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 |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'Crestwood Midstream Partners LP | ' | ' |
Trading Symbol | 'CMLP | ' | ' |
Entity Central Index Key | '0001304464 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 187,934,087 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $1.70 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $2.70 | $0.10 |
Accounts receivable | 205.1 | 45.4 |
Inventory | 7 | 0 |
Prepaid expenses and other current assets | 10.2 | 4.9 |
Total current assets | 225 | 50.4 |
Property, plant and equipment | 3,565.70 | 1,069.90 |
Less: accumulated depreciation and depletion | 215.6 | 130 |
Property, plant and equipment, net | 3,350.10 | 939.9 |
Intangible assets: | ' | ' |
Intangible assets | 1,025.10 | 546.4 |
Less: accumulated amortization | 54.3 | 22.4 |
Intangible assets, net | 970.8 | 524 |
Goodwill | 1,682.80 | 95 |
Investment in unconsolidated affiliates | 151.4 | 0 |
Other assets | 21.7 | 1.3 |
Total assets | 6,401.80 | 1,610.60 |
Current liabilities: | ' | ' |
Accounts payable | 157.8 | 5.4 |
Accrued expenses and other liabilities (Note 3) | 153.8 | 43.1 |
Current portion of long-term debt | 2.9 | 0 |
Total current liabilities | 314.5 | 48.5 |
Long-term debt, less current portion (Note 7) | 1,867.90 | 685.2 |
Other long-term liabilities | 26.3 | 17.2 |
Commitments and contingencies (Note 12) | ' | ' |
Partners' Capital [Abstract] | ' | ' |
Partners' capital (187,243,989 and 64,655,957 common units issued and outstanding at December 31, 2013 and December 31, 2012) | 4,092.10 | 859.7 |
Total Crestwood Midstream Partners LP partners’ capital | 4,092.10 | 859.7 |
Interest of non-controlling partners in subsidiary | 101 | 0 |
Total partners’ capital | 4,193.10 | 859.7 |
Total liabilities and partners’ capital | $6,401.80 | $1,610.60 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Common units, issued | 0 | 0 |
Common units, outstanding | 0 | 0 |
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 | 270.1 | 0 | 0 |
Storage and transportation | 90.1 | 0 | 0 |
Related party (Note 13) | 82.1 | 113.7 | 131.2 |
Revenues | 658.6 | 239.5 | 205.8 |
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ' | ' | ' |
Gathering and processing | 24.1 | ' | ' |
Propane Costs | 24.1 | 23.8 | ' |
Costs of product/services sold | 295.7 | 39 | 38.8 |
NGL and crude services | 230.4 | ' | ' |
Cost of Goods Sold, Marketing Supply and Logistics | ' | 0 | 0 |
Storage and transportation | 8.7 | ' | ' |
Cost of Goods Sold, Storage and Transportation | ' | 0 | 0 |
Related party (Note 13) | 32.5 | 15.2 | 0 |
Cost of Revenue | 295.7 | 39 | 38.8 |
Expenses: | ' | ' | ' |
Operating and administrative | 154 | 72.7 | 60.4 |
Depreciation, amortization and accretion | 121.7 | 51.9 | 33.8 |
Costs and Expenses, Total | 275.7 | 124.6 | 94.2 |
Other operating income (expense): | ' | ' | ' |
Goodwill impairment | -4.1 | 0 | 0 |
Loss on contingent consideration (Note 12) | -31.4 | 0 | 0 |
Gain on long-lived assets | 5.4 | 0 | 1.1 |
Operating income | 57.1 | 75.9 | 73.9 |
Earnings (loss) from unconsolidated affiliates, net | -0.1 | 0 | 0 |
Interest and debt expense, net | -71.4 | -35.8 | -27.6 |
Income (loss) before income taxes | -14.4 | 40.1 | 46.3 |
Provision for income taxes | 0.7 | 1.2 | 1.3 |
Net income (loss) | -15.1 | 38.9 | 45 |
Net (income) loss attributable to non-controlling partners | -4.9 | 0 | 0 |
Net income (loss) attributable to Crestwood Midstream Partners LP | -20 | 38.9 | 45 |
Partners’ interest information: | ' | ' | ' |
Non-managing general partner's interest in net income | 26.8 | 22.2 | 7.7 |
Payment to Legacy Crestwood unitholders | 34.9 | 0 | 0 |
Limited partners’ interest in net income (loss) | ($81.70) | $16.70 | $37.30 |
Net income (loss) per limited partner unit: | ' | ' | ' |
Basic (usd per unit) | ($0.82) | $0.26 | $0.58 |
Diluted (usd per unit) | ($0.82) | $0.26 | $0.58 |
Weighted-average limited partners’ units outstanding (in thousands): | ' | ' | ' |
Basic (units) | 99,183 | 64,656 | 64,656 |
Diluted (units) | 99,183 | 64,656 | 64,656 |
CONSOLIDATED_STATEMENT_OF_PART
CONSOLIDATED STATEMENT OF PARTNERS' CAPITAL (USD $) | Total | Limited Partner | Non Controlling Partners | Partners' Capital | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC | Arrow Midstream Holdings, LLC |
In Millions, unless otherwise specified | Limited Partner | Non Controlling Partners | Partners' Capital | ||||
Beginning Balance at Dec. 31, 2010 | ' | $258.70 | $0 | $258.70 | ' | ' | ' |
Increase (Decrease) in Partners' Capital [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of units | ' | 206.3 | 0 | 206.3 | ' | ' | ' |
Contributions from general partner | ' | 8.7 | 0 | 8.7 | ' | ' | ' |
Net income (loss) | 45 | 45 | 0 | 45 | ' | ' | ' |
Unit-based compensation charges | ' | 0.9 | 0 | 0.9 | ' | ' | ' |
Distributions to general partner | ' | -5.9 | 0 | -5.9 | ' | ' | ' |
Distributions to limited partner | ' | -58.1 | 0 | -58.1 | ' | ' | ' |
Issuance of preferred equity of subsidiary | 0 | ' | ' | ' | ' | ' | ' |
Ending Balance at Dec. 31, 2011 | ' | 455.6 | 0 | 455.6 | ' | ' | ' |
Increase (Decrease) in Partners' Capital [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of units | ' | 217.5 | 0 | 217.5 | ' | ' | ' |
Contributions from general partner | ' | 249.7 | 0 | 249.7 | ' | ' | ' |
Net income (loss) | 38.9 | 38.9 | 0 | 38.9 | ' | ' | ' |
Unit-based compensation charges | ' | 1.9 | 0 | 1.9 | ' | ' | ' |
Taxes paid or unit-based compensation vesting | ' | -0.4 | 0 | -0.4 | ' | ' | ' |
Distributions to general partner | ' | -25.8 | ' | -25.8 | ' | ' | ' |
Distributions to limited partner | ' | -77.7 | 0 | -77.7 | ' | ' | ' |
Ending Balance at Dec. 31, 2012 | 859.7 | 859.7 | 0 | 859.7 | ' | ' | ' |
Increase (Decrease) in Partners' Capital [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of units | ' | 714 | 0 | 714 | ' | ' | ' |
Issuance of common units for acquisition | ' | ' | ' | ' | 200 | 0 | 200 |
Invested capital from Legacy Inergy, net of debt | ' | 2,682.30 | 0 | 2,682.30 | ' | ' | ' |
Contributions from general partner | ' | 15.5 | 0 | 15.5 | ' | ' | ' |
Net income (loss) | -15.1 | -20 | 4.9 | -15.1 | ' | ' | ' |
Unit-based compensation charges | ' | 15.8 | 0 | 15.8 | ' | ' | ' |
Taxes paid or unit-based compensation vesting | ' | -5.5 | 0 | -5.5 | ' | ' | ' |
Distributions to general partner | ' | -26.2 | 0 | -26.2 | ' | ' | ' |
Distributions to limited partner | ' | -214.5 | 0 | -214.5 | ' | ' | ' |
Distributions for additional interest in Crestwood Marcellus Midstream LLC | ' | -129 | 0 | -129 | ' | ' | ' |
Issuance of preferred equity of subsidiary | -96.1 | 0 | 96.1 | 96.1 | ' | ' | ' |
Ending Balance at Dec. 31, 2013 | $4,092.10 | $4,092.10 | $101 | $4,193.10 | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net income (loss) | $38.90 | ($15.10) | $45 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation, amortization and accretion | 51.9 | 121.7 | 33.8 |
Amortization of debt-related deferred costs, discounts and premiums | 5.5 | 9.1 | 3.5 |
Unit-based compensation charges | 1.9 | 15.8 | 0.9 |
Goodwill impairment | 0 | 4.1 | 0 |
Gain on long-lived assets | 0 | -5.4 | -1.1 |
Loss on contingent consideration | 0 | 31.4 | 0 |
Loss from unconsolidated affiliates, net | 0 | 0.1 | 0 |
Other | -0.2 | 0.1 | 0 |
Changes in operating assets and liabilities, net of effects from acquisitions: | ' | ' | ' |
Accounts receivable | -3.5 | 70.3 | -11.7 |
Inventories | 0 | -0.1 | 0 |
Prepaid expenses and other current assets | 0.8 | 3.5 | 0.2 |
Accounts payable, accrued expenses and other liabilities | 6.8 | -49 | 15.7 |
Net cash provided by operating activities | 102.1 | 186.5 | 86.3 |
Investing activities | ' | ' | ' |
Acquisitions, net of cash acquired (Note 4) | -564 | -561.5 | -414.1 |
Proceeds from sale of assets | 0 | 11.1 | 6 |
Investment in unconsolidated affiliates | 0 | -151.5 | 0 |
Purchases of property, plant and equipment | -52.6 | -334.6 | -48.4 |
Net cash used in investing activities | -616.6 | -1,036.50 | -456.5 |
Financing activities | ' | ' | ' |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | ' | 2,072.80 | ' |
Principal payments on Crestwood Midstream Partners LP long-term debt | ' | -1,634.30 | ' |
Distributions to limited partners | -77.7 | -204.5 | -58.1 |
Distributions to general partner | -25.8 | -26.2 | -5.9 |
Distributions for additional interest in Crestwood Marcellus Midstream LLC | 0 | -129 | 0 |
Contributions from general partner | 249.7 | 5.5 | 8.7 |
Net proceeds from issuance of common units | 217.5 | 714 | 53.6 |
Net proceeds from issuance of Legacy Crestwood Class C units | 0 | 0 | 152.7 |
Net proceeds from issuance of preferred equity of subsidiary | 0 | 96.1 | 0 |
Payments on capital leases | -3 | -4.3 | -2 |
Taxes paid for unit-based compensation vesting | -0.4 | -5.5 | 0 |
Payments for deferred acquisition costs | 7.8 | 0 | 0 |
Payments for deferred financing costs | -11.4 | -32 | -7 |
Net cash provided by financing activities | 513.8 | 852.6 | 371 |
Net increase (decrease) in cash | -0.7 | 2.6 | 0.8 |
Cash at beginning of period | 0.8 | 0.1 | 0 |
Cash at end of period | ' | 2.7 | 0.8 |
Supplemental disclosure of cash flow information | ' | ' | ' |
Cash paid during the period for interest | 27.9 | 56.7 | 20.3 |
Supplemental schedule of non-cash investing and financing activities | ' | ' | ' |
Net change to property, plant and equipment through accounts payable and accrued expenses | -1.7 | -30.7 | 3.8 |
Acquisitions, net of cash acquired: | ' | ' | ' |
Current assets | 0 | 240 | 4 |
Property, plant and equipment | 178 | 2,076.80 | 204.6 |
Intangible assets | 384 | 519.4 | 130.2 |
Goodwill | 4.1 | 1,583.20 | 93.6 |
Other assets | 0 | 22.3 | 0.2 |
Current liabilities | -0.7 | -243.9 | -12.5 |
Debt | 0 | -745 | 0 |
Invested capital of Crestwood Midstream Partners LP, net of debt (Note 4) | 0 | -2,882.30 | 0 |
Other liabilities | -1.4 | -9 | -6 |
Total acquisitions, net of cash acquired | 564 | 561.5 | 414.1 |
Crestwood Midstream Partners LP | ' | ' | ' |
Financing activities | ' | ' | ' |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | 0 | 1,573.40 | 0 |
Principal payments on Crestwood Midstream Partners LP long-term debt | 0 | -1,359.30 | 0 |
CMLP | ' | ' | ' |
Financing activities | ' | ' | ' |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | 563.2 | 357.5 | 415.2 |
Principal payments on Crestwood Midstream Partners LP long-term debt | -517.5 | -200 | -186.2 |
Crestwood Marcellus Midstream LLC | ' | ' | ' |
Financing activities | ' | ' | ' |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | 143.5 | 141.9 | 0 |
Principal payments on Crestwood Midstream Partners LP long-term debt | ($16.50) | ($75) | $0 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization and Basis of Presentation | ' |
Organization and Description of Business | |
Organization | |
Inergy Midstream, LLC was formed in September 2004 by Crestwood Equity Partners LP (formerly Inergy, L.P., “CEQP”) to acquire, develop, own and operate energy midstream assets. In connection with its initial public offering of common units representing limited partnership interests, Inergy Midstream, LLC converted into a Delaware limited partnership and changed its name to Inergy Midstream, L.P. on November 14, 2011. The partnership’s common units began trading on the NYSE on December 16, 2011 under the symbol “NRGM,” and the IPO closed on December 21, 2011. The partnership changed its name and NYSE listing symbol to Crestwood Midstream Partners LP and “CMLP,” respectively, on October 7, 2013 as part of the business combination described below. | |
As of December 31, 2013, CEQP owns our non-economic general partnership interest, approximately 4% of our common units representing limited partnership interests and 100% of our incentive distribution rights (“IDRs”), which entitle CEQP to receive 50% of all distributions paid to our common unit holders in excess of our initial quarterly distributions of $0.37 per common unit. CEQP is indirectly owned by Crestwood Holdings LLC (“Crestwood Holdings”), which is substantially owned and controlled by First Reserve Management, L.P. (“First Reserve”) and which owns approximately 11% of our common units as of December 31, 2013. | |
Unless otherwise indicated, references in this report to “we,” “us,” “our,” “ours,” “our company,” the “partnership,” the “Company,” “CMLP,” “Crestwood Midstream” and similar terms refer to either Crestwood Midstream Partners LP itself or Crestwood Midstream Partners LP and its consolidated subsidiaries, as the context requires. Unless otherwise indicated, references to (i) Legacy Crestwood refers to either Crestwood Midstream Partners LP itself or Crestwood Midstream Partners LP and its consolidated subsidiaries prior to the Crestwood Merger (defined below) and (ii) Legacy Inergy refers to either Inergy Midstream, L.P. itself or Inergy Midstream, L.P. and its consolidated subsidiaries prior to the Crestwood Merger. | |
Business Combination | |
On May 5, 2013, CEQP and certain of its affiliates entered into a series of definitive agreements with Crestwood Holdings and certain of its affiliates under which, among other things, (i) CEQP agreed to distribute to its common unitholders all of the Legacy Inergy common units owned by CEQP; (ii) Crestwood Holdings agreed to acquire the owner of CEQP’s general partner; (iii) Crestwood Holdings agreed to contribute ownership of Legacy Crestwood’s general partner and IDRs to CEQP in exchange for common and subordinated units of CEQP; and (iv) Legacy Crestwood agreed to merge with and into a subsidiary of Legacy Inergy in a merger in which Legacy Crestwood unitholders received 1.07 Legacy Inergy common units for each Legacy Crestwood common unit they owned and, Legacy Crestwood unitholders (other than Crestwood Holdings) would receive a one-time $34.9 million cash payment at the closing of the Crestwood Merger, or $1.03 per unit. | |
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 Crestwood, representing all of the Legacy Crestwood common and Class D units held by Legacy Crestwood’s general partner. | |
On June 18, 2013, CEQP distributed to its unitholders approximately 56.4 million Legacy Inergy common units, representing all of the Legacy Inergy common units held by CEQP. | |
On June 19, 2013, Crestwood Holdings acquired the owner of CEQP’s general partner and contributed to CEQP ownership of Crestwood Gas Services GP, LLC, which owned 100% of the general partnership interest and IDRs of Legacy Crestwood. Crestwood Holdings and its ultimate parent company, First Reserve, acquired control of CEQP as a result of these transactions. As a result of Crestwood Holding’s acquisition of control of CEQP, Crestwood Holdings acquired control of our general partner and, consequently, the Company on June 19, 2013. | |
On October 7, 2013, the merger of Legacy Inergy’s wholly-owned subsidiary with and into Legacy Crestwood (the “Crestwood Merger”) was completed, with Legacy Crestwood continuing as the surviving accounting entity. Immediately following the closing of the Crestwood Merger, on October 7, 2013, (i) Legacy Crestwood merged with and into Legacy Inergy, with Legacy Inergy continuing as the surviving legal entity, and (ii) Legacy Inergy changed its name to Crestwood Midstream Partners LP and changed its NYSE listing symbol to “CMLP”. Under the merger agreement, 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 Legacy Crestwood common or Class D units outstanding immediately following the merger. Additionally, Legacy Crestwood unitholders (other than Crestwood Holdings) received a one-time $34.9 million cash payment at the closing of the merger, or $1.03 per units, $24.9 million of which was paid by Legacy Inergy and $10 million of which was paid by Crestwood Holdings. | |
Following the closing of the Crestwood Merger on October 7, 2013, Crestwood Holdings exchanged 7,100,000 of our common units for 14,300,000 of CEQP 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 and transportation 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) the Bath storage facility, an NGL underground storage facility in New York, and (iv) 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 (Stagecoach, Thomas Corners, Steuben and Seneca Lake), and natural gas transmission facilities in New York and Pennsylvania (the North-South Facilities, the MARC I Pipeline, and the East Pipeline). |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [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, prior to the Crestwood Merger and the merger of Legacy Crestwood with and into Legacy Inergy on October 7, 2013 as discussed above. Crestwood Holdings acquisition of control of CEQP’s general partner on June 19, 2013 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 merger results in the legal acquiree (Crestwood Gas Services GP LLC) being the acquirer for accounting purposes. The accounting acquiree (Inergy, inclusive of Inergy Midstream) was subject to the purchase method of accounting and its balance sheet was adjusted to fair market value as of June 19, 2013. The merger of Legacy Crestwood and Inergy Midstream on October 7, 2013 was accounted for as a reverse merger amongst entities under common control. Although Legacy Crestwood was the surviving entity for accounting purposes, Inergy Midstream was the surviving entity for legal purposes, and consequently we changed our name from Inergy Midstream, LP to Crestwood Midstream Partners, LP. As the reverse merger was amongst entities under common control, the financial statements have been recast to reflect the operations of Inergy Midstream as being acquired by Legacy Crestwood on June 19, 2013, the date in which Inergy Midstream and Legacy Crestwood came under common control. On September 27, 2013, we changed our fiscal year-end from September 30 to December 31 to adopt the fiscal year of Legacy Crestwood. | ||
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. | ||
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 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 $1.6 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. | ||
