FERC Form

INSTRUCTIONS FOR FILING FERC FORMS 6 AND 6-Q GENERAL INFORMATION

Purpose
The FERC Form No. 6 (FERC Form 6) is an annual regulatory reporting requirement (18 C.F.R. 357.2). The FERC Form No. 6-Q (FERC Form 6-Q) is a quarterly regulatory reporting requirement (18 C.F.R. §357.4). These reports are designed to collect both financial and operational informational from oil pipeline companies subject to the jurisdiction of the Federal Energy Regulatory Commission. These reports are also considered to be non-confidential public use forms.
Who Must File
1. Each oil pipeline carrier whose annual jurisdictional operating revenues has been $500,000 or more for each of the three previous calendar years must file FERC Form 6 (18 C.F.R. § 357.2 (a)). Oil pipeline carriers submitting FERC Form 6 must submit FERC Form 6-Q (18 C.F.R. § 357.4(a)). Newly established entities must use projected data to determine whether FERC Form No. 6 must be filed.
2. Oil pipeline carriers exempt from filing FERC Form 6 whose annual jurisdictional operating revenues have been more than $350,000 but less than $500,000 for each of the three previous calendar years must prepare and file page 301, “Operating Revenue Accounts (Account 600), and page 700, “Annual cost of Service Based Analysis Schedule,” of FERC Form 6. When submitting pages 301 and 700, each exempt oil pipeline carrier must include page 1 of the FERC Form 6, the Identification and Attestation schedules (18 C.F.R. § 357.2 (a)(2)).
3. Oil pipeline carriers exempt from filing FERC Form 6 and pages 301 and whose annual jurisdictional operating revenues were $350,000 or less for each of the three previous calendar years must prepare and file page 700, “Annual Cost of Service Based Analysis Schedule,” of FERC Form 6. When submitting page 700, each exempt oil pipeline carrier must include page 1 of FERC Form 6, the Identification and Attestation schedule (18 C.F.R. § 357.2 (a)(3)).
What and Where to Submit
1. Submit FERC Form 6 and 6-Q electronically through the forms submission software available at http://www.ferc.gov/docs-filing/eforms/form-6/elec-subm-soft.asp. Retain one copy of this report for your files.
2. The Corporate Officer Certification must be submitted electronically as part of FERC Form 6 and 6-Q filings.
3. Indicate by checking the appropriate box on Page 3, List of Schedules, if the Annual Report to Stockholders will be submitted, or if no Annual Report to Stockholders has been prepared.
4. Submit immediately upon publication, by either eFiling or mail, two (2) copies of the latest Annual Report to Stockholders to the Secretary of the Commission at:
  
  Secretary of the Commission
  Federal Energy Regulatory Commission
  888 First Street, NE
  Washington, DC 20426
5. Filers are encouraged to file their Annual Report to Stockholders using eFiling at http://www.ferc.gov/docs-filing/efiling.asp.To further that effort, a new selection, “Annual Report to Stockholders,” has been added to the dropdown “pick list” from which companies must choose when eFiling. Further instructions are posted to the Commission’s website at http://www.ferc.gov/help/how-to.asp.
6. Federal, State and Local Governments and other authorized users may obtain additional blank copies of FERC Forms 6 and 6-Q free of charge from http://www.ferc.gov/docs-filing/eforms.asp#6 and http://www.ferc.gov/docs-filing/eforms.asp#6Q.
When to Submit
FERC Forms must be filed by the following schedule:
1. FERC Form 6 for each year ending December 31 must be filed by April 18th of the following year (18C.F.R. § 357.2), and
2. FERC Form 6-Q for each calendar quarter must be filed within 70 days after the end of the reporting quarter (18 C.F.R. § 357.4).
Where to Send Comments on Public Reporting Burden
1. The public reporting burden for the FERC Form 6 is estimated to average 161 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. The public reporting burden for the FERC Form 6-Q is estimated to average 150 hours per response. Send comments regarding these burden estimates or any aspect of these information collections, including suggestions for reducing this burden, to the Federal Energy Regulatory Commission, at DataClearance@FERC.gov, or to 888 First Street, NE, Washington DC 20426 (Attention: Information Clearance Officer); and to the Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, DC 20503 (Attention: Desk Officer for the Federal Energy Regulatory Commission). For security reasons, comments should be sent by e-mail to OMB at oira_submission@omb.eop.gov.
2. You shall not be penalized for failure to respond to this collection of information unless the collection of information displays a valid OMB control number.

GENERAL INSTRUCTIONS

Prepare this report in conformity with the Uniform System of Accounts (18 CFR Part 101) (USofA). Interpret all accounting words and phrases in accordance with the USofA.
Enter in whole numbers (dollars or MWH) only, except where otherwise noted. (Enter cents for averages and figures per unit where cents are important. The truncating of cents is allowed except on the four basic financial statements where rounding is required.) The amounts shown on all supporting pages must agree with the amounts entered on the statements that they support. When applying thresholds to determine significance for reporting purposes, use for balance sheet accounts the balances at the end of the current reporting period, and use for statement of income accounts the current year's year to date amounts.
Complete each question fully and accurately, even if it has been answered in a previous period. Enter the word "None" where it truly and completely states the fact.
For any page(s) that is not applicable to the Filer, either Enter the words “Not Applicable” on the particular page(s), or Omit the page(s) and enter “NA”, “None”, or “Not Applicable” in column (d) on the List of Schedules, pages 2 and 3.
Enter the month, day, and year for all dates. Use customary abbreviations. The "Date of Report" at the top of each page is applicable only to resubmissions.
Generally, except for certain schedules, all numbers, whether they are expected to be debits or credits, must be reported in the positive. Numbers having a sign that is different from the expected sign should be entered with a negative (-) sign.
Resubmit any revised FERC Form 6 data via the Internet using the forms submission software only. Please explain the reason for the resubmission in a footnote to the data field.
Do not make references to reports of previous periods or to other reports in lieu of required entries, except as specifically authorized.
Whenever (schedule) pages refer to figures from a previous period the figures reported must be based upon those shown by the report of the previous period or an appropriate explanation given as to why different figures were used.

