ENLINK MIDSTREAM, INC.

Delisted

CIK 0001209821Large AcceleratedWholesale-Petroleum & Petroleum Products (No Bulk Stations)DelawareFY ends Dec 31

Period

FY 2013

Revenue

—

Net Income

$-29.64M

Total Assets

$2.85B

Equity

$136.99M

Shares Out

48.02M

Op. Cash Flow

$87.84M

Business

ENLINK MIDSTREAM, INC. is a former operating company in Petroleum & Petroleum Products (No Bulk Stations), incorporated in Delaware. Securities are no longer actively traded on a major U.S. exchange.

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Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2013 2013-12-31	FY 2012 2012-12-31	FY 2011 2011-12-31	FY 2010 2010-12-31	FY 2009 2009-12-31
Midstream	1,944	1,791	2,014	1,793	—
Purchased gas, condensate, NGLs and crude oil	1,547	1,398	1,639	1,454	—
Operating expenses	151	131	112	105	110
General and administrative	80	65	56	51	62
(Gain) loss on sale of property	−1	−342,000	264,000	—	—
Loss on derivatives	2	1	8	9	−3
Impairments	73	0	0	1	3
Depreciation and amortization	140	162	125	112	119
Total operating costs and expenses	1,992	1,756	1,939	1,719	1,564
Operating income (loss)	−48	35	74	74	20
Interest expense, net of interest income	−77	−87	−79	−87	−95
Equity in income of limited liability company	46,000	3	0	0	—
Other income	2	5	707,000	294,000	1
Total other expense	−75	−78	−79	−101	—
Loss before non-controlling interest and income taxes	−123	−43	−4	−28	−78
Income Tax Benefit	10	7	3	6	6
Net loss	−113	−37	−1	−22	86
Less: Net income (loss) attributable to the noncontrolling interest	−83	−24	5	−10	70
Net loss attributable to Crosstex Energy, Inc.	−30	−12	−6	−12	16
Earnings Per Share, Basic	−0.6	−0.26	−0.12	−0.24	0.33
Earnings Per Share, Diluted	−0.6	−0.26	−0.12	−0.24	0.33
Weighted Average Number of Shares Outstanding, Basic	48	47	47	47	46
Weighted Average Number of Shares Outstanding, Diluted	48	47	47	47	47
Dividend paid per common share	0.49	0.47	0.37	0.07	0.09

