Reportable Segments (Notes)

12 Months Ended

Dec. 31, 2015

Reportable Segments [Abstract]

REPORTABLE SEGMENTS

REPORTABLE SEGMENTS:

Our financial statements currently reflect the following reportable segments, which conduct their business in the United States, as follows:

•intrastate transportation and storage;

•interstate transportation and storage;

•midstream;

•liquids transportation and services;

•investment in Sunoco Logistics;

•retail marketing; and

•all other.

Intersegment and intrasegment transactions are generally based on transactions made at market-related rates. Consolidated revenues and expenses reflect the elimination of all material intercompany transactions.

Revenues from our intrastate transportation and storage segment are primarily reflected in natural gas sales and gathering, transportation and other fees. Revenues from our interstate transportation and storage segment are primarily reflected in gathering, transportation and other fees. Revenues from our midstream segment are primarily reflected in natural gas sales, NGL sales and gathering, transportation and other fees. Revenues from our liquids transportation and services segment are primarily reflected in NGL sales and gathering, transportation and other fees. Revenues from our investment in Sunoco Logistics segment are primarily reflected in crude sales. Revenues from our retail marketing segment are primarily reflected in refined product sales.

In connection with the Regency Merger, Regency’s operations were aggregated into ETP’s existing segments. Regency’s gathering and processing operations were aggregated into our midstream segment. Regency’s natural gas transportation operations were aggregated into our intrastate transportation and storage and interstate transportation and storage segments. Regency’s contract services and natural resources operations were aggregated into our all other segment. Additionally, in June 2015, Regency’s 30% equity interest in Lone Star was transferred to ETC OLP.

We report Segment Adjusted EBITDA as a measure of segment performance. We define Segment Adjusted EBITDA as earnings before interest, taxes, depreciation, depletion, amortization and other non-cash items, such as non-cash compensation expense, gains and losses on disposals of assets, the allowance for equity funds used during construction, unrealized gains and losses on commodity risk management activities, non-cash impairment charges, loss on extinguishment of debt, gain on deconsolidation and other non-operating income or expense items. Unrealized gains and losses on commodity risk management activities include unrealized gains and losses on commodity derivatives and inventory fair value adjustments (excluding lower of cost or market adjustments). Segment Adjusted EBITDA reflects amounts for unconsolidated affiliates based on the Partnership’s proportionate ownership.

The following tables present financial information by segment:

	Years Ended December 31,
	2015			2014			2013
Revenues:
Intrastate transportation and storage:
Revenues from external customers	$	1,912		$	2,645		$	2,242
Intersegment revenues	338			212			210
	2,250			2,857			2,452
Interstate transportation and storage:
Revenues from external customers	1,008			1,057			1,270
Intersegment revenues	17			15			39
	1,025			1,072			1,309
Midstream:
Revenues from external customers	2,622			4,770			3,220
Intersegment revenues	2,449			2,053			1,056
	5,071			6,823			4,276
Liquids transportation and services:
Revenues from external customers	3,232			3,730			2,025
Intersegment revenues	249			181			101
	3,481			3,911			2,126
Investment in Sunoco Logistics:
Revenues from external customers	10,302			17,920			16,480
Intersegment revenues	184			168			159
	10,486			18,088			16,639
Retail marketing:
Revenues from external customers	12,478			22,484			21,004
Intersegment revenues	4			3			8
	12,482			22,487			21,012
All other:
Revenues from external customers	2,738			2,869			2,094
Intersegment revenues	554			462			503
	3,292			3,331			2,597
Eliminations	(3,795		)	(3,094		)	(2,076		)
Total revenues	$	34,292		$	55,475		$	48,335

	Years Ended December 31,
	2015			2014			2013
Cost of products sold:
Intrastate transportation and storage	$	1,554		$	2,169		$	1,737
Midstream	3,266			4,893			3,130
Liquids transportation and services	2,595			3,166			1,654
Investment in Sunoco Logistics	9,307			17,135			15,600
Retail marketing	11,174			21,154			20,150
All other	2,855			2,975			2,337
Eliminations	(3,722		)	(3,078		)	(2,028		)
Total cost of products sold	$	27,029		$	48,414		$	42,580

