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SHLX
Shell Midstream Partners LP
Icon Print
Oil
Midstream
Limited Partner
Exchange Listing Date 10/29/2014

Net Income Growth %

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Distribution Growth %

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Distribution Coverage Ratio

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Distributable Cash Flow (in millions)

Year Over Year Quarter Over Quarter
9/30/2018 YoY % Change 9/30/2017 9/30/2018 QoQ % Change 6/30/2018
Net Income $ 154.20 106.98% $ 74.50 $ 154.20 33.62% $ 115.40
Plus:
Asset Sale  
Allowance oil reduction to net realizable value  
Depreciation and Amortization$ 11.60 $ 8.90$ 11.60 $ 11.40
Interest Expense$ 19.00 $ 9.70$ 19.00 $ 13.30
Income Tax Expense$ 0.10 $ 0.10 $ 0.10
Cash Distribution from equity investments - Mars  
Cash Distribution from equity investments - Bengal  
Cash Distribution from equity investments - Poseidon $ 42.50 
Cash Distribution from equity investments - Odyssey  
Income from equity investments  
Pre IPO   
Non controlling interests$ -6.30 $ -2.20$ -6.30 
Adjusted EBITDA $ 187.00 102.82% $ 92.20 $ 187.00 20.49% $ 155.20
Less:
Net interest paid$ 18.90 $ 9.70$ 18.90 $ 132.00
Maintenance CAPEX$ 4.80 $ 6.10$ 4.80 $ 5.70
Deficiency Payment$ -0.80 $ -4.40$ -0.80 $ 1.30
Reimbursements from Parent incl. in Partners' Capital$ 1.10 $ -3.10$ 1.10 
Waiver Payment  
Distributable Cash Flow $ 163.50 94.87% $ 83.90 $ 163.50 19.69% $ 136.60
Actual Distributions $ 113.40 $ 68.20 $ 113.40 $ 105.70
GP Distributions $ 31.70 $ 14.30 $ 31.70 $ 27.80
Subordinated Distributions
Unit Holder Distributions $ 81.70 $ 53.90 $ 81.70 $ 77.90
Distribution Coverage 1.44 x 1.23 x 1.44 x 1.29 x

Distributable Cash Flow (in millions)

Year To Date
YTD 2018 Q3 2018 Q2 2018 Q1
Net Income $ 334.40 $ 154.20 $ 115.40 $ 64.80
Plus:
Asset Sale0
Allowance oil reduction to net realizable value0
Depreciation and Amortization$ 34.40$ 11.60$ 11.40$ 11.40
Interest Expense$ 42.90$ 19.00$ 13.30$ 10.60
Income Tax Expense$ 0.20$ 0.10$ 0.10
Cash Distribution from equity investments - Mars0
Cash Distribution from equity investments - Bengal0
Cash Distribution from equity investments - Poseidon0
Cash Distribution from equity investments - Odyssey$ 51.10$ 51.10
Income from equity investments0
Pre IPO 0
Non controlling interests$ -6.30$ -6.30
Adjusted EBITDA $ 438.00 $ 187.00 $ 155.20 $ 95.80
Less:
Net interest paid$ 161.50$ 18.90$ 132.00$ 10.60
Maintenance CAPEX$ 18.20$ 4.80$ 5.70$ 7.70
Deficiency Payment$ -1.30$ -0.80$ 1.30$ -1.80
Reimbursements from Parent incl. in Partners' Capital$ 5.50$ 1.10$ 4.40
Waiver Payment0
Distributable Cash Flow $ 380.20 $ 163.50 $ 136.60 $ 80.10
Actual Distributions $ 302.20 $ 113.40 $ 105.70 $ 83.10
GP Distributions $ 80.10 $ 31.70 $ 27.80 $ 20.60
Subordinated Distributions 0
Unit Holder Distributions $ 222.10 $ 81.70 $ 77.90 $ 62.50
Distribution Coverage 1.26 x 1.44 x 1.29 x 0.97 x

Distributable Cash Flow (in millions)

