XML 23 R3.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Total revenue $ 3,200.4 $ 2,733.1 $ 2,322.0
Other operating income (expense) 5.3 2.8 0.1
Earnings of non-controlled entities 147.4 154.4 153.3
Costs and expenses:      
Operating 592.1 569.7 587.8
Cost of product sales 1,119.4 780.0 468.2
Depreciation, amortization and impairment 292.8 227.9 243.1
General and administrative 240.7 206.3 171.2
Total costs and expenses 2,245.0 1,783.9 1,470.3
Operating profit 1,108.1 1,106.4 1,005.1
Interest expense 229.8 228.1 234.1
Interest capitalized (1.8) (1.7) (11.3)
Interest income (1.2) (0.5) (1.0)
Gain on disposition of assets (0.9) (75.0) (12.9)
Other (income) expense 20.3 20.9 5.2
Income from continuing operations before provision for income taxes 861.9 934.6 791.0
Provision for income taxes 2.7 2.3 2.9
Income from continuing operations 859.2 932.3 788.1
Income from discontinued operations (including gain on disposition of assets of $164.0 million in 2022) 177.2 49.7 28.9
Net income $ 1,036.4 $ 982.0 $ 817.0
Earnings per common unit - Basic      
Continuing operations (in dollars per share) $ 4.10 $ 4.24 $ 3.49
Discontinued operations (in dollars per share) 0.85 0.23 0.13
Net income per common unit (in dollars per share) 4.95 4.47 3.62
Earnings per common unit - Diluted      
Continuing operations (in dollars per share) 4.10 4.24 3.49
Discontinued operations (in dollars per share) 0.85 0.23 0.13
Net income per common unit (in dollars per share) $ 4.95 $ 4.47 $ 3.62
Weighted average number of common units outstanding used for basic net income per unit calculation (in shares) 209.4 219.6 225.5
Weighted average number of common units outstanding used for diluted net income per unit calculation (in shares) 209.6 219.8 225.5
Transportation and terminals revenue      
Total revenue $ 1,875.8 $ 1,798.9 $ 1,743.3
Product sales revenue      
Total revenue 1,302.4 913.0 557.5
Affiliate management fee revenue      
Total revenue $ 22.2 $ 21.2 $ 21.2