# notes_to_financial_statements_122_duration

entity_id: C000070
filing_name: NuStar_Logistics,_L.P._form6_Q4_1649102002
publication_time: 2022-04-04 19:53:22.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_significant_rate_or_other_regulatory_matters_text_block: <div><p><span style="font-size: 12pt">6. None</span></p></div>
disclosure_of_details_on_accounting_for_income_taxes_text_block: <div><p><span style="font-size: 12pt">5. None</span></p></div>
disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block: <div><p><span style="font-size: 12pt">2. None</span></p></div>
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div class="Section0"><p><span style="font-size: 12pt">1.</span></p><p><b><span style="font-size: 12pt">Basis of Presentation</span></b></p><p><span style="font-size: 12pt">The preparation of consolidated financial statements are in accordance with the Uniform System of Accounts prescribed by the Federal Energy Regulatory Commission &quot;FERC&quot;.</span></p><p><span style="font-size: 12pt">In March 2020, the negative impact of the COVID-19 pandemic, combined with actions by OPEC+, drove significant declines in stock prices and market capitalization of companies across the energy industry.  As a result, we recorded a goodwill impairment charge of $99,000,000 associated with our crude oil pipelines and reported in Account 390 for 2020. </span></p><p><span style="font-size: 12pt"><br /></span></p><p><b><span style="font-size: 12pt">Cash and Cash Equivalents</span></b></p><p><span style="font-size: 12pt">On September 27, 2017, NuStar Logistics, L.P. submitted with the FERC an updated Cash Management Policy Docket No. RM02-14-000.</span></p><p><span style="background-color: unset; text-align: inherit"><span style="font-size: 12pt; background-color: unset"><br /></span></span></p><p><b><span style="font-size: 12pt">Revised Depreciation Rates</span></b></p><p><span style="font-size: 16px">On April 5, 2016, NuStar Logistics, L.P. filed to request Commission approval of revised depreciation, effective January 1, 2016 for its refined petroleum products and crude oil pipeline system property accounts pursuant to Part 347 of the Commission's regulations.  FERC approved the depreciation rates on May 20, 2016 Docket No. DO16-13-000.</span></p><p><span style="background-color: unset; text-align: inherit"><span style="font-size: 12pt; background-color: unset"><br /></span></span></p><p><b><span style="font-size: 12pt">Leases</span></b></p><p><span style="font-size: 12pt">In February 2016, the FASB issued amended guidance that required lessees to recognize the assets and liabilities that arise from most leases on the balance sheet.  For lessors, this amended guidance modifies the classification criteria and the accounting for sales-type and direct financing leases.  We adopted these provisions on January 1, 2019 through a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption.  For FERC presentation purposes, NuStar did not move acquired right-of-way assets out of carrier property as a result of this new guidance per AOPL accounting guideline 3-19 Lease Accounting Differences Between GAAP and USoA. </span></p><p><span style="background-color: unset; text-align: inherit"><span style="font-size: 12pt; background-color: unset"><br /></span></span></p><p><b><span style="font-size: 12pt">Significant Financing Arrangements</span></b></p><p><span style="font-size: 16px">On September 14, 2020, NuStar Logistics, L.P. issued $600.0 million of 5.75% senior notes due October 1, 2025 and $600.0 million of 6.375% senior notes due October 1, 2030.  The interest on the 5.75% and 6.375% senior note is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2021.</span></p><p><span style="font-size: 16px">On April 19, 2020, NuStar Energy L.P. and NuStar Logistics, L.P. entered into an unsecured term loan credit agreement with certain lenders and Oaktree Fund Administation, LLC, as administrative agent for the lenders.  The Term Loan provided for an aggregate commitment of up to $750.0 million pursuant to a three-year unsecured term loan credit facility.  NuStar Logistics, L.P. drew $500 million (the Initial Loan) on April 21, 2020.  On September 16, 2020, we used a portion of the net proceeds from the issuance of the 5.75% and 6.375% senior notes to repay the Initial Loan and pay related early repayment premiums totaling $97.6 million.  We also recognized costs of $40.3 million related to unamortized debt issuance costs, unamortized discount and commitment fee, which is included in the loss of an extinguishment of debt of $141.7 million reported in Account 660.  We terminated the Term Loan on February 16, 2021. </span></p></div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div><p><span style="font-size: 12pt">3. </span><span style="font-size: 12pt"><b>Postretirement Benefit Plan</b></span></p><p><span style="font-size: 12pt">In March 2017, the FASB issued amended guidance that changes the presentation of net periodic pension cost related to defined benefit plans effective January 1, 2018. For FERC presentation purposes, NuStar did not change its presentation of postretirement benefits per Docket No. AI18-1-000. </span><br /></p></div>

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
  <div><div><p><span style="font-size: 12pt">4. </span></p><p style="margin: 0 0 8pt; line-height: 107%; font-size: 11pt"><span style="font-size: 12pt; line-height: 107%"><span>We test long-lived assets for recoverability whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.  We evaluate recoverability using undiscounted estimated net cash flows generated by the related asset or asset group. If the results of that evaluation indicate that the undiscounted cash flows are less than the carrying amount of the asset (i.e., the asset is not recoverable) we perform an impairment analysis. In 2021, we identified an indication of impairment related to our refined product pipeline extending from Mt. Belvieu, Texas to Corpus Christi, Texas (the Houston Pipeline), specifically that the southern section would require significant investment in order to pursue commercial opportunities. Consequently, we separated the Houston pipeline into two distinct assets: the northern and southern sections. Our estimate of the undiscounted cash flows associated with the southern section indicated it was not recoverable. We determined the carrying value of the southern section exceeded its fair value and as set forth below recorded an asset impairment charge of $82.4 million related to the original cost of the carrier property and the accrued depreciation from FERC approved depreciation rates. We determined that the northern portion of the pipeline was not impaired.</span></span><span style="font-size: 12pt; line-height: 107%"><span>  </span></span><span style="font-size: 12pt; line-height: 107%"><span>The Houston Pipeline is an intra-state non-jurisdictional carrier pipeline for FERC reporting.</span></span></p><p style="margin: 0 0 8pt; line-height: 107%; font-size: 11pt"><span style="font-size: 12pt; line-height: 107%"><span>NuStar Logistics, L.P. recorded the impairment in 2021 as follows:</span></span></p></div><table class="e-rte-table" style="width: 100%; min-width: 0"><tr><th class="" style="text-align: left">Account</th><th class="" style="text-align: left">Description</th><th class="" style="text-align: left">Debit</th><th class="" style="text-align: left">Credit</th></tr><tr><td class="" style="width: 25%">30</td><td style="width: 25%" class="">Carrier Property</td><td style="width: 25%" class=""><br /></td><td style="width: 25%" class="">128,031,484</td></tr><tr><td style="width: 25%" class="">31</td><td style="width: 25%" class="">Accrued Depreciation</td><td style="width: 25%" class="">45,679,253</td><td style="width: 25%"><br /></td></tr><tr><td style="width: 25%" class="">390</td><td style="width: 25%" class="">Other Expenses</td><td style="width: 25%" class="">82,352,231</td><td style="width: 25%"><br /></td></tr></table><p><br /></p></div>


entity_id: C000069
filing_name: NuStar_Pipeline_Operating_Partnership,_L.P._form6_Q4_1649101884
publication_time: 2022-04-04 19:51:24.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_significant_rate_or_other_regulatory_matters_text_block: <div><p><span style="font-size: 12pt">6. None</span></p></div>
disclosure_of_details_on_accounting_for_income_taxes_text_block: <div><p><span style="font-size: 12pt">5. None</span></p></div>
disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block: <div><p><span style="font-size: 12pt">2. None</span></p></div>
disclosure_of_significant_changes_in_operations_during_the_year_text_block: <div><p><span style="font-size: 12pt">4. None</span></p></div>
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><b>Basis of Presentation</b></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt">The preparation of consolidated financial statements are in accordance with the Uniform System of Accounts prescribed by the Federal Energy Regulatory Commission (&quot;FERC&quot;).</span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><br /></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"> </p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><b>Cash and Cash Equivalents</b></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt">On September 27, 2017, NuStar Pipeline Operating Partnership L.P. submitted to the FERC an updated Cash Management Policy Docket No. RM02-14-000.</span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><br /></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"> </p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><b>Revised Depreciation Rates</b></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt">On April 5, 2016, NuStar Pipeline Operating Partnership, L.P. filed to request Commission approval of revised depreciation effective January 1, 2016 for its refined petroleum products pipeline system property accounts pursuant to Part 347 of the Commission's regulations. FERC approved the depreciation rates on May 20, 2016, Docket No. DO16-12-000.</span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"> </p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><br /></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><b>Market-based Rates</b></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt">On May 18, 1998 FERC granted NuStar Pipeline Operating Partnership, L.P.'s &quot;Application for Market Power Determination&quot; per Docket No. OR97-13.</span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><br /></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"> </p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><b>Revenue Recognition</b></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt">In May 2014, the <span style="color: rgba(51, 51, 51, 1); font-family: Arial; font-size: 16px; font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); display: inline !important; float: none">Financial Accounting Standards Board<span> (&quot;</span></span>FASB&quot;) and the International Accounting Standards Board jointly issued a comprehensive new revenue recognition standard that requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. We adopted these provisions January 1, 2018 using the modified retrospective approach. Per the Association of Oil Pipe Lines (&quot;AOPL&quot;) Accounting Guideline 3-08, for FERC purposes, we continue to recognize the fair value of product loss allowances consistent with periods prior to this adoption.</span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><br /></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"> </p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><b>Leases</b></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt">In February 2016, the (FASB) jointly issued amended guidance that requires lessees to recognize the assets and liabilities that arise from most leases on the balance sheet. For lessors, this amended guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. We adopted these provisions on January 1, 2019 through a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. For FERC presentation purposes, NuStar did not move acquired right-of-way assets out of carrier property as a result of this new guidance per AOPL accounting guideline 3-19 Lease Accounting Differences Between GAAP and USoA.</span></p></div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt">3<b>. Postretirement Benefit Plan</b></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt"><b><br /></b></span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"><span style="font-size: 12pt">In March 2017, the FASB issued amended guidance that changes the presentation of net periodic pension cost related to defined benefit plans. For FERC presentation purposes, NuStar did not change its presentation of postretirement benefits per Docket No. AI18-1-000.</span></p><p style="margin: 0; color: rgba(51, 51, 51, 1); font-style: normal; font-weight: 400; text-align: left; text-indent: 0; white-space: normal; background-color: rgba(255, 255, 255, 1); font-family: Arial; font-size: 10pt"> </p></div>


entity_id: C000426
filing_name: Northstar_Pipeline_Company,_LLC_form6_Q4_1649085813
publication_time: 2022-04-04 15:23:33.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div>
  <div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: center;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;;display:inline;"><div style="font-weight:bold;display:inline;">NorthStar Pipeline Company</div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: center;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: center;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;font-weight: ;;display:inline;">Notes to the Financial Statements</div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: center;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: center;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;font-weight: ;;display:inline;">Northstar Pipeline Company, LLC does not pay corporate income taxes.&#160;&#160;Harvest Alaska, LLC., as managing member, handles the administrative affairs of the limited liability company and has also been contracted to operate and maintain the facilities of Northstar Pipeline Company, LLC.</div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-left: 0.10in;margin-top: 0;text-align: justify;"><div  style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: 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estimated using existing technology, at current prices and is expected to be incurred over the next 9.67 years.&#160;&#160;While the provision is based on the best estimate of future costs and the economic lives of the pipeline, there is uncertainty regarding both the amount and timing of incurring these costs.</div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div><div><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 4.47in;"><tr style="height: 0.20in;"><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 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style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">FY 2021</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">FY 2020</div></div></td></tr><tr style="height: 0.20in;"><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">($000)</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">($000)</div></div></td></tr><tr style="height: 0.20in;"><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td></tr><tr style="height: 0.20in;"><td colspan="2" style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 143.25pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">Brought Forward</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">11,452</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">10,760</div></div></td></tr><tr style="height: 0.20in;"><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td></tr><tr style="height: 0.20in;"><td colspan="2" style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 143.25pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">New Provisions</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">0</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">0</div></div></td></tr><tr style="height: 0.20in;"><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td></tr><tr style="height: 0.20in;"><td colspan="2" style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 143.25pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">Revised Estimates</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">0</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">0</div></div></td></tr><tr style="height: 0.37in;"><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td></tr><tr style="height: 0.20in;"><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 126.1pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">Unwinding of discount</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;"><div  style="color: #000000;font-size: 8pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">737</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">692</div></div></td></tr><tr style="height: 0.20in;"><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 93.6pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: top;width: 85.3pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td></tr><tr style="height: 0.20in;"><td colspan="2" style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 143.25pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">Change in discount rate</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 93.6pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">0</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">0</div></div></td></tr><tr style="height: 0.20in;"><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 93.6pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 85.3pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td></tr><tr style="height: 0.20in;"><td colspan="2" style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 143.25pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">Utilized / deleted</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 93.6pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">0</div></div></td><td style="background: #b8cce4;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">0</div></div></td></tr><tr style="height: 0.20in;"><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 126.1pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 17.15pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 93.6pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td><td style="background: #dce6f1;border-bottom: solid #ffffff 1.0pt;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 85.3pt;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div></td></tr><tr style="height: 0.20in;"><td colspan="2" style="background: #b8cce4;border-bottom-style: none;border-left-style: none;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 143.25pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">Ending Balance</div></div></td><td style="background: #b8cce4;border-bottom-style: none;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 93.6pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">12,189</div></div></td><td style="background: #b8cce4;border-bottom-style: none;border-left: solid #ffffff 1.0pt;border-right: solid #ffffff 1.0pt;border-top: solid #ffffff 1.0pt;padding-bottom: 0;padding-left: 5.4pt;padding-right: 5.4pt;padding-top: 0;vertical-align: bottom;width: 85.3pt;"><div style="font-family: 'arial', 'sans-serif';font-size: 8pt;margin-bottom: .001pt;margin-top: 0;text-align: right;"><div style="color: #000000;font-family: 'arial', 'sans-serif';font-size: 8pt;font-style: ;font-weight: ;;display:inline;">11,452</div></div></td></tr></table></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;"><div style="spacecount: 10;;display:inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div></div><div style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;"><div style="spacecount: 10;;display:inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;"><div  style="font-size: 10pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div>
  </div>

disclosure_of_significant_rate_or_other_regulatory_matters_text_block:
  <div>
  <div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: justify;"><div  style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 6 </div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;text-align: justify;"><div style="color: #000000;font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;font-weight: ;;display:inline;">N.A</div></div>
  </div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div>
  <div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: justify;"><div  style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 3 </div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;text-align: justify;"><div style="color: #000000;font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;font-weight: ;;display:inline;">The partnership has no employees and therefore does not have a pension plan.</div></div>
  </div>

disclosure_of_details_on_accounting_for_income_taxes_text_block:
  <div>
  <div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: justify;"><div  style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 5 </div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;text-align: justify;"><div style="color: #000000;font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;font-weight: ;;display:inline;">N.A</div></div>
  </div>

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
  <div>
  <div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: justify;"><div  style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 2 </div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: justify;"><div style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;font-weight: ;;display:inline;">None</div></div>
  </div>

