Sunoco 2013 Annual Report Download - page 3

1
Forward-Looking Statements
This annual report on Form 10-K discusses our goals, intentions and expectations as to future trends, plans, events,
results of operations or financial condition, or states other information relating to us, based on the current beliefs of our
management as well as assumptions made by, and information currently available to, our management.
Words such as "may," "anticipates," "believes," "expects," "estimates," "planned," "scheduled" or similar phrases or
expressions identify forward-looking statements. Although we believe these forward-looking statements are reasonable, they are
based upon a number of assumptions, any or all of which may ultimately prove to be inaccurate. These statements are subject
to numerous assumptions, uncertainties and risks that may cause future results to be materially different from the results
projected, forecasted, estimated or budgeted, including, but not limited to the following:
• Our ability to successfully consummate announced acquisitions or expansions and integrate them into our existing
business operations;
• Delays related to construction of, or work on, new or existing facilities and the issuance of applicable permits;
• Changes in supply of or demand for crude oil, refined petroleum products and natural gas liquids ("NGLs") that
impact demand for our pipeline, terminalling and storage services;
• Changes in the short-term and long-term demand for crude oil, refined petroleum products and NGLs we buy and sell;
• An increase in the competition encountered by our terminals, pipelines and crude oil and refined products acquisition
and marketing operations;
• Changes in the financial condition or operating results of joint ventures or other holdings in which we have an equity
ownership interest;
• Changes in the general economic conditions in the United States;
• Changes in laws and regulations to which we are subject, including federal, state, and local tax, safety, environmental
and employment laws;
• Changes in regulations governing composition of the products that we transport, terminal and store;
• Improvements in energy efficiency and development of technology resulting in reduced demand for refined petroleum
products;
• Our ability to manage growth and/or control costs;
• The ability of Energy Transfer Partners, L.P. to successfully integrate our operations and employees, and realize
anticipated synergies;
• The effect of changes in accounting principles and tax laws and interpretations of both;
• Global and domestic economic repercussions, including disruptions in the crude oil and refined petroleum products
markets, from terrorist activities, international hostilities and other events, and the government’s response thereto;
• Changes in the level of operating expenses and hazards related to operating our facilities (including equipment
malfunction, explosions, fires, spills and the effects of severe weather conditions);
• The occurrence of operational hazards or unforeseen interruptions for which we may not be adequately insured;
• The age of, and changes in the reliability and efficiency of our operating facilities;
• Changes in the expected level of capital, operating, or remediation spending related to environmental matters;
• Changes in insurance markets resulting in increased costs and reductions in the level and types of coverage available;
• Risks related to labor relations and workplace safety;
• Non-performance by or disputes with major customers, suppliers or other business partners;
• Changes in our tariff rates implemented by federal and/or state government regulators;
• The amount of our debt, which could make us vulnerable to adverse general economic and industry conditions, limit
our ability to borrow additional funds, place us at competitive disadvantages compared to competitors that have less
debt, or have other adverse consequences;
• Restrictive covenants in our credit agreements;
• Changes in our or our general partner's credit ratings, as assigned by ratings agencies;
• The condition of the debt capital markets and equity capital markets in the United States, and our ability to raise
capital in a cost-effective way;
• Performance of financial institutions impacting our liquidity, including those supporting our credit facilities;
• The effectiveness of our risk management activities, including the use of derivative financial instruments to hedge
commodity risks;
• Changes in interest rates on our outstanding debt, which could increase the costs of borrowing; and
• The costs and effects of legal and administrative claims and proceedings against us or any entity in which we have an
ownership interest, and changes in the status of, or the initiation of new litigation, claims or proceedings, to which we,
or any entity in which we have an ownership interest, are a party.