Tudor, Pickering, Holt & Co Investment Banking
After-Tax Distribution Supplemental Calculation
For AMGP Shareholder
(3)
AMGP Taxable income
(-) Less Income Taxes
Current Earnings & Profits
Current Dist. from AMGP to Shareholders
Qualified Dividend
Full Return of Capital Amt (RoC)
Qualified Dividend
Partial RoC (3)
Accumulated EGP
Percentage RoC
Percentage QD
(2)
Shares Outstanding
Tax Basis / Share
(-) Return of Capital
EOY Basis
Roc Taxes
QD Taxes
BTAX AMGP Dist. Per Share
Total Tax per Share
Implied Tax Rate
ATAX AMGP Dist. Per Share
SQ AMGP After-Tax Distribution Calculation
2H 2018E
$79
($19)
$59
$57
QD
$0
$57
$0
0.0%
100.0%
186.2
$0.00
50.00
$0.00
$0.00
$0.07
$0.31
$0.07
$0.23
2019E
$226
($56)
$170
$166
QD
50
$166
50
0.0%
100.0%
186.2
$0.00
$0.00
$0.00
$0.00
$0.21
$0.89
$0.21
$0.68
2020E
$340
(585)
$255
$251
50
$251
50
0.0%
100.0%
186.2
$0.00
50.00
$0.00
$0.00
$0.32
$1.35
$0.32
23.8%
$1.03
Source: Management projections and Facet as of 8/30/2018.
Return of capital per share / unit calculated as the total distributions to holders when Current Earings & Profits are less than 0.
Qualified dividend calculated as equal to the lesser of Current Earings & Profits or Distributions from AMGP to Shareholders assuming Current Lamings & Profit is greater than 0.
Partial Return of Capital is calculated as the difference between Distributions from AMGP to Shareholders and Current Earings & Profits assuming Qualified Dividends are
applicable.
2021E
$440
($111)
$330
$326
QD
$0
$326
$0
100.0%
186.2
$0.00
$0.00
$0.00
$0.00
$0.42
$1.75
$0.42
$1.33
2022E
$561
($141)
$420
$416
QD
$0
$416
$0
0.0%
100.0%
186.2
$0.00
$0.00
$0.00
$0.00
$0.53
$2.23
$0.53
$1.70
CONFIDENTIAL DRAFT
SUBJECT TO CHANGE
TUDORPICKERING
HOLT&COCHANT BANKING
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