Enterprise Products Partners L.P.

SEC Filings

10-Q
GULFTERRA ENERGY PARTNERS L P filed this Form 10-Q on 08/09/2004
Entire Document
 
<PAGE>
 
                  CONDENSED CONSOLIDATING STATEMENTS OF INCOME
                     FOR THE SIX MONTHS ENDED JUNE 30, 2003
 

<Table>
<Caption>
                                             NON-GUARANTOR      GUARANTOR      CONSOLIDATING   CONSOLIDATED
                                   ISSUER    SUBSIDIARIES    SUBSIDIARIES(1)   ELIMINATIONS       TOTAL
                                  --------   -------------   ---------------   -------------   ------------
                                                        (IN THOUSANDS)
<S>                               <C>        <C>             <C>               <C>             <C>
Operating revenues..............  $     --       $506           $466,620         $      --       $467,126
                                  --------       ----           --------         ---------       --------
Operating expenses
  Cost of natural gas and other
     products...................        --         --            176,138                --        176,138
  Operation and maintenance.....     3,204        142             85,849                --         89,195
  Depreciation, depletion and
     amortization...............        74         21             48,448                --         48,543
  Loss on sale of long-lived
     assets.....................        --         --                257                --            257
                                  --------       ----           --------         ---------       --------
                                     3,278        163            310,692                --        314,133
                                  --------       ----           --------         ---------       --------
Operating income (loss).........    (3,278)       343            155,928                --        152,993
Earnings from consolidated
  affiliates....................   124,397         --                 --          (124,397)            --
Earnings from unconsolidated
  affiliates....................        --         --              6,303                --          6,303
Minority interest expense.......        --        (80)                --                --            (80)
Other income....................       451         --                241                --            692
Interest and debt expense.......    26,296         --             40,028                --         66,324
Loss due to early redemptions of
  debt..........................     3,762         --                 --                --          3,762
                                  --------       ----           --------         ---------       --------
Income before cumulative effect
  of accounting change..........    91,512        263            122,444          (124,397)        89,822
Cumulative effect of accounting
  change........................        --         --              1,690                --          1,690
                                  --------       ----           --------         ---------       --------
  Net income....................  $ 91,512       $263           $124,134         $(124,397)      $ 91,512
                                  ========       ====           ========         =========       ========
</Table>

 
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(1) Operating revenues and cost of natural gas and other products for our
    guarantor subsidiaries has been reduced by $121.9 million to reflect the
    revision of Typhoon Oil Pipeline's revenues and cost of natural gas and
    other products to conform to the current period presentation. See Note 1,
    Basis of Presentation and Summary of Significant Accounting
    Policies -- Revenue Recognition and Cost of Natural Gas and Other Products.
 
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