The document provides operating statistics for El Paso Corporation for the first quarter of 2008. It includes:
1) Consolidated statements of income showing revenues of $1.269 billion for Q1 2008, operating income of $550 million, and net income of $219 million.
2) Segment information on earnings before interest and taxes for the company's four business segments: Pipelines at $405 million, Exploration and Production at $208 million, Marketing at $39 million, and Power at $52 million.
3) Additional data on throughput, volumes, prices and costs for the Pipelines and Exploration and Production segments.
The document provides operating statistics for El Paso Corporation for the second quarter of 2008. It includes consolidated statements of income, consolidated operating results, and business segment results for Pipelines, Exploration and Production, Marketing, and Power. The Pipelines segment saw a decrease in throughput compared to the first quarter but an increase compared to the same period last year. The Exploration and Production segment saw higher earnings before interest and taxes compared to both periods last year. Overall, the company saw higher earnings from continuing operations compared to the same period last year.
- El Paso Corporation reported operating revenues of $1.598 billion and net income of $445 million for the third quarter of 2008.
- The Pipelines segment earned $278 million in earnings before interest and taxes, with throughput volumes averaging 4.605 trillion British thermal units per day on the Tennessee Gas Pipeline and 4.649 trillion British thermal units per day on the El Paso Natural Gas Pipeline.
- The Exploration and Production segment earned $528 million in operating income on average daily production volumes of 881 million cubic feet equivalent per day.
el paso 22758BEF-CBE8-4368-BDC6-D02434EE5C13_EP_4Q08OpStatsFinalfinance49
The document provides operating statistics for El Paso Corporation for the fourth quarter of 2008. It includes consolidated statements of income, operating results, and business segment results for Pipelines, Exploration and Production, Marketing, Power, and Corporate/Other. Key details include a net loss of $1.68 billion for Q4 2008 driven by $2.66 billion in ceiling test charges in Exploration and Production. Pipelines EBIT was $319 million for Q4. Exploration and Production had an EBIT loss of $2.526 billion for the quarter due to the ceiling test charges.
The document provides operating statistics for El Paso Corporation for the second quarter of 2006. It shows that consolidated net income was $150 million for the quarter. It also provides key financial data broken down by each of El Paso's business segments, including Pipelines, Exploration and Production, Marketing and Trading, Power and Field Services. For the Pipelines segment, earnings before interest and taxes was $335 million for the quarter, with total pipeline throughput of 18.154 billion cubic feet per day.
This document provides preliminary financial highlights and operating metrics for ConocoPhillips for the first quarter of 2004 compared to the first quarter of 2003. Some key figures include:
- Total revenues of $30.2 billion for the first quarter of 2004, up from $27.1 billion in the same period of 2003.
- Net income of $1.6 billion for the first quarter of 2004, up from $1.2 billion in the first quarter of 2003.
- Oil and gas production of 941 thousand barrels per day for the first quarter of 2004, up slightly from 935 thousand barrels per day in the same period of 2003.
The document provides operating statistics for El Paso Corporation for the third quarter of 2007. It includes consolidated statements of income, operating results, and business segment results for the Pipelines, Exploration and Production, Marketing, and Power segments. Specifically, it shows that for the third quarter of 2007 the company reported net income of $155 million on operating revenues of $1.166 billion, with the Pipelines segment generating earnings before interest and taxes of $275 million and the Exploration and Production segment earning $232 million on that measure.
The document provides operating statistics and financial results for El Paso Corporation for the fourth quarter and full year of 2007. Key highlights include:
- Consolidated net income for Q4 2007 was $160 million compared to a net loss of $166 million in Q4 2006. For the full year, net income was $1.11 billion compared to $475 million in 2006.
- The Pipelines segment saw earnings before interest and taxes of $277 million in Q4 2007, up from $270 million in Q4 2006. For the full year, earnings were $1.11 billion, up from $1.06 billion in 2006.
- Exploration and Production earnings before interest and taxes were $252
- ConocoPhillips reported revenues of $34.7 billion for Q3 2004, up from $26.5 billion in Q3 2003, and net income of $2 billion, up from $1.3 billion.
- Earnings per share for Q3 2004 were $2.86, up from $1.90 in Q3 2003.
- Oil and gas production volumes were up slightly from Q3 2003, with crude oil production of 733 thousand barrels per day consolidated and 844 thousand barrels per day total.
The document provides operating statistics for El Paso Corporation for the second quarter of 2008. It includes consolidated statements of income, consolidated operating results, and business segment results for Pipelines, Exploration and Production, Marketing, and Power. The Pipelines segment saw a decrease in throughput compared to the first quarter but an increase compared to the same period last year. The Exploration and Production segment saw higher earnings before interest and taxes compared to both periods last year. Overall, the company saw higher earnings from continuing operations compared to the same period last year.
- El Paso Corporation reported operating revenues of $1.598 billion and net income of $445 million for the third quarter of 2008.
- The Pipelines segment earned $278 million in earnings before interest and taxes, with throughput volumes averaging 4.605 trillion British thermal units per day on the Tennessee Gas Pipeline and 4.649 trillion British thermal units per day on the El Paso Natural Gas Pipeline.
- The Exploration and Production segment earned $528 million in operating income on average daily production volumes of 881 million cubic feet equivalent per day.
el paso 22758BEF-CBE8-4368-BDC6-D02434EE5C13_EP_4Q08OpStatsFinalfinance49
The document provides operating statistics for El Paso Corporation for the fourth quarter of 2008. It includes consolidated statements of income, operating results, and business segment results for Pipelines, Exploration and Production, Marketing, Power, and Corporate/Other. Key details include a net loss of $1.68 billion for Q4 2008 driven by $2.66 billion in ceiling test charges in Exploration and Production. Pipelines EBIT was $319 million for Q4. Exploration and Production had an EBIT loss of $2.526 billion for the quarter due to the ceiling test charges.
The document provides operating statistics for El Paso Corporation for the second quarter of 2006. It shows that consolidated net income was $150 million for the quarter. It also provides key financial data broken down by each of El Paso's business segments, including Pipelines, Exploration and Production, Marketing and Trading, Power and Field Services. For the Pipelines segment, earnings before interest and taxes was $335 million for the quarter, with total pipeline throughput of 18.154 billion cubic feet per day.
This document provides preliminary financial highlights and operating metrics for ConocoPhillips for the first quarter of 2004 compared to the first quarter of 2003. Some key figures include:
- Total revenues of $30.2 billion for the first quarter of 2004, up from $27.1 billion in the same period of 2003.
- Net income of $1.6 billion for the first quarter of 2004, up from $1.2 billion in the first quarter of 2003.
- Oil and gas production of 941 thousand barrels per day for the first quarter of 2004, up slightly from 935 thousand barrels per day in the same period of 2003.
The document provides operating statistics for El Paso Corporation for the third quarter of 2007. It includes consolidated statements of income, operating results, and business segment results for the Pipelines, Exploration and Production, Marketing, and Power segments. Specifically, it shows that for the third quarter of 2007 the company reported net income of $155 million on operating revenues of $1.166 billion, with the Pipelines segment generating earnings before interest and taxes of $275 million and the Exploration and Production segment earning $232 million on that measure.
The document provides operating statistics and financial results for El Paso Corporation for the fourth quarter and full year of 2007. Key highlights include:
- Consolidated net income for Q4 2007 was $160 million compared to a net loss of $166 million in Q4 2006. For the full year, net income was $1.11 billion compared to $475 million in 2006.
- The Pipelines segment saw earnings before interest and taxes of $277 million in Q4 2007, up from $270 million in Q4 2006. For the full year, earnings were $1.11 billion, up from $1.06 billion in 2006.
