ENTERPRISE PRODUCTS PARTNERS LP
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
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6. Intangible Assets and Goodwill
Note 6. Intangible Assets and Goodwill
Identifiable Intangible Assets
The following table summarizes our intangible assets by business segment at the dates indicated:
| September 30, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| GrossValue | AccumulatedAmortization | CarryingValue | GrossValue | AccumulatedAmortization | CarryingValue | |
| NGL Pipelines & Services: | ||||||
| Customer relationship intangibles | $449 | $(273) | $176 | $449 | $(263) | $186 |
| Contract-based intangibles | 754 | (133) | 621 | 752 | (110) | 642 |
| Segment total | 1,203 | (406) | 797 | 1,201 | (373) | 828 |
| Crude Oil Pipelines & Services: | ||||||
| Customer relationship intangibles | 2,195 | (606) | 1,589 | 2,195 | (530) | 1,665 |
| Contract-based intangibles | 283 | (277) | 6 | 283 | (275) | 8 |
| Segment total | 2,478 | (883) | 1,595 | 2,478 | (805) | 1,673 |
| Natural Gas Pipelines & Services: | ||||||
| Customer relationship intangibles | 1,351 | (653) | 698 | 1,351 | (625) | 726 |
| Contract-based intangibles | 643 | (220) | 423 | 641 | (209) | 432 |
| Segment total | 1,994 | (873) | 1,121 | 1,992 | (834) | 1,158 |
| Petrochemical & Refined Products Services: | ||||||
| Customer relationship intangibles | 181 | (90) | 91 | 181 | (86) | 95 |
| Contract-based intangibles | 45 | (30) | 15 | 45 | (29) | 16 |
| Segment total | 226 | (120) | 106 | 226 | (115) | 111 |
| Total intangible assets | $5,901 | $(2,282) | $3,619 | $5,897 | $(2,127) | $3,770 |
The following table presents the amortization expense of our intangible assets by business segment for the periods indicated:
| For the Three MonthsEnded September 30, | For the Nine MonthsEnded September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| NGL Pipelines & Services | $12 | $10 | $33 | $29 |
| Crude Oil Pipelines & Services | 27 | 28 | 78 | 76 |
| Natural Gas Pipelines & Services | 13 | 12 | 39 | 37 |
| Petrochemical & Refined Products Services | 2 | 2 | 5 | 6 |
| Total | $54 | $52 | $155 | $148 |
The following table presents our forecast of amortization expense associated with existing intangible assets for the periods indicated:
| Remainderof 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| $53 | $209 | $203 | $185 | $181 |
Goodwill
Goodwill represents the excess of the purchase price of an acquired business over the amounts assigned to assets acquired and liabilities assumed in the transaction. There has been no change in our goodwill amounts since those reported in our 2023 Form 10-K.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.