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Business Segments (Tables)
 9 Months Ended
Sep. 30, 2016
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,
 
 
 
2016
  
2015
  
2016
  
2015
 
Revenues
 
$
5,920.4
  
$
6,307.9
  
$
16,543.5
  
$
20,872.9
 
Subtract operating costs and expenses
  
(5,065.7
)
  
(5,452.6
)
  
(14,034.8
)
  
(18,426.5
)
Add equity in income of unconsolidated affiliates
  
92.3
   
103.1
   
269.8
   
302.5
 
Add depreciation, amortization and accretion expense amounts not reflected in gross operating margin
  
367.1
   
351.1
   
1,085.6
   
1,082.0
 
Add asset impairment charges not reflected in gross operating margin
  
6.8
   
26.8
   
21.6
   
139.1
 
Add net losses or subtract net gains attributable to asset sales, insurance recoveries and related property damage not reflected in gross operating margin
  
(8.9
)
  
12.3
   
4.8
   
14.7
 
Add non-refundable payments attributable to shipper make-up rights on new pipeline projects reflected in gross operating margin
  
1.2
   
3.4
   
10.1
   
39.3
 
Subtract subsequent revenue recognition of deferred revenues attributable to make-up rights not reflected in gross operating margin
  
(5.6
)
  
(10.9
)
  
(25.1
)
  
(45.3
)
Total segment gross operating margin
 
$
1,307.6
  
$
1,341.1
  
$
3,875.5
  
$
3,978.7
 
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 GAAP 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,
 
 
 
2016
  
2015
  
2016
  
2015
 
Total segment gross operating margin
 
$
1,307.6
  
$
1,341.1
  
$
3,875.5
  
$
3,978.7
 
Adjustments to reconcile total segment gross operating margin to operating income:
                
Subtract depreciation, amortization and accretion expense amounts not reflected in gross operating margin
  
(367.1
)
  
(351.1
)
  
(1,085.6
)
  
(1,082.0
)
Subtract asset impairment charges not reflected in gross operating margin
  
(6.8
)
  
(26.8
)
  
(21.6
)
  
(139.1
)
Add net gains or subtract net losses attributable to asset sales, insurance recoveries and related property damage not reflected in gross operating margin
  
8.9
   
(12.3
)
  
(4.8
)
  
(14.7
)
Subtract non-refundable payments attributable to shipper make-up rights on new pipeline projects reflected in gross operating margin
  
(1.2
)
  
(3.4
)
  
(10.1
)
  
(39.3
)
Add subsequent revenue recognition of deferred revenues attributable to make-up rights not reflected in gross operating margin
  
5.6
   
10.9
   
25.1
   
45.3
 
Subtract general and administrative costs not reflected in gross operating margin
  
(42.0
)
  
(49.0
)
  
(121.0
)
  
(143.2
)
Operating income
  
905.0
   
909.4
   
2,657.5
   
2,605.7
 
Other expense, net
  
(257.1
)
  
(246.2
)
  
(761.1
)
  
(736.4
)
Income before income taxes
 
$
647.9
  
$
663.2
  
$
1,896.4
  
$
1,869.3
 
Information by Business Segments
Information by business segment, together with reconciliations to our consolidated financial statement totals, is presented in the following table:

 
 
Business Segments
       
 
 
NGL
Pipelines
& Services
  
Crude Oil
Pipelines
& Services
  
Natural Gas
Pipelines
& Services
  
Petrochemical
& Refined Products Services
  
Offshore
Pipelines
& Services
  
Adjustments
and
Eliminations
  
Consolidated
Total
 
Revenues from third parties:
                     
Three months ended September 30, 2016
 
$
2,414.2
  
$
1,712.9
  
$
711.3
  
$
1,066.3
  
$
--
  
$
--
  
$
5,904.7
 
Three months ended September 30, 2015
  
2,284.6
   
2,316.4
   
705.2
   
980.0
   
7.8
   
--
   
6,294.0
 
Nine months ended September 30, 2016
  
7,328.9
   
4,641.8
   
1,792.5
   
2,735.8
   
--
   
--
   
16,499.0
 
Nine months ended September 30, 2015
  
7,223.2
   
8,080.4
   
2,117.5
   
3,347.6
   
76.9
   
--
   
20,845.6
 
Revenues from related parties:
                            
