Condensed Consolidating Financial Information | 6 Months Ended |
Jun. 30, 2014 |
Condensed Consolidating Financial Information [Abstract] | ' |
Condensed Consolidating Financial Information | ' |
16. Condensed Consolidating Financial Information |
Our $1.05 billion aggregate principal amount of senior unsecured notes co-issued by Genesis Energy, L.P. and Genesis Energy Finance Corporation are fully and unconditionally guaranteed jointly and severally by all of Genesis Energy, L.P.’s current and future 100% owned domestic subsidiaries, except Genesis Free State Pipeline, LLC, Genesis NEJD Pipeline, LLC and certain other minor subsidiaries. Genesis NEJD Pipeline, LLC is 100% owned by Genesis Energy, L.P., the parent company. The remaining non-guarantor subsidiaries are owned by Genesis Crude Oil, L.P., a guarantor subsidiary. Genesis Energy Finance Corporation has no independent assets or operations. See Note 8 for additional information regarding our consolidated debt obligations. |
The following is condensed consolidating financial information for Genesis Energy, L.P., the guarantor subsidiaries and the non-guarantor subsidiaries. |
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Unaudited Condensed Consolidating Balance Sheet |
June 30, 2014 |
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| Genesis | | Genesis | | Guarantor | | Non-Guarantor | | Eliminations | | Genesis |
Energy, L.P. | Energy Finance | Subsidiaries | Subsidiaries | Energy, L.P. |
(Parent and | Corporation | | | Consolidated |
Co-Issuer) | (Co-Issuer) | | | |
ASSETS | | | | | | | | | | | |
Current assets: | | | | | | | | | | | |
Cash and cash equivalents | $ | 10 | | | $ | — | | | $ | 13,295 | | | $ | 1,021 | | | $ | — | | | $ | 14,326 | |
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Other current assets | 1,369,932 | | | — | | | 476,342 | | | 58,779 | | | (1,399,608 | ) | | 505,445 | |
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Total current assets | 1,369,942 | | | — | | | 489,637 | | | 59,800 | | | (1,399,608 | ) | | 519,771 | |
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Fixed assets, at cost | — | | | — | | | 1,434,885 | | | 117,225 | | | — | | | 1,552,110 | |
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Less: Accumulated depreciation | — | | | — | | | (207,927 | ) | | (19,911 | ) | | — | | | (227,838 | ) |
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Net fixed assets | — | | | — | | | 1,226,958 | | | 97,314 | | | — | | | 1,324,272 | |
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Goodwill | — | | | — | | | 325,046 | | | — | | | — | | | 325,046 | |
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Other assets, net | 19,047 | | | — | | | 241,932 | | | 149,624 | | | (156,751 | ) | | 253,852 | |
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Equity investees | — | | | — | | | 620,188 | | | — | | | — | | | 620,188 | |
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Investments in subsidiaries | 1,217,721 | | | — | | | 127,397 | | | — | | | (1,345,118 | ) | | — | |
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Total assets | $ | 2,606,710 | | | $ | — | | | $ | 3,031,158 | | | $ | 306,738 | | | $ | (2,901,477 | ) | | $ | 3,043,129 | |
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LIABILITIES AND PARTNERS’ CAPITAL | | | | | | | | | | | |
Current liabilities | $ | 11,379 | | | $ | — | | | $ | 1,780,446 | | | $ | 20,217 | | | $ | (1,399,762 | ) | | $ | 412,280 | |
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Senior secured credit facility | 492,200 | | | — | | | — | | | — | | | — | | | 492,200 | |
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Senior unsecured notes | 1,050,707 | | | — | | | — | | | — | | | — | | | 1,050,707 | |
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Deferred tax liabilities | — | | | — | | | 16,797 | | | — | | | — | | | 16,797 | |
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Other liabilities | — | | | — | | | 15,028 | | | 160,271 | | | (156,578 | ) | | 18,721 | |
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Total liabilities | 1,554,286 | | | — | | | 1,812,271 | | | 180,488 | | | (1,556,340 | ) | | 1,990,705 | |
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Partners’ capital | 1,052,424 | | | — | | | 1,218,887 | | | 126,250 | | | (1,345,137 | ) | | 1,052,424 | |
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Total liabilities and partners’ capital | $ | 2,606,710 | | | $ | — | | | $ | 3,031,158 | | | $ | 306,738 | | | $ | (2,901,477 | ) | | $ | 3,043,129 | |
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Unaudited Condensed Consolidating Balance Sheet |
December 31, 2013 |
