Sunoco 2013 Annual Report Download - page 93

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19. Quarterly Financial Data (Unaudited)
Summarized quarterly financial data is as follows:
Successor
First Quarter Second Quarter Third Quarter Fourth Quarter (1)
(in millions, except per unit amounts)
2013
Sales and other operating revenue:
Unaffiliated customers $ 3,098 $ 3,948 $ 4,120 $ 3,907
Affiliates $ 414 $ 363 $ 408 $ 381
Gross profit (2) $ 262 $ 263 $ 205 $ 218
Operating income $ 165 $ 165 $ 104 $ 126
Net Income $ 142 $ 146 $ 81 $ 105
Net Income attributable to noncontrolling
interests 2333
Net Income attributable to Sunoco Logistics
Partners L.P. $ 140 $ 143 $ 78 $ 102
Less: General Partner's interest (27)(30)(31)(36)
Limited Partners' interest $ 113 $ 113 $ 47 $ 66
Net Income attributable to Sunoco Logistics
Partners L.P. per Limited Partner unit—basic $ 1.09 $ 1.09 $ 0.45 $ 0.64
Net Income attributable to Sunoco Logistics
Partners L.P. per Limited Partner unit—diluted $ 1.09 $ 1.08 $ 0.45 $ 0.63
Predecessor Successor
First Quarter Second Quarter Third Quarter
Period from Acquisition
(October 5, 2012) to
December 31, 2012
(in millions, except per unit amounts) (in millions, except per
unit amounts)
2012
Sales and other operating revenue:
Unaffiliated customers $ 3,275 $ 3,119 $ 3,066 $ 2,989
Affiliates $ 126 $ 194 $ 141 $ 200
Gross profit (2) $ 176 $ 224 $ 210 $ 256
Operating income (3) $ 127 $ 179 $ 154 $ 159
Net Income (4) (5) $ 97 $ 155 $ 137 $ 142
Net Income attributable to noncontrolling interests 2 3 3 3
Net Income attributable to Sunoco Logistics
Partners L.P. $ 95 $ 152 $ 134 $ 139
Less: General Partner's interest (15)(19)(21)(24)
Limited Partners' interest $ 80 $ 133 $ 113 $ 115
Net Income attributable to Sunoco Logistics
Partners L.P. per Limited Partner unit—basic $ 0.77 $ 1.29 $ 1.09 $ 1.11
Net Income attributable to Sunoco Logistics
Partners L.P. per Limited Partner unit—diluted $ 0.77 $ 1.28 $ 1.09 $ 1.10
(1) During the fourth quarter 2013, the Partnership recognized a gain of $10 million on a non-cash accrued liability adjustment.
(2) Gross profit equals sales and other operating revenue less cost of products sold and operating expenses.
(3) During the first quarter 2013, the Partnership adjusted its presentation of operating income reported in the consolidated statements of
comprehensive income to conform to the presentation utilized by ETP. Other income, which is comprised primarily of equity income
from the Partnership's unconsolidated joint-venture interests, is presented separately and is no longer included as a component of
operating income. These changes did not impact the Partnership's net income. Prior period amounts have been recast to conform to
current presentation.