Enterprise Products Partners (EPD) 10-Q 9 Nov 09 2009 Q3 Quarterly report Financial data

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	Sep. 30, 2009	Dec. 31, 2008
Current assets:
Cash and cash equivalents	73.8	35.4
Restricted cash	102.8	203.8
Accounts and notes receivable - trade, net of allowance for doubtful accounts	1471.4	1185.5
Accounts receivable - related parties	37.9	61.6
Inventories (See Note 5)	1147.5	362.8
Derivative assets (see Note 4)	197	202.8
Prepaid and other current assets	118.6	111.8
Total current assets	3,149	2163.7
Property, plant and equipment, net	13661.6	13154.8
Investments in unconsolidated affiliates	901	949.5
Intangible assets, net of accumulated amortization	793	855.4
Goodwill	706.9	706.9
Deferred tax asset	1.1	0.4
Other assets	144.9	126.8
Total assets	19357.5	17957.5
Current liabilities:
Accounts payable - trade	327.1	300.5
Accounts payable - related parties	47.2	39.6
Accrued product payables	1675.6	1142.4
Accrued interest payable	117.4	151.9
Other accrued expenses	46.1	48.8
Derivative liabilities (see Note 4)	263.1	287.2
Other current liabilities	220.9	252.7
Total current liabilities	2697.4	2223.1
Long-term debt: (See Note 9)
Senior debt obligations - principal	7912.3	7813.4
Junior subordinated notes - principal	1232.7	1232.7
Other	53.3	62.3
Total long-term debt	9198.3	9108.4
Deferred tax liabilities	69.6	66.1
Other long-term liabilities	95.8	81.3
Limited Partners:
Common units	6670.8	6036.9
Restricted common units	34.1	26.2
General partner	136.6	123.6
Accumulated other comprehensive loss	-67.1	-97.2
Total Enterprise Products Partners L.P. partners' equity	6774.4	6089.5
Noncontrolling interest	522	389.1
Total equity	7296.4	6478.6
Total Liabilities and Partners' Equity	19357.5	17957.5

PARENTHETICAL DATA TO THE UNAUD

PARENTHETICAL DATA TO THE UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, except Share data	Sep. 30, 2009	Dec. 31, 2008
Current assets:
Allowance for doubtful accounts	14.4	15.1
Accumulated amortization	492.5	429.9
Limited Partners:
Common units outstanding	475,293,998	439,354,731
Restricted common units outstanding	2,658,850	2,080,600

UNAUDITED CONDENSED STATEMENTS

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS (USD $)
In Millions, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Revenues:
Third parties	4444.7	5997.7	11006.1	17498.4
Related parties	151.4	300.2	521	823.7
Total revenues (see Note 11)	4596.1	6297.9	11527.1	18322.1
Operating costs and expenses:
Third parties	3983.2	5806.7	9740.1	16,766
Related parties	237	165.2	655.6	477.1
Total operating costs and expenses	4220.2	5971.9	10395.7	17243.1
General and administrative costs:
Third parties	17.1	8.4	33.5	22.4
Related parties	16.8	13.4	51.2	44.6
Total general and administrative costs	33.9	21.8	84.7	67
Total costs and expenses	4254.1	5993.7	10480.4	17310.1
Equity in income of unconsolidated affiliates	22.5	14.9	18.3	48.1
Operating income	364.5	319.1	1,065	1060.1
Other Income Expense Abstract
Interest expense	(128)	-102.7	-374.6	-290.4
Interest income	0.2	2.1	1.4	4.7
Other, net	-0.2	-0.9	-0.5	-1.9
Total other expense, net	(128)	-101.5	-373.7	-287.6
Income before provision for income taxes	236.5	217.6	691.3	772.5
Provision for income taxes	-6.6	-6.6	(24)	-17.2
Net income	229.9	211	667.3	755.3
Net income attributable to noncontrolling interest	(17)	-7.9	-42.5	-29.3
Net income attributable to Enterprise Products Partners L.P.	212.9	203.1	624.8	726
Net income allocated to:
Limited partners	171.3	167.6	504.6	620.5
General partner	41.6	35.5	120.2	105.5
Basic and diluted earnings per unit (see Note 13)	0.36	0.38	1.09	1.41

1_UNAUDITED CONDENSED STATEMENT

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (USD $)
In Millions	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Net income	229.9	$211	667.3	755.3
Cash flow hedges:
Commodity derivative instrument losses during period	-8.3	(244)	-146.9	-124.1
Reclassification adjustment for losses included in net income related to commodity derivative instruments	77.8	28.5	176.3	15.8
Interest rate derivative instrument gains (losses) during period	(8)	-1.1	7.1	-22.9
Reclassification adjustment for (gains) losses included in net income related to interest rate derivative instruments	1.3	0	3.3	-2.4
Foreign currency derivative gains (losses)	0.2	0	-10.3	-1.3
Total cash flow hedges	63	-216.6	29.5	-134.9
Foreign currency translation adjustment	1.1	0.4	1.7	0.5
Change in funded status of pension and postretirement plans, net of tax	0	0	0	-0.3
Total other comprehensive income (loss)	64.1	-216.2	31.2	-134.7
Comprehensive income (loss)	294	-5.2	698.5	620.6
Comprehensive income attributable to noncontrolling interest	-17.3	-7.6	-43.6	-28.7
Comprehensive income attributable to Enterprise Products Partners L.P.	276.7	-12.8	654.9	591.9

2_UNAUDITED CONDENSED STATEMENT

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Operating activities:
Net income	667.3	755.3
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion	476.9	413.6
Equity in income of unconsolidated affiliates	-18.3	-48.1
Distributions received from unconsolidated affiliates	63.6	69.9
Operating leases paid by EPCO, Inc.	0.5	1.5
Gain from asset sales and related transactions	-0.4	-1.7
Non-cash impairment charge	1.7	0
Deferred income tax expense	2.5	5.6
Changes in fair market value of derivative instruments	11.7	5.4
Effect of pension settlement recognition	-0.1	-0.1
Net effect of changes in operating accounts (see Note 16)	(590)	-228.4
Net cash flows provided by operating activities	615.4	973
Investing activities:
Capital expenditures	-851.1	-1485.6
Contributions in aid of construction costs	12.8	21.2
Decrease (increase) in restricted cash	100.8	-112.2
Cash used for business combinations	-24.5	-57.1
Acquisition of intangible assets	0	-5.1
Investments in unconsolidated affiliates	-14.5	(72)
Other proceeds from investing activities	5.1	1.7
Cash used in investing activities	-771.4	-1709.1
Financing activities:
Borrowings under debt agreements	3818.9	6360.4
Repayments of debt	-3724.2	(4,824)
Debt issuance costs	-5.2	-8.8
Cash distributions paid to partners	-860.6	-770.9
Cash distributions paid to noncontrolling interest (see Note 10)	-47.9	-39.2
Net cash proceeds from issuance of common units	878.2	57.2
Cash contributions from noncontrolling interest (see Note 10)	137.4	0
Acquisition of Treasury Units	-1.8	-0.8
Monetization of interest rate derivative instruments	0	-22.1
Cash provided by financing activities	194.8	751.8
Effect of exchange rate changes on cash	-0.4	0
Net change in cash and cash equivalents	38.8	15.7
Cash and cash equivalents, January 1	35.4	39.7
Cash and Cash Equivalents, September 30	73.8	55.4