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| Genesis | | Genesis | | Guarantor | | Non-Guarantor | | Eliminations | | Genesis |
Energy, L.P. | Energy Finance | Subsidiaries | Subsidiaries | Energy, L.P. |
(Parent and | Corporation | | | Consolidated |
Co-Issuer) | (Co-Issuer) | | | |
ASSETS | | | | | | | | | | | |
Current assets: | | | | | | | | | | | |
Cash and cash equivalents | $ | 20 | | | $ | — | | | $ | 8,061 | | | $ | 785 | | | $ | — | | | $ | 8,866 | |
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Other current assets | 1,133,695 | | | — | | | 498,230 | | | 54,199 | | | (1,159,767 | ) | | 526,357 | |
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Total current assets | 1,133,715 | | | — | | | 506,291 | | | 54,984 | | | (1,159,767 | ) | | 535,223 | |
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Fixed assets, at cost | — | | | — | | | 1,211,356 | | | 116,618 | | | — | | | 1,327,974 | |
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Less: Accumulated depreciation | — | | | — | | | (181,905 | ) | | (17,325 | ) | | — | | | (199,230 | ) |
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Net fixed assets | — | | | — | | | 1,029,451 | | | 99,293 | | | — | | | 1,128,744 | |
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Goodwill | — | | | — | | | 325,046 | | | — | | | — | | | 325,046 | |
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Other assets, net | 21,432 | | | — | | | 238,282 | | | 152,413 | | | (159,185 | ) | | 252,942 | |
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Equity investees | — | | | — | | | 620,247 | | | — | | | — | | | 620,247 | |
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Investments in subsidiaries | 1,236,164 | | | — | | | 124,718 | | | — | | | (1,360,882 | ) | | — | |
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Total assets | $ | 2,391,311 | | | $ | — | | | $ | 2,844,035 | | | $ | 306,690 | | | $ | (2,679,834 | ) | | $ | 2,862,202 | |
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LIABILITIES AND PARTNERS’ CAPITAL | | | | | | | | | | | |
Current liabilities | $ | 10,002 | | | $ | — | | | $ | 1,576,186 | | | $ | 19,660 | | | $ | (1,159,295 | ) | | $ | 446,553 | |
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Senior secured credit facility | 582,800 | | | — | | | — | | | — | | | — | | | 582,800 | |
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Senior unsecured notes | 700,772 | | | — | | | — | | | — | | | — | | | 700,772 | |
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Deferred tax liabilities | — | | | — | | | 15,944 | | | — | | | — | | | 15,944 | |
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Other liabilities | — | | | — | | | 14,664 | | | 162,739 | | | (159,007 | ) | | 18,396 | |
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Total liabilities | 1,293,574 | | | — | | | 1,606,794 | | | 182,399 | | | (1,318,302 | ) | | 1,764,465 | |
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Partners’ capital | 1,097,737 | | | — | | | 1,237,241 | | | 124,291 | | | (1,361,532 | ) | | 1,097,737 | |
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Total liabilities and partners’ capital | $ | 2,391,311 | | | $ | — | | | $ | 2,844,035 | | | $ | 306,690 | | | $ | (2,679,834 | ) | | $ | 2,862,202 | |
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Unaudited Condensed Consolidating Statement of Operations |
Three Months Ended June 30, 2014 |
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| | | | | | | | | | | | | | | | | | | | | | | |
| Genesis | | Genesis | | Guarantor | | Non-Guarantor | | Eliminations | | Genesis |
Energy, L.P. | Energy Finance | Subsidiaries | Subsidiaries | Energy, L.P. |
(Parent and | Corporation | | | Consolidated |
Co-Issuer) | (Co-Issuer) | | | |
REVENUES: | | | | | | | | | | | |
Supply and logistics | $ | — | | | $ | — | | | $ | 936,331 | | | $ | 30,551 | | | $ | (27,826 | ) | | $ | 939,056 | |
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Refinery services | — | | | — | | | 51,694 | | | 4,571 | | | (3,464 | ) | | 52,801 | |
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Pipeline transportation services | — | | | — | | | 16,684 | | | 6,508 | | | — | | | 23,192 | |
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Total revenues | — | | | — | | | 1,004,709 | | | 41,630 | | | (31,290 | ) | | 1,015,049 | |
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COSTS AND EXPENSES: | | | | | | | | | | | |
Supply and logistics costs | — | | | — | | | 906,860 | | | 30,042 | | | (27,828 | ) | | 909,074 | |
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Refinery services operating costs | — | | | — | | | 30,399 | | | 4,212 | | | (3,463 | ) | | 31,148 | |
