Spectra Energy Partners LP (SEP) financial statements (2020 and earlier)

Company profile

Business Address 5400 WESTHEIMER COURT
HOUSTON, TX 77056
State of Incorp. DE
Fiscal Year End December 31
SIC 4922 - Natural Gas Transmission (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments10721616814012121
Cash and cash equivalents10721616814012121
Receivables37238027230635524
Inventory, net of allowances, customer advances and progress billings40403742423
Inventory40403742423
Deferred costs 641   
Prepaid expense and other current assets3
Other current assets4218262347
Other undisclosed current assets   44 6
Total current assets:56166054455556555
Noncurrent Assets
Property, plant and equipment14,89916,09213,83712,13511,3631,206
Long-term investments and receivables3,3021,1279041,5891,396921
Long-term investments3,3021,1279041,5891,396921
Intangible assets, net (including goodwill)2,9573,2343,2323,2443,215462
Goodwill2,9573,2343,2323,2443,215462
Regulated entity, other noncurrent assets 38529026225320
Other noncurrent assets 1084482
Prepaid expense and other noncurrent assets141
Investments and other noncurrent assets4,6131,524
Other undisclosed noncurrent assets337   (4,613)(1,524)
Total noncurrent assets:21,49520,94618,30717,23816,2292,750
TOTAL ASSETS:22,05621,60618,85117,79316,7942,806
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities41159645436927513
Accounts payable2594413222462314
Taxes payable84766063449
Interest and dividends payable68797260  
Debt500990759943783336
Due to related parties   61  
Other liabilities1941932581702163
Other undisclosed current liabilities   (61)6134
Total current liabilities:1,1051,7791,4711,4821,335386
Noncurrent Liabilities
Long-term debt and lease obligation7,9636,2235,8455,1495,178700
Long-term debt, excluding current maturities7,9636,2235,8455,1495,178700
Liabilities, other than long-term debt 20018915614014
Deferred tax liabilities, net 423837349
Other liabilities 1581511191065
Other undisclosed noncurrent liabilities1,087     
Total noncurrent liabilities:9,0506,4236,0345,3055,318714
Total liabilities:10,1558,2027,5056,7876,6531,100
Stockholders' equity
Stockholders' equity attributable to parent(33)(45)(50)(20)(5)4
Accumulated other comprehensive income (loss)(33)(45)(50)(20)(5)4
Other undisclosed stockholders' equity11,934     
Total stockholders' equity:11,901(45)(50)(20)(5)4
Other undisclosed liabilities and equity 13,44911,39611,02610,1461,702
TOTAL LIABILITIES AND EQUITY:22,05621,60618,85117,79316,7942,806

Income statement (P&L) ($ in millions)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues1,9502,5332,4552,2691,965237
Revenue, net1,9502,5332,4552,3572,023237
Cost of revenue(543)(483)(432)(443)(389)(96)
Gross profit:1,4072,0502,0231,8261,576140
Operating expenses(844)(822)(750)(690)(603)(22)
Operating income:5631,2281,2731,136973118
Nonoperating income424253243164147108
Public utilities, allowance for funds used during construction, additions   42960
Public utilities, allowance for funds used during construction, capitalized cost of equity   33580
Other nonoperating income1171267631580
Interest and debt expense(265)(224)(239)(238)(383)(31)
Income from continuing operations before equity method investments, income taxes:7221,2571,2771,062737195
Income from equity method investments   13389108
Other undisclosed loss from continuing operations before income taxes   (133)(88)(108)
Income from continuing operations before income taxes:7221,2571,2771,062738195
Income tax expense (benefit)(19)(18)(12)(35)348(1)
Net income:7031,2391,2651,0271,086194
Net loss attributable to noncontrolling interest (78)(40)(23)(16) 
Other undisclosed net loss attributable to parent(94)     
Net income attributable to parent:6091,1611,2251,0041,070194
Preferred stock dividends and other adjustments(349)     
Net income available to common stockholders, diluted:2601,1611,2251,0041,070194

Comprehensive Income ($ in millions)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net income:7031,2391,2651,0271,086194
Other comprehensive income (loss)125(30)(15)(8) 
Comprehensive income:7151,2441,2351,0121,078194
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(94)(78)(40)(23)16 
Other undisclosed comprehensive loss, net of tax, attributable to parent    (32)(1)
Comprehensive income, net of tax, attributable to parent:6211,1661,1959891,062193

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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