NGL Energy Partners (NGL) 10-Q 9 Feb 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2017	Feb. 05, 2018
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, 2017
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		121,083,664
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 28,469	$ 12,264
Accounts receivable-trade, net of allowance for doubtful accounts of $5,561 and $5,234, respectively	1,063,907	800,607
Accounts receivable-affiliates	3,517	6,711
Inventories	645,100	561,432
Prepaid expenses and other current assets	97,395	103,193
Assets held for sale	131,591	0
Total current assets	1,969,979	1,484,207
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $420,174 and $375,594, respectively	1,708,683	1,790,273
GOODWILL	1,313,317	1,451,716
INTANGIBLE ASSETS, net of accumulated amortization of $455,532 and $414,605, respectively	1,064,955	1,163,956
INVESTMENTS IN UNCONSOLIDATED ENTITIES	16,369	187,423
LOAN RECEIVABLE-AFFILIATE	318	3,200
OTHER NONCURRENT ASSETS	242,765	239,604
Total assets	6,316,386	6,320,379
CURRENT LIABILITIES:
Accounts payable-trade	866,768	658,021
Accounts payable-affiliates	474	7,918
Accrued expenses and other payables	230,752	207,125
Advance payments received from customers	46,850	35,944
Current maturities of long-term debt	3,260	29,590
Liabilities held for sale	16,574	0
Total current liabilities	1,164,678	938,598
LONG-TERM DEBT, net of debt issuance costs of $22,883 and $33,458, respectively, and current maturities	2,921,966	2,963,483
OTHER NONCURRENT LIABILITIES	168,281	184,534
COMMITMENTS AND CONTINGENCIES (NOTE 9)
CLASS A 10.75% CONVERTIBLE PREFERRED UNITS, 19,942,169 and 19,942,169 preferred units issued and outstanding, respectively	76,056	63,890
REDEEMABLE NONCONTROLLING INTEREST	4,011	3,072
EQUITY:
General partner, representing a 0.1% interest, 121,205 and 120,300 notional units, respectively	(50,869)	(50,529)
Limited partners, representing a 99.9% interest, 121,083,664 and 120,179,407 common units issued and outstanding, respectively	1,823,740	2,192,413
Class B preferred limited partners, 8,400,000 and 0 preferred units issued and outstanding, respectively	202,731	0
Accumulated other comprehensive loss	(1,478)	(1,828)
Noncontrolling interests	7,270	26,746
Total equity	1,981,394	2,166,802
Total liabilities and equity	$ 6,316,386	$ 6,320,379

Unaudited Condensed Consolidat3

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Accounts receivable - trade, allowance for doubtful accounts	$ 5,561	$ 5,234
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation	420,174	375,594
INTANGIBLE ASSETS, accumulated amortization	455,532	414,605
LONG-TERM DEBT, debt issuance costs	$ 22,883	$ 33,458
General partner interest	0.10%	0.10%
General partner, notional units outstanding (in units)	121,205	120,300
Limited partners interest	99.90%	99.90%
Limited partners, common units issued (in units)	121,083,664	120,179,407
Limited partners, common units outstanding (in units)	121,083,664	120,179,407
Class A Convertible Preferred Units
Preferred units dividend rate	10.75%	10.75%
Temporary equity, issued (in units)	19,942,169	19,942,169
Temporary equity, outstanding (in units)	19,942,169	19,942,169
Class B Perpetual Preferred Units
Preferred units dividend rate	9.00%
Preferred units, issued (in units)	8,400,000
Preferred units, outstanding (in units)	8,400,000

Unaudited Condensed Consolidat4

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
REVENUES:
Crude Oil Logistics	$ 585,007	$ 385,906	$ 1,526,944	$ 1,161,742
Water Solutions	64,024	40,359	162,023	115,845
Liquids	709,044	470,275	1,379,981	909,584
Retail Propane	160,025	128,654	291,797	240,131
Refined Products and Renewables	2,944,874	2,381,283	8,806,717	6,746,168
Other	289	164	696	679
Total Revenues	4,463,263	3,406,641	12,168,158	9,174,149
COST OF SALES:
Crude Oil Logistics	552,871	361,839	1,423,511	1,107,587
Water Solutions	10,192	477	13,019	3,871
Liquids	670,701	430,946	1,319,344	831,221
Retail Propane	87,487	60,508	148,443	106,019
Refined Products and Renewables	2,951,440	2,374,175	8,781,009	6,674,194
Other	117	77	311	300
Total Cost of Sales	4,272,808	3,228,022	11,685,637	8,723,192
OPERATING COSTS AND EXPENSES:
Operating	84,846	76,981	237,285	225,408
General and administrative	29,218	18,280	77,689	88,077
Depreciation and amortization	63,340	60,767	192,427	160,276
(Gain) loss on disposal or impairment of assets, net	(111,480)	34	(11,242)	(203,433)
Revaluation of liabilities	0	0	5,600	0
Operating Income (Loss)	124,531	22,557	(19,238)	180,629
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated entities	3,426	1,279	7,270	1,726
Revaluation of investments	0	0	0	(14,365)
Interest expense	(51,790)	(41,436)	(151,249)	(105,316)
(Loss) gain on early extinguishment of liabilities, net	(21,141)	0	(22,479)	30,890
Other income, net	2,107	20,007	6,113	25,860
Income (Loss) Before Income Taxes	57,133	2,407	(179,583)	119,424
INCOME TAX EXPENSE	(364)	(1,114)	(934)	(2,036)
Net Income (Loss)	56,769	1,293	(180,517)	117,388
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(89)	(317)	(221)	(6,091)
LESS: NET (INCOME) LOSS ATTRIBUTABLE TO REDEEMABLE NONCONTROLLING INTERESTS	(424)	0	261	0
NET INCOME (LOSS) ATTRIBUTABLE TO NGL ENERGY PARTNERS LP	56,256	976	(180,477)	111,297
LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS	(16,219)	(8,906)	(42,001)	(20,958)
LESS: NET (INCOME) LOSS ALLOCATED TO GENERAL PARTNER	(73)	(22)	121	(180)
LESS: REPURCHASE OF WARRANTS	0	0	(349)	0
NET INCOME (LOSS) ALLOCATED TO COMMON UNITHOLDERS	$ 39,964	$ (7,952)	$ (222,706)	$ 90,159
BASIC INCOME (LOSS) PER COMMON UNIT (in dollars per unit)	$ 0.33	$ (0.07)	$ (1.84)	$ 0.85
DILUTED INCOME (LOSS) PER COMMON UNIT (in dollars per unit)	$ 0.32	$ (0.07)	$ (1.84)	$ 0.82
BASIC WEIGHTED AVERAGE COMMON UNITS OUTSTANDING (in units)	120,844,008	107,966,901	120,899,502	106,114,668
DILUTED WEIGHTED AVERAGE COMMON UNITS OUTSTANDING (in units)	124,161,966	107,966,901	120,899,502	109,554,928

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 56,769	$ 1,293	$ (180,517)	$ 117,388
Other comprehensive income	784	545	350	60
Comprehensive income (loss)	$ 57,553	$ 1,838	$ (180,167)	$ 117,448

Unaudited Condensed Consolidat6

Unaudited Condensed Consolidated Statement of Changes in Equity - 9 months ended Dec. 31, 2017 - USD ($) $ in Thousands	Total	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interests	General Partner	Class B Perpetual Preferred Units	Class B Perpetual Preferred UnitsClass B Perpetual Preferred Units	Limited Partner	Limited PartnerCommon units
Beginning Balance (in units) at Mar. 31, 2017								120,179,407
Beginning Balance at Mar. 31, 2017	$ 2,166,802	$ (1,828)	$ 26,746	$ (50,529)			$ 2,192,413
Increase (Decrease) in Partnership Capital
Distributions to general and common unit partners and preferred unitholders (Note 10)	(171,314)			(242)			(171,072)
Distributions to noncontrolling interest owners	(3,082)		(3,082)
Contributions	23		23	0			0
Purchase of noncontrolling interest (Note 4)	(22,883)		(16,638)				(6,245)
Redemption valuation adjustment (Note 2)	(1,201)						(1,201)
Repurchase of warrants	(10,549)						(10,549)
Equity issued pursuant to incentive compensation plan (in units)								1,855,102
Equity issued pursuant to incentive compensation plan (Note 10)	$ 28,634			23			28,611
Common unit repurchases and cancellations (in units)	1,516,848							(1,558,498)
Common unit repurchases and cancellations (Note 10)	$ (15,608)						(15,608)
Warrants exercised (in units)								607,653
Warrants exercised (Note 10)	6						6
Accretion of beneficial conversion feature of Class A convertible preferred units (Note 10)	(12,259)						(12,259)
Preferred units, issued (in units)						8,400,000
Preferred units issued, net of offering costs	202,731				$ 202,731
Net (loss) income	(180,256)		221	(121)			(180,356)
Other comprehensive income	350	350
Ending Balance (in units) at Dec. 31, 2017						8,400,000		121,083,664
Ending Balance at Dec. 31, 2017	$ 1,981,394	$ (1,478)	$ 7,270	$ (50,869)	$ 202,731		$ 1,823,740

Unaudited Condensed Consolidat7

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES:
Net (loss) income	$ (180,517)	$ 117,388
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization, including amortization of debt issuance costs	205,192	173,566
Loss (gain) on early extinguishment or revaluation of liabilities, net	28,079	(30,890)
Gain on termination of a storage sublease agreement	0	(16,205)
Non-cash equity-based compensation expense	27,114	39,859
Gain on disposal or impairment of assets, net	(11,242)	(203,433)
Provision for doubtful accounts	1,910	471
Net adjustments to fair value of commodity derivatives	(99,814)	(102,638)
Equity in earnings of unconsolidated entities	(7,270)	(1,726)
Distributions of earnings from unconsolidated entities	4,891	2,094
Revaluation of investments	0	14,365
Other	854	(3,269)
Changes in operating assets and liabilities, exclusive of acquisitions:
Accounts receivable-trade and affiliates	(278,547)	(245,065)
Inventories	(90,037)	(244,941)
Other current and noncurrent assets	(11,534)	(65,331)
Accounts payable-trade and affiliates	200,363	245,506
Other current and noncurrent liabilities	14,991	(599)
Net cash provided by (used in) operating activities	4,061	(115,572)
INVESTING ACTIVITIES:
Capital expenditures	(99,384)	(264,580)
Acquisitions, net of cash acquired	(49,481)	(127,513)
Cash flows from settlements of commodity derivatives	(85,823)	(82,815)
Proceeds from sales of assets	33,673	14,195
Proceeds from sale of interest in Glass Mountain	292,117	0
Proceeds from sale of TLP common units	0	112,370
Proceeds from sale of Grassland	0	22,000
Transaction with an unconsolidated entity (Note 13)	(6,424)	0
Investments in unconsolidated entities	(21,461)	0
Distributions of capital from unconsolidated entities	11,710	7,608
Repayments on loan for natural gas liquids facility	7,425	6,585
Loan to affiliate	(1,460)	(2,700)
Repayments on loan to affiliate	4,160	655
Payment to terminate development agreement	0	(16,875)
Other (Note 14)	20,000	0
Net cash provided by (used in) investing activities	105,052	(331,070)
FINANCING ACTIVITIES:
Proceeds from borrowings under Revolving Credit Facility	1,674,500	1,176,000
Payments on Revolving Credit Facility	(1,349,500)	(1,510,500)
Issuance of senior unsecured notes	0	700,000
Repayment and repurchase of senior secured and senior unsecured notes	(415,568)	(15,129)
Payments on other long-term debt	(4,361)	(6,549)
Debt issuance costs	(2,497)	(12,608)
Contributions from general partner	0	59
Contributions from noncontrolling interest owners, net	23	639
Distributions to general and common unit partners and preferred unitholders	(166,589)	(132,135)
Distributions to noncontrolling interest owners	(3,082)	(3,292)
Proceeds from sale of preferred units, net of offering costs	202,731	234,989
Repurchase of warrants	(10,549)	0
Common unit repurchases and cancellations	(15,608)	0
Proceeds from sale of common units, net of offering costs	0	43,896
Payments for settlement and early extinguishment of liabilities	(2,408)	(27,977)
Net cash (used in) provided by financing activities	(92,908)	447,393
Net increase in cash and cash equivalents	16,205	751
Cash and cash equivalents, beginning of period	12,264	28,176
Cash and cash equivalents, end of period	28,469	28,927
Supplemental cash flow information:
Cash interest paid	153,788	89,102
Income taxes paid (net of income tax refunds)	1,614	1,985
Supplemental non-cash investing and financing activities:
Distributions declared but not paid to Class B preferred unitholders	4,725	0
Accrued capital expenditures	7,444	2,754
Limited Partner
FINANCING ACTIVITIES:
Repurchase of warrants	(10,549)
Supplemental non-cash investing and financing activities:
Value of common units issued in business combinations	$ 0	$ 3,947

Organization and Operations

Organization and Operations	9 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	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, 2017 , our operations include: • Our Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries or for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs, and provides terminaling, trucking, marine and pipeline transportation services through its owned assets. • Our Water Solutions segment provides services for the treatment and disposal of wastewater generated from crude oil and natural gas production and for the disposal of solids such as tank bottoms and drilling fluids and performs truck and frac tank washouts. In addition, our Water Solutions segment sells the recovered hydrocarbons that result from performing these services. • Our Liquids segment supplies natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants throughout the United States and in Canada using its leased underground storage and fleet of leased railcars, markets regionally through its 21 owned terminals throughout the United States, and provides terminaling and storage services at its salt dome storage facility in Utah. • Our Retail Propane segment sells propane, distillates, equipment and supplies to end users consisting of residential, agricultural, commercial, and industrial customers and to certain resellers in 30 states and the District of Columbia. • Our Refined Products and Renewables segment conducts gasoline, diesel, ethanol, and biodiesel marketing operations, purchases refined petroleum and renewable products primarily in the Gulf Coast, Southeast and Midwest regions of the United States and schedules them for delivery at various locations throughout the country.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements include our accounts and those of our controlled subsidiaries. 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, and include our proportionate share of assets, liabilities, and expenses related to this pipeline in our unaudited condensed 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 (“SEC”). 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, 2017 was derived from our audited consolidated financial statements for the fiscal year ended March 31, 2017 included in our Annual Report on Form 10-K (“Annual Report”) filed with the SEC on May 26, 2017. 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, 2018 . 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 unaudited condensed consolidated financial statements include, among others, determining the fair value of assets and liabilities acquired in business combinations, the collectibility of accounts receivable, the recoverability of inventories, useful lives and recoverability of property, plant and equipment and amortizable intangible assets, the impairment of long-lived assets and goodwill, the fair value of asset retirement obligations, the value of equity-based compensation, and accruals for environmental matters. 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 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 and forward commodity 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 inputs (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. Derivative Financial Instruments We record all derivative financial instrument contracts at fair value in our unaudited condensed consolidated balance sheets except for certain contracts that qualify for the normal purchase and normal sale election . 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. We have not designated any financial instruments as hedges for accounting purposes. All changes in the fair value of our commodity derivative instruments that do not qualify as normal purchases and normal sales (whether cash transactions or non-cash mark-to-market adjustments) are reported within cost of sales in our unaudited condensed consolidated statements of operations, regardless of whether the contract is physically or financially settled. We utilize various commodity derivative financial instrument contracts to attempt to reduce our exposure to price fluctuations. We do not enter into such contracts for trading purposes. Changes in assets and liabilities from commodity derivative financial instruments result primarily from changes in market prices, newly originated transactions, and the timing of settlements. We attempt to balance our contractual portfolio in terms of notional amounts and timing of performance and delivery obligations. However, net unbalanced positions can exist or are established based on our assessment of anticipated market movements. Inherent in the resulting contractual portfolio are certain business risks, including commodity price risk and credit risk. Commodity price risk is the risk that the market value of crude oil, natural gas liquids, or refined and renewables products will change, either favorably or unfavorably, in response to changing market conditions. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. Procedures and limits for managing commodity price risks and credit risks are specified in our market risk policy and credit risk policy, respectively. Open commodity positions and market price changes are monitored daily and are reported to senior management and to marketing operations personnel. Credit risk is monitored daily and exposure is minimized through customer deposits, restrictions on product liftings, letters of credit, and entering into master netting agreements that allow for offsetting counterparty receivable and payable balances for certain transactions. 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. Revenues for our Water Solutions segment are recognized when we obtain the wastewater at our treatment and disposal facilities. The tariffs we charge for our pipeline transportation systems are primarily regulated by the Federal Energy Regulatory Commission. Our tariffs include provisions which allow us to deduct from our customer’s inventory a small percentage of the products our customers transport on our pipeline systems. We refer to these product quantities as pipeline loss allowance. We receive pipeline loss allowances from our customers as consideration for product losses during the transportation of their products on our pipeline systems. Our customers are guaranteed delivery of the amount of their injected volumes, net of pipeline loss allowance, irrespective of what our actual product losses may be during the delivery process. 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 unaudited 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 ended December 31, 2017 and 2016 include $0.3 million and $1.2 million , respectively, and revenues during the nine months ended December 31, 2017 and 2016 include $1.0 million and $3.7 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. 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 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 Canada, and our operations in Texas are subject to a state franchise tax that is calculated based on revenues net of cost of sales. 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 unaudited condensed consolidated financial statements at December 31, 2017 or March 31, 2017 . On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President of the United States. The Act amended the Internal Revenue Code of 1986 for taxable years beginning after December 31, 2017 and does not extend retroactively to any prior tax periods. Beginning in tax year 2018, the deductibility of net interest expense is limited to 30% of our adjusted taxable income. For tax years beginning after December 31, 2017 and before January 1, 2022, the Act calculates adjusted taxable income using an EBITDA-based calculation. For tax years beginning January 1, 2022 and thereafter, the calculation of adjusted taxable income will not add back depreciation or amortization. Any disallowed business interest expense is then generally carried forward as a deduction in a succeeding taxable year at the partner level. These limitations might cause interest expense to be deducted by our unitholders in a later period than recognized in the GAAP financial statements. As of December 31, 2017, we do not have any deferred tax assets or liabilities. Any future deferred tax assets or liabilities will be valued based on the new corporate tax rate under the Act. 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. On April 1, 2017, we adopted the new inventory standard, Accounting Standards Update (“ASU”) No. 2015-11. Under this ASU, inventory is to be measured at the lower of cost or net realizable value, which is defined as the estimated selling price in the ordinary course of business, less reasonable predictable costs of completion, disposal, and transportation. 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, 2017 March 31, 2017 (in thousands) Crude oil $ 77,306 $ 146,857 Natural gas liquids: Propane 118,998 38,631 Butane 40,670 5,992 Other 11,778 6,035 Refined products: Gasoline 214,717 193,051 Diesel 129,126 98,237 Renewables: Ethanol 39,631 42,009 Biodiesel 8,124 21,410 Other 4,750 9,210 Total $ 645,100 $ 561,432 Amounts as of December 31, 2017 in the table above exclude inventory related to the potential sale of a portion of the Retail Propane segment, as these amounts have been classified as current assets held for sale in our unaudited condensed consolidated balance sheet (see Note 14 ). Investments in Unconsolidated Entities Investments we cannot control, but can exercise significant influence over, are accounted for using the equity method of accounting. Investments in partnerships and limited liability companies, unless our investment is considered to be minor, and investments in unincorporated joint ventures are also accounted for using the equity method of accounting. Under the equity method, we do not report the individual assets and liabilities of these entities on our unaudited condensed consolidated balance sheets; instead, our ownership interests are reported within investments in unconsolidated entities on our unaudited 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. We use the cumulative earnings approach to classify distributions received from unconsolidated entities as either operating activities or investing activities in our unaudited condensed consolidated statements of cash flows. Our investments in unconsolidated entities consist of the following at the dates indicated: Entity Segment Ownership Date Acquired December 31, 2017 March 31, 2017 (in thousands) Glass Mountain Pipeline, LLC (2) Crude Oil Logistics —% December 2013 $ — $ 172,098 E Energy Adams, LLC Refined Products and Renewables 19% December 2013 14,369 12,952 Water treatment and disposal facility (3) Water Solutions 50% August 2015 2,000 2,147 Victory Propane, LLC (4) Retail Propane 50% April 2015 — 226 Total $ 16,369 $ 187,423 (1) Ownership interest percentages are at December 31, 2017 . (2) On December 22, 2017, we sold our previously held 50% interest in Glass Mountain Pipeline, LLC for net proceeds of $292.1 million and recorded a gain on disposal of $108.6 million during the three months ended December 31, 2017 within (gain) loss on disposal or impairment of assets, net in our unaudited condensed consolidated statement of operations. (3) This is an investment in an unincorporated joint venture. (4) As our investment is $0 at December 31, 2017 , our proportionate share of Victory Propane, LLC’s (“Victory Propane”) losses have been recorded against the loan receivable we have with Victory Propane. See Note 13 for a further discussion of the loan receivable and a description of other transactions between us and Victory Propane. Variable Interest Entity Victory Propane was formed as a joint venture in April 2015 by us and an unrelated third party. The business purpose of Victory Propane is to acquire and/or develop retail propane operations in a defined geographic area. In conjunction with the formation of Victory Propane, we agreed to provide Victory Propane a revolving line of credit of $5.0 million to be used for working capital and/or acquisition funding. Victory Propane began using this revolving line of credit shortly after operations commenced. At December 31, 2017 , we provided a majority of Victory Propane’s financing and have concluded that Victory Propane is a variable interest entity because the equity is not sufficient to fund Victory Propane’s activities without additional subordinated financial support. Each joint venture member has an equal ownership interest in Victory Propane and has equal representation on Victory Propane’s board of managers to make all significant decisions relating to the operations of Victory Propane. Therefore, we do not have the power to direct activities that significantly influence the economic performance of Victory Propane and have concluded that we are not the primary beneficiary. Our maximum exposure to loss related to Victory Propane is limited to the sum of our equity investment as shown in the table above and the outstanding loan receivable (see Note 13 ) at December 31, 2017 . Other Noncurrent Assets Other noncurrent assets consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Loan receivable (1) $ 32,396 $ 40,684 Line fill (2) 36,446 30,628 Tank bottoms (3) 42,044 42,044 Minimum shipping fees - pipeline commitments (4) 82,301 67,996 Other 49,578 58,252 Total $ 242,765 $ 239,604 (1) Represents a loan receivable associated with our financing of the construction of a natural gas liquids facility to be utilized by a third party . (2) Represents minimum volumes of product we are required to leave on certain third-party owned pipelines under long-term shipment commitments. At December 31, 2017 , line fill consisted of 377,320 barrels of crude oil and 262,000 barrels of propane (requirement is due to a new contract). At March 31, 2017 , line fill consisted of 427,193 barrels of crude oil. Line fill held in pipelines we own is included within property, plant and equipment (see Note 5 ). (3) 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. At December 31, 2017 and March 31, 2017 , tank bottoms held in third party terminals consisted of 366,212 barrels and 366,212 barrels of refined products, respectively. Tank bottoms held in terminals we own are included within property, plant and equipment (see Note 5 ). (4) Represents the minimum shipping fees paid in excess of volumes shipped for two contracts. This amount can be recovered when volumes shipped exceed the minimum monthly volume commitment (see Note 9 ). Under these contracts, we currently have 2.3 years and 2.8 years , respectively, in which to ship the excess volumes. Accrued Expenses and Other Payables Accrued expenses and other payables consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Accrued compensation and benefits $ 16,237 $ 22,227 Excise and other tax liabilities 48,803 64,051 Derivative liabilities 34,713 27,622 Accrued interest 33,389 44,418 Product exchange liabilities 24,312 1,693 Deferred gain on sale of general partner interest in TLP 30,113 30,113 Other 43,185 17,001 Total $ 230,752 $ 207,125 Amounts as of December 31, 2017 in the table above exclude accrued expenses and other payables related to the potential sale of a portion of the Retail Propane segment, as these amounts have been classified as current liabilities held for sale in our unaudited condensed consolidated balance sheet (see Note 14 ). Deferred Gain on Sale of General Partner Interest in TLP On February 1, 2016, we sold our general partner interest in TransMontaigne Partners L.P. (“TLP”) to an affiliate of ArcLight Capital Partners. We deferred a portion of the gain on the sale and will recognize this amount over our future lease payment obligations, which is approximately seven years . During the three months ended December 31, 2017 and 2016 , we recognized $7.5 million and $7.5 million , respectively, and during the nine months ended December 31, 2017 and 2016 , we recognized $22.6 million and $22.6 million , respectively, of the deferred gain in our unaudited condensed consolidated statements of operations. Within our December 31, 2017 unaudited condensed consolidated balance sheet, the current portion of the deferred gain, $30.1 million , is recorded in accrued expenses and other payables, and the long-term portion, $116.7 million , is recorded in other noncurrent liabilities. Noncontrolling Interests Noncontrolling interests represent the portion of certain consolidated subsidiaries that are owned by third parties. Amounts are adjusted by the noncontrolling interest holder’s proportionate share of the subsidiaries’ earnings or losses each period and any distributions that are paid. Noncontrolling interests are reported as a component of equity, unless the noncontrolling interest is considered redeemable, in which case the noncontrolling interest is recorded between liabilities and equity (mezzanine or temporary equity) in our unaudited condensed consolidated balance sheet. The redeemable noncontrolling interest is adjusted at each balance sheet date to its maximum redemption value if the amount is greater than the carrying value. During the nine months ended December 31, 2017 , we recorded $1.2 million to adjust the redeemable noncontrolling interest to its maximum redemption value. 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 a reasonable period of time (not to exceed one year) to obtain the information necessary to identify and measure the fair value of the assets acquired and liabilities assumed in a business combination. As discussed in Note 4 , certain of our 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. Also, as discussed in Note 4 , we made certain adjustments during the nine months ended December 31, 2017 to our estimates of the acquisition date fair values of assets acquired and liabilities assumed in business combinations that occurred during the fiscal year ended March 31, 2017 . Reclassifications 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. Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-15, “Statement of Cash Flows-Classification of Certain Cash Receipts and Cash Payments.” The ASU requires cash payments not made soon after the acquisition date of a business combination by an acquirer to settle a contingent consideration liability to be separated and classified as cash outflows for financing activities and operating activities. Cash payments up to the amount of the contingent consideration liability recognized at the acquisition date (including measurement-period adjustments) should be classified as financing activities and any excess should be classified as operating activities. We adopted this ASU effective April 1, 2017 and have revised previously reported information. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses.” The ASU requires a financial asset (or a group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected, which would include accounts receivable. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. The ASU is effective for the Partnership beginning April 1, 2020, and requires a modified retrospective method of adoption, although early adoption is permitted. We are currently in the process of assessing the impact of this ASU on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases.” The ASU will replace previous lease accounting guidance in GAAP. The ASU requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The ASU retains a distinction between finance leases and operating leases. The ASU is effective for the Partnership beginning April 1, 2019, and requires a modified retrospective method of adoption. We are currently in the process of compiling a database of leases and analyzing each lease to assess the impact under this ASU on our consolidated financial statements. 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 methods of adoption. We are in the process of evaluating our revenue contracts by segment and type to determine the potential impact of adopting this ASU. At this point in our evaluation process, we have determined that the timing and/or amount of revenue that we recognize on certain contracts, particularly contracts with minimum volume commitments, specifically in our Water Solutions, Crude Oil Logistics, Refined and Renewables and Liquids segments, tiered pricing, non-cash consideration and multi-year services arrangements, may be impacted by the adoption of this ASU; however, we are still in the process of quantifying these impacts, if any, and have not yet determined whether they would be material to our consolidated financial statements. We have hired a third-party to assist us in the evaluation of these contracts. In addition, we are in the process of implementing appropriate changes to our business processes, systems and controls to support recognition and disclosure under this ASU. We continue to monitor additional authoritative or interpretive guidance related to this ASU as it becomes available, as well as comparing our conclusions on specific interpretative issues to other peers in our industry, to the extent that such information is available to us. We currently anticipate utilizing a modified retrospective adoption as of April 1, 2018.

