NGL Energy Partners (NGL) 10-Q 9 Feb 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2015	Feb. 02, 2016
Document and Entity Information
Entity Registrant Name	NGL Energy Partners LP
Entity Central Index Key	1,504,461
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Units Outstanding		107,063,269
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 25,179	$ 41,303
Accounts receivable-trade, net of allowance for doubtful accounts of $6,270 and $4,367, respectively	581,621	1,024,226
Accounts receivable - affiliates	3,812	17,198
Inventories	414,088	441,762
Prepaid expenses and other current assets	117,476	120,855
Assets held for sale	87,383
Total current assets	1,229,559	1,645,344
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $305,233 and $202,959, respectively	1,972,925	1,617,389
GOODWILL	1,522,644	1,402,761
INTANGIBLE ASSETS, net of accumulated amortization of $305,891 and $220,517, respectively	1,242,440	1,288,343
INVESTMENTS IN UNCONSOLIDATED ENTITIES	467,559	472,673
LOAN RECEIVABLE-AFFILIATE	23,258	8,154
OTHER NONCURRENT ASSETS	106,086	112,837
Total assets	6,564,471	6,547,501
CURRENT LIABILITIES:
Accounts payable - trade	511,309	833,380
Accounts payable - affiliates	11,042	25,794
Accrued expenses and other payables	193,295	195,116
Advance payments received from customers	73,662	54,234
Current maturities of long-term debt	7,600	4,472
Total current liabilities	796,908	1,112,996
LONG-TERM DEBT, net of current maturities	3,323,492	2,745,299
OTHER NONCURRENT LIABILITIES	$ 13,232	$ 16,086
COMMITMENTS AND CONTINGENCIES ( NOTE 11 )
EQUITY:
General partner, representing a 0.1% interest, 105,489 and 103,899 notional units, respectively	$ (34,431)	$ (37,021)
Limited partners, representing a 99.9% interest,105,383,639 and 103,794,870 common units issued and outstanding, respectively	1,920,528	2,162,924
Accumulated other comprehensive loss	(148)	(109)
Noncontrolling interests	544,890	547,326
Total equity	2,430,839	2,673,120
Total liabilities and equity	$ 6,564,471	$ 6,547,501

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Consolidated Balance Sheets
Accounts receivable - trade, allowance for doubtful accounts (in dollars)	$ 6,270	$ 4,367
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation (in dollars)	305,233	202,959
INTANGIBLE ASSETS, accumulated amortization (in dollars)	$ 305,891	$ 220,517
General partner interest (as a percent)	0.10%	0.10%
General partner, notional units outstanding	105,489	103,899
Limited partners, interest (as a percent)	99.90%	99.90%
Common units issued	105,383,639	103,794,870
Common units outstanding	105,383,639	103,794,870

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
REVENUES:
Crude oil logistics	$ 519,425	$ 1,694,881	$ 2,854,787	$ 5,735,307
Water solutions	45,438	50,241	147,225	150,274
Liquids	353,527	685,096	861,504	1,700,006
Retail propane	100,145	139,765	217,798	286,025
Refined products and renewables	1,666,471	1,983,444	5,335,356	5,708,161
Other		(1,281)		1,513
Total Revenues	2,685,006	4,552,146	9,416,670	13,581,286
COST OF SALES:
Crude oil logistics	495,529	1,697,374	2,770,240	5,678,725
Water solutions	(3,128)	(29,085)	(8,088)	(27,951)
Liquids	300,766	657,010	754,157	1,633,090
Retail propane	45,974	81,172	96,417	168,590
Refined products and renewables	1,594,359	1,905,021	5,149,151	5,570,185
Other		176		2,547
Total Cost of Sales	2,433,500	4,311,668	8,761,877	13,025,186
OPERATING COSTS AND EXPENSES:
Operating	106,783	97,761	314,470	262,616
General and administrative	23,035	44,230	114,814	113,742
Depreciation and amortization	59,180	50,335	175,772	139,809
Loss on disposal or impairment of assets, net	1,328	30,073	3,040	34,639
Operating Income	61,180	18,079	46,697	5,294
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated entities	2,858	1,242	14,008	7,504
Interest expense	(36,176)	(30,051)	(98,549)	(79,196)
Other income, net	2,161	3,371	2,941	2,363
Income (Loss) Before Income Taxes	30,023	(7,359)	(34,903)	(64,035)
INCOME TAX (EXPENSE) BENEFIT	(402)	2,090	1,846	2,977
Net Income (Loss)	29,621	(5,269)	(33,057)	(61,058)
LESS: NET INCOME ALLOCATED TO GENERAL PARTNER	(16,217)	(11,783)	(47,742)	(32,220)
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(6,140)	(5,649)	(12,906)	(9,059)
NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS	$ 7,264	$ (22,701)	$ (93,705)	$ (102,337)
BASIC INCOME (LOSS) PER COMMON UNIT	$ 0.07	$ (0.26)	$ (0.89)	$ (1.17)
DILUTED INCOME (LOSS) PER COMMON UNIT	$ 0.03	$ (0.26)	$ (0.89)	$ (1.17)
BASIC WEIGHTED AVERAGE COMMON UNITS OUTSTANDING (in units)	105,338,200	88,545,764	104,808,649	83,702,571
DILUTED WEIGHTED AVERAGE COMMON UNITS OUTSTANDING (in units)	106,194,547	88,545,764	104,808,649	83,702,571

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ 29,621	$ (5,269)	$ (33,057)	$ (61,058)
Other comprehensive income (loss)	(12)	(16)	(39)	147
Comprehensive income (loss)	$ 29,609	$ (5,285)	$ (33,096)	$ (60,911)

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Changes in Equity - 9 months ended Dec. 31, 2015 - USD ($) $ in Thousands	General Partner	Limited Partner	Accumulated Other Comprehensive Loss	Noncontrolling Interests	Total
BALANCES at Mar. 31, 2015	$ (37,021)	$ 2,162,924	$ (109)	$ 547,326	$ 2,673,120
BALANCES (in units) at Mar. 31, 2015		103,794,870
Increase (Decrease) in Partnership Capital
Distributions	(45,206)	$ (193,208)		(26,638)	(265,052)
Contributions	54			10,037	10,091
Business combinations		$ 19,098			19,098
Business combinations (in units)		833,454
Equity issued pursuant to incentive compensation plan		$ 33,160			33,160
Equity issued pursuant to incentive compensation plan (in units)		1,153,456
Common unit repurchases		$ (7,707)			(7,707)
Common unit repurchases (in units)		(398,141)
Net income (loss)	47,742	$ (93,705)		12,906	(33,057)
Other comprehensive loss			(39)		(39)
TLP equity-based compensation				1,301	1,301
Other		(34)		(42)	(76)
BALANCES at Dec. 31, 2015	$ (34,431)	$ 1,920,528	$ (148)	$ 544,890	$ 2,430,839
BALANCES (in units) at Dec. 31, 2015		105,383,639

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES:
Net Loss	$ (33,057)	$ (61,058)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization, including amortization of debt issuance costs	191,081	152,228
Non-cash equity-based compensation expense	50,080	13,384
Loss on disposal or impairment of assets, net	3,040	34,639
Provision for doubtful accounts	3,770	2,398
Net commodity derivative gain	(97,069)	(240,992)
Equity in earnings of unconsolidated entities	(14,008)	(7,504)
Distributions of earnings from unconsolidated entities	15,742	9,073
Other	(40)	5,275
Changes in operating assets and liabilities, exclusive of acquisitions:
Accounts receivable - trade	441,300	(574,658)
Accounts receivable - affiliates	13,386	(34,576)
Inventories	29,236	154,607
Prepaid expenses and other assets	19,806	(50,510)
Accounts payable - trade	(322,582)	679,945
Accounts payable - affiliates	(14,752)	(64,149)
Accrued expenses and other liabilities	(10,064)	24,314
Advance payments received from customers	17,265	39,424
Net cash provided by operating activities	293,134	81,840
INVESTING ACTIVITIES:
Purchases of long-lived assets	(497,147)	(135,435)
Acquisitions of businesses, including acquired working capital, net of cash acquired	(187,356)	(1,114,045)
Cash flows from commodity derivatives	92,216	190,455
Proceeds from sales of assets	4,981	15,236
Investments in unconsolidated entities	(8,373)	(33,528)
Distributions of capital from unconsolidated entities	14,043	8,736
Loan for natural gas liquids facility	(3,913)	(45,855)
Payment on loan for natural gas liquids facility	5,552
Loan to affiliate	(15,621)
Payments on loan to affiliate	517
Other		(66)
Net cash used in investing activities	(595,101)	(1,114,502)
FINANCING ACTIVITIES:
Proceeds from borrowings under revolving credit facilities	2,042,100	3,096,700
Payments on revolving credit facilities	(1,514,100)	(2,604,700)
Issuance of notes		400,000
Proceeds from borrowings under other long-term debt	53,223
Payments on other long-term debt	(3,649)	(5,476)
Debt issuance costs	(9,684)	(10,826)
Contributions from general partner	54	408
Contributions from noncontrolling interest owners	10,037
Distribution to partners	(238,414)	(176,051)
Distributions to noncontrolling interest owners	(26,638)	(17,497)
Taxes paid on behalf of equity incentive plan participants	(19,303)
Common unit repurchases	(7,707)
Proceeds from sale of common units, net of offering costs		370,376
Other	(76)	(156)
Net cash provided by financing activities	285,843	1,052,778
Net increase (decrease) in cash and cash equivalents	(16,124)	20,116
Cash and cash equivalents, beginning of period	41,303	10,440
Cash and cash equivalents, end of period	$ 25,179	$ 30,556

Organization and Operations

Organization and Operations	9 Months Ended
	Dec. 31, 2015
Organization and Operations
Organization and Operations	Note 1—Organization and Operations NGL Energy Partners LP (“we,” “us,” “our,” or the “Partnership”) is a Delaware limited partnership. NGL Energy Holdings LLC serves as our general partner. At December 31, 2015, our operations include: · Our crude oil logistics segment, the assets of which include owned and leased crude oil storage terminals and pipeline injection stations, a fleet of owned trucks and trailers, a fleet of owned and leased railcars, barges, and towboats, and interests in two crude oil pipelines. Our crude oil logistics segment purchases crude oil from producers and transports it for resale at owned and leased pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs. · Our water solutions segment, the assets of which include water pipelines, water treatment and disposal facilities, washout facilities, and solid waste disposal facilities. Our water solutions segment generates revenues from the treatment and disposal of wastewater generated from crude oil and natural gas production, from the sale of recycled water and recovered hydrocarbons, and from the disposal of solids such as tank bottoms and drilling fluids, as well as truck and frac tank washouts. · Our liquids segment, which supplies natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants throughout the United States and in Canada, and which provides natural gas liquids terminaling and storage services through its 19 owned terminals throughout the United States, its salt dome storage facility in Utah, and its leased storage and railcar transportation services through its fleet of leased railcars. · Our retail propane segment, which sells propane, distillates, and equipment and supplies to end users consisting of residential, agricultural, commercial, and industrial customers and to certain resellers in 25 states and the District of Columbia. · Our refined products and renewables segment conducts gasoline, diesel, ethanol, and biodiesel marketing operations. We also own the 2% general partner interest and a 19.6% limited partner interest in TransMontaigne Partners L.P. (“TLP”), which conducts refined products terminaling, storage, and transportation operations. See Note 17 for a discussion of the sale of the 2% general partner interest in TLP.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Dec. 31, 2015
Significant Accounting Policies
Significant Accounting Policies	Note 2—Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements include our accounts and those of our controlled subsidiaries. All significant intercompany transactions and account balances have been eliminated in consolidation. Investments we cannot control, but can exercise significant influence over, are accounted for using the equity method of accounting. We also own an undivided interest in a crude oil pipeline (see Note 4). We will include our proportionate share of assets, liabilities, and expenses related to this pipeline in our consolidated financial statements. Our unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim consolidated financial information in accordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, the unaudited condensed consolidated financial statements exclude certain information and notes required by GAAP for complete annual consolidated financial statements. However, we believe that the disclosures made are adequate to make the information presented not misleading. The unaudited condensed consolidated financial statements include all adjustments that we consider necessary for a fair presentation of our consolidated financial position and results of operations for the interim periods presented. Such adjustments consist only of normal recurring items, unless otherwise disclosed in this Quarterly Report. The unaudited condensed consolidated balance sheet at March 31, 2015 is derived from our audited consolidated financial statements for the fiscal year ended March 31, 2015 included in our Annual Report on Form 10-K (“Annual Report”). We have reclassified certain prior period financial statement information to be consistent with the classification methods used in the current fiscal year. These reclassifications did not impact previously reported amounts of equity, net income, or cash flows. These interim unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto included in our Annual Report. Due to the seasonal nature of certain of our operations and other factors, the results of operations for interim periods are not necessarily indicative of the results of operations to be expected for future periods or for the full fiscal year ending March 31, 2016. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amount of assets and liabilities reported at the date of the consolidated financial statements and the amount of revenues and expenses reported during the periods presented. Critical estimates we make in the preparation of our condensed consolidated financial statements include determining the fair value of assets and liabilities acquired in business combinations, the collectability of accounts receivable, the recoverability of inventories, useful lives and recoverability of property, plant and equipment and amortizable intangible assets, the impairment of assets, the fair value of asset retirement obligations, the value of equity-based compensation, and accruals for various commitments and contingencies, among others. Although we believe these estimates are reasonable, actual results could differ from those estimates. Significant Accounting Policies Our significant accounting policies are consistent with those disclosed in Note 2 of our audited consolidated financial statements included in our Annual Report. Fair Value Measurements We record our commodity derivative instruments and assets and liabilities acquired in business combinations at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability. We use the following fair value hierarchy, which prioritizes valuation technique inputs used to measure fair value into three broad levels: · Level 1—Quoted prices in active markets for identical assets and liabilities that we have the ability to access at the measurement date. · Level 2—Inputs (other than quoted prices included within Level 1) that are either directly or indirectly observable for the asset or liability, including (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in inactive markets, (iii) inputs other than quoted prices that are observable for the asset or liability, and (iv) inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include non-exchange traded derivatives such as over-the-counter commodity price swap and option contracts. We determine the fair value of all of our derivative financial instruments utilizing pricing models for similar instruments. Inputs to the pricing models include publicly available prices and forward curves generated from a compilation of data gathered from third parties. · Level 3—Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to a fair value measurement requires judgment, considering factors specific to the asset or liability. Revenue Recognition We record product sales revenues when title to the product transfers to the purchaser, which typically occurs when the purchaser receives the product. We record terminaling, transportation, storage, and service revenues when the service is performed, and we record tank and other rental revenues over the lease term. Several of our terminaling service agreements with throughput customers allow us to receive the product volume gained resulting from differences between the measurement of product volumes received and distributed at our terminaling facilities. Such differences are due to the inherent variances in measurement devices and methodology. We record revenues for the net proceeds from the sale of the product gained. Revenues for our water solutions segment are recognized when we obtain the wastewater at our treatment and disposal facilities. We report taxes collected from customers and remitted to taxing authorities, such as sales and use taxes, on a net basis. We include amounts billed to customers for shipping and handling costs in revenues in our condensed consolidated statements of operations. We enter into certain contracts whereby we agree to purchase product from a counterparty and sell the same volume of product to the same counterparty at a different location or time. When such agreements are entered into at the same time and in contemplation of each other, we record the revenues for these transactions net of cost of sales. Revenues during the three months and nine months ended December 31, 2015 include $1.5 million and $4.4 million, respectively, associated with the amortization of a liability recorded in the acquisition accounting for an acquired business related to certain out-of-market revenue contracts. Supplemental Cash Flow Information Supplemental cash flow information is as follows for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) Interest paid, exclusive of debt issuance costs and letter of credit fees $ $ $ $ Income taxes paid (net of income tax refunds) $ ) $ $ $ Cash flows from settlements of commodity derivative instruments are classified as cash flows from investing activities in our condensed consolidated statements of cash flows, and adjustments to the fair value of commodity derivative instruments are included in operating activities. Inventories We value our inventories at the lower of cost or market, with cost determined using either the weighted-average cost or the first in, first out (FIFO) methods, including the cost of transportation and storage. Market is determined based on estimated replacement cost using prices at the end of the reporting period. In performing this analysis, we consider fixed-price forward commitments and the opportunity to transfer propane inventory from our wholesale liquids business to our retail propane business to sell the inventory in retail markets. Inventories consist of the following at the dates indicated: December 31, March 31, 2015 2015 (in thousands) Crude oil $ $ Natural gas liquids— Propane Butane Other Refined products— Gasoline Diesel Renewables Other Total $ $ Investments in Unconsolidated Entities We own noncontrolling interests in certain entities. We account for these investments using the equity method of accounting. Under the equity method, we do not report the individual assets and liabilities of these entities on our condensed consolidated balance sheets; instead, our ownership interests are reported within investments in unconsolidated entities on our condensed consolidated balance sheets. Under the equity method, the investment is recorded at acquisition cost, increased by our proportionate share of any earnings and additional capital contributions and decreased by our proportionate share of any losses, distributions paid, and amortization of any excess investment. Excess investment is the amount by which our total investment exceeds our proportionate share of the historical net book value of the net assets of the investee. Our investments in unconsolidated entities consist of the following at the dates indicated: Ownership Date Acquired December 31, March 31, Entity Segment Interest or Formed 2015 2015 (in thousands) Glass Mountain (1) Crude oil logistics 50.0% December 2013 $ $ BOSTCO (2) Refined products and renewables 42.5% July 2014 Frontera (2) Refined products and renewables 50.0% July 2014 Water supply company Water solutions 35.0% June 2014 Water treatment and disposal facility Water solutions 50.0% August 2015 — Ethanol production facility Refined products and renewables 19.0% December 2013 Retail propane company Retail propane 50.0% April 2015 — Total $ $ (1) When we acquired Gavilon, LLC, (“Gavilon Energy”), we recorded the investment in Glass Mountain Pipeline, LLC (“Glass Mountain”), which owns a crude oil pipeline in Oklahoma, at fair value. Our investment in Glass Mountain exceeds our proportionate share of the historical net book value of Glass Mountain’s net assets by $75.1 million at December 31, 2015. This difference relates primarily to goodwill and customer relationships. (2) When we acquired TransMontaigne Inc. (“TransMontaigne”), we recorded the investments in Battleground Oil Specialty Terminal Company LLC (“BOSTCO”), which owns a refined products storage facility, and Frontera Brownsville LLC (“Frontera”) at fair value. On a combined basis, our investments in BOSTCO and Frontera exceed our proportionate share of the historical net book value of BOSTCO’s and Frontera’s net assets by $15.6 million at December 31, 2015. This difference relates primarily to goodwill. Other Noncurrent Assets Other noncurrent assets consist of the following at the dates indicated: December 31, March 31, 2015 2015 (in thousands) Loan receivable (1) $ $ Linefill (2) Other Total $ $ (1) Represents a loan receivable associated with our financing of the construction of a natural gas liquids facility being used by a third party. (2) Represents minimum volumes of crude oil we are required to leave on certain third-party owned pipelines under long-term shipment commitments. At December 31, 2015, linefill consisted of 487,104 barrels of crude oil. Accrued Expenses and Other Payables Accrued expenses and other payables consist of the following at the dates indicated: December 31, March 31, 2015 2015 (in thousands) Accrued compensation and benefits $ $ Excise and other tax liabilities Derivative liabilities Accrued interest Product exchange liabilities Other Total $ $ Noncontrolling Interests We have certain consolidated subsidiaries in which outside parties own interests. The noncontrolling interest shown in our condensed consolidated financial statements reflects the other owners’ interests in these entities. As part of our acquisition of TransMontaigne on July 1, 2014, we acquired a 2% general partner interest and a 19.7% limited partner interest in TLP. We attribute net earnings allocable to TLP’s limited partners to the controlling and noncontrolling interests based on the relative ownership interests in TLP. Earnings allocable to TLP’s limited partners are net of the earnings allocable to TLP’s general partner interest. The earnings allocable to TLP’s general partner interest include the distributions of cash attributable to the period to TLP’s general partner interest and incentive distribution rights, net of adjustments for TLP’s general partner’s proportionate share of undistributed earnings. Undistributed earnings are allocated to TLP’s limited partners and TLP’s general partner interest based on their ownership percentages of 98% and 2%, respectively. See Note 17 for a discussion of the sale of the 2% general partner interest in TLP. Business Combination Measurement Period We record the assets acquired and liabilities assumed in a business combination at their acquisition date fair values. Pursuant to GAAP, an entity is allowed no more than one year to obtain the information necessary to identify and measure the fair values of the assets acquired and liabilities assumed in a business combination. As described in Note 5, certain acquisitions are still within this measurement period, and as a result, the acquisition date fair values we have recorded for the assets acquired and liabilities assumed are subject to change. Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015—11, “Simplifying the Measurement of Inventory.” The ASU requires that inventory within the scope of the guidance be measured at the lower of cost or net realizable value. The ASU is effective for the Partnership beginning April 1, 2017, although early adoption is permitted. We do not expect the adoption of this ASU to have a material impact on our consolidated financial position or results of operations. In April 2015, the FASB issued ASU No. 2015—03, “Simplifying the Presentation of Debt Issuance Costs.” The ASU requires that debt issuance costs (excluding costs associated with revolving debt arrangements) be presented in the balance sheet as a reduction to the carrying amount of the debt. We plan to adopt this ASU effective March 31, 2016, when we will begin presenting debt issuance costs as a reduction to long-term debt, rather than as an intangible asset. At December 31, 2015, intangible assets on our condensed consolidated balance sheet include $17.4 million of debt issuance costs associated with our senior notes that, upon adoption of this ASU, would be reclassified as a reduction to long-term debt. The ASU requires retrospective application for all prior periods presented. At March 31, 2015, intangible assets on our condensed consolidated balance sheet include $17.8 million of debt issuance costs associated with our senior notes that, upon adoption of this ASU, will be reclassified as a reduction to long-term debt. In May 2014, the FASB issued ASU No. 2014—09, “Revenue from Contracts with Customers.” The ASU will replace most existing revenue recognition guidance in GAAP. The core principle of this ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU is effective for the Partnership beginning April 1, 2018, and allows for both full retrospective and modified retrospective (with cumulative effect) methods of adoption. We are in the process of determining the method of adoption and assessing the impact of this ASU on our consolidated financial statements.

Income (Loss) Per Common Unit

Income (Loss) Per Common Unit	9 Months Ended
	Dec. 31, 2015
Income (Loss) Per Common Unit
Income (Loss) Per Common Unit	Note 3—Income (Loss) Per Common Unit Our income (loss) per common unit is as follows for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands, except unit and per unit amounts) Net income (loss) attributable to parent equity $ $ ) $ ) $ ) Less: Net income allocated to general partner (1) ) ) ) ) Less: Net loss allocated to subordinated unitholders (2) — — — Net income (loss) attributable to common unitholders (basic) ) ) ) Effect of dilutive securities (restricted units) ) — — — Net income (loss) attributable to common unitholders (diluted) $ $ ) $ ) $ ) Basic income (loss) per common unit $ $ ) $ ) $ ) Diluted income (loss) per common unit $ $ ) $ ) $ ) Basic weighted average common units ou t standing Diluted weighted average common units outstanding (1) Net income allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights, which are described in Note 12. (2) All outstanding subordinated units converted to common units in August 2014. Since the subordinated units did not share in the distribution of cash generated after June 30, 2014, we did not allocate any income or loss after that date to the subordinated unitholders. During the three months ended June 30, 2014, 5,919,346 subordinated units were outstanding and the loss per subordinated unit was $(0.68). The diluted weighted average common units outstanding for the three months ended December 31, 2015 included 856,347 restricted units (as described in Note 12) that were considered dilutive for the period. For the nine months ended December 31, 2015 and the three months and nine months ended December 31, 2014, the restricted units were considered antidilutive.

