10-Q Filing

NGL Energy Partners LP CIK: 1504461 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-064021`
Period End Date	20110930
Filing Date	20111114
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	ngl-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 50 Cash Flow Statement 36 Stockholders Equity 15 Comprehensive Income 6

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable - trade, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$163.00K	USD	Point-in-time
Accounts receivable - trade, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$161.00K	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.87M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.35M	USD	Point-in-time
INTANGIBLE ASSETS, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.56M	USD	Point-in-time
INTANGIBLE ASSETS, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.06M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.40M	USD	Point-in-time
General partner, notional units outstanding	`GeneralPartnersCapitalAccountUnitsOutstanding`	10,945.00	shares	Point-in-time
Limited partners, interest (as a percent)	`LimitedPartnersInterest`	1.00	pure	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 $163 and $161, respectively	`AccountsReceivableNetCurrent`	$55.06M	USD	Point-in-time
Accounts receivable - trade, net of allowance for doubtful accounts of $163 and $161, respectively	`AccountsReceivableNetCurrent`	$44.35M	USD	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`	$92.00K	USD	Point-in-time
Subordinated units, units outstanding	`LimitedPartnersCapitalAccountSubordinatedUnitsOutstanding`	5.92M	shares	Point-in-time
Inventories	`InventoryNet`	$12.70M	USD	Point-in-time
Subordinated units, units outstanding	`LimitedPartnersCapitalAccountSubordinatedUnitsOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$107.28M	USD	Point-in-time
Product exchanges	`ProductExchangesAssetsCurrent`	$427.00K	USD	Point-in-time
Product exchanges	`ProductExchangesAssetsCurrent`	$668.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.68M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.61M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$174.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$77.49M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $5,347 and $2,871, respectively	`PropertyPlantAndEquipmentNet`	$66.02M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $5,347 and $2,871, respectively	`PropertyPlantAndEquipmentNet`	$66.41M	USD	Point-in-time
GOODWILL	`Goodwill`	$9.12M	USD	Point-in-time
GOODWILL	`Goodwill`	$8.57M	USD	Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $3,062 and $1,558, respectively	`IntangibleAssetsNetExcludingGoodwill`	$12.63M	USD	Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $3,062 and $1,558, respectively	`IntangibleAssetsNetExcludingGoodwill`	$11.76M	USD	Point-in-time
Total assets	`Assets`	$262.27M	USD	Point-in-time
Total assets	`Assets`	$163.83M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$62.74M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$37.24M	USD	Point-in-time
Accrued expenses and other payables	`OtherLiabilitiesCurrent`	$4.71M	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`	$10.14M	USD	Point-in-time
Advance payments received from customers	`CustomerAdvancesCurrent`	$33.13M	USD	Point-in-time
Advance payments received from customers	`CustomerAdvancesCurrent`	$7.71M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$830.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$40.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$50.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.37M	USD	Point-in-time
LONG-TERM DEBT, net of current maturities	`LongTermDebtNoncurrent`	$10.09M	USD	Point-in-time
LONG-TERM DEBT, net of current maturities	`LongTermDebtNoncurrent`	$65.54M	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$395.00K	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$50.00K	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`	$138.00K	USD	Point-in-time
Common units - 8,864,222 and 10,933,568 units outstanding, respectively	`LimitedPartnersCapitalAccount`	$47.23M	USD	Point-in-time
Common units - 8,864,222 and 10,933,568 units outstanding, respectively	`LimitedPartnersCapitalAccount`	$81.83M	USD	Point-in-time
Subordinated units - 5,919,346 and no units outstanding, respectively	`SubordinatedUnits`	$18.79M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$56.00K	USD	Point-in-time
