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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: |
Crude Oil Pipelines & Services | 65,186.0 | 40,887.0 | 6,689.0 | 44,900.3 | 11,042.6 | 8,156.8 | 6,515.0 | 15,467.9 |
NGL Pipelines & Services | 90,019.0 | 72,098.0 | 40,187.0 | 34,311.1 | 42,102.5 | 39,746.6 | 29,392.5 | 20,005.9 |
Petrochemical & Refined Products Services | 27,410.0 | 31,313.0 | 12,161.0 | 5,861.8 | 9,305.8 | 5,471.1 | 3,721.8 | 4,111.9 |
Natural Gas Pipelines & Services | 7,148.0 | 5,050.0 | 3,013.0 | 3,794.1 | 4,176.3 | 3,996.4 | 3,211.5 | 3,405.4 |
Total revenues | 58,186.0 | 40,807.0 | 27,200.0 | 32,789.2 | 36,534.2 | 29,241.5 | 23,022.3 | 27,027.9 |
Revenue growth [+] | 42.6% | 50.0% | -17.0% | -10.3% | 24.9% | 27.0% | -14.8% | -43.6% |
Crude Oil Pipelines & Services | 59.4% | 511.3% | -85.1% | 306.6% | 35.4% | 25.2% | -57.9% | -23.4% |
NGL Pipelines & Services | 24.9% | 79.4% | 17.1% | -18.5% | 5.9% | 35.2% | 46.9% | -35.1% |
Petrochemical & Refined Products Services | -12.5% | 157.5% | 107.5% | -37.0% | 70.1% | 47.0% | -9.5% | -34.9% |
Natural Gas Pipelines & Services | 41.5% | 67.6% | -20.6% | -9.2% | 4.5% | 24.4% | -5.7% | -35.9% |
Cost of goods sold | 97,338.0 | 64,965.0 | 39,094.0 | 49,127.6 | 58,187.1 | 47,044.5 | 35,354.4 | 43,281.6 |
Gross profit | -39,152.0 | -24,158.0 | -11,894.0 | -16,338.4 | -21,652.9 | -17,803.0 | -12,332.1 | -16,253.7 |
Gross margin | -67.3% | -59.2% | -43.7% | -49.8% | -59.3% | -60.9% | -53.6% | -60.1% |
Selling, general and administrative [+] | 241.0 | 209.0 | 220.0 | 211.7 | 208.3 | 181.1 | 160.1 | 192.6 |
General and administrative | 241.0 | 209.0 | 220.0 | 211.7 | 208.3 | 181.1 | 160.1 | 192.6 |
Equity in earnings | 464.0 | 583.0 | 426.0 | 563.0 | 480.0 | 426.0 | 362.0 | 373.6 |
Other operating expenses | -46,300.0 | -30,470.0 | -17,149.0 | -22,628.8 | -27,269.8 | -21,913.0 | -16,080.0 | -19,986.5 |
EBITDA [+] | | | | | 7,200.2 | 5,572.9 | 5,139.8 | 5,056.2 |
EBITDA growth | 13.3% | 20.8% | -17.2% | -13.1% | 29.2% | 8.4% | 1.7% | -1.6% |
EBITDA margin | 12.2% | 15.3% | 19.0% | 19.1% | 19.7% | 19.1% | 22.3% | 18.7% |
Depreciation | | | | | 1,621.3 | 1,477.1 | 1,380.7 | 1,341.9 |
EBITA | 7,084.0 | 6,254.0 | 5,178.0 | 6,253.4 | 5,578.9 | 4,095.8 | 3,759.1 | 3,714.3 |
EBITA margin | 12.2% | 15.3% | 19.0% | 19.1% | 15.3% | 14.0% | 16.3% | 13.7% |
Amortization of intangibles | 177.0 | 151.0 | 143.0 | 174.7 | 170.3 | 166.9 | 171.3 | 174.1 |
EBIT [+] | 6,907.0 | 6,103.0 | 5,035.0 | 6,078.7 | 5,408.6 | 3,928.9 | 3,587.8 | 3,540.2 |
EBIT growth | 13.2% | 21.2% | -17.2% | 12.4% | 37.7% | 9.5% | 1.3% | -6.2% |
EBIT margin | 11.9% | 15.0% | 18.5% | 18.5% | 14.8% | 13.4% | 15.6% | 13.1% |
Non-recurring items | | | | | | | 7.1 | |
Interest expense, net [+] | 1,233.0 | 1,278.0 | 1,274.0 | 1,231.4 | 1,093.1 | 983.3 | 982.6 | 961.8 |
Interest expense | 1,244.0 | 1,283.0 | 1,287.0 | 1,243.0 | 1,096.7 | 984.6 | 982.6 | 961.8 |
Interest income | 11.0 | 5.0 | 13.0 | 11.6 | 3.6 | 1.3 | | |
Other income (expense), net [+] | 23.0 | | 1.0 | -114.6 | -16.7 | -64.3 | -21.7 | -22.5 |
Extraordinary gain | | | | | 39.4 | | | |
Other | 23.0 | | 1.0 | 5.0 | | | 2.8 | 2.9 |
Pre-tax income | 5,697.0 | 4,825.0 | 3,762.0 | 4,732.7 | 4,298.8 | 2,881.3 | 2,576.4 | 2,555.9 |
Income taxes | 82.0 | 70.0 | -124.0 | 45.6 | 60.3 | 25.7 | 23.4 | -2.5 |
Tax rate | 1.4% | 1.5% | | 1.0% | 1.4% | 0.9% | 0.9% | |
Minority interest | | | | | | 56.3 | 39.9 | 37.2 |
Net income | 5,615.0 | 4,755.0 | 3,886.0 | 4,687.1 | 4,238.5 | 2,799.3 | 2,513.1 | 2,521.2 |
Net margin | 9.7% | 11.7% | 14.3% | 14.3% | 11.6% | 9.6% | 10.9% | 9.3% |
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Basic EPS [+] | $2.58 | $2.18 | $1.78 | $2.14 | $1.95 | $1.31 | $1.21 | $1.28 |
Growth | 18.4% | 22.5% | -17.0% | 10.0% | 49.2% | 8.1% | -5.8% | -15.0% |
Diluted EPS [+] | $2.58 | $2.18 | $1.78 | $2.14 | $1.95 | $1.31 | $1.21 | $1.28 |
Growth | 18.4% | 22.5% | -17.0% | 10.0% | 49.2% | 8.1% | -5.8% | -15.0% |
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Dividends per share [+] | $1.88 | $1.80 | $1.78 | $1.75 | $1.71 | $1.66 | $1.59 | $1.50 |
Growth | 4.4% | 1.1% | 1.5% | 2.5% | 2.9% | 5.0% | 5.9% | 4.9% |
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Shares outstanding (basic) [+] | 2,178.0 | 2,183.0 | 2,186.0 | 2,188.6 | 2,176.5 | 2,145.0 | 2,081.4 | 1,966.6 |
Growth | -0.2% | -0.1% | -0.1% | 0.6% | 1.5% | 3.1% | 5.8% | 6.4% |
Shares outstanding (diluted) [+] | 2,178.0 | 2,183.0 | 2,186.0 | 2,188.6 | 2,176.5 | 2,145.0 | 2,081.4 | 1,966.6 |
Growth | -0.2% | -0.1% | -0.1% | 0.6% | 1.5% | 3.1% | 5.8% | 6.4% |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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