Grand Mesa Pipeline

Grand Mesa Pipeline	9 Months Ended
	Dec. 31, 2015
Grand Mesa Pipeline
Grand Mesa Pipeline	Note 4—Grand Mesa Pipeline In October 2014, we completed a successful open season in which we received the requisite support, in the form of ship-or-pay volume commitments from multiple shippers, to begin construction of Grand Mesa Pipeline, which was planned to originate in Colorado and terminate in Cushing, Oklahoma. In November 2015, we combined the Grand Mesa Pipeline project and entered into an agreement with Saddlehorn Pipeline Company, LLC (“ Saddlehorn ”), under which we acquired a 37.5% undivided interest in a crude oil pipeline currently under construction (the “Joint Pipeline ”). The Joint Pipeline will have several points of origin in Colorado and will terminate in Cushing, Oklahoma. We will have the right to utilize 150,000 barrels per day of capacity on the Joint Pipeline. Operating costs will be allocated to us based on our proportionate ownership interest and throughput. We expect the Joint Pipeline to be operational beginning in the fourth quarter of calendar year 2016. Through our undivided interest in the Joint Pipeline, Grand Mesa will have expanded capacity, sufficient to service our customer contracts at the same origin and termination points with the ability to accept additional volume commitments. We will retain ownership of our previously-acquired easements for the potential future development of transportation projects involving petroleum commodities other than crude oil and condensate. With the consent and participation of Saddlehorn, we and Saddlehorn may consider future opportunities using these easements for projects involving the transportation of crude oil and condensate. We paid $125 million towards the construction of the pipeline during the three months ended December 31, 2015. Prior to reaching the agreement with Saddlehorn, we purchased $87.4 million of pipe that we expected to use for the Grand Mesa Pipeline. During the three months ended December 31, 2015, we reclassified this pipe to assets held for sale. To determine the value of the pipe at December 31, 2015, we inquired of a third party manufacturer as to the current cost of similar pipe. Based on the information we received, the fair value of the pipe approximated our carrying value. To facilitate the sale of this pipe, we notified potential buyers at the end of December 2015 that we would be accepting bids for the pipe through February 15, 2016. Initial discussions held in January 2016 with potential buyers indicated to us that we would probably need to sell the pipe at an amount less than the carrying value as of December 31, 2015. Based on these indications, we expect to record a loss on the sale of these assets during the fourth quarter of fiscal year 2016. In addition, we reclassified $47.0 million of costs to acquire land, rights-of-way, and easements on the originally-planned Grand Mesa Pipeline route as intangible assets in our condensed consolidated balance sheet.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 31, 2015
Acquisitions
Acquisitions	Note 5—Acquisitions Year Ending March 31, 2016 Delaware Basin Water Solutions Facilities On August 24, 2015, we acquired four saltwater disposal facilities and a 50% interest in an additional saltwater disposal facility in the Delaware Basin of the Permian Basin in Texas for $50.0 million of cash. We are in the process of identifying and determining the fair values of the assets acquired and liabilities assumed in this business combination, and as a result, the estimates of fair value at December 31, 2015 are subject to change. We expect to complete this process before we issue our financial statements for the three months ending June 30, 2016. The following table summarizes the preliminary estimates of the fair values of the assets acquired (and useful lives) and liabilities assumed (in thousands): Property, plant and equipment: Water treatment facilities and equipment (3—30 years) $ Land Goodwill Intangible asset: Customer relationships (6 years) Investments in unconsolidated entities Accrued expenses and other payables ) Fair value of net assets acquired $ Goodwill represents the excess of the consideration paid for the acquired business over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill primarily represents the value of synergies between the acquired business and the Partnership and the opportunity to use the acquired business as a platform for growth. We estimate that all of the goodwill will be deductible for federal income tax purposes. Water Solutions Facilities We are party to a development agreement that requires us to purchase water solutions facilities developed by the other party to the agreement. During the nine months ended December 31, 2015, we purchased 12 water treatment and disposal facilities under this development agreement. We also purchased one additional water treatment and disposal facility in December 2015 from a different seller. On a combined basis, we paid $120.0 million of cash and issued 781,255 common units, valued at $18.1 million, in exchange for these facilities. During the nine months ended December 31, 2015, we completed the acquisition accounting for six of these water treatment and disposal facilities. The following table summarizes the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for these water treatment and disposal facilities: Property, plant and equipment: Water treatment facilities and equipment (3—30 years) $ Buildings and leasehold improvements (7—30 years) Land Other (5 years) Goodwill Accrued expenses and other payables ) Other noncurrent liabilities ) Fair value of net assets acquired $ We are in the process of identifying and determining the fair values of the assets acquired and liabilities assumed for the other seven water treatment and disposal facilities, and as a result, the estimates of fair value at December 31, 2015 are subject to change. We expect to complete this process before we issue our financial statements for the three months ending September 30, 2016. The following table summarizes the preliminary estimates of the fair values of the assets acquired (and useful lives) and liabilities assumed (in thousands): Property, plant and equipment: Water treatment facilities and equipment (3—30 years) $ Buildings and leasehold improvements (7—30 years) Land Other (5 years) Goodwill Accrued expenses and other payables ) Other noncurrent liabilities ) Fair value of net assets acquired $ Goodwill represents the excess of the consideration paid for the acquired business over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill primarily represents the value of synergies between the acquired business and the Partnership and the opportunity to use the acquired business as a platform for growth. We estimate that all of the goodwill will be deductible for federal income tax purposes. Retail Propane Businesses During the nine months ended December 31, 2015, we acquired five retail propane businesses. On a combined basis, we paid $17.4 million of cash and issued 52,199 common units, valued at $1.0 million, in exchange for these assets and operations. The agreements for these acquisitions contemplate post-closing payments for certain working capital items. We are in the process of identifying and determining the fair values of the assets acquired and liabilities assumed in these business combinations, and as a result, the estimates of fair value at December 31, 2015 are subject to change. We expect to complete this process before we issue our financial statements for the three months ending September 30, 2016. Year Ended March 31, 2015 As described in Note 2, pursuant to GAAP, an entity is allowed no more than one year to obtain the information necessary to identify and measure the fair values of the assets acquired and liabilities assumed in a business combination. The changes we made during the nine months ended December 31, 2015 to the estimated acquisition date fair values of assets acquired and liabilities assumed in these business combinations are described below. We have not retrospectively adjusted previously issued financial statements for these changes, as we do not believe the changes are material. Natural Gas Liquids Storage Facility In February 2015, we acquired Sawtooth NGL Caverns, LLC (“Sawtooth”), which owns a natural gas liquids salt dome storage facility in Utah with rail and truck access to western United States markets and entered into a construction agreement to expand the storage capacity of the facility. We paid $97.6 million of cash, net of cash acquired, and issued 7,396,973 common units, valued at $218.5 million, in exchange for these assets and operations. During the nine months ended December 31, 2015, we completed the acquisition accounting for this business combination. The following table summarizes the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for this acquisition: Estimated At March 31, Final 2015 Change (in thousands) Accounts receivable—trade $ $ $ — Inventories — Prepaid expenses and other current assets Property, plant and equipment: Natural gas liquids terminal and storage assets (2—30 years) ) Vehicles and railcars (3—25 years) Land Other ) Construction in progress — Goodwill Intangible assets: Customer relationships (15 years) ) Non-compete agreements (10 years) ) Accounts payable—trade ) ) — Accrued expenses and other payables ) ) ) Advance payments received from customers ) ) — Other noncurrent liabilities ) ) — Fair value of net assets acquired $ $ $ — Goodwill represents the excess of the consideration paid for the acquired business over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill primarily represents the value of synergies between the acquired business and the Partnership, the opportunity to use the acquired business as a platform for growth, and the acquired assembled workforce. We estimate that all of the goodwill will be deductible for federal income tax purposes. We estimated the value of the customer relationship intangible asset using the income approach, which uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts. The acquisition method of accounting requires that executory contracts with unfavorable terms relative to market conditions at the acquisition date be recorded as assets or liabilities in the acquisition accounting. Since certain storage leases were at unfavorable terms relative to acquisition date market conditions, we recorded a liability of $12.8 million related to these leases in the acquisition accounting, a portion of which we recorded to accrued expenses and other payables and a portion of which we recorded to other noncurrent liabilities. We amortized $4.4 million of this balance as an increase to revenues during the nine months ended December 31, 2015. We will amortize the remainder of this liability over the terms of the leases. The following table summarizes the future amortization of this liability (in thousands): Year Ending March 31, 2016 (three months) $ 2017 2018 2019 Bakken Water Solutions Facilities On November 21, 2014, we acquired two saltwater disposal facilities in the Bakken shale play in North Dakota for $34.6 million of cash. During the six months ended September 30, 2015, we completed the acquisition accounting for these water treatment and disposal facilities. The following table summarizes the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for these water treatment and disposal facilities: Estimated At March 31, Final 2015 Change (in thousands) Property, plant and equipment: Vehicles (10 years) $ $ $ — Water treatment facilities and equipment (3—30 years) — Buildings and leasehold improvements (7—30 years) — Land — Goodwill ) Intangible asset: Customer relationships (7 years) Other noncurrent assets — Other noncurrent liabilities ) ) ) Fair value of net assets acquired $ $ $ — Goodwill represents the excess of the consideration paid for the acquired business over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill primarily represents the value of synergies between the acquired business and the Partnership and the opportunity to use the acquired business as a platform for growth. We estimate that all of the goodwill will be deductible for federal income tax purposes. We estimated the value of the customer relationship intangible asset using the income approach, which uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts. TransMontaigne Inc. On July 1, 2014, we acquired TransMontaigne for $200.3 million of cash, net of cash acquired (including $174.1 million paid at closing and $26.2 million paid upon completion of the working capital settlement). As part of this transaction, we also purchased $380.4 million of inventory from the previous owner of TransMontaigne (including $346.9 million paid at closing and $33.5 million subsequently paid as the working capital settlement process progressed). The operations of TransMontaigne include the marketing of refined products. As part of this transaction, we acquired the 2.0% general partner interest, the incentive distribution rights, a 19.7% limited partner interest in TLP, and assumed certain terminaling service agreements with TLP from an affiliate of the previous owner of TransMontaigne. During the three months ended June 30, 2015, we completed the acquisition accounting for this business combination. The following table summarizes the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for this acquisition: Estimated At March 31, Final 2015 Change (in thousands) Cash and cash equivalents $ $ $ — Accounts receivable—trade Accounts receivable—affiliates — Inventories — Prepaid expenses and other current assets Property, plant and equipment: Refined products terminal assets and equipment (20 years) Vehicles ) Crude oil tanks and related equipment (20 years) Information technology equipment — Buildings and leasehold improvements (20 years) Land ) Tank bottoms (indefinite life) — Other Construction in progress — Goodwill Intangible assets: Customer relationships (15 years) ) Pipeline capacity rights (30 years) — Investments in unconsolidated entities — Other noncurrent assets — Accounts payable—trade ) ) ) Accounts payable—affiliates ) ) — Accrued expenses and other payables ) ) ) Advance payments received from customers ) ) — Long-term debt ) ) — Other noncurrent liabilities ) ) — Noncontrolling interests ) ) — Fair value of net assets acquired $ $ $ — Goodwill represents the excess of the consideration paid for the acquired business over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill primarily represents the value of synergies between the acquired business and the Partnership, the opportunity to use the acquired business as a platform for growth, and the acquired assembled workforce. We estimate that all of the goodwill will be deductible for federal income tax purposes. We estimated the value of the customer relationship intangible asset using the income approach, which uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts. The intangible asset for pipeline capacity rights relates to capacity allocations on a third-party refined products pipeline. Demand for use of this pipeline exceeds the pipeline’s capacity, and the limited capacity is allocated based on a shipper’s historical shipment volumes. The fair value of the noncontrolling interests was calculated by multiplying the closing price of TLP’s common units on the acquisition date by the number of TLP common units held by parties other than us, adjusted for a lack-of-control discount. See Note 17 for a discussion of the sale of the 2% general partner interest in TLP. Water Solutions Facilities We are party to a development agreement that requires us to purchase water solutions facilities developed by the other party to the agreement. During the year ended March 31, 2015, we purchased 16 water treatment and disposal facilities under this development agreement. We also purchased a 75% interest in one additional water treatment and disposal facility in July 2014 from a different seller. On a combined basis, we paid $190.0 million of cash and issued 1,322,032 common units, valued at $37.8 million, in exchange for these 17 facilities. During the nine months ended December 31, 2015, we completed the acquisition accounting for all of these water treatment and disposal facilities. The following table summarizes the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for these water treatment and disposal facilities: Estimated At March 31, Final 2015 Change (in thousands) Accounts receivable—trade $ $ $ — Inventories — Prepaid expenses and other current assets — Property, plant and equipment: Water treatment facilities and equipment (3–30 years) Buildings and leasehold improvements (7–30 years) Land Other (5 years) Goodwill ) Intangible asset: Customer relationships (4 years) — Other noncurrent assets — Accounts payable—trade ) ) — Accrued expenses and other payables ) ) — Other noncurrent liabilities ) ) — Noncontrolling interest ) ) — Fair value of net assets acquired $ $ $ — Goodwill represents the excess of the consideration paid for the acquired business over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill primarily represents the value of synergies between the acquired business and the Partnership and the opportunity to use the acquired business as a platform for growth. We estimate that all of the goodwill will be deductible for federal income tax purposes. Retail Propane Businesses During the year ended March 31, 2015, we acquired eight retail propane businesses. On a combined basis, we paid $39.1 million of cash and issued 132,100 common units, valued at $3.7 million, in exchange for these assets and operations. During the six months ended September 30, 2015, we completed the acquisition accounting for all of these business combinations. The following table summarizes the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for these acquisitions: Estimated At March 31, Final 2015 Change (in thousands) Accounts receivable—trade $ $ $ — Inventories — Prepaid expenses and other current assets — Property, plant and equipment: Retail propane equipment (15–20 years) — Vehicles and railcars (5–7 years) — Buildings and leasehold improvements (30 years) ) Land ) Other (5–7 years) Goodwill — Intangible assets: Customer relationships (10–15 years) — Non-compete agreements (5–7 years) — Trade names (3–12 years) — Accounts payable—trade ) ) Advance payments received from customers ) ) — Current maturities of long-term debt ) ) — Long-term debt, net of current maturities ) ) — Fair value of net assets acquired $ $ $ — We estimated the value of the customer relationship intangible asset using the income approach, which uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment
Property, Plant and Equipment	Note 6—Property, Plant and Equipment Our property, plant and equipment consists of the following at the dates indicated: Estimated December 31, March 31, Description Useful Lives 2015 2015 (in thousands) Natural gas liquids terminal and storage assets 2–30 years $ $ Refined products terminal assets and equipment 20 years Retail propane equipment 2–30 years Vehicles and railcars 3–25 years Water treatment facilities and equipment 3–30 years Crude oil tanks and related equipment 2–40 years Barges and towboats 5–40 years Information technology equipment 3–7 years Buildings and leasehold improvements 3–40 years Land Tank bottoms Other 3–30 years Construction in progress Accumulated depreciation ) ) Net property, plant and equipment $ $ The following table summarizes depreciation expense for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) $ $ $ $ Tank bottoms, which are product volumes required for the operation of storage tanks, are recorded at historical cost. We recover tank bottoms when the storage tanks are removed from service. The following table summarizes the tank bottoms included in the table above at the dates indicated: December 31, 2015 March 31, 2015 Volume Volume Product (in barrels) Value (in barrels) Value (in thousands) Gasoline $ $ Crude oil Diesel Renewables Other Total $ $

Goodwill

Goodwill	9 Months Ended
	Dec. 31, 2015
Goodwill
Goodwill	Note 7—Goodwill The following table summarizes changes in goodwill by segment for the nine months ended December 31, 2015: Refined Crude Oil Water Retail Products and Logistics Solutions Liquids Propane Renewables Total (in thousands) Balances at March 31, 2015 $ $ $ $ $ $ Revisions to acquisition accounting (Note 5) — ) — Acquisitions (Note 5) — — — Balances at December 31, 2015 $ $ $ $ $ $

Intangible Assets

Intangible Assets	9 Months Ended
	Dec. 31, 2015
Intangible Assets
Intangible Assets	Note 8—Intangible Assets Our intangible assets consist of the following at the dates indicated: December 31, 2015 March 31, 2015 Estimated Gross Carrying Accumulated Gross Carrying Accumulated Description Useful Lives Amount Amortization Amount Amortization (in thousands) Amortizable— Customer relationships 3–20 years $ $ $ $ Pipeline capacity rights 30 years Water facility development agreement 5 years Executory contracts and other agreements 2–10 years Non-compete agreements 2–10 years Trade names 2–12 years Debt issuance costs 1–10 years Total amortizable Non-amortizable— Customer commitments — — Rights-of-way and easements (1) — — — Trade names — — Total non-amortizable — — Total $ $ $ $ (1) As described in Note 4, we acquired land, rights-of-way, and easements along a planned pipeline route. We later acquired an undivided interest in a different crude oil pipeline with the same origin and destination points as those of our originally-planned route. We will retain the land, rights-of-way, and easements along the originally-planned route for potential future development. The weighted-average remaining amortization period for intangible assets is approximately 12 years. Amortization expense is as follows for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, Recorded In 2015 2014 2015 2014 (in thousands) Depreciation and amortization $ $ $ $ Cost of sales Interest expense Total $ $ $ $ Expected amortization of our intangible assets, exclusive of assets that are not yet amortizable, is as follows (in thousands): Year Ending March 31, 2016 (three months) $ 2017 2018 2019 2020 Thereafter Total $

Long-Term Debt

Long-Term Debt	9 Months Ended
	Dec. 31, 2015
Long-Term Debt
Long-Term Debt	Note 9—Long-Term Debt Our long-term debt consists of the following at the dates indicated: December 31, March 31, 2015 2015 (in thousands) Revolving credit facility— Expansion capital borrowings $ $ Working capital borrowings 5.125% Notes due 2019 6.875% Notes due 2021 6.650% Notes due 2022 TLP credit facility Other long-term debt Less: Current maturities Long-term debt $ $ Credit Agreement We have entered into a credit agreement (as amended, the “Credit Agreement”) with a syndicate of banks. The Credit Agreement includes a revolving credit facility to fund working capital needs (the “Working Capital Facility”) and a revolving credit facility to fund acquisitions and expansion projects (the “Expansion Capital Facility,” and together with the Working Capital Facility, the “Revolving Credit Facility”). At December 31, 2015, our Revolving Credit Facility had a total capacity of $2.474 billion. Our Revolving Credit Facility has an “accordion” feature that allows us to increase the capacity by $150.0 million if new lenders wish to join the syndicate or if current lenders wish to increase their commitments. The Expansion Capital Facility had a total capacity of $1.436 billion for cash borrowings at December 31, 2015. At that date, we had outstanding borrowings of $1.317 billion on the Expansion Capital Facility. The Working Capital Facility had a total capacity of $1.038 billion for cash borrowings and letters of credit at December 31, 2015. At that date, we had outstanding borrowings of $603.5 million and outstanding letters of credit of $117.1 million on the Working Capital Facility. Amounts outstanding for letters of credit are not recorded as long-term debt on our condensed consolidated balance sheets, although they decrease our borrowing capacity under the Working Capital Facility. The capacity available under the Working Capital Facility may be limited by a “borrowing base” (as defined in the Credit Agreement), which is calculated based on the value of certain working capital items at any point in time. The commitments under the Credit Agreement mature on November 5, 2018. We have the right to prepay outstanding borrowings under the Credit Agreement without incurring any penalties, and prepayments of principal may be required if we enter into certain transactions to sell assets or obtain new borrowings. All borrowings under the Credit Agreement bear interest, at our option, at either (i) an alternate base rate plus a margin of 0.50% to 1.50% per year or (ii) an adjusted LIBOR rate plus a margin of 1.50% to 2.50% per year. The applicable margin is determined based on our consolidated leverage ratio (as defined in the Credit Agreement). At December 31, 2015, the borrowings under the Credit Agreement were LIBOR borrowings with an interest rate at December 31, 2015 of 2.68%, calculated as the LIBOR rate of 0.43% plus a margin of 2.25%. At December 31, 2015, the interest rate in effect on letters of credit was 2.50%. Commitment fees are charged at a rate ranging from 0.38% to 0.50% on any unused capacity. The Credit Agreement is secured by substantially all of our assets. In December 2015, we entered into an agreement with the banks to increase our maximum leverage ratio to 4.50 to 1 at any quarter end. The leverage coverage ratio in our Credit Agreement excludes TLP’s debt. At December 31, 2015, our leverage ratio was approximately 4.0 to 1. The Credit Agreement also specifies that our interest coverage ratio (as defined in the Credit Agreement) cannot be less than 2.75 to 1 at any quarter end. At December 31, 2015, our interest coverage ratio was approximately 5.6 to 1. The Credit Agreement contains various customary representations, warranties, and additional covenants, including, without limitation, limitations on fundamental changes and limitations on indebtedness and liens. Our obligations under the Credit Agreement may be accelerated following certain events of default (subject to applicable cure periods), including, without limitation, (i) the failure to pay principal or interest when due, (ii) a breach by the Partnership or its subsidiaries of any material representation or warranty or any covenant made in the Credit Agreement, or (iii) certain events of bankruptcy or insolvency. At December 31, 2015, we were in compliance with the covenants under the Credit Agreement. 2019 Notes On July 9, 2014, we issued $400.0 million of 5.125% Senior Notes Due 2019 (the “2019 Notes”). The 2019 Notes mature on July 15, 2019. Interest is payable on January 15 and July 15 of each year. We have the right to redeem the 2019 Notes before the maturity date, although we would be required to pay a premium for early redemption. The Partnership and NGL Energy Finance Corp. are co-issuers of the 2019 Notes, and the obligations under the 2019 Notes are guaranteed by certain of our existing and future restricted subsidiaries that incur or guarantee indebtedness under certain of our other indebtedness, including the Revolving Credit Facility. The indenture governing the 2019 Notes contains various customary covenants, including, without limitation, limitations on fundamental changes and limitations on indebtedness and liens. Our obligations under the indenture may be accelerated following certain events of default (subject to applicable cure periods), including, without limitation, (i) the failure to pay principal or interest when due, (ii) experiencing an event of default on certain other debt agreements, or (iii) certain events of bankruptcy or insolvency. At December 31, 2015, we were in compliance with the covenants under the indenture governing the 2019 Notes. 2021 Notes On October 16, 2013, we issued $450.0 million of 6.875% Senior Notes Due 2021 (the “2021 Notes”). The 2021 Notes mature on October 15, 2021. Interest is payable on April 15 and October 15 of each year. We have the right to redeem the 2021 Notes before the maturity date, although we would be required to pay a premium for early redemption. The Partnership and NGL Energy Finance Corp. are co-issuers of the 2021 Notes, and the obligations under the 2021 Notes are guaranteed by certain of our existing and future restricted subsidiaries that incur or guarantee indebtedness under certain of our other indebtedness, including the Revolving Credit Facility. The indenture governing the 2021 Notes contains various customary covenants, including, without limitation, limitations on fundamental changes and limitations on indebtedness and liens. Our obligations under the indenture may be accelerated following certain events of default (subject to applicable cure periods), including, without limitation, (i) the failure to pay principal or interest when due, (ii) experiencing an event of default on certain other debt agreements, or (iii) certain events of bankruptcy or insolvency. At December 31, 2015, we were in compliance with the covenants under the indenture governing the 2021 Notes. 2022 Notes On June 19, 2012, we entered into a Note Purchase Agreement (as amended, the “Note Purchase Agreement”) whereby we issued $250.0 million of Senior Notes in a private placement (the “2022 Notes”). The 2022 Notes bear interest at a fixed rate of 6.65%, which is payable quarterly. The 2022 Notes are required to be repaid in semi-annual installments of $25.0 million beginning on December 19, 2017 and ending on the maturity date of June 19, 2022. We have the option to prepay outstanding principal, although we would incur a prepayment penalty. The 2022 Notes are secured by substantially all of our assets and rank equal in priority with borrowings under the Credit Agreement. The Note Purchase Agreement contains various customary representations, warranties, and additional covenants that, among other things, limit our ability to (subject to certain exceptions): (i) incur additional debt, (ii) pay dividends and make other restricted payments, (iii) create or permit certain liens, (iv) create or permit restrictions on the ability of certain of our subsidiaries to pay dividends or make other distributions to us, (v) enter into transactions with affiliates, (vi) enter into sale and leaseback transactions and (vii) consolidate, merge, or sell all or substantially all or any portion of our assets. In addition, the Note Purchase Agreement contains similar leverage ratio and interest coverage ratio requirements to those of our Credit Agreement described above. In December 2015, we amended the Note Purchase Agreement to change the covenants to mirror the changes made to the covenants in our Credit Agreement. In addition, we agreed to pay an additional 0.5% per year in interest if our leverage ratio exceeds 4.25 to 1. The Note Purchase Agreement provides for customary events of default that include, among other things (subject to customary grace and cure periods in certain cases): (i) failure to pay principal or interest when due, (ii) breach of certain covenants contained in the Note Purchase Agreement or the 2022 Notes, (iii) failure to pay certain other indebtedness or the acceleration of certain other indebtedness before maturity if the total amount of such indebtedness unpaid or accelerated exceeds $10.0 million, (iv) the rendering of a judgment for the payment of money in excess of $10.0 million, (v) the failure of the Note Purchase Agreement, the 2022 Notes, or the guarantees by the subsidiary guarantors to be in full force and effect in all material respects and (vi) certain events of bankruptcy or insolvency. Generally, if an event of default occurs (subject to certain exceptions), the trustee or the holders of at least 51% in aggregate principal amount of the then outstanding 2022 Notes may declare all of the 2022 Notes to be due and payable immediately. At December 31, 2015, we were in compliance with the covenants under the Note Purchase Agreement. TLP Credit Facility TLP is party to a credit agreement with a syndicate of banks that provides for a revolving credit facility (the “TLP Credit Facility”). The TLP Credit Facility provides for a maximum borrowing line of credit equal to the lesser of (i) $400 million or (ii) 4.75 times Consolidated EBITDA (as defined in the TLP Credit Facility). The terms of the TLP Credit Facility include covenants that restrict TLP’s ability to make cash distributions, acquisitions and investments, including investments in joint ventures. TLP may make distributions of cash to the extent of TLP’s “available cash” (as defined in TLP’s partnership agreement). TLP may make acquisitions and investments that meet the definition of “permitted acquisitions,” “other investments” which may not exceed 5% of “consolidated net tangible assets,” and additional future “permitted JV investments” up to $125 million, which may include additional investments in BOSTCO. The commitments under the TLP Credit Facility mature on July 31, 2018. TLP may elect to have loans under the TLP Credit Facility bear interest at either (i) a rate of LIBOR plus a margin ranging from 2% to 3% depending on the total leverage ratio then in effect, or (ii) the base rate plus a margin ranging from 1% to 2% depending on the total leverage ratio then in effect. TLP also pays commitment fees on any unused capacity, ranging from 0.375% to 0.5% per year, depending on the total leverage ratio then in effect. For the three months ended December 31, 2015, the weighted-average interest rate on borrowings under the TLP Credit Facility was approximately 2.9%. TLP’s obligations under the TLP Credit Facility are secured by a first priority security interest in favor of the lenders in the majority of TLP’s assets, including TLP’s investments in unconsolidated entities. At December 31, 2015, TLP had outstanding borrowings under the TLP Credit Facility of $248.0 million and no outstanding letters of credit. The TLP Credit Facility also contains customary representations and warranties (including those relating to organization and authorization, compliance with laws, absence of defaults, material agreements and litigation) and customary events of default (including those relating to monetary defaults, covenant defaults, cross defaults and bankruptcy events). The primary financial covenants contained in the TLP Credit Facility are (i) a total leverage ratio test (not to exceed 4.75 times), (ii) a senior secured leverage ratio test (not to exceed 3.75 times) if TLP issues senior unsecured notes, and (iii) a minimum interest coverage ratio test (not less than 3.0 times). These financial covenants are based on “Consolidated EBITDA” (as defined in the TLP Credit Facility). The TLP Credit Facility is non-recourse to the Partnership. At December 31, 2015, TLP was in compliance with the covenants under the TLP Credit Facility. The following table summarizes our basis in the assets and liabilities of TLP at December 31, 2015, inclusive of the impact of our acquisition accounting for the business combination with TransMontaigne (in thousands): Cash and cash equivalents $ Accounts receivable—trade Accounts receivable—affiliates Inventories Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets, net Investments in unconsolidated entities Other noncurrent assets Accounts payable—trade ) Accounts payable—affiliates ) Net intercompany payable ) Accrued expenses and other payables ) Advanced payments received from customers ) Long-term debt ) Other noncurrent liabilities ) Net assets $ Other Long-Term Debt We have executed various noninterest bearing notes payable, primarily related to non-compete agreements entered into in connection with acquisitions of businesses. We also have certain notes payable related to equipment financing. These instruments have a combined principal balance of $62.6 million at December 31, 2015, and the interest rates on these instruments range from 2.06% to 8.60% per year. Debt Maturity Schedule The scheduled maturities of our long-term debt are as follows at December 31, 2015: Revolving TLP Other Credit 2019 2021 2022 Credit Long-Term Year Ending March 31, Facility Notes Notes Notes Facility Debt Total (in thousands) 2016 (three months) $ — $ — $ — $ — $ — $ $ 2017 — — — — — 2018 — — — — 2019 — — 2020 — — — Thereafter — — — Total $ $ $ $ $ $ $

