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  "documentTitle": "NuStar Energy | Investor Conference Presentation Deck | 36 slides",
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  "notes": "Shows the impact of asset sales on debt leverage.",
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      "text": "Debt-to-EBITDA ratio comparison: 3Q20 Actual (4.13x) vs Current Forecast (3.95x - 4.0x)",
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      "text": "Q4 2020 Texas City Terminal + Q4 2021 Eastern U.S. Terminals = $356MM Total Proceeds",
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      "text": "We have deployed those proceeds to reduce debt, and our Debt-to-EBITDA ratio projected for year-end 2021 is now below 4X",
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      "text": "Since this time last year, we have divested of non-core assets for a total of $356 million in proceeds, in both cases, at an attractive multiple",
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      "text": "1 - Please see Appendix for reconciliations of non-GAAP financial measures to their most directly comparable GAAP measures",
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      "text": "We Also Divested Non-strategic Assets and, in Doing so, Lowered Our Debt-to-EBITDA Ratio and Strengthened Our Balance Sheet",
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