Energy Transfer 2012 Annual Report Download - page 105

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approximate market prices at the time we take delivery of the volumes. Our estimated future variable price contract payment
obligations are based on the December 31, 2012 market price of the applicable commodity applied to future volume
commitments. Actual future payment obligations may vary depending on market prices at the time of delivery. The purchase
prices that we are obligated to pay under fixed price contracts are established at the inception of the contract. Our estimated
future fixed price contract payment obligations are based on the contracted fixed price under each commodity contract.
Obligations shown in the table represent estimated payment obligations under these contracts for the periods indicated.
Approximately $61 billion of total purchase commitments relate to production from PES.
(c) Excludes non-current deferred tax liabilities of $3.48 billion due to uncertainty of the timing of future cash flows for such
liabilities.
Cash Distributions
We expect to use substantially all of our cash provided by operating and financing activities from the Operating Companies to
provide distributions to our Unitholders. Under our Partnership Agreement, we will distribute to our partners within 45 days after
the end of each calendar quarter, an amount equal to all of our Available Cash (as defined in our Partnership Agreement) for such
quarter. Available Cash generally means, with respect to any quarter of the Partnership, all cash on hand at the end of such quarter
less the amount of cash reserves established by the General Partner in its reasonable discretion that is necessary or appropriate to
provide for future cash requirements. Our commitment to our Unitholders is to distribute the increase in our cash flow while
maintaining prudent reserves for our operations.
Distributions declared are summarized as follows:
Record Date Payment Date Amount per Unit
Year Ended December 31, 2012 November 6, 2012 November 14, 2012 $ 0.89375
August 6, 2012 August 14, 2012 0.89375
May 4, 2012 May 15, 2012 0.89375
February 7, 2012 February 14, 2012 0.89375
Year Ended December 31, 2011 November 4, 2011 November 14, 2011 $ 0.89375
August 5, 2011 August 15, 2011 0.89375
May 6, 2011 May 16, 2011 0.89375
February 7, 2011 February 14, 2011 0.89375
Year Ended December 31, 2010 November 8, 2010 November 15, 2010 $ 0.89375
August 9, 2010 August 16, 2010 0.89375
May 7, 2010 May 17, 2010 0.89375
February 8, 2010 February 15, 2010 0.89375
On January 28, 2013, we declared a cash distribution for the three months ended December 31, 2012 of $0.89375 per Common
Unit, or $3.575 annualized. We paid this distribution on February 14, 2013 to Unitholders of record at the close of business on
February 7, 2013.
The total amounts of distributions declared during the periods presented (all from Available Cash from our operating surplus and
are shown in the year with respect to which they relate) are as follows (in millions):
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