Trailing Twelve Month
TTM 2018 Q3 2018 Q2 2018 Q1 2017 Q4
Net Income $ 436.90 $ 154.20 $ 115.40 $ 64.80 $ 102.50
Plus:
Asset Sale$ 0.10$ 0.10
Allowance oil reduction to net realizable value0
Depreciation and Amortization$ 46.10$ 11.60$ 11.40$ 11.40$ 11.70
Interest Expense$ 53.10$ 19.00$ 13.30$ 10.60$ 10.20
Income Tax Expense$ 0.30$ 0.10$ 0.10$ 0.10
Cash Distribution from equity investments - Mars$ 52.10$ 52.10
Cash Distribution from equity investments - Bengal0
Cash Distribution from equity investments - Poseidon0
Cash Distribution from equity investments - Odyssey$ 51.10$ 51.10
Income from equity investments$ 46.10$ 46.10
Pre IPO 0
Non controlling interests$ -6.30$ -6.30
Adjusted EBITDA $ 556.70 $ 187.00 $ 155.20 $ 95.80 $ 118.70
Less:
Net interest paid$ 171.80$ 18.90$ 132.00$ 10.60$ 10.30
Maintenance CAPEX$ 24.80$ 4.80$ 5.70$ 7.70$ 6.60
Deficiency Payment$ 6.00$ -0.80$ 1.30$ -1.80$ 7.30
Reimbursements from Parent incl. in Partners' Capital$ 3.00$ 1.10$ 4.40$ -2.50
Waiver Payment0
Distributable Cash Flow $ 477.20 $ 163.50 $ 136.60 $ 80.10 $ 97.00
Actual Distributions $ 379.60 $ 113.40 $ 105.70 $ 83.10 $ 77.40
GP Distributions $ 97.80 $ 31.70 $ 27.80 $ 20.60 $ 17.70
Subordinated Distributions 0
Unit Holder Distributions $ 222.10 $ 81.70 $ 77.90 $ 62.50
Distribution Coverage 1.26 x 1.44 x 1.29 x 0.97 x 1.25 x

Distributable Cash Flow (in millions)

All History
 
TTM 2018 Q32018 Q22018 Q12017 Q42017 Q32017 Q22017 Q12016 Q42016 Q32016 Q22016 Q12015 Q42015 Q32015 Q22015 Q12014 Q42014 Q32014 Q22014 Q12013 Q42013 Q32013 Q22013 Q12012 Q4
$ 436.90 $ 154.20 $ 115.40 $ 64.80 $ 102.50 $ 74.50 $ 68.70 $ 73.00 $ 72.30 $ 58.80 $ 66.30 $ 68.00 $ 72.50 $ 74.40 $ 45.30 $ 41.40 $ 35.60 N/E N/E N/E N/E N/E N/E N/E N/E
                         
$ 0.10 N/A N/A N/A $ 0.10 N/A N/A N/A $ 0.10 N/A N/A N/A N/A N/A N/A N/A $ 0.00 N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A $ 0.30 N/A $ 0.00 N/A N/A N/A $ 0.70 N/A N/A N/A $ 3.00 N/E N/E N/E N/E N/E N/E N/E N/E
$ 46.10 $ 11.60 $ 11.40 $ 11.40 $ 11.70 $ 8.90 $ 9.60 $ 6.20 $ 6.00 $ 6.00 $ 5.80 $ 5.90 $ 5.60 $ 3.50 $ 3.50 $ 3.40 $ 3.40 N/E N/E N/E N/E N/E N/E N/E N/E
$ 53.10 $ 19.00 $ 13.30 $ 10.60 $ 10.20 $ 9.70 $ 7.50 $ 4.80 $ 4.50 $ 2.80 $ 2.00 $ 3.00 $ 2.10 $ 1.70 $ 0.30 $ 0.20 $ 0.10 N/E N/E N/E N/E N/E N/E N/E N/E
$ 0.30 $ 0.10 $ 0.10 N/A $ 0.10 N/A N/A N/A $ 0.00 N/A N/A N/A $ -0.10 $ -0.30 $ 0.10 N/A $ 0.20 N/E N/E N/E N/E N/E N/E N/E N/E
$ 52.10 N/A N/A N/A $ 52.10 N/A N/A N/A $ 17.70 $ 11.50 $ 13.10 $ 9.90 $ 10.00 $ 0.70 $ 8.60 $ 8.60 $ 5.50 N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A N/A N/A $ 3.50 $ 2.70 $ 7.10 $ 6.30 $ 3.60 $ 5.10 $ 4.40 $ 7.10 $ 2.80 N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A $ 42.50 $ 38.90 N/A $ 10.00 $ 10.50 $ 11.30 $ 10.10 $ 10.80 $ 10.40 N/A N/A N/A N/E N/E N/E N/E N/E N/E N/E N/E
$ 51.10 N/A N/A $ 51.10 N/A N/A N/A $ 43.90 $ 4.20 N/A N/A N/A N/A N/A N/A N/A N/A N/E N/E N/E N/E N/E N/E N/E N/E
$ 46.10 N/A N/A N/A $ 46.10 N/A $ -37.20 $ -38.70 $ -30.90 $ 21.40 $ -25.60 $ -23.20 $ -22.70 $ -24.00 $ -10.80 $ -12.50 $ 6.70 N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A N/A N/A $ 0.00 N/A N/A N/A N/A N/A N/A N/A $ -12.90 N/E N/E N/E N/E N/E N/E N/E N/E
$ -6.30 $ -6.30 N/A N/A N/A $ -2.20 N/A $ -2.60 $ -3.10 N/A $ -2.90 $ -14.50 $ -17.00 $ -21.30 $ -14.40 N/A $ -14.00 N/E N/E N/E N/E N/E N/E N/E N/E
$ 556.70 $ 187.00 $ 155.20 $ 95.80 $ 118.70 $ 92.20 $ 82.70 $ 86.60 $ 84.30 $ 70.90 $ 77.10 $ 65.50 $ 65.50 $ 57.10 $ 37.00 $ 48.40 $ 17.00 N/E N/E N/E N/E N/E N/E N/E N/E
                         
