Equity Investments and Loans (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Investments

Summarized 100% financial information for all equity investments is presented on a combined basis below:

	Millions of Dollars
	2019		2018	2017
Revenues	$	2,753	2,294	1,406
Income before income taxes	1,894		1,536	853
Net income	1,832		1,518	778
Current assets	642		751	577
Noncurrent assets	12,072		9,561	8,571
Current liabilities	662		3,008	354
Noncurrent liabilities	4,322		496	3,001

From acquisition date forward.

The following table summarizes our equity investments at December 31:

			Millions of Dollars
	Percentage Ownership		Carrying Value
			2019		2018
Dakota Access, LLC and Energy Transfer Crude Oil Company, LLC (Bakken Pipeline)	25.00	%	$	592	608
Bayou Bridge Pipeline, LLC (Bayou Bridge)	40.00		294		277
DCP Sand Hills Pipeline, LLC (Sand Hills)	33.34		595		601
DCP Southern Hills Pipeline, LLC (Southern Hills)	33.34		215		206
Explorer Pipeline Company (Explorer)	21.94		105		115
Gray Oak Pipeline, LLC	65.00		759		288
Paradigm Pipeline LLC (Paradigm)	50.00		143		145
Phillips 66 Partners Terminal LLC (Phillips 66 Partners Terminal)	70.00		70		71
South Texas Gateway Terminal LLC (South Texas Gateway Terminal)	25.00		74		20
STACK Pipeline LLC (STACK)	50.00		114		117
Total equity investments			$	2,961	2,448

Earnings (losses) from our equity investments were as follows:

	Millions of Dollars
	2019		2018	2017
Bakken Pipeline	$	226	177	69
Bayou Bridge	31		14	12
Sand Hills	150		119	81
Southern Hills	43		37	27
Explorer	33		43	21
Gray Oak Pipeline, LLC	3		1	—
Paradigm	14		10	(1	)
Phillips 66 Partners Terminal	25		28	8
South Texas Gateway Terminal	—		—	—
STACK	10		10	6
Total equity in earnings of affiliates	$	535	439	223