Investing Activities (Tables)

12 Months Ended

Dec. 31, 2019

Investments [Abstract]

Realized Gain (Loss) on Investments [Table Text Block]

The following table presents certain items reflected in Other investing income (loss) – net in the Consolidated Statement of Operations:

	Year Ended December 31,
	2019			2018			2017
	(Millions)
Impairment of equity-method investments (Note 18)	$	(186	)	$	(32	)	$	—
Gain (loss) on deconsolidation of businesses	(29		)	203			—
Gain on disposition of equity-method investments	122			—			269
Other	14			16			13
Other investing income (loss) – net	$	(79	)	$	187		$	282

Investments [Table Text Block]

	Ownership Interest at December 31, 2019	December 31,
		2019		2018
		(Millions)
Appalachia Midstream Investments	(1)	$	3,236	$	3,218
RMM	50%	881		776
Discovery	60%	472		507
Caiman II	58%	428		412
OPPL	50%	403		415
Laurel Mountain	69%	249		314
Gulfstream	50%	217		225
Brazos Permian II	15%	194		191
UEOM	(2)	—		1,293
Jackalope	(3)	—		343
Other	Various	155		127
		$	6,235	$	7,821

___________

(1) Includes equity-method investments in multiple gathering systems in the Marcellus Shale with an approximate average 66 percent interest.

(2) At December 31, 2018, we owned a 62 percent interest in UEOM. On March 18, 2019, we acquired the remaining 38 percent interest. As a result of acquiring this additional interest, we obtained control of and now consolidate UEOM.

(3)

At December 31, 2018, we owned a 50 percent interest in Jackalope. In April 2019, we sold our interest in Jackalope.

Contributions [Table Text Block]

We generally fund our portion of significant expansion or development projects of these investees through additional capital contributions. These transactions increased the carrying value of our investments and included:

	Year Ended December 31,
	2019		2018		2017
	(Millions)
RMM	$	145	$	795	$	—
Appalachia Midstream Investments	140		246		70
Laurel Mountain	36		16		—
Caiman II	28		—		24
Jackalope	24		42		—
Brazos Permian II	18		27		—
Discovery	—		5		1
DBJV	—		—		32
Other	62		1		5
	$	453	$	1,132	$	132

Dividends and distributions [Table Text Block]

Dividends and distributions

The organizational documents of entities in which we have an equity-method investment generally require distribution of available cash to members on at least a quarterly basis. These transactions reduced the carrying value of our investments and included:

	Year Ended December 31,
	2019		2018		2017
	(Millions)
Appalachia Midstream Investments	$	293	$	297	$	270
Gulfstream	86		93		92
OPPL	77		73		68
Caiman II	42		46		49
Discovery	41		45		127
RMM	38		—		—
Laurel Mountain	30		23		32
UEOM	13		70		80
DBJV	—		—		39
Other	37		46		27
	$	657	$	693	$	784

Summarized Financial Position and Results of Operations of Equity Method Investments [Table Text Block]

Summarized Financial Position and Results of Operations of All Equity-Method Investments

	December 31,
	2019			2018
	(Millions)
Assets (liabilities):
Current assets	$	581		$	834
Noncurrent assets	11,966			13,199
Current liabilities	(341		)	(605		)
Noncurrent liabilities	(2,532		)	(2,491		)

	Year Ended December 31,
	2019		2018		2017
	(Millions)
Gross revenue	$	2,490	$	2,411	$	1,961
Operating income	685		804		871
Net income	598		795		806