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10-Q Filing

NGL Energy Partners LP CIK: 1504461 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001104659-14-059379
Period End Date 20140630
Filing Date 20140811
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance ngl-20140630.xml
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Accounts receivable - trade, allowance for doubtful accounts (in dollars) AllowanceForDoubtfulAccountsReceivableCurrent $2.82M USD Point-in-time
Accounts receivable - trade, allowance for doubtful accounts (in dollars) AllowanceForDoubtfulAccountsReceivableCurrent $2.73M USD Point-in-time
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation (in dollars) AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $127.63M USD Point-in-time
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation (in dollars) AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $109.56M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $11.56M USD Point-in-time
INTANGIBLE ASSETS, accumulated amortization (in dollars) FiniteLivedIntangibleAssetsAccumulatedAmortization $140.68M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.60M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $39.68M USD Point-in-time
INTANGIBLE ASSETS, accumulated amortization (in dollars) FiniteLivedIntangibleAssetsAccumulatedAmortization $116.73M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $10.44M USD Point-in-time
General partner, interest (as a percent) LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest 0.00 pure 1 Quarter
Accounts receivable - trade, net of allowance for doubtful accounts of $2,732 and $2,822, respectively AccountsReceivableNetCurrent $903.01M USD Point-in-time
Accounts receivable - trade, net of allowance for doubtful accounts of $2,732 and $2,822, respectively AccountsReceivableNetCurrent $900.90M USD Point-in-time
General partner, interest (as a percent) LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest 0.00 pure Annual
Accounts receivable - affiliates DueFromRelatedPartiesCurrent $7.45M USD Point-in-time
General partner, notional units outstanding GeneralPartnersCapitalAccountUnitsOutstanding 87,435.00 shares Point-in-time
Accounts receivable - affiliates DueFromRelatedPartiesCurrent $1.11M USD Point-in-time
General partner, notional units outstanding GeneralPartnersCapitalAccountUnitsOutstanding 79,420.00 shares Point-in-time
Limited partners, interest (as a percent) LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest 1.00 pure Annual
Inventories InventoryNet $310.16M USD Point-in-time
Inventories InventoryNet $373.63M USD Point-in-time
Limited partners, interest (as a percent) LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest 1.00 pure 1 Quarter
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $80.35M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $58.61M USD Point-in-time
Total current assets AssetsCurrent $1.38B USD Point-in-time
Total current assets AssetsCurrent $1.31B USD Point-in-time
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $127,628 and $109,564, respectively PropertyPlantAndEquipmentNet $829.35M USD Point-in-time
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $127,628 and $109,564, respectively PropertyPlantAndEquipmentNet $863.46M USD Point-in-time
GOODWILL Goodwill $1.10B USD Point-in-time
GOODWILL Goodwill $1.11B USD Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $140,677 and $116,728, respectively IntangibleAssetsNetExcludingGoodwill $699.32M USD Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $140,677 and $116,728, respectively IntangibleAssetsNetExcludingGoodwill $714.96M USD Point-in-time
INVESTMENTS IN UNCONSOLIDATED ENTITIES InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $189.82M USD Point-in-time
INVESTMENTS IN UNCONSOLIDATED ENTITIES InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $211.48M USD Point-in-time
OTHER NONCURRENT ASSETS OtherAssetsNoncurrent $13.73M USD Point-in-time
OTHER NONCURRENT ASSETS OtherAssetsNoncurrent $16.80M USD Point-in-time
Total assets Assets $4.27B USD Point-in-time
Total assets Assets $4.17B USD Point-in-time
Accounts payable - trade AccountsPayableCurrent $740.21M USD Point-in-time
Accounts payable - trade AccountsPayableCurrent $810.15M USD Point-in-time
Accounts payable - affiliates DueToRelatedPartiesCurrent $37.71M USD Point-in-time