- Exploration and Production earnings before interest and taxes were $252
- ConocoPhillips reported revenues of $34.7 billion for Q3 2004, up from $26.5 billion in Q3 2003, and net income of $2 billion, up from $1.3 billion.
- Earnings per share for Q3 2004 were $2.86, up from $1.90 in Q3 2003.
- Oil and gas production volumes were up slightly from Q3 2003, with crude oil production of 733 thousand barrels per day consolidated and 844 thousand barrels per day total.
This document provides financial highlights and selected financial data for ConocoPhillips for the first quarter of 2005 compared to the first quarter of 2004. Some key figures include:
- Net income for Q1 2005 was $2.912 billion compared to $1.616 billion in Q1 2004.
- Income from continuing operations was $2.923 billion in Q1 2005 compared to $1.603 billion in Q1 2004.
- Total worldwide crude oil and natural gas production was 942 thousand barrels of oil equivalent per day in Q1 2005.
- Total revenues for Q1 2005 were $38.918 billion compared to $30.217 billion in Q1 2004.
The document provides operating statistics and financial results for El Paso Corporation for the fourth quarter and full year of 2005. Some key details include:
- For the fourth quarter of 2005, El Paso reported a net loss of $162 million and a loss from continuing operations of $283 million.
- For the full year 2005, El Paso reported a net loss of $606 million and a loss from continuing operations of $702 million.
- El Paso reported earnings before interest and taxes of -$106 million for the fourth quarter and $398 million for the full year from its various business segments including pipelines, exploration and production, marketing and trading, power and field services.
The document provides operating statistics for El Paso Corporation for the first quarter of 2006. It includes consolidated statements of income, operating results, and business segment results for the Pipeline Group, Exploration & Production, Marketing and Trading, Power, and Field Services segments. Specifically, it shows that consolidated net income for the first quarter of 2006 was $356 million, with the Pipeline Group contributing earnings before interest and taxes of $478 million and the Exploration & Production segment contributing $199 million. Throughput on El Paso's pipeline systems was over 19 billion cubic feet per day.
El Paso Corporation reported financial and operational results for the first quarter of 2008. Earnings per share were $0.33 compared to $0.18 in the prior year. Pipeline throughput increased 7% due to higher volumes on key systems. Exploration and production volumes grew 8% as lifting costs decreased 14%. The company also completed $598 million in asset divestitures.
The document provides operating statistics for El Paso Corporation for the second quarter of 2007. It shows that net income was $166 million, down from $150 million in the second quarter of 2006. The Pipelines segment saw earnings before interest and taxes of $318 million, down from $286 million in the prior year. Total throughput across El Paso's pipeline systems was 15,484 billion cubic feet per day, down slightly from the prior year.
- ConocoPhillips reported revenues of $47.9 billion for Q1 2006, up 23% from $38.9 billion in Q1 2005, with net income of $3.29 billion, up 13% from $2.91 billion.
- Oil and gas production increased from Q1 2005, with oil production up 777 thousand barrels per day, and gas production up 3.55 billion cubic feet per day.
- Refining and marketing sales volumes also increased compared to Q1 2005, with US refinery crude oil runs up 1.84 million barrels per day from 1.96 million.
This document provides financial highlights and operating data for ConocoPhillips for the fourth quarter and full year 2006 compared to 2005. Some key details:
- Revenues for Q4 2006 were $42.5 billion compared to $52.2 billion for Q4 2005. Full year revenues were $188.5 billion in 2006 versus $183.4 billion in 2005.
- Net income for Q4 2006 was $3.2 billion compared to $3.7 billion for Q4 2005. Full year net income was $15.6 billion in 2006 versus $13.5 billion in 2005.
- Average daily oil and gas production for Q4 2006 was 859 thousand barrels of oil equivalent for consolidated
The document provides operating statistics for El Paso Corporation for the second quarter of 2005. It includes consolidated statements of income, segment information, consolidated operating results, and business segment results. Specifically, it shows that the consolidated net loss was $238 million for the quarter, with a loss from continuing operations of $233 million. The Pipeline Group contributed earnings of $262 million before interest and taxes, while the Non-Regulated Group had a loss of $207 million before interest and taxes for the quarter.
The document provides operating statistics for El Paso Corporation for the third quarter of 2006. It shows that consolidated net income was $135 million for the quarter. It also provides key financial data segmented by each of El Paso's business units, including pipelines, exploration and production, marketing and trading, power, and field services. The pipelines segment reported earnings before interest and taxes of $305 million for the quarter and throughput volumes on its major pipelines.
El Paso Corporation provides an overview of its business, which includes owning North America's largest natural gas pipeline system and being one of North America's largest independent natural gas producers. The document discusses the company's two business segments - Pipelines and Exploration & Production. It provides key details on the pipeline and production assets, including miles of pipeline, gas transmission volumes, proven gas reserves, and acreage. It also discusses trends in the US natural gas market and the infrastructure investment needed to meet growing demand.
The document is Cameron International Corporation's 2009 proxy statement and notice of annual meeting. It notifies stockholders that the annual meeting will be held on May 13, 2009 to elect directors, approve an amendment to increase shares authorized under the company's equity incentive plan, and ratify the appointment of Ernst & Young as the company's independent auditors. It provides details on voting procedures and requirements for the meeting.
Third Quarter 2008 Ongoing EBITDA for Spectra Energy Corp. and its segments. Total ongoing EBITDA was $829 million for Q3 2008, up from $709 million in Q3 2007. The U.S. Transmission segment saw ongoing EBITDA of $285 million in Q3 2008, down slightly from $296 million in Q3 2007. The Field Services segment had the largest increase in ongoing EBITDA, from $203 million in Q3 2007 to $309 million in Q3 2008.
El Paso Corporation reported operating revenues of $1.531 billion and net income of $356 million for the first quarter of 2006. The company has six business segments: pipeline, exploration and production, marketing and trading, power, field services, and corporate. The pipeline segment transported natural gas and generated earnings before interest and taxes of $5 million. Exploration and production extracted oil and gas, earning $277 million before interest and taxes. Marketing and trading engaged in energy commodity marketing and trading, earning $9 million before interest and taxes.
Mark Leland, CFO of El Paso, provides an update on August 11, 2005. He summarizes the company's progress in its turnaround, including reducing debt from $20.5 billion to $15.9 billion through asset sales of $4.3 billion. Production has stabilized with average daily production expected to be 860-900 MMcfe/d. The company continues focusing on its two core businesses of pipelines and production. Significant growth projects are planned for the pipeline portfolio.
1) El Paso provides an update on its Gulf of Mexico operations, noting a 100% success rate in drilling since mid-2004 and stabilization of production with a shift to a lower-risk drilling program.
2) El Paso has a large acreage position in the Gulf of Mexico that provides opportunities for low-risk to ultra-deep prospects, including 52 ready to drill prospects of varying depths.
3) El Paso manages its drilling program and capital through a Capital Management System to maximize value creation and maintain a balanced portfolio based on monthly evaluation of drilling results.
This annual report summarizes Cooper Cameron Corporation's financial performance in 2005. Some key points:
- Revenues and earnings reached record levels in 2005 due to strong market conditions across all business lines.
- Orders and backlog also reached record highs of over $3.46 billion and $2.16 billion, respectively.
- The company spent over $300 million on acquisitions in 2005, including $217 million to acquire Dresser, while maintaining one of the strongest balance sheets in the industry.
- Market conditions in 2006 are expected to lead to further improvement, with natural gas continuing to drive North American business and international demand supporting air compression orders.
