Enterprise Products Partners L.P.

SEC Filings

10-K405
TEPPCO PARTNERS LP filed this Form 10-K405 on 03/03/1998
Entire Document
 
<PAGE>   13

ITEM 6.  SELECTED FINANCIAL DATA (UNAUDITED)

        The following tables set forth, for the periods and at the dates
indicated, selected consolidated financial and operating data for the
Partnership. The financial data was derived from the consolidated financial
statements of the Partnership and should be read in conjunction with the
Partnership's audited consolidated financial statements included in the Index
to Financial Statements on page F-1 of this report. See also Item 7,
"Management's Discussion and Analysis of Financial Condition and Results of
Operations."



<TABLE>
<CAPTION>
                                                                                  YEARS ENDED DECEMBER 31,
                                                            ---------------------------------------------------------------------
                                                               1997           1996           1995           1994           1993
                                                            ---------      ---------      ---------      ---------      ---------
                                                                  (in thousands, except per Unit Amounts and Operating Data)
<S>                                                         <C>            <C>            <C>            <C>            <C>      
INCOME STATEMENT DATA:
   Operating revenues:
      Transportation -- Refined products ..............     $ 107,304      $  98,641      $  96,190      $  89,442      $  75,144
      Transportation -- LPGs ..........................        79,371         80,219         70,576         73,458         74,270
      Gain on sale of inventory .......................         2,261          3,674          4,115            966          1,848
      Mont Belvieu operations .........................        12,815         11,811         13,570         12,290         12,611
      Other ...........................................        20,342         21,680         19,265         21,146         19,761
                                                            ---------      ---------      ---------      ---------      ---------
       Total operating revenues .......................       222,093        216,025        203,716        197,302        183,634
   Operating expenses .................................       106,771        105,182        103,938         94,337         88,257
   Depreciation and amortization ......................        23,772         23,409         23,286         23,063         23,485
                                                            ---------      ---------      ---------      ---------      ---------
   Operating income ...................................        91,550         87,434         76,492         79,902         71,892
   Interest expense -- net ............................       (32,229)       (33,534)       (34,987)       (36,076)       (36,242)
   Other income -- net ................................         1,979          4,748          5,212          2,714          1,502
                                                            ---------      ---------      ---------      ---------      ---------
   Income before cumulative effect of accounting 
        change.........................................        61,300         58,648         46,717         46,540         37,152
    Cumulative effect of accounting change, net of
        minority interest (1) .........................          --             --             --             --             (949)
                                                            ---------      ---------      ---------      ---------      ---------
   Net income .........................................     $  61,300      $  58,648      $  46,717      $  46,540      $  36,203
                                                            =========      =========      =========      =========      =========
   Income per Limited Partner Unit:
      Before cumulative effect of accounting change ...     $    3.90      $    3.79      $    3.08      $    3.13      $    2.54
      Cumulative effect of accounting change (1) ......          --             --             --             --            (0.07)
                                                            ---------      ---------      ---------      ---------      ---------
      Basic net income per Limited Partner Unit .......     $    3.90      $    3.79      $    3.08      $    3.13      $    2.47
                                                            =========      =========      =========      =========      =========
      Diluted net income per Limited Partner Unit .....     $    3.90      $    3.78      $    3.07      $    3.13      $    2.47
                                                            =========      =========      =========      =========      =========
      Distributions paid per Limited Partner Unit .....     $    3.10      $    2.90      $    2.65      $    2.37      $    2.22
                                                            =========      =========      =========      =========      =========
BALANCE SHEET DATA (AT PERIOD END):
   Property, plant and equipment -- net ...............     $ 567,681      $ 561,068      $ 533,470      $ 540,577      $ 543,613
   Total assets .......................................       673,909        671,241        669,915        665,331        655,138
   Long-term debt (net of current maturities) .........       309,512        326,512        339,512        349,512        356,512
   Partners' capital ..................................       302,967        290,311        276,381        269,599        257,428
CASH FLOW DATA:
   Net cash from operations ...........................     $  83,604      $  86,121      $  78,456      $  70,082      $  60,989
   Capital expenditures ...............................       (32,931)       (51,264)       (25,967)       (20,826)       (16,240)
   Investments -- net .................................        18,860          4,148          6,527        (41,776)          --
   Distributions ......................................       (49,042)       (45,174)       (40,342)       (34,720)       (30,056)
   Principal payment, First Mortgage Notes ............       (13,000)       (10,000)        (7,000)        (5,000)        (4,000)
OPERATING DATA:
   Volumes delivered (thousands of Bbls)
      Refined products ................................       119,971        115,262        110,234        107,271         90,712
      LPGs ............................................        41,991         41,640         38,237         36,636         38,813
      Mont Belvieu operations .........................        27,869         22,522         30,148         28,695         22,035
                                                            ---------      ---------      ---------      ---------      ---------
       Total ..........................................       189,831        179,424        178,619        172,602        151,560
                                                            =========      =========      =========      =========      =========
   Average system tariff ($/Bbl)
      Refined products ................................     $    0.89      $    0.86      $    0.87      $    0.83      $    0.83
      LPGs ............................................          1.89           1.93           1.85           2.01           1.91
</TABLE>


(1)      See Note 12 of the Notes to Consolidated Financial Statements included
         elsewhere in this report.





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