Related Party Transactions

6 Months Ended

Jun. 30, 2019

Note 14. Related Party Transactions

The following table summarizes our related party transactions for the periods indicated:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Revenues – related parties:
Unconsolidated affiliates	$	25.8	$	55.6	$	38.1	$	80.3
Costs and expenses – related parties:
EPCO and its privately held affiliates	$	267.2	$	260.2	$	540.1	$	516.9
Unconsolidated affiliates		95.3		148.0		218.6		241.4
Total	$	362.5	$	408.2	$	758.7	$	758.3

The following table summarizes our related party accounts receivable and accounts payable balances at the dates indicated:

	June 30, 2019		December 31, 2018
Accounts receivable - related parties:
Unconsolidated affiliates	$	14.2	$	3.5

Accounts payable - related parties:
EPCO and its privately held affiliates	$	61.4	$	116.3
Unconsolidated affiliates		12.2		23.9
Total	$	73.6	$	140.2

We believe that the terms and provisions of our related party agreements are fair to us; however, such agreements and transactions may not be as favorable to us as we could have obtained from unaffiliated third parties.

Relationship with EPCO and Affiliates

We have an extensive and ongoing relationship with EPCO and its privately held affiliates (including Enterprise GP, our general partner), which are not a part of our consolidated group of companies.

At June 30, 2019, EPCO and its privately held affiliates (including Dan Duncan LLC and certain Duncan family trusts) beneficially owned the following limited partner interests in us:

Total Number of Units	Percentage of Total Units Outstanding
698,051,729	31.9%

Of the total number of units held by EPCO and its privately held affiliates, 108,222,618 have been pledged as security under the credit facilities of EPCO and its privately held affiliates at June 30, 2019. These credit facilities contain customary and other events of default, including defaults by us and other affiliates of EPCO. An event of default, followed by a foreclosure on the pledged collateral, could ultimately result in a change in ownership of these units and affect the market price of EPD’s common units.

We and Enterprise GP are both separate legal entities apart from each other and apart from EPCO and its other affiliates, with assets and liabilities that are also separate from those of EPCO and its other affiliates. EPCO and its privately held affiliates depend on the cash distributions they receive from us and other investments to fund their other activities and to meet their debt obligations. During the six months ended June 30, 2019 and 2018, we paid EPCO and its privately held affiliates cash distributions totaling $593.7 million and $576.3 million, respectively.

From time-to-time, EPCO and its privately held affiliates elect to purchase additional common units under EPD’s DRIP and ATM program. During the six months ended June 30, 2019, privately held affiliates of EPCO reinvested $14 million through the DRIP. See Note 8 for additional information regarding the DRIP.

We have no employees. All of our operating functions and general and administrative support services are provided by employees of EPCO pursuant to the ASA or by other service providers. The following table presents our related party costs and expenses attributable to the ASA with EPCO for the periods indicated:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Operating costs and expenses	$	233.6	$	228.0	$	472.7	$	451.0
General and administrative expenses		29.4		28.4		58.7		57.6
Total costs and expenses	$	263.0	$	256.4	$	531.4	$	508.6