Equity Method Investments (Tables)

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Equity method investments

Equity method investments are as follows:

	December 31,
(millions)	2014		2013
Equity Method Investments
AMPCO	$	141	$	139
Alba Plant	82		95
CONE Investments(1)	82		184
Other	20		19
Total Equity Method Investments	$	325	$	437

⁽¹⁾ CONE Investments includes our investments in CONE Midstream and CONE Gathering.

Other At December 31, 2014, consolidated retained earnings included $100 million related to the undistributed earnings of equity method investees.

The carrying value of our AMPCO investment was $8 million higher than the underlying net assets of the investee at December 31, 2014.  The difference is related to capitalized interest which is being amortized into earnings over the remaining useful life of the plant.

Summarized, 100% combined financial information for equity method investees is as follows:

	December 31,
(millions)	2014		2013
Balance Sheet Information
Current Assets	$	412	$	463
Noncurrent Assets	1,169		983
Current Liabilities	374		373
Noncurrent Liabilities	33		29

	Year Ended December 31,
(millions)	2014			2013			2012
Statements of Operations Information
Operating Revenues	$	1,142		$	1,256		$	1,173
Operating Expenses	405			388			361
Operating Income	737			868			812
Other (Income) Net	(9		)	(14		)	(5		)
Income Before Income Taxes	746			882			817
Income Tax Provision	172			212			200
Net Income	$	574		$	670		$	617