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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenue        
Revenue from contract with customer $ 107 $ 115 $ 224 $ 201
Lease revenue – related parties 14 14 28 28
Total revenue 121 129 252 229
Costs and expenses        
Operations and maintenance – third parties 16 25 29 68
Operations and maintenance – related parties 16 13 30 26
Cost of product sold – third parties 2 1 3 1
Cost of product sold – related parties 5 1 13 8
Loss from revision of asset retirement obligation 0 0 2 0
General and administrative – third parties 5 2 6 4
General and administrative – related parties 12 14 23 27
Depreciation, amortization and accretion 12 12 24 23
Property and other taxes 5 4 9 10
Total costs and expenses 73 72 139 167
Operating income 48 57 113 62
Income from equity method investments 80 48 150 88
Dividend income from cost investments 0 13 14 38
Other income 12 10 20 16
Investment, dividend and other income 92 71 184 142
Interest expense, net 21 13 41 24
Income before income taxes 119 115 256 180
Income tax expense 0 0 0 0
Net income 119 115 256 180
Less: Net income attributable to noncontrolling interests 4 4 9 5
Net income attributable to the Partnership 115 111 247 175
Limited Partners' interest in net income attributable to the Partnership $ 85 $ 79 $ 190 $ 116
Net income per Limited Partner Unit - Basic and Diluted        
Distributions per Limited Partner unit (in dollars per share) $ 0.4300 $ 0.3650 $ 0.8450 $ 0.7130
Shell Pipeline Company L P        
Costs and expenses        
General partner's interest in net income attributable to the Partnership $ 30 $ 32 $ 57 $ 59
Common        
Costs and expenses        
Net income attributable to the Partnership $ 85 $ 79 $ 190 $ 116
Net income per Limited Partner Unit - Basic and Diluted        
Net income per Limited Partner unit (in dollars per share) $ 0.38 $ 0.35 $ 0.84 $ 0.54
Common units – public        
Costs and expenses        
Net income $ 45 $ 43    
Weighted average Limited Partner Units outstanding - Basic and Diluted (in millions)        
Weighted average Limited Partner units outstanding - Common (in shares) 123.8 123.8 123.8 118.9
Common units – public | Shell Pipeline Company L P        
Costs and expenses        
Net income $ 40 $ 36    
Common units – SPLC | Shell Pipeline Company L P        
Weighted average Limited Partner Units outstanding - Basic and Diluted (in millions)        
Weighted average Limited Partner units outstanding - Common (in shares) 102.6 100.0 101.3 97.8
Third Parties | Transportation, Terminaling and Storage Services        
Revenue        
Revenue from contract with customer $ 34 $ 57 $ 76 $ 92
Third Parties | Product Revenue        
Revenue        
Revenue from contract with customer 3 1 4 1
Related Parties | Transportation, Terminaling and Storage Services        
Revenue        
Revenue from contract with customer 64 55 128 98
Related Parties | Product Revenue        
Revenue        
Revenue from contract with customer 6 2 $ 16 $ 10
Noncontrolling Interests        
Costs and expenses        
Net income $ 4 $ 4