Energy Transfer LP
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
ET$19.43+1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| OPERATING ACTIVITIES: | |||
| Net income | $5,294 | $5,868 | $6,687 |
| Reconciliation of net income to net cash provided by operating activities: | |||
| Depreciation, depletion and amortization | 4,385 | 4,164 | 3,817 |
| Deferred income taxes | 203 | 187 | 141 |
| Inventory valuation adjustments | 114 | (5) | (190) |
| Non-cash compensation expense | 130 | 115 | 111 |
| Impairment losses | 12 | 386 | 21 |
| (Gains) losses on extinguishments of debt | (2) | — | 38 |
| Distributions on unvested awards | (68) | (73) | (47) |
| Equity in earnings of unconsolidated affiliates | (383) | (257) | (246) |
| Distributions from unconsolidated affiliates | 353 | 232 | 212 |
| Other non-cash | (32) | (64) | 103 |
| Net change in operating assets and liabilities, net of effects of acquisitions | (451) | (1,502) | 515 |
| Net cash provided by operating activities | 9,555 | 9,051 | 11,162 |
| INVESTING ACTIVITIES: | |||
| Cash paid for Crestwood acquisition, net of cash received | (288) | — | — |
| Cash paid for Lotus Midstream acquisition, net of cash received | (930) | — | — |
| Cash paid for other acquisitions, net of cash received | (111) | (1,141) | (205) |
| Capital expenditures, excluding allowance for equity funds used during construction | (3,134) | (3,381) | (2,822) |
| Contributions in aid of construction costs | 40 | 56 | 43 |
| Contributions to unconsolidated affiliates | (6) | — | (4) |
| Distributions from unconsolidated affiliates in excess of cumulative earnings | 63 | 62 | 167 |
| Proceeds from sale of Energy Transfer Canada interest | — | 302 | — |
| Proceeds from sales of other assets | 38 | 78 | 45 |
| Other | 3 | 2 | 1 |
| Net cash used in investing activities | (4,325) | (4,022) | (2,775) |
| FINANCING ACTIVITIES: | |||
| Proceeds from borrowings | 32,130 | 28,838 | 21,267 |
| Repayments of debt | (31,416) | (29,681) | (27,318) |
| Preferred units issued for cash | — | — | 889 |
| Capital contributions from noncontrolling interests | 3 | 405 | 226 |
| Distributions to partners | (4,248) | (3,047) | (1,898) |
| Distributions to noncontrolling interests | (1,691) | (1,547) | (1,487) |
| Distributions to redeemable noncontrolling interests | (59) | (49) | (49) |
| Common units repurchased under buyback program | — | — | (31) |
| Debt issuance costs | (45) | (27) | (14) |
| Other | — | — | (3) |
| Net cash used in financing activities | (5,326) | (5,108) | (8,418) |
| Decrease in cash and cash equivalents | (96) | (79) | (31) |
| Cash and cash equivalents, beginning of period | 257 | 336 | 367 |
| Cash and cash equivalents, end of period | $161 | $257 | $336 |
F - 9
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