Energy Transfer
SEC Filings
8-K
ENERGY TRANSFER EQUITY, L.P. filed this Form 8-K on 05/03/2017
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ENERGY TRANSFER EQUITY, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per unit data)
(unaudited)
 
Three Months Ended
March 31,
 
2017
 
2016
REVENUES
$
11,247

 
$
7,695

COSTS AND EXPENSES:
 
 
 
Cost of products sold
8,991

 
5,623

Operating expenses
673

 
641

Depreciation, depletion and amortization
661

 
562

Selling, general and administrative
197

 
168

Total costs and expenses
10,522

 
6,994

OPERATING INCOME
725

 
701

OTHER INCOME (EXPENSE):
 
 
 
Interest expense, net of interest capitalized
(486
)
 
(427
)
Equity in earnings of unconsolidated affiliates
87

 
61

Losses on extinguishments of debt
(25
)
 

Gains (losses) on interest rate derivatives
5

 
(70
)
Other, net
19

 
16

INCOME BEFORE INCOME TAX EXPENSE (BENEFIT)
325

 
281

Income tax expense (benefit)
35

 
(55
)
NET INCOME
290

 
336

Less: Net income attributable to noncontrolling interest
51

 
24

NET INCOME ATTRIBUTABLE TO PARTNERS
239

 
312

General Partner’s interest in net income
1

 
1

Convertible Unitholders’ interest in income
6

 

Limited Partners’ interest in net income
$
232

 
$
311

NET INCOME PER LIMITED PARTNER UNIT:
 
 
 
Basic
$
0.22

 
$
0.30

Diluted
$
0.21

 
$
0.30

WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING:
 
 
 
Basic
1,075.2

 
1,044.8

Diluted
1,139.0

 
1,044.8


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