ONEOK INC NEW
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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Sep 30, 2024 · Filed Oct 30, 2024
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IUnconsolidated Affiliates
Equity in Net Earnings from Investments-The following table sets forth our equity in net earnings from investments for the periods indicated:
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| Sept. 30, | Sept. 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| (Millions of dollars) | ||||
| Northern Border | $25 | $20 | $72 | $58 |
| Overland Pass | 23 | 17 | 61 | 39 |
| Saddlehorn | 13 | — | 36 | — |
| Roadrunner | 9 | 10 | 30 | 32 |
| BridgeTex | 7 | — | 25 | — |
| MVP | 3 | — | 10 | — |
| Other | 12 | 2 | 22 | 3 |
| Equity in net earnings from investments | $92 | $49 | $256 | $132 |
In March 2024, we purchased an additional 10% interest in Saddlehorn, resulting in a 40% ownership interest.
We incurred expenses in transactions with unconsolidated affiliates of $54 million and $33 million for the three months ended Sept. 30, 2024 and 2023, respectively, and $149 million and $88 million for the nine months ended Sept. 30, 2024 and 2023, respectively, related primarily to Overland Pass and Northern Border. Revenue earned and accounts receivable from, and accounts payable to, our unconsolidated affiliates were not material.
We are the operator of Roadrunner, BridgeTex, MVP and Saddlehorn. In each case, we have operating agreements that provide for reimbursement or payment to us for management services and certain operating costs. Reimbursements and payments included in operating income in our Consolidated Statements of Income for all periods presented were not material.
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