Enterprise Products Partners L.P.

SEC Filings

10-K
ENTERPRISE PRODUCTS PARTNERS L P filed this Form 10-K on 02/28/2018
Entire Document
 

ENTERPRISE PRODUCTS PARTNERS L.P.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
Other Revenue and Expense Information
The following table presents supplemental information regarding our consolidated revenues and costs and expenses for the periods indicated:

 
 
For the Year Ended December 31,
 
 
 
2017
   
2016
   
2015
 
Consolidated revenues:
                 
NGL Pipelines & Services
 
$
12,468.0
   
$
10,242.5
   
$
9,788.0
 
Crude Oil Pipelines & Services
   
8,156.8
     
6,515.0
     
10,305.9
 
Natural Gas Pipelines & Services
   
3,145.6
     
2,543.0
     
2,743.3
 
Petrochemical & Refined Products Services
   
5,471.1
     
3,721.8
     
4,111.9
 
Offshore Pipelines & Services
   
--
     
--
     
78.8
 
Total consolidated revenues
 
$
29,241.5
   
$
23,022.3
   
$
27,027.9
 
 
                       
Consolidated costs and expenses:
                       
Operating costs and expenses:
                       
Cost of sales
 
$
21,487.0
   
$
15,710.9
   
$
19,612.9
 
Other operating costs and expenses (1)
   
2,500.1
     
2,425.6
     
2,449.4
 
Depreciation, amortization and accretion
   
1,531.3
     
1,456.7
     
1,428.2
 
Asset impairment and related charges
   
49.8
     
52.8
     
162.6
 
Net losses (gains) attributable to asset sales
   
(10.7
)
   
(2.5
)
   
15.6
 
General and administrative costs
   
181.1
     
160.1
     
192.6
 
Total consolidated costs and expenses
 
$
25,738.6
   
$
19,803.6
   
$
23,861.3
 
   
(1)   Represents the cost of operating our plants, pipelines and other fixed assets excluding: depreciation, amortization and accretion charges; asset impairment and related charges; and net losses (or gains) attributable to asset sales and insurance recoveries.
 

Fluctuations in our product sales revenues and related cost of sales amounts are explained in part by changes in energy commodity prices.  In general, lower energy commodity prices result in a decrease in our revenues attributable to product sales; however, these lower commodity prices also decrease the associated cost of sales as purchase costs decline.  The same correlation would be true in the case of higher energy commodity sales prices and purchase costs.

Major Customer Information
Our largest non-affiliated customer for 2017 was Vitol Holding B.V. and its affiliates (collectively, “Vitol”), which accounted for $3.29 billion, or 11.2%, of our consolidated revenues for the year.   Vitol is a global energy and commodity trading company. The following table presents our consolidated revenues from Vitol by business segment for the year ended December 31, 2017:

NGL Pipelines & Services
 
$
2,099.1
 
Crude Oil Pipelines & Services
   
625.6
 
Natural Gas Pipelines & Services
   
51.1
 
Petrochemical & Refined Products Services
   
512.5
 
Total
 
$
3,288.3
 

Vitol was our largest non-affiliated customer for 2016, accounting for 9.9% of our consolidated revenues.  Shell Oil Company and its affiliates was our largest non-affiliated customer for 2015, accounting for 7.4%, of our consolidated revenues.
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