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MMP
Magellan Midstream Partners
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Oil & Gas
Midstream
Limited Partner
Exchange Listing Date 2/6/2001

Net Income Growth %

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Distribution Growth %

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Distribution Coverage Ratio

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Distributable Cash Flow (in thousands)

Year Over Year Quarter Over Quarter
3/31/2019 YoY % Change 3/31/2018 3/31/2019 QoQ % Change 12/31/2018
Net Income $207,663 -6.77% $222,736 $207,663 -33.88% $314,072
Plus:
Interest Expense$51,426 $46,723$51,426 $46,793
Depreciation and Amortization$53,876 $47,298$53,876 $103,351
Equity Based Incentive Compensation Expense$-2,653 $-9,728$-2,653 $7,441
Asset Retirements and Impairments $3,461 $1,189
Derivative Associated With Future Product Transactions$11,479 $-23,773$11,479 $-81,930
Gain on exchange of interest in NCE  
Derivative Associated With Products Sold In This Period$-20,412 $-20,412 $-24,315
Lower of Cost of Market Adjustments  $9,011
Houston to El Paso Cost of Sales Adj  
Other$3,644 $1,450$3,644 $-1,523
Adjusted EBITDA $324,388 12.51% $288,326 $324,388 -13.29% $374,089
Less:
Interest Expense$50,586 $45,897$50,586 $46,019
Maintenance CAPEX$14,860 $14,829$14,860 $25,633
Distributable Cash Flow $258,942 13.77% $227,600 $258,942 -14.38% $302,437
Actual Distributions $227,000 $209,940 $227,000 $223,061
GP Distributions
Subordinated Distributions
Unit Holder Distributions $209,940 $223,061
Distribution Coverage 1.14 x 1.08 x 1.14 x 1.35 x

Distributable Cash Flow (in thousands)

Year To Date
YTD 2019 Q1
Net Income $207,663 $207,663
Plus:
Interest Expense$51,426$51,426
Depreciation and Amortization$53,876$53,876
Equity Based Incentive Compensation Expense$-2,653$-2,653
Asset Retirements and Impairments0
Derivative Associated With Future Product Transactions$11,479$11,479
Gain on exchange of interest in NCE0
Derivative Associated With Products Sold In This Period$-20,412$-20,412
Lower of Cost of Market Adjustments0
Houston to El Paso Cost of Sales Adj0
Other$3,644$3,644
Adjusted EBITDA $324,388 $324,388
Less:
Interest Expense$50,586$50,586
Maintenance CAPEX$14,860$14,860
Distributable Cash Flow $258,942 $258,942
Actual Distributions $227,000 $227,000
GP Distributions 0
Subordinated Distributions 0
Unit Holder Distributions 0
Distribution Coverage 1.14 x 1.14 x

Distributable Cash Flow (in thousands)

Trailing Twelve Month
TTM 2019 Q1 2018 Q4 2018 Q3 2018 Q2
Net Income $1,330,678 $207,663 $314,072 $594,534 $214,409
Plus:
Interest Expense$200,514$51,426$46,793$51,533$50,762
Depreciation and Amortization$267,074$53,876$103,351$56,228$53,619
Equity Based Incentive Compensation Expense$22,768$-2,653$7,441$7,933$10,047
Asset Retirements and Impairments$5,448$1,189$1,670$2,589
Derivative Associated With Future Product Transactions$-42,653$11,479$-81,930$-1,520$29,318
Gain on exchange of interest in NCE0
Derivative Associated With Products Sold In This Period$-44,727$-20,412$-24,315
Lower of Cost of Market Adjustments$9,011$9,011
Houston to El Paso Cost of Sales Adj0
Other$-349,094$3,644$-1,523$-351,215
Adjusted EBITDA $1,395,755 $324,388 $374,089 $358,657 $338,621
Less:
Interest Expense$197,274$50,586$46,019$50,741$49,928
Maintenance CAPEX$88,736$14,860$25,633$26,143$22,100
Distributable Cash Flow $1,109,745 $258,942 $302,437 $281,773 $266,593
Actual Distributions $882,491 $227,000 $223,061 $218,497 $213,933
GP Distributions 0
Subordinated Distributions 0
Unit Holder Distributions $718,767 $223,061 $281,773 $213,933
Distribution Coverage 1.26 x 1.14 x 1.35 x 1.29 x 1.25 x

Distributable Cash Flow (in thousands)

All History
 
TTM 2019 Q12018 Q42018 Q32018 Q22018 Q12017 Q42017 Q32017 Q22017 Q12016 Q42016 Q32016 Q22016 Q12015 Q42015 Q32015 Q22015 Q12014 Q42014 Q32014 Q22014 Q12013 Q42013 Q32013 Q22013 Q12012 Q4
$1,330,678 $207,663 $314,072 $594,534 $214,409 $222,736 $237,895 $198,500 $210,400 $222,736 $213,291 $194,551 $187,859 $207,070 $207,123 $250,973 $177,391 $183,636 $252,085 $198,620 $146,260 $242,554 $190,007 $125,623 $153,640 $112,967 $153,803
                           
