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Essay / Research Paper Abstract
This 3-page paper is a financial analysis of Buckeye Partners and its financial and income statements.
Page Count:
3 pages (~225 words per page)
File: D0_MTbuckey.rtf
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Unformatted sample text from the term paper:
partnership (versus a corporation). We will, however, also include items that would be of interest to any business owner. The information obtained is from a 10K filing on Edgars from
the SEC (http://www.sec.gov/Archives/edgar/data/805022/000089322005000552/w06658e10vk.htm) The LP Units of the partnership, by the way, are listed and traded, for the most part, on the
New York Stock Exchange. In terms of the income data for the partnership, in 2004, the revenue was valued at $323 million
(up from $272.9 million from the year before). What is going to be of interest, however, in a partnership on the balance sheet is long-term debt, General Partners capital and
Limited Partners capital. In 2004, the long-term debt was at $797.2 million (an increase from $448 million from the year before); while the capital from the General Partners had a
very moderate increase ($2.549 million in 2004, an increase from $2.514 the year before). The interesting figure to note on the balance sheet data, however, is the increase in the
capital from the Limited Partners from $376.1 million in 2003 to $603.4 million in 2004. This, combined with the long-term debt, has suggested that the Limited Partners were either tapped
for loans themselves (assuming that the partners themselves are some type of financial institution) or that the Limited Partners put up the collateral to obtain more debt. While the income
increase is definitely a boon, the increase in long-term debt is something that can be considered a little bit of a concern.
Another aspect to be considered is the results of operations -- again, while revenue from operations had increased to $323.5 million from $272.9 million from 2003, the operating incomde had
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