Three months ended September 30, 2016
  
2.7
   
10.1
   
2.9
   
--
   
--
   
--
   
15.7
 
Three months ended September 30, 2015
  
2.2
   
6.2
   
4.5
   
--
   
1.0
   
--
   
13.9
 
Nine months ended September 30, 2016
  
7.3
   
29.8
   
7.4
   
--
   
--
   
--
   
44.5
 
Nine months ended September 30, 2015
  
6.0
   
8.6
   
10.8
   
--
   
1.9
   
--
   
27.3
 
Intersegment and intrasegment revenues:
                            
Three months ended September 30, 2016
  
4,772.4
   
2,445.2
   
201.2
   
315.4
   
--
   
(7,734.2
)
  
--
 
Three months ended September 30, 2015
  
2,461.0
   
1,142.1
   
180.2
   
267.3
   
0.1
   
(4,050.7
)
  
--
 
Nine months ended September 30, 2016
  
12,828.0
   
6,390.3
   
472.8
   
865.8
   
--
   
(20,556.9
)
  
--
 
Nine months ended September 30, 2015
  
7,685.1
   
3,958.9
   
519.7
   
875.8
   
0.6
   
(13,040.1
)
  
--
 
Total revenues:
                            
Three months ended September 30, 2016
  
7,189.3
   
4,168.2
   
915.4
   
1,381.7
   
--
   
(7,734.2
)
  
5,920.4
 
Three months ended September 30, 2015
  
4,747.8
   
3,464.7
   
889.9
   
1,247.3
   
8.9
   
(4,050.7
)
  
6,307.9
 
Nine months ended September 30, 2016
  
20,164.2
   
11,061.9
   
2,272.7
   
3,601.6
   
--
   
(20,556.9
)
  
16,543.5
 
Nine months ended September 30, 2015
  
14,914.3
   
12,047.9
   
2,648.0
   
4,223.4
   
79.4
   
(13,040.1
)
  
20,872.9
 
Equity in income (loss) of unconsolidated affiliates:
                            
Three months ended September 30, 2016
  
15.9
   
78.4
   
1.0
   
(3.0
)
  
--
   
--
   
92.3
 
Three months ended September 30, 2015
  
18.9
   
81.2
   
0.9
   
(3.3
)
  
5.4
   
--
   
103.1
 
Nine months ended September 30, 2016
  
45.0
   
234.3
   
2.9
   
(12.4
)
  
--
   
--
   
269.8
 
Nine months ended September 30, 2015
  
43.0
   
220.5
   
2.8
   
(10.4
)
  
46.6
   
--
   
302.5
 
Gross operating margin:
                            
Three months ended September 30, 2016
  
703.5
   
254.0
   
178.5
   
171.6
   
--
   
--
   
1,307.6
 
Three months ended September 30, 2015
  
695.5
   
254.6
   
192.4
   
191.5
   
7.1
   
--
   
1,341.1
 
Nine months ended September 30, 2016
  
2,206.3
   
633.7
   
533.6
   
501.9
   
--
   
--
   
3,875.5
 
Nine months ended September 30, 2015
  
2,041.3
   
704.2
   
588.3
   
547.4
   
97.5
   
--
   
3,978.7
 
Property, plant and equipment, net:
(see Note 4)
                            
At September 30, 2016
  
14,040.1
   
4,074.1
   
8,473.7
   
3,255.1
   
--
   
3,276.4
   
33,119.4
 
At December 31, 2015
  
12,909.7
   
3,550.3
   
8,620.0
   
3,060.7
   
--
   
3,894.0
   
32,034.7
 
Investments in unconsolidated affiliates:
(see Note 5)
                            
At September 30, 2016
  
747.5
   
1,838.7
   
22.0
   
79.0
   
--
   
--
   
2,687.2
 
At December 31, 2015
  
718.7
   
1,813.4
   
22.5
   
73.9
   
--
   
--
   
2,628.5
 
Intangible assets, net: (see Note 6)
                            