3_UNAUDITED CONDENSED STATEMENT

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED EQUITY (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Partners' Capital, Beginning Balance	6478.6	6562.1
Net income	667.3	755.3
Operating Lease Expense Paid By Epco Inc	0.5	1.5
Cash distributions to partners	-860.1	-770.3
Unit option reimbursements to EPCO, Inc.	-0.5	-0.6
Cash distributions paid to noncontrolling interest (See Note 10)	47.9	39.2
Net cash proceeds from issuance of common units	877.7	56.5
Cash proceeds from exercise of unit options	0.5	0.7
Cash contributions from noncontrolling interest (see Note 10)	137.4
Amortization of equity awards	13.7	8.8
Interest acquired from noncontrolling interest		-7.6
Acquisition of Treasury Units	-1.8	-0.8
Foreign currency translation adjustment	1.7	0.5
Change in funded status of pension and postretirement plans		-0.3
Cash flow hedges	29.5	-134.9
Other	-0.2
Partners' Capital, Ending Balance	7296.4	6431.7
Limited Partner [Member]
Partners' Capital, Beginning Balance	6063.1	5992.9
Net income	504.6	620.5
Operating Lease Expense Paid By Epco Inc	0.5	1.5
Cash distributions to partners	-735.2	-663.9
Unit option reimbursements to EPCO, Inc.	-0.5	-0.6
Cash distributions paid to noncontrolling interest (See Note 10)	0	0
Net cash proceeds from issuance of common units	860.2	55.4
Cash proceeds from exercise of unit options	0.5	0.7
Cash contributions from noncontrolling interest (see Note 10)	0
Amortization of equity awards	13.5	8.7
Interest acquired from noncontrolling interest		0
Acquisition of Treasury Units	-1.8	-0.8
Foreign currency translation adjustment	0	0
Change in funded status of pension and postretirement plans		0
Cash flow hedges	0	0
Other	0
Partners' Capital, Ending Balance	6704.9	6014.4
General Partner [Member]
Partners' Capital, Beginning Balance	123.6	122.3
Net income	120.2	105.5
Operating Lease Expense Paid By Epco Inc	0	0
Cash distributions to partners	-124.9	-106.4
Unit option reimbursements to EPCO, Inc.	0	0
Cash distributions paid to noncontrolling interest (See Note 10)	0	0
Net cash proceeds from issuance of common units	17.5	1.1
Cash proceeds from exercise of unit options	0	0
Cash contributions from noncontrolling interest (see Note 10)	0
Amortization of equity awards	0.2	0.1
Interest acquired from noncontrolling interest		0
Acquisition of Treasury Units	0	0
Foreign currency translation adjustment	0	0
Change in funded status of pension and postretirement plans		0
Cash flow hedges	0	0
Other	0
Partners' Capital, Ending Balance	136.6	122.6
Accumulated Other Comprehensive Income [Member]
Partners' Capital, Beginning Balance	-97.2	19.1
Net income	0	0
Operating Lease Expense Paid By Epco Inc	0	0
Cash distributions to partners	0	0
Unit option reimbursements to EPCO, Inc.	0	0
Cash distributions paid to noncontrolling interest (See Note 10)	0	0
Net cash proceeds from issuance of common units	0	0
Cash proceeds from exercise of unit options	0	0
Cash contributions from noncontrolling interest (see Note 10)	0
Amortization of equity awards	0	0
Interest acquired from noncontrolling interest		0
Acquisition of Treasury Units	0	0
Foreign currency translation adjustment	1.7	0.5
Change in funded status of pension and postretirement plans		-0.3
Cash flow hedges	28.4	-134.3
Other	0
Partners' Capital, Ending Balance	-67.1	(115)
Noncontrolling Interest [Member]
Partners' Capital, Beginning Balance	389.1	427.8
Net income	42.5	29.3
Operating Lease Expense Paid By Epco Inc	0	0
Cash distributions to partners	0	0
Unit option reimbursements to EPCO, Inc.	0	0
Cash distributions paid to noncontrolling interest (See Note 10)	-47.9	-39.2
Net cash proceeds from issuance of common units	0	0
Cash proceeds from exercise of unit options	0	0
Cash contributions from noncontrolling interest (see Note 10)	137.4
Amortization of equity awards	0	0
Interest acquired from noncontrolling interest		-7.6
Acquisition of Treasury Units	0	0
Foreign currency translation adjustment	0	0
Change in funded status of pension and postretirement plans		0
Cash flow hedges	1.1	-0.6
Other	-0.2
Partners' Capital, Ending Balance	$522	409.7

Partnership Organization and Ba

Partnership Organization and Basis of Presentation
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Partnership Organization and Basis of Presentation	Note 1.Partnership Organization and Basis of Presentation Partnership Organization Enterprise Products Partners L.P. is a publicly traded Delaware limited partnership, the common units of which are listed on the New York Stock Exchange (NYSE) under the ticker symbol EPD.Unless the context requires otherwise, references to we, us, our or Enterprise Products Partners are intended to mean the business and operations of Enterprise Products Partners L.P. and its consolidated subsidiaries. We were formed in April 1998 to own and operate certain natural gas liquids (NGLs) related businesses of EPCO, Inc. (EPCO).We conduct substantially all of our business through our wholly owned subsidiary, Enterprise Products Operating LLC (EPO).We are owned 98% by our limited partners and 2% by Enterprise Products GP, LLC (our general partner, referred to as EPGP).EPGP is owned 100% by Enterprise GP Holdings L.P. (Enterprise GP Holdings), a publicly traded limited partnership, the units of which are listed on the NYSE under the ticker symbol EPE.The general partner of Enterprise GP Holdings is EPE Holdings, LLC (EPE Holdings), a wholly owned subsidiary of Dan Duncan LLC, all of the membership interests of which are owned by Dan L. Duncan.We, EPGP, Enterprise GP Holdings, EPE Holdings and Dan Duncan LLC are affiliates and under the common control of Dan L. Duncan, the Group Co-Chairman and controlling shareholder of EPCO. References to TEPPCO and TEPPCO GP mean TEPPCO Partners, L.P. and Texas Eastern Products Pipeline Company, LLC (which is the general partner of TEPPCO), respectively, prior to their mergers with our subsidiaries.On October 26, 2009, we completed the mergers with TEPPCO and TEPPCO GP (such related mergers referred to herein individually and together as the TEPPCO Merger).See Note 18 for additional information regarding the TEPPCO Merger. References to Energy Transfer Equity mean the business and operations of Energy Transfer Equity, L.P. and its consolidated subsidiaries.References to LE GP mean LE GP, LLC, which is the general partner of Energy Transfer Equity.Enterprise GP Holdings owns a noncontrolling interest in both LE GP and Energy Transfer Equity.Enterprise GP Holdings accounts for its investments in LE GP and Energy Transfer Equity using the equity method of accounting. References to Employee Partnerships mean EPE Unit L.P., EPE Unit II, L.P., EPE Unit III, L.P., Enterprise Unit L.P. and EPCO Unit L.P.,collectively, all of which are privately held affiliates of EPCO. For financial reporting purposes, we consolidate the financial statements of Duncan Energy Partners L.P. (Duncan Energy Partners) with those of our own and reflect its operations in our business segments.We control Duncan Energy Partners through our ownership of its general partner, DEP Holdings, LLC (DEP GP).Also, due to common control of the entities by Dan L. Duncan, the initial consolidated balance sheet of Duncan Energy Partners reflects our historical carrying basis in each of the subsidiaries contributed to Duncan Energy Partners.Public ownership of Duncan Energy Partners net assets and earnings are presented as a component of noncontrolling inte