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2015
Income Taxes
Income Taxes	Note 10—Income Taxes We qualify as a partnership for income tax purposes. As such, we generally do not pay United States federal income tax. Rather, each owner reports his or her proportionate share of our income or loss on his or her individual tax return. The aggregate difference in the basis of our net assets for financial and tax reporting purposes cannot be readily determined, as we do not have access to information regarding each partner’s basis in the Partnership. We have certain taxable corporate subsidiaries in the United States and in Canada, and our operations in Texas are subject to a state franchise tax that is calculated based on revenues net of cost of sales. Our fiscal years 2012 to 2015 generally remain subject to examination by federal, state, and Canadian tax authorities. We use the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which these temporary differences are expected to be recovered or settled. Changes in tax rates are recognized in income in the period that includes the enactment date. A publicly traded partnership is required to generate at least 90% of its gross income (as defined for federal income tax purposes) from certain qualifying sources. Income generated by our taxable corporate subsidiaries is excluded from this qualifying income calculation. Although we routinely generate income outside of our corporate subsidiaries that is non-qualifying, we believe that at least 90% of our gross income has been qualifying income for each of the calendar years since our initial public offering. We evaluate uncertain tax positions for recognition and measurement in the consolidated financial statements. To recognize a tax position, we determine whether it is more likely than not that the tax position will be sustained upon examination, including resolution of any related appeals or litigation, based on the technical merits of the position. A tax position that meets the more likely than not threshold is measured to determine the amount of benefit to be recognized in the consolidated financial statements. We had no material uncertain tax positions that required recognition in our condensed consolidated financial statements at December 31, 2015 or March 31, 2015.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Commitments and Contingencies	Note 11—Commitments and Contingencies Legal Contingencies We are party to various claims, legal actions, and complaints arising in the ordinary course of business. In the opinion of our management, the ultimate resolution of these claims, legal actions, and complaints, after consideration of amounts accrued, insurance coverage, and other arrangements, is not expected to have a material adverse effect on our consolidated financial position, results of operations or cash flows. However, the outcome of such matters is inherently uncertain, and estimates of our liabilities may change materially as circumstances develop. Environmental Matters Our condensed consolidated balance sheet at December 31, 2015 includes a liability of $3.6 million related to environmental matters, which is reported within accrued expenses and other payables. Our operations are subject to extensive federal, state, and local environmental laws and regulations. Although we believe our operations are in substantial compliance with applicable environmental laws and regulations, risks of additional costs and liabilities are inherent in our business, and there can be no assurance that we will not incur significant costs. Moreover, it is possible that other developments, such as increasingly stringent environmental laws, regulations and enforcement policies thereunder, and claims for damages to property or persons resulting from the operations, could result in substantial costs. Accordingly, we have adopted policies, practices, and procedures in the areas of pollution control, product safety, occupational health, and the handling, storage, use, and disposal of hazardous materials designed to prevent material environmental or other damage, and to limit the financial liability that could result from such events. However, some risk of environmental or other damage is inherent in our business. The U.S. Environmental Protection Agency (“EPA”) has informed NGL Crude Logistics, LLC (“NGL Crude”; formerly known as Gavilon Energy prior to its acquisition by us in December 2013) of alleged violations in 2011 by Gavilon Energy of the Clean Air Act’s renewable fuel standards regulations. The EPA’s allegations relate to transactions between Gavilon Energy and one of its suppliers and the generation of biodiesel renewable identification numbers sold by such supplier to Gavilon Energy in 2011. We have vigorously denied the allegations. In an effort to resolve this matter, the parties have recently commenced settlement negotiations, which are ongoing. At this time, we are unable to ascertain whether the settlement discussions will produce a resolution satisfactory to us or whether the EPA will seek resolution of the matter through an enforcement action. As a result, we are also unable to determine the likely terms of any resolution or their significance to us. Although we believe we have legal defenses, it is reasonably possible that we may agree to pay the EPA some amount to settle the matter. Asset Retirement Obligations Our condensed consolidated balance sheet at December 31, 2015 includes a liability of $5.0 million related to asset retirement obligations, which is reported within other noncurrent liabilities. This liability is related to contractual and regulatory obligations at certain facilities for which we have to perform remediation, dismantlement, or removal activities when the assets are retired. Our liability for asset retirement obligations is discounted to present value. To calculate the liability, we make estimates and assumptions about the retirement cost and the timing of retirement. Changes in our assumptions and estimates may occur as a result of the passage of time and the occurrence of future events. In addition to the obligations described above, we may be required to remove facilities or perform other remediation upon retirement of certain other assets. We believe the present value of these asset retirement obligations, under current laws and regulations, after considering the estimated lives of our facilities, is not material to our consolidated financial position or results of operations. Operating Leases We have executed various noncancelable operating lease agreements for product storage, office space, vehicles, real estate, railcars, and equipment. The following table summarizes future minimum lease payments under these agreements at December 31, 2015 (in thousands): Year Ending March 31, 2016 (three months) $ 2017 2018 2019 2020 Thereafter Total $ The following table summarizes rental expense for operating leases for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) $ $ $ $ Pipeline Capacity Agreements We have executed noncancelable agreements with crude oil and refined products pipeline operators, which guarantee us minimum monthly shipping capacity on the pipelines. As a result, we are required to pay the minimum shipping fees if actual shipments are less than our allotted capacity. The following table summarizes future minimum throughput payments under these agreements at December 31, 2015 (in thousands): Year Ending March 31, 2016 (three months) $ 2017 2018 2019 2020 Thereafter Total $ Sales and Purchase Contracts We have entered into product sales and purchase contracts for which we expect the parties to physically settle and deliver the inventory in future periods. The following table summarizes such commitments at December 31, 2015: Volume Value (in thousands) Purchase commitments: Natural gas liquids fixed-price (gallons) $ Natural gas liquids index-price (gallons) Crude oil fixed-price (barrels) Crude oil index-price (barrels) Sale commitments: Natural gas liquids fixed-price (gallons) Natural gas liquids index-price (gallons) Crude oil fixed-price (barrels) Crude oil index-price (barrels) We account for the contracts shown in the table above as normal purchases and normal sales. Under this accounting policy election, we do not record the contracts at fair value at each balance sheet date; instead, we record the purchase or sale at the contracted value once the delivery occurs. Contracts in the table above may have offsetting derivative contracts (see Note 13) or inventory positions (see Note 2). Certain other forward purchase and sale contracts do not qualify for the normal purchase and normal sale election. These contracts are recorded at fair value in our condensed consolidated balance sheet and are not included in the table above. These contracts are included in the derivative disclosures in Note 13, and represent $41.3 million of our prepaid expenses and other current assets and $30.0 million of our accrued expenses and other payables at December 31, 2015.

Equity

Equity	9 Months Ended
	Dec. 31, 2015
Equity
Equity	Note 12—Equity Partnership Equity The Partnership’s equity consists of a 0.1% general partner interest and a 99.9% limited partner interest, which consists of common units. Our general partner is not required to make any additional capital contributions or to guarantee or pay any of our debts and obligations. Common Units Issued in Business Combinations During the nine months ended December 31, 2015, we issued 833,454 common units, valued at $19.1 million, as consideration for certain business combinations. Common Unit Repurchase Program On September 10, 2015, the Board of Directors of our general partner authorized a common unit repurchase program, under which we may repurchase up to $45 million of our outstanding common units through March 31, 2016. We may repurchase common units from time to time in the open market or in other privately negotiated transactions. The common unit repurchase program authorization does not obligate us to repurchase any dollar amount or number of our common units. During the nine months ended December 31, 2015, we repurchased 398,141 common units for an aggregate price of $7.7 million. Our Distribution Policy Our general partner has adopted a cash distribution policy that requires us to pay a quarterly distribution to unitholders as of the record date to the extent we have sufficient cash from operations after establishment of cash reserves and payment of fees and expenses, including payments to the general partner and its affiliates, referred to as “available cash.” The general partner will also receive, in addition to distributions on its 0.1% general partner interest, additional distributions based on the level of distributions to the limited partners. These distributions are referred to as “incentive distributions” or “IDRs.” Our general partner currently holds the IDRs, but may transfer these rights separately from its general partner interest, subject to restrictions in our partnership agreement. The following table illustrates the percentage allocations of available cash from operating surplus between our limited partners and our general partner based on the specified target distribution levels. The amounts set forth under “Marginal Percentage Interest In Distributions” are the percentage interests of our general partner and our limited partners in any available cash from operating surplus we distribute up to and including the corresponding amount in the column “Total Quarterly Distribution Per Common Unit,” until available cash from operating surplus we distribute reaches the next target distribution level, if any. The percentage interests shown for our limited partners and our general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for our general partner include its 0.1% general partner interest, and assume that our general partner has contributed any additional capital necessary to maintain its 0.1% general partner interest and has not transferred its IDRs. Marginal Percentage Interest In Distributions Total Quarterly Distribution Per Common Unit Limited Partners General Partner Minimum quarterly distribution $ % % First target distribution above $ up to $ % % Second target distribution above $ up to $ % % Third target distribution above $ up to $ % % Thereafter above $ % % In January 2016, we declared a distribution of $0.64 per common unit, to be paid on February 15, 2016 to unitholders of record on February 3, 2016. This distribution is expected to be $83.6 million, including amounts to be paid on common and general partner notional units as well as an incentive distribution. TLP’s Distribution Policy TLP’s partnership agreement requires it to pay a quarterly distribution to unitholders as of the record date to the extent TLP has sufficient cash from operations after establishment of cash reserves and payment of fees and expenses, including payments to TLP’s general partner and its affiliates, referred to as “available cash.” TLP’s general partner will also receive, in addition to distributions on its 2.0% general partner interest, additional distributions based on the level of distributions to the limited partners. These distributions are referred to as “incentive distributions” or “IDRs.” TLP’s general partner currently holds the IDRs, but may transfer these rights separately from its general partner interest, subject to restrictions in TLP’s partnership agreement. The following table illustrates the percentage allocations of available cash from operating surplus between TLP’s limited partners and TLP’s general partner based on the specified target distribution levels. The amounts set forth under “Marginal Percentage Interest In Distributions” are the percentage interests of TLP’s general partner and TLP’s limited partners in any available cash from operating surplus TLP distributes up to and including the corresponding amount in the column “Total Quarterly Distribution Per Common Unit,” until available cash from operating surplus TLP distributes reaches the next target distribution level, if any. The percentage interests shown for TLP’s limited partners and TLP’s general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for TLP’s general partner include its 2.0% general partner interest, and assume that TLP’s general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest and has not transferred its IDRs. Marginal Percentage Interest In Distributions Total Quarterly Distribution Per Common Unit Limited Partners General Partner Minimum quarterly distribution $ % % First target distribution above $ up to $ % % Second target distribution above $ up to $ % % Third target distribution above $ up to $ % % Thereafter above $ % % In January 2016, TLP declared a distribution of $0.67 per common unit, which was paid on February 8, 2016. We received a total of $4.1 million from this distribution on our general partner interest, IDRs, and limited partner interest. The noncontrolling interest owners received a total of $8.7 million from this distribution. Equity-Based Incentive Compensation Our general partner has adopted a long-term incentive plant (“LTIP”), which allows for the issuance of equity-based incentive compensation. Awards granted under the LTIP include restricted units that vest contingent on the continued service of the recipients through the vesting date (the “Service Awards”). Awards also include restricted units that are contingent upon both the continued service of the recipients through the vesting date and also on the performance of our common units relative to other entities in the Alerian MLP Index (the “Index”) over specified periods of time (the “Performance Awards”). The awards may also vest in the event of a change of control, at the discretion of the board of directors. No distributions accrue to or are paid on the restricted units during the vesting period. The following table summarizes the Service Award activity during the nine months ended December 31, 2015: Unvested Service Award units at March 31, 2015 Units granted Units vested and issued ) Units withheld for employee taxes ) Units forfeited ) Unvested Service Award units at December 31, 2015 The following table summarizes the scheduled vesting of our unvested Service Award units: Year Ending March 31, Number of Units 2016 (three months) 2017 2018 Thereafter Unvested Service Award units at December 31, 2015 We record the expense for the first tranche of each Service Award on a straight-line basis over the period beginning with the grant date of the awards and ending with the vesting date of the tranche. We record the expense for succeeding tranches over the period beginning with the vesting date of the previous tranche and ending with the vesting date of the tranche. At each balance sheet date, we adjust the cumulative expense recorded using the estimated fair value of the awards at the balance sheet date. We calculate the fair value of the awards using the closing price of our common units on the New York Stock Exchange on the balance sheet date, adjusted to reflect the fact that the holders of the unvested units are not entitled to distributions during the vesting period. We estimate the impact of the lack of distribution rights during the vesting period using the value of the most recent distribution and assumptions that a market participant might make about future distribution growth. The following table summarizes expense related to Service Award units for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) $ $ $ $ Of the restricted units granted and vested during the nine months ended December 31, 2015, 465,239 units were granted as a bonus for performance during the fiscal year ended March 31, 2015. We accrued expense of $10.0 million during the fiscal year ended March 31, 2015 as an estimate of the value of such bonus units that would be granted. During the nine months ended December 31, 2015, we recorded an additional $1.8 million of expense to true-up the estimate to the $11.8 million of actual expense associated with these bonuses. Since the units were not formally granted until July 2015, the full $11.8 million value is reflected in the expense during the nine months ended December 31, 2015 in the table above. The following table summarizes the estimated future expense we expect to record on the unvested Service Award units at December 31, 2015 (in thousands), after taking into consideration estimated forfeitures of approximately 164,000 units. For purposes of this calculation, we used the closing price of our common units on December 31, 2015, which was $11.04. Year Ending March 31, 2016 (three months) $ 2017 2018 Thereafter Total $ The following table is a rollforward of the liability related to the Service Award units, which is reported within accrued expenses and other payables in our condensed consolidated balance sheets (in thousands): Balance at March 31, 2015 $ Expense recorded Value of units vested and issued ) Taxes paid on behalf of participants ) Balance at December 31, 2015 $ The weighted-average fair value of the Service Award units at December 31, 2015 was $8.24 per common unit, which was calculated as the closing price of our common units on December 31, 2015, adjusted to reflect the fact that the restricted units are not entitled to distributions during the vesting period. The impact of the lack of distribution rights during the vesting period was estimated using the value of the most recent distribution. During April 2015, our general partner granted Performance Award units to certain employees. The following table summarizes the maximum number of units that could vest on these Performance Awards for each vesting tranche, taking into consideration any Performance Awards that have been forfeited since the grant date: Maximum Performance Vesting Date of Tranche Award Units July 1, 2016 July 1, 2017 Total The number of Performance Award units that will vest is contingent on the performance of our common units relative to the performance of the other entities in the Index. Performance will be calculated based on the return on our common units (including changes in the market price of the common units and distributions paid during the performance period) relative to the returns on the common units of the other entities in the Index. Performance will be measured over the following periods: Vesting Date of Tranche Performance Period for Tranche July 1, 2016 July 1, 2013 through June 30, 2016 July 1, 2017 July 1, 2014 through June 30, 2017 The following table summarizes the percentage of the maximum Performance Award units that will vest depending on the percentage of entities in the Index that NGL outperforms: Percentage of Entities in the Percentage of Maximum Index that NGL Outperforms Performance Award Units to Vest Less than 50% % 50%–75% 25%–50 % 75%–90% 50%–100 % Greater than 90% % The April 2015 Performance Award grants included a tranche that vested on July 1, 2015. During the July 1, 2012 through June 30, 2015 performance period, the return on our common units exceeded the return on 83% of our peer companies in the Index. As a result, the July 1, 2015 tranche of the Performance Awards vested at 76% of the maximum number of awards, and 530,564 common units vested on July 1, 2015. Of these units, recipients elected for us to withhold 210,137 common units for employee taxes, valued at $6.4 million. We issued the remaining 320,427 common units, valued at $9.7 million, on July 1, 2015. The following table summarizes the estimated fair value for each unvested tranche at December 31, 2015 (without consideration of estimated forfeitures): Fair Value of Vesting Date of Tranche Unvested Awards (in thousands) July 1, 2016 $ July 1, 2017 Total $ We record the expense for each of the tranches of the Performance Awards on a straight-line basis over the period beginning with the grant date and ending with the vesting date of the tranche. At each balance sheet date, we adjust the cumulative expense recorded using the estimated fair value of the awards at the balance sheet date. We calculate the fair value of the awards using a Monte Carlo simulation. The following table summarizes the expense (benefit) recorded for each vesting tranche during the periods indicated: Three Months Ended Vesting Date of Tranche June 30, 2015 September 30, 2015 December 31, 2015 Total (in thousands) July 1, 2015 $ $ $ — $ July 1, 2016 ) ) July 1, 2017 ) ) Total $ $ $ ) $ The following table summarizes the estimated future expense we expect to record on the unvested Performance Award units at December 31, 2015 (in thousands), after taking into consideration estimated forfeitures. For purposes of this calculation, we used the December 31, 2015 fair value of the Performance Awards. Year Ending March 31, 2016 (three months) $ 2017 2018 Total $ The following table is a rollforward of the liability related to the Performance Award units, which is reported within accrued expenses and other payables in our condensed consolidated balance sheets (in thousands): Balance at March 31, 2015 $ — Expense recorded Value of units vested and issued ) Taxes paid on behalf of participants ) Balance at December 31, 2015 $ The number of common units that may be delivered pursuant to awards under the LTIP is limited to 10% of the issued and outstanding common units. The maximum number of units deliverable under the LTIP plan automatically increases to 10% of the issued and outstanding common units immediately after each issuance of common units, unless the plan administrator determines to increase the maximum number of units deliverable by a lesser amount. Units withheld to satisfy tax withholding obligations are not considered to be delivered under the LTIP. In addition, when an award is forfeited, canceled, exercised, paid or otherwise terminates or expires without the delivery of units, the units subject to such award are again available for new awards under the LTIP. At December 31, 2015, approximately 5.3 million common units remain available for issuance under the LTIP.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Dec. 31, 2015
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note 13—Fair Value of Financial Instruments Our cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and other current assets and liabilities (excluding derivative instruments) are carried at amounts which reasonably approximate their fair values due to their short-term nature. Commodity Derivatives The following table summarizes the estimated fair values of our commodity derivative assets and liabilities reported in our condensed consolidated balance sheet at the dates indicated: December 31, 2015 March 31, 2015 Derivative Derivative Derivative Derivative Assets Liabilities Assets Liabilities (in thousands) Level 1 measurements $ $ ) $ $ ) Level 2 measurements ) ) ) ) Netting of counterparty contracts (1) ) ) Net cash collateral provided (held) ) ) Commodity derivatives in condensed consolidated balance sheet $ $ ) $ $ ) (1) Relates to commodity derivative assets and liabilities that are expected to be net settled on an exchange or through a netting arrangement with the counterparty. The following table summarizes the accounts that include our commodity derivative assets and liabilities in our condensed consolidated balance sheets: December 31, March 31, 2015 2015 (in thousands) Prepaid expenses and other current assets $ $ Accrued expenses and other payables ) ) Net commodity derivative asset $ $ The following table summarizes our open commodity derivative contract positions at the dates indicated. We do not account for these derivatives as hedges. Net Long (Short) Fair Value Notional of Units Net Assets Contracts Settlement Period (Barrels) (Liabilities) (in thousands) At December 31, 2015— Cross-commodity (1) January 2016–March 2017 $ Crude oil fixed-price (2) January 2016–March 2016 ) Propane fixed-price (2) January 2016–December 2017 ) Refined products fixed-price (2) January 2016–February 2017 ) Other January 2016–December 2016 ) Net cash collateral held ) Net commodity derivatives in condensed consolidated balance sheet $ At March 31, 2015— Cross-commodity (1) April 2015–March 2016 $ ) Crude oil fixed-price (2) April 2015–June 2015 ) ) Crude oil index-price (3) April 2015–July 2015 Propane fixed-price (2) April 2015–December 2016 ) Refined products fixed-price (2) April 2015–December 2015 ) Other April 2015–December 2015 Net cash collateral held ) Net commodity derivatives in condensed consolidated balance sheet $ (1) Cross-commodity—We may purchase or sell a physical commodity where the underlying contract pricing mechanisms are tied to different commodity price indices. These contracts are derivatives we have entered into as an economic hedge against the risk of one commodity price moving relative to another commodity price. (2) Commodity fixed-price—We may have fixed price physical purchases, including inventory , offset by floating price physical sales or floating price physical purchases offset by fixed price physical sales. These contracts are derivatives we have entered into as an economic hedge against the risk of mismatches between fixed and floating price physical obligations. (3) Commodity index-price—We may purchase or sell a physical commodity where the underlying contract pricing mechanisms are tied to different indices. These indices may vary in the commodity grade or location, or in the timing of delivery within a given month. These contracts are derivatives we have entered into as an economic hedge against the risk of one index moving relative to another index. The following table summarizes the net gains recorded from our commodity derivatives to cost of sales for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) $ $ $ $ Credit Risk We have credit policies that we believe minimize our overall credit risk, including an evaluation of potential counterparties’ financial condition (including credit ratings), collateral requirements under certain circumstances, and the use of industry standard master netting agreements, which allow for offsetting counterparty receivable and payable balances for certain transactions. At December 31, 2015, our primary counterparties were retailers, resellers, energy marketers, producers, refiners, and dealers. This concentration of counterparties may impact our overall exposure to credit risk, either positively or negatively, as the counterparties may be similarly affected by changes in economic, regulatory or other conditions. If a counterparty does not perform on a contract, we may not realize amounts that have been recorded in our condensed consolidated balance sheets and recognized in our net income. Interest Rate Risk Our Revolving Credit Facility is variable-rate debt with interest rates that are generally indexed to bank prime or LIBOR interest rates. At December 31, 2015, we had $1.92 billion of outstanding borrowings under our Revolving Credit Facility at a rate of 2.68%. The TLP Credit Facility is variable-rate debt with interest rates that are generally indexed to bank prime or LIBOR interest rates. At December 31, 2015, TLP had $248.0 million of outstanding borrowings under the TLP Credit Facility at a rate of 2.72%. Fair Value of Fixed-Rate Notes The following table provides fair value estimates of our fixed-rate notes at December 31, 2015 (in thousands): 5.125% Notes due 2019 $ 6.875% Notes due 2021 6.650% Notes due 2022 For the 2019 Notes and the 2021 Notes, the fair value estimates were developed based on publicly traded quotes and would be classified as Level 1 in the fair value hierarchy. For the 2022 Notes, the fair value estimate was developed using observed yields on publicly traded notes issued by us, adjusted for differences in the key terms of those notes and the key terms of our notes (examples include differences in the tenor of the debt, credit standing of the issuer, whether the notes are publicly traded, and whether the notes are secured or unsecured). This fair value estimate would be classified as Level 3 in the fair value hierarchy.

Segments

Segments	9 Months Ended
	Dec. 31, 2015
Segments
Segments	Note 14—Segments The following table summarizes certain financial data related to our segments. Transactions between segments are recorded based on prices negotiated between the segments. Our liquids and retail propane segments each consist of two divisions, which are organized based on the location of the operations. The “corporate and other” category consists primarily of certain corporate expenses that are not allocated to the reportable segments. Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) Revenues: Crude oil logistics— Crude oil sales $ $ $ $ Crude oil transportation and other Water solutions— Service fees Recovered hydrocarbons Water transportation — — Other revenues — — Liquids— Propane sales Other product sales Other revenues Retail propane— Propane sales Distillate sales Other revenues Refined products and renewables— Refined products sales Renewables sales Service fees Corporate and other — ) — Elimination of intersegment sales ) ) ) ) Total revenues $ $ $ $ Depreciation and Amortization: Crude oil logistics $ $ $ $ Water solutions Liquids Retail propane Refined products and renewables Corporate and other Total depreciation and amortization $ $ $ $ Operating Income (Loss): Crude oil logistics $ $ ) $ $ ) Water solutions ) ) Liquids ) ) Retail propane Refined products and renewables Corporate and other ) ) ) ) Total operating income $ $ $ $ (1) During the six months ended September 30, 2015, we made certain changes in the way we attribute revenues to the categories shown in the table above. These changes did not impact total revenues. We have retrospectively adjusted previously reported amounts to conform to the current presentation. The following table summarizes additions to property, plant and equipment by segment. This information has been prepared on the accrual basis, and includes property, plant and equipment acquired in acquisitions. Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) Additions to property, plant and equipment: Crude oil logistics $ $ $ $ Water solutions Liquids Retail propane Refined products and renewables Corporate and other Total $ $ $ $ The following tables summarize long-lived assets (consisting of property, plant and equipment, intangible assets, and goodwill) and total assets by segment: December 31, March 31, 2015 2015 (in thousands) Long-lived assets, net: Crude oil logistics $ $ Water solutions Liquids Retail propane Refined products and renewables Corporate and other Total $ $ Total assets: Crude oil logistics $ $ Water solutions Liquids Retail propane Refined products and renewables Corporate and other Total $ $

Goodwill Impairment

Goodwill Impairment	9 Months Ended
	Dec. 31, 2015
Goodwill Impairment
Goodwill Impairment	Note 15 —Goodwill Impairment We test goodwill for impairment on January 1 of each year, or more often if circumstances warrant. Crude oil prices began declining in July 2014 and continued to decline during calendar year 2015. Low crude oil prices have had an unfavorable impact on our water solutions business, as the volume of water we process is driven in part by the level of crude oil production, and the lower crude oil prices have given producers less incentive to expand production. In addition, a portion of the revenues of our water solutions business are generated from the sale of crude oil that we recover in the process of treating the wastewater, and low crude oil prices have had an adverse impact on these revenues. Due to the decline in crude oil prices and the crude oil production, we tested the goodwill within our water solutions business for impairment as of December 31, 2015. We calculated fair value for our water solutions business by discounting the forecasted cash flows. Significant inputs to the valuation of the water solutions business includes estimates of (i) future cash flows, including revenues, expenses and capital expenditures, (ii) timing of cash flow, (iii) useful lives of the assets, (iv) forward crude oil prices, adjusted for estimated location differential and (v) a discount rate. Our calculation of estimated fair value exceeded the carrying value of our water solutions business. Due to the continuing volatility within the crude oil market we believe that it is reasonably possible that our estimate of fair value could change and result in us impairing a portion of the goodwill for our water solutions business. We plan to review our assumptions and inputs used in our calculation during the fourth quarter of fiscal year 2016.

Transactions with Affiliates

Transactions with Affiliates	9 Months Ended
	Dec. 31, 2015
Transactions with Affiliates
Transactions with Affiliates	Note 16—Transactions with Affiliates SemGroup Corporation (“SemGroup”) holds ownership interests in our general partner. We sell product to and purchase product from SemGroup, and these transactions are included within revenues and cost of sales, respectively, in our condensed consolidated statements of operations. We also lease crude oil storage from SemGroup. We purchase ethanol from one of our equity method investees. These transactions are reported within cost of sales in our condensed consolidated statements of operations. Certain members of our management and members of their families own interests in entities from which we have purchased products and services and to which we have sold products and services. During the nine months ended December 31, 2015, $29.5 million of these transactions were capital expenditures and were recorded as increases to property, plant and equipment. The following table summarizes these related party transactions: Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) Sales to SemGroup $ $ $ $ Purchases from SemGroup Sales to equity method investees Purchases from equity method investees Sales to entities affiliated with management Purchases from entities affiliated with management Accounts receivable from affiliates consist of the following at the dates indicated: December 31, March 31, 2015 2015 (in thousands) Receivables from SemGroup $ $ Receivables from equity method investees Receivables from entities affiliated with management Total $ $ Accounts payable to affiliates consist of the following at the dates indicated: December 31, March 31, 2015 2015 (in thousands) Payables to SemGroup $ $ Payables to equity method investees Payables to entities affiliated with management Total $ $ We also have a loan receivable of $23.3 million at December 31, 2015 from one of our equity method investees. During the three months ended December 31, 2015, we received a loan payment of $0.5 million from our investee in accordance with the loan agreement. The investee makes loan payments from time to time in accordance with the loan agreement and is required to make monthly principal payments beginning on June 1, 2018 with the remaining principal balance due on May 31, 2020.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2015
Subsequent Events
Subsequent Events	Note 17 —Subsequent Events Water Pipeline Company On January 7, 2016, we paid cash of $12.3 million in exchange for a 57.125% interest in an existing produced water pipeline company operating in the Delaware Basin portion of West Texas. Sale of General Partner Interest in TLP On February 1, 2016, we completed the sale of our general partner interest in TLP to an affiliate of ArcLight Capital Partners (“AcrLight”) for $350 million in cash. We also granted to ArcLight an option to purchase up to 800,000 of the approximately 3.2 million TLP common units we own. We will remain the long-term exclusive tenant in the TLP Southeast terminal system. We will retain TransMontaigne’s marketing business, which is a significant part of our refined products and renewables business, and TransMontaigne Products Services, LLC, its customer contracts and its line space on the Colonial and Plantation pipelines.

