XML 49 R35.htm IDEA: XBRL DOCUMENT v3.10.0.1
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2018
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, 2018
  
December 31, 2017
 
 
 
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
  
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
 
NGL Pipelines & Services:
                  
Customer relationship intangibles
 
$
457.3
  
$
(201.9
)
 
$
255.4
  
$
447.4
  
$
(187.5
)
 
$
259.9
 
Contract-based intangibles
  
363.4
   
(238.7
)
  
124.7
   
280.8
   
(218.4
)
  
62.4
 
Segment total
  
820.7
   
(440.6
)
  
380.1
   
728.2
   
(405.9
)
  
322.3
 
Crude Oil Pipelines & Services:
                        
Customer relationship intangibles
  
2,203.5
   
(174.1
)
  
2,029.4
   
2,203.5
   
(127.0
)
  
2,076.5
 
Contract-based intangibles
  
276.9
   
(211.7
)
  
65.2
   
281.0
   
(171.0
)
  
110.0
 
Segment total
  
2,480.4
   
(385.8
)
  
2,094.6
   
2,484.5
   
(298.0
)
  
2,186.5
 
Natural Gas Pipelines & Services:
                        
Customer relationship intangibles
  
1,350.3
   
(447.8
)
  
902.5
   
1,350.3
   
(417.1
)
  
933.2
 
Contract-based intangibles
  
464.7
   
(387.9
)
  
76.8
   
464.7
   
(379.5
)
  
85.2
 
Segment total
  
1,815.0
   
(835.7
)
  
979.3
   
1,815.0
   
(796.6
)
  
1,018.4
 
Petrochemical & Refined Products Services:
                        
Customer relationship intangibles
  
181.4
   
(51.8
)
  
129.6
   
181.4
   
(45.9
)
  
135.5
 
Contract-based intangibles
  
46.0
   
(21.2
)
  
24.8
   
46.0
   
(18.4
)
  
27.6
 
Segment total
  
227.4
   
(73.0
)
  
154.4
   
227.4
   
(64.3
)
  
163.1
 
Total intangible assets
 
$
5,343.5
  
$
(1,735.1
)
 
$
3,608.4
  
$
5,255.1
  
$
(1,564.8
)
 
$
3,690.3
 
Amortization Expense of Intangible Assets by Segment
The following table presents the amortization expense of our intangible assets by business segment for the years indicated:

 
 
For the Year Ended December 31,
 
 
 
2018
  
2017
  
2016
 
NGL Pipelines & Services
 
$
34.7
  
$
28.9
  
$
30.6
 
Crude Oil Pipelines & Services
  
87.8
   
92.5
   
98.4
 
Natural Gas Pipelines & Services
  
39.1
   
36.2
   
33.2
 
Petrochemical & Refined Products Services
  
8.7
   
9.3
   
9.1
 
Total
 
$
170.3
  
$
166.9
  
$
171.3
 
Forecasted Amortization Expense
The following table presents our forecast of amortization expense associated with existing intangible assets for the years indicated:

2019
  
2020
  
2021
  
2022
  
2023
 
$
167.1
  
$
159.8
  
$
162.1
  
$
167.6
  
$
167.8
 
Significant Acquired Intangible Assets

At December 31, 2018, the carrying value of our portfolio of customer relationship intangible assets was $3.3 billion, the principal components of which were as follows:


Weighted
Average
Remaining
Amortization
Period
 
December 31, 2018
 

 
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
 
Basin-specific customer relationships:
          
   EFS Midstream
23.4 years
 
$
1,409.8
  
$
(117.0
)
 
$
1,292.8
 
   State Line and Fairplay
28.2 years
  
895.0
   
(183.2
)
  
711.8
 
   San Juan Gathering
20.8 years
  
331.3
   
(227.7
)
  
103.6
 
   Encinal
8.0 years
  
132.9
   
(103.5
)
  
29.4
 
General customer relationships:
             
   Oiltanking
25.0 years
  
1,192.5
   
(86.1
)
  
1,106.4
 

 
Weighted
Average
Remaining
Amortization
Period
 
December 31, 2018
 

 
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
 
Oiltanking customer contracts
4.0 years
 
$
293.3
  
$
(221.1
)
 
$
72.2
 
Jonah natural gas gathering agreements
23.0 years
  
224.4
   
(166.3
)
  
58.1
 
Delaware Basin natural gas processing contracts
8.0 years
  
82.6
   
(6.4
)
  
76.2