DEFINITIONS

Active Corporation - A corporation which maintains an organization for operating property or administering its financial affairs.
Actually Issued - For the purposes of this report, capital stock and other securities are considered to be actually issued when sold to a bona fide purchaser for a valuable consideration, and such purchaser holds free from control by the respondent.
Actually Outstanding - For the purposes of this report, capital stock and other securities actually issued and not reacquired by or for the respondent.
Affiliated Companies - The situation where one company directly or indirectly controls the other, or where they are subject to a common control.
Carrier - A common carrier by pipeline subject to the Interstate Commerce Act.
Commission - Means the Federal Energy Regulatory Commission.
Control (including the terms "controlling," "controlled by," and "under common control with") -
1. The possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a company, whether such power is exercised through one or more intermediary companies, or alone, or in conjunction with, or pursuant to an agreement. Also, it is necessary whether such power is established through a majority or minority ownership or voting of securities, common directors, officers or stockholders, voting trusts, holding trusts, associated companies, contract or any other direct or indirect means. When there is doubt about an existence of control in any particular situation, the carrier shall report all pertinent facts to the Commission for determination. (18 CFR 352, Definition 10.)
2. For the purposes of this report, the following are to be considered forms of control:
  1. Right through title to securities issued or assumed to exercise the major part of the voting power in the controlled company;
  2. Right through agreement of through sources other than title to securities to name the majority of the board of directors, managers, or trustees of the controlled company;
  3. Right to foreclose a priority lien upon all or a major part in value of the tangible property of the controlled company;
  4. Right to secure control in consequence of advances made for construction of the property of the controlled company. Indirect control is that exercised through an intermediary.
3. A leasehold interest in the property of a company is not for the purpose of these accounts to be classed as a form of control over the lessor company.
Crude Oil - Oil in its natural state (including natural gas and other similar natural constituents), not altered, refined, or prepared for use by any process.
Inactive Corporation - A corporation which has been practically absorbed in a controlling corporation, and which neither operates property nor administers its financial affairs; if it maintains an organization it does so only for the purpose of complying with legal requirements and maintaining title to property or franchises.
Nominally Issued - For the purposes of this report, capital stock and other securities are considered to be nominally issued when certificates are signed and sealed and placed with the proper officer for sale and delivery or are pledged or otherwise placed in some special fund of the respondent.
Nominally Outstanding - For the purposes of this report, those capital stock and other securities reacquired by or for the respondent under such circumstances require them to be considered held alive and not canceled or retired.
Products - Oils that have been refined, altered, or processed for use, such as fuel oil and gasoline.
Undivided Joint Interest Pipeline - Physical pipeline property owned in undivided joint interest by more than one person/entity.
Undivided Joint Interest Property - Carrier property owned as part of an undivided joint interest pipeline.

EXCERPTS FROM THE LAW

Interstate Commerce Act, Part I

Section 20

The Commissions is hereby authorized to require annual,periodical, or special reports from carriers, Lessons, "^^(as defined in this section),to prescribe the manner and form in which such reports shall be made, and to require from such carrioers, lessors, "^^specific and full true, and correct anwsers to all questions upon which the Commission may deem information to be necessary, classify such carrier, lessors, "^^ as it may deem proper for any of these purposes. Such annual reports shall give an account of the affairs of the carrier, lessor, "^^ in such form and detail as may be prescribed by the Commission.
Said annual reports shall contain all the required information for the period of twelve months ending on the 31st day of December in each year, unless the Commission shall specify a different date, and shall be made out under oath and filled with the Commission at its office in Washington within three months after the close of the year for which report is made, unless additional time be granted in any case by the Commission.

GENERAL PENALTIES

Section 20

(7)(b) Any person who shall knowingly and willfully make, cause to be made, or participate in the making of any false entry in any annual or other report required under this section to be filled, "^^ or shall knowingly or willfully file with the Commission any false report, or other document, shall be deemed guilty of a misdemeanor and shall be subject, upon conviction in any court of the United States of competent jurisdiction to a fine of not more than five thousand dollars or imprisonment for not more than two years, or both such fine and imprisonment."^^

(7)(c) Any carrier or lessor, or any officer, agent, employee, or representative thereof, who shall fail to make and file an annual or other report with the Commission within the time fixed by the COmmission, or to make specific and full true and correct answer to any questions within thirty days from the time it is lawfully required by the Commission so to do, shall forfeit to the United States the sum of one hundred dollars for each and every day it shall continue to be in default with respect thereto.

FERC FORM NO. 6-Q REPORT OF OIL PIPELINE COMPANIES
IDENTIFICATION
01 Exact Legal Name of Respondent Tallgrass Pony Express Pipeline, LLC		02 Year/ Period of Report End of: 2021 / Q1
03 Previous Name and Date of Change (if name changed during year) /
04 Address of Principal Office at End of Year (Street, City, State, Zip Code) 370 Van Gordon St., Lakewood, CO 80228
05 Name of Contact Person Adam Renfro		06 Title of Contact Person Director Financial Reporting
07 Address of Contact Person (Street, City, State, Zip Code) 370 Van Gordon St., Lakewood, CO 80228
08 Telephone of Contact Person, Including Area Code 303-763-3432	09 This Report is (1) ☑ An Original (2) ☐ A Resubmission	10 Date of Report (Mo, Da, Yr)
QUARTERLY CORPORATE OFFICER CERTIFICATION
The undersigned officer certifies that: I have examined this report and to the best of my knowledge, information, and belief all statements of fact contained in this report are correct statements of the business affairs of the respondent and the financial statements, and other financial information contained in this report, conform in all material respects to the Uniform System of Accounts.
01 Name Juliett R. Mensing	02 Title VP and CAO of Operator
03 Signature /s/ Juliett R. Mensing	04 Date Signed (Mo, Da, Yr) 06/04/2021
Title 18, U.S.C. 1001 makes it a crime for any person to knowingly and willingly to make to any Agency or Department of the United States any false, fictitious or fraudulent statements as to any matter within its jurisdiction.

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

List of Schedules
Enter in column (d) the terms "none," "not applicable," or "NA," as appropriate, where no information or amounts have been reported for certain pages.
Title of Schedule (a)	Reference Page No. (b)	Date Revised (c)	Remarks (d)
ScheduleImportantChangesDuringTheYearAbstract Important Changes During the Year		REV 12-95
ScheduleComparativeBalanceSheetAbstract Comparative Balance Sheet Statement	110	REV 12-03
ScheduleStatementOfIncomeAbstract Income Statement	114	REV 12-03
ScheduleStatementOfAccumulatedOtherComprehensiveIncomeAndHedgingActivitiesAbstract Statement of Accumulated Other Comprehensive Income and Hedging Activities	116	NEW 12-02
ScheduleUnappropriatedRetainedIncomeStatementAbstract Unappropriated Retained Income Statement	119	REV 12-95
ScheduleStatementOfCashFlowsAbstract Statement of Cash Flows	120	REV 02-04
ScheduleNotesToFinancialStatementsAbstract Notes to Financial Statements	122	REV 12-95
ScheduleOilOperatingRevenuesAbstract Operating Revenue	300	NEW. 06-04
ScheduleOperatingRevenueAccountsAbstract Operating Revenue Accounts	301	REV 12-00
ScheduleOperatingExpenseAccountsAbstract Operating Expense Accounts	302	REV 12-03
ScheduleStatisticsOfOperationsAbstract Statistics of Operations	600	REV 12-00
ScheduleStatisticsOfOperationsOwnedByRespondentButOperatedByOthersAbstract Statistics of Operations - Operated by Others	600a	REV 12-00
Stockholders' Reports (check appropriate box) Two copies will be submitted

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

Important Changes During the Quarter/Year

Give particulars (details) concerning the matters indicated below. Make the statements explicit and precise, and number these in accordance with the inquiries. Each inquiry should be answered. Enter “none” or “not applicable” where applicable. If information which answers an inquiry is given elsewhere in the report, make a reference to the schedule in which it appears.

Changes and important additions to franchise rights: Describe the actual consideration given therefor and state from whom the franchise rights were acquired. State if no consideration was given.
Acquisition of ownership in other carrier operations by reorganization, merger, or consolidation with other companies: Give names of companies involved, particulars concerning the transactions, and reference to dates of Commission authorization and journal entries filed if applicable.
Important extension or reduction of carrier pipeline operations: State territory added or relinquished and date operations began or ceased and give reference to Commission authorization, if any was required.
State briefly the status of any materially important legal proceedings pending at the end of the year, and the results of any such proceedings culminated during the year.
If the important changes during the year relating to the respondent appearing in the annual report to the stockholders are applicable and furnish the data required by the above instructions, such notes may be included herein.

