Energy Transfer 2013 Annual Report Download - page 102

Table of Contents
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, 2013 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 $5.72
billion of total purchase commitments relate to production from PES.
(3) Excludes non-current deferred tax liabilities of $3.76 billion due to uncertainty of the timing of future cash flows for such liabilities.
Cash Distributions
Cash Distributions Paid by ETP
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
Rate
Year Ended December 31, 2013 November 4, 2013
November 14, 2013
$0.90500
August 5, 2013
August 14, 2013
0.89375
May 6, 2013
May 15, 2013
0.89375
February 7, 2013
February 14, 2013
0.89375
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
On January 28, 2014, we declared a cash distribution for the three months ended December 31, 2013 of $0.9200 per Common Unit, or $3.68 annualized. We
paid this distribution on February 14, 2014 to Unitholders of record at the close of business on February 7, 2014.
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