This document provides a transcript of Spectra Energy's fourth quarter 2007 earnings review call on February 6, 2008. In the call, Spectra Energy executives discuss the company's strong financial results for 2007, exceeding its earnings target. They also discuss Spectra Energy's investment in expansion projects and growth opportunities. The executives then provide details on the financial results and growth outlook for each of Spectra Energy's business segments. Overall, the transcript outlines Spectra Energy's positive financial performance in 2007 and growth strategy moving forward into 2008.
The document provides operating statistics for El Paso Corporation for the second quarter of 2007. It shows that net income was $166 million, down from $150 million in the second quarter of 2006. The Pipelines segment saw earnings before interest and taxes of $318 million, down from $286 million in the prior year. Total pipeline throughput was 15,484 billion cubic feet per day, down slightly from the prior year. The Exploration and Production segment had earnings before interest and taxes of $229 million, up from $161 million in 2006.
This document is El Paso Corporation's annual report on Form 10-K filed with the United States Securities and Exchange Commission for the fiscal year ended December 31, 2007. It provides information on El Paso's business operations, legal proceedings, financial statements, management's discussion and analysis, and corporate governance. El Paso owns and operates North America's largest natural gas transmission pipeline network and has natural gas exploration and production operations. The report provides details on El Paso's pipeline systems and storage facilities, as well as its strategy to grow its natural gas transmission and storage business.
Spectra Energy reported higher ongoing EBITDA across most business segments in the first quarter of 2008 compared to the same period in 2007. Total ongoing EBITDA for the company increased to $914 million in Q1 2008 from $697 million in Q1 2007. The U.S. Transmission and Distribution segments saw modest EBITDA gains, while the Western Canada Transmission & Processing and Field Services segments reported significantly higher EBITDA due to increased revenues and equity earnings. The Other segment ongoing EBITDA loss widened slightly to $17 million in Q1 2008 from $12 million in the prior year period.
This document is El Paso Corporation's 2004 Annual Report. It summarizes the company's operations and performance for the year. The key points are:
1) El Paso owns and operates a large network of natural gas pipelines and production areas across North America and Mexico. Its core businesses are natural gas pipelines and production.
2) In 2004, El Paso met its primary goals of divesting $3.3 billion in non-core assets, reducing debt by $3.4 billion, reducing costs, and investing in its pipeline business. However, production business performance was mixed and legal costs were higher than planned.
3) The pipeline business delivered on commitments and is well-positioned for future growth.
spectra energy EAF6B568-4BA4-4E99-A365-E9EF8C17DBA5_Transcript020509finance49
The document provides an overview of Spectra Energy's 4th quarter 2008 earnings call where they discussed their financial results for 2008 and outlook for 2009. Key points included earnings per share of $1.83 for 2008, exceeding targets. They placed $1.8 billion of capital projects into service for 2008. Their 2009 guidance is for earnings per share of $1.15 based on assumptions around commodity prices and exchange rates. Capital expenditures will be reduced to around $500 million for 2009 in light of economic conditions. The dividend will remain at $1.00 per share and they discussed ongoing growth opportunities across their assets.
This document provides financial highlights and selected financial data for ConocoPhillips for the first quarter of 2005 compared to the first quarter of 2004. Some key figures include:
- Net income for Q1 2005 was $2.912 billion compared to $1.616 billion in Q1 2004.
- Income from continuing operations was $2.923 billion in Q1 2005 compared to $1.603 billion in Q1 2004.
- Total worldwide crude oil and natural gas production was 942 thousand barrels of oil equivalent per day in Q1 2005.
- Total revenues for Q1 2005 were $38.918 billion compared to $30.217 billion in Q1 2004.
The document provides operating statistics and financial results for El Paso Corporation for the fourth quarter and full year of 2005. Some key details include:
- For the fourth quarter of 2005, El Paso reported a net loss of $162 million and a loss from continuing operations of $283 million.
- For the full year 2005, El Paso reported a net loss of $606 million and a loss from continuing operations of $702 million.
- El Paso reported earnings before interest and taxes of -$106 million for the fourth quarter and $398 million for the full year from its various business segments including pipelines, exploration and production, marketing and trading, power and field services.
The document provides operating statistics for El Paso Corporation for the first quarter of 2006. It includes consolidated statements of income, operating results, and business segment results for the Pipeline Group, Exploration & Production, Marketing and Trading, Power, and Field Services segments. Specifically, it shows that consolidated net income for the first quarter of 2006 was $356 million, with the Pipeline Group contributing earnings before interest and taxes of $478 million and the Exploration & Production segment contributing $199 million. Throughput on El Paso's pipeline systems was over 19 billion cubic feet per day.
El Paso Corporation reported financial and operational results for the first quarter of 2008. Earnings per share were $0.33 compared to $0.18 in the prior year. Pipeline throughput increased 7% due to higher volumes on key systems. Exploration and production volumes grew 8% as lifting costs decreased 14%. The company also completed $598 million in asset divestitures.
The document provides operating statistics for El Paso Corporation for the second quarter of 2007. It shows that net income was $166 million, down from $150 million in the second quarter of 2006. The Pipelines segment saw earnings before interest and taxes of $318 million, down from $286 million in the prior year. Total throughput across El Paso's pipeline systems was 15,484 billion cubic feet per day, down slightly from the prior year.
- ConocoPhillips reported revenues of $47.9 billion for Q1 2006, up 23% from $38.9 billion in Q1 2005, with net income of $3.29 billion, up 13% from $2.91 billion.
- Oil and gas production increased from Q1 2005, with oil production up 777 thousand barrels per day, and gas production up 3.55 billion cubic feet per day.
- Refining and marketing sales volumes also increased compared to Q1 2005, with US refinery crude oil runs up 1.84 million barrels per day from 1.96 million.
This document provides financial highlights and operating data for ConocoPhillips for the fourth quarter and full year 2006 compared to 2005. Some key details:
- Revenues for Q4 2006 were $42.5 billion compared to $52.2 billion for Q4 2005. Full year revenues were $188.5 billion in 2006 versus $183.4 billion in 2005.
- Net income for Q4 2006 was $3.2 billion compared to $3.7 billion for Q4 2005. Full year net income was $15.6 billion in 2006 versus $13.5 billion in 2005.
- Average daily oil and gas production for Q4 2006 was 859 thousand barrels of oil equivalent for consolidated
The document provides operating statistics for El Paso Corporation for the second quarter of 2005. It includes consolidated statements of income, segment information, consolidated operating results, and business segment results. Specifically, it shows that the consolidated net loss was $238 million for the quarter, with a loss from continuing operations of $233 million. The Pipeline Group contributed earnings of $262 million before interest and taxes, while the Non-Regulated Group had a loss of $207 million before interest and taxes for the quarter.
The document provides operating statistics for El Paso Corporation for the third quarter of 2006. It shows that consolidated net income was $135 million for the quarter. It also provides key financial data segmented by each of El Paso's business units, including pipelines, exploration and production, marketing and trading, power, and field services. The pipelines segment reported earnings before interest and taxes of $305 million for the quarter and throughput volumes on its major pipelines.
El Paso Corporation provides an overview of its business, which includes owning North America's largest natural gas pipeline system and being one of North America's largest independent natural gas producers. The document discusses the company's two business segments - Pipelines and Exploration & Production. It provides key details on the pipeline and production assets, including miles of pipeline, gas transmission volumes, proven gas reserves, and acreage. It also discusses trends in the US natural gas market and the infrastructure investment needed to meet growing demand.
The document is Cameron International Corporation's 2009 proxy statement and notice of annual meeting. It notifies stockholders that the annual meeting will be held on May 13, 2009 to elect directors, approve an amendment to increase shares authorized under the company's equity incentive plan, and ratify the appointment of Ernst & Young as the company's independent auditors. It provides details on voting procedures and requirements for the meeting.
