In the second quarter of 2012, Regency generated $71 million in cash available for distribution, representing 0.87 times the amount required to cover its announced distribution to unitholders.
Regency makes distribution determinations based on its cash available for distribution and the perceived sustainability of distribution levels over an extended period. In addition to considering the cash available for distribution generated during the quarter, Regency takes into account cash reserves established with respect to prior distributions, seasonality of results, timing of organic growth projects and its internal forecasts of adjusted EBITDA and cash available for distribution over an extended period. Distributions are set by the Board of Directors and are driven by the long-term sustainability of the business.
Regency Energy Partners will hold a quarterly conference call to discuss second-quarter 2012 results Wednesday, August 8, 2012 at 10 a.m. Central Time (11 a.m. Eastern Time).The dial-in number for the call is 1-800-299-6183 in the United States, or +1-617-801-9713 outside the United States, passcode 55203815. A live webcast of the call may be accessed on the investor relations page of Regency’s website at www.regencyenergy.com. The call will be available for replay for seven days by dialing 1-888-286-8010 (from outside the U.S., +1-617-801-6888) passcode 60462094. A replay of the broadcast will also be available on the Partnership’s website for 30 days. NON-GAAP FINANCIAL INFORMATION This press release and the accompanying financial schedules include the non-GAAP financial measures of:
- adjusted EBITDA;
- cash available for distribution;
- segment margin;
- total segment margin;
- adjusted segment margin; and
- adjusted total segment margin.