Equity Method Investments (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Equity method investments

The carrying values of our equity method investments, including the respective segments, are as follows:

			December 31,
(millions, except percentages)	Segment	Ownership	2019		2018
Eastern Mediterranean Pipeline B.V.	Eastern Mediterranean	25%	$	189	$	—
Atlantic Methanol Production Company, LLC and Affiliates(1)	West Africa	45%	160		146
Alba Plant LLC (2)	West Africa	28%	56		58
EPIC Y-Grade, LP	Midstream	15%	166		—
EPIC Crude Holdings, LP	Midstream	30%	339		—
Delaware Crossing LLC	Midstream	50%	69		—
Advantage Pipeline, L.L.C.	Midstream	50%	77		73
Other	N/A	N/A	10		9
Total Equity Method Investments (3)			$	1,066	$	286

⁽¹⁾  Atlantic Methanol Production Company, LLC (AMPCO) owns and operates a methanol plant and related facilities in Equatorial Guinea.

⁽²⁾  Alba Plant LLC owns and operates a LPG processing plant in Equatorial Guinea.

⁽³⁾ 

At December 31, 2019, total carrying values were $42 million higher than the underlying net assets of the investments, primarily due to capitalized interest which is amortized into earnings over the useful life of the related assets.

Summarized, 100% combined balance sheet information for equity method investments was as follows:

	December 31,
(millions)	2019		2018
Current Assets	$	681	$	387
Noncurrent Assets	5,306		575
Current Liabilities	607		198
Noncurrent Liabilities	2,243		81

Summarized, 100% combined statements of operations for equity method investments was as follows:

	Year Ended December 31,
(millions)	2019			2018		2017
Operating Revenues	$	1,018		$	855	$	790
Operating Expenses	853			284		303
Operating Income	165			571		487
Other (Loss) Income, net	(33		)	3		15
Income Before Income Taxes	132			574		502
Income Tax Provision	72			152		136
Net Income	$	60		$	422	$	366