For the years ended December 31, 2013, 2012 and 2011, Quicksilver Resources Inc. ("Quicksilver") accounted for approximately 15%, 47% and 64% of our total consolidated revenues. For the years ended December 31, 2013 and 2012, Antero Resources Appalachian Corporation ("Antero") accounted for approximately 10% and 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 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 | 10-May | |
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 | 19 | |
Covenants not to compete | 3 | |
Trademarks | 5 | |
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 our 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. | ||
Allocation of Expenses | ||
We share common management, operating and administrative and overhead costs with CEQP. CEQP allocated to us $9.5 million of costs for the year ended December 31, 2013. Included in this amount was $4.4 million of unit-based compensation charges. We have an omnibus agreement with CEQP that requires us to reimburse CEQP for all shared costs incurred on its behalf, except for certain unit based compensation costs which are treated as capital transactions. Due to the nature of these shared costs, it is not practicable to estimate what the costs would have been on a stand-alone basis. Accordingly, the accompanying financial statements may not necessarily be indicative of the conditions that would have existed, or the results of operations that would have occurred, if we operated as a stand-alone entity. | ||
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 11 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. See Note 10 for a further discussion of our equity 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 14 for disclosures related to our three operating and reporting segments. |
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 did not have inventory at December 31, 2012. | ||||||||
December 31, | ||||||||
2013 | ||||||||
Parts and supplies | $ | 4.5 | ||||||
Crude oil | 1.4 | |||||||
Raw materials | 0.4 | |||||||
Finished goods | 0.7 | |||||||
Total inventory | $ | 7 | ||||||
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 | 1,231.10 | 451 | ||||||
Facilities and equipment | 1,041.00 | 491.3 | ||||||
Salt deposits | 120.5 | — | ||||||
Buildings, rights-of-way and easements | 84.2 | 64.2 | ||||||
Land and storage rights | 682 | 4.7 | ||||||
Vehicles | 4.1 | 0.3 | ||||||
Construction in process | 360.5 | 56.1 | ||||||
Base gas | 36.3 | — | ||||||
Office furniture and fixtures | 6 | 2.3 | ||||||
3,565.70 | 1,069.90 | |||||||
Less: accumulated depreciation and depletion | 215.6 | 130 | ||||||
Total property, plant and equipment, net | $ | 3,350.10 | $ | 939.9 | ||||
Depreciation. Depreciation expense totaled $87.1 million, $40.8 million and $30.9 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 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 | $ | 476.4 | $ | — | ||||
(accumulated amortization—customer accounts) | (13.4 | ) | — | |||||
Covenants not to compete | 3 | — | ||||||
(accumulated amortization—covenants not to compete) | (0.6 | ) | — | |||||
Trademarks | 11 | — | ||||||
(accumulated amortization - trademarks) | (0.3 | ) | — | |||||
Gas gathering, compression and processing contracts | 451.4 | 514.2 | ||||||
(accumulated amortization—gas gathering, compression and processing contracts) | (27.9 | ) | (12.7 | ) | ||||
Acquired storage contracts | 29 | — | ||||||
(accumulated amortization—acquired storage contracts) | (4.0 | ) | — | |||||
Deferred financing and other costs | 54.3 | 32.2 | ||||||
(accumulated amortization—deferred financing costs) | (8.1 | ) | (9.7 | ) | ||||
Total intangible assets, net | $ | 970.8 | $ | 524 | ||||
Amortization and interest expense associated with our intangible assets described above for the years ended December 31, 2013, 2012 and 2011, was approximately $43.1 million, $15.9 million and $5.9 million. | ||||||||
Estimated amortization on our intangibles for the next five years is as follows (in millions): | ||||||||
Year Ending | ||||||||
December 31, | ||||||||
2014 | $ | 76.5 | ||||||
2015 | 81.2 | |||||||
2016 | 71.3 | |||||||
2017 | 61.4 | |||||||
2018 | 52.7 | |||||||
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 | $ | 25.4 | $ | 9.6 | ||||
Accrued property taxes | 7.6 | 5.6 | ||||||
Accrued product purchases payable | 1.6 | 2.5 | ||||||
Tax payable | 10.6 | 2.2 | ||||||
Interest payable | 14.9 | 7.5 | ||||||
Accrued additions to property, plant and equipment | 58.1 | 9.2 | ||||||
Commitments and contingent liabilities (Note 12) | 31.4 | — | ||||||
Capital leases | 2.6 | 3.9 | ||||||
Deferred revenue | 1.6 | 2.6 | ||||||
Total accrued expenses and other liabilities | $ | 153.8 | $ | 43.1 | ||||
Acquisitions
Acquisitions | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Acquisitions | ' | |||||||||||
Acquisitions | ||||||||||||
2013 Acquisitions | ||||||||||||
Crestwood Merger | ||||||||||||
As described in Note 2, the merger of Legacy Crestwood with and into Legacy Inergy was accounted for as a reverse merger amongst entities under common control. This accounting treatment requires the accounting acquiree (Legacy Inergy) 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 in which Legacy Crestwood and Legacy Inergy came under common control. The fair value of Legacy Inergy was calculated based on the consolidated enterprise fair value of Legacy Inergy as of June 19, 2013. This consolidated enterprise fair value considered the discounted future cash flows of Legacy Inergy's operations and Legacy Inergy's NYSE-listed stock price, the value of its outstanding senior notes based on quoted market prices for same or similar issuances and the value of its 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 | $ | 49 | ||||||||||
Property, plant and equipment | 1,677.80 | |||||||||||
Intangible assets | 196 | |||||||||||
Other assets | 2.9 | |||||||||||
Total identifiable assets acquired | 1,925.70 | |||||||||||
Current liabilities | 30.8 | |||||||||||
Long-term debt | 745 | |||||||||||
Other long-term liabilities | 5.3 | |||||||||||
Total liabilities assumed | 781.1 | |||||||||||
Net identifiable assets acquired | 1,144.60 | |||||||||||
Goodwill | 1,537.70 | |||||||||||
Net assets acquired | $ | 2,682.30 | ||||||||||
Of the $1,537.7 million of goodwill, $601.2 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 Inergy and Legacy Crestwood. 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 $148.6 million of operating revenues and $29.8 million of operating income related to this acquisition. | ||||||||||||
Arrow Acquisition | ||||||||||||
On November 8, 2013, we 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 one of our wholly-owned subsidiaries with and into Arrow (the “Arrow Acquisition”), with Arrow continuing as the surviving entity and our wholly-owned subsidiary. The base merger consideration consisted of $550 million in cash and 8,826,125 common units 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, we 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 12 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 7 and Note 9. | ||||||||||||
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 our 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 | 2011 | ||||||||||
Revenues | $ | 2,083.30 | $ | 1,184.50 | $ | 606.4 | ||||||
Net income (loss) | $ | (21.0 | ) | $ | 50.1 | $ | 62.4 | |||||
Net income (loss) per limited partner unit(a): | ||||||||||||
Basic | $ | (0.61 | ) | $ | 0.29 | $ | 0.36 | |||||
Diluted | $ | (0.61 | ) | $ | 0.29 | $ | 0.36 | |||||
(a) Basic and diluted net income per limited partner unit for the years ended December 31, 2012 and 2011 were computed based on the number of NRGM common units outstanding plus the number of common units issued by Legacy Inergy to Legacy Crestwood unitholders as part of the Crestwood Merger discussed in Note 1 and the number of units issued in conjunction with the Arrow acquisition. Pro forma shares issued in conjunction with the Rangeland acquisition were also included in 2011. | ||||||||||||
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 (Notes) | 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. |
Earnings_Limited_Partner_Unit_
Earnings Limited Partner Unit Earnings Limited Partner Unit | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Limited Partner Unit | ' | |||||||||||
Earnings Per Limited Partner Unit | ||||||||||||
Prior to the Crestwood Merger, net income attributable to Legacy Crestwood was allocated to the general partner and the limited partners in accordance with their respective ownership percentages, after giving effect to incentive distributions earned by the general partner. To the extent cash distributions exceeded net income attributable to Legacy Crestwood, the excess distributions were allocated proportionately to all participating units outstanding based on their respective ownership percentages. As a result of the Crestwood Merger, CEQP, our general partner, owns a non-economic general partner interest in us and 100% of our IDRs. We allocate net income attributable to CMLP to our limited partners after giving effect to the IDRs earned by CEQP. | ||||||||||||
Basic earnings per unit are calculated using the two-class method. Diluted earnings per unit are computed using the treasury stock method, which considers the impact to net income attributed to CMLP and limited partner units from the potential issuance of limited partner units as discussed below. The weighted average number of units outstanding is calculated based on the presumption that the number of common units issued by Legacy Inergy to Legacy Crestwood unitholders as part of the Crestwood Merger were outstanding for the entire period prior to Crestwood Merger. | ||||||||||||
The tables below show the (i) allocation of net income attributable to limited partners and the (ii) net income attributable to CMLP per limited partner unit based on the number of basic and diluted limited partner units outstanding for the years ended December 31, 2013, 2012 and 2011 (in millions): | ||||||||||||
Allocation of Net Income Attributable to CMLP to General Partner and Limited Partners | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net income (loss) attributable to CMLP | $ | (20.0 | ) | $ | 38.9 | $ | 45 | |||||
General partner’s incentive distributions | (26.4 | ) | (14.8 | ) | (7.0 | ) | ||||||
Net income (loss) attributable to CMLP after incentive distributions | (46.4 | ) | 24.1 | 38 | ||||||||
General partner’s interest in net income attributable to CMLP after incentive distributions | (0.4 | ) | (7.4 | ) | (0.7 | ) | ||||||
Payment to Legacy Crestwood unitholders | (34.9 | ) | — | — | ||||||||
Limited partners’ interest in net income (loss) attributable to CMLP after incentive distributions | $ | (81.7 | ) | $ | 16.7 | $ | 37.3 | |||||
Earnings Per Limited Partner Unit | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Limited partners’ interest in net income (loss) | $ | (81.7 | ) | $ | 16.7 | $ | 37.3 | |||||
Weighted-average limited partner units - basic | 99.2 | 64.7 | 64.7 | |||||||||
Effect of diluted units | — | — | — | |||||||||
Weighted-average limited partner units - diluted | 99.2 | 64.7 | 64.7 | |||||||||
Basic earnings per unit: | ||||||||||||
Net income (loss) per limited partner | $ | (0.82 | ) | $ | 0.26 | $ | 0.58 | |||||
Diluted earnings per unit: | ||||||||||||
Net income (loss) per limited partner | $ | (0.82 | ) | $ | 0.26 | $ | 0.58 | |||||
We exclude potentially dilutive securities from the determination of diluted earnings per unit (as well as their related income statement impacts) when their impact on net income attributable to CMLP per limited partner unit is anti-dilutive. During the year ended December 31, 2013, we excluded 1,891,326 preferred security units issued by Crestwood Niobrara from our diluted earnings per unit. There were no units excluded from our dilutive earnings per share as we did not have any anti-dilutive units for the years ended December 31, 2012 and 2011. | ||||||||||||
General Partner Interest and Incentive Distribution Rights | ||||||||||||
Prior to the Crestwood Merger, Legacy Crestwood’s general partner was entitled to quarterly distributions equal to its general partner interest. In addition, Legacy Crestwood’s general partner held IDRs in accordance with the Legacy Crestwood Partnership Agreement. These rights paid an increasing percentage, up to a maximum of 50% of the cash they distributed from operating surplus in excess of $0.45 per unit per quarter. The maximum distribution of 50% included distributions paid to the general partner based on its general partner interest and assumed that Legacy Crestwood’s general partner maintained its general partner interest. The maximum distribution of 50% did not include any distributions that the general partner may have received on limited partner units that it owned. | ||||||||||||
Following the Crestwood Merger, our general partner is not entitled to distributions on its non-economic general partner interest. IDRs are entitled to receive 50% of the cash distributed from operating surplus (as defined in our partnership agreement) in excess of the initial quarterly distribution of $0.37. | ||||||||||||
CEQP, as the owner of our IDRs, has the right under our partnership agreement to elect to relinquish the right to receive incentive distribution payments based on the initial quarterly distribution and to reset, at a higher level, the quarterly distribution amount (upon which the incentive distribution payments to CEQP would be set). If CEQP elects to reset the quarterly distribution, it will be entitled to receive a number of newly issued Company common units. The number of common units to be issued to CEQP will equal the number of common units that would have entitled the holder to the quarterly cash distribution in the prior quarter equal to the distribution to CEQP on the IDRs in such prior quarter. As the reset election has not been made, no additional units have been issued. For accounting purposes, diluted earnings per unit can be impacted, (even if the reset election has not been made), if the combined impact of issuing the additional units and resetting the cash target distribution is dilutive. Currently, diluted earnings per unit has not been impacted because the combined impact is anti-dilutive. | ||||||||||||
See Note 9 for a further discussion of the distributions and IDRs paid to the general partner during the three years ended December 31, 2013. |
Financial_Instruments
Financial Instruments | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||
Financial Instruments | ' | |||||||||||||||
Financial Instruments | ||||||||||||||||
Fair Value | ||||||||||||||||
We separate the fair values of our financial instruments into three levels (Levels 1, 2 and 3) based on our assessment of the availability of observable market data and the significance of non-observable data used to determine fair value. Our assessment and classification of an instrument within a level can change over time based on the maturity or liquidity of the instruments and would be reflected at the end of the period in which the change occurs. At December 31, 2013 and 2012, there have been no changes to the inputs and valuation techniques used to measure fair value, the types of instruments, or the levels in which they are classified. | ||||||||||||||||
As of December 31, 2013 and 2012, the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable represent fair value based on the short-term nature of these instruments. The fair value of our credit facilities approximated their carrying amounts as of December 31, 2013 and 2012 due primarily to the variable nature of the interest rate of the instruments, which is considered a Level 2 fair value measurement. As discussed below, contemporaneously with the closing of the Crestwood Merger on October 7, 2013, we repaid and retired the credit facilities of Legacy Crestwood and CMM with borrowings under the Crestwood Midstream Revolver. | ||||||||||||||||
We estimated the fair value of our senior notes (representing a Level 2 fair value measurement) primarily based on quoted market prices for the same or similar issuances. The following table reflects the carrying value and fair value of our senior notes (in millions): | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying Amount | Fair | Carrying Amount | Fair | |||||||||||||
Value | Value | |||||||||||||||
2022 senior unsecured notes | $ | 600 | $ | 617.3 | $ | — | $ | — | ||||||||
2019 senior unsecured notes | $ | 351.2 | $ | 379.3 | $ | 351.5 | $ | 365.9 | ||||||||
2020 senior unsecured notes | $ | 504.7 | $ | 513.8 | $ | — | $ | — | ||||||||
Debt | ||||||||||||||||
Long-term debt consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||||||||||
December 31, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Crestwood Midstream Revolver | $ | 414.9 | $ | — | ||||||||||||
Legacy Crestwood credit facility | — | 206.7 | ||||||||||||||
2019 Senior Notes | 350 | 350 | ||||||||||||||
Premium on 2019 Senior Notes | 1.2 | 1.5 | ||||||||||||||
CMM credit facility | — | 127 | ||||||||||||||
2020 Senior Notes | 500 | — | ||||||||||||||
Fair value adjustment of 2020 Senior Notes | 4.7 | — | ||||||||||||||
2022 Senior Notes | 600 | — | ||||||||||||||
Total debt | 1,870.80 | 685.2 | ||||||||||||||
Less: current portion | 2.9 | — | ||||||||||||||
Total long-term debt | $ | 1,867.90 | $ | 685.2 | ||||||||||||
Credit Facility | ||||||||||||||||
Contemporaneously with the closing of the Crestwood Merger on October 7, 2013, we entered into a new 5-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 our restricted domestic subsidiaries, and is joint and severally guaranteed by substantially all of our restricted domestic subsidiaries. | ||||||||||||||||
We borrowed $623.6 million under the Crestwood Midstream Revolver to repay in full and retire the credit facilities of Legacy Crestwood, Legacy Inergy 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, we 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 our 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 we fail to perform our 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 ours. | ||||||||||||||||
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 our 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 our 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 our 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 our 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. | ||||||||||||||||
Senior Notes | ||||||||||||||||