Accounts payable - affiliates DueToRelatedPartiesCurrent $76.85M USD Point-in-time
Accrued expenses and other payables OtherLiabilitiesCurrent $123.94M USD Point-in-time
Accrued expenses and other payables OtherLiabilitiesCurrent $141.69M USD Point-in-time
Advance payments received from customers CustomerAdvancesCurrent $29.96M USD Point-in-time
Advance payments received from customers CustomerAdvancesCurrent $56.37M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $6.17M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $7.08M USD Point-in-time
Total current liabilities LiabilitiesCurrent $995.79M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.03B USD Point-in-time
LONG-TERM DEBT, net of current maturities LongTermDebtAndCapitalLeaseObligations $1.63B USD Point-in-time
LONG-TERM DEBT, net of current maturities LongTermDebtAndCapitalLeaseObligations $1.44B USD Point-in-time
OTHER NONCURRENT LIABILITIES OtherLiabilitiesNoncurrent $9.74M USD Point-in-time
OTHER NONCURRENT LIABILITIES OtherLiabilitiesNoncurrent $8.00M USD Point-in-time
COMMITMENTS AND CONTINGENCIES CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES CommitmentsAndContingencies - USD Point-in-time
General partner, representing a 0.1% interest, 87,435 and 79,420 notional units at June 30, 2014 and March 31, 2014, respectively GeneralPartnersCapitalAccount $-45.29M USD Point-in-time
General partner, representing a 0.1% interest, 87,435 and 79,420 notional units at June 30, 2014 and March 31, 2014, respectively GeneralPartnersCapitalAccount $-41.31M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-236.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-51.00K USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $5.27M USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $5.33M USD Point-in-time
Total equity PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $1.53B USD Point-in-time
Total equity PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $1.78B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.17B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.27B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Crude oil logistics OilAndGasRevenue $1.93B USD 1 Quarter
Crude oil logistics OilAndGasRevenue $930.79M USD 1 Quarter
Water solutions WaterSolutionsRevenue $20.51M USD 1 Quarter
Water solutions WaterSolutionsRevenue $47.31M USD 1 Quarter
Liquids LiquidsRevenue $360.96M USD 1 Quarter
Liquids LiquidsRevenue $475.16M USD 1 Quarter
Retail propane PropaneRevenue $72.22M USD 1 Quarter
Retail propane PropaneRevenue $77.90M USD 1 Quarter
Refined products RefinedProductsRevenue $986.22M USD 1 Quarter
Renewables RenewablesRevenue $131.27M USD 1 Quarter
Other OtherSalesRevenueNet $1.46M USD 1 Quarter
Other OtherSalesRevenueNet $1.47M USD 1 Quarter
Total Revenues SalesRevenueNet $1.39B USD 1 Quarter
Total Revenues SalesRevenueNet $3.65B USD 1 Quarter
Crude oil logistics CostOfServicesOilAndGas $909.22M USD 1 Quarter
Crude oil logistics CostOfServicesOilAndGas $1.90B USD 1 Quarter
Water solutions WaterProductionCosts $10.57M USD 1 Quarter
Water solutions WaterProductionCosts $583.00K USD 1 Quarter
Liquids CostofSalesLiquids $350.25M USD 1 Quarter
Liquids CostofSalesLiquids $462.02M USD 1 Quarter
Retail propane PropaneCosts $43.02M USD 1 Quarter
Retail propane PropaneCosts $47.52M USD 1 Quarter
Refined products CostOfSalesRefinedProducts $983.01M USD 1 Quarter
Renewables CostOfSalesRenewables $131.30M USD 1 Quarter
Other OtherUtilityCosts $1.99M USD 1 Quarter
Total Cost of Sales CostOfGoodsAndServicesSold $3.53B USD 1 Quarter
Total Cost of Sales CostOfGoodsAndServicesSold $1.30B USD 1 Quarter
Operating OperatingCostsAndExpenses $49.05M USD 1 Quarter
Operating OperatingCostsAndExpenses $67.87M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $27.87M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $18.45M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $22.72M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $39.38M USD 1 Quarter
Operating Loss OperatingIncomeLoss $-7.34M USD 1 Quarter
Operating Loss OperatingIncomeLoss $-20.55M USD 1 Quarter
Earnings of unconsolidated entities IncomeLossFromEquityMethodInvestments $2.56M USD 1 Quarter
Interest expense InterestExpense $10.62M USD 1 Quarter
Interest expense InterestExpense $20.49M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-391.00K USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $50.00K USD 1 Quarter
