A breakdown by quarter of the numbers in the report titled “ETP: A Closer Look at Energy Transfer Partners’ 2011 Distributable Cash Flow” is presented below:
3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M |
|
|---|---|---|---|---|---|---|---|---|
| 12/31/11 | 9/30/11 | 6/30/11 | 3/31/11 | 12/31/10 | 9/30/10 | 6/30/10 | 3/31/10 | |
| Net cash provided by operating activities | 314.2 | 390.8 | 348.9 | 290.6 | 99.4 | 218.9 | 383.2 | 500.8 |
| Less: Maintenance capital expenditures | (53.6) | (31.4) | (29.5) | (19.6) | (29.0) | (26.4) | (24.2) | (19.6) |
| Less: Working capital (generated) | - | (187.5) | (79.4) | - | - | (12.6) | (176.2) | (155.8) |
| Less: net income attributable to GP | ||||||||
| Less: Net income attributable to noncontrolling interests | (10.5) | (9.3) | (8.4) | - | - | - | - | - |
| Sustainable DCF | 250.0 | 162.6 | 231.6 | 271.0 | 70.4 | 179.8 | 182.8 | 325.3 |
| Add: Net income attributable to noncontrolling interests | 10.5 | 9.3 | 8.4 | - | - | - | - | - |
| Working capital used | 29.4 | - | - | 71.8 | 219.4 | - | - | - |
| Risk management activities | 25.3 | 75.0 | (2.7) | (8.9) | (9.0) | (19.8) | 16.7 | 59.3 |
| Proceeds from sale of assets / disposal of liabilities | (3.2) | 1.0 | 2.3 | - | (0.2) | (0.3) | 0.5 | - |
| Other | (1.6) | 18.3 | (16.3) | 3.2 | 3.8 | 0.8 | 0.0 | 0.0 |
| DCF as reported | 310.4 | 266.1 | 223.3 | 337.1 | 284.4 | 160.5 | 200.0 | 384.6 |
Figures in $ Millions
3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M |
|
|---|---|---|---|---|---|---|---|---|
| 12/31/2011 | 9/30/2011 | 6/30/2011 | 3/31/2011 | 12/31/2010 | 9/30/2010 | 6/30/2010 | 3/31/2010 | |
| Distributions to unitholders ($ Millions) | 295.9 | 294.9 | 294.4 | 274.2 | 271.2 | 256.2 | 270.7 | 267.9 |
| Coverage ratio based on reported DCF | 1.05 | 0.90 | 0.76 | 1.23 | 1.05 | 0.63 | 0.74 | 1.44 |
| Coverage ratio based on sustainable DCF | 0.84 | 0.55 | 0.79 | 0.99 | 0.26 | 0.70 | 0.68 | 1.21 |
3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M |
|
|---|---|---|---|---|---|---|---|---|
| 12/31/2011 | 9/30/2011 | 6/30/2011 | 3/31/2011 | 12/31/2010 | 9/30/2010 | 6/30/2010 | 3/31/2010 | |
| Net cash from operations, less maintenance capex, less net income from non-controlling interests, less distributions | (35.4) | - | - | (3.3) | (200.8) | (63.7) | - | - |
| Capital expenditures ex maintenance, net of proceeds from sale of PP&E | (411.5) | (297.7) | (381.5) | (191.3) | (284.8) | (402.0) | (464.6) | (100.1) |
| Acquisitions, investments (net of sale proceeds) | 3.8 | (19.2) | (1,943.3) | (2.4) | (7.4) | 1.6 | 4.3 | (148.5) |
| Cash contributions/distributions related to affiliates & noncontrolling interests | - | (177.2) | - | (11.1) | (0.7) | (0.5) | (5.5) | (0.1) |
| Debt incurred (repaid) | (261.52) | - | - | - | - | (53.17) | - | (164.03) |
| Other CF from investing activities, net | - | - | - | - | - | - | - | - |
| Other CF from financing activities, net | (7.6) | (0.0) | (12.3) | - | - | - | (23.3) | - |
| (712.3) | (494.1) | (2,337.0) | (208.0) | (493.8) | (517.7) | (489.1) | (412.7) | |
| Net cash from operations, less maintenance capex, less net income from non-controlling interests, less distributions | - | 64.5 | 25.0 | - | - | - | 88.3 | 213.2 |
| Cash contributions/distributions related to affiliates & noncontrolling interests | 8.3 | - | 580.1 | - | - | - | - | - |
| Debt incurred (repaid) | - | 401.4 | 1,078.7 | 158.5 | 390.5 | - | 19.5 | - |
| Partnership units issued | 667.7 | 29.1 | 712.8 | 57.4 | 65.2 | 512.5 | 70.0 | 513.4 |
| Other CF from investing activities, net | 6.9 | 4.5 | 11.2 | 2.8 | 1.7 | 4.1 | 5.8 | 2.2 |
| Other CF from financing activities, net | - | - | - | - | 8.2 | - | - | - |
| 682.9 | 499.5 | 2,407.8 | 218.6 | 465.6 | 516.6 | 183.6 | 728.8 | |
| Net change in cash | (29.4) | 5.3 | 70.8 | 10.6 | (28.2) | (1.1) | (305.5) | 316.1 |
Figures in $ Millions