Enterprise Products Partners L.P. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Enterprise Products Partners L.P. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial performance and operational data.</b>

AI Summary

ENTERPRISE PRODUCTS PARTNERS L.P. (EPDU) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Enterprise Products Partners L.P. reported financial results for the quarter ended March 31, 2024. The filing is a Form 10-Q, indicating a quarterly report. The company's principal business is Natural Gas Transmission. The filing includes data for periods ending March 31, 2024, December 31, 2023, and March 31, 2023. Key financial statement items such as Revenues and Interest Expense are referenced.

Why It Matters

For investors and stakeholders tracking ENTERPRISE PRODUCTS PARTNERS L.P., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Enterprise Products Partners L.P.'s financial health and operational status for the first quarter of 2024. Understanding the specific financial figures and asset details in this report is crucial for assessing the company's performance and future outlook in the natural gas transmission sector.

Risk Assessment

Risk Level: medium — ENTERPRISE PRODUCTS PARTNERS L.P. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) for a publicly traded company, which inherently carries medium risk due to the dynamic nature of financial markets and operational factors in the energy sector.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue trends, cost structures, and asset utilization for Enterprise Products Partners L.P.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed period of report)
• 2024-05-09 — Filing Date (Filed as of date)
• 1231 — Fiscal Year End (Fiscal year end)
• 760568219 — IRS Number (IRS number)

Key Players & Entities

• ENTERPRISE PRODUCTS PARTNERS L.P. (company) — Filer name
• 1100 LOUISIANA 10TH FLOOR (address) — Business and mailing address
• HOUSTON (location) — City in business and mailing address
• TX (location) — State in business and mailing address
• DE (location) — State of incorporation

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — The end date for the financial reporting period covered by the 10-Q.
• 2024-05-09: Filing Date — The date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC), providing a continuing disclosure of financial information between annual reports. (This filing provides the most recent quarterly financial performance and operational details for Enterprise Products Partners L.P.)

Natural Gas Transmission

The business of transporting natural gas through a network of pipelines. (This is the primary industry segment for Enterprise Products Partners L.P., indicating the core operations covered in the report.)

Filing Documents

• form10q.htm (10-Q) — 2936KB
• exhibit22_1.htm (EX-22.1) — 39KB
• exhibit31_1.htm (EX-31.1) — 14KB
• exhibit31_2.htm (EX-31.2) — 14KB
• exhibit31_3.htm (EX-31.3) — 14KB
• exhibit32_1.htm (EX-32.1) — 6KB
• exhibit32_2.htm (EX-32.2) — 6KB
• exhibit32_3.htm (EX-32.3) — 6KB
• 0001061219-24-000011.txt (&nbsp;) — 16070KB
• epd-20240331.xsd (EX-101.SCH) — 120KB
• epd-20240331_cal.xml (EX-101.CAL) — 128KB
• epd-20240331_def.xml (EX-101.DEF) — 667KB
• epd-20240331_lab.xml (EX-101.LAB) — 1622KB
• epd-20240331_pre.xml (EX-101.PRE) — 891KB
• form10q_htm.xml (XML) — 3181KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION. Item 1.

Financial Statements

Financial Statements. Unaudited Condensed Consolidated Balance Sheets 2 Unaudited Condensed Statements of Consolidated Operations 3 Unaudited Condensed Statements of Consolidated Comprehensive Income 4 Unaudited Condensed Statements of Consolidated Cash Flows 5 Unaudited Condensed Statements of Consolidated Equity 6 Notes to Unaudited Condensed Consolidated Financial Statements: 1. Partnership Organization and Operations 8 2. Summary of Significant Accounting Policies 9 3. Inventories 9 4. Property, Plant and Equipment 10 5. Investments in Unconsolidated Affiliates 11 6. Intangible Assets and Goodwill 12 7. Debt Obligations 13 8. Capital Accounts 15 9. Revenues 18 10. Business Segments and Related Information 20 11. Earnings Per Unit 24 12. Equity-Based Awards 24 13. Hedging Activities and Fair Value Measurements 26 14. Related Party Transactions 32 15. Income Taxes 33 16. Commitments and Contingent Liabilities 35 17. Supplemental Cash Flow Information 36 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 37 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 59 Item 4.

Controls and Procedures

Controls and Procedures. 61

OTHER INFORMATION

PART II. OTHER INFORMATION. Item 1. Legal Proceedings. 62 Item 1A. Risk Factors. 62 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 63 Item 3. Defaults Upon Senior Securities. 64 Item 4. Mine Safety Disclosures. 64 Item 5. Other Information. 64 Item 6. Exhibits. 64

Signatures

Signatures 73 1 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION.

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. EN TERPRISE PRODUCTS PARTNERS L.P. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 283 $ 180 Restricted cash 101 140 Accounts receivable – trade, net of allowance for credit losses of $ 35 at March 31, 2024 and December 31, 2023 7,592 7,765 Accounts receivable – related parties 6 7 Inventories (see Note 3) 3,257 3,352 Derivative assets (see Note 13) 323 347 Prepaid and other current assets 531 457 Total current assets 12,093 12,248 Property, plant and equipment, net (see Note 4) 46,431 45,804 Investments in unconsolidated affiliates (see Note 5) 2,321 2,330 Intangible assets, net (see Note 6) 3,720 3,770 Goodwill (see Note 6) 5,608 5,608 Other assets 1,200 1,222 Total assets $ 71,373 $ 70,982 LIABILITIES AND EQUITY Current liabilities: Current maturities of debt (see Note 7) $ 1,149 $ 1,300 Accounts payable – trade 1,372 1,195 Accounts payable – related parties 82 199 Accrued product payables 9,297 8,911 Accrued interest 254 455 Derivative liabilities (see Note 13) 332 396 Other current liabilities 544 675 Total current liabilities 13,030 13,131 Long-term debt (see Note 7) 28,285 27,448 Deferred tax liabilities (see Note 15) 620 611 Other long-term liabilities 912 984 Commitments and contingent liabilities (see Note 16) Redeemable preferred limited partner interests: (see Note 8) Series A cumulative convertible preferred units ("preferred units") ( 50,412 units outstanding at March 31, 2024 and December 31, 2023 ) 49 49 Equity: (see Note 8) Partners' equity: Common limited partner interests ( 2,171,558,354 units issued and outstanding at March 31, 2024 , 2,168,245,238 units issued and outstanding at December 31, 2023 ) 28,831 28,663 Treasury units, at cost ( 1,297 ) ( 1,297

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View this 10-Q filing on SEC EDGAR