Investor Presentaiton
Non-GAAP Reconciliation
Energy Transfer LP
Reconciliation of Non-GAAP Measures*
2020
2021
Full Year
Full Year
Q1
Q2
2022
Q3
Q4
Full Year
ՈՐ
ENERGY
TRANSFER
2023
Year
Q1
Q2
To Date
Net income
Interest expense, net
Impairment losses and other
$
140
6,687
$
1,487
$
SA
1,622
$
2,327
2,267
559
578
1,322
577
$
1,437
592
$
5,868
$
1,447
$
2,306
619
1,233
641
$
2,680
1,260
2,880
21
300
86
386
1
10
11
Income tax expense (benefit) from continuing operations
237
184
(9)
86
82
45
204
71
108
179
5
Depreciation, depletion and amortization
3,678
3,817
1,028
1,046
1,030
1,060
4,164
1,059
1,061
2,120
Non-cash compensation expense
121
111
36
25
27
27
115
37
(Gains) losses on interest rate derivatives
203
(61)
(114)
(129)
(60)
10
(293)
20
Unrealized (gains) losses on commodity risk management activities
71
(162)
45
(99)
(76)
88
(42)
130
Losses on extinguishments of debt
75
38
Inventory valuation adjustments (Sunoco LP)
82
(190)
(120)
(1)
40
76
16
(5)
(29)
གྲྭ་ཆྱེསྐྱེབ
64
(35)
(15)
(55)
75
28
Impairment of investment in unconsolidated affiliates
129
-
Equity in (earnings) losses of unconsolidated affiliates
(119)
(246)
(56)
(62)
(68)
(71)
(257)
(88)
(95)
(183)
Adjusted EBITDA related to unconsolidated affiliates
628
523
125
137
147
156
565
161
171
332
Other, net (including amounts related to discontinued operations in 2018)
79
57
59
25
(19)
17
82
5
(1)
4
Adjusted EBITDA (consolidated)
10,531
13,046
3,340
3,228
3,088
3,437
13,093
3,433
3,122
6,555
Adjusted EBITDA related to unconsolidated affiliates
(628)
(523)
(125)
(137)
(147)
(156)
(565)
(161)
(171)
(332)
Distributable Cash Flow from unconsolidated affiliates
452
346
86
82
102
89
359
118
115
233
Interest expense, net
Preferred unitholders' distributions
Current income tax (expense) benefit
Transaction-related income taxes
Maintenance capital expenditures
(2,327)
(2,267)
(559)
(578)
(577)
(592)
(2,306)
(619)
(641)
(1,260)
(378)
(418)
(118)
(117)
(118)
(118)
(471)
(120)
(127)
(247)
(27)
(44)
41
(11)
(31)
(17)
(18)
(18)
(26)
(44)
(42)
-
(42)
(520)
(581)
(118)
(162)
(247)
(294)
(821)
(162)
(237)
(399)
Other, net
74
68
5
7
5
3
20
5
5
10
Distributable Cash Flow (consolidated)
7,177
9,627
2,510
2,312
2,075
2,352
9,249
2,476
2,040
4,516
Distributable Cash Flow attributable to Sunoco LP (100%)
(516)
(542)
(142)
(159)
(195)
(152)
(648)
(160)
(173)
(333)
Distributions from Sunoco LP
165
165
41
42
41
42
166
43
44
87
Distributable Cash Flow attributable to USAC (100%)
(221)
(209)
(50)
(56)
(55)
(60)
(221)
(63)
(67)
(130)
Distributions from USAC
97
97
24
24
25
24
97
24
24
48
Distributable Cash Flow attributable to noncontrolling interests in other non-wholly-owned subsidiaries
Distributable Cash Flow attributable to the partners of Energy Transfer
(1,015)
(1,113)
(317)
(294)
(315)
(314)
5,687
8,025
2,066
1,869
1,576
1,892
(1,240)
7,403
(314)
(324)
(638)
2,006
1,544
3,550
Transaction-related adjustments
55
194
12
9
5
18
Distributable Cash Flow attributable to the partners of Energy Transfer, as adjusted
$
5,742
$
8,219
$
2,078
$
1,878
$
1,581
$
1,910
$
44
7,447
2
10
12
$
2,008
$
1,554
$
3,562
44
See definitions of non-GAAP measures on next slideView entire presentation