Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

The table below provides additional information related to compensation for our named executive officers as required by Item 402(v) of Regulation S-K. The table includes a new calculated value titled “compensation actually paid” (“CAP”) for the Primary Executive Officer (“PEO”), our CEO, and for the non-PEO NEOs. It’s important to note the majority of the value displayed as CAP has in fact not been earned or paid and reflects updated values of outstanding equity awards that are still subject to vesting, and in some cases, performance requirements. The table also provides information on our cumulative TSR, the cumulative TSR of the Bloomberg Americas Pipeline Index, GAAP net income and Adjusted EBITDA.

YEAR	SUMMARY COMPENSATION TABLE TOTAL FOR PEO ($)		COMPENSATION ACTUALLY PAID TO PEO ($)		AVERAGE SUMMARY COMPENSATION TABLE TOTAL FOR NON-PEO NAMED EXECUTIVE OFFICERS ($)(a)		AVERAGE COMPENSATION ACTUALLY PAID TO NON-PEO NAMED EXECUTIVE OFFICERS ($)(a)		VALUE OF INITIAL FIXED $100 INVESTMENT BASED ON:(b)				NET INCOME ($) in millions		ADJUSTED EBITDA(c) ($) in millions
									COMPANY TSR ($)		BLOOMBERG AMERICAS PIPELINE INDEX TSR ($)
2023	$	17,548,802	$	18,483,038	$	4,887,359	$	5,389,030	$	190.37	$	131.11	$	3,303	$	6,779
2022		13,887,596		36,717,682		4,323,372		9,088,871		170.05		122.58		2,117		6,418
2021		13,759,533		32,332,070		4,036,788		9,626,605		127.92		106.10		1,562		5,635
2020		12,171,958		12,835,709		4,007,220		4,308,244		92.40		79.13		198		5,105

(a) The PEO for the disclosure is our CEO Mr. Armstrong. The non-PEO NEOs for 2020 and 2021 include Mr. Dunn, Mr. Zamarin, Mr. Chandler, and Mr. Bennett. The non-PEO NEOs for 2022 and 2023 include Mr. Dunn, Mr. Zamarin, Mr. Porter, and Mr. Wilson.

(b) The dollar amount represents the value of an initial $100 investment on December 31, 2019, assuming reinvestment of all dividends.

(c) Adjusted EBITDA is a non-GAAP measure. A reconciliation of these non-GAAP financial measures to their nearest GAAP comparable financial measure is included in the appendix.

The following tables detail the adjustments to the SCT total compensation value to reach the calculated CAP result. The equity award values are calculated in accordance with FASB ASC Topic 176 for each year-end value. For awards that vested within the applicable calendar year, the actual vesting date value is applied. The addition to the SCT value for pension benefits reflect the actual service cost applicable for the calendar year as opposed to the change in present value of the pension benefit used in the SCT. No prior service cost is included as there were no applicable plan amendments during this time.

The PEO calculation of CAP:

YEAR	SCT TOTAL COMP		DEDUCTIONS FROM SCT TOTAL FOR EQUITY AWARDS			DEDUCTIONS FROM SCT FOR PENSION BENEFITS			ADDITIONS TO SCT TOTAL FOR EQUITY AWARDS		ADDITIONS TO SCT FOR PENSION BENEFITS		COMPENSATION ACTUALLY PAID
2023	$	17,548,802	$	(9,999,977	)	$	(3,453,819	)	$	13,576,265	$	811,767	$	18,483,038
2022		13,887,596		(9,300,000	)		—			31,567,125		562,961		36,717,682
2021		13,759,533		(9,000,015	)		—			26,902,316		670,236		32,332,070
2020		12,171,958		(7,500,010	)		(943,581	)		8,421,513		685,829		12,835,709

The following details the sources of the CAP additions related to the PEO’s Equity Awards:

YEAR	FAIR VALUE OF CURRENT YEAR AWARDS OUTSTANDING AT YEAR END		CHANGE IN VALUE OF PRIOR YEARS’ AWARDS OUTSTANDING AT YEAR END		CHANGE IN VALUE OF PRIOR YEARS’ AWARDS THAT VESTED IN YEAR			CHANGE IN VALUE OF PRIOR YEARS’ AWARDS THAT FAILED TO MEET VESTING CONDITIONS		VALUE OF DIVIDENDS OR OTHER EARNINGS PAID ON EQUITY AWARDS NOT OTHERWISE REFLECTED IN FAIR VALUE OR TOTAL COMPENSATION		EQUITY VALUE INCLUDED IN CAP
2023	$	11,424,080	$	2,990,993	$	(1,565,280	)	$	—	$	726,471	$	13,576,265
2022		10,498,900		18,907,561		1,709,315			—		451,348		31,567,125
2021		10,126,728		16,198,513		332,207			—		244,868		26,902,316
2020		8,504,268		1,767,331		(2,062,071	)		—		211,985		8,421,513

Note: The increased equity value included in CAP in 2021 and 2022 is primarily due to more than a 64 percent increase in the stock price from December 31, 2020, to December 30, 2022 and increases in the estimated performance-based RSU results of outstanding awards. Performance-based RSUs make up the largest component of the PEO’s annual equity award.

The Non-PEO NEOs calculation of CAP:

YEAR	SCT TOTAL COMP		DEDUCTIONS FROM SCT TOTAL FOR EQUITY AWARDS			DEDUCTIONS FROM SCT FOR PENSION BENEFITS			ADDITIONS TO SCT TOTAL FOR EQUITY AWARDS		ADDITIONS TO SCT FOR PENSION BENEFITS		COMPENSATION ACTUALLY PAID
2023	$	4,887,359	$	(2,850,000	)	$	(577,304	)	$	3,691,176	$	237,800	$	5,389,030
2022		4,323,372		(2,600,006	)		—			7,220,623		144,882		9,088,871
2021		4,036,788		(2,275,002	)		(67,160	)		7,718,867		213,113		9,626,605
2020		4,007,220		(2,350,001	)		(258,967	)		2,688,674		221,318		4,308,244

The following details the sources of the CAP additions related to the Non-PEO NEO’s Equity Awards:

YEAR	FAIR VALUE OF CURRENT YEAR AWARDS OUTSTANDING AT YEAR END		CHANGE IN VALUE OF PRIOR YEARS’ AWARDS OUTSTANDING AT YEAR END		CHANGE IN VALUE OF PRIOR YEARS’ AWARDS THAT VESTED IN YEAR			CHANGE IN VALUE OF PRIOR YEARS’ AWARDS THAT FAILED TO MEET VESTING CONDITIONS		VALUE OF DIVIDENDS OR OTHER EARNINGS PAID ON EQUITY AWARDS NOT OTHERWISE REFLECTED IN FAIR VALUE OR TOTAL COMPENSATION		EQUITY VALUE INCLUDED IN CAP
2023	$	3,246,052	$	588,212	$	(373,961	)	$	—	$	230,873	$	3,691,176
2022		2,919,316		3,759,353		410,716			—		131,238		7,220,623
2021		2,546,120		4,926,525		130,284			—		115,937		7,718,867
2020		2,605,503		363,249		(439,842	)		—		159,764		2,688,674

Company Selected Measure Name

Adjusted EBITDA

Named Executive Officers, Footnote

The non-PEO NEOs for 2020 and 2021 include Mr. Dunn, Mr. Zamarin, Mr. Chandler, and Mr. Bennett. The non-PEO NEOs for 2022 and 2023 include Mr. Dunn, Mr. Zamarin, Mr. Porter, and Mr. Wilson.

PEO Total Compensation Amount

$ 17,548,802

$ 13,887,596

$ 13,759,533

$ 12,171,958

PEO Actually Paid Compensation Amount

$ 18,483,038

36,717,682

32,332,070

12,835,709

Adjustment To PEO Compensation, Footnote

The PEO calculation of CAP:

YEAR	SCT TOTAL COMP		DEDUCTIONS FROM SCT TOTAL FOR EQUITY AWARDS			DEDUCTIONS FROM SCT FOR PENSION BENEFITS			ADDITIONS TO SCT TOTAL FOR EQUITY AWARDS		ADDITIONS TO SCT FOR PENSION BENEFITS		COMPENSATION ACTUALLY PAID
2023	$	17,548,802	$	(9,999,977	)	$	(3,453,819	)	$	13,576,265	$	811,767	$	18,483,038
2022		13,887,596		(9,300,000	)		—			31,567,125		562,961		36,717,682
2021		13,759,533		(9,000,015	)		—			26,902,316		670,236		32,332,070
2020		12,171,958		(7,500,010	)		(943,581	)		8,421,513		685,829		12,835,709

