Enterprise Products Partners (EPD) 8-K Results of Operations and Financial Condition

EXHIBIT 99.1

TEPPCO Partners, L.P.										Exhibit A
Financial Highlights – UNAUDITED
($ in millions, except per unit amounts)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2009			2008			2009			2008
Operating Revenues:
Sales of petroleum products	$	2,029.9		$	4,025.6		$	5,053.2		$	10,676.8
Transportation – Refined Products		42.6			42.2			119.6			123.6
Transportation – LPGs		16.6			16.3			72.4			68.6
Transportation – Crude Oil		15.9			15.8			53.0			48.5
Transportation – NGLs		14.6			12.6			40.7			38.2
Transportation – Marine		45.8			46.0			126.4			119.6
Gathering – Natural Gas		12.6			14.6			40.6			42.8
Other		27.3			32.6			70.2			76.6
Total operating revenues		2,205.3			4,205.7			5,576.1			11,194.7
Costs and expenses:
Purchases of petroleum products		1,993.1			3,989.5			4,931.9			10,571.8
Operating expenses		172.0			80.8			315.2			201.2
Operating fuel and power		17.1			25.9			54.7			76.4
General and administrative costs		15.1			10.8			40.9			30.6
Depreciation and amortization		35.7			32.1			105.5			92.2
Taxes – other than income taxes		4.4			6.7			18.4			19.8
Total costs and expenses		2,237.4			4,145.8			5,466.6			10,992.0
Operating income		(32.1	)		59.9			109.5			202.7
Interest expense		(33.0	)		(34.3	)		(97.4	)		(105.9	)
Equity in earnings of unconsolidated affiliates		23.9			22.1			36.8			63.2
Other, net		0.2			0.4			1.2			1.8
Income (loss) before provision for income taxes		(41.0	)		48.1			50.1			161.8
Provision for income taxes		(1.1	)		(1.1	)		(2.8	)		(2.9	)
Net income (loss)	$	(42.1	)	$	47.0		$	47.3		$	158.9
Net Income (Loss) Allocated to:
Limited Partners	$	(35.0	)	$	39.0		$	39.3		$	132.1
General Partner		(7.1	)		8.0			8.0			26.8
Total Net Income (Loss) Allocated	$	(42.1	)	$	47.0		$	47.3		$	158.9
Basic and Diluted Net Income (Loss) Per Limited Partner Unit	$	(0.33	)	$	0.40		$	0.37		$	1.39
Weighted Average Number of Limited Partner Units		104.9			97.3			104.8			95.1
Adjusted EBITDA
Net income (loss)	$	(42.1	)	$	47.0		$	47.3		$	158.9
Provision for income taxes		1.1			1.1			2.8			2.9
Noncash impairment charge		22.3			--			24.6			--
Interest expense		33.0			34.3			97.4			105.9
Depreciation and amortization (D&A)		35.7			32.1			105.5			92.2
Loss on forfeiture of investment in Texas Offshore Port System		--			--			34.2			--
Amortization of excess investment in joint ventures		1.0			1.3			3.7			3.8
TEPPCO’s pro-rata percentage of joint venture
interest expense, D&A and impairment		14.5			13.3			43.0			38.6
Adjusted EBITDA	$	65.5		$	129.1		$	358.5		$	402.3

