10-Q Filing

NGL Energy Partners LP CIK: 1504461 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-047015`
Period End Date	20110630
Filing Date	20110815
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	ngl-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 25 Cash Flow Statement 32 Stockholders Equity 11 Comprehensive Income 3

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable - trade, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$161.00K	USD	Point-in-time
Accounts receivable - trade, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$190.00K	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.06M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.87M	USD	Point-in-time
INTANGIBLE ASSETS, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.56M	USD	Point-in-time
INTANGIBLE ASSETS, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.29M	USD	Point-in-time
General partner, interest (as a percent)	`GeneralPartnerInterest`	0.00	pure	Point-in-time
General partner, interest (as a percent)	`GeneralPartnerInterest`	0.00	pure	Point-in-time
General partner, notional units outstanding	`GeneralPartnersCapitalAccountUnitsOutstanding`	14,799.00	shares	Point-in-time
General partner, notional units outstanding	`GeneralPartnersCapitalAccountUnitsOutstanding`	10,945.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Accounts receivable - trade, net of allowance for doubtful accounts of $190 and $161, respectively	`AccountsReceivableNetCurrent`	$44.35M	USD	Point-in-time
Limited partners, interest (as a percent)	`LimitedPartnersInterest`	1.00	pure	Point-in-time
Accounts receivable - trade, net of allowance for doubtful accounts of $190 and $161, respectively	`AccountsReceivableNetCurrent`	$48.08M	USD	Point-in-time
Limited partners, interest (as a percent)	`LimitedPartnersInterest`	1.00	pure	Point-in-time
Common units, units outstanding	`LimitedPartnersCapitalAccountUnitsOutstanding`	10.93M	shares	Point-in-time
Common units, units outstanding	`LimitedPartnersCapitalAccountUnitsOutstanding`	8.86M	shares	Point-in-time
Accounts receivable - affiliates	`DueFromRelatedPartiesCurrent`	$295.00K	USD	Point-in-time
Inventories	`InventoryNet`	$53.12M	USD	Point-in-time
Subordinated units, units outstanding	`LimitedPartnersCapitalAccountSubordinatedUnitsOutstanding`	0.00	shares	Point-in-time
Subordinated units, units outstanding	`LimitedPartnersCapitalAccountSubordinatedUnitsOutstanding`	5.92M	shares	Point-in-time
Inventories	`InventoryNet`	$12.70M	USD	Point-in-time
Product exchanges	`ProductExchangesAssetsCurrent`	$416.00K	USD	Point-in-time
Product exchanges	`ProductExchangesAssetsCurrent`	$427.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.68M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$113.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$77.49M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $4,056 and $2,871, respectively	`PropertyPlantAndEquipmentNet`	$66.02M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $4,056 and $2,871, respectively	`PropertyPlantAndEquipmentNet`	$65.71M	USD	Point-in-time
GOODWILL	`Goodwill`	$8.57M	USD	Point-in-time
GOODWILL	`Goodwill`	$8.57M	USD	Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $2,292 and $1,558, respectively	`IntangibleAssetsNetExcludingGoodwill`	$11.27M	USD	Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $2,292 and $1,558, respectively	`IntangibleAssetsNetExcludingGoodwill`	$11.76M	USD	Point-in-time
Total assets	`Assets`	$163.83M	USD	Point-in-time
Total assets	`Assets`	$198.67M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$37.24M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$49.31M	USD	Point-in-time
Accrued expenses and other payables	`OtherLiabilitiesCurrent`	$5.12M	USD	Point-in-time
Accrued expenses and other payables	`OtherLiabilitiesCurrent`	$3.71M	USD	Point-in-time
Product exchanges	`ProductExchangesLiabilitiesCurrent`	$1.04M	USD	Point-in-time
Product exchanges	`ProductExchangesLiabilitiesCurrent`	$7.42M	USD	Point-in-time
Advance payments received from customers	`CustomerAdvancesCurrent`	$7.71M	USD	Point-in-time
Advance payments received from customers	`CustomerAdvancesCurrent`	$15.54M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.83M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$830.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$50.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.23M	USD	Point-in-time
LONG-TERM DEBT, net of current maturities	`LongTermDebtNoncurrent`	$65.54M	USD	Point-in-time
LONG-TERM DEBT, net of current maturities	`LongTermDebtNoncurrent`	$10.38M	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$395.00K	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$370.00K	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
General Partner - 0.1% interest; 14,799 and 10,945 notional units outstanding, respectively	`GeneralPartnersCapitalAccount`	$72.00K	USD	Point-in-time
General Partner - 0.1% interest; 14,799 and 10,945 notional units outstanding, respectively	`GeneralPartnersCapitalAccount`	$146.00K	USD	Point-in-time
Common units - 8,864,222 and 10,933,568 units outstanding, respectively	`LimitedPartnersCapitalAccount`	$86.55M	USD	Point-in-time
Common units - 8,864,222 and 10,933,568 units outstanding, respectively	`LimitedPartnersCapitalAccount`	$47.23M	USD	Point-in-time
Subordinated units - 5,919,346 and no units outstanding, respectively	`SubordinatedUnits`	$21.94M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$61.00K	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$56.00K	USD	Point-in-time
Total partners' equity	`PartnersCapital`	$108.69M	USD	Point-in-time
Total partners' equity	`PartnersCapital`	$47.35M	USD	Point-in-time
Total liabilities and partners' equity	`LiabilitiesAndStockholdersEquity`	$163.83M	USD	Point-in-time
Total liabilities and partners' equity	`LiabilitiesAndStockholdersEquity`	$198.67M	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Retail propane	`PropaneRevenue`	$12.85M	USD	1 Quarter
Wholesale supply and marketing	`WholesaleSupplyAndMarketingRevenue`	$177.50M	USD	1 Quarter
Midstream	`GasGatheringTransportationMarketingAndProcessingRevenue`	$497.00K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$190.85M	USD	1 Quarter
Retail propane	`PropaneCosts`	$8.11M	USD	1 Quarter
Wholesale supply and marketing	`CostOfSalesWholesaleSupplyAndMarketing`	$177.77M	USD	1 Quarter
Midstream	`GasGatheringTransportationMarketingAndProcessingCosts`	$98.00K	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$185.97M	USD	1 Quarter
Gross Margin	`GrossProfit`	$4.87M	USD	1 Quarter
Operating	`OperatingExpenses`	$7.14M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.38M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-5.68M	USD	1 Quarter
Interest income	`FinanceChargesIncome`	$126.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.30M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$85.00K	USD	1 Quarter
Loss Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.77M	USD	1 Quarter
Net Loss	`ProfitLoss`	$-6.77M	USD	1 Quarter
Net Loss Allocated to General Partner	`NetIncomeLossAllocatedToGeneralPartners`	$7.00K	USD	1 Quarter
Net Loss Allocable to Limited Partners or Attributable to Parent Equity	`NetIncomeLossAllocatedToLimitedPartners`	$-6.76M	USD	1 Quarter
Basic Earnings Per Common Unit or Share (in dollars per unit)	`EarningsPerShareBasic`	$-0.53	USD	1 Quarter
Diluted Earnings Per Common Unit or Share (in dollars per unit)	`EarningsPerShareDiluted`	$-0.53	USD	1 Quarter
Basic and Diluted Earnings per Subordinated Unit (in dollars per unit)	`NetIncomeLossPerOutstandingLimitedPartnershipSubordinatedUnitBasicAndDiluted`	$-0.53	USD	1 Quarter
Common (in units)	`WeightedAverageLimitedPartnershipAndGeneralPartnershipUnitsOutstandingBasic`	9.88M	shares	1 Quarter
Subordinated (in units)	`WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasic`	2.93M	shares	1 Quarter