Income (Loss) Per Common Unit

Income (Loss) Per Common Unit	9 Months Ended
	Dec. 31, 2017
Earnings Per Unit [Abstract]
Income (Loss) Per Common Unit	Income (Loss) Per Common Unit The following table presents our calculation of basic and diluted weighted average units outstanding for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 Weighted average units outstanding during the period: Common units - Basic 120,844,008 107,966,901 120,899,502 106,114,668 Effect of Dilutive Securities: Performance awards — — — 111,826 Warrants 2,914,383 — — 3,328,434 Service awards 403,575 — — — Common units - Diluted 124,161,966 107,966,901 120,899,502 109,554,928 For the three months ended December 31, 2017 , the Class A Preferred Units (as defined herein) and Performance Awards (as defined herein) were considered antidilutive. For the nine months ended December 31, 2017 and three months ended December 31, 2016 , the Class A Preferred Units, Performance Awards, Service Awards and warrants were considered antidilutive. For the nine months ended December 31, 2016 , the Class A Preferred Units and Service Awards were considered antidilutive. Our income (loss) per common unit is as follows for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands, except unit and per unit amounts) Net income (loss) $ 56,769 $ 1,293 $ (180,517 ) $ 117,388 Less: Net income attributable to noncontrolling interests (89 ) (317 ) (221 ) (6,091 ) Less: Net (income) loss attributable to redeemable noncontrolling interests (424 ) — 261 — Net income (loss) attributable to NGL Energy Partners LP 56,256 976 (180,477 ) 111,297 Less: Distributions to preferred unitholders (16,219 ) (8,906 ) (42,001 ) (20,958 ) Less: Net (income) loss allocated to general partner (1) (73 ) (22 ) 121 (180 ) Less: Repurchase of warrants (2) — — (349 ) — Net income (loss) allocated to common unitholders $ 39,964 $ (7,952 ) $ (222,706 ) $ 90,159 Basic income (loss) per common unit $ 0.33 $ (0.07 ) $ (1.84 ) $ 0.85 Diluted income (loss) per common unit $ 0.32 $ (0.07 ) $ (1.84 ) $ 0.82 Basic weighted average common units outstanding 120,844,008 107,966,901 120,899,502 106,114,668 Diluted weighted average common units outstanding 124,161,966 107,966,901 120,899,502 109,554,928 (1) Net (income) loss allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights. (2) This amount represents the excess of the repurchase price over the fair value of the warrants, as discussed further in Note 10 .

Acquisitions

Acquisitions	9 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions The following summarizes our acquisitions during the nine months ended December 31, 2017 : Acquisition of Remaining Interest in NGL Solids Solutions, LLC On April 17, 2017, we entered into a purchase and sale agreement with the party owning the 50% noncontrolling interest in NGL Solids Solutions, LLC, a consolidated subsidiary in our Water Solutions segment. Total consideration was $23.1 million , which consisted of cash of $20.0 million and the termination of a non-compete agreement that we valued at $3.1 million , and in return we received the following: • The remaining 50% interest in NGL Solids Solutions, LLC; and • Two parcels of land to develop saltwater disposal wells. We accounted for the transaction as an acquisition of assets. Acquiring assets in groups requires not only ascertaining the cost of the asset (or net asset) group but also allocating that cost to the individual assets (or individual assets and liabilities) that make up the group. The cost of a group of assets acquired in an asset acquisition is allocated to the individual assets acquired or liabilities assumed/released based on their relative fair values and does not give rise to goodwill or bargain purchase gains. We allocated $22.9 million to noncontrolling interest and $0.2 million to land. The acquisition of the remaining interest was accounted for as an equity transaction, no gain or loss was recorded and the carrying value of the noncontrolling interest was adjusted to reflect the change in ownership interest of the subsidiary. As of the date of the transaction, the 50% noncontrolling interest had a carrying value of $16.6 million . For the termination of the non-compete agreement, we recorded a gain of $1.3 million , which included the carrying value of the non-compete agreement intangible asset that was written off (see Note 7 ). This gain was recorded within (gain) loss on disposal or impairment of assets, net in our unaudited condensed consolidated statement of operations during the nine months ended December 31, 2017 . Retail Propane Businesses During the nine months ended December 31, 2017 , we acquired six retail propane businesses for total consideration of $30.5 million . 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 for these retail propane businesses, and as a result, the estimates of fair value at December 31, 2017 are subject to change. The following table summarizes the preliminary estimates of the fair values of the assets acquired and liabilities assumed (in thousands): Current assets $ 2,042 Property, plant and equipment 10,686 Goodwill 3,010 Intangible assets 16,625 Current liabilities (1,586 ) Other noncurrent liabilities (291 ) Fair value of net assets acquired $ 30,486 Goodwill represents the excess of the consideration paid for the acquired businesses over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill represents a premium paid to acquire the skilled workforce of each of the businesses acquired and the ability to expand into new markets. We expect that all of the goodwill will be deductible for federal income tax purposes. The operations of these retail propane businesses have been included in our unaudited condensed consolidated statement of operations since their acquisition date. Our unaudited condensed consolidated statement of operations for the nine months ended December 31, 2017 includes revenues of $8.8 million and operating income of $0.8 million that were generated by the operations of three of these retail propane businesses. The revenues and operating income of the other retail propane business acquisitions are not considered material. The following summarizes the status of the preliminary purchase price allocation of acquisitions prior to April 1, 2017: Water Solutions Facilities During the six months ended September 30, 2017, we completed the acquisition accounting for two water solutions facilities. During the six months ended September 30, 2017, we received additional information and recorded a decrease of $0.2 million to property, plant and equipment and an increase of less than $0.1 million to other noncurrent liabilities related to an asset retirement obligation. The offset of these adjustments was recorded to goodwill. Retail Propane Businesses During the nine months ended December 31, 2017 , we completed the acquisition accounting for four retail propane businesses. During the nine months ended December 31, 2017 , we received additional information and recorded a decrease of $0.2 million to current assets and a decrease of less than $0.1 million to property, plant and equipment. The offset of these adjustments was recorded to goodwill. In addition, we paid $0.4 million in cash to the sellers during the nine months ended December 31, 2017 for consideration that was held back at the acquisition date, which we recorded as a liability within accrued expenses and other payables in our unaudited condensed consolidated balance sheet. Natural Gas Liquids Facilities During the three months ended June 30, 2017, we completed the acquisition accounting for certain natural gas liquids facilities acquired in January 2017. There were no material adjustments to the fair value of assets acquired and liabilities assumed during the three months ended June 30, 2017.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Our property, plant and equipment consists of the following at the dates indicated: Description Estimated December 31, 2017 March 31, 2017 (in thousands) Natural gas liquids terminal and storage assets 2–30 years $ 238,092 $ 207,825 Pipeline and related facilities 30–40 years 255,930 248,582 Refined products terminal assets and equipment 15–25 years 7,062 6,736 Retail propane equipment 2–30 years 195,414 239,417 Vehicles and railcars 3–25 years 179,691 198,480 Water treatment facilities and equipment 3–30 years 585,569 557,100 Crude oil tanks and related equipment 2–30 years 218,056 203,003 Barges and towboats 5–30 years 91,884 91,037 Information technology equipment 3–7 years 43,495 43,880 Buildings and leasehold improvements 3–40 years 167,446 161,957 Land 56,593 56,545 Tank bottoms and line fill (1) 20,094 24,462 Other 3–20 years 14,802 39,132 Construction in progress 54,729 87,711 2,128,857 2,165,867 Accumulated depreciation (420,174 ) (375,594 ) Net property, plant and equipment $ 1,708,683 $ 1,790,273 (1) 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. Line fill, which represents our portion of the product volume required for the operation of the proportionate share of a pipeline we own, is recorded at historical cost. Amounts as of December 31, 2017 in the table above exclude property, plant and equipment and the accumulated depreciation related to the potential sale of a portion of the Retail Propane segment, as these amounts have been classified as current assets held for sale in our unaudited condensed consolidated balance sheet (see Note 14 ). The following table summarizes depreciation expense and capitalized interest expense for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands) Depreciation expense $ 32,629 $ 32,039 $ 98,761 $ 88,396 Capitalized interest expense $ 66 $ 1,429 $ 66 $ 6,233 We record losses (gains) from the sales of property, plant and equipment and any write-downs in value due to impairment within (gain) loss on disposal or impairment of assets, net in our unaudited condensed consolidated statements of operations. During the three months ended December 31, 2017 , we recorded a net loss of $4.7 million . The net loss consisted of losses of $7.5 million related to the disposal of certain assets, offset by a gain of $2.8 million related to the sale of excess pipe in our Crude Oil Logistics segment . During the nine months ended December 31, 2017 , we recorded a net loss of $4.0 million . The net loss consisted of losses of $10.6 million related to the disposal of certain assets and the write-down of other assets, offset by a gain of $6.6 million related to the sale of excess pipe in our Crude Oil Logistics segment.

Goodwill

Goodwill	9 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following table summarizes changes in goodwill by segment during the nine months ended December 31, 2017 : Crude Oil Water Liquids Retail Refined Total (in thousands) Balances at March 31, 2017 $ 579,846 $ 424,270 $ 266,046 $ 130,427 $ 51,127 $ 1,451,716 Revisions to acquisition accounting (Note 4) — 195 — 232 — 427 Acquisitions (Note 4) — — — 3,010 — 3,010 Impairment — — (116,877 ) — — (116,877 ) Assets held for sale (Note 14) — — — (24,959 ) — (24,959 ) Balances at December 31, 2017 $ 579,846 $ 424,465 $ 149,169 $ 108,710 $ 51,127 $ 1,313,317 Goodwill Impairment Due to the decreased demand for natural gas liquid storage and resulting decline in revenues and earnings as compared to actual and projected results of prior and future periods, we tested the goodwill within our natural gas liquids salt cavern storage reporting unit (“Sawtooth reporting unit”), which is part of our Liquids segment, for impairment at September 30, 2017. We estimated the fair value of our Sawtooth reporting unit based on the income approach, also known as the discounted cash flow method, which utilizes the present value of future expected cash flows to estimate the fair value. The future cash flows of our Sawtooth reporting unit were projected based upon estimates as of the test date of future revenues, operating expenses and cash outflows necessary to support these cash flows, including working capital and maintenance capital expenditures. We also considered expectations regarding: (i) expected storage volumes, which are assumed to increase in the coming years due to increased production of natural gas liquids, (ii) expected propane and butane prices and (iii) expected rental fees. We assumed a 2% per year increase in commodity prices and a 4% increase in rental fees per year starting in April 2018, and held such prices and fees flat for periods in our model beyond our 2023 fiscal year. For expenses, we assumed an increase consistent with the increase in storage volumes, and maintenance capital was held flat throughout the model. The discount rate used in our discounted cash flow method was a risk adjusted weighted average cost of capital calculated as of September 30, 2017 of 12% . The discounted cash flow results indicated that the estimated fair value of our Sawtooth reporting unit was less than its carrying value by approximately 32% at September 30, 2017. During the three months ended September 30, 2017, we recorded a goodwill impairment charge of $116.9 million , which was recorded within (gain) loss on disposal or impairment of assets, net , in our unaudited condensed consolidated statement of operations. At September 30, 2017, our Sawtooth reporting unit had a goodwill balance of $66.2 million . Our estimated fair value is predicated upon management’s assumption of the growth in the production of natural gas liquids and the decline in the use of railcars to store natural gas liquids. We used these assumptions to estimate the demand for storage at our facility and the revenue generated by customers reserving capacity at our facility. Due to the current volatility in commodity prices and the excess railcars currently in the market, we believe it is reasonably possible that the need for underground storage we estimate in our model does not materialize, such that our estimate of fair value could change and result in further impairment of the goodwill in our Sawtooth reporting unit.

Intangible Assets

Intangible Assets	9 Months Ended
	Dec. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Intangible Assets Our intangible assets consist of the following at the dates indicated: December 31, 2017 March 31, 2017 Description Amortizable Lives Gross Carrying Accumulated Net Gross Carrying Accumulated Net (in thousands) Amortizable: Customer relationships 3–20 years $ 882,256 $ (352,364 ) $ 529,892 $ 906,782 $ (316,242 ) $ 590,540 Customer commitments 10 years 310,000 (36,167 ) 273,833 310,000 (12,917 ) 297,083 Pipeline capacity rights 30 years 161,785 (15,697 ) 146,088 161,785 (11,652 ) 150,133 Rights-of-way and easements 1–40 years 63,485 (2,670 ) 60,815 63,402 (2,154 ) 61,248 Executory contracts and other agreements 3–30 years 23,097 (16,626 ) 6,471 29,036 (20,457 ) 8,579 Non-compete agreements 2–32 years 17,988 (6,767 ) 11,221 32,984 (17,762 ) 15,222 Trade names 1–10 years 4,076 (1,822 ) 2,254 15,439 (13,396 ) 2,043 Debt issuance costs (1) 5 years 40,790 (23,419 ) 17,371 38,983 (20,025 ) 18,958 Total amortizable 1,503,477 (455,532 ) 1,047,945 1,558,411 (414,605 ) 1,143,806 Non-amortizable: Trade names 17,010 — 17,010 20,150 — 20,150 Total non-amortizable 17,010 — 17,010 20,150 — 20,150 Total $ 1,520,487 $ (455,532 ) $ 1,064,955 $ 1,578,561 $ (414,605 ) $ 1,163,956 (1) Includes debt issuance costs related to the Revolving Credit Facility (as defined herein). Debt issuance costs related to fixed-rate notes are reported as a reduction of the carrying amount of long-term debt. Amounts as of December 31, 2017 in the table above exclude intangible assets and the accumulated amortization related to the potential sale of a portion of the Retail Propane segment, as these amounts have been classified as current assets held for sale in our unaudited condensed consolidated balance sheet (see Note 14 ). The weighted-average remaining amortization period for intangible assets is approximately 11.4 years . Write off of Intangible Asset During the nine months ended December 31, 2017 , we wrote off $1.8 million related to the non-compete agreement which was terminated as part of our acquisition of the remaining interest in NGL Solids Solutions, LLC (see Note 4 ). Amortization expense is as follows for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, Recorded In 2017 2016 2017 2016 (in thousands) Depreciation and amortization $ 30,711 $ 28,728 $ 93,666 $ 71,880 Cost of sales 1,505 1,753 4,596 5,098 Interest expense 1,154 1,721 3,394 5,177 Total $ 33,370 $ 32,202 $ 101,656 $ 82,155 Expected amortization of our intangible assets is as follows (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 32,936 2019 128,009 2020 124,632 2021 111,519 2022 96,432 Thereafter 554,417 Total $ 1,047,945

Long-Term Debt

Long-Term Debt	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Our long-term debt consists of the following at the dates indicated: December 31, 2017 March 31, 2017 Face Unamortized Book Face Unamortized Book (in thousands) Revolving credit facility: Expansion capital borrowings $ 125,000 $ — $ 125,000 $ — $ — $ — Working capital borrowings 1,014,500 — 1,014,500 814,500 — 814,500 Senior secured notes — — — 250,000 (4,559 ) 245,441 Senior unsecured notes: 5.125% Notes due 2019 360,781 (2,015 ) 358,766 379,458 (3,191 ) 376,267 6.875% Notes due 2021 367,048 (4,817 ) 362,231 367,048 (5,812 ) 361,236 7.500% Notes due 2023 656,589 (9,515 ) 647,074 700,000 (11,329 ) 688,671 6.125% Notes due 2025 412,507 (6,536 ) 405,971 500,000 (8,567 ) 491,433 Other long-term debt 11,684 — 11,684 15,525 — 15,525 2,948,109 (22,883 ) 2,925,226 3,026,531 (33,458 ) 2,993,073 Less: Current maturities 3,260 — 3,260 29,590 — 29,590 Long-term debt $ 2,944,849 $ (22,883 ) $ 2,921,966 $ 2,996,941 $ (33,458 ) $ 2,963,483 (1) Debt issuance costs related to the Revolving Credit Facility are reported within intangible assets, rather than as a reduction of the carrying amount of long-term debt. Amortization expense for debt issuance costs related to long-term debt in the table above was $1.5 million and $1.2 million during the three months ended December 31, 2017 and 2016 , respectively, and $4.8 million and $3.0 million during the nine months ended December 31, 2017 and 2016 , respectively. Expected amortization of debt issuance costs is as follows (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 1,283 2019 5,124 2020 4,191 2021 3,810 2022 3,229 Thereafter 5,246 Total $ 22,883 Credit Agreement We are party to a $1.765 billion credit agreement (the “Credit Agreement”) with a syndicate of banks. As of December 31, 2017 , the Credit Agreement includes a revolving credit facility to fund working capital needs, which had a capacity of $1.2 billion for cash borrowings and letters of credit, (the “Working Capital Facility”) and a revolving credit facility to fund acquisitions and expansion projects, which had a capacity of $565.0 million (the “Expansion Capital Facility,” and together with the Working Capital Facility, the “Revolving Credit Facility”). During the three months ended September 30, 2017, we reallocated $50.0 million from the Expansion Capital Facility to the Working Capital Facility. During the three months ended December 31, 2017, we reallocated an additional $150.0 million from the Expansion Capital Facility to the Working Capital Facility. We had letters of credit of $182.1 million on the Working Capital Facility at December 31, 2017 . At December 31, 2017 , the borrowings under the Credit Agreement had a weighted average interest rate of 4.90% , calculated as the weighted average LIBOR rate of 1.53% plus a margin of 3.00% for LIBOR borrowings and the prime rate of 4.50% plus a margin of 2.00% on alternate base rate borrowings. At December 31, 2017 , the interest rate in effect on letters of credit was 3.00% . Commitment fees were charged at a rate ranging from 0.375% to 0.50% on any unused capacity. On June 2, 2017, we amended our Credit Agreement. The amendment, among other things, restricts us from increasing our distribution rate over the amount paid in the preceding quarter if our leverage ratio is greater than 4.25 to 1. In addition, the Credit Agreement contains covenants that require us to satisfy certain debt ratios, which are summarized in the table below. Senior Secured Interest Period Beginning Leverage Ratio (1) Leverage Ratio (1) Coverage Ratio (2) December 31, 2017 5.50 2.50 2.25 March 31, 2018 4.75 3.25 2.75 March 31, 2019 and thereafter 4.50 3.25 2.75 (1) Amount represents the maximum ratio for the period presented. (2) Amount represents the minimum ratio for the period presented. On February 5, 2018, we amended our Credit Agreement. The amendment, among other things, amended the defined term “Consolidated EBITDA” to include the “Accrued Blenders Tax Credits” (as defined in the Credit Agreement) solely for the two quarters ending December 31, 2017 and March 31, 2018. At December 31, 2017 , our leverage ratio was approximately 5.13 to 1 , our senior secured leverage ratio was approximately 0.35 to 1 and our interest coverage ratio was approximately 2.32 to 1 . At December 31, 2017 , we were in compliance with the covenants under the Credit Agreement. Senior Secured Notes On August 2, 2017, we amended the note purchase agreement for our senior secured notes with an effective date of June 2, 2017. The amendment, among other things, conforms the financial covenants to match the amended terms of the Credit Agreement and provides for an increase in interest charged if our leverage ratio exceeds certain predetermined levels. In addition, the amendment also restricts us from increasing our distribution rate over the amount paid in the preceding quarter if our interest coverage ratio is less than 3.00 to 1. Repurchases On December 29, 2017, we repurchased all of the remaining outstanding Senior Secured Notes. The following table summarizes repurchases of Senior Secured Notes for the periods indicated: Three Months Ended Nine Months Ended December 31, December 31, 2017 2017 (in thousands) Senior Secured Notes Notes repurchased $ 175,500 $ 230,500 Cash paid (excluding payments of accrued interest) $ 192,979 $ 250,179 Loss on early extinguishment of debt (1) $ (20,807 ) $ (23,971 ) (1) Loss on the early extinguishment of debt for the Senior Secured Notes during the three months and nine months ended December 31, 2017 are net of debt issuance costs of $3.3 million and $4.3 million , respectively. Prior to the December 29, 2017 repurchase of all of the remaining outstanding Senior Secured Notes, we made a semi-annual principal installment payment of $19.5 million on December 19, 2017. Senior Unsecured Notes Registration Rights In connection with the issuance of the 7.50% senior notes due 2023 (the “2023 Notes”) and the 6.125% senior notes due 2025 (the “2025 Notes”), we entered into a registration rights agreement in which we agreed to file a registration statement with the SEC so that the holders can exchange the 2023 Notes and the 2025 Notes for registered notes that have substantially identical terms as the 2023 Notes and the 2025 Notes and evidence the same indebtedness of the 2023 Notes and the 2025 Notes. In addition, the subsidiary guarantors agreed to exchange the guarantee related to the 2023 Notes and the 2025 Notes for a registered guarantee having substantially the same terms as the original guarantee. We filed a registration statement for both the 2023 Notes and the 2025 Notes, and the related guarantees, with the SEC which became effective on July 11, 2017 and 99.98% of the 2023 Notes and 99.98% of the 2025 Notes were exchanged on August 8, 2017. Repurchases The following table summarizes repurchases of Senior Unsecured Notes for the periods indicated: Three Months Ended Nine Months Ended December 31, December 31, 2017 2017 (in thousands) 2019 Notes Notes repurchased $ — $ 18,677 Cash paid (excluding payments of accrued interest) $ — $ 18,641 Loss on early extinguishment of debt (1) $ — $ (102 ) 2023 Notes Notes repurchased $ 16,954 $ 43,411 Cash paid (excluding payments of accrued interest) $ 17,434 $ 42,893 Loss on early extinguishment of debt (2) $ (730 ) $ (135 ) 2025 Notes Notes repurchased $ 71,793 $ 87,493 Cash paid (excluding payments of accrued interest) $ 70,248 $ 84,356 Gain on early extinguishment of debt (3) $ 396 $ 1,729 (1) Loss on the early extinguishment of debt for the 2019 Notes during the nine months ended December 31, 2017 are net of debt issuance costs of $0.1 million . (2) Loss on the early extinguishment of debt for the 2023 Notes during the three months and nine months ended December 31, 2017 are net of debt issuance costs of $0.2 million and $0.7 million , respectively. (3) Gain on the early extinguishment of debt for the 2025 Notes during the three months and nine months ended December 31, 2017 are net of debt issuance costs of $1.1 million and $1.4 million , respectively. At December 31, 2017 , we were in compliance with the covenants under the indentures for all of the senior unsecured notes . Other Long-Term Debt We have executed various non-interest bearing notes payable, primarily related to non-compete agreements entered into in connection with acquisitions of businesses. These instruments have an aggregate principal balance of $5.4 million at December 31, 2017 , and the implied interest rates on these instruments range from 1.91% to 7.00% per year. We also have certain notes payable related to equipment financing. These instruments have an aggregate principal balance of $6.3 million at December 31, 2017 , and the interest rates on these instruments range from 4.13% to 7.10% per year. Debt Maturity Schedule The scheduled maturities of our long-term debt are as follows at December 31, 2017 : Fiscal Year Ending March 31, Revolving Senior Unsecured Notes Other Total (in thousands) 2018 (three months) $ — $ — $ 604 $ 604 2019 — — 2,939 2,939 2020 — 360,781 2,318 363,099 2021 — — 5,470 5,470 2022 1,139,500 367,048 286 1,506,834 Thereafter — 1,069,096 67 1,069,163 Total $ 1,139,500 $ 1,796,925 $ 11,684 $ 2,948,109