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 placement 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) the Company and Crestwood Midstream 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 the Company and Finance Corp. under the 2020 Senior Notes described below; (iii) the Company’s subsidiary guarantors of the 2020 Senior Notes guaranteed obligations of Legacy Crestwood and Legacy Crestwood Finance 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 our 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 its indentures; and (iii) legal or covenant defeasance of a series of senior notes, or satisfaction and discharge of the related indenture. | ||||||||||||||||
The indenture restricts our ability and the ability of our restricted subsidiaries to, among other things, sell assets; redeem or repurchase subordinated debt; make investments; incur or guarantee additional indebtedness or issued preferred units; create or incur certain liens; enter into agreements that restrict distributions or other payments to us from our restricted subsidiaries; consolidate, merge or transfer all of substantially all of our 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. | ||||||||||||||||
2020 Senior Notes. On December 7, 2012, Legacy Inergy and Finance Corp. (collectively, the “Issuers”) issued and sold $500 million in a private offering in aggregate principal amount of their 6.0% Senior Notes due 2020 (the “2020 Senior Notes”) pursuant to a purchase agreement dated November 29, 2012. 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 our 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 its indentures; and (iii) legal or covenant defeasance of a series of senior notes, or satisfaction and discharge of the related indenture. | ||||||||||||||||
The indenture restricts our ability and the ability of our restricted subsidiaries to, among other things: sell assets; pay distributions on, redeem or repurchase our units or redeem or repurchase our 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 from our restricted subsidiaries to us; consolidate, merge or transfer all or substantially all of our assets; engage in transactions with affiliates; 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. | ||||||||||||||||
2022 Senior Notes. On October 22, 2013, we launched a private placement of $600 million in aggregate principal amount of new 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 all of our domestic restricted subsidiaries (other than Finance Corp.), subject to certain exceptions. We 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 our 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 its indentures; and (iii) legal or covenant defeasance of a series of senior notes, or satisfaction and discharge of the related indenture. | ||||||||||||||||
The indenture restricts our ability and the ability of our 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 us from our restricted subsidiaries; consolidate, merge or transfer all of substantially all of our 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, we were in compliance with all of our debt covenants. | ||||||||||||||||
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 | $ | 2.9 | ||||||||||||||
2015 | — | |||||||||||||||
2016 | — | |||||||||||||||
2017 | — | |||||||||||||||
2018 | 412 | |||||||||||||||
Thereafter | 1,450.00 | |||||||||||||||
Total debt | $ | 1,864.90 | ||||||||||||||
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
No provision for federal or state income taxes is included in our results of operations as such income is taxable directly to the partners. Accordingly, each partner is responsible for its share of federal and state income tax. Net earnings for financial statement purposes may differ significantly from taxable income reportable to each partner as a result of differences between the tax basis and financial reporting basis of assets and liabilities. | |
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 [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, Legacy Inergy and Crestwood Midstream. | ||||||||||||||||||
Issuer | Issuance Date | Units | Per Unit | Per Unit | Net | |||||||||||||
Gross Price | Net Price (1) | Proceeds | ||||||||||||||||
Legacy Crestwood | 1-Apr-11 | 6,243,000 | (2) | $ | 24.5 | $ | — | $ | 152.7 | |||||||||
Legacy Crestwood | 4-May-11 | 1,800,000 | 30.65 | 29.75 | 53.6 | |||||||||||||
Legacy Crestwood | 13-Jan-12 | 3,500,000 | 30.73 | 29.5 | 103.1 | |||||||||||||
Legacy Crestwood | 25-Jul-12 | 4,600,000 | (3) | 26 | 24.97 | 114.4 | ||||||||||||
Legacy Crestwood | 22-Mar-13 | 5,175,000 | (4) | 23.9 | 23 | 118.5 | ||||||||||||
Legacy Inergy | 13-Sep-13 | 11,773,191 | (5) | 22.5 | 21.69 | 255.2 | ||||||||||||
Crestwood Midstream | 23-Oct-13 | 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 | ||||||||||||||||||
Prior to the Crestwood Merger, Legacy Crestwood’s Second Amended and Restated Agreement of Limited Partnership, dated February 19, 2008, as amended ("Legacy Crestwood Partnership Agreement"), required that, within 45 days after the end of each quarter, they distribute all of their available cash (as defined therein) to unitholders of record on the applicable record date, as determined by its general partner. Legacy Crestwood’s minimum quarterly distribution was $0.30 per unit, to the extent they had sufficient cash flows from operations after the establishment of cash reserve and payment of fees and expenses, including payments to its general partner. | ||||||||||||||||||
Following the Crestwood Merger, our partnership agreement requires us to distribute, within 45 days after the end of each quarter, all available cash (as defined in our partnership agreement) to common unitholders of record on the applicable record date. The general partner is not be entitled to distributions on its non-economic general partner interest. | ||||||||||||||||||
Distributions to General Partner | ||||||||||||||||||
During the years ended December 31, 2013 and 2012, the general partner received cash distributions (representing IDRs and distributions related to general partner units held) of approximately $26.2 million and $25.8 million. | ||||||||||||||||||
Distributions to Limited Partners | ||||||||||||||||||
The following tables present quarterly cash distributions associated with Legacy Crestwood and Legacy Inergy (as noted below): | ||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||
Record Date | Payment Date | Per Unit Rate | Cash Distributions | |||||||||||||||
(in millions) | ||||||||||||||||||
January 31, 2013 | February 12, 2013 | $ | 0.51 | $ | 21 | |||||||||||||
April 30, 2013 | May 10, 2013 | $ | 0.51 | 27.4 | ||||||||||||||
August 1, 2013 | August 9, 2013 | $ | 0.51 | 27.4 | ||||||||||||||
August 7, 2013 | August 14, 2013 | $ | 0.4 | 34.3 | (1) | |||||||||||||
November 7, 2013 | November 14, 2013 | $ | 0.405 | 69.5 | (1) | |||||||||||||
$ | 179.6 | |||||||||||||||||
-1 | Represents distributions associated with Legacy Inergy limited partner units. | |||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||
Record Date | Payment Date | Per Unit Rate | Cash Distributions | |||||||||||||||
(in millions) | ||||||||||||||||||
January 31, 2012 | February 10, 2012 | $ | 0.49 | $ | 17.9 | |||||||||||||
May 1, 2012 | May 11, 2012 | $ | 0.5 | 18.2 | ||||||||||||||
August 2, 2012 | August 10, 2012 | $ | 0.5 | 20.6 | ||||||||||||||
October 30, 2012 | November 9, 2012 | $ | 0.51 | 21 | ||||||||||||||
$ | 77.7 | |||||||||||||||||
On February 14, 2014, we paid a distribution of $0.41 per limited partner unit to unitholders of record on February 7, 2014 with respect to the fourth quarter of 2013. | ||||||||||||||||||
Other Partners' Capital Transactions | ||||||||||||||||||
Crestwood Merger | ||||||||||||||||||
As discussed in Note 1, in conjunction with the Crestwood Merger, Legacy Crestwood unitholders received 1.07 units of Legacy Inergy 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 contributions from general partner for the year ended December 31, 2013. We reflected the distribution of $34.9 million as distributions to partners on our consolidated statements of partners’ capital for the year ended December 31, 2013. | ||||||||||||||||||
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 a contribution from 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, we issued 8,826,125 common units as partial consideration of the Arrow Acquisition. See Note 4 for additional information regarding the Arrow Acquisition. | ||||||||||||||||||
Other. During the year ended December 31, 2013, we received a contribution of approximately $5.5 million related to reimbursements of costs pursuant to our omnibus agreement with CEQP. | ||||||||||||||||||
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 approximately $96.1 million (which consisted of the initial contribution of $80.6 million and additional capital contributions of approximately $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. We serve as the managing member of Crestwood Niobrara and, subject to certain restrictions, we have the ability to redeem GE’s preferred interest in either cash or our 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_Notes
Equity Plan (Notes) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Equity [Abstract] | ' | |||||||||||||
Equity Plan | ' | |||||||||||||
Equity Plan | ||||||||||||||
Legacy Inergy | ||||||||||||||
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 the earlier of their original vesting date, or either 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, 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 Legacy Crestwood's 2007 Equity Plan (the "2007 Equity Plan"). We terminated the 2007 Equity Plan in conjunction with the Crestwood Merger. All unvested phantom and restricted units awarded under the plan 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. We 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. We 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 us 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 we withhold these common units, we 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, we 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. |
Asset_Retirement_Obligations_N
Asset Retirement Obligations (Notes) | 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 were 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, filed May 23, 2013); (ii) Greg Podell v. Crestwood Midstream Partners, LP, et al. (Case No. 4:13-cv-01599, filed May 30, 2013); (iii) Johnny Cooper v. Crestwood Midstream Partners LP, et al. (Case No. 4:13-cv-01660, filed June 7, 2013), subsequently replaced as named plaintiff in this action by Linda Giaimo; and (iv) Steven Elliot LLC v. Robert G. Phillips, et al. (Case No. 4:13-cv-01763, June 17, 2013), and one in the Delaware Court of Chancery: Hawley v. Crestwood Midstream Partners LP, et al. (Case No. 8689-VCL, filed June 27, 2013). All the cases named Legacy Crestwood (since merged with the Company), Crestwood Gas Services GP LLC, Crestwood Holdings LLC, the current and former directors of Crestwood Gas Services GP LLC, CEQP, the Company, Crestwood Midstream GP LLC (formerly NRGM GP, LLC), and Intrepid Merger Sub, LLC as defendants. All of the suits were brought by purported holders of common units of Legacy Crestwood, both individually and on behalf of a putative class consisting of holders of common units of Legacy Crestwood. The lawsuits generally alleged, among other things, that the directors of Crestwood Gas Services GP LLC breached their fiduciary duties to holders of common units of Legacy Crestwood by agreeing to a transaction with inadequate consideration and unfair terms and pursuant to an inadequate process. The lawsuits further alleged that CEQP, the Company, 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 sought, 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. The four federal actions also asserted claims of inadequate disclosure under Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, and the Elliot case also named 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 been granted by the Court, such that the Hawley action has now been dismissed. The plaintiff in the Elliot action filed a motion for expedited discovery, which was denied 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, Legacy Inergy 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 Legacy Inergy 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) Legacy Inergy refused to enter into definitive agreements under which Anadarko would acquire a 25% interest in the pipeline and, by doing so, Legacy Inergy breached the letter of intent, and (iii) by refusing to enter into definitive agreements, Legacy Inergy 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, Legacy Inergy and Anadarko entered into a confidential settlement agreement to resolve any and all claims relating to the litigation. CEQP has reimbursed us for the amount paid to Anadarko under the settlement agreement pursuant to the omnibus agreement that governs our relationship with CEQP. | ||||
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 our 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 our 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. | ||||
Contingent Consideration - Antero | ||||
In connection with the Antero Acquisition, we 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. We 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 | $ | 2.1 | ||
2015 | 1.7 | |||
2016 | 1.1 | |||
2017 | 0.6 | |||
2018 | 0.2 | |||
Thereafter | — | |||
Total minimum lease payments | $ | 5.7 | ||
Rent expense for operating leases for the years ended December 31, 2013, 2012 and 2011, totaled $7.6 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 approximately $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 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 $48.0 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 CEQP. 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 our 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. | ||||||||||||
We do not have any employees. Prior to the Crestwood Merger, we were managed and operated by the directors and officers of Legacy Crestwood’s general partner. We had an omnibus agreement with Crestwood Holdings and the Legacy Crestwood general partner under which Legacy Crestwood reimbursed Crestwood Holdings for the provision of various general and administrative services for its benefit and for direct expenses incurred by Crestwood Holdings on its behalf. Crestwood Holdings billed Legacy Crestwood directly for certain general and administrative costs and allocated a portion of its general and administrative costs to Legacy Crestwood. Concurrent with the Crestwood Merger, we have an Omnibus Agreement with CEQP that requires us to reimburse CEQP for all shared costs incurred on its behalf, except for certain unit based compensation which are treated as capital 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 | ||||||
NGL and crude services revenues | $ | 7.2 | $ | — | $ | — | ||||||
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 | $ | 1.1 | $ | 23.8 | ||||||||
Accounts payable | $ | 3.3 | $ | 3.1 | ||||||||
Accrued expenses and other liabilities | $ | 5.4 | $ | — | ||||||||
Following the closing of the Crestwood Merger on October 7, 2013, Crestwood Holdings exchanged 7,100,000 of our common units for 14,300,000 of CEQP 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 Crestwood Merger 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 gathering, storage and transportation 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 transportations services to third parties. Our corporate operations include all general and administrative expenses that are not allocated to the 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) | $ | (15.1 | ) | $ | 38.9 | $ | 45 | |||||||||||||
Add: | ||||||||||||||||||||
Interest and debt expense, net | 71.4 | 35.8 | 27.6 | |||||||||||||||||
Provision for income taxes | 0.7 | 1.2 | 1.3 | |||||||||||||||||
Depreciation, amortization and accretion | 121.7 | 51.9 | 33.8 | |||||||||||||||||
EBITDA | $ | 178.7 | $ | 127.8 | $ | 107.7 | ||||||||||||||
The following tables summarize the reportable segment data for the years ended December 31, 2013, 2012 and 2011 (in millions). | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
Gathering and Processing | NGL and Crude Services | Storage and Transportation | Corporate | Total | ||||||||||||||||
Operating revenues | $ | 291.2 | $ | 277.3 | $ | 90.1 | $ | — | $ | 658.6 | ||||||||||
Costs of product/services sold | 56.6 | 230.4 | 8.7 | — | 295.7 | |||||||||||||||
Operating and administrative expense | 54.9 | 8.5 | 9.9 | 80.7 | 154 | |||||||||||||||
Goodwill impairment | (4.1 | ) | — | — | — | (4.1 | ) | |||||||||||||
Gain on long-lived assets | 5.4 | — | — | — | 5.4 | |||||||||||||||
Loss on contingent consideration | (31.4 | ) | — | — | — | (31.4 | ) | |||||||||||||
Earnings (loss) from unconsolidated affiliates, net | 0.1 | (0.2 | ) | — | — | (0.1 | ) | |||||||||||||
EBITDA | $ | 149.7 | $ | 38.2 | $ | 71.5 | $ | (80.7 | ) | $ | 178.7 | |||||||||
Goodwill | $ | 99.6 | $ | 646.7 | $ | 936.5 | $ | — | $ | 1,682.80 | ||||||||||
Total assets | $ | 1,836.40 | $ | 2,217.30 | $ | 2,190.50 | $ | 157.6 | $ | 6,401.80 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 271.2 | $ | 52.1 | $ | 10.3 | $ | 1 | $ | 334.6 | ||||||||||
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 | |||||||||||||||
EBITDA | $ | 157.4 | $ | — | $ | — | $ | (29.6 | ) | $ | 127.8 | |||||||||
Goodwill | $ | 95 | $ | — | $ | — | $ | — | $ | 95 | ||||||||||
Total assets | $ | 1,587.90 | $ | — | $ | — | $ | 22.7 | $ | 1,610.60 | ||||||||||
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 | |||||||||||||||
EBITDA | $ | 131.8 | $ | — | $ | — | $ | (24.1 | ) | $ | 107.7 | |||||||||
Goodwill | $ | 93.6 | $ | — | $ | — | $ | — | $ | 93.6 | ||||||||||
Total assets | $ | 1,008.60 | $ | — | $ | — | $ | 18.3 | $ | 1,026.90 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 47.8 | $ | — | $ | — | $ | 0.6 | $ | 48.4 | ||||||||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information (Notes) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [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 Crestwood Midstream Revolver are jointly and severally guaranteed by substantially all of our restricted domestic subsidiaries, except for Crestwood Niobrara and Crestwood Crude Logistics LLC (Non-Guarantor Subsidiaries). 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. | ||||||||||||||||||||
