Energy Transfer LP

For the period ended Dec 31, 2024. Filed Feb 14, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 14, 2025

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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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2024	2023	2022
OPERATING ACTIVITIES:
Net income	$6,565	$5,294	$5,868
Reconciliation of net income to net cash provided by operating activities:
Depreciation, depletion and amortization	5,165	4,385	4,164
Deferred income taxes	276	203	187
Inventory valuation adjustments	86	114	(5)
Non-cash compensation expense	151	130	115
Impairment losses	52	12	386
Other non-cash	63	(32)	(64)
Equity in earnings of unconsolidated affiliates	(379)	(383)	(257)
Gain on sale of Sunoco LP West Texas assets	(586)	—	—
(Gains) losses on extinguishments of debt	12	(2)	—
Distributions from unconsolidated affiliates	356	353	232
Distributions on unvested awards	(59)	(68)	(73)
Net change in operating assets and liabilities, net of effects of acquisitions and divestitures	(196)	(451)	(1,502)
Net cash provided by operating activities	11,506	9,555	9,051
INVESTING ACTIVITIES:
Cash paid for WTG Midstream acquisition, net of cash received	(2,174)	—	—
Cash paid for Edwards Lime Gathering, LLC noncontrolling interest	(84)	—	—
Cash received by Sunoco LP from NuStar acquisition	27	—	—
Cash paid for Lotus Midstream acquisition, net of cash received	—	(930)	—
Cash paid for Crestwood acquisition, net of cash received	—	(288)	—
Cash paid for other acquisitions, net of cash received	(250)	(111)	(1,141)
Cash paid by Sunoco LP for acquisitions of terminals and other assets, net of cash received	(224)	—	—
Capital expenditures, excluding allowance for equity funds used during construction	(4,164)	(3,134)	(3,381)
Contributions in aid of construction costs	73	40	56
Contributions to unconsolidated affiliates	(206)	(6)	—
Distributions from unconsolidated affiliates in excess of cumulative earnings	75	63	62
Proceeds from sale of Sunoco LP West Texas assets	987	—	—
Proceeds from sale of Energy Transfer Canada interest	—	—	302
Proceeds from sales of other assets	24	38	78
Other, net	12	3	2
Net cash used in investing activities	(5,904)	(4,325)	(4,022)
FINANCING ACTIVITIES:
Proceeds from borrowings	34,150	32,130	28,838
Repayments of debt	(29,409)	(31,416)	(29,681)
USAC investments in government securities in connection with the legal defeasance of senior notes	(749)	—	—
Redemption of Series A, Series C, Series D and Series E Preferred Units	(2,645)	—	—
Sunoco LP redemption of NuStar preferred units	(784)	—	—
Redemption of Crestwood Niobrara LLC preferred units	(37)	—	—
Capital contributions from noncontrolling interests	638	3	405
Capital contributions from redeemable noncontrolling interests	2	—	—
Distributions to partners	(4,623)	(4,248)	(3,047)
Distributions to noncontrolling interests	(1,780)	(1,691)	(1,547)
Distributions to redeemable noncontrolling interests	(67)	(59)	(49)

F - 9

Debt issuance costs	(147)	(45)	(27)
Net cash used in financing activities	(5,451)	(5,326)	(5,108)
Increase (decrease) in cash and cash equivalents	151	(96)	(79)
Cash and cash equivalents, beginning of period	161	257	336
Cash and cash equivalents, end of period	$312	$161	$257

F - 10

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