Condensed Consolidating Guarant

Condensed Consolidating Guarantor and Non-Guarantor Financial Information	9 Months Ended
	Dec. 31, 2015
Condensed Consolidating Guarantor and Non-Guarantor Financial Information
Condensed Consolidating Guarantor and Non-Guarantor Financial Information	Note 18 —Condensed Consolidating Guarantor and Non-Guarantor Financial Information Certain of our wholly owned subsidiaries have, jointly and severally, fully and unconditionally guaranteed the 2019 Notes and 2021 Notes (see Note 9). Pursuant to Rule 3-10 of Regulation S-X, we have presented in columnar format the condensed consolidating financial information for NGL Energy Partners LP, NGL Energy Finance Corp. (which, along with NGL Energy Partners LP, is a co-issuer of the 2019 Notes and 2021 Notes), the guarantor subsidiaries on a combined basis, and the non-guarantor subsidiaries on a combined basis in the tables below. There are no significant restrictions that prevent the parent or any of the guarantor subsidiaries from obtaining funds from their respective subsidiaries by dividend or loan, other than restrictions contained in TLP’s Credit Facility. None of the assets of the guarantor subsidiaries (other than the investments in non-guarantor subsidiaries) are restricted net assets pursuant to Rule 4-08(e)(3) of Regulation S-X under the Securities Act of 1933, as amended. For purposes of the tables below, (i) the condensed consolidating financial information is presented on a legal entity basis, (ii) investments in consolidated subsidiaries are accounted for as equity method investments, and (iii) contributions, distributions, and advances to (from) consolidated entities are reported on a net basis within net changes in advances with consolidated entities in the condensed consolidating statement of cash flow tables below. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Balance Sheet (U.S. Dollars in Thousands) December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated ASSETS CURRENT ASSETS: Cash and cash equivalents $ $ — $ $ $ — $ Accounts receivable—trade, net of allowance for doubtful accounts — — — Accounts receivable—affiliates — — — Inventories — — — Prepaid expenses and other current assets — — — Assets held for sale — — — — Total current assets — — PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation — — — GOODWILL — — — INTANGIBLE ASSETS, net of accumulated amortization — — INVESTMENTS IN UNCONSOLIDATED ENTITIES — — — NET INTERCOMPANY RECEIVABLES (PAYABLES) — ) ) — — INVESTMENTS IN CONSOLIDATED SUBSIDIARIES — — ) — LOAN RECEIVABLE—AFFILIATE — — — — OTHER NONCURRENT ASSETS — — — Total assets $ $ — $ $ $ ) $ LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable—trade $ — $ — $ $ $ — $ Accounts payable—affiliates — — Accrued expenses and other payables — — Advance payments received from customers — — — Current maturities of long-term debt — — — Total current liabilities — — LONG-TERM DEBT, net of current maturities — — OTHER NONCURRENT LIABILITIES — — — EQUITY: Partners’ equity — ) Accumulated other comprehensive loss — — — ) — ) Noncontrolling interests — — — — Total equity — ) Total liabilities and equity $ $ — $ $ $ ) $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. Since the parent received the proceeds from the issuance of the 2019 Notes and 2021 Notes, all activity has been reflected in the parent column. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Balance Sheet (U.S. Dollars in Thousands) March 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated ASSETS CURRENT ASSETS: Cash and cash equivalents $ $ — $ $ $ — $ Accounts receivable—trade, net of allowance for doubtful accounts — — — Accounts receivable—affiliates — — Inventories — — — Prepaid expenses and other current assets — — — Total current assets — — PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation — — — GOODWILL — — — INTANGIBLE ASSETS, net of accumulated amortization — — INVESTMENTS IN UNCONSOLIDATED ENTITIES — — — NET INTERCOMPANY RECEIVABLES (PAYABLES) — ) ) — — INVESTMENTS IN CONSOLIDATED SUBSIDIARIES — — ) — LOAN RECEIVABLE—AFFILIATE — — — — OTHER NONCURRENT ASSETS — — — Total assets $ $ — $ $ $ ) $ LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable—trade $ — $ — $ $ $ — $ Accounts payable—affiliates — — — Accrued expenses and other payables — — Advance payments received from customers — — — Current maturities of long-term debt — — — Total current liabilities — — LONG-TERM DEBT, net of current maturities — — OTHER NONCURRENT LIABILITIES — — — EQUITY: Partners’ equity — ) Accumulated other comprehensive loss — — — ) — ) Noncontrolling interests — — — — Total equity — ) Total liabilities and equity $ $ — $ $ $ ) $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. Since the parent received the proceeds from the issuance of the 2019 Notes and 2021 Notes, all activity has been reflected in the parent column. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Operations (U.S. Dollars in Thousands) Three Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated REVENUES $ — $ — $ $ $ ) $ COST OF SALES — — ) OPERATING COSTS AND EXPENSES: Operating — — ) General and administrative — — — Depreciation and amortization — — — Loss (gain) on disposal or impairment of assets, net — — ) — Operating Income — — — OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — — Interest expense ) — ) ) ) Other income, net — — ) Income (Loss) Before Income Taxes ) — — INCOME TAX EXPENSE — — ) ) — ) EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES — — ) — Net Income — ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER ) ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS ) ) NET INCOME ALLOCATED TO LIMITED PARTNERS $ $ — $ $ $ ) $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Operations (U.S. Dollars in Thousands) Three Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated REVENUES $ — $ — $ $ $ ) $ COST OF SALES — — ) OPERATING COSTS AND EXPENSES: Operating — — — General and administrative — — — Depreciation and amortization — — — Loss on disposal or impairment of assets, net — — — Operating Income (Loss) — — ) — OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — — Interest expense ) — ) ) ) Other income, net — — ) Income (Loss) Before Income Taxes ) — ) — ) INCOME TAX (EXPENSE) BENEFIT — — ) — EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES — ) — — Net Income (Loss) ) — ) ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER ) ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS ) ) NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS $ ) $ — $ $ ) $ $ ) (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Operations (U.S. Dollars in Thousands) Nine Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated REVENUES $ — $ — $ $ $ ) $ COST OF SALES — — ) OPERATING COSTS AND EXPENSES: Operating — — ) General and administrative — — — Depreciation and amortization — — — Loss (gain) on disposal or impairment of assets, net — — ) — Operating Income — — — OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — — Interest expense ) — ) ) ) Other income, net — — ) Income (Loss) Before Income Taxes ) — ) — ) INCOME TAX (EXPENSE) BENEFIT — — ) — EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES — — ) — Net Income (Loss) ) — ) ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER ) ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS ) ) NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS $ ) $ — $ $ $ ) $ ) (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Operations (U.S. Dollars in Thousands) Nine Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated REVENUES $ — $ — $ $ $ ) $ COST OF SALES — — ) OPERATING COSTS AND EXPENSES: Operating — — — General and administrative — — — Depreciation and amortization — — — Loss on disposal or impairment of assets, net — — — Operating Income (Loss) — — ) — OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — — Interest expense ) — ) ) ) Other income, net — — ) Income (Loss) Before Income Taxes ) — ) — ) INCOME TAX (EXPENSE) BENEFIT — — ) — EQUITY IN NET LOSS OF CONSOLIDATED SUBSIDIARIES ) — ) — — Net Loss ) — ) ) ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER ) ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS ) ) NET LOSS ALLOCATED TO LIMITED PARTNERS $ ) $ — $ ) $ ) $ $ ) (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (Loss) (U.S. Dollars in Thousands) Three Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated Net income $ $ — $ $ $ ) $ Other comprehensive loss — — — ) — ) Comprehensive income $ $ — $ $ $ ) $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. Three Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (2) Finance Corp. (2) Subsidiaries Subsidiaries Adjustments Consolidated Net income (loss) $ ) $ — $ $ ) $ $ ) Other comprehensive loss — — — ) — ) Comprehensive income (loss) $ ) $ — $ $ ) $ $ ) (2) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (Loss) (U.S. Dollars in Thousands) Nine Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated Net income (loss) $ ) $ — $ $ $ ) $ ) Other comprehensive loss — — — ) — ) Comprehensive income (loss) $ ) $ — $ $ $ ) $ ) (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. Nine Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (2) Finance Corp. (2) Subsidiaries Subsidiaries Adjustments Consolidated Net loss $ ) $ — $ ) $ ) $ $ ) Other comprehensive income (loss) — — ) — Comprehensive loss $ ) $ — $ ) $ ) $ $ ) (2) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Cash Flows (U.S. Dollars in Thousands) Nine Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ ) $ — $ $ $ INVESTING ACTIVITIES: Purchases of long-lived assets — — ) ) ) Acquisitions of businesses, including acquired working capital, net of cash acquired ) — ) ) ) Cash flows from commodity derivatives — — — Proceeds from sales of assets — — Investments in unconsolidated entities — — ) ) ) Distributions of capital from unconsolidated entities — — Loan for natural gas liquids facility — — ) — ) Payments on loan for natural gas liquids facility — — — Loan to affiliate — — ) — ) Payments on loan to affiliate — — — Net cash used in investing activities ) — ) ) ) FINANCING ACTIVITIES: Proceeds from borrowings under revolving credit facilities — — Payments on revolving credit facilities — — ) ) ) Proceedings from borrowings under other long-term debt — — Payments on other long-term debt — — ) ) ) Debt issuance costs ) — ) ) ) Contributions from general partner — — — Contributions from noncontrolling interest owners — — — Distributions to partners ) — — — ) Distributions to noncontrolling interest owners — — — ) ) Taxes paid on behalf of equity incentive plan participants — — ) — ) Common unit repurchases ) — — — ) Net changes in advances with consolidated entities — ) — Other — — ) ) ) Net cash provided by (used in) financing activities — ) Net decrease in cash and cash equivalents ) — ) ) ) Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ — $ $ $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Cash Flows (U.S. Dollars in Thousands) Nine Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ ) $ — $ $ $ INVESTING ACTIVITIES: Purchases of long-lived assets — — ) ) ) Acquisitions of businesses, including acquired working capital, net of cash acquired — — ) ) ) Cash flows from commodity derivatives — — — Proceeds from sales of assets — — Investments in unconsolidated entities — — ) ) ) Distributions of capital from unconsolidated entities — — Loan for natural gas liquids facility — — ) — ) Other — — — ) ) Net cash used in investing activities — — ) ) ) FINANCING ACTIVITIES: Proceeds from borrowings under revolving credit facilities — — Payments on revolving credit facilities — — ) ) ) Issuance of notes — — — Payments on other long-term debt — — ) ) ) Debt issuance costs ) — ) — ) Contributions from general partner — — — Distributions to partners ) — — — ) Distributions to noncontrolling interest owners — — — ) ) Proceeds from sale of common units, net of offering costs — — — Net changes in advances with consolidated entities ) — ) — Other — — ) — ) Net cash provided by (used in) financing activities — ) Net increase in cash and cash equivalents — Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ — $ $ $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes.

Significant Accounting Polici26

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2015
Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include our accounts and those of our controlled subsidiaries. All significant intercompany transactions and account balances have been eliminated in consolidation. Investments we cannot control, but can exercise significant influence over, are accounted for using the equity method of accounting. We also own an undivided interest in a crude oil pipeline (see Note 4). We will include our proportionate share of assets, liabilities, and expenses related to this pipeline in our consolidated financial statements. Our unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim consolidated financial information in accordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, the unaudited condensed consolidated financial statements exclude certain information and notes required by GAAP for complete annual consolidated financial statements. However, we believe that the disclosures made are adequate to make the information presented not misleading. The unaudited condensed consolidated financial statements include all adjustments that we consider necessary for a fair presentation of our consolidated financial position and results of operations for the interim periods presented. Such adjustments consist only of normal recurring items, unless otherwise disclosed in this Quarterly Report. The unaudited condensed consolidated balance sheet at March 31, 2015 is derived from our audited consolidated financial statements for the fiscal year ended March 31, 2015 included in our Annual Report on Form 10-K (“Annual Report”). We have reclassified certain prior period financial statement information to be consistent with the classification methods used in the current fiscal year. These reclassifications did not impact previously reported amounts of equity, net income, or cash flows. These interim unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto included in our Annual Report. Due to the seasonal nature of certain of our operations and other factors, the results of operations for interim periods are not necessarily indicative of the results of operations to be expected for future periods or for the full fiscal year ending March 31, 2016.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amount of assets and liabilities reported at the date of the consolidated financial statements and the amount of revenues and expenses reported during the periods presented. Critical estimates we make in the preparation of our condensed consolidated financial statements include determining the fair value of assets and liabilities acquired in business combinations, the collectability of accounts receivable, the recoverability of inventories, useful lives and recoverability of property, plant and equipment and amortizable intangible assets, the impairment of assets, the fair value of asset retirement obligations, the value of equity-based compensation, and accruals for various commitments and contingencies, among others. Although we believe these estimates are reasonable, actual results could differ from those estimates.
Fair Value Measurements	Fair Value Measurements We record our commodity derivative instruments and assets and liabilities acquired in business combinations at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability. We use the following fair value hierarchy, which prioritizes valuation technique inputs used to measure fair value into three broad levels: · Level 1—Quoted prices in active markets for identical assets and liabilities that we have the ability to access at the measurement date. · Level 2—Inputs (other than quoted prices included within Level 1) that are either directly or indirectly observable for the asset or liability, including (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in inactive markets, (iii) inputs other than quoted prices that are observable for the asset or liability, and (iv) inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include non-exchange traded derivatives such as over-the-counter commodity price swap and option contracts. We determine the fair value of all of our derivative financial instruments utilizing pricing models for similar instruments. Inputs to the pricing models include publicly available prices and forward curves generated from a compilation of data gathered from third parties. · Level 3—Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to a fair value measurement requires judgment, considering factors specific to the asset or liability.
Revenue Recognition	Revenue Recognition We record product sales revenues when title to the product transfers to the purchaser, which typically occurs when the purchaser receives the product. We record terminaling, transportation, storage, and service revenues when the service is performed, and we record tank and other rental revenues over the lease term. Several of our terminaling service agreements with throughput customers allow us to receive the product volume gained resulting from differences between the measurement of product volumes received and distributed at our terminaling facilities. Such differences are due to the inherent variances in measurement devices and methodology. We record revenues for the net proceeds from the sale of the product gained. Revenues for our water solutions segment are recognized when we obtain the wastewater at our treatment and disposal facilities. We report taxes collected from customers and remitted to taxing authorities, such as sales and use taxes, on a net basis. We include amounts billed to customers for shipping and handling costs in revenues in our condensed consolidated statements of operations. We enter into certain contracts whereby we agree to purchase product from a counterparty and sell the same volume of product to the same counterparty at a different location or time. When such agreements are entered into at the same time and in contemplation of each other, we record the revenues for these transactions net of cost of sales. Revenues during the three months and nine months ended December 31, 2015 include $1.5 million and $4.4 million, respectively, associated with the amortization of a liability recorded in the acquisition accounting for an acquired business related to certain out-of-market revenue contracts.
Inventories	Inventories We value our inventories at the lower of cost or market, with cost determined using either the weighted-average cost or the first in, first out (FIFO) methods, including the cost of transportation and storage. Market is determined based on estimated replacement cost using prices at the end of the reporting period. In performing this analysis, we consider fixed-price forward commitments and the opportunity to transfer propane inventory from our wholesale liquids business to our retail propane business to sell the inventory in retail markets. Inventories consist of the following at the dates indicated: December 31, March 31, 2015 2015 (in thousands) Crude oil $ $ Natural gas liquids— Propane Butane Other Refined products— Gasoline Diesel Renewables Other Total $ $
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities We own noncontrolling interests in certain entities. We account for these investments using the equity method of accounting. Under the equity method, we do not report the individual assets and liabilities of these entities on our condensed consolidated balance sheets; instead, our ownership interests are reported within investments in unconsolidated entities on our condensed consolidated balance sheets. Under the equity method, the investment is recorded at acquisition cost, increased by our proportionate share of any earnings and additional capital contributions and decreased by our proportionate share of any losses, distributions paid, and amortization of any excess investment. Excess investment is the amount by which our total investment exceeds our proportionate share of the historical net book value of the net assets of the investee. Our investments in unconsolidated entities consist of the following at the dates indicated: Ownership Date Acquired December 31, March 31, Entity Segment Interest or Formed 2015 2015 (in thousands) Glass Mountain (1) Crude oil logistics 50.0% December 2013 $ $ BOSTCO (2) Refined products and renewables 42.5% July 2014 Frontera (2) Refined products and renewables 50.0% July 2014 Water supply company Water solutions 35.0% June 2014 Water treatment and disposal facility Water solutions 50.0% August 2015 — Ethanol production facility Refined products and renewables 19.0% December 2013 Retail propane company Retail propane 50.0% April 2015 — Total $ $ (1) When we acquired Gavilon, LLC, (“Gavilon Energy”), we recorded the investment in Glass Mountain Pipeline, LLC (“Glass Mountain”), which owns a crude oil pipeline in Oklahoma, at fair value. Our investment in Glass Mountain exceeds our proportionate share of the historical net book value of Glass Mountain’s net assets by $75.1 million at December 31, 2015. This difference relates primarily to goodwill and customer relationships. (2) When we acquired TransMontaigne Inc. (“TransMontaigne”), we recorded the investments in Battleground Oil Specialty Terminal Company LLC (“BOSTCO”), which owns a refined products storage facility, and Frontera Brownsville LLC (“Frontera”) at fair value. On a combined basis, our investments in BOSTCO and Frontera exceed our proportionate share of the historical net book value of BOSTCO’s and Frontera’s net assets by $15.6 million at December 31, 2015. This difference relates primarily to goodwill.
Noncontrolling Interests	Noncontrolling Interests We have certain consolidated subsidiaries in which outside parties own interests. The noncontrolling interest shown in our condensed consolidated financial statements reflects the other owners’ interests in these entities. As part of our acquisition of TransMontaigne on July 1, 2014, we acquired a 2% general partner interest and a 19.7% limited partner interest in TLP. We attribute net earnings allocable to TLP’s limited partners to the controlling and noncontrolling interests based on the relative ownership interests in TLP. Earnings allocable to TLP’s limited partners are net of the earnings allocable to TLP’s general partner interest. The earnings allocable to TLP’s general partner interest include the distributions of cash attributable to the period to TLP’s general partner interest and incentive distribution rights, net of adjustments for TLP’s general partner’s proportionate share of undistributed earnings. Undistributed earnings are allocated to TLP’s limited partners and TLP’s general partner interest based on their ownership percentages of 98% and 2%, respectively. See Note 17 for a discussion of the sale of the 2% general partner interest in TLP.
Business Combination Measurement Period	Business Combination Measurement Period We record the assets acquired and liabilities assumed in a business combination at their acquisition date fair values. Pursuant to GAAP, an entity is allowed no more than one year to obtain the information necessary to identify and measure the fair values of the assets acquired and liabilities assumed in a business combination. As described in Note 5, certain acquisitions are still within this measurement period, and as a result, the acquisition date fair values we have recorded for the assets acquired and liabilities assumed are subject to change.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015—11, “Simplifying the Measurement of Inventory.” The ASU requires that inventory within the scope of the guidance be measured at the lower of cost or net realizable value. The ASU is effective for the Partnership beginning April 1, 2017, although early adoption is permitted. We do not expect the adoption of this ASU to have a material impact on our consolidated financial position or results of operations. In April 2015, the FASB issued ASU No. 2015—03, “Simplifying the Presentation of Debt Issuance Costs.” The ASU requires that debt issuance costs (excluding costs associated with revolving debt arrangements) be presented in the balance sheet as a reduction to the carrying amount of the debt. We plan to adopt this ASU effective March 31, 2016, when we will begin presenting debt issuance costs as a reduction to long-term debt, rather than as an intangible asset. At December 31, 2015, intangible assets on our condensed consolidated balance sheet include $17.4 million of debt issuance costs associated with our senior notes that, upon adoption of this ASU, would be reclassified as a reduction to long-term debt. The ASU requires retrospective application for all prior periods presented. At March 31, 2015, intangible assets on our condensed consolidated balance sheet include $17.8 million of debt issuance costs associated with our senior notes that, upon adoption of this ASU, will be reclassified as a reduction to long-term debt. In May 2014, the FASB issued ASU No. 2014—09, “Revenue from Contracts with Customers.” The ASU will replace most existing revenue recognition guidance in GAAP. The core principle of this ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU is effective for the Partnership beginning April 1, 2018, and allows for both full retrospective and modified retrospective (with cumulative effect) methods of adoption. We are in the process of determining the method of adoption and assessing the impact of this ASU on our consolidated financial statements.

Significant Accounting Polici27

Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 2015
Significant Accounting Policies
Schedule of supplemental cash flow information	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) Interest paid, exclusive of debt issuance costs and letter of credit fees $ $ $ $ Income taxes paid (net of income tax refunds) $ ) $ $ $
Schedule of inventories	December 31, March 31, 2015 2015 (in thousands) Crude oil $ $ Natural gas liquids— Propane Butane Other Refined products— Gasoline Diesel Renewables Other Total $ $
Schedule of investments in unconsolidated entities	Ownership Date Acquired December 31, March 31, Entity Segment Interest or Formed 2015 2015 (in thousands) Glass Mountain (1) Crude oil logistics 50.0% December 2013 $ $ BOSTCO (2) Refined products and renewables 42.5% July 2014 Frontera (2) Refined products and renewables 50.0% July 2014 Water supply company Water solutions 35.0% June 2014 Water treatment and disposal facility Water solutions 50.0% August 2015 — Ethanol production facility Refined products and renewables 19.0% December 2013 Retail propane company Retail propane 50.0% April 2015 — Total $ $ (1) When we acquired Gavilon, LLC, (“Gavilon Energy”), we recorded the investment in Glass Mountain Pipeline, LLC (“Glass Mountain”), which owns a crude oil pipeline in Oklahoma, at fair value. Our investment in Glass Mountain exceeds our proportionate share of the historical net book value of Glass Mountain’s net assets by $75.1 million at December 31, 2015. This difference relates primarily to goodwill and customer relationships. (2) When we acquired TransMontaigne Inc. (“TransMontaigne”), we recorded the investments in Battleground Oil Specialty Terminal Company LLC (“BOSTCO”), which owns a refined products storage facility, and Frontera Brownsville LLC (“Frontera”) at fair value. On a combined basis, our investments in BOSTCO and Frontera exceed our proportionate share of the historical net book value of BOSTCO’s and Frontera’s net assets by $15.6 million at December 31, 2015. This difference relates primarily to goodwill.
Schedule of other noncurrent assets	December 31, March 31, 2015 2015 (in thousands) Loan receivable (1) $ $ Linefill (2) Other Total $ $ (1) Represents a loan receivable associated with our financing of the construction of a natural gas liquids facility being used by a third party. (2) Represents minimum volumes of crude oil we are required to leave on certain third-party owned pipelines under long-term shipment commitments. At December 31, 2015, linefill consisted of 487,104 barrels of crude oil.
Schedule of accrued expenses and other payables	December 31, March 31, 2015 2015 (in thousands) Accrued compensation and benefits $ $ Excise and other tax liabilities Derivative liabilities Accrued interest Product exchange liabilities Other Total $ $

Income (Loss) Per Common Unit (

Income (Loss) Per Common Unit (Tables)	9 Months Ended
	Dec. 31, 2015
Income (Loss) Per Common Unit
Schedule of income (loss) per common unit	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands, except unit and per unit amounts) Net income (loss) attributable to parent equity $ $ ) $ ) $ ) Less: Net income allocated to general partner (1) ) ) ) ) Less: Net loss allocated to subordinated unitholders (2) — — — Net income (loss) attributable to common unitholders (basic) ) ) ) Effect of dilutive securities (restricted units) ) — — — Net income (loss) attributable to common unitholders (diluted) $ $ ) $ ) $ ) Basic income (loss) per common unit $ $ ) $ ) $ ) Diluted income (loss) per common unit $ $ ) $ ) $ ) Basic weighted average common units ou t standing Diluted weighted average common units outstanding (1) Net income allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights, which are described in Note 12. (2) All outstanding subordinated units converted to common units in August 2014. Since the subordinated units did not share in the distribution of cash generated after June 30, 2014, we did not allocate any income or loss after that date to the subordinated unitholders. During the three months ended June 30, 2014, 5,919,346 subordinated units were outstanding and the loss per subordinated unit was $(0.68).

