Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2017	Nov. 02, 2017
Document And Entity Information [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	This Amendment No. 1 on Form 10-Q/A (this “Amendment”) to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, filed by DCP Midstream, LP with the Securities and Exchange Commission on November 8, 2017 (the “Original Filing”), is for the sole purpose of submitting revised XBRL Interactive Data Files to correct certain formatting errors. Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this Amendment also contains new certifications by the principal executive officer and the principal financial officer as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. Accordingly, Item 6 of Part II of the Original Filing is being amended to include such new certifications as exhibits. Additionally, because this Amendment does not contain or amend any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraphs 4 and 5 of the new Section 302 certifications filed herewith as Exhibits 31.1 and 31.2 have been omitted. Except as specifically described above, this Amendment does not reflect events occurring after the filing of the Form 10-Q, does not update disclosures contained in the Form 10-Q, does not modify or amend the Form 10-Q, and should be read in conjunction with the Original Filing.
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Trading Symbol	DCP
Entity Registrant Name	DCP MIDSTREAM, LP
Entity Central Index Key	0001338065
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		143,309,828

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 312	$ 1
Accounts receivable:
Trade, net of allowance for doubtful accounts of $7 and $4 million, respectively	690	652
Affiliates	138	134
Other	18	6
Inventories	62	72
Unrealized gains on derivative instruments	32	42
Collateral cash deposits	42	71
Other	17	16
Total current assets	1,311	994
Property, plant and equipment, net	8,926	9,069
Goodwill	231	236
Intangible assets, net	109	137
Investments in unconsolidated affiliates	3,002	2,969
Unrealized gains on derivative instruments	4	5
Other long-term assets	188	201
Total assets	13,771	13,611
Accounts payable:
Trade	845	677
Affiliates	57	48
Other	17	10
Current maturities of long-term debt	500	500
Unrealized losses on derivative instruments	42	91
Accrued interest	69	72
Accrued taxes	88	49
Accrued wages and benefits	43	72
Capital spending accrual	17	20
Other	106	84
Total current liabilities	1,784	1,623
Long-term debt	4,711	4,907
Unrealized losses on derivative instruments	10	1
Deferred income taxes	30	28
Other long-term liabilities	193	199
Total liabilities	6,728	6,758
Commitments and contingent liabilities
Equity:
Predecessor equity	0	4,220
Limited partners (143,309,828 and 114,749,848 common units issued and outstanding, respectively)	6,870	2,591
General partner	155	18
Accumulated other comprehensive loss	(9)	(8)
Total partners’ equity	7,016	6,821
Noncontrolling interests	27	32
Total equity	7,043	6,853
Total liabilities and equity	$ 13,771	$ 13,611

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for Doubtful Accounts Receivable, Current	$ 4	$ 4
Common unitholders, units issued (in shares)	143,309,828	114,749,848
Common unitholders, units outstanding (in shares)	143,309,828	114,749,848

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating revenues:
Sales of natural gas, NGLs and condensate	$ 1,936	$ 1,646	$ 5,641	$ 4,431
Transportation, processing and other	162	162	474	469
Trading and marketing (losses) gains, net	(43)	15	10	10
Total operating revenues	2,055	1,823	6,125	4,910
Operating costs and expenses:
Purchases of natural gas and NGLs	1,695	1,437	4,939	3,866
Operating and maintenance expense	168	161	513	506
Depreciation and amortization expense	94	94	282	284
General and administrative expense	69	64	202	187
Asset Impairment Charges	48	0	48	0
Other expense (income), net	0	14	15	(68)
Gain on sale of assets, net	0	(41)	(34)	(35)
Restructuring costs	0	2	0	10
Total operating costs and expenses	2,074	1,731	5,965	4,750
Operating (loss) income	(19)	92	160	160
Earnings from unconsolidated affiliates	74	75	234	214
Interest expense, net	(73)	(77)	(219)	(235)
(Loss) income before income taxes	(18)	90	175	139
Income tax expense	(2)	(1)	(5)	(6)
Net (loss) income	(20)	89	170	133
Net income attributable to noncontrolling interests	0	0	(1)	(1)
Net (loss) income attributable to partners	(20)	89	169	132
Net loss attributable to predecessor operations	0	31	0	105
General partner’s interest in net income	(39)	(31)	(122)	(93)
Net (loss) income allocable to limited partners	$ (59)	$ 89	$ 47	$ 144
Net income per limited partner unit - basic and diluted (in dollars per share)	$ (0.41)	$ 0.78	$ 0.33	$ 1.26
Weighted-average limited partner units outstanding - basic (in shares)	143.3	114.7	143.3	114.7
Weighted-average limited partner units outstanding - diluted (in shares)	143.3	114.7	143.3	114.7
Third Party
Operating revenues:
Sales of natural gas, NGLs and condensate	$ 1,618	$ 1,397	$ 4,756	$ 3,769
Operating costs and expenses:
Purchases of natural gas and NGLs	1,550	1,311	4,528	3,510
Affiliated Entity
Operating revenues:
Sales of natural gas, NGLs and condensate	318	249	885	662
Operating costs and expenses:
Purchases of natural gas and NGLs	$ 145	$ 126	$ 411	$ 356

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ (20)	$ 89	$ 170	$ 133
Other comprehensive income:
Reclassification of cash flow hedge losses into earnings	0	0	1	0
Total other comprehensive income	0	0	1	0
Total comprehensive (loss) income	(20)	89	171	133
Total comprehensive income attributable to noncontrolling interests	0	0	(1)	(1)
Total comprehensive income attributable to partners	$ (20)	$ 89	$ 170	$ 132

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES:
Net income	$ 170	$ 133
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	282	284
Earnings from unconsolidated affiliates	(234)	(214)
Distributions from unconsolidated affiliates	270	274
Net unrealized (gains) losses on derivative instruments	(1)	80
Gain on sale of assets, net	(34)	(35)
Asset Impairment Charges	48	0
Deferred income tax, net	0	3
Other, net	29	28
Change in operating assets and liabilities, which provided (used) cash, net of effects of acquisitions:
Accounts receivable	(59)	(137)
Inventories	10	1
Accounts payable	179	63
Increase (Decrease) in Interest Payable, Net	(4)	(15)
Other current assets and liabilities	19	38
Other long-term assets and liabilities	9	18
Net cash provided by operating activities	684	521
INVESTING ACTIVITIES:
Capital expenditures	(258)	(113)
Investments in unconsolidated affiliates, net	(70)	(38)
Proceeds from sale of assets	130	160
Net cash (used in) provided by investing activities	(198)	9
FINANCING ACTIVITIES:
Proceeds from long-term debt	0	2,926
Payments of long-term debt	(195)	(3,216)
Net change in advances to predecessor from DCP Midstream, LLC	418	150
Distributions to limited partners and general partner	(390)	(362)
Distributions to noncontrolling interests	(6)	(6)
Other	(2)	(10)
Net cash used in financing activities	(175)	(518)
Net change in cash and cash equivalents	311	12
Cash and cash equivalents, beginning of period	1	3
Cash and cash equivalents, end of period	$ 312	$ 15

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Millions	Total	Limited Partners	General Partner	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interests
Beginning balance (Predecessor) at Dec. 31, 2015	$ 4,287
Beginning balance at Dec. 31, 2015	7,092	$ 2,762	$ 18	$ (8)	$ 33
Increase (Decrease) in Partners' Capital [Roll Forward]
Net (loss) income \| Predecessor	(105)
Net (loss) income	133	144	93		1
Other comprehensive income	0
Net change in parent advances \| Predecessor	150
Net change in parent advances	150
Distributions to limited partners and general partner	(362)	(269)	(93)
Distributions to noncontrolling interests	(6)				(6)
Ending balance (Predecessor) at Sep. 30, 2016	4,332
Ending balance at Sep. 30, 2016	7,007	2,637	18	(8)	28
Increase (Decrease) in Partners' Capital [Roll Forward]
Net (loss) income	89
Other comprehensive income	0
Ending balance (Predecessor) at Sep. 30, 2016	4,332
Ending balance at Sep. 30, 2016	7,007	2,637	18	(8)	28
Beginning balance (Predecessor) at Dec. 31, 2016	4,220
Beginning balance at Dec. 31, 2016	6,853	2,591	18	(8)	32
Increase (Decrease) in Partners' Capital [Roll Forward]
Net (loss) income	170	47	122		1
Other comprehensive income	1			1
Net change in parent advances	418	418
Acquisition of the DCP Midstream Business \| Predecessor	(4,220)
Acquisition of the DCP Midstream Business	(4,220)
Deficit purchase price under carrying value of the Transaction	3,092	3,094		(2)
Issuance of 28,552,480 common units and 2,550,644 general partner units to DCP Midstream, LLC and affiliates	1,125	1,033	92
Distributions to limited partners and general partner	(390)	(313)	(77)
Distributions to noncontrolling interests	(6)				(6)
Ending balance (Predecessor) at Sep. 30, 2017	0
Ending balance at Sep. 30, 2017	7,043	6,870	155	(9)	27
Increase (Decrease) in Partners' Capital [Roll Forward]
Net (loss) income	(20)
Other comprehensive income	0
Ending balance (Predecessor) at Sep. 30, 2017	0
Ending balance at Sep. 30, 2017	$ 7,043	$ 6,870	$ 155	$ (9)	$ 27

Description of Business and Basis of Presentation	9 Months Ended
Description of Business and Basis of Presentation	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation DCP Midstream, LP, with its consolidated subsidiaries, or "us", "we", "our" or the "Partnership" is a Delaware limited partnership formed in 2005 by DCP Midstream, LLC to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. Our Partnership includes our Gathering and Processing and Logistics and Marketing segments. For additional information regarding these segments, see Note 16 - Business Segments. Our operations and activities are managed by our general partner, DCP Midstream GP, LP, which in turn is managed by its general partner, DCP Midstream GP, LLC, which we refer to as the General Partner, and is 100% owned by DCP Midstream, LLC. DCP Midstream, LLC and its subsidiaries and affiliates, collectively referred to as DCP Midstream, LLC, is owned 50% by Phillips 66 and 50% by Enbridge, Inc and its affiliates, or Enbridge. Spectra Energy Corp owned 50% of DCP Midstream, LLC prior to the completion of its merger with Enbridge in the first quarter of 2017. DCP Midstream, LLC directs our business operations through its ownership and control of the General Partner. As of September 30, 2017, DCP Midstream, LLC owned approximately 38.1% of us, including limited partner and general partner interests. On December 30, 2016, we entered into a Contribution Agreement (the “Contribution Agreement”) with DCP Midstream, LLC and DCP Midstream Operating, LP (the “Operating Partnership”), a 100% owned subsidiary of the Partnership, which closed effective January 1, 2017. The transactions and documents contemplated by the Contribution Agreement are collectively referred to hereafter as the “Transaction.” Our predecessor results consist of all of the ownership interests of DCP Midstream, LLC in all of its subsidiaries that owned operating assets ("The DCP Midstream Business"), which we acquired from DCP Midstream, LLC on January 1, 2017. This transfer of net assets between entities under common control was accounted for as if the transfer occurred at the beginning of the period, and prior years were retrospectively adjusted to furnish comparative information, similar to the pooling method. Accordingly, our condensed consolidated financial statements include the historical results of The DCP Midstream Business for all periods presented. For additional information regarding the Transaction, see Note 3 - Acquisitions. The condensed consolidated financial statements include the accounts of the Partnership and all majority-owned subsidiaries where we have the ability to exercise control. Investments in greater than 20% owned affiliates that are not variable interest entities and where we do not have the ability to exercise control, and investments in less than 20% owned affiliates where we have the ability to exercise significant influence, are accounted for using the equity method. The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. Conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and notes. Although these estimates are based on management’s best available knowledge of current and expected future events, actual results could differ from those estimates. All intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements in this Quarterly Report on Form 10-Q have been prepared pursuant to the rules and regulations of the SEC. Accordingly, these condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the respective interim periods. Certain information and note disclosures normally included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted from these interim financial statements pursuant to such rules and regulations, although we believe that the disclosures made are adequate to make the information presented not misleading. Results of operations for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. These unaudited condensed consolidated financial statements and other information included in this Quarterly Report on Form 10-Q should be read in conjunction with the 2016 audited consolidated financial statements and notes thereto included as Exhibit 99.4 in the May 2017 8-K.

New Accounting Pronouncements	9 Months Ended
New Accounting Pronouncements	Sep. 30, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Financial Accounting Standards Board, or FASB, Accounting Standards Update, or ASU, 2016-15 “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” or ASU 2016-15 - In August 2016, the FASB issued ASU 2016-15, which amends certain cash flow statement classification guidance. We intend to adopt this ASU for interim and annual reporting periods beginning after December 15, 2017. The adoption of this ASU will have no impact on our condensed consolidated cash flows. FASB ASU, 2016-02 “Leases (Topic 842),” or ASU 2016-02 - In February 2016, the FASB issued ASU 2016-02, which requires lessees to recognize a lease liability on a discounted basis and the right of use of a specified asset at the commencement date for all leases. This ASU is effective for interim and annual reporting periods beginning after December 15, 2018, with the option to early adopt for financial statements that have not been issued. We are currently evaluating the potential impact this standard will have on our condensed consolidated financial statements and related disclosures. FASB ASU 2014-09 “Revenue from Contracts with Customers (Topic 606),” or ASU 2014-09 and related interpretations and amendments - In May 2014, the FASB issued ASU 2014-09, which supersedes the revenue recognition requirements of Accounting Standards Codification Topic 605 “Revenue Recognition.” This ASU is effective for annual reporting periods beginning after December 15, 2017, with the option to adopt as early as annual reporting periods beginning after December 15, 2016. We plan to adopt this ASU using the modified retrospective method. The initial cumulative effect will be recognized at the date of adoption. Our evaluation of ASU 2014-09 is ongoing and not complete. The FASB has issued and may issue in the future, interpretative guidance, which may cause our evaluation to change. Accordingly, at this time we cannot estimate the impact upon adoption.

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions On January 1, 2017, DCP Midstream, LLC contributed to us: (i) its ownership interests in all of its subsidiaries owning operating assets, and (ii) $424 million of cash (together the “Contributions”). In consideration of the Partnership’s receipt of the Contributions, (i) the Partnership issued 28,552,480 common units to DCP Midstream, LLC and 2,550,644 general partner units to the General Partner in a private placement and (ii) the Operating Partnership assumed $3,150 million of DCP Midstream, LLC’s debt. Pursuant to the Contribution Agreement, DCP Midstream, LLC agreed to cause the General Partner to enter into Amendment No. 3 (the “Third Amendment to the Partnership Agreement”) to the Second Amended and Restated Agreement of Limited Partnership of the Partnership, dated November 1, 2006, as amended (the “Partnership Agreement”). The Third Amendment to the Partnership Agreement includes terms that amend the Partnership Agreement to cause the incentive distributions payable to the holders of the Partnership’s incentive distribution rights with respect to the fiscal years 2017, 2018 and 2019 to, in certain circumstances, be reduced in an amount up to $100 million per fiscal year as necessary to provide that the distributable cash flow of the Partnership (as adjusted) during such year meets or exceeds the amount of distributions made by the Partnership (as adjusted) to the partners of the Partnership with respect to such year.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Dispositions	9 Months Ended
Dispositions	Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	Dispositions In June 2017, we closed a transaction with Tallgrass Midstream, LLC to sell our 100% interest in our Douglas gathering system, which primarily consisted of approximately 1,500 miles of gathering lines within our Gathering and Processing segment, for approximately $129 million, subject to customary purchase price adjustments. We recognized a gain of approximately $34 million, net of goodwill allocation, in the second quarter of 2017.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Agreements and Transactions with Affiliates

9 Months Ended

Sep. 30, 2017

Agreements and Transactions with Affiliates

DCP Midstream, LLC

Services Agreement and Other General and Administrative Charges

Pursuant to the Contribution Agreement, on January 1, 2017, the Partnership entered into the Services and Employee Secondment Agreement (the “Services Agreement”), which replaced the services agreement between the Partnership and DCP Midstream, LLC, dated February 14, 2013, as amended. Under the Services Agreement, we are required to reimburse DCP Midstream, LLC for costs, expenses, and expenditures incurred or payments made on our behalf for general and administrative functions including, but not limited to, legal, accounting, compliance, treasury, insurance administration and claims processing, risk management, health, safety and environmental, information technology, human resources, benefit plan maintenance and administration, credit, payroll, internal audit, taxes and engineering, as well as salaries and benefits of seconded employees, insurance coverage and claims, capital expenditures, maintenance and repair costs and taxes. There is no limit on the reimbursements we make to DCP Midstream, LLC under the Services Agreement for costs, expenses and expenditures incurred or payments made on our behalf. The following table summarizes employee related costs that were charged by DCP Midstream, LLC to the Partnership that are included in the condensed consolidated statements of operations:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(Millions)
Employee related costs charged by DCP Midstream, LLC
Operating and maintenance expense	$	50	$	51	$	149	$	158
General and administrative expense (including restructuring charges)	$	46	$	47	$	116	$	142

Phillips 66 and its Affiliates

We sell a portion of our residue gas and NGLs to Phillips 66 and Chevron Phillips Chemical LLC, or CPChem. In addition, we purchase NGLs from CPChem. CPChem is owned 50% by Phillips 66, and is considered a related party. Approximately 22% of our NGL production was committed to Phillips 66 and CPChem as of September 30, 2017. The primary production commitment on certain contracts began a ratable wind down period in December 2014 and expires in January 2019. We anticipate continuing to purchase and sell commodities with Phillips 66 and CPChem in the ordinary course of business.

Enbridge and its Affiliates

We sell NGLs to and purchase NGLs from Enbridge and its affiliates. We anticipate continuing to sell commodities to and purchase commodities from Enbridge and its affiliates in the ordinary course of business.

Unconsolidated Affiliates

We have entered into 15-year transportation agreements, with Sand Hills Pipeline, LLC, or Sand Hills, Southern Hills Pipeline, LLC, or Southern Hills, Front Range Pipeline LLC, or Front Range, and Texas Express Pipeline LLC, or Texas Express. Under the terms of these 15-year agreements, which commenced at each of the pipelines’ respective in-service dates and expire between 2028 and 2029, we have committed to transport minimum throughput volumes at rates defined in each of the pipelines’ respective tariffs.

We also sell a portion of our residue gas and NGLs to, purchase natural gas and other NGL products from, and provide gathering and transportation services to other unconsolidated affiliates. We anticipate continuing to purchase and sell commodities and provide services to unconsolidated affiliates in the ordinary course of business.

Under the terms of the Sand Hills LLC Agreement and the Southern Hills LLC Agreement, or the Sand Hills and Southern Hills LLC Agreements, Sand Hills and Southern Hills are required to reimburse us for any direct costs or expenses (other than general and administration services) which we incur on behalf of Sand Hills and Southern Hills. Additionally, Sand Hills and Southern Hills each pay us an annual service fee of $5 million, for centralized corporate functions provided by us as operator of Sand Hills and Southern Hills, including legal, accounting, cash management, insurance administration and claims processing, risk management, health, safety and environmental, information technology, human resources, credit, payroll, taxes and engineering. Except with respect to the annual service fee, there is no limit on the reimbursements Sand Hills and Southern Hills make to us under the Sand Hills and Southern Hills LLC Agreements for other expenses and expenditures which we incur on behalf of Sand Hills or Southern Hills.

Summary of Transactions with Affiliates

The following table summarizes our transactions with affiliates:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(Millions)
Phillips 66 (including its affiliates):
Sales of natural gas, NGLs and condensate to affiliates	$	289	$	237	$	814	$	633
Purchases of natural gas and NGLs from affiliates	$	7	$	6	$	22	$	12
Operating and maintenance and general administrative expenses	$	—	$	1	$	1	$	1
Enbridge (including its affiliates):
Sales of natural gas, NGLs and condensate to affiliates	$	14	$	—	$	34	$	—
Purchases of natural gas and NGLs from affiliates	$	12	$	7	$	31	$	25
Operating and maintenance and general administrative expenses	$	1	$	1	$	2	$	3
Unconsolidated affiliates:
Sales of natural gas, NGLs and condensate to affiliates	$	15	$	12	$	37	$	29
Transportation, storage and processing to affiliates	$	1	$	—	$	4	$	3
Purchases of natural gas and NGLs from affiliates	$	126	$	113	$	358	$	319

We had balances with affiliates as follows:



	September 30, 2017		December 31, 2016
	(Millions)
Phillips 66 (including its affiliates):
Accounts receivable	$	113	$	115
Accounts payable	$	4	$	4
Other assets	$	1	$	2
Enbridge (including its affiliates):
Accounts receivable	$	7	$	1
Accounts payable	$	7	$	3
Other assets	$	—	$	1
Other liabilities	$	—	$	1
Unconsolidated affiliates:
Accounts receivable	$	18	$	18
Accounts payable	$	46	$	41
Other assets	$	3	$	5

Inventories

9 Months Ended

Sep. 30, 2017

Inventory Disclosure [Abstract]

Inventories

Inventories were as follows:



	September 30, 2017		December 31, 2016
	(Millions)
Natural gas	$	32	$	28
NGLs	30		44
Total inventories	$	62	$	72

We recognize lower of cost or market adjustments when the carrying value of our inventories exceeds their estimated market value. These non-cash charges are a component of purchases of natural gas and NGLs in the condensed consolidated statements of operations. We recognized no lower of cost or market adjustments during the three months ended September 30, 2017 or September 30, 2016. We recognized no lower of cost or market adjustments during the nine months ended September 30, 2017 and $3 million during the nine months ended September 30, 2016.

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

A summary of property, plant and equipment by classification is as follows:



	Depreciable Life	September 30, 2017			December 31, 2016
		(Millions)
Gathering and transmission systems	20 — 50 Years	$	8,447		$	8,560
Processing, storage and terminal facilities	35 — 60 Years	5,107			5,134
Other	3 — 30 Years	539			502
Construction work in progress		288			171
Property, plant and equipment		14,381			14,367
Accumulated depreciation		(5,455		)	(5,298		)
Property, plant and equipment, net		$	8,926		$	9,069

Interest capitalized on construction projects was $2 million and less than $1 million for the three months ended September 30, 2017 and 2016, respectively, and $4 million and less than $1 million for the nine months ended September 30, 2017 and 2016, respectively.

Depreciation expense was $90 million and $91 million for the three months ended September 30, 2017 and 2016, respectively, and $272 million and $275 million for the nine months ended September 30, 2017 and 2016, respectively.

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

We performed our annual goodwill assessment during the third quarter of 2017 at the reporting unit level, which is identified by assessing whether the components of our operating segments constitute businesses for which discrete financial information is available, whether segment management regularly reviews the operating results of those components and whether the economic and regulatory characteristics are similar. As a result of our assessment, we concluded that the fair value of goodwill substantially exceeded its carrying value in our North reporting unit, the only reporting unit allocated goodwill included within our Gathering and Processing reportable segment and in our Marysville reporting unit included within our Logistics and Marketing reportable segment. For our Wholesale Propane reporting unit, which is included in our Logistics and Marketing reportable segment, the fair value exceeded the carrying value (including approximately $37 million of allocated goodwill) by less than 10%. We concluded that the entire amount of goodwill disclosed on the condensed consolidated balance sheet is recoverable.

We primarily used a discounted cash flow analysis, supplemented by a market approach analysis, to perform the assessment. Key assumptions in the analysis include the use of an appropriate discount rate, terminal year multiples, and estimated future cash flows, including an estimate of operating and general and administrative costs. In estimating cash flows, we incorporate current market information (including forecasted volumes and commodity prices), as well as historical and other factors. If actual results are not consistent with our assumptions and estimates, or our assumptions and estimates change due to new information, we may be exposed to goodwill impairment charges, which would be recognized in the period in which the carrying value exceeds fair value.

We expect that the fair value of our Wholesale Propane reporting unit will continue to exceed carrying value so long as our estimate of future cash flows and the market valuation remain consistent with current levels. A continued period of volatile propane prices could result in further deterioration of market multiples, comparable sales transactions prices, weighted average costs of capital, and our cash flow estimates. Changes to any one or combination of these factors, would result in changes to the reporting unit fair values discussed above which could lead to future impairment charges. Such potential impairment could have a material effect on our results of operations.

