Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 14, 2014 | Jun. 28, 2013 |
Entity Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'CEQP | ' | ' |
Entity Registrant Name | 'Crestwood Equity Partners LP | ' | ' |
Entity Central Index Key | '0001136352 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 186,429,575 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $1.80 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $5.20 | $0.10 |
Accounts receivable, less allowance for doubtful accounts of $0.1 million at December 31, 2013 | 412.6 | 45.4 |
Inventory (Note 3) | 73.6 | 0 |
Assets from price risk management activities | 14.5 | 0 |
Prepaid expenses and other current assets | 16.1 | 4.9 |
Total current assets | 522 | 50.4 |
Property, plant and equipment (Note 3) | 4,108.70 | 1,197.40 |
Less: accumulated depreciation and depletion | 203.4 | 95 |
Property, plant and equipment, net | 3,905.30 | 1,102.40 |
Intangible assets (Note 3) | 1,466.40 | 845.2 |
Less: accumulated amortization | 106 | 49.9 |
Intangible assets, net | 1,360.40 | 795.3 |
Goodwill | 2,552.20 | 352.2 |
Investment in unconsolidated affiliates | 151.4 | 0 |
Other assets | 31.9 | 1.3 |
Total assets | 8,523.20 | 2,301.60 |
Current liabilities: | ' | ' |
Accounts payable | 379 | 5.4 |
Accrued expenses and other liabilities (Note 3) | 177.1 | 43.1 |
Liabilities from price risk management activities | 34.9 | 0 |
Current portion of long-term debt (Note 9) | 5.1 | 0 |
Total current liabilities | 596.1 | 48.5 |
Long-term debt, less current portion (Note 9) | 2,260.90 | 685.2 |
Other long-term liabilities | 140.4 | 17.2 |
Deferred income taxes | 17.2 | 0 |
Commitments and contingencies (Note 15) | ' | ' |
Partners’ capital (Note 11): | ' | ' |
Partners' capital (185,274,279 and 39,491,002 limited partner units issued and outstanding at December 31, 2013 and December 31, 2012) | 831.6 | 31.7 |
Total partners’ capital | 831.6 | 31.7 |
Interest of non-controlling partners in subsidiaries | 4,677 | 1,519 |
Total partners’ capital | 5,508.60 | 1,550.70 |
Total liabilities and partners’ capital | $8,523.20 | $2,301.60 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts | $0.10 | $0 |
Common units, issued | 0 | 39,491,002 |
Common units, outstanding | 0 | 39,491,002 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues: | ' | ' | ' |
Gathering and processing | $216.30 | $125.80 | $74.60 |
NGL and crude services | 1,031.30 | 0 | 0 |
Storage and transportation | 104.2 | 0 | 0 |
Gathering and processing revenues | 74.9 | 113.7 | 131.2 |
Total revenue | 1,426.70 | 239.5 | 205.8 |
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ' | ' | ' |
Gathering and processing | 24.1 | 23.8 | 38.8 |
NGL and crude services | 930 | 0 | 0 |
Storage and transportation | 15.7 | 0 | 0 |
Related party (Note 16) | 32.5 | 15.2 | 0 |
Cost of product/services sold | 1,002.30 | 39 | 38.8 |
Expenses: | ' | ' | ' |
Operating and administrative | 198.1 | 72.7 | 60.4 |
Depreciation, amortization and accretion | 167.9 | 73.2 | 53.9 |
Costs and Expenses | 366 | 145.9 | 114.3 |
Goodwill impairment | -4.1 | 0 | 0 |
Gain on long-lived assets | 5.3 | 0 | 1.1 |
Gain (loss) on contingent consideration (Note 15) | -31.4 | 6.8 | 17.2 |
Operating income | 28.2 | 61.4 | 71 |
Loss from unconsolidated affiliates, net | -0.1 | 0 | 0 |
Interest and debt expense, net | -77.9 | -35.8 | -27.6 |
Other income | 0.2 | 0 | 0 |
Income (loss) before income taxes | -49.6 | 25.6 | 43.4 |
Provision for income taxes | 1 | 1.2 | 1.3 |
Net income (loss) | -50.6 | 24.4 | 42.1 |
Net (income) loss attributable to non-controlling partners | 57.3 | -9.5 | -34.4 |
Net income attributable to Crestwood Equity Partners LP | 6.7 | 14.9 | 7.7 |
Subordinated unitholders' interest in net income | 0.3 | 1.7 | 0.9 |
Common unitholders' interest in net income | $6.40 | $13.20 | $6.80 |
Net income per limited partner unit: | ' | ' | ' |
Basic (dollars per unit) | 0.06 | 0.38 | 0.19 |
Diluted (dollars per unit) | 0.06 | 0.38 | 0.19 |
Weighted-average limited partners’ units outstanding (in thousands): | ' | ' | ' |
Basic (units) | 109,145 | 35,103 | 35,103 |
Dilutive (units) | 4,388 | 4,388 | 4,388 |
Diluted (units) | 113,533 | 39,491 | 39,491 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income (loss) | ($50.60) | $24.40 | $42.10 |
Change in Suburban Propane Partners, L.P. units | -0.1 | 0 | 0 |
Comprehensive income (loss) | ($50.70) | $24.40 | $42.10 |
Consolidated_Statement_of_Part
Consolidated Statement of Partners' Capital (USD $) | Total | Inergy Midstream | Crestwood Marcellus Midstream LLC | Crestwood Holdings | Class D Units | Class C Units | Limited Partners | Limited Partners | Limited Partners | Limited Partners | Limited Partners | Limited Partners | Non-Controlling Partners | Non-Controlling Partners | Non-Controlling Partners | Non-Controlling Partners | Non-Controlling Partners | Non-Controlling Partners | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC |
In Millions, unless otherwise specified | Inergy Midstream | Crestwood Marcellus Midstream LLC | Crestwood Holdings | Class D Units | Class C Units | Inergy Midstream | Crestwood Marcellus Midstream LLC | Crestwood Holdings | Class D Units | Class C Units | Limited Partners | Non-Controlling Partners | |||||||||
Balance at December 31, 2012 at Dec. 31, 2010 | $926 | ' | ' | ' | ' | ' | $10.70 | ' | ' | ' | ' | ' | $915.30 | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Partners' Capital [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Acquisitions | 206.3 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 206.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Invested capital from Legacy Inergy, net of debt (Note 4) | 8.7 | ' | ' | ' | ' | ' | 8.7 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Limited Partners' Capital Account, Distribution Amount | 42.1 | ' | ' | ' | ' | ' | 7.7 | ' | ' | ' | ' | ' | 34.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital, Other | 0.9 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 0.9 | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to partners | -64 | ' | ' | ' | ' | ' | -5.9 | ' | ' | ' | ' | ' | -58.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds from issuance of common units by subsidiaries | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 0.8 | ' | ' | ' | ' | ' | -0.8 | ' | ' | ' |
Net income (loss) | 42.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at December 31, 2013 at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at December 31, 2012 at Dec. 31, 2011 | 1,120 | ' | ' | ' | ' | ' | 22 | ' | ' | ' | ' | ' | 1,098 | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Partners' Capital [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Acquisitions | 217.5 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 217.5 | ' | ' | ' | ' | ' | ' | ' | ' |
Invested capital from Legacy Inergy, net of debt (Note 4) | 290.8 | ' | ' | ' | ' | ' | 6.6 | ' | ' | ' | ' | ' | 284.2 | ' | ' | ' | ' | ' | ' | ' | ' |
Limited Partners' Capital Account, Distribution Amount | 24.4 | ' | ' | ' | ' | ' | 14.9 | ' | ' | ' | ' | ' | 9.5 | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital, Other | 1.9 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 1.9 | ' | ' | ' | ' | ' | ' | ' | ' |
Taxes paid for unit-based compensation vesting | -0.4 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | -0.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to partners | -103.5 | ' | ' | ' | ' | ' | -13.8 | ' | ' | ' | ' | ' | -89.7 | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds from issuance of common units by subsidiaries | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | -2 | ' | ' | ' |
Net income (loss) | 24.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at December 31, 2013 at Dec. 31, 2012 | 31.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at December 31, 2012 at Dec. 31, 2012 | 1,550.70 | ' | ' | ' | ' | ' | 31.7 | ' | ' | ' | ' | ' | 1,519 | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Partners' Capital [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Acquisitions | 0 | ' | ' | ' | ' | ' | 182.3 | ' | ' | ' | ' | ' | -182.3 | ' | ' | ' | ' | ' | 200 | 0 | 200 |
Invested capital from Legacy Inergy, net of debt (Note 4) | ' | ' | 3,379.40 | 10 | ' | ' | ' | ' | 697.1 | 0 | ' | ' | ' | ' | 2,682.30 | 10 | ' | ' | ' | ' | ' |
Distributions to partners | -271.1 | ' | -129 | ' | ' | 0 | -56.6 | ' | -129 | ' | ' | -0.1 | -214.5 | ' | 0 | ' | ' | 0.1 | ' | ' | ' |
Net proceeds from issuance of common units by subsidiaries | ' | 714 | ' | ' | 0 | 0 | ' | 0 | ' | ' | -126.3 | 0.6 | ' | 714 | ' | ' | 126.3 | -0.6 | ' | ' | ' |
Net proceeds from common unit options exercised | 0.1 | ' | ' | ' | ' | ' | 0.1 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Unit-based compensation charges | 17.4 | ' | ' | ' | ' | ' | 1.7 | ' | ' | ' | ' | ' | 15.7 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of preferred equity of subsidiary | 96.1 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 96.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on issuance of subsidiary units | 0 | ' | ' | ' | ' | ' | -12.6 | ' | ' | ' | ' | ' | 12.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Change in interest in Crestwood Marcellus Midstream LLC | ' | ' | 0 | ' | ' | ' | ' | ' | 238.9 | ' | ' | ' | ' | ' | -238.9 | ' | ' | ' | ' | ' | ' |
Taxes paid for unit-based compensation vesting | -8.3 | ' | ' | ' | ' | ' | -2.8 | ' | ' | ' | ' | ' | -5.5 | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | -0.1 | ' | ' | ' | ' | ' | -0.1 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | -50.6 | ' | ' | ' | ' | ' | 6.7 | ' | ' | ' | ' | ' | -57.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at December 31, 2013 at Dec. 31, 2013 | $831.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net income (loss) | ($50.60) | $24.40 | $42.10 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation, amortization and accretion | 167.9 | 73.2 | 53.9 |
Amortization of debt related deferred costs | 9.9 | 5.5 | 3.5 |
Amortization of bond premium | -0.7 | 0 | 0 |
Market adjustment on interest rate swaps | -1.7 | 0 | 0 |
(Gain) loss on contingent consideration | 31.4 | -6.8 | -17.2 |
Unit-based compensation charges | 17.4 | 1.9 | 0.9 |
Provision for doubtful accounts | -1.1 | 0 | 0 |
Goodwill impairment | 4.1 | 0 | 0 |
Gain on long-lived assets | -5.3 | 0 | -1.1 |
Loss from unconsolidated affiliates, net | 0.1 | 0 | 0 |
Deferred income taxes | -2.8 | 0 | 0 |
Other | 0.1 | -0.2 | 0 |
Changes in operating assets and liabilities, net of effects from acquisitions: | ' | ' | ' |
Accounts receivable | -39.9 | -3.5 | -11.7 |
Inventory | -23.6 | 0 | 0 |
Prepaid expenses and other current assets | 11.2 | 0.8 | 0.2 |
Accounts payable, accrued expenses and other liabilities | 44.2 | 6.8 | 15.7 |
Net liabilities from price risk management activities | 27.7 | 0 | 0 |
Net cash provided by operating activities | 188.3 | 102.1 | 86.3 |
Investing activities | ' | ' | ' |
Acquisitions, net of cash acquired (Note 4) | -555.6 | -564 | -414.1 |
Purchases of property, plant and equipment | -347 | -52.6 | -48.4 |
Proceeds from sale of assets | 11.2 | 0 | 6 |
Investment in unconsolidated affiliates | -151.5 | 0 | 0 |
Net cash used in investing activities | -1,042.90 | -616.6 | -456.5 |
Financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 394.1 | 0 | 0 |
Principal payments on long-term debt | -333.3 | 0 | 0 |
Contributions from partners | 0 | 249.7 | 8.7 |
Distributions to partners | -68.4 | -13.8 | -5.9 |
Distributions paid to non-controlling partners | -204.5 | -89.7 | -58.1 |
Distributions for additional interest in Crestwood Marcellus Midstream LLC | -129 | 0 | 0 |
Payments on capital leases | -4.3 | -3 | -2 |
Payments for deferred financing costs | -33.1 | -11.4 | -7 |
Payments for deferred acquisition costs | 0 | -7.8 | 0 |
Net proceeds from issuance of Crestwood Midstream Partners LP common units | 714 | 217.5 | 53.6 |
Proceeds from Issuance of Preferred Stock and Preference Stock | 0 | 0 | 152.7 |
Proceeds from issuance of preferred equity of subsidiary, net | 96.1 | 0 | 0 |
Net proceeds from Crestwood Equity Partners LP common unit options exercised | 0.1 | 0 | 0 |
Taxes paid for unit-based compensation vesting | -10.5 | -0.4 | 0 |
Net cash provided by financing activities | 859.7 | 513.8 | 371 |
Net increase (decrease) in cash | 5.1 | -0.7 | 0.8 |
Cash at beginning of period | 0.1 | 0.8 | 0 |
Cash at end of period | 5.2 | 0.1 | 0.8 |
Cash paid during the period for interest | 64.9 | 27.9 | 20.3 |
Cash paid during the period for income taxes | 2.5 | 0 | 0 |
Supplemental schedule of non-cash investing and financing activities | ' | ' | ' |
Net change to property, plant and equipment through accounts payable and accrued expenses | -38 | -1.7 | 3.8 |
Acquisitions, net of cash acquired: | ' | ' | ' |
Current assets | 409.6 | 0 | 4 |
Property, plant and equipment | 2,487.20 | 178 | 204.6 |
Intangible assets | 660.9 | 384 | 130.2 |
Goodwill | 2,195.40 | 4.1 | 93.6 |
Other assets | 32.1 | 0 | 0.2 |
Current liabilities | -420.6 | -0.7 | -12.5 |
Debt | -1,079.30 | 0 | 0 |
Invested capital of Crestwood Equity Partners LP, net of debt (Note 4) | -3,579.40 | 0 | 0 |
Other liabilities | -150.3 | -1.4 | -6 |
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed) | 555.6 | 564 | 414.1 |
Inergy Midstream | ' | ' | ' |
Financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 1,573.40 | 0 | 0 |
Principal payments on long-term debt | -1,359.30 | 0 | 0 |
CMLP | ' | ' | ' |
Financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 357.5 | 563.2 | 415.2 |
Principal payments on long-term debt | -200 | -517.5 | -186.2 |
Crestwood Marcellus Midstream LLC | ' | ' | ' |
Financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 141.9 | 143.5 | 0 |
Principal payments on long-term debt | ($75) | ($16.50) | $0 |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Text Block [Abstract] | ' | |
Basis of Presentation and Summary of Significant Accounting Policies | ' | |
Basis of Presentation and Summary of Significant Accounting Policies | ||
Basis of Presentation | ||
Our consolidated financial statements were originally the financial statements of Legacy Crestwood GP, prior to being acquired by us on June 19, 2013 as discussed above. The acquisition of Legacy Crestwood GP was accounted for as a reverse acquisition under the purchase method of accounting in accordance with accounting standards for business combinations. The accounting for a reverse acquisition results in the legal acquiree (Legacy Crestwood GP) being the acquirer for accounting purposes. Although Legacy Crestwood GP was the acquiring entity for accounting purposes, we were the acquiring entity for legal purposes; consequently, the name on these financial statements was changed from Crestwood Gas Services GP, LLC to Crestwood Equity Partners LP. | ||
On June 19, 2013, we changed our fiscal year-end from September 30 to December 31 to adopt the fiscal year of Legacy Crestwood GP. | ||
Our consolidated financial statements are prepared in accordance with GAAP and include the accounts of all consolidated subsidiaries after the elimination of all intercompany accounts and transactions. In management’s opinion, all necessary adjustments to fairly present our results of operation, financial position and cash flows for the periods presented have been made and all such adjustments are of a normal and recurring nature. | ||
Financial Instruments and Price Risk Management | ||
We utilize certain derivative financial instruments to (i) manage our exposure to commodity price risk, specifically, the related change in the fair value of inventory, as well as the variability of cash flows related to forecasted transactions; (ii) ensure adequate physical supply of commodity will be available; and (iii) manage our exposure to the interest rate risk associated with fixed and variable rate borrowings. We record all derivative instruments on the balance sheet as either assets or liabilities measured at fair value. Changes in the fair value of these derivative financial instruments are recorded through current earnings. | ||
We did not have any derivatives identified as fair value hedges for accounting purposes or any derivatives designated as cash flow hedges for the years ended December 31, 2013, 2012 or 2011. | ||
Principles of Consolidation | ||
We consolidate entities when we have the ability to control or direct the operating and financial decisions of the entity or when we have a significant interest in the entity that gives us the ability to direct the activities that are significant to that entity. The determination of our ability to control, direct or exert significant influence over an entity involves the use of judgment. We apply the equity method of accounting where we can exert significant influence over, but do not control or direct the policies, decisions or activities of an entity. We use the cost method of accounting where we are unable to exert significant influence over the entity. | ||
Revenue Recognition | ||
We gather, treat, compress, store, transport and sell various commodities (including crude oil, natural gas, NGLs and water) pursuant to fixed-fee and percent-of-proceeds contracts. We recognize revenues for these services and products when all of the following criteria are met: | ||
• services have been rendered or products delivered or sold; | ||
• persuasive evidence of an exchange arrangement exists; | ||
• the price for services is fixed or determinable; and | ||
• collectability is reasonably assured. | ||
For fixed-fee contracts, we recognize revenues based on the volume of crude oil, natural gas or produced water gathered, processed and treated or compressed, as applicable. For percent-of-proceeds contracts, we recognize revenues based on the value of products sold to third parties. | ||
Sales of crude oil, NGLs and salt are recognized at the time product is shipped or delivered to the customer depending on the sales terms. NGL processing and fractionation fees are recognized upon delivery of the product. Revenues from the COLT Hub are recognized when the contractual services are provided, such as loading of customer rail cars. Revenues from storage and transportation contracts are recognized during the period in which the storage and transportation services are provided, such as providing storage and transportation services during the period a firm service contract is in place. We record deferred revenue when we receive amounts from our customers but have not met the criteria listed above. At December 31, 2013 and 2012, we had deferred revenue of approximately $2.1 million and $2.6 million, which is reflected in accrued expenses and other liabilities on our consolidated balance sheets. | ||
Credit Risk and Concentrations | ||
Inherent in our contractual portfolio are certain credit risks. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. We take an active role in managing credit risk and have established control procedures, which are reviewed on an ongoing basis. We attempt to minimize credit risk exposure through credit policies and periodic monitoring procedures as well as through customer deposits, letters of credit and entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate. | ||
Two suppliers, Williams Ohio Valley and PBF Holding Corp., accounted for 14% and 11% of natural gas liquid purchases during 2013. | ||
No customer accounted for 10% or more of our total consolidated revenues for the year ended December 31, 2013. For the years ended December 31, 2012 and 2011, Quicksilver Resources Inc. ("Quicksilver") accounted for approximately 47% and 64% of our total consolidated revenues. For the year ended December 31, 2012, Antero Resources Appalachian Corporation ("Antero") accounted for approximately 11% of our total consolidated revenues. Revenues from Quicksilver and Antero are reflected in our gathering and processing segment. | ||
No customer accounted for 10% or more of our consolidated accounts receivable at December 31, 2013. At December 31, 2012, Quicksilver and Antero accounted for approximately 48% and 14% of our consolidated accounts receivable. | ||
Use of Estimates | ||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from those estimates. | ||
Inventory | ||
Inventory for our NGL and crude services operations and our storage and transportation operations are stated at the lower of cost or market and are computed predominantly using the average cost method. Legacy Crestwood GP had no inventory at December 31, 2012. | ||
Shipping and Handling Costs | ||
Shipping and handling costs are recorded as part of cost of product/services sold at the time product is shipped or delivered to the customer. | ||
Property, Plant and Equipment | ||
Property, plant and equipment is recorded at is original cost of construction or, upon acquisition, at the fair value of the assets acquired. For assets we construct, we capitalize direct costs, such as labor and materials, and indirect costs, such as overhead and interest. We capitalize major units of property replacements or improvement and expense minor items. Depreciation is computed by the straight-line method over the estimated useful lives of the assets, as follows: | ||
Years | ||
Gathering systems and pipelines | 20 | |
Facilities and equipment | 20 – 25 | |
Buildings, rights-of-way and easements | 20 – 40 | |
Office furniture and fixtures | 5 – 10 | |
Vehicles | 5 | |
We deplete salt deposits included in our property, plant and equipment utilizing the unit of production method. | ||
When we retire property, plant and equipment, we charge accumulated depreciation for the original costs of the assets in addition to the cost to remove, sell or dispose of the assets, less their salvage value. | ||
We evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such events or changes in circumstances are present, a loss is recognized if the carrying value of the asset is in excess of the sum of the undiscounted cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. We have not identified any indicators that suggest the carrying amount of an asset may not be recoverable as of December 31, 2013. | ||
Identifiable Intangible Assets | ||
We have recorded certain identifiable intangible assets, including customer accounts, covenants not to compete, trademarks, certain revenue contracts and deferred financing costs. Customer accounts, covenants not to compete, trademarks and certain of our revenue contracts have arisen from acquisitions. We amortize certain of our revenue contracts based on the projected cash flows associated with these contracts. Deferred financing costs represent financing costs incurred in obtaining financing and are being amortized over the term of the related debt using the effective interest method. We recognize acquired intangible assets separately if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the intangible asset can be sold, transferred, licensed, rented or exchanged, regardless of the acquirer's intent to do so. | ||
Certain intangible assets are amortized on a straight-line basis over their estimated economic lives, as follows: | ||
Weighted-Average | ||
Life | ||
(years) | ||
Customer accounts | 12 | |
Covenants not to compete | 4 | |
Trademarks | 6 | |
Deferred financing costs | 6 | |
Goodwill | ||
Our goodwill represents consideration paid in excess of the fair value of the identifiable assets acquired in a business combination. We evaluate goodwill for impairment, at a minimum, annually on December 31, or whenever events or changes indicate that it is more likely than not that the fair value of a reporting unit could be less than its carrying amount. This evaluation requires us to compare the fair value of each of our reporting units to its carrying value (including goodwill). If the fair value exceeds the book value of a reporting unit, goodwill of the reporting unit is not considered impaired. | ||
We estimate the fair value of our reporting units based on a number of factors, including the potential value we would receive if we sold the reporting unit, discount rates and projected cash flows. Estimating projected cash flows requires us to make certain assumptions as it relates to future operating performance. When considering operating performance, various factors are considered such as current and changing economic conditions and the commodity price environment, among others. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. If the growth assumptions embodied in the current year impairment testing prove inaccurate, we could incur an impairment charge. | ||
For the year ended December 31, 2013, we recorded an impairment of goodwill of approximately $4.1 million on our Haynesville/Bossier Shale system as a result of a decrease in anticipated revenues to be generated from those operations due primarily to our inability to renew and extend a significant revenue contract that expired in mid-2013. | ||
Investment in Unconsolidated Affiliates | ||
The FASB's accounting standards related to equity method investments and joint ventures requires entities to periodically review their equity method investments to determine whether current events or circumstances indicate that the carrying value of the equity method investment may be impaired. We evaluate our equity method investments for impairment when there are indicators of impairment. If indicators suggest impairment, we will perform an impairment test to assess whether an adjustment is necessary. The impairment test considers whether the fair value of our equity method investments declined and if any such decline is other than temporary. If a decline in fair value is determined to be other than temporary, the investment's carrying value is written down to fair value. No impairment adjustments were recorded in the year ended December 31, 2013. | ||
Income Taxes | ||
We are a master limited partnership. Partnerships are generally not subject to federal income tax, although publicly-traded partnerships are treated as corporations for federal income tax purposes and therefore are subject to federal income tax, unless the partnership generates at least 90% of its gross income from qualifying sources. If the qualifying income requirement is satisfied, the publicly-traded partnership will be treated as a partnership for federal income tax purposes. We satisfy the qualifying income requirement and are treated as a partnership for federal and state income tax purposes. Our consolidated earnings are included in the federal and state income tax returns of our partners. However, legislation in certain states allows for taxation of partnerships, and as such, certain state taxes have been included in our accompanying financial statements as income taxes due to the nature of the tax in those particular states as discussed below. In addition, federal and state income taxes are provided on the earnings of the subsidiaries incorporated as taxable entities. We are required to recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax basis of assets and liabilities using expected rates in effect for the year in which the differences are expected to reverse. | ||
We are responsible for the Texas Margin tax computed on the Texas franchise tax return. The margin tax qualifies as an income tax under GAAP, which requires us to recognize the impact of this tax on the temporary differences between the financial statement assets and liabilities and their tax basis attributable to such tax. For the years ended December 31, 2013, 2012 and 2011, there were no temporary differences recognized in our consolidated statements of operations. | ||
Net earnings for financial statement purposes may differ significantly from taxable income reportable to unitholders as a result of differences between the tax basis and the financial reporting basis of assets and liabilities and the taxable income allocation requirements under the partnership agreement. | ||
Sales Tax | ||
We account for the collection and remittance of sales tax on a net tax basis. As a result, these amounts are not reflected in the consolidated statements of operations. | ||
Cash and Cash Equivalents | ||
We define cash equivalents as all highly liquid investments with maturities of three months or less when purchased. | ||
Asset Retirement Obligations | ||
An asset retirement obligation ("ARO") is an estimated liability for the cost to retire a tangible asset. We record a liability for legal or contractual obligations to retire our long-lived assets associated with right-of-way contracts we hold and our facilities whether owned or leased. We record a liability in the period the obligation is incurred and estimable. An ARO is initially recorded at its estimated fair value with a corresponding increase to property, plant and equipment. This increase in property, plant and equipment is then depreciated over the useful life of the asset to which that liability relates. An ongoing expense is recognized for changes in the fair value of the liability as a result of the passage of time, which we record as depreciation, amortization and accretion expense on our consolidated statements of operations. The fair value of certain AROs could not be determined as the settlement dates (or range of dates) associated with these assets were not estimable. At December 31, 2013 and 2012, our AROs were reflected in other long-term liabilities on our consolidated balance sheets. See Note 14 for a discussion of our AROs. | ||
Environmental Costs and Other Contingencies | ||
We recognize liabilities for environmental and other contingencies when it has an exposure that indicates it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. Where the most likely outcome of a contingency can be reasonably estimated, we accrue a liability for that amount. Where the most likely outcome cannot be estimated, a range of potential losses is established and if no one amount in that range is more likely than any other, the low end of range is accrued. | ||
We record liabilities for environmental contingencies at their undiscounted amounts on our consolidated balance sheets as accrued expenses and other liabilities when environmental assessments indicate that remediation efforts are probable and costs can be reasonably estimated. Estimates of our liabilities are based on currently available facts and presently enacted laws and regulations, taking into consideration the likely effects of other societal and economic factors. These estimates are subject to revision in future periods based on actual costs or new circumstances. We capitalize costs that benefit future periods and recognize a current period charge in operating and administrative expenses when clean-up efforts do not benefit future periods. | ||
We evaluate potential recoveries of amounts from third parties, including insurance coverage, separately from our liability. Recovery is evaluated based on the solvency of the third party, among other factors. When recovery is assured, we record and report an asset separately from the associated liability on our consolidated balance sheet. | ||
Unit-Based Compensation | ||
Unit-based compensation awards are valued at the closing market price of our common units on the date of grant, which reflects the fair value of such awards. For those awards that are settled in cash, the associated liability is remeasured at every balance sheet date through settlement, such that the vested portion of the liability is adjusted to reflect its revised fair value through compensation expense. We generally recognize the expense associated with the award over the vesting period. Prior to the Crestwood Merger, Legacy Crestwood issued phantom units under its Fourth Amended and Restated 2007 Equity Plan ("2007 Equity Plan"). At the time of issuance of these phantom units, management of the general partner of Legacy Crestwood determined whether they were settled in cash or settled in common units. The 2007 Equity Plan was terminated in conjunction with the Crestwood Merger. Unit-based compensation awards at Crestwood Midstream are fully reflected in these financial statements and are accounted for in the manner described above. See Note 12 for a further discussion of our equity plans including the Legacy Inergy and Inergy Midstream plans. | ||
Segment Information | ||
There are certain accounting requirements that establish standards for reporting information about operating segments, as well as related disclosures about products and services, geographic areas and major customers. Further, they define operating segments as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assess performance. In determining our operating segments, we examine the way we organize our business internally for making operating decisions and assessing business performance. See Note 17 for disclosures related to our three operating and reporting segments. |
Organization_and_Description_o
Organization and Description of Business | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Partnership Organization And Basis Of Presentation Narrative [Abstract] | ' |
Organization and Description of Business | ' |
Organization and Description of Business | |
Organization | |
Crestwood Equity Partners LP (formerly known as Inergy, L.P., the “Company” or “CEQP”), a Delaware limited partnership formed in March 2001, is an energy midstream company. Its common units are listed on NYSE under the symbol “CEQP.” We are managed by our general partner, Crestwood Equity GP LLC (formerly known as Inergy GP, LLC), which is indirectly owned by Crestwood Holdings LLC (“Crestwood Holdings”). Crestwood Holdings is substantially owned and controlled by First Reserve Management, L.P., an energy-focused private equity fund (“First Reserve”). | |
Between June 19, 2013 and October 7, 2013, we conducted a significant part of our consolidated operations through two publicly-traded master limited partnerships, Inergy Midstream, L.P. (“Inergy Midstream” or “NRGM”) and Crestwood Midstream Partners LP (“Legacy Crestwood” or “Legacy CMLP”). These master limited partnerships were managed by their general partners, and we owned the general partners of Inergy Midstream and Legacy Crestwood. We therefore managed and controlled Inergy Midstream and Legacy Crestwood. | |
On October 7, 2013, (i) Legacy Crestwood merged with and into a wholly-owned subsidiary of Inergy Midstream (the "Crestwood Merger"), with Legacy Crestwood continuing as the surviving entity; (ii) Legacy Crestwood merged with and into Inergy Midstream, with Inergy Midstream continuing as the surviving entity; and (iii) Inergy Midstream changed its name to Crestwood Midstream Partners LP ("Crestwood Midstream") and changed its NYSE listing symbol from “NRGM” to “CMLP.” Concurrently with these transactions, on October 7, 2013, we changed our name from Inergy, L.P. to Crestwood Equity Partners LP and changed our NYSE listing symbol from “NRGY” to “CEQP.” We also changed our principal executive offices to 700 Louisiana Street, Suite 2060, Houston, Texas 77002. | |
We own the non-economic general partnership interest of Crestwood Midstream and, consequently, manage and control Crestwood Midstream. As of December 31, 2013, we also own approximately 4% of Crestwood Midstream’s limited partnership interests and 100% of its incentive distribution rights (“IDRs”), which entitle us to receive 50% of all distributions paid by Crestwood Midstream in excess of its initial quarterly distribution of $0.37 per common unit. | |
Unless otherwise indicated, references in this report to “we,” “us,” “our,” “ours,” “our company,” the “partnership,” the “Company,” “CEQP,” and similar terms refer to either Crestwood Equity Partners LP itself or Crestwood Equity Partners LP and its consolidated subsidiaries, as the context requires. Unless otherwise indicated, references to (i) Legacy Inergy refers to either Inergy, L.P. itself or Inergy, L.P. and its consolidated subsidiaries prior to the Crestwood Merger, (ii) Inergy Midstream and NRGM refer to either Inergy Midstream, L.P. itself or Inergy Midstream, L.P. and its consolidated subsidiaries prior to the Crestwood Merger, (iii) Legacy Crestwood and Legacy CMLP refer to either Crestwood Midstream Partners LP itself or Crestwood Midstream Partners LP and its consolidated subsidiaries prior to the Crestwood Merger, and (iv) Crestwood Midstream refers to Crestwood Midstream Partners LP and its consolidated subsidiaries following the Crestwood Merger. | |
Business Combination | |
On May 5, 2013, we and certain of our affiliates entered into a series of definitive agreements with Crestwood Holdings and certain of its affiliates under which, among other things, (i) we agreed to distribute to our common unitholders all of the NRGM common units owned by us; (ii) Crestwood Holdings agreed to acquire the owner of our general partner; (iii) Crestwood Holdings agreed to contribute ownership of Legacy CMLP's general partner and IDRs to us in exchange for common and subordinated units; and (iv) Legacy Crestwood agreed to merge with and into a subsidiary of Inergy Midstream in a merger in which Legacy CMLP unitholders received 1.07 NRGM common units for each Legacy CMLP common unit they owned and, Legacy CMLP unitholders (other than Crestwood Holdings), received a one-time $34.9 million cash payment at the closing of the Crestwood Merger, or $1.03 per unit, $24.9 million of which was paid by NRGM and $10 million of which was paid by Crestwood Holdings. | |
On June 5, 2013, Legacy Crestwood's general partner distributed to a wholly-owned subsidiary of Crestwood Holdings approximately 137,105 common units and approximately 21,588 Class D units of Legacy CMLP, representing all of the Legacy CMLP common and Class D units held by Legacy Crestwood's general partner. | |
On June 18, 2013, we distributed to our unitholders approximately 56.4 million NRGM common units, representing all of the NRGM common units held by us. | |
