INVESTMENTS IN UNCONSOLIDATED AFFILIATES INVESTMENTS IN UNCONSOLIDATED AFFILATES (Notes)

9 Months Ended

Sep. 30, 2015

Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

INVESTMENTS IN UNCONSOLIDATED AFFILIATES

The Company’s investment in Regency consisted of 31.4 million Regency common units and 6.3 million Regency Class F units at December 31, 2014. In connection with the merger of ETP and Regency in April 2015, the Regency common units and Regency Class F units converted to 15.5 million ETP common units. The Company’s investment was accounted for using the equity method. Effective September 1, 2015, the Company exchanged these ETP common units, along with ETP common units that had been received in a previous transaction, for a note receivable from a subsidiary of ETP in the amount of $1.37 billion. The note receivable accrues interest annually at 4.75% and is due on September 1, 2035. In connection with this transaction, the Company also recorded a reduction in goodwill of $229 million and net deferred tax liabilities of $825 million, which amounts were associated with the exchanged ETP common units as a result of previous transactions whereby the Company had acquired ETP common units (and previously, Regency common units and Class F units) in exchange for other assets.

The following table presents aggregated selected income statement data for ETP (on a 100% basis for all periods presented):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Revenue	$	6,601	$	14,933	$	28,467	$	42,048
Operating income	576		810		2,072		2,284
Net income	393		514		1,500		1,544

The Company has other equity method investments which were not, individually or in the aggregate, significant to our consolidated financial statements.