Last10K.com

Energy Transfer Partners, L.P. (ETP) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Energy Transfer Partners, L.P.

CIK: 1161154 Ticker: ETP


etplogo2014a06.jpg
ENERGY TRANSFER PARTNERS
REPORTS FOURTH QUARTER RESULTS
Dallas – February 21, 2018Energy Transfer Partners, L.P. (NYSE: ETP) today reported its financial results for the quarter ended December 31, 2017. For the three months ended December 31, 2017 Energy Transfer Partners, L.P. (“ETP” or the “Partnership”) reported a net income of $1.10 billion, an increase of $1.43 billion compared to a net loss of $336 million for the same period last year primarily due to a deferred tax benefit resulting from the recent tax reform. Adjusted EBITDA for the three months ended December 31, 2017 totaled $1.94 billion, an increase of $453 million over the same period last year, reflecting significantly higher results from the midstream and crude oil transportation and services segments, as discussed in the segment results analysis below. Distributable Cash Flow attributable to the partners of ETP, as adjusted, for the three months ended December 31, 2017 totaled $1.20 billion, an increase of $240 million compared to the same period last year, primarily due to the increase in adjusted EBITDA.
ETP’s other recent key accomplishments include the following:
On February 14, 2018, ETP paid a quarterly distribution of $0.565 per unit ($2.26 annualized) on ETP Common Units for the quarter ended December 31, 2017. The Partnership’s distribution coverage ratio for the fourth quarter of 2017 was 1.30x.
ETP announced that Phase 1A and Phase 1B of the Rover pipeline were placed in service in August 2017 and December 2017, respectively.
In January 2018, ETP announced the entry into an agreement pursuant to which ETP will contribute certain compression assets to USA Compression Partners, LP for an aggregate consideration of $1.7 billion, consisting of $447 million in equity and $1.225 billion in cash. The transaction is subject to customary closing conditions and is expected to close in the first half of 2018.
In February 2018, after the record date for Sunoco LP’s fourth quarter 2017 cash distributions, Sunoco LP repurchased 17,286,859 Sunoco LP common units owned by ETP for aggregate cash consideration of approximately $540 million.
As of December 31, 2017, ETP’s $5.00 billion revolving credit facilities had $2.34 billion of outstanding borrowings, and its leverage ratio, as defined by the credit agreement, was 3.96x.
An analysis of ETP’s segment results and other supplementary data is provided after the financial tables shown below. ETP has scheduled a conference call for 8:00 a.m. Central Time, Thursday, February 22, 2018 to discuss the fourth quarter 2017 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 ETP’s website for a limited time.
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. Strategically positioned in all of the major U.S. production basins, ETP owns and operates a geographically diverse portfolio of complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation assets; and various acquisition and marketing assets.  ETP’s general partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE). For more information, visit the Energy Transfer Partners, L.P. website at www.energytransfer.com.
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 Lake Charles LNG Company. On a consolidated basis, ETE’s family of companies owns and operates a diverse portfolio of natural gas, natural gas liquids, crude oil and refined products assets, as well as retail and wholesale motor fuel operations and LNG terminalling. For more information, visit the Energy Transfer Equity, L.P. website at www.energytransfer.com.
Forward-Looking Statements
This news release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to

1

The following information was filed by Energy Transfer Partners, L.P. (ETP) on Wednesday, February 21, 2018 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.

View differences made from one year to another to evaluate Energy Transfer Partners, L.P.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Energy Transfer Partners, L.P..

