EQUITY METHOD INTERESTS (Tables)

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Summary of Equity Method Investment Information

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

	For the Nine Months Ended September 30,
	2020			2019(1)
	(In millions)
Operating revenues	$	531		$	103
Operating expenses	264			62
Operating income	267			41
Net income	217			34
Other comprehensive loss	(1		)	(11		)

(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 nine months ended September 30, 2019 for comparability.

	Interest		September 30, 2020		December 31, 2019
			(In millions)
Gulf Coast Express Pipeline LLC	16.0	%	$	284	$	291
EPIC Crude Holdings, LP	15.0	%	182		163
Permian Highway Pipeline LLC	26.7	%	576		311
Breviloba, LLC (Shin Oak Pipeline)	33.0	%	482		493
			$	1,524	$	1,258

The following table presents the activity in Altus’ equity method interests for the nine months ended September 30, 2020:

	Gulf Coast Express Pipeline LLC			EPIC Crude Holdings, LP			Permian Highway Pipeline LLC		Breviloba, LLC			Total
	(In millions)
Balance at December 31, 2019	$	291		$	163		$	311	$	493		$	1,258
Capital contributions	1			27			258		—			286
Distributions	(39		)	—			—		(35		)	(74		)
Capitalized interest	—			—			7		—			7
Equity income (loss), net	31			(8		)	—		24			47
Balance at September 30, 2020	$	284		$	182		$	576	$	482		$	1,524