Equity Method Investments |
9 Months Ended |
|---|---|
Sep. 30, 2015 | |
| Equity Method Investments [Abstract] | |
| Equity Method Investments | Equity Method Investments Certain investments of the Partnership are accounted for under the equity method of accounting. Income and losses from Millennium Pipeline, Hardy Storage and Pennant are reflected in “Equity Earnings in Unconsolidated Affiliates” on the Condensed Statements of Consolidated and Combined Operations (unaudited). These investments are integral to the Partnership’s business. Contributions are made to these equity investees to fund the Partnership’s share of capital projects. Columbia Gas Transmission contributed $1.4 million to Millennium Pipeline for the three months ended September 30, 2015 and made no contributions for the three months ended September 30, 2014. Columbia Gas Transmission received $13.3 million and $14.2 million of earnings distributions from Millennium Pipeline during the three months ended September 30, 2015 and 2014, respectively. Columbia Gas Transmission contributed $1.4 million and $2.6 million to Millennium Pipeline for the nine months ended September 30, 2015 and 2014, respectively. Columbia Gas Transmission received $37.5 million and $26.1 million of earnings distributions from Millennium Pipeline during the nine months ended September 30, 2015 and 2014, respectively. No contributions were made to Hardy Storage during the three months ended September 30, 2015 and 2014. No distributions were received from Hardy Storage during the three months ended September 30, 2015. The Partnership received $0.5 million of earnings distributions from Hardy Storage during the three months ended September 30, 2014. No contributions were made to Hardy Storage during the nine months ended September 30, 2015 and 2014. The Partnership received $1.0 million and $1.5 million of earnings distributions from Hardy Storage during the nine months ended September 30, 2015 and 2014, respectively. No contributions were made to Pennant for the three months ended September 30, 2015 and contributions of $9.0 million were made for the three months ended September 30, 2014. Columbia Midstream received $2.9 million of earnings distributions and a return of capital of $0.2 million from Pennant during the three months ended September 30, 2015. No distributions were received from Pennant during the three months ended September 30, 2014. No contributions were made to Pennant for the nine months ended September 30, 2015 and contributions of $61.2 million were made for the nine months ended September 30, 2014. Columbia Midstream received $5.6 million of earnings distributions and a return of capital of $2.4 million from Pennant during the nine months ended September 30, 2015. No distributions were received from Pennant during the nine months ended September 30, 2014. During the third quarter of 2015, an additional member joined the Pennant joint venture. The member's initial ownership investment in Pennant is 5.00%, and by funding specified, disproportionate investment amounts for future growth projects, the member can invest directly in the growth of Pennant. Such funding will potentially increase the member's ownership in Pennant up to 33.33% over a defined investment period. As a result of the buy-in, Columbia Midstream received $12.7 million in cash and recorded a gain of $2.9 million, and its ownership interest in Pennant decreased from 50.00% to 47.50%. |