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Dec. 31, 2015
Delaware Basin Water Solutions Facilities
Acquisitions
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	The following table summarizes the preliminary estimates of the fair values of the assets acquired (and useful lives) and liabilities assumed (in thousands): Property, plant and equipment: Water treatment facilities and equipment (3—30 years) $ Land Goodwill Intangible asset: Customer relationships (6 years) Investments in unconsolidated entities Accrued expenses and other payables ) Fair value of net assets acquired $
Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting
Acquisitions
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	The following table summarizes the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for these water treatment and disposal facilities: Property, plant and equipment: Water treatment facilities and equipment (3—30 years) $ Buildings and leasehold improvements (7—30 years) Land Other (5 years) Goodwill Accrued expenses and other payables ) Other noncurrent liabilities ) Fair value of net assets acquired $
Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process
Acquisitions
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	The following table summarizes the preliminary estimates of the fair values of the assets acquired (and useful lives) and liabilities assumed (in thousands): Property, plant and equipment: Water treatment facilities and equipment (3—30 years) $ Buildings and leasehold improvements (7—30 years) Land Other (5 years) Goodwill Accrued expenses and other payables ) Other noncurrent liabilities ) Fair value of net assets acquired $
Natural Gas Liquids Storage
Acquisitions
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	Estimated At March 31, Final 2015 Change (in thousands) Accounts receivable—trade $ $ $ — Inventories — Prepaid expenses and other current assets Property, plant and equipment: Natural gas liquids terminal and storage assets (2—30 years) ) Vehicles and railcars (3—25 years) Land Other ) Construction in progress — Goodwill Intangible assets: Customer relationships (15 years) ) Non-compete agreements (10 years) ) Accounts payable—trade ) ) — Accrued expenses and other payables ) ) ) Advance payments received from customers ) ) — Other noncurrent liabilities ) ) — Fair value of net assets acquired $ $ $ —
Schedule of future amortization of liability	The following table summarizes the future amortization of this liability (in thousands): Year Ending March 31, 2016 (three months) $ 2017 2018 2019
Bakken Water Solutions Facilities
Acquisitions
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	Estimated At March 31, Final 2015 Change (in thousands) Property, plant and equipment: Vehicles (10 years) $ $ $ — Water treatment facilities and equipment (3—30 years) — Buildings and leasehold improvements (7—30 years) — Land — Goodwill ) Intangible asset: Customer relationships (7 years) Other noncurrent assets — Other noncurrent liabilities ) ) ) Fair value of net assets acquired $ $ $ —
TransMontaigne
Acquisitions
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	Estimated At March 31, Final 2015 Change (in thousands) Cash and cash equivalents $ $ $ — Accounts receivable—trade Accounts receivable—affiliates — Inventories — Prepaid expenses and other current assets Property, plant and equipment: Refined products terminal assets and equipment (20 years) Vehicles ) Crude oil tanks and related equipment (20 years) Information technology equipment — Buildings and leasehold improvements (20 years) Land ) Tank bottoms (indefinite life) — Other Construction in progress — Goodwill Intangible assets: Customer relationships (15 years) ) Pipeline capacity rights (30 years) — Investments in unconsolidated entities — Other noncurrent assets — Accounts payable—trade ) ) ) Accounts payable—affiliates ) ) — Accrued expenses and other payables ) ) ) Advance payments received from customers ) ) — Long-term debt ) ) — Other noncurrent liabilities ) ) — Noncontrolling interests ) ) — Fair value of net assets acquired $ $ $ —
Water Solutions Facilities - 2015 Acquisitions
Acquisitions
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	Estimated At March 31, Final 2015 Change (in thousands) Accounts receivable—trade $ $ $ — Inventories — Prepaid expenses and other current assets — Property, plant and equipment: Water treatment facilities and equipment (3–30 years) Buildings and leasehold improvements (7–30 years) Land Other (5 years) Goodwill ) Intangible asset: Customer relationships (4 years) — Other noncurrent assets — Accounts payable—trade ) ) — Accrued expenses and other payables ) ) — Other noncurrent liabilities ) ) — Noncontrolling interest ) ) — Fair value of net assets acquired $ $ $ —
Retail Propane - 2015 Acquisitions
Acquisitions
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	Estimated At March 31, Final 2015 Change (in thousands) Accounts receivable—trade $ $ $ — Inventories — Prepaid expenses and other current assets — Property, plant and equipment: Retail propane equipment (15–20 years) — Vehicles and railcars (5–7 years) — Buildings and leasehold improvements (30 years) ) Land ) Other (5–7 years) Goodwill — Intangible assets: Customer relationships (10–15 years) — Non-compete agreements (5–7 years) — Trade names (3–12 years) — Accounts payable—trade ) ) Advance payments received from customers ) ) — Current maturities of long-term debt ) ) — Long-term debt, net of current maturities ) ) — Fair value of net assets acquired $ $ $ —

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment
Schedule of property, plant and equipment	Estimated December 31, March 31, Description Useful Lives 2015 2015 (in thousands) Natural gas liquids terminal and storage assets 2–30 years $ $ Refined products terminal assets and equipment 20 years Retail propane equipment 2–30 years Vehicles and railcars 3–25 years Water treatment facilities and equipment 3–30 years Crude oil tanks and related equipment 2–40 years Barges and towboats 5–40 years Information technology equipment 3–7 years Buildings and leasehold improvements 3–40 years Land Tank bottoms Other 3–30 years Construction in progress Accumulated depreciation ) ) Net property, plant and equipment $ $
Schedule of depreciation expense	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) $ $ $ $
Summary of tank bottoms	December 31, 2015 March 31, 2015 Volume Volume Product (in barrels) Value (in barrels) Value (in thousands) Gasoline $ $ Crude oil Diesel Renewables Other Total $ $

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Dec. 31, 2015
Goodwill
Schedule of goodwill by segment, including changes to goodwill	Refined Crude Oil Water Retail Products and Logistics Solutions Liquids Propane Renewables Total (in thousands) Balances at March 31, 2015 $ $ $ $ $ $ Revisions to acquisition accounting (Note 5) — ) — Acquisitions (Note 5) — — — Balances at December 31, 2015 $ $ $ $ $ $

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2015
Intangible Assets
Schedule of intangible assets	December 31, 2015 March 31, 2015 Estimated Gross Carrying Accumulated Gross Carrying Accumulated Description Useful Lives Amount Amortization Amount Amortization (in thousands) Amortizable— Customer relationships 3–20 years $ $ $ $ Pipeline capacity rights 30 years Water facility development agreement 5 years Executory contracts and other agreements 2–10 years Non-compete agreements 2–10 years Trade names 2–12 years Debt issuance costs 1–10 years Total amortizable Non-amortizable— Customer commitments — — Rights-of-way and easements (1) — — — Trade names — — Total non-amortizable — — Total $ $ $ $ (1) As described in Note 4, we acquired land, rights-of-way, and easements along a planned pipeline route. We later acquired an undivided interest in a different crude oil pipeline with the same origin and destination points as those of our originally-planned route. We will retain the land, rights-of-way, and easements along the originally-planned route for potential future development.
Schedule of amortization expense	Three Months Ended December 31, Nine Months Ended December 31, Recorded In 2015 2014 2015 2014 (in thousands) Depreciation and amortization $ $ $ $ Cost of sales Interest expense Total $ $ $ $
Schedule of expected amortization of intangible assets	Expected amortization of our intangible assets, exclusive of assets that are not yet amortizable, is as follows (in thousands): Year Ending March 31, 2016 (three months) $ 2017 2018 2019 2020 Thereafter Total $

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Dec. 31, 2015
Long-Term Debt
Schedule of long-term debt	December 31, March 31, 2015 2015 (in thousands) Revolving credit facility— Expansion capital borrowings $ $ Working capital borrowings 5.125% Notes due 2019 6.875% Notes due 2021 6.650% Notes due 2022 TLP credit facility Other long-term debt Less: Current maturities Long-term debt $ $
Schedule of maturities of long-term debt	The scheduled maturities of our long-term debt are as follows at December 31, 2015: Revolving TLP Other Credit 2019 2021 2022 Credit Long-Term Year Ending March 31, Facility Notes Notes Notes Facility Debt Total (in thousands) 2016 (three months) $ — $ — $ — $ — $ — $ $ 2017 — — — — — 2018 — — — — 2019 — — 2020 — — — Thereafter — — — Total $ $ $ $ $ $ $
TLP
Long-Term Debt
Summary of assets and liabilities	The following table summarizes our basis in the assets and liabilities of TLP at December 31, 2015, inclusive of the impact of our acquisition accounting for the business combination with TransMontaigne (in thousands): Cash and cash equivalents $ Accounts receivable—trade Accounts receivable—affiliates Inventories Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets, net Investments in unconsolidated entities Other noncurrent assets Accounts payable—trade ) Accounts payable—affiliates ) Net intercompany payable ) Accrued expenses and other payables ) Advanced payments received from customers ) Long-term debt ) Other noncurrent liabilities ) Net assets $

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Schedule of future minimum lease payments under contractual commitments	The following table summarizes future minimum lease payments under these agreements at December 31, 2015 (in thousands): Year Ending March 31, 2016 (three months) $ 2017 2018 2019 2020 Thereafter Total $
Schedule of rental expense relating to operating leases	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) $ $ $ $
Schedule of future minimum throughput payments under agreements	The following table summarizes future minimum throughput payments under these agreements at December 31, 2015 (in thousands): Year Ending March 31, 2016 (three months) $ 2017 2018 2019 2020 Thereafter Total $
Schedule of outstanding sales and purchase contracts	The following table summarizes such commitments at December 31, 2015: Volume Value (in thousands) Purchase commitments: Natural gas liquids fixed-price (gallons) $ Natural gas liquids index-price (gallons) Crude oil fixed-price (barrels) Crude oil index-price (barrels) Sale commitments: Natural gas liquids fixed-price (gallons) Natural gas liquids index-price (gallons) Crude oil fixed-price (barrels) Crude oil index-price (barrels)

Equity (Tables)

Equity (Tables)	9 Months Ended
	Dec. 31, 2015
Future Distribution Payments
Equity
Schedule of percentage allocations of available cash from operating surplus between the unitholders and general partner	Marginal Percentage Interest In Distributions Total Quarterly Distribution Per Common Unit Limited Partners General Partner Minimum quarterly distribution $ % % First target distribution above $ up to $ % % Second target distribution above $ up to $ % % Third target distribution above $ up to $ % % Thereafter above $ % %
Future Distribution Payments | TLP
Equity
Schedule of percentage allocations of available cash from operating surplus between the unitholders and general partner	Marginal Percentage Interest In Distributions Total Quarterly Distribution Per Common Unit Limited Partners General Partner Minimum quarterly distribution $ % % First target distribution above $ up to $ % % Second target distribution above $ up to $ % % Third target distribution above $ up to $ % % Thereafter above $ % %
Service awards
Equity
Schedule of service awards activity	Unvested Service Award units at March 31, 2015 Units granted Units vested and issued ) Units withheld for employee taxes ) Units forfeited ) Unvested Service Award units at December 31, 2015
Summary of scheduled vesting of awards	Year Ending March 31, Number of Units 2016 (three months) 2017 2018 Thereafter Unvested Service Award units at December 31, 2015
Summary of expense	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) $ $ $ $
Schedule of estimated equity-based expense to be recorded on the awards granted	The following table summarizes the estimated future expense we expect to record on the unvested Service Award units at December 31, 2015 (in thousands), after taking into consideration estimated forfeitures of approximately 164,000 units. Year Ending March 31, 2016 (three months) $ 2017 2018 Thereafter Total $
Schedule of rollforward of the liability	The following table is a rollforward of the liability related to the Service Award units, which is reported within accrued expenses and other payables in our condensed consolidated balance sheets (in thousands): Balance at March 31, 2015 $ Expense recorded Value of units vested and issued ) Taxes paid on behalf of participants ) Balance at December 31, 2015 $
Performance awards
Equity
Schedule of performance measurement period for each tranche	Vesting Date of Tranche Performance Period for Tranche July 1, 2016 July 1, 2013 through June 30, 2016 July 1, 2017 July 1, 2014 through June 30, 2017
Summary of percentage of the maximum performance award units that will vest depending on the percentage of entities in the Index that NGL outperforms	Percentage of Entities in the Percentage of Maximum Index that NGL Outperforms Performance Award Units to Vest Less than 50% % 50%–75% 25%–50 % 75%–90% 50%–100 % Greater than 90% %
Summary of estimated fair value for each unvested tranche	Fair Value of Vesting Date of Tranche Unvested Awards (in thousands) July 1, 2016 $ July 1, 2017 Total $
Summary of expense recorded for each vesting tranche	Three Months Ended Vesting Date of Tranche June 30, 2015 September 30, 2015 December 31, 2015 Total (in thousands) July 1, 2015 $ $ $ — $ July 1, 2016 ) ) July 1, 2017 ) ) Total $ $ $ ) $
Schedule of estimated equity-based expense to be recorded on the awards granted	The following table summarizes the estimated future expense we expect to record on the unvested Performance Award units at December 31, 2015 (in thousands), after taking into consideration estimated forfeitures. Year Ending March 31, 2016 (three months) $ 2017 2018 Total $
Schedule of rollforward of the liability	The following table is a rollforward of the liability related to the Performance Award units, which is reported within accrued expenses and other payables in our condensed consolidated balance sheets (in thousands): Balance at March 31, 2015 $ — Expense recorded Value of units vested and issued ) Taxes paid on behalf of participants ) Balance at December 31, 2015 $
Performance awards | Maximum
Equity
Summary of scheduled vesting of awards	Maximum Performance Vesting Date of Tranche Award Units July 1, 2016 July 1, 2017 Total

Fair Value of Financial Instr36

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2015
Fair Value of Financial Instruments
Schedule of estimated fair value measurements of assets and liabilities	December 31, 2015 March 31, 2015 Derivative Derivative Derivative Derivative Assets Liabilities Assets Liabilities (in thousands) Level 1 measurements $ $ ) $ $ ) Level 2 measurements ) ) ) ) Netting of counterparty contracts (1) ) ) Net cash collateral provided (held) ) ) Commodity derivatives in condensed consolidated balance sheet $ $ ) $ $ ) (1) Relates to commodity derivative assets and liabilities that are expected to be net settled on an exchange or through a netting arrangement with the counterparty.
Schedule of location of commodity derivative assets and liabilities reported on the condensed consolidated balance sheets	December 31, March 31, 2015 2015 (in thousands) Prepaid expenses and other current assets $ $ Accrued expenses and other payables ) ) Net commodity derivative asset $ $
Summary of open commodity derivative contract positions	Net Long (Short) Fair Value Notional of Units Net Assets Contracts Settlement Period (Barrels) (Liabilities) (in thousands) At December 31, 2015— Cross-commodity (1) January 2016–March 2017 $ Crude oil fixed-price (2) January 2016–March 2016 ) Propane fixed-price (2) January 2016–December 2017 ) Refined products fixed-price (2) January 2016–February 2017 ) Other January 2016–December 2016 ) Net cash collateral held ) Net commodity derivatives in condensed consolidated balance sheet $ At March 31, 2015— Cross-commodity (1) April 2015–March 2016 $ ) Crude oil fixed-price (2) April 2015–June 2015 ) ) Crude oil index-price (3) April 2015–July 2015 Propane fixed-price (2) April 2015–December 2016 ) Refined products fixed-price (2) April 2015–December 2015 ) Other April 2015–December 2015 Net cash collateral held ) Net commodity derivatives in condensed consolidated balance sheet $ (1) Cross-commodity—We may purchase or sell a physical commodity where the underlying contract pricing mechanisms are tied to different commodity price indices. These contracts are derivatives we have entered into as an economic hedge against the risk of one commodity price moving relative to another commodity price. (2) Commodity fixed-price—We may have fixed price physical purchases, including inventory , offset by floating price physical sales or floating price physical purchases offset by fixed price physical sales. These contracts are derivatives we have entered into as an economic hedge against the risk of mismatches between fixed and floating price physical obligations. (3) Commodity index-price—We may purchase or sell a physical commodity where the underlying contract pricing mechanisms are tied to different indices. These indices may vary in the commodity grade or location, or in the timing of delivery within a given month. These contracts are derivatives we have entered into as an economic hedge against the risk of one index moving relative to another index.
Schedule of net gains from entity's commodity derivatives to cost of sales	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) $ $ $ $
Schedule of fair value estimates of fixed-rate notes	The following table provides fair value estimates of our fixed-rate notes at December 31, 2015 (in thousands): 5.125% Notes due 2019 $ 6.875% Notes due 2021 6.650% Notes due 2022

Segments (Tables)

Segments (Tables)	9 Months Ended
	Dec. 31, 2015
Segments
Schedule of certain information related to results of operations by segment	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) Revenues: Crude oil logistics— Crude oil sales $ $ $ $ Crude oil transportation and other Water solutions— Service fees Recovered hydrocarbons Water transportation — — Other revenues — — Liquids— Propane sales Other product sales Other revenues Retail propane— Propane sales Distillate sales Other revenues Refined products and renewables— Refined products sales Renewables sales Service fees Corporate and other — ) — Elimination of intersegment sales ) ) ) ) Total revenues $ $ $ $ Depreciation and Amortization: Crude oil logistics $ $ $ $ Water solutions Liquids Retail propane Refined products and renewables Corporate and other Total depreciation and amortization $ $ $ $ Operating Income (Loss): Crude oil logistics $ $ ) $ $ ) Water solutions ) ) Liquids ) ) Retail propane Refined products and renewables Corporate and other ) ) ) ) Total operating income $ $ $ $ (1) During the six months ended September 30, 2015, we made certain changes in the way we attribute revenues to the categories shown in the table above. These changes did not impact total revenues. We have retrospectively adjusted previously reported amounts to conform to the current presentation.
Schedule of additions to property, plant and equipment by segment	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) Additions to property, plant and equipment: Crude oil logistics $ $ $ $ Water solutions Liquids Retail propane Refined products and renewables Corporate and other Total $ $ $ $
Schedule of long-lived assets (consisting of property, plant and equipment, intangible assets and goodwill) and total assets by segment	December 31, March 31, 2015 2015 (in thousands) Long-lived assets, net: Crude oil logistics $ $ Water solutions Liquids Retail propane Refined products and renewables Corporate and other Total $ $ Total assets: Crude oil logistics $ $ Water solutions Liquids Retail propane Refined products and renewables Corporate and other Total $ $

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	9 Months Ended
	Dec. 31, 2015
Transactions with Affiliates
Summary of purchase and sales transactions of products and services	Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 (in thousands) Sales to SemGroup $ $ $ $ Purchases from SemGroup Sales to equity method investees Purchases from equity method investees Sales to entities affiliated with management Purchases from entities affiliated with management
Schedule of accounts receivable from affiliates	December 31, March 31, 2015 2015 (in thousands) Receivables from SemGroup $ $ Receivables from equity method investees Receivables from entities affiliated with management Total $ $
Schedule of accounts payable to affiliates	December 31, March 31, 2015 2015 (in thousands) Payables to SemGroup $ $ Payables to equity method investees Payables to entities affiliated with management Total $ $

Condensed Consolidating Guara39

Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Tables)	9 Months Ended
	Dec. 31, 2015
Condensed Consolidating Guarantor and Non-Guarantor Financial Information
Schedule of Condensed Consolidating Balance Sheets	NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Balance Sheet (U.S. Dollars in Thousands) December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated ASSETS CURRENT ASSETS: Cash and cash equivalents $ $ — $ $ $ — $ Accounts receivable—trade, net of allowance for doubtful accounts — — — Accounts receivable—affiliates — — — Inventories — — — Prepaid expenses and other current assets — — — Assets held for sale — — — — Total current assets — — PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation — — — GOODWILL — — — INTANGIBLE ASSETS, net of accumulated amortization — — INVESTMENTS IN UNCONSOLIDATED ENTITIES — — — NET INTERCOMPANY RECEIVABLES (PAYABLES) — ) ) — — INVESTMENTS IN CONSOLIDATED SUBSIDIARIES — — ) — LOAN RECEIVABLE—AFFILIATE — — — — OTHER NONCURRENT ASSETS — — — Total assets $ $ — $ $ $ ) $ LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable—trade $ — $ — $ $ $ — $ Accounts payable—affiliates — — Accrued expenses and other payables — — Advance payments received from customers — — — Current maturities of long-term debt — — — Total current liabilities — — LONG-TERM DEBT, net of current maturities — — OTHER NONCURRENT LIABILITIES — — — EQUITY: Partners’ equity — ) Accumulated other comprehensive loss — — — ) — ) Noncontrolling interests — — — — Total equity — ) Total liabilities and equity $ $ — $ $ $ ) $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. Since the parent received the proceeds from the issuance of the 2019 Notes and 2021 Notes, all activity has been reflected in the parent column. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Balance Sheet (U.S. Dollars in Thousands) March 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated ASSETS CURRENT ASSETS: Cash and cash equivalents $ $ — $ $ $ — $ Accounts receivable—trade, net of allowance for doubtful accounts — — — Accounts receivable—affiliates — — Inventories — — — Prepaid expenses and other current assets — — — Total current assets — — PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation — — — GOODWILL — — — INTANGIBLE ASSETS, net of accumulated amortization — — INVESTMENTS IN UNCONSOLIDATED ENTITIES — — — NET INTERCOMPANY RECEIVABLES (PAYABLES) — ) ) — — INVESTMENTS IN CONSOLIDATED SUBSIDIARIES — — ) — LOAN RECEIVABLE—AFFILIATE — — — — OTHER NONCURRENT ASSETS — — — Total assets $ $ — $ $ $ ) $ LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable—trade $ — $ — $ $ $ — $ Accounts payable—affiliates — — — Accrued expenses and other payables — — Advance payments received from customers — — — Current maturities of long-term debt — — — Total current liabilities — — LONG-TERM DEBT, net of current maturities — — OTHER NONCURRENT LIABILITIES — — — EQUITY: Partners’ equity — ) Accumulated other comprehensive loss — — — ) — ) Noncontrolling interests — — — — Total equity — ) Total liabilities and equity $ $ — $ $ $ ) $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. Since the parent received the proceeds from the issuance of the 2019 Notes and 2021 Notes, all activity has been reflected in the parent column.
Schedule of Condensed Consolidating Statements of Operations	NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Operations (U.S. Dollars in Thousands) Three Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated REVENUES $ — $ — $ $ $ ) $ COST OF SALES — — ) OPERATING COSTS AND EXPENSES: Operating — — ) General and administrative — — — Depreciation and amortization — — — Loss (gain) on disposal or impairment of assets, net — — ) — Operating Income — — — OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — — Interest expense ) — ) ) ) Other income, net — — ) Income (Loss) Before Income Taxes ) — — INCOME TAX EXPENSE — — ) ) — ) EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES — — ) — Net Income — ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER ) ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS ) ) NET INCOME ALLOCATED TO LIMITED PARTNERS $ $ — $ $ $ ) $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Operations (U.S. Dollars in Thousands) Three Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated REVENUES $ — $ — $ $ $ ) $ COST OF SALES — — ) OPERATING COSTS AND EXPENSES: Operating — — — General and administrative — — — Depreciation and amortization — — — Loss on disposal or impairment of assets, net — — — Operating Income (Loss) — — ) — OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — — Interest expense ) — ) ) ) Other income, net — — ) Income (Loss) Before Income Taxes ) — ) — ) INCOME TAX (EXPENSE) BENEFIT — — ) — EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES — ) — — Net Income (Loss) ) — ) ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER ) ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS ) ) NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS $ ) $ — $ $ ) $ $ ) (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Operations (U.S. Dollars in Thousands) Nine Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated REVENUES $ — $ — $ $ $ ) $ COST OF SALES — — ) OPERATING COSTS AND EXPENSES: Operating — — ) General and administrative — — — Depreciation and amortization — — — Loss (gain) on disposal or impairment of assets, net — — ) — Operating Income — — — OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — — Interest expense ) — ) ) ) Other income, net — — ) Income (Loss) Before Income Taxes ) — ) — ) INCOME TAX (EXPENSE) BENEFIT — — ) — EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES — — ) — Net Income (Loss) ) — ) ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER ) ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS ) ) NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS $ ) $ — $ $ $ ) $ ) (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Operations (U.S. Dollars in Thousands) Nine Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated REVENUES $ — $ — $ $ $ ) $ COST OF SALES — — ) OPERATING COSTS AND EXPENSES: Operating — — — General and administrative — — — Depreciation and amortization — — — Loss on disposal or impairment of assets, net — — — Operating Income (Loss) — — ) — OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — — Interest expense ) — ) ) ) Other income, net — — ) Income (Loss) Before Income Taxes ) — ) — ) INCOME TAX (EXPENSE) BENEFIT — — ) — EQUITY IN NET LOSS OF CONSOLIDATED SUBSIDIARIES ) — ) — — Net Loss ) — ) ) ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER ) ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS ) ) NET LOSS ALLOCATED TO LIMITED PARTNERS $ ) $ — $ ) $ ) $ $ ) (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 notes and 2021 Notes.
Schedule of Condensed Consolidating Statements of Comprehensive Income (Loss)	NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (Loss) (U.S. Dollars in Thousands) Three Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated Net income $ $ — $ $ $ ) $ Other comprehensive loss — — — ) — ) Comprehensive income $ $ — $ $ $ ) $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. Three Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (2) Finance Corp. (2) Subsidiaries Subsidiaries Adjustments Consolidated Net income (loss) $ ) $ — $ $ ) $ $ ) Other comprehensive loss — — — ) — ) Comprehensive income (loss) $ ) $ — $ $ ) $ $ ) (2) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (Loss) (U.S. Dollars in Thousands) Nine Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Adjustments Consolidated Net income (loss) $ ) $ — $ $ $ ) $ ) Other comprehensive loss — — — ) — ) Comprehensive income (loss) $ ) $ — $ $ $ ) $ ) (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. Nine Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor Consolidating (Parent) (2) Finance Corp. (2) Subsidiaries Subsidiaries Adjustments Consolidated Net loss $ ) $ — $ ) $ ) $ $ ) Other comprehensive income (loss) — — ) — Comprehensive loss $ ) $ — $ ) $ ) $ $ ) (2) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes.
Schedule of Condensed Consolidating Statements of Cash Flows	NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Cash Flows (U.S. Dollars in Thousands) Nine Months Ended December 31, 2015 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ ) $ — $ $ $ INVESTING ACTIVITIES: Purchases of long-lived assets — — ) ) ) Acquisitions of businesses, including acquired working capital, net of cash acquired ) — ) ) ) Cash flows from commodity derivatives — — — Proceeds from sales of assets — — Investments in unconsolidated entities — — ) ) ) Distributions of capital from unconsolidated entities — — Loan for natural gas liquids facility — — ) — ) Payments on loan for natural gas liquids facility — — — Loan to affiliate — — ) — ) Payments on loan to affiliate — — — Net cash used in investing activities ) — ) ) ) FINANCING ACTIVITIES: Proceeds from borrowings under revolving credit facilities — — Payments on revolving credit facilities — — ) ) ) Proceedings from borrowings under other long-term debt — — Payments on other long-term debt — — ) ) ) Debt issuance costs ) — ) ) ) Contributions from general partner — — — Contributions from noncontrolling interest owners — — — Distributions to partners ) — — — ) Distributions to noncontrolling interest owners — — — ) ) Taxes paid on behalf of equity incentive plan participants — — ) — ) Common unit repurchases ) — — — ) Net changes in advances with consolidated entities — ) — Other — — ) ) ) Net cash provided by (used in) financing activities — ) Net decrease in cash and cash equivalents ) — ) ) ) Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ — $ $ $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes. NGL ENERGY PARTNERS LP AND SUBSIDIARIES Condensed Consolidating Statement of Cash Flows (U.S. Dollars in Thousands) Nine Months Ended December 31, 2014 NGL Energy Partners LP NGL Energy Guarantor Non-Guarantor (Parent) (1) Finance Corp. (1) Subsidiaries Subsidiaries Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ ) $ — $ $ $ INVESTING ACTIVITIES: Purchases of long-lived assets — — ) ) ) Acquisitions of businesses, including acquired working capital, net of cash acquired — — ) ) ) Cash flows from commodity derivatives — — — Proceeds from sales of assets — — Investments in unconsolidated entities — — ) ) ) Distributions of capital from unconsolidated entities — — Loan for natural gas liquids facility — — ) — ) Other — — — ) ) Net cash used in investing activities — — ) ) ) FINANCING ACTIVITIES: Proceeds from borrowings under revolving credit facilities — — Payments on revolving credit facilities — — ) ) ) Issuance of notes — — — Payments on other long-term debt — — ) ) ) Debt issuance costs ) — ) — ) Contributions from general partner — — — Distributions to partners ) — — — ) Distributions to noncontrolling interest owners — — — ) ) Proceeds from sale of common units, net of offering costs — — — Net changes in advances with consolidated entities ) — ) — Other — — ) — ) Net cash provided by (used in) financing activities — ) Net increase in cash and cash equivalents — Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ — $ $ $ (1) The parent and NGL Energy Finance Corp. are co-issuers of the 2019 Notes and 2021 Notes.

