EQUITY METHOD INTERESTS (Tables)

3 Months Ended

Mar. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Summary of Equity Method Investment Information

The table below presents the ownership percentages held by the Company and associated carrying values for each entity:

	Interest	March 31, 2021		December 31, 2020
		(In millions)
Gulf Coast Express Pipeline, LLC	16.0%	$	281	$	284
EPIC Crude Holdings, LP	15.0%	172		176
Permian Highway Pipeline, LLC	26.7%	639		615
Shin Oak Pipeline (Breviloba, LLC)	33.0%	475		480
Total Altus equity method interests		$	1,567	$	1,555

The following table presents the activity in Altus’ equity method interests for the three months ended March 31, 2021:

	Gulf Coast Express Pipeline LLC		EPIC Crude Holdings, LP		Permian Highway Pipeline LLC		Breviloba, LLC		Total
	(In millions)
Balance at December 31, 2020	$	284	$	176	$	615	$	480	$	1,555
Capital contributions	—		—		21		—		21
Distributions	(12)		—		(8)		(11)		(31)
Equity income (loss), net(1)	9		(5)		11		6		21
Accumulated other comprehensive income	—		1		—		—		1
Balance at March 31, 2021	$	281	$	172	$	639	$	475	$	1,567

(1)As of March 31, 2021, the amount of consolidated earnings, net of amortization basis differences, which represents undistributed earnings, was $3 million from Permian Highway Pipeline LLC.

The following table presents summarized selected income statement data for Altus’ equity method interests (on a 100 percent basis):

	For the Three Months Ended March 31,
	2021		2020
	(In millions)
Operating revenues	$	254	$	176
Operating income	112		86
Net income	89		77
Other comprehensive income (loss)	4		(8)