The carrying amount of goodwill in each of our reportable segments was as follows:



	September 30, 2017
	(Millions)
	Gathering and Processing			Logistics and Marketing		Total
Balance, January 1, 2017	$	164		$	72	$	236
Dispositions	(5		)	—		(5		)
Balance, September 30, 2017	$	159		$	72	$	231

Investments in Unconsolidated Affiliates

9 Months Ended

Sep. 30, 2017

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Affiliates

The following table summarizes our investments in unconsolidated affiliates:



		Carrying Value as of
	Percentage Ownership	September 30, 2017		December 31, 2016
		(Millions)
DCP Sand Hills Pipeline, LLC	66.67%	$	1,563	$	1,507
Discovery Producer Services LLC	40.00%	376		385
DCP Southern Hills Pipeline, LLC	66.67%	741		754
Front Range Pipeline LLC	33.33%	165		165
Texas Express Pipeline LLC	10.00%	90		93
Panola Pipeline Company, LLC	15.00%	24		25
Mont Belvieu Enterprise Fractionator	12.50%	24		23
Mont Belvieu 1 Fractionator	20.00%	13		10
Other	Various	6		7
Total investments in unconsolidated affiliates		$	3,002	$	2,969

Earnings from investments in unconsolidated affiliates were as follows:



	Three Months Ended September 30,					Nine Months Ended September 30,
	2017			2016		2017		2016
	(Millions)
DCP Sand Hills Pipeline, LLC	$	37		$	28	$	105	$	84
Discovery Producer Services LLC	14			20		59		52
DCP Southern Hills Pipeline, LLC	10			13		34		37
Front Range Pipeline LLC	5			5		12		14
Texas Express Pipeline LLC	4			2		7		6
Mont Belvieu Enterprise Fractionator	3			4		10		12
Mont Belvieu 1 Fractionator	2			2		6		7
Other	(1		)	1		1		2
Total earnings from unconsolidated affiliates	$	74		$	75	$	234	$	214

The following tables summarize the combined financial information of our investments in unconsolidated affiliates:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(Millions)
Statements of operations:
Operating revenue	$	358	$	335	$	1,063	$	971
Operating expenses	$	164	$	136	$	464	$	390
Net income	$	194	$	199	$	598	$	576



	September 30, 2017			December 31, 2016
	(Millions)
Balance sheets:
Current assets	$	242		$	232
Long-term assets	5,253			5,274
Current liabilities	(165		)	(156		)
Long-term liabilities	(200		)	(205		)
Net assets	$	5,130		$	5,145

Fair Value Measurement

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurement

Determination of Fair Value

Below is a general description of our valuation methodologies for derivative financial assets and liabilities which are measured at fair value. Fair values are generally based upon quoted market prices or prices obtained through external sources, where available. If listed market prices or quotes are not available, we determine fair value based upon a market quote, adjusted by other market-based or independently sourced market data such as historical commodity volatilities, crude oil future yield curves, and/or counterparty specific considerations. These adjustments result in a fair value for each asset or liability under an “exit price” methodology, in line with how we believe a marketplace participant would value that asset or liability. Fair values are adjusted to reflect the credit risk inherent in the transaction as well as the potential impact of liquidating open positions in an orderly manner over a reasonable time period under current conditions. These adjustments may include amounts to reflect counterparty credit quality, the effect of our own creditworthiness, and/or the liquidity of the market.

•

Counterparty credit valuation adjustments are necessary when the market price of an instrument is not indicative of the fair value as a result of the credit quality of the counterparty. Generally, market quotes assume that all counterparties have near zero, or low, default rates and have equal credit quality. Therefore, an adjustment may be necessary to reflect the credit quality of a specific counterparty to determine the fair value of the instrument. We record counterparty credit valuation adjustments on all derivatives that are in a net asset position as of the measurement date in accordance with our established counterparty credit policy, which takes into account any collateral margin that a counterparty may have posted with us as well as any letters of credit that they have provided.

•

Entity valuation adjustments are necessary to reflect the effect of our own credit quality on the fair value of our net liability positions with each counterparty. This adjustment takes into account any credit enhancements, such as collateral margin we may have posted with a counterparty, as well as any letters of credit that we have provided. The methodology to determine this adjustment is consistent with how we evaluate counterparty credit risk, taking into account our own credit rating, current credit spreads, as well as any change in such spreads since the last measurement date.

•

Liquidity valuation adjustments are necessary when we are not able to observe a recent market price for financial instruments that trade in less active markets for the fair value to reflect the cost of exiting the position. Exchange traded contracts are valued at market value without making any additional valuation adjustments and, therefore, no liquidity reserve is applied. For contracts other than exchange traded instruments, we mark our positions to the midpoint of the bid/ask spread, and record a liquidity reserve based upon our total net position. We believe that such practice results in the most reliable fair value measurement as viewed by a market participant.

We manage our derivative instruments on a portfolio basis and the valuation adjustments described above are calculated on this basis. We believe that the portfolio level approach represents the highest and best use for these assets as there are benefits inherent in naturally offsetting positions within the portfolio at any given time, and this approach is consistent with how a market participant would view and value the assets and liabilities. Although we take a portfolio approach to managing these assets/liabilities, in order to reflect the fair value of any one individual contract within the portfolio, we allocate all valuation adjustments down to the contract level, to the extent deemed necessary, based upon either the notional contract volume, or the contract value, whichever is more applicable.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While we believe that our valuation methods are appropriate and consistent with other market participants, we recognize that the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. We review our fair value policies on a regular basis taking into consideration changes in the marketplace and, if necessary, will adjust our policies accordingly. See Note 12 - Risk Management and Hedging Activities.

Valuation Hierarchy

Our fair value measurements are grouped into a three-level valuation hierarchy and are categorized in their entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows.


•	Level 1 — inputs are unadjusted quoted prices for identical assets or liabilities in active markets.


•	Level 2 — inputs include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.


•	Level 3 — inputs are unobservable and considered significant to the fair value measurement.

A financial instrument’s categorization within the hierarchy is based upon the level of judgment involved in the most significant input in the determination of the instrument’s fair value. Following is a description of the valuation methodologies used as well as the general classification of such instruments pursuant to the hierarchy.

Commodity Derivative Assets and Liabilities

We enter into a variety of derivative financial instruments, which may include exchange traded instruments (such as New York Mercantile Exchange, or NYMEX, crude oil or natural gas futures) or over-the-counter, or OTC, instruments (such as natural gas contracts, crude oil or NGL swaps). The exchange traded instruments are generally executed with a highly rated broker dealer serving as the clearinghouse for individual transactions.

Our activities expose us to varying degrees of commodity price risk. To mitigate a portion of this risk and to manage commodity price risk related primarily to owned natural gas storage and pipeline assets, we engage in natural gas asset based trading and marketing, and we may enter into natural gas and crude oil derivatives to lock in a specific margin when market conditions are favorable. A portion of this may be accomplished through the use of exchange traded derivative contracts. Such instruments are generally classified as Level 1 since the value is equal to the quoted market price of the exchange traded instrument as of our balance sheet date, and no adjustments are required. Depending upon market conditions and our strategy we may enter into exchange traded derivative positions with a significant time horizon to maturity. Although such instruments are exchange traded, market prices may only be readily observable for a portion of the duration of the instrument. In order to calculate the fair value of these instruments, readily observable market information is utilized to the extent it is available; however, in the event that readily observable market data is not available, we may interpolate or extrapolate based upon observable data. In instances where we utilize an interpolated or extrapolated value, and it is considered significant to the valuation of the contract as a whole, we would classify the instrument within Level 3.

We also engage in the business of trading energy related products and services, which exposes us to market variables and commodity price risk. We may enter into physical contracts or financial instruments with the objective of realizing a positive margin from the purchase and sale of these commodity-based instruments. We may enter into derivative instruments for NGLs or other energy related products, primarily using the OTC derivative instrument markets, which are not as active and liquid as exchange traded instruments. Market quotes for such contracts may only be available for short dated positions (up to six months), and an active market itself may not exist beyond such time horizon. Contracts entered into with a relatively short time horizon for which prices are readily observable in the OTC market are generally classified within Level 2. Contracts entered into with a longer time horizon for which prices are not readily observable in the OTC market are generally classified within Level 3.

Each instrument is assigned to a level within the hierarchy at the end of each financial quarter depending upon the extent to which the valuation inputs are observable. Generally, an instrument will move toward a level within the hierarchy that requires a lower degree of judgment as the time to maturity approaches, and as the markets in which the asset trades will likely become more liquid and prices more readily available in the market, thus reducing the need to rely upon our internally developed assumptions. However, the level of a given instrument may change, in either direction, depending upon market conditions and the availability of market observable data.

Interest Rate Derivative Assets and Liabilities

We periodically use interest rate swap agreements as part of our overall capital strategy. These instruments effectively exchange a portion of our fixed-rate debt for floating rate debt or floating rate debt for fixed-rate debt. The swaps are generally priced based upon a London Interbank Offered Rate, or LIBOR, instrument with similar duration, adjusted by the credit spread between our company and the LIBOR instrument. Given that a portion of the swap value is derived from the credit spread, which may be observed by comparing similar assets in the market, these instruments are classified within Level 2. Default risk on either side of the swap transaction is also considered in the valuation. We record counterparty credit and entity valuation adjustments in the valuation of interest rate swaps; however, these reserves are not considered to be a significant input to the overall valuation.

Nonfinancial Assets and Liabilities

We utilize fair value to perform impairment tests as required on our property, plant and equipment, goodwill, and other long-lived intangible assets. Assets and liabilities acquired in third party business combinations are recorded at their fair value as of the date of acquisition. The inputs used to determine such fair value are primarily based upon internally developed cash flow models and would generally be classified within Level 3 in the event that we were required to measure and record such assets at fair value within our condensed consolidated financial statements. Additionally, we use fair value to determine the inception value of our asset retirement obligations. The inputs used to determine such fair value are primarily based upon costs incurred historically for similar work, as well as estimates from independent third parties for costs that would be incurred to restore leased property to the contractually stipulated condition, and would generally be classified within Level 3.

During the nine months ended September 30, 2017, we recognized impairments of property, plant and equipment, intangible assets and investment in unconsolidated affiliates of $48 million in our condensed consolidated statement of operations as summarized in the table below. Our impairment determinations involved significant assumptions and judgments. Differing assumptions regarding any of these inputs could have a significant effect on the various valuations. As such, the fair value measurements utilized within these models are classified as non-recurring Level 3 measurements in the fair value hierarchy because they are not observable from objective sources.

The following tables present the carrying value of assets measured at fair value on a non-recurring basis, by consolidated balance sheet caption and by valuation hierarchy, as of and for the three and nine months ended September 30, 2017:



	Net Carrying Value		Fair Value Measurements Using						Asset Impairments
	Net Carrying Value		Level 1		Level 2		Level 3		Asset Impairments
	(millions)
Three and Nine Months Ended September 30, 2017
Property, plant and equipment	$	14	$	—	$	—	$	14	$	26
Intangible assets	11		—		—		11		21
Investment in unconsolidated affiliates	1		—		—		1		1
Total non-recurring assets at fair value	$	26	$	—	$	—	$	26	$	48

On January 3, 2017, the Chicago Mercantile Exchange ("CME") modified its exchange rules to characterize daily variation margin amounts as "final settlement" values. The modified rule ("CME Rule 814") impacts derivative financial instruments traded on exchanges administered by the CME, including the New York Mercantile Exchange. As a result of this rule change, we are reporting the affected derivative instruments on a net basis on our balance sheet. The netting process results in the elimination of offsetting derivative assets, derivative liabilities and associated collateral cash deposits and related amounts as if the underlying derivative instruments had settled on the balance sheet date. Through December 31, 2016, we historically reported such derivatives and associated collateral balances on a gross basis. Derivative transactions and associated collateral balances cleared on exchanges other than the CME continue to be reported on a gross basis.

The following table presents the financial instruments carried at fair value as of September 30, 2017 and December 31, 2016, by condensed consolidated balance sheet caption and by valuation hierarchy, as described above:



	September 30, 2017												December 31, 2016
	Level 1			Level 2			Level 3			Total Carrying Value			Level 1			Level 2			Level 3			Total Carrying Value
	(Millions)
Current assets:
Commodity derivatives (a)	$	9		$	21		$	2		$	32		$	5		$	28		$	9		$	42
Short-term investments (b)	$	310		$	—		$	—		$	310		$	—		$	—		$	—		$	—
Long-term assets:
Commodity derivatives (c)	$	1		$	2		$	1		$	4		$	—		$	—		$	5		$	5
Current liabilities:
Commodity derivatives (d)	$	(6	)	$	(28	)	$	(8	)	$	(42	)	$	(11	)	$	(57	)	$	(23	)	$	(91	)
Long-term liabilities:
Commodity derivatives (e)	$	(2	)	$	(6	)	$	(2	)	$	(10	)	$	(1	)	$	—		$	—		$	(1	)


(a)	Included in current unrealized gains on derivative instruments in our condensed consolidated balance sheets.


(b)	Includes short-term money market securities included in cash and cash equivalents in our condensed consolidated balance sheets.


(c)	Included in long-term unrealized gains on derivative instruments in our condensed consolidated balance sheets.


(d)	Included in current unrealized losses on derivative instruments in our condensed consolidated balance sheets.


(e)	Included in long-term unrealized losses on derivative instruments in our condensed consolidated balance sheets.

Changes in Levels 1 and 2 Fair Value Measurements

The determination to classify a financial instrument within Level 1 or Level 2 is based upon the availability of quoted prices for identical or similar assets and liabilities in active markets. Depending upon the information readily observable in the market, and/or the use of identical or similar quoted prices, which are significant to the overall valuation, the classification of any individual financial instrument may differ from one measurement date to the next. To qualify as a transfer, the asset or liability must have existed in the previous reporting period and moved into a different level during the current period. In the event that there is a movement between the classification of an instrument as Level 1 or 2, the transfer would be reflected in a table as Transfers into or out of Level 1 and Level 2. During the three and nine months ended September 30, 2017 and 2016, there were no transfers between Level 1 and Level 2 of the fair value hierarchy.

Changes in Level 3 Fair Value Measurements

The tables below illustrate a rollforward of the amounts included in our condensed consolidated balance sheets for derivative financial instruments that we have classified within Level 3. Since financial instruments classified as Level 3 typically include a combination of observable components (that is, components that are actively quoted and can be validated to external sources) and unobservable components, the gains and losses in the table below may include changes in fair value due in part to observable market factors, or changes to our assumptions on the unobservable components. Depending upon the information readily observable in the market, and/or the use of unobservable inputs, which are significant to the overall valuation, the classification of any individual financial instrument may differ from one measurement date to the next. The significant unobservable inputs used in determining fair value include adjustments by other market-based or independently sourced market data such as historical commodity volatilities, crude oil future yield curves, and/or counterparty specific considerations. In the event that there is a movement to/from the classification of an instrument as Level 3, we would reflect such items in the table below within the “Transfers into/out of Level 3” captions.

We manage our overall risk at the portfolio level and in the execution of our strategy, we may use a combination of financial instruments, which may be classified within any level. Since Level 1 and Level 2 risk management instruments are not included in the rollforward below, the gains or losses in the table do not reflect the effect of our total risk management activities.



	Commodity Derivative Instruments
	Current Assets			Long-Term Assets			Current Liabilities			Long-Term Liabilities
	(Millions)
Three months ended September 30, 2017 (a):
Beginning balance	$	7		$	2		$	(2	)	$	(3	)
Net unrealized gains (losses) included in earnings (b)	—			2			(26		)	—
Transfers out of Level 3 (c)	—			—			2			—
Settlements	—			—			2			—
CME Rule 814 adjustment	(5		)	(3		)	16			1
Ending balance	$	2		$	1		$	(8	)	$	(2	)
Net unrealized gains (losses) on derivatives still held included in earnings (b)	$	3		$	2		$	(22	)	$	—
Three months ended September 30, 2016 (a):
Beginning balance	$	5		$	2		$	(8	)	$	(2	)
Net unrealized gains included in earnings (b)	2			—			—			1
Transfers out of Level 3 (c)	(2		)	—			2			—
Settlements	(1		)	—			1			—
Ending balance	$	4		$	2		$	(5	)	$	(1	)
Net unrealized gains on derivatives still held included in earnings (b)	$	1		$	—		$	—		$	1



	Commodity Derivative Instruments
	Current Assets			Long-Term Assets			Current Liabilities			Long-Term Liabilities
	(Millions)
Nine months ended September 30, 2017 (a):
Beginning balance	$	9		$	5		$	(23	)	$	—
Net unrealized gains (losses) included in earnings (b)	4			(1		)	(20		)	(3		)
Transfers out of Level 3 (c)	(4		)	—			12			—
Settlements	(2		)	—			7			—
CME Rule 814 adjustment	(5		)	(3		)	16			1
Ending balance	$	2		$	1		$	(8	)	$	(2	)
Net unrealized gains (losses) on derivatives still held included in earnings (b)	$	7		$	(1	)	$	(21	)	$	(2	)
Nine months ended September 30, 2016 (a):
Beginning balance	$	35		$	4		$	(23	)	$	(6	)
Net unrealized (losses) gains included in earnings (b)	(3		)	(2		)	12			5
Transfers out of Level 3 (c)	(2		)	—			3			—
Settlements	(26		)	—			3			—
Ending balance	$	4		$	2		$	(5	)	$	(1	)
Net unrealized gains (losses) on derivatives still held included in earnings (b)	$	2		$	1		$	(4	)	$	5


(a)	There were no purchases, issuances or sales of derivatives or transfers into Level 3 for the three and nine months ended September 30, 2017 and 2016.


(b)	Represents the amount of unrealized gains or losses for the period, included in trading and marketing gains (losses), net.


(c)	Amounts transferred out of Level 3 are reflected at fair value at the end of the period.

Quantitative Information and Fair Value Sensitivities Related to Level 3 Unobservable Inputs

We utilize the market approach to measure the fair value of our commodity contracts. The significant unobservable inputs used in this approach to fair value are longer dated price quotes. Our sensitivity to these longer dated forward curve prices are presented in the table below. Significant changes in any of those inputs in isolation would result in significantly different fair value measurements, depending on our short or long position in contracts.



	September 30, 2017
Product Group	Fair Value			Forward Curve Range
	(Millions)
Assets
NGLs	$	3		$0.28-$1.22	Per gallon
Liabilities
NGLs	$	(10	)	$0.21-$1.22	Per gallon

Estimated Fair Value of Financial Instruments

Valuation of a contract’s fair value is validated by an internal group independent of the marketing group. While common industry practices are used to develop valuation techniques, changes in pricing methodologies or the underlying assumptions could result in significantly different fair values and income recognition. When available, quoted market prices or prices obtained through external sources are used to determine a contract’s fair value. For contracts with a delivery location or duration for which quoted market prices are not available, fair value is determined based on pricing models developed primarily from historical and expected relationship with quoted market prices.

Values are adjusted to reflect the credit risk inherent in the transaction as well as the potential impact of liquidating open positions in an orderly manner over a reasonable time period under current conditions. Changes in market prices and management estimates directly affect the estimated fair value of these contracts. Accordingly, it is reasonably possible that such estimates may change in the near term.

The fair value of our interest rate swaps, if any, and commodity non-trading derivatives is based on prices supported by quoted market prices and other external sources and prices based on models and other valuation methods. The “prices supported by quoted market prices and other external sources” category includes our interest rate swaps, if any, our NGL and crude oil swaps and our NYMEX positions in natural gas. In addition, this category includes our forward positions in natural gas for which our forward price curves are obtained from a third party pricing service and then validated through an internal process which includes the use of independent broker quotes. This category also includes our forward positions in NGLs at points for which OTC broker quotes for similar assets or liabilities are available for the full term of the instrument. This category also includes “strip” transactions whose pricing inputs are directly or indirectly observable from external sources and then modeled to daily or monthly prices as appropriate. The “prices based on models and other valuation methods” category includes the value of transactions for which inputs to the fair value of the instrument are unobservable in the marketplace and are considered significant to the overall fair value of the instrument. The fair value of these instruments may be based upon an internally developed price curve, which was constructed as a result of the long dated nature of the transaction or the illiquidity of the specific market point.

We have determined fair value amounts using available market information and appropriate valuation methodologies. However, considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange. The use of different market assumptions and/or estimation methods may have a material effect on the estimated fair value amounts.

The fair value of accounts receivable, accounts payable and short-term borrowings are not materially different from their carrying amounts because of the short-term nature of these instruments or the stated rates approximating market rates. Derivative instruments are carried at fair value.

We determine the fair value of our fixed-rate senior notes and junior subordinated notes based on quotes obtained from bond dealers. We determine the fair value of borrowings under our revolving credit facility based upon the discounted present value of expected future cash flows, taking into account the difference between the contractual borrowing spread and the spread for similar credit facilities available in the marketplace. We classify the fair values of our outstanding debt balances within Level 2 of the valuation hierarchy. As of September 30, 2017 and December 31, 2016, the carrying value and fair value of our total debt, including current maturities, were as follows:



		September 30, 2017				December 31, 2016
		Carrying Value (a)		Fair Value		Carrying Value (a)		Fair Value
	(Millions)

Total debt		$	5,235	$	5,365	$	5,430	$	5,395

(a) Excludes unamortized issuance costs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Debt

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Debt



	September 30, 2017			December 31, 2016
	(Millions)
Senior notes:
Issued November 2012, interest at 2.500% payable semi-annually, due December 2017	$	500		$	500
Issued February 2009, interest at 9.750% payable semiannually, due March 2019 (a)	450			450
Issued March 2014, interest at 2.700% payable semi-annually, due April 2019	325			325
Issued March 2010, interest at 5.350% payable semiannually, due March 2020 (a)	600			600
Issued September 2011, interest at 4.750% payable semiannually, due September 2021	500			500
Issued March 2012, interest at 4.950% payable semi-annually, due April 2022	350			350
Issued March 2013, interest at 3.875% payable semi-annually, due March 2023	500			500
Issued August 2000, interest at 8.125% payable semi-annually, due August 2030 (a)	300			300
Issued October 2006, interest at 6.450% payable semi-annually, due November 2036	300			300
Issued September 2007, interest at 6.750% payable semi-annually, due September 2037	450			450
Issued March 2014, interest at 5.600% payable semi-annually, due April 2044	400			400
Junior subordinated notes:
Issued May 2013, interest at 5.850% payable semi-annually, due May 2043	550			550
Credit facility with financial institutions:
Revolving credit facility, weighted-average variable interest rate of 2.010%, as of December 31, 2016, due May 2019	—			195
Fair value adjustments related to interest rate swap fair value hedges (a)	23			24
Unamortized issuance costs	(24		)	(23		)
Unamortized discount	(13		)	(14		)
Total debt	5,211			5,407
Current maturities of long-term debt	500			500
Total long-term debt	$	4,711		$	4,907

(a) The swaps associated with this debt were previously terminated. The remaining long-term fair value of approximately

$23 million related to the swaps is being amortized as a reduction to interest expense through 2019, 2020 and 2030, the original maturity dates of the debt.

Credit Facility with Financial Institutions

In February 2017, we further amended our $1.25 billion senior unsecured revolving credit agreement that matures on May 1, 2019, or the Credit Agreement, to increase the aggregate commitments under the unsecured revolving credit facility to approximately $1.4 billion. The Credit Agreement is used for working capital requirements and other general partnership purposes including acquisitions.

The Credit Agreement allows for unrestricted cash and cash equivalents to be netted against consolidated indebtedness for purposes of calculating the Partnership’s Consolidated Leverage Ratio (as defined in the Credit Agreement). Additionally, under the Credit Agreement, the maximum Consolidated Leverage Ratio of the Partnership as of the end of any fiscal quarter shall not exceed: (a) 5.75 to 1.0 for the quarters ending March 31, 2017 through December 31, 2017, (b) 5.50 to 1.0 for the quarter ending March 31, 2018, (c) 5.25 to 1.0 for the quarter ending June 30, 2018, and (d) 5.00 to 1.0 for the quarters thereafter; provided that, if there is a Qualified Acquisition (as defined in the Credit Agreement) during any fiscal quarter ending June 30, 2018 or thereafter, the maximum Consolidated Leverage Ratio shall not exceed 5.50 to 1.0 at the end of such quarter and at the end of the two fiscal quarters immediately thereafter.

Our cost of borrowing under the Credit Agreement is determined by a ratings-based pricing grid. Indebtedness under the Credit Agreement bears interest at either: (1) LIBOR, plus an applicable margin of 1.45% based on our current credit rating; or (2) (a) the base rate which shall be the higher of the prime rate, the Federal Funds rate plus 0.50% or the LIBOR Market Index rate plus 1%, plus (b) an applicable margin of 0.45% based on our current credit rating. The Credit Agreement incurs an annual facility fee of 0.3% based on our current credit rating. This fee is paid on drawn and undrawn portions of the approximately $1.4 billion revolving credit facility.