The following details the sources of the CAP additions related to the PEO’s Equity Awards:

YEAR	FAIR VALUE OF CURRENT YEAR AWARDS OUTSTANDING AT YEAR END		CHANGE IN VALUE OF PRIOR YEARS’ AWARDS OUTSTANDING AT YEAR END		CHANGE IN VALUE OF PRIOR YEARS’ AWARDS THAT VESTED IN YEAR			CHANGE IN VALUE OF PRIOR YEARS’ AWARDS THAT FAILED TO MEET VESTING CONDITIONS		VALUE OF DIVIDENDS OR OTHER EARNINGS PAID ON EQUITY AWARDS NOT OTHERWISE REFLECTED IN FAIR VALUE OR TOTAL COMPENSATION		EQUITY VALUE INCLUDED IN CAP
2023	$	11,424,080	$	2,990,993	$	(1,565,280	)	$	—	$	726,471	$	13,576,265
2022		10,498,900		18,907,561		1,709,315			—		451,348		31,567,125
2021		10,126,728		16,198,513		332,207			—		244,868		26,902,316
2020		8,504,268		1,767,331		(2,062,071	)		—		211,985		8,421,513

Note: The increased equity value included in CAP in 2021 and 2022 is primarily due to more than a 64 percent increase in the stock price from December 31, 2020, to December 30, 2022 and increases in the estimated performance-based RSU results of outstanding awards. Performance-based RSUs make up the largest component of the PEO’s annual equity award.

Non-PEO NEO Average Total Compensation Amount

$ 4,887,359

4,323,372

4,036,788

4,007,220

Non-PEO NEO Average Compensation Actually Paid Amount

$ 5,389,030

9,088,871

9,626,605

4,308,244

Adjustment to Non-PEO NEO Compensation Footnote

The Non-PEO NEOs calculation of CAP:

YEAR	SCT TOTAL COMP		DEDUCTIONS FROM SCT TOTAL FOR EQUITY AWARDS			DEDUCTIONS FROM SCT FOR PENSION BENEFITS			ADDITIONS TO SCT TOTAL FOR EQUITY AWARDS		ADDITIONS TO SCT FOR PENSION BENEFITS		COMPENSATION ACTUALLY PAID
2023	$	4,887,359	$	(2,850,000	)	$	(577,304	)	$	3,691,176	$	237,800	$	5,389,030
2022		4,323,372		(2,600,006	)		—			7,220,623		144,882		9,088,871
2021		4,036,788		(2,275,002	)		(67,160	)		7,718,867		213,113		9,626,605
2020		4,007,220		(2,350,001	)		(258,967	)		2,688,674		221,318		4,308,244

The following details the sources of the CAP additions related to the Non-PEO NEO’s Equity Awards:

YEAR	FAIR VALUE OF CURRENT YEAR AWARDS OUTSTANDING AT YEAR END		CHANGE IN VALUE OF PRIOR YEARS’ AWARDS OUTSTANDING AT YEAR END		CHANGE IN VALUE OF PRIOR YEARS’ AWARDS THAT VESTED IN YEAR			CHANGE IN VALUE OF PRIOR YEARS’ AWARDS THAT FAILED TO MEET VESTING CONDITIONS		VALUE OF DIVIDENDS OR OTHER EARNINGS PAID ON EQUITY AWARDS NOT OTHERWISE REFLECTED IN FAIR VALUE OR TOTAL COMPENSATION		EQUITY VALUE INCLUDED IN CAP
2023	$	3,246,052	$	588,212	$	(373,961	)	$	—	$	230,873	$	3,691,176
2022		2,919,316		3,759,353		410,716			—		131,238		7,220,623
2021		2,546,120		4,926,525		130,284			—		115,937		7,718,867
2020		2,605,503		363,249		(439,842	)		—		159,764		2,688,674

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

Tabular List, Table

The four metrics on the following table represent an unranked list of the most important performance measures used by the Company to align compensation with Company performance.

