Business Segments (Tables)

12 Months Ended

Dec. 31, 2013

Measurement of Total Segment Gross Operating Margin

The following table presents our measurement of non-GAAP total segment gross operating margin for the periods indicated:

	For the Year Ended December 31,
	2013			2012			2011
Revenues	$	47,727.0		$	42,583.1		$	44,313.0
Subtract operating costs and expenses		(44,238.7	)		(39,367.9	)		(41,318.5	)
Add equity in income of unconsolidated affiliates		167.3			64.3			46.4
Add depreciation, amortization and accretion expense amounts excluded from gross operating margin		1,148.9			1,061.7			958.7
Add impairment charges excluded from gross operating margin		92.6			63.4			27.8
Add operating lease expenses paid by EPCO excluded from gross operating margin		--			--			0.3
Subtract gains attributable to asset sales and insurance recoveries excluded from gross operating margin		(83.4	)		(17.6	)		(156.0	)
Add non-refundable deferred revenues attributable to shipper make-up rights on new pipeline projects included in gross operating margin		4.4			--			--
Total segment gross operating margin	$	4,818.1		$	4,387.0		$	3,871.7

Reconciliation of Total Segment Gross Operating Margin to Operating Income and Income Before Provision for Income Taxes

The following table presents a reconciliation of total segment gross operating margin to operating income and further to income before income taxes for the periods indicated:

	For the Year Ended December 31,
	2013			2012			2011
Total segment gross operating margin	$	4,818.1		$	4,387.0		$	3,871.7
Adjustments to reconcile total segment gross operating margin to operating income:
Subtract depreciation, amortization and accretion expense amounts not reflected in gross operating margin		(1,148.9	)		(1,061.7	)		(958.7	)
Subtract impairment charges not reflected in gross operating margin		(92.6	)		(63.4	)		(27.8	)
Subtract operating lease expenses paid by EPCO not reflected in gross operating margin		--			--			(0.3	)
Add gains attributable to asset sales and insurance recoveries not reflected in gross operating margin		83.4			17.6			156.0
Subtract non-refundable deferred revenues included in gross operating margin attributable to shipper make-up rights on new pipeline projects		(4.4	)		--			--
Subtract general and administrative costs not reflected in gross operating margin		(188.3	)		(170.3	)		(181.8	)
Operating income		3,467.3			3,109.2			2,859.1
Other expense, net		(802.7	)		(698.4	)		(743.6	)
Income before income taxes	$	2,664.6		$	2,410.8		$	2,115.5

Information by Business Segments

Information by business segment, together with reconciliations to our consolidated financial statement totals, is presented in the following table:

	Reportable Business Segments
	NGL Pipelines & Services		Onshore Natural Gas Pipelines & Services		Onshore Crude Oil Pipelines & Services			Offshore Pipelines & Services		Petrochemical & Refined Products Services			Other Investments		Adjustments and Eliminations			Consolidated Total
Revenues from third parties:
Year ended December 31, 2013	$	17,119.1	$	3,522.7	$	20,609.1		$	151.7	$	6,258.5		$	--	$	--		$	47,661.1
Year ended December 31, 2012		15,158.9		3,297.7		17,661.6			182.7		6,208.9			--		--			42,509.8
Year ended December 31, 2011		16,938.1		3,510.0		16,061.0			246.4		6,782.4			--		--			43,537.9
Revenues from related parties:
Year ended December 31, 2013		1.1		15.8		41.3			7.7		--			--		--			65.9
Year ended December 31, 2012		9.5		54.9		0.1			8.8		--			--		--			73.3
Year ended December 31, 2011		545.2		220.2		0.1			9.6		--			--		--			775.1
Intersegment and intrasegment revenues:
Year ended December 31, 2013		11,096.6		959.7		10,222.3			9.6		1,764.0			--		(24,052.2	)		--
Year ended December 31, 2012		12,500.6		871.6		6,906.9			10.4		1,758.9			--		(22,048.4	)		--
Year ended December 31, 2011		13,657.7		1,131.8		4,904.3			6.6		1,799.1			--		(21,499.5	)		--
Total revenues:
Year ended December 31, 2013		28,216.8		4,498.2		30,872.7			169.0		8,022.5			--		(24,052.2	)		47,727.0
Year ended December 31, 2012		27,669.0		4,224.2		24,568.6			201.9		7,967.8			--		(22,048.4	)		42,583.1
Year ended December 31, 2011		31,141.0		4,862.0		20,965.4			262.6		8,581.5			--		(21,499.5	)		44,313.0
Equity in income (loss) of unconsolidated affiliates:
Year ended December 31, 2013		15.7		3.8		140.3			29.8		(22.3	)		--		--			167.3
Year ended December 31, 2012		15.9		4.4		32.6			26.9		(17.9	)		2.4		--			64.3
Year ended December 31, 2011		21.8		5.5		(4.1	)		27.1		(18.7	)		14.8		--			46.4
Gross operating margin:
Year ended December 31, 2013		2,514.4		789.0		742.7			146.1		625.9			--		--			4,818.1
Year ended December 31, 2012		2,468.5		775.5		387.7			173.0		579.9			2.4		--			4,387.0
Year ended December 31, 2011		2,184.2		675.3		234.0			228.2		535.2			14.8		--			3,871.7
Property, plant and equipment, net: (see Note 8)
At December 31, 2013		9,957.8		8,917.3		1,479.9			1,223.7		2,712.4			--		2,655.5			26,946.6
At December 31, 2012		8,494.8		8,950.1		1,385.9			1,343.0		2,559.5			--		2,113.1			24,846.4
At December 31, 2011		7,137.8		8,495.4		456.9			1,416.4		2,539.5			--		2,145.6			22,191.6
Investments in unconsolidated affiliates: (see Note 9)
At December 31, 2013		645.5		24.2		1,165.2			531.8		70.4			--		--			2,437.1
At December 31, 2012		324.6		24.9		493.8			479.0		72.3			--		--			1,394.6
At December 31, 2011		146.1		30.1		170.7			424.9		64.7			1,023.1		--			1,859.6
Intangible assets, net: (see Note 10)
At December 31, 2013		285.2		1,017.8		4.5			54.7		100.0			--		--			1,462.2
At December 31, 2012		320.6		1,067.9		5.9			66.2		106.2			--		--			1,566.8
At December 31, 2011		341.3		1,127.8		5.8			77.5		103.8			--		--			1,656.2
Goodwill: (see Note 10)
At December 31, 2013		341.2		296.3		305.1			82.1		1,055.3			--		--			2,080.0
At December 31, 2012		341.2		296.3		311.2			82.1		1,056.0			--		--			2,086.8
At December 31, 2011		341.2		296.3		311.2			82.1		1,061.5			--		--			2,092.3
Segment assets:
At December 31, 2013		11,229.7		10,255.6		2,954.7			1,892.3		3,938.1			--		2,655.5			32,925.9
At December 31, 2012		9,481.2		10,339.2		2,196.8			1,970.3		3,794.0			--		2,113.1			29,894.6
At December 31, 2011		7,966.4		9,949.6		944.6			2,000.9		3,769.5			1,023.1		2,145.6			27,799.7