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Pipeline transportation operating costs | — | | | — | | | 7,903 | | | 480 | | | — | | | 8,383 | |
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General and administrative | — | | | — | | | 14,666 | | | 30 | | | — | | | 14,696 | |
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Depreciation and amortization | — | | | — | | | 19,181 | | | 1,310 | | | — | | | 20,491 | |
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Total costs and expenses | — | | | — | | | 979,009 | | | 36,074 | | | (31,291 | ) | | 983,792 | |
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OPERATING INCOME | — | | | — | | | 25,700 | | | 5,556 | | | 1 | | | 31,257 | |
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Equity in earnings of subsidiaries | 35,214 | | | — | | | 1,595 | | | — | | | (36,809 | ) | | — | |
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Equity in earnings of equity investees | — | | | — | | | 4,922 | | | — | | | — | | | 4,922 | |
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Interest (expense) income, net | (14,066 | ) | | — | | | 3,932 | | | (3,935 | ) | | — | | | (14,069 | ) |
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Income from continuing operations before income taxes | 21,148 | | | — | | | 36,149 | | | 1,621 | | | (36,808 | ) | | 22,110 | |
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Income tax expense | — | | | — | | | (890 | ) | | (72 | ) | | — | | | (962 | ) |
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Income from continuing operations | 21,148 | | | — | | | 35,259 | | | 1,549 | | | (36,808 | ) | | 21,148 | |
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Income from discontinued operations | — | | | — | | | — | | | — | | | — | | | — | |
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NET INCOME | $ | 21,148 | | | $ | — | | | $ | 35,259 | | | $ | 1,549 | | | $ | (36,808 | ) | | $ | 21,148 | |
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Unaudited Condensed Consolidating Statement of Operations |
Three Months Ended June 30, 2013 |
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| Genesis | | Genesis | | Guarantor | | Non-Guarantor | | Eliminations | | Genesis |
Energy, L.P. | Energy Finance | Subsidiaries | Subsidiaries | Energy, L.P. |
(Parent and | Corporation | | | Consolidated |
Co-Issuer) | (Co-Issuer) | | | |
REVENUES: | | | | | | | | | | | |
Supply and logistics | $ | — | | | $ | — | | | $ | 989,591 | | | $ | 35,124 | | | $ | (30,034 | ) | | $ | 994,681 | |
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Refinery services | — | | | — | | | 51,682 | | | 3,796 | | | (4,002 | ) | | 51,476 | |
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Pipeline transportation services | — | | | — | | | 15,731 | | | 6,806 | | | — | | | 22,537 | |
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Total revenues | — | | | — | | | 1,057,004 | | | 45,726 | | | (34,036 | ) | | 1,068,694 | |
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COSTS AND EXPENSES: | | | | | | | | | | | |
Supply and logistics costs | — | | | — | | | 965,373 | | | 33,221 | | | (30,034 | ) | | 968,560 | |
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Refinery services operating costs | — | | | — | | | 32,915 | | | 3,516 | | | (3,610 | ) | | 32,821 | |
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Pipeline transportation operating costs | — | | | — | | | 6,668 | | | 477 | | | — | | | 7,145 | |
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General and administrative | — | | | — | | | 11,115 | | | 27 | | | — | | | 11,142 | |
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Depreciation and amortization | — | | | — | | | 14,755 | | | 910 | | | — | | | 15,665 | |
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Total costs and expenses | — | | | — | | | 1,030,826 | | | 38,151 | | | (33,644 | ) | | 1,035,333 | |
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OPERATING INCOME | — | | | — | | | 26,178 | | | 7,575 | | | (392 | ) | | 33,361 | |
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Equity in earnings of subsidiaries | 39,133 | | | — | | | 3,533 | | | — | | | (42,666 | ) | | — | |
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Equity in earnings of equity investees | — | | | — | | | 5,623 | | | — | | | — | | | 5,623 | |
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Interest (expense) income, net | (12,231 | ) | | — | | | 4,029 | | | (4,053 | ) | | — | | | (12,255 | ) |
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Income from continuing operations before income taxes | 26,902 | | | — | | | 39,363 | | | 3,522 | | | (43,058 | ) | | 26,729 | |
