Investments in Unconsolidated Affiliates

6 Months Ended

Jun. 30, 2017

Investments in Unconsolidated Affiliates [Abstract]

Investments in Unconsolidated Affiliates

Note 5.  Investments in Unconsolidated Affiliates

The following table presents our investments in unconsolidated affiliates by business segment at the dates indicated.  We account for these investments using the equity method.

	Ownership Interest at June 30, 2017	June 30, 2017		December 31, 2016
NGL Pipelines & Services:
Venice Energy Service Company, L.L.C.	13.1%	$	25.9	$	24.8
K/D/S Promix, L.L.C.	50%		32.2		33.7
Baton Rouge Fractionators LLC	32.2%		17.6		17.3
Skelly-Belvieu Pipeline Company, L.L.C.	50%		37.1		38.9
Texas Express Pipeline LLC	35%		327.8		331.9
Texas Express Gathering LLC	45%		36.5		35.8
Front Range Pipeline LLC	33.3%		166.5		165.4
Delaware Basin Gas Processing LLC	50%		108.2		102.6
Crude Oil Pipelines & Services:
Seaway Crude Pipeline Company LLC	50%		1,380.5		1,393.8
Eagle Ford Pipeline LLC	50%		379.1		377.9
Eagle Ford Terminals Corpus Christi LLC	50%		63.2		52.9
Natural Gas Pipelines & Services:
White River Hub, LLC	50%		21.3		21.7
Petrochemical & Refined Products Services:
Centennial Pipeline LLC	50%		60.7		62.3
Other	Various		4.7		18.3
Total investments in unconsolidated affiliates		$	2,661.3	$	2,677.3

The following table presents our equity in income (loss) of unconsolidated affiliates by business segment for the periods indicated:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2017			2016			2017			2016
NGL Pipelines & Services	$	19.0		$	14.0		$	34.5		$	29.1
Crude Oil Pipelines & Services		89.2			65.8			170.4			155.9
Natural Gas Pipelines & Services		0.9			0.9			1.9			1.9
Petrochemical & Refined Products Services		(2.1	)		(4.3	)		(5.0	)		(9.4	)
Total	$	107.0		$	76.4		$	201.8		$	177.5

Excess Cost

On occasion, the price we pay to acquire an ownership interest in a company exceeds the underlying carrying value of the capital accounts we acquire.  These excess cost amounts are attributable to the fair value of the underlying tangible assets of these entities exceeding their respective book carrying values at the time of our acquisition of ownership interests in these entities.  We amortize such excess cost amounts as a reduction to equity earnings in a manner similar to depreciation.

The following table presents our unamortized excess cost amounts by business segment at the dates indicated:

	June 30, 2017		December 31, 2016
NGL Pipelines & Services	$	23.5	$	24.1
Crude Oil Pipelines & Services		18.6		19.0
Petrochemical & Refined Products Services		1.9		2.1
Total	$	44.0	$	45.2

Amortization of excess cost amounts were $0.5 million and $0.6 million for the three months ended June 30, 2017 and 2016, respectively.  For the six months ended June 30, 2017 and 2016, amortization of excess costs amounts were $1.0 million and $1.1 million, respectively.

Summarized Combined Financial Information of Unconsolidated Affiliates

Combined results of operations data for the periods indicated for our unconsolidated affiliates are summarized in the following table (all data presented on a 100% basis):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2017		2016		2017		2016
Income Statement Data:
Revenues	$	371.9	$	317.5	$	715.1	$	663.0
Operating income		229.8		181.7		433.5		395.4
Net income		237.6		178.3		440.5		393.5