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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 unaudited condensed consolidated balance sheet at December 31, 2017 includes a liability, measured on an undiscounted basis, of $2.3 million related to environmental matters, which is recorded within accrued expenses and other payables in our unaudited condensed consolidated balance sheet. 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. As previously disclosed, the U.S. Environmental Protection Agency (“EPA”) had informed NGL Crude Logistics, LLC, formerly known as Gavilon, LLC (“Gavilon Energy”), of alleged violations in 2011 by Gavilon Energy of the Clean Air Act’s renewable fuel standards regulations (prior to its acquisition by us in December 2013). On October 4, 2016, the U.S. Department of Justice, acting at the request of the EPA, filed a civil complaint in the Northern District of Iowa against Gavilon Energy and one of its then suppliers, Western Dubuque Biodiesel LLC (“Western Dubuque”). Consistent with the earlier allegations by the EPA, the civil complaint related to transactions between Gavilon Energy and Western Dubuque and the generation of biodiesel renewable identification numbers (“RINs”) sold by Western Dubuque to Gavilon Energy in 2011. On December 19, 2016, we filed a motion to dismiss the complaint. On January 9, 2017, the EPA filed an amended complaint. The amended complaint seeks an order declaring Western Dubuque’s RINs invalid and requiring the defendants to retire an equivalent number of valid RINs and that the defendants pay statutory civil penalties. On January 23, 2017, we filed a motion to dismiss the amended complaint, which was denied on May 24, 2017. On October 17, 2017, the EPA filed a motion for partial summary judgment against Gavilon Energy. Consistent with our position against the previous EPA allegations, we deny the allegations in the amended civil complaint and that the EPA is entitled to summary judgment and we intend to continue vigorously defending ourselves in the civil action. However, at this time we are unable to determine the outcome of this action or its significance to us. Asset Retirement Obligations We have 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. The following table summarizes changes in our asset retirement obligation, which is reported within other noncurrent liabilities in our unaudited condensed consolidated balance sheets (in thousands): Balance at March 31, 2017 $ 8,181 Liabilities incurred 422 Liabilities assumed in acquisitions 21 Liabilities settled (549 ) Accretion expense 655 Balance at December 31, 2017 $ 8,730 In addition to the obligations described above, we may be obligated to remove facilities or perform other remediation upon retirement of certain other assets. However, the fair value of the asset retirement obligation cannot currently be reasonably estimated because the settlement dates are indeterminable. We will record an asset retirement obligation for these assets in the periods in which settlement dates are reasonably determinable. 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, 2017 (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 34,721 2019 120,928 2020 107,342 2021 93,662 2022 66,036 Thereafter 94,023 Total $ 516,712 Rental expense relating to operating leases was $31.1 million and $32.0 million during the three months ended December 31, 2017 and 2016 , respectively, and $94.9 million and $88.9 million during the nine months ended December 31, 2017 and 2016 , respectively. Pipeline Capacity Agreements We have executed noncancelable agreements with crude oil 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. Under certain agreements we have the ability to recover minimum shipping fees previously paid if our shipping volumes exceed the minimum monthly shipping commitment during each month remaining under the agreement, with some contracts containing provisions that allow us to continue shipping up to six months after the maturity date of the contract in order to recapture previously paid minimum shipping delinquency fees. We currently have an asset recorded in other noncurrent assets in our unaudited condensed consolidated balance sheet for minimum shipping fees paid in previous periods that are expected to be recovered in future periods by exceeding the minimum monthly volumes (see Note 2 ). The following table summarizes future minimum throughput payments under these agreements at December 31, 2017 (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 13,001 2019 52,042 2020 42,351 Total $ 107,394 Construction Commitments At December 31, 2017 , we had construction commitments of $6.2 million . 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. At December 31, 2017 , we had the following commodity purchase commitments (in thousands): Crude Oil (1) Natural Gas Liquids Value Volume Value Volume Fixed-Price Commodity Purchase Commitments: 2018 (three months) $ 51,001 899 $ 20,600 26,213 2019 — — 1,341 2,268 Total $ 51,001 899 $ 21,941 28,481 Index-Price Commodity Purchase Commitments: 2018 (three months) $ 427,214 7,386 $ 310,124 319,467 2019 790,287 14,640 46,559 50,644 2020 511,636 10,395 — — 2021 438,851 9,314 — — 2022 357,603 7,729 — — Thereafter 447,158 9,592 — — Total $ 2,972,749 59,056 $ 356,683 370,111 (1) Our crude oil index-price purchase commitments exceed our crude oil index-price sales commitments (presented below) due primarily to our long-term purchase commitments for crude oil that we purchase and ship on the Grand Mesa pipeline. As these purchase commitments are deliver-or-pay contracts, we have not entered into corresponding long-term sales contracts for volumes we may not receive. At December 31, 2017 , we had the following commodity sale commitments (in thousands): Crude Oil Natural Gas Liquids Value Volume Value Volume Fixed-Price Commodity Sale Commitments: 2018 (three months) $ 63,247 1,149 $ 94,582 103,982 2019 — — 9,521 12,298 2020 — — 162 215 Total $ 63,247 1,149 $ 104,265 116,495 Index-Price Commodity Sale Commitments: 2018 (three months) $ 468,661 7,872 $ 285,758 247,918 2019 389,596 7,311 7,914 7,685 2020 59,885 1,070 — — Total $ 918,142 16,253 $ 293,672 255,603 We account for the contracts shown in the tables above using the normal purchase and normal sale election . 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 tables above may have offsetting derivative contracts (described in Note 11 ) or inventory positions (described in 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 unaudited condensed consolidated balance sheet and are not included in the tables above. These contracts are included in the derivative disclosures in Note 11 , and represent $33.4 million of our prepaid expenses and other current assets and $31.7 million of our accrued expenses and other payables at December 31, 2017 .

Equity

Equity	9 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Equity	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 has the right, but not the obligation, to contribute a proportionate amount of capital to us to maintain its 0.1% general partner interest. Our general partner is not required to guarantee or pay any of our debts and obligations. General Partner Contributions In connection with the issuance of common units for the vesting of restricted units and the warrants that were exercised for common units during the nine months ended December 31, 2017 , we issued 905 notional units to our general partner for less than $0.1 million in order to maintain its 0.1% interest in us. Common Unit Repurchase Program On August 29, 2017 , the board of directors of our general partner authorized a common unit repurchase program, under which we may repurchase up to $15.0 million of our outstanding common units through December 31, 2017 from time to time in the open market or in other privately negotiated transactions . During the three months ended December 31, 2017 , we repurchased 323,213 common units for an aggregate price of $3.8 million , including commissions. During the nine months ended December 31, 2017 , we repurchased 1,516,848 common units for an aggregate price of $15.0 million , including commissions. Our Distributions The following table summarizes distributions declared on our common units during the last four quarters: Date Declared Record Date Date Paid/Payable Amount Per Unit Amount Paid/Payable to Limited Partners Amount Paid/Payable to General Partner (in thousands) (in thousands) April 24, 2017 May 8, 2017 May 15, 2017 $ 0.3900 $ 46,870 $ 80 July 20, 2017 August 4, 2017 August 14, 2017 $ 0.3900 $ 47,460 $ 81 October 19, 2017 November 6, 2017 November 14, 2017 $ 0.3900 $ 47,000 $ 81 January 23, 2018 February 6, 2018 February 14, 2018 $ 0.3900 $ 47,223 $ 81 Class A Convertible Preferred Units On April 21, 2016, we received net proceeds of $235.0 million (net of offering costs of $5.0 million ) in connection with the issuance of 19,942,169 Class A Convertible Preferred Units (“Class A Preferred Units”) and 4,375,112 warrants. We allocated the net proceeds on a relative fair value basis to the Class A Preferred Units, which includes the value of a beneficial conversion feature, and the warrants. Accretion for the beneficial conversion feature, recorded as a deemed distribution, was $5.0 million and $2.5 million during the three months ended December 31, 2017 and 2016 , respectively, and $12.3 million and $6.3 million during the nine months ended December 31, 2017 and 2016 , respectively. The holders of the warrants may exercise one-third of the warrants from and after the first anniversary of the original issue date, another one-third of the warrants from and after the second anniversary and the final one-third of the warrants from and after the third anniversary. The warrants have an exercise price of $0.01 and an eight year term. During the nine months ended December 31, 2017 , 607,653 warrants were exercised for common units and we received proceeds of less than $0.1 million . In addition, we repurchased 850,716 unvested warrants for a total purchase price of $10.5 million on June 23, 2017. As of December 31, 2017 , we had 2,916,743 warrants outstanding. We pay a cumulative, quarterly distribution in arrears at an annual rate of 10.75% on the Class A Preferred Units to the extent declared by the board of directors of our general partner. The following table summarizes distributions declared on our Class A Preferred Units during the last four quarters: Amount Paid/Payable to Class A Date Declared Date Paid/Payable Preferred Unitholders (in thousands) April 24, 2017 May 15, 2017 $ 6,449 July 20, 2017 August 14, 2017 $ 6,449 October 19, 2017 November 14, 2017 $ 6,449 January 23, 2018 February 14, 2018 $ 6,449 Class B Preferred Units During the nine months ended December 31, 2017 , we issued 8,400,000 of our 9.00% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class B Preferred Units”) representing limited partner interests at a price of $25.00 per unit for net proceeds of $202.7 million (net of the underwriters’ discount of $6.6 million and offering costs of $0.7 million ). At any time on or after July 1, 2022, we may redeem our Class B Preferred Units, in whole or in part, at a redemption price of $25.00 per Class B Preferred Unit plus an amount equal to all accumulated and unpaid distributions to, but not including, the date of redemption, whether or not declared. We may also redeem the Class B Preferred Units upon a change of control as defined in our partnership agreement. If we choose not to redeem the Class B Preferred Units, the Class B preferred unitholders may have the ability to convert the Class B Preferred Units to common units at the then applicable conversion rate. Class B preferred unitholders have no voting rights except with respect to certain matters set forth in our partnership agreement. Distributions on the Class B Preferred Units are payable on the 15th day of each January, April, July and October of each year to holders of record on the first day of each payment month. The initial distribution rate for the Class B Preferred Units from and including the date of original issue to, but not including, July 1, 2022 is 9.00% per year of the $25.00 liquidation preference per unit (equal to $2.25 per unit per year). On and after July 1, 2022, distributions on the Class B Preferred Units will accumulate at a percentage of the $25.00 liquidation preference equal to the applicable three-month LIBOR plus a spread of 7.213%. On September 18, 2017 , the board of directors of our general partner declared a distribution for the three months ended September 30, 2017 of $5.7 million . The distribution was paid to the holders of the Class B Preferred Units on October 16, 2017 . On December 19, 2017 , the board of directors of our general partner declared a distribution for the three months ended December 31, 2017 of $4.7 million to the holders of record on December 29, 2017 . The distribution amount is included in accrued expenses and other payables in our unaudited condensed consolidated balance sheet at December 31, 2017. The distribution was paid to the holders of the Class B Preferred Units on January 15, 2018 . Amended and Restated Partnership Agreement On June 13, 2017, NGL Energy Holdings LLC executed the Fourth Amended and Restated Agreement of Limited Partnership. The preferences, rights, powers and duties of holders of the Class B Preferred Units are defined in the amended and restated partnership agreement. The Class B Preferred Units rank senior to the common units, with respect to the payment of distributions and distribution of assets upon liquidation, dissolution and winding up, and are on parity with the Class A Preferred Units. The Class B Preferred Units have no stated maturity but we may redeem the Class B Preferred Units at any time on or after July 1, 2022 or upon the occurrence of a change in control. At-The-Market Program On August 24, 2016, we entered into an equity distribution agreement in connection with an at-the-market program (the “ATM Program”) pursuant to which we may issue and sell up to $200.0 million of common units. We did not issue any common units under the ATM Program during the nine months ended December 31, 2017 , and approximately $134.7 million remained available for sale under the ATM Program at December 31, 2017 . Equity-Based Incentive Compensation Our general partner has adopted a long-term incentive plan (“LTIP”), which allows for the issuance of equity-based compensation. Our general partner has granted certain restricted units to employees and directors, which vest in tranches, subject to the continued service of the recipients. The awards may also vest upon a change of control, at the discretion of the board of directors of our general partner. No distributions accrue to or are paid on the restricted units during the vesting period. The restricted units include both awards that: (i) vest contingent on the continued service of the recipients through the vesting date (the “Service Awards”) and (ii) vest contingent both on 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”). On April 1, 2017, we made an accounting policy election to account for actual forfeitures, rather than estimate forfeitures each period (as previously required). As a result, the cumulative effect adjustment, which represents the differential between the amount of compensation expense previously recorded and the amount that would have been recorded without assuming forfeitures, had no impact on our consolidated financial statements. The following table summarizes the Service Award activity during the nine months ended December 31, 2017 : Unvested Service Award units at March 31, 2017 2,708,500 Units granted 1,036,202 Units vested and issued (1,855,102 ) Units forfeited (90,000 ) Unvested Service Award units at December 31, 2017 1,799,600 In connection with the vesting of certain restricted units during the nine months ended December 31, 2017 , we canceled 41,650 of the newly-vested common units in satisfaction of $0.6 million of employee tax liability paid by us. Pursuant to the terms of the LTIP, these canceled units are available for future grants under the LTIP. The following table summarizes the scheduled vesting of our unvested Service Award units at December 31, 2017 : Fiscal Year Ending March 31, 2018 (three months) 315,500 2019 896,750 2020 584,600 2021 2,750 Total 1,799,600 Service Awards are valued at the closing price as of the grant date less the present value of the expected distribution stream over the vesting period using a risk-free interest rate. We record the expense for each Service Award on a straight-line basis over the requisite period for the entire award (that is, over the requisite service period of the last separately vesting portion of the award), ensuring that the amount of compensation cost recognized at any date at least equals the portion of the grant-date value of the award that is vested at that date. In December 2017, the compensation committee of the board of directors of our general partner decided that the vesting of all future grants would be split between dates in February and November instead of the entire grant vesting in July, which was the month the units generally vested. In addition, employees with unvested Service Awards were given an option to switch the vesting of their outstanding Service Awards and split the awards to vest in February and November or keep the vesting in July. For example, if an employee elected to change the vesting of their outstanding Service Awards, an award that was originally scheduled to vest in July 2018 would now be split so that half of the award will vest in February 2018 and the other half in November 2018. The Service Awards of individuals that elected to split the vesting are considered to be modified. The impact of the modification was not material to the current or future unit based compensation expense. During the three months ended December 31, 2017 and 2016 , we recorded compensation expense related to Service Award units of $3.1 million and $4.8 million , respectively. During the nine months ended December 31, 2017 and 2016 , we recorded compensation expense related to Service Award units of $11.7 million and $51.5 million , respectively. Of the restricted units granted and vested during the nine months ended December 31, 2017 , 964,702 units were granted as a bonus for performance during the fiscal year ended March 31, 2017 . The total amount of these bonus payments were $12.4 million , of which we had accrued $5.5 million as of March 31, 2017 . The following table summarizes the estimated future expense we expect to record on the unvested Service Award units at December 31, 2017 (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 3,586 2019 8,909 2020 3,175 2021 18 Total $ 15,688 During April 2015, our general partner granted Performance Award units to certain employees. 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. As of December 31, 2017 , performance will be measured over the following periods: Vesting Date of Tranche Performance Period for Tranche July 1, 2018 July 1, 2015 through June 30, 2018 July 1, 2019 July 1, 2016 through June 30, 2019 The following table summarizes the Performance Award activity during the nine months ended December 31, 2017 : Unvested Performance Award units at March 31, 2017 1,189,000 Units forfeited (426,000 ) Unvested Performance Award units at December 31, 2017 763,000 During the July 1, 2014 through June 30, 2017 performance period, the return on our common units was below the return of the 50th percentile of our peer companies in the Index. As a result, no Performance Award units vested on July 1, 2017 and performance units with the July 1, 2017 vesting date are considered to be forfeited. The fair value of the Performance Awards is estimated using a Monte Carlo simulation at the grant date. 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. Any Performance Awards that do not become earned Performance Awards will terminate, expire and otherwise be forfeited by the participants. During the three months ended December 31, 2017 and 2016 , we recorded compensation expense related to Performance Award units of $1.1 million and $2.1 million , respectively. During the nine months ended December 31, 2017 and 2016 , we recorded compensation expense related to Performance Awards units of $4.5 million and $5.2 million , respectively. The following table summarizes the estimated future expense we expect to record on the unvested Performance Award units at December 31, 2017 (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 1,266 2019 3,078 2020 624 Total $ 4,968 At December 31, 2017 , approximately 2.4 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, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	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 unaudited condensed consolidated balance sheet at the dates indicated: December 31, 2017 March 31, 2017 Derivative Derivative Derivative Derivative (in thousands) Level 1 measurements $ 9,981 $ (41,702 ) $ 2,590 $ (21,113 ) Level 2 measurements 33,645 (37,382 ) 38,729 (27,799 ) 43,626 (79,084 ) 41,319 (48,912 ) Netting of counterparty contracts (1) (8,470 ) 8,470 (1,508 ) 1,508 Net cash collateral (held) provided (791 ) 33,233 (1,035 ) 19,604 Commodity derivatives $ 34,365 $ (37,381 ) $ 38,776 $ (27,800 ) (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 unaudited condensed consolidated balance sheets at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Prepaid expenses and other current assets $ 34,283 $ 38,711 Other noncurrent assets 82 65 Accrued expenses and other payables (34,713 ) (27,622 ) Other noncurrent liabilities (2,668 ) (178 ) Net commodity derivative (liability) asset $ (3,016 ) $ 10,976 The following table summarizes our open commodity derivative contract positions at the dates indicated. We do not account for these derivatives as hedges. Contracts Settlement Period Net Long Fair Value (in thousands) At December 31, 2017: Cross-commodity (1) January 2018–March 2018 (21 ) $ (1,587 ) Crude oil fixed-price (2) January 2018–December 2019 (1,243 ) (7,536 ) Propane fixed-price (2) January 2018–December 2018 210 1,942 Refined products fixed-price (2) January 2018–January 2020 (4,743 ) (29,363 ) Refined products index (2) January 2018–June 2018 (13 ) (51 ) Other January 2018–March 2022 1,137 (35,458 ) Net cash collateral provided 32,442 Net commodity derivative liability $ (3,016 ) At March 31, 2017: Crude oil fixed-price (2) April 2017–May 2017 (800 ) $ (55 ) Propane fixed-price (2) April 2017–December 2018 220 1,082 Refined products fixed-price (2) April 2017–January 2019 (4,682 ) (7,729 ) Refined products index (2) April 2017–December 2017 (18 ) (103 ) Other April 2017–March 2022 (788 ) (7,593 ) Net cash collateral provided 18,569 Net commodity derivative asset $ 10,976 (1) 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) 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. During the three months and nine months ended December 31, 2017 , we recorded net losses of $64.9 million and $99.8 million , respectively, and during the three months and nine months ended December 31, 2016 , we recorded net losses of $57.7 million and $102.6 million , respectively, from our commodity derivatives to cost of sales in our unaudited condensed consolidated statements of operations. 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, 2017 , 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 unaudited 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, 2017 , we had $1.1 billion of outstanding borrowings under our Revolving Credit Facility at a weighted average interest rate of 4.90% . Fair Value of Fixed-Rate Notes The following table provides fair value estimates of our fixed-rate notes at December 31, 2017 (in thousands): Senior unsecured notes: 5.125% Notes due 2019 $ 367,997 6.875% Notes due 2021 $ 374,045 7.500% Notes due 2023 $ 681,621 6.125% Notes due 2025 $ 405,804 For the senior unsecured notes, the fair value estimates were developed based on publicly traded quotes and would be classified as Level 1 in the fair value hierarchy.

Segments

Segments	9 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Segments	Segments The following table summarizes certain financial data related to our segments. Transactions between segments are recorded based on prices negotiated between the segments. The “Corporate and Other” category in the table below includes certain corporate expenses that are not allocated to the reportable segments. Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands) Revenues: Crude Oil Logistics: Crude oil sales $ 556,001 $ 366,569 $ 1,446,560 $ 1,123,169 Crude oil transportation and other 33,017 20,914 89,318 43,020 Elimination of intersegment sales (4,011 ) (1,577 ) (8,934 ) (4,447 ) Total Crude Oil Logistics revenues 585,007 385,906 1,526,944 1,161,742 Water Solutions: Service fees 41,045 28,268 109,648 82,493 Recovered hydrocarbons 17,021 6,387 37,427 19,264 Other revenues 5,958 5,704 14,948 14,088 Total Water Solutions revenues 64,024 40,359 162,023 115,845 Liquids: Propane sales 403,236 260,562 733,684 458,646 Butane sales 228,535 146,514 408,312 267,769 Other product sales 123,677 89,225 310,389 217,405 Other revenues 6,166 7,704 16,106 22,926 Elimination of intersegment sales (52,570 ) (33,730 ) (88,510 ) (57,162 ) Total Liquids revenues 709,044 470,275 1,379,981 909,584 Retail Propane: Propane sales 124,466 96,699 221,102 174,510 Distillate sales 22,806 19,569 39,037 35,613 Other revenues 12,797 12,418 31,733 30,056 Elimination of intersegment sales (44 ) (32 ) (75 ) (48 ) Total Retail Propane revenues 160,025 128,654 291,797 240,131 Refined Products and Renewables: Refined products sales 2,845,482 2,258,317 8,493,357 6,409,889 Renewables sales 99,436 123,065 313,366 325,377 Service fees 94 50 262 11,195 Elimination of intersegment sales (138 ) (149 ) (268 ) (293 ) Total Refined Products and Renewables revenues 2,944,874 2,381,283 8,806,717 6,746,168 Corporate and Other 289 164 696 679 Total revenues $ 4,463,263 $ 3,406,641 $ 12,168,158 $ 9,174,149 Depreciation and Amortization: Crude Oil Logistics $ 20,092 $ 16,503 $ 61,885 $ 34,496 Water Solutions 24,586 27,150 73,847 76,713 Liquids 6,247 4,441 18,718 13,315 Retail Propane 11,130 11,379 34,205 31,771 Refined Products and Renewables 323 404 971 1,237 Corporate and Other 962 890 2,801 2,744 Total depreciation and amortization $ 63,340 $ 60,767 $ 192,427 $ 160,276 Operating Income (Loss): Crude Oil Logistics $ 106,279 $ (9,163 ) $ 111,832 $ (28,827 ) Water Solutions (1,373 ) (11,898 ) (10,075 ) 63,136 Liquids 22,290 24,765 (104,589 ) 33,092 Retail Propane 23,972 21,772 8,878 10,553 Refined Products and Renewables (4,791 ) 8,209 30,747 169,365 Corporate and Other (21,846 ) (11,128 ) (56,031 ) (66,690 ) Total operating income (loss) $ 124,531 $ 22,557 $ (19,238 ) $ 180,629 The following table summarizes additions to property, plant and equipment and intangible assets by segment for the periods indicated. This information has been prepared on the accrual basis, and includes property, plant and equipment and intangible assets acquired in acquisitions. Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands) Crude Oil Logistics $ 14,788 $ 42,758 $ 26,509 $ 147,460 Water Solutions 22,556 18,275 56,996 86,628 Liquids 1,188 1,736 2,868 14,897 Retail Propane 14,527 16,196 49,242 94,170 Refined Products and Renewables — (945 ) — 42,175 Corporate and Other 625 375 1,334 2,107 Total $ 53,684 $ 78,395 $ 136,949 $ 387,437 The following tables summarize long-lived assets (consisting of property, plant and equipment, intangible assets, and goodwill) and total assets by segment at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Long-lived assets, net: Crude Oil Logistics $ 1,661,020 $ 1,724,805 Water Solutions 1,239,578 1,261,944 Liquids 485,454 619,204 Retail Propane 457,031 547,960 Refined Products and Renewables 210,534 215,637 Corporate and Other 33,338 36,395 Total $ 4,086,955 $ 4,405,945 Total assets: Crude Oil Logistics $ 2,269,632 $ 2,538,768 Water Solutions 1,303,873 1,301,415 Liquids 901,904 767,597 Retail Propane 660,850 622,859 Refined Products and Renewables 1,087,499 988,073 Corporate and Other 92,628 101,667 Total $ 6,316,386 $ 6,320,379

Transactions with Affiliates

Transactions with Affiliates	9 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Transactions with Affiliates	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 unaudited condensed consolidated statements of operations. We also lease crude oil storage from SemGroup. We purchase ethanol from E Energy Adams, LLC, an equity method investee (see Note 2 ). These transactions are reported within cost of sales in our unaudited condensed consolidated statements of operations. Certain members of our management and members of their families as well as other associated parties 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, 2017 , $0.8 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 for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands) Sales to SemGroup $ 178 $ 150 $ 408 $ 3,734 Purchases from SemGroup $ 1,050 $ 1,911 $ 3,978 $ 5,874 Sales to equity method investees $ 98 $ 95 $ 294 $ 595 Purchases from equity method investees $ 18,373 $ 33,538 $ 66,842 $ 91,530 Sales to entities affiliated with management $ 64 $ 53 $ 204 $ 205 Purchases from entities affiliated with management $ 193 $ 2,580 $ 1,540 $ 14,316 Accounts receivable from affiliates consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Receivables from SemGroup $ 83 $ 6,668 Receivables from NGL Energy Holdings LLC 3,413 — Receivables from equity method investees 2 15 Receivables from entities affiliated with management 19 28 Total $ 3,517 $ 6,711 Amounts as of December 31, 2017 in the table above exclude accounts receivable from affiliates related to the potential sale of a portion of the Retail Propane segment, as these amounts have been classified as current assets held for sale in our unaudited condensed consolidated balance sheet (see Note 14 ). Accounts payable to affiliates consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Payables to SemGroup $ 390 $ 6,571 Payables to equity method investees 81 1,306 Payables to entities affiliated with management 3 41 Total $ 474 $ 7,918 At December 31, 2017 and March 31, 2017 , we had a loan receivable from Victory Propane, an equity method investee (see Note 2 ), of $0.3 million (net of our proportionate share of their losses of $0.2 million , as described in Note 2 ) and $3.2 million , respectively, with an initial maturity date of March 31, 2021, which can be extended for successive one -year periods unless one of the parties terminates the loan agreement. Other Related Party Transactions On June 23, 2017, we repurchased outstanding warrants, as discussed further in Note 10 , from funds managed by Oaktree Capital Management, L.P., who are represented on the board of directors of our general partner. During the three months ended December 31, 2017 we completed a transaction with Victory Propane, an equity method investee (See Note 2 ), to purchase Victory Propane’s Michigan assets. We paid Victory Propane $6.4 million in cash and received current assets, property, plant and equipment and customers. The allocation of the consideration was as follows: Current assets $ 276 Property, plant and equipment 1,366 Intangible assets (customer relationships) 4,782 Fair value of net assets acquired $ 6,424 Victory Propane recognized a gain on this transaction. As all intra-entity profits and losses are eliminated between an investor and investee until realized, we have eliminated our proportionate share of the gain from this transaction on our books. As a result, our underlying equity in the net assets of Victory Propane exceeds our investment (see Note 2 ), and this difference will be amortized as income over the remaining life of the noncurrent assets acquired or until they are sold. Victory Propane used a portion of the proceeds to pay off the outstanding balance of their note payable to us of $4.2 million and paid $2.0 million in distributions to the owners, including us.