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Income tax expense | — | | | — | | | (87 | ) | | (30 | ) | | — | | | (117 | ) |
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Income from continuing operations | 26,902 | | | — | | | 39,276 | | | 3,492 | | | (43,058 | ) | | 26,612 | |
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Income from discontinued operations | — | | | — | | | 290 | | | — | | | — | | | 290 | |
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NET INCOME | $ | 26,902 | | | $ | — | | | $ | 39,566 | | | $ | 3,492 | | | $ | (43,058 | ) | | $ | 26,902 | |
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Unaudited Condensed Consolidating Statement of Operations |
Six Months Ended June 30, 2014 |
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| Genesis | | Genesis | | Guarantor | | Non-Guarantor | | Eliminations | | Genesis |
Energy, L.P. | Energy Finance | Subsidiaries | Subsidiaries | Energy, L.P. |
(Parent and | Corporation | | | Consolidated |
Co-Issuer) | (Co-Issuer) | | | |
REVENUES: | | | | | | | | | | | |
Supply and logistics | $ | — | | | $ | — | | | $ | 1,878,368 | | | $ | 62,762 | | | $ | (57,468 | ) | | $ | 1,883,662 | |
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Refinery services | — | | | — | | | 103,424 | | | 10,645 | | | (7,075 | ) | | 106,994 | |
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Pipeline transportation services | — | | | — | | | 31,291 | | | 12,821 | | | — | | | 44,112 | |
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Total revenues | — | | | — | | | 2,013,083 | | | 86,228 | | | (64,543 | ) | | 2,034,768 | |
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COSTS AND EXPENSES: | | | | | | | | | | | |
Supply and logistics costs | — | | | — | | | 1,817,980 | | | 60,916 | | | (57,468 | ) | | 1,821,428 | |
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Refinery services operating costs | — | | | — | | | 61,990 | | | 10,058 | | | (7,705 | ) | | 64,343 | |
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Pipeline transportation operating costs | — | | | — | | | 14,958 | | | 903 | | | — | | | 15,861 | |
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General and administrative | — | | | — | | | 26,646 | | | 60 | | | — | | | 26,706 | |
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Depreciation and amortization | — | | | — | | | 37,176 | | | 2,595 | | | — | | | 39,771 | |
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Total costs and expenses | — | | | — | | | 1,958,750 | | | 74,532 | | | (65,173 | ) | | 1,968,109 | |
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OPERATING INCOME | — | | | — | | | 54,333 | | | 11,696 | | | 630 | | | 66,659 | |
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Equity in earnings of subsidiaries | 77,793 | | | — | | | 3,759 | | | — | | | (81,552 | ) | | — | |
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Equity in earnings of equity investees | — | | | — | | | 12,740 | | | — | | | — | | | 12,740 | |
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Interest (expense) income, net | (26,870 | ) | | — | | | 7,898 | | | (7,901 | ) | | — | | | (26,873 | ) |
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Income from continuing operations before income taxes | 50,923 | | | — | | | 78,730 | | | 3,795 | | | (80,922 | ) | | 52,526 | |
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Income tax expense | — | | | — | | | (1,477 | ) | | (126 | ) | | — | | | (1,603 | ) |
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Income from continuing operations | 50,923 | | | — | | | 77,253 | | | 3,669 | | | (80,922 | ) | | 50,923 | |
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Income from discontinued operations | — | | | — | | | — | | | — | | | — | | | — | |
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NET INCOME | $ | 50,923 | | | $ | — | | | $ | 77,253 | | | $ | 3,669 | | | $ | (80,922 | ) | | $ | 50,923 | |
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Unaudited Condensed Consolidating Statement of Operations |
Six Months Ended June 30, 2013 |
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| Genesis | | Genesis | | Guarantor | | Non-Guarantor | | Eliminations | | Genesis |
Energy, L.P. | Energy Finance | Subsidiaries | Subsidiaries | Energy, L.P. |
(Parent and | Corporation | | | Consolidated |
Co-Issuer) | (Co-Issuer) | | | |
REVENUES: | | | | | | | | | | | |
Supply and logistics | $ | — | | | $ | — | | | $ | 1,927,674 | | | $ | 74,069 | | | $ | (62,517 | ) | | $ | 1,939,226 | |
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Refinery services | — | | | — | | | 99,449 | | | 9,359 | | | (7,848 | ) | | 100,960 | |
