Energy Transfer Operating 10K 2017 Annual report | ET+E Filing

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: AAI, AAPG, abandon, abandonment, abundance, acquiree, Ada, add, adherence, adjacent, admit, Adrian, advertising, advisory, AEP, afforded, AFUDC, agent, Agua, Alabama, Alamo, Alerian, ALJ, allotment, allotted, alter, alteration, altered, Ambient, amine, Amoco, amortizable, ample, annum, Antelope, AOCI, Appalachia, appellate, Aqua, arbitrage, Arcadia, Ariel, Arizona, Army, array, artifice, Asia, assemble, assembling, assignee, assignor, Atlantic, attached, attempt, attempting, auction, Austin, Avalon, Avatar, Bachelor, back, backlog, backup, bad, Bammel, Barnett, barred, baseball, Bcf, BCP, Beaver, Bethel, BG, binomial, Bird, Bistineau, Blackstone, Bluff, Blvd, BOEM, bona, Bone, booster, boosting, Bossier, bound, BP, Branch, breadth, Brett, British, broker, Brookeland, brought, Bryson, BS, BSEE, btu, burden, burdensome, Bureau, burning, Butler, Buyer, BW, Caddo, California, Calpine, captive, car, cargo, Cargray, Carlyle, carryback, carryforward, Carthage, casualty, Caterpillar, cavern, Cayman, CDM, CDPQ, CEA, ceiling, CEO, certainty, certified, certiorari, cessation, CFC, CFE, CFTC, Chalk, Chalkley, Chalmette, Chancery, Channel, Chapter, Characterization, characterize, characterized, chart, Chesapeake, Cheyenne, Chisholm, choose, chose, Christi, CIAC, Circuit, Citibank, citizen, clarity, clause, Cleburne, clerical, club, coal, colder, College, Colmesneil, Columbia, Comanche, commingled, commonly, Commonwealth, companion, compensatory, competitor, compliant, compound, compressed, compressing, compression, compressor, condemn, condemnation, conducive, Conference, congestion, constrained, content, continental, contractor, contrast, Conway, cooling, copy, Cornerstone, correspondingly, corridor, corrosion, Cotton, counteroffer, Coyanosa, creditworthy, Creedence, Crescent, CrossCountry, crossing, Crosstex, CRST, cryogenic, cryogenically, cure, curtail, curtailment, curve, Cushion, custody, cut, daughter, Dawn, DCM, DCP, DDD, de, deadline, deal, Dealer, debtor, deceit, declaratory, decommissioning, deconsolidated, deconsolidation, decree, deepwater, Deer, defective, Defiance, defraud, degasify, dehydrate, dehydration, DELCORA, Delhi, demolition, denied, deny, denying, depletion, deposit, depth, Deputy, derecognized, devaluation, device, devote, diameter, dictate, Dieckman, Dimmitt, disaggregated, discontinuance, discontinue, discontinued, discovery, discriminating, discrimination, discriminatorily, disgorge, disgorgement, diversification, dividend, divulging, Docket, dome, downstream, dredge, dredging, DRIP, dropdown, drug, DSCR, dual, Dubach, Dubberly, Duke, Dulce, duly, ease, easement, easily, eastward, EHB, Eighteenth, El, electric, electrical, electricity, eleven, Eleventh, ELG, Elizario, Elm, EnCana, endangered, endeavored, EPAct, equitable, ETCO, ETF, ETG, ETLP, ETT, eurodollar, Europe, European, evolved, excise, exert, exhibit, explanation, extraordinary, factual, familiar, familiarity, Fargo, fault, Fayetteville, feasibility, feasible, feedback, feeding, FEP, fewer, FGT, fide, Fifteenth, figure, fill, Fish, flat, floating, Florida, fluctuate, fluctuating, footprint, force, Ford, foreign, forgo, Forum, fourteen, Fourteenth, FOV, France, freedom, Freestone, frequency, fresh, FTA, fullest, Gateway, GE, Geismar, geological, Geologist, Geology