Condensed Consolidating Financial Information | 9 Months Ended |
Sep. 30, 2014 |
Condensed Consolidating Financial Information [Abstract] | ' |
Condensed Consolidating Financial Information | ' |
17. 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 |
September 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 | $ | 9 | | | $ | — | | | $ | 16,240 | | | $ | 676 | | | $ | — | | | $ | 16,925 | |
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Other current assets | 1,189,487 | | | — | | | 429,295 | | | 55,263 | | | (1,221,663 | ) | | 452,382 | |
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Total current assets | 1,189,496 | | | — | | | 445,535 | | | 55,939 | | | (1,221,663 | ) | | 469,307 | |
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Fixed assets, at cost | — | | | — | | | 1,545,752 | | | 122,379 | | | — | | | 1,668,131 | |
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Less: Accumulated depreciation | — | | | — | | | (226,936 | ) | | (21,209 | ) | | — | | | (248,145 | ) |
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Net fixed assets | — | | | — | | | 1,318,816 | | | 101,170 | | | — | | | 1,419,986 | |
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Goodwill | — | | | — | | | 325,046 | | | — | | | — | | | 325,046 | |
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Other assets, net | 29,585 | | | — | | | 236,933 | | | 148,196 | | | (155,488 | ) | | 259,226 | |
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Equity investees | — | | | — | | | 639,047 | | | — | | | — | | | 639,047 | |
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Investments in subsidiaries | 1,442,767 | | | — | | | 127,585 | | | — | | | (1,570,352 | ) | | — | |
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Total assets | $ | 2,661,848 | | | $ | — | | | $ | 3,092,962 | | | $ | 305,305 | | | $ | (2,947,503 | ) | | $ | 3,112,612 | |
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LIABILITIES AND PARTNERS’ CAPITAL | | | | | | | | | | | |
Current liabilities | $ | 19,142 | | | $ | — | | | $ | 1,616,529 | | | $ | 19,477 | | | $ | (1,221,251 | ) | | $ | 433,897 | |
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Senior secured credit facility | 335,000 | | | — | | | — | | | — | | | — | | | 335,000 | |
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Senior unsecured notes | 1,050,673 | | | — | | | — | | | — | | | — | | | 1,050,673 | |
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Deferred tax liabilities | — | | | — | | | 17,178 | | | — | | | — | | | 17,178 | |
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Other liabilities | — | | | — | | | 15,277 | | | 158,870 | | | (155,316 | ) | | 18,831 | |
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Total liabilities | 1,404,815 | | | — | | | 1,648,984 | | | 178,347 | | | (1,376,567 | ) | | 1,855,579 | |
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Partners’ capital | 1,257,033 | | | — | | | 1,443,978 | | | 126,958 | | | (1,570,936 | ) | | 1,257,033 | |
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Total liabilities and partners’ capital | $ | 2,661,848 | | | $ | — | | | $ | 3,092,962 | | | $ | 305,305 | | | $ | (2,947,503 | ) | | $ | 3,112,612 | |
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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 September 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 | $ | — | | | $ | — | | | $ | 887,709 | | | $ | 22,104 | | | $ | (18,230 | ) | | $ | 891,583 | |
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Refinery services | — | | | — | | | 52,046 | | | 2,193 | | | (3,031 | ) | | 51,208 | |
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Pipeline transportation services | — | | | — | | | 15,313 | | | 6,010 | | | — | | | 21,323 | |
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Total revenues | — | | | — | | | 955,068 | | | 30,307 | | | (21,261 | ) | | 964,114 | |
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COSTS AND EXPENSES: | | | | | | | | | | | |
Supply and logistics costs | — | | | — | | | 849,337 | | | 22,601 | | | (18,229 | ) | | 853,709 | |
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Refinery services operating costs | — | | | — | | | 29,332 | | | 2,167 | | | (2,468 | ) | | 29,031 | |
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Pipeline transportation operating costs | — | | | — | | | 6,820 | | | 373 | | | — | | | 7,193 | |
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General and administrative | — | | | — | | | 13,735 | | | 30 | | | — | | | 13,765 | |
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Depreciation and amortization | — | | | — | | | 23,841 | | | 1,307 | | | — | | | 25,148 | |
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Total costs and expenses | — | | | — | | | 923,065 | | | 26,478 | | | (20,697 | ) | | 928,846 | |
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OPERATING INCOME | — | | | — | | | 32,003 | | | 3,829 | | | (564 | ) | | 35,268 | |
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Equity in earnings of subsidiaries | 49,550 | | | — | | | 223 | | | — | | | (49,773 | ) | | — | |
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Equity in earnings of equity investees | — | | | — | | | 15,017 | | | — | | | — | | | 15,017 | |
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Interest (expense) income, net | (20,437 | ) | | — | | | 3,900 | | | (3,904 | ) | | — | | | (20,441 | ) |
