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Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp

Enbridge Energy Partners Lp · May 1, 2015 · 15 slides

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Slides

  1. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 1
    Supplemental Slides Enbridge Energy Partners, L.P. First Quarter 2015 Earnings Presentation May 1, 2015
  2. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 2
    Quarter Earnings (Adjusted)* Quarter Ended March 31, 2015 2014 Change Segmented operating income (loss): - Liquids 272.4 205.2 67.2 - Natural Gas (1) 7.1 6.7 0.4 - Corporate (4.0) 0.3 (4.3) Operating income 275.5 212.2 63.3…
  3. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 3
    Distribution Coverage As declared As paid Q1 2015 Q1 2015 Net income attributable to general and limited partner ownership in EEP 140.1 140.1 Option premium amortization (1.0) (1.0) Noncash derivatives fair value gains 2.0 2.0…
  4. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 4
    Segment Operating Income (Adjusted)* Quarter Ended March 31, Liquids 2015 2014 Change Operating revenue 556.9 436.1 120.8 Power (63.6) (50.7) (12.9) Environmental costs (0.8) (5.0) 4.2 Operating and administrative (130.0) (108.4)…
  5. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 5
    Impact of Line 6B Incident Estimated Costs* As of December Booked in Q1 Total to Date 31, 2014 2015 Total Costs 1,208 0 1,208 Less: Insurance Recoveries 547 0 547 Total Normalized 661 0 661 Unaudited amounts, in millions.…
  6. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 6
    Capital Expenditures Q1 2015 Maintenance Capex 19.2 (1)(2) Enhancement Capex 492.6 Ending PP&E, net 16,157.9 Q1 2015 Major Enhancement Expenditures Q1 2015 (1) North Dakota Expansions 116.8 (2) Eastern Access 48.4 (2)…
  7. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 7
    Book Capitalization 3/31/2015 12/31/2014 Loans from affiliates - 306.0 Short-term debt - - Long-term debt (1) 6,795.5 6,475.2 Total Debt 6,795.5 6,781.2 Partners' capital(1) 9,528.5 9,140.8 Total Capitalization 16,324.0 15,922.0…
  8. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 8
    Volume History Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2013 2013 2013 2014 2014 2014 2014 2015 Liquids Business - Volumes (kbpd) Lakehead 1,836 1,683 1,825 1,918 2,000 2,088 2,172 2,187 2,330 Mid-Continent 222 170 216 195 211 176 191 222…
  9. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 9
    Estimated Commodity Positions (April December 2015) 2015 Estimated Commodity Positions (1) Hedged Cash Physical Hedge Hedged Weighted Avg Flows (2) % Volume Hedge Price MM Natural Gas 2,424 MMbtu/d 0% 0 0.00 /MMbtu (0.1) C2…
  10. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 10
    GAAP Reconciliation 10 en b r i d gep ar tn ers. com
  11. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 11
    First Quarter Earnings (GAAP) Quarter Ended March 31, Segmented and corporate operating income (loss): 2015 2014 Change - Liquids 270.2 202.1 68.1 - Natural Gas (26.6) 12.3 (38.9) - Corporate (4.0) 0.3 (4.3) Operating income 239.6…
  12. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 12
    Adjusted Earnings The foregoing presentation makes reference to adjusted net income in order to exclude the effect of non-cash derivative fair value gains and losses and other non-recurring items. A reconciliation to net income per…
  13. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 13
    Adjusted Segment Operating Income The foregoing presentation makes reference to adjusted operating income (loss), which combines certain GAAP measures as shown below. Liquids Natural Gas Q1 2015 Q1 2014 Q1 2015 Q1 2014 (1)…
  14. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 14
    Adjusted Gross Margin The foregoing presentation makes reference to gross margin for the Natural Gas segment, which combines certain GAAP measures as shown below. Natural Gas Q1 2015 Q1 2014 * Operating revenues 873.5 1,646.9…
  15. Q1 2015 SUPPLEMENTAL SLIDES – Enbridge Energy Partners Lp – slide 15
    Adjusted EBITDA The foregoing presentation makes reference to adjusted EBITDA which is used as a supplemental financial measurement to assess liquidity and the ability to generate cash sufficient to pay interest costs and make cash…

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