Revenues and Accounts Receivable (Tables)
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9 Months Ended |
Sep. 30, 2019 |
Disaggregation of Revenue [Line Items] |
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Disaggregation of Revenue |
The following tables present the reconciliation of our revenues from contracts with customers to segment revenues and total revenues as disclosed in our Condensed Consolidated Statements of Operations (in millions):
| | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2019 | | Transportation | | Facilities | | Supply and Logistics | | Total | Revenues from contracts with customers | | $ | 590 |
| | $ | 281 |
| | $ | 7,387 |
| | $ | 8,258 |
| Other items in revenues | | 7 |
| | 10 |
| | 155 |
| | 172 |
| Total revenues of reportable segments | | $ | 597 |
| | $ | 291 |
| | $ | 7,542 |
| | $ | 8,430 |
| Intersegment revenues | | | | | | | | (544 | ) | Total revenues | | | | | | | | $ | 7,886 |
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| | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2018 | | Transportation | | Facilities | | Supply and Logistics | | Total | Revenues from contracts with customers | | $ | 496 |
| | $ | 285 |
| | $ | 8,534 |
| | $ | 9,315 |
| Other items in revenues | | 2 |
| | 4 |
| | (51 | ) | | (45 | ) | Total revenues of reportable segments | | $ | 498 |
| | $ | 289 |
| | $ | 8,483 |
| | $ | 9,270 |
| Intersegment revenues | | | | | | | | (478 | ) | Total revenues | | | | | | | | $ | 8,792 |
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| | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2019 | | Transportation | | Facilities | | Supply and Logistics | | Total | Revenues from contracts with customers | | $ | 1,685 |
| | $ | 843 |
| | $ | 23,096 |
| | $ | 25,624 |
| Other items in revenues | | 27 |
| | 37 |
| | 384 |
| | 448 |
| Total revenues of reportable segments | | $ | 1,712 |
| | $ | 880 |
| | $ | 23,480 |
| | $ | 26,072 |
| Intersegment revenues | | | | | | | | (1,557 | ) | Total revenues | | | | | | | | $ | 24,515 |
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| | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2018 | | Transportation | | Facilities | | Supply and Logistics | | Total | Revenues from contracts with customers | | $ | 1,416 |
| | $ | 845 |
| | $ | 24,832 |
| | $ | 27,093 |
| Other items in revenues | | 11 |
| | 21 |
| | (456 | ) | | (424 | ) | Total revenues of reportable segments | | $ | 1,427 |
| | $ | 866 |
| | $ | 24,376 |
| | $ | 26,669 |
| Intersegment revenues | | | | | | | | (1,400 | ) | Total revenues | | | | | | | | $ | 25,269 |
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Contracts with customers, change in contract liability balance |
The following is a reconciliation of trade accounts receivable from revenues from contracts with customers to total Trade accounts receivable and other receivables, net as presented on our Condensed Consolidated Balance Sheets (in millions):
| | | | | | | | | | September 30, 2019 | | December 31, 2018 | Trade accounts receivable arising from revenues from contracts with customers | $ | 2,628 |
| | $ | 2,277 |
| Other trade accounts receivables and other receivables (1) | 3,076 |
| | 2,732 |
| Impact due to contractual rights of offset with counterparties | (2,792 | ) | | (2,555 | ) | Trade accounts receivable and other receivables, net | $ | 2,912 |
| | $ | 2,454 |
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(1) The balance is comprised primarily of accounts receivable associated with buy/sell arrangements that are not within the scope of Topic 606. The following table presents the change in the contract liability balance during the nine months ended September 30, 2019 (in millions):
| | | | | | | | Contract Liabilities | Balance at December 31, 2018 | | $ | 338 |
| Amounts recognized as revenue | | (226 | ) | Additions | | 82 |
| Other | | (1 | ) | Balance at September 30, 2019 | | $ | 193 |
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Remaining Performance Obligations |
The following table presents the amount of consideration associated with remaining performance obligations for the population of contracts with external customers meeting the presentation requirements as of September 30, 2019 (in millions):
| | | | | | | | | | | | | | | | | | | | | | | | | | Remainder of 2019 | | 2020 | | 2021 | | 2022 | | 2023 | | 2024 and Thereafter | Pipeline revenues supported by minimum volume commitments and capacity agreements (1) | $ | 41 |
| | $ | 162 |
| | $ | 171 |
| | $ | 169 |
| | $ | 167 |
| | $ | 849 |
| Storage, terminalling and throughput agreement revenues | 114 |
| | 369 |
| | 270 |
| | 211 |
| | 176 |
| | 483 |
| Total | $ | 155 |
| | $ | 531 |
| | $ | 441 |
| | $ | 380 |
| | $ | 343 |
| | $ | 1,332 |
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| | (1) | Calculated as volumes committed under contracts multiplied by the current applicable tariff rate. |
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Supply and Logistics |
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Disaggregation of Revenue [Line Items] |
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Disaggregation of Revenue |
The following tables present our Supply and Logistics segment, Transportation segment and Facilities segment revenues from contracts with customers disaggregated by type of activity (in millions):
| | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2019 | | 2018 | | 2019 | | 2018 | Supply and Logistics segment revenues from contracts with customers | | | | | | | | Crude oil transactions | $ | 7,185 |
| | $ | 7,978 |
| | $ | 21,716 |
| | $ | 22,651 |
| NGL and other transactions | 202 |
| | 556 |
| | 1,380 |
| | 2,181 |
| Total Supply and Logistics segment revenues from contracts with customers | $ | 7,387 |
| | $ | 8,534 |
| | $ | 23,096 |
| | $ | 24,832 |
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Transportation |
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Disaggregation of Revenue [Line Items] |
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Disaggregation of Revenue |
| | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2019 | | 2018 | | 2019 | | 2018 | Transportation segment revenues from contracts with customers | | | | | | | | Tariff activities: | | | | | | | | Crude oil pipelines | $ | 532 |
| | $ | 435 |
| | $ | 1,504 |
| | $ | 1,237 |
| NGL pipelines | 25 |
| | 25 |
| | 75 |
| | 76 |
| Total tariff activities | 557 |
| | 460 |
| | 1,579 |
| | 1,313 |
| Trucking | 33 |
| | 36 |
| | 106 |
| | 103 |
| Total Transportation segment revenues from contracts with customers | $ | 590 |
| | $ | 496 |
| | $ | 1,685 |
| | $ | 1,416 |
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Facilities |
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Disaggregation of Revenue [Line Items] |
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Disaggregation of Revenue |
| | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2019 | | 2018 | | 2019 | | 2018 | Facilities segment revenues from contracts with customers | | | | | | | | Crude oil, NGL and other terminalling and storage | $ | 174 |
| | $ | 174 |
| | $ | 523 |
| | $ | 511 |
| NGL and natural gas processing and fractionation | 87 |
| | 87 |
| | 262 |
| | 278 |
| Rail load / unload | 20 |
| | 24 |
| | 58 |
| | 56 |
| Total Facilities segment revenues from contracts with customers | $ | 281 |
| | $ | 285 |
| | $ | 843 |
| | $ | 845 |
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