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Reportable Segments (Notes)
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Reportable Segments
16.  Reportable Segments
 
Our reportable business segments are:

•Natural Gas Pipelines—the ownership and operation of (i) major interstate and intrastate natural gas pipeline and storage systems; (ii) natural gas gathering systems and natural gas processing and treating facilities; (iii) NGL fractionation facilities and transportation systems; and (iv) LNG regasification, liquefaction and storage facilities;

•Products Pipelines—the ownership and operation of refined petroleum products, crude oil and condensate pipelines that primarily deliver, among other products, gasoline, diesel and jet fuel, crude oil and condensate to various markets, plus the ownership and/or operation of associated product terminals and petroleum pipeline transmix facilities;

•Terminals—the ownership and/or operation of (i) liquids and bulk terminal facilities located throughout the U.S. that store and handle various commodities including gasoline, diesel fuel, renewable fuel stocks, chemicals, ethanol, metals and petroleum coke; and (ii) Jones Act-qualified tankers;

•CO2—(i) the production, transportation and marketing of CO2 to oil fields that use CO2 as a flooding medium to increase recovery and production of crude oil from mature oil fields; (ii) ownership interests in and/or operation of oil fields and gasoline processing plants in West Texas; (iii) the ownership and operation of a crude oil pipeline system in West Texas; and (iv) the ownership and operation of RNG and LNG facilities in Indiana associated with our acquisition of Kinetrex in 2021 and the ownership and operation of GTE facilities in Michigan and Kentucky associated with our acquisition of NANR in 2022 (see Note 3).

We evaluate performance principally based on each segment’s EBDA, which excludes general and administrative expenses and corporate charges, interest expense, net, and income tax expense.  Our reportable segments are strategic business units that offer different products and services, and they are structured based on how our chief operating decision makers organize their
operations for optimal performance and resource allocation.  Each segment is managed separately because each segment involves different products and services and marketing strategies.

We consider each period’s earnings before all non-cash DD&A expenses to be an important measure of business segment performance for our reporting segments.  We account for intersegment sales at market prices, while we account for asset transfers at book value.

During 2022, 2021 and 2020, we did not have revenues from any single external customer that exceeded 10% of our consolidated revenues.
 
Financial information by segment follows: 
Year Ended December 31,
202220212020
(In millions)
Revenues   
Natural Gas Pipelines   
Revenues from external customers$12,659 $11,644 $7,222 
Intersegment revenues27 65 37 
Products Pipelines3,418 2,245 1,721 
Terminals 
Revenues from external customers1,789 1,712 1,719 
Intersegment revenues3 3 3 
CO2
1,334 1,009 1,038 
Corporate and intersegment eliminations(30)(68)(40)
Total consolidated revenues$19,200 $16,610 $11,700 
 Year Ended December 31,
202220212020
(In millions)
Operating expenses(a)   
Natural Gas Pipelines$8,562 $7,000 $3,457 
Products Pipelines2,391 1,239 779 
Terminals853 793 762 
CO2
554 289 404 
Corporate and intersegment eliminations(9)(34)(4)
Total consolidated operating expenses$12,351 $9,287 $5,398 
 Year Ended December 31,
 202220212020
(In millions)
Other expense (income)(b)   
Natural Gas Pipelines$(13)$1,597 $1,009 
Products Pipelines(12)— 21 
Terminals(14)32 (50)
CO2
(1)(8)950 
Corporate1 (4)— 
Total consolidated other expense (income)$(39)$1,617 $1,930 
 Year Ended December 31,
 202220212020
(In millions)
DD&A   
Natural Gas Pipelines$1,096 $1,099 $1,062 
Products Pipelines336 335 347 
Terminals458 440 438 
CO2
272 236 291 
Corporate24 25 26 
Total consolidated DD&A$2,186 $2,135 $2,164 
 Year Ended December 31,
 202220212020
(In millions)
Earnings from equity investments and amortization of excess cost of equity investments   
Natural Gas Pipelines$650 $435 $551 
Products Pipelines33 34 45 
Terminals14 15 22 
CO2
31 29 22 
Total consolidated equity earnings$728 $513 $640 
 Year Ended December 31,
 202220212020
(In millions)
Other, net-income (expense)   
Natural Gas Pipelines$(19)$216 $11 
Products Pipelines— 1 1 
Terminals8 3 13 
Corporate66 62 31 
Total consolidated other, net-income (expense)$55 $282 $56 
 Year Ended December 31,
 202220212020
(In millions)
Segment EBDA(c)   
Natural Gas Pipelines$4,801 $3,815 $3,483 
Products Pipelines1,107 1,064 977 
Terminals975 908 1,045 
CO2
819 760 (292)
Total Segment EBDA7,702 6,547 5,213 
DD&A(2,186)(2,135)(2,164)
Amortization of excess cost of equity investments(75)(78)(140)
General and administrative and corporate charges(593)(623)(653)
Interest, net(1,513)(1,492)(1,595)
Income tax expense(710)(369)(481)
Total consolidated net income$2,625 $1,850 $180 
 Year Ended December 31,
 202220212020
(In millions)
Capital expenditures   
Natural Gas Pipelines$666 $570 $945 
Products Pipelines— 122 122 
Terminals552 332 433 
CO2
371 230 186 
Corporate32 27 21 
Total consolidated capital expenditures$1,621 $1,281 $1,707 

December 31,
 20222021
(In millions)
Investments  
Natural Gas Pipelines$6,993 $6,887 
Products Pipelines445 465 
Terminals128 137 
CO2
87 89 
Total consolidated investments               $7,653 $7,578 

December 31,
 20222021
(In millions)
Other intangibles, net  
Natural Gas Pipelines$439 $557 
Products Pipelines777 868 
Terminals38 51 
CO2
555 202 
Total consolidated other intangibles, net              $1,809 $1,678 

December 31,
 20222021
(In millions)
Assets  
Natural Gas Pipelines$47,978 $47,746 
Products Pipelines8,985 9,088 
Terminals8,357 8,513 
CO2
3,449 2,843 
Corporate assets(d)1,309 2,226 
Total consolidated assets                                                                       $70,078 $70,416 
(a)Includes costs of sales, operations and maintenance expenses, and taxes, other than income taxes.
(b)Includes (gain) loss on divestitures and impairments, net and other income, net.
(c)Includes revenues, earnings from equity investments, and other, net, less operating expenses, (gain) loss on divestitures and impairments, net and other income, net.
(d)Includes cash and cash equivalents, margin and restricted deposits, certain prepaid assets and deferred charges, including income tax related assets, risk management assets related to debt fair value adjustments, corporate headquarters in Houston, Texas and miscellaneous corporate assets (such as information technology, telecommunications equipment and legacy balances) not allocated to our reportable segments.
We do not attribute interest and debt expense to any of our reportable business segments.  

Following is geographic information regarding the revenues and long-lived assets of our business:
 Year Ended December 31,
 202220212020
(In millions)
Revenues from external customers   
U.S.$19,036 $16,479 $11,625 
Mexico and other foreign164 131 75 
Total consolidated revenues from external customers$19,200 $16,610 $11,700 
December 31,
 202220212020
(In millions)
Long-term assets, excluding goodwill and other intangibles  
U.S.$44,425 $44,916 $46,384 
Mexico and other foreign75 78 81 
Canada1 1 1 
Total consolidated long-lived assets$44,501 $44,995 $46,466