Related Party Transactions

12 Months Ended

Dec. 31, 2013

RELATED PARTY TRANSACTIONS:

The following table provides a summary of the related party balances included in the consolidated balance sheets:



	December 31,
	2013		2012
Non-current notes receivable from related party — Southern Union	$	532	$	831

Accounts receivable from related companies ⁽¹⁾	$	4	$	14

Cash advances from affiliate	$	120	$	—

Accounts payable to related companies:
Southern Union — other ⁽²⁾	$	—	$	26
Other ⁽³⁾	14		1
	$	14	$	27


⁽¹⁾	Accounts receivable from related companies reflected above primarily related to services provided for ETE, ETP, Citrus and other affiliates.


⁽²⁾	Accounts payable from related companies reflected above primarily related to payroll funding, including merger-related expenses, provided by Southern Union.


⁽³⁾	Accounts payable from related companies reflected above primarily related to various administrative and operating costs paid by ETP and other affiliate companies on behalf of the Company.

The following tables provide a summary of related party activity included in our consolidated statements of operations:



	Successor			Predecessor
	Year Ended December 31, 2013	Period from Acquisition (March 26, 2012) to December 31, 2012		Period from January 1, 2012 to March 25, 2012		Year Ended December 31, 2011
Transportation and storage of natural gas ⁽¹⁾	31	7		$	1	$	3
Operating, maintenance and general	59	61	⁽²⁾	14		58
Interest income — affiliates	2	2		2		9


⁽¹⁾	Represents transportation and storage revenues with ETC and Sunoco, subsidiaries of ETP (in the successor periods) and MGE, a division of Southern Union that was sold in the third quarter of 2013.


⁽²⁾	Primarily represents corporate charges for employee expenses related to the ETE Merger offset by expenses attributable to services provided by Panhandle on behalf of other affiliate companies.

Pursuant to a demand note with Southern Union under a cash management program, the Company loans excess cash, net of repayments, to Southern Union. The Company is credited with interest on the note at a one month LIBOR rate. Given the uncertainties regarding the timing of the Company’s cash flows, including financings, capital expenditures and operating cash flows, the Company has reported the note receivable as a non-current asset. The Company has access to the funds via the demand note and expects repayment to ultimately occur to primarily fund capital expenditures or debt retirements.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References+ Details