$ 171.80 $ 18.90 $ 132.00 $ 10.60 $ 10.30 $ 9.70 $ 7.50 $ 4.80 $ 4.50 $ 1.80 $ 1.00 $ 2.10 $ 1.80 $ 1.70 $ 0.30 $ 0.10 $ 0.60 N/E N/E N/E N/E N/E N/E N/E N/E
$ 24.80 $ 4.80 $ 5.70 $ 7.70 $ 6.60 $ 6.10 $ 10.40 $ 5.20 $ 6.20 $ 7.00 $ 6.70 $ 2.70 $ 4.60 $ 0.70 $ 0.30 $ 0.50 $ 0.36 N/E N/E N/E N/E N/E N/E N/E N/E
$ 6.00 $ -0.80 $ 1.30 $ -1.80 $ 7.30 $ -4.40 N/A $ -7.50 $ 7.90 $ -0.80 $ -0.10 $ 1.10 $ 4.10 $ -8.30 $ 0.20 $ 3.00 $ 0.50 N/E N/E N/E N/E N/E N/E N/E N/E
$ 3.00 $ 1.10 N/A $ 4.40 $ -2.50 $ -3.10 $ -4.10 $ -6.50 $ 1.20 $ -1.10 $ -0.40 $ -0.10 $ -8.40 N/A N/A N/A N/A N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $ -4.50 N/A N/A N/A N/A N/E N/E N/E N/E N/E N/E N/E N/E
$ 477.20 $ 163.50 $ 136.60 $ 80.10 $ 97.00 $ 83.90 $ 88.70 $ 90.50 $ 82.70 $ 61.10 $ 69.90 $ 59.70 $ 67.90 $ 46.40 $ 36.60 $ 30.90 $ 16.50 N/E N/E N/E N/E N/E N/E N/E N/E
$ 379.60 $ 113.40 $ 105.70 $ 83.10 $ 77.40 $ 68.20 $ 63.60 $ 58.60 $ 53.90 $ 49.00 $ 41.70 $ 35.30 $ 30.30 $ 27.70 $ 24.10 $ 14.40 $ 14.40 N/E N/E N/E N/E N/E N/E N/E N/E
$ 97.80 $ 31.70 $ 27.80 $ 20.60 $ 17.70 $ 14.30 $ 12.00 $ 9.50 $ 7.10 $ 4.70 $ 2.90 $ 1.90 $ 1.00 $ 0.60 $ 0.50 $ 0.30 $ 0.00 N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A $ 0.00 $ 18.70 $ 17.70 $ 16.90 $ 15.90 $ 14.80 $ 13.80 $ 12.90 $ 11.70 $ 7.10 $ 0.00 N/E N/E N/E N/E N/E N/E N/E N/E
$ 222.10 $ 81.70 $ 77.90 $ 62.50 N/A $ 53.90 $ 51.40 $ 30.40 $ 29.10 $ 27.40 $ 22.90 $ 13.90 $ 15.50 $ 14.20 $ 11.70 $ 7.10 $ 14.40 N/E N/E N/E N/E N/E N/E N/E N/E
1.26 x 1.44 x 1.29 x 0.97 x 1.25 x 1.23 x 1.40 x 1.54 x 1.53 x 1.25 x 1.68 x 1.68 x 2.24 x 1.64 x 1.52 x 2.14 x 1.15 x N/E N/E N/E N/E N/E N/E N/E N/E
Net Income
Plus:
Asset Sale
Allowance oil reduction to net realizable value
Depreciation and Amortization
Interest Expense
Income Tax Expense
Cash Distribution from equity investments - Mars
Cash Distribution from equity investments - Bengal
Cash Distribution from equity investments - Poseidon
Cash Distribution from equity investments - Odyssey
Income from equity investments
Pre IPO
Non controlling interests
Adjusted EBITDA
Less:
Net interest paid
Maintenance CAPEX
Deficiency Payment
Reimbursements from Parent incl. in Partners' Capital
Waiver Payment
Distributable Cash Flow
Actual Distributions
GP Distributions
Subordinated Distributions
Unit Holder Distributions
Distribution Coverage
 

Incentive Distribution Rights

General Partner Shell Pipeline Corporation Min Qrtrly Dist Latest Qrtrly Dist $ 0.38
Low High LP Unitholders GP Units / IDRs

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