Print Page  |  Close Window

SEC Filings
10-Q
NUSTAR ENERGY L.P. filed this Form 10-Q on 05/15/2002
Entire Document
 
<PAGE>


<TABLE>
<CAPTION>



                VALERO L.P. AND VALERO LOGISTICS OPERATIONS, L.P.
                 CONSOLIDATED AND COMBINED STATEMENTS OF INCOME
            (unaudited, in thousands, except unit and per unit data)

                                                                       Three Months Ended March 31,
                                                                       ----------------------------
                                                                          2002               2001
                                                                          ----               ----
<S>                                                                    <C>                <C>
Revenues.......................................................        $ 26,024           $ 23,422
                                                                         ------             ------
Costs and expenses:
   Operating expenses..........................................           9,184              8,651
   General and administrative expenses.........................           1,789              1,172
   Depreciation and amortization...............................           4,355              3,238
                                                                         ------             ------
      Total costs and expenses.................................          15,328             13,061
                                                                         ------             ------
Operating income...............................................          10,696             10,361
  Equity income from Skelly-Belvieu Pipeline Company...........             678                669
  Interest expense, net........................................            (556)            (2,244)
                                                                         ------             ------
Income before income tax expense...............................          10,818              8,786
  Income tax expense...........................................             395                  -
                                                                         ------             ------
Net income.....................................................        $ 10,423           $  8,786
                                                                         ======             ======
Allocation of net income:
General partner's interest in net income.......................        $    195
Limited partners' interest in net income.......................           9,578
Net income applicable to the Wichita Falls Business
  for the month ended January 31, 2002.........................             650
                                                                         ------
  Net income...................................................        $ 10,423
                                                                         ======
Basic and diluted net income per limited
    partnership unit...........................................        $   0.50
                                                                         ======
Weighted average number of limited partnership
    units outstanding..........................................      19,241,617
                                                                     ==========
</TABLE>


    See accompanying notes to consolidated and combined financial statements.



                                       4