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Income from continuing operations before income taxes | 29,113 | | | — | | | 51,143 | | | (75 | ) | | (50,337 | ) | | 29,844 | |
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Income tax expense | — | | | — | | | (985 | ) | | 254 | | | — | | | (731 | ) |
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Income from continuing operations | 29,113 | | | — | | | 50,158 | | | 179 | | | (50,337 | ) | | 29,113 | |
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Income from discontinued operations | — | | | — | | | — | | | — | | | — | | | — | |
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NET INCOME | $ | 29,113 | | | $ | — | | | $ | 50,158 | | | $ | 179 | | | $ | (50,337 | ) | | $ | 29,113 | |
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Unaudited Condensed Consolidating Statement of Operations |
Three Months Ended September 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 | $ | — | | | $ | — | | | $ | 1,013,036 | | | $ | 38,908 | | | $ | (37,278 | ) | | $ | 1,014,666 | |
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Refinery services | — | | | — | | | 50,609 | | | 4,199 | | | (2,398 | ) | | 52,410 | |
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Pipeline transportation services | — | | | — | | | 16,604 | | | 6,613 | | | — | | | 23,217 | |
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Total revenues | — | | | — | | | 1,080,249 | | | 49,720 | | | (39,676 | ) | | 1,090,293 | |
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COSTS AND EXPENSES: | | | | | | | | | | | |
Supply and logistics costs | — | | | — | | | 996,937 | | | 39,201 | | | (37,278 | ) | | 998,860 | |
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Refinery services operating costs | — | | | — | | | 31,840 | | | 3,862 | | | (2,662 | ) | | 33,040 | |
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Pipeline transportation operating costs | — | | | — | | | 6,075 | | | 203 | | | — | | | 6,278 | |
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General and administrative | — | | | — | | | 11,927 | | | 32 | | | — | | | 11,959 | |
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Depreciation and amortization | — | | | — | | | 14,789 | | | 1,277 | | | — | | | 16,066 | |
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Total costs and expenses | — | | | — | | | 1,061,568 | | | 44,575 | | | (39,940 | ) | | 1,066,203 | |
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OPERATING INCOME | — | | | — | | | 18,681 | | | 5,145 | | | 264 | | | 24,090 | |
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Equity in earnings of subsidiaries | 31,046 | | | — | | | 1,078 | | | — | | | (32,124 | ) | | — | |
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Equity in earnings of equity investees | — | | | — | | | 7,059 | | | — | | | — | | | 7,059 | |
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Interest (expense) income, net | (12,572 | ) | | — | | | 4,011 | | | (4,026 | ) | | — | | | (12,587 | ) |
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Income from continuing operations before income taxes | 18,474 | | | — | | | 30,829 | | | 1,119 | | | (31,860 | ) | | 18,562 | |
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Income tax expense | — | | | — | | | (505 | ) | | (91 | ) | | — | | | (596 | ) |
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Income from continuing operations | 18,474 | | | — | | | 30,324 | | | 1,028 | | | (31,860 | ) | | 17,966 | |
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Income from discontinued operations | — | | | — | | | 508 | | | — | | | — | | | 508 | |
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NET INCOME | $ | 18,474 | | | $ | — | | | $ | 30,832 | | | $ | 1,028 | | | $ | (31,860 | ) | | $ | 18,474 | |
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Unaudited Condensed Consolidating Statement of Operations |
Nine Months Ended September 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 | $ | — | | | $ | — | | | $ | 2,766,077 | | | $ | 84,866 | | | $ | (75,698 | ) | | $ | 2,775,245 | |
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Refinery services | — | | | — | | | 155,470 | | | 12,838 | | | (10,106 | ) | | 158,202 | |
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Pipeline transportation services | — | | | — | | | 46,604 | | | 18,831 | | | — | | | 65,435 | |
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Total revenues | — | | | — | | | 2,968,151 | | | 116,535 | | | (85,804 | ) | | 2,998,882 | |
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COSTS AND EXPENSES: | | | | | | | | | | | |
Supply and logistics costs | — | | | — | | | 2,667,317 | | | 83,517 | | | (75,697 | ) | | 2,675,137 | |
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Refinery services operating costs | — | | | — | | | 91,322 | | | 12,225 | | | (10,173 | ) | | 93,374 | |
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Pipeline transportation operating costs | — | | | — | | | 21,778 | | | 1,276 | | | — | | | 23,054 | |
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General and administrative | — | | | — | | | 40,381 | | | 90 | | | — | | | 40,471 | |
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Depreciation and amortization | — | | | — | | | 61,017 | | | 3,902 | | | — | | | 64,919 | |
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Total costs and expenses | — | | | — | | | 2,881,815 | | | 101,010 | | | (85,870 | ) | | 2,896,955 | |
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OPERATING INCOME | — | | | — | | | 86,336 | | | 15,525 | | | 66 | | | 101,927 | |