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-6.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.93M	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$46.00K	USD	1 Quarter
Commodity derivative loss	`GainLossOnSaleOfDerivatives`	$-29.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$7.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.78M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$40.42M	USD	1 Quarter
Product exchanges, net	`IncreaseDecreaseInProductExchangesNet`	$-6.39M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-408.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.07M	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInAccruedLiabilities`	$-61.00K	USD	1 Quarter
Advance payments received from customers	`IncreaseDecreaseInCustomerAdvances`	$7.83M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.34M	USD	1 Quarter
Purchases of long-lived assets	`PaymentsToAcquireProductiveAssets`	$840.00K	USD	1 Quarter
Cash paid for acquisitions of businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$70.00K	USD	1 Quarter
Cash flows from commodity derivatives	`ProceedsFromDerivativeInstrumentInvestingActivities`	$2.22M	USD	1 Quarter
Proceeds from sales of assets	`ProceedsFromSaleOfProductiveAssets`	$39.00K	USD	1 Quarter
Advances to affiliates	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$204.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.14M	USD	1 Quarter
Proceeds from sale of common units, net of offering costs	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	$75.29M	USD	1 Quarter
Repurchase of common units	`PaymentsForRepurchaseOfCommonLimitedPartnersUnits`	$3.42M	USD	1 Quarter
Proceeds from borrowings under revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$22.50M	USD	1 Quarter
Payments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$76.50M	USD	1 Quarter
Payments on other long-term debt	`RepaymentsOfOtherLongTermDebt`	$189.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$251.00K	USD	1 Quarter
Distributions to partners ($0.35 per unit)	`PartnersCapitalAccountDistributionsCashFlowImpact`	$3.85M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.59M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.62M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.34M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.34M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Distributions to partners (in dollars per unit)	`DistributionMadeToMemberOrLimitedPartnerDistributionsDeclaredPerUnit`	$0.35	USD	1 Quarter
BALANCES	`PartnersCapital`	$108.69M	USD	Point-in-time
BALANCES	`PartnersCapital`	$47.35M	USD	Point-in-time
Distribution to partners ($0.35 per unit)	`PartnersCapitalAccountDistributions`	$3.85M	USD	1 Quarter
Sale of units in public offering, net	`PartnersCapitalAccountPublicSaleOfUnits`	$75.29M	USD	1 Quarter
Repurchase of common units	`PartnersCapitalAccountTreasuryUnitsPurchases`	$-3.42M	USD	1 Quarter
General partner contribution	`GeneralPartnerContribution`	$85.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.77M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$5.00K	USD	1 Quarter
BALANCES	`PartnersCapital`	$108.69M	USD	Point-in-time
BALANCES	`PartnersCapital`	$47.35M	USD	Point-in-time

Comprehensive Income 3 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-6.77M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$5.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-6.77M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.