Magellan Midstream Partners, L.P. - FORM 8-K - EX-99.1 - EXHIBIT

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8-K - 8-K - Magellan Midstream Partners, L.P.	a8-krestatedquarterlydata2.htm

Exhibit 99.1



MAGELLAN MIDSTREAM PARTNERS, L.P.
OPERATING MARGIN RECONCILIATION TO OPERATING PROFIT
(in thousands)
(Unaudited, except year ended December 31, 2009, which is derived from our audited financial statements)

	Three Months Ended									Year Ended
	March 31,			June 30,		September 30,		December 31,		December 31,
	2009			2009		2009		2009		2009
Refined products:
Transportation and terminals revenue	$	125,727		$	135,487	$	142,057	$	145,018	$	548,289
Operating expenses	49,901			50,763		62,374		50,568		213,606
Transportation and terminals margin	75,826			84,724		79,683		94,450		334,683

Product sales revenues	57,349			41,090		65,290		169,004		332,733
Product purchases	52,247			40,756		47,582		138,748		279,333
Product margin	5,102			334		17,708		30,256		53,400
Operating margin	$	80,928		$	85,058	$	97,391	$	124,706	$	388,083

Crude oil:
Transportation and terminals revenue	$	1,776		$	1,797	$	1,809	$	1,820	$	7,202
Operating expenses	600			809		713		780		2,902
Transportation and terminals margin	1,176			988		1,096		1,040		4,300
Affiliate management fee revenue	190			190		190		191		761
Equity earnings	519			939		1,368		605		3,431
Operating margin	$	1,885		$	2,117	$	2,654	$	1,836	$	8,492

Marine storage:
Transportation and terminals revenue	$	27,517		$	29,419	$	29,638	$	36,880	$	123,454
Operating expenses	10,927			10,211		11,711		12,117		44,966
Transportation and terminals margin	16,590			19,208		17,927		24,763		78,488

Product sales revenues	367			237		786		342		1,732
Product purchases	383			234		320		21		958
Product margin (loss)	(16		)	3		466		321		774
Operating margin	$	16,574		$	19,211	$	18,393	$	25,084	$	79,262

Segment operating margin	$	99,387		$	106,386	$	118,438	$	151,626	$	475,837
Add: Allocated corporate depreciation costs	961			935		935		1,008		3,839
Total operating margin	100,348			107,321		119,373		152,634		479,676
Less:
Depreciation and amortization	23,152			23,163		24,613		26,288		97,216
General and administrative expense	21,136			20,248		20,002		22,663		84,049
Total operating profit	$	56,060		$	63,910	$	74,758	$	103,683	$	298,411

Exhibit 99.1



MAGELLAN MIDSTREAM PARTNERS, L.P.
OPERATING MARGIN RECONCILIATION TO OPERATING PROFIT
(in thousands)
(Unaudited, except year ended December 31, 2010, which is derived from our audited financial statements)

	Three Months Ended										Year Ended
	March 31,		June 30,		September 30,			December 31,			December 31,
	2010		2010		2010			2010			2010
Refined products:
Transportation and terminals revenue	$	137,316	$	156,354	$	166,186		$	172,016		$	631,872
Operating expenses	50,895		57,540		71,844			52,286			232,565
Transportation and terminals margin	86,421		98,814		94,342			119,730			399,307

Product sales revenues	155,430		229,008		197,302			177,322			759,062
Product purchases	132,159		183,367		186,772			164,781			667,079
Product margin	23,271		45,641		10,530			12,541			91,983
Operating margin	$	109,692	$	144,455	$	104,872		$	132,271		$	491,290

Crude oil:
Transportation and terminals revenue	$	1,811	$	2,146	$	6,213		$	11,881		$	22,051
Operating expenses ⁽¹⁾	598		699		(197		)	(862		)	238
Transportation and terminals margin	1,213		1,447		6,410			12,743			21,813
Affiliate management fee revenue	190		189		190			189			758
Equity earnings	1,189		1,480		1,654			1,409			5,732
Other	—		—		805			(591		)	214
Operating margin	$	2,592	$	3,116	$	9,059		$	13,750		$	28,517

Marine storage:
Transportation and terminals revenue	$	34,042	$	34,673	$	34,328		$	36,633		$	139,676
Operating expenses	11,681		12,708		16,580			11,449			52,418
Transportation and terminals margin	22,361		21,965		17,748			25,184			87,258

Product sales revenues	906		690		1,177			1,041			3,814
Product purchases	725		272		221			288			1,506
Product margin	181		418		956			753			2,308
Operating margin	$	22,542	$	22,383	$	18,704		$	25,937		$	89,566

Segment operating margin	$	134,826	$	169,954	$	132,635		$	171,958		$	609,373
Add: Allocated corporate depreciation costs	1,065		660		643			641			3,009
Total operating margin	135,891		170,614		133,278			172,599			612,382
Less:
Depreciation and amortization	26,342		25,715		27,403			29,208			108,668
General and administrative expense	23,242		20,178		23,624			28,272			95,316
Total operating profit	$	86,307	$	124,721	$	82,251		$	115,119		$	408,398

(1) We charge product over/short amounts to operating expenses. In the third and fourth quarters of 2010, product overages more than offset other operating expenses for this segment.