Assets and Liabilities Held for

Assets and Liabilities Held for Sale	9 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Held for Sale	Assets and Liabilities Held for Sale Potential Sale of a Portion of Retail Propane Business On November 7, 2017, we entered into a definitive agreement with DCC LPG, a division of DCC plc, to sell a portion of our Retail Propane segment for $200 million in cash, adjusted for working capital at closing. We will retain this business through closing, which is expected to be March 31, 2018. The Retail Propane businesses subject to this transaction are comprised of our operations across the Mid-Continent and Western portions of the United States. We will retain our Retail Propane businesses located in the Eastern and Southeastern section of the United States. At December 31, 2017, we met the criteria for classifying the assets and liabilities of the Retail Propane businesses subject to this transaction as held for sale in our unaudited condensed consolidated balance sheet. As a result, we have not recorded any depreciation or amortization expense for the Retail Propane businesses subject to this transaction since they were classified as held for sale. In November 2017, we received a deposit of $20 million from DCC LPG related to the sale which is recorded in accrued expenses and other payables in our December 31, 2017 unaudited condensed consolidated balance sheet. As part of the agreement, we issued a letter of credit to DCC LPG for the amount of their deposit. The following table summarizes the major classes of assets and liabilities classified as held for sale at December 31, 2017 (in thousands): Assets Held for Sale Cash and cash equivalents $ 1,985 Accounts receivable-trade, net 13,336 Accounts receivable-affiliates 1 Inventories 6,273 Prepaid expenses and other current assets 2,437 Property, plant and equipment, net 61,137 Goodwill 24,959 Intangible assets, net 21,463 Total assets held for sale $ 131,591 Liabilities Held for Sale Accounts payable-trade $ 686 Accrued expenses and other payables 2,565 Advance payments received from customers 13,163 Other liabilities 160 Total liabilities held for sale $ 16,574 As this sale transaction does not represent a strategic shift that will have a major effect on our operations or financial results, operations related to this portion of our Retail Propane segment have not been classified as discontinued operations. The Retail Propane businesses subject to this transaction had income before taxes of $3.4 million for the nine months ended December 31, 2017 .

Unaudited Condensed Consolidati

Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information	9 Months Ended
	Dec. 31, 2017
Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information [Abstract]
Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information	Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information Certain of our wholly owned subsidiaries have, jointly and severally, fully and unconditionally guaranteed the senior unsecured notes (see Note 8 ). Pursuant to Rule 3-10 of Regulation S-X, we have presented in columnar format the unaudited condensed consolidating financial information for NGL Energy Partners LP (Parent), NGL Energy Finance Corp., the guarantor subsidiaries on a combined basis, and the non-guarantor subsidiaries on a combined basis in the tables below. NGL Energy Partners LP and NGL Energy Finance Corp. are co-issuers of the senior unsecured notes. Since NGL Energy Partners LP received the proceeds from the issuance of the senior unsecured notes, all activity has been reflected in the NGL Energy Partners LP (Parent) column in the tables below. During the periods presented in the tables below, the status of certain subsidiaries changed, in that they either became guarantors of or ceased to be guarantors of the senior unsecured notes. 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. 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 unaudited 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 unaudited condensed consolidating statement of cash flow tables below. Unaudited Condensed Consolidating Balance Sheet (in Thousands) December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 14,994 $ — $ 11,179 $ 2,296 $ — $ 28,469 Accounts receivable-trade, net of allowance for doubtful accounts — — 1,060,207 3,700 — 1,063,907 Accounts receivable-affiliates — — 3,517 — — 3,517 Inventories — — 644,154 946 — 645,100 Prepaid expenses and other current assets — — 97,058 337 — 97,395 Assets held for sale — — 131,742 — (151 ) 131,591 Total current assets 14,994 — 1,947,857 7,279 (151 ) 1,969,979 PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation — — 1,676,248 32,435 — 1,708,683 GOODWILL — — 1,300,560 12,757 — 1,313,317 INTANGIBLE ASSETS, net of accumulated amortization — — 1,051,683 13,272 — 1,064,955 INVESTMENTS IN UNCONSOLIDATED ENTITIES — — 16,369 — — 16,369 NET INTERCOMPANY RECEIVABLES (PAYABLES) 2,116,433 — (2,095,213 ) (21,220 ) — — INVESTMENTS IN CONSOLIDATED SUBSIDIARIES 1,727,675 — 24,623 — (1,752,298 ) — LOAN RECEIVABLE-AFFILIATE — — 318 — — 318 OTHER NONCURRENT ASSETS — — 242,765 — — 242,765 Total assets $ 3,859,102 $ — $ 4,165,210 $ 44,523 $ (1,752,449 ) $ 6,316,386 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable-trade $ — $ — $ 865,117 $ 1,651 $ — $ 866,768 Accounts payable-affiliates 1 — 473 — — 474 Accrued expenses and other payables 34,879 — 194,937 936 — 230,752 Advance payments received from customers — — 46,326 675 (151 ) 46,850 Current maturities of long-term debt — — 2,887 373 — 3,260 Liabilities held for sale — — 16,574 — — 16,574 Total current liabilities 34,880 — 1,126,314 3,635 (151 ) 1,164,678 LONG-TERM DEBT, net of debt issuance costs and current maturities 1,774,042 — 1,147,180 744 — 2,921,966 OTHER NONCURRENT LIABILITIES — — 164,041 4,240 — 168,281 CLASS A 10.75% CONVERTIBLE PREFERRED UNITS 76,056 — — — — 76,056 REDEEMABLE NONCONTROLLING INTEREST — — — 4,011 — 4,011 EQUITY: Partners’ equity 1,974,124 — 1,728,919 32,127 (1,759,568 ) 1,975,602 Accumulated other comprehensive loss — — (1,244 ) (234 ) — (1,478 ) Noncontrolling interests — — — — 7,270 7,270 Total equity 1,974,124 — 1,727,675 31,893 (1,752,298 ) 1,981,394 Total liabilities and equity $ 3,859,102 $ — $ 4,165,210 $ 44,523 $ (1,752,449 ) $ 6,316,386 Unaudited Condensed Consolidating Balance Sheet (in Thousands) March 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 6,257 $ — $ 2,903 $ 3,104 $ — $ 12,264 Accounts receivable-trade, net of allowance for doubtful accounts — — 795,479 5,128 — 800,607 Accounts receivable-affiliates — — 6,711 — — 6,711 Inventories — — 560,769 663 — 561,432 Prepaid expenses and other current assets — — 102,703 490 — 103,193 Total current assets 6,257 — 1,468,565 9,385 — 1,484,207 PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation — — 1,725,383 64,890 — 1,790,273 GOODWILL — — 1,437,759 13,957 — 1,451,716 INTANGIBLE ASSETS, net of accumulated amortization — — 1,149,524 14,432 — 1,163,956 INVESTMENTS IN UNCONSOLIDATED ENTITIES — — 187,423 — — 187,423 NET INTERCOMPANY RECEIVABLES (PAYABLES) 2,424,730 — (2,408,189 ) (16,541 ) — — INVESTMENTS IN CONSOLIDATED SUBSIDIARIES 1,978,158 — 47,598 — (2,025,756 ) — LOAN RECEIVABLE-AFFILIATE — — 3,200 — — 3,200 OTHER NONCURRENT ASSETS — — 239,436 168 — 239,604 Total assets $ 4,409,145 $ — $ 3,850,699 $ 86,291 $ (2,025,756 ) $ 6,320,379 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable-trade $ — $ — $ 657,077 $ 944 $ — $ 658,021 Accounts payable-affiliates 1 — 7,907 10 — 7,918 Accrued expenses and other payables 42,150 — 164,012 963 — 207,125 Advance payments received from customers — — 35,107 837 — 35,944 Current maturities of long-term debt 25,000 — 4,211 379 — 29,590 Total current liabilities 67,151 — 868,314 3,133 — 938,598 LONG-TERM DEBT, net of debt issuance costs and current maturities 2,138,048 — 824,370 1,065 — 2,963,483 OTHER NONCURRENT LIABILITIES — — 179,857 4,677 — 184,534 CLASS A 10.75% CONVERTIBLE PREFERRED UNITS 63,890 — — — — 63,890 REDEEMABLE NONCONTROLLING INTEREST — — — 3,072 — 3,072 EQUITY: Partners’ equity 2,140,056 — 1,979,785 74,545 (2,052,502 ) 2,141,884 Accumulated other comprehensive loss — — (1,627 ) (201 ) — (1,828 ) Noncontrolling interests — — — — 26,746 26,746 Total equity 2,140,056 — 1,978,158 74,344 (2,025,756 ) 2,166,802 Total liabilities and equity $ 4,409,145 $ — $ 3,850,699 $ 86,291 $ (2,025,756 ) $ 6,320,379 Unaudited Condensed Consolidating Statement of Operations (in Thousands) Three Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated REVENUES $ — $ — $ 4,454,133 $ 10,818 $ (1,688 ) $ 4,463,263 COST OF SALES — — 4,269,586 4,910 (1,688 ) 4,272,808 OPERATING COSTS AND EXPENSES: Operating — — 82,468 2,378 — 84,846 General and administrative — — 29,033 185 — 29,218 Depreciation and amortization — — 61,961 1,379 — 63,340 (Gain) loss on disposal or impairment of assets, net — — (111,509 ) 29 — (111,480 ) Operating Income — — 122,594 1,937 — 124,531 OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — 3,426 — — 3,426 Interest expense (36,019 ) — (15,752 ) (228 ) 209 (51,790 ) Loss on early extinguishment of liabilities, net (21,141 ) — — — — (21,141 ) Other income, net — — 2,298 18 (209 ) 2,107 (Loss) Income Before Income Taxes (57,160 ) — 112,566 1,727 — 57,133 INCOME TAX EXPENSE — — (364 ) — — (364 ) EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES 113,416 — 1,214 — (114,630 ) — Net Income 56,256 — 113,416 1,727 (114,630 ) 56,769 LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (89 ) (89 ) LESS: NET INCOME ATTRIBUTABLE TO REDEEMABLE NONCONTROLLING INTERESTS (424 ) (424 ) LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS (16,219 ) (16,219 ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER (73 ) (73 ) NET INCOME ALLOCATED TO COMMON UNITHOLDERS $ 56,256 $ — $ 113,416 $ 1,727 $ (131,435 ) $ 39,964 Unaudited Condensed Consolidating Statement of Operations (in Thousands) Three Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated REVENUES $ — $ — $ 3,393,541 $ 14,249 $ (1,149 ) $ 3,406,641 COST OF SALES — — 3,226,175 2,996 (1,149 ) 3,228,022 OPERATING COSTS AND EXPENSES: Operating — — 72,911 4,070 — 76,981 General and administrative — — 18,090 190 — 18,280 Depreciation and amortization — — 58,091 2,676 — 60,767 Loss (gain) on disposal or impairment of assets, net — — 37 (3 ) — 34 Operating Income — — 18,237 4,320 — 22,557 OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — 1,279 — — 1,279 Interest expense (26,217 ) — (15,340 ) (98 ) 219 (41,436 ) Other income, net — — 20,206 20 (219 ) 20,007 (Loss) Income Before Income Taxes (26,217 ) — 24,382 4,242 — 2,407 INCOME TAX EXPENSE — — (1,114 ) — — (1,114 ) EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES 27,193 — 3,925 — (31,118 ) — Net Income 976 — 27,193 4,242 (31,118 ) 1,293 LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (317 ) (317 ) LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS (8,906 ) (8,906 ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER (22 ) (22 ) NET INCOME ALLOCATED TO COMMON UNITHOLDERS $ 976 $ — $ 27,193 $ 4,242 $ (40,363 ) $ (7,952 ) Unaudited Condensed Consolidating Statement of Operations (in Thousands) Nine Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated REVENUES $ — $ — $ 12,150,896 $ 20,261 $ (2,999 ) $ 12,168,158 COST OF SALES — — 11,679,386 9,250 (2,999 ) 11,685,637 OPERATING COSTS AND EXPENSES: Operating — — 231,376 5,909 — 237,285 General and administrative — — 77,190 499 — 77,689 Depreciation and amortization — — 188,893 3,534 — 192,427 (Gain) loss on disposal or impairment of assets, net — — (12,436 ) 1,194 — (11,242 ) Revaluation of liabilities — — 5,600 — — 5,600 Operating Loss — — (19,113 ) (125 ) — (19,238 ) OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — 7,270 — — 7,270 Interest expense (111,609 ) — (39,576 ) (681 ) 617 (151,249 ) Loss on early extinguishment of liabilities, net (22,479 ) — — — — (22,479 ) Other income, net — — 6,656 74 (617 ) 6,113 Loss Before Income Taxes (134,088 ) — (44,763 ) (732 ) — (179,583 ) INCOME TAX EXPENSE — — (934 ) — — (934 ) EQUITY IN NET LOSS OF CONSOLIDATED SUBSIDIARIES (46,389 ) — (692 ) — 47,081 — Net Loss (180,477 ) — (46,389 ) (732 ) 47,081 (180,517 ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (221 ) (221 ) LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NONCONTROLLING INTERESTS 261 261 LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS (42,001 ) (42,001 ) LESS: NET LOSS ALLOCATED TO GENERAL PARTNER 121 121 LESS: REPURCHASE OF WARRANTS (349 ) (349 ) NET LOSS ALLOCATED TO COMMON UNITHOLDERS $ (180,477 ) $ — $ (46,389 ) $ (732 ) $ 4,892 $ (222,706 ) Unaudited Condensed Consolidating Statement of Operations (in Thousands) Nine Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated REVENUES $ — $ — $ 9,142,575 $ 33,718 $ (2,144 ) $ 9,174,149 COST OF SALES — — 8,720,039 5,297 (2,144 ) 8,723,192 OPERATING COSTS AND EXPENSES: Operating — — 212,542 12,866 — 225,408 General and administrative — — 87,402 675 — 88,077 Depreciation and amortization — — 152,140 8,136 — 160,276 Gain on disposal or impairment of assets, net — — (203,406 ) (27 ) — (203,433 ) Operating Income — — 173,858 6,771 — 180,629 OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — 1,726 — — 1,726 Revaluation of investments — — (14,365 ) — — (14,365 ) Interest expense (58,907 ) — (46,238 ) (551 ) 380 (105,316 ) Gain on early extinguishment of liabilities, net 8,614 — 22,276 — — 30,890 Other income, net — — 26,196 44 (380 ) 25,860 (Loss) Income Before Income Taxes (50,293 ) — 163,453 6,264 — 119,424 INCOME TAX EXPENSE — — (2,036 ) — — (2,036 ) EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES 161,590 — 173 — (161,763 ) — Net Income 111,297 — 161,590 6,264 (161,763 ) 117,388 LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (6,091 ) (6,091 ) LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS (20,958 ) (20,958 ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER (180 ) (180 ) NET INCOME ALLOCATED TO COMMON UNITHOLDERS $ 111,297 $ — $ 161,590 $ 6,264 $ (188,992 ) $ 90,159 Unaudited Condensed Consolidating Statements of Comprehensive Income (Loss) (in Thousands) Three Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated Net income $ 56,256 $ — $ 113,416 $ 1,727 $ (114,630 ) $ 56,769 Other comprehensive inco me (loss) — — 795 (11 ) — 784 Comprehensive income $ 56,256 $ — $ 114,211 $ 1,716 $ (114,630 ) $ 57,553 Three Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated Net income $ 976 $ — $ 27,193 $ 4,242 $ (31,118 ) $ 1,293 Other comprehensive income (loss) — — 568 (23 ) — 545 Comprehensive income $ 976 $ — $ 27,761 $ 4,219 $ (31,118 ) $ 1,838 Nine Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated Net loss $ (180,477 ) $ — $ (46,389 ) $ (732 ) $ 47,081 $ (180,517 ) Other comprehensive inco me (loss) — — 383 (33 ) — 350 Comprehensive loss $ (180,477 ) $ — $ (46,006 ) $ (765 ) $ 47,081 $ (180,167 ) Nine Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated Net income $ 111,297 $ — $ 161,590 $ 6,264 $ (161,763 ) $ 117,388 Other comprehensive income (loss) — — 93 (33 ) — 60 Comprehensive income $ 111,297 $ — $ 161,683 $ 6,231 $ (161,763 ) $ 117,448 Unaudited Condensed Consolidating Statement of Cash Flows (in Thousands) Nine Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 415,012 $ — $ (447,316 ) $ 36,365 $ 4,061 INVESTING ACTIVITIES: Capital expenditures — — (97,971 ) (1,413 ) (99,384 ) Acquisitions, net of cash acquired — — (49,081 ) (400 ) (49,481 ) Cash flows from settlements of commodity derivatives — — (85,823 ) — (85,823 ) Proceeds from sales of assets — — 33,673 — 33,673 Proceeds from sale of interest in Glass Mountain — — 292,117 — 292,117 Transaction with an unconsolidated entity (Note 13) — — (6,424 ) — (6,424 ) Investments in unconsolidated entities — — (21,461 ) — (21,461 ) Distributions of capital from unconsolidated entities — — 11,710 — 11,710 Repayments on loan for natural gas liquids facility — — 7,425 — 7,425 Loan to affiliate — — (1,460 ) — (1,460 ) Repayments on loan to affiliate — — 4,160 — 4,160 Other (Note 14) — — 20,000 — 20,000 Net cash provided by (used in) investing activities — — 106,865 (1,813 ) 105,052 FINANCING ACTIVITIES: Proceeds from borrowings under Revolving Credit Facility — — 1,674,500 — 1,674,500 Payments on Revolving Credit Facility — — (1,349,500 ) — (1,349,500 ) Repayment and repurchase of senior secured and senior unsecured notes (415,568 ) — — — (415,568 ) Payments on other long-term debt — — (3,971 ) (390 ) (4,361 ) Debt issuance costs (693 ) — (1,804 ) — (2,497 ) Contributions from noncontrolling interest owners, net — — — 23 23 Distributions to general and common unit partners and preferred unitholders (166,589 ) — — — (166,589 ) Distributions to noncontrolling interest owners — — — (3,082 ) (3,082 ) Proceeds from sale of preferred units, net of offering costs 202,731 — — — 202,731 Repurchase of warrants (10,549 ) — — — (10,549 ) Common unit repurchases and cancellations (15,608 ) — — — (15,608 ) Payments for settlement and early extinguishment of liabilities — — (2,408 ) — (2,408 ) Net changes in advances with consolidated entities 1 — 31,910 (31,911 ) — Net cash (used in) provided by financing activities (406,275 ) — 348,727 (35,360 ) (92,908 ) Net increase (decrease) in cash and cash equivalents 8,737 — 8,276 (808 ) 16,205 Cash and cash equivalents, beginning of period 6,257 — 2,903 3,104 12,264 Cash and cash equivalents, end of period $ 14,994 $ — $ 11,179 $ 2,296 $ 28,469 Unaudited Condensed Consolidating Statement of Cash Flows (in Thousands) Nine Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidated OPERATING ACTIVITIES: Net cash used in operating activities $ (48,850 ) $ — $ (63,850 ) $ (2,872 ) $ (115,572 ) INVESTING ACTIVITIES: Capital expenditures — — (257,734 ) (6,846 ) (264,580 ) Acquisitions, net of cash acquired — — (116,153 ) (11,360 ) (127,513 ) Cash flows from settlements of commodity derivatives — — (82,815 ) — (82,815 ) Proceeds from sales of assets — — 14,136 59 14,195 Proceeds from sale of TLP common units — — 112,370 — 112,370 Proceeds from sale of Grassland — — — 22,000 22,000 Distributions of capital from unconsolidated entities — — 7,608 — 7,608 Repayments on loan for natural gas liquids facility — — 6,585 — 6,585 Loan to affiliate — — (2,700 ) — (2,700 ) Repayments on loan to affiliate — — 655 — 655 Payment to terminate development agreement — — (16,875 ) — (16,875 ) Net cash (used in) provided by investing activities — — (334,923 ) 3,853 (331,070 ) FINANCING ACTIVITIES: Proceeds from borrowings under Revolving Credit Facility — — 1,176,000 — 1,176,000 Payments on Revolving Credit Facility — — (1,510,500 ) — (1,510,500 ) Issuance of senior unsecured notes 700,000 — — — 700,000 Repurchase of senior unsecured notes (15,129 ) — — — (15,129 ) Payments on other long-term debt — — (6,359 ) (190 ) (6,549 ) Debt issuance costs (12,536 ) — (72 ) — (12,608 ) Contributions from general partner 59 — — — 59 Contributions from noncontrolling interest owners, net — — — 639 639 Distributions to general and common unit partners and preferred unitholders (132,135 ) — — — (132,135 ) Distributions to noncontrolling interest owners — — — (3,292 ) (3,292 ) Proceeds from sale of preferred units, net of offering costs 234,989 — — — 234,989 Proceeds from sale of common units, net of offering costs 43,896 — — — 43,896 Payments for settlement and early extinguishment of liabilities — — (27,977 ) — (27,977 ) Net changes in advances with consolidated entities (772,232 ) — 769,955 2,277 — Net cash provided by (used in) financing activities 46,912 — 401,047 (566 ) 447,393 Net (decrease) increase in cash and cash equivalents (1,938 ) — 2,274 415 751 Cash and cash equivalents, beginning of period 25,749 — 784 1,643 28,176 Cash and cash equivalents, end of period $ 23,811 $ — $ 3,058 $ 2,058 $ 28,927

