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SEC Filings
10-Q
ENERGY TRANSFER, LP filed this Form 10-Q on 05/04/2017
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ENERGY TRANSFER, LP AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in millions)
(unaudited)
 
Three Months Ended
March 31,
 
2017
 
2016
OPERATING ACTIVITIES
 
 
 
Net income
$
364

 
$
376

Reconciliation of net income to net cash provided by operating activities:
 
 
 
Depreciation, depletion and amortization
560

 
470

Deferred income taxes
54

 
(57
)
Amortization included in interest expense
(1
)
 
(7
)
Inventory valuation adjustments
(2
)
 
26

Unit-based compensation expense
23

 
19

Distributions on unvested awards
(8
)
 
(7
)
Equity in earnings of unconsolidated affiliates
(73
)
 
(76
)
Distributions from unconsolidated affiliates
82

 
84

Other non-cash
(52
)
 
(12
)
Net change in operating assets and liabilities, net of effects of acquisition
(15
)
 
144

Net cash provided by operating activities
932

 
960

INVESTING ACTIVITIES
 
 
 
Proceeds from Bakken Pipeline Transaction
2,000

 

Proceeds from the Sunoco, Inc. retail business to Sunoco LP transaction

 
2,200

Cash paid for all other acquisitions
(318
)
 

Capital expenditures, excluding allowance for equity funds used during construction
(1,384
)
 
(1,819
)
Contributions in aid of construction costs
6

 
10

Contributions to unconsolidated affiliates
(111
)
 
(31
)
Distributions from unconsolidated affiliates in excess of cumulative earnings
90

 
51

Proceeds from the sale of assets

 
8

Change in restricted cash

 
(1
)
Other
(3
)
 
(3
)
Net cash provided by investing activities
280

 
415

FINANCING ACTIVITIES
 
 
 
Proceeds from borrowings
6,366

 
2,938

Repayments of long-term debt
(7,216
)
 
(3,914
)
Cash paid on affiliate notes
(250
)
 
(10
)
Units issued for cash
826

 
363

Subsidiary units issued for cash

 
301

Capital contributions from noncontrolling interest
106

 
132

Distributions to partners
(896
)
 
(897
)
Distributions to noncontrolling interest
(148
)
 
(100
)
Redemption of Series A Preferred Units
(53
)
 

Debt issuance costs
(19
)
 

Other
3

 

Net cash used in financing activities
(1,281
)
 
(1,187
)
Increase (decrease) in cash and cash equivalents
(69
)
 
188

Cash and cash equivalents, beginning of period
360

 
527

Cash and cash equivalents, end of period
$
291

 
$
715


The accompanying notes are an integral part of these consolidated financial statements.
6

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