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SEC Filings
10-Q
ENERGY TRANSFER, LP filed this Form 10-Q on 11/08/2017
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2.
ACQUISITIONS AND CONTRIBUTION TRANSACTIONS
Rover Contribution Agreement
In July 2017, ETP announced that it had entered into a contribution agreement with a fund managed by Blackstone Energy Partners and Blackstone Capital Partners (“Blackstone”), for the purchase by Blackstone of a 49.9% interest in the holding company that owns 65% of the Rover pipeline (“Rover Holdco”). The agreement with Blackstone required Blackstone to contribute, at closing, funds to reimburse ETP for its pro rata share of the Rover construction costs incurred by ETP through the closing date, along with the payment of additional amounts subject to certain adjustments. The transaction closed in October 2017.  As a result of this closing, Rover Holdco is now owned 50.1% by ETP and 49.9% by Blackstone.
West Texas Gulf Pipe Line Contribution
In August 2017, certain wholly-owned subsidiaries of ETP contributed their equity ownership of West Texas Gulf Pipe Line (“WTG”) Company to ETP Holdco. This contribution is considered a transaction between commonly controlled entities and therefore no gain or loss was recognized as a result of the contribution. The months of May and June 2017 have been retrospectively restated to include WTG.
3.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include all cash on hand, demand deposits, and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.
We place our cash deposits and temporary cash investments with high credit quality financial institutions. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limit.
The net change in operating assets and liabilities (net of effects of acquisitions and deconsolidations) included in cash flows from operating activities is comprised as follows:
 
Nine Months Ended
September 30,
 
2017
 
2016
Accounts receivable
$
(547
)
 
$
(595
)
Accounts receivable from related companies
(580
)
 
80

Inventories
106

 
(299
)
Other current assets
76

 
(135
)
Other non-current assets, net
(58
)
 
(1
)
Accounts payable
305

 
635

Accounts payable to related companies
133

 
24

Accrued and other current liabilities
177

 
213

Other non-current liabilities
74

 
31

Derivative assets and liabilities, net
(23
)
 
219

Net change in operating assets and liabilities, net of effects of acquisitions and deconsolidations
$
(337
)
 
$
172



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