Significant Accounting Polici23

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include our accounts and those of our controlled subsidiaries. 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, and include our proportionate share of assets, liabilities, and expenses related to this pipeline in our unaudited condensed 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 (“SEC”). 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, 2017 was derived from our audited consolidated financial statements for the fiscal year ended March 31, 2017 included in our Annual Report on Form 10-K (“Annual Report”) filed with the SEC on May 26, 2017.
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 unaudited condensed consolidated financial statements include, among others, determining the fair value of assets and liabilities acquired in business combinations, the collectibility of accounts receivable, the recoverability of inventories, useful lives and recoverability of property, plant and equipment and amortizable intangible assets, the impairment of long-lived assets and goodwill, the fair value of asset retirement obligations, the value of equity-based compensation, and accruals for environmental matters. Although we believe these estimates are reasonable, actual results could differ from those estimates.
Fair Value Measurements	Fair Value Measurements 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 and forward commodity 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 inputs (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.
Derivative Financial Instruments	Derivative Financial Instruments We record all derivative financial instrument contracts at fair value in our unaudited condensed consolidated balance sheets except for certain contracts that qualify for the normal purchase and normal sale election . 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. We have not designated any financial instruments as hedges for accounting purposes. All changes in the fair value of our commodity derivative instruments that do not qualify as normal purchases and normal sales (whether cash transactions or non-cash mark-to-market adjustments) are reported within cost of sales in our unaudited condensed consolidated statements of operations, regardless of whether the contract is physically or financially settled. We utilize various commodity derivative financial instrument contracts to attempt to reduce our exposure to price fluctuations. We do not enter into such contracts for trading purposes. Changes in assets and liabilities from commodity derivative financial instruments result primarily from changes in market prices, newly originated transactions, and the timing of settlements. We attempt to balance our contractual portfolio in terms of notional amounts and timing of performance and delivery obligations. However, net unbalanced positions can exist or are established based on our assessment of anticipated market movements. Inherent in the resulting contractual portfolio are certain business risks, including commodity price risk and credit risk. Commodity price risk is the risk that the market value of crude oil, natural gas liquids, or refined and renewables products will change, either favorably or unfavorably, in response to changing market conditions. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. Procedures and limits for managing commodity price risks and credit risks are specified in our market risk policy and credit risk policy, respectively. Open commodity positions and market price changes are monitored daily and are reported to senior management and to marketing operations personnel. Credit risk is monitored daily and exposure is minimized through customer deposits, restrictions on product liftings, letters of credit, and entering into master netting agreements that allow for offsetting counterparty receivable and payable balances for certain transactions.
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. Revenues for our Water Solutions segment are recognized when we obtain the wastewater at our treatment and disposal facilities. The tariffs we charge for our pipeline transportation systems are primarily regulated by the Federal Energy Regulatory Commission. Our tariffs include provisions which allow us to deduct from our customer’s inventory a small percentage of the products our customers transport on our pipeline systems. We refer to these product quantities as pipeline loss allowance. We receive pipeline loss allowances from our customers as consideration for product losses during the transportation of their products on our pipeline systems. Our customers are guaranteed delivery of the amount of their injected volumes, net of pipeline loss allowance, irrespective of what our actual product losses may be during the delivery process. 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 unaudited 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.
Income Taxes	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 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 Canada, and our operations in Texas are subject to a state franchise tax that is calculated based on revenues net of cost of sales. 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 unaudited condensed consolidated financial statements at December 31, 2017 or March 31, 2017 . On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President of the United States. The Act amended the Internal Revenue Code of 1986 for taxable years beginning after December 31, 2017 and does not extend retroactively to any prior tax periods. Beginning in tax year 2018, the deductibility of net interest expense is limited to 30% of our adjusted taxable income. For tax years beginning after December 31, 2017 and before January 1, 2022, the Act calculates adjusted taxable income using an EBITDA-based calculation. For tax years beginning January 1, 2022 and thereafter, the calculation of adjusted taxable income will not add back depreciation or amortization. Any disallowed business interest expense is then generally carried forward as a deduction in a succeeding taxable year at the partner level. These limitations might cause interest expense to be deducted by our unitholders in a later period than recognized in the GAAP financial statements.
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. On April 1, 2017, we adopted the new inventory standard, Accounting Standards Update (“ASU”) No. 2015-11. Under this ASU, inventory is to be measured at the lower of cost or net realizable value, which is defined as the estimated selling price in the ordinary course of business, less reasonable predictable costs of completion, disposal, and transportation. 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.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities Investments we cannot control, but can exercise significant influence over, are accounted for using the equity method of accounting. Investments in partnerships and limited liability companies, unless our investment is considered to be minor, and investments in unincorporated joint ventures are also accounted for using the equity method of accounting. Under the equity method, we do not report the individual assets and liabilities of these entities on our unaudited condensed consolidated balance sheets; instead, our ownership interests are reported within investments in unconsolidated entities on our unaudited 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. We use the cumulative earnings approach to classify distributions received from unconsolidated entities as either operating activities or investing activities in our unaudited condensed consolidated statements of cash flows.
Variable Interest Entity	Variable Interest Entity Victory Propane was formed as a joint venture in April 2015 by us and an unrelated third party. The business purpose of Victory Propane is to acquire and/or develop retail propane operations in a defined geographic area. In conjunction with the formation of Victory Propane, we agreed to provide Victory Propane a revolving line of credit of $5.0 million to be used for working capital and/or acquisition funding. Victory Propane began using this revolving line of credit shortly after operations commenced. At December 31, 2017 , we provided a majority of Victory Propane’s financing and have concluded that Victory Propane is a variable interest entity because the equity is not sufficient to fund Victory Propane’s activities without additional subordinated financial support. Each joint venture member has an equal ownership interest in Victory Propane and has equal representation on Victory Propane’s board of managers to make all significant decisions relating to the operations of Victory Propane. Therefore, we do not have the power to direct activities that significantly influence the economic performance of Victory Propane and have concluded that we are not the primary beneficiary. Our maximum exposure to loss related to Victory Propane is limited to the sum of our equity investment as shown in the table above and the outstanding loan receivable (see Note 13 ) at December 31, 2017 .
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests represent the portion of certain consolidated subsidiaries that are owned by third parties. Amounts are adjusted by the noncontrolling interest holder’s proportionate share of the subsidiaries’ earnings or losses each period and any distributions that are paid. Noncontrolling interests are reported as a component of equity, unless the noncontrolling interest is considered redeemable, in which case the noncontrolling interest is recorded between liabilities and equity (mezzanine or temporary equity) in our unaudited condensed consolidated balance sheet. The redeemable noncontrolling interest is adjusted at each balance sheet date to its maximum redemption value if the amount is greater than the carrying value.
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 a reasonable period of time (not to exceed one year) to obtain the information necessary to identify and measure the fair value of the assets acquired and liabilities assumed in a business combination. As discussed in Note 4 , certain of our 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. Also, as discussed in Note 4 , we made certain adjustments during the nine months ended December 31, 2017 to our estimates of the acquisition date fair values of assets acquired and liabilities assumed in business combinations that occurred during the fiscal year ended March 31, 2017 .
Reclassifications	Reclassifications 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-15, “Statement of Cash Flows-Classification of Certain Cash Receipts and Cash Payments.” The ASU requires cash payments not made soon after the acquisition date of a business combination by an acquirer to settle a contingent consideration liability to be separated and classified as cash outflows for financing activities and operating activities. Cash payments up to the amount of the contingent consideration liability recognized at the acquisition date (including measurement-period adjustments) should be classified as financing activities and any excess should be classified as operating activities. We adopted this ASU effective April 1, 2017 and have revised previously reported information. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses.” The ASU requires a financial asset (or a group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected, which would include accounts receivable. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. The ASU is effective for the Partnership beginning April 1, 2020, and requires a modified retrospective method of adoption, although early adoption is permitted. We are currently in the process of assessing the impact of this ASU on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases.” The ASU will replace previous lease accounting guidance in GAAP. The ASU requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The ASU retains a distinction between finance leases and operating leases. The ASU is effective for the Partnership beginning April 1, 2019, and requires a modified retrospective method of adoption. We are currently in the process of compiling a database of leases and analyzing each lease to assess the impact under this ASU on our consolidated financial statements. 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 methods of adoption. We are in the process of evaluating our revenue contracts by segment and type to determine the potential impact of adopting this ASU. At this point in our evaluation process, we have determined that the timing and/or amount of revenue that we recognize on certain contracts, particularly contracts with minimum volume commitments, specifically in our Water Solutions, Crude Oil Logistics, Refined and Renewables and Liquids segments, tiered pricing, non-cash consideration and multi-year services arrangements, may be impacted by the adoption of this ASU; however, we are still in the process of quantifying these impacts, if any, and have not yet determined whether they would be material to our consolidated financial statements. We have hired a third-party to assist us in the evaluation of these contracts. In addition, we are in the process of implementing appropriate changes to our business processes, systems and controls to support recognition and disclosure under this ASU. We continue to monitor additional authoritative or interpretive guidance related to this ASU as it becomes available, as well as comparing our conclusions on specific interpretative issues to other peers in our industry, to the extent that such information is available to us. We currently anticipate utilizing a modified retrospective adoption as of April 1, 2018.

Equity (Policies)

Equity (Policies)	9 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Forfeitures	On April 1, 2017, we made an accounting policy election to account for actual forfeitures, rather than estimate forfeitures each period (as previously required). As a result, the cumulative effect adjustment, which represents the differential between the amount of compensation expense previously recorded and the amount that would have been recorded without assuming forfeitures, had no impact on our consolidated financial statements.
Service Awards	Service Awards are valued at the closing price as of the grant date less the present value of the expected distribution stream over the vesting period using a risk-free interest rate. We record the expense for each Service Award on a straight-line basis over the requisite period for the entire award (that is, over the requisite service period of the last separately vesting portion of the award), ensuring that the amount of compensation cost recognized at any date at least equals the portion of the grant-date value of the award that is vested at that date. In December 2017, the compensation committee of the board of directors of our general partner decided that the vesting of all future grants would be split between dates in February and November instead of the entire grant vesting in July, which was the month the units generally vested. In addition, employees with unvested Service Awards were given an option to switch the vesting of their outstanding Service Awards and split the awards to vest in February and November or keep the vesting in July. For example, if an employee elected to change the vesting of their outstanding Service Awards, an award that was originally scheduled to vest in July 2018 would now be split so that half of the award will vest in February 2018 and the other half in November 2018. The Service Awards of individuals that elected to split the vesting are considered to be modified. The impact of the modification was not material to the current or future unit based compensation expense.
Performance Awards	The fair value of the Performance Awards is estimated using a Monte Carlo simulation at the grant date. 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. Any Performance Awards that do not become earned Performance Awards will terminate, expire and otherwise be forfeited by the participants.

Significant Accounting Polici25

Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of inventories	Inventories consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Crude oil $ 77,306 $ 146,857 Natural gas liquids: Propane 118,998 38,631 Butane 40,670 5,992 Other 11,778 6,035 Refined products: Gasoline 214,717 193,051 Diesel 129,126 98,237 Renewables: Ethanol 39,631 42,009 Biodiesel 8,124 21,410 Other 4,750 9,210 Total $ 645,100 $ 561,432
Schedule of investments in unconsolidated entities	Our investments in unconsolidated entities consist of the following at the dates indicated: Entity Segment Ownership Date Acquired December 31, 2017 March 31, 2017 (in thousands) Glass Mountain Pipeline, LLC (2) Crude Oil Logistics —% December 2013 $ — $ 172,098 E Energy Adams, LLC Refined Products and Renewables 19% December 2013 14,369 12,952 Water treatment and disposal facility (3) Water Solutions 50% August 2015 2,000 2,147 Victory Propane, LLC (4) Retail Propane 50% April 2015 — 226 Total $ 16,369 $ 187,423 (1) Ownership interest percentages are at December 31, 2017 . (2) On December 22, 2017, we sold our previously held 50% interest in Glass Mountain Pipeline, LLC for net proceeds of $292.1 million and recorded a gain on disposal of $108.6 million during the three months ended December 31, 2017 within (gain) loss on disposal or impairment of assets, net in our unaudited condensed consolidated statement of operations. (3) This is an investment in an unincorporated joint venture. (4) As our investment is $0 at December 31, 2017 , our proportionate share of Victory Propane, LLC’s (“Victory Propane”) losses have been recorded against the loan receivable we have with Victory Propane. See Note 13 for a further discussion of the loan receivable and a description of other transactions between us and Victory Propane.
Schedule of other noncurrent assets	Other noncurrent assets consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Loan receivable (1) $ 32,396 $ 40,684 Line fill (2) 36,446 30,628 Tank bottoms (3) 42,044 42,044 Minimum shipping fees - pipeline commitments (4) 82,301 67,996 Other 49,578 58,252 Total $ 242,765 $ 239,604 (1) Represents a loan receivable associated with our financing of the construction of a natural gas liquids facility to be utilized by a third party . (2) Represents minimum volumes of product we are required to leave on certain third-party owned pipelines under long-term shipment commitments. At December 31, 2017 , line fill consisted of 377,320 barrels of crude oil and 262,000 barrels of propane (requirement is due to a new contract). At March 31, 2017 , line fill consisted of 427,193 barrels of crude oil. Line fill held in pipelines we own is included within property, plant and equipment (see Note 5 ). (3) 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. At December 31, 2017 and March 31, 2017 , tank bottoms held in third party terminals consisted of 366,212 barrels and 366,212 barrels of refined products, respectively. Tank bottoms held in terminals we own are included within property, plant and equipment (see Note 5 ). (4) Represents the minimum shipping fees paid in excess of volumes shipped for two contracts. This amount can be recovered when volumes shipped exceed the minimum monthly volume commitment (see Note 9 ). Under these contracts, we currently have 2.3 years and 2.8 years , respectively, in which to ship the excess volumes.
Schedule of accrued expenses and other payables	Accrued expenses and other payables consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Accrued compensation and benefits $ 16,237 $ 22,227 Excise and other tax liabilities 48,803 64,051 Derivative liabilities 34,713 27,622 Accrued interest 33,389 44,418 Product exchange liabilities 24,312 1,693 Deferred gain on sale of general partner interest in TLP 30,113 30,113 Other 43,185 17,001 Total $ 230,752 $ 207,125

Income (Loss) Per Common Unit (

Income (Loss) Per Common Unit (Tables)	9 Months Ended
	Dec. 31, 2017
Earnings Per Unit [Abstract]
Schedule of weighted average number of units	The following table presents our calculation of basic and diluted weighted average units outstanding for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 Weighted average units outstanding during the period: Common units - Basic 120,844,008 107,966,901 120,899,502 106,114,668 Effect of Dilutive Securities: Performance awards — — — 111,826 Warrants 2,914,383 — — 3,328,434 Service awards 403,575 — — — Common units - Diluted 124,161,966 107,966,901 120,899,502 109,554,928 For the three months ended December 31, 2017 , the Class A Preferred Units (as defined herein) and Performance Awards (as defined herein) were considered antidilutive. For the nine months ended December 31, 2017 and three months ended December 31, 2016 , the Class A Preferred Units, Performance Awards, Service Awards and warrants were considered antidilutive. For the nine months ended December 31, 2016 , the Class A Preferred Units and Service Awards were considered antidilutive.
Schedule of 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, 2017 2016 2017 2016 (in thousands, except unit and per unit amounts) Net income (loss) $ 56,769 $ 1,293 $ (180,517 ) $ 117,388 Less: Net income attributable to noncontrolling interests (89 ) (317 ) (221 ) (6,091 ) Less: Net (income) loss attributable to redeemable noncontrolling interests (424 ) — 261 — Net income (loss) attributable to NGL Energy Partners LP 56,256 976 (180,477 ) 111,297 Less: Distributions to preferred unitholders (16,219 ) (8,906 ) (42,001 ) (20,958 ) Less: Net (income) loss allocated to general partner (1) (73 ) (22 ) 121 (180 ) Less: Repurchase of warrants (2) — — (349 ) — Net income (loss) allocated to common unitholders $ 39,964 $ (7,952 ) $ (222,706 ) $ 90,159 Basic income (loss) per common unit $ 0.33 $ (0.07 ) $ (1.84 ) $ 0.85 Diluted income (loss) per common unit $ 0.32 $ (0.07 ) $ (1.84 ) $ 0.82 Basic weighted average common units outstanding 120,844,008 107,966,901 120,899,502 106,114,668 Diluted weighted average common units outstanding 124,161,966 107,966,901 120,899,502 109,554,928 (1) Net (income) loss allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights. (2) This amount represents the excess of the repurchase price over the fair value of the warrants, as discussed further in Note 10 .

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Dec. 31, 2017
Retail Propane Business 2018 Acquisitions Acquisition Accounting In Process
Business Acquisition
Schedule of the fair values of the assets acquired and liabilities assumed	The following table summarizes the preliminary estimates of the fair values of the assets acquired and liabilities assumed (in thousands): Current assets $ 2,042 Property, plant and equipment 10,686 Goodwill 3,010 Intangible assets 16,625 Current liabilities (1,586 ) Other noncurrent liabilities (291 ) Fair value of net assets acquired $ 30,486

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	Our property, plant and equipment consists of the following at the dates indicated: Description Estimated December 31, 2017 March 31, 2017 (in thousands) Natural gas liquids terminal and storage assets 2–30 years $ 238,092 $ 207,825 Pipeline and related facilities 30–40 years 255,930 248,582 Refined products terminal assets and equipment 15–25 years 7,062 6,736 Retail propane equipment 2–30 years 195,414 239,417 Vehicles and railcars 3–25 years 179,691 198,480 Water treatment facilities and equipment 3–30 years 585,569 557,100 Crude oil tanks and related equipment 2–30 years 218,056 203,003 Barges and towboats 5–30 years 91,884 91,037 Information technology equipment 3–7 years 43,495 43,880 Buildings and leasehold improvements 3–40 years 167,446 161,957 Land 56,593 56,545 Tank bottoms and line fill (1) 20,094 24,462 Other 3–20 years 14,802 39,132 Construction in progress 54,729 87,711 2,128,857 2,165,867 Accumulated depreciation (420,174 ) (375,594 ) Net property, plant and equipment $ 1,708,683 $ 1,790,273 (1) 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. Line fill, which represents our portion of the product volume required for the operation of the proportionate share of a pipeline we own, is recorded at historical cost.
Schedule of depreciation expense and capitalized interest expense	The following table summarizes depreciation expense and capitalized interest expense for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands) Depreciation expense $ 32,629 $ 32,039 $ 98,761 $ 88,396 Capitalized interest expense $ 66 $ 1,429 $ 66 $ 6,233

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in goodwill by segment	The following table summarizes changes in goodwill by segment during the nine months ended December 31, 2017 : Crude Oil Water Liquids Retail Refined Total (in thousands) Balances at March 31, 2017 $ 579,846 $ 424,270 $ 266,046 $ 130,427 $ 51,127 $ 1,451,716 Revisions to acquisition accounting (Note 4) — 195 — 232 — 427 Acquisitions (Note 4) — — — 3,010 — 3,010 Impairment — — (116,877 ) — — (116,877 ) Assets held for sale (Note 14) — — — (24,959 ) — (24,959 ) Balances at December 31, 2017 $ 579,846 $ 424,465 $ 149,169 $ 108,710 $ 51,127 $ 1,313,317

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of finite-lived intangible assets	Our intangible assets consist of the following at the dates indicated: December 31, 2017 March 31, 2017 Description Amortizable Lives Gross Carrying Accumulated Net Gross Carrying Accumulated Net (in thousands) Amortizable: Customer relationships 3–20 years $ 882,256 $ (352,364 ) $ 529,892 $ 906,782 $ (316,242 ) $ 590,540 Customer commitments 10 years 310,000 (36,167 ) 273,833 310,000 (12,917 ) 297,083 Pipeline capacity rights 30 years 161,785 (15,697 ) 146,088 161,785 (11,652 ) 150,133 Rights-of-way and easements 1–40 years 63,485 (2,670 ) 60,815 63,402 (2,154 ) 61,248 Executory contracts and other agreements 3–30 years 23,097 (16,626 ) 6,471 29,036 (20,457 ) 8,579 Non-compete agreements 2–32 years 17,988 (6,767 ) 11,221 32,984 (17,762 ) 15,222 Trade names 1–10 years 4,076 (1,822 ) 2,254 15,439 (13,396 ) 2,043 Debt issuance costs (1) 5 years 40,790 (23,419 ) 17,371 38,983 (20,025 ) 18,958 Total amortizable 1,503,477 (455,532 ) 1,047,945 1,558,411 (414,605 ) 1,143,806 Non-amortizable: Trade names 17,010 — 17,010 20,150 — 20,150 Total non-amortizable 17,010 — 17,010 20,150 — 20,150 Total $ 1,520,487 $ (455,532 ) $ 1,064,955 $ 1,578,561 $ (414,605 ) $ 1,163,956 (1) Includes debt issuance costs related to the Revolving Credit Facility (as defined herein). Debt issuance costs related to fixed-rate notes are reported as a reduction of the carrying amount of long-term debt.
Schedule of indefinite-lived intangible assets	Our intangible assets consist of the following at the dates indicated: December 31, 2017 March 31, 2017 Description Amortizable Lives Gross Carrying Accumulated Net Gross Carrying Accumulated Net (in thousands) Amortizable: Customer relationships 3–20 years $ 882,256 $ (352,364 ) $ 529,892 $ 906,782 $ (316,242 ) $ 590,540 Customer commitments 10 years 310,000 (36,167 ) 273,833 310,000 (12,917 ) 297,083 Pipeline capacity rights 30 years 161,785 (15,697 ) 146,088 161,785 (11,652 ) 150,133 Rights-of-way and easements 1–40 years 63,485 (2,670 ) 60,815 63,402 (2,154 ) 61,248 Executory contracts and other agreements 3–30 years 23,097 (16,626 ) 6,471 29,036 (20,457 ) 8,579 Non-compete agreements 2–32 years 17,988 (6,767 ) 11,221 32,984 (17,762 ) 15,222 Trade names 1–10 years 4,076 (1,822 ) 2,254 15,439 (13,396 ) 2,043 Debt issuance costs (1) 5 years 40,790 (23,419 ) 17,371 38,983 (20,025 ) 18,958 Total amortizable 1,503,477 (455,532 ) 1,047,945 1,558,411 (414,605 ) 1,143,806 Non-amortizable: Trade names 17,010 — 17,010 20,150 — 20,150 Total non-amortizable 17,010 — 17,010 20,150 — 20,150 Total $ 1,520,487 $ (455,532 ) $ 1,064,955 $ 1,578,561 $ (414,605 ) $ 1,163,956 (1) Includes debt issuance costs related to the Revolving Credit Facility (as defined herein). Debt issuance costs related to fixed-rate notes are reported as a reduction of the carrying amount of long-term debt.
Schedule of amortization expense	Amortization expense is as follows for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, Recorded In 2017 2016 2017 2016 (in thousands) Depreciation and amortization $ 30,711 $ 28,728 $ 93,666 $ 71,880 Cost of sales 1,505 1,753 4,596 5,098 Interest expense 1,154 1,721 3,394 5,177 Total $ 33,370 $ 32,202 $ 101,656 $ 82,155
Schedule of expected amortization of intangible assets	Expected amortization of our intangible assets is as follows (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 32,936 2019 128,009 2020 124,632 2021 111,519 2022 96,432 Thereafter 554,417 Total $ 1,047,945

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt	Our long-term debt consists of the following at the dates indicated: December 31, 2017 March 31, 2017 Face Unamortized Book Face Unamortized Book (in thousands) Revolving credit facility: Expansion capital borrowings $ 125,000 $ — $ 125,000 $ — $ — $ — Working capital borrowings 1,014,500 — 1,014,500 814,500 — 814,500 Senior secured notes — — — 250,000 (4,559 ) 245,441 Senior unsecured notes: 5.125% Notes due 2019 360,781 (2,015 ) 358,766 379,458 (3,191 ) 376,267 6.875% Notes due 2021 367,048 (4,817 ) 362,231 367,048 (5,812 ) 361,236 7.500% Notes due 2023 656,589 (9,515 ) 647,074 700,000 (11,329 ) 688,671 6.125% Notes due 2025 412,507 (6,536 ) 405,971 500,000 (8,567 ) 491,433 Other long-term debt 11,684 — 11,684 15,525 — 15,525 2,948,109 (22,883 ) 2,925,226 3,026,531 (33,458 ) 2,993,073 Less: Current maturities 3,260 — 3,260 29,590 — 29,590 Long-term debt $ 2,944,849 $ (22,883 ) $ 2,921,966 $ 2,996,941 $ (33,458 ) $ 2,963,483 (1) Debt issuance costs related to the Revolving Credit Facility are reported within intangible assets, rather than as a reduction of the carrying amount of long-term debt.
Schedule of future amortization expense of debt issuance costs	Expected amortization of debt issuance costs is as follows (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 1,283 2019 5,124 2020 4,191 2021 3,810 2022 3,229 Thereafter 5,246 Total $ 22,883
Schedule of financial covenants in Credit Agreement	In addition, the Credit Agreement contains covenants that require us to satisfy certain debt ratios, which are summarized in the table below. Senior Secured Interest Period Beginning Leverage Ratio (1) Leverage Ratio (1) Coverage Ratio (2) December 31, 2017 5.50 2.50 2.25 March 31, 2018 4.75 3.25 2.75 March 31, 2019 and thereafter 4.50 3.25 2.75 (1) Amount represents the maximum ratio for the period presented. (2) Amount represents the minimum ratio for the period presented.
Long-Term Debt
Schedule of maturities of long-term debt	The scheduled maturities of our long-term debt are as follows at December 31, 2017 : Fiscal Year Ending March 31, Revolving Senior Unsecured Notes Other Total (in thousands) 2018 (three months) $ — $ — $ 604 $ 604 2019 — — 2,939 2,939 2020 — 360,781 2,318 363,099 2021 — — 5,470 5,470 2022 1,139,500 367,048 286 1,506,834 Thereafter — 1,069,096 67 1,069,163 Total $ 1,139,500 $ 1,796,925 $ 11,684 $ 2,948,109
Senior secured notes
Long-Term Debt
Schedule of repurchases	The following table summarizes repurchases of Senior Secured Notes for the periods indicated: Three Months Ended Nine Months Ended December 31, December 31, 2017 2017 (in thousands) Senior Secured Notes Notes repurchased $ 175,500 $ 230,500 Cash paid (excluding payments of accrued interest) $ 192,979 $ 250,179 Loss on early extinguishment of debt (1) $ (20,807 ) $ (23,971 ) (1) Loss on the early extinguishment of debt for the Senior Secured Notes during the three months and nine months ended December 31, 2017 are net of debt issuance costs of $3.3 million and $4.3 million , respectively.
Senior unsecured notes
Long-Term Debt
Schedule of repurchases	The following table summarizes repurchases of Senior Unsecured Notes for the periods indicated: Three Months Ended Nine Months Ended December 31, December 31, 2017 2017 (in thousands) 2019 Notes Notes repurchased $ — $ 18,677 Cash paid (excluding payments of accrued interest) $ — $ 18,641 Loss on early extinguishment of debt (1) $ — $ (102 ) 2023 Notes Notes repurchased $ 16,954 $ 43,411 Cash paid (excluding payments of accrued interest) $ 17,434 $ 42,893 Loss on early extinguishment of debt (2) $ (730 ) $ (135 ) 2025 Notes Notes repurchased $ 71,793 $ 87,493 Cash paid (excluding payments of accrued interest) $ 70,248 $ 84,356 Gain on early extinguishment of debt (3) $ 396 $ 1,729 (1) Loss on the early extinguishment of debt for the 2019 Notes during the nine months ended December 31, 2017 are net of debt issuance costs of $0.1 million . (2) Loss on the early extinguishment of debt for the 2023 Notes during the three months and nine months ended December 31, 2017 are net of debt issuance costs of $0.2 million and $0.7 million , respectively. (3) Gain on the early extinguishment of debt for the 2025 Notes during the three months and nine months ended December 31, 2017 are net of debt issuance costs of $1.1 million and $1.4 million , respectively.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of change in asset retirement obligation	The following table summarizes changes in our asset retirement obligation, which is reported within other noncurrent liabilities in our unaudited condensed consolidated balance sheets (in thousands): Balance at March 31, 2017 $ 8,181 Liabilities incurred 422 Liabilities assumed in acquisitions 21 Liabilities settled (549 ) Accretion expense 655 Balance at December 31, 2017 $ 8,730
Schedule of future minimum lease payments under contractual commitments	The following table summarizes future minimum lease payments under these agreements at December 31, 2017 (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 34,721 2019 120,928 2020 107,342 2021 93,662 2022 66,036 Thereafter 94,023 Total $ 516,712
Schedule of future minimum throughput payments under agreements	The following table summarizes future minimum throughput payments under these agreements at December 31, 2017 (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 13,001 2019 52,042 2020 42,351 Total $ 107,394
Schedule of outstanding purchase commitments	At December 31, 2017 , we had the following commodity purchase commitments (in thousands): Crude Oil (1) Natural Gas Liquids Value Volume Value Volume Fixed-Price Commodity Purchase Commitments: 2018 (three months) $ 51,001 899 $ 20,600 26,213 2019 — — 1,341 2,268 Total $ 51,001 899 $ 21,941 28,481 Index-Price Commodity Purchase Commitments: 2018 (three months) $ 427,214 7,386 $ 310,124 319,467 2019 790,287 14,640 46,559 50,644 2020 511,636 10,395 — — 2021 438,851 9,314 — — 2022 357,603 7,729 — — Thereafter 447,158 9,592 — — Total $ 2,972,749 59,056 $ 356,683 370,111 (1) Our crude oil index-price purchase commitments exceed our crude oil index-price sales commitments (presented below) due primarily to our long-term purchase commitments for crude oil that we purchase and ship on the Grand Mesa pipeline. As these purchase commitments are deliver-or-pay contracts, we have not entered into corresponding long-term sales contracts for volumes we may not receive.
Schedule of outstanding sale commitments	At December 31, 2017 , we had the following commodity sale commitments (in thousands): Crude Oil Natural Gas Liquids Value Volume Value Volume Fixed-Price Commodity Sale Commitments: 2018 (three months) $ 63,247 1,149 $ 94,582 103,982 2019 — — 9,521 12,298 2020 — — 162 215 Total $ 63,247 1,149 $ 104,265 116,495 Index-Price Commodity Sale Commitments: 2018 (three months) $ 468,661 7,872 $ 285,758 247,918 2019 389,596 7,311 7,914 7,685 2020 59,885 1,070 — — Total $ 918,142 16,253 $ 293,672 255,603