1. None

2. None

3. None

4. None

5. None

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

Comparative Balance Sheet Statement
For instructions covering this schedule, see the text and instructions pertaining to Balance Sheet Accounts in the USofA. The entries in this balance sheet should be consistent with those in the supporting schedules on the pages indicated. On line 30, include depreciation applicable to investment in system property.
Line No.	Item (a)	Reference Page No. for Annual (b)	Current Year End of Quarter/Year Balance (in dollars) (c)	Prior Year End Balance 12/31 (in dollars) (d)
	CurrentAssetsAbstract CURRENT ASSETS
1	Cash Cash (10)
2	SpecialDeposits Special Deposits (10-5)
3	TemporaryInvestments Temporary Investments (11)
4	NotesReceivable Notes Receivable (12)
5	ReceivablesFromAffiliatedCompanies Receivables from Affiliated Companies (13)	200	521,042
6	AccountsReceivable Accounts Receivable (14)		23,002,298	24,060,271
7	AccumulatedProvisionForUncollectibleAccounts Accumulated Provision For Uncollectible Accounts (14-5)
8	InterestAndDividendsReceivable Interest and Dividends Receivable (15)
9	OilInventory Oil Inventory (16)		5,118,065	6,037,501
10	MaterialAndSupplies Material and Supplies (17)		4,018,447	3,822,020
11	Prepayments Prepayment (18)		662,220	609,635
12	OtherCurrentAssets Other Current Assets (19)
13	DeferredIncomeTaxAssets Deferred Income Tax Assets (19-5)	230
14	CurrentAssets TOTAL Current Assets (Total of lines 1 thru 13)		33,322,072	34,529,427
	InvestmentsAndSpecialFundsAbstract INVESTMENTS AND SPECIAL FUNDS
	InvestmentsInAffiliatedCompaniesAbstract Investments in Affiliated Companies (20):
15	InvestmentsInAffiliatedCompaniesStocks Stocks	202
16	InvestmentInAffiliatedCompaniesBonds Bonds	202
17	InvestmentsInAffiliatedCompaniesOtherSecuredObligations Other Secured Obligations	202
18	InvestmentsInAffiliatedCompaniesUnsecuredNotes Unsecured Notes	202
19	InvestmentsInAffiliatedCompaniesInvestmentAdvances Investment Advances	202
20	InvestmentsInAffiliatedCompaniesUndistributedEarningsFromCertainInvestments Undistributed Earnings from Certain Invest. in Acct. 20	204
	OtherInvestmentsAbstract Other Investments (21):
21	OtherInvestmentsStocks Stocks
22	OtherInvestmentsBonds Bonds
23	OtherInvestmentsOtherSecuredObligations Other Secured Obligations
24	OtherInvestmentsUnsecuredNotes Unsecured Notes
25	OtherInvestmentsInvestmentAdvances Investment Advances
26	SinkingAndOtherFunds Sinking and other funds (22)
27	InvestmentsAndSpecialFunds TOTAL Investment and Special Funds (Total lines 15 thru 26)
	TangiblePropertyAbstract TANGIBLE PROPERTY
28	CarrierProperty Carrier Property (30)	213 & 215	1,699,162,042	1,697,355,338
29	AccruedDepreciationCarrierProperty (Less) Accrued Depreciation-Carrier Property (31)	216 & 217	366,758,040	351,557,874
30	AccruedAmortizationCarrierProperty (Less) Accrued Amortization-Carrier Property (32)
31	CarrierPropertyNet Net Carrier Property (Line 28 less 29 and 30)		1,332,404,002	1,345,797,464
32	OperatingOilSupply Operating Oil Supply (33)
33	NoncarrierProperty Noncarrier Property (34)	220
34	AccruedDepreciationNoncarrierProperty (Less) Accrued Depreciation-Noncarrier Property (35)
35	NoncarrierPropertyNet Net Noncarrier Property (Line 33 less 34)
36	TangibleProperty TOTAL Tangible Property (Total of lines 31, 32, and 35)		1,332,404,002	1,345,797,464
	OtherAssetsAndDeferredChargesAbstract OTHER ASSETS AND DEFERRED CHARGES
37	OrganizationCostsAndOtherIntangibles Organization Costs and Other Intangibles (40)
38	AccruedAmortizationOfIntangibles (Less) Accrued Amortization of Intangibles (41)
40	MiscellaneousOtherAssets Miscellaneous Other Assets (43)
41	OtherDeferredCharges Other Deferred Charges (44)	221	1,810,633	1,960,447
42	AccumulatedDeferredIncomeTaxAssets Accumulated Deferred Income Tax Assets (45)	230
43	DerivativeInstrumentAssets Derivative Instrument Assets (46)
44	DerivativeInstrumentAssetsHedges Derivative Instrument Assets - Hedges (47)
45	OtherAssetsAndDeferredCharges TOTAL Other Assets and Deferred Charges (37 thru 44)		1,810,633	1,960,447
46	Assets TOTAL Assets (Total of lines 14, 27, 36 and 45)		1,367,536,707	1,382,287,338
	CurrentLiabilitiesAbstract CURRENT LIABILITIES
47	NotesPayable Notes Payable (50)
48	PayablesToAffiliatedCompanies Payables to Affiliated Companies (51)	225		2,053,339
49	AccountsPayable Accounts Payable (52)		6,547,209	12,554,731
50	SalariesAndWagesPayable Salaries and Wages Payable (53)
51	InterestPayable Interest Payable (54)
52	DividendsPayable Dividends Payable (55)
53	TaxesPayable Taxes Payable (56)		18,741,938	17,140,689
54	LongTermDebtPayableWithinOneYear Long-Term Debt - Payable Within One Year (57)	226
55	OtherCurrentLiabilities Other Current Liabilities (58)		64,053,445	68,571,294
56	DeferredIncomeTaxLiabilities Deferred Income Tax Liabilities (59)	230
57	CurrentLiabilities TOTAL Current Liabilities (Total of lines 47 thru 56)		89,342,592	100,320,053
	NoncurrentLiabilitiesAbstract NONCURRENT LIABILITIES
58	LongTermDebtPayableAfterOneYear Long-Term Debt - Payable After One Year (60)	226
59	UnamortizedPremiumOnLongTermDebt Unamortized Premium on Long-Term Debt (61)
60	UnamortizedDiscountOnLongTermDebtDebit (Less) Unamortized Discount and Interest on Long-Term Debt (62)
61	OtherNoncurrentLiabilities Other Noncurrent Liabilities (63)		4,336,911	3,990,300
62	AccumulatedDeferredIncomeTaxLiabilities Accumulated Deferred Income Tax Liabilities (64)	230
63	DerivativeInstrumentLiabilities Derivative Instrument Liabilities (65)
64	DerivativeInstrumentLiabilitiesHedges Derivative Instrument Liabilities - Hedges (66)
65	AssetRetirementObligations Asset Retirement Obligations (67)
66	NoncurrentLiabilities TOTAL Noncurrent Liabilities (Total of lines 58 thru 65)		4,336,911	3,990,300
67	Liabilities TOTAL Liabilities (Total of lines 57 and 66)		93,679,503	104,310,353
	StockholdersEquityAbstract STOCKHOLDERS' EQUITY
68	CapitalStock Capital Stock (70)	251
69	PremiumsOnCapitalStock Premiums on Capital Stock (71)
70	CapitalStockSubscriptions Capital Stock Subscriptions (72)
71	AdditionalPaidInCapital Additional Paid-In Capital (73)	254	94,294,004	49,790,409
72	AppropriatedRetainedIncome Appropriated Retained Income (74)	118
73	UnappropriatedRetainedIncomeAndEquityInUndistributedEarningsLossesOfAffiliatedCompany Unappropriated Retained Income (75)	119	1,368,151,208	1,327,767,394
74	TreasuryStock (Less) Treasury Stock (76)
75	AccumulatedOtherComprehensiveIncome Accumulated Other Comprehensive Income (77)	116
76	StockholdersEquity TOTAL Stockholders' Equity (Total of lines 68 thru 75)		1,273,857,204	1,277,976,985
77	LiabilitiesAndStockholdersEquity TOTAL Liabilities and Stockholders' Equity (Total of lines 67 and 76)		1,367,536,707	1,382,287,338