Organization and Operations (De

Organization and Operations (Details) - item	Feb. 01, 2016	Dec. 31, 2015	Mar. 31, 2015
Organization and operations
Ownership interest (as a percent)		0.10%	0.10%
TLP | General Partner
Organization and operations
Ownership interest (as a percent)		2.00%
Ownership interest sold (as a percent)	2.00%
TLP | Limited Partner
Organization and operations
Ownership interest (as a percent)		19.60%
Liquids
Organization and operations
Number of owned terminals		19
Retail propane
Organization and operations
Number of states in which entity operates		25

Significant Accounting Polici41

Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2015
Revenue Recognition
Amortization of contract liabilities to revenues	$ 1.5	$ 4.4

Significant Accounting Polici42

Significant Accounting Policies - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Supplemental Cash Flow Information
Interest paid, exclusive of debt issuance costs and letter of credit fees	$ 32,722	$ 28,927	$ 90,217	$ 65,356
Income taxes paid (net of income tax refunds)	$ (2,838)	$ 303	$ 1,778	$ 2,549

Significant Accounting Polici43

Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Inventories
Crude oil	$ 81,723	$ 145,412
Natural gas liquids-
Propane	65,962	44,535
Butane	15,014	8,668
Other	11,300	3,874
Refined products-
Gasoline	112,131	128,092
Diesel	78,082	59,097
Renewables	39,388	44,668
Other	10,488	7,416
Total	$ 414,088	$ 441,762

Significant Accounting Polici44

Significant Accounting Policies - Investments in Unconsolidated Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Investments in Unconsolidated Entities
Carrying Value	$ 467,559	$ 472,673
Glass Mountain
Investments in Unconsolidated Entities
Equity method ownership interest (as a percent)	50.00%
Carrying Value	$ 181,479	187,590
Fair value in excess of historical net book value	75,100
BOSTCO and Frontera
Investments in Unconsolidated Entities
Fair value in excess of historical net book value	$ 15,600
BOSTCO
Investments in Unconsolidated Entities
Equity method ownership interest (as a percent)	42.50%
Carrying Value	$ 236,922	238,146
Frontera
Investments in Unconsolidated Entities
Equity method ownership interest (as a percent)	50.00%
Carrying Value	$ 17,595	16,927
Water supply company
Investments in Unconsolidated Entities
Equity method ownership interest (as a percent)	35.00%
Carrying Value	$ 16,102	16,471
Water treatment and disposal facility
Investments in Unconsolidated Entities
Equity method ownership interest (as a percent)	50.00%
Carrying Value	$ 2,290
Ethanol production facility
Investments in Unconsolidated Entities
Equity method ownership interest (as a percent)	19.00%
Carrying Value	$ 12,507	$ 13,539
Retail propane company
Investments in Unconsolidated Entities
Equity method ownership interest (as a percent)	50.00%
Carrying Value	$ 664

Significant Accounting Polici45

Significant Accounting Policies - Other Noncurrent Assets (Details) $ in Thousands	Dec. 31, 2015USD ($)bbl	Mar. 31, 2015USD ($)
Other Noncurrent Assets
Loan receivable	$ 52,154	$ 58,050
Linefill	35,060	35,060
Other	18,872	19,727
Total	$ 106,086	$ 112,837
Linefill volume | bbl	487,104

Significant Accounting Polici46

Significant Accounting Policies - Accrued Expenses and Other Payables (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Accrued Expenses and Other Payables
Accrued compensation and benefits	$ 41,425	$ 52,078
Excise and other tax liabilities	49,217	43,847
Derivative liabilities	30,739	27,950
Accrued interest	19,730	23,065
Product exchange liabilities	21,317	15,480
Other	30,867	32,696
Total	$ 193,295	$ 195,116

Significant Accounting Polici47

Significant Accounting Policies - Noncontrolling Interest (Details)	Feb. 01, 2016	Jul. 01, 2014	Dec. 31, 2015	Mar. 31, 2015
Noncontrolling Interests
Limited partners, interest (as a percent)			99.90%	99.90%
General partner interest (as a percent)			0.10%	0.10%
TLP
Noncontrolling Interests
Limited partners, interest (as a percent)		98.00%
General partner interest (as a percent)		2.00%
General Partner | TLP
Noncontrolling Interests
Ownership interest acquired (as a percent)		2.00%
Ownership interest sold (as a percent)	2.00%
Limited Partner | TLP
Noncontrolling Interests
Ownership interest acquired (as a percent)		19.70%

Significant Accounting Polici48

Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	Dec. 31, 2015	Mar. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles
Debt issuance costs at reporting date	$ 17.4	$ 17.8

Income (Loss) Per Common Unit49

Income (Loss) Per Common Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2015	Dec. 31, 2014
Income (Loss) Per Common Unit
Net income (loss) attributable to parent equity	$ 23,481	$ (10,918)		$ (45,963)	$ (70,117)
Less: Net income allocated to general partner	(16,217)	(11,783)		(47,742)	(32,220)
Net income (loss) allocated to limited partners	7,264	(22,701)		(93,705)	(102,337)
Effect of dilutive securities (restricted units)	(3,967)
Net income (loss) attributable to common unitholders (diluted)	$ 3,297	$ (22,701)		$ (93,705)	$ (98,324)
Basic income (loss) per common unit (in dollars per unit)	$ 0.07	$ (0.26)		$ (0.89)	$ (1.17)
Diluted income (loss) per common unit (in dollars per unit)	$ 0.03	$ (0.26)		$ (0.89)	$ (1.17)
Basic weighted average common units outstanding (in units)	105,338,200	88,545,764		104,808,649	83,702,571
Diluted weighted average common units outstanding (in units)	106,194,547	88,545,764		104,808,649	83,702,571
Common Units
Income (Loss) Per Common Unit
Net income (loss) allocated to limited partners	$ 7,264	$ (22,701)		$ (93,705)	$ (98,324)
Basic weighted average common units outstanding (in units)	105,338,200	88,545,764		104,808,649	83,702,571
Restricted units considered dilutive	856,347
Subordinated Units
Income (Loss) Per Common Unit
Net income (loss) allocated to limited partners					$ 4,013
Basic and diluted weighted average units outstanding (in units)			5,919,346
Basic and diluted income (loss) per unit (in dollars per unit)			$ (0.68)

Grand Mesa Pipeline (Details)

Grand Mesa Pipeline (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Nov. 30, 2015bbl	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Mar. 31, 2015USD ($)
Grand Mesa Pipeline
Cost		$ 2,278,158		$ 2,278,158		$ 1,820,348
Payment made		302,242	$ 120,793	606,444	$ 781,302
Costs reclassified to intangible assets		379,616		379,616		$ 332,620
Rights-of-way and easements
Grand Mesa Pipeline
Costs reclassified to intangible assets		46,996		46,996
Rights-of-way and easements | Grand Mesa Pipeline
Grand Mesa Pipeline
Costs reclassified to intangible assets		47,000		47,000
Joint Pipeline | Grand Mesa Pipeline
Grand Mesa Pipeline
Interest acquired in a crude oil pipeline	37.50%
Number of barrels per day that can be utilized | bbl	150,000
Payment made		125,000
Pipe | Grand Mesa Pipeline
Grand Mesa Pipeline
Cost		$ 87,400		$ 87,400

Acquisitions - Delaware Basin W

Acquisitions - Delaware Basin Water Solutions Facilities (Details) $ in Thousands	Aug. 24, 2015USD ($)item	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)
Estimated fair values of the assets acquired and liabilities assumed
Goodwill		$ 1,522,644	$ 1,402,761
Delaware Basin Water Solutions Facilities
Acquisitions
Cash paid	$ 50,000
Estimated fair values of the assets acquired and liabilities assumed
Goodwill	12,776
Investments in unconsolidated entities	2,290
Accrued expenses and other payables	(116)
Fair value of net assets acquired	50,000
Delaware Basin Water Solutions Facilities | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	18,650
Delaware Basin Water Solutions Facilities | Land
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	400
Delaware Basin Water Solutions Facilities | Customer relationships
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets	$ 16,000
Useful life of intangible assets	6 years
Four saltwater disposal facilities
Acquisitions
Number of businesses acquired | item	4
A saltwater disposal facility
Acquisitions
Ownership interest acquired (as a percent)	50.00%
Minimum | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		3 years
Minimum | Delaware Basin Water Solutions Facilities | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Maximum | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		30 years
Maximum | Delaware Basin Water Solutions Facilities | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years

Acquisitions - Water Solutions

Acquisitions - Water Solutions Facilities (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2015USD ($)itemshares	Mar. 31, 2015USD ($)
Estimated fair values of the assets acquired and liabilities assumed
Goodwill	$ 1,522,644	$ 1,402,761
Water Solutions Facilities - 2016 Acquisitions
Acquisitions
Cash paid	120,000
Value of common units issued	$ 18,100
Water Solutions Facilities - 2016 Acquisitions | Common Units
Acquisitions
Common units issued | shares	781,255
12 water treatment and disposal facilities
Acquisitions
Number of businesses acquired | item	12
Additional water solutions facility acquired in 2016
Acquisitions
Number of businesses acquired | item	1
Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting
Acquisitions
Number of business combinations for which acquisition accounting is completed | item	6
Estimated fair values of the assets acquired and liabilities assumed
Goodwill	$ 43,252
Accrued expenses and other payables	(102)
Other noncurrent liabilities	(174)
Fair value of net assets acquired	75,672
Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	25,099
Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	6,495
Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting | Land
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	1,070
Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting | Other
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	$ 32
Useful life of property, plant and equipment	5 years
Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process
Acquisitions
Number of business combinations for which acquisition accounting remains to be completed | item	7
Estimated fair values of the assets acquired and liabilities assumed
Goodwill	$ 28,484
Accrued expenses and other payables	(4,000)
Other noncurrent liabilities	(198)
Fair value of net assets acquired	62,428
Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	32,776
Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	4,802
Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process | Land
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	544
Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process | Other
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	$ 20
Useful life of property, plant and equipment	5 years
Minimum | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Minimum | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Minimum | Other
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Minimum | Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Minimum | Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	7 years
Minimum | Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Minimum | Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	7 years
Maximum | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years
Maximum | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	40 years
Maximum | Other
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years
Maximum | Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years
Maximum | Water Solutions Facilities - 2016 Acquisitions, Completed Acquisition Accounting | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years
Maximum | Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years
Maximum | Water Solutions Facilities - 2016 Acquisitions, Acquisition Accounting In Process | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years

Acquisitions Retail Propane Bus

Acquisitions Retail Propane Businesses (Details) - Retail Propane Businesses - 2016 Acquisitions $ in Millions	9 Months Ended
	Dec. 31, 2015USD ($)itemshares
Acquisitions
Number of businesses acquired | item	5
Cash paid	$ 17.4
Common units issued | shares	52,199
Value of common units issued	$ 1

Acquisitions - Natural Gas Liqu

Acquisitions - Natural Gas Liquids Storage Facility (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Feb. 28, 2015	Dec. 31, 2015	Dec. 31, 2015	Mar. 31, 2015
Estimated fair values of the assets acquired and liabilities assumed
Goodwill		$ 1,522,644	$ 1,522,644	$ 1,402,761
Change
Goodwill			30,462
Consideration paid for acquisition
Amortization of contract liabilities to revenues		1,500	$ 4,400
Natural gas liquids terminal and storage assets | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			2 years
Natural gas liquids terminal and storage assets | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			30 years
Vehicles and railcars | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			3 years
Vehicles and railcars | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			25 years
Other | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			3 years
Other | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			30 years
Natural Gas Liquids Storage
Acquisitions
Cash paid	$ 97,600
Value of common units issued	$ 218,500
Estimated fair values of the assets acquired and liabilities assumed
Accounts receivable - trade		42	$ 42	42
Inventories		263	263
Prepaid expenses and other current assets		843	843	600
Goodwill		183,096	183,096	151,853
Accounts payable - trade		(931)	(931)	(931)
Accrued expenses and other payables		(6,774)	(6,774)	(6,511)
Advance payments received from customers		(1,015)	(1,015)	(1,015)
Other noncurrent liabilities		(6,817)	(6,817)	(6,817)
Fair value of net assets acquired		316,126	316,126	316,126
Change
Inventories			263
Prepaid expenses and other current assets			243
Goodwill			31,243
Accrued expenses and other payables			(263)
Natural Gas Liquids Storage | Crude oil storage lease commitments
Consideration paid for acquisition
Liability recorded in the acquisition accounting		12,800	12,800
Amortization of contract liabilities to revenues			4,400
Future amortization
2016 (three months)			1,452
2,017			4,905
2,018			1,306
2,019			88
Natural Gas Liquids Storage | Customer relationships
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets		61,500	$ 61,500	85,000
Useful life of intangible assets			15 years
Change
Intangible assets			$ (23,500)
Natural Gas Liquids Storage | Non-compete agreements
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets		5,100	$ 5,100	12,000
Useful life of intangible assets			10 years
Change
Intangible assets			$ (6,900)
Natural Gas Liquids Storage | Natural gas liquids terminal and storage assets
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		61,130	61,130	62,205
Change
Property, plant and equipment			$ (1,075)
Natural Gas Liquids Storage | Natural gas liquids terminal and storage assets | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			2 years
Natural Gas Liquids Storage | Natural gas liquids terminal and storage assets | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			30 years
Natural Gas Liquids Storage | Vehicles and railcars
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		78	$ 78	75
Change
Property, plant and equipment			$ 3
Natural Gas Liquids Storage | Vehicles and railcars | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			3 years
Natural Gas Liquids Storage | Vehicles and railcars | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			25 years
Natural Gas Liquids Storage | Land
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		69	$ 69	68
Change
Property, plant and equipment			1
Natural Gas Liquids Storage | Other
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		17	17	32
Change
Property, plant and equipment			(15)
Natural Gas Liquids Storage | Construction in progress
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 19,525	$ 19,525	$ 19,525
Common Units | Natural Gas Liquids Storage
Acquisitions
Common units issued	7,396,973

Acquisitions - Bakken Water Sol

Acquisitions - Bakken Water Solutions Facilities (Details) $ in Thousands	Nov. 21, 2014USD ($)item	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)
Estimated fair values of the assets acquired and liabilities assumed
Goodwill		$ 1,522,644	$ 1,402,761
Change
Goodwill		$ 30,462
Water treatment facilities and equipment | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		3 years
Water treatment facilities and equipment | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		30 years
Buildings and leasehold improvements | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		3 years
Buildings and leasehold improvements | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		40 years
Bakken Water Solutions Facilities
Acquisitions
Number of businesses acquired | item	2
Cash paid	$ 34,600
Estimated fair values of the assets acquired and liabilities assumed
Goodwill		$ 4,421	6,560
Other noncurrent assets		75
Other noncurrent liabilities		(304)	(68)
Fair value of net assets acquired		34,600	34,600
Change
Goodwill		(2,139)
Other noncurrent assets		75
Other noncurrent liabilities		(236)
Bakken Water Solutions Facilities | Customer relationships
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets		$ 24,300	22,000
Useful life of intangible assets		7 years
Change
Intangible assets		$ 2,300
Bakken Water Solutions Facilities | Vehicles
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 63	63
Useful life of property, plant and equipment		10 years
Bakken Water Solutions Facilities | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 5,815	5,815
Bakken Water Solutions Facilities | Water treatment facilities and equipment | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		3 years
Bakken Water Solutions Facilities | Water treatment facilities and equipment | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		30 years
Bakken Water Solutions Facilities | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 130	130
Bakken Water Solutions Facilities | Buildings and leasehold improvements | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		7 years
Bakken Water Solutions Facilities | Buildings and leasehold improvements | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		30 years
Bakken Water Solutions Facilities | Land
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 100	$ 100

Acquisitions - TransMontaigne I

Acquisitions - TransMontaigne Inc. (Details) - USD ($) $ in Thousands	Feb. 01, 2016	Jul. 01, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Acquisitions
Purchase price, net of cash acquired			$ 187,356	$ 1,114,045
Estimated fair values of the assets acquired and liabilities assumed
Goodwill			1,522,644		$ 1,402,761
Change
Goodwill			$ 30,462
Refined products terminal assets and equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment			20 years
TransMontaigne
Acquisitions
Purchase price, net of cash acquired		$ 200,300
Paid at closing		174,100
Paid upon completion of working capital settlement		26,200
Inventory purchased			$ 373,870		373,870
Amount paid for inventory purchased		346,900
Working capital settlement payment		33,500
Estimated fair values of the assets acquired and liabilities assumed
Cash and cash equivalents			1,469		1,469
Accounts receivable - trade			199,366		197,829
Accounts receivable - affiliates			528		528
Inventories			373,870		373,870
Prepaid expenses and other current assets			15,110		15,001
Goodwill			30,169		28,074
Investments in unconsolidated entities			240,583		240,583
Other noncurrent assets			3,911		3,911
Accounts payable - trade			(113,103)		(113,066)
Accounts payable - affiliates			(69)		(69)
Accrued expenses and other payables			(79,405)		(78,427)
Advance payments received from customers			(1,919)		(1,919)
Long-term debt			(234,000)		(234,000)
Other noncurrent liabilities			(33,227)		(33,227)
Noncontrolling interest			(545,120)		(545,120)
Fair value of net assets acquired			580,707		580,707
Change
Accounts receivable-trade			1,537
Prepaid expenses and other current assets			109
Goodwill			2,095
Accounts payable - trade			37
Accrued expenses and other payables			(978)
TransMontaigne | Customer relationships
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets			$ 66,000		76,100
Useful life of intangible assets			15 years
Change
Intangible assets			$ (10,100)
TransMontaigne | Pipeline capacity rights
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets			$ 87,618		87,618
Useful life of intangible assets			30 years
TransMontaigne | Refined products terminal assets and equipment
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			$ 415,317		399,323
Useful life of property, plant and equipment			20 years
Change
Property, plant and equipment			$ 15,994
TransMontaigne | Vehicles
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			1,696		1,698
Change
Property, plant and equipment			(2)
TransMontaigne | Crude oil tanks and related equipment
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			$ 1,085		1,058
Useful life of property, plant and equipment			20 years
Change
Property, plant and equipment			$ 27
TransMontaigne | Information technology equipment
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			7,253		7,253
TransMontaigne | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			$ 15,323		14,770
Useful life of property, plant and equipment			20 years
Change
Property, plant and equipment			$ 553
TransMontaigne | Land
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			61,329		70,529
Change
Property, plant and equipment			(9,200)
TransMontaigne | Tank bottoms
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			46,900		46,900
TransMontaigne | Other
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			15,536		15,534
Change
Property, plant and equipment			2
TransMontaigne | Construction in progress
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment			$ 4,487		$ 4,487
Previous owner of TransMontaigne
Acquisitions
Inventory purchased		380,400
Estimated fair values of the assets acquired and liabilities assumed
Inventories		$ 380,400
General Partner | TransMontaigne
Acquisitions
Ownership interest acquired (as a percent)		2.00%
TLP | General Partner
Acquisitions
Ownership interest sold (as a percent)	2.00%
TLP | Limited Partner | TransMontaigne
Acquisitions
Ownership interest acquired (as a percent)		19.70%

Acquisitions - Water Solution57

Acquisitions - Water Solutions Facilities (Details)) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2014USD ($)itemshares	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)item
Estimated fair values of the assets acquired and liabilities assumed
Goodwill		$ 1,522,644	$ 1,402,761
Change
Goodwill		$ 30,462
Water treatment facilities and equipment | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		3 years
Water treatment facilities and equipment | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		30 years
Buildings and leasehold improvements | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		3 years
Buildings and leasehold improvements | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		40 years
Other | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		3 years
Other | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		30 years
Water Solutions Facilities - 2015 Acquisitions
Acquisitions
Number of businesses acquired | item	17
Cash paid	$ 190,000
Value of common units issued	$ 37,800
Estimated fair values of the assets acquired and liabilities assumed
Accounts receivable - trade		$ 939	939
Inventories		253	253
Prepaid expenses and other current assets		62	62
Goodwill		132,033	132,770
Other noncurrent assets		50	50
Accounts payable - trade		(58)	(58)
Accrued expenses and other payables		(3,092)	(3,092)
Other noncurrent liabilities		(582)	(582)
Noncontrolling interest		(5,775)	(5,775)
Fair value of net assets acquired		227,761	227,761
Change
Goodwill		(737)
Water Solutions Facilities - 2015 Acquisitions | Customer relationships
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets		$ 10,000	10,000
Useful life of intangible assets		4 years
Water Solutions Facilities - 2015 Acquisitions | Water treatment facilities and equipment
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 79,982	79,706
Change
Property, plant and equipment		$ 276
Water Solutions Facilities - 2015 Acquisitions | Water treatment facilities and equipment | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		3 years
Water Solutions Facilities - 2015 Acquisitions | Water treatment facilities and equipment | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		30 years
Water Solutions Facilities - 2015 Acquisitions | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 10,690	10,250
Change
Property, plant and equipment		$ 440
Water Solutions Facilities - 2015 Acquisitions | Buildings and leasehold improvements | Minimum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		7 years
Water Solutions Facilities - 2015 Acquisitions | Buildings and leasehold improvements | Maximum
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment		30 years
Water Solutions Facilities - 2015 Acquisitions | Land
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 3,127	3,109
Change
Property, plant and equipment		18
Water Solutions Facilities - 2015 Acquisitions | Other
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment		$ 132	$ 129
Useful life of property, plant and equipment		5 years
Change
Property, plant and equipment		$ 3
16 Water solutions facilities
Acquisitions
Number of businesses acquired | item			16
Additional water solutions facility, 2015
Acquisitions
Number of businesses acquired | item	1
Ownership interest acquired (as a percent)	75.00%
Common Units | Water Solutions Facilities - 2015 Acquisitions
Acquisitions
Common units issued | shares	1,322,032

Acquisitions - Retail Propane B

Acquisitions - Retail Propane Businesses (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)itemshares
Estimated fair values of the assets acquired and liabilities assumed
Goodwill	$ 1,522,644	$ 1,402,761
Change
Goodwill	30,462
Retail Propane - 2015 Acquisitions
Acquisitions
Number of businesses acquired | item		8
Cash paid		$ 39,100
Estimated fair values of the assets acquired and liabilities assumed
Accounts receivable - trade	2,237	2,237
Inventories	771	771
Prepaid expenses and other current assets	110	110
Goodwill	8,097	8,097
Accounts payable - trade	(1,523)	(1,921)
Advance payments received from customers	(1,750)	(1,750)
Current maturities of long-term debt	(78)	(78)
Long-term debt, net of current maturities	(760)	(760)
Fair value of net assets acquired	42,783	42,783
Change
Accounts payable - trade	(398)
Retail propane equipment | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	13,177	13,177
Vehicles and railcars | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	2,332	2,332
Buildings and leasehold improvements | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	$ 534	784
Useful life of property, plant and equipment	30 years
Change
Property, plant and equipment	$ (250)
Land | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	505	655
Change
Property, plant and equipment	(150)
Other | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Property, plant and equipment	118	116
Change
Property, plant and equipment	$ 2
Minimum | Retail propane equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	2 years
Minimum | Retail propane equipment | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	15 years
Minimum | Vehicles and railcars
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Minimum | Vehicles and railcars | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	5 years
Minimum | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Minimum | Other
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	3 years
Minimum | Other | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	5 years
Maximum | Retail propane equipment
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years
Maximum | Retail propane equipment | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	20 years
Maximum | Vehicles and railcars
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	25 years
Maximum | Vehicles and railcars | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	7 years
Maximum | Buildings and leasehold improvements
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	40 years
Maximum | Other
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	30 years
Maximum | Other | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of property, plant and equipment	7 years
Customer relationships | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets	$ 17,563	17,563
Customer relationships | Minimum | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of intangible assets	10 years
Customer relationships | Maximum | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of intangible assets	15 years
Non-compete agreements | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets	$ 500	500
Non-compete agreements | Minimum | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of intangible assets	5 years
Non-compete agreements | Maximum | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of intangible assets	7 years
Trade names | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Intangible assets	$ 950	$ 950
Trade names | Minimum | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of intangible assets	3 years
Trade names | Maximum | Retail Propane - 2015 Acquisitions
Estimated fair values of the assets acquired and liabilities assumed
Useful life of intangible assets	12 years
Common Units | Retail Propane - 2015 Acquisitions
Acquisitions
Common units issued | shares		132,100
Value of common units issued		$ 3,700

Property, Plant and Equipment59

Property, Plant and Equipment (Details) bbl in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015USD ($)bbl	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)bbl	Dec. 31, 2014USD ($)	Mar. 31, 2015USD ($)bbl
Property, Plant and Equipment
Property, plant and equipment, gross	$ 2,278,158		$ 2,278,158		$ 1,820,348
Accumulated depreciation	(305,233)		(305,233)		(202,959)
Net property, plant and equipment	1,972,925		1,972,925		1,617,389
Depreciation expense	35,443	$ 29,723	105,707	$ 76,593
Natural gas liquids terminal and storage assets
Property, Plant and Equipment
Property, plant and equipment, gross	125,579		$ 125,579		132,851
Natural gas liquids terminal and storage assets | Minimum
Property, Plant and Equipment
Useful life			2 years
Natural gas liquids terminal and storage assets | Maximum
Property, Plant and Equipment
Useful life			30 years
Refined products terminal assets and equipment
Property, Plant and Equipment
Useful life			20 years
Property, plant and equipment, gross	444,087		$ 444,087		403,609
Retail propane equipment
Property, Plant and Equipment
Property, plant and equipment, gross	195,604		$ 195,604		181,140
Retail propane equipment | Minimum
Property, Plant and Equipment
Useful life			2 years
Retail propane equipment | Maximum
Property, Plant and Equipment
Useful life			30 years
Vehicles and railcars
Property, Plant and Equipment
Property, plant and equipment, gross	192,394		$ 192,394		180,679
Vehicles and railcars | Minimum
Property, Plant and Equipment
Useful life			3 years
Vehicles and railcars | Maximum
Property, Plant and Equipment
Useful life			25 years
Water treatment facilities and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	453,345		$ 453,345		317,317
Water treatment facilities and equipment | Minimum
Property, Plant and Equipment
Useful life			3 years
Water treatment facilities and equipment | Maximum
Property, Plant and Equipment
Useful life			30 years
Crude oil tanks and related equipment
Property, Plant and Equipment
Property, plant and equipment, gross	131,159		$ 131,159		109,909
Crude oil tanks and related equipment | Minimum
Property, Plant and Equipment
Useful life			2 years
Crude oil tanks and related equipment | Maximum
Property, Plant and Equipment
Useful life			40 years
Barges and towboats
Property, Plant and Equipment
Property, plant and equipment, gross	79,113		$ 79,113		59,848
Barges and towboats | Minimum
Property, Plant and Equipment
Useful life			5 years
Barges and towboats | Maximum
Property, Plant and Equipment
Useful life			40 years
Information technology equipment
Property, Plant and Equipment
Property, plant and equipment, gross	42,082		$ 42,082		34,915
Information technology equipment | Minimum
Property, Plant and Equipment
Useful life			3 years
Information technology equipment | Maximum
Property, Plant and Equipment
Useful life			7 years
Buildings and leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	125,580		$ 125,580		98,989
Buildings and leasehold improvements | Minimum
Property, Plant and Equipment
Useful life			3 years
Buildings and leasehold improvements | Maximum
Property, Plant and Equipment
Useful life			40 years
Land
Property, Plant and Equipment
Property, plant and equipment, gross	104,059		$ 104,059		107,098
Tank bottoms
Property, Plant and Equipment
Property, plant and equipment, gross	63,566		63,566		62,656
Tank bottoms | Gasoline
Property, Plant and Equipment
Property, plant and equipment, gross	$ 26,906		$ 26,906		$ 25,710
Volume of property, plant and equipment | bbl	230		230		219
Tank bottoms | Crude oil
Property, Plant and Equipment
Property, plant and equipment, gross	$ 19,349		$ 19,349		$ 16,835
Volume of property, plant and equipment | bbl	231		231		184
Tank bottoms | Diesel
Property, Plant and Equipment
Property, plant and equipment, gross	$ 13,697		$ 13,697		$ 15,153
Volume of property, plant and equipment | bbl	113		113		124
Tank bottoms | Renewables
Property, Plant and Equipment
Property, plant and equipment, gross	$ 2,906		$ 2,906		$ 4,220
Volume of property, plant and equipment | bbl	28		28		41
Tank bottoms | Other
Property, Plant and Equipment
Property, plant and equipment, gross	$ 708		$ 708		$ 738
Volume of property, plant and equipment | bbl	12		12		12
Other
Property, Plant and Equipment
Property, plant and equipment, gross	$ 25,851		$ 25,851		$ 34,415
Other | Minimum
Property, Plant and Equipment
Useful life			3 years
Other | Maximum
Property, Plant and Equipment
Useful life			30 years
Construction in progress
Property, Plant and Equipment
Property, plant and equipment, gross	$ 295,739		$ 295,739		$ 96,922