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
  <div>
  <div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: justify;"><div  style="font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 4 </div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: .001pt;margin-top: 0;text-align: justify;"><div style="color: #000000;font-family: 'times new roman', 'serif';font-size: 10pt;font-style: ;font-weight: ;;display:inline;">None</div></div>
  </div>


entity_id: C000758
filing_name: Baton_Rouge_Pipeline_LLC_form6_Q4_1649874695
publication_time: 2022-04-13 18:31:35.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div class="Section0"><p class="Normal__Web_" style="margin-top: 0; margin-bottom: 0"><br /></p></div>


entity_id: C005518
filing_name: EnLink_Crude_Pipeline,_LLC_form6_Q4_1650314495
publication_time: 2022-04-18 20:41:35.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_respondent_appearing_in_annual_report_to_the_stockholders_text_block:
  <span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:27.67pt">General</span><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Organization</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:103%">We are a Delaware limited liability company formed on April 27, 2016. Unless the context otherwise requires, references to “us,” “we,” “our,” “ours,” “the company,” or “EnLink Crude Pipeline” are describing EnLink Crude Pipeline, LLC. We are wholly owned by EnLink Midstream Operating, LP (EnLink), a wholly-owned subsidiary of EnLink Midstream Partners, LP (ENLK). ENLK is wholly-owned subsidiary of EnLink Midstream, LLC (ENLC) which is a limited liability company that is publicly traded on the New York Stock Exchange.</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Basis of Presentation</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited interim financial statements were prepared in accordance with the accounting requirements of the Federal Energy Regulatory Commission (FERC) as set forth in its applicable Uniform System of Accounts and published accounting releases, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. In management’s opinion, these financial statements reflect normal and recurring adjustments that are necessary for a fair presentation of our financial results for the interim periods presented, and adequate disclosures have been made to make the information presented not misleading. We have evaluated subsequent events through April 18, 2022, the date the financial statements were available to be issued</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</span></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:27.67pt">Litigation, Environmental and Other Contingencies</span><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Legal Matters</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are party to various legal, regulatory and other matters from time to time arising from the day-to-day operations of our business that may result in claims against us. Although no assurance can be given, we believe, based on our experiences to date, that the ultimate resolution of any such existing items will not have a material adverse impact on our business, financial position, results of operations or cash flows. We believe we have meritorious defenses to the matters to which we are a party and intend to vigorously defend these matters. When we determine a loss is probable of occurring and is reasonably estimable, we accrue an undiscounted liability for such contingencies based on our best estimate using information available at that time. If the estimated loss is a range of potential outcomes and there is no better estimate within the range, we accrue the amount at the low end of the range. We disclose contingencies where an adverse outcome may be material, or in the judgment of management, we conclude the matter should otherwise be disclosed.</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although no assurance can be given, we believe, based on our experience to date, that the ultimate resolution of such items will not have a material adverse impact on our business, financial position, results of operations or cash flows. As of December 31, 2021 and December 31, 2020, we had no accruals for any outstanding legal proceedings.</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Environmental Matters</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We may be subject to environmental cleanup and enforcement actions from time to time. Our operations are subject to federal, state and local laws and regulations relating to protection of the environment. Although we believe our operations are in substantial compliance with applicable environmental laws and regulations, risks of additional costs and liabilities are inherent in our operations, and there can be no assurance that we will not incur significant costs and liabilities. Moreover, it is possible that other developments, such as increasingly stringent environmental laws, regulations and enforcement policies under the terms of authority of those laws, and claims for damages to property or persons resulting from our operations, could result in substantial costs and liabilities to us. We had no accruals for environmental matters as of December 31, 2021 and December 31, 2020.</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Regulatory Matters</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We periodically have regulatory proceedings with the FERC and, while the outcome of these matters cannot be predicted with certainty, based upon our evaluation and experience to date, we do not expect the ultimate resolution of these matters to have a material adverse effect on our financial position, operating results or cash flows.</span></div><div style="padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:27.67pt">Related Party Transaction</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are managed and operated by ENLK and its affiliates. ENLK allocates a portion of its general and administrative cost to us at cost. For the years ended December 31, 2021 and 2020, we incurred charges of $1.7 million and $1.4 million, respectively, from ENLK.</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Cash Management Agreement</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">EnLink Crude Pipeline, LLC will not reflect any affiliate accounts receivable or payable. An affiliate company provides cash management services for EnLink Crude Pipeline, L.L.C through a centralized treasury system. As a result, all revenues covered by the centralized treasury system are deemed to have been received in cash during the period in which the revenue is recorded in the financial statements. All charges and cost allocations covered by the centralized treasury system are deemed to have been paid in cash to the affiliate during the period in which the cost is recorded in the financial statements. Inter-company balances are reflected as part of Additional Paid-in Capital (73) on the Comparative Balance Sheet Statement. The net change in the Inter-company balances during the period is reflected as part of Unappropriated Retained Income (75) on the Comparative Balance Sheet Statement, Appropriations of Retained Income (740) on the Unappropriated Retained Income Statement, and “Net Change in Equity due to I/C Settlement” on the Statement of Cash Flows, Line 63.2.</span></div>


entity_id: C003213
filing_name: DCP_Sand_Hills_Interstate_Pipeline,_LLC_form6_Q4_1649983109
publication_time: 2022-04-15 00:38:29.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">NOTES REGARDING FINANCIAL STATEMENTS</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">These financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the periods presented. The accounting policies followed in preparation of these financial statements generally conform to those required by the Federal Energy Regulatory Commission, or FERC, for oil pipeline companies.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We are a limited liability company owned 66.665% by DCP Pipeline Holding LLC, a 100% owned subsidiary of DCP Midstream, LP, or DCP Midstream, and 33.335% by Phillips 66 Sand Hills LLC, a 100% owned subsidiary of Phillips 66 Partners LP, or Phillips 66 Partners. On May 1, 2018, DCP Sand Holding, LLC, a 100% owned subsidiary of DCP Midstream, contributed its 33.335% ownership interest in the Company to DCP Pipeline Holding LLC. Previously, we were owned 33.330% by DCP Pipeline Holding LLC, 33.335% by DCP Sand Holding, LLC, and 33.335% by Phillips 66 Sand Hills LLC. Throughout these footnotes, DCP Midstream, LP, DCP Midstream and Phillips 66 Partners will together be referenced as the members. </span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">DCP Midstream is a joint venture owned 50% by Phillips 66 and 50% by Enbridge Inc, or Enbridge, and was the operator of the Sand Hills pipeline until January 1, 2017 when it contributed DCP Sand Holding, LLC and its 33.335% ownership interest in the Company to DCP Midstream, LP. Previously, DCP Midstream was owned 50% by Phillips 66 and 50% by Spectra Energy Corp, or Spectra Energy. Enbridge acquired Spectra Energy on February 27, 2017.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Prior to October 2015, we were owned 33.335% by Spectra Energy Sand Hills Holding, LLC, a 100% owned subsidiary of Spectra Energy Partners, LP, or Spectra Energy Partners. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">In October 2015, Spectra Energy entered into an agreement with Spectra Energy Partners to acquire its ownership interest of 33.335% in the Company</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">. On October 30, 2015, Spectra Energy contributed its ownership of 33.335% interest in the Company to DCP Midstream.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">DCP Sand Hills Pipeline, LLC, or the owner, funds the operations of Sand Hills. As Sand Hills has no cash accounts, all of cash management activity is performed by the owner and affiliates on Sand Hills’ behalf, including collection of receivables, payment of payables, and the settlement of sales and purchases transactions. Net amounts due to or from Sand Hills to or from the owner or affiliates are settled periodically by the transfer of such receivables and payables to the owner or affiliates and are shown as net contributions or distributions in equity.</span></div>

disclosure_of_significant_rate_or_other_regulatory_matters_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">RATE AND OTHER REGULATORY MATTERS</span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The transportation rate covers both gathering and trunk movements, and as such, all transportation revenues are reported as trunk revenues.</span></div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">PENSION AND POSTRETIREMENT BENEFITS</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company is considered a pass-through entity for payment of salaries, wages, and benefits. The Pension and Other Postretirement Benefit Plans and the corresponding liabilities are recorded at the Parent Level.</span></div>

disclosure_of_details_on_accounting_for_income_taxes_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">INCOME TAXES</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company is structured as a limited liability company, which is a pass-through entity for federal income tax purposes. As a limited liability company, we do not pay federal income taxes. Instead, our income or loss for tax purposes is allocated to each of the members for inclusion in their respective tax returns.</span></div>

disclosure_of_events_that_have_a_material_effect_to_respondents_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">SUBSEQUENT EVENTS</span></div><div style="text-indent:18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We have evaluated subsequent events occurring through April 14, 2022, the date the consolidated financial statements were issued, and have identified no events that require adjustments to or disclosure in these consolidated financial statements.</span></div>

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">COMMITMENTS AND CONTINGENCIES</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Litigation - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">With the exception described below, we are not party to any significant legal proceedings, but are a party to various administrative and regulatory proceedings and various commercial disputes that arose during the development of the Sand Hills pipeline and in the ordinary course of our business. Management currently believes that the ultimate resolution of the foregoing matters, taken as a whole and after consideration of amounts accrued, insurance coverage and other indemnification arrangements, will not have a material adverse effect on our consolidated results of operations, financial position, or cash flows.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2018, a crew working in Sutton County, Texas, to install a gas transmission line for EPIC Y-Grade Pipeline, LP struck our Sand Hills pipeline with trenching equipment.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The two members of the trenching crew have sued DCP, EPIC, and others in connection with alleged personal injuries in the case Ruiz and Soto vs. DCP Operating Company, LP, DCP Sand Hills Pipeline, LLC; EPIC Y-Grade Pipeline, LP, et al. in the 131st Judicial District of Bexar County, Texas.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Insurance coverage limits our potential exposure, and we are actively seeking indemnity and other compensation from several parties that would further reduce our total liability.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As of December 31, 2021, an accrual of $3.9 million related to these contingent obligations was reflected in accrued liabilities and other on our consolidated balance sheet. This accrual together with amounts </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">previously expensed are sufficient to satisfy our self-insured retention.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">This matter is subject to the uncertainties inherent in any litigation, and the ultimate outcome may not be known for some time.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Environment, Health, and Safety - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The operation of pipelines for transporting NGLs is subject to stringent and complex laws and regulations pertaining to the environment, health, and safety. As an owner or operator of these facilities, we must comply with United States laws and regulations at the federal, state, and, in some cases, local levels that relate to worker health and safety, public health and safety, pipeline safety, air and water quality, solid and hazardous waste storage, management, transportation and disposal, and other environmental matters. The cost of planning, designing, constructing, and operating pipelines incorporates compliance with environmental laws and regulations, worker and public health and safety standards, and safety standards applicable to our various facilities. In addition, there is increasing focus from (i) regulatory bodies and communities, and through litigation, on hydraulic fracturing and the real or perceived environmental or public health impacts of this technique, which indirectly presents some risk to the available supply of natural gas and the resulting supply of NGLs, (ii) regulatory bodies regarding pipeline system safety which could impose additional regulatory burdens and increase the cost of our operations, and (iii) state and federal regulatory officials regarding the emission of greenhouse gases and other air emissions associated with our operations or the other materials managed as part of our business, which could impose regulatory burdens and increase the cost of our operations, and (iv) regulatory bodies and communities that could prevent or delay the development of fossil fuel energy infrastructure such as pipeline and associated facilities used in our business. Failure to comply with various health, safety and environmental laws and regulations may trigger a variety of administrative, civil, and potentially criminal enforcement measures, including citizen suits, which can include the assessment of monetary penalties, the imposition of remedial requirements, and the issuance of injunctions or restrictions on operation. Management believes that, based on currently known information, compliance with these existing laws and regulations will not have a material adverse effect on our consolidated results of operations, financial position, or cash flows.</span></div>

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">SIGNIFICANT CHANGES IN OPERATIONS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no significant changes in 2021.</span></div>


entity_id: C001329
filing_name: CCPS_Transportation,_LLC_form6_Q4_1649963310
publication_time: 2022-04-14 19:08:30.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:27.75pt">COMPANY ORGANIZATION AND NATURE OF OPERATIONS</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">General</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">CCPS Transportation L.L.C (the “Company”) is a Delaware limited liability corporation and a wholly-owned subsidiary of Enbridge Energy Company, Inc. (“EECI”). On April 3, 2006, the Company and Energy Holdings (Spearhead) L.L.C., a holding company and wholly-owned subsidiary of EECI were merged into a single legal entity (see Note 3).</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is engaged in the transportation of crude oil and liquid petroleum through a common carrier pipeline system that extends from Chicago, Illinois to Cushing, Oklahoma. On March 31, 2005, the Company ceased operations to begin a project to reverse the flow of the pipeline to a North-South direction. On March 1, 2006, the Company completed the project and resumed pipeline operations.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Effective December 1, 2014 Enbridge Pipelines (FSP) LLC went into service with a new and separate tariff, Docket No. IS15-11-000. Pursuant to 18 CFR Part 357.2 Enbridge Pipelines (FSP) LLC projected annual jurisdictional operating revenues to be more than $500,000, which requires the filing of a new and separate FERC Form No. 6 Annual Report of Oil Pipeline Companies.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On May 8, 2015 the Company received FERC approval (Docket No. AC15-75-000) on proposed journal entries to transfer balances from the Company to Enbridge Pipelines (FSP) LLC, related to the filing of a new and separate tariff for Enbridge Pipelines (FSP) LLC effective December 1, 2014. The new and separate tariff required Enbridge Pipelines (FSP) LLC to file a separate FERC Form No. 6 Annual Report of Oil Pipeline Companies on a prospective basis. The Company also received FERC approval to use Account 720, Other debits to retained income, to record a net debit of $14.6 million to retained income to record the transfer of prior period retained income related to Enbridge Pipelines (FSP) LLC from the Company to Enbridge Pipelines (FSP) LLC.</span></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Regulation</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company's crude oil and liquid petroleum transportation activities are subject to regulation by the Federal Energy Regulatory Commission (“FERC”) and various state authorities. Regulatory bodies exercise statutory authority over matters such as rates and underlying accounting practices, and ratemaking agreements with customers.</span></div><div style="padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation and Use of Estimates</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The financial statements of the Company are prepared in accordance with accounting requirements of the Federal Energy Regulatory Commission, as set forth in the applicable Uniform System of Accounts and published accounting releases ("FERC USA"), which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America ("US GAAP").</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingent assets and liabilities. Management regularly evaluates these estimates, utilizing historical experience, consultation with experts and other methods considered reasonable in the circumstances. Nevertheless, actual results may differ significantly from these estimates. Any effects on the consolidated financial statements </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company derives revenues from interstate transportation of crude oil and liquid petroleum under tariffs regulated by the FERC. The Company recognizes revenue upon delivery of products to its customers, when pricing is determinable and collectability is reasonably assured. The Company generally does not own the crude oil and liquid petroleum that it transports or stores, and therefore, does not assume significant direct commodity price risk.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Cash and Cash Equivalents</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Cash equivalents are defined as all highly marketable securities with maturities of three months or less when purchased. The carrying value of cash and cash equivalents approximates fair value because of the short term nature of these investments.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Allowance for Doubtful Accounts</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company establishes provisions for losses on accounts receivable if it determines that it will not collect all or part of the outstanding balance. Collectability is reviewed regularly and an allowance is established or adjusted, as necessary, using the specific identification method.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Inventory</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Inventory includes product inventory and materials and supplies inventory. Product inventory, which consists of crude oil and liquid petroleum, are recorded at the lower of cost, as determined on a weighted average basis, or market. Upon disposition, product inventory is recorded to operating and administrative expense at the weighted average cost of inventory, including any adjustments recorded to reduce the product inventory to market value. Materials and supplies inventory is either used during operations and charged to operating expense as incurred, or used for capital projects and new construction, and capitalized to property, plant and equipment.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Oil Measurement Gains and Losses</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Oil measurement gains and losses occur as part of the normal operating conditions associated with the Company's pipelines. The three types of oil measurement losses include:</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">physical, which occur through evaporation, shrinkage, differences in measurement between receipt and delivery locations and other operational incidents;</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">degradation, which result from mixing at the interface between higher quality light crude oil and lower quality heavy crude oil in pipelines; and</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">revaluation, which are a function of crude oil prices and the level of the carrier's inventory.</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Difficulties are inherent in quantifying oil measurement gains and losses because physical measurements of volumes are not practical, as products continuously move through the pipelines and virtually all of the Company’s pipelines are located underground.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Capitalization Policies, Depreciation Methods and Impairment of Property, Plant and Equipment</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company capitalizes expenditures related to property, plant and equipment, subject to a minimum rule, that have a useful life greater than one year for (1) assets purchased or constructed; (2) existing assets that are replaced, improved, or the useful lives have been extended; or (3) all land, regardless of cost. Acquisitions of new assets, additions, replacements and improvements (other than land) costing less than the minimum rule, in addition to maintenance and repair costs, are expensed as incurred.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">During construction, the Company capitalizes direct costs, such as labor and materials, and other costs, such as direct overhead and interest at its weighted average cost of debt.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company records property, plant and equipment at its original cost, which is depreciated on a straight-line basis over the lesser of its estimated useful life or the estimated remaining life of the crude oil reserves in the basins the assets serve. Upon disposition of property, plant and equipment, the cost less net proceeds is typically charged to accumulated depreciation and no gain or loss on disposal is recognized.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company evaluates the recoverability of its property, plant and equipment when events or circumstances such as economic obsolescence, the business climate, legal and other factors indicate it may not recover the carrying amount of the assets. The Company evaluates the asset for recoverability by estimating the undiscounted future cash flows expected to be derived from operating the asset. The Company recognizes an impairment loss when the carrying amount of the asset exceeds its fair value as determined by quoted market prices in active markets or present value techniques if quotes are unavailable.</span></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Income Taxes</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is not a taxable entity for federal and state income tax purposes. Accordingly, no recognition is given to income taxes for financial reporting purposes.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Commitments, Contingencies and Environmental Liabilities</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company expenses or capitalizes, as appropriate, expenditures for ongoing compliance with environmental regulations that relate to past or current operations. Amounts for remediation of existing environmental contamination caused by past operations, which do not benefit future periods by preventing or eliminating future contamination, are expensed. Liabilities are recorded when environmental assessments indicate that remediation efforts are probable, and the costs can be reasonably estimated. These estimates are subject to revision in future periods based on actual costs or new information and are included on the Consolidated Statements of Financial Position in other current and long-term liabilities at their undiscounted amounts.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company recognizes liabilities for other contingencies when, after fully analyzing the available information, it determines it is either probable that an asset has been impaired or that a liability has been incurred and the amount of impairment or loss can be reasonably estimated. When a range of probable loss can be estimated, the Company accrues the most likely amount, or if no amount is more likely than another, the minimum of the range of probable loss. The Company typically expenses legal costs associated with loss contingencies as such costs are incurred.</span></div><div style="padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">RELATED PARTY TRANSACTIONS</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Administrative and Workforce Related Services</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Affiliate companies provide management and administrative, operations and workforce related services to the Company. Enbridge does not record any profit or margin for the services charged to the Company.</span></div><div style="padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">ENVIRONMENTAL LIABILITIES</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is subject to federal and state laws and regulations relating to the protection of the environment. Environmental risk is inherent to liquid pipeline operations and the Company could, at times, be subject to environmental cleanup and enforcement actions. The Company manages this environmental risk through appropriate environmental policies and practices to minimize any impact.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is not aware of any events of non-compliance with respect to environmental matters that would have a material effect on its financial position, results of operations or cash flows.</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">COMMITMENTS AND CONTINGENCIES</span><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Oil in Custody</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company transports crude oil and liquid petroleum owned by its customers for a fee. Virtually all the volume of liquid hydrocarbons in the Company’s pipeline system at any one time is owned by the Company’s customers. Under terms of the Company’s tariffs, losses of crude oil not resulting from direct negligence of the Company may be apportioned among its customers. In addition, the Company maintains property insurance coverage with respect to crude oil and liquid petroleum in the Company’s custody.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Rights-of-Way</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company, as part of its pipeline construction process, must obtain certain right-of-way agreements from landowners whose property the pipeline will cross. Right-of-way agreements that the Company buys are capitalized as part of property, plant and equipment. Right-of-way agreements that are leased from a third party are expensed.</span></div>


