Divestiture

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Divestiture [Text Block]

Note 3 – Divestiture

In September 2016, we completed the sale of subsidiaries conducting Canadian operations (such subsidiaries, the disposal group). Consideration received to date totaled $672 million, net of $13 million of cash divested and subject to customary working capital adjustments. Consideration also included $150 million in the form of a waiver of incentive distributions otherwise payable to Williams in the fourth quarter of 2016. The waiver recognizes certain affiliate contracts wherein our Canadian operations provided services to Williams. This noncash transaction is reflected as a decrease in General partner equity in the Consolidated Statement of Changes in Equity. The proceeds were primarily used to reduce borrowings on credit facilities.

During the second quarter of 2016, we designated these operations as held for sale. As a result, we measured the fair value of the disposal group as of June 30, 2016, resulting in an impairment charge of $341 million, reflected in Impairment of certain assets in the Consolidated Statement of Comprehensive Income (Loss). (See Note 17 – Fair Value Measurements, Guarantees, and Concentration of Credit Risk.) During the second half of 2016, we recorded an additional loss of $34 million at our NGL & Petchem Services segment upon completion of the sale, primarily reflecting revisions to the sales price and including an $11 million benefit related to transactions to hedge our foreign currency exchange risk on the Canadian proceeds, reflected in Other (income) expense – net within Costs and expenses in the Consolidated Statement of Comprehensive Income (Loss).

The following table presents the results of operations for the disposal group, excluding the impairment and loss noted above.

	Years Ended December 31,
	2016			2015
	(Millions)
Income (loss) before income taxes of disposal group	$	(9	)	$	6