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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue    
Revenue from contract with customer $ 125 $ 107
Lease revenue – related parties 14 14
Total revenue 139 121
Costs and expenses    
Operations and maintenance – third parties 11 14
Operations and maintenance – related parties 27 14
Cost of product sold 4 15
Impairment charge 3 0
General and administrative – third parties 2 3
General and administrative – related parties 10 12
Depreciation, amortization and accretion 13 13
Property and other taxes 5 5
Total costs and expenses 75 76
Operating income 64 45
Income from equity method investments 102 112
Other income 14 9
Investment and other income 116 121
Interest income 8 1
Interest expense 21 25
Income before income taxes 167 142
Income tax expense 0 0
Net income 167 142
Less: Net income attributable to noncontrolling interests 4 4
Net income attributable to the Partnership 163 138
Preferred unitholder’s interest in net income attributable to the Partnership 12 0
General partner’s interest in net income attributable to the Partnership 0 55
Limited Partners’ interest in net income attributable to the Partnership’s common unitholders $ 151 $ 83
Net income per Limited Partner Unit - Basic and Diluted:    
Distributions per Limited Partner unit (in dollars per share) $ 0.4600 $ 0.4600
Common    
Costs and expenses    
Net income attributable to the Partnership   $ 83
Net income per Limited Partner Unit - Basic and Diluted:    
Common - basic (in dollars per share) 0.38 $ 0.36
Common - diluted (in dollars per share) $ 0.37 $ 0.36
Common units – public    
Costs and expenses    
Net income $ 48 $ 44
Weighted average Limited Partner Units outstanding - Basic and Diluted:    
Common units - basic (in shares) 123.8 123.8
Common units - diluted (in shares) 123.8 123.8
Common units – public | Shell Pipeline Company L P    
Costs and expenses    
Net income $ 103 $ 39
Common units – SPLC | Shell Pipeline Company L P    
Weighted average Limited Partner Units outstanding - Basic and Diluted:    
Common units - basic (in shares) 269.5 109.5
Common units - diluted (in shares) 320.3 109.5
Third Parties | Transportation, Terminaling and Storage Services    
Revenue    
Revenue from contract with customer $ 41 $ 31
Third Parties | Product Revenue    
Revenue    
Revenue from contract with customer 0 0
Related Parties    
Revenue    
Lease revenue – related parties 14 14
Related Parties | Transportation, Terminaling and Storage Services    
Revenue    
Revenue from contract with customer 78 69
Related Parties | Product Revenue    
Revenue    
Revenue from contract with customer $ 6 $ 7