Equity Method Investments

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

During the periods ended September 30, 2020 and December 31, 2019 our equity method investees were considered related parties and included:

•EGHoldings, in which we have a 60% noncontrolling interest. EGHoldings is engaged in LNG production activity.

•Alba Plant LLC, in which we have a 52% noncontrolling interest. Alba Plant LLC processes LPG.

•AMPCO, in which we have a 45% noncontrolling interest. AMPCO is engaged in methanol production activity.

Our equity method investments are summarized in the following table:


(In millions)	Ownership as of September 30, 2020	September 30, 2020		December 31, 2019
EGHoldings	60%	$	119	$	310
Alba Plant LLC	52%	179		163
AMPCO	45%	169		190
Total		$	467	$	663

During the nine months ended September 30, 2020, we recorded impairments of $170 million to an investment in an equity method investee, which was reflected in income (loss) from equity method investments in our consolidated statements of income. See Note 11 to the consolidated financial statements for further information on the equity method investee impairment.

Summarized financial information for equity method investees is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2020		2019		2020		2019
Income data:
Revenues and other income	$	140	$	184	$	423	$	637
Income (loss) from operations	19		61		(21)		192
Net income (loss)	12		45		(27)		140

Revenues from related parties were $9 million and $29 million, respectively, for the three and nine months ended September 30, 2020 and $11 million and $32 million, respectively, for the three and nine months ended September 30, 2019 with the majority related to EGHoldings in all periods.

Current receivables from related parties at September 30, 2020 were $28 million with the majority related to EGHoldings and $28 million at December 31, 2019 with the majority related EGHoldings and Alba Plant LLC. Payables to related parties at September 30, 2020 and December 31, 2019 were $13 million and $11 million, respectively, with the majority related to Alba Plant LLC in both periods.