TEPPCO Partners, L.P.													Exhibit B
Business Segment Data – UNAUDITED
Three Months Ended September 30, 2009
($ in millions)
									Marine		Intersegment
	Downstream			Midstream		Upstream			Services		Eliminations		Consolidated
Operating revenues	$	93.8		$	31.0	$	2,034.2		$	46.3	$	--	$	2,205.3
Purchases of petroleum products		15.7			--		1,977.4			--		--		1,993.1
Operating expenses		85.4			7.9		52.8			25.9		--		172.0
Operating fuel and power		6.4			3.0		1.6			6.1		--		17.1
General and administrative		6.6			4.2		3.3			1.0		--		15.1
Depreciation and amortization (D&A)		12.1			9.4		7.2			7.0		--		35.7
Taxes – other than income taxes		0.9			0.7		1.8			1.0		--		4.4
Operating income (loss)		(33.3	)		5.8		(9.9	)		5.3		--		(32.1	)
Equity in earnings (losses) of unconsolidated affiliates		(2.7	)		25.4		1.2			--		--		23.9
Other, net		0.1			--		0.1			--		--		0.2
Income (loss) before interest		(35.9	)		31.2		(8.6	)		5.3		--		(8.0	)
Depreciation and amortization		12.1			9.4		7.2			7.0		--		35.7
Noncash impairment charge		20.2			--		--			2.1		--		22.3
Amortization of excess investment in joint ventures		0.8			0.1		0.1			--		--		1.0
TEPPCO’s pro-rata percentage of joint venture interest expense, D&A and impairment		2.5			9.1		2.9			--		--		14.5
Adjusted EBITDA	$	(0.3	)	$	49.8	$	1.6		$	14.4	$	--	$	65.5
Provision for income taxes														(1.1	)
Noncash impairment charge														(22.3	)
Depreciation and amortization														(35.7	)
Interest expense														(33.0	)
Amortization of excess investment in joint ventures														(1.0	)
TEPPCO’s pro-rata percentage of joint venture interest expense,  D&A and impairment														(14.5	)
Net income (loss)													$	(42.1	)
Reconciliation of Equity in earnings (losses) of unconsolidated affiliates to Adjusted JV EBITDA:
Equity in earnings (losses) of unconsolidated affiliates	$	(2.7	)	$	25.4	$	1.2		$	--	$	--	$	23.9
Amortization of excess investment in joint ventures		0.8			0.1		0.1			--		--		1.0
TEPPCO’s pro-rata percentage of joint venture interest expense , D&A, and impairment		2.5			9.1		2.9			--		--		14.5
Adjusted JV EBITDA	$	0.6		$	34.6	$	4.2		$	--	$	--	$	39.4

TEPPCO Partners, L.P.													Exhibit B
Business Segment Data – UNAUDITED													(Continued)
Three Months Ended September 30, 2008
($ in millions)
								Marine		Intersegment
	Downstream			Midstream		Upstream		Services		Eliminations			Consolidated
Operating revenues	$	97.1		$	30.3	$	4,032.4	$	46.0	$	(0.1	)	$	4,205.7
Purchases of petroleum products		12.9			--		3,976.8		--		(0.2	)		3,989.5
Operating expenses		38.2			6.7		17.7		18.2		--			80.8
Operating fuel and power		8.8			4.8		2.1		10.2		--			25.9
General and administrative		4.2			2.2		2.1		2.3		--			10.8
Depreciation and amortization (D&A)		10.7			10.0		5.1		6.3		--			32.1
Taxes – other than income taxes		3.5			0.8		1.7		0.7		--			6.7
Operating income		18.8			5.8		26.9		8.3		0.1			59.9
Equity in earnings (losses) of unconsolidated affiliates		(2.3	)		21.8		2.7		--		(0.1	)		22.1
Other, net		0.2			0.1		0.1		--		--			0.4
Income before interest		16.7			27.7		29.7		8.3		--			82.4
Depreciation and amortization		10.7			10.0		5.1		6..3		--			32.1
Amortization of excess investment in joint ventures		1.1			--		0.2		--		--			1.3
TEPPCO’s pro-rata percentage of joint venture interest expense and D&A		2.5			9.0		1.8		--		--			13.3
Adjusted EBITDA	$	31.0		$	46.7	$	36.8	$	14.6	$	--		$	129.1
Provision for income taxes														(1.1	)
Depreciation and amortization														(32.1	)
Interest expense														(34.3	)
Amortization of excess investment in joint ventures														(1.3	)
TEPPCO’s pro-rata percentage of joint venture interest expense and D&A														(13.3	)
Net income													$	47.0
Reconciliation of Equity in earnings (losses) of unconsolidated affiliates to Adjusted JV EBITDA:
Equity in earnings (losses) of unconsolidated affiliates	$	(2.3	)	$	21.8	$	2.7	$	--	$	(0.1	)	$	22.1
Amortization of excess investment in joint ventures		1.1			--		0.2		--		--			1.3
TEPPCO’s pro-rata percentage of joint venture interest expense and D&A		2.5			9.0		1.8		--		--			13.3
Adjusted JV EBITDA	$	1.3		$	30.8	$	4.7	$	--	$	(0.1	)	$	36.7