General Accounting Matters

General Accounting Matters
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
General Accounting Matters	Note 2.General Accounting Matters Estimates Preparing our financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts presented in the financial statements (e.g. assets, liabilities, revenues and expenses) and disclosures about contingent assets and liabilities.Our actual results could differ from these estimates.On an ongoing basis, management reviews its estimates based on currently available information.Changes in facts and circumstances may result in revised estimates. Fair Value Information Cash and cash equivalents andrestricted cash, accounts receivable, accounts payable and accrued expenses, and other current liabilities are carried at amounts which reasonably approximate their fair values due to their short-term nature.The estimated fair values of our fixed rate debt are based on quoted market prices for such debt or debt of similar terms and maturities.The carrying amounts of our variable rate debt obligations reasonably approximate their fair values due to their variable interest rates.See Note 4 for fair value information associated with our derivative instruments.The following table presents the estimated fair values of our financial instruments at the dates indicated: September 30, 2009 December 31, 2008 Carrying Fair Carrying Fair Financial Instruments Value Value Value Value Financial assets: Cash and cash equivalents and restricted cash $ 176.6 $ 176.6 $ 239.2 $ 239.2 Accounts receivable 1,509.3 1,509.3 1,247.1 1,247.1 Financial liabilities: Accounts payable and accrued expenses 2,213.4 2,213.4 1,683.2 1,683.2 Other current liabilities 220.9 220.9 252.7 252.7 Fixed-rate debt (principal amount) 7,986.7 8,324.5 7,704.3 6,639.0 Variable-rate debt 1,158.3 1,158.3 1,341.8 1,341.8 Recent Accounting Developments The following information summarizes recently issued accounting guidance that will or may affect our future financial statements. Generally Accepted Accounting Principles.In June 2009, the FASB published ASC 105, Generally Accepted Accounting Principles, as the source of authoritative GAAP for U.S. companies.The ASC reorganized GAAP into a topical format and significantly changes the way users research accounting issues.For SEC registrants, the rules and interpretive releases of the SEC under federal securities laws are also sources of authoritative GAAP.References to specific GAAP in our consolidated financial statements now refer exclusively to the ASC.We adopted the new codification on September 30, 2009. Fair Value Measurements.In April 2009, the FASB issued ASC 820, Fair Value Measurements and Disclosures, to clarify fair value accounting rules. This new accounting guidance establishes a process to determine whether a market is active and a transaction is consummated under distress.Companies should look at several factors and use professional judgment to ascertain if a f

Accounting for Equity Awards

Accounting for Equity Awards
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Accounting for Equity Awards	Note 3.Accounting for Equity Awards Certain key employees of EPCO participate in long-term incentive compensation plans managed by EPCO.The compensation expense we record related to equity awards is based on an allocation of the total cost of such incentive plans to EPCO.We record our pro rata share of such costs based on the percentage of time each employee spends on our consolidated business activities.Such awards were not material to our consolidated financial position, results of operations or cash flows for the periods presented.The amount of equity-based compensation allocable to our businesses was $5.5 million and $4.3 million for the three months ended September 30, 2009 and 2008, respectively.For the nine months ended September 30, 2009 and 2008, the amount of equity-based compensation allocable to our businesses was $13.7 million and $10.6 million, respectively. EPCO 1998 Long-Term Incentive Plan The EPCO 1998 Long-Term Incentive Plan (EPCO 1998 Plan) provides for the issuance of up to 7,000,000 of our common units.After giving effect to the issuance or forfeiture of option awards and restricted unit awards through September 30, 2009, a total of 428,847 additional common units could be issued under the EPCO 1998 Plan. Unit option awards.The following table presents option activity under the EPCO 1998 Plan for the periods indicated: Weighted- Weighted- Average Average Remaining Aggregate Number of Strike Price Contractual Intrinsic Units (dollars/unit) Term (in years) Value (1) Outstanding at December 31, 2008 2,168,500 $ 26.32 Granted (2) 30,000 $ 20.08 Exercised (56,000 ) $ 15.66 Forfeited (365,000 ) $ 26.38 Outstanding at September 30, 2009 1,777,500 $ 26.54 4.6 $ 3.0 Options exercisable at September 30, 2009 652,500 $ 23.71 4.7 $ 3.0 (1) Aggregate intrinsic value reflects fully vested unit options at September 30, 2009. (2) Aggregate grant date fair value of these unit options issued during 2009 was $0.2 million based on the following assumptions: (i) a grant date market price of our common units of $20.08 per unit; (ii) expected life of options of 5.0 years; (iii) risk-free interest rate of 1.81%; (iv) expected distribution yield on our common units of 10%; and (v) expected unit price volatility on our common units of 72.76%. The total intrinsic value of option awards exercised during the three months ended September 30, 2009 and 2008 was $0.3 million and $0.1 million, respectively.For each of the nine months ended September 30, 2009 and 2008, the total intrinsic value of option awards exercised was $0.6 million.At September 30, 2009, the estimated total unrecognized compensation cost related to nonvested unit option awards granted under the EPCO 1998 Plan was $1.1 million.We will recognize our share of these costs in accordance with the EPCO administrative services agreement (the ASA) (

Derivative Instruments, Hedging

Derivative Instruments, Hedging Activities and Fair Value Measurements
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Derivative Instruments, Hedging Activities and Fair Value Measurements	Note 4.Derivative Instruments, Hedging Activities and Fair Value Measurements In the course of our normal business operations, we are exposed to certain risks, including changes in interest rates, commodity prices and, to a limited extent, foreign exchange rates.In order to manage risks associated with certain identifiable and anticipated transactions, we use derivative instruments.Derivatives are financial instruments whose fair value is determined by changes in a specified benchmark such as interest rates, commodity prices or currency values.Typical derivative instruments include futures, forward contracts, swaps and other instruments with similar characteristics.Substantially all of our derivatives are used for non-trading activities. We are required to recognize derivative instruments at fair value as either assets or liabilities on the balance sheet.While all derivatives are required to be reported at fair value on the balance sheet, changes in fair value of the derivative instruments will be reported in different ways depending on the nature and effectiveness of the hedging activities to which they are related.After meeting specified conditions, a qualified derivative may be specifically designated as a total or partial hedge of: Changes in the fair value of a recognized asset or liability, or an unrecognized firm commitment - In a fair value hedge, all gains and losses (of both the derivative instrument and the hedged item) are recognized in income during the period of change. Variable cash flows of a forecasted transaction - In a cash flow hedge, the effective portion of the hedge is reported in other comprehensive income (OCI) and is reclassified into earnings when the forecasted transaction affects earnings. Foreign currency exposure, such as through an unrecognized firm commitment. An effective hedge is one in which the change in fair value of a derivative instrument can be expected to offset 80% to 125% of changes in the fair value of a hedged item at inception and throughout the life of the hedging relationship.The effective portion of a hedge is the amount by which the derivative instrument exactly offsets the change in fair value of the hedged item during the reporting period.Conversely, ineffectiveness represents the change in the fair value of the derivative instrument that does not exactly offset the change in the fair value of the hedged item.Any ineffectiveness associated with a hedge is recognized in earnings immediately.Ineffectiveness can be caused by, among other things, changes in the timing of forecasted transactions or a mismatch of terms between the derivative instrument and the hedged item. Interest Rate Derivative Instruments We utilize interest rate swaps, treasury locks and similar derivative instruments to manage our exposure to changes in the interest rates of certain consolidated debt agreements.This strategy is a component in controlling our cost of capital associated with such borrowings. The following table summarizes our interest rate derivative instruments outstanding at September 30, 2009, all of which were designated as hedging instruments under ASC 815-20, Hedging -

