Note 22. Condensed Consolidating Financial Information

EPO conducts substantially all of our business. Currently, we have no independent operations and no material assets outside those of EPO.

EPO has issued publicly traded debt securities. Enterprise Products Partners L.P., as the parent company of EPO, guarantees the debt obligations of EPO, with the exception of the remaining debt obligations of TEPPCO. If EPO were to default on any of its guaranteed debt, Enterprise Products Partners L.P. would be responsible for full repayment of that obligation. EPO's consolidated subsidiaries have no significant restrictions on their ability to pay distributions or make loans to Enterprise Products Partners L.P. See Note 12 for additional information regarding our consolidated debt obligations.

Enterprise Products Partners L.P.

Condensed Consolidating Balance Sheet

December 31, 2011

	EPO and Subsidiaries
	Subsidiary Issuer (EPO)		Other Subsidiaries (Non-guarantor)		EPO and Subsidiaries Eliminations and Adjustments			Consolidated EPO and Subsidiaries		Enterprise Products Partners L.P. (Guarantor)			Eliminations and Adjustments			Consolidated Total
ASSETS
Current assets:
Cash and cash equivalents and restricted cash	$	48.2	$	21.3	$	(11.2	)	$	58.3	$	--		$	--		$	58.3
Accounts receivable – trade, net		1,599.4		2,913.2		(10.8	)		4,501.8		--			--			4,501.8
Accounts receivable – related parties		141.1		2,155.5		(2,252.0	)		44.6		(1.1	)		--			43.5
Inventories		943.6		170.5		(2.4	)		1,111.7		--			--			1,111.7
Prepaid and other current assets		216.8		152.6		(16.0	)		353.4		--			--			353.4
Total current assets		2,949.1		5,413.1		(2,292.4	)		6,069.8		(1.1	)		--			6,068.7
Property, plant and equipment, net		1,477.5		20,723.7		(9.6	)		22,191.6		--			--			22,191.6
Investments in unconsolidated affiliates		27,060.0		8,266.7		(33,467.1	)		1,859.6		12,114.5			(12,114.5	)		1,859.6
Intangible assets, net		142.4		1,527.4		(13.6	)		1,656.2		--			--			1,656.2
Goodwill		458.9		1,633.4		--			2,092.3		--			--			2,092.3
Other assets		146.4		107.5		2.8			256.7		--			--			256.7
Total assets	$	32,234.3	$	37,671.8	$	(35,779.9	)	$	34,126.2	$	12,113.4		$	(12,114.5	)	$	34,125.1

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of debt	$	500.0	$	--	$	--		$	500.0	$	--		$	--		$	500.0
Accounts payable – trade		205.6		578.6		(11.2	)		773.0		--			--			773.0
Accounts payable – related parties		2,407.2		71.9		(2,267.5	)		211.6		--			--			211.6
Accrued product payables		2,141.0		2,912.4		(6.3	)		5,047.1		--			--			5,047.1
Accrued interest		287.1		1.0		--			288.1		--			--			288.1
Other current liabilities		298.1		321.8		(7.4	)		612.5		--			0.1			612.6
Total current liabilities		5,839.0		3,885.7		(2,292.4	)		7,432.3		--			0.1			7,432.4
Long-term debt		13,975.1		54.3		--			14,029.4		--			--			14,029.4
Deferred tax liabilities		22.2		67.1		2.8			92.1		--			(0.9	)		91.2
Other long-term liabilities		155.3		197.5		--			352.8		--			--			352.8
Commitments and contingencies
Equity:
Partners' and other owners' equity		12,242.7		28,799.8		(28,946.4	)		12,096.1		12,113.4			(12,096.1	)		12,113.4
Noncontrolling interests		--		4,667.4		(4,543.9	)		123.5		--			(17.6	)		105.9
Total equity		12,242.7		33,467.2		(33,490.3	)		12,219.6		12,113.4			(12,113.7	)		12,219.3
Total liabilities and equity	$	32,234.3	$	37,671.8	$	(35,779.9	)	$	34,126.2	$	12,113.4		$	(12,114.5	)	$	34,125.1

Enterprise Products Partners L.P.