TEPPCO Partners, L.P.														Exhibit B
Business Segment Data – UNAUDITED														(Continued)
Nine Months Ended September 30, 2009
($ in millions)
									Marine		Intersegment
	Downstream			Midstream		Upstream			Services		Eliminations			Consolidated
Operating revenues	$	276.2		$	91.1	$	5,082.0		$	126.9	$	(0.1	)	$	5,576.1
Purchases of petroleum Products		34.9			--		4,898.2			--		(1.2	)		4,931.9
Operating expenses		141.0			24.9		84.0			65.3		--			315.2
Operating fuel and power		24.4			8.7		5.5			16.1		--			54.7
General and administrative		16.6			12.0		8.4			3.9		--			40.9
Depreciation and amortization (D&A)		36.9			29.2		19.5			19.9		--			105.5
Taxes – other than income taxes		7.8			2.2		5.5			2.9		--			18.4
Operating income		14.6			14.1		60.9			18.8		1.1			109.5
Equity in earnings (losses) of unconsolidated affiliates		(10.1	)		74.8		(26.8	)		--		(1.1	)		36.8
Other, net		0.6			--		0.6			--		--			1.2
Income before interest		5.1			88.9		34.7			18.8		--			147.5
Depreciation and amortization		36.9			29.2		19.5			19.9		--			105.5
Noncash impairment charge		22.5			--		--			2.1		--			24.6
Loss on forfeiture of investment in Texas Offshore Port System (TOPS)		--			--		34.2			--		--			34.2
Amortization of excess investment in joint ventures		2.9			0.3		0.5			--		--			3.7
TEPPCO’s pro-rata percentage of joint venture interest expense, D&A and impairment		7.6			28.9		6.5			--		--			43.0
Adjusted EBITDA	$	75.0		$	147.3	$	95.4		$	40.8	$	--		$	358.5
Provision for income taxes															(2.8	)
Noncash impairment charge															(24.6	)
Depreciation and amortization															(105.5	)
Interest expense															(97.4	)
Loss on forfeiture of investment in TOPS															(34.2	)
Amortization of excess investment in joint ventures															(3.7	)
TEPPCO’s pro-rata percentage of joint venture interest expense, D&A and impairment															(43.0	)
Net income														$	47.3
Reconciliation of Equity in earnings (losses) of unconsolidated affiliates to Adjusted JV EBITDA:
Equity in earnings (losses) of unconsolidated affiliates	$	(10.1	)	$	74.8	$	(26.8	)	$	--	$	(1.1	)	$	36.8
Loss on forfeiture of investment in TOPS		--			--		34.2			--		--			34.2
Amortization of excess investment in joint ventures		2.9			0.3		0.5			--		--			3.7
TEPPCO’s pro-rata percentage of joint venture interest expense D&A and impairment		7.6			28.9		6.5			--		--			43.0
Adjusted JV EBITDA	$	0.4		$	104.0	$	14.4		$	--	$	(1.1	)	$	117.7