entity_id: C001049
filing_name: Magellan_Pipeline_Company,_L.P._form6_Q4_1650055629
publication_time: 2022-04-15 20:47:09.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="margin-top:1pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">Organization and Basis of Presentation</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Magellan Pipeline Company, L.P. (“MPL”) is 99.999% owned by its limited partner, Magellan Midstream Partners, L.P. (“MMP”), which is a Delaware limited partnership. Magellan Pipeline GP, LLC, a Delaware limited liability company, serves as MPL’s general partner and owns a 0.001% general partner interest. Magellan GP, LLC (“General Partner”), a Delaware limited liability company, serves as MMP’s general partner and is a wholly-owned subsidiary of MMP.</span></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">Summary of Significant Accounting Policies</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of our financial statements is in conformity with regulation by the Federal Energy Regulatory Commission (“FERC”) and requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities that exist at the date of our financial statements, as well as the impact on the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Cash Equivalents</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash and cash equivalents include demand and time deposits and funds that own highly marketable securities with original maturities of three months or less when acquired. We periodically assess the financial condition of the institutions where we hold these funds, and, at December 31, 2021 we believed our credit risk relative to these funds was minimal.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounts Receivable and Accumulated Provision for Uncollectible Accounts</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounts receivable represent valid claims against customers. We recognize accounts receivable when we sell products or render services, except tariff-related refined products transportation services which we recognize when our customer’s product enters our system, and collection of the receivable is probable. We extend credit terms to certain customers based on historical dealings and to other customers after a review of various credit indicators. A provision for uncollectible accounts is established for all or any portion of an account where collections are considered to be at risk and reserves are evaluated no less than quarterly to determine their adequacy. Judgments relative to at-risk accounts include the customers’ current financial condition, the customers’ historical relationship with us and current and projected economic conditions. Accounts receivable are written off when the account is deemed uncollectible.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Inventory Valuation</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventory is comprised primarily of refined petroleum products, natural gas liquids, transmix, crude oil and additives. Product over/short inventory is stated at weighted average cost.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Carrier Property</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Carrier property consists primarily of pipeline, pipeline-related equipment, storage tanks and terminal facility equipment. We state carrier property at cost except for certain acquired assets recorded at fair value on their respective acquisition dates and impaired assets. We record impaired assets at fair value on the last impairment evaluation date for which an adjustment was required.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assets are depreciated on a straight-line basis over their useful lives. We assign these lives based on reasonable estimates when the asset is placed into service. Subsequent events could cause us to change our estimates, which would impact the future calculation of depreciation expense. The depreciation rates for our pipeline assets are approved and regulated by the FERC.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expenditures to replace existing assets are capitalized and the replaced assets are retired. Expenditures associated with existing assets are capitalized when they improve the productivity or increase the useful life of the asset. Costs such as labor and materials that are directly related to construction projects are capitalized as incurred. Indirect project costs, such as overhead, are capitalized based on a percentage of direct labor charged to the respective capital project. Expenditures for maintenance, repairs and minor replacements are charged to operating expense in the period incurred.</span></div><div style="margin-bottom:1pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes to Financial Statements (continued)</span></td></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Goodwill and Other Intangible Assets</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">MPL’s goodwill represents the excess of the purchase price of the business acquired from BP Pipelines (North America), Inc during 2010 over the fair value of the assets acquired. Based on the final asset allocation of the purchase price, goodwill of $15.9 million was recognized by MPL. For FERC accounting purposes, MPL amortizes goodwill over a forty year life.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2016, an affiliate of MPL transferred its 50% membership interest in Osage Pipe Line Company, LLC to an affiliate of HollyFrontier Corporation. In conjunction with this transaction, MPL entered into several commercial agreements with HollyFrontier Corporation. As a result of this Osage transaction, MPL has recorded $43.7 million of intangible assets. These intangible assets are being amortized over the twenty year life of the commercial agreements received.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impairment of Long-Lived Assets</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We evaluate our long-lived assets of identifiable business activities, other than those held for sale, for impairment when events or changes in circumstances indicate, in management’s judgment, that the carrying value of such assets may not be recoverable. The determination of whether impairment has occurred is based on management’s estimate of undiscounted future cash flows attributable to the assets as compared to the carrying value of the assets. The amount of the impairment recognized is calculated as the excess of the carrying amount of the asset over the fair value of the assets, as determined either through reference to similar asset sales or by estimating the fair value using a discounted cash flow approach.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Judgments and assumptions are inherent in management’s estimate of undiscounted future cash flows used to determine recoverability of an asset and the estimate of an asset’s fair value used to calculate the amount of impairment to recognize.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Pension and Post-Retirement Benefit Obligations</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Magellan Midstream Holdings GP, LLC (“Holdings GP”), an affiliated entity, sponsors a union pension plan, a non-union pension plan, a post-retirement benefit plan for certain employees, and a defined contribution plan. For MPL purposes, participants in the plans include Holdings GP employees dedicated to or otherwise supporting the management and operating functions of MPL.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Costs related to all employee benefits, including these plans, are charged from Holdings GP to MPL based on a fringe rate percent added to the payroll costs.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2017 MMP elected to adopt ASU 2017-07 for the accounting treatment of pension costs and costs for post-retirement benefits other than pensions (PBOP). MPL requested approval from the FERC commission via Docket No. AC18-53-000 to change our capitalization policy for FERC filings in which we are electing to capitalize only the service cost component of pension and PBOP costs. In April 2018, the FERC accepted this request.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We recognize pipeline transportation revenue for crude oil shipments when our customers take possession of their product from our system. For shipments of refined products under published tariffs that combine transportation and terminalling services, we recognize revenue when our customers take possession of their product from our system through tanker trucks, railcars or third-party pipelines. For all other shipments, where terminalling services are not included in the tariff, we recognize revenue when our customers’ product arrives at the customer-designated delivery point. We have certain agreements that require counterparties to ship a minimum volume over an agreed-upon period. Revenue pursuant to such agreements is recognized at the earlier of when the volume is shipped or when the counterparty’s ability to meet the minimum volume commitment has expired.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We recognize injection service fees associated with additives upon injection to the customer’s product, which occurs at the time the product is delivered. Leased tank storage, pipeline capacity leases, terminalling, throughput, ethanol loading and unloading services, laboratory testing and data services, pipeline operating fees and other miscellaneous service-related revenues are recognized upon completion of contract services.</span></div><div style="margin-bottom:1pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes to Financial Statements (continued)</span></td></tr></table></div><div><span><br/></span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Deferred Transportation Revenues and Costs</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Generally, customers on our refined products pipeline are invoiced for transportation services when their product enters our system. At each period end, we record all invoiced amounts associated with products that have not yet been delivered (in-transit products) as a deferred liability. Additionally, at each period end we defer the direct costs we have incurred associated with these in-transit products until delivery occurs as a deferred asset. These deferred costs are determined using judgments and assumptions that management considers reasonable.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Pipeline Over/Short Product</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Each period end we measure the volume of each type of product in our pipeline systems and terminals, which is compared to the volumes of our customers’ inventories (as adjusted for tender deductions). To the extent the product volumes in our pipeline systems and terminals exceed the volumes of our customers’ book inventories, we recognize a gain from the product overage and increase our product inventories. To the extent the product in our pipeline systems and terminals is less than our customers’ book inventories, we recognize a loss from the product shortage and we record a liability for product owed to our customers. The product overages we recognize are recorded based on market prices, and the resulting inventory is carried at weighted average cost. The product shortages we recognize are recorded based on our weighted average cost. Additionally, when product shortages result in a net short inventory position, the related liability is recorded based on period-end market prices. Product overages and shortages as well as adjustments to the value of net short inventory positions are recorded in operating expenses on our consolidated statements of income.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Contingencies and Environmental</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain conditions may exist as of the date our annual form 6 that could result in a loss to us, but which will only be resolved when one or more future events occur or fail to occur. Our management assesses such contingent liabilities, which inherently involves significant judgment. In assessing loss contingencies related to legal proceedings that are pending against us or for unasserted claims that may result in proceedings, our management, with input from legal counsel, evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Environmental expenditures are charged to carrier expense or capitalized based on the nature of the expenditures. We record environmental liabilities independently of any potential claim for recovery. Accruals related to environmental matters are generally determined based on site-specific plans for remediation, taking into account currently available facts, existing technologies and presently enacted laws and regulations. Accruals for environmental matters reflect our prior remediation experience and include an estimate for costs such as fees paid to contractors, outside engineering and consulting firms. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remediation feasibility study. Such accruals are adjusted as further information develops or circumstances change. The determination of the accrual amounts recorded for environmental liabilities includes significant judgments and assumptions made by management. The use of alternate judgments and assumptions could result in the recognition of different levels of environmental remediation costs.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We maintain specific insurance coverage, which may cover all or portions of certain environmental expenditures less a deductible. We recognize receivables in cases where we consider the realization of reimbursements of remediation costs as probable.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We recognize liabilities for other commitments and contingencies when, after analyzing the available information, we determine it is probable that an asset has been impaired, or that a liability has been incurred and the amount of impairment or loss can be reasonably estimated. When we can estimate a range of probable loss, we accrue the most likely amount within that range, or if no amount is more likely than another, we accrue the minimum of the range of probable loss. We expense legal costs associated with loss contingencies as incurred.</span></div><div style="margin-bottom:1pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes to Financial Statements (continued)</span></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income Taxes</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are a partnership for income tax purposes and therefore have not been subject to federal income taxes or state income taxes. Accordingly, no recognition has been given to income taxes for reporting purposes. The tax on MPL’s net income is borne by the individual partners of MMP through the allocation of taxable income.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The State of Texas has imposed a partnership-level tax based on the partnership’s net revenues of their assets in the State of Texas. Our parent, MMP, accrues this tax based on their consolidated net revenues of their assets apportioned to the State of Texas and does not currently allocate any of those taxes to its subsidiaries, including us.</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:9.67pt">Leases</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">MPL leases land, office buildings, tanks and terminal equipment at various locations to conduct our business operations. We have also entered into contracts to lease pipeline capacity primarily to facilitate movements on our Little Rock pipeline extension to conduct our business operations. We have also entered into land leases and right-of-way contracts, several of which have cancellation penalties that include the requirement to remove our pipeline from the property for non-performance. Several of our agreements provide for negotiated renewal options and management expects that we will generally renew our expiring leases. Leases are evaluated at inception or at any subsequent material modification and, depending on the lease terms, are classified as either finance leases or operating leases, as appropriate under Accounting Standards Codification No. 842, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leases</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Rent expense is recognized on a straight-line basis over the life of the lease. Total non-affiliated rent expense in account 350 was $24.8 million in 2021. During 2021, MPL also had carrier asset lease agreements with affiliates which resulted in lease payments totaling $34.4 million. These carrier asset affiliate lease payments were recorded to account 350. Also during 2021, MPL had lease agreements with affiliates that were not carrier-related which resulted in lease payments totaling $41.1 million. These affiliate lease payments were recorded to account 640. The affiliate-related lease agreements are one year agreements that are renewable at the beginning of each year.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2014 we placed into operation an approximate 40-mile pipeline we constructed in Texas and New Mexico. We entered into a long-term throughput and deficiency agreement with a customer on this pipeline, which contains minimum volume/payment commitments. This agreement is being accounted for as a direct financing lease. The net investment under direct financing leasing arrangements as of December 31, 2021 was as follows (in millions):</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:1pt;padding-left:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:58.184%"><tr><td style="width:1.0%"/><td style="width:90.715%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.085%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Total minimum lease payments receivable</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">12.2 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Less: Unearned income</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">1.8 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:2.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Recorded net investment in direct financing lease</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">10.4 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:6pt;padding-left:36pt"><span><br/></span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The net investment in direct financing leases was classified in the balance sheet as follows: </span></div><div style="margin-bottom:1pt;padding-left:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:58.333%"><tr><td style="width:1.0%"/><td style="width:81.553%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.247%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Current accounts receivable, account 14 </span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1.3 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Non-current accounts receivable, account 43 </span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">9.1</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:2.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Total </span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">10.4 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
  <div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">Commitments and Contingencies</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Environmental Liabilities </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">– Estimated liabilities for environmental costs were $6.6 million at December 31, 2021. Environmental liabilities have been classified as current or noncurrent based on management’s estimates regarding the timing of actual payments. Environmental expenses recognized as a result of changes in our environmental liabilities were included in account 570 and were $2.4 million in 2021.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Legal Proceedings –</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">MPL is party to various claims, legal actions and complaints arising in the ordinary course of business. While the results cannot be predicted with certainty, management believes the ultimate resolution of these claims, legal actions and complaints after consideration of amounts accrued, insurance coverage or other indemnification arrangements will not have a material impact on MPL’s results of operations, financial position or cash flows.</span></div>


entity_id: C000608
filing_name: Overland_Pass_Pipeline_Company_LLC_form6_Q4_1650037435
publication_time: 2022-04-15 15:43:55.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="margin-top:5pt;padding-left:36pt;padding-right:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">These financial statement of Overland Pass Pipeline Co. L.L.C. are prepared in accordance with accounting requirements of the Federal Energy Regulatory Commission, as set forth in the applicable Uniform System of Accountants published accounting releases (“FERC USA”), which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of American (“US GAAP”).</span></div>

disclosure_of_significant_rate_or_other_regulatory_matters_text_block:
[cell repeats an earlier one in this file: 229 characters]

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div style="margin-top:10pt;padding-left:36pt;padding-right:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">We have a service agreement with The Williams Companies, Inc. and Williams Field Services Company, LLC under which our operations and the operations of Williams and its affiliates can combine or share certain common services in order to operate more efficiently and cost effectively.</span></div>

disclosure_of_details_on_accounting_for_income_taxes_text_block:
[cell repeats an earlier one in this file: 385 characters]

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
[cell repeats an earlier one in this file: 595 characters]

