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Business Segments (Tables)
 6 Months Ended
Jun. 30, 2019
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 presented.  The financial measure most directly comparable to total segment gross operating margin is operating income.

 
  
For the Three Months
Ended June 30,
    
For the Six Months
Ended June 30,
  
 
  
2019
    
2018
    
2019
    
2018
  
Operating income
  
$
1,560.3
    
$
986.4
    
$
3,186.5
    
$
2,124.9
  
Adjustments to reconcile operating income to total segment gross operating margin
   (addition or subtraction indicated by sign):
                                
Depreciation, amortization and accretion expense in operating costs and expenses
    
462.8
      
425.3
      
913.7
      
819.6
  
Asset impairment and related charges in operating costs and expenses
    
7.0
      
15.9
      
11.8
      
16.8
  
Net gains attributable to asset sales in operating costs and expenses
    
(2.1
)
    
(0.9
)
    
(2.5
)
    
(1.4
)
General and administrative costs
    
52.5
      
51.4
      
104.7
      
104.4
  
Non-refundable payments received from shippers attributable to make-up rights (1)
    
11.3
      
5.6
      
13.5
      
8.3
  
Subsequent recognition of revenues attributable to make-up rights (2)
    
(5.6
)
    
(22.0
)
    
(13.1
)
    
(36.2
)
Total segment gross operating margin
  
$
2,086.2
    
$
1,461.7
    
$
4,214.6
    
$
3,036.4
  

(1)
Since make-up rights entail a future performance obligation by the pipeline to the shipper, these receipts are recorded as deferred revenue for GAAP purposes; however, these receipts are included in gross operating margin in the period of receipt since they are nonrefundable to the shipper.
(2)
As deferred revenues attributable to make-up rights are subsequently recognized as revenue under GAAP, gross operating margin must be adjusted to remove such amounts to prevent duplication since the associated non-refundable payments were previously included in gross operating margin.

Gross operating margin by segment is calculated by subtracting segment operating costs and expenses from segment revenues, with both segment totals reflecting the adjustments noted in the preceding table, as applicable, and before the elimination of intercompany transactions.  The following table presents gross operating margin by segment for the periods indicated:

 
  
For the Three Months
Ended June 30,
    
For the Six Months
Ended June 30,
  
 
  
2019
    
2018
    
2019
    
2018
  
Gross operating margin by segment:
                        
NGL Pipelines & Services
  
$
966.3
    
$
913.7
    
$
1,925.5
    
$
1,798.6
  
Crude Oil Pipelines & Services
    
513.2
      
52.8
      
1,175.5
      
272.8
  
Natural Gas Pipelines & Services
    
301.8
      
213.4
      
566.1
      
411.3
  
Petrochemical & Refined Products Services
    
304.9
      
281.8
      
547.5
      
553.7
  
Total segment gross operating margin
  
$
2,086.2
    
$
1,461.7
    
$
4,214.6
    
$
3,036.4
  

The following table summarizes the non-cash mark-to-market gains (losses) included in gross operating margin and interest expense for the periods indicated:

 
  
For the Three Months
Ended June 30,
    
For the Six Months
Ended June 30,
  
 
  
2019
    
2018
    
2019
    
2018
  
Mark-to-market gains (losses) in gross operating margin:
                        
NGL Pipelines & Services
  
$
(0.7
)
  
$
11.2
    
$
0.6
    
$
7.8
  
Crude Oil Pipelines & Services
    
(14.6
)
    
(338.0
)
    
85.2
      
(467.6
)
Natural Gas Pipelines & Services
    
0.3
      
3.4
      
–
      
1.2
  
Petrochemical & Refined Products Services
    
2.5
      
1.3
      
(2.0
)
    
(0.3
)
     Total mark-to-market impact on gross operating margin
    
(12.5
)
    
(322.1
)
    
83.8
      
(458.9
)
Mark-to-market loss in interest expense
    
–
      
–
      
–
      
(0.1
)
Total
  
$
(12.5
)
  
$
(322.1
)
  
$
83.8
    
$
(459.0
)
Information by Business Segments
Information by business segment, together with reconciliations to amounts presented on our Unaudited Condensed Statements of Consolidated Operations, is presented in the following table:

 
  
Reportable Business Segments
              
 
  
NGL
Pipelines
& Services
    
Crude Oil
Pipelines
& Services
    
Natural Gas
Pipelines
& Services
    
Petrochemical
& Refined Products Services
    
Adjustments
and
Eliminations
    
Consolidated
Total
  
Revenues from third parties:
                                    
Three months ended June 30, 2019
  
$
3,282.2
    
$
2,847.0
    
$
815.6
    
$
1,305.7
    
$
–
    
$
8,250.5
  
Three months ended June 30, 2018
    
3,268.8
      
2,733.8
      
789.5
      
1,619.8
      
–
      
8,411.9
  
Six months ended June 30, 2019
    
6,593.8
      
5,448.6
      
1,739.3
      
3,000.0
      
–
      
16,781.7
  
Six months ended June 30, 2018
    
6,678.4
      
6,286.5
      
1,591.5
      
3,129.3
      
–
      
17,685.7
  
Revenues from related parties:
                                                
Three months ended June 30, 2019
    
2.5
      
19.6
      
3.7
      
–
      
–
      
25.8
  
Three months ended June 30, 2018
    
4.9
      
47.4
      
3.3
      
–
      
–
      
55.6
  
Six months ended June 30, 2019
    
5.3
      
25.3
      
7.5
      
–
      
–
      
38.1
  
Six months ended June 30, 2018
    
8.6
      
65.6
      
6.1
      
–
      
–
      
80.3
  
Intersegment and intrasegment revenues:
                                                