Equity (Tables)

Equity (Tables)	9 Months Ended
	Dec. 31, 2017
Equity
Schedule of dividends declared	The following table summarizes distributions declared on our common units during the last four quarters: Date Declared Record Date Date Paid/Payable Amount Per Unit Amount Paid/Payable to Limited Partners Amount Paid/Payable to General Partner (in thousands) (in thousands) April 24, 2017 May 8, 2017 May 15, 2017 $ 0.3900 $ 46,870 $ 80 July 20, 2017 August 4, 2017 August 14, 2017 $ 0.3900 $ 47,460 $ 81 October 19, 2017 November 6, 2017 November 14, 2017 $ 0.3900 $ 47,000 $ 81 January 23, 2018 February 6, 2018 February 14, 2018 $ 0.3900 $ 47,223 $ 81
Service awards
Equity
Schedule of awards activity	The following table summarizes the Service Award activity during the nine months ended December 31, 2017 : Unvested Service Award units at March 31, 2017 2,708,500 Units granted 1,036,202 Units vested and issued (1,855,102 ) Units forfeited (90,000 ) Unvested Service Award units at December 31, 2017 1,799,600
Schedule of scheduled vesting of awards	The following table summarizes the scheduled vesting of our unvested Service Award units at December 31, 2017 : Fiscal Year Ending March 31, 2018 (three months) 315,500 2019 896,750 2020 584,600 2021 2,750 Total 1,799,600
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, 2017 (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 3,586 2019 8,909 2020 3,175 2021 18 Total $ 15,688
Performance awards
Equity
Schedule of awards activity	The following table summarizes the Performance Award activity during the nine months ended December 31, 2017 : Unvested Performance Award units at March 31, 2017 1,189,000 Units forfeited (426,000 ) Unvested Performance Award units at December 31, 2017 763,000
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, 2017 (in thousands): Fiscal Year Ending March 31, 2018 (three months) $ 1,266 2019 3,078 2020 624 Total $ 4,968
Schedule of performance measurement period for each tranche	As of December 31, 2017 , performance will be measured over the following periods: Vesting Date of Tranche Performance Period for Tranche July 1, 2018 July 1, 2015 through June 30, 2018 July 1, 2019 July 1, 2016 through June 30, 2019
Class A Convertible Preferred Units
Equity
Schedule of dividends declared	The following table summarizes distributions declared on our Class A Preferred Units during the last four quarters: Amount Paid/Payable to Class A Date Declared Date Paid/Payable Preferred Unitholders (in thousands) April 24, 2017 May 15, 2017 $ 6,449 July 20, 2017 August 14, 2017 $ 6,449 October 19, 2017 November 14, 2017 $ 6,449 January 23, 2018 February 14, 2018 $ 6,449

Fair Value of Financial Instr34

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of estimated fair value measurements of assets and liabilities	The following table summarizes the estimated fair values of our commodity derivative assets and liabilities reported in our unaudited condensed consolidated balance sheet at the dates indicated: December 31, 2017 March 31, 2017 Derivative Derivative Derivative Derivative (in thousands) Level 1 measurements $ 9,981 $ (41,702 ) $ 2,590 $ (21,113 ) Level 2 measurements 33,645 (37,382 ) 38,729 (27,799 ) 43,626 (79,084 ) 41,319 (48,912 ) Netting of counterparty contracts (1) (8,470 ) 8,470 (1,508 ) 1,508 Net cash collateral (held) provided (791 ) 33,233 (1,035 ) 19,604 Commodity derivatives $ 34,365 $ (37,381 ) $ 38,776 $ (27,800 ) (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 in the unaudited condensed consolidated balance sheets	The following table summarizes the accounts that include our commodity derivative assets and liabilities in our unaudited condensed consolidated balance sheets at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Prepaid expenses and other current assets $ 34,283 $ 38,711 Other noncurrent assets 82 65 Accrued expenses and other payables (34,713 ) (27,622 ) Other noncurrent liabilities (2,668 ) (178 ) Net commodity derivative (liability) asset $ (3,016 ) $ 10,976
Summary of open commodity derivative contract positions	The following table summarizes our open commodity derivative contract positions at the dates indicated. We do not account for these derivatives as hedges. Contracts Settlement Period Net Long Fair Value (in thousands) At December 31, 2017: Cross-commodity (1) January 2018–March 2018 (21 ) $ (1,587 ) Crude oil fixed-price (2) January 2018–December 2019 (1,243 ) (7,536 ) Propane fixed-price (2) January 2018–December 2018 210 1,942 Refined products fixed-price (2) January 2018–January 2020 (4,743 ) (29,363 ) Refined products index (2) January 2018–June 2018 (13 ) (51 ) Other January 2018–March 2022 1,137 (35,458 ) Net cash collateral provided 32,442 Net commodity derivative liability $ (3,016 ) At March 31, 2017: Crude oil fixed-price (2) April 2017–May 2017 (800 ) $ (55 ) Propane fixed-price (2) April 2017–December 2018 220 1,082 Refined products fixed-price (2) April 2017–January 2019 (4,682 ) (7,729 ) Refined products index (2) April 2017–December 2017 (18 ) (103 ) Other April 2017–March 2022 (788 ) (7,593 ) Net cash collateral provided 18,569 Net commodity derivative asset $ 10,976 (1) 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) 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.
Schedule of fair value estimates of fixed-rate notes	The following table provides fair value estimates of our fixed-rate notes at December 31, 2017 (in thousands): Senior unsecured notes: 5.125% Notes due 2019 $ 367,997 6.875% Notes due 2021 $ 374,045 7.500% Notes due 2023 $ 681,621 6.125% Notes due 2025 $ 405,804

Segments (Tables)

Segments (Tables)	9 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Schedule of certain information related to results of operations by segment	The following table summarizes certain financial data related to our segments. Transactions between segments are recorded based on prices negotiated between the segments. The “Corporate and Other” category in the table below includes certain corporate expenses that are not allocated to the reportable segments. Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands) Revenues: Crude Oil Logistics: Crude oil sales $ 556,001 $ 366,569 $ 1,446,560 $ 1,123,169 Crude oil transportation and other 33,017 20,914 89,318 43,020 Elimination of intersegment sales (4,011 ) (1,577 ) (8,934 ) (4,447 ) Total Crude Oil Logistics revenues 585,007 385,906 1,526,944 1,161,742 Water Solutions: Service fees 41,045 28,268 109,648 82,493 Recovered hydrocarbons 17,021 6,387 37,427 19,264 Other revenues 5,958 5,704 14,948 14,088 Total Water Solutions revenues 64,024 40,359 162,023 115,845 Liquids: Propane sales 403,236 260,562 733,684 458,646 Butane sales 228,535 146,514 408,312 267,769 Other product sales 123,677 89,225 310,389 217,405 Other revenues 6,166 7,704 16,106 22,926 Elimination of intersegment sales (52,570 ) (33,730 ) (88,510 ) (57,162 ) Total Liquids revenues 709,044 470,275 1,379,981 909,584 Retail Propane: Propane sales 124,466 96,699 221,102 174,510 Distillate sales 22,806 19,569 39,037 35,613 Other revenues 12,797 12,418 31,733 30,056 Elimination of intersegment sales (44 ) (32 ) (75 ) (48 ) Total Retail Propane revenues 160,025 128,654 291,797 240,131 Refined Products and Renewables: Refined products sales 2,845,482 2,258,317 8,493,357 6,409,889 Renewables sales 99,436 123,065 313,366 325,377 Service fees 94 50 262 11,195 Elimination of intersegment sales (138 ) (149 ) (268 ) (293 ) Total Refined Products and Renewables revenues 2,944,874 2,381,283 8,806,717 6,746,168 Corporate and Other 289 164 696 679 Total revenues $ 4,463,263 $ 3,406,641 $ 12,168,158 $ 9,174,149 Depreciation and Amortization: Crude Oil Logistics $ 20,092 $ 16,503 $ 61,885 $ 34,496 Water Solutions 24,586 27,150 73,847 76,713 Liquids 6,247 4,441 18,718 13,315 Retail Propane 11,130 11,379 34,205 31,771 Refined Products and Renewables 323 404 971 1,237 Corporate and Other 962 890 2,801 2,744 Total depreciation and amortization $ 63,340 $ 60,767 $ 192,427 $ 160,276 Operating Income (Loss): Crude Oil Logistics $ 106,279 $ (9,163 ) $ 111,832 $ (28,827 ) Water Solutions (1,373 ) (11,898 ) (10,075 ) 63,136 Liquids 22,290 24,765 (104,589 ) 33,092 Retail Propane 23,972 21,772 8,878 10,553 Refined Products and Renewables (4,791 ) 8,209 30,747 169,365 Corporate and Other (21,846 ) (11,128 ) (56,031 ) (66,690 ) Total operating income (loss) $ 124,531 $ 22,557 $ (19,238 ) $ 180,629
Schedule of additions to property, plant and equipment and intangible assets by segment	The following table summarizes additions to property, plant and equipment and intangible assets by segment for the periods indicated. This information has been prepared on the accrual basis, and includes property, plant and equipment and intangible assets acquired in acquisitions. Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands) Crude Oil Logistics $ 14,788 $ 42,758 $ 26,509 $ 147,460 Water Solutions 22,556 18,275 56,996 86,628 Liquids 1,188 1,736 2,868 14,897 Retail Propane 14,527 16,196 49,242 94,170 Refined Products and Renewables — (945 ) — 42,175 Corporate and Other 625 375 1,334 2,107 Total $ 53,684 $ 78,395 $ 136,949 $ 387,437
Schedule of long-lived assets (consisting of property, plant and equipment, intangible assets and goodwill) and total assets by segment	The following tables summarize long-lived assets (consisting of property, plant and equipment, intangible assets, and goodwill) and total assets by segment at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Long-lived assets, net: Crude Oil Logistics $ 1,661,020 $ 1,724,805 Water Solutions 1,239,578 1,261,944 Liquids 485,454 619,204 Retail Propane 457,031 547,960 Refined Products and Renewables 210,534 215,637 Corporate and Other 33,338 36,395 Total $ 4,086,955 $ 4,405,945 Total assets: Crude Oil Logistics $ 2,269,632 $ 2,538,768 Water Solutions 1,303,873 1,301,415 Liquids 901,904 767,597 Retail Propane 660,850 622,859 Refined Products and Renewables 1,087,499 988,073 Corporate and Other 92,628 101,667 Total $ 6,316,386 $ 6,320,379

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	9 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Summary of purchase and sale transactions of products and services	The following table summarizes these related party transactions for the periods indicated: Three Months Ended December 31, Nine Months Ended December 31, 2017 2016 2017 2016 (in thousands) Sales to SemGroup $ 178 $ 150 $ 408 $ 3,734 Purchases from SemGroup $ 1,050 $ 1,911 $ 3,978 $ 5,874 Sales to equity method investees $ 98 $ 95 $ 294 $ 595 Purchases from equity method investees $ 18,373 $ 33,538 $ 66,842 $ 91,530 Sales to entities affiliated with management $ 64 $ 53 $ 204 $ 205 Purchases from entities affiliated with management $ 193 $ 2,580 $ 1,540 $ 14,316
Schedule of accounts receivable from affiliates	Accounts receivable from affiliates consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Receivables from SemGroup $ 83 $ 6,668 Receivables from NGL Energy Holdings LLC 3,413 — Receivables from equity method investees 2 15 Receivables from entities affiliated with management 19 28 Total $ 3,517 $ 6,711
Schedule of accounts payable to affiliates	Accounts payable to affiliates consist of the following at the dates indicated: December 31, 2017 March 31, 2017 (in thousands) Payables to SemGroup $ 390 $ 6,571 Payables to equity method investees 81 1,306 Payables to entities affiliated with management 3 41 Total $ 474 $ 7,918
Schedule of capital expenditures	The allocation of the consideration was as follows: Current assets $ 276 Property, plant and equipment 1,366 Intangible assets (customer relationships) 4,782 Fair value of net assets acquired $ 6,424

Assets and Liabilities Held f37

Assets and Liabilities Held for Sale (Tables)	9 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Schedule of major classes of assets and liabilities held for sale	The following table summarizes the major classes of assets and liabilities classified as held for sale at December 31, 2017 (in thousands): Assets Held for Sale Cash and cash equivalents $ 1,985 Accounts receivable-trade, net 13,336 Accounts receivable-affiliates 1 Inventories 6,273 Prepaid expenses and other current assets 2,437 Property, plant and equipment, net 61,137 Goodwill 24,959 Intangible assets, net 21,463 Total assets held for sale $ 131,591 Liabilities Held for Sale Accounts payable-trade $ 686 Accrued expenses and other payables 2,565 Advance payments received from customers 13,163 Other liabilities 160 Total liabilities held for sale $ 16,574

Unaudited Condensed Consolida38

Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Tables)	9 Months Ended
	Dec. 31, 2017
Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information [Abstract]
Schedule of Unaudited Condensed Consolidating Balance Sheets	Unaudited Condensed Consolidating Balance Sheet (in Thousands) December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 14,994 $ — $ 11,179 $ 2,296 $ — $ 28,469 Accounts receivable-trade, net of allowance for doubtful accounts — — 1,060,207 3,700 — 1,063,907 Accounts receivable-affiliates — — 3,517 — — 3,517 Inventories — — 644,154 946 — 645,100 Prepaid expenses and other current assets — — 97,058 337 — 97,395 Assets held for sale — — 131,742 — (151 ) 131,591 Total current assets 14,994 — 1,947,857 7,279 (151 ) 1,969,979 PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation — — 1,676,248 32,435 — 1,708,683 GOODWILL — — 1,300,560 12,757 — 1,313,317 INTANGIBLE ASSETS, net of accumulated amortization — — 1,051,683 13,272 — 1,064,955 INVESTMENTS IN UNCONSOLIDATED ENTITIES — — 16,369 — — 16,369 NET INTERCOMPANY RECEIVABLES (PAYABLES) 2,116,433 — (2,095,213 ) (21,220 ) — — INVESTMENTS IN CONSOLIDATED SUBSIDIARIES 1,727,675 — 24,623 — (1,752,298 ) — LOAN RECEIVABLE-AFFILIATE — — 318 — — 318 OTHER NONCURRENT ASSETS — — 242,765 — — 242,765 Total assets $ 3,859,102 $ — $ 4,165,210 $ 44,523 $ (1,752,449 ) $ 6,316,386 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable-trade $ — $ — $ 865,117 $ 1,651 $ — $ 866,768 Accounts payable-affiliates 1 — 473 — — 474 Accrued expenses and other payables 34,879 — 194,937 936 — 230,752 Advance payments received from customers — — 46,326 675 (151 ) 46,850 Current maturities of long-term debt — — 2,887 373 — 3,260 Liabilities held for sale — — 16,574 — — 16,574 Total current liabilities 34,880 — 1,126,314 3,635 (151 ) 1,164,678 LONG-TERM DEBT, net of debt issuance costs and current maturities 1,774,042 — 1,147,180 744 — 2,921,966 OTHER NONCURRENT LIABILITIES — — 164,041 4,240 — 168,281 CLASS A 10.75% CONVERTIBLE PREFERRED UNITS 76,056 — — — — 76,056 REDEEMABLE NONCONTROLLING INTEREST — — — 4,011 — 4,011 EQUITY: Partners’ equity 1,974,124 — 1,728,919 32,127 (1,759,568 ) 1,975,602 Accumulated other comprehensive loss — — (1,244 ) (234 ) — (1,478 ) Noncontrolling interests — — — — 7,270 7,270 Total equity 1,974,124 — 1,727,675 31,893 (1,752,298 ) 1,981,394 Total liabilities and equity $ 3,859,102 $ — $ 4,165,210 $ 44,523 $ (1,752,449 ) $ 6,316,386 Unaudited Condensed Consolidating Balance Sheet (in Thousands) March 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 6,257 $ — $ 2,903 $ 3,104 $ — $ 12,264 Accounts receivable-trade, net of allowance for doubtful accounts — — 795,479 5,128 — 800,607 Accounts receivable-affiliates — — 6,711 — — 6,711 Inventories — — 560,769 663 — 561,432 Prepaid expenses and other current assets — — 102,703 490 — 103,193 Total current assets 6,257 — 1,468,565 9,385 — 1,484,207 PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation — — 1,725,383 64,890 — 1,790,273 GOODWILL — — 1,437,759 13,957 — 1,451,716 INTANGIBLE ASSETS, net of accumulated amortization — — 1,149,524 14,432 — 1,163,956 INVESTMENTS IN UNCONSOLIDATED ENTITIES — — 187,423 — — 187,423 NET INTERCOMPANY RECEIVABLES (PAYABLES) 2,424,730 — (2,408,189 ) (16,541 ) — — INVESTMENTS IN CONSOLIDATED SUBSIDIARIES 1,978,158 — 47,598 — (2,025,756 ) — LOAN RECEIVABLE-AFFILIATE — — 3,200 — — 3,200 OTHER NONCURRENT ASSETS — — 239,436 168 — 239,604 Total assets $ 4,409,145 $ — $ 3,850,699 $ 86,291 $ (2,025,756 ) $ 6,320,379 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable-trade $ — $ — $ 657,077 $ 944 $ — $ 658,021 Accounts payable-affiliates 1 — 7,907 10 — 7,918 Accrued expenses and other payables 42,150 — 164,012 963 — 207,125 Advance payments received from customers — — 35,107 837 — 35,944 Current maturities of long-term debt 25,000 — 4,211 379 — 29,590 Total current liabilities 67,151 — 868,314 3,133 — 938,598 LONG-TERM DEBT, net of debt issuance costs and current maturities 2,138,048 — 824,370 1,065 — 2,963,483 OTHER NONCURRENT LIABILITIES — — 179,857 4,677 — 184,534 CLASS A 10.75% CONVERTIBLE PREFERRED UNITS 63,890 — — — — 63,890 REDEEMABLE NONCONTROLLING INTEREST — — — 3,072 — 3,072 EQUITY: Partners’ equity 2,140,056 — 1,979,785 74,545 (2,052,502 ) 2,141,884 Accumulated other comprehensive loss — — (1,627 ) (201 ) — (1,828 ) Noncontrolling interests — — — — 26,746 26,746 Total equity 2,140,056 — 1,978,158 74,344 (2,025,756 ) 2,166,802 Total liabilities and equity $ 4,409,145 $ — $ 3,850,699 $ 86,291 $ (2,025,756 ) $ 6,320,379
Schedule of Unaudited Condensed Consolidating Statements of Operations	Unaudited Condensed Consolidating Statement of Operations (in Thousands) Three Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated REVENUES $ — $ — $ 4,454,133 $ 10,818 $ (1,688 ) $ 4,463,263 COST OF SALES — — 4,269,586 4,910 (1,688 ) 4,272,808 OPERATING COSTS AND EXPENSES: Operating — — 82,468 2,378 — 84,846 General and administrative — — 29,033 185 — 29,218 Depreciation and amortization — — 61,961 1,379 — 63,340 (Gain) loss on disposal or impairment of assets, net — — (111,509 ) 29 — (111,480 ) Operating Income — — 122,594 1,937 — 124,531 OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — 3,426 — — 3,426 Interest expense (36,019 ) — (15,752 ) (228 ) 209 (51,790 ) Loss on early extinguishment of liabilities, net (21,141 ) — — — — (21,141 ) Other income, net — — 2,298 18 (209 ) 2,107 (Loss) Income Before Income Taxes (57,160 ) — 112,566 1,727 — 57,133 INCOME TAX EXPENSE — — (364 ) — — (364 ) EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES 113,416 — 1,214 — (114,630 ) — Net Income 56,256 — 113,416 1,727 (114,630 ) 56,769 LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (89 ) (89 ) LESS: NET INCOME ATTRIBUTABLE TO REDEEMABLE NONCONTROLLING INTERESTS (424 ) (424 ) LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS (16,219 ) (16,219 ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER (73 ) (73 ) NET INCOME ALLOCATED TO COMMON UNITHOLDERS $ 56,256 $ — $ 113,416 $ 1,727 $ (131,435 ) $ 39,964 Unaudited Condensed Consolidating Statement of Operations (in Thousands) Three Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated REVENUES $ — $ — $ 3,393,541 $ 14,249 $ (1,149 ) $ 3,406,641 COST OF SALES — — 3,226,175 2,996 (1,149 ) 3,228,022 OPERATING COSTS AND EXPENSES: Operating — — 72,911 4,070 — 76,981 General and administrative — — 18,090 190 — 18,280 Depreciation and amortization — — 58,091 2,676 — 60,767 Loss (gain) on disposal or impairment of assets, net — — 37 (3 ) — 34 Operating Income — — 18,237 4,320 — 22,557 OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — 1,279 — — 1,279 Interest expense (26,217 ) — (15,340 ) (98 ) 219 (41,436 ) Other income, net — — 20,206 20 (219 ) 20,007 (Loss) Income Before Income Taxes (26,217 ) — 24,382 4,242 — 2,407 INCOME TAX EXPENSE — — (1,114 ) — — (1,114 ) EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES 27,193 — 3,925 — (31,118 ) — Net Income 976 — 27,193 4,242 (31,118 ) 1,293 LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (317 ) (317 ) LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS (8,906 ) (8,906 ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER (22 ) (22 ) NET INCOME ALLOCATED TO COMMON UNITHOLDERS $ 976 $ — $ 27,193 $ 4,242 $ (40,363 ) $ (7,952 ) Unaudited Condensed Consolidating Statement of Operations (in Thousands) Nine Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated REVENUES $ — $ — $ 12,150,896 $ 20,261 $ (2,999 ) $ 12,168,158 COST OF SALES — — 11,679,386 9,250 (2,999 ) 11,685,637 OPERATING COSTS AND EXPENSES: Operating — — 231,376 5,909 — 237,285 General and administrative — — 77,190 499 — 77,689 Depreciation and amortization — — 188,893 3,534 — 192,427 (Gain) loss on disposal or impairment of assets, net — — (12,436 ) 1,194 — (11,242 ) Revaluation of liabilities — — 5,600 — — 5,600 Operating Loss — — (19,113 ) (125 ) — (19,238 ) OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — 7,270 — — 7,270 Interest expense (111,609 ) — (39,576 ) (681 ) 617 (151,249 ) Loss on early extinguishment of liabilities, net (22,479 ) — — — — (22,479 ) Other income, net — — 6,656 74 (617 ) 6,113 Loss Before Income Taxes (134,088 ) — (44,763 ) (732 ) — (179,583 ) INCOME TAX EXPENSE — — (934 ) — — (934 ) EQUITY IN NET LOSS OF CONSOLIDATED SUBSIDIARIES (46,389 ) — (692 ) — 47,081 — Net Loss (180,477 ) — (46,389 ) (732 ) 47,081 (180,517 ) LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (221 ) (221 ) LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NONCONTROLLING INTERESTS 261 261 LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS (42,001 ) (42,001 ) LESS: NET LOSS ALLOCATED TO GENERAL PARTNER 121 121 LESS: REPURCHASE OF WARRANTS (349 ) (349 ) NET LOSS ALLOCATED TO COMMON UNITHOLDERS $ (180,477 ) $ — $ (46,389 ) $ (732 ) $ 4,892 $ (222,706 ) Unaudited Condensed Consolidating Statement of Operations (in Thousands) Nine Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated REVENUES $ — $ — $ 9,142,575 $ 33,718 $ (2,144 ) $ 9,174,149 COST OF SALES — — 8,720,039 5,297 (2,144 ) 8,723,192 OPERATING COSTS AND EXPENSES: Operating — — 212,542 12,866 — 225,408 General and administrative — — 87,402 675 — 88,077 Depreciation and amortization — — 152,140 8,136 — 160,276 Gain on disposal or impairment of assets, net — — (203,406 ) (27 ) — (203,433 ) Operating Income — — 173,858 6,771 — 180,629 OTHER INCOME (EXPENSE): Equity in earnings of unconsolidated entities — — 1,726 — — 1,726 Revaluation of investments — — (14,365 ) — — (14,365 ) Interest expense (58,907 ) — (46,238 ) (551 ) 380 (105,316 ) Gain on early extinguishment of liabilities, net 8,614 — 22,276 — — 30,890 Other income, net — — 26,196 44 (380 ) 25,860 (Loss) Income Before Income Taxes (50,293 ) — 163,453 6,264 — 119,424 INCOME TAX EXPENSE — — (2,036 ) — — (2,036 ) EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES 161,590 — 173 — (161,763 ) — Net Income 111,297 — 161,590 6,264 (161,763 ) 117,388 LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (6,091 ) (6,091 ) LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS (20,958 ) (20,958 ) LESS: NET INCOME ALLOCATED TO GENERAL PARTNER (180 ) (180 ) NET INCOME ALLOCATED TO COMMON UNITHOLDERS $ 111,297 $ — $ 161,590 $ 6,264 $ (188,992 ) $ 90,159
Schedule of Unaudited Condensed Consolidating Statements of Comprehensive Income (Loss)	Unaudited Condensed Consolidating Statements of Comprehensive Income (Loss) (in Thousands) Three Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated Net income $ 56,256 $ — $ 113,416 $ 1,727 $ (114,630 ) $ 56,769 Other comprehensive inco me (loss) — — 795 (11 ) — 784 Comprehensive income $ 56,256 $ — $ 114,211 $ 1,716 $ (114,630 ) $ 57,553 Three Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated Net income $ 976 $ — $ 27,193 $ 4,242 $ (31,118 ) $ 1,293 Other comprehensive income (loss) — — 568 (23 ) — 545 Comprehensive income $ 976 $ — $ 27,761 $ 4,219 $ (31,118 ) $ 1,838 Nine Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated Net loss $ (180,477 ) $ — $ (46,389 ) $ (732 ) $ 47,081 $ (180,517 ) Other comprehensive inco me (loss) — — 383 (33 ) — 350 Comprehensive loss $ (180,477 ) $ — $ (46,006 ) $ (765 ) $ 47,081 $ (180,167 ) Nine Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidating Consolidated Net income $ 111,297 $ — $ 161,590 $ 6,264 $ (161,763 ) $ 117,388 Other comprehensive income (loss) — — 93 (33 ) — 60 Comprehensive income $ 111,297 $ — $ 161,683 $ 6,231 $ (161,763 ) $ 117,448
Schedule of Unaudited Condensed Consolidating Statements of Cash Flows	Unaudited Condensed Consolidating Statement of Cash Flows (in Thousands) Nine Months Ended December 31, 2017 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 415,012 $ — $ (447,316 ) $ 36,365 $ 4,061 INVESTING ACTIVITIES: Capital expenditures — — (97,971 ) (1,413 ) (99,384 ) Acquisitions, net of cash acquired — — (49,081 ) (400 ) (49,481 ) Cash flows from settlements of commodity derivatives — — (85,823 ) — (85,823 ) Proceeds from sales of assets — — 33,673 — 33,673 Proceeds from sale of interest in Glass Mountain — — 292,117 — 292,117 Transaction with an unconsolidated entity (Note 13) — — (6,424 ) — (6,424 ) Investments in unconsolidated entities — — (21,461 ) — (21,461 ) Distributions of capital from unconsolidated entities — — 11,710 — 11,710 Repayments on loan for natural gas liquids facility — — 7,425 — 7,425 Loan to affiliate — — (1,460 ) — (1,460 ) Repayments on loan to affiliate — — 4,160 — 4,160 Other (Note 14) — — 20,000 — 20,000 Net cash provided by (used in) investing activities — — 106,865 (1,813 ) 105,052 FINANCING ACTIVITIES: Proceeds from borrowings under Revolving Credit Facility — — 1,674,500 — 1,674,500 Payments on Revolving Credit Facility — — (1,349,500 ) — (1,349,500 ) Repayment and repurchase of senior secured and senior unsecured notes (415,568 ) — — — (415,568 ) Payments on other long-term debt — — (3,971 ) (390 ) (4,361 ) Debt issuance costs (693 ) — (1,804 ) — (2,497 ) Contributions from noncontrolling interest owners, net — — — 23 23 Distributions to general and common unit partners and preferred unitholders (166,589 ) — — — (166,589 ) Distributions to noncontrolling interest owners — — — (3,082 ) (3,082 ) Proceeds from sale of preferred units, net of offering costs 202,731 — — — 202,731 Repurchase of warrants (10,549 ) — — — (10,549 ) Common unit repurchases and cancellations (15,608 ) — — — (15,608 ) Payments for settlement and early extinguishment of liabilities — — (2,408 ) — (2,408 ) Net changes in advances with consolidated entities 1 — 31,910 (31,911 ) — Net cash (used in) provided by financing activities (406,275 ) — 348,727 (35,360 ) (92,908 ) Net increase (decrease) in cash and cash equivalents 8,737 — 8,276 (808 ) 16,205 Cash and cash equivalents, beginning of period 6,257 — 2,903 3,104 12,264 Cash and cash equivalents, end of period $ 14,994 $ — $ 11,179 $ 2,296 $ 28,469 Unaudited Condensed Consolidating Statement of Cash Flows (in Thousands) Nine Months Ended December 31, 2016 NGL Energy NGL Energy Guarantor Non-Guarantor Consolidated OPERATING ACTIVITIES: Net cash used in operating activities $ (48,850 ) $ — $ (63,850 ) $ (2,872 ) $ (115,572 ) INVESTING ACTIVITIES: Capital expenditures — — (257,734 ) (6,846 ) (264,580 ) Acquisitions, net of cash acquired — — (116,153 ) (11,360 ) (127,513 ) Cash flows from settlements of commodity derivatives — — (82,815 ) — (82,815 ) Proceeds from sales of assets — — 14,136 59 14,195 Proceeds from sale of TLP common units — — 112,370 — 112,370 Proceeds from sale of Grassland — — — 22,000 22,000 Distributions of capital from unconsolidated entities — — 7,608 — 7,608 Repayments on loan for natural gas liquids facility — — 6,585 — 6,585 Loan to affiliate — — (2,700 ) — (2,700 ) Repayments on loan to affiliate — — 655 — 655 Payment to terminate development agreement — — (16,875 ) — (16,875 ) Net cash (used in) provided by investing activities — — (334,923 ) 3,853 (331,070 ) FINANCING ACTIVITIES: Proceeds from borrowings under Revolving Credit Facility — — 1,176,000 — 1,176,000 Payments on Revolving Credit Facility — — (1,510,500 ) — (1,510,500 ) Issuance of senior unsecured notes 700,000 — — — 700,000 Repurchase of senior unsecured notes (15,129 ) — — — (15,129 ) Payments on other long-term debt — — (6,359 ) (190 ) (6,549 ) Debt issuance costs (12,536 ) — (72 ) — (12,608 ) Contributions from general partner 59 — — — 59 Contributions from noncontrolling interest owners, net — — — 639 639 Distributions to general and common unit partners and preferred unitholders (132,135 ) — — — (132,135 ) Distributions to noncontrolling interest owners — — — (3,292 ) (3,292 ) Proceeds from sale of preferred units, net of offering costs 234,989 — — — 234,989 Proceeds from sale of common units, net of offering costs 43,896 — — — 43,896 Payments for settlement and early extinguishment of liabilities — — (27,977 ) — (27,977 ) Net changes in advances with consolidated entities (772,232 ) — 769,955 2,277 — Net cash provided by (used in) financing activities 46,912 — 401,047 (566 ) 447,393 Net (decrease) increase in cash and cash equivalents (1,938 ) — 2,274 415 751 Cash and cash equivalents, beginning of period 25,749 — 784 1,643 28,176 Cash and cash equivalents, end of period $ 23,811 $ — $ 3,058 $ 2,058 $ 28,927

