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10-Q Filing

NGL Energy Partners LP CIK: 1504461 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001504461-23-000045
Period End Date 20230630
Filing Date 20230809
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance ngl-20230630_htm.xml
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $816.00K USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.82M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $5.43M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.79M USD Point-in-time
Accounts receivable-trade, allowance for expected credit loss AllowanceForDoubtfulAccountsReceivable $1.96M USD Point-in-time
Accounts receivable-trade, allowance for expected credit loss AllowanceForDoubtfulAccountsReceivable $1.89M USD Point-in-time
Inventories InventoryNet $185.64M USD Point-in-time
Inventories InventoryNet $142.61M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $98.09M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $84.34M USD Point-in-time
Total current assets AssetsCurrent $1.18B USD Point-in-time
Total current assets AssetsCurrent $1.29B USD Point-in-time
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $921,300 and $898,184, respectively PropertyPlantAndEquipmentNet $2.20B USD Point-in-time
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $921,300 and $898,184, respectively PropertyPlantAndEquipmentNet $2.22B USD Point-in-time
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $921.30M USD Point-in-time
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $898.18M USD Point-in-time
GOODWILL Goodwill $712.36M USD Point-in-time
GOODWILL Goodwill $712.36M USD Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $600,613 and $580,860, respectively IntangibleAssetsNetExcludingGoodwill $1.06B USD Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $600,613 and $580,860, respectively IntangibleAssetsNetExcludingGoodwill $1.04B USD Point-in-time
INTANGIBLE ASSETS, accumulated amortization FiniteLivedIntangibleAssetsAccumulatedAmortization $580.86M USD Point-in-time
INTANGIBLE ASSETS, accumulated amortization FiniteLivedIntangibleAssetsAccumulatedAmortization $600.61M USD Point-in-time
INVESTMENTS IN UNCONSOLIDATED ENTITIES EquityMethodInvestments $20.05M USD Point-in-time
INVESTMENTS IN UNCONSOLIDATED ENTITIES EquityMethodInvestments $21.09M USD Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS OperatingLeaseRightOfUseAsset $90.22M USD Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS OperatingLeaseRightOfUseAsset $97.33M USD Point-in-time
OTHER NONCURRENT ASSETS OtherAssetsNoncurrent $57.43M USD Point-in-time
OTHER NONCURRENT ASSETS OtherAssetsNoncurrent $57.98M USD Point-in-time
Total assets Assets $5.46B USD Point-in-time
Total assets Assets $5.31B USD Point-in-time
Accrued expenses and other payables AccruedLiabilitiesCurrent $159.41M USD Point-in-time
Accrued expenses and other payables AccruedLiabilitiesCurrent $133.62M USD Point-in-time
Advance payments received from customers ContractWithCustomerLiability $14.70M USD Point-in-time
Advance payments received from customers ContractWithCustomerLiability $19.03M USD Point-in-time
Operating lease obligations OperatingLeaseLiabilityCurrent $34.17M USD Point-in-time
Operating lease obligations OperatingLeaseLiabilityCurrent $34.70M USD Point-in-time
Total current liabilities LiabilitiesCurrent $986.87M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.11B USD Point-in-time
LONG-TERM DEBT, net of debt issuance costs of $27,040 and $30,117, respectively LongTermDebtAndCapitalLeaseObligations $2.80B USD Point-in-time
LONG-TERM DEBT, net of debt issuance costs of $27,040 and $30,117, respectively LongTermDebtAndCapitalLeaseObligations $2.86B USD Point-in-time
Debt issuance costs, noncurrent, net DeferredFinanceCostsNoncurrentNet $27.04M USD Point-in-time
Debt issuance costs, noncurrent, net DeferredFinanceCostsNoncurrentNet $30.12M USD Point-in-time
OPERATING LEASE OBLIGATIONS OperatingLeaseLiabilityNoncurrent $58.45M USD Point-in-time
OPERATING LEASE OBLIGATIONS OperatingLeaseLiabilityNoncurrent $65.00M USD Point-in-time
OTHER NONCURRENT LIABILITIES OtherLiabilitiesNoncurrent $111.23M USD Point-in-time
OTHER NONCURRENT LIABILITIES OtherLiabilitiesNoncurrent $111.98M USD Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 7) CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 7) CommitmentsAndContingencies - USD Point-in-time
