Enterprise Products Partners L.P. Files Q3 2024 10-Q

TL;DR

EPD Q3 2024 10-Q filed. Financials and ops details out.

AI Summary

Enterprise Products Partners L.P. filed its 10-Q for the period ending September 30, 2024. The filing covers financial results and operational updates for the company, which is involved in natural gas transmission. Specific financial figures and operational details are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of Enterprise Products Partners L.P., crucial for understanding the company's current health and future prospects in the energy sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• ENTERPRISE PRODUCTS PARTNERS L.P. (company) — Filer
• 20240930 (date) — Period of Report
• 20241108 (date) — Filing Date
• 7133816500 (phone_number) — Business Phone
• 1100 LOUISIANA 10TH FLOOR (address) — Business Address
• HOUSTON (location) — Business City
• TX (state) — Business State
• 77002 (zip_code) — Business Zip

FAQ

Filing Documents

• form10q.htm (10-Q) — 3850KB
• exhibit22_1.htm (EX-22.1) — 40KB
• 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
• 0001061219-24-000021.txt ( ) — 18771KB
• epd-20240930.xsd (EX-101.SCH) — 122KB
• epd-20240930_cal.xml (EX-101.CAL) — 127KB
• epd-20240930_def.xml (EX-101.DEF) — 674KB
• epd-20240930_lab.xml (EX-101.LAB) — 1635KB
• epd-20240930_pre.xml (EX-101.PRE) — 899KB
• form10q_htm.xml (XML) — 4074KB

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 9 2. Summary of Significant Accounting Policies 10 3. Inventories 10 4. Property, Plant and Equipment 11 5. Investments in Unconsolidated Affiliates 12 6. Intangible Assets and Goodwill 13 7. Debt Obligations 14 8. Capital Accounts 17 9. Revenues 20 10. Business Segments and Related Information 22 11. Earnings Per Unit 26 12. Equity-Based Awards 26 13. Hedging Activities and Fair Value Measurements 27 14. Related Party Transactions 34 15. Income Taxes 35 16. Commitments and Contingent Liabilities 37 17. Supplemental Cash Flow Information 38 18. Subsequent Event 38 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. 39 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 66 Item 4.

Controls and Procedures

Controls and Procedures. 68

OTHER INFORMATION

PART II. OTHER INFORMATION. Item 1. Legal Proceedings. 69 Item 1A. Risk Factors. 69 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 70 Item 3. Defaults Upon Senior Securities. 71 Item 4. Mine Safety Disclosures. 71 Item 5. Other Information. 71 Item 6. Exhibits. 71

Signatures

Signatures 80 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,434 $ 180 Restricted cash 239 140 Accounts receivable – trade, net of allowance for credit losses of $ 38 at September 30, 2024 and $ 35 at December 31, 2023 8,197 7,765 Accounts receivable – related parties 5 7 Inventories (see Note 3) 3,319 3,352 Derivative assets (see Note 13) 626 347 Prepaid and other current assets 565 457 Total current assets 14,385 12,248 Property, plant and equipment, net (see Note 4) 48,099 45,804 Investments in unconsolidated affiliates (see Note 5) 2,268 2,330 Intangible assets, net (see Note 6) 3,619 3,770 Goodwill (see Note 6) 5,608 5,608 Other assets 1,083 1,222 Total assets $ 75,062 $ 70,982 LIABILITIES AND EQUITY Current liabilities: Current maturities of debt (see Note 7) $ 1,149 $ 1,300 Accounts payable – trade 1,203 1,195 Accounts payable – related parties 137 199 Accrued product payables 9,219 8,911 Accrued interest 270 455 Derivative liabilities (see Note 13) 616 396 Other current liabilities 810 675 Total current liabilities 13,404 13,131 Long-term debt (see Note 7) 30,756 27,448 Deferred tax liabilities (see Note 15) 634 611 Other long-term liabilities 1,060 984 Commitments and contingent liabilities (see Note 16) Redeemable preferred limited partner interests: (see Note 8) Series A cumulative convertible preferred units ("preferred units") ( 50,594 units outstanding at September 30, 2024 and 50,412 units outstanding at December 31, 2023 ) 50 49 Equity: (see Note 8) Partners' equity: Common limited partner interests ( 2,167,752,040 units issued and outstanding at September 30, 2024 , 2,168,245,238 units issued and outstanding at December 31, 2023 ) 29,343

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View this 10-Q filing on SEC EDGAR