Enterprise Products Partners L.P.

SEC Filings

10-Q
TEPPCO PARTNERS LP filed this Form 10-Q on 11/14/1997
Entire Document
 
<PAGE>   3


                              TEPPCO PARTNERS, L.P.

                        CONSOLIDATED STATEMENTS OF INCOME
                                   (UNAUDITED)
                     (IN THOUSANDS, EXCEPT PER UNIT AMOUNTS)



<TABLE>
<CAPTION>
                                                   THREE MONTHS     THREE MONTHS      NINE MONTHS      NINE MONTHS
                                                      ENDED             ENDED            ENDED            ENDED
                                                  SEPTEMBER 30,     SEPTEMBER 30,     SEPTEMBER 30,   SEPTEMBER 30, 
                                                       1997             1996              1997            1996
                                                  -------------     -------------     ------------    ------------
<S>                                               <C>               <C>              <C>             <C>
  Operating revenues:
    Transportation - Refined products             $   28,359        $   26,691       $   81,020      $   74,913
    Transportation - LPGs                             14,843            14,759           52,587          54,342
    Gain on sale of inventory                            191                44            2,247           3,616
    Mont Belvieu operations                            3,765             2,741            9,385           8,359
    Other                                              6,147             5,293           16,140          16,093
                                                  -----------       -----------      -----------     -----------
       Total operating revenues                       53,305            49,528          161,379         157,323
                                                  -----------       -----------      -----------     -----------
                                                                                                     
  Costs and expenses:                                                                                
    Operating, general and administrative             25,530            24,340           71,550          70,610
    Depreciation and amortization                      6,039             5,912           17,740          17,805
    Taxes - other than income taxes                    2,299             1,827            7,191           6,426
                                                  -----------       -----------      -----------     -----------
       Total costs and expenses                       33,868            32,079           96,481          94,841
                                                  -----------       -----------      -----------     -----------
                                                                                                     
       Operating income                               19,437            17,449           64,898          62,482
                                                                                                     
  Interest expense, First Mortgage Notes              (8,368)           (8,685)         (25,339)        (26,237)
  Interest costs capitalized                             214               323            1,186             703
  Other income - net                                     277             1,410            2,051           4,290
                                                  -----------       -----------      -----------     -----------
       Income before minority interest                11,560            10,497           42,796          41,238
  Minority interest                                     (116)             (105)            (432)           (416)
                                                  -----------       -----------      -----------     -----------
                                                                                                     
       Net income                                 $   11,444        $   10,392       $   42,364      $   40,822
                                                  ===========       ===========      ===========     ===========
                                                                                                     
       Net income per Unit                        $     0.71        $     0.65       $     2.70      $     2.64
                                                  ===========       ===========      ===========     ===========
</TABLE>



          See accompanying Notes to Consolidated Financial Statements.


                                       3