General partner, representing a 0.1% interest, 132,059 and 132,059 notional units, respectively GeneralPartnersCapitalAccount $-52.56M USD Point-in-time
General partner, representing a 0.1% interest, 132,059 and 132,059 notional units, respectively GeneralPartnersCapitalAccount $-52.55M USD Point-in-time
Limited partners, representing a 99.9% interest, 131,927,343 and 131,927,343 common units issued and outstanding, respectively LimitedPartnersCapitalAccount $475.35M USD Point-in-time
Limited partners, representing a 99.9% interest, 131,927,343 and 131,927,343 common units issued and outstanding, respectively LimitedPartnersCapitalAccount $455.56M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-450.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-434.00K USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $16.39M USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $16.51M USD Point-in-time
Total equity PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $787.11M USD Point-in-time
Total equity PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $767.43M USD Point-in-time
Total equity PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $737.03M USD Point-in-time
Total equity PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $714.45M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.46B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.31B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Total Revenues Revenues $1.62B USD 1 Quarter
Total Revenues Revenues $2.50B USD 1 Quarter
Total Cost of Sales CostOfGoodsAndServicesSold $1.38B USD 1 Quarter
Total Cost of Sales CostOfGoodsAndServicesSold $2.26B USD 1 Quarter
Operating OperatingCostsAndExpenses $76.68M USD 1 Quarter
Operating OperatingCostsAndExpenses $71.86M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $20.29M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $16.76M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $66.66M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $68.98M USD 1 Quarter
Gain on disposal or impairment of assets, net GainLossOnDispositionOfAssets1 $168.00K USD 1 Quarter
Gain on disposal or impairment of assets, net GainLossOnDispositionOfAssets1 $1.20M USD 1 Quarter
Operating Income OperatingIncomeLoss $87.26M USD 1 Quarter
Operating Income OperatingIncomeLoss $72.02M USD 1 Quarter
Equity in earnings of unconsolidated entities IncomeLossFromEquityMethodInvestments $91.00K USD 1 Quarter
Equity in earnings of unconsolidated entities IncomeLossFromEquityMethodInvestments $674.00K USD 1 Quarter
Interest expense InterestExpense $59.52M USD 1 Quarter
Interest expense InterestExpense $67.31M USD 1 Quarter
Gain on early extinguishment of liabilities, net GainsLossesOnExtinguishmentOfDebt $6.81M USD 1 Quarter
Gain on early extinguishment of liabilities, net GainsLossesOnExtinguishmentOfDebt $1.66M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $306.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $646.00K USD 1 Quarter
Income Before Income Taxes IncomeLossIncludingPortionAttributableToNoncontrollingInterest $22.93M USD 1 Quarter
Income Before Income Taxes IncomeLossIncludingPortionAttributableToNoncontrollingInterest $19.70M USD 1 Quarter
INCOME TAX (EXPENSE) BENEFIT IncomeTaxExpenseBenefit $140.00K USD 1 Quarter
INCOME TAX (EXPENSE) BENEFIT IncomeTaxExpenseBenefit $-172.00K USD 1 Quarter
Net Income ProfitLoss $23.11M USD 1 Quarter
Net Income ProfitLoss $19.56M USD 1 Quarter
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS NetIncomeLossAttributableToNoncontrollingInterest $262.00K USD 1 Quarter
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS NetIncomeLossAttributableToNoncontrollingInterest $245.00K USD 1 Quarter
NET INCOME ATTRIBUTABLE TO NGL ENERGY PARTNERS LP NetIncomeLoss $22.86M USD 1 Quarter
NET INCOME ATTRIBUTABLE TO NGL ENERGY PARTNERS LP NetIncomeLoss $19.30M USD 1 Quarter
NET LOSS ALLOCATED TO COMMON UNITHOLDERS (NOTE 3) NetIncomeLossAllocatedToLimitedPartners $-14.48M USD 1 Quarter
NET LOSS ALLOCATED TO COMMON UNITHOLDERS (NOTE 3) NetIncomeLossAllocatedToLimitedPartners $-4.68M USD 1 Quarter
Cash Flow Statement 80 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $23.11M USD 1 Quarter
Net income ProfitLoss $19.56M USD 1 Quarter
Depreciation and amortization, including amortization of debt issuance costs DepreciationDepletionAndAmortization $73.21M USD 1 Quarter
