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Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2014
Intangible Assets and Goodwill [Abstract]  
Intangible Assets by Segment
The following table summarizes our intangible assets by business segment at the dates indicated:

 
 
December 31, 2014
  
December 31, 2013
 
 
 
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
  
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
 
NGL Pipelines & Services:
 
  
  
  
  
  
 
Customer relationship intangibles
 
$
340.8
  
$
(183.2
)
 
$
157.6
  
$
340.8
  
$
(165.7
)
 
$
175.1
 
Contract-based intangibles
  
277.7
   
(178.7
)
  
99.0
   
281.3
   
(171.2
)
  
110.1
 
Incentive distribution rights
  
432.6
   
--
   
432.6
   
--
   
--
   
--
 
Segment total
  
1,051.1
   
(361.9
)
  
689.2
   
622.1
   
(336.9
)
  
285.2
 
Onshore Natural Gas Pipelines & Services:
                        
Customer relationship intangibles
  
1,163.6
   
(308.9
)
  
854.7
   
1,163.6
   
(281.2
)
  
882.4
 
Contract-based intangibles
  
466.0
   
(347.8
)
  
118.2
   
466.1
   
(330.7
)
  
135.4
 
Segment total
  
1,629.6
   
(656.7
)
  
972.9
   
1,629.7
   
(611.9
)
  
1,017.8
 
Onshore Crude Oil Pipelines & Services:
                        
Customer relationship intangibles
  
1,108.0
   
(7.7
)
  
1,100.3
   
10.7
   
(6.3
)
  
4.4
 
Contract-based intangibles
  
281.4
   
(13.5
)
  
267.9
   
0.4
   
(0.3
)
  
0.1
 
Incentive distribution rights
  
855.4
   
--
   
855.4
   
--
   
--
   
--
 
Segment total
  
2,244.8
   
(21.2
)
  
2,223.6
   
11.1
   
(6.6
)
  
4.5
 
Offshore Pipelines & Services:
                        
Customer relationship intangibles
  
195.8
   
(154.9
)
  
40.9
   
203.9
   
(150.0
)
  
53.9
 
Contract-based intangibles
  
1.2
   
(0.5
)
  
0.7
   
1.2
   
(0.4
)
  
0.8
 
Segment total
  
197.0
   
(155.4
)
  
41.6
   
205.1
   
(150.4
)
  
54.7
 
Petrochemical & Refined Products Services:
                        
Customer relationship intangibles
  
198.4
   
(43.3
)
  
155.1
   
104.3
   
(38.2
)
  
66.1
 
Contract-based intangibles
  
56.3
   
(7.8
)
  
48.5
   
39.9
   
(6.0
)
  
33.9
 
Incentive distribution rights
  
171.2
   
--
   
171.2
   
--
   
--
   
--
 
Segment total
  
425.9
   
(51.1
)
  
374.8
   
144.2
   
(44.2
)
  
100.0
 
Total all segments
 
$
5,548.4
  
$
(1,246.3
)
 
$
4,302.1
  
$
2,612.2
  
$
(1,150.0
)
 
$
1,462.2
 
Amortization Expense of Intangible Assets by Segment
The following table presents the amortization expense of our intangible assets by business segment for the periods indicated:

 
 
For the Year Ended December 31,
 
 
 
2014
  
2013
  
2012
 
NGL Pipelines & Services
 
$
33.1
  
$
36.4
  
$
39.7
 
Onshore Natural Gas Pipelines & Services
  
45.0
   
50.1
   
63.4
 
Onshore Crude Oil Pipelines & Services
  
15.7
   
1.4
   
0.9
 
Offshore Pipelines & Services
  
9.9
   
11.5
   
11.3
 
Petrochemical & Refined Products Services
  
6.9
   
6.2
   
10.4
 
Total
 
$
110.6
  
$
105.6
  
$
125.7
 
Forecasted Amortization Expense
The following table presents our forecast of amortization expense associated with existing intangible assets for the years indicated:

2015
 
2016
 
2017
 
2018
 
2019
$
150.5
 
$
152.3
 
$
149.3
 
$
142.7
 
$
131.3
Significant Acquired Intangible Assets
§
Oiltanking customer relationships – We recorded customer relationship intangible assets in connection with the Oiltanking acquisition in October 2014 (see Note 10).  The carrying values of these intangible assets at December 31, 2014 are presented in the following table:
 
 
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
 
Onshore Crude Oil Pipelines & Services:
      
Oiltanking customer relationships
 
$
1,098.4
  
$
(1.4
)
 
$
1,097.0
 
Petrochemical & Refined Products Services:
            
Oiltanking customer relationships
  
94.1
   
--
   
94.1
 
Total
 
$
1,192.5
  
$
(1.4
)
 
$
1,191.1
 

§
State Line and Fairplay customer relationships – We acquired these customer relationships in connection with our acquisition of the State Line and Fairplay natural gas gathering systems in May 2010.  The carrying values of these intangible assets at December 31, 2014 are presented in the following table:
 
 
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
 
NGL Pipelines & Services:
      
Fairplay natural gas processing customer relationships
 
$
103.4
  
$
(27.2
)
 
$
76.2
 
Onshore Natural Gas Pipelines & Services:
            
State Line natural gas gathering customer relationships
  
675.0
   
(68.7
)
  
606.3
 
Fairplay natural gas gathering customer relationships
  
116.6
   
(30.7
)
  
85.9
 
Total
 
$
895.0
  
$
(126.6
)
 
$
768.4
 

§
Oiltanking customer contracts – We recorded customer contract intangible assets in connection with the Oiltanking acquisition in October 2014 (see Note 10).  The carrying values of these intangible assets at December 31, 2014 are presented in the following table:
 
 
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
 
Onshore Crude Oil Pipelines & Services:
      
Oiltanking customer contracts
 
$
281.0
  
$
(13.2
)
 
$
267.8
 
Petrochemical & Refined Products Services:
            
Oiltanking customer contracts
  
16.4
   
(0.7
)
  
15.7
 
Total
 
$
297.4
  
$
(13.9
)
 
$
283.5
 
Changes in Carrying Amount of 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.  Goodwill is not amortized; however, it is subject to annual impairment testing at the end of each fiscal year, and more frequently, if circumstances indicate it is probable that the fair value of goodwill is below its carrying amount.  The following table presents changes in the carrying amount of goodwill during the periods indicated:

 
 
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, 2011
 
$
341.2
  
$
296.3
  
$
311.2
  
$
82.1
  
$
1,061.5
  
$
2,092.3
 
Reclassification to assets held for sale
  
--
   
--
   
--
   
--
   
(5.5
)
  
(5.5
)
Balance at December 31, 2012
  
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 December 31, 2013
  
341.2
   
296.3
   
305.1
   
82.1
   
1,055.3
   
2,080.0
 
Reclassification of goodwill
  
520.0
   
--
   
--
   
--
   
(520.0
)
  
--
 
Goodwill related to the sale of assets
  
--
   
--
   
--
   
(0.1
)
  
--
   
(0.1
)
Goodwill related to Oiltanking acquisition
  
1,319.2
   
--
   
554.8
   
--
   
246.0
   
2,120.0
 
Balance at December 31, 2014
 
$
2,180.4
  
$
296.3
  
$
859.9
  
$
82.0
  
$
781.3
  
$
4,199.9