As of September 30, 2017, we had unused borrowing capacity of $1,373 million, net of $25 million of letters of credit, under the Credit Agreement. Our borrowing capacity may be limited by financial covenants set forth in the Credit Agreement. The financial covenants set forth in the Credit Agreement limit the Partnership's ability to incur incremental debt by $1,373 million as of September 30, 2017. Except in the case of a default, amounts borrowed under our Credit Agreement will not become due prior to the May 1, 2019 maturity date.

Senior Notes and Junior Subordinated Notes

Our senior notes and junior subordinated notes, collectively referred to as our debt securities, mature and become payable on their respective due dates, and are not subject to any sinking fund or mandatory redemption provisions. The senior notes are senior unsecured obligations that are guaranteed by the Partnership and rank equally in a right of payment with our other senior unsecured indebtedness, including indebtedness under our Credit Agreement, and the junior subordinated notes are unsecured and rank subordinate in right of payment to all of our existing and future senior indebtedness. The debt securities include an optional redemption whereby we may elect to redeem the notes, in whole or in part from time-to-time for a premium. Additionally, we may defer the payment of all or part of the interest on the junior subordinated notes for one or more periods up to five consecutive years. The underwriters’ fees and related expenses are recorded in our condensed consolidated balance sheets within the carrying amount of long-term debt and will be amortized over the term of the notes.

The maturities of our long-term debt are as follows:



	Debt Maturities
	(Millions)
2018	$	—
2019	775
2020	600
2021	500
2022	350
Thereafter	2,500
Total long-term debt	$	4,725

Risk Management and Hedging Activities

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Risk Management and Hedging Activities

Our operations expose us to a variety of risks including but not limited to changes in the prices of commodities that we buy or sell, changes in interest rates, and the creditworthiness of each of our counterparties. We manage certain of these exposures with either physical or financial transactions. We have established a comprehensive risk management policy and a risk management committee, or the Risk Management Committee, to monitor and manage market risks associated with commodity prices and counterparty credit. The Risk Management Committee is composed of senior executives who receive regular briefings on positions and exposures, credit exposures and overall risk management in the context of market activities. The Risk Management Committee is responsible for the overall management of credit risk and commodity price risk, including monitoring exposure limits. The following describes each of the risks that we manage.

Commodity Price Risk

Our portfolio of commodity derivative activity is primarily accounted for using the mark-to-market method of accounting; however, depending upon our risk profile and objectives, in certain limited cases, we may execute transactions that qualify for the hedge method of accounting. The risks, strategies and instruments used to mitigate such risks, as well as the method of accounting are discussed and summarized below.

Natural Gas Asset Based Trading and Marketing

Our natural gas storage and pipeline assets are exposed to certain risks including changes in commodity prices. We manage commodity price risk related to our natural gas storage and pipeline assets through our commodity derivative program. The commercial activities related to our natural gas storage and pipeline assets primarily consist of the purchase and sale of gas and associated time spreads and basis spreads.

A time spread transaction is executed by establishing a long gas position at one point in time and establishing an equal short gas position at a different point in time. Time spread transactions allow us to lock in a margin supported by the injection, withdrawal, and storage capacity of our natural gas storage assets. We may execute basis spread transactions to mitigate the risk of sale and purchase price differentials across our system. A basis spread transaction allows us to lock in a margin on our physical purchases and sales of gas, including injections and withdrawals from storage. We typically use swaps to execute these transactions, which are not designated as hedging instruments and are recorded at fair value with changes in fair value recorded in the current period condensed consolidated statements of operations. While gas held in our storage locations is recorded at the lower of average cost or market, the derivative instruments that are used to manage our storage facilities are recorded at fair value and any changes in fair value are currently recorded in our condensed consolidated statements of operations. Even though we may have economically hedged our exposure and locked in a future margin, the use of lower-of-cost-or-market accounting for our physical inventory and the use of mark-to-market accounting for our derivative instruments may subject our earnings to market volatility.

Commodity Cash Flow Hedges

In order for our natural gas storage facility to remain operational, a minimum level of base gas must be maintained in each storage cavern, which is capitalized on our condensed consolidated balance sheets as a component of property, plant and equipment, net. During construction or expansion of our storage caverns, we may execute a series of derivative financial instruments to mitigate a portion of the risk associated with the forecasted purchase of natural gas when we bring the storage caverns into operation. These derivative financial instruments may be designated as cash flow hedges. While the cash paid upon settlement of these hedges economically fixes the cash required to purchase base gas, the deferred losses or gains would remain in accumulated other comprehensive income, or AOCI, until the cavern is emptied and the base gas is sold. The balance in AOCI of our previously settled base gas cash flow hedges was in a loss position of $6 million as of September 30, 2017.

Commodity Cash Flow Protection Activities

We are exposed to the impact of market fluctuations in the prices of natural gas, NGLs and condensate as a result of our gathering, processing, sales and storage activities. For gathering, processing and storage services, we may receive cash or commodities as payment for these services, depending on the contract type. We may enter into derivative financial instruments to mitigate a portion of the risk of weakening natural gas, NGL and condensate prices associated with our gathering, processing and sales activities, thereby stabilizing our cash flows. Our derivative financial instruments used to mitigate a portion of the risk of weakening natural gas, NGL and condensate prices extend through the first quarter of 2019. The commodity derivative instruments used for our hedging programs are a combination of direct NGL product, crude oil and natural gas hedges. Due to the limited liquidity and tenor of the NGL derivative market, we may use crude oil swaps to mitigate a portion of the commodity price risk exposure for NGLs. Historically, prices of NGLs have generally been related to crude oil prices; however, there are periods of time when NGL pricing may be at a greater discount to crude oil, resulting in additional exposure to NGL commodity prices. The relationship of NGLs to crude oil continues to be lower than historical relationships. When our crude oil swaps become short-term in nature, certain crude oil derivatives may be converted to NGL derivatives by entering into offsetting crude oil swaps while adding NGL swaps. Crude oil and NGL transactions are primarily accomplished through the use of forward contracts that effectively exchange floating price risk for a fixed price. The type of instrument used to mitigate a portion of the risk may vary depending on our risk management objectives. These transactions are not designated as hedging instruments for accounting purposes and the change in fair value is reflected in the current period within our condensed consolidated statements of operations as trading and marketing gains and (losses), net.

NGL Proprietary Trading

Our NGL proprietary trading activity includes trading energy related products and services. We undertake these activities through the use of fixed forward sales and purchases, basis and spread trades, storage opportunities, put/call options, term contracts and spot market trading. These energy trading operations are exposed to market variables and commodity price risk with respect to these products and services, and these operations may enter into physical contracts and financial instruments with the objective of realizing a positive margin from the purchase and sale of commodity-based instruments. These physical and financial instruments are not designated as hedging instruments and are recorded at fair value with changes in fair value recorded in the current period condensed consolidated statements of operations.

We employ established risk limits, policies and procedures to manage risks associated with our natural gas asset based trading and marketing and NGL proprietary trading.

Interest Rate Risk

We enter into debt arrangements that have either fixed or floating rates, therefore we are exposed to market risks related to changes in interest rates. We periodically use interest rate swaps to convert our floating rate debt to fixed-rate debt or to convert our fixed-rate debt to floating rate debt. Our primary goals include: (1) maintaining an appropriate ratio of fixed-rate debt to floating-rate debt; (2) reducing volatility of earnings resulting from interest rate fluctuations; and (3) locking in attractive interest rates.

We previously had interest rate cash flow hedges and fair value hedges in place that were terminated. As the underlying transactions impact earnings, the remaining net loss deferred in AOCI relative to these cash flow hedges will be reclassified to interest expense, net from 2022 through 2030 and the remaining net loss included in long-term debt relative to these fair value hedges will be reclassified to interest expense, net from 2019 through 2030, the original maturity dates of the debt.

Credit Risk

Our principal customers range from large, natural gas marketers to industrial end-users for our natural gas products and services, as well as large multi-national petrochemical and refining companies, to small regional propane distributors for our NGL products and services. Substantially all of our natural gas and NGL sales are made at market-based prices. Approximately 22% of our NGL production was committed to Phillips 66 and CPChem as of September 30, 2017. This concentration of credit risk may affect our overall credit risk, in that these customers may be similarly affected by changes in economic, regulatory or other factors. Where exposed to credit risk, we analyze the counterparties’ financial condition prior to entering into an agreement, establish credit limits and monitor the appropriateness of these limits on an ongoing basis. We may use various master agreements that include language giving us the right to request collateral to mitigate credit exposure. The collateral language provides for a counterparty to post cash or letters of credit for exposure in excess of the established threshold. The threshold amount represents an open credit limit, determined in accordance with our credit policy. The collateral language also provides that the inability to post collateral is sufficient cause to terminate a contract and liquidate all positions. In addition, our master agreements and our standard gas and NGL sales contracts contain adequate assurance provisions, which allow us to suspend deliveries and cancel agreements, or continue deliveries to the buyer after the buyer provides security for payment in a satisfactory form.

Contingent Credit Features

Each of the above risks is managed through the execution of individual contracts with a variety of counterparties. Certain of our derivative contracts may contain credit-risk related contingent provisions that may require us to take certain actions in certain circumstances.

We have International Swaps and Derivatives Association, or ISDA, contracts which are standardized master legal arrangements that establish key terms and conditions which govern certain derivative transactions. These ISDA contracts contain standard credit-risk related contingent provisions. Some of the provisions we are subject to are outlined below.


•	If we were to have an effective event of default under our Credit Agreement that occurs and is continuing, our ISDA counterparties may have the right to request early termination and net settlement of any outstanding derivative liability positions.


•	Our ISDA counterparties generally have collateral thresholds of zero, requiring us to fully collateralize any commodity contracts in a net liability position, when our credit rating is below investment grade.

•

Additionally, in some cases, our ISDA contracts contain cross-default provisions that could constitute a credit-risk related contingent feature. These provisions apply if we default in making timely payments under other credit arrangements and the amount of the default is above certain predefined thresholds, which are significantly high and are generally consistent with the terms of our Credit Agreement. As of September 30, 2017, we were not a party to any agreements that would trigger the cross-default provisions.

Our commodity derivative contracts that are not governed by ISDA contracts do not have any credit-risk related contingent features. Depending upon the movement of commodity prices and interest rates, each of our individual contracts with counterparties to our commodity derivative instruments or interest rate swap instruments are in either a net asset or net liability position. As of September 30, 2017, we had less than $1 million of individual commodity derivative contracts that contain credit-risk related contingent features that were in a net liability position. If we were required to net settle our position with an individual counterparty, due to a credit-risk related event, our ISDA contracts may permit us to net all outstanding contracts with that counterparty, whether in a net asset or net liability position, as well as any cash collateral already posted. As of September 30, 2017, we have not been required to post additional collateral. Although our commodity derivative contracts that contain credit-risk related contingent features were in a net liability position as of September 30, 2017, the net liability position would be offset by contracts in a net asset position.

Collateral

As of September 30, 2017, we had cash deposits of $42 million, included in collateral cash deposits in our condensed consolidated balance sheets, and letters of credit of $13 million with counterparties to secure our obligations to provide future services or to perform under financial contracts. Additionally, as of September 30, 2017, we held cash of $19 million, included in other current liabilities in our condensed consolidated balance sheet, related to cash postings by third parties and letters of credit of $36 million from counterparties to secure their future performance under financial or physical contracts. Collateral amounts held or posted may be fixed or may vary, depending on the value of the underlying contracts, and could cover normal purchases and sales, services, trading and hedging contracts. In many cases, we and our counterparties have publicly disclosed credit ratings, which may impact the amounts of collateral requirements.

Physical forward contracts and financial derivatives are generally cash settled at the expiration of the contract term. These transactions are generally subject to specific credit provisions within the contracts that would allow the seller, at its discretion, to suspend deliveries, cancel agreements or continue deliveries to the buyer after the buyer provides security for payment satisfactory to the seller.

Offsetting

Certain of our derivative instruments are subject to a master netting or similar arrangement, whereby we may elect to settle multiple positions with an individual counterparty through a single net payment. Each of our individual derivative instruments are presented on a gross basis on the condensed consolidated balance sheets, regardless of our ability to net settle our positions. Instruments that are governed by agreements that include net settle provisions allow final settlement, when presented with a termination event, of outstanding amounts by extinguishing the mutual debts owed between the parties in exchange for a net amount due. We have trade receivables and payables associated with derivative instruments, subject to master netting or similar agreements, which are not included in the table below. The following summarizes the gross and net amounts of our derivative instruments:



	September 30, 2017								December 31, 2016
	Gross Amounts of Assets and (Liabilities) Presented in the Balance Sheet			Amounts Not Offset in the Balance Sheet - Financial Instruments		Net Amount			Gross Amounts of Assets and (Liabilities) Presented in the Balance Sheet			Amounts Not Offset in the Balance Sheet - Financial Instruments		Net Amount
	(Millions)
Assets:
Commodity derivatives	$	36		$	—	$	36		$	47		$	—	$	47
Liabilities:
Commodity derivatives	$	(52	)	$	—	$	(52	)	$	(92	)	$	—	$	(92	)

Summarized Derivative Information

The fair value of our derivative instruments that are marked-to-market each period, as well as the location of each within our condensed consolidated balance sheets, by major category, is summarized below. We have no derivative instruments that are designated as hedging instruments for accounting purposes as of September 30, 2017 and December 31, 2016.



Balance Sheet Line Item	September 30, 2017		December 31, 2016		Balance Sheet Line Item	September 30, 2017			December 31, 2016
	(Millions)					(Millions)
Derivative Assets Not Designated as Hedging Instruments:					Derivative Liabilities Not Designated as Hedging Instruments:
Commodity derivatives:					Commodity derivatives:
Unrealized gains on derivative instruments — current	$	32	$	42	Unrealized losses on derivative instruments — current	$	(42	)	$	(91	)
Unrealized gains on derivative instruments — long-term	4		5		Unrealized losses on derivative instruments — long-term	(10		)	(1		)
Total	$	36	$	47	Total	$	(52	)	$	(92	)

The following summarizes the balance and activity within AOCI relative to our interest rate, commodity and foreign currency cash flow hedges as of and for the three months ended September 30, 2017:



	Interest Rate Cash Flow Hedges			Commodity Cash Flow Hedges			Foreign Currency Cash Flow Hedges (a)		Total
	(Millions)
Net deferred (losses) gains in AOCI (beginning balance)	$	(4	)	$	(6	)	$	1	$	(9	)
Net deferred (losses) gains in AOCI (ending balance)	$	(4	)	$	(6	)	$	1	$	(9	)
Deferred losses in AOCI expected to be reclassified into earnings over the next 12 months	$	(1	)	$	—		$	—	$	(1	)

The following summarizes the balance and activity within AOCI relative to our interest rate, commodity and foreign currency cash flow hedges as of and for the nine months ended September 30, 2017:



	Interest Rate Cash Flow Hedges			Commodity Cash Flow Hedges			Foreign Currency Cash Flow Hedges (a)		Total
	(Millions)
Net deferred (losses) gains in AOCI (beginning balance)	$	(3	)	$	(6	)	$	1	$	(8	)
Losses reclassified from AOCI to earnings — effective portion	1			—			—		1
Deficit purchase price under carrying value of the Transaction	$	(2	)	$	—		$	—	$	(2	)
Net deferred (losses) gains in AOCI (ending balance)	$	(4	)	$	(6	)	$	1	$	(9	)


(a)	Relates to Discovery, an unconsolidated affiliate.

For the three and nine months ended September 30, 2017, no derivative losses attributable to the ineffective portion or to amounts excluded from effectiveness testing were recognized in trading and marketing gains, net or interest expense in our condensed consolidated statements of operations. For the three and nine months ended September 30, 2017, no derivative losses were reclassified from AOCI to trading and marketing gains, net or interest expense as a result of the discontinuance of cash flow hedges related to certain forecasted transactions that are not probable of occurring.

The following summarizes the balance and activity within AOCI relative to our interest rate, commodity and foreign currency cash flow hedges as of and for the three months ended September 30, 2016:



	Interest Rate Cash Flow Hedges			Commodity Cash Flow Hedges			Foreign Currency Cash Flow Hedges (a)		Total
	(Millions)
Net deferred (losses) gains in AOCI (beginning balance)	$	(3	)	$	(6	)	$	1	$	(8	)
Net deferred (losses) gains in AOCI (ending balance)	$	(3	)	$	(6	)	$	1	$	(8	)

The following summarizes the balance and activity within AOCI relative to our interest rate, commodity and foreign currency cash flow hedges as of and for the nine months ended September 30, 2016:



	Interest Rate Cash Flow Hedges			Commodity Cash Flow Hedges			Foreign Currency Cash Flow Hedges (a)		Total
	(Millions)
Net deferred (losses) gains in AOCI (beginning balance)	$	(3	)	$	(6	)	$	1	$	(8	)
Net deferred (losses) gains in AOCI (ending balance)	$	(3	)	$	(6	)	$	1	$	(8	)


(a)	Relates to Discovery, an unconsolidated affiliate.

For the three and nine months ended September 30, 2016, no derivative losses attributable to the ineffective portion or to amounts excluded from effectiveness testing were recognized in trading and marketing gains or losses, net or interest expense in our condensed consolidated statements of operations. For the three and nine months ended September 30, 2016, no derivative losses were reclassified from AOCI to trading and marketing gains or losses, net or interest expense as a result of the discontinuance of cash flow hedges related to certain forecasted transactions that are not probable of occurring.

Changes in the value of derivative instruments, for which the hedge method of accounting has not been elected from one period to the next, are recorded in the condensed consolidated statements of operations. The following summarizes these amounts and the location within the condensed consolidated statements of operations that such amounts are reflected:



Commodity Derivatives: Statements of Operations Line Item		Three Months Ended September 30,					Nine Months Ended September 30,
		2017			2016		2017		2016
	(Millions)
Realized gains		$	16		$	6	$	9	$	90
Unrealized (losses) gains		(59		)	9		1		(80		)
Trading and marketing (losses) gains, net		$	(43	)	$	15	$	10	$	10

We do not have any derivative financial instruments that qualify as a hedge of a net investment.

The following tables represent, by commodity type, our net long or short positions that are expected to partially or entirely settle in each respective year. To the extent that we have long dated derivative positions that span multiple calendar years, the contract will appear in more than one line item in the tables below.



	September 30, 2017
	Crude Oil		Natural Gas		Natural Gas Liquids		Natural Gas Basis Swaps
Year of Expiration	Net Short Position (Bbls)		Net Short Position (MMBtu)		Net (Short) Long Position (Bbls)		Net Long Position (MMBtu)
2017	(81,000	)	(20,888,000	)	(9,288,558	)	2,680,000
2018	(1,803,000	)	(29,277,400	)	(13,417,484	)	9,190,000
2019	(367,000	)	—		(2,353,300	)	9,317,500
2020	(50,000	)	—		238,548		3,660,000

	September 30, 2016
	Crude Oil		Natural Gas		Natural Gas Liquids		Natural Gas Basis Swaps
Year of Expiration	Net Short Position (Bbls)		Net Short Position (MMBtu)		Net (Short) Long Position (Bbls)		Net (Short) Long Position (MMBtu)
2016	(380,000	)	(5,915,500	)	(10,018,903	)	(512,500	)
2017	(964,000	)	(27,686,850	)	(7,725,057	)	6,515,000
2018	—		—		150,216		—
2019	(40,000	)	—		(1,984	)	—
2020	(50,000	)	—		240,000		—

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

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+ Details

Partnership Equity and Distributions

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Partnership Equity and Distributions

As part of the Transaction, Phillips 66 and Enbridge agreed, if required, to provide a reduction to incentive distributions payable to our General Partner under our Partnership Agreement of up to $100 million annually through 2019 to target an approximate 1.0 times distribution coverage ratio. Under the terms of our amended partnership agreement, the amount of incentive distributions paid to our General Partner will be evaluated by our General Partner on both a quarterly and annual basis and may be reduced each quarter by an amount determined by our General Partner (the “IDR giveback”). If no determination is made by our General Partner, the quarterly IDR giveback will be $20 million. The IDR giveback, of up to $100 million annually, will be subject to a true-up at the end of the year by taking our total distributable cash flow (as adjusted under our amended partnership agreement) less the total annual distribution payable to our unitholders, adjusted to target an approximate 1.0 times coverage ratio. Distributions paid to the holders of the Partnership's incentive distribution rights were reduced by $20 million and $40 million during the three and nine month periods ended September 30, 2017, respectively, in accordance with the Third Amendment to the Partnership Agreement.

In January 2017, we issued 28,552,480 common units to DCP Midstream, LLC and 2,550,644 general partner units to the General Partner in a private placement as consideration for the Transaction that closed on January 1, 2017. For additional information regarding the Transaction, see Note 3 - Acquisitions.

During the nine months ended September 30, 2017 and 2016, we issued no common units pursuant to our 2014 equity distribution agreement.

The following table presents our cash distributions paid in 2017 and 2016:



Payment Date	Per Unit Distribution		Total Cash Distribution
			(Millions)
August 14, 2017	$	0.7800	$	134
May 15, 2017	0.7800		135
February 14, 2017	0.7800		121
November 14, 2016	0.7800		120
August 12, 2016	0.7800		121
May 13, 2016	0.7800		121
February 12, 2016	0.7800		121

Net Income or Loss per Limited Partner Unit	9 Months Ended
Net Income or Loss per Limited Partner Unit	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Income or Loss per Limited Partner Unit	Net Income or Loss per Limited Partner Unit Basic and diluted net income or loss per limited partner unit (or "LPU") is calculated by dividing net income or loss allocable to limited partners, by the weighted-average number of outstanding LPUs during the period. Diluted net income or loss per LPU is computed based on the weighted average number of units plus the effect of dilutive potential units outstanding during the period using the two-class method.

Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Litigation — We are not a party to any significant legal proceedings, but are a party to various administrative and regulatory proceedings and commercial disputes that have arisen 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 results of operations, financial position, or cash flow.

Insurance — Our insurance coverage is carried with third-party insurers and with an affiliate of Phillips 66. Our insurance coverage includes: (1) general liability insurance covering third-party exposures; (2) statutory workers’ compensation insurance; (3) automobile liability insurance for all owned, non-owned and hired vehicles; (4) excess liability insurance above the established primary limits for general liability and automobile liability insurance; (5) property insurance, which covers the replacement value of real and personal property and includes business interruption; and (6) insurance covering our directors and officers for acts related to our business activities. All coverage is subject to certain limits and deductibles, the terms and conditions of which are common for companies with similar types of operations.

Environmental — The operation of pipelines, plants and other facilities for gathering, transporting, processing, treating, fractionating, or storing natural gas, NGLs and other products 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 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 management and disposal, and other environmental matters. The cost of planning, designing, constructing and operating pipelines, plants, and other facilities incorporates compliance with environmental laws and regulations, worker safety standards, and safety standards applicable to our various facilities. In addition, there is increasing focus (i) from 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 our available supply of natural gas and the resulting supply of NGLs, (ii) from federal regulatory agencies regarding pipeline system safety which could impose additional regulatory burdens and increase the cost of our operations, and (iii) from state and federal regulatory officials regarding the emission of greenhouse gases which could impose regulatory burdens and increase the cost of our operations. Failure to comply with these 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 results of operations, financial position or cash flows.

Business Segments

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Business Segments

Concurrent with the completion of the Transaction in the first quarter of 2017, management reevaluated our reportable segments and determined that our operations are organized into two reportable segments: (i) Gathering and Processing and (ii) Logistics and Marketing. Segment information for prior periods has been retrospectively adjusted to furnish comparative information similar to the pooling method to reflect these reportable segments. These segments are monitored separately by management for performance against our internal forecast and are consistent with internal financial reporting. These segments have been identified based on the differing products and services, regulatory environment and the expertise required for these operations. Our Gathering and Processing reportable segment includes operating segments that have been aggregated based on the nature of the products and services provided. Gross margin is a performance measure utilized by management to monitor the operations of each segment. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies included as Exhibit 99.4 in the May 2017 8-K.