TEPPCO Partners, L.P.													Exhibit B
Business Segment Data – UNAUDITED													(Continued)
Nine Months Ended September 30, 2008
($ in millions)
								Marine		Intersegment
	Downstream			Midstream		Upstream		Services		Eliminations			Consolidated
Operating revenues	$	271.2		$	91.0	$	10,713.0	$	119.6	$	(0.1	)	$	11,194.7
Purchases of petroleum products		21.1			--		10,554.9		--		(4.2	)		10,571.8
Operating expenses		95.6			16.1		43.7		45.8		--			201.2
Operating fuel and power		29.8			13.0		5.7		27.9		--			76.4
General and administrative		12.4			7.5		6.6		4.1		--			30.6
Depreciation and amortization (D&A)		31.5			29.6		14.8		16.3		--			92.2
Taxes – other than income taxes		10.2			2.3		5.4		1.9		--			19.8
Operating income		70.6			22.5		81.9		23.6		4.1			202.7
Equity in earnings (losses) of unconsolidated affiliates		(10.1	)		67.5		9.9		--		(4.1	)		63.2
Other, net		0.7			0.3		0.8		--		--			1.8
Income before interest		61.2			90.3		92.6		23.6		--			267.7
Depreciation and amortization		31.5			29.6		14.8		16.3		--			92.2
Amortization of excess investment in joint ventures		3.2			0.1		0.5		--		--			3.8
TEPPCO’s pro-rata percentage of joint venture interest expense and D&A		7.8			25.5		5.3		--		--			38.6
Adjusted EBITDA	$	103.7		$	145.5	$	113.2	$	39.9	$	--		$	402.3
Provision for income taxes														(2.9	)
Depreciation and amortization														(92.2	)
Interest expense														(105.9	)
Amortization of excess investment in joint ventures														(3.8	)
TEPPCO’s pro-rata percentage of joint venture interest expense and D&A														(38.6	)
Net income													$	158.9
Reconciliation of Equity in earnings (losses) of unconsolidated affiliates to Adjusted JV EBITDA:
Equity in earnings (losses) of unconsolidated affiliates	$	(10.1	)	$	67.5	$	9.9	$	--	$	(4.1	)	$	63.2
Amortization of excess investment in joint ventures		3.2			0.1		0.5		--		--			3.8
TEPPCO’s pro-rata percentage of joint venture interest expense and D&A		7.8			25.5		5.3		--		--			38.6
Adjusted JV EBITDA	$	0.9		$	93.1	$	15.7	$	--	$	(4.1	)	$	105.6

TEPPCO Partners, L.P.	Exhibit C
Condensed Statements of Cash Flows– UNAUDITED
($ in millions)
	Nine Months Ended
	September 30, 2009
	2009			2008
Cash Flows from Operating Activities:
Net income	$	47.3		$	158.9
Equity in earnings (losses) of unconsolidated affiliates		(36.8	)		(63.2	)
Distributions received from unconsolidated affiliates		121.6			119.0
Loss on early extinguishment of debt		--			8.7
Depreciation, working capital and other		153.9			71.6
Net Cash Provided by Operating Activities		286.0			295.0
Cash Flows from Operating Activities:
Cash used for business combinations		(50.0	)		(351.9	)
Cash paid for linefill on assets owned		(0.7	)		(11.5	)
Cash proceeds from asset sales		1.5			--
Acquisition of intangible assets		(1.4	)		(0.3	)
Investment in Jonah Gas Gathering Company		(21.2	)		(94.9	)
Investment in Texas Offshore Port System		1.7			--
Investment in Centennial Pipeline Company		(2.5	)		--
Capital expenditures (1)		(217.2	)		(215.1	)
Net Cash Used in Investing Activities		(289.8	)		(673.7	)
Cash Flows from Operating Activities:
Borrowings under debt agreements		1,144.9			3,848.9
Repayments of debt		(869.9	)		(3,442.7	)
Net proceeds from issuance of limited partner units		3.5			271.3
Acquisition of treasury units		(0.1	)		--
Settlement of interest rate derivative instruments – treasury locks		--			(52.1	)
Debt issuance costs		(0.2	)		(9.8	)
Distributions paid to partners		(274.4	)		(236.8	)
Net Cash Provided by Financing Activities		3.8			378.8
Net Change in Cash and Cash Equivalents		--			0.1
Cash and Cash Equivalents – January 1		--			--
Cash and Cash Equivalents – September 30	$	--		$	0.1
Non-cash investing activities:
Payable to Enterprise Gas Processing, LLC for spending for Phase V expansion
of Jonah Gas Gathering Company	$	--		$	1.3
Liabilities for construction work in progress	$	11.9		$	8.6
Non-cash financing activities:
Issuance of Units in Cenac acquisition	$	--		$	186.6
Supplemental Information:
Interest paid (net of capitalized interest)	$	85.9		$	81.9
(1) Includes capital expenditures for maintaining existing operations of $28.7 million in 2009 and $41.9 million in 2008.

