Energy Transfer LP
For the period ended Mar 31, 2024. Filed May 9, 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.
Mar 31, 2024 · Filed May 9, 2024
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3. Cash and Cash Equivalents
- CASH AND CASH EQUIVALENTS
Cash and cash equivalents include all cash on hand, demand deposits and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. The Partnership’s consolidated balance sheets did not include any material amounts of restricted cash as of March 31, 2024 or December 31, 2023.
We place our cash deposits and temporary cash investments with high credit quality financial institutions. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limit.
The net change in operating assets and liabilities, net of effects of acquisitions and divestitures, included in cash flows from operating activities is comprised as follows:
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Accounts receivable | $(614) | $197 |
| Accounts receivable from related companies | (246) | (3) |
| Inventories | 311 | 429 |
| Other current assets | 79 | 188 |
| Other non-current assets, net | (76) | (4) |
| Accounts payable | 883 | (18) |
| Accounts payable to related companies | 251 | (11) |
| Accrued and other current liabilities | 274 | (13) |
| Other non-current liabilities | (34) | 31 |
| Derivative assets and liabilities, net | 45 | 5 |
| Net change in operating assets and liabilities, net of effects of acquisitions and divestitures | $873 | $801 |
Non-cash investing and financing activities were as follows:
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Accrued capital expenditures | $421 | $436 |
| Lease assets obtained in exchange for new lease liabilities | 30 | 1 |
| Distribution reinvestment | 22 | 23 |
| USAC government securities transferred in connection with the legal defeasance of USAC senior notes due 2026 | 749 | — |
| Legal defeasance of USAC senior notes due 2026 | 725 | — |
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