Related Party Transactions

9 Months Ended

Sep. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Distributions and Contributions

Pursuant to our limited liability company agreement, we are required to make cash distributions to our Members. During the nine months ended September 30, 2013 and 2012, we paid cash distributions of approximately $156 million and $121 million, respectively. During the nine months ended September 30, 2012, we received a cash contribution of approximately $13 million from our Members to fund our expansion projects.

Affiliate Balances

We enter into transactions with our affiliates within the ordinary course of business. For a further discussion of our affiliated transactions, see our 2012 Form 10-K.

The following table summarizes our balance sheet amounts attributable to affiliate transactions (in millions):

	September 30, 2013		December 31, 2012
Accounts receivable, net	$	1	$	1
Contractual gas imbalance receivable(1)	2		1
Accounts payable	6		4
Contractual gas imbalance payable(2)	3		—
Note receivable(3)	28		36
Financing obligations(4)	170		172

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(1) Included in "Other current assets" on our Consolidated Balance Sheets.

(2) Included in "Accrued other current liabilities" on our Consolidated Balance Sheets.

(3) We participate in EPB’s cash management program which matches the short-term cash surpluses and needs of participating affiliates, thus minimizing total borrowings from outside sources. EPB uses the cash management program to settle intercompany transactions between participating affiliates. The interest rate on this note is variable and was 1.9% and 2.0% as of September 30, 2013 and December 31, 2012. These amounts are included in "Note receivable from affiliate" on our Consolidated Balance Sheets.

(4) Represents financing obligations payable to WYCO Development L.L.C. related to Totem Gas Storage Facility and High Plains Pipeline, of which $5 million is included in "Current portion of debt" on our Consolidated Balance Sheets for each period end.

The following table shows overall revenues, expenses and reimbursements from our affiliates (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Operating revenues	$	—	$	1	$	1	$	5
Operating expenses(1)	15		17		45		71
Reimbursement of operating expenses	—		—		—		5

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(1) Includes severance costs of $1 million and $10 million for the three and nine months ended September 30, 2012, allocated to us from El Paso as a result of KMI's acquisition of El Paso.