Inventories

Inventories
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Inventories	Note 5.Inventories Our inventory amounts were as follows at the dates indicated: September 30, December 31, 2009 2008 Working inventory (1) $ 508.1 $ 200.4 Forward sales inventory (2) 639.4 162.4 Total inventory $ 1,147.5 $ 362.8 (1) Working inventory is comprised of inventories of natural gas, NGLs and certain petrochemical products that are either available-for-sale or used in providing services. (2) Forward sales inventory consists of identified NGL and natural gas volumes dedicated to the fulfillment of forward sales contracts.As a result of energy market conditions, we significantly increased our physical inventory purchases and related forward physical sales commitments during 2009.In general, the significant increase in volumes dedicated to forward physical sales contracts improves the overall utilization and profitability of our fee-based assets. Our inventory values reflect payments for product purchases, freight charges associated with such purchase volumes, terminal and storage fees, vessel inspection costs, demurrage charges and other related costs.Inventories are valued at the lower of average cost or market. Operating costs and expenses, as presented on our Unaudited Condensed Statements of Consolidated Operations, include cost of sales amounts related to the sale of inventories.Our costs of sales amounts were $3.72 billion and $5.47 billion for the three months ended September 30, 2009 and 2008, respectively.For the nine months ended September 30, 2009 and 2008, our costs of sales amounts were $9.05billion and $15.88 billion, respectively.The decrease in cost of sales period-to-period is primarily due to lower energy commodity prices associated with our marketing activities. Due to fluctuating commodity prices, we recognize lower of average cost or market (LCM) adjustments when the carrying value of our available-for-sale inventories exceed their net realizable value.These non-cash charges are a component of cost of sales in the period they are recognized, and reflected in operating costs and expenses as presented on our Unaudited Condensed Statements of Consolidated Operations.LCM adjustments may be mitigated or offset through the use of commodity hedging instruments to the extent such instruments affect net realizable value.See Note 4 for a description of our commodity hedging activities.For the three months ended September 30, 2009 and 2008, we recognized LCM adjustments of $0.4 million and $36.5 million, respectively.We recognized LCM adjustments of $6.4 million and $41.3 million for the nine months ended September 30, 2009 and 2008, respectively.

Property, Plant and Equipment

Property, Plant and Equipment
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Property, Plant and Equipment	Note 6.Property, Plant and Equipment Our property, plant and equipment values and accumulated depreciation balances were as follows at the dates indicated: Estimated Useful Life September 30, December 31, in Years 2009 2008 Plants and pipelines (1) 3-45 (5) $ 13,927.2 $ 12,296.3 Underground and other storage facilities (2) 5-35 (6) 944.2 900.7 Platforms and facilities (3) 20-31 637.6 634.8 Transportation equipment (4) 3-10 41.5 38.7 Land 59.4 54.6 Construction in progress 802.8 1,604.7 Total 16,412.7 15,529.8 Less accumulated depreciation 2,751.1 2,375.0 Property, plant and equipment, net $ 13,661.6 $ 13,154.8 (1) Plants and pipelines include processing plants; NGL, petrochemical, crude oil and natural gas pipelines; terminal loading and unloading facilities; office furniture and equipment; buildings; laboratory and shop equipment; and related assets. (2) Underground and other storage facilities include underground product storage caverns; storage tanks; water wells; and related assets. (3) Platforms and facilities include offshore platforms and related facilities and other associated assets. (4) Transportation equipment includes vehicles and similar assets used in our operations. (5) In general, the estimated useful lives of major components of this category are as follows:processing plants, 20-35 years; pipelines, 18-45 years (with some equipment at 5 years); terminal facilities, 10-35 years; office furniture and equipment, 3-20 years; buildings, 20-35 years; and laboratory and shop equipment, 5-35 years. (6) In general, the estimated useful lives of major components of this category are as follows:underground storage facilities, 20-35 years (with some components at 5 years); storage tanks, 10-35 years; and water wells, 25-35 years (with some components at 5 years). The following table summarizes our depreciation expense and capitalized interest amounts for the periods indicated: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 Depreciation expense (1) $ 138.0 $ 115.5 $ 393.5 $ 339.3 Capitalized interest (2) 6.6 17.3 24.3 53.0 (1)Depreciation expense is a component of costs and expenses as presented in our Unaudited Condensed Statements of Consolidated Operations. (2)Capitalized interest increases the carrying value of the associated asset and reduces interest expense during the period it is recorded. In May 2009, we acquired certain rail and truck terminal facilities located in Mont Belvieu, Texas from Martin Midstream Partners L.P. (Martin).Cash consideration paid for this business combination was $23.7 million, all of which was recorded as additions to property, plant and equipment. On a pro forma consolidated basis, our revenues, costs and expenses, operating incom

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Investments in Unconsolidated Affiliates	Note 7.Investments in Unconsolidated Affiliates We own interests in a number of related businesses that are accounted for using the equity method of accounting.Our investments in unconsolidated affiliates are grouped according to the business segment to which they relate.See Note 11 for a general discussion of our business segments.The following table shows our investments in unconsolidated affiliates at the dates indicated: Ownership Percentage at September 30, September 30, December 31, 2009 2009 2008 NGL Pipelines Services: Venice Energy Service Company, L.L.C. 13.1% $ 33.1 $ 37.7 K/D/S Promix, L.L.C. (Promix) 50% 47.8 46.4 Baton Rouge Fractionators LLC 32.2% 23.6 24.1 Skelly-Belvieu Pipeline Company, L.L.C. (Skelly-Belvieu) 49% 37.4 36.0 Onshore Natural Gas Pipelines Services: Jonah Gas Gathering Company (Jonah) 19.4% 250.1 258.1 Evangeline (1) 49.5% 5.4 4.5 White River Hub, LLC 50% 27.0 21.4 Offshore Pipelines Services: Poseidon Oil Pipeline, L.L.C. (Poseidon) 36% 61.3 60.2 Cameron Highway Oil Pipeline Company (Cameron Highway) 50% 243.2 250.8 Deepwater Gateway, L.L.C. 50% 102.8 104.8 Neptune Pipeline Company, L.L.C. (Neptune) 25.7% 54.4 52.7 Nemo Gathering Company, LLC 33.9% -- 0.4 Texas Offshore Port System(TOPS) (2) -- -- 35.9 Petrochemical Services: Baton Rouge Propylene Concentrator, LLC 30% 11.4 12.6 La Porte (3) 50% 3.5 3.9 Total $ 901.0 $ 949.5 (1)Refers to our ownership interests in Evangeline Gas Pipeline Company, L.P. and Evangeline Gas Corp., collectively. (2)In April 2009, we elected to dissociate from this partnership and forfeit our investment (see discussion below). (3)Refers to our ownership interests in La Porte Pipeline Company, L.P. and La Porte GP, LLC, collectively. Our investments in Promix, La Porte, Neptune, Poseidon, Cameron Highway, Jonah and Skelly-Belvieu include excess cost amounts totaling $54.8 million and $56.6 million at September 30, 2009 and December 31, 2008, respectively, all of which are attributable to the fair value of the underlying tangible assets of these entities exceeding their book carrying values at the time of our acquisition of interests in these entities.To the extent that we attribute all or a portion of an excess cost amount to higher fair values, we amortize such excess cost as a reduction in equity earnings in a manner similar to depreciation.To the extent we attribute an excess cost amount to goodwill, we do not amortize this amount, but it is subject to evaluation for impairment.Amortization of excess cost amounts was $0.6 million and $0.5 million for the three months ended September 30, 2009 and 2008, respectively.For the nine months ended September 30, 2009 and 2008, amortization of such amoun