Organization and Operations (De

Organization and Operations (Details)	Dec. 31, 2017stateterminal
Liquids
Organization and operations
Number of owned terminals | terminal	21
Retail propane
Organization and operations
Number of states in which entity operates | state	30

Significant Accounting Polici40

Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Revenues [Abstract]
Amortization of contract liabilities to revenues	$ 0.3	$ 1.2	$ 1	$ 3.7

Significant Accounting Polici41

Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Inventories
Crude oil	$ 77,306	$ 146,857
Natural gas liquids:
Propane	118,998	38,631
Butane	40,670	5,992
Other	11,778	6,035
Refined products:
Gasoline	214,717	193,051
Diesel	129,126	98,237
Renewables:
Ethanol	39,631	42,009
Biodiesel	8,124	21,410
Other	4,750	9,210
Total	$ 645,100	$ 561,432

Significant Accounting Polici42

Significant Accounting Policies - Investments in Unconsolidated Entities (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2017	Mar. 31, 2017
Investments in Unconsolidated Entities
Carrying value	$ 16,369,000	$ 16,369,000			$ 187,423,000
Proceeds from sale of interest in Glass Mountain		$ 292,117,000	$ 0
Glass Mountain Pipeline, LLC | Crude oil logistics | Operating segment
Investments in Unconsolidated Entities
Ownership interest	0.00%	0.00%		50.00%
Carrying value	$ 0	$ 0			172,098,000
E Energy Adams, LLC | Refined products and renewables | Operating segment
Investments in Unconsolidated Entities
Ownership interest	19.00%	19.00%
Carrying value	$ 14,369,000	$ 14,369,000			12,952,000
Water treatment and disposal facility | Water solutions | Operating segment
Investments in Unconsolidated Entities
Ownership interest	50.00%	50.00%
Carrying value	$ 2,000,000	$ 2,000,000			2,147,000
Victory Propane, LLC | Retail propane | Operating segment
Investments in Unconsolidated Entities
Ownership interest	50.00%	50.00%
Carrying value	$ 0	$ 0			$ 226,000
Glass Mountain Pipeline, LLC
Investments in Unconsolidated Entities
Proceeds from sale of interest in Glass Mountain	292,100,000
Gain on sale of interest in Glass Mountain	$ (108,600,000)

Significant Accounting Polici43

Significant Accounting Policies - Variable Interest Entity (Details) $ in Millions	Dec. 31, 2017USD ($)
Loan Agreement | Equity method investees
Variable Interest Entity [Line Items]
Maximum borrowing capacity	$ 5

Significant Accounting Polici44

Significant Accounting Policies - Other Noncurrent Assets (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2017USD ($)bbl	Mar. 31, 2017USD ($)bbl
Other Assets, Noncurrent [Abstract]
Loan receivable	$ 32,396	$ 40,684
Line fill	36,446	30,628
Tank bottoms	42,044	42,044
Minimum shipping fees - pipeline commitments	82,301	67,996
Other	49,578	58,252
Total	$ 242,765	$ 239,604
Other Noncurrent Assets [Line Items]
Number of barrels of refined product | bbl	366,212	366,212
Crude oil
Other Noncurrent Assets [Line Items]
Number of barrels of product | bbl	377,320	427,193
Propane sales
Other Noncurrent Assets [Line Items]
Number of barrels of product | bbl	262,000
Customer Contracts | Contract No. 1
Other Noncurrent Assets [Line Items]
Pipeline commitments, period to recover amount	2 years 3 months 18 days
Customer Contracts | Contract No. 2
Other Noncurrent Assets [Line Items]
Pipeline commitments, period to recover amount	2 years 9 months 18 days
Crude oil logistics
Other Noncurrent Assets [Line Items]
Number of contracts	2

Significant Accounting Polici45

Significant Accounting Policies - Accrued Expenses and Other Payables (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Accounting Policies [Abstract]
Accrued compensation and benefits	$ 16,237	$ 22,227
Excise and other tax liabilities	48,803	64,051
Derivative liabilities	34,713	27,622
Accrued interest	33,389	44,418
Product exchange liabilities	24,312	1,693
Deferred gain on sale of general partner interest in TLP	30,113	30,113
Other	43,185	17,001
Total	$ 230,752	$ 207,125

Significant Accounting Polici46

Significant Accounting Policies - Deferred Gain on Sale of General Partner Interest in TLP (Details) - USD ($) $ in Thousands	Feb. 01, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deferred gain on sale of general partner interest in TLP, current		$ 30,113		$ 30,113		$ 30,113
General Partner Interest in TLP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deferred gain on disposal, amortization period	7 years
Recognized gain		7,500	$ 7,500	22,600	$ 22,600
General Partner Interest in TLP | Accrued expenses and other payables
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deferred gain on sale of general partner interest in TLP, current		30,100		30,100
General Partner Interest in TLP | Other noncurrent liabilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deferred gain on sale of general partner interest in TLP, noncurrent		$ 116,700		$ 116,700

Significant Accounting Polici47

Significant Accounting Policies - Noncontrolling Interests (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2017USD ($)
Accounting Policies [Abstract]
Redemption valuation adjustment	$ (1,201)

Income (Loss) Per Common Unit48

Income (Loss) Per Common Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Income (Loss) Per Common Unit
Basic weighted average common units outstanding (in units)	120,844,008	107,966,901	120,899,502	106,114,668
Diluted weighted average common units outstanding (in units)	124,161,966	107,966,901	120,899,502	109,554,928
Net income (loss)	$ 56,769	$ 1,293	$ (180,517)	$ 117,388
Less: Net income attributable to noncontrolling interests	(89)	(317)	(221)	(6,091)
Less: Net (income) loss attributable to redeemable noncontrolling interests	(424)	0	261	0
NET INCOME (LOSS) ATTRIBUTABLE TO NGL ENERGY PARTNERS LP	56,256	976	(180,477)	111,297
Less: Distributions to preferred unitholders	(16,219)	(8,906)	(42,001)	(20,958)
Less: Net (income) loss allocated to general partner	(73)	(22)	121	(180)
Less: Repurchase of warrants	0	0	(349)	0
NET INCOME (LOSS) ALLOCATED TO COMMON UNITHOLDERS	$ 39,964	$ (7,952)	$ (222,706)	$ 90,159
Basic income (loss) per common unit (in dollars per unit)	$ 0.33	$ (0.07)	$ (1.84)	$ 0.85
Diluted income (loss) per common unit (in dollars per unit)	$ 0.32	$ (0.07)	$ (1.84)	$ 0.82
Common units
Income (Loss) Per Common Unit
Basic weighted average common units outstanding (in units)	120,844,008	107,966,901	120,899,502	106,114,668
Diluted weighted average common units outstanding (in units)	124,161,966	107,966,901	120,899,502	109,554,928
Basic income (loss) per common unit (in dollars per unit)	$ 0.33	$ (0.07)	$ (1.84)	$ 0.85
Diluted income (loss) per common unit (in dollars per unit)	$ 0.32	$ (0.07)	$ (1.84)	$ 0.82
Common units | Performance awards
Income (Loss) Per Common Unit
Weighted average number diluted shares outstanding adjustment (in units)	0	0	0	111,826
Common units | Restricted units
Income (Loss) Per Common Unit
Weighted average number diluted shares outstanding adjustment (in units)	403,575	0	0	0
Common units | Warrant
Income (Loss) Per Common Unit
Weighted average number diluted shares outstanding adjustment (in units)	2,914,383	0	0	3,328,434

Acquisitions - Acquisition of R

Acquisitions - Acquisition of Remaining Interest in NGL Solids Solutions, LLC (Details) $ in Thousands	Apr. 17, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Business Acquisition
Carrying value of noncontrolling interest				$ 22,883
Gain on disposal or impairment of assets, net		$ 111,480	$ (34)	11,242	$ 203,433
NGL Solids Solutions
Business Acquisition
Ownership interest acquired	50.00%
Total consideration to acquire additional interest	$ 23,100
Total cash to acquire additional interest	20,000
Value of non-compete agreement terminated	$ 3,100
Number of parcels of land acquired	2
Noncontrolling interest, increase from acquisition of assets	$ 22,900
Payments to acquire land	200
Carrying value of noncontrolling interest	$ 16,600
Gain on disposal or impairment of assets, net				$ 1,300

Acquisitions - Retail Propane B

Acquisitions - Retail Propane Businesses (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)facility	Dec. 31, 2016USD ($)	Mar. 31, 2017USD ($)
Business Acquisition
Goodwill	$ 1,313,317		$ 1,313,317		$ 1,451,716
Revenues	4,463,263	$ 3,406,641	12,168,158	$ 9,174,149
Operating income	124,531	$ 22,557	$ (19,238)	$ 180,629
Retail Propane Business 2018 Acquisitions Acquisition Accounting In Process
Business Acquisition
Business combination number for which acquisition accounting is not completed | facility			6
Total consideration to acquire businesses			$ 30,500
Current assets	2,042		2,042
Property, plant and equipment	10,686		10,686
Goodwill	3,010		3,010
Intangible assets	16,625		16,625
Current liabilities	(1,586)		(1,586)
Other noncurrent liabilities	(291)		(291)
Fair value of net assets acquired	$ 30,486		30,486
Revenues			8,800
Operating income			$ 800
Business combination number disclosed for which revenues and operating income | facility			3
Retail Propane Business 2017 Acquisitions Accounting Completed
Business Acquisition
Business combination number for which acquisition accounting is completed | facility			4
Adjustment, current assets			$ (200)
Adjustment, current liabilities			400
Minimum | Retail Propane Business 2017 Acquisitions Accounting Completed
Business Acquisition
Adjustment, property, plant, and equipment			$ (100)

Acquisitions - Water Solutions

Acquisitions - Water Solutions Facilities (Details) - Water Solutions Acquisitions 2017 Acquisitions Accounting Completed $ in Millions	6 Months Ended
	Sep. 30, 2017USD ($)facility
Business Acquisition
Business combination number for which acquisition accounting is completed | facility	2
Adjustment, property, plant, and equipment	$ (0.2)
Minimum
Business Acquisition
Adjustment, other noncurrent liabilities	$ 0.1

Property, Plant and Equipment52

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017
Property, Plant and Equipment
Gross property, plant and equipment	$ 2,128,857		$ 2,128,857		$ 2,165,867
Accumulated depreciation	(420,174)		(420,174)		(375,594)
Net property, plant and equipment	1,708,683		1,708,683		1,790,273
Depreciation expense	32,629	$ 32,039	98,761	$ 88,396
Capitalized interest expense	66	$ 1,429	66	$ 6,233
Gain (loss) on sales and write-downs of certain assets	(4,700)		(4,000)
Property, plant and equipment disposals	7,500		10,600
Natural gas liquids terminal and storage assets
Property, Plant and Equipment
Gross property, plant and equipment	238,092		$ 238,092		207,825
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
Pipeline and related facilities
Property, Plant and Equipment
Gross property, plant and equipment	255,930		$ 255,930		248,582
Pipeline and related facilities | Minimum
Property, Plant and Equipment
Useful life			30 years
Pipeline and related facilities | Maximum
Property, Plant and Equipment
Useful life			40 years
Refined products terminal assets and equipment
Property, Plant and Equipment
Gross property, plant and equipment	7,062		$ 7,062		6,736
Refined products terminal assets and equipment | Minimum
Property, Plant and Equipment
Useful life			15 years
Refined products terminal assets and equipment | Maximum
Property, Plant and Equipment
Useful life			25 years
Retail propane equipment
Property, Plant and Equipment
Gross property, plant and equipment	195,414		$ 195,414		239,417
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
Gross property, plant and equipment	179,691		$ 179,691		198,480
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
Gross property, plant and equipment	585,569		$ 585,569		557,100
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
Gross property, plant and equipment	218,056		$ 218,056		203,003
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			30 years
Barges and towboats
Property, Plant and Equipment
Gross property, plant and equipment	91,884		$ 91,884		91,037
Barges and towboats | Minimum
Property, Plant and Equipment
Useful life			5 years
Barges and towboats | Maximum
Property, Plant and Equipment
Useful life			30 years
Information technology equipment
Property, Plant and Equipment
Gross property, plant and equipment	43,495		$ 43,495		43,880
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
Gross property, plant and equipment	167,446		$ 167,446		161,957
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
Gross property, plant and equipment	56,593		$ 56,593		56,545
Tank bottoms and line fill
Property, Plant and Equipment
Gross property, plant and equipment	20,094		20,094		24,462
Other
Property, Plant and Equipment
Gross property, plant and equipment	14,802		$ 14,802		39,132
Other | Minimum
Property, Plant and Equipment
Useful life			3 years
Other | Maximum
Property, Plant and Equipment
Useful life			20 years
Construction in progress
Property, Plant and Equipment
Gross property, plant and equipment	54,729		$ 54,729		$ 87,711
Crude oil logistics
Property, Plant and Equipment
Gain (loss) on sales and write-downs of certain assets	$ 2,800		$ 6,600

Goodwill (Details)

Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2017USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,451,716
Revisions to acquisition accounting (Note 4)	427
Acquisitions (Note 4)	3,010
Impairment	(116,877)
Assets held for sale (Note 14)	(24,959)
Balance at end of period	1,313,317
Crude oil logistics
Goodwill [Roll Forward]
Balance at beginning of period	579,846
Revisions to acquisition accounting (Note 4)	0
Acquisitions (Note 4)	0
Impairment	0
Assets held for sale (Note 14)	0
Balance at end of period	579,846
Water solutions
Goodwill [Roll Forward]
Balance at beginning of period	424,270
Revisions to acquisition accounting (Note 4)	195
Acquisitions (Note 4)	0
Impairment	0
Assets held for sale (Note 14)	0
Balance at end of period	424,465
Liquids
Goodwill [Roll Forward]
Balance at beginning of period	266,046
Revisions to acquisition accounting (Note 4)	0
Acquisitions (Note 4)	0
Impairment	(116,877)
Assets held for sale (Note 14)	0
Balance at end of period	149,169
Retail propane
Goodwill [Roll Forward]
Balance at beginning of period	130,427
Revisions to acquisition accounting (Note 4)	232
Acquisitions (Note 4)	3,010
Impairment	0
Assets held for sale (Note 14)	(24,959)
Balance at end of period	108,710
Refined products and renewables
Goodwill [Roll Forward]
Balance at beginning of period	51,127
Revisions to acquisition accounting (Note 4)	0
Acquisitions (Note 4)	0
Impairment	0
Assets held for sale (Note 14)	0
Balance at end of period	$ 51,127

Goodwill Impairment (Details)

Goodwill Impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2017
Goodwill
Goodwill	$ 1,313,317		$ 1,451,716
Sawtooth
Goodwill
Goodwill		$ 66,200
Goodwill, impairment test, assumed per year increase in commodity prices		2.00%
Goodwill, impairment test, assumed per year increase in rental fees		4.00%
Goodwill, impairment test, discount rate		12.00%
Reporting unit, percentage of fair value below carrying amount		32.00%

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Amortizable
Finite-lived intangible assets, gross	$ 1,503,477	$ 1,558,411
Accumulated amortization	(455,532)	(414,605)
Finite-lived intangible assets, net	1,047,945	1,143,806
INTANGIBLE ASSETS, net of accumulated amortization	1,064,955	1,163,956
Non-Amortizable
Indefinite-lived intangible assets	17,010	20,150
Gross carrying amount of intangible assets	$ 1,520,487	1,578,561
Weighted average remaining amortization period	11 years 4 months 24 days
Intangible assets written off related to the purchase of the remaining interest in a business	$ 1,800
Trade names
Non-Amortizable
Indefinite-lived intangible assets	17,010	20,150
Customer relationships
Amortizable
Finite-lived intangible assets, gross	882,256	906,782
Accumulated amortization	(352,364)	(316,242)
Finite-lived intangible assets, net	$ 529,892	590,540
Customer relationships | Minimum
Amortizable
Amortizable life	3 years
Customer relationships | Maximum
Amortizable
Amortizable life	20 years
Customer commitments
Amortizable
Amortizable life	10 years
Finite-lived intangible assets, gross	$ 310,000	310,000
Accumulated amortization	(36,167)	(12,917)
Finite-lived intangible assets, net	$ 273,833	297,083
Pipeline capacity rights
Amortizable
Amortizable life	30 years
Finite-lived intangible assets, gross	$ 161,785	161,785
Accumulated amortization	(15,697)	(11,652)
Finite-lived intangible assets, net	146,088	150,133
Rights-of-way and easements
Amortizable
Finite-lived intangible assets, gross	63,485	63,402
Accumulated amortization	(2,670)	(2,154)
Finite-lived intangible assets, net	$ 60,815	61,248
Rights-of-way and easements | Minimum
Amortizable
Amortizable life	1 year
Rights-of-way and easements | Maximum
Amortizable
Amortizable life	40 years
Executory contracts and other agreements
Amortizable
Finite-lived intangible assets, gross	$ 23,097	29,036
Accumulated amortization	(16,626)	(20,457)
Finite-lived intangible assets, net	$ 6,471	8,579
Executory contracts and other agreements | Minimum
Amortizable
Amortizable life	3 years
Executory contracts and other agreements | Maximum
Amortizable
Amortizable life	30 years
Non-compete agreements
Amortizable
Finite-lived intangible assets, gross	$ 17,988	32,984
Accumulated amortization	(6,767)	(17,762)
Finite-lived intangible assets, net	$ 11,221	15,222
Non-compete agreements | Minimum
Amortizable
Amortizable life	2 years
Non-compete agreements | Maximum
Amortizable
Amortizable life	32 years
Trade names
Amortizable
Finite-lived intangible assets, gross	$ 4,076	15,439
Accumulated amortization	(1,822)	(13,396)
Finite-lived intangible assets, net	$ 2,254	2,043
Trade names | Minimum
Amortizable
Amortizable life	1 year
Trade names | Maximum
Amortizable
Amortizable life	10 years
Debt issuance costs
Amortizable
Amortizable life	5 years
Finite-lived intangible assets, gross	$ 40,790	38,983
Accumulated amortization	(23,419)	(20,025)
Finite-lived intangible assets, net	$ 17,371	$ 18,958

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017
Amortization related to intangible assets
Amortization expense	$ 33,370	$ 32,202	$ 101,656	$ 82,155
Future amortization expense of intangible assets
2018 (three months)	32,936		32,936
2,019	128,009		128,009
2,020	124,632		124,632
2,021	111,519		111,519
2,022	96,432		96,432
Thereafter	554,417		554,417
Finite-lived intangible assets, net	1,047,945		1,047,945		$ 1,143,806
Depreciation and amortization
Amortization related to intangible assets
Amortization expense	30,711	28,728	93,666	71,880
Cost of sales
Amortization related to intangible assets
Amortization expense	1,505	1,753	4,596	5,098
Interest expense
Amortization related to intangible assets
Amortization expense	$ 1,154	$ 1,721	$ 3,394	$ 5,177

