$ET-PI

Energy Transfer Equity, L.P.

CIK:0001276187|SEC Filings

Consolidated Statements Of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
REVENUES:
Total revenues	$ 34,334	$ 19,242	$ 62,105	$ 40,262
COSTS AND EXPENSES:
Cost of products sold	26,936	13,946	48,085	29,517
Operating expenses	1,828	1,343	3,523	2,642
Depreciation, depletion and amortization	1,575	1,384	3,158	2,751
Selling, general and administrative	421	257	782	545
Impairment losses	0	3	0	7
Total costs and expenses	30,760	16,933	55,548	35,462
OPERATING INCOME	3,574	2,309	6,557	4,800
OTHER INCOME (EXPENSE):
Interest expense, net of interest capitalized	(934)	(865)	(1,881)	(1,674)
Equity in earnings of unconsolidated affiliates	108	105	218	197
Losses on extinguishments of debt	0	(17)	(7)	(19)
Other, net	(24)	5	(52)	(6)
INCOME BEFORE INCOME TAX EXPENSE	2,724	1,537	4,835	3,298
Income tax expense	194	79	329	120
Net income	2,530	1,458	4,506	3,178
Less: Net income attributable to noncontrolling interests	432	275	1,147	659
Less: Net income attributable to redeemable noncontrolling interests	10	20	17	33
NET INCOME ATTRIBUTABLE TO PARTNERS	2,088	1,163	3,342	2,486
Less: General Partner’s interest in net income	2	1	3	2
Less: Preferred Unitholders’ interest in net income	59	63	118	130
Preferred Stock Redemption Premium	0	8	0	8
Common Unitholders’ interest in net income	$ 2,027	$ 1,091	$ 3,221	$ 2,346
NET INCOME PER COMMON UNIT:
Basic (in dollars per unit)	$ 0.59	$ 0.32	$ 0.94	$ 0.68
Diluted (in dollars per unit)	$ 0.59	$ 0.32	$ 0.93	$ 0.68
Crude sales
REVENUES:
Total revenues	$ 10,303	$ 5,024	$ 17,297	$ 10,473
NGL sales
REVENUES:
Total revenues	5,739	4,500	10,867	10,142
Gathering, transportation and other fees
REVENUES:
Total revenues	3,291	3,080	6,552	6,085
Natural gas sales
REVENUES:
Total revenues	400	1,058	1,878	2,639
Other
REVENUES:
Total revenues	759	405	1,397	785
Refined product sales
REVENUES:
Total revenues	$ 13,842	$ 5,175	$ 24,114	$ 10,138

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES:
Net income	$ 4,506	$ 3,178
Reconciliation of net income to net cash provided by operating activities:
Depreciation, depletion and amortization	3,158	2,751
Deferred income tax expense	167	7
Inventory valuation adjustments	(426)	(21)
Non-cash compensation expense	88	70
Impairment losses	0	7
Other non-cash	40	23
Equity in earnings of unconsolidated affiliates	(218)	(197)
Losses on extinguishments of debt	7	19
Distributions from unconsolidated affiliates	125	165
Distributions on unvested awards	(26)	(26)
Net change in operating assets and liabilities, net of effects of acquisitions	228	(297)
Net cash provided by operating activities	7,649	5,679
INVESTING ACTIVITIES:
Capital expenditures, excluding allowance for equity funds used during construction	(3,480)	(2,883)
Contributions in aid of construction costs	29	26
Contributions to unconsolidated affiliates	(30)	(4)
Distributions from unconsolidated affiliates in excess of cumulative earnings	79	56
Proceeds from Sale of Other Assets, Investing Activities	8	0
Other, net	46	10
Net cash used in investing activities	(4,134)	(2,899)
FINANCING ACTIVITIES:
Proceeds from borrowings	24,053	16,146
Repayments of debt	(24,284)	(15,126)
Capital contributions from noncontrolling interests	1	5
Capital contributions from redeemable noncontrolling interests	6	0
Distributions to partners	(2,409)	(2,354)
Distributions to noncontrolling interests	(1,068)	(934)
Distributions to redeemable noncontrolling interests	(17)	(34)
Debt issuance costs	(49)	(53)
Net cash used in financing activities	(3,767)	(2,850)
Net change in cash and cash equivalents	(252)	(70)
Cash and cash equivalents, beginning of period	1,272	312
Cash and cash equivalents, end of period	1,020	242
Payments for Repurchase of Redeemable Preferred Stock	0	(500)
JW Power
INVESTING ACTIVITIES:
Cash paid for acquisition, net of cash received	(445)	0
TanQuid
INVESTING ACTIVITIES:
Cash paid for acquisition, net of cash received	(194)	0
Other acquisitions
INVESTING ACTIVITIES:
Cash paid for acquisition, net of cash received	(72)	(104)
Delta Acquisition
INVESTING ACTIVITIES:
Cash paid for acquisition, net of cash received	$ (75)	$ 0

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 1,020	$ 1,272
Accounts receivable, net	16,818	11,275
Accounts receivable from related companies	223	119
Inventories	4,385	4,770
Income taxes receivable	28	57
Derivative assets	12	52
Other current assets	627	688
Total current assets	23,113	18,233
Property, plant and equipment	146,073	141,283
Accumulated depreciation and depletion	(41,977)	(39,141)
Property, plant and equipment, net	104,096	102,142
Investments in unconsolidated affiliates	3,637	3,589
Lease right-of-use assets, net	1,939	1,841
Other non-current assets, net	2,615	2,591
Intangible assets, net	7,160	7,438
Goodwill	5,608	5,452
Total assets	148,168	141,286
LIABILITIES AND EQUITY
Derivative liabilities	8	10
Operating lease current liabilities	215	245
Accrued and other current liabilities	5,856	5,165
Current maturities of long-term debt	12	25
Total current liabilities	19,858	14,955
Long-term debt, less current maturities	68,393	68,308
Non-current operating lease liabilities	1,621	1,515
Deferred income taxes	5,572	5,307
Other non-current liabilities	1,946	1,941
Commitments and contingencies
Redeemable noncontrolling interests	256	250
Limited Partners:
Preferred Unitholders	3,356	3,356
Common Unitholders	31,927	30,930
General Partner	(1)	(2)
Accumulated other comprehensive income	49	82
Total partners’ capital	35,331	34,366
Noncontrolling interests	15,191	14,644
Total equity	50,522	49,010
Total liabilities and equity	148,168	141,286
Nonrelated Party
LIABILITIES AND EQUITY
Accounts payable	13,720	9,469
Related Party
LIABILITIES AND EQUITY
Accounts payable	$ 47	$ 41