Page 118 - DCP AR2011 Dev

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DCP MIDSTREAM PARTNERS, LP
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31,
2011
2010
2009
(Millions, except per unit amounts)
Operating revenues:
Sales of natural gas, propane, NGLs and condensate . . . . . . . . . . . . . . . . . . . . $ 820.5 $ 634.3 $456.3
Sales of natural gas, propane, NGLs and condensate to affiliates . . . . . . . . . . . 592.8 528.4 456.7
Transportation, processing and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129.8
94.9 79.2
Transportation, processing and other to affiliates . . . . . . . . . . . . . . . . . . . . . . .
33.4
20.4 16.0
Losses from commodity derivative activity, net . . . . . . . . . . . . . . . . . . . . . . . .
(6.0)
(7.3) (62.3)
Losses from commodity derivative activity, net — affiliates . . . . . . . . . . . . . .
(0.7)
(1.2)
(3.5)
Total operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,569.8 1,269.5 942.4
Operating costs and expenses:
Purchases of natural gas, propane and NGLs . . . . . . . . . . . . . . . . . . . . . . . . . . 783.0 755.2 529.5
Purchases of natural gas, propane and NGLs from affiliates . . . . . . . . . . . . . . 446.8 277.4 246.7
Operating and maintenance expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105.4
79.8 69.7
Depreciation and amortization expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
81.0
73.7 64.9
General and administrative expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.9
14.3 11.9
General and administrative expense — affiliates . . . . . . . . . . . . . . . . . . . . . . .
19.4
19.4 20.4
Step acquisition — equity interest re-measurement gain . . . . . . . . . . . . . . . . . —
(9.1) —
Other income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(0.5)
(1.0) —
Other income — affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —
(3.0) —
Total operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,453.0 1,206.7 943.1
Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116.8
62.8
(0.7)
Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 0.3
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(33.9)
(29.1) (28.3)
Earnings from unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
36.9
38.2 26.9
Income (loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119.8
71.9
(1.8)
Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(0.6)
(0.3)
(0.6)
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119.2
71.6
(2.4)
Net income attributable to noncontrolling interests . . . . . . . . . . . . . . . . . . . .
(18.8)
(9.2)
(8.3)
Net income (loss) attributable to partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.4
62.4
(10.7)
Net income attributable to predecessor operations . . . . . . . . . . . . . . . . . . . . —
(14.4)
(7.4)
General partner’s interest in net income or net loss . . . . . . . . . . . . . . . . . . .
(25.2)
(16.9) (12.7)
Net income (loss) allocable to limited partners . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 75.2 $ 31.1 $ (30.8)
Net income (loss) per limited partner unit — basic . . . . . . . . . . . . . . . . . . . . . . . . $ 1.73 $ 0.86 $ (0.99)
Net income (loss) per limited partner unit — diluted . . . . . . . . . . . . . . . . . . . . . . $ 1.72 $ 0.86 $ (0.99)
Weighted-average limited partner units outstanding — basic . . . . . . . . . . . . . . . .
43.5
36.1 31.2
Weighted-average limited partner units outstanding — diluted . . . . . . . . . . . . . .
43.6
36.1 31.2
See accompanying notes to consolidated financial statements.
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