On June 19, 2013, Crestwood Holdings acquired the owner of our general partner and contributed to us ownership of Crestwood Gas Services GP, LLC ("Legacy Crestwood GP"), which owned 100% of the general partnership interests and IDRs of Legacy Crestwood. Crestwood Holdings and its ultimate parent company, First Reserve, acquired control of us as a result of these transactions. | |
Following the closing of the Crestwood Merger on October 7, 2013, Crestwood Holdings exchanged 7,100,000 common units of Crestwood Midstream for 14,300,000 of our common units pursuant to an option granted to Crestwood Holdings when it acquired our general partner. | |
Description of Business | |
We provide gathering, processing, storage and transportation solutions to customers in the crude oil, NGL and natural gas sectors of the energy industry. Our financial statements reflect three operating and reporting segments: (i) gathering and processing; (ii) NGL and crude services; and (iii) storage and transportation. | |
Our gathering and processing (G&P) operations provide natural gas gathering, processing, treating, compression and transportation services to producers in unconventional shale plays in West Virginia, Wyoming, Texas, Arkansas, New Mexico and Louisiana. The consolidated and unconsolidated assets reflected in this segment include rich gas gathering systems and processing plants in the Marcellus, Powder River Basin (“PRB”) Niobrara, Barnett, Granite Wash, and Avalon Shale plays, and dry gas gathering systems in the Barnett, Fayetteville, and Haynesville Shale plays. | |
Our NGL and crude services operations provide gathering, storage, transportation, marketing, supply and logistics services to producers, refiners, marketers, and other customers. The consolidated assets reflected in this segment primarily include (i) the COLT Hub, a crude oil rail loading and storage terminal located in North Dakota, (ii) the Arrow crude oil, natural gas and water gathering systems located on the Fort Berthold Indian Reservation in North Dakota, (iii) our West Coast operations, (iv) a fleet of terminals and over-the-road truck and rail transports, (v) the Bath and Seymour NGL storage facilities in New York and Indiana, respectively, and (vi) US Salt, a solution-mining and salt production company in New York. | |
Our storage and transportation operations provide natural gas storage and transportation services to third parties. The consolidated assets reflected in this segment primarily include natural gas storage facilities in New York and Texas (the Stagecoach, Thomas Corners, Steuben, Seneca Lake and Tres Palacios storage facilities), and natural gas transmission facilities in New York and Pennsylvania (the North-South Facilities, the MARC I Pipeline, and the East Pipeline). | |
We own and operate the Tres Palacios natural gas storage facility, an NGL processing and fractionation facility on the West Coast, and an NGL supply and logistics business (including, without limitation, terminals and fleet). All of our other consolidated assets are owned by or through Crestwood Midstream. |
Certain_Balance_Sheet_Informat
Certain Balance Sheet Information | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Certain Balance Sheet Information | ' | |||||||
Certain Balance Sheet Information | ||||||||
Inventory | ||||||||
Inventory consisted of the following at December 31, 2013 (in millions). Legacy Crestwood GP did not have inventory at December 31, 2012. | ||||||||
December 31, | ||||||||
2013 | ||||||||
NGLs | $ | 66.9 | ||||||
Parts, supplies and other | 6.7 | |||||||
Total inventory | $ | 73.6 | ||||||
Property, Plant and Equipment | ||||||||
Property, plant and equipment consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Gathering systems and pipelines | $ | 1,473.40 | $ | 582.3 | ||||
Facilities and equipment | 1,186.50 | 485.8 | ||||||
Buildings, rights-of-way and easements | 86.3 | 66.4 | ||||||
Land and storage rights | 728.4 | 4.1 | ||||||
Vehicles | 35.8 | 0.3 | ||||||
Construction in process | 365.8 | 56 | ||||||
Base gas | 102 | — | ||||||
Salt deposits | 120.5 | — | ||||||
Office furniture and fixtures | 10 | 2.5 | ||||||
4,108.70 | 1,197.40 | |||||||
Less: accumulated depreciation and depletion | 203.4 | 95 | ||||||
Total property, plant and equipment, net | $ | 3,905.30 | $ | 1,102.40 | ||||
Depreciation. Depreciation expense totaled $109.9 million, $49.1 million and $39.1 million for the years ended December 31, 2013, 2012 and 2011. Depletion expense totaled $0.4 million for the year ended December 31, 2013. Legacy Crestwood GP did not have any depletion expense. | ||||||||
Capitalized Interest. At December 31, 2013 and 2012, we capitalized interest of $3.4 million and $0.2 million related to certain expansion projects. | ||||||||
Capital Leases. We have a compressor station, treating facility and certain auto leases which are accounted for as capital leases. Our compressor station and treating facility leases are reflected in facilities and equipment in the above table. We had capital lease assets of $5.0 million and $7.1 million included in property, plant and equipment at December 31, 2013 and 2012. | ||||||||
Impairment. During the year ended December 31, 2012, we recorded an impairment of $1.6 million of our property, plant and equipment to write certain of our assets down to their fair value of zero (which is a Level 3 fair value measurement as discussed in Note 7) as a result of a compressor building fire that occurred on September 6, 2012 at our Corvette processing plant. This impairment, in addition to $1.3 million of other operating and administrative costs incurred related to the incident, is recoverable under our insurance policies and is recorded in prepaid expenses and other current assets on our December 31, 2012 balance sheet. During the year ended December 31, 2013, we received the insurance proceeds and we recorded a gain of approximately $1.0 million related to the proceeds received in excess of the book value of our assets at the facility. At December 31, 2012, our insurance receivable related to this matter was $2.9 million. | ||||||||
Gain on Long-Lived Assets. During the year ended December 31, 2013, we recorded a gain of approximately $4.4 million on the sale of a cryogenic plant and associated equipment. | ||||||||
During the year ended December 31, 2011, we recorded a gain of $1.1 million on the exchange of property, plant and equipment under an agreement with a third party to exchange the delivery of certain processing plants that were under contract. We received proceeds of $6.0 million on the exchange. | ||||||||
Intangible Assets | ||||||||
Intangible assets consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Customer accounts | $ | 576.9 | $ | — | ||||
(accumulated amortization—customer accounts) | (18.7 | ) | — | |||||
Covenants not to compete | 7 | — | ||||||
(accumulated amortization—covenants not to compete) | (1.0 | ) | — | |||||
Gas gathering, compression and processing contracts | 750.2 | 813 | ||||||
(accumulated amortization - gas gathering, compression and processing contracts) | (67.3 | ) | (40.2 | ) | ||||
Acquired storage contracts | 43.5 | — | ||||||
(accumulated amortization - acquired storage contracts) | (8.6 | ) | — | |||||
Trademarks | 33.5 | — | ||||||
(accumulated amortization - trademarks) | (2.3 | ) | — | |||||
Deferred financing and other costs | 55.3 | 32.2 | ||||||
(accumulated amortization—deferred financing costs) | (8.1 | ) | (9.7 | ) | ||||
Total intangible assets, net | $ | 1,360.40 | $ | 795.3 | ||||
Amortization and interest expense associated with our intangible assets described above for the years ended December 31, 2013, 2012 and 2011, was approximately $66.7 million, $28.9 million and $17.8 million. | ||||||||
Estimated amortization on our intangibles for the next five years is as follows (in millions): | ||||||||
Year Ending | ||||||||
December 31, | ||||||||
2014 | $ | 107.8 | ||||||
2015 | 108 | |||||||
2016 | 96.6 | |||||||
2017 | 86.3 | |||||||
2018 | 75.8 | |||||||
Accrued Expenses and Other Liabilities | ||||||||
Accrued expenses and other liabilities consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Accrued expenses | $ | 40.3 | $ | 9.6 | ||||
Accrued property taxes | 9.4 | 5.6 | ||||||
Accrued product purchases payable | 1.6 | 2.5 | ||||||
Tax payable | 14.8 | 2.2 | ||||||
Interest payable | 16.7 | 7.5 | ||||||
Accrued additions to property, plant and equipment | 58.2 | 9.2 | ||||||
Commitments and contingent liabilities (Note 15) | 31.4 | — | ||||||
Capital leases | 2.6 | 3.9 | ||||||
Deferred revenue | 2.1 | 2.6 | ||||||
Total accrued expenses and other liabilities | $ | 177.1 | $ | 43.1 | ||||
Acquisitions
Acquisitions | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Acquisitions | ' | |||||||||||
Acquisitions | ||||||||||||
2013 Acquisitions | ||||||||||||
Crestwood Merger | ||||||||||||
As described in Note 1, the acquisition of Legacy Crestwood GP was accounted for as a reverse merger under the purchase method of accounting in accordance with the accounting standards for business combinations. This accounting treatment requires the accounting acquiree (CEQP) to have its assets and liabilities stated at fair value as well as any other purchase accounting adjustments as of June 19, 2013, the date of the acquisition. The fair value of CEQP was calculated based on the consolidated enterprise fair value of CEQP as of June 19, 2013. This consolidated enterprise fair value considered the discounted future cash flows of the Legacy Inergy and Inergy Midstream operations and the stock prices of CEQP and NRGM, the value of their outstanding senior notes based on quoted market prices for same or similar issuances and the value of their outstanding floating rate debt. | ||||||||||||
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the merger date (in millions): | ||||||||||||
Current assets | $ | 224.5 | ||||||||||
Property, plant and equipment | 2,088.20 | |||||||||||
Intangible assets | 337.5 | |||||||||||
Other assets | 12.7 | |||||||||||
Total identifiable assets acquired | 2,662.90 | |||||||||||
Current liabilities | 207.5 | |||||||||||
Long-term debt | 1,079.30 | |||||||||||
Other long-term liabilities | 146.6 | |||||||||||
Total liabilities assumed | 1,433.40 | |||||||||||
Net identifiable assets acquired | 1,229.50 | |||||||||||
Goodwill | 2,149.90 | |||||||||||
Net assets acquired | $ | 3,379.40 | ||||||||||
Of the $2,149.9 million of goodwill, $1,213.4 million is reflected in our NGL and crude services segment and $936.5 million is reflected in our storage and transportation segment. Goodwill recognized relates primarily to synergies and new expansion opportunities expected to result from the combination of Legacy Crestwood and Inergy Midstream. The purchase price allocation has been prepared on a preliminary basis pending receipt of a final valuation report and is subject to material change. | ||||||||||||
Included in other long-term liabilities is a market adjustment of approximately $100 million for the value of the Tres Palacios lease of the surface and subsurface rights (see Note 15). | ||||||||||||
During the year ended December 31, 2013, we recognized $916.7 million of operating revenues and $23.9 million of operating income related to this acquisition. | ||||||||||||
Arrow Acquisition | ||||||||||||
On November 8, 2013, Crestwood Midstream acquired Arrow Midstream Holdings, LLC ("Arrow"), a privately-held midstream company, for approximately $750 million, subject to customary capital expenditure and working capital adjustments of approximately $12.8 million. The acquisition was consummated by merging a wholly-owned subsidiary of Crestwood Midstream with and into Arrow (the “Arrow Acquisition”), with Arrow continuing as the surviving entity and a wholly-owned subsidiary of Crestwood Midstream. The base merger consideration consisted of $550 million in cash and 8,826,125 common units of Crestwood Midstream issued to the sellers, subject to adjustment for standard working capital provisions. | ||||||||||||
Arrow, through its wholly-owned subsidiaries, owns and operates substantial crude oil, natural gas and water gathering systems located on the Fort Berthold Indian Reservation in the core of the Bakken Shale in McKenzie and Dunn Counties, North Dakota. Arrow also owns salt water disposal wells and a 23-acre central delivery point with multiple pipeline take-away outlets and a fully-automated truck loading facility. | ||||||||||||
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the acquisition date (in millions): | ||||||||||||
Current assets | $ | 192.3 | ||||||||||
Property, plant and equipment | 399 | |||||||||||
Intangible assets | 323.4 | |||||||||||
Other assets | 19.4 | |||||||||||
Total identifiable assets acquired | 934.1 | |||||||||||
Current liabilities | 213.1 | |||||||||||
Other long-term liabilities | 3.7 | |||||||||||
Total liabilities assumed | 216.8 | |||||||||||
Net identifiable assets acquired | 717.3 | |||||||||||
Goodwill | 45.5 | |||||||||||
Net assets acquired | $ | 762.8 | ||||||||||
The $45.5 million of goodwill is reflected in our NGL and crude services segment. Goodwill recognized relates primarily to anticipated operating synergies between the assets acquired and our existing assets. The purchase price allocation has been prepared on a preliminary basis pending receipt of a final valuation report and is subject to material change. | ||||||||||||
During the year ended December 31, 2013, we recognized $218.8 million of operating revenues and $1.7 million of operating income related to this acquisition. | ||||||||||||
2012 Acquisitions | ||||||||||||
Antero Acquisition | ||||||||||||
On March 26, 2012, Crestwood Marcellus Midstream LLC ("CMM") acquired from Antero gathering assets located in Harrison and Doddridge Counties, West Virginia (the "Antero Acquisition") for approximately $376.8 million. The acquired assets consisted of a 33-mile low-pressure gathering system that delivers Antero’s Marcellus Shale production to various regional pipeline systems and MarkWest Energy Partners’ Sherwood Gas Processing Plant. | ||||||||||||
In connection with the Antero Acquisition, Legacy Crestwood agreed to pay Antero conditional consideration in the form of potential additional cash payments of up to $40 million, depending on the achievement of certain defined average annual production levels achieved during 2012, 2013 and 2014. During 2012 and 2013, Antero did not meet the annual production level to earn additional payments. Based on our estimates of Antero’s 2014 production, we believe their production levels will likely exceed the annual production threshold in the earn-out provision and accordingly, we have recognized a $31.4 million liability as of December 31, 2013 that represents the fair value of the potential payments that may be made under this earn-out provision. We estimated the liability based on the probability-weighted discounted cash flows using a 5.9% discount rate and our estimate of Antero’s production in 2014 (a Level 3 fair value measurement). | ||||||||||||
Upon the closing of the Antero Acquisition, CMM entered into a 20-year fixed-fee, Gas Gathering and Compression Agreement ("GGA") with Antero. The GGA provided for an area of dedication of approximately 127,000 gross acres, or 104,000 net acres, largely located in the rich gas corridor of the southwestern core of the Marcellus Shale play. Under the GGA, Antero committed to deliver minimum annual throughput volumes to us for a seven year period from January 1, 2012 to January 1, 2019, ranging from an average of 300 MMcf/d in 2012 to an average of 450 MMcf/d in 2018. During the period ended December 31, 2012, Antero delivered less than the minimum annual throughput volumes and at December 31, 2012, we recorded a receivable and deferred revenue of approximately $2.6 million due to Antero’s potential ability to recover this amount if Antero’s 2013 throughput volumes exceeded the minimum annual throughput volumes included in the GGA for 2013. In the first quarter of 2013, Antero paid us approximately $2.4 million to satisfy their minimum volume commitment. For the year ended December 31, 2013, Antero's throughput volumes exceeded the 2013 minimum thresholds and was sufficient to recover their 2012 minimum volume shortfall that was previously paid. As a result of Antero's recovery of their 2012 shortfall, we reclassified approximately $2.4 million from deferred revenue to other accounts payable at December 31, 2013 to reflect the amount we owe to Antero. We reflect deferred revenue and other accounts payable as accrued expenses and other liabilities on our consolidated balance sheets. See Note 15 for additional information related to our Antero Acquisition. | ||||||||||||
Devon Acquisition | ||||||||||||
On August 24, 2012, we acquired certain gathering and processing assets in the NGL rich gas region of the Barnett Shale (the "Devon Acquisition") from Devon Energy Corporation ("Devon"). We paid approximately $87.3 million for these assets. During the year ended December 31, 2013, we finalized the purchase price allocation of the assets acquired and liabilities assumed, and as a result, we reduced our depreciation, amortization and accretion expense by approximately $2.2 million. | ||||||||||||
The final purchase price allocation is as follows (in millions): | ||||||||||||
Cash | $ | 87.9 | ||||||||||
Total purchase price | $ | 87.9 | ||||||||||
Purchase price allocation: | ||||||||||||
Property, plant and equipment | $ | 88.6 | ||||||||||
Total assets | 88.6 | |||||||||||
Asset retirement obligation | 0.5 | |||||||||||
Environmental liability | 0.2 | |||||||||||
Total liabilities | 0.7 | |||||||||||
Total | $ | 87.9 | ||||||||||
We believe that it is impracticable to present financial information for the acquired assets prior to the acquisition date due to the lack of availability of historical financial information related to the acquired assets, and because the 20-year fixed-fee gathering, processing and compression agreement with Devon has significantly different terms than the historical intercompany relationships between the acquired assets and Devon. | ||||||||||||
EMAC Acquisition | ||||||||||||
On December 28, 2012, CMM acquired all of the membership interest of E. Marcellus Asset Company, LLC ("EMAC") from Enerven Compression, LLC ("Enerven") for approximately $95.0 million. We financed this acquisition through CMM's credit facility. At the time of acquisition, EMAC’s assets consisted of four compression and dehydration stations located on our gathering systems in Harrison County, West Virginia. These assets provide compression and dehydration services to Antero under a compression services agreement through 2018. Antero has the option to renew the agreement for an additional five years upon expiration of the original agreement. | ||||||||||||
During the year ended December 31, 2013, we finalized the purchase price allocation of the assets acquired and liabilities assumed, and as a result, we reduced our depreciation, amortization and accretion expense by approximately $0.7 million. In addition, we recognized goodwill of approximately $8.6 million, primarily related to anticipated operating synergies between the assets acquired and our existing assets. | ||||||||||||
The final purchase price allocation is as follows (in millions): | ||||||||||||
Cash | $ | 95 | ||||||||||
Total purchase price | $ | 95 | ||||||||||
Purchase price allocation: | ||||||||||||
Property, plant and equipment | $ | 53.4 | ||||||||||
Intangible assets | 33.9 | |||||||||||
Goodwill | 8.6 | |||||||||||
Total assets | 95.9 | |||||||||||
Asset retirement obligation | 0.8 | |||||||||||
Environmental liability | 0.1 | |||||||||||
Total liabilities | 0.9 | |||||||||||
Total | $ | 95 | ||||||||||
Our intangible assets recorded as a result of the EMAC acquisition relate to the compression services agreements with Antero. These intangibles will be amortized over the life of the contracts. The financial results of EMAC prior to the date of acquisition were not material to our results of operations, therefore, pro forma information has not been provided. | ||||||||||||
2011 Acquisitions | ||||||||||||
Las Animas Acquisition | ||||||||||||
On February 16, 2011, we acquired certain midstream assets in the Avalon Shale trend from a group of independent producers for approximately $5.1 million (the "Las Animas Acquisition"). The acquired assets included approximately 46 miles of natural gas gathering pipeline located in the Morrow/Atoka trend and the Avalon Shale trend in southeastern New Mexico. The pipelines are supported by long-term fixed-fee contracts which include existing Morrow/Atoka production and dedications of approximately 55,000 acres. | ||||||||||||
During the year ended December 31, 2011, we recognized approximately $4.8 million of operating revenues and $0.1 million of operating income related to this acquisition. | ||||||||||||
Frontier Gas Acquisition | ||||||||||||
On April 1, 2011, we acquired certain midstream assets in the Fayetteville Shale and the Granite Wash from Frontier Gas Services, LLC for approximately $344.6 million (the "Frontier Gas Acquisition"). We financed $338.1 million of the purchase price through a combination of equity and debt as described in Note 9 and Note 11. | ||||||||||||
The acquired Fayetteville assets included approximately 130 miles of high pressure and low pressure gathering pipelines in northwestern Arkansas with capacity of approximately 510 MMcf/d, treating capacity of approximately 165 MMcf/d and approximately 35,000 hp compression (the "Fayetteville System"). The Fayetteville System interconnects with multiple interstate pipelines and is supported by long-term fixed-fee contracts with producers who dedicated to us approximately 100,000 acres in the core of the Fayetteville Shale. These contracts have initial terms that extend through 2020 and include an option, by either party to the contract, to extend the contract through 2025. The acquired Granite Wash assets included a 28-mile pipeline system and a 36 MMcf/d cryogenic processing plant in the Texas Panhandle (the "Granite Wash System"). The Granite Wash System is supported by more than 13,000 dedicated acres and long-term contracts with initial terms extending through 2022. | ||||||||||||
During the year ended December 31, 2011, we recognized approximately $59.0 million in operating revenues and $5.4 million in operating income related to this acquisition. | ||||||||||||
Tristate Acquisition | ||||||||||||
On November 1, 2011, we acquired Tristate Sabine, LLC ("Tristate") from affiliates of Energy Spectrum Capital, Zwolle Pipeline, LLC and Tristate’s management for approximately $72.4 million. We paid $64.4 million in cash at the closing, and we made a deferred payment of approximately $8.0 million in the fourth quarter of 2012. | ||||||||||||
At the time of acquisition, the Tristate assets located in Haynesville/Bossier Shale consisted of approximately 60 miles of high pressure and low pressure gathering pipelines with capacity of approximately 100 MMcf/d and treating capacity of approximately 80 MMcf/d (collectively, the "Sabine System"). The Sabine System is supported by long-term, fixed-fee contracts with producers who dedicated approximately 20,000 acres to us. These contracts have various initial terms that extend through 2019 and 2021. | ||||||||||||
During the year ended December 31, 2011, we recognized approximately $1.9 million in operating revenues and $0.9 million in operating income related to this acquisition. | ||||||||||||
Unaudited Pro Forma Information | ||||||||||||
The following table represents the pro forma consolidated statements of operations as if the Legacy Inergy reverse acquisition and Arrow acquisition had been included in our consolidated results for the years ended December 31, 2012 and 2011 and for the entire year ended December 31, 2013, and if the results of operations for the 2011 acquisitions had been included for the entire year ended December 31, 2011 (in millions, except per unit information). All other acquisitions were immaterial in consolidation. | ||||||||||||
Pro Forma Consolidated | ||||||||||||
Statement of Operations | ||||||||||||
(Unaudited) | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 (a) | 2011 (a) | ||||||||||
Revenues | $ | 3,449.30 | $ | 2,267.20 | $ | 1,713.70 | ||||||
Net income (loss) | $ | 3.9 | $ | 49.8 | $ | (35.0 | ) | |||||
Net income (loss) per limited partner unit(b): | ||||||||||||
Basic | $ | 0.04 | $ | 0.31 | $ | (0.25 | ) | |||||
Diluted | $ | 0.04 | $ | 0.29 | $ | (0.25 | ) | |||||
(a) | The years ended December 31, 2012 and 2011 have also been adjusted to reflect the contribution of Inergy, L.P.'s retail operations to Suburban Propane Partners on August 1, 2012 and the subsequent distribution on September 14, 2012 of 99% of the Suburban Propane Partners LP units acquired in the contribution as if that contribution and subsequent distribution had been removed from the consolidated results of operations at the beginning of each period presented. | |||||||||||
(b) Basic and diluted net income per limited partner unit for the years ended December 31, 2012 and 2011 were computed based on the presumption that the common and subordinated units issued to acquire Legacy Crestwood GP (the accounting predecessor) were outstanding for the entire period prior to the June 19, 2013 acquisition. | ||||||||||||
These amounts have been calculated after applying our accounting policies and adjusting the results of the acquisitions to reflect the depreciation and amortization that would have been charged assuming the preliminary fair value adjustments to property, plant and equipment and intangible assets had been made at the beginning of the respective reporting period. The purchase price allocation for the reverse acquisition of Legacy Inergy and Arrow acquisition has been prepared on a preliminary basis pending final asset valuation and asset rationalization, and changes are expected when additional information becomes available. Accordingly, the purchase accounting adjustments made in connection with the development of the unaudited pro forma are preliminary and subject to change. |
Investments_in_Unconsolidated_
Investments in Unconsolidated Affiliates | 12 Months Ended |
Dec. 31, 2013 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Investments in Unconsolidated Affiliates | ' |
Investments in Unconsolidated Affiliates | |
Jackalope Gas Gathering Services, L.L.C. | |
On July 19, 2013, Crestwood Niobrara LLC ("Crestwood Niobrara"), our consolidated subsidiary, acquired from RKI Exploration and Production, LLC’s ("RKI") a 50% ownership interest in Jackalope Gas Gathering Services, L.L.C. (“Jackalope”) for approximately $107.5 million. RKI is a privately-owned, independent exploration and production company in which an affiliate of Crestwood Holdings owns a significant minority ownership interest, and therefore is considered our related party. Access Midstream Partners, L.P. ("Access") operates and owns the remaining 50% interest in Jackalope. Crestwood Niobrara manages the commercial operations of the Jackalope system, and we account for our investment in Jackalope under the equity method of accounting. | |
Jackalope is developing a gathering and processing system to serve producers in and around Converse County, Wyoming. The Jackalope system and planned future development are supported by a 20-year gathering and processing agreement with Chesapeake Energy Corporation and RKI under an area of dedication of approximately 311,000 gross acres located in the core of the PRB Niobrara. During the year ended December 31, 2013, Crestwood Niobrara contributed an additional $19.6 million to Jackalope to fund its construction projects. | |
We have reflected the earnings from our investment in Jackalope in our consolidated statements of income, which includes our share of net earnings based on our ownership interest and other adjustments recorded by us as discussed below. During the year ended December 31, 2013, our share of Jackalope’s net earnings was approximately $1.5 million. As of December 31, 2013, our investment balance in Jackalope exceeded our equity in the underlying net assets of Jackalope by approximately $56.8 million. We amortize and generally assess the recoverability of this amount based on the life of Jackalope’s gathering agreement with Chesapeake and RKI. The amortization is reflected as reduction of our earnings from unconsolidated affiliates, and during the year ended December 31, 2013, we recorded amortization expense of approximately $1.4 million. | |
Jackalope is required to make quarterly distributions of its available cash to its members based on their respective ownership percentage. During the year ended December 31, 2013, Jackalope did not make any distributions to its members. | |
Our Jackalope investment is in included in our gathering and processing segment. | |
Powder River Basin Industrial Complex, LLC | |
On September 4, 2013, Crestwood Crude Logistics LLC ("Crude Logistics") and Enserco Midstream, LLC formed Powder River Basin Industrial Complex, LLC (“PRBIC”) to construct, own and operate an early-stage crude oil rail terminal located in Douglas County, Wyoming (the “Douglas Facility”). The Douglas Facility, which is located in the emerging PRB Niobrara Shale play, is anchored by a long-term agreement with a major producer for the throughput of crude oil volumes through the terminal. The Douglas Facility was placed into manifest service in August 2013, and unit train service is expected to begin during the first quarter of 2014. Crude Logistics paid approximately $22.5 million to acquire a 50.01% interest in PRBIC and invested approximately $1.9 million in PRBIC in 2013 since acquiring its equity interest. We account for our investment in PRBIC under the equity method of accounting. | |
Our investment in PRBIC was $24.2 million at December 31, 2013. During the year ended December 31, 2013, our share of PRBIC’s earnings were approximately $(0.2) million. As of December 31, 2013, our investment balance in PRBIC approximated our equity in the underlying net assets of PRBIC. | |
PRBIC is required to make quarterly distributions of its available cash to its members based on their respective ownership percentage. During the year ended December 31, 2013, PRBIC did not make any distributions to its members. | |
Our PRBIC investment is in included in our NGL and crude services segment. |
Risk_Management
Risk Management | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Risk Management - Notional Amounts and Terms of Companys Derivative Financial Instruments [Abstract] | ' | |||||
Risk Management | ' | |||||
Risk Management | ||||||
We are exposed to certain market risks related to our ongoing business operations. These risks include exposure to changing commodity prices as well as fluctuations in interest rates. We utilize derivative instruments to manage our exposure to fluctuations in commodity prices, which is discussed below. We also periodically utilize derivative instruments to manage our exposure to fluctuations in interest rates, which is discussed in Note 9. Additional information related to our derivatives is discussed in Note 2 and Note 7. | ||||||
Commodity Derivative Instruments and Price Risk Management | ||||||
Risk Management Activities | ||||||
We sell NGLs to energy related businesses and may use a variety of financial and other instruments including forward contracts involving physical delivery of NGLs. We will periodically enter into offsetting positions to economically hedge against the exposure our customer contracts create, however we do not designate these instruments as hedging instruments for accounting purposes. These instruments are marked to market with the changes in the market value reflected in costs of product/services sold. At December 31, 2013, the amount of these derivatives in costs of product/services sold was $10.7 million. We attempt to balance our contractual portfolio in terms of notional amounts and timing of performance and delivery obligations. This balance in the contractual portfolio significantly reduces the volatility in costs of product/services sold related to these instruments. | ||||||
Commodity Price and Credit Risk | ||||||
Notional Amounts and Terms | ||||||
The notional amounts and terms of our derivative financial instruments include the following at December 31, 2013 (in millions): | ||||||
31-Dec-13 | ||||||
Fixed Price | Fixed Price | |||||
Payor | Receiver | |||||
Propane, crude and heating oil (barrels) | 5.6 | 6.8 | ||||
Notional amounts reflect the volume of transactions, but do not represent the amounts exchanged by the parties to the financial instruments. Accordingly, notional amounts do not reflect our monetary exposure to market or credit risks. | ||||||
All contracts subject to price risk had a maturity of thirty-six months or less; however, 97.4% of the contracts expire within twelve months. | ||||||
Credit Risk | ||||||
Inherent in our contractual portfolio are certain credit risks. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. We take an active role in managing credit risk and have established control procedures, which are reviewed on an ongoing basis. We attempt to minimize credit risk exposure through credit policies and periodic monitoring procedures as well as through customer deposits, letters of credit and entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate. The counterparties associated with assets from price risk management activities as of December 31, 2013 were energy marketers and propane retailers, resellers and dealers. There were no activities associated with assets from price risk management at December 31, 2012. | ||||||
Certain of our derivative instruments have credit limits that require us to post collateral. The amount of collateral required to be posted is a function of the net liability position of the derivative as well as our established credit limit with the respective counterparty. If our credit rating were to change, the counterparties could require us to post additional collateral. The amount of additional collateral that would be required to be posted would vary depending on the extent of change in our credit rating as well as the requirements of the individual counterparty. The aggregate fair value of all commodity derivative instruments with credit-risk-related contingent features that are in a liability position on December 31, 2013, is $16.6 million for which we have posted $2.6 million of collateral in the normal course of business. We have posted $3.6 million of NYMEX margin deposits in the normal course of business. We have received collateral of $5.9 million in the normal course of business. All collateral amounts have been netted against the asset or liability with the respective counterparty. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract] | ' | |||||||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||
The accounting standard for fair value measurement establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The three levels of the fair value hierarchy are as follows: | ||||||||||||||||||||||||
• | Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, listed equities and US government treasury securities. | |||||||||||||||||||||||
• | Level 2—Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category include non-exchange-traded derivatives such as over the counter (“OTC”) forwards, options and physical exchanges. | |||||||||||||||||||||||
• | Level 3—Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. | |||||||||||||||||||||||
Cash and Cash Equivalents, Accounts Receivable and Accounts Payable | ||||||||||||||||||||||||
As of December 31, 2013 and December 31, 2012, the carrying amounts of cash and cash equivalents, accounts receivable (net of allowance for doubtful accounts) and accounts payable represent fair value based on their short-term nature. | ||||||||||||||||||||||||
Notes Payable and Other Obligations | ||||||||||||||||||||||||
As of December 31, 2013, the carrying value and fair value of our notes payable and other obligations are approximately the same due to the imputed interest rate being reset as a result of the reverse merger. Legacy Crestwood GP did not have a balance in notes payable and other obligations at December 31, 2012. | ||||||||||||||||||||||||
Credit Facilities | ||||||||||||||||||||||||
The fair value of our credit facilities approximates their carrying amounts as of December 31, 2013 and December 31, 2012, due primarily to the variable nature of the interest rates of the instruments. | ||||||||||||||||||||||||
Senior Notes | ||||||||||||||||||||||||
We estimate the fair value of our senior notes primarily based on quoted market prices for the same or similar issuances. This valuation methodology is considered level 2 in the fair value hierarchy. The following table reflects the carrying value and fair value of the senior notes (in millions): | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Carrying Amount | Fair | Carrying Amount | Fair | |||||||||||||||||||||
Value | Value | |||||||||||||||||||||||
CEQP senior unsecured notes | $ | 11.4 | $ | 11.6 | $ | — | $ | — | ||||||||||||||||
Crestwood Midstream 2022 senior unsecured notes | $ | 600 | $ | 617.3 | — | $ | — | $ | — | |||||||||||||||
Crestwood Midstream 2019 senior unsecured notes | $ | 351.2 | $ | 379.3 | $ | 351.5 | $ | 365.9 | ||||||||||||||||
Crestwood Midstream 2020 senior unsecured notes | $ | 504.7 | $ | 513.8 | $ | — | $ | — | ||||||||||||||||
Assets and Liabilities | ||||||||||||||||||||||||
As of December 31, 2013, we held certain assets and liabilities that are required to be measured at fair value on a recurring basis, which include our derivative instruments related to heating oil, crude oil, NGLs and interest rates. Our derivative instruments consist of forwards, swaps, futures, physical exchanges and options. | ||||||||||||||||||||||||
Certain of our derivative instruments are traded on the NYMEX. These instruments have been categorized as level 1. | ||||||||||||||||||||||||
