Energy Transfer Equity, L.P. (ETE) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Energy Transfer Equity, L.P.

CIK: 1276187 Ticker: ETE
Exhibit 99.1
Dallas – February 18, 2010
Energy Transfer Equity, L.P. (NYSE:ETE) today reported Distributable Cash Flow of $128.2 million and net income of $242.1 million for the three months ended December 31, 2009. Distributable Cash Flow is a “non-GAAP measure” as explained below.
For the three months ended December 31, 2009, ETE’s Distributable Cash Flow was $128.2 million, an increase of $13.3 million over the three months ended December 31, 2008. For the year ended December 31, 2009, ETE’s Distributable Cash Flow was $494.4 million, an increase of $61.3 million over the year ended December 31, 2008.
ETE’s net income attributable to its partners increased $117.0 million for the three months ended December 31, 2009 to $139.6 million as compared to $22.6 million for the three months ended December 31, 2008. Net income attributable to its partners increased $67.4 million for the year ended December 31, 2009 to $442.5 million as compared to $375.0 million for the year ended December 31, 2008.
Distributable Cash Flow previously presented in ETE’s press releases was reduced by contributions made to Energy Transfer Partners, L.P. (“ETP”) to maintain ETE’s general partner interest at 2%. In July 2009, ETP amended and restated its partnership agreement and as a result, ETE is no longer required to maintain a 2% general partner interest. Consequently, ETE’s capital contributions to ETP have been removed from the calculation of Distributable Cash Flow.
The Partnership’s principal sources of cash flow are distributions it receives from its investments in the limited and general partner interests in ETP, including 100% of ETP’s incentive distribution rights and approximately 62.5 million of ETP’s Common Units. ETE currently has no operating activities apart from those conducted by ETP and its operating subsidiaries. ETE’s principal uses of cash are for distributions to its general and limited partners, expenses, debt service and, at ETE’s election, capital contributions to ETP in respect of ETE’s general partner interest in ETP.
The Partnership has scheduled a conference call for 2:00 p.m. Central Time, Friday, February 19, 2010 to discuss the 2009 results. The conference call will be broadcast live via an internet web cast, which can be accessed through The call will be available for replay on the Partnership’s website for a limited time.
Certain 2008 financial statement amounts have been reclassified to conform to the 2009 presentation. These changes had no impact on net income or total equity, with the exception of changes to the presentation of noncontrolling interest resulting from the adoption of Accounting Standards Codification 810-10-65, which resulted in (i) the reclassification of noncontrolling (minority) interest from liabilities to a separate component of equity in our consolidated balance sheet and (ii) the reclassification of minority interest expense to net income attributable to noncontrolling interest in our consolidated statement of operations.



The following information was filed by Energy Transfer Equity, L.P. (ETE) on Thursday, February 18, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: ETE
CIK: 1276187
Form Type: 10-K Annual Report
Accession Number: 0001193125-10-039075
Submitted to the SEC: Wed Feb 24 2010 5:21:08 PM EST
Accepted by the SEC: Wed Feb 24 2010
Period: Thursday, December 31, 2009
Industry: Natural Gas Transmission

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