Investor Presentaiton
Non-GAAP Reconciliation
Energy Transfer LP
Reconciliation of Non-GAAP Measures
2019
2020
Full Year
Full Year
Q1
2021
Q2
Q3
Q4
Full Year
Q1
زل
2022
Q2
Q3
ENERGY
TRANSFER
YTD
Net income
Interest expense, net
Impairment losses
$
4,825
2,331
$
140
$
3,641
$
908
$
907
$
1,231
$
2,327
589
566
558
74
2,880
3
8
554
10
6,687
2,267
$
1,487
$
559
1,622
578
$
21
300
-
1,322
577
86
$
4,431
1,714
386
Income tax expense (benefit) from continuing operations
195
237
75
82
77
(50)
184
(9)
86
82
159
Depreciation, depletion and amortization
3,147
3,678
954
940
943
980
3,817
1,028
1,046
1,030
3,104
Non-cash compensation expense
113
121
28
27
26
30
111
36
(Gains) losses on interest rate derivatives
241
203
(194)
123
(1)
11
(61)
(114)
35
25
27
88
(129)
(60)
(303)
Unrealized (gains) losses on commodity risk management activities
5
71
(46)
(47)
19
(88)
(162)
45
(99)
(76)
(130)
Losses on extinguishments of debt
18
75
7
1
30
38
-
Inventory valuation adjustments (Sunoco LP)
(79)
82
(100)
(59)
(9)
(22)
(190)
(120)
(1)
40
(81)
Impairment of investment in unconsolidated affiliates
129
-
-
-
-
Equity in (earnings) losses of unconsolidated affiliates
(302)
(119)
(55)
(65)
(71)
(55)
(246)
(56)
(62)
(68)
(186)
Adjusted EBITDA related to unconsolidated affiliates
626
628
123
136
141
123
523
125
137
147
409
Other, net (including amounts related to discontinued operations in 2018)
(54)
79
15
(4)
(11)
57
57
59
25
(19)
65
Adjusted EBITDA (consolidated)
11,140
10,531
5,040
2,616
2,579
2,811
13,046
3,340
3,228
3,088
9,656
Adjusted EBITDA related to unconsolidated affiliates
(626)
(628)
(123)
(136)
(141)
(123)
(523)
(125)
(137)
(147)
(409)
Distributable Cash Flow from unconsolidated affiliates
415
452
76
89
103
78
346
86
82
102
270
Interest expense, net
Preferred unitholders' distributions
Current income tax (expense) benefit
Transaction-related income taxes
Maintenance capital expenditures
(2,331)
(2,327)
(589)
(566)
(558)
(554)
(2,267)
(559)
(578)
(577)
(1,714)
(253)
(378)
(96)
(99)
(110)
(113)
(418)
(118)
(117)
(118)
(353)
22
(27)
(9)
(15)
(10)
(10)
(44)
41
(11)
(31)
(1)
(31)
-
-
(42)
(42)
(655)
(520)
(76)
(140)
(155)
(210)
(581)
(118)
(162)
(247)
(527)
Other, net
85
74
19
17
14
18
68
5
7
5
17
Distributable Cash Flow (consolidated)
7,766
7,177
4,242
1,766
1,722
1,897
9,627
2,510
2,312
2,075
6,897
Distributable Cash Flow attributable to Sunoco LP (100%)
(450)
(516)
(108)
(145)
(146)
(143)
(542)
(142)
(159)
(195)
(496)
Distributions from Sunoco LP
165
165
41
42
41
41
165
41
42
41
124
Distributable Cash Flow attributable to USAC (100%)
(222)
(221)
(53)
(52)
(52)
(52)
(209)
(50)
(56)
(55)
(161)
Distributions from USAC
90
97
24
24
25
24
97
24
24
25
73
Distributable Cash Flow attributable to noncontrolling interests in other non-wholly-owned subsidiaries
Distributable Cash Flow attributable to the partners of Energy Transfer
(1,113)
(1,015)
(251)
(251)
(284)
(327)
(1,113)
(317)
(294)
(315)
(926)
6,236
5,687
3,895
1,384
1,306
1,440
8,025
2,066
1,869
1,576
5,511
Transaction-related adjustments
14
55
19
9
6
160
Distributable Cash Flow attributable to the partners of Energy Transfer, as adjusted
$
6,250
$
5,742
$
3,914
$
1,393
$
1,312
$
1,600
$
194
8,219
12
9
5
26
$
2,078
$
1,878
$
1,581
$
5,537
See definitions of non-GAAP measures on next slide
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