Condensed Consolidating Balance Sheet

December 31, 2010

	EPO and Subsidiaries
	Subsidiary Issuer (EPO)		Other Subsidiaries (Non-guarantor)		EPO and Subsidiaries Eliminations and Adjustments			Consolidated EPO and Subsidiaries		Enterprise Products Partners L.P. (Guarantor)			Eliminations and Adjustments			Consolidated Total
ASSETS
Current assets:
Cash and cash equivalents and restricted cash	$	97.1	$	70.0	$	(2.9	)	$	164.2	$	--		$	--		$	164.2
Accounts receivable – trade, net		1,684.1		2,127.9		(11.9	)		3,800.1		--			--			3,800.1
Accounts receivable – related parties		206.3		927.6		(1,095.8	)		38.1		(1.3	)		--			36.8
Inventories		825.3		310.0		(1.3	)		1,134.0		--			--			1,134.0
Prepaid and other current assets		205.4		176.2		(9.6	)		372.0		--			--			372.0
Total current assets		3,018.2		3,611.7		(1,121.5	)		5,508.4		(1.3	)		--			5,507.1
Property, plant and equipment, net		1,461.0		17,881.9		(10.0	)		19,332.9		--			--			19,332.9
Investments in unconsolidated affiliates		22,640.3		6,254.0		(26,601.2	)		2,293.1		11,375.5			(11,375.5	)		2,293.1
Intangible assets, net		155.5		1,700.8		(14.6	)		1,841.7		--			--			1,841.7
Goodwill		469.1		1,638.6		--			2,107.7		--			--			2,107.7
Other assets		296.4		126.7		(144.8	)		278.3		--			--			278.3
Total assets	$	28,040.5	$	31,213.7	$	(27,892.1	)	$	31,362.1	$	11,374.2		$	(11,375.5	)	$	31,360.8

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of debt	$	--	$	282.3	$	--		$	282.3	$	--		$	--		$	282.3
Accounts payable – trade		138.1		406.8		(2.9	)		542.0		--			--			542.0
Accounts payable – related parties		1,159.0		204.3		(1,230.2	)		133.1		--			--			133.1
Accrued product payables		2,057.2		2,124.8		(17.2	)		4,164.8		--			--			4,164.8
Accrued interest		251.3		1.8		(0.2	)		252.9		--			--			252.9
Other current liabilities		217.2		294.7		(6.9	)		505.0		--			0.1			505.1
Total current liabilities		3,822.8		3,314.7		(1,257.4	)		5,880.1		--			0.1			5,880.2
Long-term debt		12,663.7		626.4		(8.9	)		13,281.2		--			--			13,281.2
Deferred tax liabilities		5.1		73.8		(0.1	)		78.8		--			(0.8	)		78.0
Other long-term liabilities		42.9		177.7		--			220.6		--			--			220.6
Commitments and contingencies
Equity:
Partners' and other owners' equity		11,506.0		23,176.8		(23,321.2	)		11,361.6		11,374.2			(11,361.6	)		11,374.2
Noncontrolling interests		--		3,844.3		(3,304.5	)		539.8		--			(13.2	)		526.6
Total equity		11,506.0		27,021.1		(26,625.7	)		11,901.4		11,374.2			(11,374.8	)		11,900.8
Total liabilities and equity	$	28,040.5	$	31,213.7	$	(27,892.1	)	$	31,362.1	$	11,374.2		$	(11,375.5	)	$	31,360.8

Enterprise Products Partners L.P.

