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Business Segments (Tables)
 3 Months Ended
Mar. 31, 2021
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 GAAP financial measure most directly comparable to total segment gross operating margin is operating income.

 
  
For the Three Months
Ended March 31,
  
 
  
2021
    
2020
  
Operating income
  
$
1,694.5
    
$
1,507.5
  
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 (1)
    
496.1
      
482.8
  
Asset impairment charges in operating costs and expenses
    
65.5
      
1.6
  
Net losses attributable to asset sales and related matters in operating costs
   and expenses
    
10.9
      
0.1
  
General and administrative costs
    
56.3
      
55.5
  
     Non-refundable payments received from shippers attributable to make-up rights (2)
    
19.3
      
16.8
  
     Subsequent recognition of revenues attributable to make-up rights (3)
    
(39.3
)
    
(7.1
)
Total segment gross operating margin
  
$
2,303.3
    
$
2,057.2
  

(1)
Excludes amortization of major maintenance costs for reaction-based plants, which are a component of gross operating margin.
(2)
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.
(3)
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.
Information by Business Segments
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 March 31,
  
 
  
2021
    
2020
  
Gross operating margin by segment:
            
NGL Pipelines & Services
  
$
1,086.4
    
$
1,042.0
  
Crude Oil Pipelines & Services
    
400.2
      
452.9
  
Natural Gas Pipelines & Services
    
535.2
      
283.8
  
Petrochemical & Refined Products Services
    
281.5
      
278.5
  
Total segment gross operating margin
  
$
2,303.3
    
$
2,057.2
  
Information by business segment, together with reconciliations to amounts presented on, or included in, 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 March 31, 2021
  
$
3,580.7
    
$
2,157.0
    
$
1,583.9
    
$
1,819.5
    
$
–
    
$
9,141.1
  
Three months ended March 31, 2020
    
2,966.3
      
2,027.7
      
667.6
      
1,804.9
      
–
      
7,466.5
  
Revenues from related parties:
                                                
Three months ended March 31, 2021
    
2.8
      
8.5
      
2.9
      
–
      
–
      
14.2
  
Three months ended March 31, 2020
    
1.8
      
11.2
      
3.0
      
–
      
–
      
16.0
  
Intersegment and intrasegment revenues:
                                                
Three months ended March 31, 2021
    
13,088.6
      
7,420.1
      
145.8
      
6,234.2
      
(26,888.7
)
    
–
  
Three months ended March 31, 2020
    
5,780.7
      
7,840.3
      
115.1
      
808.1
      
(14,544.2
)
    
–
  
Total revenues:
                                                
Three months ended March 31, 2021
    
16,672.1
      
9,585.6
      
1,732.6
      
8,053.7
      
(26,888.7
)
    
9,155.3
  
Three months ended March 31, 2020
    
8,748.8
      
9,879.2
      
785.7
      
2,613.0
      
(14,544.2
)
    
7,482.5
  
Equity in income (loss) of unconsolidated affiliates:
                                                
Three months ended March 31, 2021
    
28.1
      
118.9
      
1.4
      
0.5
      
–
      
148.9
  
Three months ended March 31, 2020
    
32.7
      
107.3
      
1.6
      
(0.8
)
    
–
      
140.8
  

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 March 31, 2021
  
$
17,121.5
    
$
7,015.1
    
$
8,355.8
    
$
7,554.7
    
$
2,055.3
    
$
42,102.4
  
At December 31, 2020
    
17,128.3
      
6,982.6
      
8,465.8
      
7,528.4
      
1,807.7
      
41,912.8
  
Investments in unconsolidated affiliates:
(see Note 5)
                                                
At March 31, 2021
    
664.6
      
1,749.5
      
32.5
      
3.2
      
–
      
2,449.8
  
At December 31, 2020
    
671.6
      
1,723.7
      
31.4
      
2.5
      
–
      
2,429.2
  
Intangible assets, net: (see Note 6)
                                                
At March 31, 2021
    
328.1
      
1,918.8
      
881.2
      
131.7
      
–
      
3,259.8
  
At December 31, 2020
    
334.1
      
1,936.6
      
905.0
      
133.4
      
–
      
3,309.1
  
Goodwill: (see Note 6)
                                                
At March 31, 2021
    
2,651.7
      
1,841.0
      
–
      
956.2
      
–
      
5,448.9
  
At December 31, 2020
    
2,651.7
      
1,841.0
      
–
      
956.2
      
–
      
5,448.9
  
Segment assets:
                                                
At March 31, 2021
    
20,765.9
      
12,524.4
      
9,269.5
      
8,645.8
      
2,055.3
      
53,260.9
  
At December 31, 2020
    
20,785.7
      
12,483.9
      
9,402.2
      
8,620.5
      
1,807.7
      
53,100.0
  
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 March 31,
  
 
  
2021
    
2020
  
Consolidated revenues:
            
NGL Pipelines & Services
  
$
3,583.5
    
$
2,968.1
  
Crude Oil Pipelines & Services
    
2,165.5
      
2,038.9
  
Natural Gas Pipelines & Services
    
1,586.8
      
670.6
  
Petrochemical & Refined Products Services
    
1,819.5
      
1,804.9
  
Total consolidated revenues
  
$
9,155.3
    
$
7,482.5
  
 
                
Consolidated costs and expenses
                
Operating costs and expenses:
                
Cost of sales
  
$
6,263.0
    
$
4,823.0
  
Other operating costs and expenses (1)
    
715.3
      
752.8
  
Depreciation, amortization and accretion
    
498.7
      
482.8
  
Asset impairment charges
    
65.5
      
1.6
  
Net losses attributable to asset sales and related matters
    
10.9
      
0.1
  
General and administrative costs
    
56.3
      
55.5
  
Total consolidated costs and expenses
  
$
7,609.7
    
$
6,115.8
  

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