Sunoco 2013 Annual Report Download - page 63

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SUNOCO LOGISTICS PARTNERS L.P.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(in millions, except units and per unit amounts)
Successor Predecessor
Year Ended
December 31,
2013
Period from
Acquisition
(October 5, 2012) to
December 31, 2012
Period from
January 1, 2012 to
October 4, 2012
Year Ended
December 31,
2011
Revenues
Sales and other operating revenue:
Unaffiliated customers $ 15,073 $ 2,989 $ 9,460 $ 10,473
Affiliates (Note 4) 1,566 200 461 432
Gain on divestment and related matters (Note 19) — — 11 —
Total Revenues 16,639 3,189 9,932 10,905
Costs and Expenses
Cost of products sold 15,574 2,885 9,214 10,153
Operating expenses 117 48 97 111
Selling, general and administrative expenses 123 34 86 90
Depreciation and amortization expense 265 63 76 86
Impairment charge and related matters (Notes 2, 18 and 19) — — (1) 42
Total Costs and Expenses 16,079 3,030 9,472 10,482
Operating Income 560 159 460 423
Net interest cost to affiliates (Note 4) (1) — — (3)
Other interest cost and debt expense, net (97) (18) (73) (93)
Capitalized interest 21 4 8 7
Other income 21 5 18 13
Income Before Provision for Income Taxes 504 150 413 347
Provision for income taxes (Note 2) (30) (8) (24) (25)
Net Income 474 142 389 322
Net Income attributable to noncontrolling interests (11) (3) (8) (9)
Net Income attributable to Sunoco Logistics Partners L.P. $ 463 $ 139 $ 381 $ 313
Calculation of Limited Partners' interest:
Net Income attributable to Sunoco Logistics Partners L.P. $ 463 $ 139 $ 381 $ 313
Less: General Partner's interest (124) (24) (55) (54)
Limited Partners’ interest (1) $ 339 $ 115 $ 326 $ 259
Net Income attributable to Sunoco Logistics Partners L.P. per
Limited Partner unit (Note 5):
Basic $ 3.27 $ 1.11 $ 3.15 $ 2.56
Diluted $ 3.25 $ 1.10 $ 3.14 $ 2.54
Weighted average Limited Partners' units outstanding (Note 5):
Basic 103.8 103.8 103.5 101.3
Diluted 104.3 104.1 103.9 101.8
Net Income $ 474 $ 142 $ 389 $ 322
Gain (loss) on cash flow hedges — — (21) 4
Other Comprehensive Income (Loss) — — (21) 4
Comprehensive Income 474 142 368 326
Less: Comprehensive income attributable to noncontrolling interests (11) (3) (8) (9)
Comprehensive Income attributable to Sunoco Logistics Partners
L.P. $ 463 $ 139 $ 360 $ 317
(1) Includes interest in net income attributable to Class A units, which were converted to common units in July 2012.
(See Accompanying Notes)