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

Income Statement
Enter in column (c) the year to date operations for the period, and enter in column (d) the year to date operations for the same period of the prior year. Enter in column (e) the operations for the reporting quarter and enter in column (f) the operations for the same three month period for the prior year. Do not report Annual data in columns (e) and (f).
Line No.	Item (a)	Reference Page No. in Annual Report (b)	Total current year to date Balance for Quarter/Year (c)	Total prior year to date Balance for Quarter/Year (d)	Current 3 months ended Quarterly only no 4th Quarter (e)	Prior 3 months ended Quarterly only no 4th Quarter (f)
	OrdinaryItemsCarrierOperatingIncomeAbstract ORDINARY ITEMS - Carrier Operating Income
1	OperatingRevenues Operating Revenues (600)	301	95,095,340	114,227,179	95,095,340	114,227,179
2	OperatingExpenses (Less) Operating Expenses (610)	302	54,711,526	54,740,754	54,711,526	54,740,754
3	NetCarrierOperatingIncome Net Carrier Operating Income		40,383,814	59,486,425	40,383,814	59,486,425
	OtherIncomeAndDeductionsAbstract Other Income and Deductions
4	IncomeNetFromNoncarrierProperty Income (Net) from Noncarrier Property (620)	335
5	InterestAndDividendIncome Interest and Dividend Income (From Investment under Cost Only) (630)	336
6	MiscellaneousIncome Miscellaneous Income (640)	337
7	UnusualOrInfrequentItemsCredit Unusual or Infrequent Items--Credits (645)
8	InterestExpense (Less) Interest Expense (650)
9	MiscellaneousIncomeCharges (Less) Miscellaneous Income Charges (660)	337
10	UnusualOrInfrequentItemsDebit (Less) Unusual or Infrequent Items--Debit (665)
11	DividendIncomeEquityInvestments Dividend Income (From Investments under Equity Only)
12	UndistributedEarningsLosses Undistributed Earnings (Losses)	205
13	EquityInEarningsLossesOfAffiliatedCompaniesIncludingDividendIncome Equity in Earnings (Losses) of Affiliated Companies (Total Lines 11 and 12)
14	OtherIncomeAndDeductions TOTAL Other Income and Deductions (Total Lines 4 thru 10 and 13)
15	OrdinaryIncomeBeforeFederalIncomeTaxes Ordinary Income before Federal Income Taxes (Line 3 +/- 14)		40,383,814	59,486,425	40,383,814	59,486,425
16	FederalIncomeTaxesOnIncomeFromContinuingOperations (Less) Income Taxes on Income from Continuing Operations (670)
17	ProvisionForDeferredTaxes (Less) Provision for Deferred Taxes (671)	230
18	IncomeLossFromContinuingOperations Income (Loss) from Continuing Operations (Total Lines 15 thru 17)		40,383,814	59,486,425	40,383,814	59,486,425
	DiscontinuedOperationsAbstract Discontinued Operations
19	IncomeLossFromOperationsOfDiscontinuedSegmentsLessApplicableIncomeTaxes Income (Loss) from Operations of Discontinued Segments (675)*
20	GainLossFromDispositionOfDiscontinuedSegmentsLessApplicableIncomeTaxes Gain (Loss) on Disposal of Discontinued Segments (676)*
21	IncomeLossFromDiscontinuedOperations TOTAL Income (Loss) from Discontinued Operations (Lines 19 and 20)
22	IncomeLossBeforeExtraordinaryItems Income (Loss) before Extraordinary Items (Total Lines 18 and 21)		40,383,814	59,486,425	40,383,814	59,486,425
	ExtraordinaryItemsAndAccountingChangesAbstract EXTRAORDINARY ITEMS AND ACCOUNT CHANGES
23	ExtraordinaryItemsNet Extraordinary Items -- Net -- (Debit) Credit (680)	337
24	IncomeTaxesOnExtraordinaryItems Income Taxes on Extraordinary Items -- Debit (Credit) (695)	337
25	ProvisionForDeferredTaxesExtraordinaryItems Provision for Deferred Taxes -- Extraordinary Items (696)	230
26	ExtraordinaryItems TOTAL Extraordinary Items (Total Lines 23 thru 25)
27	CumulativeEffectOfChangesInAccountingPrinciplesLessApplicableIncomeTaxes Cumulative Effect of Changes in Accounting Principles (697)*
28	ExtraordinaryItemsAndAccountingChanges TOTAL Extraordinary Items and Accounting Changes -- (Debit) Credit (Line 26 + 27)
29	NetIncomeLoss Net Income (Loss) (Total Lines 22 and 28)		40,383,814	59,486,425	40,383,814	59,486,425
	* Less applicable income taxes as reported on page 122

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

Statement of Accumulated Other Comprehensive Income and Hedging Activities
Report in columns (b), (c), (d), and (e) the amounts of accumulated other comprehensive income items, on a net-of-tax basis, where appropriate. Report in columns (f) and (g) the amounts of other categories of other cash flow hedges. For each category of hedges that have been accounted for as "fair value hedges", report the accounts affected and the related amounts in a footnote.
Line No.	Item (a)	Unrealized Gains and Losses on available-for-sale securities (b)	Minimum Pension liabililty Adjustment (net amount) (c)	Foreign Currency Hedges (d)	Other Adjustments (e)	Other Cash Flow Hedges Interest Rate Swaps (f)	Other Cash Flow Hedges [Insert Footnote at Line 1 to specify] (g)	Totals for each category of items recorded in Account 77 (h)	Net Income (Carried Forward from Page 114, Line 29) (i)	Total Comprehensive Income (j)
1	Balance of Account 77 at Beginning of Preceding Year
2	Preceding Quarter/Year to Date Reclassifications from Account 77 to Net Income
3	Preceding Quarter/Year to Date Changes in Fair Value
4	Total (lines 2 and 3)								59,486,425
5	Balance of Account 77 at End of Preceding Quarter/Year
6	Balance of Account 77 at Beginning of Current Year
7	Current Quarter/Year to Date Reclassifications from Account 77 to Net Income
8	Current Quarter/Year to Date Changes in Fair Value
9	Total (lines 7 and 8)								40,383,814
10	Balance of Account 77 at End of Current Quarter/Year

