Enterprise Products Partners LP (EPD) financial statements: income statement, balance sheet and cash flow

Enterprise Products Partners LP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Enterprise Products Partners LP reported revenue of $52.6B (-6.4% year on year) and net income of $5.9B (-1.6% year on year).

Income statement

Enterprise Products Partners LP income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenues	$52.6B	$56.2B	$49.7B	$58.2B
Total operating costs and expenses	$45.4B	$49.0B	$43.0B	$51.5B
Total general and administrative costs	$251.0M	$244.0M	$231.0M	$241.0M
Total costs and expenses	$45.7B	$49.3B	$43.2B	$51.7B
Equity in income of unconsolidated affiliates	$361.0M	$408.0M	$462.0M	$464.0M
Operating income	$7.3B	$7.3B	$6.9B	$6.9B
Interest expense	($1.4B)	($1.4B)	($1.3B)	($1.2B)
Interest income	$30.0M	$47.0M	$27.0M	$11.0M
Other, net	$4.0M	$2.0M	$14.0M	$23.0M
Total other expense, net	($1.4B)	($1.3B)	($1.2B)	($1.2B)
Income before income taxes	$5.9B	$6.0B	$5.7B	$5.7B
Provision for income taxes (see Note 16)	($23.0M)	($65.0M)	($44.0M)	($82.0M)
Net income	$5.9B	$6.0B	$5.7B	$5.6B
Net income attributable to noncontrolling interests (see Note 8)	($62.0M)	($69.0M)	($125.0M)	($125.0M)
Net income attributable to preferred units (see Note 8)	($4.0M)	($4.0M)	($3.0M)	($3.0M)
Net income attributable to common unitholders	$5.8B	$5.9B	$5.5B	$5.5B
Basic earnings per common unit (in dollars per unit)	$2.66	$2.69	$2.52	$2.5
Diluted earnings per common unit (in dollars per unit)	$2.66	$2.69	$2.52	$2.5

Enterprise Products Partners LP income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenues	$18.3B	$14.4B	$12.0B	$11.4B
Operating costs and expenses	$16.1B	$12.5B	$10.4B	$9.6B
General and administrative costs	$64.0M	$64.0M	$61.0M	$68.0M
Total costs and expenses	$16.1B	$12.6B	$10.4B	$9.7B
Equity in income of unconsolidated affiliates	$109.0M	$76.0M	$90.0M	$92.0M
Operating income	$2.2B	$1.9B	$1.7B	$1.8B
Interest expense	($384.0M)	($385.0M)	($354.0M)	($332.0M)
Interest income	$4.0M	$7.0M	$9.0M	$6.0M
Other, net	($1.0M)	$1.0M	$2.0M	$1.0M
Total other expense, net	($381.0M)	($377.0M)	($343.0M)	($325.0M)
Income before income taxes	$1.9B	$1.5B	$1.3B	$1.5B
Provision for income taxes (see Note 15)	($12.0M)	($22.0M)	$13.0M	($16.0M)
Net income	$1.9B	$1.5B	$1.4B	$1.5B
Net income attributable to noncontrolling interests	($15.0M)	($13.0M)	($17.0M)	($18.0M)
Net income attributable to preferred units	($1.0M)	($1.0M)	($1.0M)	($1.0M)
Net income attributable to common unitholders	$1.8B	$1.5B	$1.3B	$1.4B
Basic earnings per common unit (in dollars per unit)	$0.84	$0.68	$0.61	$0.66
Diluted earnings per common unit (in dollars per unit)	$0.84	$0.68	$0.61	$0.66

