Texas Eastern Transmission reported financial results for the first quarter of 2007. Revenue was $226 million, down from $248 million in the prior year. Operating expenses declined to $107 million from $118 million. Net income was $63 million compared to $85 million in 2006. Total assets were $5.048 billion as of March 31, 2007.
Texas Eastern Transmission reported financial results for the second quarter of 2008. Revenue increased slightly from the prior year to $228 million, while net income decreased to $94 million from $107 million. Total assets increased to $5.3 billion from $5.1 billion at the end of 2007. The company continued to invest in pipeline infrastructure, with capital expenditures of $72 million for the first half of the year.
Texas Eastern Transmission reported financial results for the third quarter and first nine months of 2005. Revenues for the quarter were $230 million compared to $205 million for the same period in 2004. Net income for the quarter was $72 million compared to $58 million in 2004. For the first nine months of the year, revenues were $664 million and net income was $201 million, increases from the prior year. The company continues to transport and store natural gas through its pipeline systems while managing costs and obligations related to environmental remediation and ongoing legal matters.
coca cola Reconciliation of Q2 and YTD 2008 Non-GAAP Financial Measuresfinance9
This document provides both GAAP and non-GAAP financial measures for The Coca-Cola Company for the three months ended June 27, 2008 and June 29, 2007. Management believes non-GAAP measures allow for additional meaningful comparisons between periods by excluding certain items that impact comparability. The tables show reconciliations between reported GAAP measures and non-GAAP measures which exclude items like asset impairments and equity investee gains or losses. Management uses non-GAAP measures to make financial, operating and planning decisions.
- 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.
coca cola Reconciliation of Q2 and YTD 2007 Non-GAAP Financial Measuresfinance9
The document provides non-GAAP financial measures for The Coca-Cola Company in addition to its GAAP reported financial results. Management believes the non-GAAP measures allow for more meaningful comparisons of current results to historical periods by excluding certain items that impact overall comparability. The non-GAAP measures are used by management in making financial, operating, and planning decisions to evaluate performance. Tables reconcile the non-GAAP measures to GAAP measures and provide supplemental financial data for quarterly and year-to-date periods, including operating income by segment.
coca cola Reconciliation of Q3 and YTD 2007 Non-GAAP Financial Measuresfinance9
The document provides a reconciliation of the company's GAAP financial measures to non-GAAP financial measures for the third quarter and first nine months of 2007 and 2006. Some key points:
- Management believes the non-GAAP measures provide a meaningful comparison of underlying business trends by excluding certain items that impact comparability.
- For Q3 2007, items impacting comparability include asset impairments/restructuring charges and gains/losses, resulting in operating income 12% higher than reported on a non-GAAP basis.
- For the first nine months of 2007, items include similar adjustment items, resulting in operating income 13% higher than reported on a non-GAAP basis.
- By
coca cola Reconciliation of Q1 2008 Non-GAAP Financial Measuresfinance9
Management provides the following 3-sentence summary:
1) While the Company reports financial results according to GAAP, management also uses non-GAAP measures to provide additional meaningful comparisons between periods by excluding certain items that impact comparability.
2) Management believes these non-GAAP measures better reflect underlying business trends and also uses them to make financial, operating, and planning decisions.
3) The document provides reconciliations between GAAP and non-GAAP measures for revenues, expenses, profits, and segment results for the first quarters of 2008 and 2007.
Delta provided reconciliations of several non-GAAP financial measures for the periods ended June 30, 2007 and 2006. Key items excluded from measures like operating income, earnings per share, and cost per available seat mile included reorganization expenses, bankruptcy-related professional fees, and the impact of fresh start accounting. Excluding these items provides a better view of Delta's recurring operational performance. Delta also presented adjusted metrics like free cash flow and length-adjusted passenger revenue to provide more meaningful comparisons to industry benchmarks.
Texas Eastern Transmission reported financial results for the second quarter of 2008. Revenue increased slightly from the prior year to $228 million, while net income decreased to $94 million from $107 million. Total assets increased to $5.3 billion from $5.1 billion at the end of 2007. The company continued to invest in pipeline infrastructure, with capital expenditures of $72 million for the first half of the year.
Texas Eastern Transmission reported financial results for the third quarter and first nine months of 2005. Revenues for the quarter were $230 million compared to $205 million for the same period in 2004. Net income for the quarter was $72 million compared to $58 million in 2004. For the first nine months of the year, revenues were $664 million and net income was $201 million, increases from the prior year. The company continues to transport and store natural gas through its pipeline systems while managing costs and obligations related to environmental remediation and ongoing legal matters.
coca cola Reconciliation of Q2 and YTD 2008 Non-GAAP Financial Measuresfinance9
This document provides both GAAP and non-GAAP financial measures for The Coca-Cola Company for the three months ended June 27, 2008 and June 29, 2007. Management believes non-GAAP measures allow for additional meaningful comparisons between periods by excluding certain items that impact comparability. The tables show reconciliations between reported GAAP measures and non-GAAP measures which exclude items like asset impairments and equity investee gains or losses. Management uses non-GAAP measures to make financial, operating and planning decisions.
