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SEC Filings
8-K
SOUTHERN UNION CO filed this Form 8-K on 05/08/2013
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SUPPLEMENTAL INFORMATION
(Dollars in millions)
(unaudited)
 
Three Months Ended March 31,
 
2013
 
2012 (b) (c)
Reconciliation of net income to Adjusted EBITDA and Distributable Cash Flow (a):
 
 
 
Net income
$
424

 
$
1,088

Interest expense, net of interest capitalized
211

 
141

Gain on deconsolidation of Propane Business

 
(1,056
)
Income tax expense
3

 
2

Depreciation and amortization
260

 
99

Non-cash compensation expense
14

 
11

Gains on interest rate derivatives
(7
)
 
(28
)
Unrealized (gains) losses on commodity risk management activities
(19
)
 
86

LIFO valuation adjustment
(38
)
 

Loss on extinguishment of debt

 
115

Adjusted EBITDA related to unconsolidated affiliates
165

 
99

Equity in earnings of unconsolidated affiliates
(72
)
 
(55
)
Other, net
15

 
(8
)
Adjusted EBITDA
956

 
494

Adjusted EBITDA related to unconsolidated affiliates
(165
)
 
(99
)
Distributions from unconsolidated affiliates
95

 
42

Interest expense, net of interest capitalized
(211
)
 
(141
)
Income tax expense
(3
)
 
(2
)
Maintenance capital expenditures
(51
)
 
(24
)
Other, net
1

 
1

Distributable Cash Flow
$
622

 
$
271

 
 
 
 
Distributions to be paid to the partners of ETP (d):
 
 
 
Limited Partners:
 
 
 
Common units held by ETE
$
45

 
$
45

Common units held by public
241

 
160

General Partner interest held by ETE
5

 
5

Incentive Distribution Rights (“IDR”) held by ETE
156

 
114

 
447

 
324

IDR relinquishment related to previous acquisitions
(31
)
 
(14
)
Total distributions to be paid to the partners of ETP
416

 
310

 
 
 
 
Distributions to be paid to noncontrolling interests:
 
 
 
Distributions to ETE in respect of Holdco (e)
50

 

Distributions to Regency in respect of Lone Star (f)
23

 
11

Distributions to Sunoco Logistics unitholders (common units held by public) (g)
40

 

Total distributions to be paid to noncontrolling interests
113

 
11

Total distributions to be paid to the partners of ETP and noncontrolling interests
$
529

 
$
321

 
 
 
 

5

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