Our derivative instruments also include OTC contracts, which are not traded on a public exchange. The fair values of these derivative instruments are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. These instruments have been categorized as level 2. | ||||||||||||||||||||||||
Our OTC options are valued based on the Black Scholes option pricing model that considers time value and volatility of the underlying commodity. The inputs utilized in the model are based on publicly available information as well as broker quotes. These options have been categorized as level 2. | ||||||||||||||||||||||||
The assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. | ||||||||||||||||||||||||
The following tables set forth by level within the fair value hierarchy, our assets and liabilities that were accounted for at fair value on a recurring basis at December 31, 2013 (in millions): | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Fair Value of Derivatives | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Netting | Total | |||||||||||||||||||
Agreements(a) | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||
Assets from price risk management | $ | 0.3 | $ | 27.7 | $ | — | $ | 28 | $ | (13.5 | ) | $ | 14.5 | |||||||||||
SPH units | 6.7 | — | — | 6.7 | — | 6.7 | ||||||||||||||||||
Total assets at fair value | $ | 7 | $ | 27.7 | $ | — | $ | 34.7 | $ | (13.5 | ) | $ | 21.2 | |||||||||||
Liabilities | ||||||||||||||||||||||||
Liabilities from price risk management | $ | 0.1 | $ | 39.5 | $ | — | $ | 39.6 | $ | (4.7 | ) | $ | 34.9 | |||||||||||
Interest rate swaps | — | 4.3 | — | 4.3 | — | 4.3 | ||||||||||||||||||
Total liabilities at fair value | $ | 0.1 | $ | 43.8 | $ | — | $ | 43.9 | $ | (4.7 | ) | $ | 39.2 | |||||||||||
(a) Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions as well as cash collateral held or placed with the same counterparties. | ||||||||||||||||||||||||
Legacy Crestwood GP had no assets or liabilities recorded at fair value at December 31, 2012. |
Earnings_Per_Limited_Partner_U
Earnings Per Limited Partner Unit | 12 Months Ended |
Dec. 31, 2013 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share | ' |
Earnings Per Limited Partner Unit | |
We own a non-economic general partnership interest and 100% of the IDRs in Crestwood Midstream. The general partner of Legacy Crestwood held general partner units and owned 100% of the IDRs of Legacy Crestwood and therefore, was allocated a portion of Legacy Crestwood’s net income based on its ownership interest after giving effect to the IDRs earned. Subsequent to the Crestwood Merger, net income attributable to the limited partners is determined by first allocating to us the IDRs earned from Crestwood Midstream (or, prior to the Crestwood Merger, the general partner and IDR interests of Inergy Midstream and Legacy Crestwood) with the remaining earnings allocated to the subordinated and limited partner unitholders based on their ownership percentage. | |
We calculate basic net income per limited partner unit by utilizing the two class method. Diluted net income per limited partner unit is computed by dividing net income attributable to the limited partners by the weighted-average number of units outstanding and the effect of dilutive units granted in the acquisition of Legacy Crestwood GP. The weighted average number of units outstanding is calculated based on the presumption that the common and subordinated units issued to acquire Legacy Crestwood GP (the accounting predecessor) were outstanding for the entire period prior to the June 19, 2013 acquisition. On the date of the acquisition, all of our limited partner units were considered outstanding. |
Debt
Debt | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Debt | ' | |||||||
Debt | ||||||||
Long-term debt consisted of the following at December 31, 2013 and December 31, 2012, (in millions): | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
CEQP credit facility | $ | 381 | $ | — | ||||
CEQP senior notes | 11.4 | — | ||||||
CEQP obligations under noncompetition agreements and notes to former owners of businesses acquired | 2.8 | — | ||||||
Crestwood Midstream Revolver | 414.9 | — | ||||||
Legacy Crestwood credit facility | — | 206.7 | ||||||
Crestwood Midstream 2019 senior notes | 350 | 350 | ||||||
Premium on Crestwood Midstream 2019 senior notes | 1.2 | 1.5 | ||||||
CMM credit facility | — | 127 | ||||||
Crestwood Midstream 2020 senior notes | 500 | — | ||||||
Fair value adjustment of Crestwood Midstream 2020 senior notes | 4.7 | — | ||||||
Crestwood Midstream 2022 senior notes | 600 | — | ||||||
Total debt | 2,266.00 | 685.2 | ||||||
Less: current portion | 5.1 | — | ||||||
Total long-term debt | $ | 2,260.90 | $ | 685.2 | ||||
We and our subsidiaries do not provide credit support or guarantee any amounts outstanding under the credit facilities or notes of Crestwood Midstream. Crestwood Midstream and its subsidiaries do not provide credit support or guarantee any amounts outstanding under our credit facility or senior notes. | ||||||||
CEQP Credit Facility | ||||||||
We utilize a secured credit facility (the "CEQP Credit Facility") with an aggregate revolving loan facility of $550 million due in July 2016, to fund working capital requirements, as a source of capital to fund capital expenditures and acquisitions and for general partnership purposes. All borrowings under the CEQP Credit Facility are generally secured by substantially all of our assets and the equity interests in all of our wholly owned subsidiaries, and loans thereunder bear interest, at our option, subject to certain limitations, at a rate equal to the following: | ||||||||
• | the Alternate Base Rate, which is defined as the higher of (i) the federal funds rate plus 0.50%; (ii) JP Morgan's prime rate; or (iii) Adjusted LIBOR plus 1%; plus a margin varying from 0.75% to 2.00%; or | |||||||
• | Adjusted LIBOR, which is defined as the LIBOR plus a margin varying from 1.75% to 3.00%. | |||||||
We are required to use 50% of the net cash proceeds (that are not applied to purchase replacement assets) from asset dispositions (other than the sale of inventory and motor vehicles in the ordinary course of business, sales of assets among us and our domestic subsidiaries and the sale or disposition of obsolete or worn-out equipment) to reduce borrowings under the CEQP Credit Facility during any fiscal year in which unapplied net cash proceeds are in excess of $50 million. | ||||||||
On August 28, 2013, we amended the CEQP Credit Facility to, among other things, (i) amend the definition of “Consolidated EBITDA” and (ii) change our fiscal year from September 30 to December 31. | ||||||||
On December 20, 2013, we further amended the CEQP Credit Facility. This amendment, among other things, (i) modifies our ratio of total funded debt (as defined in the credit agreement) to consolidated EBITDA financial covenant levels for the fiscal quarter ending December 31, 2013 (from 4.75 to 1.00 to 5.75 to 1.00) and for the quarter ending March 31, 2014 (from 4.75 to 1.00 to 5.50 to 1.00) and reverts to 4.75 for the quarter ended June 30, 2014 and all subsequent quarters, and (ii) incorporates customary equity cure rights subject to certain limitations and, with respect to the proceeds of such equity cures, restricted payment rights. | ||||||||
At December 31, 2013, the balance outstanding under the CEQP Credit Facility was $381.0 million. The interest rates of the CEQP Credit Facility are based on prime rate and LIBOR plus the applicable spreads, resulting in interest rates which were between 2.67% and 4.75% at December 31, 2013. Availability under the CEQP Credit Facility was approximately $116.3 million at December 31, 2013, subject to compliance with any applicable covenants under such facility. Outstanding standby letters of credit under the credit facility was approximately $52.7 million at December 31, 2013. | ||||||||
The credit agreement governing the CEQP Credit Facility contains various covenants and restrictive provisions that limit its ability to, among other things: incur additional debt; make distributions on or redeem or repurchase units; make certain investments and acquisitions; incur or permit certain liens to exist; enter into certain types of transactions with affiliates; merge, consolidate or amalgamate with another company; and transfer or otherwise dispose of assets. | ||||||||
The CEQP Credit Facility contains the following financial covenants: | ||||||||
• | the ratio of our total funded debt (as defined in the credit agreement) to consolidated EBITDA (as defined in the credit agreement) for the four fiscal quarters most recently ended must be no greater than 5.75 to 1.0 (subject to adjustments in future quarters as discussed above); and | |||||||
• | the ratio of our consolidated EBITDA to consolidated interest expense (as defined in the credit agreement), for the four fiscal quarters then most recently ended, must not be less than 2.50 to 1.0. | |||||||
At December 31, 2013, the total funded debt to consolidated EBITDA was approximately 4.22 to 1.0 and consolidated EBITDA to consolidated interest expense was approximately 8.93 to 1.0. | ||||||||
At December 31, 2013, we were in compliance with the debt covenants in the CEQP Credit Facility. | ||||||||
If we fail to perform our obligations under these and other covenants, the CEQP Credit Facility could be terminated and any outstanding borrowings, together with accrued interest, under the credit agreement could be declared immediately due and payable. The credit agreement also has cross default provisions that apply to any other material indebtedness of ours, excluding debt of Crestwood Midstream. | ||||||||
Events of default under the credit agreement governing the CEQP Credit Facility include, among other things: default in payment of principal when due; default in payment of interest, fees or other amounts within three days of their due date; and violation of specified affirmative and negative covenants. | ||||||||
We have entered into six interest rate swaps that mature in 2016 to reduce our exposure to variable interest payments due under the CEQP Credit Facility. These swap agreements require us to pay the counterparty an amount based on fixed rates from 0.84% to 2.52% due quarterly on an aggregate notional amount of $225 million. In exchange, the counterparty is required to make quarterly floating interest rate payments on the same date to us based on the three-month LIBOR applied to the same aggregate notional amount of $225 million. Included in net interest and debt expense on our consolidated statements of operations for the year ended December 31, 2013 was $0.1 million of interest income associated with these interest rate swaps. These interest rate swaps are not designated as hedges for accounting purposes. | ||||||||
CEQP Senior Notes | ||||||||
At December 31, 2013, we had $11.4 million in outstanding senior notes, the majority of which mature on October 1, 2018 and have a coupon rate of 7%. The outstanding senior notes do not contain any financial covenants. | ||||||||
Crestwood Midstream Revolver | ||||||||
Contemporaneously with the closing of the Crestwood Merger on October 7, 2013, Crestwood Midstream entered into a new five-year $1 billion senior secured revolving credit facility (the "Crestwood Midstream Revolver"). The Crestwood Midstream Revolver is available to fund acquisitions, working capital and internal growth projects and for general partnership purposes. The Crestwood Midstream Revolver includes a sub-limit up to $25 million for same-day swing line advances and a sub-limit up to $250 million for letters of credit. Subject to limited exception, the new credit facility is secured by substantially all of the equity interests and assets of Crestwood Midstream’s restricted domestic subsidiaries, and is joint and severally guaranteed by substantially all of its restricted domestic subsidiaries. | ||||||||
Crestwood Midstream borrowed $623.6 million under the Crestwood Midstream Revolver to repay in full and retire the credit facilities of Inergy Midstream, Legacy Crestwood and CMM. At December 31, 2013, the balance outstanding on the Crestwood Midstream Revolver was $414.9 million. Outstanding standby letters of credit under the Crestwood Midstream Revolver amounted to $30.7 million at December 31, 2013. As a result, Crestwood Midstream had $554.4 million of remaining capacity at December 31, 2013, subject to compliance with any applicable covenants under such facility. The weighted-average interest rate as of December 31, 2013 was 2.745%. | ||||||||
The Crestwood Midstream Revolver contains various covenants and restrictive provisions that limit Crestwood Midstream's ability to, among other things: | ||||||||
• | incur additional debt; | |||||||
• | make distributions on or redeem or repurchase units; | |||||||
• | make certain investments and acquisitions; | |||||||
• | incur or permit certain liens to exist; | |||||||
• | enter into certain types of transactions with affiliates; | |||||||
• | merge, consolidate or amalgamate with another company; and | |||||||
• | transfer or otherwise dispose of assets. | |||||||
If Crestwood Midstream fails to perform its obligations under these and other covenants, the lenders' credit commitment could be terminated and any outstanding borrowings, together with accrued interest, under the Crestwood Midstream Revolver could be declared immediately due and payable. The Crestwood Midstream Revolver also has cross default provisions that apply to any other material indebtedness of Crestwood Midstream. | ||||||||
Borrowings under the Crestwood Midstream Revolver (other than swing line loans) bear interest at its option at either: | ||||||||
• | the Alternate Base Rate, which is defined as the highest of (i) the federal funds rate plus 0.50%; (ii) JP Morgan's prime rate; or (iii) Adjusted LIBOR plus 1%; plus a margin varying from 0.75% to 1.75% depending on Crestwood Midstream's most recent total leverage ratio; or | |||||||
• | Adjusted LIBOR, which is defined as LIBOR plus a margin varying from 1.75% to 2.75% depending on Crestwood Midstream's most recent total leverage ratio. | |||||||
Swingline loans bear interest at the Alternate Base Rate plus a margin varying from 0.75% to 1.75%. The unused portion of the Crestwood Midstream Revolver is subject to a commitment fee ranging from 0.30% to 0.50% per annum according to Crestwood Midstream's most recent total leverage ratio. Interest on Alternative Base Rate loans is payable quarterly or, if Adjusted LIBOR applies, it may be paid at more frequent intervals. | ||||||||
The Crestwood Midstream Revolver requires maintenance of a consolidated leverage ratio (as defined in its credit agreement) of not more than 5.00 (subject to, at its election, a consolidated net leverage ratio of not more than 5.50 to 1.0 during certain periods following certain material acquisitions as further described in its credit agreement) to 1.0 and an interest coverage ratio (as defined in its credit agreement) of not less than 2.50 to 1.0. | ||||||||
At December 31, 2013, the total funded debt to consolidated EBITDA was approximately 4.90 to 1.0 and consolidated EBITDA to consolidated interest expense was approximately 3.56 to 1.0. | ||||||||
Crestwood Midstream 2019 Senior Notes | ||||||||
In April 2011, Legacy Crestwood and Crestwood Midstream Finance Corporation (“Legacy Crestwood Finance” and together with Legacy Crestwood, the “Legacy Crestwood Issuers”) issued $200 million in a private offering in aggregate principal amount of their 7.75% Senior Notes due 2019 (the “Initial 2019 Senior Notes”). On November 14, 2012, the Legacy Crestwood Issuers issued and sold an additional $150 million in a private offering in aggregate principal amount of their 7.75% Senior Notes due 2019 the “Additional 2019 Senior Notes,” and together with the Initial 2019 Senior Notes, the “2019 Senior Notes”). The 2019 Senior Notes will mature on April 1, 2019, and interest is payable semi-annually in arrears on April 1 and October 1 of each year. Interest payments commenced on October 1, 2011 and April 1, 2013 for the Initial 2019 Senior Notes and the Additional 2019 Senior Notes, respectively, noting that interest payable on the Additional 2019 Senior Notes' April 1, 2013 payment date commenced accruing on October 1, 2012. | ||||||||
Following the close of the Crestwood Merger on October 7, 2013, (i) Crestwood Midstream and Crestwood Midstream Finance Corp. (formerly known as NRGM Finance Corp., “Finance Corp”) assumed the obligations of Legacy Crestwood and Legacy Crestwood Finance under their 2019 Senior Notes; (ii) certain Legacy Crestwood subsidiary guarantors of the 2019 Senior Notes guaranteed the obligations of Crestwood Midstream and Finance Corp. under the 2020 Senior Notes described below; (iii) Crestwood Midstream’s subsidiary guarantors of the 2020 Senior Notes guaranteed the obligations of the Legacy Crestwood Issuers under the 2019 Senior Notes; and (iv) Legacy Crestwood Finance merged with and into NRGM Finance Corp., with NRGM Finance Corp. continuing as the surviving entity and immediately thereafter changing its name to Crestwood Midstream Finance Corp. | ||||||||
In general, the 2019 Senior Notes are fully and unconditionally guaranteed, joint and severally, on a senior unsecured basis by Crestwood Midstream’s domestic restricted subsidiaries (other than Finance Corp). The indenture contains customary release provisions, such as (i) disposition of all or substantially all the assets of, or the capital stock of, a guarantor subsidiary to a third person if the disposition complies with the indenture; (ii) designation of a guarantor subsidiary as an unrestricted subsidiary in accordance with its indentures; (iii) legal or covenant defeasance of a series of senior notes, or satisfaction and discharge of the related indenture; and (iv) guarantor subsidiary ceases to guarantee any other indebtedness of Crestwood Midstream or any other guarantor subsidiary, provided it no longer guarantees indebtedness under the Crestwood Midstream Revolver. | ||||||||
The indenture restricts the ability of Crestwood Midstream and its restricted subsidiaries to, among other things, sell assets; pay distributions on, redeem or repurchase Crestwood Midstream units, redeem or repurchase subordinated debt; make investments; incur or guarantee additional indebtedness or issue preferred units; create or incur certain liens; enter into agreements that restrict distributions or other payments to Crestwood Midstream from its restricted subsidiaries; consolidate, merge or transfer all or substantially all of their assets; and, engage in affiliate transactions; create unrestricted subsidiaries. These restrictions are subject to a number of important exceptions and qualifications, and many of these restrictions will terminate when the senior notes are rated investment grade and no default under the indenture has occurred and is continuing. | ||||||||
Crestwood Midstream 2020 Senior Notes | ||||||||
At December 31, 2013, the balance outstanding on Crestwood Midstream's 6.0% Senior Notes due 2020 (the “2020 Senior Notes”) was $500 million. We recorded a $4.7 million adjustment in conjunction with the Legacy Crestwood GP's reverse acquisition of us to adjust the debt to fair value. The senior notes will mature on December 15, 2020, and interest is payable semi-annually in arrears on June 15 and December 15 of each year. | ||||||||
In general, the 2020 Senior Notes are fully and unconditionally guaranteed, joint and severally, on a senior unsecured basis by Crestwood Midstream’s domestic restricted subsidiaries (other than Finance Corp.). The indenture contains customary release provisions, such as (i) disposition of all or substantially all of the assets of, or the capital stock of, a guarantor subsidiary to a third person if the disposition complies with the indenture; (ii) designation of a guarantor subsidiary as an unrestricted subsidiary in accordance with Crestwood Midstream’s indentures; and (iii) legal or covenant defeasance of a series of senior notes, or satisfaction and discharge of the related indenture. | ||||||||
The indenture restricts the ability of Crestwood Midstream and its domestic restricted subsidiaries to, among other things: sell assets; pay distributions on, redeem or repurchase Crestwood Midstream units or redeem or repurchase subordinated debt; make investments; incur or guarantee additional indebtedness or issue preferred units; create or incur certain liens; enter into agreements that restrict distributions or other payments to Crestwood Midstream from its restricted subsidiaries; consolidate, merge or transfer all or substantially all of their assets; engage in affiliate transactions; create unrestricted subsidiaries and enter into sale and leaseback transactions. These covenants are subject to a number of important exceptions and qualifications. At any time when the 2020 Senior Notes are rated investment grade by either of Moody’s Investors Service, Inc. or Standard & Poor’s Ratings Services and no default or event of default (each as defined in the indenture) has occurred and is continuing, many of these covenants will terminate. | ||||||||
Crestwood Midstream 2022 Senior Notes | ||||||||
On November 8, 2013, Crestwood Midstream and Finance Corp. completed an offering of $600 million in aggregate principal amount of 6.125% senior notes due 2022 (the "2022 Senior Notes") in a private offering exempt from the registration requirements of the Securities Act of 1933. At December 31, 2013, the balance outstanding on the 2022 Senior Notes was $600 million. The notes are guaranteed on a senior unsecured basis by substantially all of Crestwood Midstream’s domestic restricted subsidiaries (other than Finance Corp.), subject to certain exceptions. Crestwood Midstream used the net offering proceeds to fund a portion of the consideration paid in the Arrow Acquisition and to pay related fees and expenses, and to repay borrowings under the Crestwood Midstream Revolver. | ||||||||
In general, the 2022 Senior Notes are fully and unconditionally guaranteed, joint and severally, on a senior unsecured basis by Crestwood Midstream's domestic restricted subsidiaries (other than Finance Corp.). The indenture contains customary release provisions, such as (i) disposition of all or substantially all of the assets of, or the capital stock of, a guarantor subsidiary to a third person if the disposition complies with the indenture; (ii) designation of a guarantor subsidiary as an unrestricted subsidiary in accordance with Crestwood Midstream's indentures; and (iii) legal or covenant defeasance of a series of senior notes, or satisfaction and discharge of the related indenture. | ||||||||
The indenture restricts the ability of Crestwood Midstream and its domestic restricted subsidiaries to, among other things, sell assets; redeem or repurchase subordinated debt; make investments; incur or guarantee additional indebtedness or issue preferred units; create or incur certain liens; enter into agreements that restrict distributions or other payments to Crestwood Midstream from its restricted subsidiaries; consolidate, merge or transfer all of substantially all of their assets; create unrestricted subsidiaries; and engage in affiliate transactions. These restrictions are subject to a number of important exceptions and qualifications, and many of these restrictions will terminate when the senior notes are rated investment grade and no default under the indenture has occurred and is continuing. | ||||||||
At December 31, 2013, Crestwood Midstream was in compliance with all of its debt covenants. | ||||||||
Notes Payable and Other Obligations | ||||||||
Non-interest bearing obligations due under noncompetition agreements and other note payable agreements consisted of agreements between Legacy Inergy and the sellers of certain companies acquired from 2003 through 2013 with payments due through 2022 and imputed interest ranging from 6.75% to 8.00%. Non-interest bearing obligations consisted of $3.7 million in total payments due under agreements, less unamortized discount based on imputed interest of $0.9 million at December 31, 2013. | ||||||||
Maturities | ||||||||
The aggregate amounts of principal to be paid on the outstanding long-term debt and notes payable during the next five years ending December 31 and in total thereafter are as follows (in millions): | ||||||||
2014 | $ | 5.1 | ||||||
2015 | 1 | |||||||
2016 | 379.2 | |||||||
2017 | 0.2 | |||||||
2018 | 422.3 | |||||||
Thereafter | 1,452.30 | |||||||
Total debt | $ | 2,260.10 | ||||||
Residual Value Guarantee | ||||||||
In conjunction with the contribution of Legacy Inergy's retail operations to Suburban Propane Partners ("SPH") on August 1, 2012, Legacy Inergy entered into a support agreement with SPH pursuant to which it was obligated to provide contingent, residual support of approximately $497 million of aggregate principal amount of the 7.5% senior unsecured notes due 2018 of SPH and Suburban Energy Finance Corp. (collectively, the “SPH Issuers”) or any permitted refinancing thereof. Under the support agreement, in the event the SPH Issuers fail to pay any principal amount of the supported debt when due, we will pay directly to, or to the SPH Issuers for the benefit of, the holders of the supported debt an amount up to the principal amount of the supported debt that the SPH Issuers have failed to pay. We have no obligation to make a payment under the support agreement with respect to any accrued and unpaid interest or any redemption premium or other costs, fees, expenses, penalties, charges or other amounts of any kind whatsoever that shall be due to noteholders by the SPH Issuers, whether on or related to the supported debt or otherwise. The support agreement terminates on the earlier of the date the supported debt is extinguished or on the maturity date of supported debt or any permitted refinancing thereof. We believe the probability of any future payment on this residual value guarantee is remote. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The provision for income taxes for the years ended December 31, 2013, 2012, and 2011 consisted of the following (in millions): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 2.5 | $ | — | $ | — | ||||||
State | 1.3 | 1.2 | 1.3 | |||||||||
Total current | 3.8 | 1.2 | 1.3 | |||||||||
Deferred: | ||||||||||||
Federal | (2.5 | ) | — | — | ||||||||
State | (0.3 | ) | — | — | ||||||||
Total deferred | (2.8 | ) | — | — | ||||||||
Provision for income taxes | $ | 1 | $ | 1.2 | $ | 1.3 | ||||||
The effective rate differs from the statutory rate because the income tax provision for the year ended December 31, 2013 relates to taxable income of the corporations as discussed in Note 2. | ||||||||||||
Deferred income taxes related to our wholly owned subsidiary, IPCH Acquisition Corp. ("IPCHA"), reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Components of the deferred income taxes at December 31, 2013 are as follows (in millions). Legacy Crestwood GP did not have deferred income taxes at December 31, 2012. | ||||||||||||
December 31, | ||||||||||||
2013 | ||||||||||||
Deferred tax liabilities: | ||||||||||||
Basis difference in stock of acquired company | $ | (17.2 | ) | |||||||||
Total deferred tax liability | $ | (17.2 | ) | |||||||||
We are responsible for the Texas Margin tax computed on the Texas franchise tax return. The margin tax qualifies as an income tax under GAAP, which requires us to recognize the impact of this tax on the temporary differences between the financial statement assets and liabilities and their tax basis attributable to such tax. For the years ended December 31, 2013, 2012 and 2011, there were no temporary differences recognized in our consolidated statements of operations. | ||||||||||||
Uncertain Tax Positions. We evaluate the uncertainty in tax positions taken or expected to be taken in the course of preparing our consolidated financial statements to determine whether the tax positions are more likely than not of being sustained by the applicable tax authority. Tax positions with respect to tax at the partnership level deemed not to meet the more likely than not threshold would be recorded as a tax benefit or expense in the current year. We believe that there are no uncertain tax positions that would impact our operations for the years ended December 31, 2013, 2012 and 2011 and that no provision for income tax is required for these consolidated financial statements. However, our conclusions regarding the evaluation are subject to review and may change based on factors including, but not limited to, ongoing analyses of tax laws, regulations and interpretations thereof. |
Partners_Capital
Partners' Capital | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Partners' Capital Account, Distributions [Abstract] | ' | |||||||||||||||||
Partners' Capital | ' | |||||||||||||||||
Partners’ Capital | ||||||||||||||||||
Unit Issuances | ||||||||||||||||||
We periodically sell common units in public offerings to generate funds to reduce our indebtedness under our credit facilities and to fund acquisitions. The table below presents limited partner unit issuances by Legacy Crestwood, Inergy Midstream and Crestwood Midstream. | ||||||||||||||||||
Issuer | Issuance Date | Units | Per Unit | Per Unit | Net | |||||||||||||
Gross Price | Net Price (1) | Proceeds | ||||||||||||||||
Legacy Crestwood | April 1, 2011 | 6,243,000 | (2) | $ | 24.5 | $ | — | $ | 152.7 | |||||||||
Legacy Crestwood | May 4, 2011 | 1,800,000 | 30.65 | 29.75 | 53.6 | |||||||||||||
Legacy Crestwood | January 13, 2012 | 3,500,000 | 30.73 | 29.5 | 103.1 | |||||||||||||
Legacy Crestwood | July 25, 2012 | 4,600,000 | (3) | 26 | 24.97 | 114.4 | ||||||||||||
Legacy Crestwood | March 22, 2013 | 5,175,000 | (4) | 23.9 | 23 | 118.5 | ||||||||||||
Inergy Midstream | September 13, 2013 | 11,773,191 | (5) | 22.5 | 21.69 | 255.2 | ||||||||||||
Crestwood Midstream | October 23, 2013 | 16,100,000 | (6) | N/A | 21.19 | 340.3 | ||||||||||||
(1) | Price is net of underwriting discounts. | |||||||||||||||||
(2) | Represents Class C units. | |||||||||||||||||
(3) | Includes 600,000 units that were issued in August 2012. | |||||||||||||||||
(4) | Includes 675,000 units that were issued in April 2013. | |||||||||||||||||
(5) | Includes 773,191 units that were issued on October 7, 2013. | |||||||||||||||||
(6) | Includes 2,100,000 units that were issued on October 30, 2013. | |||||||||||||||||
During 2011 and 2013, Legacy Crestwood issued Class C and Class D units, respectively, representing limited partner units. Legacy Crestwood had the option to pay distributions to its Class C and Class D unitholders with cash or by issuing additional paid-in-kind units based upon the volume common unit weighted-average price for 10 trading days immediately preceding the date the distribution was declared. On April 1, 2013, the outstanding Legacy Crestwood Class C units converted to common units on a one-for-one basis. In conjunction with the Crestwood Merger, Legacy Crestwood unitholders received 1.07 units of Legacy Inergy units for each unit of Legacy Crestwood they owned and as a result, there were no common or Class D units outstanding immediately following the Crestwood Merger. During 2013, Legacy Crestwood issued 183,995 and 292,660 additional Class C and Class D units in lieu of paying a quarterly cash distribution. For the years ended December 31, 2012 and 2011, Legacy Crestwood issued 633,084 and 473,731 additional Class C units in lieu of paying quarterly cash distributions. | ||||||||||||||||||
Contributions | ||||||||||||||||||
During 2012, Legacy Crestwood's general partner made additional capital contributions of approximately $5.9 million in exchange for the issuance of an additional 215,722 general partner units. During 2011, the Legacy Crestwood general partner made an additional capital contribution of approximately $8.7 million in exchange for the issuance of an additional 293,948 general partner units. | ||||||||||||||||||
Distributions | ||||||||||||||||||
We make quarterly distributions to the partners within approximately 45 days after the end of each quarter in an aggregate amount equal to our available cash for such quarter. Available cash generally means, with respect to each quarter, all cash on hand at the end of the quarter less the amount of cash that the general partner determines in its reasonable discretion is necessary or appropriate to: | ||||||||||||||||||
• | provide for the proper conduct of our business; | |||||||||||||||||
• | comply with applicable law, any of our debt instruments, or other agreements; or | |||||||||||||||||
• | provide funds for distributions to unitholders for any one or more of the next four quarters; | |||||||||||||||||
plus all cash on hand on the date of determination of available cash for the quarter resulting from working capital borrowings made after the end of the quarter. Working capital borrowings are generally borrowings that are made under our working capital facility and in all cases are used solely for working capital purposes or to pay distributions to partners. | ||||||||||||||||||
Distributions to Partners | ||||||||||||||||||
During the years ended December 31, 2013, 2012 and 2011, Legacy Crestwood GP paid cash distributions to its member of $9.3 million, $13.8 million and $5.9 million. | ||||||||||||||||||
A summary of our limited partner quarterly distributions for the year ended December 31, 2013 (subsequent to the June 19, 2013 reverse acquisition) is presented below: | ||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||
Record Date | Payment Date | Per Unit Rate | Cash Distributions | |||||||||||||||
(in millions) | ||||||||||||||||||
August 7, 2013 | August 14, 2013 | $ | 0.13 | $ | 22.3 | |||||||||||||
November 7, 2013 | November 14, 2013 | $ | 0.135 | 25 | ||||||||||||||
$ | 47.3 | |||||||||||||||||
On February 14, 2014, we paid a distribution of $0.1375 per limited partner unit to unitholders of record on February 7, 2014 with respect to the fourth quarter of 2013. | ||||||||||||||||||
Distributions to Non-Controlling Partners | ||||||||||||||||||
Crestwood Midstream and Legacy Crestwood paid cash distributions to its common unitholders of $179.6 million for the year ended December 31, 2013. Legacy Crestwood paid cash distributions to its common unitholders of $77.7 million and $58.1 million for the year ended December 31, 2012 and 2011. | ||||||||||||||||||
Other Partners' Capital Transactions | ||||||||||||||||||
Crestwood Merger | ||||||||||||||||||
In conjunction with Crestwood Holdings’ acquisition of our general partner, we issued 4,387,889 subordinated units, which are considered limited partnership interests, and have the same rights and obligations as our common units, except that the subordinated units are entitled to receive distributions of available cash for a particular quarter only after each of our common units has received a distribution of at least $0.13 for that quarter. Our subordinated units convert to common units after our common units have received a cumulative distribution in excess of $0.52 during a consecutive four quarter period. | ||||||||||||||||||
As discussed in Note 1, in conjunction with the Crestwood Merger, Legacy Crestwood unitholders received 1.07 units of Inergy Midstream units for each Legacy Crestwood unit they owned and as a result, there were no Legacy Crestwood common or Class D units outstanding immediately following the merger. In addition, Legacy Crestwood unitholders also received a $34.9 million distribution, $10 million of which was funded as a non-cash contribution from Crestwood Holdings and is reflected on our consolidated statements of partners’ capital as contribution from Crestwood Holding LLC for the year ended December 31, 2013. We reflected the distribution of $34.9 million as distributions to non-controlling partners on our consolidated statements of partners’ capital for the year ended December 31, 2013. | ||||||||||||||||||
In conjunction with the Crestwood Merger, the restricted units outstanding under the Legacy Inergy long-term incentive plan were modified to accelerate the vesting of certain outstanding awards on December 31, 2013. We reflected the cash paid of approximately $11.8 million related to these vesting units as distributions to partners on our consolidated statements of cash flows for the year ended December 31, 2013. | ||||||||||||||||||
Following the closing of the Crestwood Merger, Crestwood Holdings exchanged 7,100,000 common units of CMLP for 14,300,000 common units of CEQP pursuant to an option obtained on June 19, 2013 when it acquired our general partner. This exchange resulted in a $182.3 million decrease to the interest of non-controlling partners and a $182.3 million increase to partners' capital on our consolidated statements of partners' capital. | ||||||||||||||||||
Acquisitions and Other | ||||||||||||||||||
CMM. In February 2012, Legacy Crestwood and Crestwood Holdings formed the CMM joint venture. Legacy Crestwood contributed approximately $131.3 million for a 35% membership interest and Crestwood Holdings contributed approximately $243.8 million for a 65% membership interest. On January 8, 2013, Legacy Crestwood acquired Crestwood Holdings’ 65% membership interest in CMM for approximately $258.0 million, which was funded through $129.0 million of borrowings under the Legacy Crestwood credit facility, the issuance of 6,190,469 Class D units and the issuance of 133,060 general partner units to the Legacy Crestwood general partner. As a result of the acquisition of the additional membership interest, Legacy Crestwood had the ability to control CMM’s operating and financial decisions and policies. The transaction was accounted for as a reorganization of entities under common control and accordingly, the historical results of Legacy Crestwood were retrospectively adjusted to reflect the change in reporting entity as of and for the year ended December 31, 2012. We reflected the $243.8 million contribution by Crestwood Holdings as contributions from non-controlling partners in our consolidated statements of cash flows and statements of partners’ capital for the year ended December 31, 2012. The issuances of the Class D and general partner units in conjunction with the acquisition of the additional interest in CMM were reflected as distributions for additional interest in Crestwood Marcellus Midstream LLC in our consolidated statements of cash flows and statements of partners’ capital for the year ended December 31, 2013. | ||||||||||||||||||
