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
ET$19.09+0.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
FORM 10-Q
TABLE OF CONTENTS
| PART I — FINANCIAL INFORMATION | |
|---|---|
| ITEM 1. FINANCIAL STATEMENTS (Unaudited) | |
| Consolidated Balance Sheets | 4 |
| Consolidated Statements of Operations | 6 |
| Consolidated Statements of Comprehensive Income | 7 |
| Consolidated Statements of Equity | 8 |
| Consolidated Statements of Cash Flows | 9 |
| Notes to Consolidated Financial Statements | 10 |
| 1. Organization and Basis of Presentation | 10 |
| 2. Acquisitions and Divestitures | 10 |
| 3. Cash and Cash Equivalents | 11 |
| 4. Inventories | 12 |
| 5. Fair Value Measures | 12 |
| 6. Net Income per Common Unit | 15 |
| 7. Debt Obligations | 15 |
| 8. Redeemable Noncontrolling Interests | 17 |
| 9. Equity | 17 |
| 10. Regulatory Matters, Commitments, Contingencies and Environmental Liabilities | 19 |
| 11. Revenue | 31 |
| 12. Derivative Assets and Liabilities | 32 |
| 13. Reportable Segments | 37 |
| ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 40 |
| Recent Developments | 40 |
| Results of Operations | 42 |
| Liquidity and Capital Resources | 52 |
| Cash Distributions | 56 |
| ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 60 |
| ITEM 4. CONTROLS AND PROCEDURES | 62 |
| PART II — OTHER INFORMATION | |
| ITEM 1. LEGAL PROCEEDINGS | 63 |
| ITEM 1A. RISK FACTORS | 63 |
| ITEM 6. EXHIBITS | 66 |
| SIGNATURE | 67 |
Definitions
References to the “Partnership” or “Energy Transfer” refer to Energy Transfer LP. In addition, the following is a list of certain acronyms and terms used throughout this document:
| /d | per day |
|---|---|
| AOCI | accumulated other comprehensive income |
| BBtu | billion British thermal units |
| Citrus | Citrus, LLC, a 50/50 joint venture which owns Florida Gas Transmission Company, LLC, which owns the Florida Gas Transmission Pipeline |
| Crestwood | Crestwood Equity Partners LP, which was acquired by Energy Transfer in November 2023 |
| Dakota Access | Dakota Access, LLC, a non-wholly owned subsidiary of Energy Transfer and/or Dakota Access Pipeline |
| Energy Transfer Preferred Units | Collectively, the Series A Preferred Units, Series B Preferred Units, Series C Preferred Units, Series D Preferred Units, Series E Preferred Units, Series F Preferred Units, Series G Preferred Units, Series H Preferred Units and Series I Preferred Units |
| Energy Transfer R&M | Energy Transfer (R&M), LLC (formerly Sunoco (R&M), LLC) |
| ETC Sunoco | ETC Sunoco Holdings LLC (formerly Sunoco, Inc.), a wholly owned subsidiary of Energy Transfer |
| ETO | Energy Transfer Operating, L.P., formerly a non-wholly owned subsidiary of Energy Transfer until its merger into the Partnership in April 2021 |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| Explorer | Explorer Pipeline Company |
| FERC | Federal Energy Regulatory Commission |
| GAAP | accounting principles generally accepted in the United States of America |
| General Partner | LE GP, LLC, the general partner of Energy Transfer |
| IFERC | Inside FERC’s Gas Market Report |
| MBbls | thousand barrels |
| MEP | Midcontinent Express Pipeline LLC |
| NGL | natural gas liquid, such as propane, butane and natural gasoline |
| NYMEX | New York Mercantile Exchange |
| OTC | over-the-counter |
| Panhandle | Panhandle Eastern Pipe Line Company, LP, a wholly owned subsidiary of Energy Transfer and/or Panhandle Eastern Pipe Line |
| Partnership Agreement | Energy Transfer’s Fourth Amended and Restated Agreement of Limited Partnership, as amended to date |
| PHMSA | Pipeline and Hazardous Materials Safety Administration |
| Rover | Rover Pipeline LLC, a non-wholly owned subsidiary of Energy Transfer and/or Rover Pipeline |
| Sea Robin | Sea Robin Pipeline Company, LLC, a wholly owned subsidiary of Energy Transfer |
| SEC | Securities and Exchange Commission |
| Series A Preferred Units | Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
| Series B Preferred Units | Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
| Series C Preferred Units | Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
| Series D Preferred Units | Series D Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
| Series E Preferred Units | Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
| Series F Preferred Units | Series F Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units |
| Series G Preferred Units | Series G Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units |
| Series H Preferred Units | Series H Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units |
| Series I Preferred Units | Series I Fixed-Rate Perpetual Preferred Units |
| SOFR | Secured overnight financing rate |
| SPLP | Sunoco Pipeline L.P., a wholly owned subsidiary of Energy Transfer |
| Transwestern | Transwestern Pipeline Company, LLC, a wholly owned subsidiary of Energy Transfer and/or Transwestern Pipeline |
| USAC | USA Compression Partners, LP, a publicly traded partnership and consolidated subsidiary of Energy Transfer |
| White Cliffs | White Cliffs Pipeline, L.L.C. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.