Sunoco 2012 Annual Report Download - page 71

SUNOCO LOGISTICS PARTNERS L.P.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(in millions, except units and per unit amounts)
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
Revenues
Sales and other operating revenue:
Unaffiliated customers ......................... $2,989 $9,460 $10,473 $6,691
Affiliates (Note 4) ............................ 200 461 432 1,117
Other income .................................... 5 18 13 30
Gain on divestment and related matters ................ — 11 — —
Total Revenues .............................. 3,194 9,950 10,918 7,838
Costs and Expenses
Cost of products sold and operating expenses ........... 2,933 9,311 10,264 7,398
Depreciation and amortization expense ................ 63 76 86 64
Impairment charge and related matters (Note 2) ......... — (1) 42 3
Selling, general and administrative expenses ............ 34 86 90 72
Total Costs and Expenses ..................... 3,030 9,472 10,482 7,537
Operating Income ................................ 164 478 436 301
Net interest cost to affiliates (Note 4) ................. — — 3 2
Other interest cost and debt expense, net ............... 18 73 93 76
Capitalized interest ................................ (4) (8) (7) (5)
Gain on investments in affiliates (Note 3) .............. — — — 128
Income Before Provision for Income Taxes ........... 150 413 347 356
Provision for income taxes (Note 2) .................. 8 24 25 8
Net Income ..................................... 142 389 322 348
Net Income attributable to noncontrolling interests ....... 3 8 9 2
Net Income attributable to Sunoco Logistics Partners
L.P. .......................................... $ 139 $ 381 $ 313 $ 346
Calculation of Limited Partners’ interest:
Net Income attributable to Sunoco Logistics Partners
L.P. ...................................... $ 139 $ 381 $ 313 $ 346
Less: General Partner’s interest .................. (24) (55) (54) (48)
Limited Partners’ interest (1) ................... $ 115 $ 326 $ 259 $ 298
Net Income attributable to Sunoco Logistics Partners
L.P. per
Limited Partner unit (Note 5):
Basic ....................................... $ 1.11 $ 3.15 $ 2.56 $ 3.13
Diluted ..................................... $ 1.10 $ 3.14 $ 2.54 $ 3.11
Weighted average Limited Partners’ units outstanding
(Note 5):
Basic ....................................... 103.8 103.5 101.3 95.2
Diluted ..................................... 104.1 103.9 101.8 95.7
Net Income ..................................... $ 142 $ 389 $ 322 $ 348
Recognition of funded status of affiliates’ postretirement
plans ......................................... — — — 1
Gain (loss) on cash flow hedges ...................... — (21) 4 (2)
Other Comprehensive Income (Loss) ................ — (21) 4 (1)
Comprehensive Income ........................... 142 368 326 347
Less: Comprehensive income attributable to noncontrolling
interests ...................................... 3 8 9 2
Comprehensive Income attributable to Sunoco
Logistics Partners L.P. .......................... $ 139 $ 360 $ 317 $ 345
(1) Includes interest in net income attributable to Class A units, which were converted to common units in July 2012.
(See Accompanying Notes)
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