- 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.
coca cola Reconciliation of Q2 and YTD 2007 Non-GAAP Financial Measuresfinance9
The document provides non-GAAP financial measures for The Coca-Cola Company in addition to its GAAP reported financial results. Management believes the non-GAAP measures allow for more meaningful comparisons of current results to historical periods by excluding certain items that impact overall comparability. The non-GAAP measures are used by management in making financial, operating, and planning decisions to evaluate performance. Tables reconcile the non-GAAP measures to GAAP measures and provide supplemental financial data for quarterly and year-to-date periods, including operating income by segment.
coca cola Reconciliation of Q3 and YTD 2007 Non-GAAP Financial Measuresfinance9
The document provides a reconciliation of the company's GAAP financial measures to non-GAAP financial measures for the third quarter and first nine months of 2007 and 2006. Some key points:
- Management believes the non-GAAP measures provide a meaningful comparison of underlying business trends by excluding certain items that impact comparability.
- For Q3 2007, items impacting comparability include asset impairments/restructuring charges and gains/losses, resulting in operating income 12% higher than reported on a non-GAAP basis.
- For the first nine months of 2007, items include similar adjustment items, resulting in operating income 13% higher than reported on a non-GAAP basis.
- By
coca cola Reconciliation of Q1 2008 Non-GAAP Financial Measuresfinance9
Management provides the following 3-sentence summary:
1) While the Company reports financial results according to GAAP, management also uses non-GAAP measures to provide additional meaningful comparisons between periods by excluding certain items that impact comparability.
2) Management believes these non-GAAP measures better reflect underlying business trends and also uses them to make financial, operating, and planning decisions.
3) The document provides reconciliations between GAAP and non-GAAP measures for revenues, expenses, profits, and segment results for the first quarters of 2008 and 2007.
Delta provided reconciliations of several non-GAAP financial measures for the periods ended June 30, 2007 and 2006. Key items excluded from measures like operating income, earnings per share, and cost per available seat mile included reorganization expenses, bankruptcy-related professional fees, and the impact of fresh start accounting. Excluding these items provides a better view of Delta's recurring operational performance. Delta also presented adjusted metrics like free cash flow and length-adjusted passenger revenue to provide more meaningful comparisons to industry benchmarks.
This document provides a reconciliation of GAAP financial measures to non-GAAP financial measures for Delta Air Lines for various periods in 2007 and 2006. It excludes certain items from key metrics like CASM, PRASM, EBITDAR, and free cash flow that management believes are not indicative of underlying operational performance, such as reorganization costs, accounting adjustments, and fuel price fluctuations. The excluded items provide a more meaningful comparison of Delta's performance to prior periods and the industry.
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.
coca cola Reconciliation of Q1 2007 Non-GAAP Financial Measuresfinance9
The document provides a reconciliation of the company's GAAP and non-GAAP financial measures for the quarters ending March 30, 2007 and March 31, 2006. It summarizes that management believes the non-GAAP measures provide a more meaningful comparison by excluding certain items that impact comparability between periods. The tables show reconciliations of key financial figures between GAAP and non-GAAP reporting, including revenues, expenses, profits, and margins. It also provides segment-level comparisons of operating income growth between the two periods under GAAP and non-GAAP measures.
The document provides consolidated financial statements for 2009 including a balance sheet, income statement, cash flow statement, and notes. The balance sheet shows total assets of €16.457 billion including property, plant and equipment of €7.517 billion and total liabilities and equity of €16.457 billion including total shareholders' equity of €8.254 billion. The income statement shows total net revenues of €9.384 billion, raw materials and services used of €7.673 billion, and EBITDA of €1.471 billion.
This document provides a reconciliation of GAAP financial measures to non-GAAP financial measures for Delta Air Lines. It excludes certain items from various financial metrics like pre-tax income, cost per available seat mile (CASM), passenger revenue per available seat mile (PRASM), and EBITDAR to provide a more meaningful comparison of the company's performance to prior periods and the industry. Items excluded include reorganization costs, fuel price fluctuations, and other one-time charges. The reconciliations are intended to help investors evaluate Delta's recurring operational performance.
This document is Unisys Corporation's quarterly report filed with the SEC for the period ending March 31, 2006. It includes:
1) Financial statements showing a net loss of $27.9 million for the quarter, as well as balance sheets, cash flow statements, and notes to the financial statements.
2) Details of a $145.9 million restructuring charge to reduce headcount by 3,600 employees worldwide.
3) Changes to US pension plans that will stop future benefit accruals and increase company matching contributions to retirement plans.
coca cola Reconciliation of Q3 and YTD 2008 Non-GAAP financial measuresfinance9
The document provides a reconciliation of the company's GAAP and non-GAAP financial measures for the third quarters of 2008 and 2007. It shows items such as restructuring charges, productivity initiatives, and certain tax matters that are excluded from non-GAAP measures. Management believes the non-GAAP measures provide a meaningful comparison of underlying business trends by excluding items that impact comparability between periods. The reconciliation tables present the impact of excluded items on key financial metrics such as operating income, net income, and earnings per share.