, geophysical, Godley, graduate, gravity, Gray, greatly, Grimm, ground, Grove, grown, habitat, Halley, halt, Hamlin, Harrison, Harvard, Harvey, Haynesville, HCA, HDD, healthcare, hear, hearing, heart, heavy, heightened, Hemphill, Henry, herewith, HHI, HLPSA, horizontal, HPC, HPL, Hugoton, Hurricane, Hurt, hydrogen, hyperlink, ICA, ideally, immaterial, immateriality, imminent, impediment, imperfect, inch, incidental, inconsistent, incorrect, incurrence, indefinite, indefinitely, indeterminable, indeterminate, Indian, Indiana, ineligible, inlet, inquiry, insight, insignificant, instability, instituted, insufficient, intact, Interactive, Interior, intervened, introduced, investee, investigatory, Iowa, irrespective, isobutane, Jal, JD, Jim, job, Juan, Judge, junior, jurisdiction, jurisdictional, JV, Katy, Kelcy, Kenedy, Keyston, Kilgore, kind, Kinder, King, Kleberg, KMI, knew, knowledge, Korea, lack, lag, Landmen, landowner, lapse, larger, Lastly, lattice, LCL, league, leak, Leaseco, leave, leaving, left, legislature, lender, lengthy, lien, lieu, lifted, Lincoln, liquefaction, Lisbon, LNG, lock, locked, LPG, Lynch, MA, macroeconomic, magnitude, mandatorily, mandatory, manipulation, MAOP, Marion, Marwick, Maryland, Matrix, Matthew, McKenzie, Medicare, memorandum, mentioned, MEP, merchandise, Merrill, methane, metric, MHIC, mi, midcontinent, migration, migratory, milder, mile, Milepost, Minden, Mineral, Missouri, MLP, Mocane, mode, moderate, monetize, moot, Morgan, Mountain, Mountrail, MRD, Mt, MTBE, mud, multidistrict, nameplate, NASDAQ, nationwide, Native, nearby, negligence, NEPA, Nevada, Newton, Nextel, NGA, NGP, NGPA, NGPL, NGPSA, NHPA, nitrogen, NJ, noise, NOL, noncash, Noncompliance, northwest, northwestern, notification, notified, notifying, NOV, NTL, nuclear, Nuevo, nuisance, numerator, NY, Oahe, Ocean, OCS, odor, OEC, offshore, Oglala, olefin, Olive, onshore, OOOO, OOOOa, OPA, oral, organizational, Orla, OTC, outbid, Outer, outlook, outpace, output, overcome, overfunded, overhead, overlap, overlapping, overrun, oversee, Overview, oxide, ozone, page, Panhandle, Panola, Panther, Paraffine, parallel, pari, Parish, parking, Paso, passed, passu, path, Patricia, payroll, PBF, PCAOB, PCB, Peat, PEI, peninsula, PennTex, PEPL, permissible, permission, Perpetual, Perryville, persuade, petrochemical, Phoenix, placement, Placid, Plaintiff, plc, pledge, pneumatic, ponder, portray, pose, postretirement, PPIFG, predefined, preemptive, Preferability, preferable, preference, preferred, preferring, prejudice, prepackaged, prepay, prepayment, prescription, presence, preservation, preserving, presidential, Presidio, prioritizing, priority, proceed, progression, progressively, prolific, Propylene, proven, proximity, PRP, prudential, PSD, PSM, Puerto, punitive, pure, purity, PVR, qualification, qualitative, quantitative, Quebec, Quientesa, quorum, railcar, ramp, Ramsey, Ranch, rata, ratemaking, ration, raw, Ray, RCD, reallocation, Rebel, rebounded, recapture, recharacterize, Reclassification, reconsider, reconstructed, recordkeeping, Red, redemption, redistribution, Reed, referenced, refile, Reform, refurbish, regasification, Regency, rehearing, reinforcing, reinterpretation, rejected, rejection, relinquish, reluctant, remand, remanded, remeasure, remit, remitted, remitting, Renaissance, reoccurrence, resale, rescission, rescissory, resell, reservoir, residential, residual, residue, resold, restart, resume, resumed, retrain, retrofit, reveal, revisit, revoke, REX, RGP, Rhode, rich, Rico, rig, RMP, Road, Robin, rock, Rocky, rollforward, rotation, routinely, Rover, royalty, RPM, RSP, RSPP, Rubicon, rulemaking, runoff, rupture, rural, Ruston, Ryan, Salem, Sam, satisfaction, scenario, scheme, School, Science, scientific, scrutiny, Sea, secondary, seismic, seismicity, sending, Seventeenth, sharply, Shelf, shorthand, shortly, side, Sigma, simplicity, Sioux, Sixteenth, Skidmore, small, Smith, Sonat, Sonterra, sought, southwestern, spare, SPE, Spearman, Spirit, Spitzer, SPLP, spread, Spring, SRST, STACK, stake, Stark, station, statistical, stay, stayed, steel, Stoneman, stop, stopped, storm, stream, strength, stretching, stricter, strictly, struck, Sturrock, subdivide, sublease, Subpart, subscribed, subsidy, substituted, subsurface, Subtitle, subtracted, SUG, suggested, suitable, sulfide, Sunray, supplier, Supreme, surface, suspension, Susser, swap, Sweeny, sweet, switch, switching, Tape, Ted, temperature, temporarily, tender, tendered, terrorism, TexOk, theoretical, thereunto, thermal, thirteen, Thirteenth, tied, tiered, Tiger, tightening, timber, timeline, Tippet, Titan, tool, top, Torch, tracking, traditional, Trafigura, Trail, train, training, Transcontinental, Transwestern, Traverse, traversing, TRC, treaty, trial, tribal, Tribe, Tristate, TRO, Troy, TRRC, Trunkline, trustee, Twelfth, Tyler, UGI, unacceptable, unclassifiable, unclear, uncleared, uncollectible, uncommon, underfunded, undersigned, underutilized, underwritten, undue, unidentified, uninsured, uninterrupted, unjust, unpaid, unprotected, unrecognized, unrecovered, unregulated, unreserved, unsafe, unsold, unsubordinated, unsuccessful, untreated, untrue, upcoming, upper, upstream, USA, USAC, USACE, USACP, USEPA, Valley, valorem, valuable, valve, vehicle, Ventex, verdict, verification, Verified, Vermont, vicinity, Vida, void, volumetrically, Wachovia, Waha, Wakita, wall, Ware, warmer, warning, Warren, wastewater, weak, week, Westex, westward, wet, wetland, wheelage, Wheeler, Whiskey, White, WHR, widen, widespread, Wildlife, Woodall, Woodford, worker, WorldatWork, Worldwide, Wright, writ, wrongfully, Yankton, YST, Zinke

Removed: aboveground, accepting, accompanied, accurate, acting, administrator, analyzed, analyzing, Anderson, Angelle, annualized, anonymously, ANR, approximated, Aquila, arose, ascertained, Ash, ASIP, assistance, ATM, atmospheric, attained, attainment, attendance, attending, attestation, AU, backwardated, backwardation, balanced, bankrupt, banning, Basil, Bayview, behavior, Belmont, benchmark, beneficiary, biannual, body, boiling, bond, bought, bpd, Bray, Breaux, broadly, Buckeye, candid, cap, capped, caption, career, catastrophic, categorized, cathodic, ceased, Cede, Chair, chairperson, Chalson, character, Chevron, chilling, chosen, civic, Coastal, COBRA, codified, combustion, comfort, commensurate, communicated, compatibility, complimentary, complying, concentration, conditioned, confident, confidentially, Congressional, connectivity, Conoco, conservative, constituting, consulting, contaminated, continuously, convey, Cromwell, cyclical, DCF, dedicate, deducting, delaying, delegate, delegated, detract, dilute, dilutive, disabled, discover, disposing, dispositive, dividing, division, downturn, duration, economy, EDF, eliminate, ELTD, emerging