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Equity Method Investments (Tables)

9 Months Ended

Sep. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Investments in Affiliates

Equity method investments comprise the following as of the dates indicated:


	September 30, 2019				December 31, 2018
	Ownership	Investment Amount		Ownership	Investment Amount
Amberjack – Series A / Series B	75.0% / 50.0%	$	433	75.0% / 50.0%	$	458
Mars	71.5%	162		71.5%	169
Bengal	50.0%	88		50.0%	82
Permian Basin	50.0%	81		50.0%	72
LOCAP	41.48%	9		41.48%	8
Explorer⁽¹⁾	38.59%	89		12.62%	—
Poseidon	36.0%	—		36.0%	—
Colonial ⁽¹⁾	16.125%	31		6.0%	—
Proteus	10.0%	15		10.0%	16
Endymion	10.0%	18		10.0%	18
		$	926		$	823

⁽¹⁾As part of the June 2019 Acquisition, these interests have been accounted for prospectively. See below for additional information.

Schedule of Equity Investments in Affiliates Balance Affected

Earnings from our equity method investments were as follows during the periods indicated:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Amberjack ⁽¹⁾	$	31	$	33	$	94	$	49
Mars	35		30		93		76
Bengal	8		5		18		15
Explorer ⁽²⁾	20		—		27		—
Colonial ⁽²⁾	17		—		21		—
Poseidon⁽³⁾	—		—		—		6
Other⁽⁴⁾	4		5		12		15
	$	115	$	73	$	265	$	161

⁽¹⁾We acquired an interest in Amberjack in May 2018. The acquisition of this interest has been accounted for prospectively.

⁽²⁾As stated above, we acquired additional interests in Explorer and Colonial in June 2019. The acquisition of these interests has been accounted for prospectively.

⁽³⁾As stated above, the equity method of accounting has been suspended for Poseidon and excess distributions are recorded in Other income.

(4) Included in Other is the activity associated with our investments in Permian Basin, LOCAP, Proteus and Endymion.

Summary of Income Statement Data for Equity Method Investments

The following tables present aggregated selected unaudited income statement data for our equity method investments on a 100% basis. However, during periods in which an acquisition occurs, the selected unaudited income statement data reflects activity from the date of the acquisition.


	Three Months Ended September 30, 2019
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Amberjack	$	80	$	18	$	62	$	62
Mars	82		32		50		50
Bengal	22		7		15		15
Explorer	122		51		71		55
Colonial	354		190		164		109
Poseidon	31		9		22		20
Other ⁽¹⁾	44		21		23		21

⁽¹⁾ Included in Other is the activity associated with our investments in Permian Basin, LOCAP, Proteus and Endymion.


	Nine Months Ended September 30, 2019
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Amberjack	$	235	$	54	$	181	$	182
Mars	212		80		132		133
Bengal	59		23		36		36
Explorer ⁽¹⁾	159		64		95		73
Colonial⁽²⁾	442		234		208		136
Poseidon	96		26		70		63
Other⁽³⁾	130		76		54		47

⁽¹⁾Our additional interest in Explorer was acquired on June 6, 2019. Explorer's total revenues, total operating expenses and operating income (on a 100% basis) were $344 million, $145 million and $199 million, respectively.

⁽²⁾Our additional interest in Colonial was acquired on June 6, 2019. Colonial's total revenues, total operating expenses and operating income (on a 100% basis) were $1,050 million, $520 million and $530 million, respectively.

⁽³⁾ Included in Other is the activity associated with our investments in Permian Basin, LOCAP, Proteus and Endymion.


	Three Months Ended September 30, 2018
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Amberjack	$	83	$	18	$	65	$	65
Mars	69		26		43		43
Bengal	18		7		11		11
Poseidon	28		10		18		16
Other⁽¹⁾	37		18		19		17

⁽¹⁾Included in Other is the activity associated with our investments in Permian Basin, LOCAP, Proteus and Endymion.


	Nine Months Ended September 30, 2018
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Amberjack ⁽¹⁾	$	123	$	28	$	95	$	95
Mars	178		69		109		109
Bengal	51		21		30		30
Poseidon	84		27		57		52
Other ⁽²⁾	112		48		64		57

⁽¹⁾Our interest in Amberjack was acquired on May 11, 2018. Amberjack’s total revenues, total operating expenses and operating income (on a 100% basis) were $214 million, $54 million and $160 million, respectively.

⁽²⁾Included in Other is the activity associated with our investments in Permian Basin, LOCAP, Proteus and Endymion.