The document provides reconciliations of Delta Airlines' GAAP financial measures to non-GAAP measures for the quarter ended March 31, 2007. It excludes reorganization and special items from various revenue and cost metrics to show the company's recurring operational performance. These adjustments include accounting adjustments, reorganization items, and fuel expenses. The reconciliations are provided to help investors evaluate Delta's financial results and progress on its business plan targets in a more meaningful way.
The document provides an overview of key concepts related to corporations from an economics course. It discusses why companies exist, the differences between private and public companies, and how public companies function. It also covers various corporate financial documents including income statements, balance sheets, cash flow statements, and how to analyze earnings announcements. Key terms like revenue, expenses, assets, liabilities, net profit are defined.
The document provides a reconciliation of GAAP financial measures to non-GAAP measures for the company for the periods of March 31, 2008 and March 31, 2007. It also provides forecasts for non-GAAP measures for the quarter ending June 2008 and full year 2008. Some of the reconciling items between GAAP and non-GAAP measures include impairment of goodwill, restructuring and related items, and reorganization costs. The reconciliation is provided for metrics like net loss, operating expenses, cash flow, costs per available seat mile (CASM), and operating margins.
This document is a quarterly report filed by The Black & Decker Corporation with the United States Securities and Exchange Commission for the quarter ended April 2, 2006. It includes the company's consolidated financial statements and notes for the quarter, including the statement of earnings, balance sheet, statement of cash flows, and stockholders' equity. It also provides information on the company's accounting policies, adoption of a new accounting standard for share-based payments, and selected financial data and operating results for the quarter.
In 3 sentences or less:
This document from Unum Group reconciles several non-GAAP financial measures to reported GAAP results, such as operating income excluding specified charges, for various time periods including
aetna Download Documentation Form 10-Q2008 3rdfinance9
This document is an SEC Form 10-Q quarterly report filed by Aetna Inc. for the quarterly period ended September 30, 2008. It includes Aetna's consolidated financial statements and notes. The financial statements show that for the quarter Aetna reported total revenue of $7.6 billion, net income of $277 million, and earnings per share of $0.58. For the nine months ended September 30, Aetna reported total revenue of $23.2 billion, net income of $1.2 billion, and earnings per share of $2.40. The balance sheet shows total assets of $37.3 billion and total liabilities of $28 billion.
This document is a quarterly report filed with the SEC by The Black & Decker Corporation for the quarter ended March 30, 2008. It includes the consolidated statement of earnings, balance sheet, statement of stockholders' equity, and statement of cash flows for the quarter, as well as notes to the financial statements. The financial statements show that net earnings for the quarter were $67.4 million on sales of $1.495 billion, with basic earnings per share of $1.11. Cash flow from operating activities was negative $86.9 million for the quarter. Total stockholders' equity as of March 30, 2008 was $1.389 billion.
The annual report summarizes Symantec's financial results for fiscal year 2006. It reported record non-GAAP revenue of $5 billion, up 8% from the previous year. Non-GAAP earnings per share were $1, up 16% from 2005. Symantec completed its merger with Veritas Software, significantly expanding its portfolio and market position in storage and backup software. Going forward, Symantec aims to continue innovating its security and availability products and establishing new solutions to address evolving cyber threats and market needs.
The document is Unisys Corporation's Form 10-Q filing for the quarterly period ended June 30, 2006. It includes:
- Consolidated balance sheets showing total assets of $5.1 billion including cash of $655.1 million and total liabilities and stockholders' equity of $5.1 billion.
- Consolidated statements of income showing a net loss of $194.6 million for the quarter and $222.5 million for the six months.
- Consolidated statements of cash flows showing cash provided by operating activities of $166 million for the six months.
United Stationers Inc. faced many challenges in 2001 including a weak economy following 9/11, excess infrastructure from unrealized growth, and loss of a large customer. Sales were flat at $3.9 billion while earnings declined. The company undertook restructuring, cutting costs and debt. It consolidated facilities and platforms to better serve customers and gain efficiencies.
marriott international Third Quarter 2007finance20
Marriott International reported financial results for the third quarter of 2007. Total revenues increased 12% compared to the prior year. Operating income decreased 20% due to higher expenses. Net income decreased 7% to $131 million. For the first nine months of 2007, total revenues increased 10% while net income increased 34% to $520 million compared to the prior year.
Jim Yardley, president of a pipeline group, presented at a conference on the natural gas pipeline outlook. He discussed several challenges facing the industry, including ensuring adequate gas supply for the US, building needed infrastructure given rising costs and workforce issues, determining gas's role in greenhouse gas policy, and maintaining safety in pipeline operations and damage prevention. While there are significant opportunities, meeting these challenges will be important for the continued delivery of gas safely and reliably.
This document provides an overview and update from Lisa Stewart, President of El Paso Production and Non-Regulated Operations, on Gulf of Mexico operations. It discusses El Paso's large acreage position in the GOM, its 52 ready-to-drill prospects of varying depths, its capital management system for evaluating and tracking drilling prospects, its balanced 2005 drilling program consisting of development and exploration wells, and the technologies it employs for 3D seismic, drilling, completions, and developing deep shelf plays.
