Sunoco LP
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
SUN$62.70+1.6%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
Consolidated Statements of Equity
| Balance at December 31, 2020 | $632 |
|---|---|
| Cash distribution to unitholders, including incentive distributions | (357) |
| Unit-based compensation | 16 |
| Other | (4) |
| Net income | 524 |
| Balance at December 31, 2021 | 811 |
| Cash distribution to unitholders, including incentive distributions | (359) |
| Unit-based compensation | 14 |
| Other | 1 |
| Net income | 475 |
| Balance at December 31, 2022 | 942 |
| Cash distribution to unitholders, including incentive distributions | (371) |
| Unit-based compensation | 17 |
| Other | (4) |
| Net income | 394 |
| Balance at December 31, 2023 | $978 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| OPERATING ACTIVITIES: | |||
| Net income | $394 | $475 | $524 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 187 | 193 | 177 |
| Amortization of deferred financing fees | 8 | 7 | 7 |
| Gain on disposal of assets | (7) | (13) | (14) |
| Loss on extinguishment of debt | — | — | 36 |
| Non-cash unit-based compensation expense | 17 | 14 | 16 |
| Deferred income tax | 13 | 28 | 10 |
| Inventory adjustments | 114 | (5) | (190) |
| Equity in earnings of unconsolidated affiliates | (5) | (4) | (4) |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | 34 | (312) | (231) |
| Receivables from affiliates | (5) | (3) | (1) |
| Inventories | (182) | (172) | 38 |
| Other assets | 47 | (94) | (95) |
| Accounts payable | (101) | 390 | 296 |
| Accounts payable to affiliates | 61 | 50 | (20) |
| Accrued expenses and other current liabilities | 43 | — | 9 |
| Other non-current liabilities | (18) | 7 | (15) |
| Net cash provided by operating activities | 600 | 561 | 543 |
| INVESTING ACTIVITIES: | |||
| Capital expenditures | (215) | (186) | (174) |
| Distributions from unconsolidated affiliates in excess of cumulative earnings | 9 | 8 | 9 |
| Cash paid for acquisitions, net of cash acquired | (111) | (318) | (256) |
| Proceeds from disposal of property and equipment | 31 | 32 | 34 |
| Other | (2) | — | — |
| Net cash used in investing activities | (288) | (464) | (387) |
| FINANCING ACTIVITIES: | |||
| Senior Notes borrowings | 500 | — | 800 |
| Senior Notes repayments | — | — | (1,252) |
| Credit Facility borrowings | 3,283 | 4,127 | 1,922 |
| Credit Facility repayments | (3,772) | (3,808) | (1,341) |
| Loan origination costs | (5) | — | — |
| Cash distribution to unitholders, including incentive distributions | (371) | (359) | (357) |
| Net cash used in financing activities | (365) | (40) | (228) |
| Net increase (decrease) in cash and cash equivalents | (53) | 57 | (72) |
| Cash and cash equivalents at beginning of period | 82 | 25 | 97 |
| Cash and cash equivalents at end of period | $29 | $82 | $25 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING ACTIVITIES: | |||
| Change in note payable to affiliate | $2 | $6 | $4 |
| Payable due to seller in acquisition | — | 10 | — |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Interest paid | 202 | 176 | 174 |
| Income taxes paid, net | 29 | 30 | 14 |
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