Three months ended June 30, 2019
    
4,494.8
      
9,453.3
      
163.1
      
617.9
      
(14,729.1
)
    
–
  
Three months ended June 30, 2018
    
6,004.6
      
9,978.5
      
165.0
      
784.0
      
(16,932.1
)
    
–
  
Six months ended June 30, 2019
    
9,986.2
      
17,338.3
      
358.5
      
1,332.3
      
(29,015.3
)
    
–
  
Six months ended June 30, 2018
    
12,569.5
      
21,404.8
      
335.9
      
1,397.3
      
(35,707.5
)
    
–
  
Total revenues:
                                                
Three months ended June 30, 2019
    
7,779.5
      
12,319.9
      
982.4
      
1,923.6
      
(14,729.1
)
    
8,276.3
  
Three months ended June 30, 2018
    
9,278.3
      
12,759.7
      
957.8
      
2,403.8
      
(16,932.1
)
    
8,467.5
  
Six months ended June 30, 2019
    
16,585.3
      
22,812.2
      
2,105.3
      
4,332.3
      
(29,015.3
)
    
16,819.8
  
Six months ended June 30, 2018
    
19,256.5
      
27,756.9
      
1,933.5
      
4,526.6
      
(35,707.5
)
    
17,766.0
  
Equity in income (loss) of unconsolidated affiliates:
                                                
Three months ended June 30, 2019
    
26.7
      
111.0
      
1.6
      
(1.9
)
    
–
      
137.4
  
Three months ended June 30, 2018
    
39.4
      
83.5
      
1.6
      
(2.2
)
    
–
      
122.3
  
Six months ended June 30, 2019
    
56.8
      
235.6
      
3.3
      
(3.7
)
    
–
      
292.0
  
Six months ended June 30, 2018
    
58.8
      
181.4
      
2.6
      
(4.8
)
    
–
      
238.0
  

Information by business segment, together with reconciliations to our Unaudited Condensed Consolidated Balance Sheet totals, is presented in the following table:

 
  
Reportable Business Segments
              
 
  
NGL
Pipelines
& Services
    
Crude Oil
Pipelines
& Services
    
Natural Gas
Pipelines
& Services
    
Petrochemical
& Refined
Products
Services
    
Adjustments
and
Eliminations
    
Consolidated
Total
  
Property, plant and equipment, net:
(see Note 4)
                                    
At June 30, 2019
  
$
16,109.6
    
$
6,293.5
    
$
8,275.8
    
$
6,179.6
    
$
3,230.6
    
$
40,089.1
  
At December 31, 2018
    
14,845.4
      
5,847.7
      
8,303.8
      
6,213.9
      
3,526.8
      
38,737.6
  
Investments in unconsolidated affiliates:
(see Note 5)
                                                
At June 30, 2019
    
686.7
      
1,881.9
      
24.0
      
59.5
      
–
      
2,652.1
  
At December 31, 2018
    
662.0
      
1,867.5
      
22.8
      
62.8
      
–
      
2,615.1
  
Intangible assets, net: (see Note 6)
                                                
At June 30, 2019
    
374.0
      
2,048.5
      
960.1
      
150.0
      
–
      
3,532.6
  
At December 31, 2018
    
380.1
      
2,094.6
      
979.3
      
154.4
      
–
      
3,608.4
  
Goodwill: (see Note 6)
                                                
At June 30, 2019
    
2,651.7
      
1,841.0
      
296.3
      
956.2
      
–
      
5,745.2
  
At December 31, 2018
    
2,651.7
      
1,841.0
      
296.3
      
956.2
      
–
      
5,745.2
  
Segment assets:
                                                
At June 30, 2019
    
19,822.0
      
12,064.9
      
9,556.2
      
7,345.3
      
3,230.6
      
52,019.0
  
At December 31, 2018
    
18,539.2
      
11,650.8
      
9,602.2
      
7,387.3
      
3,526.8
      
50,706.3
  
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 June 30,
    
For the Six Months
Ended June 30,
  
 
  
2019
    
2018
    
2019
    
2018
  
Consolidated revenues:
                        
NGL Pipelines & Services
  
$
3,284.7
    
$
3,273.7
    
$
6,599.1
    
$
6,687.0
  
Crude Oil Pipelines & Services
    
2,866.6
      
2,781.2
      
5,473.9
      
6,352.1
  
Natural Gas Pipelines & Services
    
819.3
      
792.8
      
1,746.8
      
1,597.6
  
Petrochemical & Refined Products Services
    
1,305.7
      
1,619.8
      
3,000.0
      
3,129.3
  
Total consolidated revenues
  
$
8,276.3
    
$
8,467.5
    
$
16,819.8
    
$
17,766.0
  
 
                                
Consolidated costs and expenses
                                
Operating costs and expenses:
                                
Cost of sales
  
$
5,609.4
    
$
6,391.9
    
$
11,445.0
    
$
13,532.3
  
Other operating costs and expenses (1)
    
723.8
      
719.8
      
1,452.6
      
1,407.4
  
Depreciation, amortization and accretion
    
462.8
      
425.3
      
913.7
      
819.6
  
Asset impairment and related charges
    
7.0
      
15.9
      
11.8
      
16.8
  
Net gains attributable to asset sales
    
(2.1
)
    
(0.9
)
    
(2.5
)
    
(1.4
)
General and administrative costs
    
52.5
      
51.4
      
104.7
      
104.4
  
Total consolidated costs and expenses
  
$
6,853.4
    
$
7,603.4
    
$
13,925.3
    
$
15,879.1
  

(1)
Represents the cost of operating our plants, pipelines and other fixed assets excluding: depreciation, amortization and accretion charges; asset impairment and related charges; and net losses (or gains) attributable to asset sales.