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SEC Filings
10-Q
ENERGY TRANSFER, LP filed this Form 10-Q on 05/04/2017
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Intersegment and intrasegment transactions are generally based on transactions made at market-related rates. Consolidated revenues and expenses reflect the elimination of all material intercompany transactions.
Revenues from our intrastate transportation and storage segment are primarily reflected in natural gas sales and gathering, transportation and other fees. Revenues from our interstate transportation and storage segment are primarily reflected in gathering, transportation and other fees. Revenues from our midstream segment are primarily reflected in natural gas sales, NGL sales and gathering, transportation and other fees. Revenues from our liquids transportation and services segment are primarily reflected in NGL sales and gathering, transportation and other fees. Revenues from our investment in Sunoco Logistics segment are primarily reflected in crude sales. Revenues from our all other segment are primarily reflected in other.
We report Segment Adjusted EBITDA as a measure of segment performance. We define Segment Adjusted EBITDA as earnings before interest, taxes, depreciation, depletion, amortization and other non-cash items, such as non-cash compensation expense, gains and losses on disposals of assets, the allowance for equity funds used during construction, unrealized gains and losses on commodity risk management activities, non-cash impairment charges, losses on extinguishments of debt and other non-operating income or expense items. Unrealized gains and losses on commodity risk management activities include unrealized gains and losses on commodity derivatives and inventory fair value adjustments (excluding lower of cost or market adjustments). Segment Adjusted EBITDA reflects amounts for unconsolidated affiliates based on the Partnership’s proportionate ownership.
The following tables present financial information by segment:
 
Three Months Ended
March 31,
 
2017
 
2016
Revenues:
 
 
 
Intrastate transportation and storage:
 
 
 
Revenues from external customers
$
768

 
$
446

Intersegment revenues
48

 
112

 
816

 
558

Interstate transportation and storage:
 
 
 
Revenues from external customers
231

 
254

Intersegment revenues
4

 
5

 
235

 
259

Midstream:
 
 
 
Revenues from external customers
565

 
527

Intersegment revenues
1,072

 
565

 
1,637

 
1,092

Liquids transportation and services:
 
 
 
Revenues from external customers
1,508

 
829

Intersegment revenues
114

 
90

 
1,622

 
919

Investment in Sunoco Logistics:
 
 
 
Revenues from external customers
3,185

 
1,729

Intersegment revenues
34

 
48

 
3,219

 
1,777

All other:
 
 
 
Revenues from external customers
638

 
696

Intersegment revenues
132

 
158

 
770

 
854

Eliminations
(1,404
)
 
(978
)
Total revenues
$
6,895

 
$
4,481



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