Continue

Assess how Energy Transfer Partners, L.P.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Energy Transfer Partners, L.P.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Acquisitions, Divestitures And Related Transactions (2015 Transactions) (details)
Acquisitions, Divestitures And Related Transactions (2016 Transactions) (details)
Acquisitions, Divestitures And Related Transactions (2017 Transactions) (details)
Acquisitions, Divestitures And Related Transactions (2018 Transactions) (details)
Acquisitions, Divestitures And Related Transactions (notes)
Acquisitions, Divestitures And Related Transactions (summary Of Preliminary Assets And Liabilityacquired) (details)
Acquisitions, Divestitures And Related Transactions (tables)
Acquisitions, Divestitures And Related Transactions Selected Financial Data (details)
Advances To And Investments In Unconsolidated Affiliates
Advances To And Investments In Unconsolidated Affiliates (investments In Unconsolidated Affiliates) (details)
Advances To And Investments In Unconsolidated Affiliates (narrative) (details)
Advances To And Investments In Unconsolidated Affiliates (summarized Financial Information) (details)
Advances To And Investments In Unconsolidated Affiliates (tables)
Debt Obligations (debt Instruments) (details)
Debt Obligations (future Maturities Of Long-term Debt) (details)
Debt Obligations (narrative) (details)
Debt Obligations (notes)
Debt Obligations (tables)
Debt Obligations Debt Instruments (parenthetical) (details)
Derivative Assets And Liabilties (fair Value Of Derivative Instruments) (details)
Derivative Assets And Liabilties (interest Rate Swaps Outstanding) (details)
Derivative Assets And Liabilties (netting Table) (details)
Derivative Assets And Liabilties (notes)
Derivative Assets And Liabilties (outstanding Commodity-related Derivatives) (details)
Derivative Assets And Liabilties (partnership's Derivative Assets And Liabilities, Amount Of Gain/(loss) Reclassified From Aoci Into Income (effective Portion)) (details)
Derivative Assets And Liabilties (partnership's Derivative Assets And Liabilities, Recognized Oci On Derivatives (effective Portion)) (details)
Derivative Assets And Liabilties (tables)
Equity (accumulated Other Comprehensive Income, Net Of Tax) (details)
Equity (change In Common Units) (details)
Equity (incentive Distribution Relinquishments) (details)
Equity (narrative) (details)
Equity (notes)
Equity (public Offerings Of Common Units) (details)
Equity (quarterly Distributions Of Available Cash) (details)
Equity (tables)
Equity (tax Amounts Attributable To Accumulated Other Comprehensive Income) (details)
Equity Distribution Targets (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (accrued And Other Current Liabilities) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (amortization Expense Of Intangible Assets) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (assets And Liabilities Measured And Recorded At Fair Value On A Recurring Basis) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (change In Accounting Policy) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (changes In The Carrying Amount Of Goodwill) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (components And Useful Lives Of Property, Plant And Equipment) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (costs And Expenses) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (estimated Aggregate Amortization Expense) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (intangible Assets) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (inventory) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (narrative) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (net Change In Operating Assets And Liabilities (net Of Acquisitions) Included In Cash Flows) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (non-cash Investing And Financing Activities And Supplemental Cash Flow Information) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (notes)
Estimates, Significant Accounting Policies And Balance Sheet Detials (other Current Assets) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (other Non-current Assets) (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (policy)
Estimates, Significant Accounting Policies And Balance Sheet Detials (schedule Of Property, Plant And Equipment Depreciation And Capitalized Interest Expense (details)
Estimates, Significant Accounting Policies And Balance Sheet Detials (tables)
Estimates, Significant Accounting Policies And Balance Sheet Detials (unobservable Inputs And Reconciliation) (details)
Guarantor Financial Information (details)
Guarantor Financial Information (notes)
Guarantor Financial Information (tables)
Income Taxes
Income Taxes (tables)
Income Taxes Changes In Unrecognized Tax Benefits (details)
Income Taxes Compoenents Of Federal And State Income Tax Expense (benefit) (details)
Income Taxes Components Of Net Deferred Income Tax (details)
Income Taxes Narrative (details)
Income Taxes Statutory Income Tax Rate Reconciliation (details)
Income Taxes Tax Effects Of Temporary Differences (details)
Net Income Per Limited Partner Unit (a Reconciliation Of Net Income And Weighted Average Units Used In Computing Basic And Diluted Net Income Per Unit) (details)
Net Income Per Limited Partner Unit (narrative) (details)
Net Income Per Limited Partner Unit (notes)
Net Income Per Limited Partner Unit (tables)
Operations And Organization (narrative) (details)
Operations And Organization (notes)
Quarterly Financial Data (notes)
Quarterly Financial Data (tables)
Quarterly Financial Data Qarterly Financial Data Table(details)
Quarterly Financial Data Quarterly Narrative (details)
Regulatory Matters, Commitments, Contingencies And Environmental Matters (liabilities Related To Environmental Matters) (details)
Regulatory Matters, Commitments, Contingencies And Environmental Matters (narrative) (details)
Regulatory Matters, Commitments, Contingencies And Environmental Matters (notes)
Regulatory Matters, Commitments, Contingencies And Environmental Matters (rent Expense And Future Minimum Lease Commitments) (details)
Regulatory Matters, Commitments, Contingencies And Environmental Matters (tables)
Related Party Transactions (notes)
Related Party Transactions (tables)
Related Party Transactions Related Party - Affiliate Ar And Affiliate Ap (details)
Related Party Transactions Related Party - Affiliated Revenues (details)
Reportable Segments (financial Information By Segment) (details)
Reportable Segments (narrative) (details)
Reportable Segments (notes)
Reportable Segments (segment Adjusted Ebitda) (details)
Reportable Segments (tables)
Retirement Benefits (narratives) (details)
Retirement Benefits (notes)
Retirement Benefits Assumed Health Care Cost Trend Rates (details)
Retirement Benefits Components Of Net Periodic Benefit Cost (details)
Retirement Benefits Expected Future Benefit Payments (details)
Retirement Benefits Fair Value Of Plan Assets (details)
Retirement Benefits Obligations And Funded Status (details)
Retirement Benefits Retirement Benefits (tables)
Retirement Benefits Schedule Of Weighted-average Assumptions To Determine Defined Benefit Plans And Postretirement Benefit Plans Expense (details)
Retirement Benefits Summary For Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets (details)
Retirement Benefits Weighted-average Assumptions Used In Determining Benefit Obligations (details)
Series A Preferred Units (details)
Series A Preferred Units (notes)
Unit-based Compensation Plans (activity Of The Awards Granted To Employees And Non-employee Directors) (details)
Unit-based Compensation Plans (narrative) (details)
Unit-based Compensation Plans (notes)
Unit-based Compensation Plans (tables)
Ticker: ETP
CIK: 1161154
Form Type: 10-K Annual Report
Accession Number: 0001161154-18-000018
Submitted to the SEC: Fri Feb 23 2018 4:46:07 PM EST
Accepted by the SEC: Fri Feb 23 2018
Period: Sunday, December 31, 2017
Industry: Pipe Lines No Natural Gas

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/etp/0001161154-18-000018.htm