Loss Before Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-38.88M USD 1 Quarter
Loss Before Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-17.91M USD 1 Quarter
INCOME TAX (PROVISION) BENEFIT IncomeTaxExpenseBenefit $-406.00K USD 1 Quarter
INCOME TAX (PROVISION) BENEFIT IncomeTaxExpenseBenefit $1.03M USD 1 Quarter
Net Loss IncomeLossIncludingPortionAttributableToNoncontrollingInterest $-39.91M USD 1 Quarter
Net Loss IncomeLossIncludingPortionAttributableToNoncontrollingInterest $-17.51M USD 1 Quarter
NET INCOME ALLOCATED TO GENERAL PARTNER NetIncomeLossAllocatedToGeneralPartners $9.38M USD 1 Quarter
NET INCOME ALLOCATED TO GENERAL PARTNER NetIncomeLossAllocatedToGeneralPartners $1.69M USD 1 Quarter
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS NetIncomeLossAttributableToNoncontrollingInterest $-125.00K USD 1 Quarter
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS NetIncomeLossAttributableToNoncontrollingInterest $-65.00K USD 1 Quarter
NET LOSS ALLOCATED TO LIMITED PARTNERS NetIncomeLossAllocatedToLimitedPartners $-49.36M USD 1 Quarter
NET LOSS ALLOCATED TO LIMITED PARTNERS NetIncomeLossAllocatedToLimitedPartners $-19.32M USD 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net loss IncomeLossIncludingPortionAttributableToNoncontrollingInterest $-39.91M USD 1 Quarter
Net loss IncomeLossIncludingPortionAttributableToNoncontrollingInterest $-17.51M USD 1 Quarter
Depreciation and amortization, including debt issuance cost amortization DepreciationDepletionAndAmortization $43.42M USD 1 Quarter
Depreciation and amortization, including debt issuance cost amortization DepreciationDepletionAndAmortization $24.75M USD 1 Quarter
Non-cash equity-based compensation expense ShareBasedCompensation $7.08M USD 1 Quarter
Non-cash equity-based compensation expense ShareBasedCompensation $7.77M USD 1 Quarter
Loss on disposal of impairment of assets GainLossOnDispositionOrImpairmentOfAssets $-432.00K USD 1 Quarter
Loss on disposal of impairment of assets GainLossOnDispositionOrImpairmentOfAssets $-373.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $251.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $364.00K USD 1 Quarter
Commodity derivative loss GainLossOnSaleOfDerivatives $-17.48M USD 1 Quarter
Commodity derivative loss GainLossOnSaleOfDerivatives $-7.21M USD 1 Quarter
Earnings of unconsolidated entities IncomeLossFromEquityMethodInvestments $2.56M USD 1 Quarter
Other OtherNoncashIncomeExpense $-192.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-187.00K USD 1 Quarter
Accounts receivable - trade IncreaseDecreaseInAccountsReceivable $2.88M USD 1 Quarter
Accounts receivable - trade IncreaseDecreaseInAccountsReceivable $-17.50M USD 1 Quarter
Accounts receivable - affiliates IncreaseDecreaseInDueFromAffiliatesCurrent $-8.40M USD 1 Quarter
Accounts receivable - affiliates IncreaseDecreaseInDueFromAffiliatesCurrent $-6.33M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $81.12M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $63.54M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $14.99M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-218.00K USD 1 Quarter
Accounts payable - trade IncreaseDecreaseInAccountsPayable $35.23M USD 1 Quarter
Accounts payable - trade IncreaseDecreaseInAccountsPayable $70.11M USD 1 Quarter
Accounts payable - affiliates IncreaseDecreaseInDueToAffiliates $3.60M USD 1 Quarter
Accounts payable - affiliates IncreaseDecreaseInDueToAffiliates $-39.14M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $6.37M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-184.00K USD 1 Quarter
Advance payments received from customers IncreaseDecreaseInCustomerAdvances $12.88M USD 1 Quarter
Advance payments received from customers IncreaseDecreaseInCustomerAdvances $26.41M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $25.53M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $9.21M USD 1 Quarter
Purchases of long-lived assets PaymentsToAcquireProductiveAssets $30.19M USD 1 Quarter
Purchases of long-lived assets PaymentsToAcquireProductiveAssets $48.87M USD 1 Quarter
Acquisitions of businesses, including acquired working capital, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $15.87M USD 1 Quarter