Third Quarter 2008 Ongoing EBITDA for Spectra Energy Corp. and its segments. Total ongoing EBITDA was $829 million for Q3 2008, up from $709 million in Q3 2007. The U.S. Transmission segment saw ongoing EBITDA of $285 million in Q3 2008, down slightly from $296 million in Q3 2007. The Field Services segment had the largest increase in ongoing EBITDA, from $203 million in Q3 2007 to $309 million in Q3 2008.
El Paso Corporation reported operating revenues of $1.531 billion and net income of $356 million for the first quarter of 2006. The company has six business segments: pipeline, exploration and production, marketing and trading, power, field services, and corporate. The pipeline segment transported natural gas and generated earnings before interest and taxes of $5 million. Exploration and production extracted oil and gas, earning $277 million before interest and taxes. Marketing and trading engaged in energy commodity marketing and trading, earning $9 million before interest and taxes.
Mark Leland, CFO of El Paso, provides an update on August 11, 2005. He summarizes the company's progress in its turnaround, including reducing debt from $20.5 billion to $15.9 billion through asset sales of $4.3 billion. Production has stabilized with average daily production expected to be 860-900 MMcfe/d. The company continues focusing on its two core businesses of pipelines and production. Significant growth projects are planned for the pipeline portfolio.
1) El Paso provides an update on its Gulf of Mexico operations, noting a 100% success rate in drilling since mid-2004 and stabilization of production with a shift to a lower-risk drilling program.
2) El Paso has a large acreage position in the Gulf of Mexico that provides opportunities for low-risk to ultra-deep prospects, including 52 ready to drill prospects of varying depths.
3) El Paso manages its drilling program and capital through a Capital Management System to maximize value creation and maintain a balanced portfolio based on monthly evaluation of drilling results.
This annual report summarizes Cooper Cameron Corporation's financial performance in 2005. Some key points:
- Revenues and earnings reached record levels in 2005 due to strong market conditions across all business lines.
- Orders and backlog also reached record highs of over $3.46 billion and $2.16 billion, respectively.
- The company spent over $300 million on acquisitions in 2005, including $217 million to acquire Dresser, while maintaining one of the strongest balance sheets in the industry.
- Market conditions in 2006 are expected to lead to further improvement, with natural gas continuing to drive North American business and international demand supporting air compression orders.
This document provides a transcript of Spectra Energy's fourth quarter 2007 earnings review call on February 6, 2008. In the call, Spectra Energy executives discuss the company's strong financial results for 2007, exceeding its earnings target. They also discuss Spectra Energy's investment in expansion projects and growth opportunities. The executives then provide details on the financial results and growth outlook for each of Spectra Energy's business segments. Overall, the transcript outlines Spectra Energy's positive financial performance in 2007 and growth strategy moving forward into 2008.
The document provides operating statistics for El Paso Corporation for the second quarter of 2007. It shows that net income was $166 million, down from $150 million in the second quarter of 2006. The Pipelines segment saw earnings before interest and taxes of $318 million, down from $286 million in the prior year. Total pipeline throughput was 15,484 billion cubic feet per day, down slightly from the prior year. The Exploration and Production segment had earnings before interest and taxes of $229 million, up from $161 million in 2006.
This document is El Paso Corporation's annual report on Form 10-K filed with the United States Securities and Exchange Commission for the fiscal year ended December 31, 2007. It provides information on El Paso's business operations, legal proceedings, financial statements, management's discussion and analysis, and corporate governance. El Paso owns and operates North America's largest natural gas transmission pipeline network and has natural gas exploration and production operations. The report provides details on El Paso's pipeline systems and storage facilities, as well as its strategy to grow its natural gas transmission and storage business.
Spectra Energy reported higher ongoing EBITDA across most business segments in the first quarter of 2008 compared to the same period in 2007. Total ongoing EBITDA for the company increased to $914 million in Q1 2008 from $697 million in Q1 2007. The U.S. Transmission and Distribution segments saw modest EBITDA gains, while the Western Canada Transmission & Processing and Field Services segments reported significantly higher EBITDA due to increased revenues and equity earnings. The Other segment ongoing EBITDA loss widened slightly to $17 million in Q1 2008 from $12 million in the prior year period.
This document is El Paso Corporation's 2004 Annual Report. It summarizes the company's operations and performance for the year. The key points are:
1) El Paso owns and operates a large network of natural gas pipelines and production areas across North America and Mexico. Its core businesses are natural gas pipelines and production.
2) In 2004, El Paso met its primary goals of divesting $3.3 billion in non-core assets, reducing debt by $3.4 billion, reducing costs, and investing in its pipeline business. However, production business performance was mixed and legal costs were higher than planned.
3) The pipeline business delivered on commitments and is well-positioned for future growth.
spectra energy EAF6B568-4BA4-4E99-A365-E9EF8C17DBA5_Transcript020509finance49
The document provides an overview of Spectra Energy's 4th quarter 2008 earnings call where they discussed their financial results for 2008 and outlook for 2009. Key points included earnings per share of $1.83 for 2008, exceeding targets. They placed $1.8 billion of capital projects into service for 2008. Their 2009 guidance is for earnings per share of $1.15 based on assumptions around commodity prices and exchange rates. Capital expenditures will be reduced to around $500 million for 2009 in light of economic conditions. The dividend will remain at $1.00 per share and they discussed ongoing growth opportunities across their assets.
This document is El Paso Corporation's annual report (Form 10-K) filed with the SEC for the fiscal year ending December 31, 2005. It provides information on El Paso's business operations, financial results, properties used in operations, legal proceedings, stock performance and ownership. Specific items covered include a description of El Paso's business segments, risk factors, selected financial data for the past 5 years, discussions of management and financial results, financial statements, and information regarding corporate governance matters like directors, executive compensation, and stock ownership.
The document provides operating statistics for El Paso Corporation for the second quarter of 2008. It includes consolidated statements of income, consolidated operating results, and business segment results for Pipelines, Exploration and Production, Marketing, and Power. The Pipelines segment reported earnings before interest and taxes of $295 million on throughput of 16,144 billion British thermal units per day for the quarter. Exploration and Production reported earnings of $281 million with average daily production volumes of 3.1 million barrels of oil equivalent. Marketing reported a loss of $154 million.
The document provides operating statistics for El Paso Corporation for the second quarter of 2006. It shows that consolidated net income was $150 million for the quarter. It also provides key financial data broken down by each of El Paso's business segments, including Pipelines, Exploration and Production, Marketing and Trading, Power and Field Services. For the Pipelines segment, earnings before interest and taxes was $335 million for the quarter, with total pipeline throughput of 18.154 billion cubic feet per day.
- El Paso Corporation reported financial results for the third quarter of 2008 with consolidated net income of $445 million compared to $155 million in the third quarter of 2007.
- The Pipelines segment saw earnings before interest and taxes of $278 million in the third quarter of 2008 compared to $275 million in the third quarter of 2007, while throughput increased.
- Exploration and Production saw earnings before interest and taxes increase to $528 million in the third quarter of 2008 from $228 million in the third quarter of 2007, with production volumes and realized prices increasing.
- Overall, the company reported higher earnings across most business segments in the third quarter of 2008 compared to the same period in 2007.
The document provides operating statistics and financial results for El Paso Corporation for the fourth quarter and full year of 2007. Key highlights include:
- Consolidated net income for Q4 2007 was $160 million compared to a net loss of $166 million in Q4 2006. For the full year, net income was $1.11 billion compared to $475 million in 2006.
- The Pipelines segment saw earnings before interest and taxes of $277 million in Q4 2007, up from $270 million in Q4 2006. For the full year, earnings were $1.11 billion, up from $1.06 billion in 2006.
