Business Segments (Tables)

9 Months Ended

Sep. 30, 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 September 30,						For the Nine Months Ended September 30,
	2013			2012			2013			2012
Revenues	$	12,093.3		$	10,468.7		$	34,625.7		$	31,511.0
Less:    Operating costs and expenses		(11,273.5	)		(9,659.8	)		(32,061.1	)		(29,136.5	)
Add:     Equity in income of unconsolidated affiliates		44.0			21.0			126.1			42.2
Amounts included in operating costs and expenses:
Depreciation, amortization and accretion		285.2			269.2			851.7			785.1
Non-cash asset impairment charges		15.2			43.1			53.3			57.6
Gains attributable to asset sales and insurance recoveries		(10.2	)		(2.6	)		(68.4	)		(34.1	)
Total segment gross operating margin	$	1,154.0		$	1,139.6		$	3,527.3		$	3,225.3

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 September 30,						For the Nine Months Ended September 30,
	2013			2012			2013			2012
Total segment gross operating margin	$	1,154.0		$	1,139.6		$	3,527.3		$	3,225.3
Adjustments to reconcile total segment gross operating margin to operating income:
Amounts included in operating costs and expenses:
Depreciation, amortization and accretion		(285.2	)		(269.2	)		(851.7	)		(785.1	)
Non-cash asset impairment charges		(15.2	)		(43.1	)		(53.3	)		(57.6	)
Gains attributable to asset sales and insurance recoveries		10.2			2.6			68.4			34.1
General and administrative costs		(43.9	)		(41.4	)		(138.9	)		(130.2	)
Operating income		819.9			788.5			2,551.8			2,286.5
Other expense, net		(207.7	)		(198.2	)		(604.2	)		(499.4	)
Income before income taxes	$	612.2		$	590.3		$	1,947.6		$	1,787.1

