Business Combinations (Tables)

12 Months Ended

Dec. 31, 2017

Allocation of Total Purchase Prices Paid in Connection with Business Combinations

The following table presents the final fair value allocation of assets acquired and liabilities assumed in the Azure acquisition at April 30, 2017.

Assets acquired in business combination:
Current assets	$	3.1
Property, plant and equipment		193.1
Total assets acquired		196.2
Liabilities assumed in business combination:
Current liabilities		1.4
Long-term liabilities		3.4
Total liabilities assumed		4.8
Cash used for Azure acquisition	$	191.4

Unaudited Pro Forma Earnings Information

Since the effective date of the EFS Midstream acquisition was July 1, 2015, our Statements of Consolidated Operations do not reflect any earnings from this business prior to this date. Our consolidated revenues and net income for the last six months ended December 31, 2015 include $117.8 million and $59.9 million, respectively, from EFS Midstream. The following table presents selected unaudited pro forma earnings information for the year ended December 31, 2015 as if the acquisition had been completed on January 1, 2015. This pro forma information was prepared using historical financial data for EFS Midstream and reflects certain estimates and assumptions made by our management. Our unaudited pro forma financial information is not necessarily indicative of what our consolidated financial results would have been for the year ended December 31, 2015 had we acquired EFS Midstream on January 1, 2015.

Pro forma earnings data:
Revenues	$	27,148.5
Costs and expenses		23,937.1
Operating income		3,585.0
Net income		2,594.4
Net income attributable to noncontrolling interests		37.2
Net income attributable to limited partners		2,557.2

Basic earnings per unit:
As reported basic earnings per unit	$	1.28
Pro forma basic earnings per unit	$	1.30
Diluted earnings per unit:
As reported diluted earnings per unit	$	1.26
Pro forma diluted earnings per unit	$	1.28