Sunoco 2015 Annual Report Download - page 49

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47
Conservative Capital Structure
Our goal is to maintain substantial liquidity and a conservative capital structure. Sunoco Logistics Partners Operations L.P.
(the "Operating Partnership"), our wholly-owned subsidiary, maintains a $2.50 billion Credit Facility (including commercial
paper issuances), which contains an "accordion" feature, that, under certain conditions, may increase to $3.25 billion.
During 2015, we issued 42.3 million common units for net proceeds of $1.5 billion in connection with an overnight equity
offering and activity under our at-the-market equity offering program ("ATM program"). We also issued $1.0 billion of long-
term debt in connection with senior notes offerings.
We will maintain our conservative capital structure by utilizing a combination of our operating cash flows and debt and
equity issuances to finance our future growth.
Cash Distribution Increases
As a result of our continued growth, our general partner increased our cash distributions to limited partners in all quarters
in the three years ended December 31, 2015. For the quarter ended December 31, 2015, the distribution increased to $0.479 per
common unit ($1.92 annualized). The distribution for the fourth quarter 2015 was paid on February 12, 2016.