Balance sheet

Enterprise Products Partners LP balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$969.0M	$583.0M	$180.0M	$76.0M
Restricted cash	$276.0M	$255.0M	$140.0M	$130.0M
Accounts receivable, net	$6.5B	$9.2B	$7.8B	$7.0B
Inventories (see Note 3)	$3.9B	$4.0B	$3.4B	$2.6B
Derivative assets (see Note 14)	$434.0M	$534.0M	$347.0M	$469.0M
Prepaid and other current assets	$1.3B	$566.0M	$457.0M	$394.0M
Total current assets	$13.4B	$15.1B	$12.2B	$10.6B
Property, plant and equipment, net (see Note 4)	$51.4B	$49.1B	$45.8B	$44.4B
Investments in unconsolidated affiliates (see Note 5)	$2.2B	$2.3B	$2.3B	$2.4B
Intangible assets, net (see Note 6)	$4.2B	$4.0B	$3.8B	$4.0B
Goodwill (see Note 6)	$5.7B	$5.7B	$5.6B	$5.6B
Other assets	$1.1B	$997.0M	$1.2B	$1.2B
Total assets	$77.9B	$77.2B	$71.0B	$68.1B
Current maturities of debt (see Note 7)	$1.6B	$1.1B	$1.3B	$1.7B
Accounts payable	$1.2B	$1.4B	$1.4B	$743.0M
Accrued product payables	$8.2B	$10.8B	$8.9B	$8.0B
Accrued interest	$566.0M	$536.0M	$455.0M	$426.0M
Derivative liabilities (see Note 14)	$347.0M	$471.0M	$396.0M	$354.0M
Other current liabilities	$873.0M	$818.0M	$675.0M	$778.0M
Total current liabilities	$12.8B	$15.2B	$13.1B	$12.3B
Long-term debt (see Note 7)	$32.8B	$30.7B	$27.4B	$26.6B
Deferred tax liabilities (see Note 16)	$702.0M	$656.0M	$611.0M	$600.0M
Other long-term liabilities	$984.0M	$950.0M	$984.0M	$941.0M
Series A cumulative convertible preferred units (“preferred units”) (45,412 units outstanding at December 31, 2025 and 50,687 units outstanding at December 31, 2024	$44.0M	$50.0M	$49.0M	$49.0M
Common limited partner interests (2,161,760,683 units issued and outstanding at December 31, 2025, 2,165,699,962 units issued and outstanding at December 31, 2024	$30.7B	$29.8B	$28.7B	$27.6B
Treasury units, at cost	($1.3B)	($1.3B)	($1.3B)	($1.3B)
Accumulated other comprehensive income	$336.0M	$236.0M	$307.0M	$365.0M
Total partners’ equity	$29.7B	$28.7B	$27.7B	$26.6B
Noncontrolling interests in consolidated subsidiaries	$831.0M	$857.0M	$1.1B	$1.1B
Total equity	$30.6B	$29.6B	$28.8B	$27.7B
Total liabilities, preferred units, and equity	$77.9B	$77.2B	$71.0B	$68.1B

Enterprise Products Partners LP balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$246.0M	$191.0M	$206.0M	$870.0M
Restricted cash	$99.0M	$203.0M	$226.0M	$226.0M
Accounts receivable, net	$9.4B	$8.3B	$7.5B	$7.6B
Inventories (see Note 3)	$4.7B	$5.2B	$4.2B	$4.0B
Derivative assets (see Note 13)	$659.0M	$991.0M	$452.0M	$689.0M
Prepaid and other current assets	$832.0M	$713.0M	$677.0M	$844.0M
Total current assets	$15.9B	$15.7B	$13.2B	$14.2B
Property, plant and equipment, net (see Note 4)	$52.2B	$51.7B	$51.5B	$50.5B
Investments in unconsolidated affiliates (see Note 5)	$2.2B	$2.2B	$2.2B	$2.2B
Intangible assets, net (see Note 6)	$4.1B	$4.1B	$4.2B	$3.9B
Goodwill (see Note 6)	$5.7B	$5.7B	$5.7B	$5.7B
Operating lease right-of-use assets, net (see Note 16)	$758.0M	—	—	—
Other assets	$944.0M	$1.2B	$954.0M	$952.0M
Total assets	$81.8B	$80.6B	$77.8B	$77.4B
Current maturities of debt (see Note 7)	$2.0B	$2.7B	$2.5B	$1.6B
Accounts payable	$1.5B	$1.4B	$1.5B	$1.5B
Accrued product payables	$11.7B	$11.2B	$9.5B	$9.7B
Accrued interest	$552.0M	$288.0M	$288.0M	$520.0M
Derivative liabilities (see Note 13)	$642.0M	$992.0M	$398.0M	$627.0M
Current operating lease liabilities (see Note 16)	$90.0M	—	—	—
Other current liabilities	$679.0M	$642.0M	$848.0M	$812.0M
Total current liabilities	$17.2B	$17.2B	$15.1B	$14.8B
Long-term debt (see Note 7)	$31.2B	$31.2B	$31.1B	$31.1B
Deferred tax liabilities (see Note 15)	$720.0M	$716.0M	$655.0M	$672.0M
Long-term operating lease liabilities (see Note 16)	$701.0M	—	—	—
Other long-term liabilities	$872.0M	$1.0B	$903.0M	$934.0M
Series A cumulative convertible preferred units (“preferred units”) (45,412 units outstanding at June 30, 2026 and December 31, 2025	$44.0M	$44.0M	$50.0M	$50.0M
Common limited partner interests (2,159,477,169 units issued and outstanding at June 30, 2026, 2,161,760,683 units issued and outstanding at December 31, 2025	$31.4B	$30.8B	$30.2B	$30.1B
Treasury units, at cost	($1.3B)	($1.3B)	($1.3B)	($1.3B)
Accumulated other comprehensive income	$174.0M	($15.0M)	$264.0M	$236.0M
Total partners’ equity	$30.2B	$29.5B	$29.2B	$29.1B
Noncontrolling interests in consolidated subsidiaries	$816.0M	$821.0M	$841.0M	$853.0M
Total equity	$31.1B	$30.3B	$30.1B	$29.9B
Total liabilities, preferred units, and equity	$81.8B	$80.6B	$77.8B	$77.4B

