Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Inventories [Abstract]

Inventory Amounts by Product Type

Our inventory amounts by product type were as follows at the dates indicated:

	June 30, 2020		December 31, 2019
NGLs	$	840.0	$	1,094.9
Petrochemicals and refined products		649.9		311.5
Crude oil		519.3		674.2
Natural gas		14.9		10.8
Total	$	2,024.1	$	2,091.4

Cost of Sales and Lower of Cost or Market Adjustments

Due to fluctuating commodity prices, we recognize lower of cost or net realizable value adjustments when the carrying value of our available-for-sale inventories exceeds their net realizable value.  The following table presents our total cost of sales amounts and lower of cost or net realizable value adjustments for the periods indicated:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2020			2019			2020			2019
Cost of sales (1)		$	3,195.2		$	5,609.4		$	8,018.2		$	11,445.0
Lower of cost or net realizable value adjustments    recognized in cost of sales			13.2			4.9			51.2			10.3

(1) Cost of sales is a component of “Operating costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations.  Fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities.