As a reminder, Plains All American owns a 2% general partner interest and all the incentive distribution rights and approximately 62% of the limited partnership in PNG, which accordingly is consolidated into PAA’s results. In addition to reviewing recent results, we’ll provide forward-looking comments on the Partnership’s outlook for the future. In order to avail ourselves of Safe Harbor precepts that encourage companies to provide this type of information, we direct you to the risks and warnings set forth in the Partnership’s most recent and future filings with the Securities and Exchange Commission.Today’s presentation will also include references to certain non-GAAP financial measures such as EBIT and EBITDA. The non-GAAP reconciliation sections of our website reconcile certain non-GAAP financial measures to the most directly comparable GAAP financial measures and provide a table of selected items that impact comparability of the Partnership’s reported financial information. References to adjusted financial metrics exclude the effect of these selected items. Also, for PAA, all references to net income are references to net income attributable to Plains.
Plains All American Pipeline' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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