Our Gathering and Processing segment consists of gathering, compressing, treating, processing natural gas, producing and fractionating NGLs, and recovering and selling condensate. Our Logistics and Marketing segment includes transporting, trading, marketing, and storing natural gas and NGLs, fractionating NGLs, and wholesale propane logistics. The remainder of our business operations is presented as “Other,” and consists of unallocated corporate costs. Elimination of inter-segment transactions are reflected in the eliminations column. The following tables set forth our segment information:

Three Months Ended September 30, 2017:



	Gathering and Processing			Logistics and Marketing			Other			Eliminations			Total
	(Millions)
Total operating revenue	$	1,337		$	1,913		$	—		$	(1,195	)	$	2,055
Gross margin (a)	$	303		$	57		$	—		$	—		$	360
Operating and maintenance expense	(154		)	(9		)	(5		)	—			(168		)
Depreciation and amortization expense	(85		)	(4		)	(5		)	—			(94		)
General and administrative expense	(2		)	(3		)	(64		)	—			(69		)
Asset impairments	(48		)	—			—			—			(48		)
Other (expense) income	—			(1		)	1			—			—
Earnings from unconsolidated affiliates	15			59			—			—			74
Interest expense	—			—			(73		)	—			(73		)
Income tax expense	—			—			(2		)	—			(2		)
Net income (loss)	$	29		$	99		$	(148	)	$	—		$	(20	)
Net income attributable to noncontrolling interests	—			—			—			—			—
Net income (loss) attributable to partners	$	29		$	99		$	(148	)	$	—		$	(20	)
Non-cash derivative mark-to-market (b)	$	(51	)	$	(8	)	$	—		$	—		$	(59	)
Capital expenditures	$	91		$	1		$	7		$	—		$	99
Investments in unconsolidated affiliates, net	$	1		$	28		$	—		$	—		$	29

Three Months Ended September 30, 2016:



	Gathering and Processing			Logistics and Marketing			Other			Eliminations			Total
	(Millions)
Total operating revenue	$	1,217		$	1,641		$	—		$	(1,035	)	$	1,823
Gross margin (a)	$	335		$	51		$	—		$	—		$	386
Operating and maintenance expense	(146		)	(13		)	(2		)	—			(161		)
Depreciation and amortization expense	(85		)	(4		)	(5		)	—			(94		)
General and administrative expense	(2		)	(2		)	(60		)	—			(64		)
Other expense	(13		)	—			(1		)	—			(14		)
Gain on sale of assets, net	25			16			—			—			41
Restructuring costs	—			—			(2		)	—			(2		)
Earnings from unconsolidated affiliates	20			55			—			—			75
Interest expense	—			—			(77		)	—			(77		)
Income tax expense	—			—			(1		)	—			(1		)
Net income (loss)	$	134		$	103		$	(148	)	$	—		$	89
Net income attributable to noncontrolling interests	—			—			—			—			—
Net income (loss) attributable to partners	$	134		$	103		$	(148	)	$	—		$	89
Non-cash derivative mark-to-market (b)	$	(5	)	$	14		$	—		$	—		$	9
Capital expenditures	$	18		$	4		$	8		$	—		$	30
Investments in unconsolidated affiliates, net	$	—		$	11		$	—		$	—		$	11

Nine Months Ended September 30, 2017:



	Gathering and Processing			Logistics and Marketing			Other			Eliminations			Total
	(Millions)
Total operating revenue	$	3,965		$	5,596		$	—		$	(3,436	)	$	6,125
Gross margin (a)	$	1,021		$	165		$	—		$	—		$	1,186
Operating and maintenance expense	(469		)	(31		)	(13		)	—			(513		)
Depreciation and amortization expense	(256		)	(11		)	(15		)	—			(282		)
General and administrative expense	(15		)	(8		)	(179		)	—			(202		)
Asset impairments	(48		)	—			—			—			(48		)
Other expense	(3		)	(12		)	—			—			(15		)
Gain on sale of assets, net	34			—			—			—			34
Earnings from unconsolidated affiliates	59			175			—			—			234
Interest expense	—			—			(219		)	—			(219		)
Income tax expense	—			—			(5		)	—			(5		)
Net income (loss)	$	323		$	278		$	(431	)	$	—		$	170
Net income attributable to noncontrolling interests	(1		)	—			—			—			(1		)
Net income (loss) attributable to partners	$	322		$	278		$	(431	)	$	—		$	169
Non-cash derivative mark-to-market (b)	$	(4	)	$	5		$	—		$	—		$	1
Capital expenditures	$	237		$	2		$	19		$	—		$	258
Investments in unconsolidated affiliates, net	$	1		$	69		$	—		$	—		$	70

Nine Months Ended September 30, 2016:



	Gathering and Processing			Logistics and Marketing			Other			Eliminations			Total
	(Millions)
Total operating revenue	$	3,190		$	4,362		$	—		$	(2,642	)	$	4,910
Gross margin (a)	$	892		$	152		$	—		$	—		$	1,044
Operating and maintenance expense	(458		)	(33		)	(15		)	—			(506		)
Depreciation and amortization expense	(258		)	(12		)	(14		)	—			(284		)
General and administrative expense	(10		)	(7		)	(170		)	—			(187		)
Other income (expense)	74			(5		)	(1		)	—			68
Gain on sale of assets, net	19			16			—			—			35
Restructuring costs	—			—			(10		)	—			(10		)
Earnings from unconsolidated affiliates	52			162			—			—			214
Interest expense	—			—			(235		)	—			(235		)
Income tax expense	—			—			(6		)	—			(6		)
Net income (loss)	$	311		$	273		$	(451	)	$	—		$	133
Net income attributable to noncontrolling interests	(1		)	—			—			—			(1		)
Net income (loss) attributable to partners	$	310		$	273		$	(451	)	$	—		$	132
Non-cash derivative mark-to-market (b)	$	(73	)	$	(7	)	$	—		$	—		$	(80	)
Non-cash lower of cost or market adjustments	$	—		$	3		$	—		$	—		$	3
Capital expenditures	$	90		$	7		$	16		$	—		$	113
Investments in unconsolidated affiliates, net	$	—		$	38		$	—		$	—		$	38

(a)

Gross margin consists of total operating revenues, including trading and marketing gains and losses, less purchases of natural gas and NGLs. Gross margin is viewed as a non-GAAP financial measure under the rules of the SEC, but is included as a supplemental disclosure because it is a primary performance measure used by management as it represents the results of product sales versus product purchases. As an indicator of our operating performance, gross margin should not be considered an alternative to, or more meaningful than, net income or cash flow as determined in accordance with GAAP. Our gross margin may not be comparable to a similarly titled measure of another company because other entities may not calculate gross margin in the same manner.


(b)	Non-cash commodity derivative mark-to-market is included in gross margin, along with cash settlements for our commodity derivative contracts.



	September 30,		December 31,
	2017		2016
	(Millions)
Segment long-term assets:
Gathering and Processing	$	8,884	$	9,053
Logistics and Marketing	3,293		3,278
Other (a)	283		286
Total long-term assets	12,460		12,617
Current assets	1,311		994
Total assets	$	13,771	$	13,611


(a)	Other long-term assets not allocable to segments consist of corporate leasehold improvements and other long-term assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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+ Details

Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2017

Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information



	Nine Months Ended September 30,
	2017			2016
	(Millions)
Cash paid for interest:
Cash paid for interest, net of amounts capitalized	$	218		$	248
Cash paid for income taxes, net of income tax refunds	$	2		$	2
Non-cash investing and financing activities:
Property, plant and equipment acquired with accounts payable and accrued liabilities	$	27		$	15
Other non-cash changes in property, plant and equipment	$	(1	)	$	1
Issuance of common and general partner units	$	1,125		$	—
Deficit purchase price in the Transaction	$	3,094		$	—

Condensed Consolidating Financial Information

9 Months Ended

Sep. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Financial Information

The following condensed consolidating financial information presents the results of operations, financial position and cash flows of DCP Midstream, LP, or parent guarantor, DCP Midstream Operating LP, or subsidiary issuer, which is a 100% owned subsidiary, and non-guarantor subsidiaries, as well as the consolidating adjustments necessary to present DCP Midstream, LP’s results on a consolidated basis. The parent guarantor has agreed to fully and unconditionally guarantee debt securities of the subsidiary issuer. For the purpose of the following financial information, investments in subsidiaries are reflected in accordance with the equity method of accounting. The financial information may not necessarily be indicative of results of operations, cash flows, or financial position had the subsidiaries operated as independent entities.



	Condensed Consolidating Balance Sheet
	September 30, 2017
	Parent Guarantor		Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	310		$	2		$	—		$	312
Accounts receivable, net	—		—			846			—			846
Inventories	—		—			62			—			62
Other	—		—			91			—			91
Total current assets	—		310			1,001			—			1,311
Property, plant and equipment, net	—		—			8,926			—			8,926
Goodwill and intangible assets, net	—		—			340			—			340
Advances receivable — consolidated subsidiaries	2,563		2,031			—			(4,594		)	—
Investments in consolidated subsidiaries	4,453		7,392			—			(11,845		)	—
Investments in unconsolidated affiliates	—		—			3,002			—			3,002
Other long-term assets	—		—			192			—			192
Total assets	$	7,016	$	9,733		$	13,461		$	(16,439	)	$	13,771
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	$	—	$	69		$	1,215		$	—		$	1,284
Current maturities of long-term debt	—		500			—			—			500
Advances payable — consolidated subsidiaries	—		—			4,594			(4,594		)	—
Long-term debt	—		4,711			—			—			4,711
Other long-term liabilities	—		—			233			—			233
Total liabilities	—		5,280			6,042			(4,594		)	6,728
Commitments and contingent liabilities
Equity:
Partners’ equity:
Net equity	7,016		4,457			7,397			(11,845		)	7,025
Accumulated other comprehensive loss	—		(4		)	(5		)	—			(9		)
Total partners’ equity	7,016		4,453			7,392			(11,845		)	7,016
Noncontrolling interests	—		—			27			—			27
Total equity	7,016		4,453			7,419			(11,845		)	7,043
Total liabilities and equity	$	7,016	$	9,733		$	13,461		$	(16,439	)	$	13,771



	Condensed Consolidating Balance Sheet
	December 31, 2016
	Parent Guarantor		Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—		$	1		$	—		$	1
Accounts receivable, net	—		—			792			—			792
Inventories	—		—			72			—			72
Other	—		—			129			—			129
Total current assets	—		—			994			—			994
Property, plant and equipment, net	—		—			9,069			—			9,069
Goodwill and intangible assets, net	—		—			373			—			373
Advances receivable — consolidated subsidiaries	2,953		2,760			—			(5,713		)	—
Investments in consolidated subsidiaries	3,868		6,587			—			(10,455		)	—
Investments in unconsolidated affiliates	—		—			2,969			—			2,969
Other long-term assets	—		—			206			—			206
Total assets	$	6,821	$	9,347		$	13,611		$	(16,168	)	$	13,611
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	$	—	$	72		$	1,051		$	—		$	1,123
Current maturities of long-term debt	—		500			—			—			500
Advances payable — consolidated subsidiaries	—		—			5,713			(5,713		)	—
Long-term debt	—		4,907			—			—			4,907
Other long-term liabilities	—		—			228			—			228
Total liabilities	—		5,479			6,992			(5,713		)	6,758
Commitments and contingent liabilities
Equity:
Partners’ equity:
Net equity	6,821		3,871			6,592			(10,455		)	6,829
Accumulated other comprehensive loss	—		(3		)	(5		)	—			(8		)
Total partners’ equity	6,821		3,868			6,587			(10,455		)	6,821
Noncontrolling interests	—		—			32			—			32
Total equity	6,821		3,868			6,619			(10,455		)	6,853
Total liabilities and equity	$	6,821	$	9,347		$	13,611		$	(16,168	)	$	13,611



	Condensed Consolidating Statement of Operations
	Three Months Ended September 30, 2017
	Parent Guarantor			Subsidiary Issuer			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Operating revenues:
Sales of natural gas, NGLs and condensate	$	—		$	—		$	1,936		$	—		$	1,936
Transportation, processing and other	—			—			162			—			162
Trading and marketing losses, net	—			—			(43		)	—			(43		)
Total operating revenues	—			—			2,055			—			2,055
Operating costs and expenses:
Purchases of natural gas and NGLs	—			—			1,695			—			1,695
Operating and maintenance expense	—			—			168			—			168
Depreciation and amortization expense	—			—			94			—			94
General and administrative expense	—			—			69			—			69
Asset impairments	—			—			48			—			48
Total operating costs and expenses	—			—			2,074			—			2,074
Operating loss	—			—			(19		)	—			(19		)
Interest expense	—			(73		)	—			—			(73		)
(Loss) income from consolidated subsidiaries	(20		)	53			—			(33		)	—
Earnings from unconsolidated affiliates	—			—			74			—			74
(Loss) income before income taxes	(20		)	(20		)	55			(33		)	(18		)
Income tax expense	—			—			(2		)	—			(2		)
Net (loss) income	(20		)	(20		)	53			(33		)	(20		)
Net income attributable to noncontrolling interests	—			—			—			—			—
Net (loss) income attributable to partners	$	(20	)	$	(20	)	$	53		$	(33	)	$	(20	)



	Condensed Consolidating Statement of Comprehensive (Loss) Income
	Three Months Ended September 30, 2017
	Parent Guarantor			Subsidiary Issuer			Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
	(Millions)
Net (loss) income	$	(20	)	$	(20	)	$	53	$	(33	)	$	(20	)
Total other comprehensive income	—			—			—		—			—
Total comprehensive (loss) income	(20		)	(20		)	53		(33		)	(20		)
Total comprehensive income attributable to noncontrolling interests	—			—			—		—			—
Total comprehensive (loss) income attributable to partners	$	(20	)	$	(20	)	$	53	$	(33	)	$	(20	)



	Condensed Consolidating Statement of Operations
	Three Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Operating revenues:
Sales of natural gas, NGLs and condensate	$	—	$	—		$	1,646		$	—		$	1,646
Transportation, processing and other	—		—			162			—			162
Trading and marketing gains, net	—		—			15			—			15
Total operating revenues	—		—			1,823			—			1,823
Operating costs and expenses:
Purchases of natural gas and NGLs	—		—			1,437			—			1,437
Operating and maintenance expense	—		—			161			—			161
Depreciation and amortization expense	—		—			94			—			94
General and administrative expense	—		—			64			—			64
Gain on sale of assets, net	—		—			(41		)	—			(41		)
Restructuring costs	—		—			2			—			2
Other expense, net	—		—			14			—			14
Total operating costs and expenses	—		—			1,731			—			1,731
Operating income	—		—			92			—			92
Interest expense, net	—		(77		)	—			—			(77		)
Income from consolidated subsidiaries	89		166			—			(255		)	—
Earnings from unconsolidated affiliates	—		—			75			—			75
Income before income taxes	89		89			167			(255		)	90
Income tax expense	—		—			(1		)	—			(1		)
Net income	89		89			166			(255		)	89
Net income attributable to noncontrolling interests	—		—			—			—			—
Net income attributable to partners	$	89	$	89		$	166		$	(255	)	$	89



	Condensed Consolidating Statement of Comprehensive Income
	Three Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
	(Millions)
Net income	$	89	$	89	$	166	$	(255	)	$	89
Total other comprehensive income	—		—		—		—			—
Total comprehensive income	89		89		166		(255		)	89
Total comprehensive income attributable to noncontrolling interests	—		—		—		—			—
Total comprehensive income attributable to partners	$	89	$	89	$	166	$	(255	)	$	89



	Condensed Consolidating Statement of Operations
	Nine Months Ended September 30, 2017
	Parent Guarantor		Subsidiary Issuer			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Operating revenues:
Sales of natural gas, NGLs and condensate	$	—	$	—		$	5,641		$	—		$	5,641
Transportation, processing and other	—		—			474			—			474
Trading and marketing gains, net	—		—			10			—			10
Total operating revenues	—		—			6,125			—			6,125
Operating costs and expenses:
Purchases of natural gas and NGLs	—		—			4,939			—			4,939
Operating and maintenance expense	—		—			513			—			513
Depreciation and amortization expense	—		—			282			—			282
General and administrative expense	—		—			202			—			202
Asset impairments	—		—			48			—			48
Gain on sale of assets, net	—		—			(34		)	—			(34		)
Other expense, net	—		—			15			—			15
Total operating costs and expenses	—		—			5,965			—			5,965
Operating income	—		—			160			—			160
Interest expense, net	—		(219		)	—			—			(219		)
Income from consolidated subsidiaries	169		388			—			(557		)	—
Earnings from unconsolidated affiliates	—		—			234			—			234
Income before income taxes	169		169			394			(557		)	175
Income tax expense	—		—			(5		)	—			(5		)
Net income	169		169			389			(557		)	170
Net income attributable to noncontrolling interests	—		—			(1		)	—			(1		)
Net income attributable to partners	$	169	$	169		$	388		$	(557	)	$	169



	Condensed Consolidating Statement of Comprehensive Income
	Nine Months Ended September 30, 2017
	Parent Guarantor		Subsidiary Issuer		Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Net income	$	169	$	169	$	389		$	(557	)	$	170
Other comprehensive income:
Reclassification of cash flow hedge losses into earnings	—		1		—			—			1
Other comprehensive income from consolidated subsidiaries	1		—		—			(1		)	—
Total other comprehensive income	1		1		—			(1		)	1
Total comprehensive income	170		170		389			(558		)	171
Total comprehensive income attributable to noncontrolling interests	—		—		(1		)	—			(1		)
Total comprehensive income attributable to partners	$	170	$	170	$	388		$	(558	)	$	170



	Condensed Consolidating Statement of Operations
	Nine Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Operating revenues:
Sales of natural gas, NGLs and condensate	$	—	$	—		$	4,431		$	—		$	4,431
Transportation, processing and other	—		—			469			—			469
Trading and marketing gains, net	—		—			10			—			10
Total operating revenues	—		—			4,910			—			4,910
Operating costs and expenses:
Purchases of natural gas and NGLs	—		—			3,866			—			3,866
Operating and maintenance expense	—		—			506			—			506
Depreciation and amortization expense	—		—			284			—			284
General and administrative expense	—		—			187			—			187
Gain on sale of assets, net	—		—			(35		)	—			(35		)
Restructuring costs	—		—			10			—			10
Other income, net	—		—			(68		)	—			(68		)
Total operating costs and expenses	—		—			4,750			—			4,750
Operating income	—		—			160			—			160
Interest expense, net	—		(235		)	—			—			(235		)
Income from consolidated subsidiaries	132		367			—			(499		)	—
Earnings from unconsolidated affiliates	—		—			214			—			214
Income before income taxes	132		132			374			(499		)	139
Income tax expense	—		—			(6		)	—			(6		)
Net income	132		132			368			(499		)	133
Net income attributable to noncontrolling interests	—		—			(1		)	—			(1		)
Net income attributable to partners	$	132	$	132		$	367		$	(499	)	$	132



	Condensed Consolidating Statement of Comprehensive Income
	Nine Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer		Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Net income	$	132	$	132	$	368		$	(499	)	$	133
Total other comprehensive income	—		—		—			—			—
Total comprehensive income	132		132		368			(499		)	133
Total comprehensive income attributable to noncontrolling interests	—		—		(1		)	—			(1		)
Total comprehensive income attributable to partners	$	132	$	132	$	367		$	(499	)	$	132



	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 30, 2017
	Parent Guarantor			Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	—		$	(217	)	$	901		$	—		$	684
INVESTING ACTIVITIES:
Intercompany transfers	390			724			—			(1,114		)	—
Capital expenditures	—			—			(258		)	—			(258		)
Investments in unconsolidated affiliates	—			—			(70		)	—			(70		)
Proceeds from sale of assets	—			—			130			—			130
Net cash provided by (used in) investing activities	390			724			(198		)	(1,114		)	(198		)
FINANCING ACTIVITIES:
Intercompany transfers	—			—			(1,114		)	1,114			—
Payments of long-term debt	—			(195		)	—			—			(195		)
Net change in advances to predecessor from DCP Midstream, LLC	—			—			418			—			418
Distributions to limited partners and general partner	(390		)	—			—			—			(390		)
Distributions to noncontrolling interests	—			—			(6		)	—			(6		)
Other	—			(2		)	—			—			(2		)
Net cash used in by financing activities	(390		)	(197		)	(702		)	1,114			(175		)
Net change in cash and cash equivalents	—			310			1			—			311
Cash and cash equivalents, beginning of period	—			—			1			—			1
Cash and cash equivalents, end of period	$	—		$	310		$	2		$	—		$	312



	Condensed Consolidating Statements of Cash Flows
	Nine Months Ended September 30, 2016
	Parent Guarantor			Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	—		$	(244	)	$	765		$	—		$	521
INVESTING ACTIVITIES:
Intercompany transfers	362			559			—			(921		)	—
Capital expenditures	—			—			(113		)	—			(113		)
Investments in unconsolidated affiliates	—			—			(38		)	—			(38		)
Proceeds from sale of assets	—			—			160			—			160
Net cash provided by investing activities	362			559			9			(921		)	9
FINANCING ACTIVITIES:
Intercompany transfers	—			—			(921		)	921			—
Proceeds from long-term debt	—			2,926			—			—			2,926
Payments of long-term debt	—			(3,216		)	—			—			(3,216		)
Net change in advances to predecessor from DCP Midstream, LLC	—			—			150			—			150
Distributions to limited partners and general partner	(362		)	—			—			—			(362		)
Distributions to noncontrolling interests	—			—			(6		)	—			(6		)
Other	—			(10		)	—			—			(10		)
Net cash used in financing activities	(362		)	(300		)	(777		)	921			(518		)
Net change in cash and cash equivalents	—			15			(3		)	—			12
Cash and cash equivalents, beginning of period	—			—			3			—			3
Cash and cash equivalents, end of period	$	—		$	15		$	—		$	—		$	15

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

Description of Business and Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Derivatives, Policy [Policy Text Block]

Commodity Price Risk

Natural Gas Asset Based Trading and Marketing

Commodity Cash Flow Hedges

Commodity Cash Flow Protection Activities

NGL Proprietary Trading

We employ established risk limits, policies and procedures to manage risks associated with our natural gas asset based trading and marketing and NGL proprietary trading.

Interest Rate Risk

Credit Risk

Contingent Credit Features


•	If we were to have an effective event of default under our Credit Agreement that occurs and is continuing, our ISDA counterparties may have the right to request early termination and net settlement of any outstanding derivative liability positions.


•	Our ISDA counterparties generally have collateral thresholds of zero, requiring us to fully collateralize any commodity contracts in a net liability position, when our credit rating is below investment grade.

•

Collateral

Offsetting

Consolidation

All intercompany balances and transactions have been eliminated in consolidation.

The condensed consolidated financial statements include the accounts of the Partnership and all majority-owned subsidiaries where we have the ability to exercise control.

Equity Method Investments

Investments in greater than 20% owned affiliates that are not variable interest entities and where we do not have the ability to exercise control, and investments in less than 20% owned affiliates where we have the ability to exercise significant influence, are accounted for using the equity method.

Use of Estimates

The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. Conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and notes. Although these estimates are based on management’s best available knowledge of current and expected future events, actual results could differ from those estimates.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements in this Quarterly Report on Form 10-Q have been prepared pursuant to the rules and regulations of the SEC. Accordingly, these condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the respective interim periods. Certain information and note disclosures normally included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted from these interim financial statements pursuant to such rules and regulations, although we believe that the disclosures made are adequate to make the information presented not misleading. Results of operations for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. These unaudited condensed consolidated financial statements and other information included in this Quarterly Report on Form 10-Q should be read in conjunction with the 2016 audited consolidated financial statements and notes thereto included as Exhibit 99.4 in the May 2017 8-K.

New Accounting Pronouncements

Financial Accounting Standards Board, or FASB, Accounting Standards Update, or ASU, 2016-15 “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” or ASU 2016-15 - In August 2016, the FASB issued ASU 2016-15, which amends certain cash flow statement classification guidance. We intend to adopt this ASU for interim and annual reporting periods beginning after December 15, 2017. The adoption of this ASU will have no impact on our condensed consolidated cash flows.

FASB ASU, 2016-02 “Leases (Topic 842),” or ASU 2016-02 - In February 2016, the FASB issued ASU 2016-02, which requires lessees to recognize a lease liability on a discounted basis and the right of use of a specified asset at the commencement date for all leases. This ASU is effective for interim and annual reporting periods beginning after December 15, 2018, with the option to early adopt for financial statements that have not been issued. We are currently evaluating the potential impact this standard will have on our condensed consolidated financial statements and related disclosures.

FASB ASU 2014-09 “Revenue from Contracts with Customers (Topic 606),” or ASU 2014-09 and related interpretations and amendments - In May 2014, the FASB issued ASU 2014-09, which supersedes the revenue recognition requirements of Accounting Standards Codification Topic 605 “Revenue Recognition.” This ASU is effective for annual reporting periods beginning after December 15, 2017, with the option to adopt as early as annual reporting periods beginning after December 15, 2016. We plan to adopt this ASU using the modified retrospective method. The initial cumulative effect will be recognized at the date of adoption. Our evaluation of ASU 2014-09 is ongoing and not complete. The FASB has issued and may issue in the future, interpretative guidance, which may cause our evaluation to change. Accordingly, at this time we cannot estimate the impact upon adoption.

