ENERGY TRANSFER LP (ET) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-30

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ENERGY TRANSFER LP cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $4,506,000,000.00Depreciation, depletion and amortization → Operating adjustments reconciliation: $3,158,000,000.00Net change in operating assets and liabilities, net of effects of acquisitions → Operating adjustments reconciliation: $228,000,000.00Deferred income tax expense → Operating adjustments reconciliation: $167,000,000.00Distributions from unconsolidated affiliates → Operating adjustments reconciliation: $125,000,000.00Non-cash compensation expense → Operating adjustments reconciliation: $88,000,000.00Other non-cash → Operating adjustments reconciliation: $40,000,000.00Losses on extinguishments of debt → Operating adjustments reconciliation: $7,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $3,143,000,000.00Operating adjustments reconciliation → Inventory valuation adjustments: $426,000,000.00Operating adjustments reconciliation → Equity in earnings of unconsolidated affiliates: $218,000,000.00Operating adjustments reconciliation → Distributions on unvested awards: $26,000,000.00Distributions from unconsolidated affiliates in excess of cumulative earnings → investing reconciliation: $79,000,000.00Other, net → investing reconciliation: $46,000,000.00Contributions in aid of construction costs → investing reconciliation: $29,000,000.00Proceeds from Sale of Other Assets, Investing Activities → investing reconciliation: $8,000,000.00investing reconciliation → Capital expenditures, excluding allowance for equity funds used during construction: $3,480,000,000.00investing reconciliation → Cash paid for acquisition, net of cash received - JW Power: $445,000,000.00investing reconciliation → Cash paid for acquisition, net of cash received - TanQuid: $194,000,000.00investing reconciliation → Cash paid for acquisition, net of cash received - Delta Acquisition: $75,000,000.00investing reconciliation → Cash paid for acquisition, net of cash received - Other acquisitions: $72,000,000.00investing reconciliation → Contributions to unconsolidated affiliates: $30,000,000.00Net cash used in financing activities → financing reconciliation: $3,767,000,000.00Proceeds from borrowings → financing reconciliation: $24,053,000,000.00Capital contributions from redeemable noncontrolling interests → financing reconciliation: $6,000,000.00Capital contributions from noncontrolling interests → financing reconciliation: $1,000,000.00financing reconciliation → Repayments of debt: $24,284,000,000.00financing reconciliation → Distributions to partners: $2,409,000,000.00financing reconciliation → Distributions to noncontrolling interests: $1,068,000,000.00financing reconciliation → Debt issuance costs: $49,000,000.00financing reconciliation → Distributions to redeemable noncontrolling interests: $17,000,000.00Net cash used in investing activities → investing reconciliation: $4,134,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,272,000,000.00Net cash from operating activities → Cash sources and uses: $7,649,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,020,000,000.00Cash sources and uses → Net cash used in investing activities: $4,134,000,000.00Cash sources and uses → Net cash used in financing activities: $3,767,000,000.00Equity in earnings of unconsolidated affiliates: -$218,000,000.00Equity-method results−$218.00 MDistributions on unvested awards: -$26,000,000.00Distributions on unvested awards−$26.00 MNon-cash compensation expense: $88,000,000.00Stock-based compensation+$88.00 MDistributions from unconsolidated affiliates: $125,000,000.00Equity-method distributions+$125.00 MLosses on extinguishments of debt: $7,000,000.00Debt extinguishment gain & loss+$7.00 MNet income: $4,506,000,000.00Net income+$4.51 BImpairment losses: $0.00Deferred income tax expense: $167,000,000.00Deferred income taxes+$167.00 MNet change in operating assets and liabilities, net of effects of acquisitions: $228,000,000.00Operating capital changes+$228.00 MDepreciation, depletion and amortization: $3,158,000,000.00Depreciation & amortization+$3.16 BInventory valuation adjustments: -$426,000,000.00Inventory reserve provision−$426.00 MOther non-cash: $40,000,000.00Other non-cash items+$40.00 MNet cash from operating activities: $7,649,000,000.00Operating cash+$7.65 BOperating adjustments reconciliation: $3,813,000,000.00Proceeds from borrowings: $24,053,000,000.00Long-term debt issued+$24.05 BRepayments of debt: -$24,284,000,000.00Long-term debt repaid−$24.28 BPayments for Repurchase of Redeemable Preferred Stock: $0.00Capital contributions from noncontrolling interests: $1,000,000.00Contributions from affiliates+$1.00 MCapital contributions from redeemable noncontrolling interests: $6,000,000.00Noncontrolling interests, net+$6.00 MDistributions to partners: -$2,409,000,000.00Distributions to unitholders−$2.41 BDistributions to noncontrolling interests: -$1,068,000,000.00Noncontrolling dividends−$1.07 BDistributions to redeemable noncontrolling interests: -$17,000,000.00Preferred dividends paid−$17.00 MDebt issuance costs: -$49,000,000.00Debt issuance costs−$49.00 MNet cash used in financing