The Pipeline Group had a strong fourth quarter and 2007. EBIT increased 2% and 7% respectively compared to the prior year. Throughput increased 7% in 2007. Notable events included placing the WIC Kanda project in service and acquiring a 50% stake in Gulf LNG. The group signed a precedent agreement to support expansion of the FGT pipeline and has a committed backlog approaching $4 billion.
el paso F01E85AA-D20E-424D-B73A-588DF65EC38A_Proxy_Statement_2009finance49
The document is a letter inviting El Paso stockholders to the company's 2009 Annual Meeting of Stockholders. It provides details about the meeting such as the date, time, and location. It states that stockholders will be asked to vote on the election of 11 directors, amendments to the 2005 Omnibus Incentive Compensation Plan and Employee Stock Purchase Plan, and the ratification of Ernst & Young LLP as the independent auditor. Three directors will be retiring pursuant to the company's mandatory retirement policy. The letter urges stockholders to vote and attend if possible.
This document provides a reconciliation of GAAP financial measures to non-GAAP financial measures for Delta Air Lines for various periods in 2007 and 2006. It excludes certain items from key metrics like CASM, PRASM, EBITDAR, and free cash flow that management believes are not indicative of underlying operational performance, such as reorganization costs, accounting adjustments, and fuel price fluctuations. The excluded items provide a more meaningful comparison of Delta's performance to prior periods and the industry.
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.
coca cola Reconciliation of Q1 2007 Non-GAAP Financial Measuresfinance9
The document provides a reconciliation of the company's GAAP and non-GAAP financial measures for the quarters ending March 30, 2007 and March 31, 2006. It summarizes that management believes the non-GAAP measures provide a more meaningful comparison by excluding certain items that impact comparability between periods. The tables show reconciliations of key financial figures between GAAP and non-GAAP reporting, including revenues, expenses, profits, and margins. It also provides segment-level comparisons of operating income growth between the two periods under GAAP and non-GAAP measures.
The document provides consolidated financial statements for 2009 including a balance sheet, income statement, cash flow statement, and notes. The balance sheet shows total assets of €16.457 billion including property, plant and equipment of €7.517 billion and total liabilities and equity of €16.457 billion including total shareholders' equity of €8.254 billion. The income statement shows total net revenues of €9.384 billion, raw materials and services used of €7.673 billion, and EBITDA of €1.471 billion.
This document provides a reconciliation of GAAP financial measures to non-GAAP financial measures for Delta Air Lines. It excludes certain items from various financial metrics like pre-tax income, cost per available seat mile (CASM), passenger revenue per available seat mile (PRASM), and EBITDAR to provide a more meaningful comparison of the company's performance to prior periods and the industry. Items excluded include reorganization costs, fuel price fluctuations, and other one-time charges. The reconciliations are intended to help investors evaluate Delta's recurring operational performance.
This document is Unisys Corporation's quarterly report filed with the SEC for the period ending March 31, 2006. It includes:
1) Financial statements showing a net loss of $27.9 million for the quarter, as well as balance sheets, cash flow statements, and notes to the financial statements.
2) Details of a $145.9 million restructuring charge to reduce headcount by 3,600 employees worldwide.
3) Changes to US pension plans that will stop future benefit accruals and increase company matching contributions to retirement plans.
coca cola Reconciliation of Q3 and YTD 2008 Non-GAAP financial measuresfinance9
The document provides a reconciliation of the company's GAAP and non-GAAP financial measures for the third quarters of 2008 and 2007. It shows items such as restructuring charges, productivity initiatives, and certain tax matters that are excluded from non-GAAP measures. Management believes the non-GAAP measures provide a meaningful comparison of underlying business trends by excluding items that impact comparability between periods. The reconciliation tables present the impact of excluded items on key financial metrics such as operating income, net income, and earnings per share.
The document provides reconciliations of Delta Airlines' GAAP financial measures to non-GAAP measures for the quarter ended March 31, 2007. It excludes reorganization and special items from various revenue and cost metrics to show the company's recurring operational performance. These adjustments include accounting adjustments, reorganization items, and fuel expenses. The reconciliations are provided to help investors evaluate Delta's financial results and progress on its business plan targets in a more meaningful way.
The document provides an overview of key concepts related to corporations from an economics course. It discusses why companies exist, the differences between private and public companies, and how public companies function. It also covers various corporate financial documents including income statements, balance sheets, cash flow statements, and how to analyze earnings announcements. Key terms like revenue, expenses, assets, liabilities, net profit are defined.
The document provides a reconciliation of GAAP financial measures to non-GAAP measures for the company for the periods of March 31, 2008 and March 31, 2007. It also provides forecasts for non-GAAP measures for the quarter ending June 2008 and full year 2008. Some of the reconciling items between GAAP and non-GAAP measures include impairment of goodwill, restructuring and related items, and reorganization costs. The reconciliation is provided for metrics like net loss, operating expenses, cash flow, costs per available seat mile (CASM), and operating margins.
This document is a quarterly report filed by The Black & Decker Corporation with the United States Securities and Exchange Commission for the quarter ended April 2, 2006. It includes the company's consolidated financial statements and notes for the quarter, including the statement of earnings, balance sheet, statement of cash flows, and stockholders' equity. It also provides information on the company's accounting policies, adoption of a new accounting standard for share-based payments, and selected financial data and operating results for the quarter.