Total partners' equity	`PartnersCapital`	$100.77M	USD	Point-in-time
Total partners' equity	`PartnersCapital`	$47.35M	USD	Point-in-time
Total liabilities and partners' equity	`LiabilitiesAndStockholdersEquity`	$262.27M	USD	Point-in-time
Total liabilities and partners' equity	`LiabilitiesAndStockholdersEquity`	$163.83M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Retail propane	`PropaneRevenue`	$19.23M	USD	1 Quarter
Retail propane	`PropaneRevenue`	$32.08M	USD	2 Qtrs
Wholesale supply and marketing	`WholesaleSupplyAndMarketingRevenue`	$367.63M	USD	2 Qtrs
Wholesale supply and marketing	`WholesaleSupplyAndMarketingRevenue`	$190.13M	USD	1 Quarter
Midstream	`GasGatheringTransportationMarketingAndProcessingRevenue`	$686.00K	USD	1 Quarter
Midstream	`GasGatheringTransportationMarketingAndProcessingRevenue`	$1.18M	USD	2 Qtrs
Total Revenues	`SalesRevenueNet`	$210.04M	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$400.89M	USD	2 Qtrs
Retail propane	`PropaneCosts`	$21.31M	USD	2 Qtrs
Retail propane	`PropaneCosts`	$13.21M	USD	1 Quarter
Wholesale supply and marketing	`CostOfSalesWholesaleSupplyAndMarketing`	$365.91M	USD	2 Qtrs
Wholesale supply and marketing	`CostOfSalesWholesaleSupplyAndMarketing`	$188.14M	USD	1 Quarter
Midstream	`GasGatheringTransportationMarketingAndProcessingCosts`	$102.00K	USD	1 Quarter
Midstream	`GasGatheringTransportationMarketingAndProcessingCosts`	$200.00K	USD	2 Qtrs
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$387.43M	USD	2 Qtrs
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$201.45M	USD	1 Quarter
Gross Margin	`GrossProfit`	$8.59M	USD	1 Quarter
Gross Margin	`GrossProfit`	$13.46M	USD	2 Qtrs
Operating	`OperatingExpenses`	$7.25M	USD	1 Quarter
Operating	`OperatingExpenses`	$14.39M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$6.20M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.16M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.08M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.70M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-4.53M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-10.21M	USD	2 Qtrs
Interest income	`FinanceChargesIncome`	$99.00K	USD	1 Quarter
Interest income	`FinanceChargesIncome`	$225.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.01M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.31M	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$46.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$131.00K	USD	2 Qtrs
Loss Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.39M	USD	1 Quarter
Loss Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-12.17M	USD	2 Qtrs
Net Loss	`ProfitLoss`	$-12.17M	USD	2 Qtrs
Net Loss	`ProfitLoss`	$-5.39M	USD	1 Quarter
Net Loss Allocated to General Partner	`NetIncomeLossAllocatedToGeneralPartners`	$12.00K	USD	2 Qtrs
Net Loss Allocated to General Partner	`NetIncomeLossAllocatedToGeneralPartners`	$5.00K	USD	1 Quarter
Net Loss Allocable to Limited Partners or Attributable to Parent Equity	`NetIncomeLossAllocatedToLimitedPartners`	$-12.16M	USD	2 Qtrs
Net Loss Allocable to Limited Partners or Attributable to Parent Equity	`NetIncomeLossAllocatedToLimitedPartners`	$-5.39M	USD	1 Quarter
Basic Earnings Per Common Unit or Share (in dollars per unit)	`EarningsPerShareBasic`	$-0.36	USD	1 Quarter
Basic Earnings Per Common Unit or Share (in dollars per unit)	`EarningsPerShareBasic`	$-0.88	USD	2 Qtrs
Diluted Earnings Per Common Unit or Share (in dollars per unit)	`EarningsPerShareDiluted`	$-0.88	USD	2 Qtrs
Diluted Earnings Per Common Unit or Share (in dollars per unit)	`EarningsPerShareDiluted`	$-0.36	USD	1 Quarter
Basic and Diluted Earnings per Subordinated Unit (in dollars per unit)	`NetIncomeLossPerOutstandingLimitedPartnershipSubordinatedUnitBasicAndDiluted`	$-0.88	USD	2 Qtrs
Basic and Diluted Earnings per Subordinated Unit (in dollars per unit)	`NetIncomeLossPerOutstandingLimitedPartnershipSubordinatedUnitBasicAndDiluted`	$-0.36	USD	1 Quarter
Common (in units)	`WeightedAverageLimitedPartnershipAndGeneralPartnershipUnitsOutstandingBasic`	8.86M	shares	1 Quarter
Common (in units)	`WeightedAverageLimitedPartnershipAndGeneralPartnershipUnitsOutstandingBasic`	9.37M	shares	2 Qtrs
Subordinated (in units)	`WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasic`	4.43M	shares	2 Qtrs