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Pipeline transportation services | — | | | — | | | 29,857 | | | 13,459 | | | — | | | 43,316 | |
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Total revenues | — | | | — | | | 2,056,980 | | | 96,887 | | | (70,365 | ) | | 2,083,502 | |
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COSTS AND EXPENSES: | | | | | | | | | | | |
Supply and logistics costs | — | | | — | | | 1,882,181 | | | 67,512 | | | (62,517 | ) | | 1,887,176 | |
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Refinery services operating costs | — | | | — | | | 64,082 | | | 8,798 | | | (7,616 | ) | | 65,264 | |
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Pipeline transportation operating costs | — | | | — | | | 13,422 | | | 807 | | | — | | | 14,229 | |
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General and administrative | — | | | — | | | 22,693 | | | 60 | | | — | | | 22,753 | |
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Depreciation and amortization | — | | | — | | | 28,902 | | | 1,812 | | | — | | | 30,714 | |
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Total costs and expenses | — | | | — | | | 2,011,280 | | | 78,989 | | | (70,133 | ) | | 2,020,136 | |
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OPERATING INCOME | — | | | — | | | 45,700 | | | 17,898 | | | (232 | ) | | 63,366 | |
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Equity in earnings of subsidiaries | 73,385 | | | — | | | 9,771 | | | — | | | (83,156 | ) | | — | |
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Equity in earnings of equity investees | — | | | — | | | 9,559 | | | — | | | — | | | 9,559 | |
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Interest (expense) income, net | (23,637 | ) | | — | | | 8,076 | | | (8,135 | ) | | — | | | (23,696 | ) |
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Income from continuing operations before income taxes | 49,748 | | | — | | | 73,106 | | | 9,763 | | | (83,388 | ) | | 49,229 | |
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Income tax benefit (expense) | — | | | — | | | 170 | | | (84 | ) | | — | | | 86 | |
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Income from continuing operations | 49,748 | | | — | | | 73,276 | | | 9,679 | | | (83,388 | ) | | 49,315 | |
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Income from discontinued operations | — | | | — | | | 433 | | | — | | | — | | | 433 | |
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NET INCOME | $ | 49,748 | | | $ | — | | | $ | 73,709 | | | $ | 9,679 | | | $ | (83,388 | ) | | $ | 49,748 | |
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Unaudited Condensed Consolidating Statement of Cash Flows |
Six Months Ended June 30, 2014 |
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| Genesis | | Genesis | | Guarantor | | Non-Guarantor | | Eliminations | | Genesis |
Energy, L.P. | Energy Finance | Subsidiaries | Subsidiaries | Energy, L.P. |
(Parent and | Corporation | | | Consolidated |
Co-Issuer) | (Co-Issuer) | | | |
Net cash (used in) provided by operating activities | $ | (175,807 | ) | | $ | — | | | $ | 350,596 | | | $ | 5,007 | | | $ | (74,599 | ) | | $ | 105,197 | |
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CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | |
Payments to acquire fixed and intangible assets | — | | | — | | | (240,385 | ) | | (609 | ) | | — | | | (240,994 | ) |
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Cash distributions received from equity investees - return of investment | 23,385 | | | — | | | 6,173 | | | — | | | (23,385 | ) | | 6,173 | |
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Investments in equity investees | — | | | — | | | (14,826 | ) | | — | | | — | | | (14,826 | ) |
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Repayments on loan to non-guarantor subsidiary | — | | | — | | | 2,433 | | | — | | | (2,433 | ) | | — | |
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Proceeds from asset sales | — | | | — | | | 133 | | | — | | | — | | | 133 | |
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Other, net | — | | | — | | | (2,635 | ) | | — | | | — | | | (2,635 | ) |
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Net cash provided by (used) in investing activities | 23,385 | | | — | | | (249,107 | ) | | (609 | ) | | (25,818 | ) | | (252,149 | ) |
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CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | |
Borrowings on senior secured credit facility | 1,181,200 | | | — | | | — | | | — | | | — | | | 1,181,200 | |
