Acquisitions, Divestitures, and Assets Held for Sale (Tables)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The following summarizes the preliminary fair value of assets acquired and liabilities assumed at the acquisition date, pending the acquired entity’s final financial statements:

millions
Current assets	$	46
Properties and equipment	441
Other intangible assets	836
Accounts payable	(13		)
Accrued expenses	(25		)
Deferred income taxes	(1		)
Asset retirement obligations	(9		)
Goodwill	279
Total assets acquired and liabilities assumed	$	1,554

Acquisitions Table

The following summarizes acquisitions made during 2013:

millions, except percentages	Percentage Acquired		Cash Paid
Certain oil and gas properties and related assets in the Moxa area of Wyoming	100	%	$	310	(1)
Gas-gathering systems in the Marcellus shale in north-central Pennsylvania	33.75	%	135
Joint venture formed to design, construct, and own two fractionators located in   Mont Belvieu, Texas	25	%	78
Intrastate pipeline in southwestern Wyoming	100	%	28

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⁽¹⁾  Includes $306 million that represents the fair value of the oil and gas properties acquired.

Schedule of Proceeds Received and Gains (Losses) Recognized on Divestitures

The following summarizes the proceeds received and gains (losses) recognized on divestitures for the years ended December 31:

millions	2014		2013			2012
Proceeds received	$	4,968	$	567		$	657
Gains (losses) on divestitures, net	1,891		(470		)	(71		)