At September 30, 2016
  
357.7
   
2,301.9
   
1,062.7
   
184.9
   
--
   
--
   
3,907.2
 
At December 31, 2015
  
380.3
   
2,377.5
   
1,087.7
   
191.7
   
--
   
--
   
4,037.2
 
Goodwill: (see Note 6)
                            
At September 30, 2016
  
2,651.7
   
1,841.0
   
296.3
   
956.2
   
--
   
--
   
5,745.2
 
At December 31, 2015
  
2,651.7
   
1,841.0
   
296.3
   
956.2
   
--
   
--
   
5,745.2
 
Segment assets:
                            
At September 30, 2016
  
17,797.0
   
10,055.7
   
9,854.7
   
4,475.2
   
--
   
3,276.4
   
45,459.0
 
At December 31, 2015
  
16,660.4
   
9,582.2
   
10,026.5
   
4,282.5
   
--
   
3,894.0
   
44,445.6
 
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,
 
 
 
2016
  
2015
  
2016
  
2015
 
NGL Pipelines & Services:
            
Sales of NGLs and related products
 
$
1,959.0
  
$
1,844.9
  
$
5,962.9
  
$
5,936.2
 
Midstream services
  
457.9
   
441.9
   
1,373.3
   
1,293.0
 
Total
  
2,416.9
   
2,286.8
   
7,336.2
   
7,229.2
 
Crude Oil Pipelines & Services:
                
Sales of crude oil
  
1,538.5
   
2,147.3
   
4,141.8
   
7,689.3
 
Midstream services
  
184.5
   
175.3
   
529.8
   
399.7
 
Total
  
1,723.0
   
2,322.6
   
4,671.6
   
8,089.0
 
Natural Gas Pipelines & Services:
                
Sales of natural gas
  
483.7
   
455.0
   
1,104.4
   
1,361.2
 
Midstream services
  
230.5
   
254.7
   
695.5
   
767.1
 
Total
  
714.2
   
709.7
   
1,799.9
   
2,128.3
 
Petrochemical & Refined Products Services:
                
Sales of petrochemicals and refined products
  
871.3
   
780.5
   
2,137.9
   
2,764.2
 
Midstream services
  
195.0
   
199.5
   
597.9
   
583.4
 
Total
  
1,066.3
   
980.0
   
2,735.8
   
3,347.6
 
Offshore Pipelines & Services:
                
Sales of crude oil
  
--
   
0.4
   
--
   
3.2
 
Midstream services
  
--
   
8.4
   
--
   
75.6
 
Total
  
--
   
8.8
   
--
   
78.8
 
Total consolidated revenues
 
$
5,920.4
  
$
6,307.9
  
$
16,543.5
  
$
20,872.9
 
 
                
Consolidated costs and expenses
                
Operating costs and expenses:
                
Cost of sales
 
$
4,088.6
  
$
4,419.9
  
$
11,135.6
  
$
15,355.9
 
Other operating costs and expenses (1)
  
612.1
   
642.5
   
1,787.2
   
1,834.8
 
Depreciation, amortization and accretion
  
367.1
   
351.1
   
1,085.6
   
1,082.0
 
Asset impairment charges
  
6.8
   
26.8
   
21.6
   
139.1
 
Loss due to Pascagoula fire
  
--
   
--
   
7.1
   
--
 
Net losses (gains) attributable to asset sales
  
(8.9
)
  
12.3
   
(2.3
)
  
14.7
 
General and administrative costs
  
42.0
   
49.0
   
121.0
   
143.2
 
Total consolidated costs and expenses
 
$
5,107.7
  
$
5,501.6
  
$
14,155.8
  
$
18,569.7
 
  
(1)Represents the cost of operating our plants, pipelines and other fixed assets excluding: depreciation, amortization and accretion charges; asset impairment charges; losses due to property damage events (e.g., the fire at our Pascagoula Facility (see Note 4)); and net losses (or gains) attributable to asset sales.