Intangible Assets and Goodwill

Intangible Assets and Goodwill
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Intangible Assets and Goodwill	Note 8.Intangible Assets and Goodwill Identifiable Intangible Assets The following table summarizes our intangible assets by segment at the dates indicated: September 30, 2009 December 31, 2008 Gross Accum. Carrying Gross Accum. Carrying Value Amort. Value Value Amort. Value NGL Pipelines Services: Customer relationship intangibles $ 237.4 $ (82.2 ) $ 155.2 $ 237.4 $ (68.7 ) $ 168.7 Contract-based intangibles 299.9 (131.6 ) 168.3 299.7 (117.4 ) 182.3 Subtotal 537.3 (213.8 ) 323.5 537.1 (186.1 ) 351.0 Onshore Natural Gas Pipelines Services: Customer relationship intangibles 372.0 (119.1 ) 252.9 372.0 (103.2 ) 268.8 Contract-based intangibles 101.3 (43.1 ) 58.2 101.3 (36.6 ) 64.7 Subtotal 473.3 (162.2 ) 311.1 473.3 (139.8 ) 333.5 Offshore Pipelines Services: Customer relationship intangibles 205.8 (101.8 ) 104.0 205.8 (90.7 ) 115.1 Contract-based intangibles 1.2 (0.2 ) 1.0 1.2 (0.1 ) 1.1 Subtotal 207.0 (102.0 ) 105.0 207.0 (90.8 ) 116.2 Petrochemical Services: Customer relationship intangibles 53.0 (11.6 ) 41.4 53.0 (10.5 ) 42.5 Contract-based intangibles 14.9 (2.9 ) 12.0 14.9 (2.7 ) 12.2 Subtotal 67.9 (14.5 ) 53.4 67.9 (13.2 ) 54.7 Total $ 1,285.5 $ (492.5 ) $ 793.0 $ 1,285.3 $ (429.9 ) $ 855.4 The following table presents the amortization expense of our intangible assets by business segment for the periods indicated: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 NGL Pipelines Services $ 9.1 $ 9.7 $ 27.7 $ 29.6 Onshore Natural Gas Pipelines Services 7.4 7.5 22.4 22.9 Offshore Pipelines Services 3.6 4.1 11.2 12.8 Petrochemical Services 0.4 0.5 1.3 1.5 Total $ 20.5 $ 21.8 $ 62.6 $ 66.8 Based on information currently available, we estimate that amortization expense will approximate $20.2 million for the fourth quarter of 2009, $77.8 million for 2010, $72.0 million for 2011, $62.3 million for 2012 and $56.4 million for 2013. Goodwill The following table summarizes our goodwill amounts by business segment at the dates indicated: September 30, December 31, 2009 2008 NGL Pipelines Services $ 269.0 $ 269.0 Onshore Natural Gas Pipelines Services 282.1 282.1 Offshore Pipelines Services 82.1 82.1 Petrochemical Services 73.7

Debt Obligations

Debt Obligations
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Debt Obligations	Note 9.Debt Obligations Our consolidated debt obligations consisted of the following at the dates indicated: September 30, December 31, 2009 2008 EPO senior debt obligations: Multi-Year Revolving Credit Facility, variable rate, due November 2012 $ 638.0 $ 800.0 Pascagoula MBFC Loan, 8.70% fixed-rate, due March 2010 (1) 54.0 54.0 Petal GO Zone Bonds, variable rate, due August 2037 57.5 57.5 Yen Term Loan, 4.93% fixed-rate, due March 2009 (2) -- 217.6 Senior Notes B, 7.50% fixed-rate, due February 2011 450.0 450.0 Senior Notes C, 6.375% fixed-rate, due February 2013 350.0 350.0 Senior Notes D, 6.875% fixed-rate, due March 2033 500.0 500.0 Senior Notes F, 4.625% fixed-rate, due October 2009 (1) 500.0 500.0 Senior Notes G, 5.60% fixed-rate, due October 2014 650.0 650.0 Senior Notes H, 6.65% fixed-rate, due October 2034 350.0 350.0 Senior Notes I, 5.00% fixed-rate, due March 2015 250.0 250.0 Senior Notes J, 5.75% fixed-rate, due March 2035 250.0 250.0 Senior Notes K, 4.950% fixed-rate, due June 2010 (1) 500.0 500.0 Senior Notes L, 6.30% fixed-rate, due September 2017 800.0 800.0 Senior Notes M, 5.65% fixed-rate, due April 2013 400.0 400.0 Senior Notes N, 6.50% fixed-rate, due January 2019 700.0 700.0 Senior Notes O, 9.75% fixed-rate, due January 2014 500.0 500.0 Senior Notes P, 4.60% fixed-rate, due August 2012 500.0 -- Duncan Energy Partners debt obligations: DEP Revolving Credit Facility, variable rate, due February 2011 180.5 202.0 DEP Term Loan, variable rate, due December 2011 282.3 282.3 Total principal amount of senior debt obligations 7,912.3 7,813.4 EPO Junior Subordinated Notes A, fixed/variable rate, due August 2066 550.0 550.0 EPO Junior Subordinated Notes B, fixed/variable rate, due January 2068 682.7 682.7 Total principal amount of senior and junior debt obligations 9,145.0 9,046.1 Other, non-principal amounts: Change in fair value of debt-related derivative instruments 47.6 51.9 Unamortized discounts, net of premiums (7.3 ) (7.3 ) Unamortized deferred net gains related to terminated interest rate swaps 13.0 17.7 Total other, non-principal amounts 53.3 62.3 Total long-term debt $ 9,198.3 $ 9,108.4 Letters of credit outstanding $ 109.3 $ 1.0 (1) In accordance with ASC 470, Debt, long-term and current maturities of debt reflect the classification of such obligations at September 30, 2009 after taking into consideration EPOs (i) $1.1 billion issuance of Senior Notes in October 2009 and (ii) ability to use available borrowing capacity under its Multi-Year Revolving Credit Facility. (2) The Yen Term Loan matured on March 30, 2009. Parent-Subsidiary Guarantor Relationships Enterprise Products Partners L.P. acts a

