Sunoco 2015 Annual Report Download - page 54
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52
Adjusted EBITDA for the Crude Oil segment decreased $32 million to $669 million for the year ended December 31, 2014
compared to the prior year period. The decrease in Adjusted EBITDA was due primarily to lower results from our crude oil
acquisition and marketing activities ($66 million) driven by reduced margins which were negatively impacted by contracted
crude oil differentials compared to the prior year period. Increased selling, general and administrative expenses attributable to
growth projects ($3 million) also contributed to the decrease. This impact was partially offset by improved contributions from
our crude oil pipelines ($29 million) which benefited from expansion projects placed into service in 2014 and 2013, and higher
results attributable to crude oil terminal activities ($8 million).