	Years Ended December 31,
	2015		2014		2013
Depreciation, depletion and amortization:
Intrastate transportation and storage	$	129	$	125	$	122
Interstate transportation and storage	210		203		244
Midstream	720		569		335
Liquids transportation and services	126		113		91
Investment in Sunoco Logistics	382		296		265
Retail marketing	190		189		114
All other	172		174		125
Total depreciation, depletion and amortization	$	1,929	$	1,669	$	1,296

	Years Ended December 31,
	2015			2014			2013
Equity in earnings (losses) of unconsolidated affiliates:
Intrastate transportation and storage	$	32		$	27		$	30
Interstate transportation and storage	197			196			182
Midstream	(19		)	10			1
Liquids transportation and services	(2		)	(3		)	(2		)
Investment in Sunoco Logistics	21			23			18
Retail marketing	194			2			2
All other	46			77			5
Total equity in earnings of unconsolidated affiliates	$	469		$	332		$	236

	Years Ended December 31,
	2015			2014			2013
Segment Adjusted EBITDA:
Intrastate transportation and storage	$	543		$	559		$	521
Interstate transportation and storage	1,155			1,212			1,368
Midstream	1,250			1,318			757
Liquids transportation and services	731			591			350
Investment in Sunoco Logistics	1,153			971			871
Retail marketing	583			731			325
All other	299			328			212
Total Segment Adjusted EBITDA	5,714			5,710			4,404
Depreciation, depletion and amortization	(1,929		)	(1,669		)	(1,296		)
Interest expense, net of interest capitalized	(1,291		)	(1,165		)	(1,013		)
Gain on sale of AmeriGas common units	—			177			87
Impairment losses	(339		)	(370		)	(689		)
Gains (losses) on interest rate derivatives	(18		)	(157		)	44
Non-cash unit-based compensation expense	(79		)	(68		)	(54		)
Unrealized gains (losses) on commodity risk management activities	(65		)	112			42
Inventory valuation adjustments	(104		)	(473		)	3
Losses on extinguishments of debt	(43		)	(25		)	(7		)
Non-operating environmental remediation	—			—			(168		)
Adjusted EBITDA related to discontinued operations	—			(27		)	(76		)
Adjusted EBITDA related to unconsolidated affiliates	(937		)	(748		)	(722		)
Equity in earnings of unconsolidated affiliates	469			332			236
Other, net	20			(36		)	19
Income from continuing operations before income tax expense	$	1,398		$	1,593		$	810

	December 31,
	2015		2014		2013
Assets:
Intrastate transportation and storage	$	4,882	$	4,983	$	5,048
Interstate transportation and storage	11,345		10,779		11,537
Midstream	17,111		15,562		7,847
Liquids transportation and services	7,235		4,568		4,321
Investment in Sunoco Logistics	15,423		13,619		11,650
Retail marketing	3,218		8,917		3,936
All other	5,959		4,090		5,561
Total assets	$	65,173	$	62,518	$	49,900

	Years Ended December 31,
	2015		2014		2013
Additions to property, plant and equipment excluding acquisitions, net of contributions in aid of construction costs (accrual basis):
Intrastate transportation and storage	$	105	$	169	$	47
Interstate transportation and storage	860		411		152
Midstream	2,172		1,298		1,114
Liquids transportation and services	2,109		427		448
Investment in Sunoco Logistics	2,126		2,510		1,018
Retail marketing	412		259		176
All other	383		420		372
Total additions to property, plant and equipment excluding acquisitions, net of contributions in aid of construction costs (accrual basis)	$	8,167	$	5,494	$	3,327

	December 31,
	2015		2014		2013
Advances to and investments in unconsolidated affiliates:
Intrastate transportation and storage	$	406	$	423	$	443
Interstate transportation and storage	2,516		2,649		2,588
Midstream	117		138		36
Liquids transportation and services	32		31		29
Investment in Sunoco Logistics	247		226		125
Retail marketing	1,541		19		22
All other	144		274		807
Total advances to and investments in unconsolidated affiliates	$	5,003	$	3,760	$	4,050