Energy Transfer Operating, L.P. (ETP) [Rocket]

In millions, except per share items	Dec-31-20	Sep-30-20	Jun-30-20	Mar-31-20	Dec-31-19	Sep-30-19	Jun-30-19	Mar-31-19
	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q
Revenues:
Crude oil transportation and services	2,802.0	2,850.0	1,839.0	4,213.0	4,762.0	4,453.0	5,046.0	4,186.0
Midstream	1,461.0	1,377.0	1,018.0	1,170.0	1,535.0	1,580.0	1,198.0	1,718.0
Intrastate transportation and storage	781.0	654.0	516.0	593.0	714.0	764.0	765.0	856.0
NGL and refined products transportation and services	3,056.0	2,623.0	2,119.0	2,715.0	3,120.0	2,878.0	2,612.0	3,031.0
Other	1,934.0	2,451.0	1,846.0	2,877.0	3,589.0	3,820.0	4,256.0	3,330.0
Total revenues	10,034.0	9,955.0	7,338.0	11,568.0	13,720.0	13,495.0	13,877.0	13,121.0
Revenue growth [+]	-26.9%	-26.2%	-47.1%	-11.8%	1.1%	-7.0%	-1.7%	10.4%
Crude oil transportation and services	-41.2%	-36.0%	-63.6%	0.6%	9.6%	0.3%	5.1%	11.8%
Midstream	-4.8%	-12.8%	-15.0%	-31.9%	-13.8%	-29.9%	-36.1%	6.4%
Intrastate transportation and storage	9.4%	-14.4%	-32.5%	-30.7%	-36.6%	-17.1%	-5.9%	-2.2%
NGL and refined products transportation and services	-2.1%	-8.9%	-18.9%	-10.4%	5.9%	-6.0%	1.7%	19.0%
Interstate transportation and storage	-2.4%	-1.7%	-9.7%	-6.8%	-0.4%	7.6%	30.4%	36.4%
Cost of goods sold [+]	4,281.0	7,149.0	4,887.0	9,139.0	7,753.0	10,670.0	11,093.0	10,285.0
Maintenance and operations costs		773.0	770.0	848.0		806.0	792.0	808.0
Gross profit	5,753.0	2,806.0	2,451.0	2,429.0	5,967.0	2,825.0	2,784.0	2,836.0
Gross margin	57.3%	28.2%	33.4%	21.0%	43.5%	20.9%	20.1%	21.6%
Selling, general and administrative [+]	154.0	174.0	171.0	192.0	191.0	171.0	175.0	149.0
General and administrative	154.0				191.0
Equity in earnings	73.0	-32.0	85.0	-7.0	78.0	82.0	77.0	65.0
Other operating expenses	3,218.0				3,294.0
EBITDA [+]	2,454.0	2,600.0	2,379.0	2,230.0	2,560.0	2,736.0	2,686.0	2,752.0
EBITDA growth	-4.1%	-5.0%	-11.4%	-19.0%	-7.2%	7.3%	39.8%	49.2%
EBITDA margin	24.5%	26.1%	32.4%	19.3%	18.7%	20.3%	19.4%	21.0%
Depreciation and amortization	960.0	910.0	948.0	851.0	802.0	782.0	781.0	771.0
EBIT [+]	1,494.0	1,690.0	1,431.0	1,379.0	1,758.0	1,954.0	1,905.0	1,981.0
EBIT growth	-15.0%	-13.5%	-24.9%	-30.4%	-12.8%	8.4%	54.9%	67.3%
EBIT margin	14.9%	17.0%	19.5%	11.9%	12.8%	14.5%	13.7%	15.1%
Non-recurring items [+]	77.0	1,474.0	4.0	1,325.0	12.0	12.0		50.0
Asset impairment	77.0	1,474.0	4.0	1,325.0	12.0	12.0		50.0
Interest expense	576.0	569.0	578.0	595.0	582.0	575.0	578.0	527.0
Interest expense	576.0	569.0	578.0	595.0	582.0	575.0	578.0	527.0
Other income (expense), net [+]	97.0	33.0	-32.0	-313.0	183.0	-62.0	-10.0	-59.0
Impairment of equity method investments		-129.0
Gain (loss) on derivative instruments	-203.0				-241.0
Other	36.0	107.0	-29.0	75.0	53.0	113.0	112.0	17.0
Pre-tax income	938.0	-320.0	817.0	-854.0	1,347.0	1,305.0	1,317.0	1,345.0
Income taxes	70.0	42.0	98.0	53.0	-17.0	55.0	35.0	126.0
Tax rate	7.5%		12.0%			4.2%	2.7%	9.4%
Minority interest	101.0	284.0	225.0	-200.0	268.0	261.0	266.0	256.0
Net income	555.0	-604.0	592.0	-654.0	826.0	1,044.0	1,051.0	1,089.0
Net margin	5.5%	-6.1%	8.1%	-5.7%	6.0%	7.7%	7.6%	8.3%

Basic EPS
Diluted EPS

Shares outstanding (basic)
Shares outstanding (diluted)

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