Arrow. On November 7, 2013, Crestwood Midstream issued 8,826,125 common units as partial consideration of the Arrow Acquisition. See Note 4 for additional information regarding the Arrow Acquisition. | ||||||||||||||||||
Other. In connection with the Crestwood Holdings’ acquisition of Legacy Crestwood, Legacy Crestwood GP agreed to pay Quicksilver conditional consideration in the form of potential additional cash payments of up to $72 million depending on the achievement of certain defined average volume targets above an agreed threshold for 2011 and 2012. At December 31, 2011, the fair value of the conditional consideration was determined to be approximately $47.9 million. We recognized a gain of approximately $17.2 million for the year ended December 31, 2011 as a result of the reduction in the fair value of the contingent consideration. | ||||||||||||||||||
In February 2012, Crestwood Holdings paid Quicksilver approximately $41.1 million on behalf of Legacy Crestwood GP associated with the average volumes achieved for 2011. We reflected this payment as a non-cash contribution from non-controlling partners on our consolidated statements of partners’ capital for the year ended December 31, 2012. As of December 31, 2012, Quicksilver did not achieve their 2012 average volume target. As such, we determined that the estimated fair value of our remaining conditional consideration to Quicksilver was zero, and we recognized a gain of approximately $6.8 million for the year ended December 31, 2012 related to the elimination of the contingent liability. | ||||||||||||||||||
Preferred Equity of Subsidiary | ||||||||||||||||||
In conjunction with the Jackalope Acquisition discussed in Note 5, Crestwood Niobrara issued a preferred interest of approximately $80.6 million to a subsidiary of General Electric Capital Corporation and GE Structured Finance, Inc. (collectively, “GE”). The preferred interest is reflected as non-controlling interest in our consolidated financial statements. During the year ended December 31, 2013, we allocated approximately $4.9 million of net income to the non-controlling interest, which was based on the overall return attributable to the preferred security. | ||||||||||||||||||
Crestwood Niobrara will fund 75% of future capital contributions to Jackalope through additional preferred interest issuances to GE (up to a maximum of an additional $53.9 million), with the remainder to be funded through our capital contributions to Crestwood Niobrara. During the year ended December 31, 2013, GE contributed $96.1 million (which consisted of the initial contribution of $80.6 million and additional capital contributions of $15.5 million) to Crestwood Niobrara in exchange for an equivalent number of preferred units. The proceeds from GE’s initial contribution were used to fund a portion of the Jackalope acquisition price, and the proceeds from the subsequent contributions were used to fund capital contributions to the Jackalope investment. | ||||||||||||||||||
Crestwood Niobrara has the option to pay distributions to GE with cash or by issuing additional preferred units through the January 2015 distribution. On October 30, 2013, Crestwood Niobrara issued GE approximately 2,161,657 units in lieu of paying a cash distribution. Crestwood Midstream serves as the managing member of Crestwood Niobrara and, subject to certain restrictions, it has the ability to redeem GE’s preferred interest in either cash or Crestwood Midstream common units. On January 31, 2014, Crestwood Niobrara issued 2,210,294 preferred units to GE in lieu of paying a cash distribution. |
Equity_Plan
Equity Plan | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Equity [Abstract] | ' | |||||||||||||
Equity Plan | ' | |||||||||||||
Equity Plan | ||||||||||||||
CEQP | ||||||||||||||
Unit Purchase Plan | ||||||||||||||
Legacy Inergy's general partner sponsored a unit purchase plan for its employees and the employees of its affiliates. The unit purchase plan permits participants to purchase common units in market transactions from Legacy Inergy, the general partners or any other person. All purchases made have been in market transactions, although the plan allows Legacy Inergy to issue additional units. Legacy Inergy has reserved 100,000 units for purchase under the unit purchase plan. As determined by the compensation committee, the general partner may match each participant's cash base pay or salary deferrals by an amount up to 10% of such deferrals and have such amount applied toward the purchase of additional units. The general partner has also agreed to pay the brokerage commissions, transfer taxes and other transaction fees associated with a participant's purchase of common units. The maximum amount that a participant may elect to have withheld from his or her salary or cash base pay with respect to unit purchases in any calendar year may not exceed 10% of his or her base salary or wages for the year. Units purchased on behalf of a participant under the unit purchase plan generally are to be held by the participant for at least one year. To the extent a participant desires to sell or dispose of such units prior to the end of this one year holding period, the participant will be ineligible to participate in the unit purchase plan again until the one year anniversary of the date of such sale. The unit purchase plan is intended to serve as a means for encouraging participants to invest in common units. There were 10,968 units purchased through the unit purchase plan by Legacy Inergy and its employees for the year ended December 31, 2013. We continue to maintain and sponsor this plan. | ||||||||||||||
Long-Term Incentive Plan | ||||||||||||||
Legacy Inergy’s general partner sponsored a long-term incentive plan for its employees, consultants and directors and the employees of its affiliates that performed services for Legacy Inergy. Restricted units were the only type of unvested award outstanding at the time of the Crestwood Merger on June 19, 2013. In conjunction with the Crestwood Merger, the restricted units outstanding under the long-term incentive plan were modified to accelerate the vesting of all the outstanding awards on either the earlier of their original vesting date, or December 31, 2013 or June 19, 2014, depending on the respective employee. We continue to maintain and sponsor this plan. | ||||||||||||||
During the period June 19, 2013 to December 31, 2013, 670,658 restricted units vested at a per unit price of $13.96. Total compensation expense associated with vested and unvested awards amounted to $5.9 million for the year ended December 31, 2013. At December 31, 2013, there were 446,581 unvested restricted units outstanding at a per unit price of $13.96 and total unrecognized compensation expense associated with these restricted units amounted to $1.6 million. That cost is expected to be recognized over the period January 1, 2014 to June 19, 2014. | ||||||||||||||
CMLP | ||||||||||||||
Long-Term Incentive Plan | ||||||||||||||
Inergy Midstream's general partner sponsored a long-term incentive plan for its employees, consultants and directors and the employees of its affiliates that performed services for Inergy Midstream. Restricted units were the only type of unvested award outstanding at the time of the Crestwood Merger on June 19, 2013. In conjunction with the Crestwood Merger, the restricted units outstanding under the long-term incentive plan were modified to accelerate the vesting of all the outstanding awards on the earlier of their original vesting date, or either December 31, 2013 or June 19, 2014, depending on the respective employee. Crestwood Midstream continues to maintain and sponsor this plan. | ||||||||||||||
During the period June 19, 2013 to December 31, 2013, 230,384 restricted units vested at a per unit price of $22.16. Total compensation expense associated with vested and unvested awards amounted to $4.9 million for the year ended December 31, 2013. At December 31, 2013, there were 195,250 unvested restricted units outstanding at a per unit price of $22.16 and total unrecognized compensation expense associated with these restricted units amounted to $1.8 million. That cost is expected to be recognized over the period January 1, 2014 to June 19, 2014. | ||||||||||||||
Legacy Crestwood | ||||||||||||||
Long-Term Incentive Plan | ||||||||||||||
Prior to the Crestwood Merger, awards of phantom and restricted units were granted under the Legacy Crestwood Fourth Amended and Restated 2007 Equity Plan (the "2007 Equity Plan"). The 2007 Equity Plan was terminated in conjunction with the Crestwood Merger. All of the unvested phantom and restricted units became vested upon consummation of the Crestwood Merger and all unamortized compensation expense related to those units was recognized on that date. The following table summarizes information regarding phantom and restricted unit activity: | ||||||||||||||
Payable In Cash | Payable In Units | |||||||||||||
Units | Weighted- | Units | Weighted- | |||||||||||
Average Grant | Average Grant | |||||||||||||
Date Fair | Date Fair | |||||||||||||
Value | Value | |||||||||||||
Unvested - December 31, 2011 | 13,346 | $ | 26.4 | 128,795 | $ | 27.22 | ||||||||
Vested - phantom units | (4,267 | ) | $ | 26.46 | (40,929 | ) | $ | 27.21 | ||||||
Vested - restricted units | — | $ | — | (4,682 | ) | $ | 27.53 | |||||||
Granted - phantom units | — | $ | — | 126,246 | $ | 29.9 | ||||||||
Granted - restricted units | — | $ | — | 37,500 | $ | 25.67 | ||||||||
Canceled - phantom units | (767 | ) | $ | 25.63 | (24,938 | ) | $ | 28.3 | ||||||
Unvested - December 31, 2012 | 8,312 | $ | 26.45 | 221,992 | $ | 28.35 | ||||||||
Vested - phantom units | (7,958 | ) | $ | 26.48 | (329,825 | ) | $ | 26.69 | ||||||
Vested - restricted units | — | $ | — | (74,760 | ) | $ | 25.6 | |||||||
Granted - phantom units | — | $ | — | 161,807 | $ | 24.33 | ||||||||
Granted - restricted units | — | $ | — | 27,900 | $ | 24.86 | ||||||||
Canceled - phantom units | (354 | ) | $ | 25.81 | (7,114 | ) | $ | 27.96 | ||||||
Unvested - December 31, 2013 | — | $ | — | — | $ | — | ||||||||
As discussed above, the vesting period of our phantom and restricted units were accelerated upon consummation of the Crestwood Merger. Crestwood Midstream recognized compensation expense under the 2007 Equity Plan of approximately $6.5 million, $1.9 million and $0.9 million for the years ended December 31, 2013, 2012 and 2011, included in operating expenses on our consolidated statements of income. Crestwood Midstream granted phantom and restricted units under the 2007 Equity Plan with a grant date fair value of approximately $4.6 million, $4.7 million and $0.8 million for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||
Under the 2007 Equity Plan, participants who were granted restricted units could elect to have Crestwood Midstream withhold common units to satisfy minimum statutory tax withholding obligations arising in connection with the vesting of non-vested common units. Any such common units withheld were returned to the 2007 Equity Plan on the applicable vesting dates, which corresponded to the times at which income was recognized by the employee. When Crestwood Midstream withheld these common units, they were required to remit to the appropriate taxing authorities the fair value of the units withheld as of the vesting date. The number of units withheld was determined based on the closing price per common unit as reported on the NYSE on such dates. For the years ended December 31, 2013 and 2012, Crestwood Midstream withheld 21,014 and 1,405 common units to satisfy employee tax withholding obligations. There were no common units withheld to satisfy employee tax withholding obligations for the year ended December 31, 2011. |
Employee_Benefit_Plan
Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2013 | |
Postemployment Benefits [Abstract] | ' |
Employee Benefit Plans | ' |
Employee Benefit Plans | |
A 401(k) plan is available to all of our employees after meeting certain requirements. The plan permits employees to make contributions up to 75% of their salary, up to statutory limits, which was $17,500 in 2013. The plan provides for matching contributions by us for employees completing one year of service of at least 1,000 hours. Aggregate matching contributions made by us were $0.5 million in 2013. Neither Legacy Crestwood GP nor Legacy Crestwood had any employees. Employees of Crestwood Holdings provided services to Legacy Crestwood GP and Legacy Crestwood pursuant to an omnibus agreement. |
Asset_Retirement_Obligations
Asset Retirement Obligations | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | |||||||
Asset Retirement Obligation | ' | |||||||
Asset Retirement Obligations | ||||||||
We have legal obligations associated with right-of-way contracts we hold and at our facilities whether owned or leased. Where we can reasonably estimate the asset retirement obligation, we accrue a liability based on an estimate of the timing and amount of settlement. We record changes in these estimates based on changes in the expected amount and timing of payments to settle our obligations. | ||||||||
The following table presents the changes in the net asset retirement obligations for the years ended December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Net asset retirement obligation at January 1 | $ | 14 | $ | 11.5 | ||||
Liabilities incurred | — | 0.4 | ||||||
Acquisitions | — | 1.4 | ||||||
Accretion expense | 0.8 | 0.7 | ||||||
Changes in estimate | 0.3 | — | ||||||
Net asset retirement obligation at December 31 | $ | 15.1 | $ | 14 | ||||
We did not have any material assets that were legally restricted for use in settling asset retirement obligations as of December 31, 2013 and 2012. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
Legal Proceedings | ||||
Class Action Lawsuits. Five putative class action lawsuits challenging the Crestwood Merger have been filed, four in federal court in the United States District Court for the Southern District of Texas: (i) Abraham Knoll v. Robert G. Phillips, et al. (Case No. 4:13-cv-01528); (ii) Greg Podell v. Crestwood Midstream Partners, LP, et al. (Case No. 4:13-cv-01599); (iii) Johnny Cooper v. Crestwood Midstream Partners LP, et al. (Case No. 4:13-cv-01660); and (iv) Steven Elliot LLC v. Robert G. Phillips, et al. (Case No. 4:13-cv-01763), and one in Delaware Chancery Court, Hawley v. Crestwood Midstream Partners LP, et al. (Case No. 8689-VCL). All of the cases name Legacy Crestwood (since merged into the Company), Crestwood Gas Services GP LLC, Crestwood Holdings LLC, the current and former directors of Crestwood Gas Services GP LLC, the Company, Inergy Midstream, Crestwood Midstream GP LLC (formerly NRGM GP, LLC), and Intrepid Merger Sub, LLC as defendants. All of the suits are brought by a purported holder of common units of Inergy Midstream, both individually and on behalf of a putative class consisting of holders of common units of Inergy Midstream. The lawsuits generally allege, among other things, that the directors of Crestwood Gas Services GP LLC breached their fiduciary duties to holders of common units of Inergy Midstream by agreeing to a transaction with inadequate consideration and unfair terms and pursuant to an inadequate process. The lawsuits further allege that the Company, Inergy Midstream, Crestwood Midstream GP LLC, and Intrepid Merger Sub, LLC aided and abetted the Legacy Crestwood directors in the alleged breach of their fiduciary duties. The lawsuits seek, in general, (i) injunctive relief enjoining the merger, (ii) in the event the merger is consummated, rescission or an award of rescissory damages, (iii) an award of plaintiffs' costs, including reasonable attorneys' and experts' fees, (iv) the accounting by the defendants to plaintiffs for all damages caused by the defendants, and (v) such further equitable relief as the court deems just and proper. Certain of the actions also assert claims of inadequate disclosure under Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, and the Elliot case also names Citigroup Global Markets Inc. as an alleged aider and abettor. The plaintiff in the Hawley action in Delaware filed a motion for expedited proceedings but subsequently withdrew that motion and then filed a stipulation voluntarily dismissing the action without prejudice (which has not yet been approved by the Court). The plaintiffs in the Knoll, Podell, Cooper, and Elliot actions filed an unopposed motion to consolidate these four cases, which the Court granted and captioned the consolidated matter as In re Crestwood Midstream Partners Unitholder Litigation, Lead Case No. 4:13-cv-01528 (the “Consolidated Action”). The plaintiffs entered into a Memorandum of Understanding (MOU) on September 24, 2013 to settle the Consolidated Action whereby the defendants denied liability. The settlement contemplated by the MOU is subject to a number of conditions, including notice to the class and final court approval following completion of a settlement hearing, which is scheduled for May 16, 2014. The defendants expect the Court to approve the final settlement. The anticipated settlement of the MOU will not have a material impact to our consolidated financial statements. | ||||
Letter of Intent. In June 2010, Inergy Midstream and Central New York Oil And Gas Company, L.L.C. (“CNYOG”) entered into a letter of intent with Anadarko Petroleum Corporation (“Anadarko”) which contemplated that, subject to certain conditions, Anadarko may exercise an option to acquire up to a 25% ownership interest in the MARC I pipeline. On September 23, 2011, Anadarko filed a complaint against Inergy Midstream and CNYOG in the Court of Common Pleas in Lycoming County, Pennsylvania (Cause No. 11-01697) alleging that (i) Anadarko had an option to acquire, and timely exercised its option to acquire, a 25% ownership interest in the MARC I pipeline, (ii) Inergy Midstream refused to enter into definitive agreements under which Anadarko would acquire a 25% interest in the pipeline and, by doing so, Inergy Midstream breached the letter of intent, and (iii) by refusing to enter into definitive agreements, Inergy Midstream breached a duty of good faith and fair dealing in connection with the letter of intent. Based on these allegations, Anadarko sought various remedies, including specific performance of the letter of intent and monetary damages. | ||||
On September 9, 2013, Inergy Midstream and Anadarko entered into a confidential settlement agreement to resolve any and all claims relating to the litigation. We have reimbursed Inergy Midstream for the amount paid to Anadarko under the settlement agreement pursuant to the omnibus agreement that governs Inergy Midstream's relationship with us. | ||||
Declaratory Action. In January 2014, the entity from whom we lease our Tres Palacios caverns, Underground Services Markham, LLC (“USM”), filed a petition in the 269th Judicial District Court, Harris County, Texas (Case No. 2014-00823) requesting declaratory judgment on numerous fronts, including whether or not TPGS has breached its lease obligations by filing an application with the FERC to reduce the certificated working gas storage capacity of our Tres Palacios natural gas storage facility. We filed our response to USM’s petition on January 31, 2014, and requested that the court dismiss the petition based on several grounds. We have been advised by the district court that a hearing on USM's motion will be held in early March 2014. We believe that TPGS is entitled to request FERC authorization to reduce Tres Palacios’ certificated working gas storage capacity under our lease and that USM’s claims are without merit, and we intend to vigorously defend ourselves in the lawsuit. | ||||
We are periodically involved in litigation proceedings. If we determine that a negative outcome is probable and the amount of loss is reasonably estimable, then we accrue the estimated amount. The results of litigation proceedings cannot be predicted with certainty; however, management believes that we do not have material potential liability in connection with these proceedings that would have a significant financial impact on its consolidated financial condition, results of operations or cash flows. However, we could incur judgments, enter into settlements or revise its expectations regarding the outcome of certain matters, and such developments could have a material adverse effect on our results of operations or cash flows in the period in which the amounts are paid and/or accrued. As of December 31, 2013 and 2012, we had less than $0.1 million accrued for our outstanding legal matters. | ||||
Any loss estimates are inherently subjective, based on currently available information, and are subject to management's judgment and various assumptions. Due to the inherently subjective nature of these estimates and the uncertainty and unpredictability surrounding the outcome of legal proceedings, actual results may differ materially from any amounts that have been accrued. | ||||
Regulatory Compliance | ||||
In the ordinary course of our business, we are subject to various laws and regulations. In the opinion of our management, compliance with current laws and regulations will not have a material effect on its results of operations, cash flows or financial condition. | ||||
Environmental Compliance | ||||
Our operations are subject to stringent and complex laws and regulations pertaining to health, safety, and the environment. We are subject to laws and regulations at the federal, state and local levels that relate to air and water quality, hazardous and solid waste management and disposal and other environmental matters. The cost of planning, designing, constructing and operating our facilities must incorporate compliance with environmental laws and regulations and safety standards. Failure to comply with these laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures. Our accruals for environmental matters were immaterial at December 31, 2013 and 2012. | ||||
Self-Insurance | ||||
We utilize third-party insurance subject to varying retention levels of self-insurance, which management considers prudent. Such self-insurance relates to losses and liabilities primarily associated with medical claims, workers' compensation claims and general, product, vehicle and environmental liability. Losses are accrued based upon management's estimates of the aggregate liability for claims incurred using certain assumptions followed in the insurance industry and based on past experience. The primary assumption utilized is actuarially determined loss development factors. The loss development factors are based primarily on historical data. Our self insurance reserves could be affected if future claim developments differ from the historical trends. We believe changes in health care costs, trends in health care claims of our employee base, accident frequency and severity and other factors could materially affect the estimate for these liabilities. We continually monitor changes in employee demographics, incident and claim type and evaluates our insurance accruals and adjusts our accruals based on our evaluation of these qualitative data points. We are liable for the development of claims for our disposed retail propane operations, provided they were reported prior to August 1, 2012. At December 31, 2013, our self-insurance reserves were $15.8 million. We estimate that $10.6 million of this balance will be paid subsequent to December 31, 2014. As such, $10.6 million has been classified in other long-term liabilities on our consolidated balance sheets. There were no self-insurance reserves at December 31, 2012. | ||||
Contingent Consideration - Antero | ||||
In connection with the Antero Acquisition, Legacy Crestwood agreed to pay Antero conditional consideration in the form of potential additional cash payments of up to $40 million, depending on the achievement of certain defined average annual production levels achieved during 2012, 2013 and 2014. During 2012 and 2013, Antero did not meet the annual production level to earn additional payments. Based on our estimates of Antero’s 2014 production, we believe their production levels will likely exceed the annual production threshold in the earn-out provision and accordingly, we have recognized a $31.4 million liability as of December 31, 2013 that represents the fair value of the potential payments that may be made under this earn-out provision. We estimated the liability based on the probability-weighted discounted cash flows using a 5.9% discount rate and our estimate of Antero’s production in 2014 (a Level 3 fair value measurement). | ||||
Commitments and Purchase Obligations | ||||
Operating Leases. TPGS leases the surface and subsurface rights necessary to operate the Tres Palacios storage facility under an operating lease that expires on December 31, 2037, which is subject to automatic renewal for two 20-year extension periods unless TPGS elects not to extend the term of the lease. The lease payments vary based on the FERC-certificated working gas capacity of the caverns which are in service as well as an incremental payment for physical volumes of gas injected and / or withdrawn from the caverns in service. | ||||
We also maintain operating leases in the ordinary course of our business activities. These leases include those for office buildings and other operating facilities and equipment. The terms of the agreements vary from 2014 until 2032. | ||||
Future minimum lease payments under noncancelable operating leases for the next five years ending December 31 and in total thereafter consist of the following (in millions): | ||||
Year Ending | ||||
December 31, | ||||
2014 | $ | 18.2 | ||
2015 | 17.4 | |||
2016 | 17.1 | |||
2017 | 15.8 | |||
2018 | 14.3 | |||
Thereafter | 247.5 | |||
Total minimum lease payments | $ | 330.3 | ||
Rent expense for operating leases for the years ended December 31, 2013, 2012 and 2011, totaled $16.4 million, $7.4 million and $7.7 million. | ||||
Capital Leases. We have a compressor, treating facility and certain auto leases which are accounted for as capital leases. The terms of the agreements vary from 2014 until 2018. We recorded amortization of expense of $3.6 million, $3.1 million and $1.9 million for the years ended December 31, 2013, 2012 and 2011. | ||||
Future minimum lease payments related to our capital leases at December 31, 2013 are as follows (in millions): | ||||
Year Ending | ||||
December 31, | ||||
2014 | $ | 2.6 | ||
2015 | 1.3 | |||
2016 | 0.6 | |||
2017 | 0.3 | |||
2018 | — | |||
Thereafter | — | |||
Total payments | 4.8 | |||
Imputed interest | (0.1 | ) | ||
Present value of future payments | $ | 4.7 | ||
Our capital lease liabilities were $4.7 million and $7.0 million at December 31, 2013 and 2012, and are included in accrued expenses and other liabilities and other long-term liabilities on our consolidated balance sheets. | ||||
Purchase Commitments. We periodically enter into agreements with suppliers to purchase fixed quantities of NGLs, distillates and natural gas at fixed prices. At December 31, 2013, the total of these firm purchase commitments was $234.1 million, substantially all of which will occur over the course of the next twelve months. We also enter into non-binding agreements with suppliers to purchase quantities of NGLs, distillates and natural gas at variable prices at future dates at the then prevailing market prices. | ||||
We have entered into certain purchase commitments in connection with the identified growth projects primarily related to the Watkins Glen NGL development project, the COLT Hub expansion project, and certain upgrades to the US Salt facility. The Watkins Glen NGL development project entails the conversion of certain caverns created by US Salt into 2.1 million barrels of NGL storage. The COLT Hub expansion project primarily includes an expansion of receiving, storage, and take-away capacity via interconnecting pipelines, storage tanks, and rail facilities. At December 31, 2013, the total of our storage and transportation and NGL and crude services operations' firm purchase commitments was approximately $49.6 million. The gathering and processing segment also has purchase commitments of approximately $47.7 million primarily related to the expansion of our compression facilities in the Marcellus Shale and other growth and maintenance contractual purchase obligations. The majority of the purchases associated with these commitments are expected to occur over the course of the next twelve months. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Related Party Transactions [Abstract] | ' | |||||||||||
Related Party Transactions | ' | |||||||||||
Related Party Transactions | ||||||||||||
Our general partner is owned by Crestwood Holdings. Affiliates of Crestwood Holdings and its owners, such as Sabine Oil and Gas LLC and Mountaineer Keystone, LLC, are considered our related parties. Concurrent with the Crestwood Merger described in Note 1, Quicksilver is no longer a related party, and as a result our transactions with Quicksilver are now considered non-affiliated transactions. | ||||||||||||
We enter into transactions with its affiliates within the ordinary course of business and the services are based on the same terms as non-affiliates, including gas gathering and processing services under long-term contracts, product purchases and various operating agreements. The following table shows revenues, cost of goods sold, operating and administrative expenses and reimbursements from our affiliates for the years December 31, 2013, 2012 and 2011 (in millions): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Gathering and processing revenues | $ | 74.9 | $ | 113.7 | $ | 131.2 | ||||||
Gathering and processing costs of goods sold | $ | 32.5 | $ | 15.2 | $ | — | ||||||
Operating and administrative expenses | $ | 25.3 | $ | 19.5 | $ | 17.9 | ||||||
The following table shows accounts receivable and accounts payable from our affiliates as of December 31, 2013 and 2012 (in millions): | ||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||
Accounts receivable | $ | — | $ | 23.8 | ||||||||
Accounts payable | $ | 3.6 | $ | 3.1 | ||||||||
Following the closing of the Crestwood Merger on October 7, 2013, Crestwood Holdings exchanged 7,100,000 common units of Crestwood Midstream for 14,300,000 of our common units pursuant to an option granted to Crestwood Holdings when it acquired our general partner. |
Segments
Segments | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Segments | ' | |||||||||||||||||||
Segments | ||||||||||||||||||||
In conjunction with the June 19, 2013 transactions described in Note 1, we modified our segments and now our financial statements reflect three operating and reporting segments: (i) gathering and processing operations; (ii) NGL and crude services operations; and (iii) storage and transportation operations. Our gathering and processing operations engage in the gathering, processing, treating, compression, transportation and sales of natural gas and the delivery of NGLs. Our NGL and crude services operations provide NGLs and crude oil gathering, storage, marketing, supply and logistics services to producers, refiners, marketers, and others that effectively provide flow assurances to our customers, as well as the production and sale of salt products. Our storage and transportation operations provide natural gas storage and transportation services to third parties. Our corporate operations include all general and administrative expenses that are not allocated to our reportable segments. We assess the performance of our operating segments based on EBITDA, which represents operating income plus depreciation, amortization and accretion expense. | ||||||||||||||||||||
The following table is a reconciliation of net income to EBITDA (in millions): | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Net income (loss) | $ | (50.6 | ) | $ | 24.4 | $ | 42.1 | |||||||||||||
Add: | ||||||||||||||||||||
Interest and debt expense, net | 77.9 | 35.8 | 27.6 | |||||||||||||||||
Provision for income taxes | 1 | 1.2 | 1.3 | |||||||||||||||||
Depreciation, amortization and accretion | 167.9 | 73.2 | 53.9 | |||||||||||||||||
EBITDA | $ | 196.2 | $ | 134.6 | $ | 124.9 | ||||||||||||||
The following table summarizes the reportable segment data for the years ended December 31, 2013, 2012 and 2011 (in millions). The net asset/liability from price risk management, as reported in the accompanying consolidated balance sheets, is primarily related to the NGL and crude services segment. | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
Gathering and Processing | NGL and Crude Services | Storage and Transportation | Corporate | Total | ||||||||||||||||
Operating revenues | $ | 291.2 | $ | 1,031.30 | $ | 104.2 | $ | — | $ | 1,426.70 | ||||||||||
Costs of product/services sold | 56.6 | 930 | 15.7 | — | 1,002.30 | |||||||||||||||
Operating and administrative expense | 54.9 | 37.6 | 12.1 | 93.5 | 198.1 | |||||||||||||||
Goodwill impairment | (4.1 | ) | — | — | — | (4.1 | ) | |||||||||||||
Other income | — | — | — | 0.2 | 0.2 | |||||||||||||||
Gain (loss) on long-lived assets | 5.4 | (0.1 | ) | — | — | 5.3 | ||||||||||||||
Loss on contingent consideration | (31.4 | ) | — | — | — | (31.4 | ) | |||||||||||||
Earnings (loss) from unconsolidated affiliates | 0.1 | (0.2 | ) | — | — | (0.1 | ) | |||||||||||||
EBITDA | $ | 149.7 | $ | 63.4 | $ | 76.4 | $ | (93.3 | ) | $ | 196.2 | |||||||||
Goodwill | $ | 356.8 | $ | 1,258.90 | $ | 936.5 | $ | — | $ | 2,552.20 | ||||||||||
Total assets | $ | 2,507.30 | $ | 3,465.80 | $ | 2,369.10 | $ | 181 | $ | 8,523.20 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 271.2 | $ | 56.8 | $ | 18 | $ | 1 | $ | 347 | ||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||
Gathering and Processing | NGL and Crude Services | Storage and Transportation | Corporate | Total | ||||||||||||||||
Operating revenues | $ | 239.5 | $ | — | $ | — | $ | — | $ | 239.5 | ||||||||||
Costs of product/services sold | 39 | — | — | — | 39 | |||||||||||||||
Operating and administrative expense | 43.1 | — | — | 29.6 | 72.7 | |||||||||||||||
Gain on contingent consideration | 6.8 | — | — | — | 6.8 | |||||||||||||||
EBITDA | $ | 164.2 | $ | — | $ | — | $ | (29.6 | ) | $ | 134.6 | |||||||||
Goodwill | $ | 352.2 | $ | — | $ | — | $ | — | $ | 352.2 | ||||||||||
Total assets | $ | 2,278.90 | $ | — | $ | — | $ | 22.7 | $ | 2,301.60 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 51.5 | $ | — | $ | — | $ | 1.1 | $ | 52.6 | ||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||
Gathering and Processing | NGL and Crude Services | Storage and Transportation | Corporate | Total | ||||||||||||||||
Operating revenues | $ | 205.8 | $ | — | $ | — | $ | — | $ | 205.8 | ||||||||||
Costs of product/services sold | 38.8 | — | — | — | 38.8 | |||||||||||||||
Operating and administrative expense | 36.3 | — | — | 24.1 | 60.4 | |||||||||||||||
Gain on long-lived assets | 1.1 | — | — | — | 1.1 | |||||||||||||||
Gain on contingent consideration | 17.2 | — | — | — | 17.2 | |||||||||||||||
EBITDA | $ | 149 | $ | — | $ | — | $ | (24.1 | ) | $ | 124.9 | |||||||||
Goodwill | $ | 348.1 | $ | — | $ | — | $ | — | $ | 348.1 | ||||||||||
Total assets | $ | 1,720.90 | $ | — | $ | — | $ | 18.3 | $ | 1,739.20 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 47.8 | $ | — | $ | — | $ | 0.6 | $ | 48.4 | ||||||||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||
Condensed Consolidating Financial Information | ' | |||||||||||||||||||
Condensed Consolidating Financial Information | ||||||||||||||||||||
We are a holding company and own no operating assets and have no significant operations independent of our subsidiaries. Obligations under our outstanding senior notes and credit agreement are jointly and severally guaranteed by our wholly owned domestic subsidiaries. Legacy Crestwood GP and Crestwood Midstream and its wholly owned subsidiaries do not guarantee our senior notes or credit facility. CEQP Finance Corp., the co-issuer, is our 100% owned subsidiary and has no material assets, operations, revenues or cash flows other than those related to its service as co-issuer of our senior notes. | ||||||||||||||||||||
As discussed in Note 1, the accounting for the reverse acquisition of Legacy Inergy results in Legacy Inergy's historical operations being acquired on June 19, 2013. Our senior notes are thus not included in the financial statements prior to June 19, 2013. Since Legacy Crestwood GP (the accounting predecessor) does not guarantee any debt, the condensed consolidated financial statements do not include 2012 or 2011 financial information. | ||||||||||||||||||||
The tables below present condensed consolidating financial statements for us (parent) on a stand-alone, unconsolidated basis, and our combined guarantor and combined non-guarantor subsidiaries as of December 31, 2013 and for the year ended December 31, 2013. The financial information may not necessarily be indicative of the results of operations, cash flows or financial position had the subsidiaries operated as independent entities. | ||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Parent | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 0.1 | $ | 2.4 | $ | 2.7 | $ | — | $ | 5.2 | ||||||||||
Accounts receivable | — | 207.5 | 205.1 | — | 412.6 | |||||||||||||||
Inventories | — | 66.6 | 7 | — | 73.6 | |||||||||||||||
Other current assets | — | 25.8 | 10.2 | (5.4 | ) | 30.6 | ||||||||||||||
Total current assets | 0.1 | 302.3 | 225 | (5.4 | ) | 522 | ||||||||||||||
Property, plant and equipment, net | — | 400.9 | 3,504.40 | — | 3,905.30 | |||||||||||||||
