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

Accumulated Other Comprehensive Loss
Accumulated other comprehensive income (loss) primarily reflects the effective portion of the gain or loss on derivative instruments designated and qualified as cash flow hedges.  Gain or loss amounts related to cash flow hedges recorded in accumulated other comprehensive income (loss) are reclassified to earnings in the same period(s) in which the underlying hedged forecasted transactions affect earnings.  If it becomes probable that a forecasted transaction will not occur, the related net gain or loss in accumulated other comprehensive income (loss) is immediately reclassified into earnings.

The following tables present the components of accumulated other comprehensive income (loss) as reported on our Consolidated Balance Sheets at the dates indicated:
 
 
 
Gains (Losses) on
Cash Flow Hedges
             
 
 
Commodity
Derivative
Instruments
   
Interest Rate
Derivative
Instruments
   
Other
   
Total
 
Balance, December 31, 2015
 
$
56.6
   
$
(279.5
)
 
$
3.7
   
$
(219.2
)
Other comprehensive income (loss) before reclassifications
   
(193.8
)
   
42.3
     
(0.1
)
   
(151.6
)
Amounts reclassified from accumulated other comprehensive loss
   
53.4
     
37.4
     
--
     
90.8
 
Total other comprehensive income (loss)
   
(140.4
)
   
79.7
     
(0.1
)
   
(60.8
)
Balance, December 31, 2016
   
(83.8
)
   
(199.8
)
   
3.6
     
(280.0
)
Other comprehensive income (loss) before reclassifications
   
(38.5
)
   
(5.7
)
   
(0.1
)
   
(44.3
)
Amounts reclassified from accumulated other comprehensive loss
   
112.2
     
40.4
     
--
     
152.6
 
Total other comprehensive income (loss)
   
73.7
     
34.7
     
(0.1
)
   
108.3
 
Balance, December 31, 2017
 
$
(10.1
)
 
$
(165.1
)
 
$
3.5
   
$
(171.7
)

The following table presents reclassifications out of accumulated other comprehensive income (loss) into net income during the periods indicated:
 
 
  
 
For the Year Ended December 31,
 
 
 Location  
2017
   
2016
 
Losses (gains) on cash flow hedges:
             
Interest rate derivatives
Interest expense
 
$
40.4
   
$
37.4
 
Commodity derivatives
Revenue
   
111.6
     
53.6
 
Commodity derivatives
Operating costs and expenses
   
0.6
     
(0.2
)
Total
 
 
$
152.6
   
$
90.8
 

Noncontrolling Interests
Noncontrolling interests represent third party equity ownership interests in our consolidated subsidiaries.

We reclassified approximately $1.4 billion of noncontrolling interests to limited partners’ equity in connection with completing Step 2 of the Oiltanking acquisition in February 2015 (see Note 12).  Cash distributions paid in the first quarter of 2015 to the limited partners of Oiltanking other than EPO and its subsidiaries are presented as amounts paid to noncontrolling interests.

The following table presents the components of net income attributable to noncontrolling interests as presented on our Statements of Consolidated Operations for the periods indicated:

 
 
For the Year Ended December 31,
 
 
 
2017
   
2016
   
2015
 
Limited partners of Oiltanking other than EPO
 
$
--
   
$
--
   
$
7.8
 
Joint venture partners
   
56.3
     
39.9
     
29.4
 
Total
 
$
56.3
   
$
39.9
   
$
37.2
 

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