MOST IMPORTANT PERFORMANCE METRICS IN 2023

Adjusted EBITDA

Available Funds From Operations (AFFO) Per Share

Relative Total Shareholder Return (TSR)

Return on Capital Employed (ROCE)

Total Shareholder Return Amount

$ 190.37

170.05

127.92

92.4

Peer Group Total Shareholder Return Amount

131.11

122.58

106.1

79.13

Net Income (Loss)

$ 3,303,000,000

$ 2,117,000,000

$ 1,562,000,000

$ 198,000,000

Company Selected Measure Amount

6,779,000,000

6,418,000,000

5,635,000,000

5,105,000,000

PEO Name

Mr. Armstrong

Measure:: 1

Pay vs Performance Disclosure

Name

Adjusted EBITDA

Non-GAAP Measure Description

Adjusted EBITDA is a non-GAAP measure. A reconciliation of these non-GAAP financial measures to their nearest GAAP comparable financial measure is included in the appendix.

Measure:: 2

Pay vs Performance Disclosure

Name

Available Funds From Operations (AFFO) Per Share

Measure:: 3

Pay vs Performance Disclosure

Name

Relative Total Shareholder Return (TSR)

Measure:: 4

Pay vs Performance Disclosure

Name

Return on Capital Employed (ROCE)

PEO | DEDUCTIONS FROM SCT TOTAL FOR EQUITY AWARDS [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (9,999,977)

$ (9,300,000)

$ (9,000,015)

$ (7,500,010)

PEO | DEDUCTIONS FROM SCT FOR PENSION BENEFITS [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(3,453,819)

(943,581)

PEO | ADDITIONS TO SCT TOTAL FOR EQUITY AWARDS [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

13,576,265

31,567,125

26,902,316

8,421,513

PEO | ADDITIONS TO SCT FOR PENSION BENEFITS [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

811,767

562,961

670,236

685,829

PEO | EQUITY AWARDS ADJUSTMENTS FAIR VALUE OF CURRENT YEAR AWARDS OUTSTANDING AT YEAR END [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

11,424,080

10,498,900

10,126,728

8,504,268

PEO | EQUITY AWARDS ADJUSTMENTS CHANGE IN VALUE OF PRIOR YEARS' AWARDS OUTSTANDING AT YEAR END [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

2,990,993

18,907,561

16,198,513

1,767,331

PEO | EQUITY AWARDS ADJUSTMENTS CHANGE IN VALUE OF PRIOR YEARS' AWARDS THAT VESTED IN YEAR [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(1,565,280)

1,709,315

332,207

(2,062,071)

PEO | EQUITY AWARDS ADJUSTMENTS VALUE OF DIVIDENDS OR OTHER EARNINGS PAID ON EQUITY AWARDS NOT OTHERWISE REFLECTED IN FAIR VALUE OR TOTAL COMPENSATION [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

726,471

451,348

244,868

211,985

Non-PEO NEO | DEDUCTIONS FROM SCT TOTAL FOR EQUITY AWARDS [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(2,850,000)

(2,600,006)

(2,275,002)

(2,350,001)

Non-PEO NEO | DEDUCTIONS FROM SCT FOR PENSION BENEFITS [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(577,304)

(67,160)

(258,967)

Non-PEO NEO | ADDITIONS TO SCT TOTAL FOR EQUITY AWARDS [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,691,176

7,220,623

7,718,867

2,688,674

Non-PEO NEO | ADDITIONS TO SCT FOR PENSION BENEFITS [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

237,800

144,882

213,113

221,318

Non-PEO NEO | EQUITY AWARDS ADJUSTMENTS FAIR VALUE OF CURRENT YEAR AWARDS OUTSTANDING AT YEAR END [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,246,052

2,919,316

2,546,120

2,605,503

Non-PEO NEO | EQUITY AWARDS ADJUSTMENTS CHANGE IN VALUE OF PRIOR YEARS' AWARDS OUTSTANDING AT YEAR END [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

588,212

3,759,353

4,926,525

363,249

Non-PEO NEO | EQUITY AWARDS ADJUSTMENTS CHANGE IN VALUE OF PRIOR YEARS' AWARDS THAT VESTED IN YEAR [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(373,961)

410,716

130,284

(439,842)

Non-PEO NEO | EQUITY AWARDS ADJUSTMENTS VALUE OF DIVIDENDS OR OTHER EARNINGS PAID ON EQUITY AWARDS NOT OTHERWISE REFLECTED IN FAIR VALUE OR TOTAL COMPENSATION [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 230,873

$ 131,238

$ 115,937

$ 159,764