Equity and Distributions

Equity and Distributions
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Equity and Distributions	Note 10.Equity and Distributions Our common units represent limited partner interests, which give the holders thereof the right to participate in distributions and to exercise the other rights or privileges available to them under ourFifth Amended and Restated Agreement of Limited Partnership (together with all amendments thereto, the Partnership Agreement).We are managed by our general partner, EPGP. Equity Offerings and Registration Statements We have a universal shelf registration statement on file with the SEC that allows us to issue an unlimited amount of debt and equity securities for general partnership purposes.In January 2009, we issued 10,590,000 common units (including an over-allotment of 990,000 common units) to the public at an offering price of $22.20 per unit under this registration statement.We used the net proceeds of $225.6 million from the January 2009 equity offering to temporarily reduce borrowings outstanding under EPOs Multi-Year Revolving Credit Facility and for general partnership purposes.In June 2009, EPO issued $500.0 million in principal amount of Senior Notes P under this registration statement.Net proceeds from this senior note offering were used to repay the $200.0 Million Term Loan, to temporarily reduce borrowings outstanding under EPOs Multi-Year Revolving Credit Facility and for general partnership purposes. In September 2009, we issued 8,337,500 common units (including an over-allotment of 1,087,500 common units) to the public at an offering price of $28.00 per unit under this registration statement.We used the net proceeds of $226.4 million from the September 2009 equity offering to temporarily reduce borrowings outstanding under EPOs Multi-Year Revolving Credit Facility and for general partnership purposes.In October 2009, EPO issued $1.1 billion in principal amount of Senior Notes Q and R under this registration statement.Net proceeds from this senior note offering were used to repay $500.0 million in aggregate principal amount of Senior Notes F that matured in October 2009, to temporarily reduce borrowings outstanding under EPOs Multi-Year Revolving Credit Facility and for general partnership purposes. We also have a registration statement on file with the SEC authorizing the issuance of up to 40,000,000 common units in connection with our distribution reinvestment plan (DRIP).A total of 32,202,131 common units have been issued under this registration statement through September 30, 2009. In addition, we have a registration statement on file related to our employee unit purchase plan (EUPP), under which we can issue up to 1,200,000 common units.A total of 792,809 common units have been issued to employees under this plan through September 30, 2009. On September 4, 2009, we agreed to issue 5,940,594 common units in a private placement to EPCO Holdings, Inc., a privately held affiliate controlled by Dan L. Duncan, for $150.0 million, or $25.25 per unit.In accordance with the terms of the private placement, as approved by the Audit, Conflicts and Governance (ACG) Committee of EPGPs Board of Directors on September 1, 2009, the per unit purchase price of $25.25 was calculated based on

Business Segments

Business Segments
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Business Segments	Note 11.Business Segments We have four reportable business segments: NGL Pipelines Services, Onshore Natural Gas Pipelines Services, Offshore Pipelines Services and Petrochemical Services.Our business segments are generally organized and managed according to the type of services rendered (or technologies employed) and products produced and/or sold. The following table shows our measurement of total segment gross operating margin for the periods indicated: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 Revenues $ 4,596.1 $ 6,297.9 $ 11,527.1 $ 18,322.1 Less: Operating costs and expenses (4,220.2 ) (5,971.9 ) (10,395.7 ) (17,243.1 ) Add: Equity in income of unconsolidated affiliates 22.5 14.9 18.3 48.1 Depreciation, amortization and accretion in operating costs and expenses 160.6 138.4 467.3 408.6 Non-cash impairment charge included in operating costs and expenses 1.7 -- 1.7 -- Operating lease expense paid by EPCO 0.2 0.5 0.5 1.5 Gain from asset sales and related transactions in operating costs and expenses -- (0.9 ) (0.4 ) (1.7 ) Total segment gross operating margin $ 560.9 $ 478.9 $ 1,618.8 $ 1,535.5 A reconciliation of our total segment gross operating margin to operating income and income before provision for income taxes follows: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 Total segment gross operating margin $ 560.9 $ 478.9 $ 1,618.8 $ 1,535.5 Adjustments to reconcile total segment gross operating marginto operating income: Depreciation, amortization and accretion in operating costs and expenses (160.6 ) (138.4 ) (467.3 ) (408.6 ) Non-cash impairment charge included in operating costs and expenses (1.7 ) -- (1.7 ) -- Operating lease expense paid by EPCO (0.2 ) (0.5 ) (0.5 ) (1.5 ) Gain from asset sales and related transactions in operating costs and expenses -- 0.9 0.4 1.7 General and administrative costs (33.9 ) (21.8 ) (84.7 ) (67.0 ) Operating income 364.5 319.1 1,065.0 1,060.1 Other expense, net (128.0 ) (101.5 ) (373.7 ) (287.6 ) Income before provision for income taxes $ 236.5 $ 217.6 $ 691.3 $ 772.5 Information by segment, together with reconciliations to our consolidated totals, is presented in the following table: Reportable Segments Onshore NGL Natural Gas Offshore Adjustments Pipelines Pipelines Pipelines Petrochemical and Consolidated Services Services Services Services Elimina

Related Party Transactions

Related Party Transactions
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Related Party Transactions	Note 12.Related Party Transactions The following table summarizes our related party transactions for the periods indicated: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 Revenues from consolidated operations: EPCO and affiliates $ 41.1 $ 47.2 $ 98.9 $ 91.9 Energy Transfer Equity and subsidiaries 54.5 99.6 266.5 413.0 Unconsolidated affiliates 55.8 153.4 155.6 318.8 Total $ 151.4 $ 300.2 $ 521.0 $ 823.7 Cost of sales: EPCO and affiliates $ 32.1 $ 10.9 $ 75.7 $ 36.5 Energy Transfer Equity and subsidiaries 100.6 50.6 286.5 119.4 Unconsolidated affiliates 13.0 23.7 37.5 75.9 Total $ 145.7 $ 85.2 $ 399.7 $ 231.8 Operating costs and expenses: EPCO and affiliates $ 91.8 $ 77.1 $ 258.3 $ 238.0 Energy Transfer Equity and subsidiaries 2.0 5.9 5.3 15.0 Unconsolidated affiliates (2.5 ) (3.0 ) (7.7 ) (7.7 ) Total $ 91.3 $ 80.0 $ 255.9 $ 245.3 General and administrative expenses: EPCO and affiliates $ 16.8 $ 13.4 $ 51.2 $ 44.6 Other expense: EPCO and affiliates $ 0.1 $ -- $ 0.1 $ (0.3 ) The following table summarizes our related party receivable and payable amounts at the dates indicated: September 30, December 31, 2009 2008 Accounts receivable - related parties: EPCO and affiliates $ 27.9 $ 26.6 Energy Transfer Equity and subsidiaries 6.4 35.0 Unconsolidated affiliates 3.6 -- Total $ 37.9 $ 61.6 Accounts payable - related parties: EPCO and affiliates $ 16.9 $ 39.4 Energy Transfer Equity and subsidiaries 27.2 0.2 Unconsolidated affiliates 3.1 -- Total $ 47.2 $ 39.6 We believe that the terms and provisions of our related party agreements are fair to us; however, such agreements and transactions may not be as favorable to us as we could have obtained from unaffiliated third parties. Significant Relationships and Agreements with EPCO and affiliates We have an extensive and ongoing relationship with EPCO and its affiliates, which include the following significant entities that are not a part of our consolidated group of companies: EPCO and its privately held affiliates; EPGP, our general partner; Enterprise GP Holdings, which owns and controls our general partner; TEPPCO and its general partner, which are our wholly owned subsidiaries; and the Employee Partnerships. We also have an ongoing relationship with Duncan Energy Partners, the financial statements of which are consolidated with our own financial statements.Our transactions with Duncan Energy Partners are eliminated

