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Consolidated Statement of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues and Other Income        
Operating revenues $ 265 $ 270 $ 773 $ 835
Equity in earnings of affiliates 129 139 369 395
Gain from equity interest transfer 0 0 84 0
Other income 0 2 2 5
Total revenues and other income 394 411 1,228 1,235
Costs and Expenses        
Operating and maintenance expenses 85 91 257 315
Depreciation 35 30 96 88
General and administrative expenses 16 16 50 51
Taxes other than income taxes 9 10 30 30
Interest and debt expense 32 26 89 80
Other expenses 0 0 7 0
Total costs and expenses 177 173 529 564
Income before income taxes 217 238 699 671
Income tax expense 1 1 2 3
Net Income 216 237 697 668
Less: Net income attributable to noncontrolling interest 10 0 10 0
Net Income Attributable to the Partnership 206 237 687 668
Less: Preferred unitholders’ interest in net income attributable to the Partnership 10 9 29 28
Less: General partner’s interest in net income attributable to the Partnership 0 0 0 140
Limited Partners’ Interest in Net Income Attributable to the Partnership $ 196 $ 228 $ 658 $ 500
Common Units        
Net Income Attributable to the Partnership Per Limited Partner Unit (dollars)        
Common units - basic (in dollars per share) $ 0.86 $ 1.18 $ 2.88 $ 3.39
Common units - diluted (in dollars per share) $ 0.85 $ 1.15 $ 2.84 $ 3.25
Weighted-Average Limited Partner Units Outstanding (thousands)        
Common units—basic (in shares) 228,340,146 192,273,672 228,330,885 147,367,681
Common units—diluted (in shares) 242,160,000 206,093,000 242,151,000 161,187,000
Third Party        
Revenues and Other Income        
Operating revenues $ 9 $ 8 $ 23 $ 21
Related Party        
Revenues and Other Income        
Operating revenues $ 256 $ 262 $ 750 $ 814