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

The following tables present the effect of our derivative instruments designated as cash flow hedges on our Statements of Consolidated Operations and Statements of Consolidated Comprehensive Income for the periods indicated:

Derivatives in Cash Flow
Hedging Relationships
 
Change in Value Recognized in
Other Comprehensive Income (Loss)
On Derivative (Effective Portion)
 
 
 
For the Year Ended December 31,
 
 
 
2017
   
2016
   
2015
 
Interest rate derivatives
 
$
(5.7
)
 
$
42.3
   
$
--
 
Commodity derivatives – Revenue (1)
   
(33.7
)
   
(197.4
)
   
217.6
 
Commodity derivatives – Operating costs and expenses (1)
   
(4.8
)
   
3.6
     
(2.7
)
Total
 
$
(44.2
)
 
$
(151.5
)
 
$
214.9
 
                         
(1)   The fair value of these derivative instruments will be reclassified to their respective locations on the Statement of Consolidated Operations upon settlement of the underlying derivative transactions, as appropriate.
 

 
Derivatives in Cash Flow
Hedging Relationships
Location
 
Gain (Loss) Reclassified from
Accumulated Other Comprehensive Income (Loss) to
Income (Effective Portion)
 
 
  
 
For the Year Ended December 31,
 
 
 
 
2017
   
2016
   
2015
 
Interest rate derivatives
Interest expense
 
$
(40.4
)
 
$
(37.4
)
 
$
(35.3
)
Commodity derivatives
Revenue
   
(111.6
)
   
(53.6
)
   
231.7
 
Commodity derivatives
Operating costs and expenses
   
(0.6
)
   
0.2
     
(3.5
)
Total
 
 
$
(152.6
)
 
$
(90.8
)
 
$
192.9
 

Derivatives in Cash Flow
Hedging Relationships
Location
 
Gain (Loss) Recognized in Income on Derivative
(Ineffective Portion)
 
 
  
 
For the Year Ended December 31,
 
 
 
 
2017
   
2016
   
2015
 
Commodity derivatives
Revenue
 
$
--
   
$
--
   
$
4.7
 
Commodity derivatives
Operating costs and expenses
   
(1.1
)
   
0.5
     
0.1
 
Total
 
 
$
(1.1
)
 
$
0.5
   
$
4.8
 

Over the next twelve months, we expect to reclassify $38.4 million of losses attributable to interest rate derivative instruments from accumulated other comprehensive loss to earnings as an increase in interest expense.  Likewise, we expect to reclassify $9.7 million of losses attributable to commodity derivative instruments from accumulated other comprehensive income to earnings, $9.4 million as decrease in revenue and $0.3 million as an increase to operating costs and expenses.

The following table presents the effect of our derivative instruments not designated as hedging instruments on our Statements of Consolidated Operations for the periods indicated:

Derivatives Not Designated as
Hedging Instruments
Location
 
Gain (Loss) Recognized in
Income on Derivative
 
 
  
 
For the Year Ended December 31,
 
 
 
 
2017
   
2016
   
2015
 
Interest rate derivatives
Interest expense
 
$
--
   
$
--
   
$
--
 
Commodity derivatives
Revenue
   
(42.7
)
   
(38.4
)
   
1.0
 
Commodity derivatives
Operating costs and expenses
   
0.1
     
(0.4
)
   
0.1
 
Total
 
 
$
(42.6
)
 
$
(38.8
)
 
$
1.1
 

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