Cash flow statement

Enterprise Products Partners LP cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$5.9B	$6.0B	$5.7B	$5.6B
Depreciation and accretion	$2.1B	$2.0B	$1.9B	$1.8B
Amortization of intangible assets	$216.0M	$207.0M	$201.0M	$177.0M
Amortization of major maintenance costs for reaction-based plants	$72.0M	$59.0M	$64.0M	$51.0M
Other amortization expense	$228.0M	$220.0M	$207.0M	$220.0M
Impairment of assets other than goodwill (see Notes 2 and 4)	$50.0M	$57.0M	$32.0M	$53.0M
Equity in income of unconsolidated affiliates	($361.0M)	($408.0M)	($462.0M)	($464.0M)
Distributions received from unconsolidated affiliates attributable to earnings	$364.0M	$406.0M	$446.0M	$446.0M
Net losses (gains) attributable to asset sales and related matters	($14.0M)	$2.0M	($10.0M)	$1.0M
Deferred income tax expense	$46.0M	$45.0M	$12.0M	$60.0M
Change in fair market value of derivative instruments	$16.0M	($20.0M)	$33.0M	$78.0M
Non-cash expense related to long-term operating leases (see Note 17)	$109.0M	$95.0M	$72.0M	$59.0M
Net effect of changes in operating accounts (see Note 19)	($124.0M)	($506.0M)	($555.0M)	($54.0M)
Other operating activities	$0	$1.0M	$1.0M	$0
Net cash flow provided by operating activities	$8.6B	$8.1B	$7.6B	$8.0B
Capital expenditures	($5.6B)	($4.5B)	($3.3B)	($2.0B)
Cash used for business combinations, net of cash received (see Note 12)	$0	($949.0M)	$0	($3.2B)
Investments in unconsolidated affiliates	($2.0M)	$0	($2.0M)	($1.0M)
Distributions received from unconsolidated affiliates attributable to the return of capital	$74.0M	$77.0M	$42.0M	$98.0M
Proceeds from asset sales and other matters	$82.0M	$14.0M	$42.0M	$122.0M
Other investing activities	($25.0M)	($31.0M)	($13.0M)	($5.0M)
Net cash flow used in investing activities	($5.5B)	($5.4B)	($3.2B)	($5.0B)
Borrowings under debt agreements	$88.3B	$53.7B	$89.9B	$96.1B
Repayments of debt	($85.8B)	($50.5B)	($89.4B)	($97.4B)
Debt issuance costs	($42.0M)	($44.0M)	($17.0M)	($1.0M)
Monetization of interest rate derivative instruments (see Note 14)	$14.0M	($33.0M)	$21.0M	$0
Cash distributions paid to common unitholders (see Note 8)	($4.7B)	($4.5B)	($4.3B)	($4.1B)
Cash payments made in connection with distribution equivalent rights	($44.0M)	($43.0M)	($38.0M)	($34.0M)
Cash distributions paid to noncontrolling interests (see Note 8)	($93.0M)	($106.0M)	($160.0M)	($163.0M)
Cash contributions from noncontrolling interests (see Note 8)	$5.0M	$90.0M	$44.0M	$7.0M
Repurchase of common units under 2019 Buyback Program (see Note 8)	($300.0M)	($219.0M)	($188.0M)	($250.0M)
Acquisition of noncontrolling interests	$0	($400.0M)	—	—
Other financing activities	($59.0M)	($66.0M)	($71.0M)	($53.0M)
Net cash flow used in financing activities	($2.7B)	($2.2B)	($4.3B)	($5.8B)
Net change in cash and cash equivalents, including restricted cash	$407.0M	$518.0M	$114.0M	($2.8B)
Cash and cash equivalents, including restricted cash, January 1	$838.0M	$320.0M	$206.0M	$3.0B
Cash and cash equivalents, including restricted cash, December 31	$1.2B	—	—	—