Condensed Consolidating Statement of Operations

Year Ended December 31, 2011

	EPO and Subsidiaries
	Subsidiary Issuer (EPO)			Other Subsidiaries (Non-guarantor)			EPO and Subsidiaries Eliminations and Adjustments			Consolidated EPO and Subsidiaries			Enterprise Products Partners L.P. (Guarantor)		Eliminations and Adjustments			Consolidated Total
Revenues	$	33,063.8		$	27,971.8		$	(16,722.6	)	$	44,313.0		$	--	$	--		$	44,313.0
Costs and expenses:
Operating costs and expenses		32,432.7			25,609.7			(16,723.9	)		41,318.5			--		--			41,318.5
General and administrative costs		10.4			163.7			--			174.1			7.7		--			181.8
Total costs and expenses		32,443.1			25,773.4			(16,723.9	)		41,492.6			7.7		--			41,500.3
Equity in income of unconsolidated affiliates		2,194.4			131.7			(2,279.7	)		46.4			2,054.6		(2,054.6	)		46.4
Operating income		2,815.1			2,330.1			(2,278.4	)		2,866.8			2,046.9		(2,054.6	)		2,859.1
Other income (expense):
Interest expense		(725.1	)		(26.4	)		7.4			(744.1	)		--		--			(744.1	)
Other, net		7.8			0.1			(7.4	)		0.5			--		--			0.5
Total other expense, net		(717.3	)		(26.3	)		--			(743.6	)		--		--			(743.6	)
Income before provision for income taxes		2,097.8			2,303.8			(2,278.4	)		2,123.2			2,046.9		(2,054.6	)		2,115.5
Provision for income taxes		(45.3	)		18.4			--			(26.9	)		--		(0.3	)		(27.2	)
Net income		2,052.5			2,322.2			(2,278.4	)		2,096.3			2,046.9		(2,054.9	)		2,088.3
Net loss (income) attributable to noncontrolling interests		--			(51.7	)		9.2			(42.5	)		--		1.1			(41.4	)
Net income attributable to entity	$	2,052.5		$	2,270.5		$	(2,269.2	)	$	2,053.8		$	2,046.9	$	(2,053.8	)	$	2,046.9

Enterprise Products Partners L.P.

Condensed Consolidating Statement of Operations

Year Ended December 31, 2010

	EPO and Subsidiaries
	Subsidiary Issuer (EPO)			Other Subsidiaries (Non-guarantor)			EPO and Subsidiaries Eliminations and Adjustments			Consolidated EPO and Subsidiaries			Enterprise Products Partners L.P. (Guarantor)		Eliminations and Adjustments			Consolidated Total
Revenues	$	26,152.3		$	19,791.6		$	(12,204.6	)	$	33,739.3		$	--	$	--		$	33,739.3
Costs and expenses:
Operating costs and expenses		25,748.9			17,906.6			(12,206.2	)		31,449.3			--		--			31,449.3
General and administrative costs		15.7			183.6			--			199.3			5.5		--			204.8
Total costs and expenses		25,764.6			18,090.2			(12,206.2	)		31,648.6			5.5		--			31,654.1
Equity in income of unconsolidated affiliates		1,692.7			133.3			(1,764.0	)		62.0			1,427.2		(1,427.2	)		62.0
Operating income		2,080.4			1,834.7			(1,762.4	)		2,152.7			1,421.7		(1,427.2	)		2,147.2
Other income (expense):
Interest expense		(653.4	)		(99.0	)		10.5			(741.9	)		--		--			(741.9	)
Other, net		11.0			4.0			(10.5	)		4.5			--		--			4.5
Total other expense, net		(642.4	)		(95.0	)		--			(737.4	)		--		--			(737.4	)
Income before provision for income taxes		1,438.0			1,739.7			(1,762.4	)		1,415.3			1,421.7		(1,427.2	)		1,409.8
Provision for income taxes		(12.8	)		(13.0	)		--			(25.8	)		--		(0.3	)		(26.1	)
Net income		1,425.2			1,726.7			(1,762.4	)		1,389.5			1,421.7		(1,427.5	)		1,383.7
Net loss (income) attributable to noncontrolling interests		--			17.6			(80.9	)		(63.3	)		--		(999.6	)		(1,062.9	)
Net income attributable to entity	$	1,425.2		$	1,744.3		$	(1,843.3	)	$	1,326.2		$	1,421.7	$	(2,427.1	)	$	320.8

Enterprise Products Partners L.P.