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

Unappropriated Retained Income Statement
Report items of the Retained Income Accounts of the respondents for the period, classified in accordance with the USofA. Report on lines 15 and 16 the amount of assigned Federal income tax consequences, Account Nos. 710 and 720. Report on lines 17 through 20 all amounts applicable to the equity in undistributed earnings (losses) of affiliated companies based on the equity method of accounting. Line 18 should agree with Line 12, Schedule 114. The total of lines 2, 6, and 18 should agree with line 29, Schedule 114 Include on lines 1 through 12 only amounts applicable to Retained Income exclusive of any amounts included on lines 17 through 20.
Line No.	Item (a)	Reference page no. for Year (b)	Current Quarter/Year (in dollars) (c)	Previous Quarter/Year (in dollars) (d)
	UnappropriatedRetainedEarningsAbstract UNAPPROPRIATED RETAINED INCOME
1	UnappropriatedRetainedIncome Balances at Beginning of Year		1,327,767,394	1,135,146,719
	AdditionsToUnappropriatedRetainedIncomeAbstract CREDITS
2	UnappropriatedRetainedIncomeCreditTransferredFromIncome Net Balance Transferred from Income (700)	114	40,383,814	59,486,425
3	PriorPeriodAdjustmentsToBeginningRetainedIncomeAccount Prior Period Adjustments to Beginning Retained Income (705)
4	OtherCreditsToRetainedIncome Other Credits to Retained Income (710)*	337
5	AdditionsToUnappropriatedRetainedIncome TOTAL (Lines 2 thru 4)		40,383,814	59,486,425
	DeductionsFromUnappropriatedRetainedIncomeAbstract DEBITS
6	UnappropriatedRetainedIncomeDebitTransferredFromIncome Net Balance Transferred from Income (700)	114
7	OtherDebitsToRetainedIncome Other Debits to Retained Income (720)*	337
8	AppropriationsOfRetainedIncome Appropriations of Retained Income (740)	118
9	DividendAppropriationsOfRetainedIncome Dividend Appropriations of Retained Income (750)	121
10	DeductionsFromUnappropriatedRetainedIncome TOTAL (lines 6 thru 9)
11	NetIncreaseDecreaseInUnappropriatedRetainedIncome Net Increase (Decrease) During Year (Line 5 minus line 10)		40,383,814	59,486,425
12	UnappropriatedRetainedIncome Balances at End of Year (Lines 1 and 11)		1,368,151,208	1,194,633,144
13	EquityInEarningsLossesOfAffiliatedCompanies Balance from Line 20	204
14	UnappropriatedRetainedIncomeAndEquityInUndistributedEarningsLossesOfAffiliatedCompany TOTAL Unapprop. Retained Inc. and Equity in Undistr. Earnings. (Losses) of Affil. Comp. at End of Year (Lines 12 & 13)		1,368,151,208	1,194,633,144
	AssignedFederalIncomeTaxConsequencesAbstract *Amount of Assigned Federal Income Tax Consequences
15	AssignedFederalIncomeTaxConsequencesOtherCreditsToRetainedIncome Account No. 710
16	AssignedFederalIncomeTaxConsequencesOtherDebitsToRetainedIncome Account No. 720
	EquityInUndistributedEarningsLossesOfAffiliatedCompaniesAbstract EQUITY IN UNDISTRIBUTED EARNINGS (LOSSES) OF AFFILIATED COMPANIES
17	EquityInEarningsLossesOfAffiliatedCompanies Balances at Beginning of Year	204
18	UndistributedEarningsLosses Net Balance transferred from Income (700)	114
19	OtherCreditsDebitsToEquityInUndistributedEarningsLossesOfAffiliatedCompanies Other Credits (Debits)
20	EquityInEarningsLossesOfAffiliatedCompanies Balances at End of Reporting Period/Year	204

