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PSXP - Phillips 66 Partners: The Effect Of IDR Elimination On Q3 Results
Phillips 66 Partners LP representing limited partner interest in the Partnership
Last week's Q3 EPS report was Phillips 66 Partners' (PSXP) first quarterly results since the elimination of IDR obligations up to general partner Phillips 66 (PSX). As can be seen from the graphic below, even though DCF grew by only $1 million sequentially as compared with Q2, distributions to PSX grew by $19 million. Some of that increase - an estimated $1.7 million - was due to the one penny increase in the quarterly distribution paid out to the 75% of outstanding units PSX now owns (~170 million units). But, of course, most