Condensed Consolidating Statement of Operations

Year Ended December 31, 2009

	EPO and Subsidiaries
	Subsidiary Issuer (EPO)			Other Subsidiaries (Non-guarantor)			EPO and Subsidiaries Eliminations and Adjustments			Consolidated EPO and Subsidiaries			Enterprise Products Partners L.P. (Guarantor)		Holdings and EPGP			Eliminations and Adjustments			Consolidated Total
Revenues	$	18,986.8		$	14,496.0		$	(7,971.9	)	$	25,510.9		$	--	$	--		$	--		$	25,510.9
Costs and expenses:
Operating costs and expenses		18,647.9			12,821.8			(7,903.9	)		23,565.8			--		--			--			23,565.8
General and administrative costs		14.1			149.2			--			163.3			9.0		10.5			--			182.8
Total costs and expenses		18,662.0			12,971.0			(7,903.9	)		23,729.1			9.0		10.5			--			23,748.6
Equity in income of unconsolidated affiliates		1,225.8			117.5			(1,292.1	)		51.2			1,039.9		438.5			(1,437.3	)		92.3
Operating income		1,550.6			1,642.5			(1,360.1	)		1,833.0			1,030.9		428.0			(1,437.3	)		1,854.6
Other income (expense):
Interest expense		(514.1	)		(140.4	)		12.7			(641.8	)		--		(45.5	)		--			(687.3	)
Other, net		8.5			2.4			(12.7	)		(1.8	)		--		0.1			--			(1.7	)
Total other expense, net		(505.6	)		(138.0	)		--			(643.6	)		--		(45.4	)		--			(689.0	)
Income before provision for income taxes		1,045.0			1,504.5			(1,360.1	)		1,189.4			1,030.9		382.6			(1,437.3	)		1,165.6
Provision for income taxes		(7.8	)		(17.4	)		--			(25.2	)		--		--			(0.1	)		(25.3	)
Net income		1,037.2			1,487.1			(1,360.1	)		1,164.2			1,030.9		382.6			(1,437.4	)		1,140.3
Net loss (income) attributable to noncontrolling interests		--			21.6			(146.2	)		(124.6	)		--		--			(811.6	)		(936.2	)
Net income attributable to entity	$	1,037.2		$	1,508.7		$	(1,506.3	)	$	1,039.6		$	1,030.9	$	382.6		$	(2,249.0	)	$	204.1

Enterprise Products Partners L.P.

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2011

	EPO and Subsidiaries
	Subsidiary Issuer (EPO)			Other Subsidiaries (Non-guarantor)			EPO and Subsidiaries Eliminations and Adjustments			Consolidated EPO and Subsidiaries			Enterprise Products Partners L.P. (Guarantor)			Eliminations and Adjustments			Consolidated Total
Operating activities:
Net income	$	2,052.5		$	2,322.2		$	(2,278.4	)	$	2,096.3		$	2,046.9		$	(2,054.9	)	$	2,088.3
Reconciliation of net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion		119.7			888.7			(1.4	)		1,007.0			--			--			1,007.0
Equity in income of unconsolidated affiliates		(2,194.4	)		(131.7	)		2,279.7			(46.4	)		(2,054.6	)		2,054.6			(46.4	)
Distributions received from unconsolidated affiliates		150.3			196.8			(190.7	)		156.4			1,994.9			(1,994.9	)		156.4
Net effect of changes in operating accounts and other operating activities		1,036.4			(118.5	)		(789.8	)		128.1			(3.4	)		0.5			125.2
Net cash flows provided by operating activities		1,164.5			3,157.5			(980.6	)		3,341.4			1,983.8			(1,994.7	)		3,330.5
Investing activities:
Capital expenditures, net of contributions in aid of construction costs		(63.4	)		(3,779.2	)		--			(3,842.6	)		--			--			(3,842.6	)
Proceeds from asset sales		611.5			422.3			--			1,033.8			--			--			1,033.8
Other investing activities		(1,991.7	)		(1,292.6	)		3,315.5			31.2			(546.9	)		546.9			31.2
Cash used in investing activities		(1,443.6	)		(4,649.5	)		3,315.5			(2,777.6	)		(546.9	)		546.9			(2,777.6	)
Financing activities:
Borrowings under debt agreements		7,764.1			560.0			--			8,324.1			--			--			8,324.1
Repayments of debt		(5,970.0	)		(1,405.8	)		--			(7,375.8	)		--			--			(7,375.8	)
Cash distributions paid to partners		(1,994.9	)		(946.8	)		946.8			(1,994.9	)		(1,974.3	)		1,994.9			(1,974.3	)
Cash distributions paid to noncontrolling interests		--			(108.1	)		47.4			(60.7	)		--			--			(60.7	)
Cash contributions from noncontrolling interests		--			724.8			(716.1	)		8.7			--			(0.2	)		8.5
Net cash proceeds from issuance of common units		--			--			--			--			542.9			--			542.9
Cash contributions from owners		546.9			2,621.3			(2,621.3	)		546.9			--			(546.9	)		--
Other financing activities		(57.8	)		--			--			(57.8	)		(5.5	)		--			(63.3	)
Cash provided by (used in) financing activities		288.3			1,445.4			(2,343.2	)		(609.5	)		(1,436.9	)		1,447.8			(598.6	)
Net change in cash and cash equivalents		9.2			(46.6	)		(8.3	)		(45.7	)		--			--			(45.7	)
Cash and cash equivalents, January 1		0.5			67.9			(2.9	)		65.5			--			--			65.5
Cash and cash equivalents, December 31	$	9.7		$	21.3		$	(11.2	)	$	19.8		$	--		$	--		$	19.8