Goodwill (Details)

Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2015USD ($)
Goodwill
Goodwill at the beginning of the period	$ 1,402,761
Revisions to acquisition accounting (Note 5)	30,462
Acquisitions (Note 5)	89,421
Goodwill at the end of the period	1,522,644
Crude oil logistics
Goodwill
Goodwill at the beginning of the period	579,846
Goodwill at the end of the period	579,846
Water solutions
Goodwill
Goodwill at the beginning of the period	401,656
Revisions to acquisition accounting (Note 5)	(2,876)
Acquisitions (Note 5)	84,512
Goodwill at the end of the period	483,292
Liquids
Goodwill
Goodwill at the beginning of the period	234,803
Revisions to acquisition accounting (Note 5)	31,243
Goodwill at the end of the period	266,046
Retail propane
Goodwill
Goodwill at the beginning of the period	122,382
Acquisitions (Note 5)	4,909
Goodwill at the end of the period	127,291
Refined products and renewables
Goodwill
Goodwill at the beginning of the period	64,074
Revisions to acquisition accounting (Note 5)	2,095
Goodwill at the end of the period	$ 66,169

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Amortizable
Weighted average remaining amortization period	12 years
Gross Carrying Amount	$ 1,168,715	$ 1,176,240
Accumulated Amortization	305,891	220,517
Non-Amortizable
Total non-amortizable	379,616	332,620
Gross carrying amount of intangible assets	1,548,331	1,508,860
Rights-of-way and easements
Non-Amortizable
Total non-amortizable	46,996
Trade names
Non-Amortizable
Total non-amortizable	22,620	22,620
Customer relationships
Amortizable
Gross Carrying Amount	910,618	921,418
Accumulated Amortization	$ 220,422	159,215
Customer relationships | Minimum
Amortizable
Useful Lives	3 years
Customer relationships | Maximum
Amortizable
Useful Lives	20 years
Pipeline capacity rights
Amortizable
Useful Lives	30 years
Gross Carrying Amount	$ 119,636	119,636
Accumulated Amortization	$ 5,562	2,571
Water facility development agreement
Amortizable
Useful Lives	5 years
Gross Carrying Amount	$ 14,000	14,000
Accumulated Amortization	7,000	4,900
Executory contracts and other agreements
Amortizable
Gross Carrying Amount	23,920	23,920
Accumulated Amortization	$ 20,471	18,387
Executory contracts and other agreements | Minimum
Amortizable
Useful Lives	2 years
Executory contracts and other agreements | Maximum
Amortizable
Useful Lives	10 years
Non-compete agreements
Amortizable
Gross Carrying Amount	$ 20,253	26,662
Accumulated Amortization	$ 13,152	10,408
Non-compete agreements | Minimum
Amortizable
Useful Lives	2 years
Non-compete agreements | Maximum
Amortizable
Useful Lives	10 years
Customer commitments
Non-Amortizable
Total non-amortizable	$ 310,000	310,000
Trade names
Amortizable
Gross Carrying Amount	15,439	15,439
Accumulated Amortization	$ 11,610	7,569
Trade names | Minimum
Amortizable
Useful Lives	2 years
Trade names | Maximum
Amortizable
Useful Lives	12 years
Debt issuance costs
Amortizable
Gross Carrying Amount	$ 64,849	55,165
Accumulated Amortization	$ 27,674	$ 17,467
Debt issuance costs | Minimum
Amortizable
Useful Lives	1 year
Debt issuance costs | Maximum
Amortizable
Useful Lives	10 years

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Amortization related to intangible assets
Amortization expense	$ 31,087	$ 24,881	$ 85,374	$ 75,635
Future amortization expense of intangible assets
2016 (three months)	26,679		26,679
2,017	103,418		103,418
2,018	99,320		99,320
2,019	89,360		89,360
2,020	81,980		81,980
Thereafter	462,067		462,067
Total	862,824		862,824
Depreciation and amortization
Amortization related to intangible assets
Amortization expense	23,737	20,612	70,065	63,216
Cost of sales
Amortization related to intangible assets
Amortization expense	1,701	1,818	5,102	5,939
Interest expense
Amortization related to intangible assets
Amortization expense	$ 5,649	$ 2,451	$ 10,207	$ 6,480

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Thousands	1 Months Ended	9 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jul. 09, 2014USD ($)	Mar. 31, 2014USD ($)	Oct. 16, 2013USD ($)	Jun. 19, 2012USD ($)
Long-Term Debt
Total debt	$ 3,331,092	$ 3,331,092	$ 2,749,771
Less - current maturities	7,600	7,600	4,472
Long-term debt	3,323,492	3,323,492	2,745,299
Summary of assets and liabilities
Cash and cash equivalents	25,179	25,179	41,303	$ 30,556		$ 10,440
Accounts receivable-trade	581,621	581,621	1,024,226
Accounts receivable - affiliates	3,812	3,812	17,198
Inventories	414,088	414,088	441,762
Prepaid expenses and other current assets	117,476	117,476	120,855
Property, plant and equipment, net	1,972,925	1,972,925	1,617,389
Goodwill	1,522,644	1,522,644	1,402,761
Intangible assets, net	1,242,440	1,242,440	1,288,343
Investments in unconsolidated entities	467,559	467,559	472,673
Other noncurrent assets	106,086	106,086	112,837
Accounts payable - trade	(511,309)	(511,309)	(833,380)
Accounts payable - affiliates	(11,042)	(11,042)	(25,794)
Accrued expenses and other payables	(193,295)	(193,295)	(195,116)
Advance payments received from customers	(73,662)	(73,662)	(54,234)
Long-term debt	(3,323,492)	(3,323,492)	(2,745,299)
Other noncurrent liabilities	(13,232)	(13,232)	(16,086)
TLP
Long-Term Debt
Long-term debt	248,000	248,000
Summary of assets and liabilities
Cash and cash equivalents	681	681
Accounts receivable-trade	5,974	5,974
Accounts receivable - affiliates	515	515
Inventories	1,411	1,411
Prepaid expenses and other current assets	999	999
Property, plant and equipment, net	474,331	474,331
Goodwill	30,169	30,169
Intangible assets, net	60,409	60,409
Investments in unconsolidated entities	254,516	254,516
Other noncurrent assets	674	674
Accounts payable - trade	(7,895)	(7,895)
Accounts payable - affiliates	(153)	(153)
Net intercompany payable	(1,632)	(1,632)
Accrued expenses and other payables	(8,584)	(8,584)
Advance payments received from customers	(151)	(151)
Long-term debt	(248,000)	(248,000)
Other noncurrent liabilities	(2,731)	(2,731)
Net assets	560,533	560,533
TLP | Letters of credit
Long-Term Debt
Outstanding letters of credit	0	0
TLP | Credit Facility
Long-Term Debt
Total debt	248,000	248,000	250,000
Maximum borrowing capacity	400,000	400,000
Outstanding cash borrowings	$ 248,000	$ 248,000
Weighted average interest rate	2.90%	2.90%
Consolidated EBITDA		4.75
TLP | Credit Facility | Minimum
Long-Term Debt
Commitments fees charged on unused capacity (as a percent)		0.375%
Interest coverage ratio		3
TLP | Credit Facility | Maximum
Long-Term Debt
Commitments fees charged on unused capacity (as a percent)		0.50%
Leverage ratio		4.75
Acquisitions that can be made as percentage of consolidated net tangible assets and permitted JV investments		5.00%
Permitted JV investments	$ 125,000	$ 125,000
Leverage ratio, in the event of issuance of senior unsecured notes		3.75
TLP | Credit Facility | Alternate base rate | Minimum
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		1.00%
TLP | Credit Facility | Alternate base rate | Maximum
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		2.00%
TLP | Credit Facility | LIBOR option | Minimum
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		2.00%
TLP | Credit Facility | LIBOR option | Maximum
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		3.00%
Revolving Credit Facility
Long-Term Debt
Maximum borrowing capacity	2,474,000	$ 2,474,000
Increased borrowing capacity with the exercise of accordion feature	$ 150,000	$ 150,000
Actual leverage ratio		4
Actual interest coverage ratio		5.6
Interest rate (as a percent)	2.68%	2.68%
Revolving Credit Facility | Minimum
Long-Term Debt
Commitments fees charged on unused capacity (as a percent)		0.38%
Interest coverage ratio		2.75
Revolving Credit Facility | Maximum
Long-Term Debt
Commitments fees charged on unused capacity (as a percent)		0.50%
Leverage ratio		4.50
Revolving Credit Facility | Alternate base rate | Minimum
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		0.50%
Revolving Credit Facility | Alternate base rate | Maximum
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		1.50%
Revolving Credit Facility | LIBOR option
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		2.25%
Reference rate (as a percent)		0.43%
Revolving Credit Facility | LIBOR option | Minimum
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		1.50%
Revolving Credit Facility | LIBOR option | Maximum
Long-Term Debt
Interest rate margin added to variable rate base (as a percent)		2.50%
Revolving Credit Facility | Expansion Capital Facility
Long-Term Debt
Total debt	$ 1,317,000	$ 1,317,000	702,500
Maximum borrowing capacity	1,436,000	1,436,000
Outstanding cash borrowings	1,317,000	1,317,000
Revolving Credit Facility | Working Capital Facility
Long-Term Debt
Total debt	603,500	603,500	688,000
Maximum borrowing capacity	1,038,000	1,038,000
Outstanding cash borrowings	603,500	603,500
Outstanding letters of credit	$ 117,100	$ 117,100
Revolving Credit Facility | Letters of credit
Long-Term Debt
Fixed interest rate (as a percent)	2.50%	2.50%
5.125% Senior Notes due 2019
Long-Term Debt
Total debt	$ 400,000	$ 400,000	400,000
Fixed interest rate (as a percent)	5.125%	5.125%			5.125%
Debt issued					$ 400,000
6.875% Notes due 2021
Long-Term Debt
Total debt	$ 450,000	$ 450,000	450,000
Fixed interest rate (as a percent)	6.875%	6.875%					6.875%
Debt issued							$ 450,000
6.650% Notes due 2022
Long-Term Debt
Total debt	$ 250,000	$ 250,000	250,000
Fixed interest rate (as a percent)	6.65%	6.65%
2022 Notes
Long-Term Debt
Fixed interest rate (as a percent)								6.65%
Debt issued								$ 250,000
Repayments in semi-annual installments		$ 25,000
Additional interest rate if leverage ratio exceeds 4.25 to 1( as a percent)	0.50%
Leverage ratio in excess of which additional interest is paid (as a percent)	4.25	4.25
2022 Notes | Minimum
Long-Term Debt
Debt covenant terms, default trigger amount		$ 10,000
Percentage of aggregate principal amount held by trustee or holders to declare notes due and payable		51.00%
Other long-term debt
Long-Term Debt
Total debt	$ 62,592	$ 62,592	$ 9,271
Other long-term debt | Minimum
Long-Term Debt
Fixed interest rate (as a percent)	2.06%	2.06%
Other long-term debt | Maximum
Long-Term Debt
Fixed interest rate (as a percent)	8.60%	8.60%

Long-Term Debt - Maturity Sched

Long-Term Debt - Maturity Schedule (Details) $ in Thousands	Dec. 31, 2015USD ($)
Maturities
2016 (three months)	$ 1,016
2,017	7,263
2,018	32,056
2,019	2,225,081
2,020	455,959
Thereafter	609,717
Total long-term debt	3,331,092
TLP | Credit Facility
Maturities
2,019	248,000
Total long-term debt	248,000
Revolving Credit Facility
Maturities
2,019	1,920,500
Total long-term debt	1,920,500
5.125% Senior Notes due 2019
Maturities
2,020	400,000
Total long-term debt	400,000
6.875% Notes due 2021
Maturities
Thereafter	450,000
Total long-term debt	450,000
6.650% Notes due 2022
Maturities
2,018	25,000
2,019	50,000
2,020	50,000
Thereafter	125,000
Total long-term debt	250,000
Other long-term debt
Maturities
2016 (three months)	1,016
2,017	7,263
2,018	7,056
2,019	6,581
2,020	5,959
Thereafter	34,717
Total long-term debt	$ 62,592

Commitments and Contingencies -

Commitments and Contingencies - Environmental Matters (Details) $ in Millions	Dec. 31, 2015USD ($)
Environmental matter
Environmental matters	$ 3.6

Commitments and Contingencies66

Commitments and Contingencies - Asset Retirement Obligations (Details) $ in Millions	Dec. 31, 2015USD ($)
Asset Retirement Obligation
Asset retirement obligations	$ 5

Commitments and Contingencies67

Commitments and Contingencies -Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Future minimum lease payments
2016 (three months)	$ 28,264		$ 28,264
2,017	100,606		100,606
2,018	85,570		85,570
2,019	61,645		61,645
2,020	52,043		52,043
Thereafter	115,311		115,311
Total	443,439		443,439
Rental expense	$ 25,548	$ 36,767	$ 92,623	$ 91,400

Commitments and Contingencies68

Commitments and Contingencies - Pipeline Capacity Agreements (Details) - Pipeline Capacity Agreements $ in Thousands	Dec. 31, 2015USD ($)
Future minimum throughput payments
2016 (three months)	$ 14,156
2,017	56,684
2,018	56,770
2,019	55,978
2,020	46,146
Thereafter	90,972
Total	$ 320,706

Commitments and Contingencies69

Commitments and Contingencies - Sales and Purchase Contracts (Details) gal in Thousands, bbl in Thousands, $ in Thousands	Dec. 31, 2015USD ($)galbbl
Prepaid expenses and other current assets
Sales and purchase contracts for natural gas liquids and crude oil
Net asset (liability)	$ 41,300
Accrued expenses and other payables
Sales and purchase contracts for natural gas liquids and crude oil
Net asset (liability)	$ 30,000
Natural gas liquids
Sales and purchase contracts for natural gas liquids and crude oil
Fixed-price purchase commitments (in gallons/barrels) | gal	25,653
Index-price purchase commitments (in gallons/barrels) | gal	406,147
Fixed-price sale commitments (in gallons/barrels) | gal	146,488
Index-price sale commitments (in gallons/barrels) | gal	267,468
Fixed-price purchase commitments	$ 14,506
Index-price purchase commitments	167,396
Fixed-price sale commitments	102,610
Index-price sale commitments	$ 175,650
Crude oil
Sales and purchase contracts for natural gas liquids and crude oil
Fixed-price purchase commitments (in gallons/barrels) | bbl	1,075
Index-price purchase commitments (in gallons/barrels) | bbl	21,371
Fixed-price sale commitments (in gallons/barrels) | bbl	2,093
Index-price sale commitments (in gallons/barrels) | bbl	21,331
Fixed-price purchase commitments	$ 46,195
Index-price purchase commitments	546,299
Fixed-price sale commitments	95,902
Index-price sale commitments	$ 658,906

Equity - Partnership Equity (De

Equity - Partnership Equity (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Equity
General partner interest (as a percent)	0.10%	0.10%
Limited partner interest (as a percent)	99.90%	99.90%
Common Units
Equity
Common units issued	833,454
Value of common units	$ 19.1

Equity -Common Unit Repurchase

Equity -Common Unit Repurchase Program (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Sep. 10, 2015
Common Unit Repurchase Program
Value of common units repurchased		$ 7,707
Common Units
Common Unit Repurchase Program
Authorized amount under common unit repurchase program			$ 45,000
Number of common units repurchased	398,141
Value of common units repurchased	$ 7,700

Equity - Distribution Policy (D

Equity - Distribution Policy (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		$ 0.337500
Distribution declared per common unit (in dollars per unit)	$ 0.6400
Amount of distribution declared	$ 83.6
Ownership interest (as a percent)		0.10%	0.10%
Distribution received from TLP	$ 4.1
TLP
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		$ 0.40
Distribution declared per common unit (in dollars per unit)	$ 0.670
Amount Paid to Noncontrolling Interest Owners	$ 8.7
First target distribution | Minimum
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.337500
First target distribution | Minimum | TLP
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.40
First target distribution | Maximum
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.388125
First target distribution | Maximum | TLP
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.44
Second target distribution | Minimum
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.388125
Second target distribution | Minimum | TLP
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.44
Second target distribution | Maximum
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.421875
Second target distribution | Maximum | TLP
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.50
Third target distribution | Minimum
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.421875
Third target distribution | Minimum | TLP
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.50
Third target distribution | Maximum
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.506250
Third target distribution | Maximum | TLP
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.60
Thereafter
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		0.506250
Thereafter | TLP
Distributions
Total Quarterly Distribution Per Common Unit (in dollars per unit)		$ 0.60
Limited Partner
Distributions
Marginal Percentage Interest In Distributions		99.90%
Limited Partner | TLP
Distributions
Marginal Percentage Interest In Distributions		98.00%
Limited Partner | First target distribution
Distributions
Marginal Percentage Interest In Distributions		99.90%
Limited Partner | First target distribution | TLP
Distributions
Marginal Percentage Interest In Distributions		98.00%
Limited Partner | Second target distribution
Distributions
Marginal Percentage Interest In Distributions		86.90%
Limited Partner | Second target distribution | TLP
Distributions
Marginal Percentage Interest In Distributions		85.00%
Limited Partner | Third target distribution
Distributions
Marginal Percentage Interest In Distributions		76.90%
Limited Partner | Third target distribution | TLP
Distributions
Marginal Percentage Interest In Distributions		75.00%
Limited Partner | Thereafter
Distributions
Marginal Percentage Interest In Distributions		51.90%
Limited Partner | Thereafter | TLP
Distributions
Marginal Percentage Interest In Distributions		50.00%
General Partner
Distributions
Marginal Percentage Interest In Distributions		0.10%
General Partner | TLP
Distributions
Marginal Percentage Interest In Distributions		2.00%
Ownership interest (as a percent)		2.00%
General Partner | First target distribution
Distributions
Marginal Percentage Interest In Distributions		0.10%
General Partner | First target distribution | TLP
Distributions
Marginal Percentage Interest In Distributions		2.00%
General Partner | Second target distribution
Distributions
Marginal Percentage Interest In Distributions		13.10%
General Partner | Second target distribution | TLP
Distributions
Marginal Percentage Interest In Distributions		15.00%
General Partner | Third target distribution
Distributions
Marginal Percentage Interest In Distributions		23.10%
General Partner | Third target distribution | TLP
Distributions
Marginal Percentage Interest In Distributions		25.00%
General Partner | Thereafter
Distributions
Marginal Percentage Interest In Distributions		48.10%
General Partner | Thereafter | TLP
Distributions
Marginal Percentage Interest In Distributions		50.00%

Equity - Service Award Activity

Equity - Service Award Activity (Details) $ in Millions	9 Months Ended
	Dec. 31, 2015USD ($)shares
Restricted units
Equity-Based Incentive Compensation
Distributions on restricted units during the vesting period | $	$ 0
Service awards
Award activity
Unvested restricted units at the beginning of the period (in units)	2,260,400
Units granted (in units)	787,562
Units vested and issued (in units)	(833,029)
Units withheld for employee taxes (in units)	(455,651)
Units forfeited (in units)	(91,000)
Unvested restricted units at the end of the period (in units)	1,668,282

Equity - Service Awards Vesting

Equity - Service Awards Vesting Schedule (Details) - Service awards - shares	9 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Equity-Based Incentive Compensation
Number of units scheduled to vest	833,029
Unvested units at reporting date (in units)	1,668,282	2,260,400
2016 (three months)
Equity-Based Incentive Compensation
Number of units scheduled to vest	20,000
2,017
Equity-Based Incentive Compensation
Number of units scheduled to vest	807,141
2,018
Equity-Based Incentive Compensation
Number of units scheduled to vest	734,141
Thereafter
Equity-Based Incentive Compensation
Number of units scheduled to vest	107,000

Equity - Service Awards Expense

Equity - Service Awards Expense (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Service awards
Equity-Based Incentive Compensation
Expense recorded	$ 403	$ 1,600	$ 33,765	$ 23,300
Units granted (in units)			787,562
Estimated forfeiture of unvested awards	164,000		164,000
Closing price (in dollars per unit)	$ 11.04		$ 11.04
Estimated equity-based compensation expense
2016 (three months)			$ 2,413
2,017			7,634
2,018			2,435
Thereafter			588
Total			13,070
Restricted unit bonus awards
Equity-Based Incentive Compensation
Expense recorded	$ 11,800		11,800		$ 10,000
Additional share-based compensation expense			$ 1,800
Units granted (in units)					465,239

Equity - Service Awards Liabili

Equity - Service Awards Liability (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Rollforward of the liability related to equity-based compensation
Taxes paid on behalf of participants			$ (19,303)
Service awards
Rollforward of the liability related to equity-based compensation
Balance at the beginning of the period			6,154
Expense recorded	$ 403	$ 1,600	33,765	$ 23,300
Value of units vested and issued			(23,502)
Taxes paid on behalf of participants			(12,883)
Balance at the end of the period	$ 3,534		$ 3,534
Other disclosures
Weighted-average grant date fair value of the awards (in dollars per unit)	$ 8.24		$ 8.24

Equity - Performance Awards (De

Equity - Performance Awards (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	Apr. 30, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2015
Equity-Based Incentive Compensation
Value of common units withheld for employee taxes					$ 19,303
Rollforward of the liability related to equity-based compensation
Taxes paid on behalf of participants					$ (19,303)
Other disclosures
Maximum number of common units that may be delivered under the LTIP as a percentage of issued and outstanding common units					10.00%
Incremental amount that the maximum common units deliverable may automatically increase under the LTIP, expressed as a percentage of issued and outstanding common units					10.00%
Number of common units available for issuance under the LTIP		5,300,000			5,300,000
Performance awards
Equity-Based Incentive Compensation
Value of common units withheld for employee taxes					$ 6,420
Estimated equity-based compensation expense
2016 (three months)					84
2,017					180
2,018					32
Total					296
Rollforward of the liability related to equity-based compensation
Expense recorded					16,315
Value of units vested and issued					(9,658)
Taxes paid on behalf of participants					(6,420)
Balance at the end of the period		$ 237			$ 237
Performance awards | Less than 50%
Equity-Based Incentive Compensation
Percentage of entities outperformed, upper limit					50.00%
Percentage of awards to vest					0.00%
Performance awards | 50%-75%
Equity-Based Incentive Compensation
Percentage of entities outperformed, lower limit					50.00%
Percentage of entities outperformed, upper limit					75.00%
Performance awards | 50%-75% | Minimum
Equity-Based Incentive Compensation
Percentage of awards to vest					25.00%
Performance awards | 50%-75% | Maximum
Equity-Based Incentive Compensation
Percentage of awards to vest					50.00%
Performance awards | 75%-90%
Equity-Based Incentive Compensation
Percentage of entities outperformed, lower limit					75.00%
Percentage of entities outperformed, upper limit					90.00%
Performance awards | 75%-90% | Minimum
Equity-Based Incentive Compensation
Percentage of awards to vest					50.00%
Performance awards | 75%-90% | Maximum
Equity-Based Incentive Compensation
Percentage of awards to vest					100.00%
Performance awards | Greater than 90%
Equity-Based Incentive Compensation
Percentage of entities outperformed, lower limit					90.00%
Percentage of awards to vest					100.00%
Performance awards | July 1, 2016
Equity-Based Incentive Compensation
Fair value of unvested awards		266			$ 266
Rollforward of the liability related to equity-based compensation
Expense recorded				$ 1,720	148
Benefit recorded		(1,352)	$ (220)
Performance awards | July 1, 2017
Equity-Based Incentive Compensation
Fair value of unvested awards		303			303
Rollforward of the liability related to equity-based compensation
Expense recorded				602	$ 89
Benefit recorded		(453)	(60)
Performance awards | July 1, 2015 to July 1, 2017
Equity-Based Incentive Compensation
Percentage of awards to vest					76.00%
Fair value of unvested awards		569			$ 569
Rollforward of the liability related to equity-based compensation
Expense recorded			329	17,791	$ 16,315
Benefit recorded		$ (1,805)
Performance awards | July 1, 2015
Equity-Based Incentive Compensation
Maximum award units					530,564
Percentage of entities in the Index that NGL outperforms					83.00%
Number of common units withheld for employee taxes					210,137
Value of common units withheld for employee taxes					$ 6,400
Common units issued during period (in units)					320,427
Common units issued during period					$ 9,700
Rollforward of the liability related to equity-based compensation
Expense recorded			$ 609	$ 15,469	16,078
Taxes paid on behalf of participants					$ (6,400)
Performance awards | April 2015 | July 1, 2016
Equity-Based Incentive Compensation
Maximum award units	665,382
Performance awards | April 2015 | July 1, 2017
Equity-Based Incentive Compensation
Maximum award units	657,382
Performance awards | April 2015 | July 1, 2016 to July 1, 2017
Equity-Based Incentive Compensation
Maximum award units	1,322,764

