EQUITY METHOD INTERESTS (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Summary of Equity Method Investment Information

	Interest		2020		2019
			(In millions)
Gulf Coast Express Pipeline LLC	16.0	%	$	284	$	291
EPIC Crude Holdings, LP	15.0	%	176		163
Permian Highway Pipeline LLC	26.7	%	615		311
Shin Oak Pipeline (Breviloba, LLC)	33.0	%	480		493
Total Altus equity method interests			$	1,555	$	1,258

The following table presents the activity in Altus’ equity method interests for the years ended December 31, 2020 and 2019:

	Gulf Coast Express Pipeline LLC		EPIC Crude Holdings, LP		Permian Highway Pipeline LLC		Breviloba, LLC		Total
	(In millions)
Balance at December 31, 2018	$	91	$	—	$	—	$	—	$	91
Acquisitions	15		52		162		442		671
Capital contributions	184		123		147		47		501
Distributions	(16)						(9)		(25)
Capitalized interest(1)	—		—		2		—		2
Equity income (loss), net	17		(11)		—		13		19
Accumulated other comprehensive loss	—		(1)		—		—		(1)
Balance at December 31, 2019	291		163		311		493		1,258
Capital contributions	2		29		296		—		327
Distributions	(51)		—		—		(46)		(97)
Capitalized interest(1)	—		—		8		—		8
Equity income (loss), net	42		(16)		—		33		59
Balance at December 31, 2020	$	284	$	176	$	615	$	480	$	1,555

(1)Altus’ proportionate share of the PHP construction costs is funded with Altus’ revolving credit facility. Accordingly, Altus capitalized $8 million and $2 million of related interest expense during 2020 and 2019, respectively, which are included in the basis of the PHP equity interest.

The following presents summarized information of combined statement of operations for Altus’ equity method interests (on a 100 percent basis):

	For the Year Ended December 31,
	2020		2019(1)		2018(2)
	(In millions)
Operating revenues	$	707	$	302	$	3
Operating income (loss)	331		121		(6)
Net income (loss)	256		120		(6)
Other comprehensive loss	3		(8)		—

(1)Although Altus’ interests in EPIC Crude Holdings, LP, Permian Highway Pipeline LLC, and Breviloba, LLC were acquired in March, May, and July 2019, respectively, the combined financial results are presented for the year ended December 31, 2019 for comparability.

(2)Although Altus’ interest in Gulf Coast Express Pipeline LLC was acquired in December 2018, the combined financial results are presented for the year ended December 31, 2018 for comparability.

The following presents summarized combined balance sheet information for Altus’ equity method interests (on a 100 percent basis) as of December 31:

	2020		2019
	(In millions)
Current assets	$	260	$	441
Noncurrent assets	7,678		6,435
Total assets	$	7,938	$	6,876
Current liabilities	$	206	$	478
Noncurrent liabilities	1,191		958
Equity	6,541		5,440
Total liabilities and equity	$	7,938	$	6,876