Enterprise Products Partners LP cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$3.4B	$1.5B	$4.2B	$2.9B
Depreciation and accretion	$1.1B	$555.0M	$1.6B	$1.0B
Amortization of intangible assets	$117.0M	$58.0M	$159.0M	$104.0M
Amortization of major maintenance costs for reaction-based plants	$57.0M	$25.0M	$49.0M	$31.0M
Amortization of finance lease right-of-use assets	$3.0M	—	—	—
Other amortization expense	$126.0M	$63.0M	$170.0M	$114.0M
Impairment of assets other than goodwill	$17.0M	$8.0M	$38.0M	$21.0M
Equity in income of unconsolidated affiliates	($185.0M)	($76.0M)	($276.0M)	($186.0M)
Distributions received from unconsolidated affiliates attributable to earnings	$183.0M	$75.0M	$280.0M	$189.0M
Net gains attributable to asset sales and related matters	($1.0M)	$1.0M	($13.0M)	($9.0M)
Deferred income tax expense	$19.0M	$14.0M	($1.0M)	$16.0M
Change in fair market value of derivative instruments	($31.0M)	$98.0M	$24.0M	($10.0M)
Non-cash expense related to long-term operating leases (see Note 16)	$52.0M	$28.0M	$82.0M	$55.0M
Net effect of changes in operating accounts (see Note 17)	($195.0M)	($861.0M)	($169.0M)	$153.0M
Other operating activities	$13.0M	($15.0M)	($7.0M)	$7.0M
Net cash flow provided by operating activities	$4.7B	$1.5B	$6.1B	$4.4B
Capital expenditures	($2.1B)	($983.0M)	($4.3B)	($2.4B)
Investments in unconsolidated affiliates	$0	—	($1.0M)	($1.0M)
Distributions received from unconsolidated affiliates attributable to the return of capital	$23.0M	$11.0M	$56.0M	$35.0M
Proceeds from asset sales and other matters	$599.0M	$596.0M	$21.0M	$15.0M
Other investing activities	($16.0M)	($5.0M)	($13.0M)	($9.0M)
Net cash flow used in investing activities	($1.5B)	($381.0M)	($4.3B)	($2.3B)
Borrowings under debt agreements	$54.2B	$22.5B	$71.0B	$49.6B
Repayments of debt	($55.4B)	($23.0B)	($69.3B)	($48.7B)
Debt issuance costs	($4.0M)	($4.0M)	($29.0M)	($25.0M)
Monetization of interest rate derivative instruments	$0	—	$14.0M	$14.0M
Cash distributions paid to common unitholders (see Note 8)	($2.4B)	($1.2B)	($3.5B)	($2.3B)
Cash payments made in connection with distribution equivalent rights	($23.0M)	($11.0M)	($33.0M)	($22.0M)
Cash distributions paid to noncontrolling interests	($44.0M)	($23.0M)	($68.0M)	($39.0M)
Cash contributions from noncontrolling interests	$1.0M	$0	$5.0M	$5.0M
Repurchase of common units under 2019 Buyback Program	($275.0M)	($116.0M)	($250.0M)	($170.0M)
Other financing activities	($116.0M)	($111.0M)	($88.0M)	($85.0M)
Net cash flow used in financing activities	($4.0B)	($1.9B)	($2.3B)	($1.8B)
Net change in cash and cash equivalents, including restricted cash	($900.0M)	($851.0M)	($406.0M)	$258.0M
Cash and cash equivalents, including restricted cash, at beginning of period	$1.2B	$1.2B	$838.0M	$838.0M
Cash and cash equivalents, including restricted cash, at end of period	$345.0M	$394.0M	$432.0M	$1.1B

Enterprise Products Partners LP score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.