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Energy Transfer Equity, L.P. (ETE) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Energy Transfer Equity, L.P.

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CIK: 1276187 Ticker: ETE


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ENERGY TRANSFER EQUITY
REPORTS FOURTH QUARTER RESULTS
Dallas - February 22, 2017 - Energy Transfer Equity, L.P. (NYSE:ETE) (“ETE” or the “Partnership”) today reported financial results for the fourth quarter ended December 31, 2016.
ETE’s net income attributable to partners was $233 million for the three months ended December 31, 2016 as compared to $314 million for the three months ended December 31, 2015. Distributable Cash Flow, as adjusted, was $299 million for the three months ended December 31, 2016 as compared to $343 million for the three months ended December 31, 2015.
The decreases in net income attributable to partners and Distributable Cash Flow, as adjusted, were primarily driven by a $95 million reduction in incentive distributions from ETP. As previously reported, ETE has agreed to a reduction in incentive distributions from ETP in the aggregate amount of $720 million over a period of seven quarters, beginning the quarter ended June 30, 2016.
The Partnership’s recent key accomplishments and other developments include the following:
•
In January 2017, ETE issued 32.2 million common units representing limited partner interests in the Partnership to certain institutional investors in a private transaction for gross proceeds of approximately $580 million, which ETE used to purchase 15.8 million newly issued ETP common units.
•
On January 26, 2017, the Partnership announced its quarterly cash distribution of $0.285 per ETE common unit for the fourth quarter ended December 31, 2016, or $1.14 per unit on an annualized basis.
•
As of December 31, 2016, ETE’s $1.50 billion revolving credit facility had $875 million of outstanding borrowings and its leverage ratio, as defined by the credit agreement, was 3.00x.
The Partnership has scheduled a conference call for 8:00 a.m. Central Time, Thursday, February 23, 2017 to discuss its fourth quarter 2016 results. The conference call will be broadcast live via an internet webcast, which can be accessed through www.energytransfer.com and will also be available for replay on the Partnership’s website for a limited time.
The Partnership’s principal sources of cash flow are derived from distributions related to its direct and indirect investments in the limited and general partner interests in Energy Transfer Partners, L.P. (“ETP”) and Sunoco LP, including 100% of ETP’s and Sunoco LP’s incentive distribution rights, ETP and Sunoco LP common units, ETP Class I Units, and, through ETP Class H Units, which track 90% of the underlying economics of the general partner interest and IDRs of Sunoco Logistics Partners L.P. (“Sunoco Logistics”), as well as the Partnership’s ownership of Lake Charles LNG. The Partnership’s primary cash requirements are for general and administrative expenses, debt service requirements and distributions to its partners.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master limited partnership that owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE: ETP) and Sunoco LP (NYSE: SUN). ETE also owns approximately 18.4 million ETP common units and approximately 81.0 million ETP Class H Units, which track 90% of the underlying economics of the general partner interest and IDRs of Sunoco Logistics Partners L.P. (NYSE: SXL). On a consolidated basis, ETE’s family of companies owns and operates approximately 71,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines. For more information, visit the Energy Transfer Equity, L.P. website at  www.energytransfer.com.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. ETP’s subsidiaries include Panhandle Eastern Pipe Line Company, LP (the successor of Southern Union Company) and Lone Star NGL LLC, which owns and operates natural gas liquids storage, fractionation and transportation assets. In total, ETP currently owns and operates more than 62,500 miles of natural gas and natural gas liquids pipelines. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 67.1 million common units of Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a geographically diverse portfolio of pipelines, terminalling and acquisition and marketing assets. ETP recently acquired the general partner, 100% of the incentive distribution rights, and an approximate 65% limited partnership interest in PennTex Midstream Partners, LP (NASDAQ: PTXP), which is a growth-oriented master limited partnership that provides natural gas gathering and processing and residue gas and natural gas

