Equity Investments and Loans (Tables)

3 Months Ended

Mar. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Investments

Summarized financial information for 100% of Dakota Access is as follows:

	Millions of Dollars
	Three Months Ended March 31
	2020		2019
Revenues	$	258	236
Income before income taxes	186		157
Net income	186		157

The following table summarizes the carrying value of our equity investments:

			Millions of Dollars
	Percentage Ownership		March 31 2020		December 31 2019
Dakota Access, LLC and Energy Transfer Crude Oil Company, LLC (Bakken Pipeline)	25.00	%	$	595	592
Bayou Bridge Pipeline, LLC (Bayou Bridge)	40.00		296		294
DCP Sand Hills Pipeline, LLC (Sand Hills)	33.34		598		595
DCP Southern Hills Pipeline, LLC (Southern Hills)	33.34		218		215
Explorer Pipeline Company (Explorer)	21.94		102		105
Gray Oak Pipeline, LLC	65.00		799		759
Liberty Pipeline LLC (Liberty)	50.00		103		—
Paradigm Pipeline LLC (Paradigm)	50.00		143		143
Phillips 66 Partners Terminal LLC (Phillips 66 Partners Terminal)	70.00		67		70
South Texas Gateway Terminal LLC (South Texas Gateway Terminal)	25.00		102		74
STACK Pipeline LLC (STACK)	50.00		113		114
Total equity investments			$	3,136	2,961

Earnings from our equity investments were as follows:

	Millions of Dollars
	Three Months Ended March 31
	2020		2019
Bakken Pipeline	$	57	51
Bayou Bridge	10		4
Sand Hills	41		36
Southern Hills	11		13
Explorer	7		3
Gray Oak Pipeline, LLC	5		—
Liberty	—		—
Paradigm	4		3
Phillips 66 Partners Terminal	—		6
South Texas Gateway Terminal	—		—
STACK	1		3
Total equity in earnings of affiliates	$	136	119