| Address:
|
9 GREENWAY PLAZA, SUITE 2800
|
| City: |
HOUSTON |
|
State: |
TX |
|
Zip Code: |
77046 |
| Telephone: |
866-913-2122 |
|
Description of Business
|
Primary SIC Code:
4922 |
| (As filed with the SEC)
|
|
|
We are a Delaware limited partnership formed in 2005. Our business is conducted
by our subsidiaries, Boardwalk Pipelines, LP (Boardwalk Pipelines) and its
subsidiaries, Gulf Crossing Pipeline Company LLC (Gulf Crossing), Gulf South
Pipeline Company, LP (Gulf South) and Texas Gas Transmission, LLC (Texas Gas)
(together, the operating subsidiaries). Boardwalk Pipelines Holding Corp.
(BPHC), a wholly-owned subsidiary of Loews Corporation (Loews), owns 102.7
million of our common units, all 22.9 million of our class B units and, through
Boardwalk GP, LP (Boardwalk GP), an indirect wholly-owned subsidiary of BPHC,
holds the 2% general partner interest and all of our incentive distribution
rights (IDRs). The common units, class B units and general partner interest
owned by BPHC represent approximately 66% of our equity interests, excluding the
IDRs. Our Partnership Interests, in Item 5 contains more information on how we
calculate BPHC's equity ownership. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2011 | 1.17 | 0.528 | 21.91 | | 06/2011 | 1.22 | 0.525 | 23.80 | | 03/2011 | 1.43 | 0.520 | 22.84 | | 12/2010 | 1.47 | NA | 21.18 | | 09/2010 | 1.39 | 0.515 | 23.49 | | 06/2010 | 1.21 | 0.510 | 24.86 | | 03/2010 | 1.05 | 0.505 | 28.34 | | 12/2009 | 0.88 | 0.500 | 34.12 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2010 |
Leverage |
2010 |
| Net Inc/Comm Equity | -0.09 | Total Liab/Total Assets | 0.53 | | Net Inc/Total Assets | 0.04 | Total Liab/Inv Cap | 0.55 | | Net Inc/Inv Cap | 0.04 | Total Liab/Comm Equity | -1.12 | | Pretax Inc/Net Sales | 0.26 | Interest Coverage Ratio | 3.03 | | Net Inc/Net Sales | 0.26 | Curr Debt/Equity | NA | | Cash Flow/Net Sales | 0.42 | LTD/Equity | NA | | SG&A/NetSales | 0.17 | Total Debt/Equity | NA |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 9.49 | Quick Ratio | 0.93 | | Inventory Turnover | 90.88 | Current Ratio | 0.95 | | Inventory Day Sales | 0.20 | Net Rec/Curr Assets | 0.58 | | Net Sales/Work Cap | -105.36 | Inv/Curr Assets | 0.02 | | Net Sales/PP&E | 0.17 | | |
Income Statement (Millions) |
| |
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Total Revenues(Net Sales)
|
268.90
|
262.00
|
311.00
|
302.00
|
|
Cost of Goods Sold
|
72.60
|
70.30
|
58.90
|
77.00
|
|
Selling & Admin Exps
|
51.90
|
56.30
|
60.80
|
29.40
|
|
Operating Income
|
92.40
|
54.60
|
130.50
|
127.40
|
|
Interest Exp
|
39.60
|
41.60
|
38.30
|
30.70
|
|
Pretax Income
|
47.30
|
15.20
|
83.20
|
89.00
|
|
Other Income
|
-1.60
|
6.60
|
-13.40
|
-19.30
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
47.20
|
15.20
|
83.00
|
88.90
|
|
Assets
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Cash & Short Term Investments
|
84.20
|
53.90
|
31.70
|
55.00
|
|
Receivables - Total
|
110.20
|
113.10
|
120.60
|
118.40
|
|
Inventories - Total
|
8.00
|
10.00
|
9.10
|
3.60
|
|
Total Current Assets
|
232.70
|
207.60
|
189.80
|
203.20
|
|
Net Property, Plant & Equipment
|
6,306.10
|
6,321.80
|
6,340.20
|
6,383.80
|
|
Total Assets
|
6,804.80
|
6,794.20
|
6,825.00
|
6,878.00
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
162.60
|
172.10
|
132.10
|
184.70
|
|
Debt in Current Liabilities
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Total Current Liabilities
|
185.40
|
190.50
|
155.80
|
213.80
|
|
Long-Term Debt
|
3,198.20
|
3,122.30
|
3,270.90
|
3,310.90
|
|
Total Liabilities
|
3,557.40
|
3,486.90
|
3,603.80
|
3,636.60
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
NA
|
NA
|
NA
|
NA
|
|
Retained Earnings
|
NA
|
NA
|
NA
|
NA
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
NA
|
NA
|
NA
|
NA
|
|
Total Liabilities and Stockholders' Equity
|
NA
|
NA
|
NA
|
NA
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Net Cash Provided by Operating Activities
|
102.80
|
139.80
|
102.90
|
109.90
|
|
Net Cash Provided by Investing Activities
|
-31.40
|
-38.90
|
-29.10
|
-38.60
|
|
Net Cash Provided by Financing Activities
|
-41.10
|
-78.70
|
-97.10
|
-105.10
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2006 | 607.64 | 197.55 | 1.85 | | 12/2007 | 643.27 | 227.76 | 1.87 | | 12/2008 | 784.80 | 294.00 | 1.98 | | 12/2009 | 909.20 | 162.70 | 0.88 | | 12/2010 | 1,116.80 | 289.40 | 1.47 | | Growth Rates | 16.43 | 10.02 | -5.59 |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/11 | 176 | 132,122 | 71.91 |
|
Report Date :
2/6/2012
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