Enterprise Products Partners L.P.

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2010

	EPO and Subsidiaries
	Subsidiary Issuer (EPO)			Other Subsidiaries (Non-guarantor)			EPO and Subsidiaries Eliminations and Adjustments			Consolidated EPO and Subsidiaries			Enterprise Products Partners L.P. (Guarantor)			Eliminations and Adjustments			Consolidated Total
Operating activities:
Net income	$	1,425.2		$	1,726.7		$	(1,762.4	)	$	1,389.5		$	1,421.7		$	(1,427.5	)	$	1,383.7
Reconciliation of net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion		109.2			877.3			(1.4	)		985.1			--			--			985.1
Equity in income of unconsolidated affiliates		(1,692.7	)		(133.3	)		1,764.0			(62.0	)		(1,427.2	)		1,427.2			(62.0	)
Distributions received from unconsolidated affiliates		186.1			244.5			(238.7	)		191.9			1,714.4			(1,714.4	)		191.9
Net effect of changes in operating accounts and other operating activities		28.6			609.5			(840.9	)		(202.8	)		(275.8	)		279.9			(198.7	)
Net cash flows provided by operating activities		56.4			3,324.7			(1,079.4	)		2,301.7			1,433.1			(1,434.8	)		2,300.0
Investing activities:
Capital expenditures, net of contributions in aid of construction costs		(19.2	)		(1,982.9	)		--			(2,002.1	)		--			--			(2,002.1	)
Cash used for business combinations		(40.7	)		(1,273.2	)		--			(1,313.9	)		--			--			(1,313.9	)
Other investing activities		(1,827.3	)		144.3			1,747.4			64.4			(1,653.6	)		1,653.6			64.4
Cash used in investing activities		(1,887.2	)		(3,111.8	)		1,747.4			(3,251.6	)		(1,653.6	)		1,653.6			(3,251.6	)
Financing activities:
Borrowings under debt agreements		5,977.7			506.7			--			6,484.4			--			--			6,484.4
Repayments of debt		(4,085.8	)		(1,258.6	)		--			(5,344.4	)		--			--			(5,344.4	)
Cash distributions paid to partners		(1,714.4	)		(1,217.1	)		1,186.7			(1,744.8	)		(307.7	)		1,744.8			(307.7	)
Cash distributions paid to noncontrolling interests		--			(117.7	)		44.7			(73.0	)		--			(1,405.4	)		(1,478.4	)
Cash contributions from noncontrolling interests		--			517.6			(512.8	)		4.8			--			1,098.9			1,103.7
Net cash proceeds from issuance of common units		--			--			--			--			528.5			--			528.5
Cash contributions from owners		1,653.7			1,383.3			(1,383.3	)		1,653.7			--			(1,653.7	)		--
Other financing activities		(14.3	)		(6.8	)		--			(21.1	)		(0.3	)		(3.6	)		(25.0	)
Cash provided by (used in) financing activities		1,816.9			(192.6	)		(664.7	)		959.6			220.5			(219.0	)		961.1
Effect of exchange rate changes on cash		--			0.7			--			0.7			--			--			0.7
Net change in cash and cash equivalents		(13.9	)		20.3			3.3			9.7			--			(0.2	)		9.5
Cash and cash equivalents, January 1		14.4			46.9			(6.2	)		55.1			--			0.2			55.3
Cash and cash equivalents, December 31	$	0.5		$	67.9		$	(2.9	)	$	65.5		$	--		$	--		$	65.5

Enterprise Products Partners L.P.

