Note 17. Condensed Consolidating Financial Information

EPO conducts 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. As the parent company of EPO, Enterprise Products Partners L.P. guarantees substantially all of the debt obligations of EPO. If EPO were to default on any of its guaranteed debt, Enterprise Products Partners L.P. would be responsible for full and unconditional repayment of that obligation. See Note 7 for additional information regarding our consolidated debt obligations.

EPO’s consolidated subsidiaries have no significant restrictions on their ability to pay distributions or make loans to Enterprise Products Partners L.P.

Enterprise Products Partners L.P.

Unaudited Condensed Consolidating Balance Sheet

March 31, 2019

	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	$	33.0	$	89.5	$	(15.0	)	$	107.5	$	--	$	--		$	107.5
Accounts receivable – trade, net		1,230.1		3,063.0		(2.4	)		4,290.7		--		--			4,290.7
Accounts receivable – related parties		232.1		1,006.1		(1,153.8	)		84.4		--		(81.9	)		2.5
Inventories		1,088.2		592.8		(0.5	)		1,680.5		--		--			1,680.5
Derivative assets		73.1		53.0		--			126.1		--		--			126.1
Prepaid and other current assets		206.9		238.6		(24.9	)		420.6		0.4		0.3			421.3
Total current assets		2,863.4		5,043.0		(1,196.6	)		6,709.8		0.4		(81.6	)		6,628.6
Property, plant and equipment, net		6,192.5		33,161.1		(6.1	)		39,347.5		--		--			39,347.5
Investments in unconsolidated affiliates		44,422.5		4,234.1		(46,002.3	)		2,654.3		24,586.3		(24,586.3	)		2,654.3
Intangible assets, net		654.3		2,925.2		(13.6	)		3,565.9		--		--			3,565.9
Goodwill		459.5		5,285.7		--			5,745.2		--		--			5,745.2
Other assets		389.4		287.8		(222.2	)		455.0		1.0		--			456.0
Total assets	$	54,981.6	$	50,936.9	$	(47,440.8	)	$	58,477.7	$	24,587.7	$	(24,667.9	)	$	58,397.5

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of debt	$	2,694.6	$	--	$	--		$	2,694.6	$	--	$	--		$	2,694.6
Accounts payable – trade		269.4		663.6		(15.0	)		918.0		0.1		--			918.1
Accounts payable – related parties		1,073.6		180.2		(1,167.2	)		86.6		81.9		(81.9	)		86.6
Accrued product payables		1,673.8		2,525.8		(2.9	)		4,196.7		--		--			4,196.7
Accrued interest		216.9		3.1		(3.1	)		216.9		--		--			216.9
Derivative liabilities		66.7		28.2		--			94.9		--		--			94.9
Other current liabilities		93.0		313.8		(21.9	)		384.9		--		--			384.9
Total current liabilities		6,088.0		3,714.7		(1,210.1	)		8,592.6		82.0		(81.9	)		8,592.7
Long-term debt		24,166.9		14.7		--			24,181.6		--		--			24,181.6
Deferred tax liabilities		16.1		64.6		(0.8	)		79.9		--		2.3			82.2
Other long-term liabilities		144.2		649.6		(221.9	)		571.9		447.8		--			1,019.7
Commitments and contingencies
Equity:
Partners’ and other owners’ equity		24,566.4		46,425.8		(46,433.3	)		24,558.9		24,057.9		(24,558.9	)		24,057.9
Noncontrolling interests		--		67.5		425.3			492.8		--		(29.4	)		463.4
Total equity		24,566.4		46,493.3		(46,008.0	)		25,051.7		24,057.9		(24,588.3	)		24,521.3
Total liabilities and equity	$	54,981.6	$	50,936.9	$	(47,440.8	)	$	58,477.7	$	24,587.7	$	(24,667.9	)	$	58,397.5

Enterprise Products Partners L.P.