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 and for the year ended December 31, 2013. As discussed in Note 2, the Crestwood Merger was accounted for as a reverse merger between entities under common control, and as such, changes in the composition of guarantors and non-guarantors should be reflected retrospectively based on the guarantor structure that existed as of the end of the most recent balance sheet. Accordingly, we have not reflected condensed consolidating financial information as of and for the years ended December 31, 2012 or 2011 because our unrestricted subsidiaries were not formed or were not designated as unrestricted subsidiaries as of December 31, 2012 and 2011. | ||||||||||||||||||||
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 | $ | 1.6 | $ | 1 | $ | — | $ | 2.7 | ||||||||||
Accounts receivable | 466.8 | 197.8 | 0.2 | (459.7 | ) | 205.1 | ||||||||||||||
Inventories | — | 7 | — | — | 7 | |||||||||||||||
Other current assets | — | 10.2 | — | — | 10.2 | |||||||||||||||
Total current assets | 466.9 | 216.6 | 1.2 | (459.7 | ) | 225 | ||||||||||||||
Property, plant and equipment, net | 4.8 | 3,345.30 | — | — | 3,350.10 | |||||||||||||||
Goodwill and intangible assets, net | — | 2,653.60 | — | — | 2,653.60 | |||||||||||||||
Investment in consolidated affiliates | 6,385.20 | — | — | (6,385.2 | ) | — | ||||||||||||||
Investment in unconsolidated affiliates | — | — | 151.4 | — | 151.4 | |||||||||||||||
Other assets | — | 21.7 | — | — | 21.7 | |||||||||||||||
Total assets | $ | 6,856.90 | $ | 6,237.20 | $ | 152.6 | $ | (6,844.9 | ) | $ | 6,401.80 | |||||||||
Liabilities and partners' capital | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | 782.7 | $ | (165.2 | ) | $ | — | $ | (459.7 | ) | $ | 157.8 | ||||||||
Other current liabilities | 11.5 | 145 | 0.2 | — | 156.7 | |||||||||||||||
Total current liabilities | 794.2 | (20.2 | ) | 0.2 | (459.7 | ) | 314.5 | |||||||||||||
Long-term liabilities: | ||||||||||||||||||||
Long-term debt, less current portion | 1,867.90 | — | — | — | 1,867.90 | |||||||||||||||
Other long-term liabilities | 1.7 | 24.6 | — | — | 26.3 | |||||||||||||||
Total long-term liabilities | 1,869.60 | 24.6 | — | — | 1,894.20 | |||||||||||||||
Partners' capital | 4,092.10 | 6,232.80 | 51.4 | (6,284.2 | ) | 4,092.10 | ||||||||||||||
Interest of non-controlling partners in subsidiaries | 101 | — | 101 | (101.0 | ) | 101 | ||||||||||||||
Total partners' capital | 4,193.10 | 6,232.80 | 152.4 | (6,385.2 | ) | 4,193.10 | ||||||||||||||
Total liabilities and partners' capital | $ | 6,856.90 | $ | 6,237.20 | $ | 152.6 | $ | (6,844.9 | ) | $ | 6,401.80 | |||||||||
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 | — | 270.1 | — | — | 270.1 | |||||||||||||||
Storage and transportation | — | 90.1 | — | — | 90.1 | |||||||||||||||
Related party | — | 82.1 | — | — | 82.1 | |||||||||||||||
— | 658.6 | — | — | 658.6 | ||||||||||||||||
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ||||||||||||||||||||
Gathering and processing | — | 24.1 | — | — | 24.1 | |||||||||||||||
NGL and crude services | — | 230.4 | — | — | 230.4 | |||||||||||||||
Storage and transportation | — | 8.7 | — | — | 8.7 | |||||||||||||||
Related party | — | 32.5 | — | — | 32.5 | |||||||||||||||
— | 295.7 | — | — | 295.7 | ||||||||||||||||
Expenses: | ||||||||||||||||||||
Operating and administrative | 46.5 | 107.5 | — | — | 154 | |||||||||||||||
Depreciation, amortization and accretion | 1 | 120.7 | — | — | 121.7 | |||||||||||||||
47.5 | 228.2 | — | — | 275.7 | ||||||||||||||||
Other operating income (expense): | ||||||||||||||||||||
Loss on contingent consideration | — | (31.4 | ) | — | — | (31.4 | ) | |||||||||||||
Other | — | 1.3 | — | — | 1.3 | |||||||||||||||
Operating income | (47.5 | ) | 104.6 | — | — | 57.1 | ||||||||||||||
Interest and debt expense, net | (68.7 | ) | (2.7 | ) | — | — | (71.4 | ) | ||||||||||||
Equity in net income (loss) of subsidiary | 101.1 | — | — | (101.1 | ) | — | ||||||||||||||
Other | — | — | (0.1 | ) | — | (0.1 | ) | |||||||||||||
Income (loss) before income taxes | (15.1 | ) | 101.9 | (0.1 | ) | (101.1 | ) | (14.4 | ) | |||||||||||
Provision for income taxes | — | 0.7 | — | — | 0.7 | |||||||||||||||
Net income (loss) | (15.1 | ) | 101.2 | (0.1 | ) | (101.1 | ) | (15.1 | ) | |||||||||||
Net (income) loss attributable to non-controlling partners | — | — | (4.9 | ) | — | (4.9 | ) | |||||||||||||
Net income (loss) attributable to Crestwood Midstream Partners LP | (15.1 | ) | 101.2 | (5.0 | ) | (101.1 | ) | (20.0 | ) | |||||||||||
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: | $ | 3.9 | $ | 216.4 | $ | — | $ | (33.8 | ) | $ | 186.5 | |||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Acquisitions, net of cash acquired | — | (561.5 | ) | — | — | (561.5 | ) | |||||||||||||
Purchases of property, plant and equipment | (1.0 | ) | (333.6 | ) | — | — | (334.6 | ) | ||||||||||||
Investment in unconsolidated affiliates, net | — | (24.4 | ) | (127.1 | ) | — | (151.5 | ) | ||||||||||||
Capital contribution from consolidated affiliates | (82.0 | ) | — | — | 82 | — | ||||||||||||||
Other | (0.4 | ) | 11.1 | — | 0.4 | 11.1 | ||||||||||||||
Net cash provided by (used in) investing activities | (83.4 | ) | (908.4 | ) | (127.1 | ) | 82.4 | (1,036.5 | ) | |||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Proceeds from the issuance of long-term debt | 382.9 | 1,689.90 | — | — | 2,072.80 | |||||||||||||||
Principal payments on long-term debt | (202.0 | ) | (1,432.3 | ) | — | — | (1,634.3 | ) | ||||||||||||
Distributions paid | (219.3 | ) | (174.2 | ) | — | 33.8 | (359.7 | ) | ||||||||||||
Contributions from parent | — | 55.5 | 32 | (82.0 | ) | 5.5 | ||||||||||||||
Net proceeds from issuance of common units | 118.5 | 595.5 | — | — | 714 | |||||||||||||||
Net proceeds from issuance of preferred equity | — | — | 96.1 | — | 96.1 | |||||||||||||||
Payments on capital leases | (0.4 | ) | (3.9 | ) | — | — | (4.3 | ) | ||||||||||||
Taxes paid for unit-based compensation vesting | — | (5.5 | ) | — | — | (5.5 | ) | |||||||||||||
Payments for deferred financing costs | (0.1 | ) | (31.9 | ) | — | — | (32.0 | ) | ||||||||||||
Net change in payables to affiliates | — | 0.4 | — | (0.4 | ) | — | ||||||||||||||
Net cash provided by financing activities | 79.6 | 693.5 | 128.1 | (48.6 | ) | 852.6 | ||||||||||||||
Net increase in cash | 0.1 | 1.5 | 1 | — | 2.6 | |||||||||||||||
Cash at beginning of period | — | 0.1 | — | — | 0.1 | |||||||||||||||
Cash at end of period | $ | 0.1 | $ | 1.6 | $ | 1 | $ | — | $ | 2.7 | ||||||||||
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Data (Unaudited) | ' | ||||||||||||||||
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 | $ | 80.1 | $ | 140.1 | $ | 366 | |||||||||
Operating income (loss) | 20.7 | 19.5 | 31.8 | (14.9 | ) | (b) | |||||||||||
Earnings (loss) from unconsolidated affiliates | — | — | (0.4 | ) | 0.3 | ||||||||||||
Net income (loss) | 8.9 | 6.7 | 11.6 | (42.3 | ) | ||||||||||||
Net income (loss) attributable to partners | 8.9 | 6.7 | 9.7 | (45.3 | ) | ||||||||||||
Net income (loss) per limited partner unit:(a) | |||||||||||||||||
Basic(c) | $ | 0.06 | $ | (0.02 | ) | $ | 0.05 | $ | (0.50 | ) | |||||||
Diluted(c) | $ | 0.06 | $ | (0.02 | ) | $ | 0.05 | $ | (0.50 | ) | |||||||
2012 | |||||||||||||||||
Revenues | $ | 53.8 | $ | 55.2 | $ | 63 | $ | 67.5 | |||||||||
Operating income | 17.7 | 16 | 23.6 | 18.6 | |||||||||||||
Net income | 9.8 | 6.8 | 14.4 | 7.9 | |||||||||||||
Net income per limited partner unit:(a) | |||||||||||||||||
Basic | $ | 0.1 | $ | 0.04 | $ | 0.11 | $ | 0.01 | |||||||||
Diluted | $ | 0.1 | $ | 0.04 | $ | 0.11 | $ | 0.01 | |||||||||
(a) | Basic and diluted net income for each of the quarters ended September 30, 2013 and each of the quarters ended December 31, 2012, were computed based on the number of common units issued by Legacy Inergy to Legacy Crestwood unitholders as part of the Crestwood Merger. | ||||||||||||||||
(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 12 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. |
Basis_of_Presentation_and_Summ1
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Principals of Consolidation | ' | |
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 | ' | |
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 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 $1.6 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. | ||
For the years ended December 31, 2013, 2012 and 2011, Quicksilver Resources Inc. ("Quicksilver") accounted for approximately 15%, 47% and 64% of our total consolidated revenues. For the years ended December 31, 2013 and 2012, Antero Resources Appalachian Corporation ("Antero") accounted for approximately 10% and 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 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 | 10-May | |
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 and Goodwill | ' | |
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 | 19 | |
Covenants not to compete | 3 | |
Trademarks | 5 | |
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 | ' | |
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. | ||
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 our 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 | ' | |
Cash and Cash Equivalents | ||
We define cash equivalents as all highly liquid investments with maturities of three months or less when purchased. | ||
Allocation of Expenses | ' | |
Allocation of Expenses | ||
We share common management, operating and administrative and overhead costs with CEQP. CEQP allocated to us $9.5 million of costs for the year ended December 31, 2013. Included in this amount was $4.4 million of unit-based compensation charges. We have an omnibus agreement with CEQP that requires us to reimburse CEQP for all shared costs incurred on its behalf, except for certain unit based compensation costs which are treated as capital transactions. Due to the nature of these shared costs, it is not practicable to estimate what the costs would have been on a stand-alone basis. Accordingly, the accompanying financial statements may not necessarily be indicative of the conditions that would have existed, or the results of operations that would have occurred, if we operated as a stand-alone entity. | ||
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. At December 31, 2013 and 2012, our AROs were reflected in other long-term liabilities on our consolidated balance sheets. See Note 11 for a discussion of our AROs. | ||
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. | ||
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. See Note 10 for a further discussion of our equity 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 14 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 | ||
Accounting Policies [Abstract] | ' | |
Estimated Useful Lives of Assets | ' | |
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 | 10-May | |
Vehicles | 5 | |
Estimated Economic Lives of Identifiable 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 | 19 | |
Covenants not to compete | 3 | |
Trademarks | 5 | |
Deferred financing costs | 6 |
Certain_Balance_Sheet_Informat1
Certain Balance Sheet Information (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Components of Inventories | ' | |||||||
Inventory consisted of the following at December 31, 2013 (in millions). Legacy Crestwood did not have inventory at December 31, 2012. | ||||||||
December 31, | ||||||||
2013 | ||||||||
Parts and supplies | $ | 4.5 | ||||||
Crude oil | 1.4 | |||||||
Raw materials | 0.4 | |||||||
Finished goods | 0.7 | |||||||
Total inventory | $ | 7 | ||||||
Components of 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 | 1,231.10 | 451 | ||||||
Facilities and equipment | 1,041.00 | 491.3 | ||||||
Salt deposits | 120.5 | — | ||||||
Buildings, rights-of-way and easements | 84.2 | 64.2 | ||||||
Land and storage rights | 682 | 4.7 | ||||||
Vehicles | 4.1 | 0.3 | ||||||
Construction in process | 360.5 | 56.1 | ||||||
Base gas | 36.3 | — | ||||||
Office furniture and fixtures | 6 | 2.3 | ||||||
3,565.70 | 1,069.90 | |||||||
Less: accumulated depreciation and depletion | 215.6 | 130 | ||||||
Total property, plant and equipment, net | $ | 3,350.10 | $ | 939.9 | ||||
Components of Intangible Assets | ' | |||||||
Intangible assets consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Customer accounts | $ | 476.4 | $ | — | ||||
(accumulated amortization—customer accounts) | (13.4 | ) | — | |||||
Covenants not to compete | 3 | — | ||||||
(accumulated amortization—covenants not to compete) | (0.6 | ) | — | |||||
Trademarks | 11 | — | ||||||
(accumulated amortization - trademarks) | (0.3 | ) | — | |||||
Gas gathering, compression and processing contracts | 451.4 | 514.2 | ||||||
(accumulated amortization—gas gathering, compression and processing contracts) | (27.9 | ) | (12.7 | ) | ||||
Acquired storage contracts | 29 | — | ||||||
(accumulated amortization—acquired storage contracts) | (4.0 | ) | — | |||||
Deferred financing and other costs | 54.3 | 32.2 | ||||||
(accumulated amortization—deferred financing costs) | (8.1 | ) | (9.7 | ) | ||||
Total intangible assets, net | $ | 970.8 | $ | 524 | ||||
Schedule of Finite-Lived 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 | $ | 76.5 | ||||||
2015 | 81.2 | |||||||
2016 | 71.3 | |||||||
2017 | 61.4 | |||||||
2018 | 52.7 | |||||||
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 | $ | 25.4 | $ | 9.6 | ||||
Accrued property taxes | 7.6 | 5.6 | ||||||
Accrued product purchases payable | 1.6 | 2.5 | ||||||
Tax payable | 10.6 | 2.2 | ||||||
Interest payable | 14.9 | 7.5 | ||||||
Accrued additions to property, plant and equipment | 58.1 | 9.2 | ||||||
Commitments and contingent liabilities (Note 12) | 31.4 | — | ||||||
Capital leases | 2.6 | 3.9 | ||||||
Deferred revenue | 1.6 | 2.6 | ||||||
Total accrued expenses and other liabilities | $ | 153.8 | $ | 43.1 | ||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Pro Forma Consolidated Statements of Operations | ' | |||||||||||
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 our 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 | 2011 | ||||||||||
Revenues | $ | 2,083.30 | $ | 1,184.50 | $ | 606.4 | ||||||
Net income (loss) | $ | (21.0 | ) | $ | 50.1 | $ | 62.4 | |||||
Net income (loss) per limited partner unit(a): | ||||||||||||
Basic | $ | (0.61 | ) | $ | 0.29 | $ | 0.36 | |||||
Diluted | $ | (0.61 | ) | $ | 0.29 | $ | 0.36 | |||||
Inergy Midstream | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||||||||
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the merger date (in millions): | ||||||||||||
Current assets | $ | 49 | ||||||||||
Property, plant and equipment | 1,677.80 | |||||||||||
Intangible assets | 196 | |||||||||||
Other assets | 2.9 | |||||||||||
Total identifiable assets acquired | 1,925.70 | |||||||||||
Current liabilities | 30.8 | |||||||||||
Long-term debt | 745 | |||||||||||
Other long-term liabilities | 5.3 | |||||||||||
Total liabilities assumed | 781.1 | |||||||||||
Net identifiable assets acquired | 1,144.60 | |||||||||||
Goodwill | 1,537.70 | |||||||||||
Net assets acquired | $ | 2,682.30 | ||||||||||
Arrow Midstream Holdings, LLC | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||||||||
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 | ||||||||||
Devon | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||||||||
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 | ||||||||||
EMAC | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||||||||
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 | ||||||||||
Earnings_Limited_Partner_Unit_1
Earnings Limited Partner Unit (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of Other Nonoperating Income (Expense) | ' | |||||||||||
The tables below show the (i) allocation of net income attributable to limited partners and the (ii) net income attributable to CMLP per limited partner unit based on the number of basic and diluted limited partner units outstanding for the years ended December 31, 2013, 2012 and 2011 (in millions): | ||||||||||||
Allocation of Net Income Attributable to CMLP to General Partner and Limited Partners | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net income (loss) attributable to CMLP | $ | (20.0 | ) | $ | 38.9 | $ | 45 | |||||
General partner’s incentive distributions | (26.4 | ) | (14.8 | ) | (7.0 | ) | ||||||
Net income (loss) attributable to CMLP after incentive distributions | (46.4 | ) | 24.1 | 38 | ||||||||
General partner’s interest in net income attributable to CMLP after incentive distributions | (0.4 | ) | (7.4 | ) | (0.7 | ) | ||||||
Payment to Legacy Crestwood unitholders | (34.9 | ) | — | — | ||||||||
Limited partners’ interest in net income (loss) attributable to CMLP after incentive distributions | $ | (81.7 | ) | $ | 16.7 | $ | 37.3 | |||||
Schedule of Earnings Per Share Reconciliation | ' | |||||||||||
Earnings Per Limited Partner Unit | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Limited partners’ interest in net income (loss) | $ | (81.7 | ) | $ | 16.7 | $ | 37.3 | |||||
Weighted-average limited partner units - basic | 99.2 | 64.7 | 64.7 | |||||||||
Effect of diluted units | — | — | — | |||||||||
Weighted-average limited partner units - diluted | 99.2 | 64.7 | 64.7 | |||||||||
Basic earnings per unit: | ||||||||||||
Net income (loss) per limited partner | $ | (0.82 | ) | $ | 0.26 | $ | 0.58 | |||||
Diluted earnings per unit: | ||||||||||||
Net income (loss) per limited partner | $ | (0.82 | ) | $ | 0.26 | $ | 0.58 | |||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | ' | |||||||||||||||
The following table reflects the carrying value and fair value of our senior notes (in millions): | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying Amount | Fair | Carrying Amount | Fair | |||||||||||||
Value | Value | |||||||||||||||
2022 senior unsecured notes | $ | 600 | $ | 617.3 | $ | — | $ | — | ||||||||
2019 senior unsecured notes | $ | 351.2 | $ | 379.3 | $ | 351.5 | $ | 365.9 | ||||||||
2020 senior unsecured notes | $ | 504.7 | $ | 513.8 | $ | — | $ | — | ||||||||