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2009

	EPO and Subsidiaries
	Subsidiary Issuer (EPO)			Other Subsidiaries (Non-guarantor)			EPO and Subsidiaries Eliminations and Adjustments			Consolidated EPO and Subsidiaries			Enterprise Products Partners L.P. (Guarantor)			Holdings and EPGP			Eliminations and Adjustments			Consolidated Total
Operating activities:
Net income	$	1,037.2		$	1,487.1		$	(1,360.1	)	$	1,164.2		$	1,030.9		$	382.6		$	(1,437.4	)	$	1,140.3
Reconciliation of net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion		86.3			748.7			(1.6	)		833.4			--			2.1			1.3			836.8
Equity in income of unconsolidated affiliates		(1,225.8	)		(117.5	)		1,292.1			(51.2	)		(1,039.9	)		(438.5	)		1,437.3			(92.3	)
Distributions received from unconsolidated affiliates		258.6			79.8			(251.8	)		86.6			1,265.0			355.4			(1,537.7	)		169.3
Net effect of changes in operating accounts and other operating activities		1,320.5			(754.2	)		(209.1	)		357.2			(3.7	)		(3.4	)		6.1			356.2
Net cash flows provided by operating activities		1,476.8			1,443.9			(530.5	)		2,390.2			1,252.3			298.2			(1,530.4	)		2,410.3
Investing activities:
Capital expenditures, net of contributions in aid of construction costs		(209.9	)		(1,356.6	)		--			(1,566.5	)		--			--			--			(1,566.5	)
Cash used for business combinations		(23.7	)		(93.9	)		10.3			(107.3	)		--			--			--			(107.3	)
Other investing activities		(1,125.3	)		(13.1	)		1,265.3			126.9			(908.3	)		(37.9	)		945.4			126.1
Cash used in investing activities		(1,358.9	)		(1,463.6	)		1,275.6			(1,546.9	)		(908.3	)		(37.9	)		945.4			(1,547.7	)
Financing activities:
Borrowings under debt agreements		6,105.0			1,271.6			--			7,376.6			--			117.6			--			7,494.2
Repayments of debt		(5,838.2	)		(1,815.3	)		--			(7,653.5	)		--			(113.2	)		--			(7,766.7	)
Cash distributions paid to partners		(1,265.1	)		(448.1	)		448.1			(1,265.1	)		(1,254.8	)		(266.7	)		2,519.9			(266.7	)
Cash distributions paid to noncontrolling interests		--			(303.8	)		(36.4	)		(340.2	)		--			--			(981.9	)		(1,322.1	)
Cash contributions from noncontrolling interests		--			3.5			135.2			138.7			--			--			875.5			1,014.2
Net cash proceeds from issuance of common units		--			--			--			--			912.7			--			(912.7	)		--
Cash contributions from owners		908.3			1,288.8			(1,288.8	)		908.3			--			--			(908.3	)		--
Other financing activities		(14.5	)		(0.2	)		--			(14.7	)		(2.1	)		--			--			(16.8	)
Cash used in financing activities		(104.5	)		(3.5	)		(741.9	)		(849.9	)		(344.2	)		(262.3	)		592.5			(863.9	)
Effect of exchange rate changes on cash		--			(0.2	)		--			(0.2	)		--			--			--			(0.2	)
Net change in cash and cash equivalents		13.4			(23.2	)		3.2			(6.6	)		(0.2	)		(2.0	)		7.5			(1.3	)
Cash and cash equivalents, January 1		1.0			69.7			(9.4	)		61.3			0.2			2.6			(7.3	)		56.8
Cash and cash equivalents, December 31	$	14.4		$	46.3		$	(6.2	)	$	54.5		$	--		$	0.6		$	0.2		$	55.3