Equity Investments (Tables)

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Investments

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

			Millions of Dollars
	Percentage Ownership		June 30 2020		December 31 2019
Dakota Access, LLC and Energy Transfer Crude Oil Company, LLC (Bakken Pipeline)	25.00	%	$	588	592
Bayou Bridge Pipeline, LLC (Bayou Bridge)	40.00		293		294
DCP Sand Hills Pipeline, LLC (Sand Hills)	33.34		595		595
DCP Southern Hills Pipeline, LLC (Southern Hills)	33.34		218		215
Explorer Pipeline Company (Explorer)	21.94		100		105
Gray Oak Pipeline, LLC	65.00		896		759
Liberty Pipeline LLC (Liberty)	50.00		202		—
Paradigm Pipeline LLC (Paradigm)	50.00		142		143
Phillips 66 Partners Terminal LLC (Phillips 66 Partners Terminal)	70.00		66		70
South Texas Gateway Terminal LLC (South Texas Gateway Terminal)	25.00		129		74
STACK Pipeline LLC (STACK)	50.00		111		114
Total equity investments			$	3,340	2,961

Earnings from our equity investments were as follows:

	Millions of Dollars
	Three Months Ended June 30			Six Months Ended June 30
	2020		2019	2020	2019
Bakken Pipeline	$	30	58	87	109
Bayou Bridge	7		8	17	12
Sand Hills	37		38	78	74
Southern Hills	10		11	21	24
Explorer	4		11	11	14
Gray Oak Pipeline, LLC	14		—	19	—
Liberty	—		—	—	—
Paradigm	2		3	6	6
Phillips 66 Partners Terminal	(1)		6	(1)	12
South Texas Gateway Terminal	—		—	—	—
STACK	1		2	2	5
Total equity in earnings of affiliates	$	104	137	240	256

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

	Millions of Dollars
	Three Months Ended June 30			Six Months Ended June 30
	2020		2019	2020	2019
Revenues	$	169	254	427	490
Income before income taxes	94		181	280	338
Net income	94		181	280	338