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2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp

Enbridge Energy Partners Lp · May 2, 2016 · 19 slides

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Slides

  1. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 1
    Supplemental Slides First Quarter 2016 Earnings Presentation May 2, 2016
  2. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 2
    First Quarter Earnings (Adjusted) Quarter Ended March 31, 2016 2015 Change Segmented operating income (loss): - Liquids (1) 310.5 272.4 38.1 - Natural Gas (1) (1.6) 7.1 (8.7) - Corporate (3.5) (4.0) 0.5 Operating income (1) 305.4…
  3. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 3
    Distribution Coverage As declared As paid Q1 2016 Q1 2016 Net income attributable to general and limited partner ownership in EEP 80.0 80.0 Noncash derivatives fair value losses 24.3 24.3 Accretion of discount on Series 1…
  4. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 4
    Segment Operating Income (Loss) (Adjusted) Quarter Ended March 31, Liquids 2016 2015 Change Operating revenue(1) 622.6 556.9 65.7 Power(1) (72.8) (63.6) (9.2) Environmental costs (1) (1.9) (0.8) (1.1) Operating and administrative…
  5. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 5
    Liquids Operating Income (Adjusted) Quarter Ended March 31, Year Ended December 31, Liquids Operating Income 2016 2015 2015 Lakehead 256.3 209.0 892.2 Mid-Continent 17.5 16.8 73.8 North Dakota 36.7 46.6 154.8 Liquids Operating…
  6. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 6
    Lakehead Operating Income (Adjusted) Quarter Ended March 31, Year Ended December 31, Lak ehead Operating Income 2016 2015 2015 Operating revenue(1) 514.0 438.1 1,827.5 Power (62.3) (53.3) (218.0) Operating and administrative…
  7. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 7
    Mid-Continent Operating Income (Adjusted) Quarter Ended March 31, Year Ended December 31, Mid-Continent Operating Income 2016 2015 2015 Operating revenue(1) 37.2 37.2 159.4 Power (1.8) (2.4) (10.2) Operating and administrative…
  8. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 8
    North Dakota Operating Income (Adjusted) Quarter Ended March 31, Year Ended December 31, North Dak ota Operating Income 2016 2015 2015 Operating revenue(1) 71.4 81.6 301.8 Power (8.7) (7.9) (31.3) Operating and administrative…
  9. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 9
    Impact of Line 6B Incident Estimated Costs* As of December 31, Booked in Q1 Total to Date 2015 2016 Total Costs 1,208 15 1,223 Less: Insurance Recoveries 547 0 547 Total Normalized 661 15 676 Unaudited amounts, in millions.…
  10. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 10
    Capital Expenditures Q1 2016 Maintenance Capex 12.0 (1)(2) Enhancement Capex 270.0 Ending PP&E, net 17,572.6 Q1 2016 Major Enhancement Expenditures Q1 2016 (1) North Dakota Expansions 35.8 Eastern Access (2) 70.9 Mainline…
  11. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 11
    Book Capitalization 3/31/2016 12/31/2015 Short-term debt 300.0 300.0 Long-term debt (1) 7,797.7 7,528.4 Total Debt 8,097.7 7,828.4 Partners' capital(1) 9,462.8 9,482.1 Total Capitalization 17,560.5 17,310.5 Total Debt / Total…
  12. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 12
    Volume History Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2014 2014 2014 2014 2015 2015 2015 2015 2016 Liquids Business - Volumes (kbpd) Lakehead 2,000 2,088 2,172 2,187 2,330 2,208 2,338 2,388 2,735 Mid-Continent 211 176 191 222 199 221 216 213…
  13. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 13
    Estimated Commodity Positions (April December 2016) Commodity-based gross margin 90% hedged for 2016 2016 Estimated Commodity Positions (1) Hedged Cash Physical Hedge Hedged Weighted Avg Flows (2) % Volume Hedge Price MM Natural…
  14. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 14
    Non-GAAP Reconciliations
  15. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 15
    First Quarter Earnings (GAAP) Quarter Ended March 31, Segmented and corporate operating income (loss): 2016 2015 Change - Liquids 301.4 270.2 31.2 - Natural Gas (29.9) (26.6) (3.3) - Corporate (3.5) (4.0) 0.5 Operating income 268.0…
  16. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 16
    Adjusted Earnings The foregoing presentation makes reference to adjusted net income in order to exclude the effect of non-cash and other items that are not indicative of our core operating results. A reconciliation to net income per…
  17. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 17
    Adjusted Segment Operating Income (Loss) The foregoing presentation makes reference to adjusted operating income, which combines certain GAAP measures as shown below. Liquids Natural Gas Q1 2016 Q1 2015 Q1 2016 Q1 2015 Operating…
  18. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 18
    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 2016 Q1 2015 Operating revenues 431.9 873.5…
  19. 2016 First Quarter Earnings Presentation Supplemental Slids – Enbridge Energy Partners Lp – slide 19
    Adjusted EBITDA and Distributable Cash Flow 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…

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