Goodwill and intangible assets, net | — | 742.4 | 3,170.20 | — | 3,912.60 | |||||||||||||||
Investment in subsidiary | 5,927.10 | — | — | (5,927.1 | ) | — | ||||||||||||||
Other assets | — | 10.2 | 173.1 | — | 183.3 | |||||||||||||||
Total assets | $ | 5,927.20 | $ | 1,455.80 | $ | 7,072.70 | $ | (5,932.5 | ) | $ | 8,523.20 | |||||||||
Liabilities and partners' capital | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | — | $ | 218.3 | $ | 160.7 | $ | — | $ | 379 | ||||||||||
Other current liabilities | 4.2 | 61.6 | 156.7 | (5.4 | ) | 217.1 | ||||||||||||||
Total current liabilities | 4.2 | 279.9 | 317.4 | (5.4 | ) | 596.1 | ||||||||||||||
Long-term liabilities: | ||||||||||||||||||||
Long-term debt, less current portion | 393 | — | 1,867.90 | — | 2,260.90 | |||||||||||||||
Other long-term liabilities | 21.4 | 109.9 | 26.3 | — | 157.6 | |||||||||||||||
Total long-term liabilities | 414.4 | 109.9 | 1,894.20 | — | 2,418.50 | |||||||||||||||
Partners' capital | 831.6 | 1,066.00 | 184.1 | (1,250.1 | ) | 831.6 | ||||||||||||||
Interest of non-controlling partners in subsidiaries | 4,677.00 | — | 4,677.00 | (4,677.0 | ) | 4,677.00 | ||||||||||||||
Total partners' capital | 5,508.60 | 1,066.00 | 4,861.10 | (5,927.1 | ) | 5,508.60 | ||||||||||||||
Total liabilities and partners' capital | $ | 5,927.20 | $ | 1,455.80 | $ | 7,072.70 | $ | (5,932.5 | ) | $ | 8,523.20 | |||||||||
Condensed Consolidating Statements of Operations | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Parent | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | ||||||||||||||||||||
Revenues: | ||||||||||||||||||||
Gathering and processing | $ | — | $ | — | $ | 216.3 | $ | — | $ | 216.3 | ||||||||||
NGL and crude services | — | 761.2 | 270.1 | — | 1,031.30 | |||||||||||||||
Storage and transportation | — | 14.1 | 90.1 | — | 104.2 | |||||||||||||||
Related party | — | — | 82.1 | (7.2 | ) | 74.9 | ||||||||||||||
— | 775.3 | 658.6 | (7.2 | ) | 1,426.70 | |||||||||||||||
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ||||||||||||||||||||
Gathering and processing | — | — | 24.1 | — | 24.1 | |||||||||||||||
NGL and crude services | — | 699.6 | 230.4 | — | 930 | |||||||||||||||
Storage and transportation | — | 7 | 8.7 | — | 15.7 | |||||||||||||||
Related party | — | 7.2 | 32.5 | (7.2 | ) | 32.5 | ||||||||||||||
— | 713.8 | 295.7 | (7.2 | ) | 1,002.30 | |||||||||||||||
Expenses: | ||||||||||||||||||||
Operating and administrative | — | 41.3 | 156.8 | — | 198.1 | |||||||||||||||
Depreciation, amortization and accretion | — | 26 | 141.9 | — | 167.9 | |||||||||||||||
— | 67.3 | 298.7 | — | 366 | ||||||||||||||||
Other operating income (expense): | ||||||||||||||||||||
Loss on contingent consideration | — | — | (31.4 | ) | — | (31.4 | ) | |||||||||||||
Other | — | (0.1 | ) | 1.3 | — | 1.2 | ||||||||||||||
Operating income (loss) | — | (5.9 | ) | 34.1 | — | 28.2 | ||||||||||||||
Interest and debt expense, net | (6.5 | ) | — | (71.4 | ) | — | (77.9 | ) | ||||||||||||
Other | — | 0.2 | (0.1 | ) | — | 0.1 | ||||||||||||||
Equity in net income of subsidiary | (43.9 | ) | — | — | 43.9 | — | ||||||||||||||
Income (loss) before income taxes | (50.4 | ) | (5.7 | ) | (37.4 | ) | 43.9 | (49.6 | ) | |||||||||||
Provision for income taxes | 0.2 | 0.1 | 0.7 | — | 1 | |||||||||||||||
Net income (loss) | (50.6 | ) | (5.8 | ) | (38.1 | ) | 43.9 | (50.6 | ) | |||||||||||
Net loss attributable to non-controlling partners in subsidiaries | — | — | 57.3 | — | 57.3 | |||||||||||||||
Net income (loss) attributable to partners | $ | (50.6 | ) | $ | (5.8 | ) | $ | 19.2 | $ | 43.9 | $ | 6.7 | ||||||||
Condensed Consolidating Statements of Comprehensive Income | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Parent | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | ||||||||||||||||||||
Net income (loss) | $ | (50.6 | ) | $ | (5.8 | ) | $ | (38.1 | ) | $ | 43.9 | $ | (50.6 | ) | ||||||
Change in Suburban Propane Partners LP units | (0.1 | ) | — | — | — | (0.1 | ) | |||||||||||||
Comprehensive income (loss) | $ | (50.7 | ) | $ | (5.8 | ) | $ | (38.1 | ) | $ | 43.9 | $ | (50.7 | ) | ||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Parent | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | ||||||||||||||||||||
Cash flows from operating activities: | $ | — | $ | 1.8 | $ | 186.5 | $ | — | $ | 188.3 | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Acquisitions, net of cash acquired | — | 5.9 | (561.5 | ) | — | (555.6 | ) | |||||||||||||
Purchases of property, plant and equipment | — | (12.4 | ) | (334.6 | ) | — | (347.0 | ) | ||||||||||||
Investment in unconsolidated affiliates, net | — | — | (151.5 | ) | — | (151.5 | ) | |||||||||||||
Distributions received and other | 76 | 17 | 11.1 | (92.9 | ) | 11.2 | ||||||||||||||
Net cash provided by (used in) investing activities | 76 | 10.5 | (1,036.5 | ) | (92.9 | ) | (1,042.9 | ) | ||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 394.1 | 2,072.80 | — | 2,466.90 | |||||||||||||||
Principal payments on long-term debt | — | (333.3 | ) | (1,634.3 | ) | — | (1,967.6 | ) | ||||||||||||
Distributions paid | (76.0 | ) | (59.1 | ) | (155.2 | ) | 92.9 | (197.4 | ) | |||||||||||
Distributions paid to non-controlling partners | — | — | (204.5 | ) | — | (204.5 | ) | |||||||||||||
Net proceeds from the issuance of common units | — | — | 714 | — | 714 | |||||||||||||||
Proceeds from issuance of preferred equity | — | — | 96.1 | — | 96.1 | |||||||||||||||
Other | 0.1 | (11.6 | ) | (36.3 | ) | — | (47.8 | ) | ||||||||||||
Net cash provided by (used in) financing activities | (75.9 | ) | (9.9 | ) | 852.6 | 92.9 | 859.7 | |||||||||||||
Net increase in cash | 0.1 | 2.4 | 2.6 | — | 5.1 | |||||||||||||||
Cash at beginning of period | — | — | 0.1 | — | 0.1 | |||||||||||||||
Cash at end of period | $ | 0.1 | $ | 2.4 | $ | 2.7 | $ | — | $ | 5.2 | ||||||||||
Quarterly_Financial_Data
Quarterly Financial Data | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Data | ' | ||||||||||||||||
Quarterly Financial Data (Unaudited) | |||||||||||||||||
Summarized unaudited quarterly financial data is presented below (in millions, except per unit information): | |||||||||||||||||
Quarter Ended | |||||||||||||||||
March 31 | June 30 | September 30 | 31-Dec | ||||||||||||||
2013 | |||||||||||||||||
Revenues | $ | 72.4 | $ | 118.9 | $ | 427.2 | $ | 808.2 | |||||||||
Operating income (loss) | 15.7 | 7.8 | 15.8 | (11.1 | ) | (b) | |||||||||||
Earnings (loss) from unconsolidated affiliates | — | — | (0.4 | ) | 0.3 | ||||||||||||
Net income (loss) | 3.9 | (4.5 | ) | (7.9 | ) | (42.1 | ) | ||||||||||
Net income (loss) attributable to partners | 5.1 | 1.6 | (8.3 | ) | 8.3 | ||||||||||||
Net income (loss) per limited partner unit:(a) | |||||||||||||||||
Basic(c) | $ | 0.13 | $ | 0.03 | $ | (0.05 | ) | $ | 0.04 | ||||||||
Diluted(c) | $ | 0.13 | $ | 0.03 | $ | (0.05 | ) | $ | 0.04 | ||||||||
2012 | |||||||||||||||||
Revenues | $ | 53.8 | $ | 55.2 | $ | 63 | $ | 67.5 | |||||||||
Operating income | 12.4 | 17.5 | 18.3 | 13.2 | |||||||||||||
Net income | 4.5 | 8.3 | 9.1 | 2.5 | |||||||||||||
Net income attributable to partners | 3.3 | 3.4 | 6 | 2.2 | |||||||||||||
Net income per limited partner unit:(a) | |||||||||||||||||
Basic | $ | 0.08 | $ | 0.09 | $ | 0.15 | $ | 0.06 | |||||||||
Diluted | $ | 0.08 | $ | 0.09 | $ | 0.15 | $ | 0.06 | |||||||||
(a) | Basic and diluted net income for the quarter ended March 31, 2013 and each of the quarters ended December 31, 2012, were calculated based on the presumption that the common and subordinated units issued to acquire Legacy Crestwood GP (the accounting predecessor) were outstanding for the entire period prior to the June 19, 2013 acquisition. | ||||||||||||||||
(b) | Includes a $31.4 million loss on contingent consideration which reflects the fair value of an earn-out premium associated with the original acquisition of our Antero assets. See Notes 4 and 15 for a further discussion of this non-cash charge. |
Schedule_I_Crestwood_Equity_Pa
Schedule I - Crestwood Equity Partners LP (Formerly Inergy, L.P.) - Parent Only (Notes) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||
Schedule I - Crestwood Equity Partners LP (Formerly Inergy, L.P.) - Parent Only | ' | |||
Schedule I | ||||
Crestwood Equity Partners LP (Formerly Inergy, L.P.) | ||||
Parent Only | ||||
Condensed Balance Sheet | ||||
(in millions, except unit information) | ||||
December 31, | ||||
2013 | ||||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 0.1 | ||
Total current assets | 0.1 | |||
Investment in subsidiaries | 5,927.10 | |||
Total assets | $ | 5,927.20 | ||
Liabilities and partners’ capital | ||||
Current liabilities: | ||||
Accrued expenses | $ | 2 | ||
Current portion of long-term debt | 2.2 | |||
Total current liabilities | 4.2 | |||
Long-term debt, less current portion | 393 | |||
Other long-term liabilities | 21.4 | |||
Total partners’ capital | 5,508.60 | |||
Total liabilities and partners’ capital | $ | 5,927.20 | ||
See accompanying notes to condensed financial statements. | ||||
Schedule I | ||||
Crestwood Equity Partners LP (Formerly Inergy, L.P.) | ||||
Parent Only | ||||
Condensed Statement of Operations | ||||
(in millions) | ||||
Year Ended December 31, | ||||
2013 | ||||
Operating income | $ | — | ||
Interest expense, net | (6.5 | ) | ||
Equity in net income of subsidiaries | (43.9 | ) | ||
Loss before income taxes | (50.4 | ) | ||
Provision for income taxes | 0.2 | |||
Net loss | $ | (50.6 | ) | |
See accompanying notes to condensed financial statements. | ||||
Schedule I | ||||
Crestwood Equity Partners LP (Formerly Inergy, L.P.) | ||||
Parent Only | ||||
Condensed Statement of Comprehensive Income | ||||
(in millions) | ||||
Year Ended December 31, | ||||
2013 | ||||
Net loss | $ | (50.6 | ) | |
Change in unrealized fair value on cash flow hedges | (0.1 | ) | ||
Comprehensive loss | $ | (50.7 | ) | |
See accompanying notes to condensed financial statements. | ||||
Schedule I | ||||
Crestwood Equity Partners LP (Formerly Inergy, L.P.) | ||||
Parent Only | ||||
Condensed Statement of Cash Flows | ||||
(in millions) | ||||
Year Ended December 31, | ||||
2013 | ||||
Cash flows from operating activities | $ | — | ||
Cash flows from investing activities | 76 | |||
Cash flows from financing activities: | ||||
Proceeds from the issuance of long-term debt | — | |||
Principal payments on long-term debt | — | |||
Distributions paid | (76.0 | ) | ||
Distributions received | — | |||
Other | 0.1 | |||
Net cash provided by (used in) financing activities | (75.9 | ) | ||
Net increase (decrease) in cash | 0.1 | |||
Cash at beginning of period | — | |||
Cash at end of period | $ | 0.1 | ||
See accompanying notes to condensed financial statements. | ||||
Schedule I | ||||
Crestwood Equity Partners LP (Formerly Inergy, L.P.) | ||||
Parent Only | ||||
Notes to Condensed Financial Statements | ||||
Note 1. Basis of Presentation | ||||
In the parent-only financial statements, our investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. Our share of net income of our unconsolidated subsidiaries is included in consolidated income using the equity method. The parent-only financial statements should be read in conjunction with our consolidated financial statements. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts (Notes) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | |||||||||||||||||||
Schedule II | ||||||||||||||||||||
Crestwood Equity Partners LP (Formerly Inergy, L.P.) | ||||||||||||||||||||
Valuation and Qualifying Accounts | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Year Ended December 31, | Balance at | Charged | Other | Deductions | Balance | |||||||||||||||
beginning | to costs and | Additions | (write-offs) | at end | ||||||||||||||||
of period | expenses | of period | ||||||||||||||||||
Allowance for doubtful accounts | ||||||||||||||||||||
2013 | $ | — | $ | (1.1 | ) | $ | 1.2 | $ | — | $ | 0.1 | |||||||||
2012 | — | — | — | — | — | |||||||||||||||
2011 | — | — | — | — | — | |||||||||||||||
Basis_of_Presentation_and_Summ1
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Text Block [Abstract] | ' | |
Financial Instruments and Price Risk Management | ' | |
Financial Instruments and Price Risk Management | ||
We utilize certain derivative financial instruments to (i) manage our exposure to commodity price risk, specifically, the related change in the fair value of inventory, as well as the variability of cash flows related to forecasted transactions; (ii) ensure adequate physical supply of commodity will be available; and (iii) manage our exposure to the interest rate risk associated with fixed and variable rate borrowings. We record all derivative instruments on the balance sheet as either assets or liabilities measured at fair value. Changes in the fair value of these derivative financial instruments are recorded through current earnings. | ||
We did not have any derivatives identified as fair value hedges for accounting purposes or any derivatives designated as cash flow hedges for the years ended December 31, 2013, 2012 or 2011. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
We gather, treat, compress, store, transport and sell various commodities (including crude oil, natural gas, NGLs and water) pursuant to fixed-fee and percent-of-proceeds contracts. We recognize revenues for these services and products when all of the following criteria are met: | ||
• services have been rendered or products delivered or sold; | ||
• persuasive evidence of an exchange arrangement exists; | ||
• the price for services is fixed or determinable; and | ||
• collectability is reasonably assured. | ||
For fixed-fee contracts, we recognize revenues based on the volume of crude oil, natural gas or produced water gathered, processed and treated or compressed, as applicable. For percent-of-proceeds contracts, we recognize revenues based on the value of products sold to third parties. | ||
Sales of crude oil, NGLs and salt are recognized at the time product is shipped or delivered to the customer depending on the sales terms. NGL processing and fractionation fees are recognized upon delivery of the product. Revenues from the COLT Hub are recognized when the contractual services are provided, such as loading of customer rail cars. Revenues from storage and transportation contracts are recognized during the period in which the storage and transportation services are provided, such as providing storage and transportation services during the period a firm service contract is in place. We record deferred revenue when we receive amounts from our customers but have not met the criteria listed above. At December 31, 2013 and 2012, we had deferred revenue of approximately $2.1 million and $2.6 million, which is reflected in accrued expenses and other liabilities on our consolidated balance sheets. | ||
Credit Risk and Concentrations | ' | |
Credit Risk and Concentrations | ||
Inherent in our contractual portfolio are certain credit risks. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. We take an active role in managing credit risk and have established control procedures, which are reviewed on an ongoing basis. We attempt to minimize credit risk exposure through credit policies and periodic monitoring procedures as well as through customer deposits, letters of credit and entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate. | ||
Two suppliers, Williams Ohio Valley and PBF Holding Corp., accounted for 14% and 11% of natural gas liquid purchases during 2013. | ||
No customer accounted for 10% or more of our total consolidated revenues for the year ended December 31, 2013. For the years ended December 31, 2012 and 2011, Quicksilver Resources Inc. ("Quicksilver") accounted for approximately 47% and 64% of our total consolidated revenues. For the year ended December 31, 2012, Antero Resources Appalachian Corporation ("Antero") accounted for approximately 11% of our total consolidated revenues. Revenues from Quicksilver and Antero are reflected in our gathering and processing segment. | ||
No customer accounted for 10% or more of our consolidated accounts receivable at December 31, 2013. At December 31, 2012, Quicksilver and Antero accounted for approximately 48% and 14% of our consolidated accounts receivable. | ||
Use of Estimates | ' | |
Use of Estimates | ||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from those estimates. | ||
Inventories | ' | |
Inventory | ||
Inventory for our NGL and crude services operations and our storage and transportation operations are stated at the lower of cost or market and are computed predominantly using the average cost method. Legacy Crestwood GP had no inventory at December 31, 2012. | ||
Shipping and Handling Costs | ' | |
Shipping and Handling Costs | ||
Shipping and handling costs are recorded as part of cost of product/services sold at the time product is shipped or delivered to the customer. | ||
Property, Plant and Equipment | ' | |
Property, Plant and Equipment | ||
Property, plant and equipment is recorded at is original cost of construction or, upon acquisition, at the fair value of the assets acquired. For assets we construct, we capitalize direct costs, such as labor and materials, and indirect costs, such as overhead and interest. We capitalize major units of property replacements or improvement and expense minor items. Depreciation is computed by the straight-line method over the estimated useful lives of the assets, as follows: | ||
Years | ||
Gathering systems and pipelines | 20 | |
Facilities and equipment | 20 – 25 | |
Buildings, rights-of-way and easements | 20 – 40 | |
Office furniture and fixtures | 5 – 10 | |
Vehicles | 5 | |
We deplete salt deposits included in our property, plant and equipment utilizing the unit of production method. | ||
When we retire property, plant and equipment, we charge accumulated depreciation for the original costs of the assets in addition to the cost to remove, sell or dispose of the assets, less their salvage value. | ||
We evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such events or changes in circumstances are present, a loss is recognized if the carrying value of the asset is in excess of the sum of the undiscounted cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. We have not identified any indicators that suggest the carrying amount of an asset may not be recoverable as of December 31, 2013. | ||
Identifiable Intangible Assets | ' | |
Identifiable Intangible Assets | ||
We have recorded certain identifiable intangible assets, including customer accounts, covenants not to compete, trademarks, certain revenue contracts and deferred financing costs. Customer accounts, covenants not to compete, trademarks and certain of our revenue contracts have arisen from acquisitions. We amortize certain of our revenue contracts based on the projected cash flows associated with these contracts. Deferred financing costs represent financing costs incurred in obtaining financing and are being amortized over the term of the related debt using the effective interest method. We recognize acquired intangible assets separately if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the intangible asset can be sold, transferred, licensed, rented or exchanged, regardless of the acquirer's intent to do so. | ||
Certain intangible assets are amortized on a straight-line basis over their estimated economic lives, as follows: | ||
Weighted-Average | ||
Life | ||
(years) | ||
Customer accounts | 12 | |
Covenants not to compete | 4 | |
Trademarks | 6 | |
Deferred financing costs | 6 | |
Goodwill | ' | |
Goodwill | ||
Our goodwill represents consideration paid in excess of the fair value of the identifiable assets acquired in a business combination. We evaluate goodwill for impairment, at a minimum, annually on December 31, or whenever events or changes indicate that it is more likely than not that the fair value of a reporting unit could be less than its carrying amount. This evaluation requires us to compare the fair value of each of our reporting units to its carrying value (including goodwill). If the fair value exceeds the book value of a reporting unit, goodwill of the reporting unit is not considered impaired. | ||
We estimate the fair value of our reporting units based on a number of factors, including the potential value we would receive if we sold the reporting unit, discount rates and projected cash flows. Estimating projected cash flows requires us to make certain assumptions as it relates to future operating performance. When considering operating performance, various factors are considered such as current and changing economic conditions and the commodity price environment, among others. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. If the growth assumptions embodied in the current year impairment testing prove inaccurate, we could incur an impairment charge. | ||
Investment in Unconsolidated Affiliate | ' | |
Investment in Unconsolidated Affiliates | ||
The FASB's accounting standards related to equity method investments and joint ventures requires entities to periodically review their equity method investments to determine whether current events or circumstances indicate that the carrying value of the equity method investment may be impaired. We evaluate our equity method investments for impairment when there are indicators of impairment. If indicators suggest impairment, we will perform an impairment test to assess whether an adjustment is necessary. The impairment test considers whether the fair value of our equity method investments declined and if any such decline is other than temporary. If a decline in fair value is determined to be other than temporary, the investment's carrying value is written down to fair value. No impairment adjustments were recorded in the year ended December 31, 2013. | ||
Income Taxes | ' | |
Income Taxes | ||
We are a master limited partnership. Partnerships are generally not subject to federal income tax, although publicly-traded partnerships are treated as corporations for federal income tax purposes and therefore are subject to federal income tax, unless the partnership generates at least 90% of its gross income from qualifying sources. If the qualifying income requirement is satisfied, the publicly-traded partnership will be treated as a partnership for federal income tax purposes. We satisfy the qualifying income requirement and are treated as a partnership for federal and state income tax purposes. Our consolidated earnings are included in the federal and state income tax returns of our partners. However, legislation in certain states allows for taxation of partnerships, and as such, certain state taxes have been included in our accompanying financial statements as income taxes due to the nature of the tax in those particular states as discussed below. In addition, federal and state income taxes are provided on the earnings of the subsidiaries incorporated as taxable entities. We are required to recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax basis of assets and liabilities using expected rates in effect for the year in which the differences are expected to reverse. | ||
We are responsible for the Texas Margin tax computed on the Texas franchise tax return. The margin tax qualifies as an income tax under GAAP, which requires us to recognize the impact of this tax on the temporary differences between the financial statement assets and liabilities and their tax basis attributable to such tax. For the years ended December 31, 2013, 2012 and 2011, there were no temporary differences recognized in our consolidated statements of operations. | ||
Net earnings for financial statement purposes may differ significantly from taxable income reportable to unitholders as a result of differences between the tax basis and the financial reporting basis of assets and liabilities and the taxable income allocation requirements under the partnership agreement. | ||
Sales Tax | ' | |
Sales Tax | ||
We account for the collection and remittance of sales tax on a net tax basis. As a result, these amounts are not reflected in the consolidated statements of operations. | ||
Cash and Cash Equivalents | ' | |
Cash and Cash Equivalents | ||
We define cash equivalents as all highly liquid investments with maturities of three months or less when purchased. | ||
Asset Retirement Obligations | ' | |
Asset Retirement Obligations | ||
An asset retirement obligation ("ARO") is an estimated liability for the cost to retire a tangible asset. We record a liability for legal or contractual obligations to retire our long-lived assets associated with right-of-way contracts we hold and our facilities whether owned or leased. We record a liability in the period the obligation is incurred and estimable. An ARO is initially recorded at its estimated fair value with a corresponding increase to property, plant and equipment. This increase in property, plant and equipment is then depreciated over the useful life of the asset to which that liability relates. An ongoing expense is recognized for changes in the fair value of the liability as a result of the passage of time, which we record as depreciation, amortization and accretion expense on our consolidated statements of operations. The fair value of certain AROs could not be determined as the settlement dates (or range of dates) associated with these assets were not estimable. | ||
Environmental Costs and Other Contingencies | ' | |
Environmental Costs and Other Contingencies | ||
We recognize liabilities for environmental and other contingencies when it has an exposure that indicates it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. Where the most likely outcome of a contingency can be reasonably estimated, we accrue a liability for that amount. Where the most likely outcome cannot be estimated, a range of potential losses is established and if no one amount in that range is more likely than any other, the low end of range is accrued. | ||
We record liabilities for environmental contingencies at their undiscounted amounts on our consolidated balance sheets as accrued expenses and other liabilities when environmental assessments indicate that remediation efforts are probable and costs can be reasonably estimated. Estimates of our liabilities are based on currently available facts and presently enacted laws and regulations, taking into consideration the likely effects of other societal and economic factors. These estimates are subject to revision in future periods based on actual costs or new circumstances. We capitalize costs that benefit future periods and recognize a current period charge in operating and administrative expenses when clean-up efforts do not benefit future periods. | ||
We evaluate potential recoveries of amounts from third parties, including insurance coverage, separately from our liability. Recovery is evaluated based on the solvency of the third party, among other factors. When recovery is assured, we record and report an asset separately from the associated liability on our consolidated balance sheet. | ||
Accounting For Unit-Based Compensation | ' | |
Unit-Based Compensation | ||
Unit-based compensation awards are valued at the closing market price of our common units on the date of grant, which reflects the fair value of such awards. For those awards that are settled in cash, the associated liability is remeasured at every balance sheet date through settlement, such that the vested portion of the liability is adjusted to reflect its revised fair value through compensation expense. We generally recognize the expense associated with the award over the vesting period. Prior to the Crestwood Merger, Legacy Crestwood issued phantom units under its Fourth Amended and Restated 2007 Equity Plan ("2007 Equity Plan"). At the time of issuance of these phantom units, management of the general partner of Legacy Crestwood determined whether they were settled in cash or settled in common units. The 2007 Equity Plan was terminated in conjunction with the Crestwood Merger. Unit-based compensation awards at Crestwood Midstream are fully reflected in these financial statements and are accounted for in the manner described above. See Note 12 for a further discussion of our equity plans including the Legacy Inergy and Inergy Midstream plans. | ||
Segment Information | ' | |
Segment Information | ||
There are certain accounting requirements that establish standards for reporting information about operating segments, as well as related disclosures about products and services, geographic areas and major customers. Further, they define operating segments as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assess performance. In determining our operating segments, we examine the way we organize our business internally for making operating decisions and assessing business performance. See Note 17 for disclosures related to our three operating and reporting segments. |
Basis_of_Presentation_and_Summ2
Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Estimated Useful Lives Of Property, Plant And Equipment | ' | |||||||
Depreciation is computed by the straight-line method over the estimated useful lives of the assets, as follows: | ||||||||
Years | ||||||||
Gathering systems and pipelines | 20 | |||||||
Facilities and equipment | 20 – 25 | |||||||
Buildings, rights-of-way and easements | 20 – 40 | |||||||
Office furniture and fixtures | 5 – 10 | |||||||
Vehicles | 5 | |||||||
Intangible Assets, Useful life | ' | |||||||
Certain intangible assets are amortized on a straight-line basis over their estimated economic lives, as follows: | ||||||||
Weighted-Average | ||||||||
Life | ||||||||
(years) | ||||||||
Customer accounts | 12 | |||||||
Covenants not to compete | 4 | |||||||
Trademarks | 6 | |||||||
Deferred financing costs | 6 | |||||||
Intangible assets consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Customer accounts | $ | 576.9 | $ | — | ||||
(accumulated amortization—customer accounts) | (18.7 | ) | — | |||||
Covenants not to compete | 7 | — | ||||||
(accumulated amortization—covenants not to compete) | (1.0 | ) | — | |||||
Gas gathering, compression and processing contracts | 750.2 | 813 | ||||||
(accumulated amortization - gas gathering, compression and processing contracts) | (67.3 | ) | (40.2 | ) | ||||
Acquired storage contracts | 43.5 | — | ||||||
(accumulated amortization - acquired storage contracts) | (8.6 | ) | — | |||||
Trademarks | 33.5 | — | ||||||
(accumulated amortization - trademarks) | (2.3 | ) | — | |||||
Deferred financing and other costs | 55.3 | 32.2 | ||||||
(accumulated amortization—deferred financing costs) | (8.1 | ) | (9.7 | ) | ||||
Total intangible assets, net | $ | 1,360.40 | $ | 795.3 | ||||
Certain_Balance_Sheet_Informat1
Certain Balance Sheet Information (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Inventories | ' | |||||||
Inventory consisted of the following at December 31, 2013 (in millions). Legacy Crestwood GP did not have inventory at December 31, 2012. | ||||||||
December 31, | ||||||||
2013 | ||||||||
NGLs | $ | 66.9 | ||||||
Parts, supplies and other | 6.7 | |||||||
Total inventory | $ | 73.6 | ||||||
Property, Plant And Equipment | ' | |||||||
Property, plant and equipment consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Gathering systems and pipelines | $ | 1,473.40 | $ | 582.3 | ||||
Facilities and equipment | 1,186.50 | 485.8 | ||||||
Buildings, rights-of-way and easements | 86.3 | 66.4 | ||||||
Land and storage rights | 728.4 | 4.1 | ||||||
Vehicles | 35.8 | 0.3 | ||||||
Construction in process | 365.8 | 56 | ||||||
Base gas | 102 | — | ||||||
Salt deposits | 120.5 | — | ||||||
Office furniture and fixtures | 10 | 2.5 | ||||||
4,108.70 | 1,197.40 | |||||||
Less: accumulated depreciation and depletion | 203.4 | 95 | ||||||
Total property, plant and equipment, net | $ | 3,905.30 | $ | 1,102.40 | ||||
Intangible Assets | ' | |||||||
Certain intangible assets are amortized on a straight-line basis over their estimated economic lives, as follows: | ||||||||
Weighted-Average | ||||||||
Life | ||||||||
(years) | ||||||||
Customer accounts | 12 | |||||||
Covenants not to compete | 4 | |||||||
Trademarks | 6 | |||||||
Deferred financing costs | 6 | |||||||
Intangible assets consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Customer accounts | $ | 576.9 | $ | — | ||||
(accumulated amortization—customer accounts) | (18.7 | ) | — | |||||
Covenants not to compete | 7 | — | ||||||
(accumulated amortization—covenants not to compete) | (1.0 | ) | — | |||||
Gas gathering, compression and processing contracts | 750.2 | 813 | ||||||
(accumulated amortization - gas gathering, compression and processing contracts) | (67.3 | ) | (40.2 | ) | ||||
Acquired storage contracts | 43.5 | — | ||||||
(accumulated amortization - acquired storage contracts) | (8.6 | ) | — | |||||
Trademarks | 33.5 | — | ||||||
(accumulated amortization - trademarks) | (2.3 | ) | — | |||||
Deferred financing and other costs | 55.3 | 32.2 | ||||||
(accumulated amortization—deferred financing costs) | (8.1 | ) | (9.7 | ) | ||||
Total intangible assets, net | $ | 1,360.40 | $ | 795.3 | ||||
Schedule of Intangible Assets, Future Amortization Expense | ' | |||||||
Estimated amortization on our intangibles for the next five years is as follows (in millions): | ||||||||
Year Ending | ||||||||
December 31, | ||||||||
2014 | $ | 107.8 | ||||||
2015 | 108 | |||||||
2016 | 96.6 | |||||||
2017 | 86.3 | |||||||
2018 | 75.8 | |||||||
Schedule of Accrued Liabilities | ' | |||||||
Accrued expenses and other liabilities consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Accrued expenses | $ | 40.3 | $ | 9.6 | ||||
Accrued property taxes | 9.4 | 5.6 | ||||||
Accrued product purchases payable | 1.6 | 2.5 | ||||||
Tax payable | 14.8 | 2.2 | ||||||
Interest payable | 16.7 | 7.5 | ||||||
Accrued additions to property, plant and equipment | 58.2 | 9.2 | ||||||
Commitments and contingent liabilities (Note 15) | 31.4 | — | ||||||
Capital leases | 2.6 | 3.9 | ||||||
Deferred revenue | 2.1 | 2.6 | ||||||
Total accrued expenses and other liabilities | $ | 177.1 | $ | 43.1 | ||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||||||||||
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the merger date (in millions): | ||||||||||||
Current assets | $ | 224.5 | ||||||||||
Property, plant and equipment | 2,088.20 | |||||||||||
Intangible assets | 337.5 | |||||||||||
Other assets | 12.7 | |||||||||||
Total identifiable assets acquired | 2,662.90 | |||||||||||
Current liabilities | 207.5 | |||||||||||
Long-term debt | 1,079.30 | |||||||||||
Other long-term liabilities | 146.6 | |||||||||||
Total liabilities assumed | 1,433.40 | |||||||||||
Net identifiable assets acquired | 1,229.50 | |||||||||||
Goodwill | 2,149.90 | |||||||||||
Net assets acquired | $ | 3,379.40 | ||||||||||
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the acquisition date (in millions): | ||||||||||||
Current assets | $ | 192.3 | ||||||||||
Property, plant and equipment | 399 | |||||||||||
Intangible assets | 323.4 | |||||||||||
Other assets | 19.4 | |||||||||||
Total identifiable assets acquired | 934.1 | |||||||||||
Current liabilities | 213.1 | |||||||||||
Other long-term liabilities | 3.7 | |||||||||||
Total liabilities assumed | 216.8 | |||||||||||
Net identifiable assets acquired | 717.3 | |||||||||||
Goodwill | 45.5 | |||||||||||
Net assets acquired | $ | 762.8 | ||||||||||
The final purchase price allocation is as follows (in millions): | ||||||||||||
Cash | $ | 87.9 | ||||||||||
Total purchase price | $ | 87.9 | ||||||||||
Purchase price allocation: | ||||||||||||
Property, plant and equipment | $ | 88.6 | ||||||||||
Total assets | 88.6 | |||||||||||
Asset retirement obligation | 0.5 | |||||||||||
Environmental liability | 0.2 | |||||||||||
Total liabilities | 0.7 | |||||||||||
Total | $ | 87.9 | ||||||||||
The final purchase price allocation is as follows (in millions): | ||||||||||||
Cash | $ | 95 | ||||||||||
Total purchase price | $ | 95 | ||||||||||
Purchase price allocation: | ||||||||||||
Property, plant and equipment | $ | 53.4 | ||||||||||
Intangible assets | 33.9 | |||||||||||
Goodwill | 8.6 | |||||||||||
Total assets | 95.9 | |||||||||||
Asset retirement obligation | 0.8 | |||||||||||
Environmental liability | 0.1 | |||||||||||
Total liabilities | 0.9 | |||||||||||
Total | $ | 95 | ||||||||||
The following table is a summary of the purchase accounting adjustments recorded during the fourth quarter related to the Crestwood Merger (in millions): | ||||||||||||
Current Estimate(a) | Preliminary Estimate(b) | Adjustment Based | ||||||||||
on Revised | ||||||||||||
Valuation Report | ||||||||||||
Current assets | $ | 224.5 | $ | 222.7 | $ | 1.8 | ||||||
Property, plant and equipment | 2,088.20 | 2,259.70 | (171.5 | ) | ||||||||
Intangible assets | 337.5 | 315 | 22.5 | |||||||||
Other assets | 12.7 | 12.7 | — | |||||||||
Total identifiable assets acquired | 2,662.90 | 2,810.10 | (147.2 | ) | ||||||||
Current liabilities | 207.5 | 208.9 | (1.4 | ) | ||||||||
Long-term debt | 1,079.30 | 1,079.30 | — | |||||||||
Other long-term liabilities | 146.6 | 213.1 | (66.5 | ) | ||||||||
Total liabilities assumed | 1,433.40 | 1,501.30 | (67.9 | ) | ||||||||
Net identifiable assets acquired | 1,229.50 | 1,308.80 | (79.3 | ) | ||||||||
Goodwill | 2,149.90 | 2,564.40 | (414.5 | ) | ||||||||
Net assets acquired | $ | 3,379.40 | $ | 3,873.20 | $ | (493.8 | ) | |||||
Business Acquisition, Pro Forma Information | ' | |||||||||||
The following table represents the pro forma consolidated statements of operations as if the Legacy Inergy reverse acquisition and Arrow acquisition had been included in our consolidated results for the years ended December 31, 2012 and 2011 and for the entire year ended December 31, 2013, and if the results of operations for the 2011 acquisitions had been included for the entire year ended December 31, 2011 (in millions, except per unit information). All other acquisitions were immaterial in consolidation. | ||||||||||||
Pro Forma Consolidated | ||||||||||||
Statement of Operations | ||||||||||||
(Unaudited) | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 (a) | 2011 (a) | ||||||||||