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

Statement of Cash Flows
Codes to be used: (a) Net Proceeds or Payments; (b) Bonds, debentures and other long-term debt; (c) Include commercial paper; and (d) Identify separately such items as investments, fixed assets, intangibles, etc. Information about noncash investing and financing activities must be provided on Page 122 Notes to the Financial Statements. Also provide a reconciliation between "Cash and Cash Equivalents at End of Period" with related amounts on the Balance Sheet. Operating Activities - Other: Include gains and losses pertaining to operating activities only. Gains and losses pertaining to investing and financing activities should be reported in those activities. Show on Page 122 Notes to the Financial Statements the amounts of interest paid (net of amount capitalized) and income taxes paid. Investing Activities: Include at Other net cash outflow to acquire other companies. Provide a reconciliation of assets acquired with liabilities assumed on Page 122 Notes to the Financial Statements. Do not include on this statement the dollar amount of leases capitalized; instead provide a reconciliation of the dollar amount of leases capitalized with the plant cost. Under "Other" specify significant amounts and group others. Enter on Page 122 clarifications and explanations.
Line No.	Description (See Instructions No. 5 for Explanation of Codes) (a)	Current Quarter/Year Amount (b)	Previous Quarter/Year Amount (c)
1	NetCashFlowFromOperatingActivitiesAbstract Cash Flow from Operating Activities:
2	NetIncomeLoss Net Income	40,383,814	59,486,425
3	NoncashChargesCreditsToIncomeAbstract Noncash Charges (Credits) to Income:
4	DepreciationAndDepletion Depreciation	15,319,211	15,321,906
5	Amortization Amortization	(a) 149,814
6	NoncashAdjustmentsToCashFlowsFromOperatingActivities Other Non Cash Adjustments
6.1	NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription Noncash lower of cost or net realizable value adjustment		6,699,808
8	DeferredIncomeTaxesNet Deferred Income Taxes
10	NetIncreaseDecreaseInReceivablesOperatingActivities Net (Increase) Decrease in Receivables	(b) 536,931	(h) 1,154,930
11	NetIncreaseDecreaseInInventoryOperatingActivities Net (Increase) Decrease in Inventory	(c) 723,009	(i) 2,855,261
12	NetIncreaseDecreaseInPayablesAndAccruedExpensesOperatingActivities Net Increase (Decrease) in Payables and Accrued Expenses	7,753,529	3,831,286
14	OtherAdjustmentsToCashFlowsFromOperatingActivities Other
14.1	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other:
14.2	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Net Increase (Decrease) in Deferred Revenue	3,464,443	2,163,725
14.3	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Net (Increase) Decrease in Prepayments	52,585	3,007,682
14.4	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Return of Customer Deposits		2,769,676
14.5	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other Operating	346,611	517,951
22	NetCashProvidedByUsedInOperatingActivities Net Cash Provided by (Used in) Operating Activities (Total of lines 2 thru 20)	46,188,833	76,215,962
24	CashFlowsFromInvestmentActivitiesAbstract Cash Flows from Investment Activities:
25	ConstructionAndAcquisitionOfPlantIncludingLandAbstract Construction and Acquisition of Plant (including land):
26	GrossAdditionsToCarrierPropertyInvestmentActivities Gross Additions to Carrier Property:	(d) 1,714,598	(j) 14,712,129
27	GrossAdditionsToNoncarrierPropertyInvestmentActivities Gross Additions to Noncarrier Property
28	OtherConstructionAndAcquisitionOfPlantInvestmentActivities Other
28.1	OtherConstructionAndAcquisitionOfPlantInvestmentActivitiesDescription Other:
28.2	OtherConstructionAndAcquisitionOfPlantInvestmentActivitiesDescription Salvage, net of cost of removal	(e) 29,360	(k) 40,269
34	CashOutflowsForPlant Cash Outflows for Plant (Total of lines 26 thru 33)	(f) 1,685,238	(l) 14,671,860
36	AcquisitionOfOtherNoncurrentAssets Acquisition of Other Noncurrent Assets (d)
37	ProceedsFromDisposalOfNoncurrentAssets Proceeds from Disposal of Noncurrent Assets (d)
39	InvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies Investments in and Advances to Assoc. and Subsidiary Companies
40	ContributionsAndAdvancesFromAssociatedAndSubsidiaryCompanies Contributions and Advances from Assoc. and Subsidiary Companies
42	DispositionOfInvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies Disposition of Investments in (and Advances to) Associated and Subsidiary Companies
44	PurchaseOfInvestmentSecurities Purchase of Investment Securities (a)
45	ProceedsFromSalesOfInvestmentSecurities Proceeds from Sales of Investment Securities (a)
46	LoansMadeOrPurchased Loans Made or Purchased
47	CollectionsOnLoans Collections on Loans
49	NetIncreaseDecreaseInReceivablesInvestingActivities Net (Increase) Decrease in Receivables
50	NetIncreaseDecreaseInInventoryInvestingActivities Net (Increase) Decrease in Inventory
51	NetIncreaseDecreaseInPayablesAndAccruedExpensesInvestingActivities Net Increase (Decrease) in Payables and Accrued Expenses
52	OtherAdjustmentsToCashFlowsFromInvestmentActivities Other
52.1	OtherAdjustmentsToCashFlowsFromInvestmentActivitiesDescription Other:
57	CashFlowsProvidedFromUsedInInvestmentActivities Net Cash Provided by (Used in) Investing Activities (Total of Lines 34 thru 55)	1,685,238	14,671,860
59	CashFlowsFromFinancingActivitiesAbstract Cash Flows from Financing Activities:
60	ProceedsFromIssuanceAbstract Proceeds from Issuance of:
61	ProceedsFromIssuanceOfLongTermDebtFinancingActivities Long-Term Debt (b)
62	ProceedsFromIssuanceOfCapitalStock Capital Stock
63	OtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities Other
63.1	DescriptionForOtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities Other:
66	NetIncreaseInShortTermDebt Net Increase in Short-Term Debt (c)
67	OtherAdjustmentByShortTermDebtToCashFlowsFromFinancingActivities Other
67.1	OtherAdjustmentByShortTermDebtToCashFlowsFromFinancingActivitiesDescription Other:
70	CashProvidedByOutsideSources Cash Provided by Outside Sources (Total of lines 61 thru 69)
72	PaymentsForRetirementAbstract Payment for Retirement of:
73	PaymentsForRetirementOfLongTermDebtFinancingActivities Long-term Debt (b)
74	PaymentForRetirementOfCapitalStock Capital Stock
75	OtherRetirementsOfBalancesImpactingCashFlowsFromFinancingActivities Other
75.1	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Other:
75.2	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Contribution from Members, net
75.3	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Distributions to Members, net	(g) 44,503,595	(m) 61,544,102
78	NetDecreaseInShortTermDebt Net Decrease in Short-Term Debt (c)
80	DividendsOnCapitalStock Dividends on Capital Stock
81	OtherAdjustmentsToCashFlowsFromFinancingActivities Other
81.1	OtherAdjustmentsToCashFlowsFromFinancingActivitiesDescription Other:
83	CashFlowsProvidedFromUsedInFinancingActivities Net Cash Provided by (Used in) Financing Activities (Total of lines 70 thru 81)	44,503,595	61,544,102
85	NetIncreaseDecreaseInCashAndCashEquivalentsAbstract Net Increase (Decrease) in Cash and Cash Equivalents
86	NetIncreaseDecreaseInCashAndCashEquivalents Net Increase (Decrease) in Cash and Cash Equivalents (Total of Lines 22, 57, and 83)
88	CashAndCashEquivalents Cash and Cash Equivalents at Beginning of Year
90	CashAndCashEquivalents Cash and Cash Equivalents at End of Year

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

FOOTNOTE DATA

(a) Concept: Amortization

Amortization of other deferred charges

(b) Concept: NetIncreaseDecreaseInReceivablesOperatingActivities

Original value: 536931

Original value: 723009

(d) Concept: GrossAdditionsToCarrierPropertyInvestmentActivities

Original value: -1714598

(e) Concept: OtherConstructionAndAcquisitionOfPlantInvestmentActivities

Original value: 29360

(f) Concept: CashOutflowsForPlant

Original value: -1685238

(g) Concept: OtherRetirementsOfBalancesImpactingCashFlowsFromFinancingActivities

Original value: -44503595

(h) Concept: NetIncreaseDecreaseInReceivablesOperatingActivities

Original value: 1154930

(i) Concept: NetIncreaseDecreaseInInventoryOperatingActivities

Original value: -2855261

(j) Concept: GrossAdditionsToCarrierPropertyInvestmentActivities

Original value: -14712129

(k) Concept: OtherConstructionAndAcquisitionOfPlantInvestmentActivities

Original value: 40269

(l) Concept: CashOutflowsForPlant

Original value: -14671860

(m) Concept: OtherRetirementsOfBalancesImpactingCashFlowsFromFinancingActivities

Original value: -61544102

Name of Respondent

Tallgrass Pony Express Pipeline, LLC

This Report Is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report

Year/Period of Report

End of:

2021

Notes to Financial Statements

Quarterly Notes

Respondent must provide in the notes sufficient disclosures so as to make the interim information not misleading. Disclosures which would substantially duplicate the disclosures contained in the most recent FERC Annual Report may be omitted.
Disclosures shall be provided where events subsequent to the end of the most recent year have occurred which have a material effect on the respondent. Respondent must include in the notes significant changes since the most recently completed year such items as: accounting principles and practices; estimates inherent in the preparation of the financial statements; status of long-term contracts; capitalization including significant new borrowings or modifications of existing financing agreements; and changes resulting from business combinations or dispositions. However where material contingencies exist, the disclosure of such matters shall be provided even though a significant change since year end may not have occurred.
Finally, if the notes to the financial statements relating to the respondent appearing in the annual report to the stockholders are applicable and furnish the data required by the above instructions, such notes may be included herein.

Annual Notes

Use the space below for important notes regarding the Balance Sheet, Statement of Income for the year, Statement of Retained Earnings for the year, and Statement of Cash Flows, or any account therefor. Classify the notes according to each basic statement, providing a subheading for each statement, except where a note is applicable to more than one statement.
Furnish details as to any significant commitments or contingent assets or liabilities existing at end of year, including a brief explanation of any action initiated by the Internal Revenue Service involving possible assessments of additional income taxes of a material amount, or of a claim for refund of income taxes of a material amount initiated by the respondent. State whether such commitments or contingencies will have a material adverse effect upon the financial position or results of operations of the respondent.
Furnish details on the accounting for the respondent's pensions and postretirement benefits and explain any changes in the method of accounting for them. Include in the details a concise breakdown of the effects of the various components on income for the year, funding for the plans and accumulated obligations at year end.
Provide an explanation of any significant changes in operations during the year. Give the financial statement effects of acquiring oil pipelines by purchase or merger or by participating in joint ventures or similar activities.
Furnish details on the respondent's accounting for income taxes and provide an explanation of any changes in the methods of accounting for income taxes and give the financial statement effects resulting from these changes.
Provide an explanation of any significant rate or other regulatory matters involving the respondent during the year and give the effects, if any, on the respondent's financial statements.