Earnings Per Unit

Earnings Per Unit
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Earnings Per Unit	Note 13.Earnings Per Unit The following table presents the net income available to EPGP for the periods indicated: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 Net income attributable to Enterprise Products Partners L.P. $ 212.9 $ 203.1 $ 624.8 $ 726.0 Less incentive earnings allocations to EPGP (38.1 ) (32.0 ) (109.9 ) (92.8 ) Net income available after incentive earnings allocation 174.8 171.1 514.9 633.2 Multiplied by EPGP ownership interest 2.0 % 2.0 % 2.0 % 2.0 % Standard earnings allocation to EPGP $ 3.5 $ 3.4 $ 10.3 $ 12.7 Incentive earnings allocation to EPGP $ 38.1 $ 32.0 $ 109.9 $ 92.8 Standard earnings allocation to EPGP 3.5 3.4 10.3 12.7 Net income available to EPGP 41.6 35.4 120.2 105.5 Adjustment for ASC 260 (1) 2.5 1.1 5.3 3.2 Net income available to EPGP for EPU purposes $ 44.1 $ 36.5 $ 125.5 $ 108.7 (1)For purposes of computing basic and diluted earnings per unit ("EPU"), the master limited partnerships subsections of ASC 260 have been applied. The following table presents our calculation of basic and diluted earnings per unit for the periods indicated: For the Three Month For the Nine Month Ended September 30, Ended September 30, 2009 2008 2009 2008 BASIC EARNINGS PER UNIT Numerator Net income attributable to Enterprise Products Partners L.P. $ 212.9 $ 203.1 $ 624.8 $ 726.0 Net income available to EPGP for EPU purposes (44.1 ) (36.5 ) (125.5 ) (108.7 ) Net income available to limited partners $ 168.8 $ 166.6 $ 499.3 $ 617.3 Denominator Weighted average common units 461.5 435.3 456.0 434.6 Weighted average time-vested restricted units 2.8 2.3 2.4 2.0 Total 464.3 437.6 458.4 436.6 Basic earnings per unit Net income per unit before EPGP earnings allocation $ 0.45 $ 0.46 $ 1.36 $ 1.66 Net income available to EPGP (0.09 ) (0.08 ) (0.27 ) (0.25 ) Net income available to limited partners $ 0.36 $ 0.38 $ 1.09 $ 1.41 DILUTED EARNINGS PER UNIT Numerator Net income attributable to Enterprise Products Partners L.P. $ 212.9 $ 203.1 $ 624.8 $ 726.0 Net income available to EPGP for EPU purposes (44.1 ) (36.5 ) (125.5 ) (108.7 ) Net income available to limited partners $ 168.8 $ 166.6 $ 499.3 $ 617.3 Denominator Weighted average common units 461.5 435.3 456.0 434.6 Weig

Commitments and Contingencies

Commitments and Contingencies
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Commitments and Contingencies	Note 14.Commitments and Contingencies Litigation On occasion, we or our unconsolidated affiliates are named as a defendant in litigation and legal proceedings, including regulatory and environmental matters.Although we are insured against various risks to the extent we believe it is prudent, there is no assurance that the nature and amount of such insurance will be adequate, in every case, to indemnify us against liabilities arising from future legal proceedings.We are unaware of any litigation, pending or threatened, that we believe is reasonably likely to have a significant adverse effect on our financial position, results of operations or cash flows. We evaluate our ongoing litigation based upon a combination of litigation and settlement alternatives.These reviews are updated as the facts and combinations of the cases develop or change.Assessing and predicting the outcome of these matters involves substantial uncertainties.In the event that the assumptions we used to evaluate these matters change in future periods or new information becomes available, we may be required to record a liability for an adverse outcome.In an effort to mitigate potential adverse consequences of litigation, we could also seek to settle legal proceedings brought against us.We have not recorded any significant reserves for any litigation in our financial statements. On September 18, 2006, Peter Brinckerhoff, a purported unitholder of TEPPCO, filed a complaint in the Court of Chancery of the State of Delaware (the Delaware Court), in his individual capacity, as a putative class action on behalf of other unitholders of TEPPCO and derivatively on behalf of TEPPCO, concerning, among other things, certain transactions involving TEPPCO and us or our affiliates.Mr. Brinckerhoff filed an amended complaint on July 12, 2007.The amended complaint names as defendants (i) TEPPCO, certain of its current and former directors, and certain of its affiliates, (ii) us and certain of our affiliates, (iii) EPCO and (iv) Dan L. Duncan. The amended complaint alleges, among other things, that the defendants caused TEPPCO to enter into specified transactions that were unfair to TEPPCO or otherwise unfairly favored us or our affiliates over TEPPCO.These transactions are alleged to include: (i) the joint venture to further expand the Jonah system entered into by TEPPCO and us in August 2006 (the plaintiff alleges that TEPPCO did not receive fair value for allowing us to participate in the joint venture); (ii) the sale by TEPPCO of its Pioneer natural gas processing plant and certain gas processing rights to us in March 2006 (the plaintiff alleges that the purchase price we paid did not provide fair value to TEPPCO); and (iii) certain amendments to TEPPCOs partnership agreement, including a reduction in the maximum tier of TEPPCOs incentive distribution rights in exchange for TEPPCO units.The amended complaint seeks (i) rescission of the amendments to TEPPCOs partnership agreement, (ii) damages for profits and special benefits allegedly obtained by defendants as a result of the alleged wrongdoings in the amended complaint and (iii) an award to plaintiff of the costs of the ac

Significant Risks and Uncertain

Significant Risks and Uncertainties
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Significant Risks and Uncertainties	Note 15.Significant Risks and Uncertainties Insurance Matters EPCO completed its annual insurance renewal process during the second quarter of 2009. In light of recent hurricane and other weather-related events, the renewal of policies for weather-related risks resulted in significant increases in premiums and certain deductibles, as well as changes in the scope of coverage. EPCOs deductible for onshore physical damage from windstorms increased from $10.0 million per storm to $25.0 million per storm.EPCOs onshore program currently provides $150.0 million per occurrence for named windstorm events compared to $175.0 million per occurrence in the prior year.With respect to offshore assets, the windstorm deductible increased significantly from $10.0 million per storm (with a one-time aggregate deductible of $15.0 million) to $75.0 million per storm.EPCOs offshore program currently provides $100.0 million in the aggregate compared to $175.0 million in the aggregate for the prior year.For non-windstorm events, EPCOs deductible for both onshore and offshore physical damage remained at $5.0 million per occurrence. For certain of our major offshore assets, our producer customers have agreed to provide a specified level of physical damage insurance for named windstorms.For example, the producers associated with our Independence Hub and Marco Polo platforms have agreed to cover windstorm generated physical damage costs up to $250.0 million for each platform. Business interruption coverage in connection with a windstorm event remains in place for onshore assets, but was eliminated for offshore assets.Onshore assets covered by business interruption insurance must be out-of-service in excess of 60 days before any losses from business interruption will be covered.Furthermore, pursuant to the current policy, we will now absorb 50% of the first $50.0 million of any loss in excess of deductible amounts for our onshore assets. In the third quarter of 2008, certain of our onshore and offshore facilities located along the Gulf Coast of Texas and Louisiana were damaged by Hurricanes Gustav and Ike.The disruptions in hydrocarbon production caused by these storms resulted in decreased volumes for some of our pipeline systems, natural gas processing plants, NGL fractionators and offshore platforms, which in turn caused a decrease in gross operating margin from these operations.As a result of our share of EPCOs insurance deductibles for windstorm coverage, we expensed a combined cumulative total of $47.6 million of repair costs for property damage in connection with these two storms through September 30, 2009.We continue to file property damage claims in connection with the damage caused by these storms.We recognize business interruption proceeds as income when they are received in cash. The following table summarizes proceeds we received during the periods indicated from business interruption and property damage insurance claims with respect to certain named storms: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 Business interrupt

