QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

QUARTERLY FINANCIAL DATA (UNAUDITED):

Summarized unaudited quarterly financial data is presented below. The sum of net income per Limited Partner unit by quarter does not equal the net income per limited partner unit for the year due to the computation of income allocation between the General Partner and Limited Partners and variations in the weighted average units outstanding used in computing such amounts. HOLP’s and Titan’s businesses are seasonal due to weather conditions in their service areas. Propane sales to residential and commercial customers are affected by winter heating season requirements, which generally results in higher operating revenues and net income during the period from October through March of each year and lower operating revenues and either net losses or lower net income during the period from April through September of each year. Sales to commercial and industrial customers are less weather sensitive. ETC OLP’s business is also seasonal due to the operations of ET Fuel System and the HPL System. We expect margin related to the HPL System operations to be higher during the periods from November through March of each year and lower during the periods from April through October of each year due to the increased demand for natural gas during the cold weather. However, we cannot assure that management’s expectations will be fully realized in the future and in what time period due to various factors including weather, availability of natural gas in regions in which we operate, competitive factors in the energy industry, and other issues.

	Quarter Ended										Total Year
	March 31		June 30			September 30			December 31
2011:
Revenues	$	1,687,577	$	1,628,095		$	1,715,316		$	1,819,452	$	6,850,440
Gross profit	693,120		619,467			639,790			708,710		2,661,087
Operating income	363,135		270,419			272,343			338,910		1,244,807
Net income	247,202		156,616			76,050			217,294		697,162
Limited Partners’ interest in net income (loss)	139,663		42,336			(38,045		)	91,872		235,826
Basic net income per limited partner unit (loss)	$	0.71	$	0.19		$	(0.19	)	$	0.41	$	1.10
Diluted net income per limited partner unit (loss)	$	0.71	$	0.19		$	(0.19	)	$	0.41	$	1.10
2010:
Revenues	$	1,871,981	$	1,267,706		$	1,290,644		$	1,454,496	$	5,884,827
Gross profit	647,116		496,849			513,233			627,688		2,284,886
Operating income	344,338		199,184			208,147			306,502		1,058,171
Net income	240,111		42,843			107,387			226,881		617,222
Limited Partners’ interest in net income (loss)	140,112		(47,756		)	10,341			126,796		229,493
Basic net income per limited partner unit (loss)	$	0.74	$	(0.26	)	$	0.05		$	0.65	$	1.20
Diluted net income per limited partner unit (loss)	$	0.74	$	(0.26	)	$	0.05		$	0.65	$	1.19

For the three months ended September 30, 2011 and June 30, 2010, distributions paid for the period exceeded net income attributable to partners by $229.2 million and $213.3 million, respectively. Accordingly, the distributions paid to the General Partner, including incentive distributions, further exceeded net income, and as a result, a net loss was allocated to the Limited Partners for the period.