Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2013

Intangible Assets and Goodwill [Abstract]

Note 8. Intangible Assets and Goodwill

The following table summarizes our intangible assets by business segment at the dates indicated:

	September 30, 2013							December 31, 2012
	Gross Value		Accumulated Amortization			Carrying Value		Gross Value		Accumulated Amortization			Carrying Value
NGL Pipelines & Services:
Customer relationship intangibles	$	340.8	$	(161.3	)	$	179.5	$	340.8	$	(147.6	)	$	193.2
Contract-based intangibles		281.3		(166.9	)		114.4		284.6		(157.2	)		127.4
Segment total		622.1		(328.2	)		293.9		625.4		(304.8	)		320.6
Onshore Natural Gas Pipelines & Services:
Customer relationship intangibles		1,163.6		(273.8	)		889.8		1,163.6		(250.0	)		913.6
Contract-based intangibles		466.1		(326.0	)		140.1		466.1		(311.8	)		154.3
Segment total		1,629.7		(599.8	)		1,029.9		1,629.7		(561.8	)		1,067.9
Onshore Crude Oil Pipelines & Services:
Customer relationship intangibles		10.7		(5.9	)		4.8		10.7		(4.9	)		5.8
Contract-based intangibles		0.4		(0.3	)		0.1		0.4		(0.3	)		0.1
Segment total		11.1		(6.2	)		4.9		11.1		(5.2	)		5.9
Offshore Pipelines & Services:
Customer relationship intangibles		203.9		(147.3	)		56.6		203.9		(138.5	)		65.4
Contract-based intangibles		1.2		(0.4	)		0.8		1.2		(0.4	)		0.8
Segment total		205.1		(147.7	)		57.4		205.1		(138.9	)		66.2
Petrochemical & Refined Products Services:
Customer relationship intangibles		104.3		(37.1	)		67.2		104.3		(33.4	)		70.9
Contract-based intangibles		39.9		(5.6	)		34.3		41.2		(5.9	)		35.3
Segment total		144.2		(42.7	)		101.5		145.5		(39.3	)		106.2
Total all segments	$	2,612.2	$	(1,124.6	)	$	1,487.6	$	2,616.8	$	(1,050.0	)	$	1,566.8

The following table presents the amortization expense of our intangible assets by business segment for the periods indicated:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2013		2012		2013		2012
NGL Pipelines & Services	$	8.6	$	10.1	$	27.7	$	29.9
Onshore Natural Gas Pipelines & Services		13.3		16.8		38.0		48.4
Onshore Crude Oil Pipelines & Services		0.3		0.2		1.0		0.5
Offshore Pipelines & Services		2.9		3.1		8.8		8.3
Petrochemical & Refined Products Services		1.5		2.1		4.7		8.8
Total	$	26.6	$	32.3	$	80.2	$	95.9

The following table presents our forecast of amortization expense associated with existing intangible assets for the periods indicated:

Remainder of 2013				2014				2015				2016				2017
$	25.5			$	96.3			$	90.4			$	92.1			$	96.1

Goodwill

Goodwill represents the excess of the purchase price of an acquired business over the amounts assigned to assets acquired and liabilities assumed in the transaction. The following table presents changes in the carrying amount of goodwill during the nine months ended September 30, 2013:

	NGL Pipelines & Services		Onshore Natural Gas Pipelines & Services		Onshore Crude Oil Pipelines & Services			Offshore Pipelines & Services		Petrochemical & Refined Products Services			Consolidated Total
Balance at December 31, 2012 (1)	$	341.2	$	296.3	$	311.2		$	82.1	$	1,056.0		$	2,086.8
Goodwill related to the sale of assets		--		--		(6.1	)		--		(0.7	)		(6.8	)
Balance at September 30, 2013 (1)	$	341.2	$	296.3	$	305.1		$	82.1	$	1,055.3		$	2,080.0

(1) The total carrying amount of goodwill at September 30, 2013 and December 31, 2012 is net of $1.3 million of accumulated impairment charges. No goodwill impairment charges were recorded during the nine months ended September 30, 2013.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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