Fair Value Measurements

Determination of Fair Value

•

Valuation Hierarchy


•	Level 1 — inputs are unadjusted quoted prices for identical assets or liabilities in active markets.


•	Level 2 — inputs include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.


•	Level 3 — inputs are unobservable and considered significant to the fair value measurement.

Commodity Derivative Assets and Liabilities

Interest Rate Derivative Assets and Liabilities

Nonfinancial Assets and Liabilities

Earnings Per Unit

Basic and diluted net income or loss per limited partner unit (or "LPU") is calculated by dividing net income or loss allocable to limited partners, by the weighted-average number of outstanding LPUs during the period. Diluted net income or loss per LPU is computed based on the weighted average number of units plus the effect of dilutive potential units outstanding during the period using the two-class method.

- Definition

Disclosure of accounting policy for the equity method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. The accounting policy may include information such as: (1) initially recording an investment in the stock of an investee at cost; (2) adjusting the carrying amount of the investment to recognize the investor's share of the earnings or losses of the investee after the date of acquisition; and (3) adjustments to reflect the investor's share of changes in the investee's capital (dividends). This disclosure may also include a detailed description of the policy for determining the amount of equity method losses recognized after an investment has been reduced to zero as a result of previous losses, reasons for not using the equity method when the investor company owns 20 percent or more of the voting stock of the investee's company (including identification of the significant investee), reasons for using the equity method when the ownership percentage is less than 20 percent, and discussion of recognition of equity method losses when an investor's total investment in an investee includes, in addition to an investment in common stock, other investments such as preferred stock and loans to the investee. An entity also may describe how such investments are assessed for impairment.

+ References + Details

Agreements and Transactions with Affiliates (Tables)

9 Months Ended

Sep. 30, 2017

Summary of Transactions with Affiliates

The following table summarizes our transactions with affiliates:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(Millions)
Phillips 66 (including its affiliates):
Sales of natural gas, NGLs and condensate to affiliates	$	289	$	237	$	814	$	633
Purchases of natural gas and NGLs from affiliates	$	7	$	6	$	22	$	12
Operating and maintenance and general administrative expenses	$	—	$	1	$	1	$	1
Enbridge (including its affiliates):
Sales of natural gas, NGLs and condensate to affiliates	$	14	$	—	$	34	$	—
Purchases of natural gas and NGLs from affiliates	$	12	$	7	$	31	$	25
Operating and maintenance and general administrative expenses	$	1	$	1	$	2	$	3
Unconsolidated affiliates:
Sales of natural gas, NGLs and condensate to affiliates	$	15	$	12	$	37	$	29
Transportation, storage and processing to affiliates	$	1	$	—	$	4	$	3
Purchases of natural gas and NGLs from affiliates	$	126	$	113	$	358	$	319

We had balances with affiliates as follows:



	September 30, 2017		December 31, 2016
	(Millions)
Phillips 66 (including its affiliates):
Accounts receivable	$	113	$	115
Accounts payable	$	4	$	4
Other assets	$	1	$	2
Enbridge (including its affiliates):
Accounts receivable	$	7	$	1
Accounts payable	$	7	$	3
Other assets	$	—	$	1
Other liabilities	$	—	$	1
Unconsolidated affiliates:
Accounts receivable	$	18	$	18
Accounts payable	$	46	$	41
Other assets	$	3	$	5



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(Millions)
Employee related costs charged by DCP Midstream, LLC
Operating and maintenance expense	$	50	$	51	$	149	$	158
General and administrative expense (including restructuring charges)	$	46	$	47	$	116	$	142

Inventories (Tables)

9 Months Ended

Sep. 30, 2017

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories were as follows:



	September 30, 2017		December 31, 2016
	(Millions)
Natural gas	$	32	$	28
NGLs	30		44
Total inventories	$	62	$	72

Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Classification of Property, Plant and Equipment

A summary of property, plant and equipment by classification is as follows:



	Depreciable Life	September 30, 2017			December 31, 2016
		(Millions)
Gathering and transmission systems	20 — 50 Years	$	8,447		$	8,560
Processing, storage and terminal facilities	35 — 60 Years	5,107			5,134
Other	3 — 30 Years	539			502
Construction work in progress		288			171
Property, plant and equipment		14,381			14,367
Accumulated depreciation		(5,455		)	(5,298		)
Property, plant and equipment, net		$	8,926		$	9,069

Investments in Unconsolidated Affiliates (Tables)

9 Months Ended

Sep. 30, 2017

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Affiliates

The following table summarizes our investments in unconsolidated affiliates:



		Carrying Value as of
	Percentage Ownership	September 30, 2017		December 31, 2016
		(Millions)
DCP Sand Hills Pipeline, LLC	66.67%	$	1,563	$	1,507
Discovery Producer Services LLC	40.00%	376		385
DCP Southern Hills Pipeline, LLC	66.67%	741		754
Front Range Pipeline LLC	33.33%	165		165
Texas Express Pipeline LLC	10.00%	90		93
Panola Pipeline Company, LLC	15.00%	24		25
Mont Belvieu Enterprise Fractionator	12.50%	24		23
Mont Belvieu 1 Fractionator	20.00%	13		10
Other	Various	6		7
Total investments in unconsolidated affiliates		$	3,002	$	2,969

Earnings from investments in unconsolidated affiliates were as follows:



	Three Months Ended September 30,					Nine Months Ended September 30,
	2017			2016		2017		2016
	(Millions)
DCP Sand Hills Pipeline, LLC	$	37		$	28	$	105	$	84
Discovery Producer Services LLC	14			20		59		52
DCP Southern Hills Pipeline, LLC	10			13		34		37
Front Range Pipeline LLC	5			5		12		14
Texas Express Pipeline LLC	4			2		7		6
Mont Belvieu Enterprise Fractionator	3			4		10		12
Mont Belvieu 1 Fractionator	2			2		6		7
Other	(1		)	1		1		2
Total earnings from unconsolidated affiliates	$	74		$	75	$	234	$	214

The following tables summarize the combined financial information of our investments in unconsolidated affiliates:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(Millions)
Statements of operations:
Operating revenue	$	358	$	335	$	1,063	$	971
Operating expenses	$	164	$	136	$	464	$	390
Net income	$	194	$	199	$	598	$	576



	September 30, 2017			December 31, 2016
	(Millions)
Balance sheets:
Current assets	$	242		$	232
Long-term assets	5,253			5,274
Current liabilities	(165		)	(156		)
Long-term liabilities	(200		)	(205		)
Net assets	$	5,130		$	5,145

Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurements, Nonrecurring [Table Text Block]



	Net Carrying Value		Fair Value Measurements Using						Asset Impairments
	Net Carrying Value		Level 1		Level 2		Level 3		Asset Impairments
	(millions)
Three and Nine Months Ended September 30, 2017
Property, plant and equipment	$	14	$	—	$	—	$	14	$	26
Intangible assets	11		—		—		11		21
Investment in unconsolidated affiliates	1		—		—		1		1
Total non-recurring assets at fair value	$	26	$	—	$	—	$	26	$	48

Financial Instruments Carried at Fair Value



	September 30, 2017												December 31, 2016
	Level 1			Level 2			Level 3			Total Carrying Value			Level 1			Level 2			Level 3			Total Carrying Value
	(Millions)
Current assets:
Commodity derivatives (a)	$	9		$	21		$	2		$	32		$	5		$	28		$	9		$	42
Short-term investments (b)	$	310		$	—		$	—		$	310		$	—		$	—		$	—		$	—
Long-term assets:
Commodity derivatives (c)	$	1		$	2		$	1		$	4		$	—		$	—		$	5		$	5
Current liabilities:
Commodity derivatives (d)	$	(6	)	$	(28	)	$	(8	)	$	(42	)	$	(11	)	$	(57	)	$	(23	)	$	(91	)
Long-term liabilities:
Commodity derivatives (e)	$	(2	)	$	(6	)	$	(2	)	$	(10	)	$	(1	)	$	—		$	—		$	(1	)


(a)	Included in current unrealized gains on derivative instruments in our condensed consolidated balance sheets.


(b)	Includes short-term money market securities included in cash and cash equivalents in our condensed consolidated balance sheets.


(c)	Included in long-term unrealized gains on derivative instruments in our condensed consolidated balance sheets.


(d)	Included in current unrealized losses on derivative instruments in our condensed consolidated balance sheets.


(e)	Included in long-term unrealized losses on derivative instruments in our condensed consolidated balance sheets.

Fair Value Assets and Liabilities Measured On Recurring Basis Unobservable Input Reconciliation



	Commodity Derivative Instruments
	Current Assets			Long-Term Assets			Current Liabilities			Long-Term Liabilities
	(Millions)
Three months ended September 30, 2017 (a):
Beginning balance	$	7		$	2		$	(2	)	$	(3	)
Net unrealized gains (losses) included in earnings (b)	—			2			(26		)	—
Transfers out of Level 3 (c)	—			—			2			—
Settlements	—			—			2			—
CME Rule 814 adjustment	(5		)	(3		)	16			1
Ending balance	$	2		$	1		$	(8	)	$	(2	)
Net unrealized gains (losses) on derivatives still held included in earnings (b)	$	3		$	2		$	(22	)	$	—
Three months ended September 30, 2016 (a):
Beginning balance	$	5		$	2		$	(8	)	$	(2	)
Net unrealized gains included in earnings (b)	2			—			—			1
Transfers out of Level 3 (c)	(2		)	—			2			—
Settlements	(1		)	—			1			—
Ending balance	$	4		$	2		$	(5	)	$	(1	)
Net unrealized gains on derivatives still held included in earnings (b)	$	1		$	—		$	—		$	1



	Commodity Derivative Instruments
	Current Assets			Long-Term Assets			Current Liabilities			Long-Term Liabilities
	(Millions)
Nine months ended September 30, 2017 (a):
Beginning balance	$	9		$	5		$	(23	)	$	—
Net unrealized gains (losses) included in earnings (b)	4			(1		)	(20		)	(3		)
Transfers out of Level 3 (c)	(4		)	—			12			—
Settlements	(2		)	—			7			—
CME Rule 814 adjustment	(5		)	(3		)	16			1
Ending balance	$	2		$	1		$	(8	)	$	(2	)
Net unrealized gains (losses) on derivatives still held included in earnings (b)	$	7		$	(1	)	$	(21	)	$	(2	)
Nine months ended September 30, 2016 (a):
Beginning balance	$	35		$	4		$	(23	)	$	(6	)
Net unrealized (losses) gains included in earnings (b)	(3		)	(2		)	12			5
Transfers out of Level 3 (c)	(2		)	—			3			—
Settlements	(26		)	—			3			—
Ending balance	$	4		$	2		$	(5	)	$	(1	)
Net unrealized gains (losses) on derivatives still held included in earnings (b)	$	2		$	1		$	(4	)	$	5


(a)	There were no purchases, issuances or sales of derivatives or transfers into Level 3 for the three and nine months ended September 30, 2017 and 2016.


(b)	Represents the amount of unrealized gains or losses for the period, included in trading and marketing gains (losses), net.


(c)	Amounts transferred out of Level 3 are reflected at fair value at the end of the period.

Schedule of Valuation Processes



	September 30, 2017
Product Group	Fair Value			Forward Curve Range
	(Millions)
Assets
NGLs	$	3		$0.28-$1.22	Per gallon
Liabilities
NGLs	$	(10	)	$0.21-$1.22	Per gallon

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

As of September 30, 2017 and December 31, 2016, the carrying value and fair value of our total debt, including current maturities, were as follows:



		September 30, 2017				December 31, 2016
		Carrying Value (a)		Fair Value		Carrying Value (a)		Fair Value
	(Millions)

Total debt		$	5,235	$	5,365	$	5,430	$	5,395

(a) Excludes unamortized issuance costs.

Debt (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of Debt



	September 30, 2017			December 31, 2016
	(Millions)
Senior notes:
Issued November 2012, interest at 2.500% payable semi-annually, due December 2017	$	500		$	500
Issued February 2009, interest at 9.750% payable semiannually, due March 2019 (a)	450			450
Issued March 2014, interest at 2.700% payable semi-annually, due April 2019	325			325
Issued March 2010, interest at 5.350% payable semiannually, due March 2020 (a)	600			600
Issued September 2011, interest at 4.750% payable semiannually, due September 2021	500			500
Issued March 2012, interest at 4.950% payable semi-annually, due April 2022	350			350
Issued March 2013, interest at 3.875% payable semi-annually, due March 2023	500			500
Issued August 2000, interest at 8.125% payable semi-annually, due August 2030 (a)	300			300
Issued October 2006, interest at 6.450% payable semi-annually, due November 2036	300			300
Issued September 2007, interest at 6.750% payable semi-annually, due September 2037	450			450
Issued March 2014, interest at 5.600% payable semi-annually, due April 2044	400			400
Junior subordinated notes:
Issued May 2013, interest at 5.850% payable semi-annually, due May 2043	550			550
Credit facility with financial institutions:
Revolving credit facility, weighted-average variable interest rate of 2.010%, as of December 31, 2016, due May 2019	—			195
Fair value adjustments related to interest rate swap fair value hedges (a)	23			24
Unamortized issuance costs	(24		)	(23		)
Unamortized discount	(13		)	(14		)
Total debt	5,211			5,407
Current maturities of long-term debt	500			500
Total long-term debt	$	4,711		$	4,907

(a) The swaps associated with this debt were previously terminated. The remaining long-term fair value of approximately

$23 million related to the swaps is being amortized as a reduction to interest expense through 2019, 2020 and 2030, the original maturity dates of the debt.

Future Maturities of Long-Term Debt

The maturities of our long-term debt are as follows:



	Debt Maturities
	(Millions)
2018	$	—
2019	775
2020	600
2021	500
2022	350
Thereafter	2,500
Total long-term debt	$	4,725

Risk Management and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Offsetting Assets

The following summarizes the gross and net amounts of our derivative instruments:



	September 30, 2017								December 31, 2016
	Gross Amounts of Assets and (Liabilities) Presented in the Balance Sheet			Amounts Not Offset in the Balance Sheet - Financial Instruments		Net Amount			Gross Amounts of Assets and (Liabilities) Presented in the Balance Sheet			Amounts Not Offset in the Balance Sheet - Financial Instruments		Net Amount
	(Millions)
Assets:
Commodity derivatives	$	36		$	—	$	36		$	47		$	—	$	47
Liabilities:
Commodity derivatives	$	(52	)	$	—	$	(52	)	$	(92	)	$	—	$	(92	)

Schedule of Offsetting Liabilities

The following summarizes the gross and net amounts of our derivative instruments:



	September 30, 2017								December 31, 2016
	Gross Amounts of Assets and (Liabilities) Presented in the Balance Sheet			Amounts Not Offset in the Balance Sheet - Financial Instruments		Net Amount			Gross Amounts of Assets and (Liabilities) Presented in the Balance Sheet			Amounts Not Offset in the Balance Sheet - Financial Instruments		Net Amount
	(Millions)
Assets:
Commodity derivatives	$	36		$	—	$	36		$	47		$	—	$	47
Liabilities:
Commodity derivatives	$	(52	)	$	—	$	(52	)	$	(92	)	$	—	$	(92	)

Schedule of Designated and Non-Designated Derivative Instruments in Statement of Financial Position, Fair Value



Balance Sheet Line Item	September 30, 2017		December 31, 2016		Balance Sheet Line Item	September 30, 2017			December 31, 2016
	(Millions)					(Millions)
Derivative Assets Not Designated as Hedging Instruments:					Derivative Liabilities Not Designated as Hedging Instruments:
Commodity derivatives:					Commodity derivatives:
Unrealized gains on derivative instruments — current	$	32	$	42	Unrealized losses on derivative instruments — current	$	(42	)	$	(91	)
Unrealized gains on derivative instruments — long-term	4		5		Unrealized losses on derivative instruments — long-term	(10		)	(1		)
Total	$	36	$	47	Total	$	(52	)	$	(92	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following summarizes the balance and activity within AOCI relative to our interest rate, commodity and foreign currency cash flow hedges as of and for the three months ended September 30, 2016:



	Interest Rate Cash Flow Hedges			Commodity Cash Flow Hedges			Foreign Currency Cash Flow Hedges (a)		Total
	(Millions)
Net deferred (losses) gains in AOCI (beginning balance)	$	(3	)	$	(6	)	$	1	$	(8	)
Net deferred (losses) gains in AOCI (ending balance)	$	(3	)	$	(6	)	$	1	$	(8	)

The following summarizes the balance and activity within AOCI relative to our interest rate, commodity and foreign currency cash flow hedges as of and for the nine months ended September 30, 2016:



	Interest Rate Cash Flow Hedges			Commodity Cash Flow Hedges			Foreign Currency Cash Flow Hedges (a)		Total
	(Millions)
Net deferred (losses) gains in AOCI (beginning balance)	$	(3	)	$	(6	)	$	1	$	(8	)
Net deferred (losses) gains in AOCI (ending balance)	$	(3	)	$	(6	)	$	1	$	(8	)


(a)	Relates to Discovery, an unconsolidated affiliate.

The following summarizes the balance and activity within AOCI relative to our interest rate, commodity and foreign currency cash flow hedges as of and for the three months ended September 30, 2017:



	Interest Rate Cash Flow Hedges			Commodity Cash Flow Hedges			Foreign Currency Cash Flow Hedges (a)		Total
	(Millions)
Net deferred (losses) gains in AOCI (beginning balance)	$	(4	)	$	(6	)	$	1	$	(9	)
Net deferred (losses) gains in AOCI (ending balance)	$	(4	)	$	(6	)	$	1	$	(9	)
Deferred losses in AOCI expected to be reclassified into earnings over the next 12 months	$	(1	)	$	—		$	—	$	(1	)

The following summarizes the balance and activity within AOCI relative to our interest rate, commodity and foreign currency cash flow hedges as of and for the nine months ended September 30, 2017:



	Interest Rate Cash Flow Hedges			Commodity Cash Flow Hedges			Foreign Currency Cash Flow Hedges (a)		Total
	(Millions)
Net deferred (losses) gains in AOCI (beginning balance)	$	(3	)	$	(6	)	$	1	$	(8	)
Losses reclassified from AOCI to earnings — effective portion	1			—			—		1
Deficit purchase price under carrying value of the Transaction	$	(2	)	$	—		$	—	$	(2	)
Net deferred (losses) gains in AOCI (ending balance)	$	(4	)	$	(6	)	$	1	$	(9	)


(a)	Relates to Discovery, an unconsolidated affiliate.

Schedule of Changes in Derivative Instruments Not Designated as Hedging Instruments

The following summarizes these amounts and the location within the condensed consolidated statements of operations that such amounts are reflected:



Commodity Derivatives: Statements of Operations Line Item		Three Months Ended September 30,					Nine Months Ended September 30,
		2017			2016		2017		2016
	(Millions)
Realized gains		$	16		$	6	$	9	$	90
Unrealized (losses) gains		(59		)	9		1		(80		)
Trading and marketing (losses) gains, net		$	(43	)	$	15	$	10	$	10

Schedule of Net Long or Short Positions Expected to be Realized



	September 30, 2017
	Crude Oil		Natural Gas		Natural Gas Liquids		Natural Gas Basis Swaps
Year of Expiration	Net Short Position (Bbls)		Net Short Position (MMBtu)		Net (Short) Long Position (Bbls)		Net Long Position (MMBtu)
2017	(81,000	)	(20,888,000	)	(9,288,558	)	2,680,000
2018	(1,803,000	)	(29,277,400	)	(13,417,484	)	9,190,000
2019	(367,000	)	—		(2,353,300	)	9,317,500
2020	(50,000	)	—		238,548		3,660,000

	September 30, 2016
	Crude Oil		Natural Gas		Natural Gas Liquids		Natural Gas Basis Swaps
Year of Expiration	Net Short Position (Bbls)		Net Short Position (MMBtu)		Net (Short) Long Position (Bbls)		Net (Short) Long Position (MMBtu)
2016	(380,000	)	(5,915,500	)	(10,018,903	)	(512,500	)
2017	(964,000	)	(27,686,850	)	(7,725,057	)	6,515,000
2018	—		—		150,216		—
2019	(40,000	)	—		(1,984	)	—
2020	(50,000	)	—		240,000		—

Partnership Equity and Distributions (Tables)

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Cash Distribution

The following table presents our cash distributions paid in 2017 and 2016:



Payment Date	Per Unit Distribution		Total Cash Distribution
			(Millions)
August 14, 2017	$	0.7800	$	134
May 15, 2017	0.7800		135
February 14, 2017	0.7800		121
November 14, 2016	0.7800		120
August 12, 2016	0.7800		121
May 13, 2016	0.7800		121
February 12, 2016	0.7800		121

Business Segments (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Segment Information

The following tables set forth our segment information:

Three Months Ended September 30, 2017:



	Gathering and Processing			Logistics and Marketing			Other			Eliminations			Total
	(Millions)
Total operating revenue	$	1,337		$	1,913		$	—		$	(1,195	)	$	2,055
Gross margin (a)	$	303		$	57		$	—		$	—		$	360
Operating and maintenance expense	(154		)	(9		)	(5		)	—			(168		)
Depreciation and amortization expense	(85		)	(4		)	(5		)	—			(94		)
General and administrative expense	(2		)	(3		)	(64		)	—			(69		)
Asset impairments	(48		)	—			—			—			(48		)
Other (expense) income	—			(1		)	1			—			—
Earnings from unconsolidated affiliates	15			59			—			—			74
Interest expense	—			—			(73		)	—			(73		)
Income tax expense	—			—			(2		)	—			(2		)
Net income (loss)	$	29		$	99		$	(148	)	$	—		$	(20	)
Net income attributable to noncontrolling interests	—			—			—			—			—
Net income (loss) attributable to partners	$	29		$	99		$	(148	)	$	—		$	(20	)
Non-cash derivative mark-to-market (b)	$	(51	)	$	(8	)	$	—		$	—		$	(59	)
Capital expenditures	$	91		$	1		$	7		$	—		$	99
Investments in unconsolidated affiliates, net	$	1		$	28		$	—		$	—		$	29

Three Months Ended September 30, 2016:



	Gathering and Processing			Logistics and Marketing			Other			Eliminations			Total
	(Millions)
Total operating revenue	$	1,217		$	1,641		$	—		$	(1,035	)	$	1,823
Gross margin (a)	$	335		$	51		$	—		$	—		$	386
Operating and maintenance expense	(146		)	(13		)	(2		)	—			(161		)
Depreciation and amortization expense	(85		)	(4		)	(5		)	—			(94		)
General and administrative expense	(2		)	(2		)	(60		)	—			(64		)
Other expense	(13		)	—			(1		)	—			(14		)
Gain on sale of assets, net	25			16			—			—			41
Restructuring costs	—			—			(2		)	—			(2		)
Earnings from unconsolidated affiliates	20			55			—			—			75
Interest expense	—			—			(77		)	—			(77		)
Income tax expense	—			—			(1		)	—			(1		)
Net income (loss)	$	134		$	103		$	(148	)	$	—		$	89
Net income attributable to noncontrolling interests	—			—			—			—			—
Net income (loss) attributable to partners	$	134		$	103		$	(148	)	$	—		$	89
Non-cash derivative mark-to-market (b)	$	(5	)	$	14		$	—		$	—		$	9
Capital expenditures	$	18		$	4		$	8		$	—		$	30
Investments in unconsolidated affiliates, net	$	—		$	11		$	—		$	—		$	11

Nine Months Ended September 30, 2017:



	Gathering and Processing			Logistics and Marketing			Other			Eliminations			Total
	(Millions)
Total operating revenue	$	3,965		$	5,596		$	—		$	(3,436	)	$	6,125
Gross margin (a)	$	1,021		$	165		$	—		$	—		$	1,186
Operating and maintenance expense	(469		)	(31		)	(13		)	—			(513		)
Depreciation and amortization expense	(256		)	(11		)	(15		)	—			(282		)
General and administrative expense	(15		)	(8		)	(179		)	—			(202		)
Asset impairments	(48		)	—			—			—			(48		)
Other expense	(3		)	(12		)	—			—			(15		)
Gain on sale of assets, net	34			—			—			—			34
Earnings from unconsolidated affiliates	59			175			—			—			234
Interest expense	—			—			(219		)	—			(219		)
Income tax expense	—			—			(5		)	—			(5		)
Net income (loss)	$	323		$	278		$	(431	)	$	—		$	170
Net income attributable to noncontrolling interests	(1		)	—			—			—			(1		)
Net income (loss) attributable to partners	$	322		$	278		$	(431	)	$	—		$	169
Non-cash derivative mark-to-market (b)	$	(4	)	$	5		$	—		$	—		$	1
Capital expenditures	$	237		$	2		$	19		$	—		$	258
Investments in unconsolidated affiliates, net	$	1		$	69		$	—		$	—		$	70

Nine Months Ended September 30, 2016:



	Gathering and Processing			Logistics and Marketing			Other			Eliminations			Total
	(Millions)
Total operating revenue	$	3,190		$	4,362		$	—		$	(2,642	)	$	4,910
Gross margin (a)	$	892		$	152		$	—		$	—		$	1,044
Operating and maintenance expense	(458		)	(33		)	(15		)	—			(506		)
Depreciation and amortization expense	(258		)	(12		)	(14		)	—			(284		)
General and administrative expense	(10		)	(7		)	(170		)	—			(187		)
Other income (expense)	74			(5		)	(1		)	—			68
Gain on sale of assets, net	19			16			—			—			35
Restructuring costs	—			—			(10		)	—			(10		)
Earnings from unconsolidated affiliates	52			162			—			—			214
Interest expense	—			—			(235		)	—			(235		)
Income tax expense	—			—			(6		)	—			(6		)
Net income (loss)	$	311		$	273		$	(451	)	$	—		$	133
Net income attributable to noncontrolling interests	(1		)	—			—			—			(1		)
Net income (loss) attributable to partners	$	310		$	273		$	(451	)	$	—		$	132
Non-cash derivative mark-to-market (b)	$	(73	)	$	(7	)	$	—		$	—		$	(80	)
Non-cash lower of cost or market adjustments	$	—		$	3		$	—		$	—		$	3
Capital expenditures	$	90		$	7		$	16		$	—		$	113
Investments in unconsolidated affiliates, net	$	—		$	38		$	—		$	—		$	38

(a)


(b)	Non-cash commodity derivative mark-to-market is included in gross margin, along with cash settlements for our commodity derivative contracts.