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
[cell repeats an earlier one in this file: 229 characters]


entity_id: C002945
filing_name: DCP_Southern_Hills_Pipeline,_LLC_form6_Q4_1650318994
publication_time: 2022-04-18 21:56:34.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">NOTES REGARDING FINANCIAL STATEMENTS</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">These financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the periods presented. The accounting policies followed in preparation of these financial statements generally conform to those required by the Federal Energy Regulatory Commission, or FERC, for oil pipeline companies.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We are a limited liability company owned 66.67% by DCP Pipeline Holding LLC, a 100% owned subsidiary of DCP Midstream, LP, (formerly DCP Midstream Partners, LP), and 33.33% by Phillips 66 Southern Hills LLC, a 100% owned subsidiary of Phillips 66 Partners LP, or Phillips 66 Partners. Throughout these footnotes, DCP Midstream, LP, DCP Midstream and Phillips 66 Partners will together be referenced as the members. </span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">DCP Midstream is a joint venture owned 50% by Phillips 66 and 50% by Enbridge Inc, or Enbridge and was the operator of the Southern Hills pipeline until January 1, 2017 when it contributed DCP Southern Holding, LLC and its 33.335% ownership interest in the Company to DCP Midstream, LP. </span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Prior to October 2015, we were owned 33.335% by Spectra Energy Southern Hills Holding, LLC, a 100% owned subsidiary of Spectra Energy Partners, LP, or Spectra Energy Partners. In October 2015, Spectra Energy entered into an agreement with Spectra Energy Partners to acquire its ownership interest of 33.335% in the Company. On October 30, 2015, Spectra Energy contributed its ownership of 33.335% interest in the Company to DCP Midstream. Spectra was acquired by Enbridge on February 27, 2017.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">DCP Southern Hills Pipeline, LLC owns and operates the Southern Hills pipeline, which consists of approximately 800 miles of pipeline. The Southern Hills pipeline provides takeaway service from the Midcontinent to fractionation facilities along the Texas Gulf Coast and the Mont Belvieu, Texas market hub.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In December 2012, Southern Hills formed a 100% owned subsidiary, DCP Southern Hills Intrastate Pipeline, LLC to be used primarily for transportation of non-regulated, intrastate product within the State of Texas.</span></div>

disclosure_of_significant_rate_or_other_regulatory_matters_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">RATE AND OTHER REGULATORY MATTERS</span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The transportation rate covers both gathering and trunk movements and as such all transportation revenues are reported as trunk revenues.</span></div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">PENSION AND POSTRETIREMENT BENEFITS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is considered a pass-through entity for payment of salaries, wages, and benefits. The Pension and Other Postretirement Benefit Plans and the corresponding liabilities are recorded at the Parent Level.</span></div>

disclosure_of_details_on_accounting_for_income_taxes_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">INCOME TAXES</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company is structured as a limited liability company, which is a pass-through entity for federal income tax purposes. As such, the Company is not subject to income tax, but rather the taxable income or loss of the Company is reported on the respective income tax returns of the members.</span></div>

disclosure_of_events_that_have_a_material_effect_to_respondents_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">SUBSEQUENT EVENTS</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We have evaluated subsequent events occurring through April 18, 2022, the date the consolidated financial statements were issued, and have identified no events that require adjustments to or disclosure in these consolidated financial statements.</span></div>

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">COMMITMENTS AND CONTINGENCIES</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Litigation </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We are not party to any significant legal proceedings but are a party to various administrative and regulatory proceedings and various commercial disputes that arose during the development of the Southern Hills pipeline and in the ordinary course of our business. Management currently believes that the ultimate resolution of the foregoing matters, taken as a whole, and after consideration of amounts accrued, insurance coverage or other indemnification arrangements, will not have a material adverse effect on our consolidated results of operations, financial position, or cash flows.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Environment, Health, and Safety</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> —</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> The operation of pipelines for transporting NGLs is subject to stringent and complex laws and regulations pertaining to health, safety and the environment. As an owner or operator of these facilities, we must comply with United States laws and regulations at the federal, state and local levels that relate to air and water quality, hazardous and solid waste storage, management, transportation and disposal, and other environmental matters. The cost of planning, designing, constructing and operating pipelines incorporates compliance with environmental laws and regulations and safety standards. Failure to comply with various health, safety and environmental laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures, including citizen suits, which can include the assessment of monetary penalties, the imposition of remedial requirements, and the issuance of injunctions or restrictions on operation. Management believes that, based on currently known information, compliance with these laws and regulations will not have a material adverse effect on our consolidated results of operations, financial position or cash flows.include the </span></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">assessment of monetary penalties, the imposition of remedial requirements, and the issuance of injunctions or restrictions on operation. Management believes that, based on currently known information, compliance with these existing laws and regulations will not have a material adverse effect on our consolidated results of operations, financial position, or cash flows.</span>

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">SIGNIFICANT CHANGES IN OPERATIONS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">None</span></div>


entity_id: C010202
filing_name: Prg_Pipelines,_Llc_form6_Q4_1650044952
publication_time: 2022-04-15 17:49:12.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_events_that_have_a_material_effect_to_respondents_text_block:
  <div style="margin-bottom:6pt;margin-top:6pt;padding-left:18pt;padding-right:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">8. Subsequent Events </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsequent events, which are events or transactions that occurred after December 31, 2021 through the issuance of the accompanying financial statements, have been evaluated through April 15, 2022.</span></div>


entity_id: C005415
filing_name: Grand_Mesa_Pipeline,_LLC_form6_Q4_1649939360
publication_time: 2022-04-14 12:29:20.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">1.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:112%">A) Organization and Basis of Presentation</span></div><div style="padding-left:72pt;text-indent:-18pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Unless indicated otherwise, the terms "our", "we", "us", and similar language refer to Grand Mesa Pipeline, LLC. Grand Mesa Pipeline, LLC, a limited liability company, was formed on July 11, 2014, and entered into certain commercial agreements with Saddlehorn Pipeline Company, LLC (“Saddlehorn”) and an affiliate of Magellan Midstream Partners, L.P.(“Magellan”) on November 17, 2015, to jointly construct and own a 550-mile common carrier pipeline to transport crude oil from the Denver-Julesburg Basin region of Colorado to storage facilities in Cushing, Oklahoma. Our pipeline (“Grand Mesa Pipeline”) commenced operations on November 1, 2016, has operated continuously since then, and is operated by Magellan. We also independently own and operate origin terminals at Lucerne and Riverside Colorado where we aggregate crude volumes of different types and grades and store them until they are ready for transfer to our pipeline. The Lucerne terminal has 940,000 barrels of storage and a 12-bay truck loading facility. The Riverside terminal has 20,000 barrels of storage and a 4-bay truck loading facility.</span></div><div style="padding-left:72pt;text-indent:-18pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">We hold a 31.91% interest in an undivided joint interest pipeline (which we refer to as the Grand Mesa Pipeline) with the remaining 68.09% interest held by Saddlehorn. The undivided joint interest pipeline begins at a junction near our Lucerne, Colorado origin terminal.</span></div><div style="padding-left:72pt;text-indent:-18pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:112%">B) Summary of Significant Accounting Policies</span></div><div style="padding-left:72pt;text-indent:-18pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:112%">Use of Estimates</span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Our financial statements are prepared in conformity with regulations promulgated by the Federal Energy Regulatory Commission ("FERC") and requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities that exist at the date of our financial statements, as well as the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates.</span></div><div style="padding-left:72pt;text-indent:-18pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:112%">Cash Equivalents</span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Cash and cash equivalents include demand and time deposits and other highly marketable securities with original maturities of three months or less when acquired.</span></div><div style="padding-left:72pt;text-indent:-18pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:112%">Accounts Receivable and Accumulated Provision for Uncollectible Accounts</span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Accounts receivable represent valid claims against affiliated and non-affiliated customers and are recognized when products are sold or services are rendered. An allowance for doubtful accounts is established for all or a portion of an account where collections are considered to be at risk and reserves are evaluated no less than quarterly to determine their adequacy. Judgments relative to at-risk accounts include the customers’ current financial condition, the customers’ historical relationship with us and current and projected economic conditions. Receivables are written off when the account is deemed uncollectible.</span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:112%">Carrier Property</span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Carrier Property consists primarily of pipeline and pipeline-related equipment and is stated at cost. Assets are depreciated on a straight-line basis over their useful lives. We assign these lives based on reasonable estimates when the asset is placed into service. Subsequent events could cause us to change our estimates, which would impact the future calculation of depreciation expense. Assets with the same useful lives and similar characteristics are depreciated using the same rate. The depreciation rates for our assets are approved and regulated by the FERC. Expenditures to replace existing assets are capitalized and the replaced assets are retired. Expenditures associated with existing assets are capitalized when they improve the productivity or increase the useful life of the asset. Expenditures for maintenance, repairs and minor replacements are charged to operating expense in the period incurred.</span></div><div style="padding-left:72pt;text-indent:-18pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:112%">Noncarrier Property</span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Carrier Property consists primarily of terminal and terminal-related equipment and is stated at cost. Assets are depreciated on a straight-line basis over their useful lives. We assign these lives based on reasonable estimates when the asset is placed into service. Subsequent events could cause us to change our estimates, which would impact the future calculation of depreciation expense. Assets with the same useful lives and similar characteristics are depreciated using the same rate. The depreciation rates for our assets are approved and regulated by the FERC. Expenditures to replace existing assets are capitalized and the replaced assets are retired. Expenditures associated with existing assets are capitalized when they improve the productivity or increase the useful life of the asset. Expenditures for maintenance, repairs and minor replacements are charged to operating expense in the period incurred.</span></div>

disclosure_of_significant_rate_or_other_regulatory_matters_text_block:
  <div style="margin-top:2pt;padding-right:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.        None</span></div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div style="margin-top:2pt;padding-right:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.        None</span></div>

disclosure_of_details_on_accounting_for_income_taxes_text_block:
  <div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:112%">5.        Income Taxes</span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">We are treated as a partnership for income tax purposes and therefore we do not pay federal or state income taxes.</span></div>

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
  <div style="margin-top:2pt;padding-right:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.        None</span></div>

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
  <div style="margin-top:2pt;padding-right:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.        None</span></div>


entity_id: C000399
filing_name: BP_Pipelines_(North_America)_Inc._form6_Q4_1650337969
publication_time: 2022-04-19 03:12:49.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div>
  <div style="font-family: 'calibri';font-size: 11pt;line-height: 107.9%;margin-bottom: 8pt;margin-left: 0.50in;margin-top: 0;text-indent: -0.25in;"><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">1.</div><div style="font-size: 11pt;font-style: ;font-weight: ;;display:inline;"><div style="spacecount: 4;;display:inline;">&#160;&#160;&#160;</div></div><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">None</div></div><div style="font-family: 'calibri';font-size: 11pt;line-height: 107.9%;margin-bottom: 8pt;margin-left: 0.50in;margin-top: 0;text-indent: -0.25in;"><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">2.</div><div style="font-size: 11pt;font-style: ;font-weight: ;;display:inline;"><div style="spacecount: 4;;display:inline;">&#160;&#160;&#160;</div></div><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">None</div></div><div style="font-family: 'calibri';font-size: 11pt;line-height: 107.9%;margin-bottom: 8pt;margin-left: 0.50in;margin-top: 0;text-indent: -0.25in;"><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">3.</div><div style="font-size: 11pt;font-style: ;font-weight: ;;display:inline;"><div style="spacecount: 4;;display:inline;">&#160;&#160;&#160;</div></div><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">None</div></div><div style="font-family: 'calibri';font-size: 11pt;line-height: 107.9%;margin-bottom: 8pt;margin-left: 0.50in;margin-top: 0;text-indent: -0.25in;"><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">4.</div><div style="font-size: 11pt;font-style: ;font-weight: ;;display:inline;"><div style="spacecount: 4;;display:inline;">&#160;&#160;&#160;</div></div><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">None</div></div><div style="font-family: 'calibri';font-size: 11pt;line-height: 107.9%;margin-bottom: 8pt;margin-left: 0.50in;margin-top: 0;text-indent: -0.25in;"><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">5.</div><div style="font-size: 11pt;font-style: ;font-weight: ;;display:inline;"><div style="spacecount: 4;;display:inline;">&#160;&#160;&#160;</div></div><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">Not Applicable</div></div><div style="font-family: 'calibri';font-size: 11pt;line-height: 107.9%;margin-bottom: 8pt;margin-left: 0.50in;margin-top: 0;text-indent: -0.25in;"><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">6.</div><div style="font-size: 11pt;font-style: ;font-weight: ;;display:inline;"><div style="spacecount: 4;;display:inline;">&#160;&#160;&#160;</div></div><div style="font-family: 'calibri';font-size: 11pt;font-style: ;font-weight: ;;display:inline;">Not Applicable</div></div><div style="font-family: 'calibri';font-size: 11pt;line-height: 107.9%;margin-bottom: 8pt;margin-top: 0;"><div  style="font-size: 11pt;font-style: ;font-weight: ;;display:inline;">&#160;</div></div>
  </div>


entity_id: C001090
filing_name: DCP_Wattenberg_Pipeline_LLC_form6_Q4_1649958686
publication_time: 2022-04-14 17:51:26.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">NOTES REGARDING FINANCIAL STATEMENTS</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">These financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the periods presented. The accounting policies followed in preparation of these financial statements generally conform to those required by the Federal Energy Regulatory Commission (FERC) for oil pipeline companies.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">DCP Assets Holding, LP acquired this entity on January 27, 2010, effective January 1, 2010, from Buckeye Partners, LP. The entity was originally called “Buckeye NGL Pipe Lines, LLC” but changed its name to DCP Wattenberg Pipeline LLC on January 27, 2010. DCP Wattenberg Pipeline LLC, or Wattenberg or the Company, is being treated as a new company from both a reporting and tariff perspective.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> DCP Assets Holding, LP, or Holdings, funds the operations and capital expenditures of Wattenberg. Since Wattenberg has no cash accounts, all of cash management activity is performed by Holdings and affiliates on Wattenberg’s behalf, including collection of receivables, payment of payables, and the settlement of sales and purchases transactions. Net amounts due to or from Wattenberg from or to Holdings or affiliates are settled periodically by the transfer of such receivables and payables to Holdings and are shown as net contributions or distributions in equity.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Distributions and Contributions </span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company paid out distributions of $32,448,411, during the year ended December 31, 2021.</span></div>

disclosure_of_significant_rate_or_other_regulatory_matters_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">RATE AND OTHER REGULATORY MATTERS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transportation rate covers both gathering and trunk movements and as such all transportation revenues are reported as trunk revenues.</span></div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">PENSION AND POSTRETIREMENT BENEFITS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is considered a pass-through entity for payment of salaries, wages, and benefits. The Pension and Other Postretirement Benefit Plans and the corresponding liabilities are recorded at the Parent Level.</span></div>

disclosure_of_details_on_accounting_for_income_taxes_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">INCOME TAXES</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is not subject to income tax, but rather the taxable income or loss of the Company is reported on the respective income tax returns of its owners.</span></div>

disclosure_of_events_that_have_a_material_effect_to_respondents_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">SUBSEQUENT EVENTS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have evaluated subsequent events occurring through April 14, 2022 and have identified no events that require adjustments to or disclosure in these consolidated financial statements.</span></div>

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">COMMITMENTS AND CONTINGENCIES</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Litigation </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">—Periodically, the Company is involved in legal matters, none of which, in the opinion of management, will have a material impact on the Company’s financial position, results of operations or cash flows.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Environmental</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">— The operation of pipelines for transporting NGLs is subject to stringent and complex laws and regulations pertaining to health, safety, and the environment. As an owner or operator of these facilities, we must comply with United States laws and regulations at the federal, state, and, in some cases, local levels that relate to worker safety, air and water quality, solid and hazardous waste storage, management, transportation and disposal, and other environmental matters. The cost of planning, designing, constructing, and operating pipelines incorporates compliance with environmental laws and regulations, worker safety standards, and safety standards applicable to our various facilities. In addition, there is increasing focus from (i) city, state and federal regulatory officials and through litigation, on hydraulic fracturing and the real or perceived environmental impacts of this technique, which indirectly presents some risk to the available supply of natural gas and the resulting supply of NGLs, (ii) federal regulatory agencies regarding pipeline system safety which could impose additional regulatory burdens and increase the cost of our operations, and (iii) regulatory bodies and communities that could prevent or delay the development of fossil fuel energy infrastructure such as pipeline and associated facilities used in our business. Failure to comply with various health, safety and environmental laws and regulations may trigger a variety of administrative, civil, and potentially criminal enforcement measures, including citizen suits, which can include the assessment of monetary penalties, the imposition of remedial requirements, and the issuance of injunctions or restrictions on operation. Management believes that, based on currently known information, compliance with these existing laws and regulations will not have a material adverse effect on our consolidated results of operations, financial position, or cash flows.</span></div>

