DCP MIDSTREAM PARTNERS, LP
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2011, 2010 and 2009 — (Continued)
Condensed Consolidating Statements of Operations
Year Ended December 31, 2010
Parent
Guarantor
Subsidiary
Issuer
Non-Guarantor
Subsidiaries
Consolidating
Adjustments Consolidated
(Millions)
Operating revenues:
Sales of natural gas, propane, NGLs and
condensate . . . . . . . . . . . . . . . . . . . . . . . $ — $ — $1,162.7
$ — $1,162.7
Transportation, processing and other . . . . — —
115.3 —
115.3
Losses from commodity derivative
activity, net . . . . . . . . . . . . . . . . . . . . . . — —
(8.5) —
(8.5)
Total operating revenues . . . . . . . . . . . . — —
1,269.5 —
1,269.5
Operating costs and expenses:
Purchases of natural gas, propane and
NGLs . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
1,032.6 —
1,032.6
Operating and maintenance expense . . . . . — —
79.8 —
79.8
Depreciation and amortization expense . . — —
73.7 —
73.7
General and administrative expense . . . . . —
0.2
33.5 —
33.7
Step acquisition — equity interest
re-measurement gain . . . . . . . . . . . . . . . — —
(9.1) —
(9.1)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . — —
(4.0) —
(4.0)
Total operating costs and expenses . . . . —
0.2
1,206.5 —
1,206.7
Operating (loss) income . . . . . . . . . . . . . . . . —
(0.2)
63.0 —
62.8
Interest expense, net . . . . . . . . . . . . . . . . . . . —
(28.8)
(0.3) —
(29.1)
Earnings from unconsolidated affiliates . . . . — —
38.2 —
38.2
Earnings (losses) from consolidated
subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . 62.4
91.4 —
(153.8) —
Income (loss) before income taxes . . . . . . . . 62.4
62.4
100.9
(153.8)
71.9
Income tax expense . . . . . . . . . . . . . . . . . . . . — —
(0.3) —
(0.3)
Net income (loss) . . . . . . . . . . . . . . . . . . . . . 62.4
62.4
100.6
(153.8)
71.6
Net income attributable to noncontrolling
interests . . . . . . . . . . . . . . . . . . . . . . . . . — —
(9.2) —
(9.2)
Net income (loss) attributable to partners . . . $62.4 $ 62.4 $ 91.4
$(153.8) $ 62.4
158