Depreciation and amortization, including amortization of debt issuance costs DepreciationDepletionAndAmortization $70.97M USD 1 Quarter
Gain on early extinguishment of liabilities, net GainLossOnEarlyExtinguishmentOfLiabilitiesOrRevaluationOfLiabilities $6.81M USD 1 Quarter
Gain on early extinguishment of liabilities, net GainLossOnEarlyExtinguishmentOfLiabilitiesOrRevaluationOfLiabilities $1.66M USD 1 Quarter
Equity-based compensation expense ShareBasedCompensation $474.00K USD 1 Quarter
Equity-based compensation expense ShareBasedCompensation $497.00K USD 1 Quarter
Gain on disposal or impairment of assets, net GainLossOnDispositionOfAssets1 $168.00K USD 1 Quarter
Gain on disposal or impairment of assets, net GainLossOnDispositionOfAssets1 $1.20M USD 1 Quarter
Change in provision for expected credit losses AllowanceForCreditLossPeriodIncreaseDecrease $9.00K USD 1 Quarter
Change in provision for expected credit losses AllowanceForCreditLossPeriodIncreaseDecrease $419.00K USD 1 Quarter
Net adjustments to fair value of commodity derivatives DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet $-41.07M USD 1 Quarter
Net adjustments to fair value of commodity derivatives DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet $12.89M USD 1 Quarter
Equity in earnings of unconsolidated entities IncomeLossFromEquityMethodInvestments $91.00K USD 1 Quarter
Equity in earnings of unconsolidated entities IncomeLossFromEquityMethodInvestments $674.00K USD 1 Quarter
Distributions of earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions - USD 1 Quarter
Distributions of earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $333.00K USD 1 Quarter
Lower of cost or net realizable value adjustments InventoryWriteDown $5.47M USD 1 Quarter
Lower of cost or net realizable value adjustments InventoryWriteDown $5.99M USD 1 Quarter
Other OtherNoncashIncomeExpense $-739.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-1.40M USD 1 Quarter
Accounts receivable-trade and affiliates IncreaseDecreaseInAccountsReceivable $181.34M USD 1 Quarter
Accounts receivable-trade and affiliates IncreaseDecreaseInAccountsReceivable $-141.02M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $49.02M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $55.51M USD 1 Quarter
Other current and noncurrent assets IncreaseDecreaseInOtherOperatingAssets $4.61M USD 1 Quarter
Other current and noncurrent assets IncreaseDecreaseInOtherOperatingAssets $-24.21M USD 1 Quarter
Accounts payable-trade and affiliates IncreaseDecreaseInAccountsPayable $-153.93M USD 1 Quarter
Accounts payable-trade and affiliates IncreaseDecreaseInAccountsPayable $66.93M USD 1 Quarter
Other current and noncurrent liabilities IncreaseDecreaseInOtherOperatingLiabilities $13.53M USD 1 Quarter
Other current and noncurrent liabilities IncreaseDecreaseInOtherOperatingLiabilities $37.43M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $2.49M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $55.11M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $35.80M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $41.01M USD 1 Quarter
Net settlements of commodity derivatives PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $2.27M USD 1 Quarter
Net settlements of commodity derivatives PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $-12.43M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfProductiveAssets $21.13M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfProductiveAssets $6.85M USD 1 Quarter
Investments in unconsolidated entities PaymentsToAcquireEquityMethodInvestments - USD 1 Quarter
Investments in unconsolidated entities PaymentsToAcquireEquityMethodInvestments $258.00K USD 1 Quarter
Distributions of capital from unconsolidated entities ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital - USD 1 Quarter
Distributions of capital from unconsolidated entities ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $1.06M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.44M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-36.42M USD 1 Quarter
Proceeds from borrowings under revolving credit facility ProceedsFromLongTermLinesOfCredit $528.00M USD 1 Quarter
Proceeds from borrowings under revolving credit facility ProceedsFromLongTermLinesOfCredit $552.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $486.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $497.00M USD 1 Quarter