	September 30,		December 31,
	2017		2016
	(Millions)
Segment long-term assets:
Gathering and Processing	$	8,884	$	9,053
Logistics and Marketing	3,293		3,278
Other (a)	283		286
Total long-term assets	12,460		12,617
Current assets	1,311		994
Total assets	$	13,771	$	13,611


(a)	Other long-term assets not allocable to segments consist of corporate leasehold improvements and other long-term assets.

Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheets



	Condensed Consolidating Balance Sheet
	September 30, 2017
	Parent Guarantor		Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	310		$	2		$	—		$	312
Accounts receivable, net	—		—			846			—			846
Inventories	—		—			62			—			62
Other	—		—			91			—			91
Total current assets	—		310			1,001			—			1,311
Property, plant and equipment, net	—		—			8,926			—			8,926
Goodwill and intangible assets, net	—		—			340			—			340
Advances receivable — consolidated subsidiaries	2,563		2,031			—			(4,594		)	—
Investments in consolidated subsidiaries	4,453		7,392			—			(11,845		)	—
Investments in unconsolidated affiliates	—		—			3,002			—			3,002
Other long-term assets	—		—			192			—			192
Total assets	$	7,016	$	9,733		$	13,461		$	(16,439	)	$	13,771
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	$	—	$	69		$	1,215		$	—		$	1,284
Current maturities of long-term debt	—		500			—			—			500
Advances payable — consolidated subsidiaries	—		—			4,594			(4,594		)	—
Long-term debt	—		4,711			—			—			4,711
Other long-term liabilities	—		—			233			—			233
Total liabilities	—		5,280			6,042			(4,594		)	6,728
Commitments and contingent liabilities
Equity:
Partners’ equity:
Net equity	7,016		4,457			7,397			(11,845		)	7,025
Accumulated other comprehensive loss	—		(4		)	(5		)	—			(9		)
Total partners’ equity	7,016		4,453			7,392			(11,845		)	7,016
Noncontrolling interests	—		—			27			—			27
Total equity	7,016		4,453			7,419			(11,845		)	7,043
Total liabilities and equity	$	7,016	$	9,733		$	13,461		$	(16,439	)	$	13,771



	Condensed Consolidating Balance Sheet
	December 31, 2016
	Parent Guarantor		Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—		$	1		$	—		$	1
Accounts receivable, net	—		—			792			—			792
Inventories	—		—			72			—			72
Other	—		—			129			—			129
Total current assets	—		—			994			—			994
Property, plant and equipment, net	—		—			9,069			—			9,069
Goodwill and intangible assets, net	—		—			373			—			373
Advances receivable — consolidated subsidiaries	2,953		2,760			—			(5,713		)	—
Investments in consolidated subsidiaries	3,868		6,587			—			(10,455		)	—
Investments in unconsolidated affiliates	—		—			2,969			—			2,969
Other long-term assets	—		—			206			—			206
Total assets	$	6,821	$	9,347		$	13,611		$	(16,168	)	$	13,611
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	$	—	$	72		$	1,051		$	—		$	1,123
Current maturities of long-term debt	—		500			—			—			500
Advances payable — consolidated subsidiaries	—		—			5,713			(5,713		)	—
Long-term debt	—		4,907			—			—			4,907
Other long-term liabilities	—		—			228			—			228
Total liabilities	—		5,479			6,992			(5,713		)	6,758
Commitments and contingent liabilities
Equity:
Partners’ equity:
Net equity	6,821		3,871			6,592			(10,455		)	6,829
Accumulated other comprehensive loss	—		(3		)	(5		)	—			(8		)
Total partners’ equity	6,821		3,868			6,587			(10,455		)	6,821
Noncontrolling interests	—		—			32			—			32
Total equity	6,821		3,868			6,619			(10,455		)	6,853
Total liabilities and equity	$	6,821	$	9,347		$	13,611		$	(16,168	)	$	13,611

Condensed Income Statement



	Condensed Consolidating Statement of Operations
	Nine Months Ended September 30, 2017
	Parent Guarantor		Subsidiary Issuer			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Operating revenues:
Sales of natural gas, NGLs and condensate	$	—	$	—		$	5,641		$	—		$	5,641
Transportation, processing and other	—		—			474			—			474
Trading and marketing gains, net	—		—			10			—			10
Total operating revenues	—		—			6,125			—			6,125
Operating costs and expenses:
Purchases of natural gas and NGLs	—		—			4,939			—			4,939
Operating and maintenance expense	—		—			513			—			513
Depreciation and amortization expense	—		—			282			—			282
General and administrative expense	—		—			202			—			202
Asset impairments	—		—			48			—			48
Gain on sale of assets, net	—		—			(34		)	—			(34		)
Other expense, net	—		—			15			—			15
Total operating costs and expenses	—		—			5,965			—			5,965
Operating income	—		—			160			—			160
Interest expense, net	—		(219		)	—			—			(219		)
Income from consolidated subsidiaries	169		388			—			(557		)	—
Earnings from unconsolidated affiliates	—		—			234			—			234
Income before income taxes	169		169			394			(557		)	175
Income tax expense	—		—			(5		)	—			(5		)
Net income	169		169			389			(557		)	170
Net income attributable to noncontrolling interests	—		—			(1		)	—			(1		)
Net income attributable to partners	$	169	$	169		$	388		$	(557	)	$	169



	Condensed Consolidating Statement of Operations
	Three Months Ended September 30, 2017
	Parent Guarantor			Subsidiary Issuer			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Operating revenues:
Sales of natural gas, NGLs and condensate	$	—		$	—		$	1,936		$	—		$	1,936
Transportation, processing and other	—			—			162			—			162
Trading and marketing losses, net	—			—			(43		)	—			(43		)
Total operating revenues	—			—			2,055			—			2,055
Operating costs and expenses:
Purchases of natural gas and NGLs	—			—			1,695			—			1,695
Operating and maintenance expense	—			—			168			—			168
Depreciation and amortization expense	—			—			94			—			94
General and administrative expense	—			—			69			—			69
Asset impairments	—			—			48			—			48
Total operating costs and expenses	—			—			2,074			—			2,074
Operating loss	—			—			(19		)	—			(19		)
Interest expense	—			(73		)	—			—			(73		)
(Loss) income from consolidated subsidiaries	(20		)	53			—			(33		)	—
Earnings from unconsolidated affiliates	—			—			74			—			74
(Loss) income before income taxes	(20		)	(20		)	55			(33		)	(18		)
Income tax expense	—			—			(2		)	—			(2		)
Net (loss) income	(20		)	(20		)	53			(33		)	(20		)
Net income attributable to noncontrolling interests	—			—			—			—			—
Net (loss) income attributable to partners	$	(20	)	$	(20	)	$	53		$	(33	)	$	(20	)



	Condensed Consolidating Statement of Operations
	Three Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Operating revenues:
Sales of natural gas, NGLs and condensate	$	—	$	—		$	1,646		$	—		$	1,646
Transportation, processing and other	—		—			162			—			162
Trading and marketing gains, net	—		—			15			—			15
Total operating revenues	—		—			1,823			—			1,823
Operating costs and expenses:
Purchases of natural gas and NGLs	—		—			1,437			—			1,437
Operating and maintenance expense	—		—			161			—			161
Depreciation and amortization expense	—		—			94			—			94
General and administrative expense	—		—			64			—			64
Gain on sale of assets, net	—		—			(41		)	—			(41		)
Restructuring costs	—		—			2			—			2
Other expense, net	—		—			14			—			14
Total operating costs and expenses	—		—			1,731			—			1,731
Operating income	—		—			92			—			92
Interest expense, net	—		(77		)	—			—			(77		)
Income from consolidated subsidiaries	89		166			—			(255		)	—
Earnings from unconsolidated affiliates	—		—			75			—			75
Income before income taxes	89		89			167			(255		)	90
Income tax expense	—		—			(1		)	—			(1		)
Net income	89		89			166			(255		)	89
Net income attributable to noncontrolling interests	—		—			—			—			—
Net income attributable to partners	$	89	$	89		$	166		$	(255	)	$	89



	Condensed Consolidating Statement of Comprehensive Income
	Three Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
	(Millions)
Net income	$	89	$	89	$	166	$	(255	)	$	89
Total other comprehensive income	—		—		—		—			—
Total comprehensive income	89		89		166		(255		)	89
Total comprehensive income attributable to noncontrolling interests	—		—		—		—			—
Total comprehensive income attributable to partners	$	89	$	89	$	166	$	(255	)	$	89



	Condensed Consolidating Statement of Operations
	Nine Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Operating revenues:
Sales of natural gas, NGLs and condensate	$	—	$	—		$	4,431		$	—		$	4,431
Transportation, processing and other	—		—			469			—			469
Trading and marketing gains, net	—		—			10			—			10
Total operating revenues	—		—			4,910			—			4,910
Operating costs and expenses:
Purchases of natural gas and NGLs	—		—			3,866			—			3,866
Operating and maintenance expense	—		—			506			—			506
Depreciation and amortization expense	—		—			284			—			284
General and administrative expense	—		—			187			—			187
Gain on sale of assets, net	—		—			(35		)	—			(35		)
Restructuring costs	—		—			10			—			10
Other income, net	—		—			(68		)	—			(68		)
Total operating costs and expenses	—		—			4,750			—			4,750
Operating income	—		—			160			—			160
Interest expense, net	—		(235		)	—			—			(235		)
Income from consolidated subsidiaries	132		367			—			(499		)	—
Earnings from unconsolidated affiliates	—		—			214			—			214
Income before income taxes	132		132			374			(499		)	139
Income tax expense	—		—			(6		)	—			(6		)
Net income	132		132			368			(499		)	133
Net income attributable to noncontrolling interests	—		—			(1		)	—			(1		)
Net income attributable to partners	$	132	$	132		$	367		$	(499	)	$	132

Condensed Statement of Comprehensive Income



	Condensed Consolidating Statement of Comprehensive (Loss) Income
	Three Months Ended September 30, 2017
	Parent Guarantor			Subsidiary Issuer			Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
	(Millions)
Net (loss) income	$	(20	)	$	(20	)	$	53	$	(33	)	$	(20	)
Total other comprehensive income	—			—			—		—			—
Total comprehensive (loss) income	(20		)	(20		)	53		(33		)	(20		)
Total comprehensive income attributable to noncontrolling interests	—			—			—		—			—
Total comprehensive (loss) income attributable to partners	$	(20	)	$	(20	)	$	53	$	(33	)	$	(20	)



	Condensed Consolidating Statement of Comprehensive Income
	Three Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
	(Millions)
Net income	$	89	$	89	$	166	$	(255	)	$	89
Total other comprehensive income	—		—		—		—			—
Total comprehensive income	89		89		166		(255		)	89
Total comprehensive income attributable to noncontrolling interests	—		—		—		—			—
Total comprehensive income attributable to partners	$	89	$	89	$	166	$	(255	)	$	89



	Condensed Consolidating Statement of Comprehensive Income
	Nine Months Ended September 30, 2016
	Parent Guarantor		Subsidiary Issuer		Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Net income	$	132	$	132	$	368		$	(499	)	$	133
Total other comprehensive income	—		—		—			—			—
Total comprehensive income	132		132		368			(499		)	133
Total comprehensive income attributable to noncontrolling interests	—		—		(1		)	—			(1		)
Total comprehensive income attributable to partners	$	132	$	132	$	367		$	(499	)	$	132



	Condensed Consolidating Statement of Comprehensive Income
	Nine Months Ended September 30, 2017
	Parent Guarantor		Subsidiary Issuer		Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
Net income	$	169	$	169	$	389		$	(557	)	$	170
Other comprehensive income:
Reclassification of cash flow hedge losses into earnings	—		1		—			—			1
Other comprehensive income from consolidated subsidiaries	1		—		—			(1		)	—
Total other comprehensive income	1		1		—			(1		)	1
Total comprehensive income	170		170		389			(558		)	171
Total comprehensive income attributable to noncontrolling interests	—		—		(1		)	—			(1		)
Total comprehensive income attributable to partners	$	170	$	170	$	388		$	(558	)	$	170

Condensed Consolidating Statements of Cash Flows



	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 30, 2017
	Parent Guarantor			Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	—		$	(217	)	$	901		$	—		$	684
INVESTING ACTIVITIES:
Intercompany transfers	390			724			—			(1,114		)	—
Capital expenditures	—			—			(258		)	—			(258		)
Investments in unconsolidated affiliates	—			—			(70		)	—			(70		)
Proceeds from sale of assets	—			—			130			—			130
Net cash provided by (used in) investing activities	390			724			(198		)	(1,114		)	(198		)
FINANCING ACTIVITIES:
Intercompany transfers	—			—			(1,114		)	1,114			—
Payments of long-term debt	—			(195		)	—			—			(195		)
Net change in advances to predecessor from DCP Midstream, LLC	—			—			418			—			418
Distributions to limited partners and general partner	(390		)	—			—			—			(390		)
Distributions to noncontrolling interests	—			—			(6		)	—			(6		)
Other	—			(2		)	—			—			(2		)
Net cash used in by financing activities	(390		)	(197		)	(702		)	1,114			(175		)
Net change in cash and cash equivalents	—			310			1			—			311
Cash and cash equivalents, beginning of period	—			—			1			—			1
Cash and cash equivalents, end of period	$	—		$	310		$	2		$	—		$	312



	Condensed Consolidating Statements of Cash Flows
	Nine Months Ended September 30, 2016
	Parent Guarantor			Subsidiary Issuer			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
	(Millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	—		$	(244	)	$	765		$	—		$	521
INVESTING ACTIVITIES:
Intercompany transfers	362			559			—			(921		)	—
Capital expenditures	—			—			(113		)	—			(113		)
Investments in unconsolidated affiliates	—			—			(38		)	—			(38		)
Proceeds from sale of assets	—			—			160			—			160
Net cash provided by investing activities	362			559			9			(921		)	9
FINANCING ACTIVITIES:
Intercompany transfers	—			—			(921		)	921			—
Proceeds from long-term debt	—			2,926			—			—			2,926
Payments of long-term debt	—			(3,216		)	—			—			(3,216		)
Net change in advances to predecessor from DCP Midstream, LLC	—			—			150			—			150
Distributions to limited partners and general partner	(362		)	—			—			—			(362		)
Distributions to noncontrolling interests	—			—			(6		)	—			(6		)
Other	—			(10		)	—			—			(10		)
Net cash used in financing activities	(362		)	(300		)	(777		)	921			(518		)
Net change in cash and cash equivalents	—			15			(3		)	—			12
Cash and cash equivalents, beginning of period	—			—			3			—			3
Cash and cash equivalents, end of period	$	—		$	15		$	—		$	—		$	15

Description of Business and Basis of Presentation - Additional Information (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Investments in Greater Than 20%
Business Acquisition [Line Items]
Equity method ownership investment (as percent)	20.00%
Investments in Less Than 20%
Business Acquisition [Line Items]
Equity method ownership investment (as percent)	20.00%
DCP Midstream Operating, LP
Business Acquisition [Line Items]
Ownership interest percentage by parent	100.00%
DCP Midstream, LLC \| DCP Midstream GP, LLC
Business Acquisition [Line Items]
Ownership interest percentage by parent	100.00%
DCP Midstream, LLC \| DCP Midstream LP
Business Acquisition [Line Items]
Ownership interest percentage by parent	38.10%
Phillips 66 \| DCP Midstream, LLC
Business Acquisition [Line Items]
Ownership interest percentage by parent	50.00%
Enbridge \| DCP Midstream, LLC
Business Acquisition [Line Items]
Ownership interest percentage by parent	50.00%
Spectra Energy \| DCP Midstream, LLC
Business Acquisition [Line Items]
Ownership interest percentage by parent		50.00%

Acquisitions - Additional Information (Detail) - DCP Midstream, LLC - USD ($)		9 Months Ended
	Jan. 01, 2017	Sep. 30, 2017
Business Acquisition [Line Items]
Cash acquired	$ 424,000,000
Debt assumed	$ 3,150,000,000
Incentive distribution, potential annual reduction (up to)		$ 100,000,000
Common Units
Business Acquisition [Line Items]
Equity interest issued, number of units (in shares)	28,552,480
General Partner Units
Business Acquisition [Line Items]
Equity interest issued, number of units (in shares)	2,550,644

Dispositions (Details) $ in Millions		3 Months Ended		9 Months Ended
Dispositions (Details) $ in Millions	Jun. 01, 2017 USD ($) mi	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of assets, net		$ 0	$ 41	$ 34	$ 35
Douglas Gathering System
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest disposed	100.00%
Length of gathering lines (in miles) \| mi	1,500
Proceeds from sale	$ 129
Gain on sale of assets, net	$ 34

Agreements and Transactions with Affiliates - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Affiliated Entity
Related Party Transaction [Line Items]
Term of agreement			15 years
Affiliated Entity \| Sand Hills
Related Party Transaction [Line Items]
Term of agreement			15 years
Annual service fee			$ 5
Affiliated Entity \| Southern Hills
Related Party Transaction [Line Items]
Term of agreement			15 years
Annual service fee			$ 5
Affiliated Entity \| Front Range
Related Party Transaction [Line Items]
Term of agreement			15 years
Affiliated Entity \| Texas Express
Related Party Transaction [Line Items]
Term of agreement			15 years
Affiliated Entity \| Natural Gas Liquids
Related Party Transaction [Line Items]
Percent of NGL production committed	22.00%		22.00%
Affiliated Entity \| Phillips 66 \| Chevron Phillips Chemical LLC
Related Party Transaction [Line Items]
Equity method ownership investment (as percent)	50.00%		50.00%
Operating Expense
Related Party Transaction [Line Items]
Labor and related expense	$ 50	$ 51	$ 149	$ 158
General and Administrative Expense
Related Party Transaction [Line Items]
Labor and related expense	$ 46	$ 47	$ 116	$ 142

Agreements and Transactions with Affiliates - Transactions with Affiliates (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Related Party Transaction [Line Items]
Sales of natural gas, NGLs and condensate	$ 1,936	$ 1,646	$ 5,641	$ 4,431
Transportation, processing and other	162	162	474	469
Purchases of natural gas and NGLs	1,695	1,437	4,939	3,866
Operating and maintenance expense	168	161	513	506
Affiliated Entity \| Phillips 66
Related Party Transaction [Line Items]
Sales of natural gas, NGLs and condensate	289	237	814	633
Purchases of natural gas and NGLs	7	6	22	12
Operating and maintenance expense	0	1	1	1
Affiliated Entity \| Enbridge
Related Party Transaction [Line Items]
Sales of natural gas, NGLs and condensate	14	0	34	0
Purchases of natural gas and NGLs	12	7	31	25
Operating and maintenance expense	1	1	2	3
Affiliated Entity \| Unconsolidated Affiliates
Related Party Transaction [Line Items]
Sales of natural gas, NGLs and condensate	15	12	37	29
Transportation, processing and other	1	0	4	3
Purchases of natural gas and NGLs	$ 126	$ 113	$ 358	$ 319

Agreements and Transactions with Affiliates - Balances with Affiliates (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Accounts receivable	$ 138	$ 134
Accounts payable	57	48
Phillips 66
Related Party Transaction [Line Items]
Accounts receivable	113	115
Accounts payable	4	4
Other assets	1	2
Enbridge
Related Party Transaction [Line Items]
Accounts receivable	7	1
Accounts payable	7	3
Other assets	0	1
Other liabilities	0	1
Unconsolidated Affiliates
Related Party Transaction [Line Items]
Accounts receivable	18	18
Accounts payable	46	41
Other assets	$ 3	$ 5

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Components Of Inventory [Line Items]
Total inventories	$ 62	$ 72
Natural Gas
Components Of Inventory [Line Items]
Total inventories	32	28
Natural Gas Liquids
Components Of Inventory [Line Items]
Total inventories	$ 30	$ 44

Inventories - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
Inventories - Additional Information (Detail) - USD ($)	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Inventory Disclosure [Abstract]
Lower of cost or market adjustment	$ 0	$ 0	$ 0	$ 3,000,000

Property, Plant and Equipment - Classification of Property, Plant and Equipment (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 14,381	$ 14,367
Accumulated depreciation	(5,455)	(5,298)
Property, plant and equipment, net	8,926	9,069
Gathering and transmission systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 8,447	8,560
Gathering and transmission systems \| Minimum
Property, Plant and Equipment [Line Items]
Depreciable life of property, plant and equipment	20 years
Gathering and transmission systems \| Maximum
Property, Plant and Equipment [Line Items]
Depreciable life of property, plant and equipment	50 years
Processing, storage and terminal facilities
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 5,107	5,134
Processing, storage and terminal facilities \| Minimum
Property, Plant and Equipment [Line Items]
Depreciable life of property, plant and equipment	35 years
Processing, storage and terminal facilities \| Maximum
Property, Plant and Equipment [Line Items]
Depreciable life of property, plant and equipment	60 years
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 539	502
Other \| Minimum
Property, Plant and Equipment [Line Items]
Depreciable life of property, plant and equipment	3 years
Other \| Maximum
Property, Plant and Equipment [Line Items]
Depreciable life of property, plant and equipment	30 years
Construction work in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 288	$ 171

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Interest capitalized on construction projects (Less than $1 million for three and nine months ended 2016)	$ 2	$ 1	$ 4	$ 1
Depreciation expense	$ 90	$ 91	$ 272	$ 275

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017 USD ($)
Goodwill [Roll Forward]
Balance, January 1, 2017	$ 236
Dispositions	(5)
Balance, September 30, 2017	231
Gathering and Processing
Goodwill [Roll Forward]
Balance, January 1, 2017	164
Dispositions	(5)
Balance, September 30, 2017	159
Logistics and Marketing
Goodwill [Roll Forward]
Balance, January 1, 2017	72
Dispositions	0
Balance, September 30, 2017	$ 72
Wholesale Propane Logistics [Member]
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount Less Than	10.00%
Goodwill [Roll Forward]
Balance, September 30, 2017	$ 37

Investments In Unconsolidated Affiliates - Investments In Unconsolidated Affiliates (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	$ 3,002	$ 2,969
DCP Sand Hills Pipeline, LLC
Schedule of Equity Method Investments [Line Items]
Equity method ownership investment (as percent)	66.67%
Investments in unconsolidated affiliates	$ 1,563	1,507
Discovery Producer Services LLC
Schedule of Equity Method Investments [Line Items]
Equity method ownership investment (as percent)	40.00%
Investments in unconsolidated affiliates	$ 376	385
DCP Southern Hills Pipeline, LLC
Schedule of Equity Method Investments [Line Items]
Equity method ownership investment (as percent)	66.67%
Investments in unconsolidated affiliates	$ 741	754
Front Range Pipeline LLC
Schedule of Equity Method Investments [Line Items]
Equity method ownership investment (as percent)	33.33%
Investments in unconsolidated affiliates	$ 165	165
Texas Express Pipeline LLC
Schedule of Equity Method Investments [Line Items]
Equity method ownership investment (as percent)	10.00%
Investments in unconsolidated affiliates	$ 90	93
Panola Pipeline Company, LLC
Schedule of Equity Method Investments [Line Items]
Equity method ownership investment (as percent)	15.00%
Investments in unconsolidated affiliates	$ 24	25
Mont Belvieu Enterprise Fractionator
Schedule of Equity Method Investments [Line Items]
Equity method ownership investment (as percent)	12.50%
Investments in unconsolidated affiliates	$ 24	23
Mont Belvieu 1 Fractionator
Schedule of Equity Method Investments [Line Items]
Equity method ownership investment (as percent)	20.00%
Investments in unconsolidated affiliates	$ 13	10
Other
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	$ 6	$ 7