- Exploration and Production earnings before interest and taxes were $252
The document provides operating statistics for El Paso Corporation for the fourth quarter of 2008. It includes consolidated statements of income, operating results, and business segment results for Pipelines, Exploration and Production, Marketing, Power, and Corporate/Other. Key details include a net loss of $1.68 billion for Q4 2008 driven by $2.66 billion in ceiling test charges in Exploration and Production. Pipelines contributed operating income of $291 million in Q4. Exploration and Production had an operating loss of $2.39 billion in Q4 due to the ceiling test charges.
el paso 22758BEF-CBE8-4368-BDC6-D02434EE5C13_EP_4Q08OpStatsFinalfinance49
The document provides operating statistics for El Paso Corporation for the fourth quarter of 2008. It includes consolidated statements of income, operating results, and business segment results for Pipelines, Exploration and Production, Marketing, Power, and Corporate/Other. Key details include a net loss of $1.68 billion for Q4 2008 driven by $2.66 billion in ceiling test charges in Exploration and Production. Pipelines generated $319 million in EBIT for Q4. Exploration and Production had an EBIT loss of $2.53 billion for the quarter due to the ceiling test charges.
The document provides operating statistics for El Paso Corporation for the third quarter of 2007. It includes consolidated statements of income, operating results, and business segment results for the Pipelines, Exploration and Production, Marketing, and Power segments. Specifically, it shows that the company reported net income of $155 million for Q3 2007 compared to $135 million for the same period in 2006. The Pipelines segment reported earnings before interest and taxes of $275 million for Q3 2007.
The document provides operating statistics for El Paso Corporation for the third quarter of 2006. It includes consolidated statements of income, operating results, business segment results, and schedules. Specifically, it shows that for the third quarter of 2006, El Paso Corporation reported net income of $135 million on operating revenues of $1.061 billion. The Pipelines business segment reported earnings before interest and taxes of $305 million and the Exploration and Production segment reported earnings of $141 million.
This document provides operating statistics and financial results for El Paso Corporation for the fourth quarter of 2005.
Some key highlights include:
- Consolidated net loss was $162 million for Q4 2005 compared to a net loss of $542 million for Q4 2004.
- The Pipeline Group segment earned $233 million in earnings before interest and taxes for Q4 2005, down from $369 million in Q4 2004.
- Exploration & Production earned $168 million in earnings before interest and taxes for Q4 2005, down slightly from $176 million in Q4 2004.
- Marketing and Trading lost $224 million in earnings before interest and taxes for Q4 2005, an improvement from a $
The document provides operating statistics for El Paso Corporation for the second quarter of 2005. It includes consolidated statements of income, segment information, consolidated operating results, and business segment results. Specifically, it shows that the consolidated net loss was $238 million for the quarter, with a loss from continuing operations of $233 million. Pipeline operations contributed earnings of $262 million, while the non-regulated group had a loss of $207 million for the quarter.
This document provides operating statistics and financial results for El Paso Corporation for the fourth quarter and full year of 2006. Some key details include:
- For the fourth quarter of 2006, El Paso reported net income of $166 million compared to a net loss of $162 million for the same period in 2005.
- For the full year 2006, net income was $475 million, an improvement from a net loss of $606 million in 2005.
- Earnings were positively impacted by higher earnings from the Pipelines, Exploration and Production, and Field Services segments.
- The results show improvement in El Paso's overall financial performance in 2006 compared to 2005.
This document provides operating statistics for El Paso Corporation for the fourth quarter of 2006. It includes consolidated statements of income, operating results, and business segment results for the company's pipelines, exploration and production, marketing, power, field services, and corporate divisions. For the fourth quarter of 2006, the company reported a net loss of $166 million compared to a net loss of $162 million in the fourth quarter of 2005. The pipelines segment reported earnings before interest and taxes of $302 million for the fourth quarter of 2006.
Revenues increased from $11.5 billion in 2006 to $12.8 billion in 2007 primarily due to higher electric utility revenues. Operating income increased from $2.6 billion to $2.8 billion between 2006 and 2007. Net income increased from $1.25 billion in 2006 to $1.31 billion in 2007, while basic earnings per share increased from $3.84 to $4.27 over the same period.
This document provides operating statistics for El Paso Corporation for the third quarter of 2005. It includes consolidated statements of income, segment information, and details on consolidated and business segment earnings before interest, taxes, depreciation and amortization. Specifically, it shows a consolidated net loss of $312 million for the third quarter, with the Pipeline Group generating earnings of $207 million and losses for the Non-Regulated Group of $279 million, bringing total EBIT to a loss of $87 million.
This document provides operating statistics for El Paso Corporation for the third quarter of 2005. It includes consolidated statements of income, segment information, and details on consolidated and business segment earnings before interest, taxes, depreciation and amortization. Specifically, it shows a consolidated net loss of $312 million for the third quarter, with the Pipeline Group generating earnings of $207 million and losses for the Non-Regulated Group of $279 million, bringing total EBIT to a loss of $87 million.
The document summarizes Tribune Company's financial results for the third quarter and first three quarters of 2006 compared to the same periods in 2005. Some key highlights:
- Operating revenues and operating profit declined in the third quarter of 2006 compared to 2005, while operating expenses increased slightly.
- Non-operating items contributed significantly to net income in the third quarter of 2006, driven largely by gains from partnerships restructurings and asset sales.
- Income from continuing operations increased substantially, while income from discontinued operations (tv station sales) declined.
- Earnings per share increased for the third quarter and first three quarters of 2006 compared to 2005 periods.
This document summarizes the financial performance of a company for the third quarter and fiscal year ending June 30, 2005 compared to the prior year. It shows that net sales increased 6% for the quarter and 5% for the year. Earnings from continuing operations were $156 million for the quarter and $517 million for the year. The company also had significant earnings from discontinued operations of $579 million for the year from the sale of a business unit.
El Paso Corporation reported financial and operational results for the first quarter of 2008. Key highlights included solid earnings of $0.33 per share, an 8% increase in exploration and production volumes, and a 5% rise in pipeline earnings. The company also made progress on several growth projects and completed $598 million in divestitures. However, results were impacted by non-cash changes in fair values of certain derivatives. Overall, both the pipelines and exploration & production segments saw higher volumes and earnings compared to the prior year quarter.
This document summarizes the financial performance of a company for the third quarter and first nine months of 2005 compared to the same periods in 2004. It shows that net sales increased slightly for the quarter but increased 5% year-to-date, while earnings from continuing operations increased for both periods. On a segment level, the Household Group - North America saw stable sales growth and increased earnings for the quarter and year-to-date. Total assets decreased slightly from the previous fiscal year end while long-term debt increased significantly.
Advanced Micro Devices reported financial results for the second quarter of 2008 that showed a net loss of $1.19 billion compared to a net loss of $600 million in the second quarter of 2007. Revenue from continuing operations was $1.35 billion, up 3% from the previous year. The larger net loss was primarily due to an $876 million impairment charge related to discontinued operations. Excluding discontinued operations, the operating loss was $143 million compared to an operating loss of $396 million in the prior year, as gross margin improved to 52% from 34% a year ago.
Similar to EP1Q08OpStats_withDividendFootnote (20)
This investor presentation provides an overview of Jarden Corporation. In 3 sentences: Jarden is a diversified global consumer products company with a portfolio of over 100 brands across multiple segments. It has established processes for continuous improvement to drive organic growth and integrate acquisitions. The presentation discusses Jarden's strategy, brand strengths, growth approach, operating culture, and framework for ongoing process improvement.