1. Description of Business

Tallgrass Pony Express Pipeline, LLC ("Pony Express") is a Delaware limited liability company that provides crude oil transportation to customers in Wyoming, Colorado, Kansas, and the surrounding regions, with access to Bakken Shale, DJ Basin and Power River Basin production. Pony Express owns an approximately 910-mile crude oil pipeline with origins in Wyoming, Colorado, and Kansas and destinations in Colorado, Kansas and Oklahoma.

The sole member of Pony Express as of March 31, 2021 was Tallgrass MLP Operations, LLC ("MLP Ops"), a wholly-owned subsidiary of Tallgrass Energy Partners, LP ("TEP").

2. Basis of Presentation

The accompanying unaudited interim financial statements were prepared in accordance with the accounting requirements of the Federal Energy Regulatory Commission ("FERC") as set forth in its applicable Uniform System of Accounts and published accounting releases, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America ("GAAP"). In management's opinion, these interim financial statements reflect normal and recurring adjustments that are necessary for a fair statement of Pony Express’ financial results for the interim periods presented, and adequate disclosures have been made to make the information presented not misleading. These interim financial statements should be read along with Pony Express’ financial statements and related notes included in its 2020 Annual Report of Oil Pipeline Companies on Form No. 6 ("2020 Form No. 6").

Use of Estimates

Certain amounts included in or affecting these financial statements and related disclosures must be estimated, requiring management to make certain assumptions with respect to values or conditions which cannot be known with certainty at the time the financial statements are prepared. These estimates and assumptions affect the amounts reported for assets, liabilities, revenues, and expenses during the reporting period, and the disclosure of contingent assets and liabilities at the date of the financial statements. Management evaluates these estimates on an ongoing basis, utilizing historical experience, consultation with experts and other methods it considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from these estimates. These estimates and other factors, including those outside of our control, such as the impact of sustained lower commodity prices and volatility associated with the COVID-19 pandemic, could have a significant adverse impact on our business, financial position, or results of operations. Any impact of revisions to these estimates is recorded in the period in which the facts that give rise to the revision become known.

3. Related Party Transactions

Pony Express has no employees. As of March 31, 2021, TEP and its subsidiaries provided and billed Pony Express for various services including employee labor costs, information technology services, employee health and retirement benefits, and all other expenses necessary or appropriate to the conduct of Pony Express' business. As of March 31, 2021, TEP paid costs and expenses incurred by Pony Express, acting as Pony Express' agent, and was reimbursed by Pony Express for such payments through Pony Express' participation in a cash management agreement.

Totals of transactions with affiliated companies are as follows (in thousands):

Three Months Ended March 31,

	2021		2020

Operating revenues⁽¹⁾	$	25,437			$	12,235
Operating expenses⁽²⁾	$	9,979			$	9,905

Charges from TEP:

Net carrier property	$	72			$	143
Operating expenses	$	6,752			$	6,592

Operating revenues for the three months ended March 31, 2021 and 2020 are primarily from Stanchion Energy, LLC, an affiliate of TEP.
Operating expenses for the three months ended March 31, 2021 and 2020, primarily reflects rent expense for crude oil storage and terminalling services provided by Tallgrass Terminals, LLC, an affiliate of TEP.

Balances with affiliated companies included in the accompanying Comparative Balance Sheet include amounts receivable from TEP of $0.5 million as of March 31, 2021 and amounts payable to Deeprock Development, LLC ("Deeprock") of $2.1 million as of December 31, 2020, respectively.

4. Revenue from Contracts with Customers

Disaggregated Revenue

A summary of Pony Express' revenue by line of business is as follows (in thousands):

Three Months Ended March 31,

2021

2020

Trunk revenues

89,139

117,622

Allowance oil revenues	5,671			(3,726)
Delivery revenues	285			331

Operating revenues

95,095

114,227

Performance Obligations

On March 31, 2021, Pony Express had $0.7 billion of remaining performance obligations, which it refers to as total backlog, which it expects to recognize within six years. Total backlog includes performance obligations under transportation contracts, and excludes variable consideration that is not estimated at contract inception, as discussed further below.

Contract Estimates

Accounting for long-term contracts involves the use of various techniques to estimate total contract revenue. Contract estimates are based on various assumptions to project the outcome of future events that often span several years. These assumptions include the anticipated volumes of crude oil expected to be delivered by Pony Express' customers for transport in future periods.

The nature of Pony Express' contracts gives rise to several types of variable consideration, including pipeline loss allowance oil, volumetric charges for actual volumes delivered, and other fees that are contingent on the actual volumes delivered by Pony Express' customers. As the amount of variable consideration is allocable to each distinct performance obligation within the series of performance obligations that comprise the single performance obligation and the uncertainty related to the consideration is resolved each month as the distinct service is provided, Pony Express does not estimate the total variable consideration for the single overall performance obligation. Consequently, Pony Express is able to include in the transaction price each month the actual amount of variable consideration because no uncertainty exists surrounding the services provided that month.

Contract Balances

The timing of revenue recognition, billings, and cash collections may result in billed accounts receivable, unbilled receivables (contract assets), and deferred revenue (contract liabilities) on the Comparative Balance Sheet. Revenue is generally billed and collected monthly based on services provided or volumes sold. Pony Express recognizes shipper deficiencies, or deferred revenue, for barrels committed by the customer to be transported in a month but not physically received by Pony Express for transport or delivered to the customers' agreed upon destination point. These shipper deficiencies are charged at the committed tariff rate per barrel and recorded as a contract liability until the barrels are physically transported and delivered, or when the likelihood that the customer will utilize the deficiency balance becomes remote. Balances associated with Pony Express' contracts with customers were as follows (in thousands):

Contract Liabilities⁽¹⁾

Balance at January 1, 2021

63,407

Additions		225
Amounts recognized as revenue		(3,689)

Balance at March 31, 2021

59,943

Deferred revenue from contracts with customers is recorded in Account 058, Other Current Liabilities.

5. Regulatory Matters

Ratemaking Process

Pony Express has three types of transportation rates on its system. The first are contract rates, which are contractually agreed to and given in exchange for either commitments to ship on the pipeline or acreage dedications ("Contract Rates"). Contract Rates are generally honored by the FERC during the term of the relevant contracts. The majority of Pony Express' revenue is derived from Contract Rates. The second are indexed rates, which means they may be increased or decreased at any time provided they do not exceed the index ceiling ("Indexed Rates"). The index ceiling is calculated yearly by applying the FERC-approved inflationary adjustment, which may be positive or negative. These rates can be challenged on a cost-of-service basis. Pony Express last adjusted its Indexed Rates in Docket No. IS21-501-000 effective July 1, 2021. The third are volume incentive rates, which reflect a discount to the Indexed Rates and are available to all shippers without a contractual commitment to ship on the pipeline ("Volume Incentive Rates"). These discounts are discretionary and may not be challenged on a cost-of-service basis; however, should Pony Express' Indexed Rates be lowered due to a cost-of-service challenge, the Volume Incentive Rates would also be reduced if they are no longer below the Indexed Rates. Currently, there are no regulatory proceedings challenging transportation rates at Pony Express.