Supplemental Cash Flow Informat

Supplemental Cash Flow Information
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Supplemental Cash Flow Information	Note 16.Supplemental Cash Flow Information The following table provides information regarding the net effect of changes in our operating assets and liabilities for the periods indicated: For the Nine Months Ended September 30, 2009 2008 Decrease (increase) in: Accounts and notes receivable trade $ (286.0 ) $ 91.6 Accounts receivable related parties 37.2 (6.7 ) Inventories (799.2 ) (299.1 ) Prepaid and other current assets 3.0 (43.9 ) Other assets (24.6 ) 24.2 Increase (decrease) in: Accounts payable trade 8.3 (57.2 ) Accounts payable related parties 8.0 51.2 Accrued product payables 537.5 14.2 Accrued interest payable (3.0 ) 27.2 Other accrued expenses (34.8 ) (29.0 ) Other current liabilities (30.8 ) 7.7 Other liabilities (5.6 ) (8.6 ) Net effect of changes in operating accounts $ (590.0 ) $ (228.4 ) We incurred liabilities for construction in progress that had not been paid at September 30, 2009 and December 31, 2008 of $109.2 million and $91.6 million, respectively.Such amounts are not included under the caption Capital expenditures on the Unaudited Condensed Statements of Consolidated Cash Flows.

Condensed Consolidated Financia

Condensed Consolidated Financial Information of EPO
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Condensed Consolidated Financial Information of EPO	Note 17.Condensed Consolidated Financial Information of EPO EPO conducts substantially all of our business.Currently, we have no independent operations and no material assets outside those of EPO.EPO consolidates the financial statements of Duncan Energy Partners with its own financial statements. Enterprise Products Partners L.P. guarantees the debt obligations of EPO, with the exception of Duncan Energy Partners debt obligations.If EPO were to default on any of its guaranteed debt, Enterprise Products Partners L.P. would be responsible for full repayment of that obligation.See Note 9 for additional information regarding our consolidated debt obligations. The reconciling items between our consolidated financial statements and those of EPO are insignificant.The following table presents condensed consolidated balance sheet data for EPO at the dates indicated: September 30, December 31, 2009 2008 ASSETS Current assets $ 3,149.8 $ 2,175.6 Property, plant and equipment, net 13,661.6 13,154.8 Investments in unconsolidated affiliates 901.0 949.5 Intangible assets, net 793.0 855.4 Goodwill 706.9 706.9 Other assets 145.1 126.6 Total $ 19,357.4 $ 17,968.8 LIABILITIES AND EQUITY Current liabilities $ 2,689.4 $ 2,222.7 Long-term debt 9,198.3 9,108.4 Other long-term liabilities 165.5 147.3 Equity 7,304.2 6,490.4 Total $ 19,357.4 $ 17,968.8 Total EPO debt obligations guaranteedEnterprise Products Partners L.P. $ 8,682.2 $ 8,561.8 The following table presents condensed consolidated statements of operations data for EPO for the periods indicated: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 Revenues $ 4,596.1 $ 6,297.9 $ 11,527.1 $ 18,322.1 Costs and expenses 4,245.8 5,993.4 10,465.6 17,308.5 Equity in income of unconsolidated affiliates 22.5 14.9 18.3 48.1 Operating income 372.8 319.4 1,079.8 1,061.7 Other expense (128.0 ) (101.5 ) (373.7 ) (287.7 ) Income before provision for income taxes 244.8 217.9 706.1 774.0 Provision for income taxes (6.6 ) (6.6 ) (24.0 ) (17.2 ) Net income 238.2 211.3 682.1 756.8 Net income attributable to the noncontrolling interest (17.0 ) (8.0 ) (42.7 ) (29.4 ) Net income attributable to EPO $ 221.2 $ 203.3 $ 639.4 $ 727.4

Subsequent Events

Subsequent Events
	9 Months Ended Sep. 30, 2009 USD / shares
Notes To Financial Statements [Abstract]
Subsequent Events	Note 18.Subsequent Events Issuance of Senior Notes Q and R On October 5, 2009, EPO issued $500.0 million in principal amount of 10-year unsecured Senior Notes Q and $600.0 million in principal amount of 30-year unsecured Senior Notes R.Senior Notes Q were issued at 99.355% of their principal amount, have a fixed interest rate of 5.25% and mature on January 31, 2020.Senior Notes R were issued at 99.386% of their principal amount, have a fixed interest rate of 6.125% and mature on October 15, 2039.Net proceeds from the issuance of Senior Notes Q and R were used (i) to repay $500.0 million in aggregate principal amount of Senior Notes F that matured in October 2009, (ii) to temporarily reduce borrowings outstanding under EPOs Multi-Year Revolving Credit Facility and (iii) for general partnership purposes. Senior Notes Q and R rank equal with EPOs existing and future unsecured and unsubordinated indebtedness.They are senior to any existing and future subordinated indebtedness of EPO.Senior Notes Q and R are subject to make-whole redemption rights and were issued under indentures containing certain covenants, which generally restrict EPOs ability, with certain exceptions, to incur debt secured by liens and engage in sale and leaseback transactions. Completion of TEPPCO Merger On October 26, 2009, the related mergers of our wholly owned subsidiaries with TEPPCO and TEPPCO GP were completed.Under terms of the merger agreements, TEPPCO and TEPPCO GP became wholly owned subsidiaries of ours and each of TEPPCO's unitholders, except for a privately held affiliate of EPCO, were entitled to receive 1.24 of our common units for each TEPPCO unit.In total, we issued an aggregate of 126,932,318 common units and 4,520,431 Class B units (described below) as consideration in the TEPPCO Merger for both TEPPCO units and the TEPPCO GP membership interests.TEPPCOs units, which had been trading on the NYSE under the ticker symbol TPP, have been delisted and are no longer publicly traded. A privately held affiliate of EPCO exchanged a portion of its TEPPCO units, based on the 1.24 exchange rate, for 4,520,431 of our Class B units in lieu of common units.The Class B units are not entitled to regular quarterly cash distributions for the first sixteen quarters following the closing date of the merger.The Class B units automatically convert into the same number of common units on the date immediately following the payment date for the sixteenth quarterly distribution following the closing date of the merger.The Class B units are entitled to vote together with the common units as a single class on partnership matters and, except for the payment of distributions, have the same rights and privileges as our common units. Under the terms of the TEPPCO Merger agreements, Enterprise GP Holdings received 1,331,681 of our common units and an increase in the capital account of EPGP to maintain its 2% general partner interest in us as consideration for 100% of the membership interests of TEPPCO GP.Following the closing of the TEPPCO Merger, affiliates of EPCO owned approximately 31.3% of our outstanding limited partner units, including 3.4% owned by Enterpr

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	2009-09-30
Amendment Flag	false

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009	Nov. 04, 2009	Dec. 31, 2008
Entity Information [Line Items]
Entity Registrant Name	ENTERPRISE PRODUCTS PARTNERS L P
Entity Central Index Key	0001061219
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$8,440,000,000
Entity Common Stock, Shares Outstanding		604,716,122