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">SIGNIFICANT CHANGES IN OPERATIONS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no significant changes in 2021.</span></div>


entity_id: C004897
filing_name: NuStar_Permian_Transportation_and_Storage,_LLC_form6_Q4_1649102715
publication_time: 2022-04-04 20:05:15.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_significant_rate_or_other_regulatory_matters_text_block: <div><p><span style="font-size: 12pt">6. None</span></p></div>
disclosure_of_details_on_accounting_for_income_taxes_text_block: <div><p><span style="font-size: 12pt">5. None</span></p></div>
disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block: <div><p><span style="font-size: 12pt">2. None</span></p></div>
disclosure_of_significant_changes_in_operations_during_the_year_text_block: <div><p><span style="font-size: 12pt">4. None</span></p></div>
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">1.</span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><br /></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><b>Basis of Presentation</b></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">The </span><span style="font-family: Arial, Helvetica, sans-serif; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">preparation of consolidated fina</span><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">ncial statements are in accordance with the Uniform System of Accounts prescribed by the Federal Energy Regulatory Commission (&quot;FERC&quot;). </span></p><p><span style="background-color: unset; font-family: Arial, Helvetica, sans-serif; font-size: 12pt; text-align: inherit">In March 2020, the negative impact of the COVID-19 pandemic, combined with actions by OPEC+, drove significant declines in stock prices and market capitalization of companies across the energy industry. As a result, we recorded a goodwill impairment charge of $126,000,000 associated with our crude oil pipelines and reported in Account 390 for 2020.</span><br /></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial, Helvetica, sans-serif; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><span style="color: rgba(51, 51, 51, 1); font-family: Roboto"><br /></span></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><b>Cash and Cash Equivalents</b></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">On September 27, 2017, NuStar Permian Transportation and Storage, LLC submitted to the FERC an updated Cash Management Policy Docket No. RM02-14-000.</span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><br /></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><b>Revised Depreciation Rates</b></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">On February 2, 2016, Navigator BSG Transportation &amp; Storage, LLC (Navigator) (now acquired and doing business as NuStar Permian Transportation and Storage, LLC) filed to request Commission approval of initial depreciation rates (Docket No. DO16-7-000) effective August 1, 2015 for its crude oil pipeline system property accounts pursuant to Part 347 of the Commission's regulations. On May 9, 2016, Navigator filed to amend its February 2, 2016 filing, which was assigned Docket No. DO16-14-000. FERC approved the depreciation rates on May 27, 2016 Docket No. DO16-7-000 and DO16-14-000.</span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><br /></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><b>Revenue Recognition</b></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">In May 2014, the Financial Accounting Standards Board (&quot;FASB&quot;) and the International Accounting Standards Board jointly issued a comprehensive new revenue recognition standard that requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. We adopted these provisions January 1, 2018 using the modified retrospective approach. Per the Association of Oil Pipe Line (&quot;AOPL&quot;)  Accounting Guideline 3-08, for FERC purposes, we continue to recognize product loss allowances consistent with periods prior to this adoption.</span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><br /></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><b>Leases</b></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">In February 2016, the FASB issued amended guidance that requires lessees to recognize the assets and liabilities that arise from most leases on the balance sheet. For lessors, this amended guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. We adopted these provisions on January 1, 2019 through a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. For FERC presentation purposes, NuStar did not move acquired right-of-way assets out of carrier property as a result of this new guidance per AOPL accounting guideline 3-19 Lease Accounting Differences Between GAAP and USoA.<br /></span></p></div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">3.</span></p><p><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none"><b>Postretirement Benefit Plan</b></span></p><p class="Normal__Web_" style="margin: 0; color: rgba(51, 51, 51, 1); font-family: Roboto"><span style="font-family: Arial; font-size: 12pt; font-weight: normal; font-style: normal; text-decoration: none">In March 2017, the FASB issued amended guidance that changes the presentation of net periodic pension cost related to defined benefit plans. For FERC presentation purposes, NuStar did not change its presentation of postretirement benefits per Docket No. AI18-1-000.</span></p></div>


entity_id: C002945
filing_name: DCP_Southern_Hills_Pipeline,_LLC_form6_Q4_1654284325
publication_time: 2022-06-03 19:25:25.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">NOTES REGARDING FINANCIAL STATEMENTS</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">These financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the periods presented. The accounting policies followed in preparation of these financial statements generally conform to those required by the Federal Energy Regulatory Commission, or FERC, for oil pipeline companies.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We are a limited liability company owned 66.67% by DCP Pipeline Holding LLC, a 100% owned subsidiary of DCP Midstream, LP, (formerly DCP Midstream Partners, LP), and 33.33% by Phillips 66 Southern Hills LLC, a 100% owned subsidiary of Phillips 66 Partners LP, or Phillips 66 Partners. Throughout these footnotes, DCP Midstream, LP, DCP Midstream and Phillips 66 Partners will together be referenced as the members. </span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">DCP Midstream is a joint venture owned 50% by Phillips 66 and 50% by Enbridge Inc, or Enbridge and was the operator of the Southern Hills pipeline until January 1, 2017 when it contributed DCP Southern Holding, LLC and its 33.335% ownership interest in the Company to DCP Midstream, LP. </span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Prior to October 2015, we were owned 33.335% by Spectra Energy Southern Hills Holding, LLC, a 100% owned subsidiary of Spectra Energy Partners, LP, or Spectra Energy Partners. In October 2015, Spectra Energy entered into an agreement with Spectra Energy Partners to acquire its ownership interest of 33.335% in the Company. On October 30, 2015, Spectra Energy contributed its ownership of 33.335% interest in the Company to DCP Midstream. Spectra was acquired by Enbridge on February 27, 2017.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">DCP Southern Hills Pipeline, LLC owns and operates the Southern Hills pipeline, which consists of approximately 800 miles of pipeline. The Southern Hills pipeline provides takeaway service from the Midcontinent to fractionation facilities along the Texas Gulf Coast and the Mont Belvieu, Texas market hub.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In December 2012, Southern Hills formed a 100% owned subsidiary, DCP Southern Hills Intrastate Pipeline, LLC to be used primarily for transportation of non-regulated, intrastate product within the State of Texas.</span></div>

disclosure_of_significant_rate_or_other_regulatory_matters_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">RATE AND OTHER REGULATORY MATTERS</span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The transportation rate covers both gathering and trunk movements and as such all transportation revenues are reported as trunk revenues.</span></div>

disclosure_of_accounting_for_the_respondent_s_pensions_and_postretirement_benefits_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">PENSION AND POSTRETIREMENT BENEFITS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is considered a pass-through entity for payment of salaries, wages, and benefits. The Pension and Other Postretirement Benefit Plans and the corresponding liabilities are recorded at the Parent Level.</span></div>

disclosure_of_details_on_accounting_for_income_taxes_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">INCOME TAXES</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company is structured as a limited liability company, which is a pass-through entity for federal income tax purposes. As such, the Company is not subject to income tax, but rather the taxable income or loss of the Company is reported on the respective income tax returns of the members.</span></div>

disclosure_of_events_that_have_a_material_effect_to_respondents_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">SUBSEQUENT EVENTS</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We have evaluated subsequent events occurring through June 6, 2022, the date the consolidated financial statements were issued, and have identified no events that require adjustments to or disclosure in these consolidated financial statements.</span></div>

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">COMMITMENTS AND CONTINGENCIES</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Litigation </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We are not party to any significant legal proceedings but are a party to various administrative and regulatory proceedings and various commercial disputes that arose during the development of the Southern Hills pipeline and in the ordinary course of our business. Management currently believes that the ultimate resolution of the foregoing matters, taken as a whole, and after consideration of amounts accrued, insurance coverage or other indemnification arrangements, will not have a material adverse effect on our consolidated results of operations, financial position, or cash flows.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Environment, Health, and Safety</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> —</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> The operation of pipelines for transporting NGLs is subject to stringent and complex laws and regulations pertaining to health, safety and the environment. As an owner or operator of these facilities, we must comply with United States laws and regulations at the federal, state and local levels that relate to air and water quality, hazardous and solid waste storage, management, transportation and disposal, and other environmental matters. The cost of planning, designing, constructing and operating pipelines incorporates compliance with environmental laws and regulations and safety standards. Failure to comply with various health, safety and environmental laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures, including citizen suits, which can include the assessment of monetary penalties, the imposition of remedial requirements, and the issuance of injunctions or restrictions on operation. Management believes that, based on currently known information, compliance with these laws and regulations will not have a material adverse effect on our consolidated results of operations, financial position or cash flows.include the </span></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">assessment of monetary penalties, the imposition of remedial requirements, and the issuance of injunctions or restrictions on operation. Management believes that, based on currently known information, compliance with these existing laws and regulations will not have a material adverse effect on our consolidated results of operations, financial position, or cash flows.</span>

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
  <div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.67pt">SIGNIFICANT CHANGES IN OPERATIONS</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">None</span></div>


entity_id: C003961
filing_name: Ohio_River_Valley_Pipeline,_LLC_form6_Q4_1650314578
publication_time: 2022-04-18 20:42:58.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_respondent_appearing_in_annual_report_to_the_stockholders_text_block:
  <div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:27.67pt">General</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Organization</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are a Delaware limited liability company formed on September 25, 2013. Unless the context otherwise requires, references to “us,” “we,” “our,” “ours,” “the Company,” or “Ohio River Valley” are describing Ohio River Valley Pipeline, LLC. We are wholly owned by EnLink Midstream Operating, LP (EnLink), a wholly-owned subsidiary of EnLink Midstream Partners, LP (ENLK). ENLK is wholly-owned subsidiary of EnLink Midstream, LLC (ENLC) which is a limited liability company that is publicly traded on the New York Stock Exchange.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Basis of Presentation</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited interim financial statements were prepared in accordance with the accounting requirements of the Federal Energy Regulatory Commission (FERC) as set forth in its applicable Uniform System of Accounts and published accounting releases, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. In management’s opinion, these financial statements reflect normal and recurring adjustments that are necessary for a fair presentation of our financial results for the interim periods presented, and adequate disclosures have been made to make the information presented not misleading. We have evaluated subsequent events through April 18, 2022, the date the financial statements were available to be issued.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:27.67pt">Litigation, Environmental and Other Contingencies</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Legal Matters</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are party to various legal, regulatory and other matters from time to time arising from the day-to-day operations of our business that may result in claims against us. Although no assurance can be given, we believe, based on our experiences to date, that the ultimate resolution of any such existing items will not have a material adverse impact on our business, financial position, results of operations or cash flows. We believe we have meritorious defenses to the matters to which we are a party and intend to vigorously defend these matters. When we determine a loss is probable of occurring and is reasonably estimable, we accrue an undiscounted liability for such contingencies based on our best estimate using information available at that time. If the estimated loss is a range of potential outcomes and there is no better estimate within the range, we accrue the amount at the low end of the range. We disclose contingencies where an adverse outcome may be material, or in the judgment of management, we conclude the matter should otherwise be disclosed.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although no assurance can be given, we believe, based on our experience to date, that the ultimate resolution of such items will not have a material adverse impact on our business, financial position, results of operations or cash flows. As of December 31, 2021 and December 31, 2020, we had no accruals for any outstanding legal proceedings.</span></div><div style="text-indent:18pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Environmental Matters</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We may be subject to environmental cleanup and enforcement actions from time to time. Our operations are subject to federal, state and local laws and regulations relating to protection of the environment. Although we believe our operations are in substantial compliance with applicable environmental law and regulations, risks of additional costs and liabilities are inherent in our operations, and there can be no assurance that we will not incur significant costs and liabilities. Moreover, it is possible that other developments, such as increasingly stringent environmental laws, regulations and enforcement policies under the terms of authority of those laws, and claims for damages to property or persons resulting from our operations, could result in substantial costs and liabilities to us. Although it is not possible to predict the ultimate outcomes, we believe that the resolution of the environmental matters, and other matters to which we are a party, will not have a material adverse effect on our business, financial position, results of operations or cash flows. We had no accruals for environmental matters as of December 31, 2021 and December 31, 2020.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Regulatory Matters</span></div><div><span><br/></span></div><div style="margin-bottom:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We periodically have regulatory proceedings with the FERC and, while the outcome of these matters cannot be predicted with certainty, based upon our evaluation and experience to date, we do not expect the ultimate resolution of these matters to have a material adverse effect on our financial position, operating results or cash flows.</span></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:9.67pt">Related Party Transaction</span></div><div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are managed and operated by ENLK and its affiliates. ENLK allocates a portion of its general and administrative cost to us at cost. For the years ended December 31, 2021 and 2020, we incurred charges of $0.4 million and $0.4 million, respectively, from ENLK.</span></div><div style="text-indent:18pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Cash Management Agreement</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Ohio River Valley Pipeline, LLC will not reflect any affiliate accounts receivable or payable. An affiliate company provides cash management services for Ohio Valley River Pipeline, LLC through a centralized treasury system. As a result, all revenues covered by the centralized treasury system are deemed to have been received in cash during the period in which the revenue is recorded in the financial statements. All charges and cost allocations covered by the centralized treasury system are deemed to have been paid in cash to the affiliate during the period in which the cost is recorded in the financial statements. Inter-company balances are reflected as part of Additional Paid-in Capital (73) on the Comparative Balance Sheet Statement. The net change in the Inter-company balances during the period is reflected as part of Unappropriated Retained Income (75) on the Comparative Balance Sheet Statement, Appropriations of Retained Income (740) on the Unappropriated Retained Income Statement, and “Net change in Equity due to I/C Settlement” on the Statement of Cash Flows, Line 63.2.</span></div>


entity_id: C004989
filing_name: Illinois_Extension_Pipeline_Company_L.L.C._form6_Q4_1649958613
publication_time: 2022-04-14 17:50:13.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:10.5pt">LIMITED LIABILITY COMPANY ORGANIZATION AND NATURE OF OPERATIONS</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">Illinois Extension Pipeline Company, L.L.C., referred to herein as we, us, our, or the Company, was formed under the name Enbridge Pipelines (Illinois), L.L.C. on December 12, 2006, the date of inception, for the primary purpose of building and operating a 168-mile, 24-inch diameter oil pipeline from Flanagan, Illinois to Patoka, Illinois. The pipeline system has an initial capacity of 300,000 barrels per day, or Bpd, as well as additional tankage and two pump stations, referred to herein as the Southern Access Extension. The project was placed into service in December 2015.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">On July 10, 2014, Enbridge Energy Company, Inc., or Enbridge, and Lincoln Pipeline LLC, or Lincoln, a subsidiary of Marathon Petroleum Company, L.P, executed an agreement, or the Agreement, effective July 1, 2014, which amended and restated the original agreement and admitted Lincoln as a member. Enbridge and Lincoln, collectively referred to herein as the Members, hold a 65% and a 35% ownership interest in us, respectively.</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:10.5pt">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Basis of Presentation and Use of Estimates</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">The financial statements of the Company are prepared in accordance with accounting requirements of the Federal Energy Regulatory Commission, as set forth in the applicable Uniform System of Accounts and published accounting releases ("FERC USA"), which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America ("US GAAP").</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingent assets and liabilities. Management regularly evaluates these estimates, utilizing historical experience, consultation with experts and other methods considered reasonable in the circumstances. Nevertheless, actual results may differ significantly from these estimates. Any effects on the financial statements resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Revenue Recognition</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">Our revenues are primarily derived from interstate transportation of crude oil and liquid petroleum under tariffs regulated by the FERC. The tariffs established for our interstate pipelines specify the amounts to be paid by shippers for transportation services we provide between receipt and delivery locations and the general terms and conditions of transportation services on the respective pipeline systems. We recognize revenue upon delivery of products to our customers, when pricing is determinable and collectability is reasonably assured. We generally do not own the crude oil and liquid petroleum that we transport, and therefore, we do not assume significant direct commodity price risk. Some long-term take-or-pay contracts contain make-up-rights. Make-up-rights are granted when minimum volume commitments are not utilized during the period but under certain circumstances can be used to offset overages in future periods, subject to expiration periods. We recognize revenue associated with make-up rights at the earlier of when the make-up volume is shipped, the make-up right expires, or when it is determined that the likelihood that the shipper will utilize the make-up right is remote.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Cash and Cash Equivalents</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">Cash equivalents are defined as all highly marketable securities with original maturities of three months or less when purchased. The carrying value of cash and cash equivalents approximates fair value because of the short term to maturity of these investments.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Allowance for Doubtful Accounts</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">We establish provisions for losses on accounts receivable if it has been determined that all or part of the outstanding balance will not be collected. Collectability is reviewed regularly and an allowance is established or adjusted, as necessary, using the specific identification method.</span></div><div style="text-align:justify;text-indent:71pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Capitalization, Depreciation and Impairment of Property, Plant and Equipment</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">We capitalize expenditures related to property, plant and equipment, subject to a minimum rule, that have a useful life greater than one year for (1) assets purchased or constructed; (2) existing assets that are replaced, improved, or the useful lives have been extended; or (3) all land, regardless of cost. Acquisitions of new assets, additions, replacements and improvements, other than land, costing less than the minimum rule in addition to maintenance and repair costs, including any planned major maintenance activities, are expensed as incurred. During construction, we capitalize direct costs, such as labor and materials, and other costs, such as direct overhead. Prior to the execution of the Agreement, we also capitalize the interest on borrowings that Enbridge made on our behalf.</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:103%">The interest cost we incur is directly offset by the amount of interest we capitalize on our outstanding construction costs.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">We record property, plant and equipment at its original cost. We depreciate property, plant and equipment on a straight-line basis over the estimated useful life of the assets. Our determination of the useful lives of property, plant and equipment requires us to make various assumptions, including the supply of and demand for hydrocarbons in the markets served by our assets, normal wear and tear of the facilities, and the extent and frequency of maintenance programs. We routinely utilize consultants and other experts to assist us in this process.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">We evaluate the recoverability of our property, plant and equipment when events or circumstances such as economic obsolescence, the business climate, legal and other factors indicate we may not recover the carrying amount of the assets. We continually monitor our businesses, the market and business environments to identify indicators that could suggest an asset may not be recoverable. We evaluate the asset for recoverability by estimating the undiscounted future cash flows expected to be derived from operating the asset as a going concern. These cash flow estimates require us to make projections and assumptions for many years into the future for pricing, demand, competition, operating cost, contract renewals and other factors.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">If an asset’s carrying value exceeds the sum of its estimated undiscounted future cash flows, we recognize a non-cash impairment loss equal to the excess of the asset’s carrying amount over its fair value.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Commitments and Contingencies</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">We recognize liabilities for other commitments and contingencies when, after fully analyzing the available information, we determine it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. When a range of probable loss can be estimated, we accrue the most likely amount, or if no amount is more likely than another, we accrue the minimum of the range of probable loss. We expense legal costs associated with loss contingencies as such costs are incurred.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Environmental Liabilities</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We are subject to federal and state laws and regulations relating to the protection of the environment. Environmental risk is inherent to the operating activities of our businesses, and we are, at times, subject to environmental cleanup and enforcement actions. We manage this environmental risk through appropriate environmental policies and practices to minimize any impact our operations may have on the environment.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:101%">We are not aware of any events of non-compliance with respect to environmental matters that would have a material effect on our financial position, results of operations or cash flows.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Income Taxes</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We are not a taxable entity for United States federal income tax purposes or for the majority of states that impose an income tax. Taxes on our net income generally are borne by our Members through the allocation of taxable income.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Allocation of Net Profits and Losses</span></div><div style="text-indent:34.95pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We allocate net profits and losses in accordance with our Agreement, which are based on each Member’s interest.</span></div>