Acquisitions of businesses, including acquired working capital, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $4.96M USD 1 Quarter
Cash flows from commodity derivatives PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $9.97M USD 1 Quarter
Cash flows from commodity derivatives PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $11.05M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfProductiveAssets $1.09M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfProductiveAssets $989.00K USD 1 Quarter
Investments in unconsolidated entities PaymentsToAcquireEquityMethodInvestments $4.09M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-77.81M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-45.12M USD 1 Quarter
Proceeds from borrowings under revolving credit facility ProceedsFromLongTermLinesOfCredit $494.50M USD 1 Quarter
Proceeds from borrowings under revolving credit facility ProceedsFromLongTermLinesOfCredit $255.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $212.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $681.00M USD 1 Quarter
Proceeds from borrowings on other long-term debt ProceedsFromIssuanceOfOtherLongTermDebt $880.00K USD 1 Quarter
Payments on other long-term debt RepaymentsOfOtherLongTermDebt $2.88M USD 1 Quarter
Payments on other long-term debt RepaymentsOfOtherLongTermDebt $2.35M USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $2.21M USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $2.19M USD 1 Quarter
Contributions ProceedsFromPartnershipContribution $352.00K USD 1 Quarter
Contributions ProceedsFromPartnershipContribution $1.00M USD 1 Quarter
Distributions PartnersCapitalAccountDistributions $-27.16M USD 1 Quarter
Distributions PartnersCapitalAccountDistributions $-49.50M USD 1 Quarter
Proceeds from sale of common units, net of offering costs ProceedsFromIssuanceOfCommonLimitedPartnersUnits $338.03M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $97.84M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $12.63M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents NetCashProvidedByUsedInContinuingOperations $29.24M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents NetCashProvidedByUsedInContinuingOperations $-6.96M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $11.56M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $4.60M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $39.68M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $10.44M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $11.56M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $4.60M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $39.68M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $10.44M USD Point-in-time
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
BALANCES PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $1.53B USD Point-in-time
BALANCES PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $1.78B USD Point-in-time
Distributions PartnersCapitalAccountDistributionsExcludingIncentiveDistributions $49.50M USD 1 Quarter
Contributions PartnersCapitalAccountContributions $352.00K USD 1 Quarter
Sales of units, net of issuance costs PartnersCapitalAccountPublicSaleOfUnits $338.03M USD 1 Quarter
Equity issued pursuant to incentive compensation plan PartnersCapitalAccountUnitBasedCompensation $282.00K USD 1 Quarter
Net income (loss) IncomeLossIncludingPortionAttributableToNoncontrollingInterest $-39.91M USD 1 Quarter
Net income (loss) IncomeLossIncludingPortionAttributableToNoncontrollingInterest $-17.51M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $185.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-25.00K USD 1 Quarter
BALANCES PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $1.53B USD Point-in-time
BALANCES PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $1.78B USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net loss IncomeLossIncludingPortionAttributableToNoncontrollingInterest $-39.91M USD 1 Quarter
Net loss IncomeLossIncludingPortionAttributableToNoncontrollingInterest $-17.51M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $185.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-25.00K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-39.73M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-17.53M USD 1 Quarter

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

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