In 3 sentences or less:
This document from Unum Group reconciles several non-GAAP financial measures to reported GAAP results, such as operating income excluding specified charges, for various time periods including
aetna Download Documentation Form 10-Q2008 3rdfinance9
This document is an SEC Form 10-Q quarterly report filed by Aetna Inc. for the quarterly period ended September 30, 2008. It includes Aetna's consolidated financial statements and notes. The financial statements show that for the quarter Aetna reported total revenue of $7.6 billion, net income of $277 million, and earnings per share of $0.58. For the nine months ended September 30, Aetna reported total revenue of $23.2 billion, net income of $1.2 billion, and earnings per share of $2.40. The balance sheet shows total assets of $37.3 billion and total liabilities of $28 billion.
This document is a quarterly report filed with the SEC by The Black & Decker Corporation for the quarter ended March 30, 2008. It includes the consolidated statement of earnings, balance sheet, statement of stockholders' equity, and statement of cash flows for the quarter, as well as notes to the financial statements. The financial statements show that net earnings for the quarter were $67.4 million on sales of $1.495 billion, with basic earnings per share of $1.11. Cash flow from operating activities was negative $86.9 million for the quarter. Total stockholders' equity as of March 30, 2008 was $1.389 billion.
The annual report summarizes Symantec's financial results for fiscal year 2006. It reported record non-GAAP revenue of $5 billion, up 8% from the previous year. Non-GAAP earnings per share were $1, up 16% from 2005. Symantec completed its merger with Veritas Software, significantly expanding its portfolio and market position in storage and backup software. Going forward, Symantec aims to continue innovating its security and availability products and establishing new solutions to address evolving cyber threats and market needs.
The document is Unisys Corporation's Form 10-Q filing for the quarterly period ended June 30, 2006. It includes:
- Consolidated balance sheets showing total assets of $5.1 billion including cash of $655.1 million and total liabilities and stockholders' equity of $5.1 billion.
- Consolidated statements of income showing a net loss of $194.6 million for the quarter and $222.5 million for the six months.
- Consolidated statements of cash flows showing cash provided by operating activities of $166 million for the six months.
United Stationers Inc. faced many challenges in 2001 including a weak economy following 9/11, excess infrastructure from unrealized growth, and loss of a large customer. Sales were flat at $3.9 billion while earnings declined. The company undertook restructuring, cutting costs and debt. It consolidated facilities and platforms to better serve customers and gain efficiencies.
marriott international Third Quarter 2007finance20
Marriott International reported financial results for the third quarter of 2007. Total revenues increased 12% compared to the prior year. Operating income decreased 20% due to higher expenses. Net income decreased 7% to $131 million. For the first nine months of 2007, total revenues increased 10% while net income increased 34% to $520 million compared to the prior year.
Jim Yardley, president of a pipeline group, presented at a conference on the natural gas pipeline outlook. He discussed several challenges facing the industry, including ensuring adequate gas supply for the US, building needed infrastructure given rising costs and workforce issues, determining gas's role in greenhouse gas policy, and maintaining safety in pipeline operations and damage prevention. While there are significant opportunities, meeting these challenges will be important for the continued delivery of gas safely and reliably.
This document provides an overview and update from Lisa Stewart, President of El Paso Production and Non-Regulated Operations, on Gulf of Mexico operations. It discusses El Paso's large acreage position in the GOM, its 52 ready-to-drill prospects of varying depths, its capital management system for evaluating and tracking drilling prospects, its balanced 2005 drilling program consisting of development and exploration wells, and the technologies it employs for 3D seismic, drilling, completions, and developing deep shelf plays.
The Pipeline Group had a strong fourth quarter and 2007. EBIT increased 2% and 7% respectively compared to the prior year. Throughput increased 7% in 2007. Notable events included placing the WIC Kanda project in service and acquiring a 50% stake in Gulf LNG. The group signed a precedent agreement to support expansion of the FGT pipeline and has a committed backlog approaching $4 billion.
el paso F01E85AA-D20E-424D-B73A-588DF65EC38A_Proxy_Statement_2009finance49
The document is a letter inviting El Paso stockholders to the company's 2009 Annual Meeting of Stockholders. It provides details about the meeting such as the date, time, and location. It states that stockholders will be asked to vote on the election of 11 directors, amendments to the 2005 Omnibus Incentive Compensation Plan and Employee Stock Purchase Plan, and the ratification of Ernst & Young LLP as the independent auditor. Three directors will be retiring pursuant to the company's mandatory retirement policy. The letter urges stockholders to vote and attend if possible.
The document provides an overview of El Paso Corporation's strategy to be a meaningful company doing meaningful work and delivering meaningful results. It discusses the company's focus on providing natural gas and related energy products in a safe, efficient, and dependable manner. It also summarizes El Paso Pipeline Group's leading franchise with its unparalleled market presence, excellent expansion inventory, and visible 4-6% EBITDA growth. Finally, it outlines the company's significant pipeline connectivity and organic growth opportunities from superior supply access and LNG projects.