entity_id: C001678
filing_name: Enbridge_Pipelines_(Southern_Lights)_LLC_form6_Q4_1650305496
publication_time: 2022-04-18 18:11:36.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.    LIMITED LIABILITY COMPANY ORGANIZATION AND NATURE OF OPERATIONS</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Enbridge Pipelines (Southern Lights), L.L.C., referred to herein as “we,” “us,” “our,” and the “Company,” is a Delaware limited liability company that is an indirect, wholly-owned subsidiary of Enbridge Inc., or Enbridge, of Calgary, Alberta, Canada. </span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We were formed for the primary purpose of constructing and operating a common carrier liquid hydrocarbon pipeline system and related facilities to transport light hydrocarbons (“Diluents”), from refineries in the Chicago, Illinois area to locations in Canada, where it interconnects with other pipelines and terminal facilities. We operate the United States portion of the pipeline system, which runs from Chicago to the international border near Neche, North Dakota. The pipeline system has an operating capacity of approximately 180,000 barrels per day, or Bpd and was placed in service on July 1, 2010. We refer to the common carrier pipeline system and related facilities as the Southern Lights Pipeline. </span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Diluent transportation activities are subject to regulation by the Federal Energy Regulatory Commission, or the FERC, and various state authorities. Regulatory bodies exercise statutory authority over matters such as rates and underlying accounting practices, and ratemaking agreements with customers.</span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation and Use of Estimates</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The financial statements of the Company are prepared in accordance with accounting requirements of the Federal Energy Regulatory Commission, as set forth in the applicable Uniform System of Accounts and published accounting releases ("FERC USA"), which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America ("US GAAP").</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Our preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingent assets and liabilities. We regularly evaluate these estimates utilizing historical experience, consultation with experts and other methods considered reasonable in the circumstances. Nevertheless, actual results may differ significantly from these estimates. We record the effect of any revisions to these estimates in our financial statements in the period in which the facts that give rise to the revision become known.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Accounting for Regulated Operations</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Our liquids operations are subject to the authoritative accounting provisions applicable to regulated operations. We also record assets and liabilities that result from the regulated ratemaking process that would not be recorded under GAAP for nonregulated entities.</span></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Allowance for Funds Used During Construction</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During the construction of our pipelines that qualify for regulated accounting, we are allowed to capitalize costs that represent the estimated debt and equity costs of capital necessary to finance the construction of our pipelines. The debt and equity costs, referred to collectively as Allowance for Funds Used During Construction, or AFUDC, are capitalized as part of the costs of pipeline construction in “carrier property” in our comparative balance sheet statement. The equity return component and interest costs related to the AFUDC are reflected on our income statement. Entities that do not qualify for regulated accounting are only allowed to capitalize interest costs related to its construction activities, while a component for equity is prohibited.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Cost-of-Service Recovery Model</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Under our cost-of-service tolling methodology, we calculate tolls based on forecast volumes and costs. A difference between forecast and actual results causes an under or over collection of tolls in any given year. Under the authoritative accounting provisions applicable to our regulated operations, over or under collections of tolls are recognized in the financial statements in the current period, and these amounts are realized or settled as cash the following year. This accounting model matches earnings to the period with which they relate and conforms to how </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">we recover our costs associated with these expansions through the annual cost-of-service filings with our customers and the regulator. The amounts we have over collected are included in “other current liabilities” on our comparative balance sheet statement. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Our revenues are derived from the interstate transportation of diluent under tariffs regulated by the FERC. For Southern Lights Pipeline, the committed rates filed for (and in effect) in the tariffs provide for recovery of all capital, operating and debt financing costs, plus a pre-determined after tax rate of return on equity (“ROE”) of 10% based on a deemed 70% debt and 30% equity structure. Our tolls specify the amounts to be paid by shippers for transportation services we provide between receipt and delivery locations and the general terms and conditions of transportation services on our pipeline system. We recognize revenue upon delivery of products to our customers when pricing is determinable and collectability is reasonably assured. We do not own the diluent that we transport and, therefore we do not assume significant direct commodity price risk.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Cash and Cash Equivalents</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Cash equivalents are defined as all highly marketable securities with original maturities of three months or less when purchased. The carrying value of cash and cash equivalents approximates fair value because of the short term to maturity of these investments. We did not have any marketable securities on our December 31, 2021, and 2020 comparative balance sheet statement. </span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Accounts Receivables</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Our accounts receivable are primarily from shipments of Diluent. The majority of our accounts receivable relate to our logistics activities that can generally be described as high volume activities.</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">To mitigate credit risks related to our accounts receivable, we have in place a rigorous credit review process. We closely monitor market conditions in order to make a determination with respect to the amount, if any, of credit to be extended to any given customer and the form and amount of financial performance assurances we require. Such financial assurances are commonly provided to us in the form of standby letters of credit, “parental” guarantees or advance cash payments.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Allowance for Doubtful Accounts</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We establish provisions for losses on accounts receivable if we determine that we will not collect all or part of an outstanding balance. Collectability is reviewed regularly and an allowance is established or adjusted, as necessary, using the specific identification method. At December 31, 2021, and 2020, all our accounts receivable customer balances were less than 30 days past their scheduled invoice date.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Capitalization of Property, Plant and Equipment </span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We capitalize expenditures related to property, plant and equipment, subject to a minimum rule, that have a useful life greater than one year for: (1) assets purchased or constructed; (2) existing assets that are replaced, improved, or the useful lives have been extended; or (3) all land, regardless of cost. Acquisitions of new assets, additions, replacements and improvements (other than land) costing less than the minimum rule in addition to maintenance and repair costs, including any planned major maintenance activities, are expensed as incurred.</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During construction, we capitalize direct costs, such as labor and materials, and other costs, such as direct overhead and interest at our weighted average cost of debt, and, in our regulated business that applies the authoritative accounting provisions applicable to regulated operations to compute an equity return component.</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Regulatory guidance issued by the FERC requires us to expense certain costs associated with implementing the pipeline integrity management requirements of the United States Department of Transportation’s Office of Pipeline Safety. Under this guidance, costs to: (1) prepare a plan to implement the program; (2) identify high consequence areas; (3) develop and maintain a record keeping system; and (4) inspect, test and report on the condition of affected pipeline segments to determine the need for repairs or replacements, are required to be expensed. Costs of modifying pipelines to permit in-line inspections, certain costs associated with developing or enhancing computer software and costs associated with remedial mitigation actions to correct an identified </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">condition are capitalized. We typically expense the cost of initial in-line inspection programs, crack detection tool runs and hydrostatic testing costs conducted for the purposes of detecting manufacturing or construction defects consistent with industry practice and the regulatory guidance issued by the FERC. However, we capitalize initial construction hydrostatic testing cost and subsequent hydrostatic testing programs conducted for the purpose of increasing pipeline capacity in accordance with our capitalization policies. Also capitalized are certain costs such as sleeving or recoating existing pipelines, unless the expenditures are incurred as a single event and not part of a major program, in which case we expense these costs as incurred. </span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We record property, plant and equipment at its original cost, which we depreciate on a straight-line basis over its estimated remaining useful life. Our determination of the useful lives of property, plant and equipment requires us to make various assumptions, including the supply of and demand for diluent in the markets served by our assets, normal wear and tear of the facilities, and the extent and frequency of maintenance programs. We routinely utilize consultants and other experts to assist us in assessing the remaining useful lives of our property, plant and equipment.</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We record depreciation using the group method of depreciation which is commonly used by pipelines, utilities and similar entities. Under the group method, upon the disposition of property, plant and equipment, the net book value less net proceeds is typically charged to accumulated depreciation and no gain or loss on disposal is recognized. However, when a separately identifiable group of assets, such as a stand-alone pipeline system is sold, we recognize a gain or loss in our income statement for the difference between the cash received and the net book value of the assets sold. Changes in any of our assumptions may alter the rate at which we recognize depreciation in our financial statements. We retain the services of independent consultants and other experts, as needed, to assist us with assessing the reasonableness of the useful lives we have established for our property, plant and equipment. Based on the results of these assessments we may make modifications to the assumptions we use to determine our depreciation rates.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We evaluate the recoverability of our property, plant and equipment when events or circumstances such as economic obsolescence, the business climate, legal and other factors indicate we may not recover the carrying amount of the assets. We continually monitor our businesses, the market and business environments to identify indicators that could suggest an asset may not be recoverable. We evaluate an asset for recoverability by estimating the undiscounted future cash flows expected to be derived from operating the asset as a going concern. These cash flow estimates require us to make projections and assumptions for many years into the future for pricing, demand, competition, operating cost, contract renewals, and other factors. We recognize an impairment loss when the carrying amount of an asset exceeds its fair value as determined by quoted market prices in active markets or present value and other valuation techniques if quotes are unavailable. The determination of the fair value using present value techniques requires us to make projections and assumptions regarding the probability of a range of outcomes and the rates of interest used in the present value calculations. Any changes we make to these projections and assumptions could result in significant revisions to our evaluation of recoverability of the property, plant and equipment and the recognition of an impairment loss in our income statement.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Commitments, Contingencies and Environmental Liabilities</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We expense or capitalize, as appropriate, expenditures for ongoing compliance with environmental regulations that relate to past or current operations. We expense amounts we incur for remediation of existing environmental contamination caused by past operations that do not benefit future periods by preventing or eliminating future contamination. We record liabilities for environmental matters when assessments indicate that remediation efforts are probable, and the costs can be reasonably estimated. Estimates of environmental liabilities are based on currently available facts, existing technology and presently enacted laws and regulations taking into consideration the likely effects of inflation and other factors. These amounts also consider prior experience in remediating contaminated sites, other companies’ clean-up experience and data released by government organizations. Our estimates are subject to revision in future periods based on actual costs or new information and are included in both “other current liabilities” and “other noncurrent liabilities” in our comparative balance sheet statement at their undiscounted amounts. We evaluate recoveries from insurance coverage separately from the liability and, when recovery is probable, we record and report an asset separately from the associated liability in our financial statements. </span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We recognize liabilities for other commitments and contingencies when we determine it is either probable that an asset has been impaired, or that a liability has been incurred, and the amount of impairment or loss can be reasonably estimated. When a range of probable loss can be estimated, we accrue the minimum of the range of probable loss. We expense legal costs associated with loss contingencies as such costs are incurred. We did not recognize any contingent losses for the years ended December 31, 2021 and 2020.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income Taxes</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Until November 7, 2014 we were a single member limited liability company that was treated as a disregarded entity of its Member or Enbridge Energy Company, Inc. (EECI), for federal income tax purposes. We recognized income tax expense on our taxable income on a separate company basis as if we were a separate entity from EECI. EECI charged us for any income taxes that it paid on our behalf or refunded us for any of our net operating losses that EECI utilized, since EECI filed a consolidated federal income tax return that included us.</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> We recognized deferred income tax assets and liabilities for temporary differences between the basis of our assets and liabilities for financial reporting and income tax purposes. We recognized the tax effects of any uncertain tax positions we had taken as the largest amount that was greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority having full knowledge of the position and all relevant facts, but without considering time values. Changes in tax legislation were included in the relevant computations in the period in which the legislation was enacted.</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Effective November 7, 2014 EECI exchanged its direct ownership interest in us for an interest in a newly formed limited liability company that is treated as a non-taxable partnership for United States federal income tax purposes. This newly formed limited liability company is owned by our former Member and an affiliate of our former Member. We are now a single member limited liability company of this newly formed company. </span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> Effective November 7, 2014 our tax status changed from being an entity subject to income taxes to one that is treated as a non-taxable partnership. Generally, U.S. federal and state income taxes on our taxable income will be borne by our parent’s individual members through the allocation of our taxable income. The allocation of taxable income to our parent’s individual members may vary substantially from net income reported in our consolidated statements of income. As a result we eliminated our deferred income tax liability effective November 7, 2014. The resulting deferred income tax liability adjustment was included in deferred income tax expense as required by ASC 740-10-45-19 which requires that these adjustments be included in income from continuing operations. The amount of this adjustment was a decrease to deferred income tax expense of $158.8 million.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Asset Retirement Obligation</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In accordance with the authoritative accounting guidance, we are required to recognize a liability and related asset, for the fair value of conditional asset retirement obligations, or AROs. The authoritative guidance specifies that an ARO can be reasonably estimated when sufficient information is available to apply an expected present value technique.</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Currently, there is insufficient information to reasonably determine the timing and/or method of settlement for estimating the fair value of the ARO. In these cases, the ARO cost is considered indeterminable because there is no data or information that can be derived from past practice, industry practice, management's intent, or the asset's estimated economic life. Useful lives of most pipeline systems are primarily derived from available supply resources and the ultimate consumption of those resources by end users. </span></div><div style="padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.    COMMITMENTS AND CONTINGENCIES</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Right-of-Way</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As part of the pipeline construction process, we must obtain right-of-way agreements from landowners whose property the pipeline will cross. Right-of-way agreements that we purchase are capitalized as part of “carrier property” on our comparative balance sheet statement.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Environmental Matters</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We are subject to federal and state laws and regulations relating to the protection of the environment. Environmental risk is inherent to liquid hydrocarbon pipeline operations, and we could, at times, be subject to environmental cleanup and enforcement actions. We manage this environmental risk through appropriate environmental policies and practices to minimize any impact our operations may have on the environment. To the extent that we are unable to recover environmental liabilities through insurance or other potentially responsible parties, we will be responsible for payment of liabilities arising from environmental incidents associated with the </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">operating activities of our Diluent business. We continue to voluntarily investigate past leak sites on our systems for the purpose of assessing whether any remediation is required in light of current regulations. </span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We did not recognize any environmental liabilities for the years ended December 31, 2021 and 2020.</span></div><div style="padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.    REGULATORY MATTERS</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Regulatory assets, included in "other deferred charges", are comprised of the following:</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:83.779%"><tr><td style="width:0.1%"/><td style="width:1.576%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.576%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:40.640%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.939%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.939%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.939%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.939%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.939%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.939%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.603%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.671%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:115%">AEDC - Income Tax Expense Impact</span></div></td><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:115%">Debt Issue Costs</span></div></td><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:115%">Line 13 Exchange</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:115%">Total</span></div></td></tr><tr><td colspan="9" style="padding:0 1pt"/><td colspan="24" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:115%">(in millions)</span></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">Net regulatory asset balance at December 31, 2020...</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">17.7</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">23.2</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">119.4</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">160.3</span></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">Amortization of prior year asset………………….</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(1.5)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(2.1)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(9.5)</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(13.1)</span></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">Net regulatory asset balance at December 31, 2021...</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">$ 16.2</span></div></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">$ 21.1</span></div></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">$ 109.9</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%">$ 147.2</span></div></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Our comparative balance sheet statement for December 31, 2021 and 2020 included $21.1 million and $23.3 million, respectively, for financing costs associated with the establishment of the U.S. Construction Facility in September 2008 and the U.S. Working Capital Facility in September 2010. For further discussion of these facilities, see </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Note 5 Debt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">. Financing costs related to these facilities have been included in our regulatory assets as we are allowed to recover all of the financing costs in establishing these facilities from our shippers as set forth in our settlement agreement with the FERC. Although the related facilities were terminated in 2014, the related financing costs are still recoverable under our settlement agreement with the FERC and will continue to be amortized over the life of the shipper contracts.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Allowance for Equity Used During Construction </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:28.35pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We have recognized regulatory assets in our comparative balance sheet statement, representing the amounts we are allowed to recover as set forth in our settlement agreement with the FERC, for the effect of income tax expenses we incurred in connection with the income recognized for the Allowance for Equity Used During Construction (AEDC) recorded for the Southern Lights Pipeline. Although we became a nontaxable entity in 2014, the related tax costs are still recoverable under our settlement agreement with the FERC and will continue to be amortized over the life of the shipper contracts. The regulatory assets were reduced at December 31, 2017 in the amount of $15.9 million to reflect the reduction in tax rates from the Tax Cuts and Jobs Act that was passed into law on December 22, 2017.</span></div><div style="text-align:justify;text-indent:28.35pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Regulatory - Southern Lights Tariff Filing</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On November 30, 2020, we filed a new tariff with the FERC. The committed and uncommitted rates became effective January 1, 2021 and are approximately $3.69 and $7.39 per barrel, respectively, representing an increase of about two percent from the rates that were effective January 1, 2020 and approximated $3.61 per barrel for committed volumes and $7.22 per barrel for uncommitted volumes.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Regulatory Liability Related to Cost-of-Service Model</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The rates for our Southern Lights Pipeline are based on a cost-of-service recovery model that follows the FERC’s authoritative guidance and is subject to annual filing requirements with the FERC. Under our cost-of-service tolling methodology we calculate tolls based on forecast volumes and costs. A difference between forecast and actual results causes an under or over collection of tolls in any given year. For the year ended December 31, 2021, and 2020, we had over-collected tolls related to our Southern Lights Pipeline in-part because forecasted costs used to calculate the toll surcharge were higher than the actual costs. For the year ended December 31, 2021, and 2020, we recognized a $4.5 million and $10.3 million reduction, respectively, in “Operating revenues” on our statement of income, along with a corresponding regulatory liability on our comparative balance sheet related to the difference in costs. These costs incurred during 2021 and 2020, were reimbursed in Q1 2022 and 2021, respectively, per TSA.</span></div><div style="padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">5.    DEBT</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Senior Notes</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:109%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%"> In September 2008, we established a $1.17 billion non-revolving construction credit facility, known as the U.S. Construction Facility, with a group of lenders for the purpose of funding capital expenditures that are directly related to the Southern Lights Pipeline and to refinance the indebtedness already incurred to fund such costs. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%"> At December 31, 2013, we had $1,061.0 million outstanding under the U.S. Construction Facility bearing interest at a rate of 2.50% per annum. We made no borrowings or principal repayments on the U.S. Construction Facility during the year ended December 31, 2013.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%"> On August 18, 2014, we completed a private placement of $1.061 billion of senior notes bearing interest at 3.98% per annum. The proceeds of the private placement were used to repay the existing balance on and terminate the U.S. Construction Facility. We made principal payments of $63.7 million and $56.1 million in 2021 and 2020, respectively, and will make bi-annual payments until the final principal payment is made on June 30, 2040. Included in “other deferred charges” on our comparative balance sheet statement for December 31, 2021 and 2020, are $8.1 million and $8.5 million, respectively, of financing costs associated with the establishment of the U.S. credit facility.</span></div>