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2013 2013-12-31	FY 2012 2012-12-31	FY 2011 2011-12-31	FY 2010 2010-12-31	FY 2009 2009-12-31
Cash and cash equivalents	2	3	30	23	11
Trade, net of allowance for bad debts of $629 and $535 respectively	74	64	23	16	—
Accrued revenues	209	151	140	191	—
Imbalances	4	2	2	3	—
Other	7	4	2	135,000	—
Fair value of derivative assets	302,000	3	3	6	—
Natural gas and natural gas liquids inventory, prepaid expenses and other	18	12	10	—	—
Assets held for disposition	0	23	0	—	—
Total current assets	314	260	209	248	—
Transmission assets	769	397	385	384	—
Gathering systems	729	724	656	623	—
Gas processing plants	614	586	494	462	—
Other property and equipment	131	88	58	56	—
Construction in process	297	181	55	21	—
Total property and equipment	2,542	1,977	1,650	1,546	—
Accumulated depreciation	−604	−504	−407	−330	—
Total property and equipment, net	1,938	1,472	1,243	1,216	—
Intangible assets, net of accumulated amortization of $227,883 and $263,305, respectively	316	425	451	499	—
Goodwill	154	153	0	—	—
Fair Value of derivative assets	556,000	0	—	—	—
Investment in limited liability company	104	91	35	0	—
Other assets, net	23	26	—	—	—
Total assets	2,849	2,426	1,963	1,991	—
Drafts payable	13	4	6	151,000	—
Accounts payable	18	26	14	16	—
Accrued gas, condensate and crude oil purchases	201	140	106	161	—
Accrued imbalances payable	5	2	2	2	—
Accrued Capital Expenditures	31	23	—	—	—
Fair value of derivative liabilities	1	1	6	8	—
Accrued interest	27	27	25	25	—
Liabilities held for disposition	0	4	0	—	—
Other Liabilities, Current	41	—	—	—	—
Other current liabilities	—	48	67	42	—
Total current liabilities	338	276	226	261	—
Long-term debt	1,200	1,036	798	712	—
Other long-term liabilities	27	30	24	—	—
Deferred Tax Liability	129	134	85	89	—
Fair value of derivatives liabilities	755,000	0	—	—	—
Common Stock (150,000,000 shares authorized, $.01 par value, 47,756,973 and 47,413,789 issued and outstanding in 2013 and 2012, respectively)	476,000	473,000	471,000	468,000	—
Additional Paid in Capital	308	275	244	242	—
Accumulated Deficit	−171	−118	−82	−58	—
Accumulated other comprehensive income (loss)	−58,000	141,000	−85,000	−145,000	—
Total Crosstex Energy, Inc. stockholders' equity	137	158	162	184	—
Interest of non-controlling partners in the Partnership	1,017	793	667	717	—
Total stockholders' equity	1,154	950	829	901	816
Total liabilities and stockholders' equity	2,849	2,426	1,963	1,991	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2013 2013-12-31	FY 2012 2012-12-31	FY 2011 2011-12-31	FY 2010 2010-12-31	FY 2009 2009-12-31
(Gain) loss on sale of property and other assets	−1	−3	264,000	—	—
Deferred tax (benefit) expense	−18	−8	−5	−8	15
Loss on derivatives recognized in net loss	2	1	8	—	—
Cash Settlements On Derivative Financial Instruments	633,000	5	7	—	—
Interest paid-in-kind	2	0	0	—	—
Amortization of debt issue costs	6	5	6	7	12
Amortization of discount on notes	2	2	2	2	0
Distributions of earnings from limited liability company	3	0	0	—	—
Accounts receivable, accrued revenue and other	−75	−39	44	5	128
Natural gas and natural gas liquids, prepaid expenses and other	−3	−4	−2	2	—
Accounts payable, accrued gas and crude oil purchases and other accrued liabilities	55	20	−38	19	−131
Net cash provided by operating activities	88	100	141	85	79
Additions to property and equipment	−561	−235	−98	−48	−101
Acquisitions of business	0	−215	0	0	−35
Proceeds from sale of property	19	12	478,000	60	504
Investment in limited liability company	−31	−52	−35	0	0
Distribution from limited liability company in excess of earnings	14	0	0	—	—
Net cash provided by (used in) investing activities	−558	−490	−132	15	380
Proceeds from borrowings	558	807	471	997	633
Payments on borrowings	−398	−571	−393	−1,145	−1,050
Payments on capital lease obligations	−3	−3	−3	−2	−2
Increase (decrease) in drafts payable	9	−2	6	−5	−16
Debt refinancing costs	−4	−7	−4	−29	−15
Distributions to non-controlling interest in the Partnership	−91	−70	−58	−19	−8
Contribution from Noncontrolling Interests	5	0	0	—	—
Common dividends paid	−24	−23	−18	—	—
Conversion of restricted units, net of units withheld for taxes	−2	−1	−2	−3	—
Conversion of restricted stock, net of shares withheld for taxes	−2	−794,000	−1	−705,000	−354,000
Proceeds from exercise of share options	146,000	0	0	—	—
Proceeds from issuance of partnership units	419	233	0	—	—
Proceeds from exercise of partnerhip unit options	835,000	436,000	591,000	890,000	67,000
Net cash provided by (used in) financing activities	469	362	−2	−87	−462
Net increase (decrease) in cash and cash equivalents	−1	−27	8	12	−3
Cash paid for interest	89	81	72	66	91
Cash paid for income taxes	9	2	1	−33,000	926,000

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