1
The following information was filed by Energy Transfer Equity, L.P. (ETE) on Wednesday, February 22, 2017 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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Inside Energy Transfer Equity, L.P.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Income Taxes Changes In Unrecognized Tax Benefits (details)
Income Taxes Components Of Income Tax (details)
Income Taxes Components Of Net Deferred Tax Liability (details)
Income Taxes Effects Of Temporary Differences That Comprise Net Deffered Income Tax Liability (details)
Income Taxes Income Taxes (tables)
Income Taxes Narrative (details)
Income Taxes Reconciliation Of Income Tax Satutory Rate (details)
Consolidated Balance Sheets
Consolidated Balance Sheets Balance Sheet (paranthetical)
Consolidated Statement Of Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Acquisitions (schedule Of Assets Acquired And Liabilities Assumed In Acquisition Table) (details)
Acquisitions And Related Transactions
Acquisitions And Related Transactions (tables)
Acquisitions And Related Transactions Acquisitions (2014 Narrative) (details)
Acquisitions And Related Transactions Acquisitions (2015 Narrative) (details)
Acquisitions And Related Transactions Acquisitions (2016 Narrative) (details)
Advances To And Investments In Unconsolidated Affiliates
Advances To And Investments In Unconsolidated Affiliates (tables)
Advances To And Investments In Unconsolidated Affiliates Investment In Affiliates (carrying Values) (details)
Advances To And Investments In Unconsolidated Affiliates Narrative (details)
Debt Obligations
Debt Obligations (debt Narrative) (details)
Debt Obligations Debt Obligations (covenants Related To Credit Agrrements) (narrative) (details)
Debt Obligations Debt Obligations (future Maturities Of Long-term Debt) (details)
Debt Obligations Debt Obligations (interest Rates & Maturities) (details)
Debt Obligations Debt Obligations (schedule Of Debt Obligations) (details)
Debt Obligations Debt Obligations (tables)
Derivative Assets And Liabilities
Derivative Assets And Liabilities (derivative Amount Of Gain (loss) Recognized) (details)
Derivative Assets And Liabilities (fair Value Of Derivative Instruments) (details)
Derivative Assets And Liabilities (interest Rate Swaps Outstanding) (details)
Derivative Assets And Liabilities (outstanding Commodity-related Derivatives) (details)
Derivative Assets And Liabilities (tables)
Derivative Assets And Liabilities Derivative Assets And Lianilities (offsetting Agreements Netting Table) (details)
Equity
Equity (accumulated Other Comprehensive Income) (details)
Equity (change In Ete Common Units) (details)
Equity (narrative) (details)
Equity (quarterly Distributions Of Available Cash) (details)
Equity (relinquishments Of Incentive Distribution Rights) (details)
Equity (tables)
Equity Tax Amounts In Components Of Other Comprehensive Income (loss) (details)
Estimates (accrued And Other Current Liabilities) (details)
Estimates (aggregate Amortization Expense Of Intangibles And Other Assets) (details)
Estimates (components Of Intangibles And Other Assets) (details)
Estimates (estimated Aggregate Amortization Expense) (details)
Estimates (fair Value Of Financial Assets And Liabilities Measured On Recurring Basis) (details)
Estimates (other Current Assets) (details)
Estimates (property, Plant And Equipment) (details)
Estimates (reconciliation For Liabilities Measured At Fair Value On A Recurring Basis) (details)
Estimates (schedule Of Goodwill) (details)
Estimates (schedule Of Inventory) (details)
Estimates (schedule Of Net Changes In Operating Assets And Liabilities Included Cash Flows From Operating Activities) (details)
Estimates (schedule Of Non-cash Investing And Financing Activities) (details)
Estimates (schedule Of Other Non-current Assets, Net) (details)
Estimates (schedule Of Property, Plant And Equipment Depreciation And Capitalized Interest Expense) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detail
Estimates, Significant Accounting Policies And Balance Sheet Detail (narrative) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detail (policy)
Estimates, Significant Accounting Policies And Balance Sheet Detail (tables)
Estimates, Significant Accounting Policies And Balance Sheet Detail Estimates (asset Retirement Obligations) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detail Estimates (fair Value Schedule Of Unobservable Inputs) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detail Estimates (schedule Of Useful Lives) (details) (details)
Ete Unit-based Compensation Plans (details)
Income Taxes Income Taxes (notes)
Investments In Affiliates (summarized Balance Sheet Information) (details)
Investments In Affiliates (summarized Income Statement Information) (details)
Net Income Per Limited Partner Unit
Net Income Per Limited Partner Unit (details)
Net Income Per Limited Partner Unit (tables)
Operations And Organization
Operations And Organization (narrative) (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (schedule Of Quarterly Financial Information) (details)
Quarterly Financial Data (unaudited) (tables)
Quarterly Financial Data (unaudited) Narrative (details)
Redeemable Preferred Units
Redeemable Preferred Units (details)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities (narrative) (details)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Regulatory Matters, Commitments, Contingencies And Environemental Liabilities (environmental Liabilities) (details)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Regulatory Matters, Commitments, Contingencies And Environmental Liabilities (schedule Of Future Minimum Rental Payments For Operating Leases) (details)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Regulatory Matters, Commitments, Contingencies And Environmental Liabilities (tables)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Regulatory Matters, Commitments, Contingincies And Enviironmental (schedule Of Rental Expense) (details)
Related Party Transactions
Related Party Transactions (narrative) (details)
Reportable Segments
Reportable Segments (advances To And Investments In Affiliates) (details)
Reportable Segments (assets Segments)(details)
Reportable Segments (equity In Earnings Of Unconsolidated Affiliates) (details)
Reportable Segments (lake Charles Revenue) (details)
Reportable Segments (operating Segments) (details)
Reportable Segments (tables)
Reportable Segments Etp Revenue (details)
Reportable Segments Regency Revenue (details)
Reportable Segments Reportable Segments (segment Adjusted Ebitda) (details)
Reporting Segments (additions To Property Plant And Equipment Including Acquisitions Net Of Contributions In Aid Of Construction Costs Segments) (details)
Retirement Benefits
Retirement Benefits (accumulated Benefit Obligation In Excess Of Plan Assets) (details)
Retirement Benefits (benefit Assumptions) (details)
Retirement Benefits (benefit Payments) (details)
Retirement Benefits (fair Value Of Plan Assets) (details)
Retirement Benefits (narrative) (details)
Retirement Benefits (net Periodic Benefit Costs Schedule) (details)
Retirement Benefits (obligations And Funded Status) (details)
Retirement Benefits Retirement Benefits (tables)
Supplemental Financial Statement Information
Supplemental Financial Statement Information (schedule Of Balance Sheets) (details)
Supplemental Financial Statement Information (schedule Of Statements Of Cash Flows) (details)
Supplemental Financial Statement Information (schedule Of Statements Of Operations) (details)
Supplemental Financial Statement Information (tables)
Supplemental Financial Statement Information Supplemental Financial Information (balance Sheet Units) (details)
Unit-based Compensation Plans
Unit-based Compensation Plans Subsidiary Unit-based Compensation Plans (details)
Unit-based Compensation Plans Unit-based Compensation Plans (tables)
Ticker: ETE
CIK: 1276187
Form Type: 10-K Annual Report
Accession Number: 0001276187-17-000023
Submitted to the SEC: Fri Feb 24 2017 4:44:46 PM EST
Accepted by the SEC: Fri Feb 24 2017
Period: Saturday, December 31, 2016
Industry: Natural Gas Transmission

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