Energy Transfer 2010 Annual Report Download - page 141
Download and view the complete annual report
Please find page 141 of the 2010 Energy Transfer annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
 |
 |
Other Current Assets
Other current assets consisted of the following:
December 31,
2010 2009
Deposits paid to vendors $ 52,192 $ 79,694
Prepaid and other 63,077 68,679
Total other current assets $ 115,269 $ 148,373
Property, Plant and Equipment
Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed
using the straight-line method over the estimated useful or Federal Energy Regulatory Commission
(“FERC”) mandated lives of the assets. Expenditures for maintenance and repairs that do not add capacity or
extend the useful life are expensed as incurred. Expenditures to refurbish assets that either extend the useful
lives of the asset or prevent environmental contamination are capitalized and depreciated over the remaining
useful life of the asset. Additionally, we capitalize certain costs directly related to the installation of
company-owned propane tanks and construction of assets including internal labor costs, interest and
engineering costs. Upon disposition or retirement of pipeline components or natural gas plant components,
any gain or loss is recorded to accumulated depreciation. When entire pipeline systems, gas plants or other
property and equipment are retired or sold, any gain or loss is included in our consolidated statements of
operations.
We review property, plant and equipment for impairment whenever events or changes in circumstances
indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate
that the carrying amount of long-lived assets is not recoverable, we reduce the carrying amount of such
assets to fair value. No impairment of long-lived assets was required during the periods presented.
Capitalized interest is included for pipeline construction projects, except for interstate projects for which an
allowance for funds used during construction (“AFUDC”) is accrued. Interest is capitalized based on the
current borrowing rate of our revolving credit facility when the related costs are incurred. AFUDC is
calculated under guidelines prescribed by the FERC and capitalized as part of the cost of utility plant for
interstate projects. It represents the cost of servicing the capital invested in construction work-in-process.
AFUDC is segregated into two component parts – borrowed funds and equity funds.
F-15