TESORO LOGISTICS LP (ANDX) [Rocket]

In millions, except per share items	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Gathering and Processing	1,263.0	1,129.0	1,064.0	617.0
Terminalling revenues	888.0	690.0	480.0	377.0
Sales of natural gas, NGLS and condensate	436.0	369.0	103.0	99.0
Crude oil and water gathering	336.0	262.0	582.0	123.0
Other		799.0
Total revenues	2,000.0	3,249.0	1,669.0	1,112.0	600.0	313.0	164.0	87.3
Revenue growth [+]	-38.4%	94.7%	50.1%	85.3%	91.7%	90.9%	87.8%	811.7%
Gathering and Processing	11.9%	6.1%	72.4%
Terminalling revenues	28.7%	43.8%	27.3%
Sales of natural gas, NGLS and condensate	18.2%	258.3%	4.0%
Crude oil and water gathering	28.2%	-55.0%	373.2%
Gas gathering and processing	-0.9%	26.1%	-3.6%
Cost of goods sold	885.0	691.0	560.0	428.0	324.0	184.0	87.0	54.3
Gross profit	1,115.0	2,558.0	1,109.0	684.0	276.0	129.0	77.0	33.0
Gross margin	55.8%	78.7%	66.4%	61.5%	46.0%	41.2%	47.0%	37.8%
Selling, general and administrative [+]	160.0	212.0	133.0	130.0	74.0	32.0	16.0	8.8
General and administrative	160.0	212.0	133.0	130.0	74.0	32.0	16.0	8.8
Equity in earnings	31.0	22.0	13.0	7.0	1.0
Other operating expenses	-213.0	1,455.0	291.0	-27.0	-43.0	-12.0	-12.0	-7.2
EBITDA [+]	1,199.0	913.0	698.0	588.0	246.0	109.0	73.0	31.4
EBITDA growth	31.3%	30.8%	18.7%	139.0%	125.7%	49.3%	132.4%	-238.0%
EBITDA margin	60.0%	28.1%	41.8%	52.9%	41.0%	34.8%	44.5%	36.0%
Depreciation	318.0	267.0	204.0	158.0	85.0	46.0	15.0	11.3
EBITA	881.0	646.0	494.0	430.0	161.0	63.0	58.0	20.1
EBITA margin	44.1%	19.9%	29.6%	38.7%	26.8%	20.1%	35.4%	23.1%
Amortization of intangibles	50.0	46.0	29.0	29.0
EBIT [+]	831.0	600.0	465.0	401.0	161.0	63.0	58.0	20.1
EBIT growth	38.5%	29.0%	16.0%	149.1%	155.6%	8.6%	188.1%	-159.2%
EBIT margin	41.6%	18.5%	27.9%	36.1%	26.8%	20.1%	35.4%	23.1%
Non-recurring items [+]	4.0	-25.0	4.0	1.0	-4.0		1.0	0.0
Loss (gain) on sale of assets	4.0	-25.0	4.0	1.0	-4.0		1.0	0.0
Interest expense	233.0	330.0	195.0	150.0	109.0	39.0	9.0	1.6
Interest expense	233.0	330.0	195.0	150.0	109.0	39.0	9.0	1.6
Other income (expense), net	6.0	11.0	11.0
Pre-tax income	600.0	306.0	277.0	250.0	56.0	24.0	48.0	18.5
Income taxes	-28.0	-43.0	-62.0	1.0	0.0	0.0	0.0	0.0
Tax rate				0.4%	0.0%	0.0%	0.0%	0.0%
Minority interest				-20.0	-3.0
Net income	584.0	267.0	187.0	199.0	56.0	68.0	54.0	33.9
Net margin	29.2%	8.2%	11.2%	17.9%	9.3%	21.7%	32.9%	38.8%

Basic EPS [+]	$2.55	$2.12	$1.90	$2.35	$1.03	$2.16	$3.25	$2.22
Growth	20.5%	11.3%	-18.9%	127.4%	-52.1%	-33.6%	46.4%
Diluted EPS [+]	$2.55	$2.12	$1.90	$2.35	$1.03	$2.15	$3.23	$2.22
Growth	20.5%	11.2%	-18.9%	127.1%	-52.0%	-33.4%	45.8%

Dividends per share [+]	$3.76	$4.21	$3.30	$2.83			$3.73	$1.91
Growth	-10.7%	27.5%	16.4%			-100.0%	94.9%

Shares outstanding (basic) [+]	228.7	126.0	98.2	84.7	54.2	31.5	16.6	15.3
Growth	81.5%	28.3%	15.9%	56.3%	72.1%	89.6%	8.9%
Shares outstanding (diluted) [+]	228.9	126.1	98.2	84.8	54.2	31.6	16.7	15.3
Growth	81.5%	28.4%	15.8%	56.5%	71.5%	89.1%	9.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.