Subordinated (in units)	`WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasic`	5.92M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Common stock dividends (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$357.00	USD	2 Qtrs
Net loss	`ProfitLoss`	$-12.17M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-5.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.13M	USD	2 Qtrs
Bad debt provision	`ProvisionForDoubtfulAccounts`	$109.00K	USD	2 Qtrs
Commodity derivative gain	`GainLossOnSaleOfDerivatives`	$465.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$46.00K	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$-79.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.82M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$94.59M	USD	2 Qtrs
Product exchanges, net	`IncreaseDecreaseInProductExchangesNet`	$-8.86M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-209.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.49M	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccruedLiabilities`	$1.00M	USD	2 Qtrs
Advance payments received from customers	`IncreaseDecreaseInCustomerAdvances`	$25.42M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-52.79M	USD	2 Qtrs
Purchases of long-lived assets	`PaymentsToAcquireProductiveAssets`	$2.09M	USD	2 Qtrs
Cash paid for acquisitions of businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.19M	USD	2 Qtrs
Cash flows from commodity derivatives	`ProceedsFromDerivativeInstrumentInvestingActivities`	$1.33M	USD	2 Qtrs
Proceeds from sales of assets	`ProceedsFromSaleOfProductiveAssets`	$182.00K	USD	2 Qtrs
Advances to affiliates	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$92.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.87M	USD	2 Qtrs
Proceeds from sale of common units, net of offering costs	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	$75.29M	USD	2 Qtrs
Repurchase of common units	`PaymentsForRepurchaseOfCommonLimitedPartnersUnits`	$3.42M	USD	2 Qtrs
General partner contributions	`ProceedsFromPartnershipContribution`	$85.00K	USD	2 Qtrs
Proceeds from borrowings under revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$98.00M	USD	2 Qtrs
Payments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$113.00M	USD	2 Qtrs
Payments on other long-term debt	`RepaymentsOfOtherLongTermDebt`	$979.00K	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.93M	USD	2 Qtrs
Distributions to partners	`PartnersCapitalAccountDistributionsCashFlowImpact`	$6.32M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$47.73M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-7.93M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.34M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.40M	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`	$8.40M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Distribution to partners (in dollars per unit)	`DistributionMadeToMemberOrLimitedPartnerDistributionsDeclaredPerUnit`	$0.35	USD	2 Qtrs
Distribution to partners (in dollars per unit)	`DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit`	$0.17	USD	2 Qtrs
BALANCES	`PartnersCapital`	$100.77M	USD	Point-in-time
BALANCES	`PartnersCapital`	$47.35M	USD	Point-in-time
Distribution to partners ($0.35 per unit)	`PartnersCapitalAccountDistributions`	$3.85M	USD	2 Qtrs
Sale of units in public offering, net	`PartnersCapitalAccountPublicSaleOfUnits`	$75.29M	USD	2 Qtrs
Repurchase of common units	`PartnersCapitalAccountTreasuryUnitsPurchases`	$-3.42M	USD	2 Qtrs
General partner contribution	`GeneralPartnerContribution`	$85.00K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-12.17M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-5.39M	USD	1 Quarter
Distribution to partners ($0.1669 per unit)	`PartnersCapitalAccountDistributionAmount`	$2.47M	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-61.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-56.00K	USD	2 Qtrs
BALANCES	`PartnersCapital`	$100.77M	USD	Point-in-time
BALANCES	`PartnersCapital`	$47.35M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-12.17M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-5.39M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-61.00K	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-56.00K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-5.46M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-12.22M	USD	2 Qtrs

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