Revenues | $ | 3,449.30 | $ | 2,267.20 | $ | 1,713.70 | ||||||
Net income (loss) | $ | 3.9 | $ | 49.8 | $ | (35.0 | ) | |||||
Net income (loss) per limited partner unit(b): | ||||||||||||
Basic | $ | 0.04 | $ | 0.31 | $ | (0.25 | ) | |||||
Diluted | $ | 0.04 | $ | 0.29 | $ | (0.25 | ) | |||||
(a) | The years ended December 31, 2012 and 2011 have also been adjusted to reflect the contribution of Inergy, L.P.'s retail operations to Suburban Propane Partners on August 1, 2012 and the subsequent distribution on September 14, 2012 of 99% of the Suburban Propane Partners LP units acquired in the contribution as if that contribution and subsequent distribution had been removed from the consolidated results of operations at the beginning of each period presented. | |||||||||||
(b) Basic and diluted net income per limited partner unit for the years ended December 31, 2012 and 2011 were computed based on the presumption that the common and subordinated units issued to acquire Legacy Crestwood GP (the accounting predecessor) were outstanding for the entire period prior to the June 19, 2013 acquisition. |
Risk_Management_Tables
Risk Management (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Risk Management - Notional Amounts and Terms of Companys Derivative Financial Instruments [Abstract] | ' | |||||
Notional Amounts And Terms Of Company's Derivative Financial Instruments | ' | |||||
The notional amounts and terms of our derivative financial instruments include the following at December 31, 2013 (in millions): | ||||||
31-Dec-13 | ||||||
Fixed Price | Fixed Price | |||||
Payor | Receiver | |||||
Propane, crude and heating oil (barrels) | 5.6 | 6.8 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract] | ' | |||||||||||||||||||||||
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | ' | |||||||||||||||||||||||
The following table reflects the carrying value and fair value of the senior notes (in millions): | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Carrying Amount | Fair | Carrying Amount | Fair | |||||||||||||||||||||
Value | Value | |||||||||||||||||||||||
CEQP senior unsecured notes | $ | 11.4 | $ | 11.6 | $ | — | $ | — | ||||||||||||||||
Crestwood Midstream 2022 senior unsecured notes | $ | 600 | $ | 617.3 | — | $ | — | $ | — | |||||||||||||||
Crestwood Midstream 2019 senior unsecured notes | $ | 351.2 | $ | 379.3 | $ | 351.5 | $ | 365.9 | ||||||||||||||||
Crestwood Midstream 2020 senior unsecured notes | $ | 504.7 | $ | 513.8 | $ | — | $ | — | ||||||||||||||||
Assets And Liabilities Measured At Fair Value On Recurring Basis | ' | |||||||||||||||||||||||
The following tables set forth by level within the fair value hierarchy, our assets and liabilities that were accounted for at fair value on a recurring basis at December 31, 2013 (in millions): | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Fair Value of Derivatives | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Netting | Total | |||||||||||||||||||
Agreements(a) | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||
Assets from price risk management | $ | 0.3 | $ | 27.7 | $ | — | $ | 28 | $ | (13.5 | ) | $ | 14.5 | |||||||||||
SPH units | 6.7 | — | — | 6.7 | — | 6.7 | ||||||||||||||||||
Total assets at fair value | $ | 7 | $ | 27.7 | $ | — | $ | 34.7 | $ | (13.5 | ) | $ | 21.2 | |||||||||||
Liabilities | ||||||||||||||||||||||||
Liabilities from price risk management | $ | 0.1 | $ | 39.5 | $ | — | $ | 39.6 | $ | (4.7 | ) | $ | 34.9 | |||||||||||
Interest rate swaps | — | 4.3 | — | 4.3 | — | 4.3 | ||||||||||||||||||
Total liabilities at fair value | $ | 0.1 | $ | 43.8 | $ | — | $ | 43.9 | $ | (4.7 | ) | $ | 39.2 | |||||||||||
(a) Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions as well as cash collateral held or placed with the same counterparties. |
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Components Of Long-Term Debt | ' | |||||||
Long-term debt consisted of the following at December 31, 2013 and December 31, 2012, (in millions): | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
CEQP credit facility | $ | 381 | $ | — | ||||
CEQP senior notes | 11.4 | — | ||||||
CEQP obligations under noncompetition agreements and notes to former owners of businesses acquired | 2.8 | — | ||||||
Crestwood Midstream Revolver | 414.9 | — | ||||||
Legacy Crestwood credit facility | — | 206.7 | ||||||
Crestwood Midstream 2019 senior notes | 350 | 350 | ||||||
Premium on Crestwood Midstream 2019 senior notes | 1.2 | 1.5 | ||||||
CMM credit facility | — | 127 | ||||||
Crestwood Midstream 2020 senior notes | 500 | — | ||||||
Fair value adjustment of Crestwood Midstream 2020 senior notes | 4.7 | — | ||||||
Crestwood Midstream 2022 senior notes | 600 | — | ||||||
Total debt | 2,266.00 | 685.2 | ||||||
Less: current portion | 5.1 | — | ||||||
Total long-term debt | $ | 2,260.90 | $ | 685.2 | ||||
Schedule of Maturities of Long-term Debt | ' | |||||||
The aggregate amounts of principal to be paid on the outstanding long-term debt and notes payable during the next five years ending December 31 and in total thereafter are as follows (in millions): | ||||||||
2014 | $ | 5.1 | ||||||
2015 | 1 | |||||||
2016 | 379.2 | |||||||
2017 | 0.2 | |||||||
2018 | 422.3 | |||||||
Thereafter | 1,452.30 | |||||||
Total debt | $ | 2,260.10 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | |||||||||||
The provision for income taxes for the years ended December 31, 2013, 2012, and 2011 consisted of the following (in millions): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 2.5 | $ | — | $ | — | ||||||
State | 1.3 | 1.2 | 1.3 | |||||||||
Total current | 3.8 | 1.2 | 1.3 | |||||||||
Deferred: | ||||||||||||
Federal | (2.5 | ) | — | — | ||||||||
State | (0.3 | ) | — | — | ||||||||
Total deferred | (2.8 | ) | — | — | ||||||||
Provision for income taxes | $ | 1 | $ | 1.2 | $ | 1.3 | ||||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||||
Components of the deferred income taxes at December 31, 2013 are as follows (in millions). Legacy Crestwood GP did not have deferred income taxes at December 31, 2012. | ||||||||||||
December 31, | ||||||||||||
2013 | ||||||||||||
Deferred tax liabilities: | ||||||||||||
Basis difference in stock of acquired company | $ | (17.2 | ) | |||||||||
Total deferred tax liability | $ | (17.2 | ) |
Partners_Capital_Tables
Partners' Capital (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Partners' Capital [Abstract] | ' | |||||||||||||||||
Schedule of Limited Partners' Capital Account by Class | ' | |||||||||||||||||
The table below presents limited partner unit issuances by Legacy Crestwood, Inergy Midstream and Crestwood Midstream. | ||||||||||||||||||
Issuer | Issuance Date | Units | Per Unit | Per Unit | Net | |||||||||||||
Gross Price | Net Price (1) | Proceeds | ||||||||||||||||
Legacy Crestwood | April 1, 2011 | 6,243,000 | (2) | $ | 24.5 | $ | — | $ | 152.7 | |||||||||
Legacy Crestwood | May 4, 2011 | 1,800,000 | 30.65 | 29.75 | 53.6 | |||||||||||||
Legacy Crestwood | January 13, 2012 | 3,500,000 | 30.73 | 29.5 | 103.1 | |||||||||||||
Legacy Crestwood | July 25, 2012 | 4,600,000 | (3) | 26 | 24.97 | 114.4 | ||||||||||||
Legacy Crestwood | March 22, 2013 | 5,175,000 | (4) | 23.9 | 23 | 118.5 | ||||||||||||
Inergy Midstream | September 13, 2013 | 11,773,191 | (5) | 22.5 | 21.69 | 255.2 | ||||||||||||
Crestwood Midstream | October 23, 2013 | 16,100,000 | (6) | N/A | 21.19 | 340.3 | ||||||||||||
(1) | Price is net of underwriting discounts. | |||||||||||||||||
(2) | Represents Class C units. | |||||||||||||||||
(3) | Includes 600,000 units that were issued in August 2012. | |||||||||||||||||
(4) | Includes 675,000 units that were issued in April 2013. | |||||||||||||||||
(5) | Includes 773,191 units that were issued on October 7, 2013. | |||||||||||||||||
(6) | Includes 2,100,000 units that were issued on October 30, 2013. | |||||||||||||||||
Schedule of Distributions Made to Members or Limited Partners, by Distribution | ' | |||||||||||||||||
A summary of our limited partner quarterly distributions for the year ended December 31, 2013 (subsequent to the June 19, 2013 reverse acquisition) is presented below: | ||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||
Record Date | Payment Date | Per Unit Rate | Cash Distributions | |||||||||||||||
(in millions) | ||||||||||||||||||
August 7, 2013 | August 14, 2013 | $ | 0.13 | $ | 22.3 | |||||||||||||
November 7, 2013 | November 14, 2013 | $ | 0.135 | 25 | ||||||||||||||
$ | 47.3 | |||||||||||||||||
Equity_Plan_Tables
Equity Plan (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Equity [Abstract] | ' | |||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | ' | |||||||||||||
Payable In Cash | Payable In Units | |||||||||||||
Units | Weighted- | Units | Weighted- | |||||||||||
Average Grant | Average Grant | |||||||||||||
Date Fair | Date Fair | |||||||||||||
Value | Value | |||||||||||||
Unvested - December 31, 2011 | 13,346 | $ | 26.4 | 128,795 | $ | 27.22 | ||||||||
Vested - phantom units | (4,267 | ) | $ | 26.46 | (40,929 | ) | $ | 27.21 | ||||||
Vested - restricted units | — | $ | — | (4,682 | ) | $ | 27.53 | |||||||
Granted - phantom units | — | $ | — | 126,246 | $ | 29.9 | ||||||||
Granted - restricted units | — | $ | — | 37,500 | $ | 25.67 | ||||||||
Canceled - phantom units | (767 | ) | $ | 25.63 | (24,938 | ) | $ | 28.3 | ||||||
Unvested - December 31, 2012 | 8,312 | $ | 26.45 | 221,992 | $ | 28.35 | ||||||||
Vested - phantom units | (7,958 | ) | $ | 26.48 | (329,825 | ) | $ | 26.69 | ||||||
Vested - restricted units | — | $ | — | (74,760 | ) | $ | 25.6 | |||||||
Granted - phantom units | — | $ | — | 161,807 | $ | 24.33 | ||||||||
Granted - restricted units | — | $ | — | 27,900 | $ | 24.86 | ||||||||
Canceled - phantom units | (354 | ) | $ | 25.81 | (7,114 | ) | $ | 27.96 | ||||||
Unvested - December 31, 2013 | — | $ | — | — | $ | — | ||||||||
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | |||||||
Schedule of Asset Retirement Obligations | ' | |||||||
The following table presents the changes in the net asset retirement obligations for the years ended December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Net asset retirement obligation at January 1 | $ | 14 | $ | 11.5 | ||||
Liabilities incurred | — | 0.4 | ||||||
Acquisitions | — | 1.4 | ||||||
Accretion expense | 0.8 | 0.7 | ||||||
Changes in estimate | 0.3 | — | ||||||
Net asset retirement obligation at December 31 | $ | 15.1 | $ | 14 | ||||
Commitments_and_Contingencies_
Commitments and Contingencies Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | |||
Future minimum lease payments under noncancelable operating leases for the next five years ending December 31 and in total thereafter consist of the following (in millions): | ||||
Year Ending | ||||
December 31, | ||||
2014 | $ | 18.2 | ||
2015 | 17.4 | |||
2016 | 17.1 | |||
2017 | 15.8 | |||
2018 | 14.3 | |||
Thereafter | 247.5 | |||
Total minimum lease payments | $ | 330.3 | ||
Schedule of Future Minimum Lease Payments for Capital Leases | ' | |||
Future minimum lease payments related to our capital leases at December 31, 2013 are as follows (in millions): | ||||
Year Ending | ||||
December 31, | ||||
2014 | $ | 2.6 | ||
2015 | 1.3 | |||
2016 | 0.6 | |||
2017 | 0.3 | |||
2018 | — | |||
Thereafter | — | |||
Total payments | 4.8 | |||
Imputed interest | (0.1 | ) | ||
Present value of future payments | $ | 4.7 | ||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Related Party Transactions [Abstract] | ' | |||||||||||
Schedule of Related Party Transactions | ' | |||||||||||
The following table shows revenues, cost of goods sold, operating and administrative expenses and reimbursements from our affiliates for the years December 31, 2013, 2012 and 2011 (in millions): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Gathering and processing revenues | $ | 74.9 | $ | 113.7 | $ | 131.2 | ||||||
Gathering and processing costs of goods sold | $ | 32.5 | $ | 15.2 | $ | — | ||||||
Operating and administrative expenses | $ | 25.3 | $ | 19.5 | $ | 17.9 | ||||||
Schedule of Related Party Receivables and Payables | ' | |||||||||||
The following table shows accounts receivable and accounts payable from our affiliates as of December 31, 2013 and 2012 (in millions): | ||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||
Accounts receivable | $ | — | $ | 23.8 | ||||||||
Accounts payable | $ | 3.6 | $ | 3.1 | ||||||||
Segments_Tables
Segments (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Reportable Segments | ' | |||||||||||||||||||
The following table is a reconciliation of net income to EBITDA (in millions): | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Net income (loss) | $ | (50.6 | ) | $ | 24.4 | $ | 42.1 | |||||||||||||
Add: | ||||||||||||||||||||
Interest and debt expense, net | 77.9 | 35.8 | 27.6 | |||||||||||||||||
Provision for income taxes | 1 | 1.2 | 1.3 | |||||||||||||||||
Depreciation, amortization and accretion | 167.9 | 73.2 | 53.9 | |||||||||||||||||
EBITDA | $ | 196.2 | $ | 134.6 | $ | 124.9 | ||||||||||||||
The following table summarizes the reportable segment data for the years ended December 31, 2013, 2012 and 2011 (in millions). The net asset/liability from price risk management, as reported in the accompanying consolidated balance sheets, is primarily related to the NGL and crude services segment. | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
Gathering and Processing | NGL and Crude Services | Storage and Transportation | Corporate | Total | ||||||||||||||||
Operating revenues | $ | 291.2 | $ | 1,031.30 | $ | 104.2 | $ | — | $ | 1,426.70 | ||||||||||
Costs of product/services sold | 56.6 | 930 | 15.7 | — | 1,002.30 | |||||||||||||||
Operating and administrative expense | 54.9 | 37.6 | 12.1 | 93.5 | 198.1 | |||||||||||||||
Goodwill impairment | (4.1 | ) | — | — | — | (4.1 | ) | |||||||||||||
Other income | — | — | — | 0.2 | 0.2 | |||||||||||||||
Gain (loss) on long-lived assets | 5.4 | (0.1 | ) | — | — | 5.3 | ||||||||||||||
Loss on contingent consideration | (31.4 | ) | — | — | — | (31.4 | ) | |||||||||||||
Earnings (loss) from unconsolidated affiliates | 0.1 | (0.2 | ) | — | — | (0.1 | ) | |||||||||||||
EBITDA | $ | 149.7 | $ | 63.4 | $ | 76.4 | $ | (93.3 | ) | $ | 196.2 | |||||||||
Goodwill | $ | 356.8 | $ | 1,258.90 | $ | 936.5 | $ | — | $ | 2,552.20 | ||||||||||
Total assets | $ | 2,507.30 | $ | 3,465.80 | $ | 2,369.10 | $ | 181 | $ | 8,523.20 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 271.2 | $ | 56.8 | $ | 18 | $ | 1 | $ | 347 | ||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||
Gathering and Processing | NGL and Crude Services | Storage and Transportation | Corporate | Total | ||||||||||||||||
Operating revenues | $ | 239.5 | $ | — | $ | — | $ | — | $ | 239.5 | ||||||||||
Costs of product/services sold | 39 | — | — | — | 39 | |||||||||||||||
Operating and administrative expense | 43.1 | — | — | 29.6 | 72.7 | |||||||||||||||
Gain on contingent consideration | 6.8 | — | — | — | 6.8 | |||||||||||||||
EBITDA | $ | 164.2 | $ | — | $ | — | $ | (29.6 | ) | $ | 134.6 | |||||||||
Goodwill | $ | 352.2 | $ | — | $ | — | $ | — | $ | 352.2 | ||||||||||
Total assets | $ | 2,278.90 | $ | — | $ | — | $ | 22.7 | $ | 2,301.60 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 51.5 | $ | — | $ | — | $ | 1.1 | $ | 52.6 | ||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||
Gathering and Processing | NGL and Crude Services | Storage and Transportation | Corporate | Total | ||||||||||||||||
Operating revenues | $ | 205.8 | $ | — | $ | — | $ | — | $ | 205.8 | ||||||||||
Costs of product/services sold | 38.8 | — | — | — | 38.8 | |||||||||||||||
Operating and administrative expense | 36.3 | — | — | 24.1 | 60.4 | |||||||||||||||
Gain on long-lived assets | 1.1 | — | — | — | 1.1 | |||||||||||||||
Gain on contingent consideration | 17.2 | — | — | — | 17.2 | |||||||||||||||
EBITDA | $ | 149 | $ | — | $ | — | $ | (24.1 | ) | $ | 124.9 | |||||||||
Goodwill | $ | 348.1 | $ | — | $ | — | $ | — | $ | 348.1 | ||||||||||
Total assets | $ | 1,720.90 | $ | — | $ | — | $ | 18.3 | $ | 1,739.20 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 47.8 | $ | — | $ | — | $ | 0.6 | $ | 48.4 | ||||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||
Condensed Consolidating Balance Sheet | ' | |||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Parent | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 0.1 | $ | 2.4 | $ | 2.7 | $ | — | $ | 5.2 | ||||||||||
Accounts receivable | — | 207.5 | 205.1 | — | 412.6 | |||||||||||||||
Inventories | — | 66.6 | 7 | — | 73.6 | |||||||||||||||
Other current assets | — | 25.8 | 10.2 | (5.4 | ) | 30.6 | ||||||||||||||
Total current assets | 0.1 | 302.3 | 225 | (5.4 | ) | 522 | ||||||||||||||
Property, plant and equipment, net | — | 400.9 | 3,504.40 | — | 3,905.30 | |||||||||||||||
Goodwill and intangible assets, net | — | 742.4 | 3,170.20 | — | 3,912.60 | |||||||||||||||
Investment in subsidiary | 5,927.10 | — | — | (5,927.1 | ) | — | ||||||||||||||
Other assets | — | 10.2 | 173.1 | — | 183.3 | |||||||||||||||
Total assets | $ | 5,927.20 | $ | 1,455.80 | $ | 7,072.70 | $ | (5,932.5 | ) | $ | 8,523.20 | |||||||||
Liabilities and partners' capital | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | — | $ | 218.3 | $ | 160.7 | $ | — | $ | 379 | ||||||||||
Other current liabilities | 4.2 | 61.6 | 156.7 | (5.4 | ) | 217.1 | ||||||||||||||
Total current liabilities | 4.2 | 279.9 | 317.4 | (5.4 | ) | 596.1 | ||||||||||||||
Long-term liabilities: | ||||||||||||||||||||
Long-term debt, less current portion | 393 | — | 1,867.90 | — | 2,260.90 | |||||||||||||||
Other long-term liabilities | 21.4 | 109.9 | 26.3 | — | 157.6 | |||||||||||||||
Total long-term liabilities | 414.4 | 109.9 | 1,894.20 | — | 2,418.50 | |||||||||||||||
Partners' capital | 831.6 | 1,066.00 | 184.1 | (1,250.1 | ) | 831.6 | ||||||||||||||
Interest of non-controlling partners in subsidiaries | 4,677.00 | — | 4,677.00 | (4,677.0 | ) | 4,677.00 | ||||||||||||||
Total partners' capital | 5,508.60 | 1,066.00 | 4,861.10 | (5,927.1 | ) | 5,508.60 | ||||||||||||||
Total liabilities and partners' capital | $ | 5,927.20 | $ | 1,455.80 | $ | 7,072.70 | $ | (5,932.5 | ) | $ | 8,523.20 | |||||||||
Condensed Consolidating Statements of Operations | ' | |||||||||||||||||||
Condensed Consolidating Statements of Operations | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Parent | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | ||||||||||||||||||||
Revenues: | ||||||||||||||||||||
Gathering and processing | $ | — | $ | — | $ | 216.3 | $ | — | $ | 216.3 | ||||||||||
NGL and crude services | — | 761.2 | 270.1 | — | 1,031.30 | |||||||||||||||
Storage and transportation | — | 14.1 | 90.1 | — | 104.2 | |||||||||||||||
Related party | — | — | 82.1 | (7.2 | ) | 74.9 | ||||||||||||||
— | 775.3 | 658.6 | (7.2 | ) | 1,426.70 | |||||||||||||||
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ||||||||||||||||||||
Gathering and processing | — | — | 24.1 | — | 24.1 | |||||||||||||||
NGL and crude services | — | 699.6 | 230.4 | — | 930 | |||||||||||||||
Storage and transportation | — | 7 | 8.7 | — | 15.7 | |||||||||||||||
Related party | — | 7.2 | 32.5 | (7.2 | ) | 32.5 | ||||||||||||||
— | 713.8 | 295.7 | (7.2 | ) | 1,002.30 | |||||||||||||||
Expenses: | ||||||||||||||||||||
Operating and administrative | — | 41.3 | 156.8 | — | 198.1 | |||||||||||||||
Depreciation, amortization and accretion | — | 26 | 141.9 | — | 167.9 | |||||||||||||||
— | 67.3 | 298.7 | — | 366 | ||||||||||||||||
Other operating income (expense): | ||||||||||||||||||||
Loss on contingent consideration | — | — | (31.4 | ) | — | (31.4 | ) | |||||||||||||
Other | — | (0.1 | ) | 1.3 | — | 1.2 | ||||||||||||||
Operating income (loss) | — | (5.9 | ) | 34.1 | — | 28.2 | ||||||||||||||
Interest and debt expense, net | (6.5 | ) | — | (71.4 | ) | — | (77.9 | ) | ||||||||||||
Other | — | 0.2 | (0.1 | ) | — | 0.1 | ||||||||||||||
Equity in net income of subsidiary | (43.9 | ) | — | — | 43.9 | — | ||||||||||||||
Income (loss) before income taxes | (50.4 | ) | (5.7 | ) | (37.4 | ) | 43.9 | (49.6 | ) | |||||||||||
Provision for income taxes | 0.2 | 0.1 | 0.7 | — | 1 | |||||||||||||||
Net income (loss) | (50.6 | ) | (5.8 | ) | (38.1 | ) | 43.9 | (50.6 | ) | |||||||||||
Net loss attributable to non-controlling partners in subsidiaries | — | — | 57.3 | — | 57.3 | |||||||||||||||
Net income (loss) attributable to partners | $ | (50.6 | ) | $ | (5.8 | ) | $ | 19.2 | $ | 43.9 | $ | 6.7 | ||||||||
Condensed Consolidating Statements of Comprehensive Income | ' | |||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Parent | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | ||||||||||||||||||||
Net income (loss) | $ | (50.6 | ) | $ | (5.8 | ) | $ | (38.1 | ) | $ | 43.9 | $ | (50.6 | ) | ||||||
Change in Suburban Propane Partners LP units | (0.1 | ) | — | — | — | (0.1 | ) | |||||||||||||
Comprehensive income (loss) | $ | (50.7 | ) | $ | (5.8 | ) | $ | (38.1 | ) | $ | 43.9 | $ | (50.7 | ) | ||||||
Condensed Consolidating Statements of Cash Flows | ' | |||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Parent | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | ||||||||||||||||||||
Cash flows from operating activities: | $ | — | $ | 1.8 | $ | 186.5 | $ | — | $ | 188.3 | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Acquisitions, net of cash acquired | — | 5.9 | (561.5 | ) | — | (555.6 | ) | |||||||||||||
Purchases of property, plant and equipment | — | (12.4 | ) | (334.6 | ) | — | (347.0 | ) | ||||||||||||
Investment in unconsolidated affiliates, net | — | — | (151.5 | ) | — | (151.5 | ) | |||||||||||||
Distributions received and other | 76 | 17 | 11.1 | (92.9 | ) | 11.2 | ||||||||||||||
Net cash provided by (used in) investing activities | 76 | 10.5 | (1,036.5 | ) | (92.9 | ) | (1,042.9 | ) | ||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 394.1 | 2,072.80 | — | 2,466.90 | |||||||||||||||
Principal payments on long-term debt | — | (333.3 | ) | (1,634.3 | ) | — | (1,967.6 | ) | ||||||||||||
Distributions paid | (76.0 | ) | (59.1 | ) | (155.2 | ) | 92.9 | (197.4 | ) | |||||||||||
Distributions paid to non-controlling partners | — | — | (204.5 | ) | — | (204.5 | ) | |||||||||||||
Net proceeds from the issuance of common units | — | — | 714 | — | 714 | |||||||||||||||
Proceeds from issuance of preferred equity | — | — | 96.1 | — | 96.1 | |||||||||||||||
Other | 0.1 | (11.6 | ) | (36.3 | ) | — | (47.8 | ) | ||||||||||||
Net cash provided by (used in) financing activities | (75.9 | ) | (9.9 | ) | 852.6 | 92.9 | 859.7 | |||||||||||||
Net increase in cash | 0.1 | 2.4 | 2.6 | — | 5.1 | |||||||||||||||
Cash at beginning of period | — | — | 0.1 | — | 0.1 | |||||||||||||||
Cash at end of period | $ | 0.1 | $ | 2.4 | $ | 2.7 | $ | — | $ | 5.2 | ||||||||||
Quarterly_Financial_Data_Table
Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information | ' | ||||||||||||||||
Summarized unaudited quarterly financial data is presented below (in millions, except per unit information): | |||||||||||||||||
Quarter Ended | |||||||||||||||||
March 31 | June 30 | September 30 | 31-Dec | ||||||||||||||
2013 | |||||||||||||||||
Revenues | $ | 72.4 | $ | 118.9 | $ | 427.2 | $ | 808.2 | |||||||||
Operating income (loss) | 15.7 | 7.8 | 15.8 | (11.1 | ) | (b) | |||||||||||
Earnings (loss) from unconsolidated affiliates | — | — | (0.4 | ) | 0.3 | ||||||||||||
Net income (loss) | 3.9 | (4.5 | ) | (7.9 | ) | (42.1 | ) | ||||||||||
Net income (loss) attributable to partners | 5.1 | 1.6 | (8.3 | ) | 8.3 | ||||||||||||
Net income (loss) per limited partner unit:(a) | |||||||||||||||||
Basic(c) | $ | 0.13 | $ | 0.03 | $ | (0.05 | ) | $ | 0.04 | ||||||||
Diluted(c) | $ | 0.13 | $ | 0.03 | $ | (0.05 | ) | $ | 0.04 | ||||||||
2012 | |||||||||||||||||
Revenues | $ | 53.8 | $ | 55.2 | $ | 63 | $ | 67.5 | |||||||||
Operating income | 12.4 | 17.5 | 18.3 | 13.2 | |||||||||||||
Net income | 4.5 | 8.3 | 9.1 | 2.5 | |||||||||||||
Net income attributable to partners | 3.3 | 3.4 | 6 | 2.2 | |||||||||||||
Net income per limited partner unit:(a) | |||||||||||||||||
Basic | $ | 0.08 | $ | 0.09 | $ | 0.15 | $ | 0.06 | |||||||||
Diluted | $ | 0.08 | $ | 0.09 | $ | 0.15 | $ | 0.06 | |||||||||
(a) | Basic and diluted net income for the quarter ended March 31, 2013 and each of the quarters ended December 31, 2012, were calculated based on the presumption that the common and subordinated units issued to acquire Legacy Crestwood GP (the accounting predecessor) were outstanding for the entire period prior to the June 19, 2013 acquisition. | ||||||||||||||||
(b) | Includes a $31.4 million loss on contingent consideration which reflects the fair value of an earn-out premium associated with the original acquisition of our Antero assets. See Notes 4 and 15 for a further discussion of this non-cash charge. | ||||||||||||||||
(c) | The accumulation of basic and diluted net income (loss) per limited partner unit does not total the amount for the year due to changes in ownership percentages throughout the year. | ||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | ||||||||||||||||
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the merger date (in millions): | |||||||||||||||||
Current assets | $ | 224.5 | |||||||||||||||
Property, plant and equipment | 2,088.20 | ||||||||||||||||
Intangible assets | 337.5 | ||||||||||||||||
Other assets | 12.7 | ||||||||||||||||
Total identifiable assets acquired | 2,662.90 | ||||||||||||||||
Current liabilities | 207.5 | ||||||||||||||||
Long-term debt | 1,079.30 | ||||||||||||||||
Other long-term liabilities | 146.6 | ||||||||||||||||
Total liabilities assumed | 1,433.40 | ||||||||||||||||
Net identifiable assets acquired | 1,229.50 | ||||||||||||||||
Goodwill | 2,149.90 | ||||||||||||||||
Net assets acquired | $ | 3,379.40 | |||||||||||||||
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the acquisition date (in millions): | |||||||||||||||||
Current assets | $ | 192.3 | |||||||||||||||
Property, plant and equipment | 399 | ||||||||||||||||
Intangible assets | 323.4 | ||||||||||||||||
Other assets | 19.4 | ||||||||||||||||
Total identifiable assets acquired | 934.1 | ||||||||||||||||
Current liabilities | 213.1 | ||||||||||||||||
Other long-term liabilities | 3.7 | ||||||||||||||||
Total liabilities assumed | 216.8 | ||||||||||||||||
Net identifiable assets acquired | 717.3 | ||||||||||||||||
Goodwill | 45.5 | ||||||||||||||||
Net assets acquired | $ | 762.8 | |||||||||||||||
The final purchase price allocation is as follows (in millions): | |||||||||||||||||
Cash | $ | 87.9 | |||||||||||||||
Total purchase price | $ | 87.9 | |||||||||||||||
Purchase price allocation: | |||||||||||||||||
Property, plant and equipment | $ | 88.6 | |||||||||||||||
Total assets | 88.6 | ||||||||||||||||
Asset retirement obligation | 0.5 | ||||||||||||||||
Environmental liability | 0.2 | ||||||||||||||||
Total liabilities | 0.7 | ||||||||||||||||
Total | $ | 87.9 | |||||||||||||||
The final purchase price allocation is as follows (in millions): | |||||||||||||||||
Cash | $ | 95 | |||||||||||||||
Total purchase price | $ | 95 | |||||||||||||||
Purchase price allocation: | |||||||||||||||||
Property, plant and equipment | $ | 53.4 | |||||||||||||||
Intangible assets | 33.9 | ||||||||||||||||
Goodwill | 8.6 | ||||||||||||||||
Total assets | 95.9 | ||||||||||||||||
Asset retirement obligation | 0.8 | ||||||||||||||||
Environmental liability | 0.1 | ||||||||||||||||
Total liabilities | 0.9 | ||||||||||||||||
Total | $ | 95 | |||||||||||||||
The following table is a summary of the purchase accounting adjustments recorded during the fourth quarter related to the Crestwood Merger (in millions): | |||||||||||||||||
Current Estimate(a) | Preliminary Estimate(b) | Adjustment Based | |||||||||||||||
on Revised | |||||||||||||||||
Valuation Report | |||||||||||||||||
Current assets | $ | 224.5 | $ | 222.7 | $ | 1.8 | |||||||||||
Property, plant and equipment | 2,088.20 | 2,259.70 | (171.5 | ) | |||||||||||||
Intangible assets | 337.5 | 315 | 22.5 | ||||||||||||||
Other assets | 12.7 | 12.7 | — | ||||||||||||||
Total identifiable assets acquired | 2,662.90 | 2,810.10 | (147.2 | ) | |||||||||||||
Current liabilities | 207.5 | 208.9 | (1.4 | ) | |||||||||||||
Long-term debt | 1,079.30 | 1,079.30 | — | ||||||||||||||
Other long-term liabilities | 146.6 | 213.1 | (66.5 | ) | |||||||||||||
Total liabilities assumed | 1,433.40 | 1,501.30 | (67.9 | ) | |||||||||||||
Net identifiable assets acquired | 1,229.50 | 1,308.80 | (79.3 | ) | |||||||||||||
Goodwill | 2,149.90 | 2,564.40 | (414.5 | ) | |||||||||||||
Net assets acquired | $ | 3,379.40 | $ | 3,873.20 | $ | (493.8 | ) | ||||||||||
Organization_and_Description_o1
Organization and Description of Business (Narrative) (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||||
In Millions, except Share data, unless otherwise specified | Jun. 19, 2013 | Dec. 31, 2013 | Oct. 07, 2013 | Dec. 31, 2013 | 6-May-13 | 6-May-13 | Oct. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 19, 2013 | Oct. 07, 2013 | Oct. 07, 2013 | Jun. 05, 2013 | Jun. 05, 2013 |
segment | CMLP | Crestwood Equity Partners LP | Inergy Midstream | Crestwood Holdings | CMLP | Distribution Rights | Distribution Rights | Majority Shareholder | Crestwood Holdings | Crestwood Holdings | Class D Units | Common Units | ||
Crestwood Equity Partners LP | Affiliated Entity | Crestwood Equity Partners LP | Majority Shareholder | Majority Shareholder | Majority Shareholder | |||||||||
Unit Distribution | Affiliated Entity | Affiliated Entity | ||||||||||||
Unit Distribution | Unit Distribution | |||||||||||||
Partnership Organization And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General partner ownership percentage | 100.00% | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Rights, Distribution Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' |
Distribution declared per limited partner unit | ' | ' | ' | ' | ' | ' | ' | $0.37 | ' | ' | ' | ' | ' | ' |
Business Combination, Equity Interest Issued or Issuable, Conversion Ratio | ' | ' | ' | ' | ' | ' | 1.07 | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | $34.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Cash Payments to Unitholders Upon Completion of Merger, Per Unit | ' | ' | 1.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Cash Payments to Unitholders Upon Completion of Merger | ' | ' | ' | ' | $24.90 | $10 | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution Made to Limited Partner, Unit Distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,400,000 | ' | ' | 21,588 | 137,105 |
Reverse Merger, Exchange Option, Shares Exchanged by Acquirer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,100,000 | ' | ' |
Reverse Merger, Exchange Option, Shares Issued by Acquiree | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,300,000 | ' | ' | ' |
Number of operating segments | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis_of_Presentation_and_Summ3
Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
segment | |||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Deferred Revenue, Current | $2.10 | $2.60 | ' |
Inventory (Note 3) | 73.6 | 0 | ' |
Goodwill impairment | 4.1 | 0 | 0 |
Percentage of gross income from qualifying sources required to be subject to federal income tax, minimum | 90.00% | ' | ' |
Unit-based compensation charges | $17.40 | $1.90 | $0.90 |
Number of operating segments | 3 | ' | ' |
Basis_of_Presentation_and_Summ4
Basis of Presentation and Summary of Significant Accounting Policies (Credit Risk and Concentrations) (Details) | 12 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
Sales Revenue, Net | Quicksilver | Quicksilver | Quicksilver | Antero | Antero | PBF Holding Corp | Bp Amoco Corp | |
Supplier Concentration Risk | Sales Revenue, Net | Sales Revenue, Segment | Accounts Receivable | Sales Revenue, Segment | Accounts Receivable | Propane Member | Propane Member | |
supplier | Customer Concentration Risk | Credit Concentration Risk | Credit Concentration Risk | Supplier Concentration Risk | Supplier Concentration Risk | |||
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Number | 2 | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | 47.00% | 64.00% | 48.00% | 11.00% | 14.00% | 14.00% | 11.00% |
Basis_of_Presentation_and_Summ5
Basis of Presentation and Summary of Significant Accounting Policies (Estimated Useful Lives Of Property, Plant And Equipment) (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Gathering systems and pipelines | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '20 years |
Gathering systems and pipelines | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '20 years |
Facilities and equipment | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '20 years |
Facilities and equipment | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '25 years |
Buildings, rights-of-way and easements | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '20 years |
Buildings, rights-of-way and easements | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '40 years |
Office furniture and fixtures | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '5 years |
Office furniture and fixtures | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '10 years |
Vehicles | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '5 years |
Vehicles | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '5 years |
Pipelines | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '20 years |
Pipelines | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '20 years |
Base gas | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '10 years |
Basis_of_Presentation_and_Summ6
Basis of Presentation and Summary of Significant Accounting Policies (Estimated Economic Lives Of Intangible Assets) (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Customer Relationships | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, weighted average useful life | '12 years |
Covenants not to compete | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, weighted average useful life | '4 years |
Trademarks | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, weighted average useful life | '6 years |
Deferred Financing Costs | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, weighted average useful life | '6 years |
Certain_Balance_Sheet_Informat2
Certain Balance Sheet Information (Inventories) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ' | ' |
NGLs | $66.90 | ' |
Parts, supplies and other | 6.7 | ' |
Total inventory | $73.60 | $0 |
Certain_Balance_Sheet_Informat3
Certain Balance Sheet Information (Property, Plant And Equipment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | $4,108.70 | $1,197.40 | ' |
Less: accumulated depreciation and depletion | 203.4 | 95 | ' |
Property, plant and equipment, net | 3,905.30 | 1,102.40 | ' |
Depreciation | 109.9 | 49.1 | 39.1 |
Depletion | 0.4 | ' | ' |
Interest Costs Capitalized | 3.4 | 0.2 | ' |
Capital Leased Assets, Gross | 5 | 7.1 | ' |
Asset Impairment Charges | ' | 1.6 | ' |
Operating and administrative | ' | 1.3 | ' |
Insurance Settlements Receivable | 1 | 2.9 | ' |
Gain on long-lived assets | 5.3 | 0 | 1.1 |
Proceeds from sale of assets | 11.2 | 0 | 6 |
Gathering systems and pipelines | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 1,473.40 | 582.3 | ' |
Facilities and equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 1,186.50 | 485.8 | ' |
Gain on long-lived assets | 4.4 | ' | ' |
Buildings, rights-of-way and easements | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 86.3 | 66.4 | ' |
Land and storage rights | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 728.4 | 4.1 | ' |
Vehicles | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 35.8 | 0.3 | ' |
Construction in process | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 365.8 | 56 | ' |
Base gas | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 102 | 0 | ' |
Salt deposits | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 120.5 | 0 | ' |
Office furniture and fixtures | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | $10 | $2.50 | ' |
Certain_Balance_Sheet_Informat4
Certain Balance Sheet Information (Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Less: accumulated amortization | ($106) | ($49.90) | ' |
Total intangible assets, net | 1,360.40 | 795.3 | ' |
Amortization of Intangible Assets and Interest Expense | 66.7 | 28.9 | 17.8 |
Customer accounts | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 576.9 | 0 | ' |
Less: accumulated amortization | 18.7 | 0 | ' |
Covenants not to compete | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 7 | 0 | ' |
Less: accumulated amortization | 1 | 0 | ' |
Gathering systems and pipelines | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 750.2 | 813 | ' |
Less: accumulated amortization | 67.3 | 40.2 | ' |
Acquired storage contracts | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 43.5 | 0 | ' |
Less: accumulated amortization | 8.6 | 0 | ' |
Trademarks | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 33.5 | 0 | ' |
Less: accumulated amortization | -2.3 | 0 | ' |
Deferred financing and other costs | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 55.3 | 32.2 | ' |
Less: accumulated amortization | $8.10 | $9.70 | ' |
Certain_Balance_Sheet_Informat5
Certain Balance Sheet Information (Amortization and Interest Expense, Fiscal Year Maturity) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
2014 | $107.80 |
2015 | 108 |
2016 | 96.6 |
2017 | 86.3 |
2018 | $75.80 |
Certain_Balance_Sheet_Informat6
Certain Balance Sheet Information (Accrued Expenses and Other Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Payables and Accruals [Abstract] | ' | ' |
Accrued Liabilities, Current | $40.30 | $9.60 |
Accrual for Taxes Other than Income Taxes, Current | 9.4 | 5.6 |
Accounts Payable, Trade, Current | 1.6 | 2.5 |
Taxes Payable, Current | 14.8 | 2.2 |
Interest Payable | 16.7 | 7.5 |
Accrued Capital Purchases | 58.2 | 9.2 |
Accrued Commitments and Contingent Liabilities | 31.4 | 0 |
Accrued Capital Leases | 2.6 | 3.9 |
Deferred Revenue, Current | 2.1 | 2.6 |
Accrued expenses and other liabilities (Note 3) | $177.10 | $43.10 |