The 2004 annual report of Holly Corporation provides an overview of the company's financial and operating highlights for 2004 as well as its mission, company profile, and refined product markets. Key details include Holly operating three petroleum refineries in New Mexico, Utah, and Montana with total refining capacity of 109,000 barrels per day. Holly also owns a 48% interest in Holly Energy Partners which owns over 1,500 miles of refined product pipelines and terminals. Holly achieved record financial results in 2004 with sales of $2.2 billion and net income of $83.9 million compared to $1.4 billion and $46.1 million respectively in 2003.
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.
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 contains financial statements and notes for American Express Bank Ltd for the years ended December 31, 2006 and 2005.
- It includes the consolidated statements of operations, balance sheets, cash flows, and changes in shareholder's equity.
- The notes provide information on significant accounting policies such as basis of presentation, foreign currency, amounts based on estimates, revenue recognition, and credit loss reserves.
PPG Industries reported net income of $100 million for Q1 2008, down from $194 million in Q1 2007. Net sales increased to $3.72 billion from $2.632 billion due to the acquisition of SigmaKalon. Income from continuing operations was $87 million compared to $176 million due to costs associated with the SigmaKalon acquisition, including inventory step-up costs and in-process R&D write-offs. Cash and cash equivalents decreased to $298 million from $526 million due to funds used to finance the SigmaKalon acquisition in January 2008.
- AMD reported a net loss of $611 million for Q1 2007 due to lower revenue and higher costs. Revenue fell to $1.23 billion from $1.77 billion in the previous quarter.
- Gross margin declined to 28.1% from 36.2% in the previous quarter due to higher costs and lower factory utilization. Research and development expenses increased while marketing and administrative costs declined slightly.
- The Computing Solutions segment reported an operating loss of $321 million on revenue of $918 million, compared to an operating income of $65 million on revenue of $1.486 billion in the previous quarter.
Advanced Micro Devices reported a net loss of $611 million for the first quarter of 2007, with net revenue of $1.233 billion. The Computing Solutions segment experienced an operating loss of $321 million on $918 million in revenue. Research and development expenses were $432 million for the quarter. Adjusted EBITDA, which excludes certain one-time acquisition costs, was a loss of $196 million.
The document is the Clorox Company's condensed consolidated financial statements for fiscal years 2008, 2007 and 2006. It includes statements of earnings, balance sheets, cash flows and stockholders' equity. Some key details are:
- Net sales increased year-over-year from $4.8B in 2007 to $5.3B in 2008.
- Earnings from continuing operations were $461M in 2008, down from $496M in 2007.
- Total assets increased from $3.6B in 2007 to $4.7B in 2008, driven largely by acquisitions.
- Cash flows from operations were $730M in 2008, up from $709M in 2007.
PPG Industries reported net income of $184 million for the first quarter of 2006, up significantly from $95 million in the same period in 2005. Net sales increased 6% to $2.638 billion. Gross profit rose slightly to $947 million. Operating income for the coatings segment increased substantially due to a legal settlement charge in 2005, while the glass and chemicals segments saw modest operating income declines. Total current assets were $4.174 billion and total assets were $8.918 billion as of March 31, 2006.
Nationwide reported strong financial results in 2005. Total revenue increased 6.7% to $21.8 billion due to growth in property and casualty premiums and life insurance premiums and policy charges. Net income rose 13.8% to $1.149 billion, driven by a 39.3% increase in profits for the property and casualty segment. However, earnings were partially offset by hurricane losses of $907 million and $725 million in reserve strengthening for asbestos and environmental exposures. Nationwide consists of property and casualty insurance, life insurance and retirement savings, and asset management businesses.
- PPG Industries reported net sales of $2.87 billion for the quarter and $11.2 billion for the year, up compared to the same periods in 2006. Net income was $200 million for the quarter and $834 million for the year.
- By business segment, Performance Coatings and Industrial Coatings experienced the largest sales increases both for the quarter and full year.
- Total current assets at the end of 2007 were $7.14 billion, up from $4.86 billion at the end of 2006, mainly due to increases in cash, short-term investments, and receivables.
PPG Industries reported financial results for the fourth quarter and full year 2006. Net income increased to $157 million in Q4 2006 compared to $113 million in Q4 2005. For the full year, net income increased to $711 million in 2006 from $596 million in 2005. Sales increased in both periods due to higher volumes and prices. However, earnings were reduced by environmental remediation charges and legal settlements. The Coatings segment saw higher income for both periods due to volume growth, while the Chemicals segment had lower earnings due to environmental charges.
- AMD reported a net loss of $358 million for Q1 2008 on net revenue of $1.505 billion. This compares to a net loss of $1.772 billion on revenue of $1.770 billion in Q4 2007.
- Gross margin was 42% in Q1 2008, down from 44% in the previous quarter. Research and development expenses were $501 million for the most recent quarter.
- Total current assets were $3.513 billion as of March 29, 2008, including $1.753 billion in cash, cash equivalents and marketable securities. Total stockholders' equity was $2.637 billion.
