Energy Transfer (NYSE: ET) pays a monster distribution. The master limited partnership (MLP) currently yields an eye-popping 9.3%. Usually, a yield that high is a warning sign that the payout isn't sustainable.

A quick glance at the company's recent third-quarter earnings might give uninformed investors the impression that it can't maintain its big-time distribution. However, a closer look shows that the company's cash flow is more than enough to support (and grow) its monster payout.

Most investors should be familiar with how to read a company's income statement. It's a crucial document that provides a snapshot of its financial performance in a period. Here's a visualization of Energy Transfer's income statement from the third quarter:

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Source Fool.com