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
	NGL Pipelines & Services		Onshore Natural Gas Pipelines & Services		Onshore Crude Oil Pipelines & Services		Offshore Pipelines & Services		Petrochemical & Refined Products Services			Other Investments		Adjustments and Eliminations			Consolidated Total
Revenues from third parties:
Three months ended September 30, 2013	$	4,230.6	$	831.4	$	5,435.4	$	38.2	$	1,550.0		$	--	$	--		$	12,085.6
Three months ended September 30, 2012		3,389.6		843.3		4,505.1		43.2		1,680.0			--		--			10,461.2
Nine months ended September 30, 2013		11,686.0		2,658.6		15,358.1		118.0		4,784.7			--		--			34,605.4
Nine months ended September 30, 2012		11,071.6		2,349.1		13,167.4		145.1		4,713.9			--		--			31,447.1
Revenues from related parties:
Three months ended September 30, 2013		0.1		4.1		2.1		1.4		--			--		--			7.7
Three months ended September 30, 2012		2.2		3.2		0.1		2.0		--			--		--			7.5
Nine months ended September 30, 2013		0.6		12.1		2.1		5.5		--			--		--			20.3
Nine months ended September 30, 2012		7.2		51.4		0.1		5.2		--			--		--			63.9
Intersegment and intrasegment revenues:
Three months ended September 30, 2013		2,542.3		215.6		3,591.3		1.8		384.4			--		(6,735.4	)		--
Three months ended September 30, 2012		2,301.6		211.4		1,509.2		--		478.8			--		(4,501.0	)		--
Nine months ended September 30, 2013		7,631.7		726.7		8,333.0		8.0		1,200.7			--		(17,900.1	)		--
Nine months ended September 30, 2012		7,396.3		614.1		4,975.6		5.0		1,357.4			--		(14,348.4	)		--
Total revenues:
Three months ended September 30, 2013		6,773.0		1,051.1		9,028.8		41.4		1,934.4			--		(6,735.4	)		12,093.3
Three months ended September 30, 2012		5,693.4		1,057.9		6,014.4		45.2		2,158.8			--		(4,501.0	)		10,468.7
Nine months ended September 30, 2013		19,318.3		3,397.4		23,693.2		131.5		5,985.4			--		(17,900.1	)		34,625.7
Nine months ended September 30, 2012		18,475.1		3,014.6		18,143.1		155.3		6,071.3			--		(14,348.4	)		31,511.0
Equity in income (loss) of unconsolidated affiliates:
Three months ended September 30, 2013		4.1		1.0		34.3		9.8		(5.2	)		--		--			44.0
Three months ended September 30, 2012		3.0		0.9		16.5		6.8		(6.2	)		--		--			21.0
Nine months ended September 30, 2013		11.8		2.9		101.0		24.9		(14.5	)		--		--			126.1
Nine months ended September 30, 2012		12.0		3.5		20.6		17.8		(14.1	)		2.4		--			42.2
Gross operating margin:
Three months ended September 30, 2013		639.6		213.4		146.0		37.9		117.1			--		--			1,154.0
Three months ended September 30, 2012		615.8		183.5		117.6		40.6		182.1			--		--			1,139.6
Nine months ended September 30, 2013		1,777.0		601.9		579.6		118.1		450.7			--		--			3,527.3
Nine months ended September 30, 2012		1,836.5		565.5		252.7		131.0		437.2			2.4		--			3,225.3
Property, plant and equipment, net: (see Note 6)
At September 30, 2013		9,529.0		8,892.5		1,455.0		1,244.5		2,627.1			--		2,705.8			26,453.9
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 September 30, 2013		607.2		24.3		889.6		540.4		73.0			--		--			2,134.5
At December 31, 2012		324.6		24.9		493.8		479.0		72.3			--		--			1,394.6
Intangible assets, net: (see Note 8)
At September 30, 2013		293.9		1,029.9		4.9		57.4		101.5			--		--			1,487.6
At December 31, 2012		320.6		1,067.9		5.9		66.2		106.2			--		--			1,566.8
Goodwill: (see Note 8)
At September 30, 2013		341.2		296.3		305.1		82.1		1,055.3			--		--			2,080.0
At December 31, 2012		341.2		296.3		311.2		82.1		1,056.0			--		--			2,086.8
Segment assets:
At September 30, 2013		10,771.3		10,243.0		2,654.6		1,924.4		3,856.9			--		2,705.8			32,156.0
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 September 30,						For the Nine Months Ended September 30,
	2013			2012			2013			2012
NGL Pipelines & Services:
Sales of NGLs and related products	$	3,929.8		$	3,151.9		$	10,831.3		$	10,401.1
Midstream asset services		300.9			239.9			855.3			677.7
Total		4,230.7			3,391.8			11,686.6			11,078.8
Onshore Natural Gas Pipelines & Services:
Sales of natural gas		590.7			608.2			1,954.1			1,691.6
Midstream asset services		244.8			238.3			716.6			708.9
Total		835.5			846.5			2,670.7			2,400.5
Onshore Crude Oil Pipelines & Services:
Sales of crude oil		5,359.7			4,471.8			15,159.9			13,093.4
Midstream asset services		77.8			33.4			200.3			74.1
Total		5,437.5			4,505.2			15,360.2			13,167.5
Offshore Pipelines & Services:
Sales of natural gas		0.1			0.2			0.3			0.3
Sales of crude oil		1.5			3.1			3.7			4.5
Midstream asset services		38.0			41.9			119.5			145.5
Total		39.6			45.2			123.5			150.3
Petrochemical & Refined Products Services:
Sales of petrochemicals and refined products		1,390.1			1,498.9			4,271.5			4,166.9
Midstream asset services		159.9			181.1			513.2			547.0
Total		1,550.0			1,680.0			4,784.7			4,713.9
Total consolidated revenues	$	12,093.3		$	10,468.7		$	34,625.7		$	31,511.0
Consolidated costs and expenses
Operating costs and expenses:
Cost of sales	$	10,371.3		$	8,794.0		$	29,522.1		$	26,655.0
Other operating costs and expenses (1)		612.0			556.1			1,702.4			1,672.9
Depreciation, amortization and accretion		285.2			269.2			851.7			785.1
Gains attributable to asset sales and    insurance recoveries		(10.2	)		(2.6	)		(68.4	)		(34.1	)
Non-cash asset impairment charges		15.2			43.1			53.3			57.6
General and administrative costs		43.9			41.4			138.9			130.2
Total consolidated costs and expenses	$	11,317.4		$	9,701.2		$	32,200.0		$	29,266.7
(1)   Represents cost of operating our plants, pipelines and other fixed assets, excluding depreciation, amortization and accretion charges.