Schedule of Debt | ' | |||||||||||||||
Long-term debt consisted of the following at December 31, 2013 and 2012 (in millions): | ||||||||||||||||
December 31, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Crestwood Midstream Revolver | $ | 414.9 | $ | — | ||||||||||||
Legacy Crestwood credit facility | — | 206.7 | ||||||||||||||
2019 Senior Notes | 350 | 350 | ||||||||||||||
Premium on 2019 Senior Notes | 1.2 | 1.5 | ||||||||||||||
CMM credit facility | — | 127 | ||||||||||||||
2020 Senior Notes | 500 | — | ||||||||||||||
Fair value adjustment of 2020 Senior Notes | 4.7 | — | ||||||||||||||
2022 Senior Notes | 600 | — | ||||||||||||||
Total debt | 1,870.80 | 685.2 | ||||||||||||||
Less: current portion | 2.9 | — | ||||||||||||||
Total long-term debt | $ | 1,867.90 | $ | 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 | $ | 2.9 | ||||||||||||||
2015 | — | |||||||||||||||
2016 | — | |||||||||||||||
2017 | — | |||||||||||||||
2018 | 412 | |||||||||||||||
Thereafter | 1,450.00 | |||||||||||||||
Total debt | $ | 1,864.90 | ||||||||||||||
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, Legacy Inergy and Crestwood Midstream. | ||||||||||||||||||
Issuer | Issuance Date | Units | Per Unit | Per Unit | Net | |||||||||||||
Gross Price | Net Price (1) | Proceeds | ||||||||||||||||
Legacy Crestwood | 1-Apr-11 | 6,243,000 | (2) | $ | 24.5 | $ | — | $ | 152.7 | |||||||||
Legacy Crestwood | 4-May-11 | 1,800,000 | 30.65 | 29.75 | 53.6 | |||||||||||||
Legacy Crestwood | 13-Jan-12 | 3,500,000 | 30.73 | 29.5 | 103.1 | |||||||||||||
Legacy Crestwood | 25-Jul-12 | 4,600,000 | (3) | 26 | 24.97 | 114.4 | ||||||||||||
Legacy Crestwood | 22-Mar-13 | 5,175,000 | (4) | 23.9 | 23 | 118.5 | ||||||||||||
Legacy Inergy | 13-Sep-13 | 11,773,191 | (5) | 22.5 | 21.69 | 255.2 | ||||||||||||
Crestwood Midstream | 23-Oct-13 | 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 | ' | |||||||||||||||||
The following tables present quarterly cash distributions associated with Legacy Crestwood and Legacy Inergy (as noted below): | ||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||
Record Date | Payment Date | Per Unit Rate | Cash Distributions | |||||||||||||||
(in millions) | ||||||||||||||||||
January 31, 2013 | February 12, 2013 | $ | 0.51 | $ | 21 | |||||||||||||
April 30, 2013 | May 10, 2013 | $ | 0.51 | 27.4 | ||||||||||||||
August 1, 2013 | August 9, 2013 | $ | 0.51 | 27.4 | ||||||||||||||
August 7, 2013 | August 14, 2013 | $ | 0.4 | 34.3 | (1) | |||||||||||||
November 7, 2013 | November 14, 2013 | $ | 0.405 | 69.5 | (1) | |||||||||||||
$ | 179.6 | |||||||||||||||||
-1 | Represents distributions associated with Legacy Inergy limited partner units. | |||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||
Record Date | Payment Date | Per Unit Rate | Cash Distributions | |||||||||||||||
(in millions) | ||||||||||||||||||
January 31, 2012 | February 10, 2012 | $ | 0.49 | $ | 17.9 | |||||||||||||
May 1, 2012 | May 11, 2012 | $ | 0.5 | 18.2 | ||||||||||||||
August 2, 2012 | August 10, 2012 | $ | 0.5 | 20.6 | ||||||||||||||
October 30, 2012 | November 9, 2012 | $ | 0.51 | 21 | ||||||||||||||
$ | 77.7 | |||||||||||||||||
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 | ' | |||||||||||||
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 | — | $ | — | — | $ | — | ||||||||
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 (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 | $ | 2.1 | ||
2015 | 1.7 | |||
2016 | 1.1 | |||
2017 | 0.6 | |||
2018 | 0.2 | |||
Thereafter | — | |||
Total minimum lease payments | $ | 5.7 | ||
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 | ||||||
NGL and crude services revenues | $ | 7.2 | $ | — | $ | — | ||||||
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 | $ | 1.1 | $ | 23.8 | ||||||||
Accounts payable | $ | 3.3 | $ | 3.1 | ||||||||
Accrued expenses and other liabilities | $ | 5.4 | $ | — | ||||||||
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) | $ | (15.1 | ) | $ | 38.9 | $ | 45 | |||||||||||||
Add: | ||||||||||||||||||||
Interest and debt expense, net | 71.4 | 35.8 | 27.6 | |||||||||||||||||
Provision for income taxes | 0.7 | 1.2 | 1.3 | |||||||||||||||||
Depreciation, amortization and accretion | 121.7 | 51.9 | 33.8 | |||||||||||||||||
EBITDA | $ | 178.7 | $ | 127.8 | $ | 107.7 | ||||||||||||||
The following tables summarize the reportable segment data for the years ended December 31, 2013, 2012 and 2011 (in millions). | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
Gathering and Processing | NGL and Crude Services | Storage and Transportation | Corporate | Total | ||||||||||||||||
Operating revenues | $ | 291.2 | $ | 277.3 | $ | 90.1 | $ | — | $ | 658.6 | ||||||||||
Costs of product/services sold | 56.6 | 230.4 | 8.7 | — | 295.7 | |||||||||||||||
Operating and administrative expense | 54.9 | 8.5 | 9.9 | 80.7 | 154 | |||||||||||||||
Goodwill impairment | (4.1 | ) | — | — | — | (4.1 | ) | |||||||||||||
Gain on long-lived assets | 5.4 | — | — | — | 5.4 | |||||||||||||||
Loss on contingent consideration | (31.4 | ) | — | — | — | (31.4 | ) | |||||||||||||
Earnings (loss) from unconsolidated affiliates, net | 0.1 | (0.2 | ) | — | — | (0.1 | ) | |||||||||||||
EBITDA | $ | 149.7 | $ | 38.2 | $ | 71.5 | $ | (80.7 | ) | $ | 178.7 | |||||||||
Goodwill | $ | 99.6 | $ | 646.7 | $ | 936.5 | $ | — | $ | 1,682.80 | ||||||||||
Total assets | $ | 1,836.40 | $ | 2,217.30 | $ | 2,190.50 | $ | 157.6 | $ | 6,401.80 | ||||||||||
Cash expenditures for property, plant and equipment | $ | 271.2 | $ | 52.1 | $ | 10.3 | $ | 1 | $ | 334.6 | ||||||||||
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 | |||||||||||||||
EBITDA | $ | 157.4 | $ | — | $ | — | $ | (29.6 | ) | $ | 127.8 | |||||||||
Goodwill | $ | 95 | $ | — | $ | — | $ | — | $ | 95 | ||||||||||
Total assets | $ | 1,587.90 | $ | — | $ | — | $ | 22.7 | $ | 1,610.60 | ||||||||||
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 | |||||||||||||||
EBITDA | $ | 131.8 | $ | — | $ | — | $ | (24.1 | ) | $ | 107.7 | |||||||||
Goodwill | $ | 93.6 | $ | — | $ | — | $ | — | $ | 93.6 | ||||||||||
Total assets | $ | 1,008.60 | $ | — | $ | — | $ | 18.3 | $ | 1,026.90 | ||||||||||
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 | ||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||
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 | $ | 1.6 | $ | 1 | $ | — | $ | 2.7 | ||||||||||
Accounts receivable | 466.8 | 197.8 | 0.2 | (459.7 | ) | 205.1 | ||||||||||||||
Inventories | — | 7 | — | — | 7 | |||||||||||||||
Other current assets | — | 10.2 | — | — | 10.2 | |||||||||||||||
Total current assets | 466.9 | 216.6 | 1.2 | (459.7 | ) | 225 | ||||||||||||||
Property, plant and equipment, net | 4.8 | 3,345.30 | — | — | 3,350.10 | |||||||||||||||
Goodwill and intangible assets, net | — | 2,653.60 | — | — | 2,653.60 | |||||||||||||||
Investment in consolidated affiliates | 6,385.20 | — | — | (6,385.2 | ) | — | ||||||||||||||
Investment in unconsolidated affiliates | — | — | 151.4 | — | 151.4 | |||||||||||||||
Other assets | — | 21.7 | — | — | 21.7 | |||||||||||||||
Total assets | $ | 6,856.90 | $ | 6,237.20 | $ | 152.6 | $ | (6,844.9 | ) | $ | 6,401.80 | |||||||||
Liabilities and partners' capital | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | 782.7 | $ | (165.2 | ) | $ | — | $ | (459.7 | ) | $ | 157.8 | ||||||||
Other current liabilities | 11.5 | 145 | 0.2 | — | 156.7 | |||||||||||||||
Total current liabilities | 794.2 | (20.2 | ) | 0.2 | (459.7 | ) | 314.5 | |||||||||||||
Long-term liabilities: | ||||||||||||||||||||
Long-term debt, less current portion | 1,867.90 | — | — | — | 1,867.90 | |||||||||||||||
Other long-term liabilities | 1.7 | 24.6 | — | — | 26.3 | |||||||||||||||
Total long-term liabilities | 1,869.60 | 24.6 | — | — | 1,894.20 | |||||||||||||||
Partners' capital | 4,092.10 | 6,232.80 | 51.4 | (6,284.2 | ) | 4,092.10 | ||||||||||||||
Interest of non-controlling partners in subsidiaries | 101 | — | 101 | (101.0 | ) | 101 | ||||||||||||||
Total partners' capital | 4,193.10 | 6,232.80 | 152.4 | (6,385.2 | ) | 4,193.10 | ||||||||||||||
Total liabilities and partners' capital | $ | 6,856.90 | $ | 6,237.20 | $ | 152.6 | $ | (6,844.9 | ) | $ | 6,401.80 | |||||||||
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 | — | 270.1 | — | — | 270.1 | |||||||||||||||
Storage and transportation | — | 90.1 | — | — | 90.1 | |||||||||||||||
Related party | — | 82.1 | — | — | 82.1 | |||||||||||||||
— | 658.6 | — | — | 658.6 | ||||||||||||||||
Costs of product/services sold (excluding depreciation, amortization and accretion as shown below): | ||||||||||||||||||||
Gathering and processing | — | 24.1 | — | — | 24.1 | |||||||||||||||
NGL and crude services | — | 230.4 | — | — | 230.4 | |||||||||||||||
Storage and transportation | — | 8.7 | — | — | 8.7 | |||||||||||||||
Related party | — | 32.5 | — | — | 32.5 | |||||||||||||||
— | 295.7 | — | — | 295.7 | ||||||||||||||||
Expenses: | ||||||||||||||||||||
Operating and administrative | 46.5 | 107.5 | — | — | 154 | |||||||||||||||
Depreciation, amortization and accretion | 1 | 120.7 | — | — | 121.7 | |||||||||||||||
47.5 | 228.2 | — | — | 275.7 | ||||||||||||||||
Other operating income (expense): | ||||||||||||||||||||
Loss on contingent consideration | — | (31.4 | ) | — | — | (31.4 | ) | |||||||||||||
Other | — | 1.3 | — | — | 1.3 | |||||||||||||||
Operating income | (47.5 | ) | 104.6 | — | — | 57.1 | ||||||||||||||
Interest and debt expense, net | (68.7 | ) | (2.7 | ) | — | — | (71.4 | ) | ||||||||||||
Equity in net income (loss) of subsidiary | 101.1 | — | — | (101.1 | ) | — | ||||||||||||||
Other | — | — | (0.1 | ) | — | (0.1 | ) | |||||||||||||
Income (loss) before income taxes | (15.1 | ) | 101.9 | (0.1 | ) | (101.1 | ) | (14.4 | ) | |||||||||||
Provision for income taxes | — | 0.7 | — | — | 0.7 | |||||||||||||||
Net income (loss) | (15.1 | ) | 101.2 | (0.1 | ) | (101.1 | ) | (15.1 | ) | |||||||||||
Net (income) loss attributable to non-controlling partners | — | — | (4.9 | ) | — | (4.9 | ) | |||||||||||||
Net income (loss) attributable to Crestwood Midstream Partners LP | (15.1 | ) | 101.2 | (5.0 | ) | (101.1 | ) | (20.0 | ) | |||||||||||
Consolidating Statement 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: | $ | 3.9 | $ | 216.4 | $ | — | $ | (33.8 | ) | $ | 186.5 | |||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Acquisitions, net of cash acquired | — | (561.5 | ) | — | — | (561.5 | ) | |||||||||||||
Purchases of property, plant and equipment | (1.0 | ) | (333.6 | ) | — | — | (334.6 | ) | ||||||||||||
Investment in unconsolidated affiliates, net | — | (24.4 | ) | (127.1 | ) | — | (151.5 | ) | ||||||||||||
Capital contribution from consolidated affiliates | (82.0 | ) | — | — | 82 | — | ||||||||||||||
Other | (0.4 | ) | 11.1 | — | 0.4 | 11.1 | ||||||||||||||
Net cash provided by (used in) investing activities | (83.4 | ) | (908.4 | ) | (127.1 | ) | 82.4 | (1,036.5 | ) | |||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Proceeds from the issuance of long-term debt | 382.9 | 1,689.90 | — | — | 2,072.80 | |||||||||||||||
Principal payments on long-term debt | (202.0 | ) | (1,432.3 | ) | — | — | (1,634.3 | ) | ||||||||||||
Distributions paid | (219.3 | ) | (174.2 | ) | — | 33.8 | (359.7 | ) | ||||||||||||
Contributions from parent | — | 55.5 | 32 | (82.0 | ) | 5.5 | ||||||||||||||
Net proceeds from issuance of common units | 118.5 | 595.5 | — | — | 714 | |||||||||||||||
Net proceeds from issuance of preferred equity | — | — | 96.1 | — | 96.1 | |||||||||||||||
Payments on capital leases | (0.4 | ) | (3.9 | ) | — | — | (4.3 | ) | ||||||||||||
Taxes paid for unit-based compensation vesting | — | (5.5 | ) | — | — | (5.5 | ) | |||||||||||||
Payments for deferred financing costs | (0.1 | ) | (31.9 | ) | — | — | (32.0 | ) | ||||||||||||
Net change in payables to affiliates | — | 0.4 | — | (0.4 | ) | — | ||||||||||||||
Net cash provided by financing activities | 79.6 | 693.5 | 128.1 | (48.6 | ) | 852.6 | ||||||||||||||
Net increase in cash | 0.1 | 1.5 | 1 | — | 2.6 | |||||||||||||||
Cash at beginning of period | — | 0.1 | — | — | 0.1 | |||||||||||||||
Cash at end of period | $ | 0.1 | $ | 1.6 | $ | 1 | $ | — | $ | 2.7 | ||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (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 | $ | 80.1 | $ | 140.1 | $ | 366 | |||||||||
Operating income (loss) | 20.7 | 19.5 | 31.8 | (14.9 | ) | (b) | |||||||||||
Earnings (loss) from unconsolidated affiliates | — | — | (0.4 | ) | 0.3 | ||||||||||||
Net income (loss) | 8.9 | 6.7 | 11.6 | (42.3 | ) | ||||||||||||
Net income (loss) attributable to partners | 8.9 | 6.7 | 9.7 | (45.3 | ) | ||||||||||||
Net income (loss) per limited partner unit:(a) | |||||||||||||||||
Basic(c) | $ | 0.06 | $ | (0.02 | ) | $ | 0.05 | $ | (0.50 | ) | |||||||
Diluted(c) | $ | 0.06 | $ | (0.02 | ) | $ | 0.05 | $ | (0.50 | ) | |||||||
2012 | |||||||||||||||||
Revenues | $ | 53.8 | $ | 55.2 | $ | 63 | $ | 67.5 | |||||||||
Operating income | 17.7 | 16 | 23.6 | 18.6 | |||||||||||||
Net income | 9.8 | 6.8 | 14.4 | 7.9 | |||||||||||||
Net income per limited partner unit:(a) | |||||||||||||||||
Basic | $ | 0.1 | $ | 0.04 | $ | 0.11 | $ | 0.01 | |||||||||
Diluted | $ | 0.1 | $ | 0.04 | $ | 0.11 | $ | 0.01 | |||||||||
(a) | Basic and diluted net income for each of the quarters ended September 30, 2013 and each of the quarters ended December 31, 2012, were computed based on the number of common units issued by Legacy Inergy to Legacy Crestwood unitholders as part of the Crestwood Merger. | ||||||||||||||||
(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 12 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. |
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | ||||||
In Millions, except Share data, unless otherwise specified | Jun. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 07, 2013 | Jun. 30, 2013 | Oct. 07, 2013 | Jun. 19, 2013 | Oct. 07, 2013 | Jun. 30, 2013 | Jun. 05, 2013 | Jun. 05, 2013 | Oct. 07, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Oct. 07, 2013 | Oct. 07, 2013 |
segment | CEQP | Parent | Parent | CMLP | Affiliated Entity | Crestwood Holdings | First Reserve | Capital Units | Capital Unit, Class D | CMLP | Distribution Rights | Distribution Rights | Crestwood Holdings | Crestwood Holdings | ||
Majority Shareholder | Majority Shareholder | Affiliated Entity | Affiliated Entity | CEQP | Majority Shareholder | CEQP | ||||||||||
Unit Distribution | Majority Shareholder | Majority Shareholder | ||||||||||||||
Unit Distribution | Unit Distribution | |||||||||||||||
Partnership Organization And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of distribution entitled to receive | ' | ' | ' | ' | 50.00% | ' | ' | ' | 11.00% | ' | ' | ' | ' | 100.00% | ' | ' |
Distribution declared per limited partner unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.37 | ' | ' | ' |
Business Combination, Equity Interest Issued or Issuable, Conversion Ratio | ' | ' | ' | ' | ' | 1.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses | ' | ' | ' | $24.90 | ' | ' | ' | $10 | ' | ' | ' | $34.90 | ' | ' | ' | ' |
Reverse Merger, Exchange Option, Shares Exchanged by Acquirer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,100,000 | ' |
Reverse Merger, Exchange Option, Shares Issued by Acquiree | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,300,000 |
Business Combination, Cash Payments to Unitholders Upon Completion of Merger, Per Unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.03 | ' | ' | ' | ' |
Distribution Made to Limited Partner, Unit Distribution | ' | ' | ' | ' | ' | ' | 56,400,000 | ' | ' | 137,105 | 21,588 | ' | ' | ' | ' | ' |
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 100.00% | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating segments | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis_of_Presentation_and_Summ3
Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
segment | |||||
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Deferred revenue | ' | ' | $1.60 | $2.60 | ' |
Goodwill impairment | ' | 0 | 4.1 | 0 | 0 |
Qualifying Income Percentage | 90.00% | ' | ' | ' | ' |
Operating, administrative and overhead cost | ' | ' | 9.5 | ' | ' |
Number of operating segments | ' | ' | 3 | ' | ' |
Restricted units | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Unit-based compensation charges | ' | ' | 4.9 | ' | ' |
Inergy | Restricted units | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Unit-based compensation charges | ' | ' | $4.40 | ' | ' |
Customer accounts | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | '19 years | ' | ' |
Covenants not to compete | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | '3 years | ' | ' |
Trademarks | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | '5 years | ' | ' |
Deferred financing costs | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | '6 years | ' | ' |
Revenue | Quicksilver | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Percentage of concentration of risk | ' | ' | 15.00% | 47.00% | 64.00% |
Revenue | Antero | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Percentage of concentration of risk | ' | ' | 10.00% | 11.00% | ' |
Accounts Receivable | Quicksilver | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Percentage of concentration of risk | ' | ' | 48.00% | ' | ' |
Accounts Receivable | Antero | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Percentage of concentration of risk | ' | ' | ' | 14.00% | ' |
Credit Concentration Risk | Accounts Receivable | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Concentration Risk, Number | ' | ' | ' | 0 | ' |
Basis_of_Presentation_and_Summ4
Basis of Presentation and Summary of Significant Accounting Policies (Estimated Useful Lives - Phantom) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Gathering systems and pipelines | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '20 years |
Gathering systems and pipelines | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '20 years |
Facilities and equipment | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '20 years |
Facilities and equipment | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '25 years |
Buildings and improvements | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '20 years |
Buildings and improvements | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '40 years |