This document provides financial information for DTE Energy Company for the year ended December 31, 2008. It includes consolidated statements of financial position, operations, and cash flows for DTE Energy and its subsidiaries Detroit Edison and Michigan Consolidated Gas. The financial position statement shows the company had total assets of $24.6 billion and total liabilities and equity of the same amount. Key line items include property, plant and equipment of $11.4 billion, total debt of $7 billion and total equity of $6 billion. The statements of operations and cash flows provide details on the company's financial performance and cash flows for 2008.
This document contains consolidated financial statements for DTE Energy Company for the years ended December 31, 2008 and 2007. It includes statements of financial position, operations, cash flows, and supplemental sales analysis. The statements of financial position show total assets of $24.6 billion as of December 31, 2008, including property, plant and equipment of $11.4 billion, and total liabilities and equity of also $24.6 billion. The statements of operations indicate net income of $546 million for 2008 compared to $971 million for 2007. Cash flows from operating activities were $1.1 billion in 2008. Electric sales and revenues for Detroit Edison decreased year-over-year for the fourth quarter and year-to-
This document summarizes the reconciliation of total segment and other EBIT (earnings before interest and taxes) to net income and earnings available for common stockholders for Duke Energy for the three and six month periods ended June 30, 2003 and 2002. It shows EBIT by business segment and other items, total EBIT, expenses (interest, minority interest, income taxes), cumulative effect of accounting changes, net income, dividends/redemptions, and earnings available for common stockholders.
This document summarizes the reconciliation of total segment and other EBIT (earnings before interest and taxes) to net income and earnings available for common stockholders for Duke Energy for the three and six month periods ended June 30, 2003 and 2002. It shows EBIT by business segment and other items, total EBIT, expenses (interest, minority interest, income taxes), cumulative effect of accounting changes, net income, dividends/redemptions, and earnings available for common stockholders.
- AMD reported a net loss of $67 million for Q3 2008 and $1.6 billion for the first 9 months of 2008 due to losses from discontinued operations related to its memory chip business Spansion. Revenue increased 14% in Q3 2008 compared to Q3 2007 but gross margin percentage increased from 41% to 51%.
- Total assets decreased from $11.55 billion as of December 2007 to $9.49 billion as of September 2008 mainly due to assets transferred from discontinued operations to liabilities held for sale. Cash and marketable securities decreased from $1.89 billion to $1.34 billion over the same period.
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.
Whole Foods Market reported $39.1 million in net income for the first quarter of 2008. Cash flows from operating activities provided $76.1 million. Cash used in investing activities included $106.5 million for new store development and $59.1 million for other property and equipment. Cash from financing activities included $30 million from long-term borrowings but was reduced by $25.1 million for common dividends paid. As a result, cash and cash equivalents increased by $43.9 million during the quarter.
This document is Aon Corporation's quarterly report filed with the SEC for the quarter ended March 31, 2008. It includes Aon's condensed consolidated financial statements and notes. The financial statements show that for the quarter ended March 31, 2008, Aon's total revenue was $1.93 billion, net income was $218 million, and basic earnings per share was $0.72. Aon's total assets as of March 31, 2008 were $26.51 billion, with total liabilities of $20.06 billion.
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
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.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
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.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
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.
2. TEXAS EASTERN TRANSMISSION, LP
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In millions)
Three Months Ended
March 31,
2007 2006
Operating Revenues
Transportation of natural gas $ 171 $ 170
Storage of natural gas and other services 55 78
Total operating revenues 226 248
Operating Expenses
Operation and maintenance 76 83
Depreciation and amortization 23 22
Property and other taxes 8 13
Total operating expenses 107 118
- 23
Gains on Sales of Other Assets and Other, net
119 153
Operating Income
2 2
Other Income
20 19
Interest Expense
101 136
Earnings Before Income Taxes
38 51
Income Taxes
$ 63 $ 85
Net Income
See Notes to Consolidated Financial Statements.
1
3. TEXAS EASTERN TRANSMISSION, LP
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In millions)
March 31, December 31,
2007 2006
ASSETS
Current Assets
Accounts receivable, net of allowance for doubtful accounts $ 143 $ 147
Inventory 29 30
Collateral assets 55 55
Other 12 -
Total current assets 239 232
Other Assets
Advances receivable - affiliates 1,697 1,643
Goodwill 136 136
Collateral assets 25 25
Total other assets 1,858 1,804
Property, Plant and Equipment
Cost 4,319 4,317
Less accumulated depreciation and amortization 1,448 1,437
Net property, plant and equipment 2,871 2,880
80 82
Regulatory Assets and Deferred Debits
$ 5,048 $ 4,998
Total Assets
See Notes to Consolidated Financial Statements.
2
4. TEXAS EASTERN TRANSMISSION, LP
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In millions)
March 31, December 31,
2007 2006
LIABILITIES AND PARTNERS' CAPITAL
Current Liabilities
Accounts payable $ 6 $ 28
Taxes accrued 244 223
Current maturities of long-term debt 300 300
Interest accrued 17 24
Other 124 136
Total current liabilities 691 711
770 770
Long-term Debt
Deferred Credits and Other Liabilities
Deferred income taxes 874 873
Other 84 76
Total deferred credits and other liabilities 958 949
Commitments and Contingencies
Partners' Capital
Partners' capital 2,629 2,569
Accumulated other comprehensive loss - (1)
Total partners' capital 2,629 2,568
$ 5,048 $ 4,998
Total Liabilities and Partners' Capital
See Notes to Consolidated Financial Statements.
