Energy Transfer 2012 Annual Report Download - page 195

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F - 50
The following table details our outstanding commodity-related derivatives:
December 31, 2012 December 31, 2011
Notional
Volume Maturity Notional
Volume Maturity
Mark-to-Market Derivatives
(Trading)
Natural Gas (MMBtu):
Basis Swaps IFERC/NYMEX (1) (30,980,000) 2013-2014 (151,260,000) 2012-2013
Power (Megawatt):
Forwards 19,650 2013 — —
Futures (1,509,300) 2013 — —
Options — Calls 1,656,400 2013 — —
(Non-Trading)
Natural Gas (MMBtu):
Basis Swaps IFERC/NYMEX 150,000 2013 (61,420,000) 2012-2013
Swing Swaps IFERC (83,292,500) 2013 92,370,000 2012-2013
Fixed Swaps/Futures 27,077,500 2013 797,500 2012
Forward Physical Contracts 11,689,855 2013-2014 (10,672,028) 2012
Options — Puts — 2013 — —
Natural Gas Liquid (Bbls):
Forwards/Swaps (30,000) 2013 — —
Refined Products (Bbls) (666,000) 2013 — —
Propane (Gallons):
Forwards/Swaps — — 38,766,000 2012-2013
Fair Value Hedging Derivatives
(Non-Trading)
Natural Gas (MMBtu):
Basis Swaps IFERC/NYMEX (18,655,000) 2013 (28,752,500) 2012
Fixed Swaps/Futures (44,272,500) 2013 (45,822,500) 2012
Hedged Item — Inventory 44,272,500 2013 45,822,500 2012
Cash Flow Hedging Derivatives
(Non-Trading)
Natural Gas (MMBtu):
Fixed Swaps/Futures (8,212,500) 2013 — —
Options — Puts — — 3,600,000 2012
Options — Calls — — (3,600,000) 2012
Natural Gas Liquid (Bbls):
Forwards/Swaps (930,000) 2013 — —
Refined Products (BBls) (98,000) 2013 — —
(1) Includes aggregate amounts for open positions related to Houston Ship Channel, Waha Hub, NGPL TexOk, West
Louisiana Zone and Henry Hub locations.
We expect losses of $6 million related to commodity derivatives to be reclassified into earnings over the next 12 months
related to amounts currently reported in AOCI. The amount ultimately realized, however, will differ as commodity prices
change and the underlying physical transaction occurs.
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