QUARTERLY OPERATIONS Quarterly Operations (Tables)

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014



	Quarters Ended
	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015			Total
OPERATING REVENUES:
Transportation and storage of natural gas	$	149		$	123		$	121		$	135		$	528
Other	6			5			5			4			20
Total operating revenues	155			128			126			139			548
OPERATING EXPENSES:
Cost of natural gas and other energy	2			1			1			—			4
Operating and maintenance	53			50			56			57			216
General and administrative	12			11			12			7			42
Depreciation and amortization	35			35			31			32			133
Total operating expenses	102			97			100			96			395
OPERATING INOMCE (LOSS)	53			31			26			43			153
OTHER INCOME (EXPENSE):
Interest expense, net	(13		)	(12		)	(13		)	(12		)	(50		)
Equity in earnings (losses) of unconsolidated affiliates	4			(6		)	28			—			26
Interest income - affiliates	—			1			6			16			23
Other, net	(1		)	5			1			—			5
Total other income (expense),net	(10		)	(12		)	22			4			4
INCOME (LOSS) FROM BEFORE INCOME TAX EXPENSE	43			19			48			47			157
Income tax expense	12			—			23			17			52
NET INCOME (LOSS)	31			19			25			30			105
less: Net income (loss) attributable to noncontrolling interest	—			—			—			—			—
NET INCOME (LOSS) ATTRIBUTABLE TO PARTNERS	$	31		$	19		$	25		$	30		$	105



	As of
	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015

ASSETS
Current assets:
Cash and cash equivalents	$	47		$	65		$	30		$	3
Accounts receivable, net	51			40			41			48
Accounts receivable from related companies	42			54			120			172
Exchanges receivable	12			10			9			5
Inventories	83			106			99			113
Other current assets	13			13			15			9
Total current assets	248			288			314			350

Property, plant and equipment	3,403			3,428			3,456			3,338
Accumulated depreciation	(292		)	(319		)	(342		)	(286		)
Net property, plant and equipment	3,111			3,109			3,114			3,052

Investments in unconsolidated affiliates	1,428			1,404			15			15
Other non-current assets, net	110			116			127			122
Advances to affiliates	40			40			—			258
Note receivable from related party	40			40			1,369			574
Goodwill	1,152			1,152			923			923
Total assets	$	6,129		$	6,149		$	5,862		$	5,294

LIABILITIES AND PARTNERS' CAPITAL
Current liabilities:
Current maturities of long-term debt	$	1		$	1		$	1		$	1
Accounts payable and accrued liabilities	2			4			4			3
Accounts payable to related parties	39			34			63			125
Exchanges payable	76			91			83			94
Accrued interest	24			12			24			12
Customer advances and deposits	8			11			9			9
Other current liabilities	54			59			60			55
Total current liabilities	204			212			244			299

Long-term debt, less current maturities	1,184			1,178			1,172			1,165
Deferred income taxes	1,542			1,534			779			725
Advances from affiliates	—			—			566			—
Other non-current liabilities	279			284			289			222
Partners' capital:
Partners' capital	2,920			2,940			2,812			2,881
Accumulated other comprehensive income	—			1			1			2
Total partners' capital	2,920			2,941			2,813			2,883
Total liabilities and partners' capital	$	6,129		$	6,149		$	5,862		$	5,294



	Quarters Ended
	March 31, 2014			June 30, 2014			September 30, 2014			December 31, 2014			Total

OPERATING REVENUES:
Transportation and storage of natural gas	$	170		$	122		$	125		$	138		$	555
Other	8			6			7			5			26
Total operating revenues	178			128			132			143			581
OPERATING EXPENSES:
Cost of natural gas and other energy	—			2			1			—			3
Operating and maintenance	47			49			55			58			209
General and administrative	10			11			12			13			46
Depreciation and amortization	31			32			33			34			130
Total operating expenses	88			94			101			105			388
OPERATING INOMCE (LOSS)	90			34			31			38			193
OTHER INCOME (EXPENSE):
Interest expense, net	(12		)	(19		)	(15		)	(20		)	(66		)
Equity in earnings (losses) of unconsolidated affiliates	(8		)	6			9			(19		)	(12		)
Interest income - affiliates	5			7			5			6			23
Other, net	(4		)	2			1			6			5
Total other income (expense),net	(19		)	(4		)	—			(27		)	(50		)
INCOME (LOSS) FROM BEFORE INCOME TAX EXPENSE	71			30			31			11			143
Income tax expense	104			23			8			47			182
NET INCOME (LOSS)	(33		)	7			23			(36		)	(39		)
less: Net income (loss) attributable to noncontrolling interest	6			—			—			—			6
NET INOME (LOSS) ATTRIBUTABLE TO PARTNERS	$	(39	)	$	7		$	23		$	(36	)	$	(45	)



	As of
	March 31, 2014			June 30, 2014			September 30, 2014			December 31, 2014

ASSETS
Current assets:
Cash and cash equivalents	$	74		$	32		$	55		$	32
Accounts receivable, net	55			51			51			58
Accounts receivable from related companies	33			57			30			128
Exchanges receivable	62			45			17			11
Inventories	160			147			115			119
Other current assets	15			20			48			10
Total current assets	399			352			316			358

Property, plant and equipment	3,316			3,331			3,360			3,395
Accumulated depreciation	(192		)	(215		)	(243		)	(269		)
Net property, plant and equipment	3,124			3,116			3,117			3,126

Investments in unconsolidated affiliates	1,502			1,488			1,480			1,443
Other non-current assets, net	95			105			106			109
Advances to affiliates	—			—			—			—
Note receivable from related party	386			386			386			—
Goodwill	1,152			1,152			1,152			1,152
Total assets	$	6,658		$	6,599		$	6,557		$	6,188

LIABILITIES AND PARTNERS' CAPITAL
Current liabilities:
Current maturities of long-term debt	$	1		$	1		$	1		$	1
Accounts payable and accrued liabilities	2			5			4			6
Accounts payable to related parties	467			452			463			43
Exchanges payable	214			179			117			114
Accrued interest	24			12			24			12
Customer advances and deposits	16			21			13			10
Other current liabilities	52			57			66			56
Total current liabilities	776			727			688			242

Long-term debt, less current maturities	1,203			1,201			1,195			1,189
Deferred income taxes	1,467			1,467			1,458			1,539
Advances from affiliates	—			—			—			51
Other non-current liabilities	282			294			296			278
Partners' capital:
Partners' capital	2,928			2,908			2,918			2,889
Accumulated other comprehensive income	2			2			2			—
Total partners' capital	2,930			2,910			2,920			2,889
Total liabilities and partners' capital	$	6,658		$	6,599		$	6,557		$	6,188