Equity Investments (Tables)

9 Months Ended

Sep. 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		September 30 2020		December 31 2019
Dakota Access, LLC and Energy Transfer Crude Oil Company, LLC (Bakken Pipeline)	25.00	%	$	578	592
Bayou Bridge Pipeline, LLC (Bayou Bridge)	40.00		292		294
DCP Sand Hills Pipeline, LLC (Sand Hills)	33.34		586		595
DCP Southern Hills Pipeline, LLC (Southern Hills)	33.34		215		215
Explorer Pipeline Company (Explorer)	21.94		98		105
Gray Oak Pipeline, LLC	65.00		896		759
Liberty Pipeline LLC (Liberty)	50.00		239		—
Paradigm Pipeline LLC (Paradigm)	50.00		141		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		152		74
STACK Pipeline LLC (STACK)	50.00		110		114
Total equity investments			$	3,373	2,961

Earnings from our equity investments were as follows:

	Millions of Dollars
	Three Months Ended September 30			Nine Months Ended September 30
	2020		2019	2020	2019
Bakken Pipeline	$	37	58	124	167
Bayou Bridge	6		9	23	21
Sand Hills	33		39	111	113
Southern Hills	11		10	32	34
Explorer	6		12	17	26
Gray Oak Pipeline, LLC	30		(2)	49	(2)
Liberty	—		—	—	—
Paradigm	4		4	10	10
Phillips 66 Partners Terminal	(1)		6	(2)	18
South Texas Gateway Terminal	2		—	2	—
STACK	1		3	3	8
Total equity in earnings of affiliates	$	129	139	369	395

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

	Millions of Dollars
	Three Months Ended September 30			Nine Months Ended September 30
	2020		2019	2020	2019
Revenues	$	196	258	623	748
Income before income taxes	121		189	401	527
Net income	121		189	401	527