Unaudited Condensed Consolidating Balance Sheet

December 31, 2018

	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	$	393.4	$	50.3	$	(33.6	)	$	410.1	$	--	$	--		$	410.1
Accounts receivable – trade, net		1,303.1		2,356.8		(0.8	)		3,659.1		--		--			3,659.1
Accounts receivable – related parties		141.8		1,423.7		(1,530.1	)		35.4		0.8		(32.7	)		3.5
Inventories		889.3		633.2		(0.4	)		1,522.1		--		--			1,522.1
Derivative assets		105.0		49.1		0.3			154.4		--		--			154.4
Prepaid and other current assets		166.0		155.1		(10.2	)		310.9		--		0.6			311.5
Total current assets		2,998.6		4,668.2		(1,574.8	)		6,092.0		0.8		(32.1	)		6,060.7
Property, plant and equipment, net		6,112.7		32,628.7		(3.8	)		38,737.6		--		--			38,737.6
Investments in unconsolidated affiliates		43,962.6		4,170.6		(45,518.1	)		2,615.1		24,273.6		(24,273.6	)		2,615.1
Intangible assets, net		659.2		2,963.0		(13.8	)		3,608.4		--		--			3,608.4
Goodwill		459.5		5,285.7		--			5,745.2		--		--			5,745.2
Other assets		292.1		131.9		(222.1	)		201.9		0.9		--			202.8
Total assets	$	54,484.7	$	49,848.1	$	(47,332.6	)	$	57,000.2	$	24,275.3	$	(24,305.7	)	$	56,969.8

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of debt	$	1,500.0	$	0.1	$	--		$	1,500.1	$	--	$	--		$	1,500.1
Accounts payable – trade		404.0		734.3		(35.5	)		1,102.8		--		--			1,102.8
Accounts payable – related parties		1,557.3		127.5		(1,543.9	)		140.9		31.9		(32.6	)		140.2
Accrued product payables		1,574.7		1,902.3		(1.2	)		3,475.8		--		--			3,475.8
Accrued interest		395.5		0.9		(0.8	)		395.6		--		--			395.6
Derivative liabilities		86.2		61.7		0.3			148.2		--		--			148.2
Other current liabilities		87.9		326.3		(9.4	)		404.8		--		--			404.8
Total current liabilities		5,605.6		3,153.1		(1,590.5	)		7,168.2		31.9		(32.6	)		7,167.5
Long-term debt		24,663.4		14.7		--			24,678.1		--		--			24,678.1
Deferred tax liabilities		17.0		62.0		(0.9	)		78.1		--		2.3			80.4
Other long-term liabilities		65.2		518.4		(221.9	)		361.7		389.9		--			751.6
Commitments and contingencies
Equity:
Partners’ and other owners’ equity		24,133.5		46,031.8		(45,917.9	)		24,247.4		23,853.5		(24,247.4	)		23,853.5
Noncontrolling interests		--		68.1		398.6			466.7		--		(28.0	)		438.7
Total equity		24,133.5		46,099.9		(45,519.3	)		24,714.1		23,853.5		(24,275.4	)		24,292.2
Total liabilities and equity	$	54,484.7	$	49,848.1	$	(47,332.6	)	$	57,000.2	$	24,275.3	$	(24,305.7	)	$	56,969.8

Enterprise Products Partners L.P.

Unaudited Condensed Consolidating Statement of Operations

For the Three Months Ended March 31, 2019

	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	$	9,477.8		$	5,639.6		$	(6,573.9	)	$	8,543.5		$	--		$	--		$	8,543.5
Costs and expenses:
Operating costs and expenses		9,149.5			4,440.1			(6,569.9	)		7,019.7			--			--			7,019.7
General and administrative costs		3.8			46.8			0.7			51.3			0.9			--			52.2
Total costs and expenses		9,153.3			4,486.9			(6,569.2	)		7,071.0			0.9			--			7,071.9
Equity in income of unconsolidated affiliates		1,276.8			172.1			(1,294.3	)		154.6			1,319.2			(1,319.2	)		154.6
Operating income		1,601.3			1,324.8			(1,299.0	)		1,627.1			1,318.3			(1,319.2	)		1,626.2
Other income (expense):
Interest expense		(277.3	)		(2.7	)		2.8			(277.2	)		--			--			(277.2	)
Other, net		3.1			1.2			(2.8	)		1.5			(57.8	)		--			(56.3	)
Total other income (expense), net		(274.2	)		(1.5	)		--			(275.7	)		(57.8	)		--			(333.5	)
Income before income taxes		1,327.1			1,323.3			(1,299.0	)		1,351.4			1,260.5			(1,319.2	)		1,292.7
Benefit from (provision for) income taxes		(4.2	)		(7.8	)		--			(12.0	)		--			(0.3	)		(12.3	)
Net income		1,322.9			1,315.5			(1,299.0	)		1,339.4			1,260.5			(1,319.5	)		1,280.4
Net income attributable to noncontrolling interests		--			(1.8	)		(19.4	)		(21.2	)		--			1.3			(19.9	)
Net income attributable to entity	$	1,322.9		$	1,313.7		$	(1,318.4	)	$	1,318.2		$	1,260.5		$	(1,318.2	)	$	1,260.5

Enterprise Products Partners L.P.