The FERC recently concluded its five-year index review to establish the new inflationary adjustment for liquid pipeline rates subject to indexing. In this review, the FERC considered changes to pipeline industry costs, including, among other things, the effects of the legislation known as the Tax Cuts and Jobs Act of 2017. The FERC issued an order on December 17, 2020 establishing an inflationary adjustment of Producer Price Index for Finished Goods plus 0.78% (PPI-FG+0.78%) for the five-year period commencing July 1, 2021. The order is subject to rehearing, which a number of parties have requested, and potentially judicial review. The outcome of the five-year index review could impact Pony Express’ Page 700 in its Annual Report of Oil Pipeline Companies on Form No. 6.

6. Legal and Environmental Matters

Legal

Pony Express may be involved in various lawsuits arising from the day-to-day operations of its business. Although no assurance can be given, Pony Express believes, based on its experiences to date, that the ultimate resolution of such matters will not have a material adverse impact on its business, financial position, results of operations, or cash flows.

Pony Express has evaluated claims in accordance with the accounting guidance for contingencies that it deems both probable and reasonably estimable and, accordingly, has recorded no reserve for legal claims as of March 31, 2021 and December 31, 2020.

Environmental, Health and Safety

Pony Express is subject to a variety of federal, state and local laws that regulate permitted activities relating to air and water quality, waste disposal, and other environmental matters. Pony Express believes that compliance with these laws will not have a material adverse impact on its business, cash flows, financial position or results of operations. However, there can be no assurances that future events, such as changes in existing laws, the promulgation of new laws, or the development of new facts or conditions will not cause Pony Express to incur significant costs.

7. Subsequent Events

Subsequent events, which are events or transactions that occurred after March 31, 2021 through the issuance of the accompanying financial statements, have been evaluated through June 4, 2021.

Operating Revenues
Report the respondent's pipeline operating revenues year to date, classified in accordance with the Uniform System of Accounts.
Line No.	Account (a)	Crude Oil Current Year to Date Quarter (b)	Products Current Year to Date Quarter (c)	Total Year to Date Quarter (b) + (c) (d)
1	GatheringRevenues (200) Gathering Revenues
2	TrunkRevenues (210) Trunk Revenues	89,139,136		89,139,136
3	DeliveryRevenues (220) Delivery Revenues	285,049		285,049
4	AllowanceOilRevenue (230) Allowance Oil Revenue	5,671,155		5,671,155
5	StorageAndDemurrageRevenue (240) Storage and Demurrage Revenue
6	RentalRevenue (250) Rental Revenue
7	IncidentalRevenue (260) Incidental Revenue
8	OperatingRevenues TOTAL (lines 1 through 7)	95,095,340		95,095,340

Operating Expense Accounts (Account 610)
State the pipeline operating expenses of the respondent for the year, classifying them in accordance with the USofA.
		CRUDE OIL (Year to Date)				PRODUCTS (Year to Date)
Line No.	Operating Expenses Accounts (a)	Gathering (b)	Trunk (c)	Delivery (d)	Total (b + c + d) (e)	Trunk (in dollars) (f)	Delivery (in dollars) (g)	Total (f + g) (in dollars) (h)	Grand Total (e + h) (i)
	OperationsAndMaintenanceAbstract OPERATIONS and MAINTENANCE
1	SalariesAndWagesOperationsAndMaintenance Salaries and Wages (300)		1,699,914		1,699,914				1,699,914
2	MaterialsAndSuppliesOperationsAndMaintenance Materials and Supplies (310)		253,656		253,656				253,656
3	OutsideServicesOperationsAndMaintenance Outside Services (320)		2,707,507		2,707,507				2,707,507
4	OperatingFuelAndPowerOperationsAndMaintenance Operating Fuel and Power (330)		13,951,218		13,951,218				13,951,218
5	OilLossesAndShortagesOperationsAndMaintenance Oil Losses and Shortages (340)		1,829,586		1,829,586				1,829,586
6	RentalsOperationsAndMaintenance Rentals (350)		10,116,753		10,116,753				10,116,753
7	OtherExpensesOperationsAndMaintenance Other Expenses (390)		1,126,177		1,126,177				1,126,177
8	OperationsAndMaintenanceExpensesOil TOTAL Operations and Maintenance Expenses		28,025,639		28,025,639				28,025,639
	GeneralExpenseAbstract GENERAL
9	SalariesAndWagesGeneralExpense Salaries and Wages (500)		2,801,406		2,801,406				2,801,406
10	MaterialsAndSuppliesGeneralExpense Materials and Supplies (510)		67,491		67,491				67,491
11	OutsideServicesGeneralExpense Outside Services (520)		1,162,284		1,162,284				1,162,284
12	RentalsGeneralExpense Rentals (530)
13	DepreciationAndAmortizationGeneralExpense Depreciation and Amortization (540)		15,319,211		15,319,211				15,319,211
14	DepreciationExpenseForAssetRetirementCosts Depreciation Expense for Asset Retirement Costs (541)
15	EmployeeBenefitsGeneralExpense Employee Benefits (550)		408,636		408,636				408,636
16	InsuranceGeneralExpense Insurance (560)		651,422		651,422				651,422
17	CasualtyAndOtherLossesGeneralExpense Casualty and Other Losses (570)
18	PipelineTaxesGeneralExpense Pipeline Taxes (580)		6,250,000		6,250,000				6,250,000
19	OtherExpensesGeneralExpense Other Expenses (590)		25,437		25,437				25,437
20	AccretionExpense Accretion Expense (591)
21	GainsOrLossesOnAssetRetirementObligationsGeneralExpense Gains or Losses on Asset Retirement Obligations (592)
22	GeneralExpensesOil TOTAL General Expenses		26,685,887		26,685,887				26,685,887
23	OperatingExpenses GRAND TOTALS		54,711,526		54,711,526				54,711,526

33a	Total Number of Barrel-Miles (Trunk Lines Only):
	(1) Crude Oil	23,796,857,642
	(2) Products
33b	Total Number of Barrels of Oil Having Trunk-Line Movement:
	(1) Crude Oil	36,169,838
	(2) Products




FERC FINANCIAL REPORT FERC FORM No. 6: Annual Report of Oil Pipeline Companies and Supplemental Form 6-Q: Quarterly Financial Report (Formerly ICC Form P)

These reports are mandatory under the Interstate Commerce Act, Sections 20 and 18 CFR Parts 357.2 and 357.4. Failure to report may result in criminal fines, civil penalties and other sanctions as provided by law. The Federal Energy Regulatory Commission does not consider this report to be of a confidential nature.

FERC FINANCIAL REPORT FERC FORM No. 6: Annual Report of Oil Pipeline Companies and Supplemental Form 6-Q: Quarterly Financial Report

INSTRUCTIONS FOR FILING FERC FORMS 6 AND 6-Q GENERAL INFORMATION

Purpose

Who Must File

What and Where to Submit

When to Submit

Where to Send Comments on Public Reporting Burden

GENERAL INSTRUCTIONS

DEFINITIONS

EXCERPTS FROM THE LAW

GENERAL PENALTIES

FERC FINANCIAL REPORT
FERC FORM No. 6: Annual Report of
Oil Pipeline Companies and
Supplemental Form 6-Q: Quarterly
Financial Report