Note 15 - Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Note 15 - Quarterly Financial Data (Unaudited)

	Quarters
	First		Second		Third		Fourth		Total Year
2018 (a)	(In millions, except per unit amounts)
Revenues	$	546	$	569	$	642	$	623	$	2,380
NGL expense (b)	48		45		73		40		206
Operating expenses	201		221		236		227		885
Operating income	177		180		215		224		796
Net earnings	131		132		166		171		600
Limited partners' interest in net earnings	125		138		160		161		584
Net earnings per limited partner unit (c):
Common - basic	$	0.59	$	0.63	$	0.68	$	0.66	$	2.57
Common - diluted	$	0.59	$	0.63	$	0.68	$	0.66	$	2.57
2017 (a)
Revenues	$	427	$	614	$	1,094	$	1,114	$	3,249
Cost of fuel and other (b)(d)	—		162		554		528		1,244
NGL expense (b)	59		56		64		86		265
Operating expenses	142		171		199		179		691
Operating income	131		146		147		179		603
Net earnings	73		90		90		53		306
Limited partners' interest in net earnings (c)	55		70		97		47		267
Net earnings per limited partner unit (c):
Common - basic	$	0.51	$	0.63	$	0.90	$	0.25	$	2.11
Common - diluted	$	0.51	$	0.63	$	0.90	$	0.25	$	2.11

(a) Adjusted to include the historical results of the Predecessors. See Notes 1 and 2 for further discussion.

(b) Excludes direct operating expenses incurred across our operating segments and depreciation and amortization expenses.

(c) The sum of four quarters may not equal annual results due to rounding or the quarterly number of units outstanding.

(d) Due to the adoption of ASC 606 effective January 1, 2018, the revenues and costs associated with our fuel purchase and supply arrangements for the year ended December 31, 2018 were netted. See Note 1 for further discussion.