This investor presentation provides an overview of Jarden Corporation. In 3 sentences: Jarden is a diversified global consumer products company with a portfolio of over 100 brands across multiple segments. It has established resilient business platforms and market-leading brands. Jarden's growth strategy focuses on organic growth through increased investment and acquisitions of core, tuck-in businesses that strategically fit with its international focus.
Alltrista Corporation is a leading provider of niche consumer products used for home food preservation. In 2001, Alltrista undertook strategic initiatives to focus on its core consumer products business, including the divestiture of non-core businesses. As a result, Alltrista reported a net loss of $85.4 million for 2001 due to special charges associated with divestitures and restructuring costs. However, the divestitures and restructuring positioned Alltrista to focus on growing its consumer products business through the planned acquisition of Tilia International, which would make Alltrista the market leader in home vacuum packaging systems.
Alltrista sold off non-core businesses in 2001 to focus on consumer products, especially those related to home food preservation. This included brands for canning and vacuum packaging. The divestitures removed financial burdens and generated tax refunds. Alltrista also closed an office to reduce costs. Going forward, the strategy is to leverage leadership in niche consumer product markets to drive growth, with an acquisition of Tilia planned to expand into vacuum packaging.
This document is Jarden Corporation's 2002 Annual Report. It provides an overview of the company's performance in 2002 including financial highlights and summaries of its main business segments: branded consumables, home vacuum packaging, plastic consumables, and other. It discusses the company's acquisition of Tilia and strategic direction to build a world-class consumer products company with leading market shares in niche branded consumable products.
This document is Jarden Corporation's 2002 Annual Report. It provides an overview of the company's performance in 2002 including financial highlights and summaries of its main business segments: branded consumables, home vacuum packaging, plastic consumables, and other. It discusses the company's acquisition of Tilia and strategic direction to build a world-class consumer products company with leading market shares in niche branded consumable products.
The 2003 annual report summarizes Jarden Corporation's financial and operating results for the year. It discusses record financial performance with revenues surpassing $500 million and cash flow from operations exceeding $70 million. It also highlights the acquisitions of Diamond Brands and Lehigh Consumer Products, which added over $250 million in annual revenue. The Chairman expresses optimism that 2004 will be another record year as the company continues executing its strategy of building a portfolio of market-leading consumer brands.
The 2003 annual report summarizes Jarden Corporation's financial and operating results for the year. It discusses record financial performance with revenues surpassing $500 million and cash flow from operations exceeding $70 million. It also highlights the acquisitions of Diamond Brands and Lehigh Consumer Products, which added over $250 million in annual revenue. The Chairman expresses optimism that this is just the beginning and that Jarden will continue executing its strategy to deliver strong growth.
The document summarizes Jarden Corporation's 2004 annual report. It discusses record financial results in 2004, including 5% organic sales growth and 18% EBITDA margins. It also highlights acquisitions of The United States Playing Card Company and American Household, Inc., owner of brands like Coleman and Sunbeam. The acquisition of American Household tripled Jarden's revenue base and provides opportunities for margin expansion and earnings growth.
The document is Jarden Corporation's 2004 annual report. It discusses Jarden's record financial results in 2004, including organic sales growth of 5% and EBITDA margins of 18% excluding non-cash charges. It also summarizes two acquisitions completed in 2004 - The United States Playing Card Company and American Household, Inc. - and how they will help Jarden expand its business and drive margin improvement towards a target of 15% over five years. The report highlights the company's focus on innovation through new product introductions and maintaining financial flexibility.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
Jarden Corporation reported record financial performance in 2006, with net sales increasing 21% to $3.85 billion and consolidated segment earnings growing 23% to $442 million. The annual report provides an overview of the company's three business segments - Branded Consumables, Consumer Solutions, and Outdoor Solutions - and their financial contributions. It also highlights new products, operational efficiencies, and initiatives around veterans hiring, outdoor recreation, and sustainability. Chairman Martin Franklin expressed confidence that the company is on track to double adjusted earnings per share within three to five years.
Chiquita Brands experienced a difficult year in 1999 due to severe banana price declines in Europe resulting from an overallocation of EU banana import licenses. Weak economies in Eastern Europe and Russia also negatively impacted pricing. Operating income declined compared to 1998. However, the company's Processed Foods business saw improved earnings. Chiquita completed a workforce reduction to streamline operations and generate annual savings. The EU banana import regime remains in noncompliance with international trade laws and continues to be challenged at the WTO.
Chiquita Brands International announced a proposed restructuring of $862 million in publicly-held debt discussed in the annual report. If successful, the restructuring would convert a significant portion of the debt into common equity, diluting existing shareholders. The restructuring process is still in the early stages and will continue past the customary May date for the annual shareholder meeting, which has been rescheduled for September 12, 2001. Shareholders will receive proxy materials in advance of the September meeting. The company's website and SEC filings provide information on the restructuring, operations, and other developments.
This document provides an update on Chiquita's progress against its three-year strategic plan to focus on its core banana business, drive better performance through cost reductions, and strengthen its balance sheet. Some key updates include selling non-core assets to focus on bananas, implementing cost saving programs with a target of $70 million in annual savings by 2005, reducing debt by over $100 million in 2002, and plans to invest cash flow into new growth opportunities once debt targets are met.
This document is Chiquita Brands International's 2003 annual report. It summarizes the company's financial performance and operational highlights for 2003. The key points are:
- Operating income doubled to $140 million compared to previous periods, due in part to asset sales. Debt was reduced by $122 million, achieving a $400 million target early.
- Productivity increased 12% on owned banana farms and a new fresh cut fruit business was successfully launched. Labor and food safety certifications were also earned.
- The company aims to leverage its brand and expand into higher-margin fruit businesses, targeting 30% of revenues from new businesses in 5 years. Transformation will include a focus on marketing and new talent.
Chiquita Brands International is a leading marketer and producer of bananas and other fresh produce. In 2004, the company achieved several financial and operational goals including 18% sales growth to $3.1 billion, a 23% increase in operating cash flow to $92 million, and an 11% reduction in total debt. The CEO discusses the company's strategy to strengthen its core banana business, pursue profitable growth through new acquisitions and segments, build a high-performance organization, and improve profitability in North America. Key goals for 2005 include completing the acquisition of Fresh Express to diversify product offerings and integrating the new leadership team to execute the long-term strategy.
This document is Chiquita Brands International's 2005 Annual Report. Some key highlights include:
- Net sales grew 27% to a record $3.9 billion in 2005. Operating income increased 66% to $188 million and net income grew 138% to $131 million.
- The company continued strengthening its management team and board. It also acquired Fresh Express, the US market leader in value-added salads.
- In Europe, Chiquita reinforced its brand leadership in the face of a controversial new EU banana import regime. In North America, it achieved its first meaningful increase in banana pricing in over 15 years.
