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SEC Filings
10-Q
ENERGY TRANSFER, LP filed this Form 10-Q on 05/04/2017
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partnership purposes. In connection with the merger of ETP and Sunoco Logistics in April 2017, the equity distribution agreement was terminated.
During the three months ended March 31, 2017, distributions of $71 million were reinvested under the distribution reinvestment plan. In connection with the merger of ETP and Sunoco Logistics in April 2017, the distribution reinvestment plan was terminated.
Sunoco Logistics
There was no activity under the Sunoco Logistics equity distribution agreement for the three months ended March 31, 2017.
January 2017 Private Placement
In January 2017, the Partnership sold 15.8 million ETP Common Units to ETE in a private placement transaction for gross proceeds of approximately $568 million.
Bakken Equity Sale
As discussed in Note 2, in February 2017, Bakken Holdings Company LLC sold a 49% interest in its wholly-owned subsidiary, Bakken Pipeline Investments LLC, for $2.00 billion in cash. ETP continues to consolidate Dakota Access and ETCO subsequent to this transaction. As a result of the sale, ETP recorded a deemed contribution of $1.26 billion during the three months ended March 31, 2017, representing the difference between proceeds from the sale and the proportionate share of the book value of the subsidiary, which was allocated to noncontrolling interest.
Quarterly Distributions of Available Cash
Following the merger of ETP and Sunoco Logistics in April 2017, we no longer have outstanding common units; therefore, we no longer declare quarterly distributions. The partnership agreement of Post-Merger ETP includes distribution provisions similar to those of ETP prior to the merger.
For the quarter ended December 31, 2016, ETP and Sunoco Logistics paid distributions on February 14, 2017 of $1.0550 and $0.52, respectively, per common unit. For the quarter ended March 31, 2017, Post-Merger ETP declared a distribution of $0.5350 per common unit, payable on May 15, 2017 to unitholders of record on May 10, 2017.
PennTex Quarterly Distributions of Available Cash
PennTex is required by its partnership agreement to distribute a minimum quarterly distribution of $0.2750 per unit at the end of each quarter. Following are distributions declared and/or paid by PennTex subsequent to December 31, 2016:
Quarter Ended
 
Record Date
 
Payment Date
 
Rate
December 31, 2016
 
February 7, 2017
 
February 14, 2017
 
$
0.2950

March 31, 2017
 
May 5, 2017
 
May 12, 2017
 
0.2950

Accumulated Other Comprehensive Income
The following table presents the components of AOCI, net of tax:
 
March 31, 2017
 
December 31, 2016
Available-for-sale securities
$
4

 
$
2

Foreign currency translation adjustment
(5
)
 
(5
)
Actuarial gain related to pensions and other postretirement benefits
5

 
7

Investments in unconsolidated affiliates, net
4

 
4

Total AOCI, net of tax
$
8

 
$
8



16

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