ENERGY TRANSFER PARTNERS, L.P. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per unit data) (unaudited)
| | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2013 | | 2012(1) | | 2013 | | 2012(1) | REVENUES | $ | 11,551 |
| | $ | 1,596 |
| | $ | 22,405 |
| | $ | 2,919 |
| COSTS AND EXPENSES: | | | | | | | | Cost of products sold | 10,229 |
| | 799 |
| | 19,823 |
| | 1,580 |
| Operating expenses | 315 |
| | 196 |
| | 619 |
| | 326 |
| Depreciation and amortization | 251 |
| | 158 |
| | 511 |
| | 257 |
| Selling, general and administrative | 124 |
| | 86 |
| | 286 |
| | 190 |
| Total costs and expenses | 10,919 |
| | 1,239 |
| | 21,239 |
| | 2,353 |
| OPERATING INCOME | 632 |
| | 357 |
| | 1,166 |
| | 566 |
| OTHER INCOME (EXPENSE): | | | | | | | | Interest expense, net of interest capitalized | (211 | ) | | (191 | ) | | (422 | ) | | (332 | ) | Equity in earnings of unconsolidated affiliates | 37 |
| | 1 |
| | 109 |
| | 56 |
| Gain on deconsolidation of Propane Business | — |
| | 1 |
| | — |
| | 1,057 |
| Loss on extinguishment of debt | — |
| | — |
| | — |
| | (115 | ) | Gains (losses) on interest rate derivatives | 39 |
| | (37 | ) | | 46 |
| | (9 | ) | Other, net | (4 | ) | | 4 |
| | (1 | ) | | 3 |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE | 493 |
| | 135 |
| | 898 |
| | 1,226 |
| Income tax expense from continuing operations | 89 |
| | 7 |
| | 92 |
| | 9 |
| INCOME FROM CONTINUING OPERATIONS | 404 |
| | 128 |
| | 806 |
| | 1,217 |
| Income from discontinued operations | 9 |
| | 7 |
| | 31 |
| | 6 |
| NET INCOME | 413 |
| | 135 |
| | 837 |
| | 1,223 |
| LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST | 93 |
| | 24 |
| | 195 |
| | (3 | ) | NET INCOME ATTRIBUTABLE TO PARTNERS | 320 |
| | 111 |
| | 642 |
| | 1,226 |
| GENERAL PARTNER’S INTEREST IN NET INCOME | 155 |
| | 109 |
| | 283 |
| | 226 |
| LIMITED PARTNERS’ INTEREST IN NET INCOME | $ | 165 |
| | $ | 2 |
| | $ | 359 |
| | $ | 1,000 |
| INCOME (LOSS) FROM CONTINUING OPERATIONS PER LIMITED PARTNER UNIT: | | | | | | | | Basic | $ | 0.52 |
| | $ | (0.03 | ) | | $ | 1.04 |
| | $ | 4.32 |
| Diluted | $ | 0.52 |
| | $ | (0.03 | ) | | $ | 1.04 |
| | $ | 4.30 |
| NET INCOME PER LIMITED PARTNER UNIT: | | | | | | | | Basic | $ | 0.53 |
| | $ | 0.00 |
| | $ | 1.08 |
| | $ | 4.35 |
| Diluted | $ | 0.53 |
| | $ | 0.00 |
| | $ | 1.08 |
| | $ | 4.33 |
| WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING: | | | | | | | | Basic | 352.6 |
| | 229.7 |
| | 326.9 |
| | 228.1 |
| Diluted | 353.8 |
| | 229.7 |
| | 328.1 |
| | 229.1 |
|
| | (1) | In accordance with generally accepted accounting principles, amounts previously reported for interim periods in 2012 have been revised to reflect the retrospective consolidation of Southern Union into ETP as a result of the Holdco Transaction as the transfer of Southern Union into Holdco met the definition of a transaction between entities under common control. Thus, Southern Union was retroactively consolidated beginning March 26, 2012, the date that ETE completed its merger with Southern Union. |
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