10-Q Filing

NUSTAR ENERGY L.P. CIK: 1110805 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001110805-19-000072`
Period End Date	20190331
Filing Date	20190510
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	ns-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 34 Cash Flow Statement 68 Stockholders Equity 29

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.82M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $11,702 and $9,412 as of March 31, 2019 and December 31, 2018, respectively	`AccountsReceivableNetCurrent`	$148.31M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $11,702 and $9,412 as of March 31, 2019 and December 31, 2018, respectively	`AccountsReceivableNetCurrent`	$163.74M	USD	Point-in-time
Inventories	`InventoryNet`	$22.71M	USD	Point-in-time
Inventories	`InventoryNet`	$25.02M	USD	Point-in-time
Prepaid and other current assets	`OtherPrepaidExpenseCurrent`	$21.36M	USD	Point-in-time
Prepaid and other current assets	`OtherPrepaidExpenseCurrent`	$17.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$202.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$225.94M	USD	Point-in-time
Property, plant and equipment, at cost	`PropertyPlantAndEquipmentGross`	$6.05B	USD	Point-in-time
Property, plant and equipment, at cost	`PropertyPlantAndEquipmentGross`	$6.34B	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.91B	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.05B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.29B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.14B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$733.06M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$720.20M	USD	Point-in-time
Goodwill	`Goodwill`	$1.04B	USD	Point-in-time
Goodwill	`Goodwill`	$1.01B	USD	Point-in-time
Other long-term assets, net	`OtherAssetsNoncurrent`	$88.33M	USD	Point-in-time
Other long-term assets, net	`OtherAssetsNoncurrent`	$220.64M	USD	Point-in-time
Total assets	`Assets`	$6.35B	USD	Point-in-time
Total assets	`Assets`	$6.32B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$143.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$176.87M	USD	Point-in-time
Short-term debt and current portion of finance leases	`ShortTermBorrowings`	$9.34M	USD	Point-in-time
Short-term debt and current portion of finance leases	`ShortTermBorrowings`	$18.50M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$31.16M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$36.29M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$82.73M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$101.99M	USD	Point-in-time
Taxes other than income tax	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$19.08M	USD	Point-in-time
Taxes other than income tax	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$16.14M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$4.45M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$5.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$321.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$323.44M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$3.33B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$3.11B	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$12.43M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$11.79M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$79.56M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$193.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.86B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.53B	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series D preferred limited partners (23,246,650 preferred units outstanding as of March 31, 2019 and December 31, 2018) (Note 10)	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$563.99M	USD	Point-in-time
Series D preferred limited partners (23,246,650 preferred units outstanding as of March 31, 2019 and December 31, 2018) (Note 10)	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$568.29M	USD	Point-in-time
Preferred limited partners (9,060,000 Series A preferred units, 15,400,000 Series B preferred units and 6,900,000 Series C preferred units outstanding as of March 31, 2019 and December 31, 2018)	`PreferredUnitsPreferredPartnersCapitalAccounts`	$756.30M	USD	Point-in-time
Preferred limited partners (9,060,000 Series A preferred units, 15,400,000 Series B preferred units and 6,900,000 Series C preferred units outstanding as of March 31, 2019 and December 31, 2018)	`PreferredUnitsPreferredPartnersCapitalAccounts`	$756.30M	USD	Point-in-time
Common limited partners (107,762,875 and 107,225,156 common units outstanding as of March 31, 2019 and December 31, 2018, respectively)	`LimitedPartnersCapitalAccount`	$1.56B	USD	Point-in-time
Common limited partners (107,762,875 and 107,225,156 common units outstanding as of March 31, 2019 and December 31, 2018, respectively)	`LimitedPartnersCapitalAccount`	$1.19B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-54.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-59.70M	USD	Point-in-time
Total partners equity	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$1.89B	USD	Point-in-time
Total partners equity	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$2.26B	USD	Point-in-time
Total liabilities, mezzanine equity and partners equity	`LiabilitiesAndStockholdersEquity`	$6.32B	USD	Point-in-time
Total liabilities, mezzanine equity and partners equity	`LiabilitiesAndStockholdersEquity`	$6.35B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$475.88M	USD	1 Quarter
Total revenues	`Revenues`	$486.47M	USD	1 Quarter
Operating expenses (excluding depreciation and amortization expense)	`DirectOperatingCosts`	$113.94M	USD	1 Quarter
Operating expenses (excluding depreciation and amortization expense)	`DirectOperatingCosts`	$108.88M	USD	1 Quarter
