XML 41 R29.htm IDEA: XBRL DOCUMENT v3.22.0.1
Related Party and Affiliate Transactions
 12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Party And Affiliate Transactions Related Party and Affiliate Transactions
The Company and Lotte have a joint venture, LACC, to design, build and operate an ethylene facility with 2.2 billion pounds per year of ethylene production capacity. See Note 9 for details of the Company's transactions with LACC.
The Company leases office space for management and administrative services from an affiliate of the Company's principal stockholder. For each of the years ended December 31, 2021, 2020 and 2019, the Company incurred lease payments of approximately $3.
Cypress Interstate Pipeline L.L.C., a natural gas liquids pipeline joint venture company in which the Company owns a 50% equity stake, transports natural gas liquid feedstocks to the Company's Lake Charles complex through its pipeline. The Company accounts for its investments in Cypress Interstate Pipeline L.L.C. under the equity method of accounting. The investment in Cypress Interstate Pipeline L.L.C. at December 31, 2021 and 2020 was $7 and $7, respectively. For the years ended December 31, 2021, 2020 and 2019, the Company incurred pipeline lease service fees of approximately $14, $13 and $14, respectively, payable to this joint venture for usage of the pipeline. The amounts due to this joint venture were $1 and $1 at December 31, 2021 and 2020, respectively.
The Company owns an approximately 20% interest in both YNCORIS GmbH & Co. KG (formerly known as InfraServ Knapsack GmbH & Co. KG) and InfraServ Gendorf GmbH & Co. KG (collectively "Infraserv"). The Company accounts for its investments in Infraserv under the equity method of accounting. The Company has service agreements with these entities, including contracts to provide electricity, technical and leasing services to certain of the Company's production facilities in Germany. The investment in Infraserv was $57 and $64 at December 31, 2021 and 2020, respectively. For the years ended December 31, 2021, 2020 and 2019, the Company incurred charges aggregating approximately $174, $149 and $155, respectively, for these services. The amounts accrued for these related parties were approximately $43 and $41 at December 31, 2021 and 2020, respectively.
Dividends received from equity method investments were $15, $12 and $11 for the years ended December 31, 2021, 2020 and 2019, respectively.
One of the Company's directors serves as Chairman, Chief Executive Officer and President of American Air Liquide Holdings, Inc. and Executive Vice President of the Air Liquide Group ("Air Liquide"). The Company purchased oxygen, nitrogen and utilities and leased cylinders from various affiliates of American Air Liquide Holdings, Inc. including Airgas and subsidiaries that were acquired in 2016 by Air Liquide aggregating approximately $39, $34 and $32 for the years ended December 31, 2021, 2020 and 2019, respectively. The Company also sold certain utilities to Air Liquide aggregating approximately $8, $7 and $7 during the years ended December 31, 2021, 2020 and 2019, respectively. The amounts payable to Air Liquide were $3 and $3 at December 31, 2021 and 2020, respectively, and the amounts receivable from Air Liquide were $1 and $1 at December 31, 2021 and 2020, respectively.