Repayment and repurchase of senior unsecured notes PaymentsOfDebtExtinguishmentCosts $21.52M USD 1 Quarter
Repayment and repurchase of senior unsecured notes PaymentsOfDebtExtinguishmentCosts $91.98M USD 1 Quarter
Payments on other long-term debt RepaymentsOfOtherLongTermDebt - USD 1 Quarter
Payments on other long-term debt RepaymentsOfOtherLongTermDebt $630.00K USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $472.00K USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $592.00K USD 1 Quarter
Distributions to noncontrolling interest owners PaymentsOfDividendsMinorityInterest $975.00K USD 1 Quarter
Distributions to noncontrolling interest owners PaymentsOfDividendsMinorityInterest $377.00K USD 1 Quarter
Payments to settle contingent consideration liabilities PaymentForContingentConsiderationLiabilityFinancingActivities $480.00K USD 1 Quarter
Payments to settle contingent consideration liabilities PaymentForContingentConsiderationLiabilityFinancingActivities $356.00K USD 1 Quarter
Principal payments of finance lease FinanceLeasePrincipalPayments $4.00K USD 1 Quarter
Principal payments of finance lease FinanceLeasePrincipalPayments - USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-51.31M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $30.93M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $2.35M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-3.01M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $816.00K USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.82M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $5.43M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.79M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $816.00K USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.82M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $5.43M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.79M USD Point-in-time
Cash interest paid InterestPaidNet $34.17M USD 1 Quarter
Cash interest paid InterestPaidNet $25.56M USD 1 Quarter
Income taxes paid (net of income tax refunds) IncomeTaxesPaidNet $1.35M USD 1 Quarter
Income taxes paid (net of income tax refunds) IncomeTaxesPaidNet $1.75M USD 1 Quarter
Accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $20.27M USD 1 Quarter
Accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $15.32M USD 1 Quarter
Stockholders Equity 16 line items
Line Item Tag Value Unit Period
Beginning Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $787.11M USD Point-in-time
Beginning Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $767.43M USD Point-in-time
Beginning Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $737.03M USD Point-in-time
Beginning Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $714.45M USD Point-in-time
Distributions to noncontrolling interest owners MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $975.00K USD 1 Quarter
Distributions to noncontrolling interest owners MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $377.00K USD 1 Quarter
Equity issued pursuant to incentive compensation plan (Note 8) PartnersCapitalAccountUnitBasedCompensation $497.00K USD 1 Quarter
Equity issued pursuant to incentive compensation plan (Note 8) PartnersCapitalAccountUnitBasedCompensation $474.00K USD 1 Quarter
Net (loss) income NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest $19.56M USD 1 Quarter
Net (loss) income NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest $23.11M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $16.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-50.00K USD 1 Quarter
Ending Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $787.11M USD Point-in-time
Ending Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $767.43M USD Point-in-time
Ending Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $737.03M USD Point-in-time
Ending Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $714.45M USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $23.11M USD 1 Quarter
Net income ProfitLoss $19.56M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $16.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-50.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $19.58M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $23.06M USD 1 Quarter

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

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