3
5. TEXAS EASTERN TRANSMISSION, LP
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
Three Months Ended
March 31,
2007 2006
$ 66 $ 120
CASH FLOWS FROM OPERATING ACTIVITIES
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (12) (12)
Net increase in advances receivable - affiliates (54) (58)
Net cash used in investing activities (66) (70)
CASH FLOWS FROM FINANCING ACTIVITIES
Distributions to partners - (50)
Net cash used in financing activities - (50)
Net change in cash and cash equivalents - -
- -
Cash and cash equivalents at beginning of period
$ - $ -
Cash and cash equivalents at end of period
See Notes to Consolidated Financial Statements.
4
6. TEXAS EASTERN TRANSMISSION, LP
CONSOLIDATED STATEMENTS OF PARTNERS' CAPITAL AND ACCUMULATED COMPREHENSIVE INCOME (LOSS)
(Unaudited)
(In millions)
Accumulated
Other
Partners' Comprehensive
Capital Income (Loss) Total
Balance December 31, 2005 $ 2,509 $ (13) $ 2,496
Net income 85 85
Other comprehensive income 3 3
Distributions to partners (50) (50)
Balance March 31, 2006 $ 2,544 $ (10) $ 2,534
Balance December 31, 2006 $ 2,569 $ (1) $ 2,568
Cumulative Effect Adjustment (3) (3)
Net income 63 63
Other comprehensive income 1 1
Balance March 31, 2007 $ 2,629 $ - $ 2,629
See Notes to Consolidated Financial Statements.
5
7. TEXAS EASTERN TRANSMISSION, LP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)
(In millions)
Three Months Ended
March 31,
2007 2006
$ 63 $ 85
Net Income
Other comprehensive income
Reclassification adjustment into earnings 2 5
Other comprehensive income, before income taxes 2 5
Income tax expense related to items of other comprehensive income (1) (2)
Total other comprehensive income 1 3
$ 64 $ 88
Total Comprehensive Income
See Notes to Consolidated Financial Statements.
6
8. Notes to Consolidated Financial Statements
(Unaudited)
1. Nature of Operations
Texas Eastern Transmission, LP, a Delaware limited partnership (together with its subsidiaries, the
“Partnership”), is an indirect, wholly-owned subsidiary of Spectra Energy Corp. The Partnership is
primarily engaged in the interstate transportation and storage of natural gas. The Partnership’s interstate
natural gas transmission and storage operations are subject to the rules and regulations of the Federal
Energy Regulatory Commission (FERC).
2. Basis of Presentation.
The financial statements herein are prepared in accordance with the accounting principles generally
accepted (GAAP) in the United States and reflect the financial position, results of operations and cash flows
of the Partnership.
Use of Estimates. To conform with GAAP in the United States, management makes estimates and
assumptions that affect the amounts reported in the Consolidated Financial Statements and Notes to
Consolidated Financial Statements. Although these estimates are based on management’s best available
knowledge at the time, actual results could differ.
3. Gas Imbalances
The Consolidated Balance Sheets include in-kind balances as a result of differences in gas volumes received
and delivered for customers. Since the settlement of imbalances is in-kind, changes in the balances do not
have an impact on the Partnership’s consolidated statements of cash flows. Accounts Receivable and Other
Current Liabilities each include $60 million as of March 31, 2007 and December 31, 2006, related to gas
imbalances. Natural gas volumes owed to (by) the Partnership are valued at natural gas market index prices
as of the balance sheet dates.
4. Marketable Securities
During the three months ended March 31, 2006, the Partnership received shares of stock as consideration
for settlement of a customer’s transportation contract. The market value of the equity securities, determined
by quoted market prices on the date of receipt, of approximately $23 million is reflected in Gains on Sales
of Other Assets and Other, net in the Consolidated Statements of Operations for the three months ended
March 31, 2006. During the three months ended March 31, 2006, these securities were sold and an
additional gain of approximately $1 million was recognized in Other Income and Expenses, net in the
Consolidated Statements of Operations.
5. Commitments and Contingencies
Environmental. The Partnership is subject to federal, state and local regulations regarding air and water
quality, hazardous and solid waste disposal and other environmental matters.
Remediation activities. The Partnership is responsible for various environmental remediation obligations.
All of these obligations generally are managed in the normal course of business. The Partnership has
recorded reserves for remediation activities on an undiscounted basis of $10 million at March 31, 2007 and
December 31, 2006. Management believes that completion or resolution of these matters will have no
material adverse effect on consolidated results of operations, cash flows, or financial position.
Litigation. The Partnership is involved in legal, tax and regulatory proceedings in various forums
regarding performance, contracts and other matters arising in the ordinary course of business, some of
which involve substantial amounts. Management believes that the final disposition of these proceedings will
have no material adverse effect on the Partnership’s results of operations, cash flows or financial position.
7