Energy Transfer Equity reported distributable cash of $119.1 million for the first quarter of 2009.
The partnership’s principal sources of cash flow are distributions it receives from its investments in the limited and general partner interests in Energy Transfer Partners (ETP). Energy Transfer Equity currently has no other operating activities apart from those conducted by the operating subsidiaries within ETP. Energy Transfer Equity’s principal uses of cash are for expenses, debt service and distributions to its general and limited partners.
Energy Transfer Equity’s increase in net income is due primarily to net unrealized losses on non-hedged interest rate derivatives recorded during the three months ended March 31, 2008.
