranch JV
Total revenues
$
42

 
$
65

 
$
165

 
$
—

Operating income (loss)
21

 
33

 
31

 
(1
)
Net income (loss)
6

 
21

 
31

 
(1
)

 
Nine Months Ended September 30, 2013
 
HPC
 
MEP
 
Lone Star
 
Ranch JV
Total revenues
$
116

 
$
194

 
$
1,320

 
$
10

Operating income
58

 
101

 
162

 
2

Net income
56

 
63

 
160

 
2

 
Nine Months Ended September 30, 2012
 
HPC
 
MEP
 
Lone Star
 
Ranch JV
Total revenues
$
130

 
$
196

 
$
490

 
$
—

Operating income (loss)
71

 
101

 
110

 
(1
)
Net income (loss)
55

 
63

 
110

 
(1
)