- Fresh Express accelerated its market leadership in retail value-added salads to a
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
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University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
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The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
1. EL PASO CORPORATION
Operating Statistics
First Quarter 2008
Table of Contents
Page
Consolidated Statements of Income 2
Consolidated Operating Results
Consolidated Net Income 3
Segment Information 4
Business Segment Results
Pipelines
Earnings Before Interest Expense and Income Taxes 5
Throughput 6
Exploration and Production
Earnings Before Interest Expense and Income Taxes 7
Average Daily Volumes, Realized Prices and Costs Per Unit 8
Marketing
Earnings Before Interest Expense and Income Taxes 9
Operating Data 10
Power
Earnings Before Interest Expense and Income Taxes 11
Corporate and other
Earnings Before Interest Expense and Income Taxes 12
1
2. EL PASO CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per common share amounts)
(UNAUDITED)
Three Months Ended
March 31,
2008 2007
Operating revenues $ 1,269 $ 1,022
Operating expenses
Cost of products and services 56 55
Operation and maintenance 271 301
Depreciation, depletion and amortization 313 271
Taxes, other than income taxes 79 60
719 687
Operating income 550 335
Earnings from unconsolidated affiliates 37 37
Loss on debt extinguishment - (201)
Other income, net 22 46
Minority Interest (9) (1)
50 (119)
Earnings before interest expense, income taxes, and other charges 600 216
Interest and debt expense (233) (283)
Income (loss) before income taxes 367 (67)
Income taxes 148 (19)
Income (loss) from continuing operations 219 (48)
Discontinued operations, net of income taxes - 677
Net income 219 629
(1)
Preferred stock dividends 19 9
Net income available to common stockholders $ 200 $ 620
Earnings (losses) per common share
Basic
Income (loss) from continuing operations $ 0.29 $ (0.08)
Discontinued operations, net of income taxes - 0.97
Net income per common share $ 0.29 $ 0.89
Diluted
Income (loss) from continuing operations $ 0.29 $ (0.08)
Discontinued operations, net of income taxes - 0.97
Net income per common share $ 0.29 $ 0.89
Weighted average common shares outstanding
Basic 697 694
Diluted 701 694
(1)
Dividends declared per common share $ 0.08 $ 0.04
(1)
Due to timing, 2008 includes two quarters of dividends
2
3. EL PASO CORPORATION
CONSOLIDATED NET INCOME
(UNAUDITED)
2008 2007
(In millions, except per common share amounts) First First Second Third Fourth
Operating revenues $ 1,269 $ 1,022 $ 1,198 $ 1,166 $ 1,262
Operating expenses
Cost of products and services 56 55 60 55 75
Operation and maintenance 271 301 329 348 355
Depreciation, depletion and amortization 313 271 286 293 326
Taxes, other than income taxes 79 60 72 53 64
Total operating expenses 719 687 747 749 820
Operating income 550 335 451 417 442
Earnings from unconsolidated affiliates 37 37 44 (6) 26
Loss on debt extinguishment - (201) (86) - (4)
Other income, net 22 46 60 73 24
Minority Interest (9) (1) 1 (1) (5)
Earnings before interest expense, income taxes and other charges 600 216 470 483 483
Interest and debt expense (233) (283) (231) (228) (252)
Income (loss) before income taxes 367 (67) 239 255 231
Income taxes 148 (19) 70 100 71
Income (loss) from continuing operations 219 (48) 169 155 160
Discontinued operations, net of income taxes - 677 (3) - -
Consolidated net income 219 629 166 155 160
Preferred stock dividends 19 9 10 9 9
Net income available to common stockholders $ 200 $ 620 $ 156 $ 146 $ 151
Basic earnings per common share $ 0.29 $ 0.89 $ 0.23 $ 0.21 $ 0.22
Diluted earnings per common share $ 0.29 $ 0.89 $ 0.22 $ 0.20 $ 0.21
Basic average common shares outstanding 697 694 696 696 697
Diluted average common shares outstanding 701 694 757 759 759
3
4. EL PASO CORPORATION
SEGMENT INFORMATION
(UNAUDITED)
2008 2007
(In millions) First First Second Third Fourth
Operating revenues
Pipelines $ 720 $ 644 $ 614 $ 586 $ 650
Exploration and Production 603 505 575 575 645
Marketing (57) (135) (16) (9) (59)
Power - - - - -
(1)
Corporate and other, including eliminations 3 8 25 14 26
Consolidated total $ 1,269 $ 1,022 $ 1,198 $ 1,166 $ 1,262
Depreciation, depletion and amortization
Pipelines $ 99 $ 94 $ 91 $ 94 $ 94
Exploration and Production 212 170 189 194 227
Marketing - 1 1 - 1
Power - - - 1 -
(1)
Corporate and other 2 6 5 4 4
Consolidated total $ 313 $ 271 $ 286 $ 293 $ 326
Operating income (loss)
Pipelines $ 357 $ 324 $ 276 $ 234 $ 277
Exploration and Production 226 177 229 228 252
Marketing (60) (136) (20) (13) (65)
Power (8) (5) (9) (9) (3)
(1)
Corporate and other 35 (25) (25) (23) (19)
Consolidated total $ 550 $ 335 $ 451 $ 417 $ 442
Earnings (losses) before interest expense and income taxes (EBIT)
Pipelines $ 381 $ 364 $ 318 $ 275 $ 308
Exploration and Production 242 179 235 232 263
Marketing (60) (135) 5 (8) (64)
Power (2) 18 16 (67) (4)
(1)
Corporate and other 39 (210) (104) 51 (20)
Consolidated total $ 600 $ 216 $ 470 $ 483 $ 483
(1)
Includes our corporate businesses, telecommunications business and residual assets and liabilities of previously sold or discontinued businesses.
Refer to page 12 for details.
4
5. PIPELINES
EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(Excludes Intrasegment Transactions)
2008 2007
(In millions) First First Second Third Fourth
Operating revenues $ 720 $ 644 $ 614 $ 586 $ 650
Operating expenses
Operation and maintenance 195 161 181 199 212
Cost of products and services 29 31 26 23 34
Depreciation, depletion and amortization 99 94 91 94 94
Taxes, other than income taxes 40 34 40 36 33
Total operating expenses 363 320 338 352 373
Operating income 357 324 276 234 277
Equity earnings and other income, net 24 40 42 41 31
Earnings before interest expense and income taxes (EBIT) $ 381 $ 364 $ 318 $ 275 $ 308
Discontinued Operations - ANR (1)
Operating revenues $ - $ 101 $ -$ - $ -
Operating expenses and other income - (957) 5 - -
EBIT $ - $ 1,058 $ (5) $ - $ -
(1)
In December 2006, we agreed to sell our ANR pipeline Company, our Michigan storage assets and our 50-percent interest in Great Lakes Gas
Transmission to TransCanada Corporation and its affiliates. We closed the transaction in February 2007 and recorded a gain of $1,007 million.
In the second quarter of 2007, we reduced the gain by $5 million.