Unaudited Condensed Consolidating Statement of Operations

For the Three Months Ended March 31, 2018

	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	$	10,317.8		$	6,408.9		$	(7,428.2	)	$	9,298.5		$	--		$	--		$	9,298.5
Costs and expenses:
Operating costs and expenses		9,980.6			5,670.3			(7,428.2	)		8,222.7			--			--			8,222.7
General and administrative costs		5.4			46.7			--			52.1			0.9			--			53.0
Total costs and expenses		9,986.0			5,717.0			(7,428.2	)		8,274.8			0.9			--			8,275.7
Equity in income of unconsolidated affiliates		831.0			154.5			(869.8	)		115.7			909.1			(909.1	)		115.7
Operating income		1,162.8			846.4			(869.8	)		1,139.4			908.2			(909.1	)		1,138.5
Other income (expense):
Interest expense		(252.2	)		(2.5	)		2.6			(252.1	)		--			--			(252.1	)
Other, net		2.8			37.5			(2.6	)		37.7			(7.5	)		--			30.2
Total other income (expense), net		(249.4	)		35.0			--			(214.4	)		(7.5	)		--			(221.9	)
Income before income taxes		913.4			881.4			(869.8	)		925.0			900.7			(909.1	)		916.6
Provision for income taxes		(5.4	)		0.6			--			(4.8	)		--			(0.3	)		(5.1	)
Net income		908.0			882.0			(869.8	)		920.2			900.7			(909.4	)		911.5
Net income attributable to noncontrolling interests		--			(1.7	)		(10.4	)		(12.1	)		--			1.3			(10.8	)
Net income attributable to entity	$	908.0		$	880.3		$	(880.2	)	$	908.1		$	900.7		$	(908.1	)	$	900.7

Enterprise Products Partners L.P.

Unaudited Condensed Consolidating Statement of Comprehensive Income

For the Three Months Ended March 31, 2019

	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
Comprehensive income	$	1,294.2	$	1,199.3		$	(1,299.0	)	$	1,194.5		$	1,115.6	$	(1,174.6	)	$	1,135.5
Comprehensive income attributable to noncontrolling interests		--		(1.8	)		(19.4	)		(21.2	)		--		1.3			(19.9	)
Comprehensive income attributable to entity	$	1,294.2	$	1,197.5		$	(1,318.4	)	$	1,173.3		$	1,115.6	$	(1,173.3	)	$	1,115.6

Enterprise Products Partners L.P.

Unaudited Condensed Consolidating Statement of Comprehensive Income

For the Three Months Ended March 31, 2018

	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
Comprehensive income	$	918.9	$	881.5		$	(869.8	)	$	930.6		$	911.2	$	(919.8	)	$	922.0
Comprehensive income attributable to noncontrolling interests		--		(1.7	)		(10.4	)		(12.1	)		--		1.3			(10.8	)
Comprehensive income attributable to entity	$	918.9	$	879.8		$	(880.2	)	$	918.5		$	911.2	$	(918.5	)	$	911.2

Enterprise Products Partners L.P.

