WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING: Reconciliation of net income to Adjusted EBITDA and Distributable Cash Flow (b): Interest expense, net of capitalized interest, Losses (gains) on interest rate derivatives, Unrealized losses (gains) on commodity risk management activities, Adjusted EBITDA related to unconsolidated affiliates, Adjusted EBITDA from discontinued operations, Distributable cash flow from unconsolidated affiliates, Distributable Cash Flow attributable to Sunoco LP (100%), Distributable Cash Flow attributable to USAC (100%), Distributable Cash Flow attributable to noncontrolling interests in other non-wholly-owned consolidated subsidiaries, Distributable Cash Flow attributable to the partners of ET – pro forma for the Merger (a), Distributable Cash Flow attributable to the partners of ET, as adjusted – pro forma for the Merger (a). Jaguar is one of the world’s premier luxury marques, as well as being the first ever brand to offer a premium all-electric performance SUV, the Jaguar I-PACE. For the three months ended June 30, 2019 compared to the same period last year, Segment Adjusted EBITDA related to our investment in Sunoco LP segment increased due to the net impacts of the following: The Investment in USAC segment reflects the consolidated results of USAC. However, to the extent that noncontrolling interests exist among our subsidiaries, the Distributable Cash Flow generated by our subsidiaries may not be available to be distributed to our partners. View source version on businesswire.com: https://www.businesswire.com/news/home/20190807005843/en/, Energy Transfer Construction began in the first quarter of 2017 and is scheduled to end November 2017. As a result of the Merger in October 2018, our reportable segments were reevaluated during the quarter ended December 31, 2018 and currently reflect the following segments. Configure yours at: www.jaguar.com, To discover more about Land Rover’s range of electrified products visit www.landrover.com, Jaguar Channels: - Facebook: http://www.facebook.com/Jaguar- Twitter: http://twitter.com/Jaguar- Instagram: http://instagram.com/Jaguar- YouTube: http://www.youtube.com/JaguarCars, Land Rover channels: ET, through its ownership of Energy Transfer Operating, L.P., also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). Distribution coverage ratio for a period is calculated as Distributable Cash Flow attributable to partners, as adjusted, divided by distributions expected to be paid to the partners of ET in respect of such period. We employ 40,000 people globally and support around 250,000 more through our retailer network, suppliers and local businesses. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS, Interest expense, net of interest capitalized, Equity in earnings of unconsolidated affiliates, Gains (losses) on interest rate derivatives, INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE, Income tax expense from continuing operations, Loss from discontinued operations, net of income taxes, Less: Net income attributable to noncontrolling interests, Less: Net income attributable to redeemable noncontrolling interests, Series A Convertible Preferred Unitholders’ interest in income. Segment Adjusted EBITDA. USAC focuses on providing compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities and transportation applications. WOOSTER – Rover Pipeline’s unofficial request for a 50% average reduction to the tax year 2019 assessment could cause a domino effect of consequences for school districts and other entities counting on the revenue they expected to receive. Sunoco LP (NYSE: SUN) is a master limited partnership with core operations that include the distribution of motor fuel to approximately 10,000 convenience stores, independent dealers, commercial customers and distributors located in more than 30 states, as well as refined product transportation and terminalling assets. In addition, our calculations of Adjusted EBITDA, Distributable Cash Flow and distribution coverage ratio may not be consistent with similarly titled measures of other companies and should be viewed in conjunction with measurements that are computed in accordance with GAAP, such as segment margin, operating income, net income and cash flow from operating activities. Late on Thursday, FERC issued a certificate of public convenience and necessity for the Rover Pipeline project, which is planned to go through west-central Lenawee County. The Partnership has scheduled a conference call for 8:00 a.m. Central Time, Thursday, August 8, 2019 to discuss its second quarter 2019 results. Segment Adjusted EBITDA. DALLAS--(BUSINESS WIRE)--Aug. 7, 2019-- Segment Adjusted EBITDA. Transported volumes reflected an increase of 2,118 BBtu/d as a result of the following: the Rover pipeline being placed fully in-service in November 2018; production increases in the Haynesville Shale and deliveries to intrastate markets resulting in increased deliveries off of our Tiger pipeline; and increased utilization of higher contracted capacity on the Panhandle and Trunkline pipelines. Investor Relations: Results were supported by significant increases in four of the Partnership’s five core segments, with record operating performance in the Partnership’s NGL and refined products segment. The Rover pipeline is a natural gas pipeline currently under construction in the United States. Choose the plan that’s right for you. Pro forma distributions to ETO partners are calculated assuming (i) historical ETO common units converted under the terms of the Merger and (ii) distributions on such converted common units were paid at the historical rate paid on ET Common Units. “Both the Jaguar and Land Rover brands offer customers a compelling range of electrified products from PHEVs like the Range Rover Evoque to full electric