Investments in Unconsolidated Affiliates - Earnings from Investments in Unconsolidated Affiliates (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	$ 74	$ 75	$ 234	$ 214
DCP Sand Hills Pipeline, LLC
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	37	28	105	84
Discovery Producer Services LLC
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	14	20	59	52
DCP Southern Hills Pipeline, LLC
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	10	13	34	37
Front Range Pipeline LLC
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	5	5	12	14
Texas Express Pipeline LLC
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	4	2	7	6
Mont Belvieu Enterprise Fractionator
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	3	4	10	12
Mont Belvieu 1 Fractionator
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	2	2	6	7
Other
Schedule of Equity Method Investments [Line Items]
Earnings from unconsolidated affiliates	$ (1)	$ 1	$ 1	$ 2

Investments in Unconsolidated Affiliates - Equity Method Investment Summarized Financial Information, Statement of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Operating revenue	$ 358	$ 335	$ 1,063	$ 971
Operating expenses	164	136	464	390
Net income	$ 194	$ 199	$ 598	$ 576

Investments in Unconsolidated Affiliates - Equity Method Investment Summarized Financial Information, Balance Sheet (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Current assets	$ 242	$ 232
Long-term assets	5,253	5,274
Current liabilities	(165)	(156)
Long-term liabilities	(200)	(205)
Net assets	$ 5,130	$ 5,145

Fair Value Measurement - Financial Instruments Carried at Fair Value (Detail) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	$ 310	$ 0
Current Assets \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	32	42
Long- Term Assets \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	4	5
Current Liabilities \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	(42)	(91)
Long- Term Liabilities \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	(10)	(1)
Level 1 \| Current Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	310	0
Level 1 \| Current Assets \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	9	5
Level 1 \| Long- Term Assets \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	1	0
Level 1 \| Current Liabilities \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	(6)	(11)
Level 1 \| Long- Term Liabilities \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	(2)	(1)
Level 2 \| Current Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Level 2 \| Current Assets \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	21	28
Level 2 \| Long- Term Assets \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	2	0
Level 2 \| Current Liabilities \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	(28)	(57)
Level 2 \| Long- Term Liabilities \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	(6)	0
Level 3 \| Current Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Level 3 \| Current Assets \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	2	9
Level 3 \| Long- Term Assets \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	1	5
Level 3 \| Current Liabilities \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	(8)	(23)
Level 3 \| Long- Term Liabilities \| Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivatives	(2)	$ 0
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Adjustment	48
Fair Value, Measurements, Nonrecurring [Member] \| Property, Plant and Equipment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Adjustment	26
Fair Value, Measurements, Nonrecurring [Member] \| Intangible Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Adjustment	21
Fair Value, Measurements, Nonrecurring [Member] \| Investment in unconsolidated affiliate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Adjustment	$ 1

Fair Value Measurement - Condensed Consolidated Balance Sheets for Derivative Financial Instruments (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Jan. 03, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
CME Rule 814 Effective Date	Jan. 03, 2017
Current Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		$ 7	$ 5	$ 9	$ 35
Net realized and unrealized gains (losses) included in earnings		0	2	4	(3)
Transfers out of Level 3		0	(2)	(4)	(2)
Settlements		0	(1)	(2)	(26)
Ending balance		2	4	2	4
Net unrealized gains (losses) on derivatives still held included in earnings		3	1	7	2
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Assets, CME Rule 814 adjustments		5		5
Long- Term Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		2	2	5	4
Net realized and unrealized gains (losses) included in earnings		2	0	(1)	(2)
Transfers out of Level 3		0	0	0	0
Settlements		0	0	0	0
Ending balance		1	2	1	2
Net unrealized gains (losses) on derivatives still held included in earnings		2	0	(1)	1
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Assets, CME Rule 814 adjustments		3		3
Current Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		(2)	(8)	(23)	(23)
Net realized and unrealized (losses) gains included in earnings		(26)	0	(20)	12
Transfers out of Level 3		2	2	12	3
Settlements		2	1	7	3
Ending balance		(8)	(5)	(8)	(5)
Net unrealized gains (losses) on derivatives still held included in earnings		(22)	0	(21)	(4)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liabilities, CME Rule 814 adjustments		16		16
Long- Term Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		(3)	(2)	0	(6)
Net realized and unrealized (losses) gains included in earnings		0	1	(3)	5
Transfers out of Level 3		0	0	0	0
Settlements		0	0	0	0
Ending balance		(2)	(1)	(2)	(1)
Net unrealized gains (losses) on derivatives still held included in earnings		0	$ 1	(2)	$ 5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liabilities, CME Rule 814 adjustments		$ 1		$ 1

Fair Value Measurement - Schedule of Valuation Processes (Detail) - Level 3 - Market Approach Valuation Technique $ in Millions	Sep. 30, 2017 USD ($) $ / MMBTU $ / gal
Derivative Liabilities \| Natural Gas Liquids \| Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Forward Curve Range \| $ / gal	0.21
Derivative Liabilities \| Natural Gas Liquids \| Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Liabilities, fair value \| $	$ (10)
Forward Curve Range \| $ / gal	1.22
Derivative Liabilities \| Natural Gas \| Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Forward Curve Range \| $ / MMBTU	2.21
Derivative Liabilities \| Natural Gas \| Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Forward Curve Range \| $ / MMBTU	2.68
Derivative Assets \| Natural Gas Liquids
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Assets, fair value \| $	$ 3
Derivative Assets \| Natural Gas Liquids \| Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Forward Curve Range \| $ / gal	0.28
Derivative Assets \| Natural Gas Liquids \| Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Forward Curve Range \| $ / gal	1.22
Derivative Assets \| Natural Gas \| Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Forward Curve Range \| $ / MMBTU	0.00
Derivative Assets \| Natural Gas \| Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Forward Curve Range \| $ / MMBTU	0.00

Fair Value Measurement - Carrying Value and Fair Value of Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Total Debt, Carrying Value	$ 5,235	$ 5,430
Total Debt, Fair Value	$ 5,365	$ 5,395

Fair Value Measurement Fair Value Measurement - Schedule of Assets Measured at Fair Value (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges	$ 48	$ 0	$ 48	$ 0
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant, and Equipment, Fair Value Disclosure	14		14
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]	26		26
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure	11		11
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	1		1
Assets, Fair Value Adjustment	48
Fair Value, Measurements, Nonrecurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant, and Equipment, Fair Value Disclosure	0		0
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]	0		0
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure	0		0
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	0		0
Fair Value, Measurements, Nonrecurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant, and Equipment, Fair Value Disclosure	0		0
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]	0		0
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure	0		0
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	0		0
Fair Value, Measurements, Nonrecurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant, and Equipment, Fair Value Disclosure	14		14
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]	26		26
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure	11		11
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	1		$ 1
Property, Plant and Equipment [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Adjustment	26
Intangible Assets [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Adjustment	21
Investment in unconsolidated affiliate [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Adjustment	$ 1

Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Fair value adjustments related to interest rate swap fair value hedges	$ 23	$ 24
Unamortized issuance costs	(24)	(23)
Unamortized discount	(13)	(14)
Total debt	5,211	5,407
Current maturities of long-term debt	500	500
Long-term debt	4,711	4,907
Credit Agreement
Line of Credit Facility [Line Items]
Credit Facility	0	$ 195
Weighted-average variable interest rate		2.01%
Senior notes \| Issued November 2012, interest at 2.500% payable semi-annually, due December 2017
Line of Credit Facility [Line Items]
Senior Notes	$ 500	$ 500
Debt interest rate percentage	2.50%
Senior notes \| Issued February 2009, interest at 9.750% payable semiannually, due March 2019
Line of Credit Facility [Line Items]
Senior Notes	$ 450	450
Debt interest rate percentage	9.75%
Senior notes \| Issued March 2014, interest at 2.700% payable semi-annually, due April 2019
Line of Credit Facility [Line Items]
Senior Notes	$ 325	325
Debt interest rate percentage	2.70%
Senior notes \| Issued March 2010, interest at 5.350% payable semiannually, due March 2020
Line of Credit Facility [Line Items]
Senior Notes	$ 600	600
Debt interest rate percentage	5.35%
Senior notes \| Issued September 2011, interest at 4.750% payable semiannually, due September 2021
Line of Credit Facility [Line Items]
Senior Notes	$ 500	500
Debt interest rate percentage	4.75%
Senior notes \| Issued March 2012, interest at 4.950% payable semi-annually, due April 2022
Line of Credit Facility [Line Items]
Senior Notes	$ 350	350
Debt interest rate percentage	4.95%
Senior notes \| Issued March 2013, interest at 3.875% payable semi-annually, due March 2023
Line of Credit Facility [Line Items]
Senior Notes	$ 500	500
Debt interest rate percentage	3.875%
Senior notes \| Issued August 2000, interest at 8.125% payable semi-annually, due August 2030
Line of Credit Facility [Line Items]
Senior Notes	$ 300	300
Debt interest rate percentage	8.125%
Senior notes \| Issued October 2006, interest at 6.450% payable semi-annually, due November 2036
Line of Credit Facility [Line Items]
Senior Notes	$ 300	300
Debt interest rate percentage	6.45%
Senior notes \| Issued September 2007, interest at 6.750% payable semi-annually, due September 2037
Line of Credit Facility [Line Items]
Senior Notes	$ 450	450
Debt interest rate percentage	6.75%
Senior notes \| Issued March 2014, interest at 5.600% payable semi-annually, due April 2044
Line of Credit Facility [Line Items]
Senior Notes	$ 400	400
Debt interest rate percentage	5.60%
Junior subordinated notes \| Issued May 2013, interest at 5.850% payable semi-annually, due May 2043
Line of Credit Facility [Line Items]
Senior Notes	$ 550	$ 550
Debt interest rate percentage	5.85%

Debt - Additional Information (Detail)	9 Months Ended
Debt - Additional Information (Detail)	Sep. 30, 2017 USD ($)	Feb. 28, 2017 USD ($)	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Letter of credit amount outstanding	$ 13,000,000
Interest deferment period	5 years
Credit Agreement
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 1,400,000,000.0	$ 1,400,000,000.0	$ 1,250,000,000.00
Basis spread determined by credit rating	0.45%
Commitment fee percentage	0.30%
Unused capacity under the credit agreement	$ 1,373,000,000
Letter of credit amount outstanding	25,000,000
Debt covenants, maximum borrowing amount	$ 1,373,000,000
Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Variable rate basis spread	1.45%
Credit Agreement \| Federal Funds Rate
Debt Instrument [Line Items]
Variable rate basis spread	0.50%
Credit Agreement \| LIBOR Market Index
Debt Instrument [Line Items]
Variable rate basis spread	1.00%
Credit Agreement \| Maximum
Debt Instrument [Line Items]
Maximum leverage ratio in event of acquisition	5.50
Credit Agreement \| Quarters Ending March 31, 2017 through December 31, 2017 \| Maximum
Debt Instrument [Line Items]
Maximum leverage ratio	5.75
Credit Agreement \| Quarter Ending March 31, 2018 \| Maximum
Debt Instrument [Line Items]
Maximum leverage ratio	5.50
Credit Agreement \| Quarter Ending June 30, 2018 \| Maximum
Debt Instrument [Line Items]
Maximum leverage ratio	5.25
Credit Agreement \| Quarters After June 30, 2018 \| Maximum
Debt Instrument [Line Items]
Maximum leverage ratio	5.00

Debt - Future Maturities of Long-Term Debt (Detail) $ in Millions	Sep. 30, 2017 USD ($)
Maturities of Long-term Debt [Abstract]
2018	$ 0
2019	775
2020	600
2021	500
2022	350
Thereafter	2,500
Total long-term debt	$ 4,725

Risk Management and Hedging Activities - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
AOCI, cash flow hedge	$ (7,043,000,000)	$ (7,007,000,000)	$ (7,043,000,000)	$ (7,007,000,000)	$ (6,853,000,000)		$ (7,092,000,000)
Collateral, cash deposits	42,000,000		42,000,000
Letter of credit amount outstanding	13,000,000		13,000,000
Collateral, cash held	19,000,000		19,000,000
Letters of credit received	36,000,000		36,000,000
Gain (loss) on hedge ineffectiveness	0	0	0	0
Gain (loss) on discontinuation of cash flow hedge	0	0	0	0
Commodity derivatives
Derivative [Line Items]
Derivative contracts that contain credit-risk related contingent features that were in a net liability position (less than)	$ 1,000,000		$ 1,000,000
Affiliated Entity \| Natural Gas Liquids
Derivative [Line Items]
Percent of NGL production committed	22.00%		22.00%
Accumulated Net Gain (Loss) from Cash Flow Hedges
Derivative [Line Items]
AOCI, cash flow hedge	$ 9,000,000	8,000,000	$ 9,000,000	8,000,000	8,000,000	$ 8,000,000	8,000,000
Accumulated Net Gain (Loss) from Cash Flow Hedges \| Commodity derivatives
Derivative [Line Items]
AOCI, cash flow hedge	$ 6,000,000	$ 6,000,000	$ 6,000,000	$ 6,000,000	$ 6,000,000	$ 6,000,000	$ 6,000,000

Risk Management and Hedging Activities - Summary of Gross and Net Amounts of Derivative Instruments (Detail) - Commodity derivatives - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Offsetting Assets [Line Items]
Gross Amounts of Assets Presented in the Balance Sheet	$ 36	$ 47
Amounts Not Offset in the Balance Sheet - Financial Instruments	0	0
Net Amount	36	47
Offsetting Liabilities [Line Items]
Gross Amounts of Liabilities Presented in the Balance Sheet	(52)	(92)
Amounts Not Offset in the Balance Sheet - Financial Instruments	0	0
Net Amount	$ (52)	$ (92)

Risk Management and Hedging Activities - Schedule of Designated and Non-Designated Derivative Instruments in Statement of Financial Position, Fair Value (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivative Asset [Abstract]
Unrealized gains on derivative instruments — current	$ 32	$ 42
Unrealized gains on derivative instruments — long-term	4	5
Derivative Liability [Abstract]
Unrealized losses on derivative instruments — long-term	(10)	(1)
Commodity derivatives \| Derivative Asset Not Designated As Hedging Instruments
Derivative Asset [Abstract]
Unrealized gains on derivative instruments — current	32	42
Unrealized gains on derivative instruments — long-term	4	5
Total	36	47
Commodity derivatives \| Derivative Liabilities Not Designated As Hedging Instruments
Derivative Liability [Abstract]
Unrealized losses on derivative instruments — current	(42)	(91)
Unrealized losses on derivative instruments — long-term	(10)	(1)
Total	$ (52)	$ (92)

Risk Management and Hedging Activities - Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			$ 6,853,000,000	$ 7,092,000,000
Ending balance	$ 7,043,000,000	$ 7,007,000,000	7,043,000,000	7,007,000,000
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net	0	0	0	0
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net	0	0	0	0
Accumulated Net Gain (Loss) from Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(8,000,000)	(8,000,000)	(8,000,000)
Losses reclassified from AOCI to earnings — effective portion			1,000,000
Deficit purchase price under carrying value of the Transaction			(2,000,000)
Ending balance	(9,000,000)	(8,000,000)	(9,000,000)	(8,000,000)
Accumulated Net Gain (Loss) from Cash Flow Hedges \| Interest Rate Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(3,000,000)	(3,000,000)	(3,000,000)
Losses reclassified from AOCI to earnings — effective portion			1,000,000
Deficit purchase price under carrying value of the Transaction			(2,000,000)
Ending balance	(4,000,000)	(3,000,000)	(4,000,000)	(3,000,000)
Accumulated Net Gain (Loss) from Cash Flow Hedges \| Commodity derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(6,000,000)	(6,000,000)	(6,000,000)
Losses reclassified from AOCI to earnings — effective portion			0
Deficit purchase price under carrying value of the Transaction			0
Ending balance	(6,000,000)	(6,000,000)	(6,000,000)	(6,000,000)
Accumulated Net Gain (Loss) from Cash Flow Hedges \| Foreign Currency Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		1,000,000	1,000,000	1,000,000
Losses reclassified from AOCI to earnings — effective portion			0
Deficit purchase price under carrying value of the Transaction			0
Ending balance	1,000,000	$ 1,000,000	1,000,000	$ 1,000,000
Cash Flow Hedge
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(9,000,000)
Ending balance	(9,000,000)		(9,000,000)
Deferred losses in AOCI expected to be reclassified into earnings over the next 12 months	(1,000,000)
Cash Flow Hedge \| Interest Rate Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(4,000,000)
Ending balance	(4,000,000)		(4,000,000)
Deferred losses in AOCI expected to be reclassified into earnings over the next 12 months	(1,000,000)
Cash Flow Hedge \| Commodity derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(6,000,000)
Ending balance	(6,000,000)		(6,000,000)
Deferred losses in AOCI expected to be reclassified into earnings over the next 12 months	0
Cash Flow Hedge \| Foreign Currency Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	1,000,000
Ending balance	1,000,000		$ 1,000,000
Deferred losses in AOCI expected to be reclassified into earnings over the next 12 months	$ 0

Risk Management and Hedging Activities - Schedule of Changes in Derivative Instruments not Designated as Hedging Instruments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative [Line Items]
Trading and marketing gains, net	$ (43)	$ 15	$ 10	$ 10
Derivative Assets Not Designated As Hedging Instruments \| Third Party \| Commodity derivatives
Derivative [Line Items]
Realized gains	16	6	9	90
Unrealized (losses) gains	(59)	9	1	(80)
Trading and marketing gains, net	$ (43)	$ 15	$ 10	$ 10

Risk Management and Hedging Activities - Schedule of Net Long or Short Positions Expected to be Realized (Detail)	9 Months Ended
	Sep. 30, 2017 MMBTU bbl	Sep. 30, 2016 MMBTU bbl
Crude Oil
Net (Short) Position, Volume [Abstract]
Net (Short) Position (Bbls), Year One \| bbl	(81,000)	(380,000)
Net (Short) Position (Bbls), Year Two \| bbl	(1,803,000)	(964,000)
Net (Short) Position (Bbls), Year Three \| bbl	(367,000)	0
Net (Short) Position (Bbls), Year Four \| bbl	(50,000)	(40,000)
Net (Short) Position (Bbls), Year Five \| bbl		(50,000)
Natural Gas
Net Long (Short) Position, MMBtu [Abstract]
Net Long (Short) Position (MMBtu), Year One \| MMBTU	(20,888,000)	(5,915,500)
Net Long (Short) Position (MMBtu), Year Two \| MMBTU	(29,277,400)	(27,686,850)
Net Long (Short) Position (MMBtu), Year Three \| MMBTU	0	0
Net Long (Short) Position (MMBtu), Year Four \| MMBTU	0	0
Net Long (Short) Position (MMBtu), Year Five \| MMBTU		0
Natural Gas Liquids
Net (Short) Position, Volume [Abstract]
Net (Short) Position (Bbls), Year One \| bbl	(9,288,558)	(10,018,903)
Net (Short) Position (Bbls), Year Two \| bbl	(13,417,484)	(7,725,057)
Net (Short) Position (Bbls), Year Three \| bbl	(2,353,300)	150,216
Net (Short) Position (Bbls), Year Four \| bbl	238,548	(1,984)
Net (Short) Position (Bbls), Year Five \| bbl		240,000
Natural Gas Basis Swaps
Net Long (Short) Position, MMBtu [Abstract]
Net Long (Short) Position (MMBtu), Year One \| MMBTU	2,680,000	(512,500)
Net Long (Short) Position (MMBtu), Year Two \| MMBTU	9,190,000	6,515,000
Net Long (Short) Position (MMBtu), Year Three \| MMBTU	9,317,500	0
Net Long (Short) Position (MMBtu), Year Four \| MMBTU	3,660,000	0
Net Long (Short) Position (MMBtu), Year Five \| MMBTU		0

Partnership Equity and Distributions - Additional Information (Detail)		3 Months Ended	9 Months Ended
	Jan. 01, 2017 shares	Sep. 30, 2017 USD ($) shares	Sep. 30, 2017 USD ($) shares	Dec. 31, 2016 shares	Sep. 30, 2016 shares
Partnership Equity And Distribution [Line Items]
Distribution coverage ratio, target			1.0
Incentive distribution, reduction \| $		$ 20,000,000	$ 40,000,000
Common unitholders, units issued (in shares)		143,309,828	143,309,828	114,749,848
2014 Equity Distribution Agreement
Partnership Equity And Distribution [Line Items]
Common unitholders, units issued (in shares)		0	0		0
DCP Midstream, LLC
Partnership Equity And Distribution [Line Items]
Incentive distribution, potential annual reduction (up to) \| $			$ 100,000,000
Incentive distribution potential quarterly reduction \| $			$ 20,000,000
DCP Midstream, LLC \| Common Units
Partnership Equity And Distribution [Line Items]
Equity interest issued, number of units (in shares)	28,552,480
DCP Midstream, LLC \| General Partner Units
Partnership Equity And Distribution [Line Items]
Equity interest issued, number of units (in shares)	2,550,644

Partnership Equity and Distributions - Cash Distribution (Detail) - USD ($) $ / shares in Units, $ in Millions								3 Months Ended	9 Months Ended
	Aug. 14, 2017	May 15, 2017	Feb. 14, 2017	Nov. 14, 2016	Aug. 12, 2016	May 13, 2016	Feb. 12, 2016	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Equity [Abstract]
Incentive distribution, reduction								$ 20	$ 40
Per Unit Distribution (in dollars per share)	$ 0.78	$ 0.78	$ 0.78	$ 0.78	$ 0.78	$ 0.78	$ 0.78
Total Cash Distribution	$ 134	$ 135	$ 121	$ 120	$ 121	$ 121	$ 121		$ 390	$ 362