Unaudited Condensed Consolidating Statement of Cash Flows

For the Three Months Ended March 31, 2019

	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	$	1,322.9		$	1,315.5		$	(1,299.0	)	$	1,339.4		$	1,260.5		$	(1,319.5	)	$	1,280.4
Reconciliation of net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion		74.9			399.8			(0.2	)		474.5			--			--			474.5
Equity in income of unconsolidated affiliates		(1,276.8	)		(172.1	)		1,294.3			(154.6	)		(1,319.2	)		1,319.2			(154.6	)
Distributions received on earnings from unconsolidated affiliates		338.4			83.0			(282.4	)		139.0			981.7			(981.7	)		139.0
Net effect of changes in operating accounts and other operating activities		100.9			(861.7	)		27.7			(733.1	)		154.0			0.2			(578.9	)
Net cash flows provided by operating activities		560.3			764.5			(259.6	)		1,065.2			1,077.0			(981.8	)		1,160.4
Investing activities:
Capital expenditures		(223.8	)		(921.0	)		(4.1	)		(1,148.9	)		--			--			(1,148.9	)
Cash used for business combination, net of cash received		--			--			--			--			--			--			--
Proceeds from asset sales		0.2			1.5			--			1.7			--			--			1.7
Other investing activities		(492.8	)		(10.1	)		475.6			(27.3	)		(84.1	)		84.1			(27.3	)
Cash used in investing activities		(716.4	)		(929.6	)		471.5			(1,174.5	)		(84.1	)		84.1			(1,174.5	)
Financing activities:
Borrowings under debt agreements		15,692.4			--			--			15,692.4			--			--			15,692.4
Repayments of debt		(14,999.1	)		(0.1	)		--			(14,999.2	)		--			--			(14,999.2	)
Cash distributions paid to owners		(981.7	)		(300.5	)		300.5			(981.7	)		(950.4	)		981.7			(950.4	)
Cash payments made in connection with DERs		--			--			--			--			(4.5	)		--			(4.5	)
Cash distributions paid to noncontrolling interests		--			(2.4	)		(15.7	)		(18.1	)		--			0.1			(18.0	)
Cash contributions from noncontrolling interests		--			--			34.8			34.8			--			--			34.8
Net cash proceeds from issuance of common units		--			--			--			--			42.7			--			42.7
Common units acquired in connection with buyback program		--			--			--			--			(51.6	)		--			(51.6	)
Cash contributions from owners		84.1			512.9			(512.9	)		84.1			--			(84.1	)		--
Other financing activities		--			(5.6	)		--			(5.6	)		(29.1	)		--			(34.7	)
Cash provided by (used in) financing activities		(204.3	)		204.3			(193.3	)		(193.3	)		(992.9	)		897.7			(288.5	)
Net change in cash and cash equivalents, including restricted cash		(360.4	)		39.2			18.6			(302.6	)		--			--			(302.6	)
Cash and cash equivalents, including restricted cash, at beginning of period		393.4			50.3			(33.6	)		410.1			--			--			410.1
Cash and cash equivalents, including restricted cash, at end of period	$	33.0		$	89.5		$	(15.0	)	$	107.5		$	--		$	--		$	107.5

Enterprise Products Partners L.P.

Unaudited Condensed Consolidating Statement of Cash Flows

For the Three Months Ended March 31, 2018

	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	$	908.0		$	882.0		$	(869.8	)	$	920.2		$	900.7		$	(909.4	)	$	911.5
Reconciliation of net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion		58.2			367.8			(0.1	)		425.9			--			--			425.9
Equity in income of unconsolidated affiliates		(831.0	)		(154.5	)		869.8			(115.7	)		(909.1	)		909.1			(115.7	)
Distributions received on earnings from unconsolidated affiliates		283.4			66.8			(242.7	)		107.5			920.1			(920.1	)		107.5
Net effect of changes in operating accounts and other operating activities		392.2			(545.7	)		26.1			(127.4	)		31.8			--			(95.6	)
Net cash flows provided by operating activities		810.8			616.4			(216.7	)		1,210.5			943.5			(920.4	)		1,233.6
Investing activities:
Capital expenditures		(284.0	)		(662.5	)		--			(946.5	)		--			--			(946.5	)
Cash used for business combination, net of cash received		--			(149.8	)		--			(149.8	)		--			--			(149.8	)
Proceeds from asset sales		0.2			0.9			--			1.1			--			--			1.1
Other investing activities		(474.6	)		(0.5	)		451.2			(23.9	)		(173.2	)		173.2			(23.9	)
Cash used in investing activities		(758.4	)		(811.9	)		451.2			(1,119.1	)		(173.2	)		173.2			(1,119.1	)
Financing activities:
Borrowings under debt agreements		16,283.8			11.5			(11.5	)		16,283.8			--			--			16,283.8
Repayments of debt		(15,444.6	)		(0.1	)		--			(15,444.7	)		--			--			(15,444.7	)
Cash distributions paid to owners		(920.1	)		(259.3	)		259.3			(920.1	)		(918.5	)		920.1			(918.5	)
Cash payments made in connection with DERs		--			--			--			--			(3.9	)		--			(3.9	)
Cash distributions paid to noncontrolling interests		--			(2.0	)		(13.7	)		(15.7	)		--			0.3			(15.4	)
Cash contributions from noncontrolling interests		--			--			0.1			0.1			--			--			0.1
Net cash proceeds from issuance of common units		--			--			--			--			177.0			--			177.0
Cash contributions from owners		173.2			442.7			(442.7	)		173.2			--			(173.2	)		--
Other financing activities		(22.7	)		--			--			(22.7	)		(24.9	)		--			(47.6	)
Cash provided by (used in) financing activities		69.6			192.8			(208.5	)		53.9			(770.3	)		747.2			30.8
Net change in cash and cash equivalents, including restricted cash		122.0			(2.7	)		26.0			145.3			--			--			145.3
Cash and cash equivalents, including restricted cash, at beginning of period		65.2			31.5			(26.4	)		70.3			--			--			70.3
Cash and cash equivalents, including restricted cash, at end of period	$	187.2		$	28.8		$	(0.4	)	$	215.6		$	--		$	--		$	215.6