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Equity in earnings of subsidiaries | 127,343 | | | — | | | 3,982 | | | — | | | (131,325 | ) | | — | |
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Equity in earnings of equity investees | — | | | — | | | 27,757 | | | — | | | — | | | 27,757 | |
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Interest (expense) income, net | (47,307 | ) | | — | | | 11,798 | | | (11,805 | ) | | — | | | (47,314 | ) |
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Income from continuing operations before income taxes | 80,036 | | | — | | | 129,873 | | | 3,720 | | | (131,259 | ) | | 82,370 | |
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Income tax expense | — | | | — | | | (2,462 | ) | | 128 | | | — | | | (2,334 | ) |
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Income from continuing operations | 80,036 | | | — | | | 127,411 | | | 3,848 | | | (131,259 | ) | | 80,036 | |
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Income from discontinued operations | — | | | — | | | — | | | — | | | — | | | — | |
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NET INCOME | $ | 80,036 | | | $ | — | | | $ | 127,411 | | | $ | 3,848 | | | $ | (131,259 | ) | | $ | 80,036 | |
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Unaudited Condensed Consolidating Statement of Operations |
Nine Months Ended September 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 | $ | — | | | $ | — | | | $ | 2,940,710 | | | $ | 112,977 | | | $ | (99,795 | ) | | $ | 2,953,892 | |
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Refinery services | — | | | — | | | 150,058 | | | 13,558 | | | (10,246 | ) | | 153,370 | |
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Pipeline transportation services | — | | | — | | | 46,461 | | | 20,072 | | | — | | | 66,533 | |
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Total revenues | — | | | — | | | 3,137,229 | | | 146,607 | | | (110,041 | ) | | 3,173,795 | |
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COSTS AND EXPENSES: | | | | | | | | | | | |
Supply and logistics costs | — | | | — | | | 2,879,118 | | | 106,713 | | | (99,795 | ) | | 2,886,036 | |
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Refinery services operating costs | — | | | — | | | 95,922 | | | 12,660 | | | (10,278 | ) | | 98,304 | |
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Pipeline transportation operating costs | — | | | — | | | 19,497 | | | 1,010 | | | — | | | 20,507 | |
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General and administrative | — | | | — | | | 34,620 | | | 92 | | | — | | | 34,712 | |
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Depreciation and amortization | — | | | — | | | 43,691 | | | 3,089 | | | — | | | 46,780 | |
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Total costs and expenses | — | | | — | | | 3,072,848 | | | 123,564 | | | (110,073 | ) | | 3,086,339 | |
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OPERATING INCOME | — | | | — | | | 64,381 | | | 23,043 | | | 32 | | | 87,456 | |
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Equity in earnings of subsidiaries | 104,431 | | | — | | | 10,849 | | | — | | | (115,280 | ) | | — | |
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Equity in earnings of equity investees | — | | | — | | | 16,618 | | | — | | | — | | | 16,618 | |
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Interest (expense) income, net | (36,209 | ) | | — | | | 12,087 | | | (12,161 | ) | | — | | | (36,283 | ) |
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Income from continuing operations before income taxes | 68,222 | | | — | | | 103,935 | | | 10,882 | | | (115,248 | ) | | 67,791 | |
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Income tax benefit (expense) | — | | | — | | | (335 | ) | | (175 | ) | | — | | | (510 | ) |
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Income from continuing operations | 68,222 | | | — | | | 103,600 | | | 10,707 | | | (115,248 | ) | | 67,281 | |
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Income from discontinued operations | — | | | — | | | 941 | | | — | | | — | | | 941 | |
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NET INCOME | $ | 68,222 | | | $ | — | | | $ | 104,541 | | | $ | 10,707 | | | $ | (115,248 | ) | | $ | 68,222 | |
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Unaudited Condensed Consolidating Statement of Cash Flows |
Nine Months Ended September 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 | $ | 17,760 | | | $ | — | | | $ | 288,988 | | | $ | 10,706 | | | $ | (109,335 | ) | | $ | 208,119 | |
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CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | |
Payments to acquire fixed and intangible assets | — | | | — | | | (330,287 | ) | | (5,774 | ) | | — | | | (336,061 | ) |
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Cash distributions received from equity investees - return of investment | 38,236 | | | — | | | 11,353 | | | — | | | (38,237 | ) | | 11,352 | |
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Investments in equity investees | (225,610 | ) | | — | | | (40,426 | ) | | — | | | 225,610 | | | (40,426 | ) |
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Repayments on loan to non-guarantor subsidiary | — | | | — | | | 3,697 | | | — | | | (3,697 | ) | | — | |
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Proceeds from asset sales | — | | | — | | | 178 | | | — | | | — | | | 178 | |