Fair Value of Financial Instr78

Fair Value of Financial Instruments - Fair Value of Commodity Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Prepaid expenses and other current assets
Derivative assets (liabilities)
Net asset	$ 41,300
Accrued expenses and other payables
Derivative assets (liabilities)
Net asset	30,000
Commodity contracts
Assets:
Derivative Assets	110,708	$ 118,742
Netting of counterparty contracts, assets	(1,215)	(1,804)
Net cash collateral provided (held)	(41,573)	(56,660)
Commodity derivatives in condensed consolidated balance sheet, assets	67,920	60,278
Liabilities:
Derivative Liabilities	(34,163)	(32,733)
Netting of counterparty contracts, liabilities	1,215	1,804
Cash collateral provided (held)	2,209	2,979
Commodity derivatives in condensed consolidated balance sheet, liabilities	(30,739)	(27,950)
Derivative assets (liabilities)
Net asset	37,181	32,328
Commodity contracts | Prepaid expenses and other current assets
Derivative assets (liabilities)
Net asset	67,920	60,278
Commodity contracts | Accrued expenses and other payables
Derivative assets (liabilities)
Net asset	(30,739)	(27,950)
Level 1 | Commodity contracts
Assets:
Derivative Assets	65,865	83,779
Liabilities:
Derivative Liabilities	(2,965)	(3,969)
Level 2 | Commodity contracts
Assets:
Derivative Assets	44,843	34,963
Liabilities:
Derivative Liabilities	$ (31,198)	$ (28,764)

Fair Value of Financial Instr79

Fair Value of Financial Instruments - Derivative Contract Positions (Details) item in Thousands, $ in Thousands	Dec. 31, 2015USD ($)item	Mar. 31, 2015USD ($)item
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ 76,545	$ 86,009
Net cash collateral (held) provided	(39,364)	(53,681)
Net commodity derivatives in condensed consolidated balance sheet	37,181	32,328
Cross-commodity
Derivative contract information
Fair Value of Net Assets (Liabilities)	1,684	(105)
Crude oil fixed-price
Derivative contract information
Fair Value of Net Assets (Liabilities)	3,603	(171)
Crude oil index-price
Derivative contract information
Fair Value of Net Assets (Liabilities)		1,835
Propane fixed-price
Derivative contract information
Fair Value of Net Assets (Liabilities)	(2,265)	(2,842)
Refined products fixed-price
Derivative contract information
Fair Value of Net Assets (Liabilities)	69,448	84,996
Other.
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ 4,075	$ 2,296
Long | Cross-commodity
Derivative contract information
Total Notional Units (Barrels) | item	284	98
Long | Crude oil index-price
Derivative contract information
Total Notional Units (Barrels) | item		751
Long | Propane fixed-price
Derivative contract information
Total Notional Units (Barrels) | item	425	193
Short | Crude oil fixed-price
Derivative contract information
Total Notional Units (Barrels) | item	1,048	1,113
Short | Refined products fixed-price
Derivative contract information
Total Notional Units (Barrels) | item	6,520	3,005
Short | Other.
Derivative contract information
Total Notional Units (Barrels) | item	220

Fair Value of Financial Instr80

Fair Value of Financial Instruments - Gains From Commodity Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Fair Value of Financial Instruments
Net gains on derivatives	$ 52,535	$ 202,496	$ 97,069	$ 240,992

Fair Value of Financial Instr81

Fair Value of Financial Instruments - Interest Rate Risk (Details) $ in Millions	Dec. 31, 2015USD ($)
TLP | Credit Facility
Interest Rate Risk
Outstanding debt	$ 248
Revolving Credit Facility
Interest Rate Risk
Interest rate (as a percent)	2.68%
Interest Rate Risk | TLP | Credit Facility
Interest Rate Risk
Outstanding debt	$ 248
Interest rate (as a percent)	2.72%
Interest Rate Risk | Revolving Credit Facility
Interest Rate Risk
Outstanding debt	$ 1,920
Interest rate (as a percent)	2.68%

Fair Value of Financial Instr82

Fair Value of Financial Instruments - Fair Value of Fixed-Rate Notes (Details) $ in Thousands	Dec. 31, 2015USD ($)
5.125% Senior Notes due 2019
Fair Value of Fixed - Rate Notes
Fair value of Fixed - Rate Notes	$ 328,000
6.875% Notes due 2021
Fair Value of Fixed - Rate Notes
Fair value of Fixed - Rate Notes	337,500
6.650% Notes due 2022
Fair Value of Fixed - Rate Notes
Fair value of Fixed - Rate Notes	$ 200,500

Segments (Details)

Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Mar. 31, 2015USD ($)
Segment information
Revenue	$ 2,685,006	$ 4,552,146	$ 9,416,670	$ 13,581,286
Depreciation and amortization	59,180	50,335	175,772	139,809
Operating income (loss)	61,180	18,079	46,697	5,294
Additions to property, plant and equipment	302,242	120,793	606,444	781,302
Long-lived assets, net	4,738,009		4,738,009		$ 4,308,493
Total assets	6,564,471		6,564,471		6,547,501
Crude oil logistics
Segment information
Depreciation and amortization	10,041	10,630	30,096	29,601
Operating income (loss)	804	(26,814)	12,689	(25,313)
Additions to property, plant and equipment	214,114	16,517	321,137	97,930
Long-lived assets, net	1,524,723		1,524,723		1,327,538
Total assets	2,198,205		2,198,205		2,337,188
Water solutions
Segment information
Depreciation and amortization	23,644	17,807	66,906	52,472
Operating income (loss)	(5,778)	34,505	(8,645)	48,390
Additions to property, plant and equipment	55,517	69,137	172,537	117,209
Long-lived assets, net	1,323,828		1,323,828		1,119,794
Total assets	1,413,274		1,413,274		1,185,929
Liquids
Segment information
Depreciation and amortization	3,537	2,838	11,286	9,423
Operating income (loss)	32,921	(14,048)	52,820	(4,032)
Additions to property, plant and equipment	5,824	1,096	41,888	4,166
Long-lived assets, net	564,783		564,783		534,560
Total assets	761,916		$ 761,916		713,547
Retail propane
Segment information
Number of operating divisions | item			2
Depreciation and amortization	9,096	7,949	$ 26,711	23,204
Operating income (loss)	14,450	21,477	11,985	16,829
Additions to property, plant and equipment	9,716	12,097	29,359	24,508
Long-lived assets, net	479,240		479,240		467,652
Total assets	540,268		540,268		542,476
Refined products and renewables
Segment information
Depreciation and amortization	11,493	9,788	36,820	22,549
Operating income (loss)	31,702	28,958	59,478	36,525
Additions to property, plant and equipment	5,416	21,330	28,699	533,611
Long-lived assets, net	787,798		787,798		808,757
Total assets	1,512,911		1,512,911		1,668,836
Corporate and other
Segment information
Depreciation and amortization	1,369	1,323	3,953	2,560
Operating income (loss)	(12,919)	(25,999)	(81,630)	(67,105)
Additions to property, plant and equipment	11,655	616	12,824	3,878
Long-lived assets, net	57,637		57,637		50,192
Total assets	137,897		137,897		$ 99,525
Operating segment | Crude oil logistics | Crude oil
Segment information
Revenue	508,863	1,689,106	2,818,752	5,727,779
Operating segment | Crude oil logistics | Crude oil transportation and other
Segment information
Revenue	12,423	12,143	44,118	33,727
Operating segment | Water solutions | Service fees
Segment information
Revenue	35,138	30,870	107,079	72,809
Operating segment | Water solutions | Recovered hydrocarbons
Segment information
Revenue	8,414	19,355	34,978	66,704
Operating segment | Water solutions | Water transportation
Segment information
Revenue		16		10,761
Operating segment | Water solutions | Other revenues
Segment information
Revenue	1,886		5,168
Operating segment | Liquids | Propane sales
Segment information
Revenue	188,930	396,248	393,442	859,984
Operating segment | Liquids | Other product sales
Segment information
Revenue	180,620	329,943	488,967	925,018
Operating segment | Liquids | Other revenues
Segment information
Revenue	8,161	8,674	27,531	20,256
Operating segment | Retail propane | Propane sales
Segment information
Revenue	68,880	99,859	148,184	200,437
Operating segment | Retail propane | Distillate sales
Segment information
Revenue	19,133	29,102	39,758	59,327
Operating segment | Retail propane | Other revenues
Segment information
Revenue	12,132	10,804	29,856	26,261
Operating segment | Refined products and renewables | Service fees
Segment information
Revenue	32,381	25,993	89,193	49,999
Operating segment | Refined products and renewables | Refined products sales
Segment information
Revenue	1,532,928	1,831,243	4,946,136	5,283,855
Operating segment | Refined products and renewables | Renewables sales
Segment information
Revenue	101,414	126,212	300,756	374,911
Operating segment | Corporate and other
Segment information
Revenue		(1,281)		1,513
Elimination of intersegment sales
Segment information
Revenue	$ (26,297)	$ (56,741)	$ (57,248)	$ (132,055)

Transactions with Affiliates (D

Transactions with Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Transactions with Affiliates
Accounts receivable from affiliates	$ 3,812		$ 3,812		$ 17,198
Accounts payable to affiliates	11,042		11,042		25,794
Loan receivable	23,258		23,258		8,154
SemGroup
Transactions with Affiliates
Sales to related party	67	$ 21,781	42,098	$ 85,364
Purchases from related party	5,052	31,247	50,355	116,931
Accounts receivable from affiliates	3,091		3,091		13,443
Accounts payable to affiliates	5,101		5,101		11,546
Equity method investees
Transactions with Affiliates
Sales to related party	1,676	2,382	4,762	11,512
Purchases from related party	27,153	44,580	82,917	115,546
Accounts receivable from affiliates	693		693		652
Accounts payable to affiliates	3,453		3,453		6,788
Loan receivable	23,300		23,300
Loan payment received from investee	500
Entities affiliated with management
Transactions with Affiliates
Increase in property, plant and equipment			29,500
Sales to related party	91	186	289	2,040
Purchases from related party	6,709	$ 10,446	30,103	$ 17,430
Accounts receivable from affiliates	28		28		3,103
Accounts payable to affiliates	$ 2,488		$ 2,488		$ 7,460

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent event - USD ($) $ in Millions	Feb. 01, 2016	Jan. 07, 2016
Water Pipeline Company
Subsequent events
Cash paid		$ 12.3
Ownership interest acquired (as a percent)		57.125%
General Partner | TLP
Subsequent events
Proceeds from sale of interest	$ 350
Common Units | TLP
Subsequent events
Maximum number of shares granted to ArcLight to purchase in the future	800,000
Number of shares retained	3,200,000

Condensed Consolidating Guara86

Condensed Consolidating Guarantor and Non-Guarantor Financial Information - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 25,179	$ 41,303	$ 30,556	$ 10,440
Accounts receivable - trade, net of allowance for doubtful accounts	581,621	1,024,226
Accounts receivable - affiliates	3,812	17,198
Inventories	414,088	441,762
Prepaid expenses and other current assets	117,476	120,855
Assets held for sale	87,383
Total current assets	1,229,559	1,645,344
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	1,972,925	1,617,389
GOODWILL	1,522,644	1,402,761
INTANGIBLE ASSETS, net of accumulated amortization	1,242,440	1,288,343
INVESTMENTS IN UNCONSOLIDATED ENTITIES	467,559	472,673
LOAN RECEIVABLE-AFFILIATE	23,258	8,154
OTHER NONCURRENT ASSETS	106,086	112,837
Total assets	6,564,471	6,547,501
CURRENT LIABILITIES:
Accounts payable - trade	511,309	833,380
Accounts payable - affiliates	11,042	25,794
Accrued expenses and other payables	193,295	195,116
Advance payments received from customers	73,662	54,234
Current maturities of long-term debt	7,600	4,472
Total current liabilities	796,908	1,112,996
LONG-TERM DEBT, net of current maturities	3,323,492	2,745,299
OTHER NONCURRENT LIABILITIES	13,232	16,086
EQUITY :
Partners' equity	1,886,097	2,125,903
Accumulated other comprehensive loss	(148)	(109)
Noncontrolling interests	544,890	547,326
Total equity	2,430,839	2,673,120
Total liabilities and equity	6,564,471	6,547,501
Reportable Entity | NGL Energy Partners LP (Parent)
CURRENT ASSETS:
Cash and cash equivalents	21,430	29,115	3,287	1,181
Accounts receivable - affiliates		5
Total current assets	21,430	29,120
INTANGIBLE ASSETS, net of accumulated amortization	17,428	17,834
NET INTERCOMPANY RECEIVABLES (PAYABLES)	1,470,296	1,363,792
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	1,493,420	1,834,738
Total assets	3,002,574	3,245,484
CURRENT LIABILITIES:
Accounts payable - affiliates	1
Accrued expenses and other payables	16,624	19,690
Total current liabilities	16,625	19,690
LONG-TERM DEBT, net of current maturities	1,100,000	1,100,000
EQUITY :
Partners' equity	1,885,949	2,125,794
Total equity	1,885,949	2,125,794
Total liabilities and equity	3,002,574	3,245,484
Reportable Entity | Guarantor Subsidiaries
CURRENT ASSETS:
Cash and cash equivalents	2,249	9,757	23,573	8,728
Accounts receivable - trade, net of allowance for doubtful accounts	569,304	1,007,001
Accounts receivable - affiliates	3,297	16,610
Inventories	411,981	440,026
Prepaid expenses and other current assets	115,673	104,528
Assets held for sale	87,383
Total current assets	1,189,887	1,577,922
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	1,415,391	1,093,018
GOODWILL	1,490,283	1,372,690
INTANGIBLE ASSETS, net of accumulated amortization	1,161,941	1,195,896
INVESTMENTS IN UNCONSOLIDATED ENTITIES	213,043	217,600
NET INTERCOMPANY RECEIVABLES (PAYABLES)	(1,454,047)	(1,319,724)
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	83,048	56,690
LOAN RECEIVABLE-AFFILIATE	23,258	8,154
OTHER NONCURRENT ASSETS	104,942	110,120
Total assets	4,227,746	4,312,366
CURRENT LIABILITIES:
Accounts payable - trade	498,378	820,441
Accounts payable - affiliates	10,888	25,690
Accrued expenses and other payables	167,131	165,819
Advance payments received from customers	72,786	53,903
Current maturities of long-term debt	6,804	4,413
Total current liabilities	755,987	1,070,266
LONG-TERM DEBT, net of current maturities	1,968,302	1,395,100
OTHER NONCURRENT LIABILITIES	10,037	12,262
EQUITY :
Partners' equity	1,493,420	1,834,738
Total equity	1,493,420	1,834,738
Total liabilities and equity	4,227,746	4,312,366
Reportable Entity | Non-Guarantor Subsidiaries
CURRENT ASSETS:
Cash and cash equivalents	1,500	2,431	$ 3,696	$ 531
Accounts receivable - trade, net of allowance for doubtful accounts	12,317	17,225
Accounts receivable - affiliates	515	583
Inventories	2,107	1,736
Prepaid expenses and other current assets	1,803	16,327
Total current assets	18,242	38,302
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	557,534	524,371
GOODWILL	32,361	30,071
INTANGIBLE ASSETS, net of accumulated amortization	63,071	74,613
INVESTMENTS IN UNCONSOLIDATED ENTITIES	254,516	255,073
NET INTERCOMPANY RECEIVABLES (PAYABLES)	(16,249)	(44,068)
OTHER NONCURRENT ASSETS	1,144	2,717
Total assets	910,619	881,079
CURRENT LIABILITIES:
Accounts payable - trade	12,931	12,939
Accounts payable - affiliates	153	104
Accrued expenses and other payables	9,540	9,607
Advance payments received from customers	876	331
Current maturities of long-term debt	796	59
Total current liabilities	24,296	23,040
LONG-TERM DEBT, net of current maturities	255,190	250,199
OTHER NONCURRENT LIABILITIES	3,195	3,824
EQUITY :
Partners' equity	628,086	604,125
Accumulated other comprehensive loss	(148)	(109)
Total equity	627,938	604,016
Total liabilities and equity	910,619	881,079
Consolidating Adjustments
CURRENT ASSETS:
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	(1,576,468)	(1,891,428)
Total assets	(1,576,468)	(1,891,428)
EQUITY :
Partners' equity	(2,121,358)	(2,438,754)
Noncontrolling interests	544,890	547,326
Total equity	(1,576,468)	(1,891,428)
Total liabilities and equity	$ (1,576,468)	$ (1,891,428)

Condensed Consolidating Guara87

Condensed Consolidating Guarantor and Non-Guarantor Financial Information - Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Condensed Consolidating Statement of Operations
REVENUES	$ 2,685,006	$ 4,552,146	$ 9,416,670	$ 13,581,286
COST OF SALES	2,433,500	4,311,668	8,761,877	13,025,186
OPERATING COSTS AND EXPENSES:
Operating	106,783	97,761	314,470	262,616
General and administrative	23,035	44,230	114,814	113,742
Depreciation and amortization	59,180	50,335	175,772	139,809
Loss (gain) on disposal or impairment of assets, net	1,328	30,073	3,040	34,639
Operating Income	61,180	18,079	46,697	5,294
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated entities	2,858	1,242	14,008	7,504
Interest expense	(36,176)	(30,051)	(98,549)	(79,196)
Other income, net	2,161	3,371	2,941	2,363
Income (loss) before income taxes	30,023	(7,359)	(34,903)	(64,035)
INCOME TAX (EXPENSE) BENEFIT	(402)	2,090	1,846	2,977
Net Income (Loss)	29,621	(5,269)	(33,057)	(61,058)
LESS: NET INCOME ALLOCATED TO GENERAL PARTNER	(16,217)	(11,783)	(47,742)	(32,220)
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(6,140)	(5,649)	(12,906)	(9,059)
NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS	7,264	(22,701)	(93,705)	(102,337)
Reportable Entity | NGL Energy Partners LP (Parent)
OTHER INCOME (EXPENSE):
Interest expense	(17,830)	(18,067)	(53,544)	(47,660)
Income (loss) before income taxes	(17,830)	(18,067)	(53,544)	(47,660)
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	41,311	7,149	7,581	(22,457)
Net Income (Loss)	23,481	(10,918)	(45,963)	(70,117)
NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS	23,481	(10,918)	(45,963)	(70,117)
Reportable Entity | Guarantor Subsidiaries
Condensed Consolidating Statement of Operations
REVENUES	2,639,958	4,519,060	9,290,209	13,471,832
COST OF SALES	2,436,088	4,322,892	8,769,526	12,999,773
OPERATING COSTS AND EXPENSES:
Operating	84,823	76,599	249,613	222,744
General and administrative	17,814	38,233	99,022	102,357
Depreciation and amortization	46,663	43,064	137,208	120,609
Loss (gain) on disposal or impairment of assets, net	1,484	179	3,199	4,953
Operating Income	53,086	38,093	31,641	21,396
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated entities	412	4	3,284	4,879
Interest expense	(16,768)	(10,108)	(39,112)	(28,166)
Other income, net	2,141	3,314	2,832	2,258
Income (loss) before income taxes	38,871	31,303	(1,355)	367
INCOME TAX (EXPENSE) BENEFIT	(371)	2,117	1,915	3,110
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	2,811	(26,271)	7,021	(25,934)
Net Income (Loss)	41,311	7,149	7,581	(22,457)
NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS	41,311	7,149	7,581	(22,457)
Reportable Entity | Non-Guarantor Subsidiaries
Condensed Consolidating Statement of Operations
REVENUES	54,756	58,058	155,377	134,479
COST OF SALES	7,065	13,748	21,087	50,438
OPERATING COSTS AND EXPENSES:
Operating	22,015	21,162	65,037	39,872
General and administrative	5,221	5,997	15,792	11,385
Depreciation and amortization	12,517	7,271	38,564	19,200
Loss (gain) on disposal or impairment of assets, net	(156)	29,894	(159)	29,686
Operating Income	8,094	(20,014)	15,056	(16,102)
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated entities	2,446	1,238	10,724	2,625
Interest expense	(1,662)	(1,887)	(6,125)	(3,404)
Other income, net	104	68	341	139
Income (loss) before income taxes	8,982	(20,595)	19,996	(16,742)
INCOME TAX (EXPENSE) BENEFIT	(31)	(27)	(69)	(133)
Net Income (Loss)	8,951	(20,622)	19,927	(16,875)
NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS	8,951	(20,622)	19,927	(16,875)
Consolidating Adjustments
Condensed Consolidating Statement of Operations
REVENUES	(9,708)	(24,972)	(28,916)	(25,025)
COST OF SALES	(9,653)	(24,972)	(28,736)	(25,025)
OPERATING COSTS AND EXPENSES:
Operating	(55)		(180)
OTHER INCOME (EXPENSE):
Interest expense	84	11	232	34
Other income, net	(84)	(11)	(232)	(34)
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	(44,122)	19,122	(14,602)	48,391
Net Income (Loss)	(44,122)	19,122	(14,602)	48,391
LESS: NET INCOME ALLOCATED TO GENERAL PARTNER	(16,217)	(11,783)	(47,742)	(32,220)
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(6,140)	(5,649)	(12,906)	(9,059)
NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS	$ (66,479)	$ 1,690	$ (75,250)	$ 7,112

Condensed Consolidating Guara88

Condensed Consolidating Guarantor and Non-Guarantor Financial Information - Condensed Consolidating Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	$ 29,621	$ (5,269)	$ (33,057)	$ (61,058)
Other comprehensive income (loss)	(12)	(16)	(39)	147
Comprehensive income (loss)	29,609	(5,285)	(33,096)	(60,911)
Reportable Entity | NGL Energy Partners LP (Parent)
Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	23,481	(10,918)	(45,963)	(70,117)
Comprehensive income (loss)	23,481	(10,918)	(45,963)	(70,117)
Reportable Entity | Guarantor Subsidiaries
Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	41,311	7,149	7,581	(22,457)
Other comprehensive income (loss)				189
Comprehensive income (loss)	41,311	7,149	7,581	(22,268)
Reportable Entity | Non-Guarantor Subsidiaries
Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	8,951	(20,622)	19,927	(16,875)
Other comprehensive income (loss)	(12)	(16)	(39)	(42)
Comprehensive income (loss)	8,939	(20,638)	19,888	(16,917)
Consolidating Adjustments
Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	(44,122)	19,122	(14,602)	48,391
Comprehensive income (loss)	$ (44,122)	$ 19,122	$ (14,602)	$ 48,391

Condensed Consolidating Guara89

Condensed Consolidating Guarantor and Non-Guarantor Financial Information - Condensed Consolidating Statements Of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$ 293,134	$ 81,840
INVESTING ACTIVITIES:
Purchases of long-lived assets	(497,147)	(135,435)
Acquisitions of businesses, including acquired working capital, net of cash acquired	(187,356)	(1,114,045)
Cash flows from commodity derivatives	92,216	190,455
Proceeds from sales of assets	4,981	15,236
Investments in unconsolidated entities	(8,373)	(33,528)
Distributions of capital from unconsolidated entities	14,043	8,736
Loan for natural gas liquids facility	(3,913)	(45,855)
Payment on loan for natural gas liquids facility	5,552
Loan to affiliate	(15,621)
Payments on loan to affiliate	517
Other		(66)
Net cash used in investing activities	(595,101)	(1,114,502)
FINANCING ACTIVITIES:
Proceeds from borrowings under revolving credit facilities	2,042,100	3,096,700
Payments on revolving credit facilities	(1,514,100)	(2,604,700)
Proceeds from borrowings under other long-term debt	53,223
Payments on other long-term debt	(3,649)	(5,476)
Debt issuance costs	(9,684)	(10,826)
Contributions from general partner	54	408
Contributions from noncontrolling interest owners	10,037
Distribution to partners	(238,414)	(176,051)
Distributions to noncontrolling interest owners	(26,638)	(17,497)
Taxes paid on behalf of equity incentive plan participants	(19,303)
Common unit repurchases	(7,707)
Proceeds from sale of common units, net of offering costs		370,376
Other	(76)	(156)
Issuance of notes		400,000
Net cash provided by financing activities	285,843	1,052,778
Net increase (decrease) in cash and cash equivalents	(16,124)	20,116
Cash and cash equivalents, beginning of period	41,303	10,440
Cash and cash equivalents, end of period	25,179	30,556
Reportable Entity | NGL Energy Partners LP (Parent)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	(52,989)	(43,114)
INVESTING ACTIVITIES:
Acquisitions of businesses, including acquired working capital, net of cash acquired	(624)
Net cash used in investing activities	(624)
FINANCING ACTIVITIES:
Debt issuance costs	(3,209)	(8,003)
Contributions from general partner	54	408
Distribution to partners	(238,414)	(176,051)
Common unit repurchases	(7,707)
Proceeds from sale of common units, net of offering costs		370,376
Net changes in advances with consolidated entities	295,204	(541,510)
Issuance of notes		400,000
Net cash provided by financing activities	45,928	45,220
Net increase (decrease) in cash and cash equivalents	(7,685)	2,106
Cash and cash equivalents, beginning of period	29,115	1,181
Cash and cash equivalents, end of period	21,430	3,287
Reportable Entity | Guarantor Subsidiaries
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	276,244	86,074
INVESTING ACTIVITIES:
Purchases of long-lived assets	(439,476)	(130,522)
Acquisitions of businesses, including acquired working capital, net of cash acquired	(184,852)	(1,108,646)
Cash flows from commodity derivatives	92,216	190,455
Proceeds from sales of assets	4,979	1,230
Investments in unconsolidated entities	(3,647)	(13,244)
Distributions of capital from unconsolidated entities	8,761	3,396
Loan for natural gas liquids facility	(3,913)	(45,855)
Payment on loan for natural gas liquids facility	5,552
Loan to affiliate	(15,621)
Payments on loan to affiliate	517
Net cash used in investing activities	(535,484)	(1,103,186)
FINANCING ACTIVITIES:
Proceeds from borrowings under revolving credit facilities	1,961,000	3,016,000
Payments on revolving credit facilities	(1,431,000)	(2,542,000)
Proceeds from borrowings under other long-term debt	45,873
Payments on other long-term debt	(3,579)	(5,454)
Debt issuance costs	(5,226)	(2,823)
Taxes paid on behalf of equity incentive plan participants	(19,303)
Net changes in advances with consolidated entities	(295,999)	566,390
Other	(34)	(156)
Net cash provided by financing activities	251,732	1,031,957
Net increase (decrease) in cash and cash equivalents	(7,508)	14,845
Cash and cash equivalents, beginning of period	9,757	8,728
Cash and cash equivalents, end of period	2,249	23,573
Reportable Entity | Non-Guarantor Subsidiaries
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	69,879	38,880
INVESTING ACTIVITIES:
Purchases of long-lived assets	(57,671)	(4,913)
Acquisitions of businesses, including acquired working capital, net of cash acquired	(1,880)	(5,399)
Proceeds from sales of assets	2	14,006
Investments in unconsolidated entities	(4,726)	(20,284)
Distributions of capital from unconsolidated entities	5,282	5,340
Other		(66)
Net cash used in investing activities	(58,993)	(11,316)
FINANCING ACTIVITIES:
Proceeds from borrowings under revolving credit facilities	81,100	80,700
Payments on revolving credit facilities	(83,100)	(62,700)
Proceeds from borrowings under other long-term debt	7,350
Payments on other long-term debt	(70)	(22)
Debt issuance costs	(1,249)
Contributions from noncontrolling interest owners	10,037
Distributions to noncontrolling interest owners	(26,638)	(17,497)
Net changes in advances with consolidated entities	795	(24,880)
Other	(42)
Net cash provided by financing activities	(11,817)	(24,399)
Net increase (decrease) in cash and cash equivalents	(931)	3,165
Cash and cash equivalents, beginning of period	2,431	531
Cash and cash equivalents, end of period	$ 1,500	$ 3,696