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Related Party Transactions (Notes)
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions

Affiliate Balances

The following tables summarize our affiliate balance sheet balances and income statement activity (in millions):
 
December 31,
 
2015
 
2014
Balance sheet location
 
 
 
Accounts receivable, net
$
25

 
$
31

Other current assets
36

 
3

Deferred charges and other assets

 
46

 
$
61

 
$
80

 
 
 
 
Current portion of debt(a)
$
6

 
$
6

Accounts payable
22

 
22

Other current liabilities
10

 

Long-term debt(a)
167

 
172

 
$
205

 
$
200

_______
(a)
Includes financing obligations payable to WYCO (See Note 9).

 
Year Ended December 31,
 
2015
 
2014
 
2013
Income statement location
 
 
 
 
 
Services
$
72

 
$
29

 
$
31

Product sales and other
71

 
86

 
36

 
$
143

 
$
115

 
$
67

 
 
 
 
 
 
Cost of sales
$
60

 
$
74

 
$
17

General and administrative
55

 
57

 
57


Notes Receivable

Plantation
We and ExxonMobil Corporation have a term loan agreement covering a note receivable due from Plantation. We own a 51.17% equity interest in Plantation and our proportionate share of the outstanding principal amount of the note receivable was $35 million and $47 million as of December 31, 2015 and 2014, respectively. The note bears interest at the rate of 4.25% per annum and provides for semiannual payments of principal and interest on December 31 and June 30 each year, with a final principal payment for our remaining portion of the note due on July 20, 2016. We included $35 million and $1 million of the note receivable balance within “Other current assets” on our accompanying balance sheets as of December 31, 2015 and 2014, respectively, and we included $46 million as of December 31, 2014 within “Deferred charges and other assets.”
Subsequent Event

MEP Loan Agreement

On February 3, 2016 we renewed our loan agreement for an additional one-year term with MEP, our 50%-owned equity investee. The loan agreement allows us, at our sole option, to make loans from time to time to MEP to fund its working capital needs and for other LLC purposes. Each individual loan must be in an amount not less than $2 million, and the aggregate loan balance outstanding must not exceed $40 million. Borrowings under the loan agreement bear interest at a rate of one month LIBOR plus 1.50%, and all borrowings can be prepaid before maturity without penalty or premium. As of both December 31, 2015 and 2014 there was no amount outstanding pursuant to this loan agreement.