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Breitburn Energy Partners LP Message Board

  • rlp2451 rlp2451 Oct 1, 2013 1:02 PM Flag

    BBEP Amended 2012 Annual Report

    It appears that BBEP was either forced to amend their 2012 Annual Report or did so voluntarily, to change how they account for their put premiums. This reduced their Adjusted EBITDA for the prior years by the following amounts:

    2012: -$19,914,000
    2011:-$28,860
    2010 -prior: No change

    Added a new row titled “Derivative instrument settlements” under the same header that includes cash attributable to commodity derivative instruments that settled during the periods. Added new rows titled “Prepaid premiums on derivative instruments” and “Settlement payments on terminated derivative instruments” under this same header to reflect actual payments made or received relating to these items during the periods. We also revised the accounts receivable and other assets amount for the year ended December 31, 2012 from $(23.3) million to $6.8 million to remove the prepaid premiums.
    from the balance.

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