Boardwalk Pipeline Partners, LP (BWP) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Firm Service	1,311.9	1,247.5	1,211.7	1,228.3	1,161.7
Interruptible Service	56.2	32.0	33.2	29.0	32.2
Other revenues	29.9	26.1	18.9	9.1	11.6
Total revenues [+]	1,398.0	1,305.6	1,263.8	1,266.4	1,205.5	1,322.6	1,307.2	1,249.2
Net interest income						64.7	77.3	65.4
Other	74.0	77.1	69.2	57.0	49.7	64.7	77.3	65.4
Revenue growth [+]	7.1%	3.3%	-0.2%	5.1%	-8.9%	1.2%	4.6%	1.2%
Firm Service	5.2%	3.0%	-1.4%	5.7%
Interruptible Service	75.6%	-3.6%	14.5%	-9.9%
Other revenues	14.6%	38.1%	107.7%	-21.6%
Cost of goods sold	250.9	226.9	212.3	219.1	205.6	204.2	199.9	209.5
Gross profit	1,147.1	1,078.7	1,051.5	1,047.3	999.9	1,118.4	1,107.3	1,039.7
Gross margin	82.1%	82.6%	83.2%	82.7%	82.9%	84.6%	84.7%	83.2%
Selling, general and administrative [+]	262.2	257.8	252.7	245.7	240.1	227.8	238.6	221.0
General and administrative [+]	262.2	257.8	252.7	245.7	240.1	227.8	238.6	221.0
General and administrative expenses	147.7	144.6	139.9	141.1	136.3	129.0	143.3	130.4
Operating taxes	114.5	113.2	112.8	104.6	103.8	98.8	95.3	90.6
Other selling, general and administrative
Equity in earnings
Other operating expenses	-6.6	-12.5	-14.6	-15.0	0.8	54.8	70.8	90.5
EBITDA [+]	891.5	833.4	813.4	816.6	759.0	835.8	797.9	728.2
EBITDA growth	7.0%	2.5%	-0.4%	7.6%	-9.2%	4.7%	9.6%	21.3%
EBITDA margin	63.8%	63.8%	64.4%	64.5%	63.0%	63.2%	61.0%	58.3%
Depreciation	390.4	364.4	356.9	344.2	342.7	320.8	315.8	321.7
EBITA	501.1	469.0	456.5	472.4	416.3	515.0	482.1	406.5
EBITA margin	35.8%	35.9%	36.1%	37.3%	34.5%	38.9%	36.9%	32.5%
Amortization of intangibles	1.9	1.9	1.9	1.9	2.0	2.0	2.0	2.0
EBIT [+]	499.2	467.1	454.6	470.5	414.3	513.0	480.1	404.5
EBIT growth	6.9%	2.7%	-3.4%	13.6%	-19.2%	6.9%	18.7%	29.8%
EBIT margin	35.7%	35.8%	36.0%	37.2%	34.4%	38.8%	36.7%	32.4%
Non-recurring items [+]				-3.2	-0.2	49.0	3.7	8.7
Asset impairment				-3.2	-0.2	49.0	3.7	-0.1
Interest expense, net [+]	162.6	160.8	169.7	178.4	175.6	170.6	182.4	176.0
Interest expense	165.9	160.8	169.7	178.7	175.7	171.0	182.8	176.4
Interest income	3.3			0.3	0.1	0.4	0.4	0.4
Other income (expense), net [+]	6.4	9.4	5.9	0.9	2.0	4.6	8.8	2.7
Other	6.4	9.4	5.9	0.9	2.0	4.6	8.8	2.7
Pre-tax income	343.0	315.7	290.8	296.2	240.9	298.0	302.8	222.5
Income taxes	0.8	0.7	0.3	0.5	0.6	1.0	0.6	0.5
Tax rate	0.2%	0.2%	0.1%	0.2%	0.2%	0.3%	0.2%	0.2%
Net income	342.2	315.0	290.5	295.7	240.3	297.0	302.2	222.0
Net margin	24.5%	24.1%	23.0%	23.3%	19.9%	22.5%	23.1%	17.8%

Basic EPS [+]						$1.19	$1.21	$0.89
Growth						-1.7%	35.3%	-7.1%
Diluted EPS [+]						$1.19	$1.21	$0.89
Growth						-1.7%	35.3%	-7.1%

Dividends per share [+]						$0.41	$0.41	$0.41
Growth						0.0%	0.1%	0.1%

Shares outstanding (basic) [+]						250.3	250.3	248.8
Growth						0.0%	0.6%	2.3%
Shares outstanding (diluted) [+]						250.3	250.3	248.8
Growth						0.0%	0.6%	2.3%

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