Energy Transfer LP
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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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, 2025 · Filed Nov 6, 2025
ET$19.09+0.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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6. Net Income per Common Unit
- NET INCOME PER COMMON UNIT
A reconciliation of income or loss and weighted average units used in computing basic and diluted income per common unit is as follows:
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net income | $1,292 | $1,434 | $4,470 | $5,118 |
| Less: Net income attributable to noncontrolling interests | 259 | 238 | 918 | 1,337 |
| Less: Net income attributable to redeemable noncontrolling interests | 14 | 13 | 47 | 44 |
| Net income, net of noncontrolling interests | 1,019 | 1,183 | 3,505 | 3,737 |
| Less: General Partner’s interest in net income | 1 | 1 | 3 | 3 |
| Less: Preferred Unitholders’ interest in net income | 59 | 67 | 189 | 294 |
| Less: Loss on redemption of preferred units | — | — | 8 | 54 |
| Common Unitholders’ interest in net income | $959 | $1,115 | $3,305 | $3,386 |
| Basic Income per Common Unit: | ||||
| Weighted average common units | 3,433.0 | 3,415.2 | 3,432.2 | 3,384.9 |
| Basic income per common unit | $0.28 | $0.33 | $0.96 | $1.00 |
| Diluted Income per Common Unit: | ||||
| Common Unitholders’ interest in net income | $959 | $1,115 | $3,305 | $3,386 |
| Dilutive effect of equity-based compensation of subsidiaries (1) | — | — | — | 1 |
| Diluted income attributable to Common Unitholders | $959 | $1,115 | $3,305 | $3,385 |
| Weighted average common units | 3,433.0 | 3,415.2 | 3,432.2 | 3,384.9 |
| Dilutive effect of unvested restricted unit awards (1) | 23.1 | 26.0 | 23.9 | 25.8 |
| Weighted average common units, assuming dilutive effect of unvested restricted unit awards | 3,456.1 | 3,441.2 | 3,456.1 | 3,410.7 |
| Diluted income per common unit | $0.28 | $0.32 | $0.96 | $0.99 |
(1)Dilutive effects are excluded from the calculation for periods where the impact would have been antidilutive.
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