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.
SUPPLEMENTAL INFORMATION
(In millions)
(unaudited)
 
Three Months Ended
March 31,
 
2017
 
2016
Cash distributions from ETP associated with: (1) 
 
 
 
Limited partner interest
$
15

 
$
3

Class H Units

 
83

General partner interest
4

 
8

Incentive distribution rights
377

 
331

IDR relinquishments, net of distributions on Class I Units (2)
(157
)
 
(34
)
Total cash distributions from ETP
239

 
391

Cash distributions from Sunoco LP
23

 
21

Total cash distributions from investments in subsidiaries
$
262

 
$
412

 
 
 
 
Distributable cash flow attributable to Lake Charles LNG:
 
 
 
Revenues
$
49

 
$
49

Operating expenses
(5
)
 
(4
)
Selling, general and administrative expenses

 
(1
)
Distributable cash flow attributable to Lake Charles LNG
$
44

 
$
44

 
 
 
 
Expenses of the Parent Company on a cash basis:
 
 
 
Selling, general and administrative expenses, excluding certain non-cash expenses
$
8

 
$
31

Management fee to ETP (3)
5

 
24

Interest expense, net of amortization of financing costs, interest income, and realized gains and losses on interest rate swaps
81

 
78

Total Parent Company expenses
$
94

 
$
133

 


 


Cash distributions to be paid to the partners of ETE:
 
 
 
Distributions to be paid to limited partners (4)
$
250

 
$
240

Distributions to be paid to general partner
1

 
1

Total cash distributions to be paid to the partners of ETE
$
251

 
$
241

 
 
 
 
Common units outstanding — end of period
1,079.1

 
1,044.8

_________________
(1) 
Following the merger of ETP and Sunoco Logistics in April 2017, the Post-Merger ETP partnership agreement contains distribution requirements consistent with those of Sunoco Logistics prior to the merger.
(2) 
IDR relinquishments for the three months ended March 31, 2017 include the impact of incentive distribution reductions agreed to between ETE and ETP in addition to incentive distribution reductions previously agreed to between ETP and Sunoco Logistics.
(3) 
In exchange for management services, ETE agreed to pay ETP certain fees during the periods presented. These agreements have expired as of March 31, 2017.
(4) 
Includes distributions of $0.11 per common unit for the three months ended March 31, 2017 to unitholders who elected to participate in a plan to forgo a portion of their future potential cash distributions on common units for a period of up to nine fiscal quarters, commencing with the distributions for the quarter ended March 31, 2016, and reinvest those distributions in the Convertible Units representing limited partner interest in the Partnership.

5

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