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SEC Filings
10-Q
ENERGY TRANSFER, LP filed this Form 10-Q on 08/09/2017
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ENERGY TRANSFER, LP AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in millions)
(unaudited)
 
Six Months Ended
June 30,
 
2017
 
2016
OPERATING ACTIVITIES
 
 
 
Net income
$
714

 
$
848

Reconciliation of net income to net cash provided by operating activities:
 
 
 
Depreciation, depletion and amortization
1,033

 
966

Deferred income taxes
122

 
(79
)
Amortization included in interest expense
(1
)
 
(12
)
Inventory valuation adjustments
2

 
(106
)
Unit-based compensation expense
37

 
38

Distributions on unvested awards
(15
)
 
(13
)
Equity in earnings of unconsolidated affiliates
(96
)
 
(195
)
Distributions from unconsolidated affiliates
353

 
199

Other non-cash
(135
)
 
(124
)
Net change in operating assets and liabilities, net of effects of acquisition
(942
)
 
(96
)
Net cash provided by operating activities
1,072

 
1,426

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 acquisition of PennTex noncontrolling interest
(280
)
 

Cash paid for all other acquisitions
(251
)
 

Deconsolidation of Sunoco Logistics
(75
)
 

Capital expenditures, excluding allowance for equity funds used during construction
(2,844
)
 
(3,479
)
Contributions in aid of construction costs
10

 
25

Contributions to unconsolidated affiliates
(225
)
 
(31
)
Distributions from unconsolidated affiliates in excess of cumulative earnings
95

 
56

Proceeds from the sale of assets
23

 
7

Change in restricted cash

 
(2
)
Other
(2
)
 
(1
)
Net cash used in investing activities
(1,549
)
 
(1,225
)
FINANCING ACTIVITIES
 
 
 
Proceeds from borrowings
11,330

 
7,811

Repayments of long-term debt
(10,953
)
 
(7,514
)
Cash (paid) received from affiliate notes
(255
)
 
147

Units issued for cash
885

 
408

Subsidiary units issued for cash

 
667

Capital contributions from noncontrolling interest
444

 
161

Distributions to partners
(889
)
 
(1,813
)
Distributions to noncontrolling interest
(167
)
 
(209
)
Redemption of Series A Preferred Units
(53
)
 

Debt issuance costs
(20
)
 

Other
4

 

Net cash provided by (used in) financing activities
326

 
(342
)
Decrease in cash and cash equivalents
(151
)
 
(141
)
Cash and cash equivalents, beginning of period
360

 
527

Cash and cash equivalents, end of period
$
209

 
$
386


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

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