, emit, Endevco, enrollment, entitling, escalate, essentially, estimating, ethical, exceeding, exercising, explosive, exportation, expressing, FICA, Fitch, forma, forwarded, frame, frequent, froze, fulfilling, fulfillment, Galtman, Garden, Goodrich, Governor, gradually, grand, grantee, grantor, Green, Hamilton, Hammond, handled, Haven, heading, headquartered, HOLP, hourly, identity, illustrative, inaccurate, inclement, inclusion, indemnification, indemnify, Insider, insolvent, installing, instrumentation, intensive, intentional, invest, involuntary, Inwood, IPO, John, Kathleen, Kurt, Lauterbach, Leawood, Leon, lessee, lessor, leveraged, license, Lieutenant, linked, liquidated, liquidating, Lockport, logistical, lowered, LTIP, Madison, malfunction, Manager, manufactured, Mason, matured, meaningful, Mesa, microwave, misconduct, modular, Montana, Montello, Moody, mortality, necessarily, NEO, Niska, obtainable, occasionally, opposite, optimized, orderly, outsourced, overly, overnight, partly, Pepper, petitioning, pick, planned, possession, precisely, pressurized, prevalent, procurement, prolonged, promissory, pronounced, protested, PRT, pump, rapidly, ratably, reactive, realizing, Reauthorization, recession, reconcile, recuse, refinancing, refrain, reintroduced, relay, renewal, requisite, Respectfully, retentive, revocable, risky, salvage, satellite, SCADA, Scott, SECURITYHOLDER, sediment, Senate, separator, session, shipment, Shore, shorter, skilled, Slough, Social, solid, sound, speculate, spouse, steadily, steep, Steven, strike, submitting, subordinate, subsidized, suddenly, Sugar, SunCoke, supervisor, Supervisory, supplement, survivor, sustainable, syndicated, Syracuse, tandem, tankage, technically, telephone, thirtieth, thousand, titled, tort, Tortoise, toxic, tradable, transact, transferring, traveling, trucking, true, Tulsa, typical, unaffiliated, unallocated, unbalanced, understandable, understood, undertook, undistributed, unearned, unexpected, unfamiliarity, unforeseen, unplanned, unpredictable, unusual, Utah, vacation, variance, variation, Vinson, VLCC, Wage, waiver, warrant, Welch, whichever, Wisconsin, Wolverine, workplace, world, write, writing, Yellowstone



	Years Ended December 31,
	2017			2016			2015			2014			2013
Fixed Charges:
Interest expense, net	$	1,365		$	1,317		$	1,291		$	1,165		$	1,013
Capitalized interest	283			199			163			101			45
Interest charges included in rental expense	10			9			19			17			16
Series A and B preferred unit distributions	24			—			—			—			—
Distribution to the Legacy Series A Convertible Redeemable Preferred Units	—			—			3			3			6
Total fixed charges	1,682			1,525			1,476			1,286			1,080
Earnings:
Income from continuing operations before income tax expense and noncontrolling interest	1,005			397			1,366			1,543			846
Less: equity in earnings of unconsolidated affiliates	156			59			469			332			236
Total earnings	849			338			897			1,211			610
Add:
Fixed charges	1,682			1,525			1,476			1,286			1,080
Amortization of capitalized interest	20			18			11			8			6
Distributed income of equity investees	440			406			440			291			313
Less:
Interest capitalized	(283		)	(199		)	(163		)	(101		)	(45		)
Income available for fixed charges	$	2,708		$	2,088		$	2,661		$	2,695		$	1,964

Ratio of earnings to fixed charges	1.61			1.37			1.80			2.10			1.82

Energy Transfer Operating (ET+E) 10-K2017 FY Annual report

Content analysis