Exhibit 99.1



MAGELLAN MIDSTREAM PARTNERS, L.P.
OPERATING MARGIN RECONCILIATION TO OPERATING PROFIT
(in thousands)
(Unaudited, except year ended December 31, 2011, which is derived from our audited financial statements)

	Three Months Ended												Year Ended
	March 31,			June 30,			September 30,			December 31,			December 31,
	2011			2011			2011			2011			2011
Refined products:
Transportation and terminals revenue	$	156,128		$	172,362		$	176,767		$	174,978		$	680,235
Operating expenses	50,523			62,777			77,353			60,141			250,794
Transportation and terminals margin	105,605			109,585			99,414			114,837			429,441

Product sales revenues	235,867			158,978			202,608			251,449			848,902
Product purchases	210,846			118,385			159,222			215,860			704,313
Product margin	25,021			40,593			43,386			35,589			144,589
Operating margin	$	130,626		$	150,178		$	142,800		$	150,426		$	574,030

Crude oil:
Transportation and terminals revenue	$	11,847		$	13,627		$	17,243		$	18,488		$	61,205
Operating expenses ⁽¹⁾	(2,660		)	(420		)	(1,605		)	(213		)	(4,898		)
Transportation and terminals margin	14,507			14,047			18,848			18,701			66,103
Affiliate management fee revenue	193			192			193			192			770
Equity earnings	1,367			1,443			1,954			1,997			6,761
Other	74			—			162			355			591
Operating margin	$	16,141		$	15,682		$	21,157		$	21,245		$	74,225

Marine storage:
Transportation and terminals revenue	$	37,433		$	37,203		$	38,054		$	39,239		$	151,929
Operating expenses	15,174			19,734			14,456			14,074			63,438
Transportation and terminals margin	22,259			17,469			23,598			25,165			88,491

Product sales revenues	1,355			965			483			2,232			5,035
Product purchases	384			451			328			794			1,957
Product margin	971			514			155			1,438			3,078
Equity earnings	—			—			1			1			2
Operating margin	$	23,230		$	17,983		$	23,754		$	26,604		$	91,571

Segment operating margin	$	169,997		$	183,843		$	187,711		$	198,275		$	739,826
Add: Allocated corporate depreciation costs	676			768			746			729			2,919
Total operating margin	170,673			184,611			188,457			199,004			742,745
Less:
Depreciation and amortization	29,363			30,664			30,234			30,918			121,179
General and administrative expense	24,590			25,281			20,470			28,328			98,669
Total operating profit	$	116,720		$	128,666		$	137,753		$	139,758		$	522,897

(1) Product overages more than offset other operating expenses for this segment in these periods.

Exhibit 99.1



MAGELLAN MIDSTREAM PARTNERS, L.P.
OPERATING MARGIN RECONCILIATION TO OPERATING PROFIT
(in thousands)
(Unaudited, except year ended December 31, 2012, which is derived from our audited financial statements)

	Three Months Ended												Year Ended
	March 31,			June 30,			September 30,			December 31,			December 31,
	2012			2012			2012			2012			2012
Refined products:
Transportation and terminals revenue	$	157,670		$	187,262		$	193,880		$	185,023		$	723,835
Operating expenses	57,206			66,153			80,705			63,630			267,694
Transportation and terminals margin	100,464			121,109			113,175			121,393			456,141

Product sales revenues	272,818			199,840			66,776			250,682			790,116
Product purchases	247,836			143,962			84,041			177,590			653,429
Product margin (loss)	24,982			55,878			(17,265		)	73,092			136,687
Operating margin	$	125,446		$	176,987		$	95,910		$	194,485		$	592,828

Crude oil:
Transportation and terminals revenue	$	21,213		$	22,545		$	23,868		$	24,662		$	92,288
Operating expenses⁽¹⁾	(897		)	1,502			3,441			1,183			5,229
Transportation and terminals margin	22,110			21,043			20,427			23,479			87,059
Affiliate management fee revenue	199			198			199			1,138			1,734
Equity earnings (loss)	1,668			1,493			1,752			(2,339		)	2,574
Operating margin	$	23,977		$	22,734		$	22,378		$	22,278		$	91,367

Marine storage:
Transportation and terminals revenue	$	38,671		$	38,954		$	37,744		$	39,252		$	154,621
Operating expenses	12,877			15,341			19,824			10,444			58,486
Transportation and terminals margin	25,794			23,613			17,920			28,808			96,135

Product sales revenues	2,912			728			3,402			2,224			9,266
Product purchases	776			536			1,778			589			3,679
Product margin	2,136			192			1,624			1,635			5,587
Affiliate management fee revenue	—			—			—			214			214
Equity earnings (loss)	(20		)	(15		)	(3		)	425			387
Operating margin	$	27,910		$	23,790		$	19,541		$	31,082		$	102,323

Segment operating margin	$	177,333		$	223,511		$	137,829		$	247,845		$	786,518
Add: Allocated corporate depreciation costs	734			670			698			853			2,955
Total operating margin	178,067			224,181			138,527			248,698			789,473
Less:
Depreciation and amortization	31,510			31,486			31,692			33,324			128,012
General and administrative expense	23,744			25,414			27,551			32,694			109,403
Total operating profit	$	122,813		$	167,281		$	79,284		$	182,680		$	552,058

(1) Product overages more than offset other operating expenses for this segment in first quarter 2012.