entity_id: C010819
filing_name: Targa_Gulf_Coast_NGL_Pipeline_LLC_form6_Q4_1650309202
publication_time: 2022-04-18 19:13:22.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Company Business</span><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Targa Gulf Coast NGL Pipeline LLC (TGCPL) is a Delaware limited liability company engaged in the business of transporting natural gas liquids (“NGLs”) in interstate commerce subject to the jurisdiction of the Federal Energy Regulatory Commission (“FERC”) under the Interstate Commerce Act (“ICA”).</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effective October 1, 2020, TGCPL leased one hundred percent of the capacity of certain pipelines from Targa NGL Pipeline Company LLC. TGCPL leases an eight-inch diameter pipeline, a 20-inch diameter pipeline, and a 12-inch diameter pipeline that run between Mont Belvieu, Texas, and Galena Park, Texas. Each of these pipelines is regulated under the ICA and is part of an extensive mixed NGL and purity NGL pipeline receipt and delivery system that provides interstate and intrastate transportation of NGLs. TGCPL also leases a twenty-inch diameter pipeline that runs between Mont Belvieu, Texas, and Galena Park, Texas and a twelve-inch diameter pipeline that runs between Mont Belvieu, Texas and Lake Charles, Louisiana, each of which transport NGLs and that have qualified for a waiver of applicable FERC regulatory requirements under the ICA based on current circumstances. TGCPL also leases pipelines that provide only intrastate service between Mont Belvieu, Texas, and Galena Park, Texas, and intermediate locations.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 31, 2005, Targa Resources Inc. acquired Dynegy Midstream Services, Limited Partnership, including its wholly-owned subsidiary, Dynegy NGL Pipeline, LLC. On November 8, 2005, Targa Resources Inc. renamed Dynegy NGL Pipeline Company, LLC, “Targa NGL Pipeline Company LLC.”</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TGCPL is a wholly-owned subsidiary of Targa Downstream LLC, a Delaware limited liability company.</span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Basis of Presentation</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The financial statements and supporting schedules were prepared in accordance with the Uniform System of Accounts as prescribed by the Federal Energy Regulatory Commission (“FERC”). The FERC-approved tariff establishes rates, terms and conditions under which the Company provides services to its customers. The Uniform System of Accounts is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America (“GAAP”). Financial accounting and reporting differences between FERC and GAAP are principally related to account classifications such as but not limited to: Plant held for sale is a current asset for GAAP and is included in gas plant for FERC; costs incurred and revenues collected for future plant retirement costs are classified as a regulatory liability for GAAP and as accumulated provision for depreciation for FERC; and deferred tax assets and liabilities are presented as gross assets and liabilities for FERC purposes, but are netted for GAAP. </span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Income Taxes</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is organized as a limited liability company and is treated as a partnership for U.S. federal and state income tax purposes. As such, the Company is generally not subject to federal or state income taxes. All revenues and expenses of the Company are reportable in the federal and state income tax returns of its Members.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FERC allows adjustments to the financial statements for allowable income taxes. The below table describes the state and federal income tax provision at December 31, 2021 and the related effective tax rate.</span></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:85.060%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.740%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TOTAL PROVISION</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increment to State Deferred Income Tax</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(29,851)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increment to Federal Deferred Income Tax</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(454,563)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current Provision/(Benefit) - State</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">183,550 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current Provision/(Benefit) - Federal</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,795,091 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total 2021 Provision/(benefit)</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2,494,227</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Effective Tax Rate</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">22.07</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">%</span></td></tr></table><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Property, Plant and Equipment</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment as of December 31, 2021, consists of pipeline assets leased through Targa NGL Pipeline company LLC.</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.684%"><tr><td style="width:1.0%"/><td style="width:49.755%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.965%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2020</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Useful Life</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Capacity Finance Lease, Right-of-use Assets</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">29,774,314 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">29,774,314 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25</span></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, Plant and Equipment</span></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">29,774,314</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">29,774,314</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accumulated Depreciation</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,587,963)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(297,743)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, Plant and Equipment, net</span></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">28,186,351</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">29,476,571</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For the years ended December 31, 2021 and December 31, 2020, depreciation expense was $1.3M and $0.3M.</span></div>


entity_id: C008892
filing_name: Grand_Prix_Pipeline_LLC_form6_Q4_1650309145
publication_time: 2022-04-18 19:12:25.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Company Business</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Grand Prix Pipeline LLC (“Grand Prix JV” or the “Company”) is a limited liability company formed in August 2017 to design, construct and own a natural gas liquids (“NGL”) 0pipeline (the “Pipeline”) to transport NGL volumes from the Permian Basin to the NGL market hub at Mont Belvieu, Texas. In this report, unless the context requires otherwise, references to “we,” “us,” “our” or “the Company” are intended to mean our business and operations.</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company was a wholly-owned subsidiary of Targa Downstream LLC (“Targa” or “Targa Downstream LLC” or “Managing Member” or “Operator”) prior to September 6, 2017 when BCP Grand Prix LLC (“Blackstone”) purchased a 25% interest in Grand Prix JV from Targa for $60.0 million. Targa contributed and assigned certain assets and agreements to Grand Prix JV, which included work- in-process property, plant and equipment, rights of way, permits and certain engineering, construction and logistics agreements. The Company treated Targa’s initial asset contribution as a common control transaction and recorded the contribution based on Targa historical amounts.</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Concurrent with the purchase by Blackstone of its interest in Grand Prix JV from Targa, Targa Liquids Marketing and Trade LLC (“TLMT”) (an affiliate of Targa) and EagleClaw Midstream Ventures, LLC ("EagleClaw"), a Blackstone portfolio company, executed a long-term Raw Product Purchase Agreement (“RPP Agreement”) whereby EagleClaw dedicated and committed significant NGLs associated with EagleClaw's natural gas volumes produced or processed in the Delaware Basin to TLMT. The RPP Agreement is effective through June 30, 2034, at which date the agreement shall continue for successive twelve-month periods until written notice of at least 270 days is provided by either party.</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In February 2018, Targa formed three development joint ventures (collectively, the “DevCo JVs”) with investment vehicles affiliated with Stonepeak Infrastructure Partners (“Stonepeak”). Grand Prix Development LLC (or “Grand Prix DevCo”) was formed to fund portions of Grand Prix JV, while the two other DevCo JVs were formed to fund two other Targa capital projects. We refer to the three projects collectively as the “DevCo Projects.”</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For a four-year period beginning on the date that all three of the DevCo Projects commenced commercial operations (the “Lock-Up Period”), Targa has the option to acquire all or part of Stonepeak’s interests in the DevCo JVs (the “Call Right Option”). Targa may acquire up to 50% of Stonepeak’s invested capital in multiple increments with a minimum of $100 million, and would be required to buy Stonepeak’s remaining 50% interest in a single final purchase. The acquisition of interest must be made in equal proportional installments for each of the three DevCo JVs. The purchase price payable for such partial or full interests would be based on a predetermined fixed return or multiple on invested capital, including distributions received by Stonepeak from the DevCo JVs. All of the DevCo Projects commenced commercial operations during 2019.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On February 2, 2018, Targa transferred and assigned 20% of its interest in Grand Prix JV to Grand Prix DevCo in exchange for 5% ownership of Grand Prix DevCo and Stonepeak contributed $97.9 million in exchange for 95% ownership of Grand Prix DevCo.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">After the formation of Grand Prix DevCo, Grand Prix JV is owned 55% by Targa, 20% by Grand Prix DevCo and 25% by Blackstone, collectively the “Members.”</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Targa is the operator and was the construction manager of the Pipeline. TLMT is a committed shipper for 95% of the intrastate capacity on the Pipeline. The Pipeline is supported primarily by TLMT and EagleClaw NGL volume commitments. Construction was completed and the Pipeline began operations in the third quarter of 2019. A portion of the Pipeline within the Permian Basin was operational starting in April 2018.</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Along with the Pipeline owned by Grand Prix JV, Targa’s affiliate, Targa NGL Pipeline Company LLC (“Targa NGL”), owns two additional segments. The Grand Prix JV pipeline along with the two additional Targa NGL segments are referred to as the “Targa Grand Prix Project” in this report.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In its entirety, the primary segments of the Targa Grand Prix Project are:</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">A 24-inch diameter pipeline segment with a length of approximately 560 miles from the Permian Basin to North Texas. The capacity of this pipeline segment from the Permian Basin is expandable to 550 thousand barrels per day (“MBbl/d”), with the addition of pump stations along the pipeline. This segment is part of Grand Prix JV.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:122%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:122%;padding-left:14.5pt">A pipeline segment from North Texas into southern Oklahoma. This segment is not part of Grand Prix JV.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">The three segments listed above connect to a 30-inch diameter pipeline segment with a length of approximately 275 miles from North Texas to Mont Belvieu (the “Mont Belvieu Segment”). The Mont Belvieu Segment transports Permian, North Texas and Oklahoma volumes to Mont Belvieu, and has a capacity expandable to 950 MBbl/d, with the addition of pump stations along the pipeline. The volumes flowing through the Mont Belvieu Segment that originate from the Permian Basin are part of Grand Prix JV. Volumes originating from Oklahoma and North Texas flowing through the Mont Belvieu Segment are solely for Targa’s benefit and not part of Grand Prix JV.</span></div><div><span><br/></span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Distributions</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In accordance with the terms of the GP LLC Agreement, to the extent that available cash, distributed as described below, exceeds a member’s proportional share of the total distributions based on the ownership percentage (“Excess Distribution Amount”), that member’s capital account shall be allocated income equal to the Excess Distribution Amount.</span></div><div style="text-align:justify;text-indent:5.95pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The GP LLC Agreement specifically provides for the calculation and allocation of distributions to Targa and Blackstone dependent upon the nature of the NGL volumes shipped, including:</span></div><div style="text-indent:6pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">NGL volumes originating in the Permian Basin and traveling to the final destination point of the pipeline of Mont Belvieu, Texas (“Permian Shipments”). Distributions associated with Permian Shipments will be split between Targa, Grand Prix DevCo and Blackstone in accordance with the GP LLC Agreement and the DevCo LLC Agreement;</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">NGL volumes shipped by Targa and its affiliates utilizing unused capacity on the Pipeline that do not travel to the final destination of Mont Belvieu (“ShortHaul Shipments”). Distributions associated with ShortHaul Shipments will be split between Targa, Grand Prix DevCo and Blackstone with pricing terms in accordance with the GP LLC Agreement and DevCo LLC Agreement; and,</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">NGL volumes shipped by Targa and its affiliates using the unused capacity on a second priority and fully interruptible basis on the Mont Belvieu Segment generated by any extension of the Pipeline into areas outside the Permian Basin constructed at Targa’s sole expense, or utilizing capacity on the Mont Belvieu Segment in excess of 550 MBbl/d. All proceeds associated with these volumes will be distributed 100% to Targa.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">All other available cash, less the amount of the cash reserves (as recommended by the Operator and approved by the Management Committee), will be distributed on a quarterly basis to Targa, Grand Prix DevCo and Blackstone in accordance with their percentage interests. In the event the Call Right Option is fully exercised and the multiple on invested capital requirement is met, the distribution to Grand Prix DevCo would cease.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">All actions proposed to be taken by or on behalf of the Company or any of its subsidiaries and all actions that pursuant to the LLC Agreement require action by, the approval of, or a determination by the Management Committee, shall require a majority vote or consent of the managers. Certain actions, including those identified in the LLC Agreement that are proposed to be taken by or on behalf of the Company or any of its subsidiaries shall require a 90%, or “super majority” vote or consent of the managers.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Basis of Presentation</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The financial statements and supporting schedules were prepared in accordance with the Uniform System of Accounts as prescribed by the Federal Energy Regulatory Commission (“FERC”). The FERC-approved tariff establishes rates, terms and conditions under which the Company provides services to its customers. The Uniform System of Accounts is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America (“GAAP”). Financial accounting and reporting differences between FERC and GAAP are principally related to account classifications such as but not limited to: Plant held for sale is a current asset for GAAP and is included in gas plant for FERC; </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">costs incurred and revenues collected for future plant retirement costs are classified as a regulatory liability for GAAP and as accumulated provision for depreciation for FERC; and deferred tax assets and liabilities are presented as gross assets and liabilities for FERC purposes, but are netted for GAAP. </span></div><div><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Income Taxes</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Income taxes are recorded in accordance with the FERC Policy Statement on Income Tax Allowances permitting the accrual of income taxes on a pass-through entity. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted statutory tax rates in effect for the years in which the differences are expected to reverse. Actual income taxes could vary from these estimates due to future changes in income tax law or results from the final review of tax returns by federal or state authorities. </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company is organized as a limited liability company and is treated as a partnership for U.S. federal and state income tax purposes. As such, the Company is generally not subject to federal or state income taxes. All revenues and expenses of the Company are reportable in the federal and state income tax returns of its Members.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">FERC allows adjustments to the financial statements for allowable income taxes. The below table describes the state and federal income tax provision at December 31, 2021 and the related effective tax rate.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:71.816%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.984%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TOTAL PROVISION</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increment to State Deferred Income Tax</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">521,271 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increment to Federal Deferred Income Tax</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,510,696 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current Provision/(Benefit) - State</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,015,135 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current Provision/(Benefit) - Federal</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,295,290 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total 2021 Provision/(benefit)</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">53,342,392</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Effective Tax Rate</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.82</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">%</span></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Property, Plant and Equipment </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Property, plant and equipment as of December 31, 2021 and December 31, 2020, consists of pipeline assets, rights of way and construction in progress for the Pipeline. </span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.857%"><tr><td style="width:1.0%"/><td style="width:46.175%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.092%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.451%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.882%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2020</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:1.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">Useful Life</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.55pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pipeline</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,378,189,879 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="padding:2px 0 2px 1pt;text-align:left;text-indent:3.25pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,362,869,117 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:1.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 20 - 25 </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Rights of Way</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">243,533,723 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235,786,238 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:1.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 20 - 25 </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other Property, Plant and Equipment</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,058,772 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,981,026 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:1.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 20 - 25 </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Construction in Progress</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">40,935,087 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,069,588 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">Finance Lease, Right-of-use Assets</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">1,865,128 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">1,614,467 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">—</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:22.5pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Property, Plant and Equipment</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">1,666,582,588</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">1,652,320,436</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:22.5pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">Accumulated Depreciation</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">(172,405,356)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">(107,552,194)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:41.4pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:89%">Property, Plant and Equipment, net</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:89%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:89%">1,494,177,232</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:89%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;text-indent:3.3pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:89%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:89%">1,544,768,241</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:89%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:0 1pt"/></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For the years ended December 31, 2021 and December 31, 2020, depreciation expense was $64.9 million and $64.7 million.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Asset Retirement Obligations</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Our ARO primarily relates to our pipeline assets. </span><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The changes in our ARO are as follows:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:80.803%"><tr><td style="width:1.0%"/><td style="width:53.227%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.104%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.369%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.55pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beginning Period</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,750,144 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="padding:2px 0 2px 1pt;text-align:left;text-indent:3.25pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,003,349 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,192,758 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjustment</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">469,957</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">554,037</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">End of Period</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">10,220,101</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">9,750,144</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Members’ Interest</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On September 6, 2017, (i) Targa made an initial asset contribution to Grand Prix JV of $92.3 million, which represented all of Targa’s rights in and to various assets, contracts and other rights relating to Grand Prix JV developed or acquired by Targa prior to the effective date of the GP LLC Agreement, (ii) Blackstone made an initial cash contribution to Grand Prix JV of $60.0 million, and (iii) an amount equal to Blackstone’s initial cash contribution was distributed to Targa as a partial reimbursement of pre-formation expenditures. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:112%">Grand Prix DevCo</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In February 2018, Grand Prix DevCo was formed to fund a 20% interest in Grand Prix JV. As of December 31, 2021, Stonepeak owned a 95% interest in Grand Prix DevCo and Targa held the remaining 5% interest. Stonepeak committed a maximum of approximately $312 million of capital to Grand Prix DevCo. Following the DevCo Repurchase in January 2022, Targa indirectly owns a 75% interest in the Grand Prix JV.</span></div>


