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SEC Filings
8-K
ENERGY TRANSFER, LP filed this Form 8-K on 05/03/2017
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SUPPLEMENTAL INFORMATION
(Dollars and units in millions)
(unaudited)
 
Actual (1)
 
 
 
 
 
ETP
 
Sunoco Logistics
 
Pro Forma for Merger
 
Three Months Ended
March 31,
 
Three Months Ended
March 31,
 
Three Months Ended
March 31,
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Reconciliation of net income to Adjusted EBITDA and Distributable Cash Flow (a):
 
 
 
 
 
 
 
 
 
 
 
Net income
$
364

 
$
376

 
$
595

 
$
146

 
$
364

 
$
376

Interest expense, net
339

 
319

 
40

 
39

 
339

 
319

Income tax expense (benefit)
55

 
(58
)
 
10

 
5

 
55

 
(58
)
Depreciation, depletion and amortization
560

 
470

 
125

 
106

 
560

 
470

Non-cash compensation expense
23

 
19

 
6

 
5

 
23

 
19

(Gains) losses on interest rate derivatives
(5
)
 
70

 

 

 
(5
)
 
70

Unrealized (gains) losses on commodity risk management activities
(64
)
 
63

 
(24
)
 
13

 
(64
)
 
63

Inventory valuation adjustments
(2
)
 
26

 
(2
)
 
26

 
(2
)
 
26

Equity in earnings of unconsolidated affiliates
(73
)
 
(76
)
 
(9
)
 
(8
)
 
(73
)
 
(76
)
Adjusted EBITDA related to unconsolidated affiliates
239

 
219

 
19

 
16

 
239

 
219

Gain on sale of investment in affiliate

 

 
(483
)
 

 

 

Other, net
(22
)
 
(16
)
 
1

 
1

 
(22
)
 
(16
)
Adjusted EBITDA (consolidated)
1,414

 
1,412

 
278

 
349

 
1,414

 
1,412

Adjusted EBITDA related to unconsolidated affiliates
(239
)
 
(219
)
 
(19
)
 
(16
)
 
(239
)
 
(219
)
Distributable cash flow from unconsolidated affiliates
144

 
144

 
11

 
8

 
144

 
144

Interest expense, net
(339
)
 
(319
)
 
(40
)
 
(39
)
 
(339
)
 
(319
)
Amortization included in interest expense
(1
)
 
(7
)
 

 

 
(1
)
 
(7
)
Current income tax (expense) benefit
(1
)
 
1

 
(11
)
 
(5
)
 
(1
)
 
1

Maintenance capital expenditures
(60
)
 
(59
)
 
(13
)
 
(13
)
 
(60
)
 
(59
)
Other, net
16

 
3

 
(1
)
 

 
16

 
3

Distributable Cash Flow (consolidated)
934

 
956

 
205

 
284

 
934

 
956

Distributable Cash Flow attributable to Sunoco Logistics (100%)
(194
)
 
(283
)
 
N/A

 
N/A

 
N/A

 
N/A

Distributions from Sunoco Logistics to ETP
139

 
125

 
N/A

 
N/A

 
N/A

 
N/A

Distributable Cash Flow attributable to PennTex Midstream Partners, LP (100%)
(19
)
 

 
N/A

 
N/A

 
(19
)
 

Distributions from PennTex Midstream Partners, LP to ETP (b)
8

 

 
N/A

 
N/A

 
8

 

Distributable cash flow attributable to noncontrolling interest in other consolidated subsidiaries
(12
)
 
(7
)
 
(11
)
 
(1
)
 
(23
)
 
(8
)
Distributable Cash Flow attributable to the partners of ETP
856

 
791

 
194

 
283

 
900

 
948

Transaction-related expenses
3

 
2

 
4

 

 
7

 
2

Distributable Cash Flow attributable to the partners of ETP, as adjusted
$
859

 
$
793

 
$
198

 
$
283

 
$
907

 
$
950

(1) 
Reflects pre-merger results for ETP and Sunoco Logistics.

5

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