Inventories (Notes)

3 Months Ended

Mar. 31, 2012

INVENTORIES:

Inventories consisted of the following:



	March 31, 2012		December 31, 2011
Natural gas and NGLs, excluding propane	$	253,906	$	146,132
Propane	2,895		86,958
Appliances, parts and fittings and other	122,220		94,873
Total inventories	$	379,021	$	327,963

ETP utilizes commodity derivatives to manage price volatility associated with its natural gas inventory and designates certain of these derivatives as fair value hedges for accounting purposes. Changes in fair value of the designated hedged inventory have been recorded in inventory on our consolidated balance sheets and in cost of products sold in our consolidated statements of operations.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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