TEPPCO Partners, L.P.	Exhibit D
Condensed Balance Sheets– UNAUDITED
($ in millions)
	September 30,			December 31,
	2009			2008
Assets
Current assets
Cash and cash equivalents	$	--		$	--
Other		1,195.7			907.6
Total current assets		1,195.7			907.6
Property, plant and equipment – net		2,594.0			2,439.9
Intangible assets (1)		188.1			207.7
Investments in unconsolidated affiliates		1,196.2			1,255.9
Goodwill		105.3			106.6
Other assets		118.1			132.1
Total assets	$	5,397.4		$	5,049.8
Liabilities and Partners’ Capital
Total current liabilities	$	1,165.6		$	900.0
Total current liabilities		1,165.6			900.0
Senior Notes (2)		1,709.7			1,713.3
Junior Subordinated Notes		299.6			299.6
Other long-term debt		791.7			516.7
Other non-current liabilities		55.0			28.7
Partners’ capital
Accumulated other comprehensive loss		(41.5	)		(45.8	)
General partner’s interest (3)		(148.9	)		(110.3	)
Limited partners’ interests		1,566.2			1,747.6
Total partners’ capital		1,375.8			1,591.5
Total liabilities and partners’ capital	$	5,397.4		$	5,049.8
(1)Includes the value of long-term service agreements between TEPPCO and its customers. (2)Includes $14.1 and $18.1 million at September 30, 2009 and December 31, 2008, respectively, related to fair value hedges. (3)Amount does not represent a future financial commitment by the General Partner to make a contribution to TEPPCO.

TEPPCO Partners, L.P.										Exhibit E
Operating Data – UNAUDITED
(In Millions, Except as Noted)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2009			2008			2009			2008
Downstream Segment:
Barrels Delivered
Refined Products		38.0			41.2			114.6			121.6
LPGs		6.2			6.7			25.4			26.3
Total		44.2			47.9			140.0			147.9
Average Tariff Per Barrel
Refined Products	$	1.12		$	1.03		$	1.04		$	1.02
LPGs		2.68			2.43			2.86			2.61
Average System Tariff  Per Barrel	$	1.34		$	1.22		$	1.37		$	1.30
Upstream Segment:
Margins/Revenues:
Crude oil transportation revenue	$	21.4		$	25.6			64.4		$	73.1
Crude oil marketing margin		22.2			17.2			80.0			53.1
Crude oil terminaling revenue		6.3			4.7			19.9			13.1
Lubrication Services, LLC (LSI) margin		2.8			4.2			8.6			9.9
Total Margins/Revenues	$	52.7		$	51.7		$	172.9		$	149.2
Reconciliation of Margins/Revenues to Operating Income (Loss):
Sales of petroleum products	$	2,014.2		$	4,012.7		$	5,018.1		$	10,655.6
Transportation – Crude oil		15.9			15.8			53.0			48.5
Purchases of petroleum products		(1,977.4	)		(3,976.8	)		(4,898.2	)		(10,554.9	)
Total Margins/Revenues		52.7			51.7			172.9			149.2
Other operating revenues		4.1			3.9			10.9			8.9
Operating expenses		(52.8	)		(17.7	)		(84.0	)		(43.7	)
Operating fuel and power		(1.6	)		(2.1	)		(5.5	)		(5.7	)
General and administrative		(3.3	)		(2.1	)		(8.4	)		(6.6	)
Depreciation and amortization		(7.2	)		(5.1	)		(19.5	)		(14.8	)
Taxes – other than income taxes		(1.8	)		(1.7	)		(5.5	)		(5.4	)
Operating income (loss)	$	(9.9	)	$	26.9		$	60.9		$	81.9
Total barrels
Crude oil transportation		26.8			26.5			84.5			83.7
Crude oil marketing (1)		45.2			48.4			132.4			135.6
Crude oil terminaling		49.8			41.7			147.4			114.6
Lubrication oil volume (total gallons):		5.5			6.3			15.9			14.1
Margin/average tariff per barrel:
Crude oil transportation	$	0.797		$	0.967		$	0.763		$	0.873
Crude oil terminaling		0.127			0.114			0.135			0.115
Lubrication oil margin (per gallon):	$	0.519		$	0.669		$	0.543		$	0.707
(1)  The 2008 amounts, previously disclosed as 67.1 million and 186.3 million for the three months and nine months ended September 30, 2008, respectively, have been adjusted to exclude inter-region transfers, which are transfers among TEPPCO Crude Oil, LLC’s various geographically managed regions.

