Print Page | Close Window
SEC Filings
8-K
PANHANDLE EASTERN PIPE LINE CO LP filed this Form 8-K on 08/08/2018
Entire Document
 << Previous Page | Next Page >>


SUPPLEMENTAL INFORMATION
(Dollars and units in millions)
(unaudited)
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2018
 
2017 (a)(b)
 
2018
 
2017 (a)(b)
Reconciliation of net income to Adjusted EBITDA and Distributable Cash Flow (c):
 
 
 
 
 
 
 
Net income
$
602

 
$
296

 
$
1,481

 
$
689

Interest expense, net
358

 
336

 
704

 
668

Income tax expense
69

 
79

 
29

 
134

Depreciation, depletion and amortization
588

 
557

 
1,191

 
1,117

Non-cash compensation expense
21

 
15

 
41

 
38

(Gains) losses on interest rate derivatives
(20
)
 
25

 
(72
)
 
20

Unrealized (gains) losses on commodity risk management activities
265

 
(34
)
 
352

 
(98
)
Gain on Sunoco LP common unit repurchase

 

 
(172
)
 

Loss on deconsolidation of CDM
86

 

 
86

 

Equity in (earnings) losses of unconsolidated affiliates
(106
)
 
61

 
(34
)
 
(12
)
Adjusted EBITDA related to unconsolidated affiliates
228

 
247

 
413

 
486

Other, net
(40
)
 
(37
)
 
(87
)
 
(52
)
Adjusted EBITDA (consolidated)
2,051

 
1,545

 
3,932

 
2,990

Adjusted EBITDA related to unconsolidated affiliates
(228
)
 
(247
)
 
(413
)
 
(486
)
Distributable cash flow from unconsolidated affiliates
141

 
123

 
266

 
267

Interest expense, net
(358
)
 
(336
)
 
(704
)
 
(668
)
Preferred unitholders’ distributions
(30
)
 

 
(54
)
 

Current income tax (expense) benefit
22

 
(12
)
 
22

 
(13
)
Maintenance capital expenditures
(116
)
 
(107
)
 
(204
)
 
(167
)
Other, net
5

 
12

 
8

 
27

Distributable Cash Flow (consolidated)
1,487

 
978

 
2,853

 
1,950

Distributable Cash Flow attributable to PennTex Midstream Partners, LP (“PennTex”) (100%) (d)

 

 

 
(19
)
Distributions from PennTex to ETP (d)

 

 

 
8

Distributable cash flow attributable to noncontrolling interest in other non-wholly-owned consolidated subsidiaries
(180
)
 
(57
)
 
(327
)
 
(80
)
Distributable Cash Flow attributable to the partners of ETP
1,307

 
921

 
2,526

 
1,859

Transaction-related expenses
10

 
25

 
14

 
32

Distributable Cash Flow attributable to the partners of ETP, as adjusted
$
1,317

 
$
946

 
$
2,540

 
$
1,891

 
 
 
 
 
 
 
 
Distributions to partners:
 
 
 
 
 
 
 
Limited Partners:
 
 
 
 
 
 
 
Common Units held by public
$
644

 
$
589

 
$
1,286

 
$
1,156

Common Units held by parent
15

 
15

 
31

 
30

General Partner interests and Incentive Distribution Rights (“IDRs”) held by parent
451

 
400

 
900

 
781

IDR relinquishments
(42
)
 
(162
)
 
(84
)
 
(319
)
Total distributions to be paid to partners
$
1,068

 
$
842

 
$
2,133

 
$
1,648

Common Units outstanding – end of period
1,166.4

 
1,092.6

 
1,166.4

 
1,092.6

Distribution coverage ratio (e)
1.23x

 
1.12x

 
1.19x

 
1.15x


5

 << Previous Page | Next Page >>