Sunoco 2012 Annual Report Download - page 104

(1) Sales and other operating revenue for the periods presented includes the following amounts from ETP and Sunoco
(including their affiliated entities):
Successor Predecessor
Period from Acquisition
(October 5, 2012) to
December 31, 2012
Period from
January 1, 2012 to
October 4, 2012
Year Ended
December 31,
2011 2010
(in millions) (in millions)
Crude Oil Pipelines ...................................... $— $— $ 6 $ 25
Crude Oil Acquisition and Marketing ........................ 139 307 247 894
Terminal Facilities ....................................... 50 118 115 122
Refined Products Pipelines ................................ 11 36 64 76
Total sales and other operating revenue .................. $200 $461 $432 $1,117
(2) In the first quarter 2012, the Partnership recognized a non-cash impairment charge related to a cancelled software project
for the crude oil acquisition and marketing business and a refined products pipeline project in Texas. The impairment was
recorded as $8 and $1 million within the Crude Oil Acquisition and Marketing and Refined Products Pipelines segments,
respectively.
(3) In 2011, the Partnership recognized a charge of $42 million for certain crude oil terminal assets which would have been
negatively impacted if Sunoco’s Philadelphia refinery were permanently idled. The charge included a $31 million non-cash
impairment for asset write-downs at the Fort Mifflin Terminal Complex and $11 million for regulatory obligations which
would have been incurred if these assets were permanently idled. In the second quarter 2012, the Partnership recognized a
$10 million gain on the reversal of certain regulatory obligations. Such expenses were no longer expected to be incurred as
the Philadelphia refinery will continue to operate in connection with Sunoco’s joint venture with The Carlyle Group.
(4) Total capital expenditures in 2011 exclude $396 million for the acquisition of a crude oil and marketing business, a refined
products terminal, an interest in the Inland refined products pipeline system and the Eagle Point tank farm.
(5) Total capital expenditures in 2010 exclude $252 million for the acquisition of the butane blending business, additional
ownership interests in West Shore, Mid-Valley and West Texas Gulf, and two terminals.
(6) Net income includes $5, $14, $12 and $14 million for the periods from October 5, 2012 to December 31, 2012, from
January 1, 2012 to October 4, 2012, and for the years ended December 31, 2011 and 2010, respectively, of equity income
attributable to the Refined Products Pipelines equity ownership interest in joint ventures. For the year ended December 31,
2010, net income also includes $12 million of equity income attributable to the Crude Oil Pipelines equity ownership
interest in joint ventures.
The following table provides consolidated balance sheet information concerning the Partnership’s business
segments as of December 31, 2012, 2011 and 2010, respectively:
Crude Oil
Pipelines
Crude Oil
Acquisition and
Marketing
Terminal
Facilities
Refined
Products
Pipelines Total
(in millions)
Successor
As of December 31, 2012
Investment in affiliates .......................... $ — $ — $ — $ 118 $ 118
Goodwill .................................... $ 200 $ 545 $ 623 $ — $ 1,368
Identifiable assets(1) ............................ $3,167 $3,495 $2,402 $1,198 $10,361
Predecessor
As of December 31, 2011
Investment in affiliates .......................... $ — $ — $ — $ 73 $ 73
Goodwill .................................... $ 2 $ 14 $ 53 $ 8 $ 77
Identifiable assets(2) ............................ $1,055 $2,469 $1,053 $ 736 $ 5,477
As of December 31, 2010
Investment in affiliates .......................... $ — $ — $ — $ 73 $ 73
Goodwill .................................... $ 2 $ — $ 53 $ 8 $ 63
Identifiable assets(3) ............................ $1,018 $1,695 $ 857 $ 531 $ 4,188
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