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Other, net | — | | | — | | | (4,690 | ) | | (16 | ) | | — | | | (4,706 | ) |
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Net cash provided by (used) in investing activities | (187,374 | ) | | — | | | (360,175 | ) | | (5,790 | ) | | 183,676 | | | (369,663 | ) |
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CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | |
Borrowings on senior secured credit facility | 1,420,900 | | | — | | | — | | | — | | | — | | | 1,420,900 | |
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Repayments on senior secured credit facility | (1,668,700 | ) | | — | | | — | | | — | | | — | | | (1,668,700 | ) |
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Proceeds from issuance of senior unsecured notes | 350,000 | | | — | | | — | | | — | | | — | | | 350,000 | |
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Debt issuance costs | (11,857 | ) | | — | | | — | | | — | | | — | | | (11,857 | ) |
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Issuance of common units for cash, net | 225,610 | | | — | | | 225,610 | | | — | | | (225,610 | ) | | 225,610 | |
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Distributions to partners/owners | (146,350 | ) | | — | | | (146,350 | ) | | (1,253 | ) | | 147,603 | | | (146,350 | ) |
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Other, net | — | | | — | | | 106 | | | (3,772 | ) | | 3,666 | | | — | |
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Net cash provided by (used in) financing activities | 169,603 | | | — | | | 79,366 | | | (5,025 | ) | | (74,341 | ) | | 169,603 | |
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Net (decrease) increase in cash and cash equivalents | (11 | ) | | — | | | 8,179 | | | (109 | ) | | — | | | 8,059 | |
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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 | $ | 9 | | | $ | — | | | $ | 16,240 | | | $ | 676 | | | $ | — | | | $ | 16,925 | |
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Unaudited Condensed Consolidating Statement of Cash Flows |
Nine Months Ended September 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 | $ | (139,747 | ) | | $ | — | | | $ | 348,447 | | | $ | 20,540 | | | $ | (119,902 | ) | | $ | 109,338 | |
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CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | |
Payments to acquire fixed and intangible assets | — | | | — | | | (188,878 | ) | | (10,756 | ) | | — | | | (199,634 | ) |
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Cash distributions received from equity investees - return of investment | 8,711 | | | — | | | 8,272 | | | — | | | (8,711 | ) | | 8,272 | |
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Investments in equity investees | (263,597 | ) | | — | | | (71,443 | ) | | — | | | 263,597 | | | (71,443 | ) |
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Acquisitions | — | | | — | | | (230,921 | ) | | — | | | — | | | (230,921 | ) |
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Repayments on loan to non-guarantor subsidiary | — | | | — | | | 3,341 | | | — | | | (3,341 | ) | | — | |
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Proceeds from asset sales | — | | | — | | | 810 | | | — | | | — | | | 810 | |
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Other, net | — | | | — | | | (1,004 | ) | | — | | | — | | | (1,004 | ) |
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Net cash used in investing activities | (254,886 | ) | | — | | | (479,823 | ) | | (10,756 | ) | | 251,545 | | | (493,920 | ) |
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CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | |
Borrowings on senior secured credit facility | 1,234,500 | | | — | | | — | | | — | | | — | | | 1,234,500 | |
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Repayments on senior secured credit facility | (1,323,200 | ) | | — | | | — | | | — | | | — | | | (1,323,200 | ) |
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Proceeds from issuance of senior unsecured notes | 350,000 | | | — | | | — | | | — | | | — | | | 350,000 | |
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Debt issuance costs | (8,157 | ) | | — | | | — | | | — | | | — | | | (8,157 | ) |
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Issuance of common units for cash, net | 263,597 | | | — | | | 263,597 | | | — | | | (263,597 | ) | | 263,597 | |
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Distributions to partners/owners | (122,097 | ) | | — | | | (122,097 | ) | | (6,545 | ) | | 128,642 | | | (122,097 | ) |
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Other, net | — | | | — | | | (5,476 | ) | | (2,320 | ) | | 3,312 | | | (4,484 | ) |
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Net cash provided by (used in) financing activities | 394,643 | | | — | | | 136,024 | | | (8,865 | ) | | (131,643 | ) | | 390,159 | |
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Net (decrease) increase in cash and cash equivalents | 10 | | | — | | | 4,648 | | | 919 | | | — | | | 5,577 | |
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Cash and cash equivalents at beginning of period | 10 | | | — | | | 11,214 | | | 58 | | | — | | | 11,282 | |
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Cash and cash equivalents at end of period | $ | 20 | | | $ | — | | | $ | 15,862 | | | $ | 977 | | | $ | — | | | $ | 16,859 | |
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