Office furniture and equipment | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '5 years |
Office furniture and equipment | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '10 years |
Vehicles | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '5 years |
Vehicles | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Property, Plant and Equipment | '5 years |
Certain_Balance_Sheet_Informat2
Certain Balance Sheet Information (Inventories) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Balance Sheet Related Disclosures [Abstract] | ' | ' |
Parts and supplies | $4,500,000 | ' |
Natural gas | 1,400,000 | ' |
Raw materials | 400,000 | ' |
Finished goods | 700,000 | ' |
Total inventory | $7,000,000 | $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 | $3,565.70 | $1,069.90 | ' |
Less: accumulated depreciation and depletion | 215.6 | 130 | ' |
Property, plant and equipment, net | 3,350.10 | 939.9 | ' |
Depreciation | 87.1 | 40.8 | 30.9 |
Depletion | 0.4 | ' | ' |
Capitalized interest | 3.4 | 0.2 | ' |
Capital Leased Assets, Gross | 5 | 7.1 | ' |
Asset Impairment Charges | ' | 1.6 | ' |
Other General and Administrative Expense | ' | 1.3 | ' |
Insurance Settlements Receivable | 1 | 2.9 | ' |
Gain on long-lived assets | 5.4 | 0 | 1.1 |
Proceeds from Sale of Productive Assets | ' | ' | 6 |
Gathering systems and pipelines | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 1,231.10 | 451 | ' |
Facilities and equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 1,041 | 491.3 | ' |
Salt deposits | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 120.5 | 0 | ' |
Buildings, rights-of-way and easements | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 84.2 | 64.2 | ' |
Land and storage rights | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 682 | 4.7 | ' |
Vehicles | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 4.1 | 0.3 | ' |
Construction in process | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 360.5 | 56.1 | ' |
Base gas | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 36.3 | 0 | ' |
Office furniture and equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment | 6 | 2.3 | ' |
Cryogenic plant | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gain on long-lived assets | $4.40 | ' | ' |
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 | ($54.30) | ($22.40) | ' |
Total intangible assets, net | 970.8 | 524 | ' |
Amortization And Interest Expense Relating To Intangible Assets | 43.1 | 15.9 | 5.9 |
Customer accounts | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 476.4 | 0 | ' |
Less: accumulated amortization | -13.4 | 0 | ' |
Covenants not to compete | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 3 | 0 | ' |
Less: accumulated amortization | -0.6 | 0 | ' |
Trademarks | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 11 | 0 | ' |
Less: accumulated amortization | -0.3 | 0 | ' |
Facilities and equipment | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 451.4 | 514.2 | ' |
Less: accumulated amortization | -27.9 | -12.7 | ' |
Acquired storage contracts | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 29 | 0 | ' |
Less: accumulated amortization | -4 | 0 | ' |
Deferred financing and other costs | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, Gross | 54.3 | 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 | $76.50 |
2015 | 81.2 |
2016 | 71.3 |
2017 | 61.4 |
2018 | $52.70 |
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 expenses | $25.40 | $9.60 |
Accrued property taxes | 7.6 | 5.6 |
Accrued product purchases payable | 1.6 | 2.5 |
Tax payable | 10.6 | 2.2 |
Interest payable | 14.9 | 7.5 |
Accrued additions to property, plant and equipment | 58.1 | 9.2 |
Commitments and contingent liabilities (Note 12) | 31.4 | 0 |
Capital leases | 2.6 | 3.9 |
Deferred revenue | 1.6 | 2.6 |
Total accrued expenses and other liabilities | $153.80 | $43.10 |
Acquisitions_Details
Acquisitions (Details) (USD $) | 9 Months Ended | 12 Months Ended | 12 Months Ended | 0 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 | ||||||||||||||||||||||||
Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 08, 2013 | Dec. 31, 2013 | Jun. 19, 2013 | Nov. 08, 2013 | Dec. 31, 2013 | Oct. 08, 2013 | Dec. 31, 2013 | Mar. 26, 2012 | 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, 2011 | Feb. 16, 2011 | Apr. 02, 2011 | Dec. 31, 2011 | Apr. 02, 2011 | Dec. 31, 2011 | Nov. 01, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 19, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | ||||
Inergy Midstream | 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 | Frontier Gas | Granite Wash | Granite Wash | Tristate | Tristate | NGL and Crude Services | NGL and Crude Services | NGL and Crude Services | NGL and Crude Services | Storage and Transportation | Storage and Transportation | Storage and Transportation | |||||||||
acre | mi | Minimum | Average out put by 2018 | acre | hp | ft3 | ft3 | Inergy Midstream | Inergy Midstream | ||||||||||||||||||||||||||||
acre | ft3 | Minimum | mi | acre | mi | mi | |||||||||||||||||||||||||||||||
ft3 | mi | acre | acre | ||||||||||||||||||||||||||||||||||
ft3 | |||||||||||||||||||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Current assets | ' | ' | ' | ' | ' | ' | $49,000,000 | $192,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Property, plant and equipment | ' | ' | ' | ' | ' | ' | 1,677,800,000 | 399,000,000 | ' | ' | ' | ' | ' | ' | 88,600,000 | ' | ' | 53,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Intangible assets | ' | ' | ' | ' | ' | ' | 196,000,000 | 323,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Other assets | ' | ' | ' | ' | ' | ' | 2,900,000 | 19,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total identifiable assets acquired | ' | ' | ' | ' | ' | ' | 1,925,700,000 | 934,100,000 | ' | ' | ' | ' | ' | ' | 88,600,000 | ' | ' | 95,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Current liabilities | ' | ' | ' | ' | ' | ' | 30,800,000 | 213,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Long-term debt | ' | ' | ' | ' | ' | ' | 745,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Other long-term liabilities | ' | ' | ' | ' | ' | ' | 5,300,000 | 3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total liabilities assumed | ' | ' | ' | ' | ' | ' | 781,100,000 | 216,800,000 | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net identifiable assets acquired | ' | ' | ' | ' | ' | ' | 1,144,600,000 | 717,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Goodwill | ' | 1,682,800,000 | 95,000,000 | 93,600,000 | ' | ' | 1,537,700,000 | 45,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,600,000 | ' | 8,600,000 | ' | ' | ' | ' | ' | ' | ' | 646,700,000 | 0 | 0 | 601,200,000 | 0 | 0 | 936,500,000 | |||
Net assets acquired | ' | ' | ' | ' | ' | ' | 2,682,300,000 | 762,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue of since acquisition | ' | ' | ' | ' | ' | 148,600,000 | ' | ' | 218,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | ' | ' | 59,000,000 | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating income related to acquisition | ' | ' | ' | ' | ' | 29,800,000 | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | 5,400,000 | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||
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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Payments to Acquire Businesses | ' | ' | ' | ' | ' | ' | ' | 550,000,000 | ' | ' | ' | ' | ' | ' | 87,900,000 | ' | ' | 95,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Incentive Distribution, Distribution | ' | 26,400,000 | 14,800,000 | 7,000,000 | ' | ' | ' | 8,826,125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Central Delivery Point Acquired Asset, Area (in acres) | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Gathering Pipeline Acquired (in miles) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46 | 130 | ' | 28 | ' | 60 | ' | ' | ' | ' | ' | ' | ' | |||
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 | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Assets Acquired, Compression Power | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Purchase Agreement, 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, Per Day (in cubic feet) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | 450,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Deferred Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Accounts Payable, Other, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Consideration Transferred, Liabilities Incurred and Equity Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 338,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Cost of Acquired Entity, Cash Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64,400,000 | ' | ' | ' | ' | ' | ' | ' | |||
Deferred Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | |||
Business Acquisition, Contingent Consideration, Potential Cash Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,200,000 | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Commitment Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Asset Retirement Obligations, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Liability for Asbestos and Environmental Claims, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Payments to Acquire Businesses, Net of Cash Acquired | 564,000,000 | 561,500,000 | ' | 414,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87,900,000 | ' | ' | 95,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Acquisition, Pro Forma Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | ' | 2,083,300,000 | 1,184,500,000 | 606,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net income | ' | ($21,000,000) | $50,100,000 | $62,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Basic (usd per unit) | ' | ($0.61) | [1] | $0.29 | [1] | $0.36 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted (usd per unit) | ' | ($0.61) | [1] | $0.29 | [1] | $0.36 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
[1] | Basic and diluted net income per limited partner unit for the years ended December 31, 2012 and 2011 were computed based on the number of NRGM common units outstanding plus the number of common units issued by Legacy Inergy to Legacy Crestwood unitholders as part of the Crestwood Merger discussed in Note 1 and the number of units issued in conjunction with the Arrow acquisition. Pro forma shares issued in conjunction with the Rangeland acquisition were also included in 2011. |
Investments_in_Unconsolidated_1
Investments in Unconsolidated Affiliates (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 4 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Feb. 29, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 04, 2013 | Jul. 19, 2013 | Dec. 31, 2013 | Jul. 19, 2013 | Sep. 04, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
PRBIC | PRBIC | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Access Midstream Partners, L.P. | Crude Logistics LLC | Crude Logistics LLC | RKI Exploration and Production, LLC's [Member] | Majority Shareholder | ||||||||||
Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | PRBIC | PRBIC | Jackalope Gas Gathering Services, LLC | PRBIC | ||||||||||||
acre | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity method ownership percentage | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.01% | 50.00% | ' | 50.00% | ' | ' | ' | ' |
Equity method investee cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $107.50 | ' | ' | ' | ' | ' | ' |
Period of commitment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' |
Area subject to commitment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 311,000 | ' | ' | ' | ' |
Investment in unconsolidated affiliates in period | 131.3 | ' | ' | ' | ' | 0 | 151.5 | ' | 0 | ' | ' | ' | 19.6 | ' | 22.5 | 1.9 | ' | ' |
Earnings (loss) from unconsolidated affiliates, net | ' | 0.3 | -0.4 | 0 | 0 | 0 | -0.1 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | 1.5 | -0.2 |
Difference between carrying amount and underlying equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56.8 | ' |
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | ' |
Investment in unconsolidated affiliates | ' | $151.40 | ' | ' | ' | ' | $151.40 | $0 | ' | $24.20 | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings_Limited_Partner_Unit_2
Earnings Limited Partner Unit (Allocation of Net Income to General and Limited Partners) (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 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to CMLP | ($45.30) | $9.70 | $6.70 | $8.90 | $7.90 | $14.40 | $6.80 | $9.80 | ($20) | $38.90 | $45 |
General partner’s incentive distributions | ' | ' | ' | ' | ' | ' | ' | ' | -26.4 | -14.8 | -7 |
Net income (loss) attributable to CMLP after incentive distributions | ' | ' | ' | ' | ' | ' | ' | ' | -46.4 | 24.1 | 38 |
General partner’s interest in net income attributable to CMLP after incentive distributions | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | -7.4 | -0.7 |
Payment to Legacy Crestwood unitholders | ' | ' | ' | ' | ' | ' | ' | ' | -34.9 | 0 | 0 |
Limited partners’ interest in net income (loss) attributable to CMLP after incentive distributions | ' | ' | ' | ' | ' | ' | ' | ' | ($81.70) | $16.70 | $37.30 |
Earnings_Limited_Partner_Unit_3
Earnings Limited Partner Unit (Schedule of Reconciliation of Earnings Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Millions, except Share data, 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 | ||||||||
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Limited partners’ interest in net income (loss) attributable to CMLP after incentive distributions | ' | ' | ' | ' | ' | ' | ' | ' | ($81.70) | $16.70 | $37.30 | ||||||||
Basic (units) | ' | ' | ' | ' | ' | ' | ' | ' | 99,183,000 | 64,656,000 | 64,656,000 | ||||||||
Incremental Common Shares Attributable to Share-based Payment Arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||
Diluted (units) | ' | ' | ' | ' | ' | ' | ' | ' | 99,183,000 | 64,656,000 | 64,656,000 | ||||||||
Basic, in dollars per unit | -0.5 | [1] | 0.05 | [1] | -0.02 | [1] | 0.06 | [1] | 0.01 | [1] | 0.11 | [1] | 0.04 | [1] | 0.1 | [1] | -0.82 | 0.26 | 0.58 |
Diluted, in dollars per unit | -0.5 | [1] | 0.05 | [1] | -0.02 | [1] | 0.06 | [1] | 0.01 | [1] | 0.11 | [1] | 0.04 | [1] | 0.1 | [1] | -0.82 | 0.26 | 0.58 |
[1] | Basic and diluted net income for each of the quarters ended September 30, 2013 and each of the quarters ended December 31, 2012, were computed based on the number of common units issued by Legacy Inergy to Legacy Crestwood unitholders as part of the Crestwood Merger. |
Earnings_Limited_Partner_Unit_4
Earnings Limited Partner Unit (Narrative) (Details) (USD $) | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | |
Crestwood Niobrara LLC | Parent | General Partner | General Partner | Distribution Rights | ||||
Maximum | ||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 | 1,891,326 | ' | ' | ' | ' |
Incentive Distribution, Distribution Per Unit | ' | ' | ' | ' | ' | $0.45 | ' | ' |
Percentage of cash distributions entitled to receive from operating surplus | ' | ' | ' | ' | 50.00% | ' | 50.00% | ' |
Distribution declared per limited partner unit | ' | ' | ' | ' | ' | ' | ' | $0.37 |
Financial_Instruments_Narrativ
Financial Instruments (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 07, 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, 2012 | Nov. 14, 2012 | Apr. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 07, 2012 | Dec. 31, 2013 | Oct. 22, 2013 | Dec. 31, 2012 |
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 | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | Crestwood Midstream Revolver | 2019 Senior Notes | 2019 Senior Notes | 2019 Senior Notes | 2019 Senior Notes | 2020 Senior Notes | 2020 Senior Notes | 2020 Senior Notes | 2022 Senior Notes | 2022 Senior Notes | 2022 Senior Notes | ||
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 | Revolver | Revolver | Revolver | Revolver | Revolver | Standby Letters of Credit | Swing Line Loans | Swing Line Loans | Swing Line Loans | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | |||
Minimum | Maximum | Federal Funds Rate | Adjusted London Interbank Offered Rate | London Interbank Offered Rate | London Interbank Offered Rate | Minimum | Maximum | Alternate Base Rate | Alternate Base Rate | ||||||||||||||||||
Minimum | Maximum | Minimum | Maximum | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of debt instrument | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, maximum capacity | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000,000 | ' | ' | ' | ' | $250,000,000 | $25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | 623,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding balance on the credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | 414,900,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | 554,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Margin on variable rate | ' | ' | ' | ' | 0.50% | 1.00% | 1.75% | 2.75% | ' | ' | ' | ' | ' | ' | ' | 0.75% | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional margin on variable rate based on leverage ratio | ' | ' | 0.75% | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused capacity commitment fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.30% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum leverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum leverage ratio, certain periods post acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum interest coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current debt to EBITDA ratio | ' | 4.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated EBITDA to interest expense ratio | ' | 3.56 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face amount of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | 200,000,000 | ' | ' | 500,000,000 | ' | 600,000,000 | ' |
Interest rate on debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.75% | 7.75% | ' | ' | 6.00% | ' | 6.13% | ' |
Senior notes | $1,864,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $350,000,000 | $350,000,000 | ' | ' | $500,000,000 | $0 | ' | $600,000,000 | ' | $0 |
Financial_Instruments_Schedule