activities: -$3,767,000,000.00. Cash required to fund net payments.Financing cash−$3.77 Bfinancing reconciliation: $27,827,000,000.00Cash paid for acquisition, net of cash received - Delta Acquisition: -$75,000,000.00Acquisitions: Delta−$75.00 MCash paid for acquisition, net of cash received - JW Power: -$445,000,000.00Acquisitions: JW Power−$445.00 MCash paid for acquisition, net of cash received - Other acquisitions: -$72,000,000.00Acquisitions: other−$72.00 MCash paid for acquisition, net of cash received - TanQuid: -$194,000,000.00Acquisitions: TanQuid−$194.00 MCapital expenditures, excluding allowance for equity funds used during construction: -$3,480,000,000.00Capital expenditures−$3.48 BContributions in aid of construction costs: $29,000,000.00Construction aid received+$29.00 MContributions to unconsolidated affiliates: -$30,000,000.00Advances to affiliates−$30.00 MDistributions from unconsolidated affiliates in excess of cumulative earnings: $79,000,000.00Equity-method return of capital+$79.00 MProceeds from Sale of Other Assets, Investing Activities: $8,000,000.00Other asset sales+$8.00 MOther, net: $46,000,000.00Other investing, net+$46.00 MNet cash used in investing activities: -$4,134,000,000.00. Cash required to fund net payments.Investing cash−$4.13 Binvesting reconciliation: $4,296,000,000.00Cash sources and uses: $8,921,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,272,000,000.00Beginning cash$1.27 BEnding cash: Cash, cash equivalents, and restricted cash: $1,020,000,000.00Ending cash$1.02 BCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$4.17 BOperating cash − cash spent on productive assetsCash flow / Net income1.70×Operating cash flow ÷ net incomeNet cash change−$252.00 MEnding cash − beginning cash
Chart details

ENERGY TRANSFER LP cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
1,272,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
7,649,000,000 US dollars. Net cash provided.
Equity in earnings of unconsolidated affiliates
negative 218,000,000 US dollars
Distributions on unvested awards
negative 26,000,000 US dollars
Non-cash compensation expense
88,000,000 US dollars
Distributions from unconsolidated affiliates
125,000,000 US dollars
Losses on extinguishments of debt
7,000,000 US dollars
Net income
4,506,000,000 US dollars
Impairment losses
0 US dollars
Deferred income tax expense
167,000,000 US dollars
Net change in operating assets and liabilities, net of effects of acquisitions
228,000,000 US dollars
Depreciation, depletion and amortization
3,158,000,000 US dollars
Inventory valuation adjustments
negative 426,000,000 US dollars
Other non-cash
40,000,000 US dollars
Investing activities
negative 4,134,000,000 US dollars. Net cash used.
Cash paid for acquisition, net of cash received - Delta Acquisition
negative 75,000,000 US dollars
Cash paid for acquisition, net of cash received - JW Power
negative 445,000,000 US dollars
Cash paid for acquisition, net of cash received - Other acquisitions
negative 72,000,000 US dollars
Cash paid for acquisition, net of cash received - TanQuid
negative 194,000,000 US dollars
Capital expenditures, excluding allowance for equity funds used during construction
negative 3,480,000,000 US dollars
Contributions in aid of construction costs
29,000,000 US dollars
Contributions to unconsolidated affiliates
negative 30,000,000 US dollars
Distributions from unconsolidated affiliates in excess of cumulative earnings
79,000,000 US dollars
Proceeds from Sale of Other Assets, Investing Activities
8,000,000 US dollars
Other, net
46,000,000 US dollars
Financing activities
negative 3,767,000,000 US dollars. Net cash used.
Proceeds from borrowings
24,053,000,000 US dollars
Repayments of debt
negative 24,284,000,000 US dollars
Payments for Repurchase of Redeemable Preferred Stock
0 US dollars
Capital contributions from noncontrolling interests
1,000,000 US dollars
Capital contributions from redeemable noncontrolling interests
6,000,000 US dollars
Distributions to partners
negative 2,409,000,000 US dollars
Distributions to noncontrolling interests
negative 1,068,000,000 US dollars
Distributions to redeemable noncontrolling interests
negative 17,000,000 US dollars
Debt issuance costs
negative 49,000,000 US dollars
Operating adjustment reconciliation
3,813,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
27,827,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
4,296,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Jun 30, 2026
1,020,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
8,921,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 252,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.70×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
7,649,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
cash spent on productive assets
3,480,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
4,169,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $3.14B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash spent on productive assets equals free cash flow: 7,649,000,000 US dollars minus 3,480,000,000 US dollars equals 4,169,000,000 US dollars.
ENERGY TRANSFER LP (ET) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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