Business Context and Reporting Period
This Form 8-K/A is an amendment filed by Energy Transfer Equity, L.P. ("ETE") on March 28, 2012, to supplement an original report regarding the acquisition of Southern Union Company. Southern Union will operate as a wholly-owned subsidiary of ETE. The filing provides unaudited pro forma condensed consolidated financial information as of December 31, 2011, and for the year ended December 31, 2011.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it references the inclusion of the following documents as exhibits containing the detailed data:
- Unaudited pro forma condensed consolidated balance sheet as of December 31, 2011.
- Unaudited pro forma condensed consolidated statement of operations for the year ended December 31, 2011.
- Southern Union Company and Subsidiaries Consolidated Financial Statements for the years ended December 31, 2011, 2010, and 2009.
Material Changes
The primary material change reported is the acquisition of Southern Union Company. This amendment specifically adds the financial statements of Southern Union and the unaudited pro forma financial information to reflect the combined entity's financial position as if the acquisition had occurred at the beginning of the reporting period.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, forward-looking guidance, specific risk factors, or details on contingencies. The document serves strictly to disclose the pro forma financial data required under Article 11 of Regulation S-X following the acquisition.
Investor Verification Checklist
- Review Exhibit 99.1 for the unaudited pro forma condensed consolidated financial statements to assess the combined entity's financial health.
- Examine Exhibit 99.2 for Southern Union's historical consolidated financial statements for 2009, 2010, and 2011.
- Verify the assumptions used in the pro forma adjustments to understand the impact of the acquisition on ETE's capital structure and earnings.
- Confirm the integration status of Southern Union as a wholly-owned subsidiary.