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Repayments on senior secured credit facility | (1,271,800 | ) | | — | | | — | | | — | | | — | | | (1,271,800 | ) |
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Proceeds from issuance of senior unsecured notes | 350,000 | | | — | | | — | | | — | | | — | | | 350,000 | |
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Debt issuance costs | (10,752 | ) | | — | | | — | | | — | | | — | | | (10,752 | ) |
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Distributions to partners/owners | (96,236 | ) | | — | | | (96,236 | ) | | (1,768 | ) | | 98,004 | | | (96,236 | ) |
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Other, net | — | | | — | | | (19 | ) | | (2,394 | ) | | 2,413 | | | — | |
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Net cash provided by (used in) financing activities | 152,412 | | | — | | | (96,255 | ) | | (4,162 | ) | | 100,417 | | | 152,412 | |
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Net (decrease) increase in cash and cash equivalents | (10 | ) | | — | | | 5,234 | | | 236 | | | — | | | 5,460 | |
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Cash and cash equivalents at beginning of period | 20 | | | — | | | 8,061 | | | 785 | | | — | | | 8,866 | |
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Cash and cash equivalents at end of period | $ | 10 | | | $ | — | | | $ | 13,295 | | | $ | 1,021 | | | $ | — | | | $ | 14,326 | |
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Unaudited Condensed Consolidating Statement of Cash Flows |
Six Months Ended June 30, 2013 |
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| Genesis | | Genesis | | Guarantor | | Non-Guarantor | | Eliminations | | Genesis |
Energy, L.P. | Energy Finance | Subsidiaries | Subsidiaries | Energy, L.P. |
(Parent and | Corporation | | | Consolidated |
Co-Issuer) | (Co-Issuer) | | | |
Net cash (used in) provided by operating activities | $ | (86,739 | ) | | $ | — | | | $ | 245,918 | | | $ | 17,342 | | | $ | (80,735 | ) | | $ | 95,786 | |
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CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | |
Payments to acquire fixed and intangible assets | — | | | — | | | (98,050 | ) | | (9,116 | ) | | — | | | (107,166 | ) |
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Cash distributions received from equity investees - return of investment | 5,585 | | | — | | | 5,539 | | | — | | | (5,585 | ) | | 5,539 | |
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Investments in equity investees | — | | | — | | | (66,207 | ) | | — | | | — | | | (66,207 | ) |
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Repayments on loan to non-guarantor subsidiary | — | | | — | | | 2,199 | | | — | | | (2,199 | ) | | — | |
|
Proceeds from asset sales | — | | | — | | | 626 | | | — | | | — | | | 626 | |
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Other, net | — | | | — | | | 171 | | | — | | | — | | | 171 | |
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Net cash used in investing activities | 5,585 | | | — | | | (155,722 | ) | | (9,116 | ) | | (7,784 | ) | | (167,037 | ) |
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CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | |
Borrowings on senior secured credit facility | 668,500 | | | — | | | — | | | — | | | — | | | 668,500 | |
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Repayments on senior secured credit facility | (849,400 | ) | | — | | | — | | | — | | | — | | | (849,400 | ) |
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Proceeds from issuance of senior unsecured notes | 350,000 | | | — | | | — | | | — | | | — | | | 350,000 | |
|
Debt issuance costs | (8,157 | ) | | — | | | — | | | — | | | — | | | (8,157 | ) |
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Distributions to partners/owners | (79,795 | ) | | — | | | (79,795 | ) | | (6,545 | ) | | 86,340 | | | (79,795 | ) |
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Other, net | — | | | — | | | (3,382 | ) | | (1,308 | ) | | 2,179 | | | (2,511 | ) |
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Net cash provided by (used in) financing activities | 81,148 | | | — | | | (83,177 | ) | | (7,853 | ) | | 88,519 | | | 78,637 | |
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Net (decrease) increase in cash and cash equivalents | (6 | ) | | — | | | 7,019 | | | 373 | | | — | | | 7,386 | |
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Cash and cash equivalents at beginning of period | 10 | | | — | | | 11,214 | | | 58 | | | — | | | 11,282 | |
|
Cash and cash equivalents at end of period | $ | 4 | | | $ | — | | | $ | 18,233 | | | $ | 431 | | | $ | — | | | $ | 18,668 | |
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