Consolidated Revenues and Expenses

The following table presents additional information regarding our consolidated revenues and costs and expenses for the periods indicated:

	For the Year Ended December 31,
	2013			2012			2011
NGL Pipelines & Services:
Sales of NGLs and related products	$	15,916.0		$	14,218.5		$	16,724.6
Midstream services		1,204.2			949.9			758.7
Total		17,120.2			15,168.4			17,483.3
Onshore Natural Gas Pipelines & Services:
Sales of natural gas		2,571.6			2,395.4			2,866.5
Midstream services		966.9			957.2			863.7
Total		3,538.5			3,352.6			3,730.2
Onshore Crude Oil Pipelines & Services:
Sales of crude oil		20,371.3			17,548.7			15,962.6
Midstream services		279.1			113.0			98.5
Total		20,650.4			17,661.7			16,061.1
Offshore Pipelines & Services:
Sales of natural gas		0.5			0.4			1.1
Sales of crude oil		5.7			3.3			9.4
Midstream services		153.2			187.8			245.5
Total		159.4			191.5			256.0
Petrochemical & Refined Products Services:
Sales of petrochemicals and refined products		5,568.8			5,470.9			6,000.6
Midstream services		689.7			738.0			781.8
Total		6,258.5			6,208.9			6,782.4
Total consolidated revenues	$	47,727.0		$	42,583.1		$	44,313.0

Consolidated costs and expenses
Operating costs and expenses:
Cost of sales	$	40,770.2		$	36,015.5		$	38,292.6
Other operating costs and expenses (1)		2,310.4			2,244.9			2,195.4
Depreciation, amortization and accretion		1,148.9			1,061.7			958.7
Gains attributable to asset sales and insurance recoveries		(83.4	)		(17.6	)		(156.0	)
Non-cash asset impairment charges		92.6			63.4			27.8
General and administrative costs		188.3			170.3			181.8
Total consolidated costs and expenses	$	44,427.0		$	39,538.2		$	41,500.3

(1)	Represents cost of operating our plants, pipelines and other fixed assets, excluding depreciation, amortization and accretion charges.

Our largest non-affiliated customer for 2013 was BP p.l.c. and its affiliates (collectively, "BP"), which accounted for $4.3 billion, or 9.0%, of our consolidated revenues for the year. The following table presents our consolidated revenues from BP by business segment for the year ended December 31, 2013:

NGL Pipelines & Services	$	1,137.6
Onshore Natural Gas Pipelines & Services		164.3
Onshore Crude Oil Pipelines & Services		2,833.1
Petrochemical & Refined Products Services		176.7
Total consolidated revenues from BP	$	4,311.7

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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