Enterprise’s distributable cash flow for the third quarter of 2012 provided 1.3 times coverage of the cash distributions that will be paid on November 8, 2012 to unitholders of record on October 31, 2012. Excluding the benefit from the litigation settlement and the loss from the interest rate hedges, distributable cash flow for the third quarter of 2012 would have been $789 million and provided 1.4 times coverage of the cash distributions declared with respect to the quarter. The partnership retained $177 million of distributable cash flow for the third quarter of 2012, which is available to reinvest in growth capital projects, reduce debt, and decrease the need to issue additional equity.Revenues for the third quarter of 2012 were $10.5 billion compared to $11.3 billion for the same quarter of 2011 primarily attributable to lower commodity prices, which more than offset the effect of higher overall volumes. Certain of Enterprise’s revenues and operating costs and expenses can fluctuate significantly based on the prices of natural gas, NGLs, crude oil, petrochemicals and refined products without necessarily affecting operating income, gross operating margin and distributable cash flow to the same degree.
Enterprise Reports Results For The Third Quarter Of 2012
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