$EPD

ENTERPRISE PRODUCTS PARTNERS L.P.

CIK:0001061219|SEC Filings

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net income	$ 1,856	$ 1,454	$ 3,352	$ 2,860
Cash flow hedges: (see Note 13)
Total cash flow hedges	189	(49)	(162)	0
Total other comprehensive income (loss)	189	(49)	(162)	0
Comprehensive income	2,045	1,405	3,190	2,860
Comprehensive income attributable to noncontrolling interests	(15)	(18)	(28)	(30)
Comprehensive income attributable to preferred units	(1)	(1)	(2)	(2)
Comprehensive income attributable to common unitholders	2,029	1,386	3,160	2,828
Commodity Derivative Instruments
Cash flow hedges: (see Note 13)
Changes in fair value of cash flow hedges	7	0	(301)	22
Reclassification of losses (gains) to net income	184	(59)	143	(33)
Interest Rate Derivative Instruments
Cash flow hedges: (see Note 13)
Changes in fair value of cash flow hedges	0	12	0	14
Reclassification of losses (gains) to net income	$ (2)	$ (2)	$ (4)	$ (3)

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 3,352	$ 2,860
Reconciliation of net income to net cash flow provided by operating activities:
Depreciation and accretion	1,123	1,030
Amortization of intangible assets	117	104
Amortization of major maintenance costs for reaction-based plants	57	31
Amortization of finance lease right-of-use assets	3	1
Other amortization expense	126	114
Impairment of assets other than goodwill	17	21
Equity in income of unconsolidated affiliates	(185)	(186)
Distributions received from unconsolidated affiliates attributable to earnings	183	189
Net gains attributable to asset sales and related matters	(1)	(9)
Deferred income tax expense	19	16
Change in fair market value of derivative instruments	(31)	(10)
Non-cash expense related to long-term operating leases (see Note 16)	52	55
Net effect of changes in operating accounts (see Note 17)	(195)	153
Other operating activities	13	6
Net cash flow provided by operating activities	4,650	4,375
Investing activities:
Capital expenditures	(2,141)	(2,361)
Investments in unconsolidated affiliates	0	(1)
Distributions received from unconsolidated affiliates attributable to the return of capital	23	35
Proceeds from asset sales and other matters	599	15
Other investing activities	(16)	(9)
Net cash flow used in investing activities	(1,535)	(2,321)
Financing activities:
Borrowings under debt agreements	54,221	49,565
Repayments of debt	(55,396)	(48,720)
Debt issuance costs	(4)	(25)
Monetization of interest rate derivative instruments	0	14
Cash distributions paid to common unitholders (see Note 8)	(2,379)	(2,319)
Cash payments made in connection with distribution equivalent rights	(23)	(22)
Cash distributions paid to noncontrolling interests	(44)	(39)
Cash contributions from noncontrolling interests	1	5
Repurchase of common units under 2019 Buyback Program	(275)	(170)
Other financing activities	(116)	(85)
Net cash flow used in financing activities	(4,015)	(1,796)
Net change in cash and cash equivalents, including restricted cash	(900)	258
Cash and cash equivalents, including restricted cash, at beginning of period	1,245	838
Cash and cash equivalents, including restricted cash, at end of period	$ 345	$ 1,096

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 246	$ 969
Restricted cash	99	276
Inventories (see Note 3)	4,666	3,884
Derivative assets (see Note 13)	659	434
Prepaid and other current assets	832	1,302
Total current assets	15,905	13,360
Property, plant and equipment, net (see Note 4)	52,223	51,359
Investments in unconsolidated affiliates (see Note 5)	2,165	2,185
Intangible assets, net (see Note 6)	4,051	4,159
Goodwill (see Note 6)	5,712	5,712
Operating lease right-of-use assets, net (see Note 16)	758	437
Other assets	944	690
Total assets	81,758	77,902
Current liabilities:
Current maturities of debt (see Note 7)	2,023	1,625
Accrued product payables	11,683	8,183
Accrued interest	552	566
Derivative liabilities (see Note 13)	642	347
Current operating lease liabilities (see Note 16)	90	94
Other current liabilities	679	779
Total current liabilities	17,152	12,832
Long-term debt (see Note 7)	31,205	32,770
Deferred tax liabilities (see Note 15)	720	702
Long-term operating lease liabilities (see Note 16)	701	377
Other long-term liabilities	872	607
Commitments and contingent liabilities (see Note 16)
Redeemable preferred limited partner interests: (see Note 8)
Series A cumulative convertible preferred units (“preferred units”) (45,412 units outstanding at June 30, 2026 and December 31, 2025	44	44
Partners’ equity:
Common limited partner interests (2,159,477,169 units issued and outstanding at June 30, 2026, 2,161,760,683 units issued and outstanding at December 31, 2025	31,371	30,700
Treasury units, at cost	(1,297)	(1,297)
Accumulated other comprehensive income	174	336
Total partners’ equity	30,248	29,739
Noncontrolling interests in consolidated subsidiaries	816	831
Total equity	31,064	30,570
Total liabilities, preferred units, and equity	81,758	77,902
Nonrelated Party
Current assets:
Accounts receivable, net	9,401	6,494
Current liabilities:
Accounts payable	1,332	1,021
Related Party
Current assets:
Accounts receivable, net	2	1
Current liabilities:
Accounts payable	$ 151	$ 217