entity_id: C000841
filing_name: Platte_Pipe_Line_Company,_LLC_form6_Q4_1650295067
publication_time: 2022-04-18 15:17:47.000000
start_date: 2021-01-01
end_date: 2021-12-31
disclosure_of_important_notes_regarding_financial_statements_text_block:
  <div style="margin-bottom:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:9.67pt">SUMMARY</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">OF</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">SIGNIFICANT</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">ACCOUNTING</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">POLICIES</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">The financial statements of Platte Pipeline have been prepared in accordance with accounting requirements of the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">FERC, as set forth in the applicable Uniform System of Accounts and published accounting releases (“FERC USA”),</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">which</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">a</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">comprehensive</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">basis</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">accounting</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">other</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">than</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">accounting</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">principles</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">generally</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">accepted</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">United</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">States</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">America</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">(“US</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">GAAP”).</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">These financial statements have been prepared solely for the purpose of reporting as prescribed by the FERC and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">exclude any purchase price adjustments as a result of Spectra Energy’s acquisition of the Platte Pipeline, or Spectra</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Energy’s amalgamation</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">with</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Enbridge.</span></div><div style="margin-bottom:6pt;padding-left:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">MEASUREMENT</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">UNCERTAINTY</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">The preparation of these financial statements requires management to make estimates and assumptions that affect</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the reported amounts of assets, liabilities, revenue, expenses and the disclosure of contingent assets and liabilities.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Management of the Company regularly evaluates these estimates, utilizing historical experience, consultation with</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">experts and other methods considered reasonable in the circumstances. Nevertheless, actual results may differ</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">significantly from these estimates. Any effects on the financial statements resulting from revisions to these estimates</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">recorded</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">period</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">which</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">facts</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">that</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">give</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">rise</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">revision</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">become</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">known.</span></div><div style="margin-bottom:6pt;padding-left:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">CASH</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Cash is held in major banks in the United States of America, which from time to time may exceed federally insured</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">limits. Management periodically assesses the financial condition of the financial institution and believes that any</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">possible</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">credit</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">loss is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">minimal.</span></div><div style="margin-bottom:6pt;padding-left:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">PROPERTY,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">PLANT</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">AND</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">EQUIPMENT</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Property, plant and equipment, including pipelines, tanks, buildings and other equipment, are stated at cost less</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">accumulated depreciation. Cost includes all direct expenditures for system expansion, betterments and replacements,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">capitalized</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">interest.</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Depreciation of regulated assets is recorded on a straight-line basis over their useful lives.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Depreciation rates for</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">regulated assets are approved by the regulator.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">The average depreciation period is approximately 30 years.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Assets</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">under</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">construction</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">not</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">depreciated</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">until</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">they</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">placed</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">service.</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cost of depreciable property retired, together with removal costs less salvage, is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">charged to accumulated</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">depreciation.</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">The</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">carrying</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">value</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">an</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">item</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">property,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">plant</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">equipment</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">tested</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">for</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">recoverability</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">whenever</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">events</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">or</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">changes</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">in circumstances indicate that the carrying amount may not be recoverable.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">An impairment loss is recognized when</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">carrying</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">amount</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is not</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">recoverable</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">exceeds its fair</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">value.</span></div><div style="margin-bottom:6pt;padding-left:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ASSET</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">RETIREMENT</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">OBLIGATION</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte Pipeline recognizes the fair value of a future asset retirement obligation, if determinable, as a liability in the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets which results</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">from</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">acquisition,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">construction,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">development,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and/or</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">normal</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">use</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">assets.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">concurrently</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">recognizes</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">a</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">corresponding</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">increase</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">carrying</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">amount</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">related</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">long-lived</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">asset</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">that</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">depreciated</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">over</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">life of the asset. The fair value of the asset retirement obligation is estimated using the expected cash flow approach</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">that reflects a range of possible outcomes discounted at a credit-adjusted risk-free interest rate. Subsequent to the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">initial</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">measurement,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">asset</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">retirement</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">obligation</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">adjusted</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">at</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">end</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">each</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">period</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">reflect</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">passage</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">time</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and changes in the estimated future cash flows underlying the obligation. Changes in the obligation due to the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">passage of time are recognized in income as an operating expense using the interest method. Changes in the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">obligation due to changes in estimated cash flows are recognized as an adjustment of the carrying amount of the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">related</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">long-lived</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">asset</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">that</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is depreciated</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">over</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">remaining</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">life</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">asset.</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">As the fair value of future removal and site restoration costs for the Company’s pipeline systems is not currently</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">determinable,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">has</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">not</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">recognized</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">an</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">asset</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">retirement</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">obligation</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">as</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">at</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">December</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">31,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">2020.</span></div><div style="padding-left:27pt"><span><br/></span></div><div style="margin-bottom:6pt;padding-left:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">FINANCIAL</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">INSTRUMENTS</span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">(i)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:8.24pt">Initial</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">measurement:</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Financial instruments are measured at fair value on origination or acquisition, adjusted by, in the case of financial</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">instruments that will not be subsequently measured at fair value, financing fees and transaction costs.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">All other</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">transaction</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">costs are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">recognized</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">net</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">earnings</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">period</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">incurred.</span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">(ii)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:5.8pt">Subsequent</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">initial</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">recognition:</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Subsequent to initial recognition,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">financial assets and liabilities held-to-maturity, are measured at amortized cost.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">All</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">other financial assets and liabilities are initially measured at fair value, and are not re-measured subsequently to fair</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">value</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">because</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">their</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">initial</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">carrying</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">values</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">approximate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">their</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">fair</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">values</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">due</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">short-term</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">nature</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">instruments.</span></div><div><span><br/></span></div><div><span><br/></span></div><div><span><br/></span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">(iii)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:3.36pt">Impairment:</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">At year-end Platte Pipeline assesses whether there are any indications that a financial asset may be impaired.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">For</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">purposes of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">impairment testing, each individually significant asset is assessed individually.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">When there is an</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">indication of impairment, Platte Pipeline determines whether a significant adverse change has occurred during the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">period in the expected timing or amount of future cash flows from the financial </span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">asset.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">When there has been a</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">significant</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">adverse</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">change,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">carrying</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">value</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">asset</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">reduced</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">highest</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of:</span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">(a.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:6.34pt">The</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">present</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">value</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">expected</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">cash</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">flows,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">and</span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">(b.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:6.34pt">The</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">amount</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">that</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">could</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">be</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">realized</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">by</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">selling</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">asset,</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">When the extent of impairment decreases and the decrease can be related to an event occurring after the impairment</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">was recognized,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">impairment</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is reversed.</span></div><div><span><br/></span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">RELATED</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">PARTY</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">TRANSACTIONS</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Monetary related party transactions and non-monetary related party transactions that have commercial substance are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">measured at the exchange amount.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Where a transaction is not in the normal course of operations, it is measured at</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the exchange amount when there is a substantive change in the ownership of the item transferred and there is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">independent evidence of the exchange amount.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">All other related party transactions are measured at the carrying</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">amount.</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte Pipeline has no direct employees but records direct costs relating to Enbridge Inc.’s employee</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">expenses that</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">relate directly to the Company’s operations.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">All Enbridge Inc. employees that directly work on Platte Pipeline have</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">their salaries, wages, benefits, and pension costs being allocated to Platte Pipeline.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte Pipeline has no pension</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">liability.</span></div><div style="padding-left:27pt"><span><br/></span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">REVENUE</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">RECOGNITION</span></div><div style="padding-left:27pt"><span><br/></span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte Pipeline derives revenues from interstate and intrastate transportation of crude oil and liquid petroleum under</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">tariffs regulated by the FERC. Platte Pipeline recognizes revenue upon delivery of products to its customers, when</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">pricing is determinable and collectability is reasonably assured. Platte Pipeline generally does not own the crude oil</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and liquid petroleum that it transports or stores, and therefore, does not assume significant direct commodity price</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">risk.</span></div>

disclosure_of_significant_rate_or_other_regulatory_matters_text_block:
  <div style="margin-bottom:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:9.67pt">ENVIRONMENTAL LIABILITIES</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte Pipeline is subject to federal and state laws and regulations relating to the protection of the environment.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Environmental</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">inherent</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">liquid</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">operations</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Company</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">could,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">at</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">times,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">be</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">subject</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">environmental cleanup and enforcement actions. Platte Pipeline manages this environmental risk through appropriate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">environmental</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">policies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">practices</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">minimize</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">any</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">impact.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">To</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">extent</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">that</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">we</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">unable</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">recover</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">environmental liabilities through insurance or other potentially responsible parties, we will be responsible for payment</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">liabilities</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">arising</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">from</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">environmental</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">incidents</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">associated</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">with</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">operating</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">activities</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">its</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">business.</span></div>

disclosure_of_details_on_accounting_for_income_taxes_text_block:
  <div style="margin-bottom:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:9.67pt">ACCOUNTING</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">FOR</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">INCOME</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">TAX</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte Pipeline is not taxable entity for federal and state income tax purposes. Accordingly, no recognition is given to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">income taxes for financial reporting purposes. The parent of the Company is a corporation and thereby subject to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">tax.</span></div>

disclosure_of_significant_commitments_or_contingent_assets_or_liabilities_text_block:
  <div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:9.67pt">SIGNIFICANT</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">COMMITMENTS</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">OR</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">CONTINGENT</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">ASSETS</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">OR</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">LIABILITIES</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte Pipeline recognizes liabilities for other contingencies when, after fully analyzing the available information, it</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">determines it is either probable that an asset has been impaired or that a liability has been incurred and the amount of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">impairment or loss can be reasonably estimated.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">When a range of probable loss can be estimated, Platte Pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">accrues the most likely amount, or if no amount is more likely than another, the minimum of the range of probable</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">loss.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">typically</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">legal</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">costs</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">associated</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">with</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">loss</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">contingencies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">as</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">such</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">costs</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">incurred.</span></div><div style="padding-left:27pt"><span><br/></span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Oil</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Custody</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Platte Pipeline. transports crude oil and liquid petroleum owned by its customers for a fee. Virtually all the volume of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">liquid hydrocarbons in the Company's pipeline system at any one time is owned by the Platte Pipeline's customers.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">terms</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Platte</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pipeline’s</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">tariffs,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">losses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">crude</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">oil</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">not</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">resulting</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">from</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">direct</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">negligence</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">may be apportioned among its customers. In addition, Platte Pipeline maintains property insurance coverage with respect</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">crude</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">oil</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">liquid</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">petroleum</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">its custody.</span></div><div style="padding-left:27pt"><span><br/></span></div><div style="margin-bottom:6pt;padding-left:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Rights-of-Way</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pipeline,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">as</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">part</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">its</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">construction</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">process,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">must</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">obtain</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">certain</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">right-of-way agreements</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">from</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">landowners whose property the pipeline will cross. Right-of-way agreements that Platte Pipeline buys are capitalized</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">as</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">part</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">property,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">plant</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">equipment.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Right-of-way</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">agreements</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">that</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">leased</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">from</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">a</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">third</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">party</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">are</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">expensed.</span></div>

disclosure_of_significant_changes_in_operations_during_the_year_text_block:
  <div style="margin-bottom:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:9.67pt">COMPANY</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">ORGANIZATION</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">AND</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">NATURE</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">OF</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">OPERATIONS</span></div><div style="margin-bottom:6pt;padding-left:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">NATURE</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">OF</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">BUSINESS</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">The crude oil pipeline owned by Platte Pipe Line Company, LLC (the “Company”) that runs from Casper, Wyoming to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Wood River, Illinois (“Platte Pipeline”) is interconnected with Express Pipeline which is comprised of Express Pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">LLC and Express Pipeline LP.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Express Pipeline LLC and Express Pipeline LP were formed to build, own and operate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">United</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">States</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Canadian</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">portions,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">respectively,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">a</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">crude</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">oil</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">running</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">from</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Hardisty,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Alberta</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Casper,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Wyoming</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">(“Express</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pipeline”).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">The</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">entire</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">comprised</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pipeline,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Express</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pipeline</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">LP</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Express U.S.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">is</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">known</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">as</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Express</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">System.</span></div><div style="margin-bottom:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">On</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">March</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">14,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">2013</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Spectra</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Energy</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">completed</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">acquisition</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">of the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Express</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Platte</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pipelines</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">from</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Kinder</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Morgan</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">and the Ontario Teacher’s</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Pension Plan. On February 27, 2017 Enbridge acquired both Pipelines</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">through its</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">amalgamation</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">with</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Spectra</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Energy</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:121%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:121%">Corp.</span></div><div style="margin-bottom:6pt;padding-left:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">REGULATION</span></div><div style="padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company’s crude oil and liquid petroleum transportation activities are subject to regulation by the Federal Energy</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Regulatory Commission (“FERC”) and various state authorities. Regulatory bodies exercise statutory authority over</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">such matters as rates of return, construction and operation of facilities, accounting practices, rates and tolls, and</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">contractual</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">agreements with</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">customers.</span></div>