models like the Jaguar I-PACE, and excitingly there are more to come. Adjusted EBITDA is used by management to determine our operating performance and, along with other financial and volumetric data, as internal measures for setting annual operating budgets, assessing financial performance of our numerous business locations, as a measure for evaluating targeted businesses for acquisition and as a measurement component of incentive compensation. Following is a reconciliation of our segment margin to operating income, as reported in the Partnership’s consolidated statements of operations: Unrealized gains on commodity risk management activities, Operating expenses, excluding non-cash compensation expense, Selling, general and administrative expenses, excluding non-cash compensation expense. NGL transportation volumes increased as a result of placing Mariner East 2 pipeline in service and higher throughput volumes on our Texas NGL pipeline system resulting primarily from increased production in the Permian and North Texas regions. Our products are in demand around the globe and in 2019 we sold 557,706 vehicles in 127 countries. Energy Transfer, which developed the controversial Dakota Access Pipeline, also sold ownership positions in that project to help fund the construction. Distributable Cash Flow attributable to partners, as adjusted, for the three months ended June 30, 2019 was $1.60 billion, an increase of $301 million compared to the three months ended June 30, 2018. Jaguar was the world’s first manufacturer to introduce a premium all-electric SUV with the I-PACE and continues to be at the forefront of electrification innovation through its involvement in the FIA Formula E championship. Delivered through engineering and design creativity, customer-first culture. In order to provide information on a comparable basis for pre-Merger and post-Merger periods, the Partnership has included certain pro forma information for the three and six months ended June 30, 2018. The amounts reflected for the six months ended June 30, 2018 includes distributions to unitholders who elected to participate in a plan to forgo a portion of their future potential cash distributions on common units and reinvest those distributions in ETE Series A convertible preferred units representing limited partner interests in the Partnership for the six months ended June 30, 2018. Equity in earnings of unconsolidated affiliates: Total equity in earnings of unconsolidated affiliates. 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. For the three months ended June 30, 2019 compared to the same period last year, Segment Adjusted EBITDA related to our crude oil transportation and services segment increased due to the net impacts of the following: Adjusted EBITDA related to discontinued operations. At heart we are a British company, with two major design and engineering sites, three vehicle manufacturing facilities, an Engine Manufacturing Centre and soon to be opened Battery Assembly Centre. Distributable Cash Flow of non-wholly-owned subsidiaries reflects the total Distributable Cash Flow of our non-wholly-owned subsidiaries on an aggregated basis. Super secret sources are whispering to Bloomberg that Energy Transfer is seriously considering selling its 33% ownership stake in the 713-mile, 3.25 billion cubic feet per day of natural gas Rover Pipeline, a line that flows Utica Shale gas from Ohio into Michigan and all … Our proportionate share of Adjusted EBITDA of non-wholly-owned subsidiaries reflects the amount of Adjusted EBITDA of such subsidiaries (on an aggregated basis) that is attributable to our ownership interest. Energy Transfer Weighs Sale of Rover Pipeline Stake By . World EV Day is a global movement, a day of celebration of e-mobility, and a day to shift the transition to sustainable transport with consumer, business and policy outcomes. Transported volumes reflected an increase of 2,118 BBtu/d as a result of the following: the Rover pipeline being placed fully in-service in November 2018; production increases in the Haynesville Shale and deliveries to intrastate markets resulting in increased deliveries off of our Tiger pipeline; and increased utilization of higher contracted capacity on the Panhandle and Trunkline pipelines. Jaguar and Land Rover are partners of World EV Day. Transported volumes increased primarily due to the impact of the Red Bluff Express pipeline coming online in May 2018, as well as the impact of favorable market pricing spreads. Adjusted EBITDA reflects amounts for less than wholly-owned subsidiaries based on 100% of the subsidiaries’ results of operations and for unconsolidated affiliates based on our proportionate ownership. Monroe News - Monroe, Michigan ~ 20 W. First St., Monroe, MI 48161 ~ Do Not Sell My Personal Information ~ Cookie Policy ~ Do Not Sell My Personal Information ~ Privacy Policy ~ Terms Of Service ~ Your California Privacy Rights / Privacy Policy. HoldCo owns a 65% interest in Rover Pipeline LLC. For more information, visit the Sunoco LP website at www.sunocolp.com. We define Adjusted EBITDA as total partnership earnings before interest, taxes, depreciation, depletion, amortization and other non-cash items, such as non-cash compensation expense, gains and losses on disposals of assets, the allowance for equity funds used during construction, unrealized gains and losses on commodity risk management activities, inventory valuation adjustments, non-cash impairment charges, losses on extinguishments of debt and other non-operating income or expense items. Our vision is a world of sustainable, smart mobility: Destination Zero – zero emissions, zero accidents and zero congestion. For more information, visit the Energy Transfer LP website at www.energytransfer.com.
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