Segment Information (Tables)

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Reportable Segment Information

Reportable segment information is shown in the following tables:

	Three Months Ended June 30, 2017
	Gathering and Processing		Logistics and Marketing		Other		Corporate and Eliminations			Total
Revenues
Sales of commodities	$	177.5	$	1,440.3	$	6.0	$	—		$	1,623.8
Fees from midstream services		132.3		111.6		—		—			243.9
		309.8		1,551.9		6.0		—			1,867.7
Intersegment revenues
Sales of commodities		712.4		81.8		—		(794.2	)		—
Fees from midstream services		1.4		7.1		—		(8.5	)		—
		713.8		88.9		—		(802.7	)		—
Revenues	$	1,023.6	$	1,640.8	$	6.0	$	(802.7	)	$	1,867.7
Operating margin	$	173.5	$	112.4	$	6.0	$	—		$	291.9
Other financial information:
Total assets (1)	$	10,845.2	$	2,918.5	$	46.7	$	108.0		$	13,918.4
Goodwill	$	256.6	$	—	$	—	$	—		$	256.6
Capital expenditures	$	295.8	$	136.1	$	—	$	2.6		$	434.5

(1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

	Three Months Ended June 30, 2016
	Gathering and Processing		Logistics and Marketing		Other		Corporate and Eliminations			Total
Revenues
Sales of commodities	$	158.7	$	1,135.6	$	18.6	$	—		$	1,312.9
Fees from midstream services		124.6		146.1		—		—			270.7
		283.3		1,281.7		18.6		—			1,583.6
Intersegment revenues
Sales of commodities		468.6		52.7		—		(521.3	)		—
Fees from midstream services		1.8		4.4		—		(6.2	)		—
		470.4		57.1		—		(527.5	)		—
Revenues	$	753.7	$	1,338.8	$	18.6	$	(527.5	)	$	1,583.6
Operating margin	$	139.1	$	141.8	$	18.6	$	—		$	299.5
Other financial information:
Total assets (1)	$	10,168.0	$	2,644.4	$	55.0	$	132.7		$	13,000.1
Goodwill	$	393.0	$	—	$	—	$	—		$	393.0
Capital expenditures	$	71.3	$	42.7	$	—	$	0.9		$	114.9

(1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

	Six Months Ended June 30, 2017
	Gathering and Processing		Logistics and Marketing		Other		Corporate and Eliminations			Total
Revenues
Sales of commodities	$	344.3	$	3,132.5	$	4.9	$	—		$	3,481.7
Fees from midstream services		250.7		247.9		—		—			498.6
		595.0		3,380.4		4.9		—			3,980.3
Intersegment revenues
Sales of commodities		1,425.5		157.2		—		(1,582.7	)		—
Fees from midstream services		3.3		14.1		—		(17.4	)		—
		1,428.8		171.3		—		(1,600.1	)		—
Revenues	$	2,023.8	$	3,551.7	$	4.9	$	(1,600.1	)	$	3,980.3
Operating margin	$	351.1	$	242.4	$	4.9	$	(0.1	)	$	598.3
Other financial information:
Total assets (1)	$	10,845.2	$	2,918.5	$	46.7	$	108.0		$	13,918.4
Goodwill	$	256.6	$	—	$	—	$	—		$	256.6
Capital expenditures	$	434.7	$	171.0	$	—	$	3.4		$	609.1
Business acquisition	$	987.1	$	—	$	—	$	—		$	987.1

(1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

	Six Months Ended June 30, 2016
	Gathering and Processing		Logistics and Marketing		Other		Corporate and Eliminations			Total
Revenues
Sales of commodities	$	269.0	$	2,169.3	$	45.7	$	—		$	2,484.0
Fees from midstream services		240.4		301.6		—		—			542.0
		509.4		2,470.9		45.7		—			3,026.0
Intersegment revenues
Sales of commodities		881.0		100.0		—		(981.0	)		—
Fees from midstream services		3.9		8.5		—		(12.4	)		—
		884.9		108.5		—		(993.4	)		—
Revenues	$	1,394.3	$	2,579.4	$	45.7	$	(993.4	)	$	3,026.0
Operating margin	$	254.7	$	298.5	$	45.7	$	(0.1	)	$	598.8
Other financial information:
Total assets (1)	$	10,168.0	$	2,644.4	$	55.0	$	132.7		$	13,000.1
Goodwill	$	393.0	$	—	$	—	$	—		$	393.0
Capital expenditures	$	174.2	$	115.9	$	—	$	1.7		$	291.8

(1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

Revenues by Product and Service

The following table shows our consolidated revenues by product and service for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Sales of commodities:
Natural gas	$	496.0	$	309.5	$	976.9	$	636.4
NGL		1,034.3		923.5		2,349.0		1,708.9
Condensate		47.4		39.0		91.0		61.2
Petroleum products		40.1		22.3		59.9		31.8
Derivative activities		6.0		18.6		4.9		45.7
		1,623.8		1,312.9		3,481.7		2,484.0
Fees from midstream services:
Fractionating and treating		32.0		31.5		63.0		61.6
Storage, terminaling, transportation and export		72.9		108.2		172.7		226.7
Gathering and processing		122.7		114.0		230.5		219.0
Other		16.3		17.0		32.4		34.7
		243.9		270.7		498.6		542.0
Total revenues	$	1,867.7	$	1,583.6	$	3,980.3	$	3,026.0

Reconciliation of Operating Margin to Net Income (Loss)

The following table shows a reconciliation of operating margin to net income (loss) for the periods presented:

	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Reconciliation of operating margin to net income (loss):
Operating margin	$	291.9		$	299.5		$	598.3		$	598.8
Depreciation and amortization expenses		(203.4	)		(186.1	)		(394.6	)		(379.6	)
General and administrative expenses		(51.0	)		(47.0	)		(99.6	)		(92.2	)
Goodwill impairment		—			—			—			(24.0	)
Interest expense, net		(62.1	)		(71.4	)		(125.1	)		(124.3	)
Other, net		(10.8	)		(7.9	)		(53.8	)		10.9
Income tax (expense) benefit		106.0			(1.7	)		34.9			(4.8	)
Net income (loss)	$	70.6		$	(14.6	)	$	(39.9	)	$	(15.2	)