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<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 14pt;">1. None</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 14pt;">2. None</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 14pt;">3. None</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 14pt;">4. See Notes to Financial Statements Page 122, Note 2 - Commitments and Contingencies</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 14pt;">5. NA</font></p></div>
<div><p class="MsoNormal" style="margin-bottom: .0001pt;"><strong style="mso-bidi-font-weight: normal;"><em style="mso-bidi-font-style: normal;"><font style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Arial;">1. Interim Period Disclosures -</font></em></strong></p>
<p class="MsoNormal" style="margin-bottom: .0001pt;"><font style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Arial;"> </font></p>
<p class="MsoNormal" style="margin-bottom: .0001pt; text-align: justify;"><font style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Arial;">Because this is an interim period presentation, this report should be read along with the Products (SE) Pipe Line Corporation (“the Company”, “our”) 2022 Annual Form 6 financial statements for more information.<font style="mso-spacerun: yes;"> </font>For the three months ended March 31, 2023, there have been no significant changes to the disclosures in our 2022 Form 6, Page 122, Notes to Financial Statements.</font></p>
<p class="MsoNormal" style="margin-bottom: .0001pt; text-align: justify; text-indent: .5in;"><font style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Arial;"> </font></p>
<p class="MsoNormal" style="margin-bottom: .0001pt;"><strong style="mso-bidi-font-weight: normal;"><em style="mso-bidi-font-style: normal;"><font style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Arial;"><font style="mso-tab-count: 1;"> </font></font></em></strong></p>
<p class="MsoNormal"><strong style="mso-bidi-font-weight: normal;"><em style="mso-bidi-font-style: normal;"><font style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Arial;">2. Commitments and Contingencies - </font></em></strong></p>
<p class="MsoNormal" style="text-align: justify; line-height: normal;"><strong style="mso-bidi-font-weight: normal;"><em style="mso-bidi-font-style: normal;"><font style="font-size: 14.0pt; mso-bidi-font-family: Arial;">Legal Matters -</font></em></strong></p>
<p class="MsoNormal" style="text-align: justify; line-height: normal;"><font style="font-size: 14.0pt; mso-bidi-font-family: Arial;">We are party to various legal, regulatory and other matters arising from the day-to-day operations of our businesses that may result in claims against the Company.<font style="mso-spacerun: yes;"> </font>Although no assurance can be given, we believe, based on our experiences to date and taking into account established reserves and insurance, that the ultimate resolution of such items will not have a material adverse impact on our business.<font style="mso-spacerun: yes;"> </font>We believe we have meritorious defenses to the matters to which we are a party and intend to vigorously defend the Company.<font style="mso-spacerun: yes;"> </font>When we determine a loss is probable of occurring and is reasonably estimable, we accrue an undiscounted liability for such contingencies based on our best estimate using information available at that time.<font style="mso-spacerun: yes;"> </font>If the estimated loss is a range of potential outcomes and there is no better estimate within the range, we accrue the amount at the low end of the range. We disclose contingencies where an adverse outcome may be material or, in the judgment of management, we conclude the matter should otherwise be disclosed.</font></p>
<p class="MsoNormal" style="margin-top: 3.0pt; text-align: justify; line-height: 120%;"><font style="font-size: 14.0pt; line-height: 120%; mso-bidi-font-family: Arial;">There are currently no material legal proceedings against the Company as of March 31, 2023.</font></p>
<p class="MsoNormal" style="margin-top: 3.0pt; text-align: justify; line-height: 120%;"><strong style="mso-bidi-font-weight: normal;"><em style="mso-bidi-font-style: normal;"><font style="font-size: 14.0pt; line-height: 120%; mso-bidi-font-family: Arial;">Environmental Matters -</font></em></strong></p>
<p class="MsoNormal" style="text-align: justify; line-height: normal;"><font style="font-size: 14.0pt; mso-bidi-font-family: Arial;">We are subject to environmental cleanup and enforcement actions from time to time.<font style="mso-spacerun: yes;"> </font>In particular, the Comprehensive Environmental Response, Compensation and Liability Act generally imposes joint and several liability for cleanup and enforcement costs on current and predecessor owners and operators of a site, among others, without regard to fault or the legality of the original conduct, subject to the right of a liable party to establish a “reasonable basis” for apportionment of costs.<font style="mso-spacerun: yes;"> </font>Our operations are also subject to federal, state and local laws and regulations relating to protection of the environment.<font style="mso-spacerun: yes;"> </font>Although we believe our operations are in substantial compliance with applicable environmental laws and regulations, risks of additional costs and liabilities are inherent in our operations, and there can be no assurance that we will not incur significant costs and liabilities.<font style="mso-spacerun: yes;"> </font>Moreover, it is possible that other developments could result in substantial costs and liabilities to us, such as increasingly stringent environmental laws, regulations and enforcement policies under the terms of authority of those laws, and claims for damages to property or persons resulting from our operations.</font></p>
<p class="MsoNormal" style="text-align: justify; line-height: normal;"><font style="font-size: 14.0pt; mso-bidi-font-family: Arial;">Although it is not possible to predict the ultimate outcomes, we believe that the ultimate resolution of the environmental matters, to which we are a party, will not have a material adverse effect on our business. </font></p></div>
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Meli A. Armstrong
Vice President
/s/ Meli A. Armstrong
2023-05-26
6-Q
Products (SE) Pipe Line Corporation
C000630
2023
Q1
1000 Windward Concourse, Suite 450, Alpharetta, GA 30005
Sabre Reach
Director - Accounting
1000 Windward Concourse, Suite 450, Alpharetta, GA 30005
770-751-4145
O
2023-03-31
Proceeds from disposal of fixed assets.
Includes salaries and wages from affiliates.
Includes salaries and wages from affiliates.
Cash and Cash Equivalents at End of Period consists of Cash (Account 10) of $11,377,107 and Temporary Investments (Account 11) of $6,714,248.
Cash and Cash Equivalents at End of Period consists of Cash (Account 10) of $4,128,951 and Temporary Investments (Account 11) of $18,739,758.