5
6. PIPELINES
THROUGHPUT
(Excludes Intrasegment Volumes)
(BBtu/d)
2008 2007
First First Second Third Fourth
Tennessee Gas Pipeline 5,743 5,084 4,447 4,770 5,224
(1)
El Paso Natural Gas 4,125 4,226 4,088 4,262 4,286
Colorado Interstate Gas (2) 5,133 4,762 4,779 4,957 5,124
Southern Natural Gas 2,624 2,339 2,120 2,537 2,381
El Paso Gas Transmission Mexico, S. de R.L. 50 50 50 50 50
Total 17,675 16,461 15,484 16,576 17,065
Equity Investments (Ownership Percentage)
Citrus (50%) 949 887 979 1,224 1,020
Samalayuca & Gloria a Dios (50%) 222 217 223 237 237
San Fernando (50%) 475 475 475 475 475
Total 1,646 1,579 1,677 1,936 1,732
Total throughput 19,321 18,040 17,161 18,512 18,797
(1)
Including Mojave Pipeline Company (MPC)
(2)
Including Wyoming Interstate Company (WIC) and Cheyenne Plains Gas Pipeline (CPG)
6
7. EXPLORATION AND PRODUCTION
EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(Excludes Intrasegment Transactions)
2008 2007
(In millions) First First Second Third Fourth
Operating revenues
Natural gas $ 468 $ 408 $ 459 $ 431 $ 466
Oil, condensate and natural gas liquids (NGL) 159 88 111 129 166
(1)
Changes in fair value of derivative contracts (35) 3 (5) 6 3
Other 11 6 10 9 10
Total operating revenues 603 505 575 575 645
Operating expenses
Depreciation, depletion and amortization 212 170 189 194 227
Production costs 91 86 84 79 95
Cost of products and services 24 24 19 25 24
General and administrative expenses 47 46 49 46 44
Other 3 2 5 3 3
Total operating expenses 377 328 346 347 393
Operating income 226 177 229 228 252
Equity earnings and other income, net 16 2 6 4 11
Earnings before interest expense and income taxes (EBIT) $ 242 $ 179 $ 235 $ 232 $ 263
(1)
Represents derivatives not designated as accounting hedges
7
8. EXPLORATION AND PRODUCTION
AVERAGE DAILY VOLUMES, REALIZED PRICES AND COSTS PER UNIT
2008 2007
First First Second Third Fourth
Natural Gas Sales Volumes (MMcf/d)
Onshore Central 232 205 217 215 241
Onshore Western 114 116 107 107 118
Texas Gulf Coast 190 162 171 170 209
Gulf of Mexico and South Louisiana 134 134 150 156 129
International 9 13 12 12 11
Total Natural Gas Sales Volumes 679 630 657 660 708
Oil, Condensate and NGL Sales Volumes (MBbls/d)
Onshore Central 1 1 1 1 2
Onshore Western 6 6 6 5 6
Texas Gulf Coast 8 4 5 6 7
Gulf of Mexico and South Louisiana 7 8 8 8 8
International - 1 1 1 -
Total Oil, Condensate and NGL Sales Volumes 22 20 21 21 23
Equivalent Sales Volumes (MMcfe/d)
Onshore Central 241 213 224 222 252
Onshore Western 149 150 144 140 153
Texas Gulf Coast 236 189 202 205 254
Gulf of Mexico and South Louisiana 173 182 202 206 175
International 12 16 14 14 13
Total Equivalent Sales Volumes 811 750 786 787 847
Unconsolidated Affiliate Volumes (Four Star Investment)
Natural Gas (MMcf/d) 56 54 53 45 60
Oil, Condensate and NGL (MBbls/d) 3 3 3 3 3
Total Equivalent Sales Volumes (MMcfe/d) 75 70 71 61 77
Weighted Average Realized Prices
Natural gas including hedges ($/Mcf) $ 7.57 $ 7.19 $ 7.67 $ 7.12 $ 7.16
Natural gas excluding hedges ($/Mcf) $ 7.72 $ 6.46 $ 7.17 $ 5.92 $ 6.57
Oil, condensate and NGL including hedges ($/Bbl) $ 79.74 $ 49.32 $ 56.87 $ 66.26 $ 77.47
Oil, condensate and NGL excluding hedges ($/Bbl) $ 83.06 $ 50.07 $ 57.50 $ 66.82 $ 77.93
Transportation costs
Natural gas ($/Mcf) $ 0.28 $ 0.31 $ 0.24 $ 0.29 $ 0.24
Oil, condensate and NGL ($/Bbl) $ 0.71 $ 0.76 $ 0.68 $ 0.84 $ 0.96
Cash operating costs ($/Mcfe)
Average lease operating costs $ 0.82 $ 0.95 $ 0.85 $ 0.83 $ 0.89
Average production taxes 0.42 0.32 0.33 0.26 0.33
Total production costs 1.24 1.27 1.18 1.09 1.22
Average general and administrative expenses 0.64 0.69 0.68 0.64 0.57
Average taxes, other than production and income taxes 0.04 0.03 0.06 0.04 0.04
Total cash operating costs $ 1.92 $ 1.99 $ 1.92 $ 1.77 $ 1.83
Depreciation, depletion and amortization ($/Mcfe) $ 2.87 $ 2.52 $ 2.64 $ 2.69 $ 2.91
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9. MARKETING
EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(Excludes Intrasegment Transactions)
2008 2007
(In millions) First First Second Third Fourth
Operating revenues $ (57) $ (135) $ (16) $ (9) $ (59)
Operating expenses
Operation and maintenance 2 - 3 4 4
Depreciation, depletion and amortization - 1 1 - 1
Taxes, other than income taxes 1 - - - 1
Total operating expenses 3 1 4 4 6
Operating loss (60) (136) (20) (13) (65)
Other income, net - 1 25 5 1
Earnings before interest expense and income taxes (EBIT) $ (60) $ (135) $ 5 $ (8) $ (64)
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10. MARKETING
OPERATING DATA
2008 2007
($ in millions) First First Second Third Fourth
Price Risk Management Statistics
Forward Trading Book $ (884) $ (917) $ (894) $ (865) $ (875)
(1)
Average VAR $ 1 $ 5 $ 2 $ 2 $ 1
Physical Gas Delivery (BBtu/d) 1,080 1,098 1,176 1,209 1,071
Physical Power Sales (MMWh) 1,167 1,312 1,315 1,261 1,297
Financial Settlements (BBtue/d) 1,420 1,812 2,560 2,137 2,002
Analysis of Price Risk Management Activities and Forward Book
Trading Portfolio Value at Risk (VAR) (1)
One Day VAR-95% Confidence Level at 03/31/2008 2
Average VAR-95% Confidence Level during 2008 1
High VAR-95% Confidence Level during 2008 2
Low VAR-95% Confidence Level during 2008 1
March 31, 2008
Risk Management Assets and Liabilities Forward Return of Cash Total Cash
(2)
Collateral
Mark to Market Value and Cash Liquidation Trading Book Expectations
2008 $ (161) $ -$ (161)
2009 (205) 39 (166)
2010 (136) - (136)
2011 (118) - (118)
2012 (109) - (109)
Remainder (155) - (155)
Total $ (884) $ 39 $ (845)
(1)
VAR was calculated using the historical simulation methodology at a 95% confidence level and includes all MtM based trading
contracts except for those trading contracts that relate to our E&P segment's forecasted sales volumes.
(2)
Return of cash collateral includes margin posted against our production related option contracts.
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11. POWER
EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(Excludes Intrasegment Transactions)
2008 2007
(In millions) First First Second Third Fourth
Gross margin and other revenue $ (2) $ (1) $ (2) $ (2) $ (2)
Operating expenses
Operation and maintenance 5 4 7 5 1
Depreciation, depletion and amortization - - - 1 -
Taxes, other than income taxes 1 - - 1 -
Total operating expenses 6 4 7 7 1
Operating loss (8) (5) (9) (9) (3)
Equity earnings and other income, net 6 23 25 (58) (1)
Earnings before interest expense and income taxes (EBIT) $ (2) $ 18 $ 16 $ (67) $ (4)
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12. CORPORATE AND OTHER (1)
EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(Excludes Intrasegment Transactions)
2008 2007
(In millions) First First Second Third Fourth
Gross margin and other revenue $ 2 $ 9 $ 12 $ 9 $ 11
Operating expenses
Operation and maintenance (39) 26 28 34 25
Depreciation, depletion and amortization 2 6 5 4 4
Taxes, other than income taxes 4 2 4 (6) 1
Total operating expenses (33) 34 37 32 30
Operating Income (loss) 35 (25) (25) (23) (19)
Loss on debt extinguishment - (201) (86) - (4)
Equity earnings and other income, net 4 16 7 74 3
Earnings before interest expense and income taxes (EBIT) $ 39 $ (210) $ (104) $ 51 $ (20)
EBIT by Business Unit:
Telecom $ 19 $ 4$ 1$ - $ -
Corporate 20 (214) (105) 51 (20)
Total EBIT $ 39 $ (210) $ (104) $ 51 $ (20)
(1)
Includes our corporate businesses, telecommunications business and residual assets and liabilities of previously sold or discontinued businesses.
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