Business Segments - Segment Information (Detail)	3 Months Ended		9 Months Ended
Business Segments - Segment Information (Detail)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($) Segment	Sep. 30, 2016 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| Segment			2
Segment Reporting Information [Line Items]
Total operating revenues	$ 2,055,000,000	$ 1,823,000,000	$ 6,125,000,000	$ 4,910,000,000
Gross margin	360,000,000	386,000,000	1,186,000,000	1,044,000,000
Operating and maintenance expense	(168,000,000)	(161,000,000)	(513,000,000)	(506,000,000)
Depreciation and amortization expense	(94,000,000)	(94,000,000)	(282,000,000)	(284,000,000)
General and administrative expense	(69,000,000)	(64,000,000)	(202,000,000)	(187,000,000)
Asset Impairment Charges	48,000,000	0	48,000,000	0
Other income (expense)	0	(14,000,000)	(15,000,000)	68,000,000
Gain (loss) on sale of assets, net	0	41,000,000	34,000,000	35,000,000
Restructuring costs	0	(2,000,000)	0	(10,000,000)
Earnings from unconsolidated affiliates	74,000,000	75,000,000	234,000,000	214,000,000
Interest expense, net	(73,000,000)	(77,000,000)	(219,000,000)	(235,000,000)
Income tax expense	(2,000,000)	(1,000,000)	(5,000,000)	(6,000,000)
Net (loss) income	(20,000,000)	89,000,000	170,000,000	133,000,000
Net income attributable to noncontrolling interests	0	0	(1,000,000)	(1,000,000)
Net (loss) income attributable to partners	(20,000,000)	89,000,000	169,000,000	132,000,000
Non-cash derivative mark-to-market	(59,000,000)	9,000,000	1,000,000	(80,000,000)
Non-cash lower of cost or market adjustment	0	0	0	3,000,000
Capital expenditures	99,000,000	30,000,000	258,000,000	113,000,000
Investments in unconsolidated affiliates, net	29,000,000	11,000,000	70,000,000	38,000,000
Operating Segments \| Gathering and Processing
Segment Reporting Information [Line Items]
Total operating revenues	1,337,000,000	1,217,000,000	3,965,000,000	3,190,000,000
Gross margin	303,000,000	335,000,000	1,021,000,000	892,000,000
Operating and maintenance expense	(154,000,000)	(146,000,000)	(469,000,000)	(458,000,000)
Depreciation and amortization expense	(85,000,000)	(85,000,000)	(256,000,000)	(258,000,000)
General and administrative expense	(2,000,000)	(2,000,000)	(15,000,000)	(10,000,000)
Asset Impairment Charges	48,000,000		48,000,000
Other income (expense)	0	(13,000,000)	(3,000,000)	74,000,000
Gain (loss) on sale of assets, net		25,000,000	34,000,000	19,000,000
Restructuring costs		0		0
Earnings from unconsolidated affiliates	15,000,000	20,000,000	59,000,000	52,000,000
Interest expense, net	0	0	0	0
Income tax expense	0	0	0	0
Net (loss) income	29,000,000	134,000,000	323,000,000	311,000,000
Net income attributable to noncontrolling interests	0	0	(1,000,000)	(1,000,000)
Net (loss) income attributable to partners	29,000,000	134,000,000	322,000,000	310,000,000
Non-cash derivative mark-to-market	(51,000,000)	(5,000,000)	(4,000,000)	(73,000,000)
Non-cash lower of cost or market adjustment				0
Capital expenditures	91,000,000	18,000,000	237,000,000	90,000,000
Investments in unconsolidated affiliates, net	1,000,000	0	1,000,000	0
Operating Segments \| Logistics and Marketing
Segment Reporting Information [Line Items]
Total operating revenues	1,913,000,000	1,641,000,000	5,596,000,000	4,362,000,000
Gross margin	57,000,000	51,000,000	165,000,000	152,000,000
Operating and maintenance expense	(9,000,000)	(13,000,000)	(31,000,000)	(33,000,000)
Depreciation and amortization expense	(4,000,000)	(4,000,000)	(11,000,000)	(12,000,000)
General and administrative expense	(3,000,000)	(2,000,000)	(8,000,000)	(7,000,000)
Asset Impairment Charges	0		0
Other income (expense)	(1,000,000)	0	(12,000,000)	(5,000,000)
Gain (loss) on sale of assets, net		16,000,000	0	16,000,000
Restructuring costs		0		0
Earnings from unconsolidated affiliates	59,000,000	55,000,000	175,000,000	162,000,000
Interest expense, net	0	0	0	0
Income tax expense	0	0	0	0
Net (loss) income	99,000,000	103,000,000	278,000,000	273,000,000
Net income attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to partners	99,000,000	103,000,000	278,000,000	273,000,000
Non-cash derivative mark-to-market	(8,000,000)	14,000,000	5,000,000	(7,000,000)
Non-cash lower of cost or market adjustment				3,000,000
Capital expenditures	1,000,000	4,000,000	2,000,000	7,000,000
Investments in unconsolidated affiliates, net	28,000,000	11,000,000	69,000,000	38,000,000
Other
Segment Reporting Information [Line Items]
Total operating revenues	0	0	0	0
Gross margin	0	0	0	0
Operating and maintenance expense	(5,000,000)	(2,000,000)	(13,000,000)	(15,000,000)
Depreciation and amortization expense	(5,000,000)	(5,000,000)	(15,000,000)	(14,000,000)
General and administrative expense	(64,000,000)	(60,000,000)	(179,000,000)	(170,000,000)
Asset Impairment Charges	0		0
Other income (expense)	1,000,000	(1,000,000)	0	(1,000,000)
Gain (loss) on sale of assets, net		0	0	0
Restructuring costs		(2,000,000)		(10,000,000)
Earnings from unconsolidated affiliates	0	0	0	0
Interest expense, net	(73,000,000)	(77,000,000)	(219,000,000)	(235,000,000)
Income tax expense	(2,000,000)	(1,000,000)	(5,000,000)	(6,000,000)
Net (loss) income	(148,000,000)	(148,000,000)	(431,000,000)	(451,000,000)
Net income attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to partners	(148,000,000)	(148,000,000)	(431,000,000)	(451,000,000)
Non-cash derivative mark-to-market	0	0	0	0
Non-cash lower of cost or market adjustment				0
Capital expenditures	7,000,000	8,000,000	19,000,000	16,000,000
Investments in unconsolidated affiliates, net	0	0	0	0
Eliminations
Segment Reporting Information [Line Items]
Total operating revenues	(1,195,000,000)	(1,035,000,000)	(3,436,000,000)	(2,642,000,000)
Gross margin	0	0	0	0
Operating and maintenance expense	0	0	0	0
Depreciation and amortization expense	0	0	0	0
General and administrative expense	0	0	0	0
Asset Impairment Charges	0		0
Other income (expense)	0	0	0	0
Gain (loss) on sale of assets, net		0	0	0
Restructuring costs		0		0
Earnings from unconsolidated affiliates	0	0	0	0
Interest expense, net	0	0	0	0
Income tax expense	0	0	0	0
Net (loss) income	0	0	0	0
Net income attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to partners	0	0	0	0
Non-cash derivative mark-to-market	0	0	0	0
Non-cash lower of cost or market adjustment				0
Capital expenditures	0	0	0	0
Investments in unconsolidated affiliates, net	$ 0	$ 0	$ 0	$ 0

Business Segments - Segment Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting, Asset Reconciling Item [Line Items]
Segment long-term assets	$ 12,460	$ 12,617
Current assets	1,311	994
Total assets	13,771	13,611
Operating Segments \| Gathering and Processing
Segment Reporting, Asset Reconciling Item [Line Items]
Segment long-term assets	8,884	9,053
Operating Segments \| Logistics and Marketing
Segment Reporting, Asset Reconciling Item [Line Items]
Segment long-term assets	3,293	3,278
Other
Segment Reporting, Asset Reconciling Item [Line Items]
Segment long-term assets	$ 283	$ 286

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(14))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(10))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(12))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(11))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(17))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(16))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Supplemental Cash Flow Information [Abstract]
Cash paid for interest, net of amounts capitalized	$ 218	$ 248
Cash paid for income taxes, net of income tax refunds	2	2
Noncash Investing and Financing Items [Abstract]
Property, plant and equipment acquired with accounts payable and accrued liabilities	27	15
Other non-cash changes in property, plant and equipment	(1)	1
Issuance of common and general partner units	1,125	0
Deficit purchase price in the Transaction	$ 3,094	$ 0

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheets (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 312	$ 1	$ 15	$ 3
Accounts receivable, net	846	792
Inventories	62	72
Other	91	129
Total current assets	1,311	994
Property, plant and equipment, net	8,926	9,069
Goodwill and intangible assets, net	340	373
Advances receivable — consolidated subsidiaries	0	0
Investments in unconsolidated affiliates	0	0
Investments in unconsolidated affiliates	3,002	2,969
Other long-term assets	192	206
Total assets	13,771	13,611
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	1,284	1,123
Current maturities of long-term debt	500	500
Advances payable — consolidated subsidiaries	0	0
Long-term debt	4,711	4,907
Other long-term liabilities	233	228
Total liabilities	6,728	6,758
Commitments and contingent liabilities
Equity:
Net equity	7,025	6,829
Accumulated other comprehensive loss	(9)	(8)
Total partners’ equity	7,016	6,821
Noncontrolling interests	27	32
Total equity	7,043	6,853	7,007	7,092
Total liabilities and equity	13,771	13,611
Reportable Legal Entities \| Parent Guarantor
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Inventories	0	0
Other	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Goodwill and intangible assets, net	0	0
Advances receivable — consolidated subsidiaries	2,563	2,953
Investments in unconsolidated affiliates	4,453	3,868
Investments in unconsolidated affiliates	0	0
Other long-term assets	0	0
Total assets	7,016	6,821
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	0	0
Current maturities of long-term debt	0	0
Advances payable — consolidated subsidiaries	0	0
Long-term debt	0	0
Other long-term liabilities	0	0
Total liabilities	0	0
Commitments and contingent liabilities
Equity:
Net equity	7,016	6,821
Accumulated other comprehensive loss	0	0
Total partners’ equity	7,016	6,821
Noncontrolling interests	0	0
Total equity	7,016	6,821
Total liabilities and equity	7,016	6,821
Reportable Legal Entities \| Subsidiary Issuer
ASSETS
Cash and cash equivalents	310	0	15	0
Accounts receivable, net	0	0
Inventories	0	0
Other	0	0
Total current assets	310	0
Property, plant and equipment, net	0	0
Goodwill and intangible assets, net	0	0
Advances receivable — consolidated subsidiaries	2,031	2,760
Investments in unconsolidated affiliates	7,392	6,587
Investments in unconsolidated affiliates	0	0
Other long-term assets	0	0
Total assets	9,733	9,347
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	69	72
Current maturities of long-term debt	500	500
Advances payable — consolidated subsidiaries	0	0
Long-term debt	4,711	4,907
Other long-term liabilities	0	0
Total liabilities	5,280	5,479
Commitments and contingent liabilities
Equity:
Net equity	4,457	3,871
Accumulated other comprehensive loss	(4)	(3)
Total partners’ equity	4,453	3,868
Noncontrolling interests	0	0
Total equity	4,453	3,868
Total liabilities and equity	9,733	9,347
Reportable Legal Entities \| Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	2	1	0	3
Accounts receivable, net	846	792
Inventories	62	72
Other	91	129
Total current assets	1,001	994
Property, plant and equipment, net	8,926	9,069
Goodwill and intangible assets, net	340	373
Advances receivable — consolidated subsidiaries	0	0
Investments in unconsolidated affiliates	0	0
Investments in unconsolidated affiliates	3,002	2,969
Other long-term assets	192	206
Total assets	13,461	13,611
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	1,215	1,051
Current maturities of long-term debt	0	0
Advances payable — consolidated subsidiaries	4,594	5,713
Long-term debt	0	0
Other long-term liabilities	233	228
Total liabilities	6,042	6,992
Commitments and contingent liabilities
Equity:
Net equity	7,397	6,592
Accumulated other comprehensive loss	(5)	(5)
Total partners’ equity	7,392	6,587
Noncontrolling interests	27	32
Total equity	7,419	6,619
Total liabilities and equity	13,461	13,611
Consolidating Adjustments
ASSETS
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable, net	0	0
Inventories	0	0
Other	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Goodwill and intangible assets, net	0	0
Advances receivable — consolidated subsidiaries	(4,594)	(5,713)
Investments in unconsolidated affiliates	(11,845)	(10,455)
Investments in unconsolidated affiliates	0	0
Other long-term assets	0	0
Total assets	(16,439)	(16,168)
LIABILITIES AND EQUITY
Accounts payable and other current liabilities	0	0
Current maturities of long-term debt	0	0
Advances payable — consolidated subsidiaries	(4,594)	(5,713)
Long-term debt	0	0
Other long-term liabilities	0	0
Total liabilities	(4,594)	(5,713)
Commitments and contingent liabilities
Equity:
Net equity	(11,845)	(10,455)
Accumulated other comprehensive loss	0	0
Total partners’ equity	(11,845)	(10,455)
Noncontrolling interests	0	0
Total equity	(11,845)	(10,455)
Total liabilities and equity	$ (16,439)	$ (16,168)

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating revenues:
Sales of natural gas, NGLs and condensate	$ 1,936	$ 1,646	$ 5,641	$ 4,431
Transportation, processing and other	162	162	474	469
Trading and marketing (losses) gains, net	(43)	15	10	10
Total operating revenues	2,055	1,823	6,125	4,910
Purchases of natural gas and NGLs	1,695	1,437	4,939	3,866
Operating and maintenance expense	168	161	513	506
Depreciation and amortization expense	94	94	282	284
General and administrative expense	69	64	202	187
Impairment of Oil and Gas Properties	48		48
Gain on sale of assets, net	0	(41)	(34)	(35)
Restructuring costs	0	2	0	10
Other expense (income), net	0	14	15	(68)
Total operating costs and expenses	2,074	1,731	5,965	4,750
Operating (loss) income	(19)	92	160	160
Interest expense	(73)	(77)	(219)	(235)
(Loss) income from consolidated subsidiaries	0	0	0	0
Earnings from unconsolidated affiliates	74	75	234	214
(Loss) income before income taxes	(18)	90	175	139
Income tax expense	(2)	(1)	(5)	(6)
Net (loss) income	(20)	89	170	133
Net income attributable to noncontrolling interests	0	0	(1)	(1)
Net (loss) income attributable to partners	(20)	89	169	132
Reportable Legal Entities \| Parent Guarantor
Operating revenues:
Sales of natural gas, NGLs and condensate	0	0	0	0
Transportation, processing and other	0	0	0	0
Trading and marketing (losses) gains, net	0	0	0	0
Total operating revenues	0	0	0	0
Purchases of natural gas and NGLs	0	0	0	0
Operating and maintenance expense	0	0	0	0
Depreciation and amortization expense	0	0	0	0
General and administrative expense	0	0	0	0
Impairment of Oil and Gas Properties	0		0
Gain on sale of assets, net		0	0	0
Restructuring costs		0		0
Other expense (income), net		0	0	0
Total operating costs and expenses	0	0	0	0
Operating (loss) income	0	0	0	0
Interest expense	0	0	0	0
(Loss) income from consolidated subsidiaries	(20)	89	169	132
Earnings from unconsolidated affiliates	0	0	0	0
(Loss) income before income taxes	(20)	89	169	132
Income tax expense	0	0	0	0
Net (loss) income	(20)	89	169	132
Net income attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to partners	(20)	89	169	132
Reportable Legal Entities \| Subsidiary Issuer
Operating revenues:
Sales of natural gas, NGLs and condensate	0	0	0	0
Transportation, processing and other	0	0	0	0
Trading and marketing (losses) gains, net	0	0	0	0
Total operating revenues	0	0	0	0
Purchases of natural gas and NGLs	0	0	0	0
Operating and maintenance expense	0	0	0	0
Depreciation and amortization expense	0	0	0	0
General and administrative expense	0	0	0	0
Impairment of Oil and Gas Properties	0		0
Gain on sale of assets, net		0	0	0
Restructuring costs		0		0
Other expense (income), net		0	0	0
Total operating costs and expenses	0	0	0	0
Operating (loss) income	0	0	0	0
Interest expense	(73)	(77)	(219)	(235)
(Loss) income from consolidated subsidiaries	53	166	388	367
Earnings from unconsolidated affiliates	0	0	0	0
(Loss) income before income taxes	(20)	89	169	132
Income tax expense	0	0	0	0
Net (loss) income	(20)	89	169	132
Net income attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to partners	(20)	89	169	132
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Operating revenues:
Sales of natural gas, NGLs and condensate	1,936	1,646	5,641	4,431
Transportation, processing and other	162	162	474	469
Trading and marketing (losses) gains, net	(43)	15	10	10
Total operating revenues	2,055	1,823	6,125	4,910
Purchases of natural gas and NGLs	1,695	1,437	4,939	3,866
Operating and maintenance expense	168	161	513	506
Depreciation and amortization expense	94	94	282	284
General and administrative expense	69	64	202	187
Impairment of Oil and Gas Properties	48		48
Gain on sale of assets, net		(41)	(34)	(35)
Restructuring costs		2		10
Other expense (income), net		14	15	(68)
Total operating costs and expenses	2,074	1,731	5,965	4,750
Operating (loss) income	(19)	92	160	160
Interest expense	0	0	0	0
(Loss) income from consolidated subsidiaries	0	0	0	0
Earnings from unconsolidated affiliates	74	75	234	214
(Loss) income before income taxes	55	167	394	374
Income tax expense	(2)	(1)	(5)	(6)
Net (loss) income	53	166	389	368
Net income attributable to noncontrolling interests	0	0	(1)	(1)
Net (loss) income attributable to partners	53	166	388	367
Consolidating Adjustments
Operating revenues:
Sales of natural gas, NGLs and condensate	0	0	0	0
Transportation, processing and other	0	0	0	0
Trading and marketing (losses) gains, net	0	0	0	0
Total operating revenues	0	0	0	0
Purchases of natural gas and NGLs	0	0	0	0
Operating and maintenance expense	0	0	0	0
Depreciation and amortization expense	0	0	0	0
General and administrative expense	0	0	0	0
Impairment of Oil and Gas Properties	0		0
Gain on sale of assets, net		0	0	0
Restructuring costs		0		0
Other expense (income), net		0	0	0
Total operating costs and expenses	0	0	0	0
Operating (loss) income	0	0	0	0
Interest expense	0	0	0	0
(Loss) income from consolidated subsidiaries	(33)	(255)	(557)	(499)
Earnings from unconsolidated affiliates	0	0	0	0
(Loss) income before income taxes	(33)	(255)	(557)	(499)
Income tax expense	0	0	0	0
Net (loss) income	(33)	(255)	(557)	(499)
Net income attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to partners	(33)	(255)	(557)	(499)
Intersegment Eliminations [Member]
Operating revenues:
Total operating revenues	(1,195)	(1,035)	(3,436)	(2,642)
Operating and maintenance expense	0	0	0	0
Depreciation and amortization expense	0	0	0	0
General and administrative expense	0	0	0	0
Gain on sale of assets, net		0	0	0
Restructuring costs		0		0
Other expense (income), net	0	0	0	0
Interest expense	0	0	0	0
Earnings from unconsolidated affiliates	0	0	0	0
Income tax expense	0	0	0	0
Net (loss) income	0	0	0	0
Net income attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to partners	$ 0	$ 0	$ 0	$ 0

Condensed Consolidating Financial Information - Condensed Consolidating Statement of Comprehensive Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Net income	$ (20)	$ 89	$ 170	$ 133
Other comprehensive income (loss):
Reclassification of cash flow hedge losses into earnings	0	0	1	0
Other comprehensive income from consolidated subsidiaries			0
Total other comprehensive income	0	0	1	0
Total comprehensive (loss) income	(20)	89	171	133
Total comprehensive income attributable to noncontrolling interests	0	0	(1)	(1)
Total comprehensive income attributable to partners	(20)	89	170	132
Reportable Legal Entities \| Parent Guarantor
Condensed Financial Statements, Captions [Line Items]
Net income	(20)	89	169	132
Other comprehensive income (loss):
Reclassification of cash flow hedge losses into earnings			0
Other comprehensive income from consolidated subsidiaries			1
Total other comprehensive income	0	0	1	0
Total comprehensive (loss) income	(20)	89	170	132
Total comprehensive income attributable to noncontrolling interests	0	0	0	0
Total comprehensive income attributable to partners	(20)	89	170	132
Reportable Legal Entities \| Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net income	(20)	89	169	132
Other comprehensive income (loss):
Reclassification of cash flow hedge losses into earnings			1
Other comprehensive income from consolidated subsidiaries			0
Total other comprehensive income	0	0	1	0
Total comprehensive (loss) income	(20)	89	170	132
Total comprehensive income attributable to noncontrolling interests	0	0	0	0
Total comprehensive income attributable to partners	(20)	89	170	132
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income	53	166	389	368
Other comprehensive income (loss):
Reclassification of cash flow hedge losses into earnings			0
Other comprehensive income from consolidated subsidiaries			0
Total other comprehensive income	0	0	0	0
Total comprehensive (loss) income	53	166	389	368
Total comprehensive income attributable to noncontrolling interests	0	0	(1)	(1)
Total comprehensive income attributable to partners	53	166	388	367
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net income	(33)	(255)	(557)	(499)
Other comprehensive income (loss):
Reclassification of cash flow hedge losses into earnings			0
Other comprehensive income from consolidated subsidiaries			(1)
Total other comprehensive income	0	0	(1)	0
Total comprehensive (loss) income	(33)	(255)	(558)	(499)
Total comprehensive income attributable to noncontrolling interests	0	0	0	0
Total comprehensive income attributable to partners	$ (33)	$ (255)	$ (558)	$ (499)

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Cash Flows (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities			$ 684	$ 521
INVESTING ACTIVITIES:
Intercompany transfers			0	0
Capital expenditures	$ (99)	$ (30)	(258)	(113)
Investments in unconsolidated affiliates	(29)	(11)	(70)	(38)
Proceeds from sale of assets			130	160
Net cash (used in) provided by investing activities			(198)	9
FINANCING ACTIVITIES:
Intercompany transfers			0	0
Proceeds from long-term debt			0	2,926
Payments of long-term debt			(195)	(3,216)
Net change in advances to predecessor from DCP Midstream, LLC			418	150
Distributions to limited partners and general partner			(390)	(362)
Distributions to noncontrolling interests			(6)	(6)
Other			(2)	(10)
Net cash used in financing activities			(175)	(518)
Net change in cash and cash equivalents			311	12
Cash and cash equivalents, beginning of period			1	3
Cash and cash equivalents, end of period	312	15	312	15
Reportable Legal Entities \| Parent Guarantor
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities			0	0
INVESTING ACTIVITIES:
Intercompany transfers			390	362
Capital expenditures			0	0
Investments in unconsolidated affiliates			0	0
Proceeds from sale of assets			0	0
Net cash (used in) provided by investing activities			390	362
FINANCING ACTIVITIES:
Intercompany transfers			0	0
Proceeds from long-term debt				0
Payments of long-term debt			0	0
Net change in advances to predecessor from DCP Midstream, LLC			0	0
Distributions to limited partners and general partner			(390)	(362)
Distributions to noncontrolling interests			0	0
Other			0	0
Net cash used in financing activities			(390)	(362)
Net change in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			0	0
Cash and cash equivalents, end of period	0	0	0	0
Reportable Legal Entities \| Subsidiary Issuer
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities			(217)	(244)
INVESTING ACTIVITIES:
Intercompany transfers			724	559
Capital expenditures			0	0
Investments in unconsolidated affiliates			0	0
Proceeds from sale of assets			0	0
Net cash (used in) provided by investing activities			724	559
FINANCING ACTIVITIES:
Intercompany transfers			0	0
Proceeds from long-term debt				2,926
Payments of long-term debt			(195)	(3,216)
Net change in advances to predecessor from DCP Midstream, LLC			0	0
Distributions to limited partners and general partner			0	0
Distributions to noncontrolling interests			0	0
Other			(2)	(10)
Net cash used in financing activities			(197)	(300)
Net change in cash and cash equivalents			310	15
Cash and cash equivalents, beginning of period			0	0
Cash and cash equivalents, end of period	310	15	310	15
Reportable Legal Entities \| Non-Guarantor Subsidiaries
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities			901	765
INVESTING ACTIVITIES:
Intercompany transfers			0	0
Capital expenditures			(258)	(113)
Investments in unconsolidated affiliates			(70)	(38)
Proceeds from sale of assets			130	160
Net cash (used in) provided by investing activities			(198)	9
FINANCING ACTIVITIES:
Intercompany transfers			(1,114)	(921)
Proceeds from long-term debt				0
Payments of long-term debt			0	0
Net change in advances to predecessor from DCP Midstream, LLC			418	150
Distributions to limited partners and general partner			0	0
Distributions to noncontrolling interests			(6)	(6)
Other			0	0
Net cash used in financing activities			(702)	(777)
Net change in cash and cash equivalents			1	(3)
Cash and cash equivalents, beginning of period			1	3
Cash and cash equivalents, end of period	2	0	2	0
Consolidating Adjustments
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities			0	0
INVESTING ACTIVITIES:
Intercompany transfers			(1,114)	(921)
Capital expenditures			0	0
Investments in unconsolidated affiliates			0	0
Proceeds from sale of assets			0	0
Net cash (used in) provided by investing activities			(1,114)	(921)
FINANCING ACTIVITIES:
Intercompany transfers			1,114	921
Proceeds from long-term debt				0
Payments of long-term debt			0	0
Net change in advances to predecessor from DCP Midstream, LLC			0	0
Distributions to limited partners and general partner			0	0
Distributions to noncontrolling interests			0	0
Other			0	0
Net cash used in financing activities			1,114	921
Net change in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			0	0
Cash and cash equivalents, end of period	$ 0	$ 0	$ 0	$ 0

Subsequent Events - Additional Information (Detail) - Subsequent Event - $ / shares	Nov. 14, 2017	Nov. 07, 2017	Oct. 19, 2017
Subsequent Event [Line Items]
Quarterly distribution (in dollars per share)			$ 0.78
Distribution payable date	Nov. 14, 2017
Distribution record date		Nov. 07, 2017

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 19, 2017, we announced that the board of directors of the General Partner declared a quarterly distribution of $0.78 per unit. The distribution is payable on November 14, 2017 to unitholders of record on November 7, 2017.

Condensed Consolidated Statements of Changes in Equity (Parenthetical)	9 Months Ended
	Sep. 30, 2017 shares
Limited Partners
Issuance of common units (in shares)	28,552,480
General Partner
Issuance of common units (in shares)	2,550,644

Condensed Consolidating Financial Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017
Parent Guarantor
Condensed Financial Statements, Captions [Line Items]
Ownership interest percentage in subsidiary	100.00%