Exhibit 99.1



MAGELLAN MIDSTREAM PARTNERS, L.P.
OPERATING STATISTICS

	Three Months Ended								Year Ended
	March 31,		June 30,		September 30,		December 31,		December 31,
	2009		2009		2009		2009		2009
Refined products:
Transportation revenue per barrel shipped	$	1.145	$	1.202	$	1.248	$	1.223	$	1.205

Volume shipped (million barrels):
Gasoline	41.0		42.5		43.7		42.7		169.9
Distillates	24.5		24.1		25.1		26.5		100.2
Aviation fuel	5.1		5.1		5.2		4.5		19.9
Liquefied petroleum gases	1.1		2.2		1.8		0.6		5.7
Total volume shipped	71.7		73.9		75.8		74.3		295.7

Crude oil:
Crude terminal average utilization (million barrels per month)	1.2		1.2		1.2		1.2		1.2

Marine storage:
Marine terminal average utilization (million barrels per month)	22.4		23.5		23.5		24.1		23.4



	Three Months Ended								Year Ended
	March 31,		June 30,		September 30,		December 31,		December 31,
	2010		2010		2010		2010		2010
Refined products:
Transportation revenue per barrel shipped	$	1.222	$	1.304	$	1.191	$	1.105	$	1.197

Volume shipped (million barrels):
Gasoline	39.3		42.8		53.2		59.0		194.3
Distillates	24.4		28.8		32.5		37.2		122.9
Aviation fuel	4.8		5.2		6.6		6.0		22.6
Liquefied petroleum gases	1.2		1.9		1.4		0.5		5.0
Total volume shipped	69.7		78.7		93.7		102.7		344.8

Crude oil:⁽¹⁾
Transportation revenue per barrel shipped	$	—	$	—	$	0.305	$	0.276	$	0.283

Volume shipped (million barrels)	—		—		3.9		10.8		14.7

Crude terminal average utilization (million barrels per month)	1.2		1.5		3.7		7.0		3.4

Marine storage:
Marine terminal average utilization (million barrels per month)	23.7		23.7		23.8		24.8		24.0

(1) We acquired crude oil storage and a crude oil pipeline in September 2010 and, other than our equity interest in Osage Pipeline, LLC, had no crude oil pipeline operations prior to that date.

Exhibit 99.1



MAGELLAN MIDSTREAM PARTNERS, L.P.
OPERATING STATISTICS

	Three Months Ended								Year Ended
	March 31,		June 30,		September 30,		December 31,		December 31,
	2011		2011		2011		2011		2011
Refined products:
Transportation revenue per barrel shipped	$	1.098	$	1.189	$	1.232	$	1.176	$	1.175

Volume shipped (million barrels):
Gasoline	52.4		52.3		48.4		55.8		208.9
Distillates	29.6		32.9		36.5		37.0		136.0
Aviation fuel	5.1		7.7		7.5		5.0		25.3
Liquefied petroleum gases	0.9		2.2		1.4		0.4		4.9
Total volume shipped	88.0		95.1		93.8		98.2		375.1

Crude oil:
Transportation revenue per barrel shipped	$	0.347	$	0.238	$	0.271	$	0.270	$	0.275

Volume shipped (million barrels)	7.0		10.2		12.6		13.4		43.2

Crude terminal average utilization (million barrels per month)	7.2		8.3		10.2		11.4		9.3

Marine storage:
Marine terminal average utilization (million barrels per month)	24.7		24.7		24.8		24.7		24.7



	Three Months Ended								Year Ended
	March 31,		June 30,		September 30,		December 31,		December 31,
	2012		2012		2012		2012		2012
Refined products:
Transportation revenue per barrel shipped	$	1.197	$	1.270	$	1.228	$	1.220	$	1.230

Volume shipped (million barrels):
Gasoline	45.9		56.1		61.8		59.9		223.7
Distillates	29.8		33.6		36.5		36.8		136.7
Aviation fuel	5.6		5.2		5.9		4.8		21.5
Liquefied petroleum gases	1.0		3.7		3.2		0.6		8.5
Total volume shipped	82.3		98.6		107.4		102.1		390.4

Crude oil:
Transportation revenue per barrel shipped	$	0.276	$	0.301	$	0.311	$	0.322	$	0.305

Volume shipped (million barrels)	14.9		17.2		19.3		20.6		72.0

Crude terminal average utilization (million barrels per month)	12.6		12.5		12.6		12.8		12.6

Marine storage:
Marine terminal average utilization (million barrels per month)	24.1		24.2		23.6		23.5		23.8

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Magellan Midstream Partners, L.P. - FORM 8-K - EX-99.1 - EXHIBIT - March 12, 2013

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