Energy Transfer 2015 Annual Report Download - page 166

Table of Contents
ENERGY TRANSFER PARTNERS, L.P. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in millions, except per unit data)
Years Ended December 31,
2015
2014
2013
REVENUES:
Natural gas sales $ 3,671
$ 5,386
$ 3,842
NGL sales 3,936
5,845
3,618
Crude sales 8,378
16,416
15,477
Gathering, transportation and other fees 3,997
3,517
3,097
Refined product sales 9,958
19,437
18,479
Other 4,352
4,874
3,822
Total revenues 34,292
55,475
48,335
COSTS AND EXPENSES:
Cost of products sold 27,029
48,414
42,580
Operating expenses 2,261
2,059
1,669
Depreciation, depletion and amortization 1,929
1,669
1,296
Selling, general and administrative 475
520
482
Impairment losses 339
370
689
Total costs and expenses 32,033
53,032
46,716
OPERATING INCOME 2,259
2,443
1,619
OTHER INCOME (EXPENSE):
Interest expense, net (1,291)
(1,165)
(1,013)
Equity in earnings from unconsolidated affiliates 469
332
236
Gain on sale of AmeriGas common units —
177
87
Losses on extinguishments of debt (43)
(25)
(7)
Gains (losses) on interest rate derivatives (18)
(157)
44
Non-operating environmental remediation —
—
(168)
Other, net 22
(12)
12
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE 1,398
1,593
810
Income tax expense (benefit) from continuing operations (123)
358
97
INCOME FROM CONTINUING OPERATIONS 1,521
1,235
713
Income from discontinued operations —
64
33
NET INCOME 1,521
1,299
746
Less: Net income attributable to noncontrolling interest 157
116
255
Less: Net income (loss) attributable to predecessor (34)
(153)
35
NET INCOME ATTRIBUTABLE TO PARTNERS 1,398
1,336
456
General Partner’s interest in net income 1,064
513
506
Class H Unitholder’s interest in net income 258
217
48
Class I Unitholder’s interest in net income 94
—
—
Common Unitholders’ interest in net income (loss) $ (18)
$ 606
$ (98)
INCOME (LOSS) FROM CONTINUING OPERATIONS PER COMMON UNIT:
Basic $ (0.09)
$ 1.58
$ (0.23)
Diluted $ (0.10)
$ 1.58
$ (0.23)
NET INCOME (LOSS) PER COMMON UNIT:
Basic $ (0.09)
$ 1.77
$ (0.18)
Diluted $ (0.10)
$ 1.77
$ (0.18)
The accompanying notes are an integral part of these consolidated financial statements.
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