Depreciation and amortization expense	`CostOfGoodsAndServicesSoldDepreciationAndAmortization`	$69.90M	USD	1 Quarter
Depreciation and amortization expense	`CostOfGoodsAndServicesSoldDepreciationAndAmortization`	$72.29M	USD	1 Quarter
Asset impairment loss	`OtherAssetImpairmentCharges`	$297.32M	USD	1 Quarter
Asset impairment loss	`OtherAssetImpairmentCharges`	-	USD	1 Quarter
Goodwill impairment loss	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Goodwill impairment loss	`GoodwillImpairmentLoss`	$31.12M	USD	1 Quarter
General and administrative expenses (excluding depreciation and amortization expense)	`GeneralAndAdministrativeExpense`	$26.00M	USD	1 Quarter
General and administrative expenses (excluding depreciation and amortization expense)	`GeneralAndAdministrativeExpense`	$19.77M	USD	1 Quarter
Other depreciation and amortization expense	`OtherDepreciationAndAmortization`	$2.12M	USD	1 Quarter
Other depreciation and amortization expense	`OtherDepreciationAndAmortization`	$2.12M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$377.40M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$719.57M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$98.48M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-233.10M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-44.27M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-47.77M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$79.75M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$787.00K	USD	1 Quarter
Income (loss) before income tax expense	`IncomeLossAttributableToParent`	$130.46M	USD	1 Quarter
Income (loss) before income tax expense	`IncomeLossAttributableToParent`	$-276.58M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.28M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.33M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$126.13M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-277.86M	USD	1 Quarter
Basic net (loss) income per common unit	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$1.15	USD	1 Quarter
Basic net (loss) income per common unit	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$-2.91	USD	1 Quarter
Basic weighted-average common units outstanding	`WeightedAverageLimitedPartnershipUnitsOutstanding`	107.53M	shares	1 Quarter
Basic weighted-average common units outstanding	`WeightedAverageLimitedPartnershipUnitsOutstanding`	93.18M	shares	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-282.69M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$147.06M	USD	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$126.13M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-277.86M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$72.02M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$74.41M	USD	1 Quarter
Unit-based compensation expense	`ShareBasedCompensation`	$2.98M	USD	1 Quarter
Unit-based compensation expense	`ShareBasedCompensation`	$2.09M	USD	1 Quarter
Amortization of debt related items	`AmortizationOfFinancingCostsAndDiscounts`	$1.31M	USD	1 Quarter
Amortization of debt related items	`AmortizationOfFinancingCostsAndDiscounts`	$1.41M	USD	1 Quarter
Asset impairment loss	`OtherAssetImpairmentCharges`	$297.32M	USD	1 Quarter
Asset impairment loss	`OtherAssetImpairmentCharges`	-	USD	1 Quarter
Goodwill impairment loss	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Goodwill impairment loss	`GoodwillImpairmentLoss`	$31.12M	USD	1 Quarter
Gain from insurance recoveries	`GainfromInsuranceRecoveries`	-	USD	1 Quarter
Gain from insurance recoveries	`GainfromInsuranceRecoveries`	$78.76M	USD	1 Quarter
Deferred income tax (benefit) expense	`DeferredIncomeTaxExpenseBenefit`	$-847.00K	USD	1 Quarter
Deferred income tax (benefit) expense	`DeferredIncomeTaxExpenseBenefit`	$842.00K	USD	1 Quarter
Changes in current assets and current liabilities (Note 13)	`IncreaseDecreaseInOperatingCapital`	$33.40M	USD	1 Quarter
Changes in current assets and current liabilities (Note 13)	`IncreaseDecreaseInOperatingCapital`	$-10.69M	USD	1 Quarter
Increase in other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$829.00K	USD	1 Quarter
Increase in other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$74.00K	USD	1 Quarter
Increase (decrease) in other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-10.21M	USD	1 Quarter
Increase (decrease) in other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$9.28M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$222.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$658.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$123.16M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$103.57M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$159.43M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$137.87M	USD	1 Quarter
Change in accounts payable related to capital expenditures	`IncreaseDecreaseinAccountsPayableRelatedtoCapitalExpenditures`	$19.40M	USD	1 Quarter
Change in accounts payable related to capital expenditures	`IncreaseDecreaseinAccountsPayableRelatedtoCapitalExpenditures`	$-12.02M	USD	1 Quarter
Proceeds from sale or disposition of assets	`ProceedsFromSaleOfProductiveAssets`	$79.00K	USD	1 Quarter
Proceeds from sale or disposition of assets	`ProceedsFromSaleOfProductiveAssets`	$19.00K	USD	1 Quarter
Proceeds from insurance recoveries	`ProceedsFromInsuranceSettlementInvestingActivities`	$78.42M	USD	1 Quarter
Proceeds from insurance recoveries	`ProceedsFromInsuranceSettlementInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-71.45M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-139.95M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$119.71M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$230.00M	USD	1 Quarter