Financial Instruments (Schedule of Carrying Values and Estimated Fair Values of Senior Notes) (Details) (Unsecured Debt, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Carrying Amount | 2022 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Fair value of senior notes | $600 | $0 |
Carrying Amount | 2019 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Fair value of senior notes | 351.2 | 351.5 |
Carrying Amount | 2020 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Fair value of senior notes | 504.7 | 0 |
Fair Value | 2022 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Fair value of senior notes | 617.3 | 0 |
Fair Value | 2019 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Fair value of senior notes | 379.3 | 365.9 |
Fair Value | 2020 senior unsecured notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Fair value of senior notes | $513.80 | $0 |
Financial_Instruments_Debt_Det
Financial Instruments (Debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Senior notes | $1,864.90 | ' |
Total debt | 1,870.80 | 685.2 |
Less: current portion | 2.9 | 0 |
Total long-term debt | 1,867.90 | 685.2 |
Senior Notes | 2019 Senior Notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior notes | 350 | 350 |
Premium on senior notes | 1.2 | 1.5 |
Senior Notes | 2020 Senior Notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior notes | 500 | 0 |
Fair value adjustment of senior notes | 4.7 | 0 |
Senior Notes | 2022 Senior Notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior notes | 600 | 0 |
Revolver | Crestwood Midstream Revolver | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Outstanding balance on the credit facility | 414.9 | 0 |
Credit facility | Legacy Crestwood Credit Facility | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Outstanding balance on the credit facility | 0 | 206.7 |
Credit facility | CMM Credit Facility | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Outstanding balance on the credit facility | $0 | $127 |
Financial_Instruments_Principa
Financial Instruments (Principal and Interest) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ' |
2014 | $2.90 |
2015 | 0 |
2016 | 0 |
2017 | 0 |
2018 | 412 |
Thereafter | 1,450 |
Total debt | $1,864.90 |
Partners_Capital_Narrative_Det
Partners' Capital (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Feb. 29, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 08, 2013 | Dec. 31, 2013 | Jan. 08, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 29, 2012 | Oct. 07, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Oct. 07, 2013 | Nov. 08, 2013 | Oct. 07, 2013 | Dec. 31, 2013 | Oct. 30, 2013 | Jan. 31, 2014 | Jul. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 08, 2013 | |
Preferred Units, Class C | Preferred Units, Class C | Preferred Units, Class C | Preferred Units, Class D | Preferred Units, Class D | General Partner | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Crestwood Holdings | CMLP | Legacy Inergy | Legacy Inergy | CMLP | Arrow Midstream Holdings, LLC | Majority Shareholder | 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 | Jackalope Gas Gathering Services, LLC | Jackalope Gas Gathering Services, LLC | Minimum | Legacy Crestwood Credit Facility | |||||||||||
Crestwood Holdings | Preferred Units | Subsequent event | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Crestwood Niobrara LLC | Crestwood Niobrara LLC | ||||||||||||||||||||||||||||||||
Preferred Units | Preferred Units | Preferred Units | Preferred Units | |||||||||||||||||||||||||||||||||||||
Distribution Made to Member or Limited Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Equity Interest Issued or Issuable, Conversion Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution Made to Member or Limited Partner, Share Distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183,995 | 633,084 | 473,731 | 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 | ' | $0.51 | $0.50 | $0.50 | $0.49 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.51 | $0.51 | $0.51 | ' | ' | ' | ' | ' | $0.41 | $0.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.30 | ' |
Incentive Distribution, Distribution | ' | ' | ' | ' | ' | ' | 26,400,000 | 14,800,000 | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,200,000 | 25,800,000 | ' | ' | ' | ' | ' | ' | 8,826,125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34,900,000 | 550,000,000 | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in unconsolidated affiliates in period | 131,300,000 | ' | ' | ' | ' | 0 | 151,500,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,600,000 | ' | ' | ' | ' | ' | ' |
Equity method ownership percentage | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, 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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions from general partner | ' | ' | ' | ' | ' | 249,700,000 | 5,500,000 | ' | 8,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution from issuance of units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,600,000 | 15,500,000 | 96,100,000 | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | 4,900,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of Contributions to be Funded by Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' |
Funds from Capital Contributions, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $53,900,000 | ' | ' | ' | ' | ' |
Partners_Capital_Schedule_of_I
Partners' Capital (Schedule of Issuance of Units) (Details) (USD $) | 9 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | 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 | Unit Distribution | Unit Distribution | Unit Distribution | Unit Distribution | Unit Distribution | Unit Distribution | Unit Distribution | Unit Distribution | Unit Distribution | Unit Distribution | Unit Distribution | ||||||||||||
Distribution Made to Member or Limited Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Units | ' | 0 | ' | 0 | ' | 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 | $0 | $0 | $152.70 | ' | $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_Schedule_of_P
Partners' Capital (Schedule of Partnership Distributions) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 14, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | |||
Dividend Paid | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Legacy Crestwood | Legacy Inergy | Legacy Inergy | Legacy Inergy | |||||||||||
Cash distribution | |||||||||||||||||||
Subsequent event | |||||||||||||||||||
Disclosure Partners Capital Summary Of Quarterly Distributions Of Available Cash [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Distribution to limited partner, record date | 30-Oct-12 | 2-Aug-12 | 1-May-12 | 31-Jan-12 | ' | ' | ' | ' | ' | 1-Aug-13 | 30-Apr-13 | 31-Jan-13 | ' | ' | 7-Nov-13 | 7-Aug-13 | ' | ||
Distribution to limited partner, distribution date | 9-Nov-12 | 10-Aug-12 | 11-May-12 | 10-Feb-12 | ' | ' | ' | ' | ' | 9-Aug-13 | 10-May-13 | 12-Feb-13 | ' | ' | 14-Nov-13 | 14-Aug-13 | ' | ||
Per unit rate | $0.51 | $0.50 | $0.50 | $0.49 | ' | ' | ' | ' | ' | $0.51 | $0.51 | $0.51 | ' | ' | $0.41 | $0.40 | ' | ||
Distribution amount | $21,000,000 | $20,600,000 | $18,200,000 | $17,900,000 | $77,700,000 | $204,500,000 | $77,700,000 | $58,100,000 | ' | $27,400,000 | $27,400,000 | $21,000,000 | ' | ' | $69,500,000 | [1] | $34,300,000 | [1] | $179,600,000 |
Incentive Distribution, Distribution | ' | ' | ' | ' | ' | $26,400,000 | $14,800,000 | $7,000,000 | ' | ' | ' | ' | $26,200,000 | $25,800,000 | ' | ' | ' | ||
Distribution declared per limited partner unit | ' | ' | ' | ' | ' | ' | ' | ' | $0.41 | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | Represents distributions associated with Legacy Inergy limited partner units. |
Equity_Plan_Narrative_Details
Equity Plan (Narrative) (Details) (USD $) | 9 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restricted units | Restricted units | Phantom and Restricted Units | Phantom and Restricted Units | Phantom and Restricted Units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vested, units | ' | ' | ' | ' | 230,384 | ' | ' | ' | ' |
Vested | ' | ' | ' | ' | $22.16 | ' | ' | ' | ' |
Unit-based compensation charges | ' | ' | ' | ' | ' | $4.90 | ' | ' | ' |
Unvested units at period end | ' | ' | ' | ' | 195,250 | 195,250 | ' | ' | ' |
Unvested units at period end, per share | ' | ' | ' | ' | $22.16 | $22.16 | ' | ' | ' |
Share-based Compensation, Non-vested, Compensation Cost Not yet Recognized | ' | ' | ' | ' | 1.8 | 1.8 | ' | ' | ' |
Compensation expense | 1.9 | 15.8 | ' | 0.9 | ' | ' | 6.5 | 1.9 | 0.9 |
Grants of units, estimated grant date fair value | ' | ' | ' | ' | ' | ' | $4.60 | $4.70 | $0.80 |
Common units to satisfy employee tax withholding obligations | ' | 21,014 | 1,405 | ' | ' | ' | ' | ' | ' |
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 | ||||||||||||
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 | |
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 | |
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 | ||
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 | -230,384 | ' | ' | ' | -7,958 | -4,267 | 0 | 0 | ' | ' | ' | -329,825 | -40,929 | -74,760 | -4,682 |
Vested | $22.16 | ' | ' | ' | $26.48 | $26.46 | $0 | $0 | ' | ' | ' | $26.69 | $27.21 | $25.60 | $27.53 |
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 | 195,250 | 0 | 8,312 | 13,346 | ' | ' | ' | ' | 0 | 221,992 | 128,795 | ' | ' | ' | ' |
Unvested units - December 31 | $22.16 | $0 | $26.45 | $26.40 | ' | ' | ' | ' | $0 | $28.35 | $27.22 | ' | ' | ' | ' |
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 | 0 Months Ended | 1 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 23, 2011 | Jun. 30, 2010 | Mar. 26, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | |
Watkins Glen NGL Development Project | Anadarko | Anadarko | Antero | Class Action Challenging Crestwood Merger | Class Action Challenging Crestwood Merger - Federal | Other Growth and Maintenance Contractual Purchase Obligations | ||||
bbl | Marc I Pipeline | Marc I Pipeline | Lawsuit | Lawsuit | ||||||
Schedule Of Commitments And Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Pending Claims, Number | ' | ' | ' | ' | ' | ' | ' | 5 | 4 | ' |
Counterparty Option To Purchase Maximum Ownership Interest | ' | ' | ' | ' | 25.00% | 25.00% | ' | ' | ' | ' |
Loss contingency accrual, less than | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense, Net | 7,600,000 | 7,400,000 | 7,700,000 | ' | ' | ' | ' | ' | ' | ' |
Capital Leases, Income Statement, Amortization Expense | 3,600,000 | 3,100,000 | 1,900,000 | ' | ' | ' | ' | ' | ' | ' |
Capital Lease Obligations, Noncurrent | 4,700,000 | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Barrels of NGL storage (in bbl) | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' |
Purchase commitments expected to occur over next twelve months | 48,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase Commitment, Remaining Minimum Amount Committed | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,700,000 |
Business Acquisition, Contingent Consideration, Potential Cash Payment | ' | ' | ' | ' | ' | ' | $40,000,000 | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Future Minimum Annual Rental Commitments) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $2.10 |
2015 | 1.7 |
2016 | 1.1 |
2017 | 0.6 |
2018 | 0.2 |
Thereafter | 0 |
Total minimum lease payments | $5.70 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Schedule of Future Minimum Lease Payments) (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 | 12 Months Ended | 0 Months Ended | ||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 07, 2013 |
CEQP | CEQP | CEQP | CEQP | Affiliates | Affiliates | Majority Shareholder | ||||
Crestwood Holdings | Crestwood Holdings | |||||||||
Disclosure Related Party Transaction Additional Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gathering and processing revenues | $82.10 | $113.70 | $131.20 | ' | $74.90 | $113.70 | $131.20 | ' | ' | ' |
NGL and crude services | 270.1 | 0 | 0 | ' | 7.2 | 0 | 0 | ' | ' | ' |
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 | ' | ' | ' | ' | ' | ' | ' | 1.1 | 23.8 | ' |
Accounts payable | ' | ' | ' | ' | ' | ' | ' | 3.3 | 3.1 | ' |
Accrued expenses | $25.40 | $9.60 | ' | ' | ' | ' | ' | $5.40 | $0 | ' |
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 to EBITDA) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($42.30) | $11.60 | $6.70 | $8.90 | $38.90 | ($15.10) | $38.90 | $45 |
Interest and debt expense, net | ' | ' | ' | ' | ' | 71.4 | 35.8 | 27.6 |
Provision for income taxes | ' | ' | ' | ' | ' | 0.7 | 1.2 | 1.3 |
Depreciation, Amortization and Accretion, Net | ' | ' | ' | ' | ' | 121.7 | 51.9 | 33.8 |
EBITDA | ' | ' | ' | ' | ' | $178.70 | $127.80 | $107.70 |
Segments_Schedule_of_Reportabl
Segments (Schedule of Reportable Segment Data) (Details) (USD $) | 3 Months Ended | 9 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 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | $366 | $140.10 | $80.10 | $72.40 | $67.50 | $63 | $55.20 | $53.80 | ' | $658.60 | $239.50 | $205.80 |
Costs of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 295.7 | 39 | 38.8 |
Cost of Goods Sold, Storage and Transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Cost of Goods Sold, Marketing Supply and Logistics | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Operating and administrative expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 154 | 72.7 | 60.4 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -4.1 | 0 | 0 |
Gain on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.4 | 0 | 1.1 |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -31.4 | 0 | 0 |
Earnings (loss) from unconsolidated affiliates, net | 0.3 | -0.4 | 0 | 0 | ' | ' | ' | ' | 0 | -0.1 | 0 | 0 |
EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | 178.7 | 127.8 | 107.7 |
Goodwill | 1,682.80 | ' | ' | ' | 95 | ' | ' | ' | ' | 1,682.80 | 95 | 93.6 |
Total assets | 6,401.80 | ' | ' | ' | 1,610.60 | ' | ' | ' | ' | 6,401.80 | 1,610.60 | 1,026.90 |
Cash expenditures for property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 52.6 | 334.6 | 52.6 | 48.4 |
Gathering and Processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 291.2 | 239.5 | 205.8 |
Costs of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56.6 | 39 | ' |
Operating and administrative expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54.9 | 43.1 | 36.3 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4.1 | ' | ' |
Gain on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.4 | ' | 1.1 |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31.4 | ' | ' |
Earnings (loss) from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | ' | ' |
EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | 149.7 | 157.4 | 131.8 |
Goodwill | 99.6 | ' | ' | ' | 95 | ' | ' | ' | ' | 99.6 | 95 | 93.6 |
Total assets | 1,836.40 | ' | ' | ' | 1,587.90 | ' | ' | ' | ' | 1,836.40 | 1,587.90 | 1,008.60 |
Cash expenditures for property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 271.2 | 51.5 | 47.8 |
NGL and Crude Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 277.3 | 0 | 0 |
Costs of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Cost of Goods Sold, Marketing Supply and Logistics | ' | ' | ' | ' | ' | ' | ' | ' | ' | 230.4 | ' | ' |
Operating and administrative expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.5 | 0 | 0 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Gain on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Earnings (loss) from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | ' | ' |
EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38.2 | 0 | 0 |
Goodwill | 646.7 | ' | ' | ' | 0 | ' | ' | ' | ' | 646.7 | 0 | 0 |
Total assets | 2,217.30 | ' | ' | ' | 0 | ' | ' | ' | ' | 2,217.30 | 0 | 0 |
Cash expenditures for property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52.1 | 0 | 0 |
Storage and Transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.1 | 0 | 0 |
Costs of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Cost of Goods Sold, Storage and Transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.7 | ' | ' |
Operating and administrative expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.9 | 0 | 0 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Gain on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Earnings (loss) from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71.5 | 0 | 0 |
Goodwill | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 0 | 0 |
Total assets | 2,190.50 | ' | ' | ' | 0 | ' | ' | ' | ' | 2,190.50 | 0 | 0 |
Cash expenditures for property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.3 | 0 | 0 |
Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Costs of product/services sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating and administrative expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.7 | 29.6 | 24.1 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Gain on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Earnings (loss) from unconsolidated affiliates, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | -80.7 | -29.6 | -24.1 |
Goodwill | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Total assets | 157.6 | ' | ' | ' | 22.7 | ' | ' | ' | ' | 157.6 | 22.7 | 18.3 |
Cash expenditures for property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | $1.10 | $0.60 |
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 | ||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $2.70 | $0.10 | $0.80 | $0 |
Accounts receivable | 205.1 | 45.4 | ' | ' |
Inventory | 7 | 0 | ' | ' |
Prepaid expenses and other current assets | 10.2 | 4.9 | ' | ' |
Total current assets | 225 | 50.4 | ' | ' |
Property, plant and equipment, net | 3,350.10 | 939.9 | ' | ' |
Goodwill and intangible assets, net | 2,653.60 | ' | ' | ' |
Investment in consolidated affiliates | 0 | ' | ' | ' |
Investment in unconsolidated affiliates | 151.4 | 0 | ' | ' |
Other assets | 21.7 | 1.3 | ' | ' |
Total assets | 6,401.80 | 1,610.60 | 1,026.90 | ' |
Accounts payable | 157.8 | 5.4 | ' | ' |
Other current liabilities | 156.7 | ' | ' | ' |
Total current liabilities | 314.5 | 48.5 | ' | ' |
Long-term debt, less current portion | 1,867.90 | 685.2 | ' | ' |
Other long-term liabilities | 26.3 | 17.2 | ' | ' |
Total long-term liabilities | 1,894.20 | ' | ' | ' |
