Author: Ron Hiram
Published: Mar 5, 2012
A breakdown by quarter of the numbers in the report titled “A Closer Look at Enterprise Products Partners’ 2011 Distributable Cash Flow” is presented below:
3 months ended: | 12/31/2011 | 9/30/2011 | 6/30/2011 | 3/31/2011 | 12/31/2010 |
|---|---|---|---|---|---|
| Net cash provided by operating activities | 1,102.3 | 473.7 | 951.8 | 802.7 | 856.2 |
| Less: Maintenance capital expenditures | (78.6) | (81.2) | (83.9) | (52.7) | (62.9) |
| Less: Working capital (generated) | (205.3) | - | (241.4) | (120.0) | (221.4) |
| Less: Net income attributable to noncontrolling interests | (4.7) | (8.1) | (14.8) | (13.8) | (129.5) |
| Sustainable DCF | 813.7 | 384.4 | 611.7 | 616.2 | 442.4 |
| Add: Net income attributable to noncontrolling interests | 4.7 | 8.1 | 14.8 | 13.8 | 129.5 |
| Working capital used | - | 299.8 | - | - | - |
| Risk management activities | - | (17.5) | 1.5 | (4.2) | - |
| Proceeds from sale of assets / disposal of liabilities | 596.7 | 190.0 | 166.3 | 84.2 | 16.3 |
| Other | (5.7) | (8.9) | (16.8) | (16.3) | (17.0) |
| DCF as reported | 1,409.4 | 855.9 | 777.5 | 693.7 | 571.2 |
Figures in $ Millions
3 months ending: | 12/31/2011 | 9/30/2011 | 6/30/2011 | 3/31/2011 | 12/31/2010 |
|---|---|---|---|---|---|
| Distributions to unitholders ($ Millions) | 523.3 | 510.4 | 504.4 | 496.9 | 459.5 |
| DCF as reported | 1,409.4 | 855.9 | 777.5 | 693.7 | 571.2 |
| Sustainable DCF | 813.7 | 384.4 | 611.7 | 616.2 | 442.4 |
| DCF coverage as reported | 2.69 | 1.68 | 1.54 | 1.40 | 1.24 |
| DCF coverage of sustainable DCF | 1.55 | 0.75 | 1.21 | 1.24 | 0.96 |
3 months ending: | 12/31/2011 | 9/30/2011 | 6/30/2011 | 3/31/2011 | 12/31/2010 |
|---|---|---|---|---|---|
| Net cash from operations, less maintenance capex, less net income from non-controlling interests, less distributions | - | (117.9) | - | - | - |
| Capital expenditures ex maintenance, net of proceeds from sale of PP&E | (996.7) | (994.8) | (918.8) | (660.8) | (572.8) |
| Acquisitions, investments (net of sale proceeds) | 593.3 | 190.0 | 166.3 | 84.2 | (64.6) |
| Debt incurred (repaid) | (628.30) | - | - | - | (221.50) |
| Other CF from investing activities, net | - | - | - | (97.1) | (49.8) |
| Other CF from financing activities, net | (0.6) | (18.1) | (0.3) | (9.6) | (0.7) |
| (1,032.3) | (940.8) | (752.8) | (683.3) | (909.4) | |
| Net cash from operations, less maintenance capex, less net income from non-controlling interests, less distributions | 500.4 | - | 363.5 | 253.1 | 333.8 |
| Cash contributions/distributions related to affiliates & noncontrolling interests | 3.8 | 2.1 | 1.3 | 1.3 | 69.3 |
| Debt incurred (repaid) | - | 797.1 | 252.0 | 492.8 | - |
| Partnership units issued | 475.8 | 22.0 | 24.1 | 21.0 | 528.5 |
| Other CF from investing activities, net | 43.0 | 39.6 | 70.6 | - | - |
| 1,023.0 | 860.8 | 711.5 | 768.2 | 931.6 | |
| Net change in cash | (9.3) | (80.0) | (41.3) | 84.9 | 22.2 |
Figures in $ Millions
[...] EPD: Enterprise Products Partners – Quarterly DCF Data (as of 4Q11) [...]