Proceeds from short-term debt borrowings	`ProceedsFromShortTermDebt`	$230.00M	USD	1 Quarter
Proceeds from short-term debt borrowings	`ProceedsFromShortTermDebt`	$81.50M	USD	1 Quarter
Long-term debt repayments	`RepaymentsOfLongTermDebt`	$63.60M	USD	1 Quarter
Long-term debt repayments	`RepaymentsOfLongTermDebt`	$79.42M	USD	1 Quarter
Short-term debt repayments	`RepaymentsOfShortTermDebt`	$94.50M	USD	1 Quarter
Short-term debt repayments	`RepaymentsOfShortTermDebt`	$195.00M	USD	1 Quarter
Distributions to preferred unitholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$30.42M	USD	1 Quarter
Distributions to preferred unitholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$16.68M	USD	1 Quarter
Distributions to common unitholders and general partner	`PaymentsOfDividendsCommonStock`	$64.37M	USD	1 Quarter
Distributions to common unitholders and general partner	`PaymentsOfDividendsCommonStock`	$115.27M	USD	1 Quarter
Payment of tax withholding for unit-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$51.00K	USD	1 Quarter
Payment of tax withholding for unit-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$6.37M	USD	1 Quarter
Decrease in cash book overdrafts	`IncreaseDecreaseInBookOverdrafts`	$-3.61M	USD	1 Quarter
Decrease in cash book overdrafts	`IncreaseDecreaseInBookOverdrafts`	$-1.01M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.52M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-3.12M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$47.12M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-60.85M	USD	1 Quarter
Effect of foreign exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$154.00K	USD	1 Quarter
Effect of foreign exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-28.00K	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.89M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.16M	USD	1 Quarter
Cash, cash equivalents and restricted cash as of the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.64M	USD	Point-in-time
Cash, cash equivalents and restricted cash as of the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.13M	USD	Point-in-time
Cash, cash equivalents and restricted cash as of the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.53M	USD	Point-in-time
Cash, cash equivalents and restricted cash as of the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.29M	USD	Point-in-time
Cash, cash equivalents and restricted cash as of the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.64M	USD	Point-in-time
Cash, cash equivalents and restricted cash as of the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.13M	USD	Point-in-time
Cash, cash equivalents and restricted cash as of the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.53M	USD	Point-in-time
Cash, cash equivalents and restricted cash as of the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.29M	USD	Point-in-time

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Partners' capital - beginning balance	`PartnersCapital`	$2.49B	USD	Point-in-time
Partners' capital - beginning balance	`PartnersCapital`	$2.48B	USD	Point-in-time
Partners' capital - beginning balance	`PartnersCapital`	$1.89B	USD	Point-in-time
Partners' capital - beginning balance	`PartnersCapital`	$2.26B	USD	Point-in-time
Temporary equity - beginning balance	`TemporaryEquityCarryingAmountAttributableToParent`	$563.99M	USD	Point-in-time
Temporary equity - beginning balance	`TemporaryEquityCarryingAmountAttributableToParent`	$568.29M	USD	Point-in-time
Partners' capital and temporary equity - beginning balance	`PartnersCapitalandTemporaryEquity`	$2.82B	USD	Point-in-time
Partners' capital and temporary equity - beginning balance	`PartnersCapitalandTemporaryEquity`	$2.46B	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$126.13M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-277.86M	USD	1 Quarter
Net income (loss) excluding portion attributable to temporary equity	`NetIncomeLossExcludingPortionAttributableToTemporaryEquity`	$-292.25M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-4.83M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$20.92M	USD	1 Quarter
Unit-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$1.29M	USD	1 Quarter
Unit-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$13.54M	USD	1 Quarter
Series D Preferred Unit accretion, common (refer to Note 11 for discussion)	`PreferredStockAccretionOfRedemptionDiscount`	$4.30M	USD	1 Quarter
Series D Preferred Unit accretion, common (refer to Note 11 for discussion)	`PreferredStockAccretionOfRedemptionDiscount`	-	USD	1 Quarter
Series D Preferred Unit accretion, total (refer to Note 11 for discussion)	`PreferredStockAccretionofRedemptionDiscountIncludingTemporaryEquity`	-	USD	1 Quarter
Other	`PartnersCapitalOther`	$-813.00K	USD	1 Quarter
Other	`PartnersCapitalOther`	$-5.11M	USD	1 Quarter
Other, including temporary equity	`PartnersCapitalOtherIncludingTemporaryEquity`	$-814.00K	USD	1 Quarter
Partners' capital - ending balance	`PartnersCapital`	$2.49B	USD	Point-in-time
Partners' capital - ending balance	`PartnersCapital`	$2.48B	USD	Point-in-time
Partners' capital - ending balance	`PartnersCapital`	$1.89B	USD	Point-in-time
Partners' capital - ending balance	`PartnersCapital`	$2.26B	USD	Point-in-time
Temporary equity - ending balance	`TemporaryEquityCarryingAmountAttributableToParent`	$563.99M	USD	Point-in-time
Temporary equity - ending balance	`TemporaryEquityCarryingAmountAttributableToParent`	$568.29M	USD	Point-in-time
Partners' capital and temporary equity - ending balance	`PartnersCapitalandTemporaryEquity`	$2.82B	USD	Point-in-time
Partners' capital and temporary equity - ending balance	`PartnersCapitalandTemporaryEquity`	$2.46B	USD	Point-in-time

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