Acquisitions_Assets_Acquired_L
Acquisitions (Assets Acquired, Liabilities Assumed) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Jun. 19, 2013 | Dec. 31, 2013 | Dec. 28, 2013 | Dec. 28, 2012 | Aug. 24, 2013 | Nov. 08, 2013 | ||
Purchase Price Allocation Adjustments | EMAC | EMAC | Devon | Arrow Midstream Holdings, LLC | ||||||||
Change in Accounting Estimate [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Current assets | ' | ' | ' | $222.70 | [1] | $224.50 | [2] | $1.80 | ' | ' | ' | $192.30 |
Property, plant and equipment | ' | ' | ' | 2,259.70 | [1] | 2,088.20 | [2] | -171.5 | 53.4 | ' | 88.6 | 399 |
Intangible assets | ' | ' | ' | 315 | [1] | 337.5 | [2] | 22.5 | 33.9 | ' | ' | 323.4 |
Other assets | ' | ' | ' | 12.7 | [1] | 12.7 | [2] | 0 | ' | ' | ' | 19.4 |
Total identifiable assets acquired | ' | ' | ' | 2,810.10 | [1] | 2,662.90 | [2] | -147.2 | 95.9 | ' | 88.6 | 934.1 |
Current liabilities | ' | ' | ' | 208.9 | [1] | 207.5 | [2] | -1.4 | ' | ' | ' | 213.1 |
Long-term debt | ' | ' | ' | 1,079.30 | [1] | 1,079.30 | [2] | 0 | ' | ' | ' | ' |
Other long-term liabilities | ' | ' | ' | 213.1 | [1] | 146.6 | [2] | -66.5 | ' | ' | ' | 3.7 |
Total liabilities assumed | ' | ' | ' | 1,501.30 | [1] | 1,433.40 | [2] | -67.9 | 0.9 | ' | 0.7 | 216.8 |
Net identifiable assets acquired | ' | ' | ' | 1,308.80 | [1] | 1,229.50 | [2] | -79.3 | ' | ' | ' | 717.3 |
Goodwill | 2,552.20 | 352.2 | 348.1 | 2,564.40 | [1] | 2,149.90 | [2] | -414.5 | 8.6 | 8.6 | ' | 45.5 |
Net assets acquired | ' | ' | ' | 3,873.20 | [1] | 3,379.40 | [2] | -493.8 | ' | ' | ' | 762.8 |
Cash | ' | ' | ' | ' | ' | ' | 95 | ' | 87.9 | ' | ||
Total acquisitions, net of cash acquired | 555.6 | 564 | 414.1 | ' | ' | ' | 95 | ' | 87.9 | ' | ||
Asset retirement obligation | ' | ' | ' | ' | ' | ' | 0.8 | ' | 0.5 | ' | ||
Environmental liability | ' | ' | ' | ' | ' | ' | $0.10 | ' | $0.20 | ' | ||
[1] | Preliminary estimate recorded as of September 30, 2013. | |||||||||||
[2] | See Note 4 for additional information related to the December 31, 2013 estimate of the fair values of the assets acquired and liabilities assumed at June 19, 2013, the date of the merger. |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Jun. 19, 2013 | Jan. 08, 2013 | Feb. 29, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 08, 2013 | Oct. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 26, 2012 | Mar. 26, 2012 | Aug. 24, 2013 | Dec. 31, 2013 | Aug. 24, 2012 | Dec. 28, 2013 | Dec. 31, 2013 | Dec. 28, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 16, 2011 | Apr. 02, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 02, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 01, 2011 | Oct. 31, 2013 | Oct. 08, 2013 | Mar. 26, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Inergy Midstream | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC | Antero | Antero | Antero | Antero | Devon | Devon | Devon | EMAC | EMAC | EMAC | Las Animas | Las Animas | Las Animas | Frontier Gas | Granite Wash | Granite Wash | Granite Wash | Tristate Sabine | Tristate Sabine | Tristate Sabine | Subsequent Event | Subsequent Event | Scenario, Forecast | Crude Oil and NGL | Crude Oil and NGL | Crude Oil and NGL | Crude Oil and NGL | Storage and Transportation | Storage and Transportation | Storage and Transportation | ||||||||||
mi | Minimum | acre | acre | acre | acre | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC | Antero | Inergy Midstream | ||||||||||||||||||||||||||||||||||
acre | ft3 | mi | mi | mi | mi | acre | Minimum | ||||||||||||||||||||||||||||||||||||
ft3 | ft3 | ft3 | ft3 | ||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt, Market Adjustment | $100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Goodwill | 2,552,200,000 | 352,200,000 | 348,100,000 | 2,564,400,000 | [1] | 2,149,900,000 | [2] | ' | ' | ' | ' | 45,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | 8,600,000 | ' | 8,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,258,900,000 | 0 | 0 | 1,213,400,000 | 936,500,000 | 0 | 0 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
2014 | 107,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
2015 | 108,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
2016 | 96,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
2017 | 86,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
2018 | 75,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Consideration Transferred | ' | ' | ' | ' | ' | 258,000,000 | ' | ' | ' | ' | 750,000,000 | ' | ' | 376,800,000 | ' | ' | ' | 87,300,000 | ' | ' | 95,000,000 | ' | ' | 5,100,000 | 344,600,000 | ' | ' | ' | ' | ' | 72,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Consideration Transferred, Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,200,000 | ' | ' | -700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Liabilities Incurred and Equity Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 338,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Revenue of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | ' | 916,700,000 | 218,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | ' | ' | ' | 59,000,000 | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Earnings or Loss of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | ' | 23,900,000 | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | 5,400,000 | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Long-term Purchase Commitment, Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87,900,000 | ' | ' | 95,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 550,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Partners' Capital Account, Units, Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,826,125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Gathering Pipeline Acquired (in miles) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46 | 130 | ' | ' | 28 | ' | ' | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Volume of Natural Gas for System Acquired, Per Day | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000,000 | ' | ' | ' | ' | ' | 450,000,000 | ' | ' | ' | ' | ' | ' | ' | ||
Deferred Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Accounts Payable, Other, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Central Delivery Point Acquired Asset, Area | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Assets Acquired, Gross Acres | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55,000 | 100,000 | ' | ' | 13,000 | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Purchase Agreement, Assets Acquired, Net Acres | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Volume of Natural Gas for System Acquired, High Pressure System, Per Day | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 510,000,000 | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Volume of Natural Gas for System Acquired, Low Pressure System, Per Day | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 165,000,000 | ' | ' | ' | ' | ' | 80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Cost of Acquired Entity, Cash Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Contingent Consideration, Deferred Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Acquisition, Contingent Consideration, Potential Cash Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Gain (loss) on contingent consideration (Note 15) | ($31,400,000) | $6,800,000 | $17,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ($31,400,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair Value Inputs, Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | Preliminary estimate recorded as of September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||||
[2] | See Note 4 for additional information related to the December 31, 2013 estimate of the fair values of the assets acquired and liabilities assumed at June 19, 2013, the date of the merger. |
Acquisitions_Pro_Forma_Revenue
Acquisitions (Pro Forma Revenues) (Details) (Rangeland Energy, LLC, USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Rangeland Energy, LLC | ' | ' | ' | |||
Business Acquisition [Line Items] | ' | ' | ' | |||
Revenue | $3,449.30 | $2,267.20 | [1] | $1,713.70 | [1] | |
Net income (loss) | $3.90 | $49.80 | [1] | ($35) | [1] | |
Earnings Per Share, Basic | $0.04 | [2] | $0.31 | [1],[2] | ($0.25) | [1],[2] |
Earnings Per Share, Diluted | $0.04 | [2] | $0.29 | [1],[2] | ($0.25) | [1],[2] |
[1] | The years ended December 31, 2012 and 2011 have also been adjusted to reflect the contribution of Inergy, L.P.'s retail operations to Suburban Propane Partners on August 1, 2012 and the subsequent distribution on September 14, 2012 of 99% of the Suburban Propane Partners LP units acquired in the contribution as if that contribution and subsequent distribution had been removed from the consolidated results of operations at the beginning of each period presented. | |||||
[2] | Basic and diluted net income per limited partner unit for the years ended December 31, 2012 and 2011 were computed based on the presumption that the common and subordinated units issued to acquire Legacy Crestwood GP (the accounting predecessor) were outstanding for the entire period prior to the June 19, 2013 acquisition. |
Investments_in_Unconsolidated_1
Investments in Unconsolidated Affiliates (Details) (USD $) | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 4 Months Ended | |||||||||
In Millions, unless otherwise specified | Feb. 29, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 08, 2013 | Dec. 31, 2013 | Sep. 04, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Sep. 04, 2013 | Dec. 31, 2013 |
Powder River Basin Industrial Complex, LLC | Powder River Basin Industrial Complex, LLC | Powder River Basin Industrial Complex, LLC | RKI Exploration and Production, LLC's | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Access Midstream Partners, L.P. | Crude Logistics LLC | Crude Logistics LLC | ||||||
Majority Shareholder | Jackalope Gas Gathering Services, LLC | RKI Exploration and Production, LLC's | RKI Exploration and Production, LLC's | RKI Exploration and Production, LLC's | Powder River Basin Industrial Complex, LLC | Powder River Basin Industrial Complex, LLC | ||||||||
acre | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Voting Interests Acquired | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' |
Consideration Transferred | ' | ' | ' | ' | $258 | ' | ' | ' | ' | ' | $107.50 | ' | ' | ' |
Long-term Purchase Commitment, Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' |
Assets Acquired, Gross Acres | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 311,000 | ' | ' |
Additional Paid in Capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.6 | ' | ' | ' | ' |
Loss from unconsolidated affiliates, net | ' | -0.1 | 0 | 0 | ' | ' | ' | -0.2 | 1.5 | ' | ' | ' | ' | ' |
Difference Between Carrying Amount and Underlying Equity | ' | ' | ' | ' | ' | ' | ' | ' | 56.8 | ' | ' | ' | ' | ' |
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | ' | ' | ' | ' | ' |
Investment in unconsolidated affiliates in period | 131.3 | 151.5 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 22.5 | 1.9 |
Equity method ownership percentage | 35.00% | ' | ' | ' | ' | ' | 50.01% | ' | ' | ' | ' | ' | ' | ' |
Investment in unconsolidated affiliates | ' | $151.40 | $0 | ' | ' | $24.20 | ' | ' | ' | ' | ' | ' | ' | ' |
Risk_Management_Notional_Amoun
Risk Management (Notional Amounts and Terms of Company's Derivative Financial Instruments) (Details) | Dec. 31, 2013 |
bbl | |
Fixed Price Payor | ' |
Derivative [Line Items] | ' |
Propane, crude and heating oil (barrels) | 5,600,000 |
Fixed Price Receiver | ' |
Derivative [Line Items] | ' |
Propane, crude and heating oil (barrels) | 6,800,000 |
Risk_Management_Narrative_Deta
Risk Management (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Derivative [Line Items] | ' |
Collateral posted for commodity derivative instruments | 5.9 |
Commodity contract | ' |
Derivative [Line Items] | ' |
Aggregate fair value of commodity derivative instruments | 16.6 |
Collateral posted for commodity derivative instruments | 2.6 |
NYMEX margin deposit | ' |
Derivative [Line Items] | ' |
NYMEX margin deposit | 3.6 |
Price Risk Contracts | Maximum | ' |
Derivative [Line Items] | ' |
Derivative, Remaining Maturity | '36 months |
Derivative Contracts, Contracts Expiring in Next Twleve Months, Percent | 97.40% |
Products and services sold | ' |
Derivative [Line Items] | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 10.7 |
Fair_Value_Measurements_Schedu
Fair Value Measurements (Schedule of Carrying Values and Estimated Fair Values of Senior Notes) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Carrying Amount | $11.40 | $0 |
Fair Value | 11.6 | 0 |
Crestwood Midstream 2020 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Carrying Amount | 500 | ' |
CMLP | Crestwood Midstream 2022 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Carrying Amount | 600 | 0 |
Fair Value | 617.3 | 0 |
CMLP | Crestwood Midstream 2019 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Carrying Amount | 351.2 | 351.5 |
Fair Value | 379.3 | 365.9 |
CMLP | Crestwood Midstream 2020 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Carrying Amount | 504.7 | 0 |
Fair Value | $513.80 | $0 |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | |
In Millions, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Assets from price risk management | $14.50 | |
SPH units | 6.7 | |
Total assets at fair value | 21.2 | |
Liabilities from price risk management | 34.9 | |
Interest rate swaps | 4.3 | |
Total liabilities at fair value | 39.2 | |
Level 1 | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Assets from price risk management | 0.3 | |
SPH units | 6.7 | |
Total assets at fair value | 7 | |
Liabilities from price risk management | 0.1 | |
Interest rate swaps | 0 | |
Total liabilities at fair value | 0.1 | |
Level 2 | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Assets from price risk management | 27.7 | |
SPH units | 0 | |
Total assets at fair value | 27.7 | |
Liabilities from price risk management | 39.5 | |
Interest rate swaps | 4.3 | |
Total liabilities at fair value | 43.8 | |
Level 3 | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Assets from price risk management | 0 | |
SPH units | 0 | |
Total assets at fair value | 0 | |
Liabilities from price risk management | 0 | |
Interest rate swaps | 0 | |
Total liabilities at fair value | 0 | |
Total | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Assets from price risk management | 28 | |
SPH units | 6.7 | |
Total assets at fair value | 34.7 | |
Liabilities from price risk management | 39.6 | |
Interest rate swaps | 4.3 | |
Total liabilities at fair value | 43.9 | |
Netting Agreements | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Assets from price risk management | -13.5 | [1] |
SPH units | 0 | [1] |
Total assets at fair value | -13.5 | [1] |
Liabilities from price risk management | -4.7 | [1] |
Interest rate swaps | 0 | [1] |
Total liabilities at fair value | ($4.70) | [1] |
[1] | Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions as well as cash collateral held or placed with the same counterparties. |
Earnings_Per_Limited_Partner_U1
Earnings Per Limited Partner Unit (Schedule of Reconciliation of Earnings Per Share) (Details) (Maximum, General Partner) | 12 Months Ended |
Dec. 31, 2013 | |
CMLP | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' |
Incentive Distribution Rights, Distribution Percentage | 100.00% |
Legacy Crestwood | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' |
Incentive Distribution Rights, Distribution Percentage | 100.00% |
Debt_Components_Of_LongTerm_De
Debt (Components Of Long-Term Debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Revolving Loan Facility | Revolving Loan Facility | CMLP | CMLP | Crestwood Midstream 2020 senior unsecured notes | Crestwood Midstream 2020 senior unsecured notes | CMM Credit Facility | CMM Credit Facility | Credit Agreement | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Senior Notes, 2022 | Senior Notes, 2022 | ||
Revolving Loan Facility | Revolving Loan Facility | Revolving Credit Facility | Revolving Credit Facility | Crestwood Midstream 2019 senior unsecured notes | Crestwood Midstream 2019 senior unsecured notes | |||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Ebitda To Consolidated Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.93 | 3.56 | ' | ' | ' | ' |
Credit agreement outstanding carrying value | ' | ' | $381 | $0 | $0 | $206.70 | ' | ' | $0 | $127 | ' | ' | $414.90 | $0 | ' | ' |
Carrying Amount | 11.4 | 0 | ' | ' | 350 | 350 | 500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligations under noncompetition agreements and notes to former owners of businesses acquired | 2.8 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premium on senior notes | ' | ' | ' | ' | 1.2 | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities, Fair Value Adjustment | ' | ' | ' | ' | ' | ' | 4.7 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | 2,266 | 685.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600 | 0 |
Current portion of long-term debt (Note 7) | 5.1 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt | $2,260.90 | $685.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Narrative_Detail
Debt (Narrative) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 07, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 20, 2013 | Dec. 31, 2013 | Apr. 13, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 08, 2012 | Apr. 02, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 07, 2013 | Oct. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Financial Guarantee [Member] | Credit Agreement | Interest Rate Swap, Maturing 2016 | Minimum | Revolving Loan Facility | Revolving Loan Facility | Revolving Loan Facility | Revolving Loan Facility | Revolving Loan Facility | Crestwood Midstream 2020 senior unsecured notes | CMLP | CMLP | Crestwood Midstream 2019 senior unsecured notes | Crestwood Midstream 2019 senior unsecured notes | Crestwood Midstream 2019 senior unsecured notes | Crestwood Midstream 2019 senior unsecured notes | Crestwood Midstream 2019 senior unsecured notes | Revolving Loan Facility | Revolving Loan Facility | Revolving Loan Facility | Revolving Loan Facility | Revolving Loan Facility | Crestwood Midstream 2020 senior unsecured notes | Crestwood Midstream 2020 senior unsecured notes | Crestwood Midstream 2020 senior unsecured notes | Crestwood Midstream 2020 senior unsecured notes | Senior Notes, 2022 | Senior Notes, 2022 | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | CEQP Credit Facility | CEQP Credit Facility | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | Alternate Base Rate | Alternate Base Rate | Federal Funds Rate | Adjusted London Interbank Offered Rate | London Interbank Offered Rate | London Interbank Offered Rate | London Interbank Offered Rate | London Interbank Offered Rate | ||||
swap | Credit Agreement | Amended and Restated | Amended and Restated | Amended and Restated | Minimum | Maximum | Crestwood Midstream Partners LP and Crestwood Midstream Finance Corp [Member] | CMLP | CMLP | CMLP Senior Notes | CMLP Senior Notes | CMLP | CMM Credit Facility | CMM Credit Facility | CMLP | CMLP | Crestwood Midstream 2019 senior unsecured notes | Crestwood Midstream 2019 senior unsecured notes | Line of Credit, Excluding Bridge Loans | Line of Credit, Excluding Bridge Loans | Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Swing Line Loans | Standby Letters of Credit | Line of Credit, Excluding Bridge Loans | Line of Credit, Excluding Bridge Loans | Minimum | Maximum | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | CEQP Credit Facility | CEQP Credit Facility | |||||||||||||||
London Interbank Offered Rate | London Interbank Offered Rate | Subsequent Event | Subsequent Event | Minimum | Maximum | Minimum | Maximum | Minimum | Maximum | Swing Line Loans | Swing Line Loans | Line of Credit, Excluding Bridge Loans | Line of Credit, Excluding Bridge Loans | Line of Credit, Excluding Bridge Loans | Line of Credit, Excluding Bridge Loans | Line of Credit, Excluding Bridge Loans | Line of Credit, Excluding Bridge Loans | ||||||||||||||||||||||||||||||||||||
Minimum | Maximum | Minimum | Maximum | Minimum | Maximum | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | ' | ' | ' | $497,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Leverage Ratio Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Leverage Ratio, Maximum, Post Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Coverage Ratio Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement outstanding carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 550,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 1.75% | 0.50% | 1.00% | 1.75% | 2.75% | 1.75% | 3.00% |
Line of Credit Facility, Covenant Terms, Unapplied Cash from Asset Disposition, Percent Over Threshold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Covenant Terms, Unapplied Cash from Asset Disposition, Threshold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.30% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate, Contingent Margin | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 1.75% | ' | ' | ' | ' | ' | ' | 0.75% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement outstanding carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 206,700,000 | ' | ' | ' | ' | ' | 381,000,000 | 0 | 623,600,000 | 0 | 127,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 414,900,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.67% | 4.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Agreement amount available | ' | ' | ' | ' | 116,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding | ' | ' | ' | ' | 52,700,000 | ' | ' | ' | ' | ' | ' | ' | 30,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unused Borrowing Capacity, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 554,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Funded Debt to Consolidated Ebitda | ' | ' | ' | ' | ' | ' | 5.75 | 4.75 | 5.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Funded Debt to Consolidated Ebitda, Temporary | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Ebitda To Consolidated Interest Expense | ' | ' | ' | ' | 8.93 | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.56 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Interest Rate Derivatives Held | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Secured Funded Debt To Consolidated Ebitda As Defined In Credit Agreement | ' | ' | ' | ' | 4.22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed rate, range low end | ' | ' | ' | ' | ' | 0.84% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed rate, range high end | ' | ' | ' | ' | ' | 2.52% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate notional amount, cash flow hedges | ' | ' | ' | ' | ' | 225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Income (Expense), Net | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying Amount | 11,400,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | 350,000,000 | 600,000,000 | 351,200,000 | 351,500,000 | 150,000,000 | 200,000,000 | ' | ' | ' | ' | ' | 500,000,000 | ' | 504,700,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Expiration Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | ' | 6.00% | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.13% | ' | ' | ' | 7.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,700,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | 2,266,000,000 | 685,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Imputed Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.75% | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Maturities_of_Long_Term_D
Debt (Maturities of Long Term Debt) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $5.10 |
2015 | 1 |
2016 | 379.2 |
2017 | 0.2 |
2018 | 422.3 |
Thereafter | 1,452.30 |
Total debt | $2,260.10 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal | $2.50 | $0 | $0 |
State | 1.3 | 1.2 | 1.3 |
Total current | 3.8 | 1.2 | 1.3 |
Deferred Income Tax Expense (Benefit) [Abstract] | ' | ' | ' |
Federal | -2.5 | 0 | 0 |
State | -0.3 | 0 | 0 |
Deferred income taxes | -2.8 | 0 | 0 |
Provision for income taxes | 1 | 1.2 | 1.3 |
Deferred tax liabilities: | ' | ' | ' |
Basis difference in stock of acquired company | -17.2 | ' | ' |
Total deferred tax liability | ($17.20) | ' | ' |
Partners_Capital_Schedule_of_I
Partners' Capital (Schedule of Issuance of Units) (Details) (Unit Distribution, USD $) | 0 Months Ended | ||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Oct. 24, 2013 | Sep. 13, 2013 | Mar. 22, 2013 | Jul. 25, 2012 | Jan. 13, 2012 | 4-May-11 | Apr. 02, 2011 | Oct. 30, 2013 | Oct. 23, 2013 | Oct. 07, 2013 | Apr. 30, 2013 | Aug. 31, 2012 | |||||||
Unit Distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Distribution Made to Member or Limited Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Units | ' | 11,773,191 | [1] | 5,175,000 | [2] | 4,600,000 | [3] | 3,500,000 | 1,800,000 | 6,243,000 | [4] | 2,100,000 | 16,100,000 | [5] | 773,191 | 675,000 | 600,000 | ||
Per Unit Gross Price | ' | 22.5 | 23.9 | 26 | 30.73 | 30.65 | 24.5 | ' | ' | ' | ' | ' | |||||||
Per Unit Net Price | ' | 21.69 | [6] | 23 | [6] | 24.97 | [6] | 29.5 | [6] | 29.75 | [6] | 0 | [6] | ' | 21.19 | [6] | ' | ' | ' |
Net Proceeds | $340.30 | $255.20 | $118.50 | $114.40 | $103.10 | $53.60 | $152.70 | ' | ' | ' | ' | ' | |||||||
[1] | Includes 773,191 units that were issued on October 7, 2013. | ||||||||||||||||||
[2] | Includes 675,000 units that were issued in April 2013. | ||||||||||||||||||
[3] | Includes 600,000 units that were issued in August 2012. | ||||||||||||||||||
[4] | Represents Class C units. | ||||||||||||||||||
[5] | Includes 2,100,000 units that were issued on October 30, 2013. | ||||||||||||||||||
[6] | Price is net of underwriting discounts. |
Partners_Capital_Narrative_Det
Partners' Capital (Narrative) (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
Oct. 26, 2013 | Feb. 29, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 08, 2013 | Dec. 31, 2013 | Jan. 08, 2013 | Dec. 31, 2013 | Jan. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 6-May-13 | Feb. 29, 2012 | Oct. 07, 2013 | Oct. 07, 2013 | Nov. 08, 2013 | Dec. 31, 2013 | Oct. 08, 2013 | Oct. 31, 2013 | Feb. 29, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Oct. 30, 2013 | Jan. 31, 2014 | Jul. 19, 2013 | Dec. 31, 2013 | Jul. 19, 2013 | Dec. 31, 2013 | Jan. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 24, 2013 | Dec. 31, 2013 | Oct. 07, 2013 | Oct. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Preferred Units, Class C | Preferred Units, Class D | Preferred Units, Class D | General Partner | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Crestwood Holdings | Crestwood Holdings | CMLP | CMLP | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | Legacy Crestwood Credit Facility | Cash distribution | Cash distribution | Cash distribution | Cash distribution | Subordinated Unit | Crestwood Holdings | Crestwood Holdings | Non-Controlling Partners | Non-Controlling Partners | Non-Controlling Partners | Non-Controlling Partners | Non-Controlling Partners | Limited Partners | Limited Partners | Limited Partners | Limited Partners | ||||||||
Subsequent Event | Preferred Units | Subsequent Event | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Subsequent Event | Limited Partners | Crestwood Equity Partners LP | Majority Shareholder | Arrow Midstream Holdings, LLC | Jackalope Gas Gathering Services, LLC | Arrow Midstream Holdings, LLC | ||||||||||||||||||||||||||||||||||||
Preferred Units | Preferred Units | Preferred Units | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Member or Limited Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution to limited partner, distribution date | 14-Nov-13 | ' | 14-Aug-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Equity Interest Issued or Issuable, Conversion Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution Made to Member or Limited Partner, Share Distribution | ' | ' | ' | ' | 633,084 | 473,731 | ' | 183,995 | 6,190,469 | 292,660 | 133,060 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,161,657 | 2,210,294 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Preferred Limited Partners Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,900,000 | $8,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Units, Sale of Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215,722 | 293,948 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Period For Distribution Of Available Cash | ' | ' | ' | '45 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Per unit rate, in dollars per unit | $0.14 | ' | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution, Distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,300,000 | 13,800,000 | 5,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34,900,000 | ' | ' | ' | 550,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Capital Distribution | ' | ' | ' | 68,400,000 | 13,800,000 | 5,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Cash Payments to Unitholders Upon Completion of Merger | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in unconsolidated affiliates in period | ' | 131,300,000 | ' | 151,500,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity method ownership percentage | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Voting Interests Acquired | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consideration Transferred | ' | ' | ' | ' | ' | ' | 258,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 129,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,826,125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Contingent Consideration, Potential Cash Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 72,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Contingent Consideration, at Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss on contingent consideration | ' | ' | ' | 31,400,000 | -6,800,000 | -17,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,800,000 | 17,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Previous Acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution from issuance of units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,600,000 | 15,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | ' | ' | ' | -57,300,000 | 9,500,000 | 34,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of Contributions to be Funded by Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funds from Capital Contributions, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of preferred equity of subsidiary, net | ' | ' | ' | -96,100,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96,100,000 | ' | ' | ' | ' |
Distribution declared per limited partner unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $179,600,000 | $77,700,000 | $58,100,000 | $0.14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution to limited partner, record date | 7-Nov-13 | ' | 7-Aug-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Units, Period Increase (Decrease) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,387,889 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Units, Cash Distribution Threshold, Quarterly Distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Units, Conversion Threshold, Cumulative Distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse Merger, Exchange Option, Shares Exchanged by Acquirer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse Merger, Exchange Option, Shares Issued by Acquiree | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Acquisitions | ' | ' | ' | $0 | $217,500,000 | $206,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($182,300,000) | $217,500,000 | $206,300,000 | $200,000,000 | ' | $182,300,000 | $0 | $0 | $0 |
Partners_Capital_Schedule_of_P
Partners' Capital (Schedule of Partnership Distributions) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Oct. 26, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 24, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash distribution | Cash distribution | Cash distribution | Cash distribution | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | ||||
Subsequent Event | ||||||||||
Disclosure Partners Capital Summary Of Quarterly Distributions Of Available Cash [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution to limited partner, record date | 7-Nov-13 | 7-Aug-13 | ' | ' | ' | ' | 7-Feb-14 | ' | ' | ' |
Distribution to limited partner, distribution date | 14-Nov-13 | 14-Aug-13 | ' | ' | ' | ' | 14-Feb-14 | ' | ' | ' |
Per unit rate | $0.14 | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution amount | $25 | $22.30 | $47.30 | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution, Distribution | ' | ' | ' | ' | ' | ' | ' | $9.30 | $13.80 | $5.90 |
Distribution declared per limited partner unit | ' | ' | ' | $179,600,000 | $77,700,000 | $58,100,000 | $0.14 | ' | ' | ' |
Equity_Plan_Details
Equity Plan (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Units reserved for issuance | 100,000 | ' | ' |
Employer match, percent of deferrals | 10.00% | ' | ' |
Employee deferrals, percent of salary | 10.00% | ' | ' |
Unit purchase plan, required holding period | '1 year | ' | ' |
Units purchased under plan | 10,968 | ' | ' |
Compensation expense | $17.40 | $1.90 | $0.90 |
Common units to satisfy employee tax withholding obligations | 21,014 | 1,405 | ' |
Phantom and Restricted Units | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation expense | 6.5 | 1.9 | 0.9 |
Grants of units, estimated grant date fair value | $4.60 | $4.70 | $0.80 |
Equity_Plan_Schedule_of_Phanto
Equity Plan (Schedule of Phantom and Restricted Unit Activity) (Details) (USD $) | 6 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
Restricted units | Restricted units | Payable In Cash | Payable In Cash | Payable In Cash | Payable In Cash | Payable In Cash | Payable In Cash | Payable In Cash | Payable In Units | Payable In Units | Payable In Units | Payable In Units | Payable In Units | Payable In Units | Payable In Units | CMLP | CMLP | |
Phantom and Restricted Units | Phantom and Restricted Units | Phantom and Restricted Units | Phantom Unit | Phantom Unit | Restricted units | Restricted units | Phantom and Restricted Units | Phantom and Restricted Units | Phantom and Restricted Units | Phantom Unit | Phantom Unit | Restricted units | Restricted units | Restricted units | Restricted units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $1.60 | $1.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.80 | $1.80 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unvested units - December 31, units | ' | ' | 0 | 8,312 | 13,346 | ' | ' | ' | ' | 0 | 221,992 | 128,795 | ' | ' | ' | ' | ' | ' |
Unvested units - December 31 | ' | ' | $0 | $26.45 | $26.40 | ' | ' | ' | ' | $0 | $28.35 | $27.22 | ' | ' | ' | ' | ' | ' |
Vested, units | 670,658 | ' | ' | ' | ' | 7,958 | 4,267 | 0 | 0 | ' | ' | ' | 329,825 | 40,929 | 74,760 | 4,682 | 230,384 | ' |
Vested | $13.96 | ' | ' | ' | ' | $26.48 | $26.46 | $0 | $0 | ' | ' | ' | $26.69 | $27.21 | $25.60 | $27.53 | $22.16 | ' |
Granted, units | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | ' | ' | ' | 161,807 | 126,246 | 27,900 | 37,500 | ' | ' |
Granted | ' | ' | ' | ' | ' | $0 | $0 | $0 | $0 | ' | ' | ' | $24.33 | $29.90 | $24.86 | $25.67 | ' | ' |
Canceled, units | ' | ' | ' | ' | ' | 354 | 767 | ' | ' | ' | ' | ' | 7,114 | 24,938 | ' | ' | ' | ' |
Canceled | ' | ' | ' | ' | ' | $25.81 | $25.63 | ' | ' | ' | ' | ' | $27.96 | $28.30 | ' | ' | ' | ' |
Unvested units - December 31, units | 446,581 | 446,581 | 0 | 8,312 | 13,346 | ' | ' | ' | ' | 0 | 221,992 | 128,795 | ' | ' | ' | ' | 195,250 | 195,250 |
Unvested units - December 31 | $13.96 | $13.96 | $0 | $26.45 | $26.40 | ' | ' | ' | ' | $0 | $28.35 | $27.22 | ' | ' | ' | ' | $22.16 | $22.16 |
Allocated Share-based Compensation Expense | ' | $5.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.90 |
Employee_Benefit_Plan_Details
Employee Benefit Plan (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
H | |
Postemployment Benefits [Abstract] | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent | 75.00% |
Defined Benefit Plan, Employee Contributions, Statutory Maximum Per Employee | $17,500 |
Defined Contribution Plan, Requisite Service Period | '1 year |
Defined Contribution Plan, Required Service Hours | 1,000 |
Defined Benefit Plan, Contributions by Employer | $500,000 |
Asset_Retirement_Obligations_D
Asset Retirement Obligations (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' |
Net asset retirement obligation at January 1 | $14 | $11.50 |
Liabilities incurred | 0 | 0.4 |
Acquisitions | 0 | 1.4 |
Accretion expense | 0.8 | 0.7 |
Changes in estimate | 0.3 | 0 |
Net asset retirement obligation at December 31 | $15.10 | $14 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Mar. 26, 2012 | Sep. 23, 2011 | Jun. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Lease_Extensions | Antero | Antero | Marc I Pipeline | Marc I Pipeline | Class Action Challenging Crestwood Merger | Class Action Challenging Crestwood Merger - Federal | Watkins Glen Ngl Development Project | Identified Growth Projects | Other Growth and Maintenance Contractual Purchase Obligations | Commodity | |||
Anadarko | Anadarko | Lawsuit | Lawsuit | bbl | |||||||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Lease Obligations, Noncurrent | $4,700,000 | $7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Firm Purchase Commitments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,600,000 | 47,700,000 | 234,100,000 |
Storage capacity barrels | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' |
Number of putative class action lawsuits | ' | ' | ' | ' | ' | ' | ' | 5 | 4 | ' | ' | ' | ' |
Counterparty Option To Purchase Maximum Ownership Interest | ' | ' | ' | ' | ' | 25.00% | 25.00% | ' | ' | ' | ' | ' | ' |
