Business Segments (Tables)

3 Months Ended

Mar. 31, 2013

Business Segments [Abstract]

Measurement of Total Segment Gross Operating Margin

The following table presents our measurement of total segment gross operating margin for the periods indicated:

	For the Three Months Ended March 31,
	2013			2012
Revenues	$	11,383.1		$	11,252.5
Less:    Operating costs and expenses		(10,420.4	)		(10,467.2	)
Add:     Equity in income of unconsolidated affiliates		44.5			9.9
Depreciation, amortization and accretion recorded in operating costs and expenses		276.8			254.6
Non-cash asset impairment charges recorded in operating costs and expenses		11.0			5.4
Gains attributable to asset sales and insurance recoveries recorded in    operating costs and expenses		(63.9	)		(2.5	)
Total segment gross operating margin	$	1,231.1		$	1,052.7

Reconciliation of Total Segment Gross Operating Margin to Operating Income and Income Before Provision for Income Taxes

The following table presents a reconciliation of total segment gross operating margin to operating income and further to income before income taxes for the periods indicated:

	For the Three Months Ended March 31,
	2013			2012
Total segment gross operating margin	$	1,231.1		$	1,052.7
Adjustments to reconcile total segment gross operating margin to operating income:
Amounts included in operating costs and expenses:
Depreciation, amortization and accretion		(276.8	)		(254.6	)
Non-cash asset impairment charges		(11.0	)		(5.4	)
Gains attributable to asset sales and insurance recoveries		63.9			2.5
General and administrative costs		(49.5	)		(46.3	)
Operating income		957.7			748.9
Other expense, net		(196.0	)		(127.8	)
Income before income taxes	$	761.7		$	621.1

Information by Business Segments

Information by business segment, together with reconciliations to our consolidated financial statement totals, is presented in the following table:

	Reportable Business Segments
			Onshore		Onshore				Petrochemical
	NGL		Natural Gas		Crude Oil		Offshore		& Refined					Adjustments
	Pipelines		Pipelines		Pipelines		Pipelines		Products			Other		and			Consolidated
	& Services		& Services		& Services		& Services		Services			Investments		Eliminations			Totals
Revenues from third parties:
Three months ended March 31, 2013	$	3,950.7	$	874.2	$	4,793.2	$	40.5	$	1,718.6		$	--	$	--		$	11,377.2
Three months ended March 31, 2012		4,354.1		804.9		4,473.6		54.4		1,534.7			--		--			11,221.7
Revenues from related parties:
Three months ended March 31, 2013		0.3		3.5		--		2.1		--			--		--			5.9
Three months ended March 31, 2012		0.4		28.7		--		1.7		--			--		--			30.8
Intersegment and intrasegment    revenues:
Three months ended March 31, 2013		2,709.0		256.2		2,024.7		2.0		422.1			--		(5,414.0	)		--
Three months ended March 31, 2012		2,818.2		223.7		1,730.9		3.3		439.9			--		(5,216.0	)		--
Total revenues:
Three months ended March 31, 2013		6,660.0		1,133.9		6,817.9		44.6		2,140.7			--		(5,414.0	)		11,383.1
Three months ended March 31, 2012		7,172.7		1,057.3		6,204.5		59.4		1,974.6			--		(5,216.0	)		11,252.5
Equity in income (loss) of    unconsolidated affiliates:
Three months ended March 31, 2013		3.9		1.0		36.6		6.4		(3.4	)		--		--			44.5
Three months ended March 31, 2012		5.2		1.4		0.5		6.9		(6.5	)		2.4		--			9.9
Gross operating margin:
Three months ended March 31, 2013		592.5		190.8		236.4		40.5		170.9			--		--			1,231.1
Three months ended March 31, 2012		654.9		206.2		39.3		52.1		97.8			2.4		--			1,052.7
Property, plant and equipment, net: (see Note 6)
At March 31, 2013		9,059.1		8,942.0		1,359.0		1,323.5		2,548.4			--		1,990.5			25,222.5
At December 31, 2012		8,494.8		8,950.1		1,385.9		1,343.0		2,559.5			--		2,113.1			24,846.4
Investments in unconsolidated    affiliates: (see Note 7)
At March 31, 2013		412.1		24.6		660.3		509.0		73.0			--		--			1,679.0
At December 31, 2012		324.6		24.9		493.8		479.0		72.3			--		--			1,394.6
Intangible assets, net: (see Note 8)
At March 31, 2013		311.0		1,055.5		5.6		63.1		104.6			--		--			1,539.8
At December 31, 2012		320.6		1,067.9		5.9		66.2		106.2			--		--			1,566.8
Goodwill: (see Note 8)
At March 31, 2013		341.2		296.3		311.2		82.1		1,055.3			--		--			2,086.1
At December 31, 2012		341.2		296.3		311.2		82.1		1,056.0			--		--			2,086.8
Segment assets:
At March 31, 2013		10,123.4		10,318.4		2,336.1		1,977.7		3,781.3			--		1,990.5			30,527.4
At December 31, 2012		9,481.2		10,339.2		2,196.8		1,970.3		3,794.0			--		2,113.1			29,894.6

Consolidated Revenues and Expenses

The following table presents additional information regarding our consolidated revenues and costs and expenses for the periods indicated:

	For the Three Months Ended March 31,
	2013			2012
NGL Pipelines & Services:
Sales of NGLs and related products	$	3,665.6		$	4,115.3
Midstream services		285.4			239.2
Total		3,951.0			4,354.5
Onshore Natural Gas Pipelines & Services:
Sales of natural gas		639.5			572.6
Midstream services		238.2			261.0
Total		877.7			833.6
Onshore Crude Oil Pipelines & Services:
Sales of crude oil		4,742.8			4,447.6
Midstream services		50.4			26.0
Total		4,793.2			4,473.6
Offshore Pipelines & Services:
Sales of natural gas		0.1			0.1
Sales of crude oil		2.3			1.4
Midstream services		40.2			54.6
Total		42.6			56.1
Petrochemical & Refined Products Services:
Sales of petrochemicals and refined products		1,547.2			1,351.2
Midstream services		171.4			183.5
Total		1,718.6			1,534.7
Total consolidated revenues	$	11,383.1		$	11,252.5
Consolidated costs and expenses
Operating costs and expenses:
Cost of sales	$	9,692.5		$	9,665.8
Other operating costs and expenses (1)		504.0			543.9
Depreciation, amortization and accretion		276.8			254.6
Gains attributable to asset sales and insurance recoveries		(63.9	)		(2.5	)
Non-cash asset impairment charges		11.0			5.4
General and administrative costs		49.5			46.3
Total consolidated costs and expenses	$	10,469.9		$	10,513.5
(1)   Represents cost of operating our plants, pipelines and other fixed assets, excluding depreciation, amortization and accretion charges.