(2)
(2)
(2)
(2)
(2)
For the years ended
(amounts in millions except per unit amounts)
12/31/11 12/31/10 12/31/09 12/31/08 12/31/07
Statements of Operations Data
Adjusted EBITDA
(1)
$ 179.4 $ 157.6 $ 154.6 $ 122.7 $ 143.9
Adjusted net income attributable to partners
(1)
$ 79.9 $ 66.4 $ 73.1 $ 52.3 $ 91.1
Adjusted net income per limited partner unit - basic and diluted
(1)
$ 1.26 $ 0.97 $ 1.67 $ 0.47 $ 2.76
Wtd avg limited partners units outstanding - diluted
43.6
36.1 31.2
27.4
20.5
As of
(amounts in millions)
Balance Sheet Data
Total assets
$ 1,903.6 $ 1,813.2 $ 1,552.3 $ 1,492.2 $ 1,458.5
Long-term debt
$ 746.8 $ 647.8 $ 613.0 $ 656.5 $ 630.0
Partners’ equity
$ 628.5 $ 630.7 $ 448.5 $ 467.6 $ 310.1
Noncontrolling interests
$ 212.4 $ 220.1 $ 227.7 $ 167.7 $ 155.1
Other Financial Data
Cash distributions declared per limited partner unit
(3)
$ 2.548 $ 2.438 $ 2.400 $ 2.390 $ 2.115
For the years ended
Operating Statistics
Natural gas throughput (MMcf/d)
1,209
1,272 1,152
1,035
969
NGL gross production (Bbls/d)
39,426
40,962 34,708
32,946
35,852
NGL pipelines throughput (BBls/d)
62,555
38,282 30,160
31,407
28,961
Propane sales volume (BBls/d)
24,743
22,350 22,278
21,053
22,798
(1) Denotes a fnancial measure not presented in accordance with U.S. generally accepted accounting principles, or GAAP. Each such non-GAAP fnancial measure is reconciled to its most
directly comparable GAAP fnancial measure on the inside back cover of this document.
(2) On July 1, 2007, we closed on the acquisition of our initial 25% limited liability company interest in DCP East Texas Holdings, LLC (East Texas) and our 40% equity interest in
Discovery Producer Services LLC (Discovery) from DCP Midstream, LLC. On April 1, 2009, we closed on the acquisition of an additional 25.1% limited liability interest in East Texas
from DCP Midstream, LLC. On January 1, 2011, we closed on the acquisition of our initial 33.33% interest in DCP Southeast Texas Holdings, GP (Southeast Texas) from
DCP Midstream, LLC. Our fnancial information includes the historical results of our 50.1% interest in East Texas, our 40% equity interest in Discovery, and our 33.33% interest
in Southeast Texas for all the periods presented. Earnings for periods prior to these acquisitions are allocated to predecessor operations to derive net loss or income attributable to
limited partners. The 2007-2010 results do not refect our fee-based storage arrangement for the Partnership at our Southeast Texas asset.
(3) Cash distributions declared per limited partner unit represent cash distributions declared with respect to the four fscal quarters of each year presented.
2011
2005
2006
2007
2008
2009
2010
$100
$200
$0
$300
$400
DPM
Alerian MLP Total Return Index
S&P 500 Index
Comparative Total Returns
12/01/05 - 12/31/11
(1) The Alerian MLP Total Return Index (NYSE: AMZX) is a composite of the 50 most prominent energy master limited partnerships that provides a comprehensive
benchmark for this asset class. The index, which is calculated using a foat-adjusted, capitalization-weighted methodology, is disseminated real-time on a total-
return basis.
The Partnership has outperformed the MLP sector and S&P 500 indexes on a total return basis since our initial public offering in
December 2005.
DPM 247%
Alerian
(1)
140%
S&P 13%