Loss Contingency Accrual, at Carrying Value | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Self-insurance reserves | 15,800,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Self-insurance reserve expected to be paid in next fiscal year | 10,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Contingent Consideration, Potential Cash Payment | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on contingent consideration (Note 15) | -31,400,000 | 6,800,000 | 17,200,000 | -31,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Lease Extension Renewals | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense, Net | 16,400,000 | 7,400,000 | 7,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Leases, Income Statement, Amortization Expense | $3,600,000 | $3,100,000 | $1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Lease, Extension Period | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Future Minimum Lease Payments under Noncancelable Operatng Leases) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $18.20 |
2015 | 17.4 |
2016 | 17.1 |
2017 | 15.8 |
2018 | 14.3 |
Thereafter | 247.5 |
Operating Leases, Future Minimum Payments Due | $330.30 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Schedule of Future Minimum Lease Payments Related to Capital Leases) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $2.60 |
2015 | 1.3 |
2016 | 0.6 |
2017 | 0.3 |
2018 | 0 |
Thereafter | 0 |
Total payments | 4.8 |
Imputed interest | 0.1 |
Present value of future payments | $4.70 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 07, 2013 | Oct. 07, 2013 |
Affiliated Entity | Affiliated Entity | Crestwood Equity Partners LP | Crestwood Holdings | Crestwood Equity Partners LP | ||||
Majority Shareholder | Crestwood Holdings | |||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Gathering and processing revenues | $74.90 | $113.70 | $131.20 | $74.90 | $113.70 | $131.20 | ' | ' |
Gathering and processing costs of goods sold | ' | ' | ' | 32.5 | 15.2 | 0 | ' | ' |
Operating and administrative expenses | ' | ' | ' | 25.3 | 19.5 | 17.9 | ' | ' |
Related Party Transaction, Due from (to) Related Party [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | 0 | 23.8 | ' | ' | ' |
Accounts payable | ' | ' | ' | $3.60 | $3.10 | ' | ' | ' |
Reverse Merger, Exchange Option, Shares Exchanged by Acquirer | ' | ' | ' | ' | ' | ' | 7,100,000 | ' |
Reverse Merger, Exchange Option, Shares Issued by Acquiree | ' | ' | ' | ' | ' | ' | ' | 14,300,000 |
Segments_Narrative_Details
Segments (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
segment | |
Segment Reporting [Abstract] | ' |
Number of operating segments | 3 |
Segments_Reconciliation_of_Net
Segments (Reconciliation of Net Income (Loss) to EBITDA) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($42.10) | ($7.90) | ($4.50) | $3.90 | $2.50 | $9.10 | $8.30 | $4.50 | ($50.60) | $24.40 | $42.10 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 77.9 | 35.8 | 27.6 |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1.2 | 1.3 |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 167.9 | 73.2 | 53.9 |
EBITA | ' | ' | ' | ' | ' | ' | ' | ' | $196.20 | $134.60 | $124.90 |
Segments_Summary_Of_Segment_In
Segments (Summary Of Segment Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 19, 2013 | ||
Operating revenues | $808.20 | $427.20 | $118.90 | $72.40 | $67.50 | $63 | $55.20 | $53.80 | $1,426.70 | $239.50 | $205.80 | ' | ||
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | 1,002.30 | -39 | -38.8 | ' | ||
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 198.1 | -72.7 | -60.4 | ' | ||
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | -4.1 | 0 | 0 | ' | ||
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | 0 | 0 | ' | ||
Gain (loss) on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 31.4 | -6.8 | -17.2 | ' | ||
Gain (loss) on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 5.3 | 0 | 1.1 | ' | ||
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | 0 | 0 | ' | ||
EBITA | ' | ' | ' | ' | ' | ' | ' | ' | 196.2 | 134.6 | 124.9 | ' | ||
Goodwill | 2,552.20 | 2,564.40 | [1] | ' | ' | 352.2 | ' | ' | ' | 2,552.20 | 352.2 | 348.1 | 2,149.90 | [2] |
Assets | 8,523.20 | ' | ' | ' | 2,301.60 | ' | ' | ' | 8,523.20 | 2,301.60 | 1,739.20 | ' | ||
Payments to Acquire Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | 347 | 52.6 | 48.4 | ' | ||
Gathering and Processing Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 291.2 | 239.5 | 205.8 | ' | ||
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | 56.6 | -39 | -38.8 | ' | ||
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 54.9 | -43.1 | -36.3 | ' | ||
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | -4.1 | ' | ' | ' | ||
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ||
Gain (loss) on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 31.4 | -6.8 | -17.2 | ' | ||
Gain (loss) on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 5.4 | ' | 1.1 | ' | ||
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | ' | ' | ' | ||
EBITA | ' | ' | ' | ' | ' | ' | ' | ' | 149.7 | 164.2 | 149 | ' | ||
Goodwill | 356.8 | ' | ' | ' | 352.2 | ' | ' | ' | 356.8 | 352.2 | 348.1 | ' | ||
Assets | 2,507.30 | ' | ' | ' | 2,278.90 | ' | ' | ' | 2,507.30 | 2,278.90 | 1,720.90 | ' | ||
Payments to Acquire Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | 271.2 | 51.5 | 47.8 | ' | ||
Crude Oil and NGL | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,031.30 | 0 | 0 | ' | ||
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | 930 | 0 | 0 | ' | ||
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 37.6 | 0 | 0 | ' | ||
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ||
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ||
Gain (loss) on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ||
Gain (loss) on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | 0 | ' | ||
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | ' | ' | ' | ||
EBITA | ' | ' | ' | ' | ' | ' | ' | ' | 63.4 | 0 | 0 | ' | ||
Goodwill | 1,258.90 | ' | ' | ' | 0 | ' | ' | ' | 1,258.90 | 0 | 0 | ' | ||
Assets | 3,465.80 | ' | ' | ' | 0 | ' | ' | ' | 3,465.80 | 0 | 0 | ' | ||
Payments to Acquire Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | 56.8 | 0 | 0 | ' | ||
Storage and Transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 104.2 | 0 | 0 | ' | ||
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | 15.7 | 0 | 0 | ' | ||
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 12.1 | 0 | 0 | ' | ||
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ||
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ||
Gain (loss) on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ||
Gain (loss) on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' | ||
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ||
EBITA | ' | ' | ' | ' | ' | ' | ' | ' | 76.4 | 0 | 0 | ' | ||
Goodwill | 936.5 | ' | ' | ' | 0 | ' | ' | ' | 936.5 | 0 | 0 | ' | ||
Assets | 2,369.10 | ' | ' | ' | 0 | ' | ' | ' | 2,369.10 | 0 | 0 | ' | ||
Payments to Acquire Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 0 | 0 | ' | ||
Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ||
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ||
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 93.5 | -29.6 | -24.1 | ' | ||
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ||
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | ' | ' | ' | ||
Gain (loss) on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ||
Gain (loss) on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' | ||
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ||
EBITA | ' | ' | ' | ' | ' | ' | ' | ' | -93.3 | -29.6 | -24.1 | ' | ||
Goodwill | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | ' | ||
Assets | 181 | ' | ' | ' | 22.7 | ' | ' | ' | 181 | 22.7 | 18.3 | ' | ||
Payments to Acquire Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | $1 | $1.10 | $0.60 | ' | ||
[1] | Preliminary estimate recorded as of September 30, 2013. | |||||||||||||
[2] | See Note 4 for additional information related to the December 31, 2013 estimate of the fair values of the assets acquired and liabilities assumed at June 19, 2013, the date of the merger. |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $5.20 | $0.10 | $0.80 | $0 |
Accounts receivable | 412.6 | 45.4 | ' | ' |
Inventory | 73.6 | 0 | ' | ' |
Total current assets | 522 | 50.4 | ' | ' |
Property, plant and equipment, net | 3,905.30 | 1,102.40 | ' | ' |
Other assets | 31.9 | 1.3 | ' | ' |
Total assets | 8,523.20 | 2,301.60 | 1,739.20 | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 379 | 5.4 | ' | ' |
Total current liabilities | 596.1 | 48.5 | ' | ' |
Long-term liabilities: | ' | ' | ' | ' |
Long-term debt, less current portion (Note 7) | 2,260.90 | 685.2 | ' | ' |
Other long-term liabilities | 140.4 | 17.2 | ' | ' |
Total partners’ capital | 5,508.60 | 1,550.70 | 1,120 | 926 |
Total liabilities and partners’ capital | 8,523.20 | 2,301.60 | ' | ' |
Parent Company | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0.1 | 0 | ' | ' |
Accounts receivable | 0 | ' | ' | ' |
Inventory | 0 | ' | ' | ' |
Other | 0 | ' | ' | ' |
Total current assets | 0.1 | ' | ' | ' |
Property, plant and equipment, net | 0 | ' | ' | ' |
Goodwill and intangible assets, net | 0 | ' | ' | ' |
Investment in subsidiary | 5,927.10 | ' | ' | ' |
Other assets | 0 | ' | ' | ' |
Total assets | 5,927.20 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 0 | ' | ' | ' |
Other current liabilities | 4.2 | ' | ' | ' |
Total current liabilities | 4.2 | ' | ' | ' |
Long-term liabilities: | ' | ' | ' | ' |
Long-term debt, less current portion (Note 7) | 393 | ' | ' | ' |
Other long-term liabilities | 21.4 | ' | ' | ' |
Total long-term liabilities | 414.4 | ' | ' | ' |
Partners' capital | 831.6 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | 4,677 | ' | ' | ' |
Total partners’ capital | 5,508.60 | ' | ' | ' |
Total liabilities and partners’ capital | 5,927.20 | ' | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 2.4 | 0 | ' | ' |
Accounts receivable | 207.5 | ' | ' | ' |
Inventory | 66.6 | ' | ' | ' |
Other | 25.8 | ' | ' | ' |
Total current assets | 302.3 | ' | ' | ' |
Property, plant and equipment, net | 400.9 | ' | ' | ' |
Goodwill and intangible assets, net | 742.4 | ' | ' | ' |
Investment in subsidiary | 0 | ' | ' | ' |
Other assets | 10.2 | ' | ' | ' |
Total assets | 1,455.80 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 218.3 | ' | ' | ' |
Other current liabilities | 61.6 | ' | ' | ' |
Total current liabilities | 279.9 | ' | ' | ' |
Long-term liabilities: | ' | ' | ' | ' |
Long-term debt, less current portion (Note 7) | 0 | ' | ' | ' |
Other long-term liabilities | 109.9 | ' | ' | ' |
Total long-term liabilities | 109.9 | ' | ' | ' |
Partners' capital | 1,066 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | 0 | ' | ' | ' |
Total partners’ capital | 1,066 | ' | ' | ' |
Total liabilities and partners’ capital | 1,455.80 | ' | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 2.7 | 0.1 | ' | ' |
Accounts receivable | 205.1 | ' | ' | ' |
Inventory | 7 | ' | ' | ' |
Other | 10.2 | ' | ' | ' |
Total current assets | 225 | ' | ' | ' |
Property, plant and equipment, net | 3,504.40 | ' | ' | ' |
Goodwill and intangible assets, net | 3,170.20 | ' | ' | ' |
Investment in subsidiary | 0 | ' | ' | ' |
Other assets | 173.1 | ' | ' | ' |
Total assets | 7,072.70 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 160.7 | ' | ' | ' |
Other current liabilities | 156.7 | ' | ' | ' |
Total current liabilities | 317.4 | ' | ' | ' |
Long-term liabilities: | ' | ' | ' | ' |
Long-term debt, less current portion (Note 7) | 1,867.90 | ' | ' | ' |
Other long-term liabilities | 26.3 | ' | ' | ' |
Total long-term liabilities | 1,894.20 | ' | ' | ' |
Partners' capital | 184.1 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | 4,677 | ' | ' | ' |
Total partners’ capital | 4,861.10 | ' | ' | ' |
Total liabilities and partners’ capital | 7,072.70 | ' | ' | ' |
Consolidation, Eliminations | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Accounts receivable | 0 | ' | ' | ' |
Inventory | 0 | ' | ' | ' |
Other | -5.4 | ' | ' | ' |
Total current assets | -5.4 | ' | ' | ' |
Property, plant and equipment, net | 0 | ' | ' | ' |
Goodwill and intangible assets, net | 0 | ' | ' | ' |
Investment in subsidiary | -5,927.10 | ' | ' | ' |
Other assets | 0 | ' | ' | ' |
Total assets | -5,932.50 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 0 | ' | ' | ' |
Other current liabilities | -5.4 | ' | ' | ' |
Total current liabilities | -5.4 | ' | ' | ' |
Long-term liabilities: | ' | ' | ' | ' |
Long-term debt, less current portion (Note 7) | 0 | ' | ' | ' |
Other long-term liabilities | 0 | ' | ' | ' |
Total long-term liabilities | 0 | ' | ' | ' |
Partners' capital | -1,250.10 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | -4,677 | ' | ' | ' |
Total partners’ capital | -5,927.10 | ' | ' | ' |
Total liabilities and partners’ capital | -5,932.50 | ' | ' | ' |
Consolidated Entities | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 5.2 | 0.1 | ' | ' |
Accounts receivable | 412.6 | ' | ' | ' |
Inventory | 73.6 | ' | ' | ' |
Other | 30.6 | ' | ' | ' |
Total current assets | 522 | ' | ' | ' |
Property, plant and equipment, net | 3,905.30 | ' | ' | ' |
Goodwill and intangible assets, net | 3,912.60 | ' | ' | ' |
Investment in subsidiary | 0 | ' | ' | ' |
Other assets | 183.3 | ' | ' | ' |
Total assets | 8,523.20 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 379 | ' | ' | ' |
Other current liabilities | 217.1 | ' | ' | ' |
Total current liabilities | 596.1 | ' | ' | ' |
Long-term liabilities: | ' | ' | ' | ' |
Long-term debt, less current portion (Note 7) | 2,260.90 | ' | ' | ' |
Other long-term liabilities | 157.6 | ' | ' | ' |
Total long-term liabilities | 2,418.50 | ' | ' | ' |
Partners' capital | 831.6 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | 4,677 | ' | ' | ' |
Total partners’ capital | 5,508.60 | ' | ' | ' |
Total liabilities and partners’ capital | $8,523.20 | ' | ' | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Condensed Consolidating Statements Of Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | $1,031.30 | $0 | $0 | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 216.3 | 125.8 | 74.6 | |
Gathering and processing revenues | ' | ' | ' | ' | ' | ' | ' | ' | 74.9 | 113.7 | 131.2 | |
Total revenue | 808.2 | 427.2 | 118.9 | 72.4 | 67.5 | 63 | 55.2 | 53.8 | 1,426.70 | 239.5 | 205.8 | |
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 24.1 | 23.8 | 38.8 | |
Related party (Note 16) | ' | ' | ' | ' | ' | ' | ' | ' | 32.5 | 15.2 | 0 | |
Cost of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | 1,002.30 | 39 | 38.8 | |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.3 | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 167.9 | 73.2 | 53.9 | |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 366 | 145.9 | 114.3 | |
Operating income | -11.1 | [1] | 15.8 | 7.8 | 15.7 | 13.2 | 18.3 | 17.5 | 12.4 | 28.2 | 61.4 | 71 |
Gain (loss) on contingent consideration (Note 15) | ' | ' | ' | ' | ' | ' | ' | ' | -31.4 | 6.8 | 17.2 | |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -77.9 | -35.8 | -27.6 | |
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | 0 | 0 | |
Loss from unconsolidated affiliates | 0.3 | -0.4 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -49.6 | 25.6 | 43.4 | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1.2 | 1.3 | |
Net income (loss) | -42.1 | -7.9 | -4.5 | 3.9 | 2.5 | 9.1 | 8.3 | 4.5 | -50.6 | 24.4 | 42.1 | |
Net income attributable to non-controlling partners in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 57.3 | -9.5 | -34.4 | |
Net income attributable to Crestwood Equity Partners LP | 8.3 | -8.3 | 1.6 | 5.1 | 2.2 | 6 | 3.4 | 3.3 | 6.7 | 14.9 | 7.7 | |
Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Related party (Note 16) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Cost of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gain (loss) on contingent consideration (Note 15) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other Cost and Expense, Operating | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -6.5 | ' | ' | |
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Loss from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -43.9 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -50.4 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50.6 | ' | ' | |
Net income attributable to non-controlling partners in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income attributable to Crestwood Equity Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | -50.6 | ' | ' | |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | 761.2 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 14.1 | ' | ' | |
Gathering and processing revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 775.3 | ' | ' | |
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 699.6 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | |
Related party (Note 16) | ' | ' | ' | ' | ' | ' | ' | ' | 7.2 | ' | ' | |
Cost of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | 713.8 | ' | ' | |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 41.3 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 26 | ' | ' | |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 67.3 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -5.9 | ' | ' | |
Gain (loss) on contingent consideration (Note 15) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other Cost and Expense, Operating | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' | |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | ' | ' | |
Loss from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -5.7 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -5.8 | ' | ' | |
Net income attributable to non-controlling partners in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income attributable to Crestwood Equity Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | -5.8 | ' | ' | |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 216.3 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | 270.1 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 90.1 | ' | ' | |
Gathering and processing revenues | ' | ' | ' | ' | ' | ' | ' | ' | 82.1 | ' | ' | |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 658.6 | ' | ' | |
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 24.1 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 230.4 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 8.7 | ' | ' | |
Related party (Note 16) | ' | ' | ' | ' | ' | ' | ' | ' | 32.5 | ' | ' | |
Cost of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | 295.7 | ' | ' | |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 156.8 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 141.9 | ' | ' | |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 298.7 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 34.1 | ' | ' | |
Gain (loss) on contingent consideration (Note 15) | ' | ' | ' | ' | ' | ' | ' | ' | -31.4 | ' | ' | |
Other Cost and Expense, Operating | ' | ' | ' | ' | ' | ' | ' | ' | 1.3 | ' | ' | |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -71.4 | ' | ' | |
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' | |
Loss from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -37.4 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -38.1 | ' | ' | |
Net income attributable to non-controlling partners in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 57.3 | ' | ' | |
Net income attributable to Crestwood Equity Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | 19.2 | ' | ' | |
Consolidation, Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing revenues | ' | ' | ' | ' | ' | ' | ' | ' | -7.2 | ' | ' | |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | -7.2 | ' | ' | |
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Related party (Note 16) | ' | ' | ' | ' | ' | ' | ' | ' | -7.2 | ' | ' | |
Cost of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | -7.2 | ' | ' | |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gain (loss) on contingent consideration (Note 15) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other Cost and Expense, Operating | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Loss from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 43.9 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 43.9 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 43.9 | ' | ' | |
Net income attributable to non-controlling partners in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income attributable to Crestwood Equity Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | 43.9 | ' | ' | |
Consolidated Entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 216.3 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | 1,031.30 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 104.2 | ' | ' | |
Gathering and processing revenues | ' | ' | ' | ' | ' | ' | ' | ' | 74.9 | ' | ' | |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,426.70 | ' | ' | |
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 24.1 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | 930 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 15.7 | ' | ' | |
Related party (Note 16) | ' | ' | ' | ' | ' | ' | ' | ' | 32.5 | ' | ' | |
Cost of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | 1,002.30 | ' | ' | |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 198.1 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 167.9 | ' | ' | |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 366 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 28.2 | ' | ' | |
Gain (loss) on contingent consideration (Note 15) | ' | ' | ' | ' | ' | ' | ' | ' | -31.4 | ' | ' | |
Other Cost and Expense, Operating | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | ' | ' | |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -77.9 | ' | ' | |
Loss from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | ' | ' | |
Loss from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -49.6 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50.6 | ' | ' | |
Net income attributable to non-controlling partners in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 57.3 | ' | ' | |
Net income attributable to Crestwood Equity Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | $6.70 | ' | ' | |
[1] | The accumulation of basic and diluted net income (loss) per limited partner unit does not total the amount for the year due to changes in ownership percentages throughout the year. |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information (Condensed Consolidating Statements of Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($42.10) | ($7.90) | ($4.50) | $3.90 | $2.50 | $9.10 | $8.30 | $4.50 | ($50.60) | $24.40 | $42.10 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50.7 | 24.4 | 42.1 |
Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50.6 | ' | ' |
Change in unrealized fair value on cash flow hedges (Note 2) | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50.7 | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -5.8 | ' | ' |
Change in unrealized fair value on cash flow hedges (Note 2) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -5.8 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -38.1 | ' | ' |
Change in unrealized fair value on cash flow hedges (Note 2) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -38.1 | ' | ' |
Consolidation, Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 43.9 | ' | ' |
Change in unrealized fair value on cash flow hedges (Note 2) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 43.9 | ' | ' |
Consolidated Entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50.6 | ' | ' |
Change in unrealized fair value on cash flow hedges (Note 2) | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($50.70) | ' | ' |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Information (Condensed Consolidating Statements Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | $188.30 | $102.10 | $86.30 |
Cash flows from investing activities: | ' | ' | ' |
Acquisitions, net of cash acquired | -555.6 | -564 | -414.1 |
Purchases of property, plant and equipment | -347 | -52.6 | -48.4 |
Investment in unconsolidated affiliates | -151.5 | 0 | 0 |
Proceeds from sale of assets | 11.2 | 0 | 6 |
Net cash used in investing activities | -1,042.90 | -616.6 | -456.5 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from the issuance of long-term debt | 394.1 | 0 | 0 |
Principal payments on long-term debt | -333.3 | 0 | 0 |
Distributions to partners | -68.4 | -13.8 | -5.9 |
Distributions paid to non-controlling partners | -204.5 | -89.7 | -58.1 |
Net proceeds from the issuance of common units | 714 | 217.5 | 53.6 |
Proceeds from issuance of preferred equity of subsidiary, net | -96.1 | 0 | 0 |
Net cash provided by financing activities | 859.7 | 513.8 | 371 |
Net increase (decrease) in cash | 5.1 | -0.7 | 0.8 |
Cash at beginning of period | 0.1 | 0.8 | 0 |
Cash at end of period | 5.2 | 0.1 | 0.8 |
Parent Company | ' | ' | ' |
Cash flows from operating activities | 0 | ' | ' |
Cash flows from investing activities: | ' | ' | ' |
Acquisitions, net of cash acquired | 0 | ' | ' |
Purchases of property, plant and equipment | 0 | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' |
Proceeds from sale of assets | 76 | ' | ' |
Net cash used in investing activities | 76 | ' | ' |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from the issuance of long-term debt | 0 | ' | ' |
Principal payments on long-term debt | 0 | ' | ' |
Distributions to partners | -76 | ' | ' |
Distributions paid to non-controlling partners | 0 | ' | ' |
Proceeds from Limited Partnership Investments | 0 | ' | ' |
Net proceeds from the issuance of common units | 0 | ' | ' |
Proceeds from issuance of preferred equity of subsidiary, net | 0 | ' | ' |
Other | 0.1 | ' | ' |
Net cash provided by financing activities | -75.9 | ' | ' |
Net increase (decrease) in cash | 0.1 | ' | ' |
Cash at beginning of period | 0 | ' | ' |
Cash at end of period | 0.1 | ' | ' |
Guarantor Subsidiaries | ' | ' | ' |
Cash flows from operating activities | 1.8 | ' | ' |
Cash flows from investing activities: | ' | ' | ' |
Acquisitions, net of cash acquired | 5.9 | ' | ' |
Purchases of property, plant and equipment | -12.4 | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' |
Proceeds from sale of assets | 17 | ' | ' |
Net cash used in investing activities | 10.5 | ' | ' |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from the issuance of long-term debt | 394.1 | ' | ' |
Principal payments on long-term debt | -333.3 | ' | ' |
Distributions to partners | -59.1 | ' | ' |
Distributions paid to non-controlling partners | 0 | ' | ' |
Net proceeds from the issuance of common units | 0 | ' | ' |
Proceeds from issuance of preferred equity of subsidiary, net | 0 | ' | ' |
Other | -11.6 | ' | ' |
Net cash provided by financing activities | -9.9 | ' | ' |
Net increase (decrease) in cash | 2.4 | ' | ' |
Cash at beginning of period | 0 | ' | ' |
Cash at end of period | 2.4 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' |
Cash flows from operating activities | 186.5 | ' | ' |
Cash flows from investing activities: | ' | ' | ' |
Acquisitions, net of cash acquired | -561.5 | ' | ' |
Purchases of property, plant and equipment | -334.6 | ' | ' |
Investment in unconsolidated affiliates | -151.5 | ' | ' |
Proceeds from sale of assets | 11.1 | ' | ' |
Net cash used in investing activities | -1,036.50 | ' | ' |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from the issuance of long-term debt | 2,072.80 | ' | ' |
Principal payments on long-term debt | -1,634.30 | ' | ' |
Distributions to partners | -155.2 | ' | ' |
Distributions paid to non-controlling partners | -204.5 | ' | ' |
Net proceeds from the issuance of common units | 714 | ' | ' |
Proceeds from issuance of preferred equity of subsidiary, net | 96.1 | ' | ' |
Other | -36.3 | ' | ' |
Net cash provided by financing activities | 852.6 | ' | ' |
Net increase (decrease) in cash | 2.6 | ' | ' |
Cash at beginning of period | 0.1 | ' | ' |
Cash at end of period | 2.7 | ' | ' |
Consolidation, Eliminations | ' | ' | ' |
Cash flows from operating activities | 0 | ' | ' |
Cash flows from investing activities: | ' | ' | ' |
Acquisitions, net of cash acquired | 0 | ' | ' |
Purchases of property, plant and equipment | 0 | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' |
Proceeds from sale of assets | -92.9 | ' | ' |
Net cash used in investing activities | -92.9 | ' | ' |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from the issuance of long-term debt | 0 | ' | ' |
Principal payments on long-term debt | 0 | ' | ' |
Distributions to partners | 92.9 | ' | ' |
Distributions paid to non-controlling partners | 0 | ' | ' |
Net proceeds from the issuance of common units | 0 | ' | ' |
Proceeds from issuance of preferred equity of subsidiary, net | 0 | ' | ' |
Other | 0 | ' | ' |
Net cash provided by financing activities | 92.9 | ' | ' |
Net increase (decrease) in cash | 0 | ' | ' |
Cash at beginning of period | 0 | ' | ' |
Cash at end of period | 0 | ' | ' |
Consolidated Entities | ' | ' | ' |
Cash flows from operating activities | 188.3 | ' | ' |
Cash flows from investing activities: | ' | ' | ' |
Acquisitions, net of cash acquired | -555.6 | ' | ' |
Purchases of property, plant and equipment | -347 | ' | ' |
Investment in unconsolidated affiliates | -151.5 | ' | ' |
Proceeds from sale of assets | 11.2 | ' | ' |
Net cash used in investing activities | -1,042.90 | ' | ' |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from the issuance of long-term debt | 2,466.90 | ' | ' |
Principal payments on long-term debt | -1,967.60 | ' | ' |
Distributions to partners | -197.4 | ' | ' |
Distributions paid to non-controlling partners | -204.5 | ' | ' |
Net proceeds from the issuance of common units | 714 | ' | ' |
Proceeds from issuance of preferred equity of subsidiary, net | 96.1 | ' | ' |
Other | -47.8 | ' | ' |
Net cash provided by financing activities | 859.7 | ' | ' |
Net increase (decrease) in cash | 5.1 | ' | ' |
Cash at beginning of period | 0.1 | ' | ' |
Cash at end of period | $5.20 | ' | ' |
Quarterly_Financial_Data_Detai
Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||
Operating revenues | $808.20 | $427.20 | $118.90 | $72.40 | $67.50 | $63 | $55.20 | $53.80 | $1,426.70 | $239.50 | $205.80 | ||||||||
Operating income | -11.1 | [1] | 15.8 | 7.8 | 15.7 | 13.2 | 18.3 | 17.5 | 12.4 | 28.2 | 61.4 | 71 | |||||||
Loss from unconsolidated affiliates | 0.3 | -0.4 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net income (loss) | -42.1 | -7.9 | -4.5 | 3.9 | 2.5 | 9.1 | 8.3 | 4.5 | -50.6 | 24.4 | 42.1 | ||||||||
Net income attributable to partners | 8.3 | -8.3 | 1.6 | 5.1 | 2.2 | 6 | 3.4 | 3.3 | 6.7 | 14.9 | 7.7 | ||||||||
Basic (dollars per unit) | 0.04 | [1] | -0.05 | [1] | 0.03 | [1] | 0.13 | [1] | 0.06 | [2] | 0.15 | [2] | 0.09 | [2] | 0.08 | [2] | 0.06 | 0.38 | 0.19 |
Diluted (dollars per unit) | 0.04 | [1] | -0.05 | [1] | 0.03 | [1] | 0.13 | [1] | 0.06 | [2] | 0.15 | [2] | 0.09 | [2] | 0.08 | [2] | 0.06 | 0.38 | 0.19 |
Gain (loss) on contingent consideration (Note 15) | ' | ' | ' | ' | ' | ' | ' | ' | -31.4 | 6.8 | 17.2 | ||||||||
Antero | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gain (loss) on contingent consideration (Note 15) | ($31.40) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | The accumulation of basic and diluted net income (loss) per limited partner unit does not total the amount for the year due to changes in ownership percentages throughout the year. | ||||||||||||||||||
[2] | Basic and diluted net income for the quarter ended March 31, 2013 and each of the quarters ended December 31, 2012, were calculated based on the presumption that the common and subordinated units issued to acquire Legacy Crestwood GP (the accounting predecessor) were outstanding for the entire period prior to the June 19, 2013 acquisition. |
Quarterly_Financial_Data_Purch
Quarterly Financial Data Purchase Accounting Adjustments (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 19, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | |||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ||
Current assets | ' | $222.70 | [1] | $224.50 | [2] | ' | ' |
Property, plant and equipment | ' | 2,259.70 | [1] | 2,088.20 | [2] | ' | ' |
Intangible assets | ' | 315 | [1] | 337.5 | [2] | ' | ' |
Other assets | ' | 12.7 | [1] | 12.7 | [2] | ' | ' |
Total identifiable assets acquired | ' | 2,810.10 | [1] | 2,662.90 | [2] | ' | ' |
Current liabilities | ' | 208.9 | [1] | 207.5 | [2] | ' | ' |
Long-term debt | ' | 1,079.30 | [1] | 1,079.30 | [2] | ' | ' |
Other long-term liabilities | ' | 213.1 | [1] | 146.6 | [2] | ' | ' |
Total liabilities assumed | ' | 1,501.30 | [1] | 1,433.40 | [2] | ' | ' |
Net identifiable assets acquired | ' | 1,308.80 | [1] | 1,229.50 | [2] | ' | ' |
Goodwill | 2,552.20 | 2,564.40 | [1] | 2,149.90 | [2] | 352.2 | 348.1 |
Net assets acquired | ' | $3,873.20 | [1] | $3,379.40 | [2] | ' | ' |
[1] | Preliminary estimate recorded as of September 30, 2013. | ||||||
[2] | See Note 4 for additional information related to the December 31, 2013 estimate of the fair values of the assets acquired and liabilities assumed at June 19, 2013, the date of the merger. |
Schedule_I_Crestwood_Equity_Pa1
Schedule I - Crestwood Equity Partners LP (Formerly Inergy, L.P.) - Parent Only - Balance Sheet (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $5.20 | $0.10 | $0.80 | $0 |
Assets, Current | 522 | 50.4 | ' | ' |
Assets | 8,523.20 | 2,301.60 | 1,739.20 | ' |
Accrued Liabilities, Current | 40.3 | 9.6 | ' | ' |
Current portion of long-term debt (Note 7) | 5.1 | 0 | ' | ' |
Long-term debt, less current portion (Note 7) | 2,260.90 | 685.2 | ' | ' |
Other long-term liabilities | 140.4 | 17.2 | ' | ' |
Total partners’ capital | 5,508.60 | 1,550.70 | 1,120 | 926 |
Liabilities and Equity | 8,523.20 | 2,301.60 | ' | ' |
Parent Company | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 0.1 | 0 | ' | ' |
Assets, Current | 0.1 | ' | ' | ' |
Goodwill and intangible assets, net | 0 | ' | ' | ' |
Investment in subsidiary | 5,927.10 | ' | ' | ' |
Assets | 5,927.20 | ' | ' | ' |
Accrued Liabilities, Current | 2 | ' | ' | ' |
Current portion of long-term debt (Note 7) | 2.2 | ' | ' | ' |
Other current liabilities | 4.2 | ' | ' | ' |
Long-term debt, less current portion (Note 7) | 393 | ' | ' | ' |
Other long-term liabilities | 21.4 | ' | ' | ' |
Total partners’ capital | 5,508.60 | ' | ' | ' |
Liabilities and Equity | $5,927.20 | ' | ' | ' |
Schedule_I_Crestwood_Equity_Pa2
Schedule I - Crestwood Equity Partners LP (Formerly Inergy, L.P.) - Parent Only - Statement of Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating income | ($11.10) | [1] | $15.80 | $7.80 | $15.70 | $13.20 | $18.30 | $17.50 | $12.40 | $28.20 | $61.40 | $71 |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -77.9 | -35.8 | -27.6 | |
Loss from unconsolidated affiliates | 0.3 | -0.4 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -49.6 | 25.6 | 43.4 | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1.2 | 1.3 | |
Net income attributable to Crestwood Equity Partners LP | 8.3 | -8.3 | 1.6 | 5.1 | 2.2 | 6 | 3.4 | 3.3 | 6.7 | 14.9 | 7.7 | |
Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -6.5 | ' | ' | |
Loss from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -43.9 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -50.4 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | ' | ' | |
Net income attributable to Crestwood Equity Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | ($50.60) | ' | ' | |
[1] | The accumulation of basic and diluted net income (loss) per limited partner unit does not total the amount for the year due to changes in ownership percentages throughout the year. |
Schedule_I_Crestwood_Equity_Pa3
Schedule I - Crestwood Equity Partners LP (Formerly Inergy, L.P.) - Parent Only - Statement of Comprehensive Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($42.10) | ($7.90) | ($4.50) | $3.90 | $2.50 | $9.10 | $8.30 | $4.50 | ($50.60) | $24.40 | $42.10 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | -50.7 | 24.4 | 42.1 |
Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50.6 | ' | ' |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | ' | ' |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | ($50.70) | ' | ' |
Schedule_I_Crestwood_Equity_Pa4
Schedule I - Crestwood Equity Partners LP (Formerly Inergy, L.P.) - Parent Only - Condensed Statement of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | $188.30 | $102.10 | $86.30 |
Net Cash Provided by (Used in) Investing Activities | -1,042.90 | -616.6 | -456.5 |
Proceeds from the issuance of long-term debt | 394.1 | 0 | 0 |
Repayments of Long-term Debt | 333.3 | 0 | 0 |
Payments of Capital Distribution | 68.4 | 13.8 | 5.9 |
Net Cash Provided by (Used in) Financing Activities | 859.7 | 513.8 | 371 |
Cash and Cash Equivalents, Period Increase (Decrease) | 5.1 | -0.7 | 0.8 |
Cash and cash equivalents | 5.2 | 0.1 | 0.8 |
Parent Company | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | 0 | ' | ' |
Net Cash Provided by (Used in) Investing Activities | 76 | ' | ' |
Proceeds from the issuance of long-term debt | 0 | ' | ' |
Repayments of Long-term Debt | 0 | ' | ' |
Payments of Capital Distribution | 76 | ' | ' |
Proceeds from Limited Partnership Investments | 0 | ' | ' |
Other | 0.1 | ' | ' |
Net Cash Provided by (Used in) Financing Activities | -75.9 | ' | ' |
Cash and Cash Equivalents, Period Increase (Decrease) | 0.1 | ' | ' |
Cash and cash equivalents | $0.10 | $0 | ' |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Details) (Allowance for Doubtful Accounts [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Valuation Allowances and Reserves, Balance | $0 | $0 | $0 |
Valuation Allowances and Reserves, Charged to Cost and Expense | -1.1 | 0 | 0 |
Valuation Allowances and Reserves, Charged to Other Accounts | 1.2 | 0 | 0 |
Valuation Allowances and Reserves, Deductions | 0 | 0 | 0 |
Valuation Allowances and Reserves, Balance | $0.10 | $0 | $0 |