This financial stuff looks really, really excellent to me. I am especially impressed with the 83% payout ratio which still allows the truly huge divey:

Distributable Cash

26

HIGHER DISTRIBUTABLE CASH

REDUCES PAYOUT RATIO TO 83%

US$ Millions unless otherwise noted LTM September 30, 2012

Pro-Forma Adjusted EBITDA $61.3

Amounts attributable to ResCom for period prior to acquisition 2.1

EDI savings 1.6

Financing costs (4.3)

Administrative expenses (2.1)

Maintenance capex (0.8)

Income taxes paid in cash (5.7)

Distributable Cash (at Crius Energy, LLC) 52.1

Cash Distributions (at Crius Energy, LLC) at an 83% Payout Ratio 43.1

Amount attributable to non-controlling company interest (31.5)

Distributable Cash for US Holdco (26.8%) 11.6

Taxes paid at US Holdco level (1.6)

Cash Distributions 10.0

Cash Distributions for unit holders of the Trust (C$) $10.0

Comments please,

Doc