$200,514 $51,426 $46,793 $51,533 $50,762 $46,723 $50,657 $48,231 $48,107 $46,723 $45,047 $41,984 $41,152 $37,227 $35,198 $36,320 $36,271 $35,309 $33,863 $26,651 $31,356 $30,715 $31,211 $27,857 $30,277 $28,250 $27,736
$267,074 $53,876 $103,351 $56,228 $53,619 $47,298 $50,527 $49,909 $48,896 $47,298 $44,005 $47,081 $43,302 $43,754 $42,632 $42,636 $41,080 $42,284 $39,845 $38,620 $47,499 $38,110 $37,246 $35,810 $34,726 $36,872 $33,855
$22,768 $-2,653 $7,441 $7,933 $10,047 $-9,728 $6,458 $3,466 $6,570 $-9,728 $4,622 $4,677 $3,409 $-7,726 $9,019 $4,645 $5,788 $-13,033 $9,553 $4,978 $7,665 $-9,725 $9,584 $4,217 $5,425 $-7,403 $8,481
$5,448 N/A $1,189 $1,670 $2,589 $3,461 $5,789 $2,250 $1,870 $3,461 $5,793 $2,134 $1,004 $-2,259 $3,492 $2,316 $2,087 $-3 $2,393 $1,520 $2,105 $1,205 $3,566 $1,971 $507 $1,791 $2,047
$-42,653 $11,479 $-81,930 $-1,520 $29,318 $-23,773 $32,347 N/A $-5,955 $-23,773 $23,943 $5,871 N/A N/A $-14,674 $-68,293 $9,556 $4,537 $-75,939 $-39,246 $13,597 $-131 $1,280 $-2,770 $-8,096 $2,261 $-26
0 N/A N/A N/A N/A N/A N/A N/A $10,725 N/A N/A N/A $-1,244 $-26,900 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
$-44,727 $-20,412 $-24,315 N/A N/A N/A $-8,241 N/A N/A N/A $-5,600 $12,272 $16,823 $21,701 $21,076 $13,018 $26,682 $56,400 $17,120 $-3,817 $-1,931 $-5,250 $2,896 $1,301 $-1,556 $-5,250 $-1,629
$9,011 N/A $9,011 N/A N/A N/A $-3,716 0 $1,983 N/A 0 $-1,083 N/A $-1,715 $4,360 $464 $-10,102 $-29,062 $36,856 $2,453 0 0 $-1,506 $-551 $2,057 $-2,000 $2,000
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 0 0 0 0 0 0 0 $-6,389
$-349,094 $3,644 $-1,523 $-351,215 N/A $1,450 $5,697 $19,995 $1,450 $1,609 $1,450 $1,315 $2,040 $2,416 $7,032 $9,974 $-7,140 $4,866 $-12,217 $1,659 $1,438 $396 $2,519 $2,011 $362 $-1,279 $4,413
$1,395,755 $324,388 $374,089 $358,657 $338,621 $288,326 $377,413 $313,290 $323,909 $288,326 $338,841 $311,750 $292,520 $270,132 $315,258 $292,053 $281,613 $284,934 $303,559 $231,438 $247,989 $297,874 $288,343 $195,469 $217,342 $166,264 $224,291
                           
$197,274 $50,586 $46,019 $50,741 $49,928 $45,897 $49,824 $47,403 $47,279 $45,897 $44,222 $41,171 $40,435 $36,513 $34,352 $36,320 $36,271 $35,309 $33,863 $26,651 $31,356 $30,715 $31,211 $27,857 $30,277 $28,250 $27,736
$88,736 $14,860 $25,633 $26,143 $22,100 $14,829 $19,331 $30,737 $26,266 $14,829 $17,404 $26,657 $31,164 $28,282 $24,010 $25,686 $22,513 $16,501 $21,641 $21,401 $20,787 $13,977 $20,562 $22,533 $18,878 $14,108 $17,202
$1,109,745 $258,942 $302,437 $281,773 $266,593 $227,600 $308,258 $235,150 $250,364 $227,600 $277,215 $243,992 $221,011 $205,337 $256,896 $230,047 $222,829 $233,124 $248,055 $183,386 $195,846 $253,182 $236,570 $145,079 $168,187 $123,906 $179,353
$882,491 $227,000 $223,061 $218,497 $213,933 $209,940 $206,362 $203,033 $198,860 $194,961 $190,770 $186,784 $182,796 $178,808 $173,413 $168,296 $163,178 $158,061 $151,569 $145,323 $139,079 $132,835 $126,950 $120,747 $115,040 $113,300 $110,974
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
$718,767 N/A $223,061 $281,773 $213,933 $209,940 $206,362 $203,033 $198,860 $194,961 $190,770 $186,784 $182,796 $178,808 $173,413 $168,296 $163,178 $158,061 $151,569 $145,323 $139,079 $132,835 $126,950 $120,747 $115,040 $113,300 N/A
1.26 x 1.14 x 1.35 x 1.29 x 1.25 x 1.08 x 1.49 x 1.16 x 1.26 x 1.16 x 1.45 x 1.30 x 1.21 x 1.15 x 1.48 x 1.37 x 1.37 x 1.47 x 1.64 x 1.26 x 1.41 x 1.91 x 1.86 x 1.20 x 1.46 x 1.09 x 1.49 x
Net Income
Plus:
Interest Expense
Depreciation and Amortization
Equity Based Incentive Compensation Expense
Asset Retirements and Impairments
Derivative Associated With Future Product Transactions
Gain on exchange of interest in NCE
Derivative Associated With Products Sold In This Period
Lower of Cost of Market Adjustments
Houston to El Paso Cost of Sales Adj
Other
Adjusted EBITDA
Less:
Interest Expense
Maintenance CAPEX
Distributable Cash Flow
Actual Distributions
GP Distributions
Subordinated Distributions
Unit Holder Distributions
Distribution Coverage
 

No Incentive Distribution Rights to the General Partner. Distributions are made only to common class and unit holders.