EL PASO NATURAL GAS CO LLC

CIK:0000031986|SEC Filings

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Condensed Consolidated Statements of Income and Comprehensive Income [Abstract]
Operating revenues	$ 131	$ 124
Operating expenses
Operation and maintenance	53	46
Depreciation and amortization	23	23
Taxes, other than income taxes	8	8
Total operating expenses	84	77
Operating income	47	47
Other income	1	1
Interest and debt expense	(22)	(22)
Affiliated interest income, net	5	3
Income before income taxes	31	29
Income tax expense	12	11
Net income	19	18
Other comprehensive income
Unrealized actuarial gains on postretirement benefit obligations	0	0
Comprehensive income	$ 19	$ 18

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash flows from operating activities
Net income	$ 19	$ 18
Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization	23	23
Deferred income tax expense	10	1
Other non-cash income items	(2)	9
Asset and liability changes	33	24
Net cash provided by operating activities	83	75
Cash flows from investing activities
Capital expenditures	(12)	(23)
Net change in note receivable from affiliate	(5)	(31)
Net cash used in investing activities	(17)	(54)
Cash flows from financing activities
Dividends paid to parent	(60)	(21)
Net cash used in financing activities	(60)	(21)
Net change in cash and cash equivalents	6	0
Cash and cash equivalents
Beginning of period	0	0
End of period	$ 6	$ 0

Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Millions, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Current assets
Cash and cash equivalents	$ 6	$ 0
Accounts and note receivable
Customer, net of allowance	10	3
Affiliates	2	3
Other	21	24
Materials and supplies	49	48
Deferred income taxes	12	12
Prepaids	11	16
Regulatory assets	8	8
Other	1	0
Total current assets	120	114
Property, plant and equipment, at cost	3,971	3,993
Less accumulated depreciation and amortization	1,535	1,525
Total property, plant and equipment, net	2,436	2,468
Other long-term assets
Note receivable from affiliate	878	873
Other	101	101
Total other long-term assets	979	974
Total assets	3,535	3,556
Accounts payable
Trade	63	68
Affiliates	15	20
Other	11	9
Taxes payable	32	35
Accrued interest	29	19
Accrued liabilities	30	29
Regulatory liabilities	14	16
Contractual deposits	21	21
Other	6	6
Total current liabilities	221	223
Long-term debt	1,113	1,113
Other long-term liabilities
Deferred income taxes	449	439
Other	90	78
Total other long-term liabilities	539	517
Commitments and contingencies (Note 3)
Stockholder's equity
Common stock, par value $1 per share; 1,000 shares authorized, issued and outstanding	0	0
Additional paid-in capital	1,268	1,268
Retained earnings	391	432
Accumulated other comprehensive income	3	3
Total stockholder's equity	1,662	1,703
Total liabilities and stockholder's equity	$ 3,535	$ 3,556