Equity Method Investments (Tables)

9 Months Ended

Sep. 30, 2020

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, 2020			December 31, 2019
	Ownership	Investment Amount		Ownership	Investment Amount
Mattox (1)	79.0%	$	166	—	$	—
Amberjack – Series A / Series B	75.0% / 50.0%	395		75.0% / 50.0%	426
Mars	71.5%	156		71.5%	161
Bengal	50.0%	89		50.0%	88
Permian Basin	50.0%	88		50.0%	91
LOCAP	41.48%	12		41.48%	9
Explorer	38.59%	79		38.59%	88
Poseidon	36.0%	—		36.0%	—
Colonial	16.125%	28		16.125%	30
Proteus	10.0%	14		10.0%	15
Endymion	10.0%	18		10.0%	18
		$	1,045		$	926

(1) Mattox was acquired as part of the April 2020 Transaction. This interest has been accounted for on a prospective basis. 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, 2020
	2020		2019		2020		2019
Mattox (1)	$	15	$	—	$	30	$	—
Amberjack	28		31		86		94
Mars	33		35		92		93
Bengal	5		8		14		18
Explorer (2)	9		20		33		27
Colonial (2)	14		17		59		21
Other (3)	5		4		16		12
	$	109	$	115	$	330	$	265

(1) We acquired an interest in Mattox on April 1, 2020. The acquisition of this interest has been accounted for prospectively.

(2) We acquired additional interests in Explorer and Colonial in June 2019. The acquisition of these interests has been accounted for prospectively. Prior to the acquisition date, Explorer and Colonial were accounted for as Other investments without readily determinable fair values and were therefore carried at cost.

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

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, 2020
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Mattox	$	22	$	3	$	19	$	19
Amberjack	69		16		53		54
Mars	68		22		46		46
Bengal	19		9		10		10
Explorer	75		42		33		25
Colonial	319		172		147		89
Poseidon	36		9		27		26
Other (1)	53		30		23		20

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

	Nine Months Ended September 30, 2020
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Mattox (1)	$	44	$	6	$	38	$	38
Amberjack	219		52		167		167
Mars	201		71		130		130
Bengal	51		24		27		27
Explorer	251		132		119		91
Colonial	1,068		501		567		374
Poseidon	99		26		73		68
Other (2)	167		91		76		68

(1) Our interest in Mattox was acquired on April 1, 2020. Mattox’s total revenues, total operating expenses and operating income (on a 100% basis) for the nine months ended September 30, 2020 were $62 million, $9 million and $53 million, respectively.

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

	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) for the nine months ended September 30, 2019 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) for the nine months ended September 30, 2019 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.