Shell Midstream Partners LP (NYSE:SHLX) Total Inventories

: $30.0 Mil (As of Jun. 2022)

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Shell Midstream Partners LP's total inventories for the quarter that ended in Jun. 2022 was $30.0 Mil. Shell Midstream Partners LP's average total inventories from the quarter that ended in Mar. 2022 to the quarter that ended in Jun. 2022 was $28.5 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Shell Midstream Partners LP's Net-Net Working Capital per share for the quarter that ended in Jun. 2022 was $-5.84.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Shell Midstream Partners LP's Days Inventory for the three months ended in Jun. 2022 was 96.32.

Inventory Turnover measures how fast the company turns over its inventory within a year. Shell Midstream Partners LP's Inventory Turnover for the quarter that ended in Jun. 2022 was 0.95.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Shell Midstream Partners LP's Inventory-to-Revenue for the quarter that ended in Jun. 2022 was 0.19.

Shell Midstream Partners LP Total Inventories Historical Data

The historical data trend for Shell Midstream Partners LP's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Shell Midstream Partners LP Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Total Inventories

12.40

13.00

12.00

9.00

22.00

Shell Midstream Partners LP Quarterly Data
	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22
Total Inventories																18.00	18.00	22.00	27.00	30.00

Shell Midstream Partners LP Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Shell Midstream Partners LP (NYSE:SHLX) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Shell Midstream Partners LP's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2022 is

	Net-Net Working Capital Per Share (Q: Jun. 2022 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(325	+	0.75 * 51	+	0.5 * 30	-	2672
-	0	-	2)	/	393.29
=	-5.84

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Shell Midstream Partners LP's Days Inventory for the three months ended in Jun. 2022 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2022 )	/	Cost of Goods Sold (Q: Jun. 2022 )	*	Days in Period
	=	28.5	/	27	*	365 / 4
	=	96.32

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Shell Midstream Partners LP's Inventory Turnover for the quarter that ended in Jun. 2022 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Jun. 2022 )	/	Average Total Inventories (Q: Jun. 2022 )
	=	27	/	28.5
	=	0.95

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Shell Midstream Partners LP's Inventory to Revenue for the quarter that ended in Jun. 2022 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2022 )	/	Revenue (Q: Jun. 2022 )
	=	28.5	/	149
	=	0.19

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Shell Midstream Partners LP Total Inventories Related Terms

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Shell Midstream Partners LP (NYSE:SHLX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Shell Midstream Partners LP (NYSE:SHLX) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

N/A

Address

150 North Dairy Ashford Road, A0482-A, Houston, TX, USA, 77079

Website

http://www.shellmidstreampartners.com

Shell Midstream Partners LP is a US-based limited partnership that is formed to own, operate, develop and acquire pipelines and other midstream assets. The company holds an interest in several entities which own crude oil, refined products and natural gas pipelines, and crude tank storage and terminal system. It provides a transportation and storage facility to deliver refined products from Gulf Coast markets to demand centers. The company earns revenue through the long-term transportation agreements by charging fees for the transportation of crude oil and refined products through its pipelines.

Executives

Sopc Holdings West Llc	10 percent owner	150 N. DAIRY ASHFORD RD., HOUSTON TX 77079
Fierro A Carlos	director	910 LOUISIANA STREET, HOUSTON TX 77002
Gregory T. Mouras	officer: Vice President, Operations	P.O. BOX 61933, NEW ORLEANS LA 70161
Cynthia V. Hablinski	director	150 N. DAIRY ASHFORD, HOUSTON TX 77079
Sean Guillory	officer: Vice President, Commercial	150 N. DAIRY ASHFORD, HOUSTON TX 77079
David A. Connolly	director	1000 MAIN STREET, LEVEL 12, HOUSTON TX 77002
Stanley Jesse C. H.	officer: Vice President, Operations	150 N. DAIRY ASHFORD, HOUSTON TX 77079
Anne C. Anderson	director	150 N. DAIRY ASHFORD, HOUSTON TX 77079
James J Bender	director	1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Nick Arzymanow	officer: Controller	150 N. DAIRY ASHFORD, HOUSTON TX 77079
Brenda Stout	director	150 N. DAIRY ASHFORD ROAD, HOUSTON TX 77079
Curtis R Frasier	director	910 LOUISIANA STREET, HOUSTON TX 77002
Steven Ledbetter	officer: Vice President - Commercial	150 N. DAIRY ASHFORD ROAD, HOUSTON TX 77079
Marcel Teunissen	director	150 N. DAIRY ASHFORD ROAD, HOUSTON TX 77079
Elaine Mccown	officer: Controller	ONE SHELL PLAZA, 910 LOUISIANA STREET, HOUSTON TX 77002