Partners' capital | 4,092.10 | 859.7 | ' | ' |
Interest of non-controlling partners in subsidiary | 101 | 0 | ' | ' |
Total partners’ capital | 4,193.10 | 859.7 | ' | ' |
Total liabilities and partners’ capital | 6,401.80 | 1,610.60 | ' | ' |
Parent | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 0.1 | 0 | ' | ' |
Accounts receivable | 466.8 | ' | ' | ' |
Inventory | 0 | ' | ' | ' |
Prepaid expenses and other current assets | 0 | ' | ' | ' |
Total current assets | 466.9 | ' | ' | ' |
Property, plant and equipment, net | 4.8 | ' | ' | ' |
Goodwill and intangible assets, net | 0 | ' | ' | ' |
Investment in consolidated affiliates | 6,385.20 | ' | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' | ' |
Other assets | 0 | ' | ' | ' |
Total assets | 6,856.90 | ' | ' | ' |
Accounts payable | 782.7 | ' | ' | ' |
Other current liabilities | 11.5 | ' | ' | ' |
Total current liabilities | 794.2 | ' | ' | ' |
Long-term debt, less current portion | 1,867.90 | ' | ' | ' |
Other long-term liabilities | 1.7 | ' | ' | ' |
Total long-term liabilities | 1,869.60 | ' | ' | ' |
Partners' capital | 4,092.10 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | 101 | ' | ' | ' |
Total partners’ capital | 4,193.10 | ' | ' | ' |
Total liabilities and partners’ capital | 6,856.90 | ' | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 1.6 | 0.1 | ' | ' |
Accounts receivable | 197.8 | ' | ' | ' |
Inventory | 7 | ' | ' | ' |
Prepaid expenses and other current assets | 10.2 | ' | ' | ' |
Total current assets | 216.6 | ' | ' | ' |
Property, plant and equipment, net | 3,345.30 | ' | ' | ' |
Goodwill and intangible assets, net | 2,653.60 | ' | ' | ' |
Investment in consolidated affiliates | 0 | ' | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' | ' |
Other assets | 21.7 | ' | ' | ' |
Total assets | 6,237.20 | ' | ' | ' |
Accounts payable | -165.2 | ' | ' | ' |
Other current liabilities | 145 | ' | ' | ' |
Total current liabilities | -20.2 | ' | ' | ' |
Long-term debt, less current portion | 0 | ' | ' | ' |
Other long-term liabilities | 24.6 | ' | ' | ' |
Total long-term liabilities | 24.6 | ' | ' | ' |
Partners' capital | 6,232.80 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | 0 | ' | ' | ' |
Total partners’ capital | 6,232.80 | ' | ' | ' |
Total liabilities and partners’ capital | 6,237.20 | ' | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 1 | 0 | ' | ' |
Accounts receivable | 0.2 | ' | ' | ' |
Inventory | 0 | ' | ' | ' |
Prepaid expenses and other current assets | 0 | ' | ' | ' |
Total current assets | 1.2 | ' | ' | ' |
Property, plant and equipment, net | 0 | ' | ' | ' |
Goodwill and intangible assets, net | 0 | ' | ' | ' |
Investment in consolidated affiliates | 0 | ' | ' | ' |
Investment in unconsolidated affiliates | 151.4 | ' | ' | ' |
Other assets | 0 | ' | ' | ' |
Total assets | 152.6 | ' | ' | ' |
Accounts payable | 0 | ' | ' | ' |
Other current liabilities | 0.2 | ' | ' | ' |
Total current liabilities | 0.2 | ' | ' | ' |
Long-term debt, less current portion | 0 | ' | ' | ' |
Other long-term liabilities | 0 | ' | ' | ' |
Total long-term liabilities | 0 | ' | ' | ' |
Partners' capital | 51.4 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | 101 | ' | ' | ' |
Total partners’ capital | 152.4 | ' | ' | ' |
Total liabilities and partners’ capital | 152.6 | ' | ' | ' |
Consolidation, Eliminations | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Accounts receivable | -459.7 | ' | ' | ' |
Inventory | 0 | ' | ' | ' |
Prepaid expenses and other current assets | 0 | ' | ' | ' |
Total current assets | -459.7 | ' | ' | ' |
Property, plant and equipment, net | 0 | ' | ' | ' |
Goodwill and intangible assets, net | 0 | ' | ' | ' |
Investment in consolidated affiliates | -6,385.20 | ' | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' | ' |
Other assets | 0 | ' | ' | ' |
Total assets | -6,844.90 | ' | ' | ' |
Accounts payable | -459.7 | ' | ' | ' |
Other current liabilities | 0 | ' | ' | ' |
Total current liabilities | -459.7 | ' | ' | ' |
Long-term debt, less current portion | 0 | ' | ' | ' |
Other long-term liabilities | 0 | ' | ' | ' |
Total long-term liabilities | 0 | ' | ' | ' |
Partners' capital | -6,284.20 | ' | ' | ' |
Interest of non-controlling partners in subsidiary | -101 | ' | ' | ' |
Total partners’ capital | -6,385.20 | ' | ' | ' |
Total liabilities and partners’ capital | ($6,844.90) | ' | ' | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Condensed Consolidating Statement of Operations) (Details) (USD $) | 3 Months Ended | 9 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 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | $216.30 | $125.80 | $74.60 | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 270.1 | 0 | 0 | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.1 | 0 | 0 | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82.1 | 113.7 | 131.2 | |
Revenues | 366 | 140.1 | 80.1 | 72.4 | 67.5 | 63 | 55.2 | 53.8 | ' | 658.6 | 239.5 | 205.8 | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.1 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 230.4 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.7 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.5 | 15.2 | 0 | |
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 295.7 | 39 | 38.8 | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 154 | 72.7 | 60.4 | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | ' | 121.7 | 51.9 | 33.8 | |
Costs and Expenses, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | 275.7 | 124.6 | 94.2 | |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -31.4 | 0 | 0 | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.3 | ' | ' | |
Operating income | -14.9 | [1] | 31.8 | 19.5 | 20.7 | 18.6 | 23.6 | 16 | 17.7 | ' | 57.1 | 75.9 | 73.9 |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -71.4 | -35.8 | -27.6 | |
Equity in net income (loss) of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other | 0.3 | -0.4 | 0 | 0 | ' | ' | ' | ' | 0 | -0.1 | 0 | 0 | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -14.4 | 40.1 | 46.3 | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | 1.2 | 1.3 | |
Net income (loss) | -42.3 | 11.6 | 6.7 | 8.9 | ' | ' | ' | ' | 38.9 | -15.1 | 38.9 | 45 | |
Net (income) loss attributable to non-controlling partners | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4.9 | 0 | 0 | |
Net income (loss) attributable to Crestwood Midstream Partners LP | -45.3 | 9.7 | 6.7 | 8.9 | 7.9 | 14.4 | 6.8 | 9.8 | ' | -20 | 38.9 | 45 | |
Non-managing general partner's interest in net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26.8 | 22.2 | 7.7 | |
Limited partners’ interest in net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -81.7 | 16.7 | 37.3 | |
Parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46.5 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | |
Costs and Expenses, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47.5 | ' | ' | |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -47.5 | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68.7 | ' | ' | |
Equity in net income (loss) of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.1 | ' | ' | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.1 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.1 | ' | ' | |
Net (income) loss attributable to non-controlling partners | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income (loss) attributable to Crestwood Midstream Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.1 | ' | ' | |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 216.3 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 270.1 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.1 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82.1 | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 658.6 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.1 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 230.4 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.7 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.5 | ' | ' | |
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 295.7 | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 107.5 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120.7 | ' | ' | |
Costs and Expenses, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | 228.2 | ' | ' | |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31.4 | ' | ' | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.3 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104.6 | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.7 | ' | ' | |
Equity in net income (loss) of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.9 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.2 | ' | ' | |
Net (income) loss attributable to non-controlling partners | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income (loss) attributable to Crestwood Midstream Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.2 | ' | ' | |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Costs and Expenses, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Equity in net income (loss) of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' | |
Net (income) loss attributable to non-controlling partners | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4.9 | ' | ' | |
Net income (loss) attributable to Crestwood Midstream Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5 | ' | ' | |
Consolidation, Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Gathering and processing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
NGL and crude services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Storage and transportation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Related party (Note 13) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Cost of Goods and Services Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Operating and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Costs and Expenses, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Interest and debt expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Equity in net income (loss) of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | -101.1 | ' | ' | |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -101.1 | ' | ' | |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -101.1 | ' | ' | |
Net (income) loss attributable to non-controlling partners | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |
Net income (loss) attributable to Crestwood Midstream Partners LP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($101.10) | ' | ' | |
[1] | 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 12 for a further discussion |
Condensed_Consolidating_Financ4
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 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | $186.50 | ' | $86.30 |
Acquisitions, net of cash acquired | -561.5 | ' | -414.1 |
Purchases of property, plant and equipment | -334.6 | -52.6 | -48.4 |
Investment in unconsolidated affiliates | -151.5 | ' | 0 |
Capital contribution from consolidated affiliate | 0 | ' | ' |
Proceeds from sale of assets | 11.1 | ' | 6 |
Net cash used in investing activities | -1,036.50 | ' | -456.5 |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | 2,072.80 | ' | ' |
Repayments of Long-term Debt | -1,634.30 | ' | ' |
Payments of Capital Distribution | -359.7 | ' | ' |
Contributions from general partner | 5.5 | ' | ' |
Net proceeds from issuance of common units | 714 | ' | 53.6 |
Net proceeds from issuance of preferred equity of subsidiary | 96.1 | ' | 0 |
Payments on capital leases | -4.3 | ' | -2 |
Taxes paid for unit-based compensation vesting | -5.5 | ' | 0 |
Payments for deferred financing costs | -32 | ' | -7 |
Net change in payables to affiliate | 0 | ' | ' |
Net cash provided by financing activities | 852.6 | ' | 371 |
Net increase (decrease) in cash | 2.6 | ' | 0.8 |
Cash at beginning of period | 0.1 | 0.8 | 0 |
Cash at end of period | 2.7 | 0.1 | 0.8 |
Parent | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 3.9 | ' | ' |
Acquisitions, net of cash acquired | 0 | ' | ' |
Purchases of property, plant and equipment | -1 | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' |
Capital contribution from consolidated affiliate | -82 | ' | ' |
Proceeds from sale of assets | -0.4 | ' | ' |
Net cash used in investing activities | -83.4 | ' | ' |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | 382.9 | ' | ' |
Repayments of Long-term Debt | -202 | ' | ' |
Payments of Capital Distribution | -219.3 | ' | ' |
Contributions from general partner | 0 | ' | ' |
Net proceeds from issuance of common units | 118.5 | ' | ' |
Net proceeds from issuance of preferred equity of subsidiary | 0 | ' | ' |
Payments on capital leases | -0.4 | ' | ' |
Taxes paid for unit-based compensation vesting | 0 | ' | ' |
Payments for deferred financing costs | -0.1 | ' | ' |
Net change in payables to affiliate | 0 | ' | ' |
Net cash provided by financing activities | 79.6 | ' | ' |
Net increase (decrease) in cash | 0.1 | ' | ' |
Cash at beginning of period | 0 | ' | ' |
Cash at end of period | 0.1 | ' | ' |
Guarantor Subsidiaries | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 216.4 | ' | ' |
Acquisitions, net of cash acquired | -561.5 | ' | ' |
Purchases of property, plant and equipment | -333.6 | ' | ' |
Investment in unconsolidated affiliates | -24.4 | ' | ' |
Capital contribution from consolidated affiliate | 0 | ' | ' |
Proceeds from sale of assets | 11.1 | ' | ' |
Net cash used in investing activities | -908.4 | ' | ' |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | 1,689.90 | ' | ' |
Repayments of Long-term Debt | -1,432.30 | ' | ' |
Payments of Capital Distribution | -174.2 | ' | ' |
Contributions from general partner | 55.5 | ' | ' |
Net proceeds from issuance of common units | 595.5 | ' | ' |
Net proceeds from issuance of preferred equity of subsidiary | 0 | ' | ' |
Payments on capital leases | -3.9 | ' | ' |
Taxes paid for unit-based compensation vesting | -5.5 | ' | ' |
Payments for deferred financing costs | -31.9 | ' | ' |
Net change in payables to affiliate | 0.4 | ' | ' |
Net cash provided by financing activities | 693.5 | ' | ' |
Net increase (decrease) in cash | 1.5 | ' | ' |
Cash at beginning of period | 0.1 | ' | ' |
Cash at end of period | 1.6 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 0 | ' | ' |
Acquisitions, net of cash acquired | 0 | ' | ' |
Purchases of property, plant and equipment | 0 | ' | ' |
Investment in unconsolidated affiliates | -127.1 | ' | ' |
Capital contribution from consolidated affiliate | 0 | ' | ' |
Proceeds from sale of assets | 0 | ' | ' |
Net cash used in investing activities | -127.1 | ' | ' |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | 0 | ' | ' |
Repayments of Long-term Debt | 0 | ' | ' |
Payments of Capital Distribution | 0 | ' | ' |
Contributions from general partner | 32 | ' | ' |
Net proceeds from issuance of common units | 0 | ' | ' |
Net proceeds from issuance of preferred equity of subsidiary | 96.1 | ' | ' |
Payments on capital leases | 0 | ' | ' |
Taxes paid for unit-based compensation vesting | 0 | ' | ' |
Payments for deferred financing costs | 0 | ' | ' |
Net change in payables to affiliate | 0 | ' | ' |
Net cash provided by financing activities | 128.1 | ' | ' |
Net increase (decrease) in cash | 1 | ' | ' |
Cash at beginning of period | 0 | ' | ' |
Cash at end of period | 1 | ' | ' |
Consolidation, Eliminations | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | -33.8 | ' | ' |
Acquisitions, net of cash acquired | 0 | ' | ' |
Purchases of property, plant and equipment | 0 | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' |
Capital contribution from consolidated affiliate | 82 | ' | ' |
Proceeds from sale of assets | 0.4 | ' | ' |
Net cash used in investing activities | 82.4 | ' | ' |
Proceeds from the issuance of Crestwood Midstream Partners LP long-term debt | 0 | ' | ' |
Repayments of Long-term Debt | 0 | ' | ' |
Payments of Capital Distribution | 33.8 | ' | ' |
Contributions from general partner | -82 | ' | ' |
Net proceeds from issuance of common units | 0 | ' | ' |
Net proceeds from issuance of preferred equity of subsidiary | 0 | ' | ' |
Payments on capital leases | 0 | ' | ' |
Taxes paid for unit-based compensation vesting | 0 | ' | ' |
Payments for deferred financing costs | 0 | ' | ' |
Net change in payables to affiliate | -0.4 | ' | ' |
Net cash provided by financing activities | -48.6 | ' | ' |
Net increase (decrease) in cash | 0 | ' | ' |
Cash at beginning of period | 0 | ' | ' |
Cash at end of period | $0 | ' | ' |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 9 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 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Operating revenues | $366 | $140.10 | $80.10 | $72.40 | $67.50 | $63 | $55.20 | $53.80 | ' | $658.60 | $239.50 | $205.80 | ||||||||
Operating income | -14.9 | [1] | 31.8 | 19.5 | 20.7 | 18.6 | 23.6 | 16 | 17.7 | ' | 57.1 | 75.9 | 73.9 | |||||||
Earnings (loss) from unconsolidated affiliates, net | 0.3 | -0.4 | 0 | 0 | ' | ' | ' | ' | 0 | -0.1 | 0 | 0 | ||||||||
Net income (loss) | -42.3 | 11.6 | 6.7 | 8.9 | ' | ' | ' | ' | 38.9 | -15.1 | 38.9 | 45 | ||||||||
Net income attributable to partners | -45.3 | 9.7 | 6.7 | 8.9 | 7.9 | 14.4 | 6.8 | 9.8 | ' | -20 | 38.9 | 45 | ||||||||
Basic, in dollars per unit | -0.5 | [2] | 0.05 | [2] | -0.02 | [2] | 0.06 | [2] | 0.01 | [2] | 0.11 | [2] | 0.04 | [2] | 0.1 | [2] | ' | -0.82 | 0.26 | 0.58 |
Diluted, in dollars per unit | -0.5 | [2] | 0.05 | [2] | -0.02 | [2] | 0.06 | [2] | 0.01 | [2] | 0.11 | [2] | 0.04 | [2] | 0.1 | [2] | ' | -0.82 | 0.26 | 0.58 |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Loss on contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -31.4 | 0 | 0 | ||||||||
Antero | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Loss on contingent consideration | ($31.40) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | 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 12 for a further discussion | |||||||||||||||||||
[2] | Basic and diluted net income for each of the quarters ended September 30, 2013 and each of the quarters ended December 31, 2012, were computed based on the number of common units issued by Legacy Inergy to Legacy Crestwood unitholders as part of the Crestwood Merger. |