TEPPCO Partners, L.P.							Exhibit E
Operating Data – UNAUDITED							(Continued)
(In Millions, Except as Noted)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2009		2008		2009		2008
Midstream Segment:
Gathering – Natural Gas – Jonah
Bcf		194.4		184.1		589.6		524.7
Btu (in trillions)		214.0		202.5		650.1		579.7
Average fee per MMBtu	$	0.244	$	0.228	$	0.239	$	0.231
Gathering – Natural Gas – Val Verde
Bcf		41.4		43.9		130.3		123.7
Btu (in trillions)		37.9		39.4		118.2		110.4
Average fee per MMBtu	$	0.333	$	0.371	$	0.344	$	0.388
Transportation  - NGLs
Total barrels (includes lease barrels)		18.2		17.1		52.7		55.5
Average rate per barrel	$	0.886	$	0.810	$	0.852	$	0.763
Fractionation – NGLs
Total barrels		1.0		1.1		2.8		3.2
Average rate per barrel	$	2.326	$	1.785	$	1.985	$	1.742
Natural Gas Sales
Btu (in trillions)		0.7		1.1		2.3		3.9
Average fee per MMBtu	$	2.71	$	5.88	$	2.85	$	7.06
Sales – Condensate
Total barrels (thousands)		1.7		1.9		47.9		62.3
Average rate per barrel	$	60.37	$	105.56	$	32.68	$	84.07

TEPPCO Partners, L.P.										Exhibit E
Operating Data – UNAUDITED										(Continued)
(In Millions, Except as Noted)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2009			2008			2009			2008
Marine Services Segment:
Number of tow boats (inland / offshore) (1)		65 / 6			45 / 6			65 / 6			45 / 6
Number of tank barges (inland / offshore) (1)		140 / 8			103 / 8			140 / 8			103 / 8
Fleet available days (in thousands) (2)		17.3			14.7			46.8			36.3
Fleet operating days (in thousands) (3)		15.2			13.5			41.2			33.5
Fleet utilization (4)		88	%		92	%		88	%		92	%
Gross margin	$	16.4		$	17.6		$	47.6		$	45.9
Average daily rate (in thousands)	$	1.08		$	1.30		$	1.16		$	1.37
Reconciliation of Marine Gross Margin to Operating Income:
Transportation - Marine	$	46.3		$	46.0		$	126.9		$	119.6
Noncash impairment charge		2.1			--			2.1			--
Operating expense		(25.9	)		(18.2	)		(65.3	)		(45.8	)
Operating fuel and power		(6.1	)		(10.2	)		(16.1	)		(27.9	)
Gross margin		16.4			17.6			47.6			45.9
Noncash impairment charge		(2.1	)		--			(2.1	)		--
General and administrative		(1.0	)		(2.3	)		(3.9	)		(4.1	)
Depreciation and amortization		(7.0	)		(6.3	)		(19.9	)		(16.3	)
Taxes – other than income taxes		(1.0	)		(0.7	)		(2.9	)		(1.9	)
Operating income	$	5.3		$	8.3		$	18.8		$	23.6
Average daily rate:
Gross margin	$	16.4		$	17.6		$	47.6		$	45.9
Fleet operating days (in thousands)		15.2			13.5			41.2			33.5
Average daily rate ( in thousands)	$	1.08		$	1.30		$	1.16		$	1.37
(1)Amounts represent equipment that has neither been licensed or certified and available for use. (2)The aggregate number of calendar days in a period during which each vessel in our fleet has been owned by us less the aggregate number of days in a period that our vessels are not operating due to scheduled or unscheduled maintenance and repairs. (3)Fleet available days less the aggregate number of days that our vessels are off-hire in a period. (4)Fleet operating days divided by fleet available days.