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Aug. 08, 2017	Mar. 31, 2017USD ($)
Long-Term Debt
Face amount	$ 2,948,109			$ 2,948,109			$ 3,026,531
Face amount, current portion	3,260			3,260			29,590
Face amount, long-term	2,944,849			2,944,849			2,996,941
Unamortized debt issuance costs	(22,883)			(22,883)			(33,458)
Book value	2,925,226			2,925,226			2,993,073
Book value, current	3,260			3,260			29,590
LONG-TERM DEBT, net of debt issuance costs and current maturities	2,921,966			2,921,966			2,963,483
Amortization of debt issuance costs	1,500		$ 1,200	4,800	$ 3,000
Expected Future Amortization of Debt Issuance Costs
2018 (three months)	1,283			1,283
2,019	5,124			5,124
2,020	4,191			4,191
2,021	3,810			3,810
2,022	3,229			3,229
Thereafter	5,246			5,246
Total	$ 22,883			22,883
Line of credit facility borrowing capacity allocated from one facility to another		$ 50,000		$ 150,000
Credit agreement dividend restrictions				The amendment, among other things, restricts us from increasing our distribution rate over the amount paid in the preceding quarter if our leverage ratio is greater than 4.25 to 1.
Financial Covenants in Credit Agreement
Senior secured notes dividend restrictions				In addition, the amendment also restricts us from increasing our distribution rate over the amount paid in the preceding quarter if our interest coverage ratio is less than 3.00 to 1.
Early repayment of senior unsecured notes				$ 415,568	$ 15,129
Revolving Credit Facility
Expected Future Amortization of Debt Issuance Costs
Interest rate	4.90%			4.90%
5.125% Senior Notes due 2019
Long-Term Debt
Face amount	$ 360,781			$ 360,781			379,458
Unamortized debt issuance costs	(2,015)			(2,015)			(3,191)
Book value	$ 358,766			$ 358,766			376,267
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	5.125%			5.125%
Financial Covenants in Credit Agreement
Early repayment of senior unsecured notes	$ 0			$ 18,677
Early repayment of subordinated debt, excluding accrued interest	0			18,641
Gain (loss) on early extinguishment of debt	0			(102)
Write off of deferred debt issuance costs				100
Revolving Credit Facility
Expected Future Amortization of Debt Issuance Costs
Maximum borrowing capacity	1,765,000			$ 1,765,000
Financial Covenants in Credit Agreement
Debt instrument, actual leverage ratio				5.13
Debt instrument, actual senior secured leverage ratio				0.35
Debt instrument, actual interest coverage ratio				2.32
Revolving Credit Facility | Minimum
Expected Future Amortization of Debt Issuance Costs
Commitments fees charged on unused capacity				0.375%
Financial Covenants in Credit Agreement
Debt instrument, covenant interest coverage ratio June 30, 2017 to March 31, 2018				2.25
Debt instrument, coverage interest coverage ratio March 31, 2018 to October 5, 2021				2.75
Revolving Credit Facility | Maximum
Expected Future Amortization of Debt Issuance Costs
Commitments fees charged on unused capacity				0.50%
Financial Covenants in Credit Agreement
Debt instrument, covenant leverage ratio June 30, 2017 to March 31, 2018				5.50
Debt instrument, covenant leverage ratio March 31, 2018 to March 31, 2019				4.75
Debt instrument, covenant leverage ratio March 31, 2019 to October 5, 2021				4.50
Debt instrument, covenant senior secured leverage ratio June 30, 2017 to March 31, 2018				2.50
Debt instrument, covenant senior secured leverage ratio March 31, 2018 to October 5, 2021				3.25
Revolving Credit Facility | LIBOR option
Expected Future Amortization of Debt Issuance Costs
Reference rate				1.53%
Interest rate margin added to variable rate base				3.00%
Revolving Credit Facility | Prime rate
Expected Future Amortization of Debt Issuance Costs
Reference rate				4.50%
Interest rate margin added to variable rate base				2.00%
Revolving Credit Facility | Expansion Capital Facility
Long-Term Debt
Face amount	125,000			$ 125,000			0
Unamortized debt issuance costs	0			0			0
Book value	125,000			125,000			0
Expected Future Amortization of Debt Issuance Costs
Maximum borrowing capacity	565,000			565,000
Revolving Credit Facility | Working Capital Facility
Long-Term Debt
Face amount	1,014,500			1,014,500			814,500
Unamortized debt issuance costs	0			0			0
Book value	1,014,500			1,014,500			814,500
Expected Future Amortization of Debt Issuance Costs
Maximum borrowing capacity	$ 1,200,000			$ 1,200,000
Revolving Credit Facility | Letters of credit
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	3.00%			3.00%
Senior secured notes
Long-Term Debt
Face amount	$ 0			$ 0			250,000
Unamortized debt issuance costs	0			0			(4,559)
Book value	0			0			245,441
Financial Covenants in Credit Agreement
Repayments in semi-annual installments				19,500
Early repayment of senior secured notes	175,500			230,500
Cash paid (excluding payments of accrued interest)	192,979			250,179
Gain (loss) on early extinguishment of debt	(20,807)			(23,971)
Write off of deferred debt issuance costs	3,300			4,300
6.875% Senior Notes due 2021
Long-Term Debt
Face amount	367,048			367,048			367,048
Unamortized debt issuance costs	(4,817)			(4,817)			(5,812)
Book value	$ 362,231			$ 362,231			361,236
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	6.875%			6.875%
7.50% Senior Notes due 2023
Long-Term Debt
Face amount	$ 656,589			$ 656,589			700,000
Unamortized debt issuance costs	(9,515)			(9,515)			(11,329)
Book value	$ 647,074			$ 647,074			688,671
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	7.50%			7.50%
Financial Covenants in Credit Agreement
Early repayment of senior unsecured notes	$ 16,954			$ 43,411
Early repayment of subordinated debt, excluding accrued interest	17,434			42,893
Gain (loss) on early extinguishment of debt	(730)			(135)
Write off of deferred debt issuance costs	200			700
Registration exchange of unsecured securities						99.98%
6.125% Senior Notes due 2025
Long-Term Debt
Face amount	412,507			412,507			500,000
Unamortized debt issuance costs	(6,536)			(6,536)			(8,567)
Book value	$ 405,971			$ 405,971			491,433
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	6.125%			6.125%
Financial Covenants in Credit Agreement
Early repayment of senior unsecured notes	$ 71,793			$ 87,493
Early repayment of subordinated debt, excluding accrued interest	70,248			84,356
Gain (loss) on early extinguishment of debt	396			1,729
Write off of deferred debt issuance costs	1,100			1,400
Registration exchange of unsecured securities						99.98%
Other long-term debt
Long-Term Debt
Face amount	11,684			11,684			15,525
Unamortized debt issuance costs	0			0			0
Book value	11,684			11,684			$ 15,525
Letters of credit | Working Capital Facility
Expected Future Amortization of Debt Issuance Costs
Outstanding letters of credit	182,100			182,100
Non-compete
Long-Term Debt
Face amount	$ 5,400			$ 5,400
Non-compete | Minimum
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	1.91%			1.91%
Non-compete | Maximum
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	7.00%			7.00%
Equipment loan
Long-Term Debt
Face amount	$ 6,300			$ 6,300
Equipment loan | Minimum
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	4.13%			4.13%
Equipment loan | Maximum
Expected Future Amortization of Debt Issuance Costs
Fixed interest rate	7.10%			7.10%

Long-Term Debt - Maturity Sched

Long-Term Debt - Maturity Schedule (Details) $ in Thousands	Dec. 31, 2017USD ($)
Maturities
2018 (three months)	$ 604
2,019	2,939
2,020	363,099
2,021	5,470
2,022	1,506,834
Thereafter	1,069,163
Total	2,948,109
Revolving Credit Facility
Maturities
2,022	1,139,500
Total	1,139,500
Senior Unsecured Notes
Maturities
2,020	360,781
2,022	367,048
Thereafter	1,069,096
Total	1,796,925
Other long-term debt
Maturities
2018 (three months)	604
2,019	2,939
2,020	2,318
2,021	5,470
2,022	286
Thereafter	67
Total	$ 11,684

Commitments and Contingencies -

Commitments and Contingencies - Environmental Matters (Details) $ in Millions	Dec. 31, 2017USD ($)
Environmental matter
Environmental matters liability	$ 2.3

Commitments and Contingencies60

Commitments and Contingencies - Asset Retirement Obligations (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2017USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of period	$ 8,181
Liabilities incurred	422
Liabilities assumed in acquisitions	21
Liabilities settled	(549)
Accretion expense	655
Balance at end of period	$ 8,730

Commitments and Contingencies61

Commitments and Contingencies - Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Future minimum lease payments
2018 (three months)	$ 34,721		$ 34,721
2,019	120,928		120,928
2,020	107,342		107,342
2,021	93,662		93,662
2,022	66,036		66,036
Thereafter	94,023		94,023
Total	516,712		516,712
Rental expense	$ 31,100	$ 32,000	$ 94,900	$ 88,900

Commitments and Contingencies62

Commitments and Contingencies - Pipeline Capacity Agreements (Details) - Pipeline capacity agreements $ in Thousands	Dec. 31, 2017USD ($)
Future minimum throughput payments
2018 (three months)	$ 13,001
2,019	52,042
2,020	42,351
Total	$ 107,394

Commitments and Contingencies63

Commitments and Contingencies - Construction Commitments (Details) $ in Millions	Dec. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Construction commitments	$ 6.2

Commitments and Contingencies64

Commitments and Contingencies - Purchase Commitments (Details) gal in Thousands, bbl in Thousands, $ in Thousands	Dec. 31, 2017USD ($)bblgal
Crude oil
Purchase commitments for crude oil and natural gas
Fixed-price purchase commitments, due in remainder of fiscal year	$ 51,001
Fixed-price purchase commitments (in barrels/gallons), due in remainder of fiscal year | bbl	899
Total fixed-price purchase commitments	$ 51,001
Total fixed-price purchase commitments (in barrels/gallons) | bbl	899
Index-price purchase commitments, due in remainder of fiscal year	$ 427,214
Index-price purchase commitments (in barrels/gallons), due in remainder of fiscal year | bbl	7,386
Index-price purchase commitments, due in second year	$ 790,287
Index-price purchase commitments (in barrels/gallons), due in second year | bbl	14,640
Index-price purchase commitments, due in third year	$ 511,636
Index-price purchase commitments (in barrels), due in third year | bbl	10,395
Index-price purchase commitments, due in fourth year	$ 438,851
Index-price purchase commitments (in barrels), due in fourth year | bbl	9,314
Index-price purchase commitments, due in fifth year	$ 357,603
Index-price purchase commitments (in barrels), due in fifth year | bbl	7,729
purchase obligation, due in sixth year	$ 447,158
ngl_UnrecordedUnconditionalPurchaseObligationOutstandingIndexPricePurchaseContractsVolumeDueinSixthYear | bbl	9,592
Total index-price purchase commitments	$ 2,972,749
Total index-price purchase commitments (in barrels/gallons) | bbl	59,056
Natural gas liquids
Purchase commitments for crude oil and natural gas
Fixed-price purchase commitments, due in remainder of fiscal year	$ 20,600
Fixed-price purchase commitments (in barrels/gallons), due in remainder of fiscal year | gal	26,213
Fixed-price purchase commitments, due in second year	$ 1,341
Fixed-price purchase commitments (in gallons), due in second year | gal	2,268
Total fixed-price purchase commitments	$ 21,941
Total fixed-price purchase commitments (in barrels/gallons) | gal	28,481
Index-price purchase commitments, due in remainder of fiscal year	$ 310,124
Index-price purchase commitments (in barrels/gallons), due in remainder of fiscal year | gal	319,467
Index-price purchase commitments, due in second year	$ 46,559
Index-price purchase commitments (in barrels/gallons), due in second year | gal	50,644
Total index-price purchase commitments	$ 356,683
Total index-price purchase commitments (in barrels/gallons) | gal	370,111

Commitments and Contingencies65

Commitments and Contingencies - Sale Commitments (Details) gal in Thousands, bbl in Thousands, $ in Thousands	Dec. 31, 2017USD ($)bblgal	Mar. 31, 2017USD ($)
Purchase commitments for crude oil and natural gas
Net commodity asset (liability)	$ (3,016)	$ 10,976
Crude oil
Purchase commitments for crude oil and natural gas
Fixed-price sale commitments, due in remainder of fiscal year	$ 63,247
Fixed-price sale commitments (in barrels/gallons), due in remainder of fiscal year | bbl	1,149
Total fixed-price sale commitments	$ 63,247
Total fixed-price sale commitments (in barrels/gallons) | bbl	1,149
Index-price sale commitments, due in remainder of fiscal year	$ 468,661
Index-price sale commitments (in barrels), due in remainder of fiscal year | bbl	7,872
Index-price sale commitments, due in second year	$ 389,596
Index-price sale commitments (in barrels/gallons), due in second year | bbl	7,311
Index-price sale commitments, due in third year	$ 59,885
Index-price sale commitments (in barrels), due in third year | bbl	1,070
Total index-price sale commitments	$ 918,142
Total index-price sale commitment (in barrels/gallons) | bbl	16,253
Natural gas liquids
Purchase commitments for crude oil and natural gas
Fixed-price sale commitments, due in remainder of fiscal year	$ 94,582
Fixed-price sale commitments (in barrels/gallons), due in remainder of fiscal year | gal	103,982
Fixed-price sale commitments, due in second year	$ 9,521
Fixed-price sale commitments (in gallons), due in second year | gal	12,298
Fixed-price sale commitments, due in third year	$ 162
Fixed-price sale commitments (in gallons), due in third year | gal	215
Total fixed-price sale commitments	$ 104,265
Total fixed-price sale commitments (in barrels/gallons) | gal	116,495
Index-price sale commitments, due in remainder of fiscal year	$ 285,758
Index-price sale commitments (in barrels), due in remainder of fiscal year | gal	247,918
Index-price sale commitments, due in second year	$ 7,914
Index-price sale commitments (in barrels/gallons), due in second year | gal	7,685
Total index-price sale commitments	$ 293,672
Total index-price sale commitment (in barrels/gallons) | gal	255,603
Prepaid expenses and other current assets
Purchase commitments for crude oil and natural gas
Net commodity asset (liability)	$ 33,400
Accrued expenses and other payables
Purchase commitments for crude oil and natural gas
Net commodity asset (liability)	$ 31,700

Equity - Partnership Equity (De

Equity - Partnership Equity (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017	Aug. 29, 2017
Equity
General partner interest		0.10%		0.10%
Limited partner interest		99.90%		99.90%
General partner's capital account, notional units issued (in units)	905	905
Notional units issued		$ 202,731
Common unit repurchase program, authorized amount					$ 15,000
Common unit repurchases (in units)	323,213	1,516,848
Common unit repurchases		$ 15,608	$ 0
Share repurchase program
Equity
Common unit repurchases	$ 3,800	$ 15,000
Common units
Equity
General partner interest		0.10%
Limited partner interest		99.90%
Minimum | General Partner
Equity
Notional units issued		$ 100

Equity - Distributions (Details

Equity - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 14, 2018	Jan. 23, 2018	Nov. 14, 2017	Oct. 19, 2017	Aug. 14, 2017	Jul. 20, 2017	May 15, 2017	Apr. 24, 2017
Distributions
Amount Per Unit (in dollars per unit)				$ 0.3900		$ 0.3900		$ 0.3900
Amount Paid/Payable to Limited Partners			$ 47,000		$ 47,460		$ 46,870
Amount Paid/Payable to General Partner			$ 81		$ 81		$ 80
Subsequent Event
Distributions
Amount Per Unit (in dollars per unit)		$ 0.3900
Amount Paid/Payable to Limited Partners	$ 47,223
Amount Paid/Payable to General Partner	$ 81

Equity - Class A Convertible Pr

Equity - Class A Convertible Preferred Units (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 23, 2017	Apr. 21, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017	Feb. 14, 2018	Nov. 14, 2017	Aug. 14, 2017	May 15, 2017	Jun. 30, 2016	Jun. 24, 2016
Preferred Units
Warrants outstanding (in units)			2,916,743		2,916,743							4,375,112
Accretion of beneficial conversion					$ 12,259
Exercise price (in dollars per unit)													$ 0.01
Conversion of warrants (in units)					607,653
Repurchase of warrants (in units)	850,716
Repurchase of warrants	$ (10,500)				$ (10,549)	$ 0
Minimum
Preferred Units
Proceeds from warrant exercises					$ 100
Class A Convertible Preferred Units
Preferred Units
Temporary equity, issued (in units)			19,942,169		19,942,169		19,942,169
Preferred units dividend rate					10.75%		10.75%
Oaktree Capital Management L.P. | Class A Convertible Preferred Units
Preferred Units
Proceeds from sale of convertible preferred units and warrants, net of offering costs		$ 235,000
Payments of stock issuance costs		$ 5,000
Accretion of beneficial conversion			$ 5,000	$ 2,500	$ 12,300	$ 6,300
Class of warrant or right, term		8 years
Preferred units dividend rate		10.75%
Preferred units, distributions declared									$ 6,449	$ 6,449	$ 6,449
Oaktree Capital Management L.P. | Class A Convertible Preferred Units | Subsequent Event
Preferred Units
Preferred units, distributions declared days after quarter end								$ 6,449

Equity - Class B Preferred Unit

Equity - Class B Preferred Units (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 15, 2018	Oct. 16, 2017	Dec. 31, 2017
Preferred Units
Preferred units issued, net of offering costs			$ 202,731
Preferred units, underwriting discounts and commissions			6,600
Preferred units, offering costs			$ 700
Preferred units, redemption terms			At any time on or after July 1, 2022, we may redeem our Class B Preferred Units, in whole or in part, at a redemption price of $25.00 per Class B Preferred Unit plus an amount equal to all accumulated and unpaid distributions to, but not including, the date of redemption, whether or not declared. We may also redeem the Class B Preferred Units upon a change of control as defined in our partnership agreement. If we choose not to redeem the Class B Preferred Units, the Class B preferred unitholders may have the ability to convert the Class B Preferred Units to common units at the then applicable conversion rate. Class B preferred unitholders have no voting rights except with respect to certain matters set forth in our partnership agreement.
Preferred units, dividend payment terms			Distributions on the Class B Preferred Units are payable on the 15th day of each January, April, July and October of each year to holders of record on the first day of each payment month. The initial distribution rate for the Class B Preferred Units from and including the date of original issue to, but not including, July 1, 2022 is 9.00% per year of the $25.00 liquidation preference per unit (equal to $2.25 per unit per year). On and after July 1, 2022, distributions on the Class B Preferred Units will accumulate at a percentage of the $25.00 liquidation preference equal to the applicable three-month LIBOR plus a spread of 7.213%.
Class B Perpetual Preferred Units
Preferred Units
Preferred units dividend rate			9.00%
Preferred unit par or stated value per unit			$ 25
Paid and unpaid dividends		$ 5,700
Class B Perpetual Preferred Units
Preferred Units
Preferred units issued, net of offering costs			$ 202,731
Class B Perpetual Preferred Units | Class B Perpetual Preferred Units
Preferred Units
Preferred units, issued (in units)			8,400,000
Subsequent Event | Class B Perpetual Preferred Units
Preferred Units
Paid and unpaid dividends	$ 4,700

Equity - At-The-Market ("ATM")

Equity - At-The-Market ("ATM") Offering (Details) - USD ($)	Aug. 24, 2016	Dec. 31, 2017
Equity [Abstract]
Aggregate offering price	$ 200,000,000
Aggregate offering price remaining for sale		$ 134,700,000

Equity - Equity-Based Incentive

Equity - Equity-Based Incentive Compensation - Award Activity (Details) - USD ($)	9 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Equity-Based Incentive Compensation
Accrued bonuses		$ 5,500,000
Cumulative effect adjustment	$ 0
Award activity
Common units canceled during period (in units)	41,650
Value of common units canceled during period	$ 600,000
Service awards
Award activity
Unvested restricted units at the beginning of the period (in units)	2,708,500
Units granted (in units)	1,036,202
Units vested and issued (in units)	(1,855,102)
Units forfeited (in units)	(90,000)
Unvested restricted units at the end of the period (in units)	1,799,600
Restricted units
Equity-Based Incentive Compensation
Distributions on restricted units during the vesting period	$ 0
Performance awards
Award activity
Unvested restricted units at the beginning of the period (in units)	1,189,000
Units forfeited (in units)	(426,000)
Unvested restricted units at the end of the period (in units)	763,000

Equity - Equity-Based Incenti72

Equity - Equity-Based Incentive Compensation - Service Awards Vesting Schedule (Details) - Service awards	9 Months Ended
	Dec. 31, 2017shares
Equity-Based Incentive Compensation
Units vested and issued (in units)	1,855,102
Unvested restricted units at the beginning of the period (in units)	2,708,500
2018 (three months)
Equity-Based Incentive Compensation
Units vested and issued (in units)	315,500
2,019
Equity-Based Incentive Compensation
Units vested and issued (in units)	896,750
2,020
Equity-Based Incentive Compensation
Units vested and issued (in units)	584,600
2,021
Equity-Based Incentive Compensation
Units vested and issued (in units)	2,750

Equity - Equity-Based Incenti73

Equity - Equity-Based Incentive Compensation - Service Awards Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017
Equity-Based Incentive Compensation
Units granted (in units)					964,702
Accrued bonuses					$ 5,500
Service awards
Equity-Based Incentive Compensation
Expense recorded	$ 3,100	$ 4,800	$ 11,700	$ 51,500
Deferred compensation arrangement with individual, fair value of units issued			12,400
Estimated future equity-based compensation expense
2018 (three months)			3,586
2,019			8,909
2,020			3,175
2,021			18
Total			$ 15,688

Equity - Equity-Based Incenti74

Equity - Equity-Based Incentive Compensation - Performance Awards (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Performance awards
Equity-Based Incentive Compensation
Expense recorded	$ 1,100	$ 2,100	$ 4,500	$ 5,200
Estimated future equity-based compensation expense
2018 (three months)			1,266
2,019			3,078
2,020			624
Total			$ 4,968
Restricted units
Estimated future equity-based compensation expense
Number of shares available for grant	2,400,000		2,400,000
Vesting On July 1, 2017 | Performance awards
Equity-Based Incentive Compensation
Units vested and issued (in units)			0

Fair Value of Financial Instr75

Fair Value of Financial Instruments - Fair Value of Commodity Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Derivative assets (liabilities)
Net commodity derivative (liability) asset	$ (3,016)	$ 10,976
Prepaid expenses and other current assets
Derivative assets (liabilities)
Net commodity derivative (liability) asset	33,400
Accrued expenses and other payables
Derivative assets (liabilities)
Net commodity derivative (liability) asset	31,700
Commodity contracts
Assets:
Derivative assets	43,626	41,319
Netting of counterparty contracts, assets	(8,470)	(1,508)
Net cash collateral (held) provided	(791)	(1,035)
Commodity derivatives	34,365	38,776
Liabilities:
Derivative liabilities	(79,084)	(48,912)
Netting of counterparty contracts, liabilities	8,470	1,508
Net cash collateral (held) provided	33,233	19,604
Commodity derivatives	(37,381)	(27,800)
Derivative assets (liabilities)
Net commodity derivative (liability) asset	(3,016)	10,976
Commodity contracts | Prepaid expenses and other current assets
Derivative assets (liabilities)
Net commodity derivative (liability) asset	34,283	38,711
Commodity contracts | Other noncurrent assets
Derivative assets (liabilities)
Net commodity derivative (liability) asset	82	65
Commodity contracts | Accrued expenses and other payables
Derivative assets (liabilities)
Net commodity derivative (liability) asset	(34,713)	(27,622)
Commodity contracts | Other noncurrent liabilities
Derivative assets (liabilities)
Net commodity derivative (liability) asset	(2,668)	(178)
Level 1 | Commodity contracts
Assets:
Derivative assets	9,981	2,590
Liabilities:
Derivative liabilities	(41,702)	(21,113)
Level 2 | Commodity contracts
Assets:
Derivative assets	33,645	38,729
Liabilities:
Derivative liabilities	$ (37,382)	$ (27,799)

Fair Value of Financial Instr76

Fair Value of Financial Instruments - Derivative Contract Positions (Details) bbl in Thousands, $ in Thousands	Dec. 31, 2017USD ($)bbl	Mar. 31, 2017USD ($)bbl
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ (35,458)	$ (7,593)
Net cash collateral provided (held)	32,442	18,569
Net commodity derivative (liability) asset	(3,016)	10,976
Cross-commodity
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ (1,587)
Cross-commodity | Short
Derivative contract information
Total Notional Units (Barrels) | bbl	21
Crude oil fixed-price
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ (7,536)	$ (55)
Crude oil fixed-price | Short
Derivative contract information
Total Notional Units (Barrels) | bbl	1,243	800
Propane fixed-price
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ 1,942	$ 1,082
Propane fixed-price | Long
Derivative contract information
Total Notional Units (Barrels) | bbl	210	220
Refined products fixed-price
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ (29,363)	$ (7,729)
Refined products fixed-price | Short
Derivative contract information
Total Notional Units (Barrels) | bbl	4,743	4,682
Refined products index
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ (51)	$ (103)
Refined products index | Short
Derivative contract information
Total Notional Units (Barrels) | bbl	13	18
Other
Derivative contract information
Fair Value of Net Assets (Liabilities)	$ 1,137	$ (788)

Fair Value of Financial Instr77

Fair Value of Financial Instruments - Gains (Losses) From Commodity Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Net adjustments to fair value of commodity derivatives	$ (64,900)	$ (57,700)	$ (99,814)	$ (102,638)

Fair Value of Financial Instr78

Fair Value of Financial Instruments - Interest Rate Risk (Details) - Revolving Credit Facility $ in Billions	Dec. 31, 2017USD ($)
Interest Rate Risk
Outstanding debt	$ 1.1
Interest rate	4.90%

Fair Value of Financial Instr79

Fair Value of Financial Instruments - Fair Value of Fixed-Rate Notes (Details) $ in Thousands	Dec. 31, 2017USD ($)
5.125% Senior Notes due 2019
Fair Value of Fixed - Rate Notes
Fair value of fixed-rate notes	$ 367,997
Fixed interest rate	5.125%
6.875% Senior Notes due 2021
Fair Value of Fixed - Rate Notes
Fair value of fixed-rate notes	$ 374,045
Fixed interest rate	6.875%
7.50% Senior Notes due 2023
Fair Value of Fixed - Rate Notes
Fair value of fixed-rate notes	$ 681,621
Fixed interest rate	7.50%
6.125% Senior Notes due 2025
Fair Value of Fixed - Rate Notes
Fair value of fixed-rate notes	$ 405,804
Fixed interest rate	6.125%

Segments (Details)

Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017
Segment information
Revenues	$ 4,463,263	$ 3,406,641	$ 12,168,158	$ 9,174,149
Other	289	164	696	679
Depreciation and amortization	63,340	60,767	192,427	160,276
Operating Income (Loss)	124,531	22,557	(19,238)	180,629
Additions to property, plant and equipment and intangible assets	53,684	78,395	136,949	387,437
Long-lived assets, net	4,086,955		4,086,955		$ 4,405,945
Total assets	6,316,386		6,316,386		6,320,379
Operating segment | Crude oil logistics
Segment information
Revenues	585,007	385,906	1,526,944	1,161,742
Depreciation and amortization	20,092	16,503	61,885	34,496
Operating Income (Loss)	106,279	(9,163)	111,832	(28,827)
Additions to property, plant and equipment and intangible assets	14,788	42,758	26,509	147,460
Long-lived assets, net	1,661,020		1,661,020		1,724,805
Total assets	2,269,632		2,269,632		2,538,768
Operating segment | Crude oil logistics | Crude oil sales
Segment information
Revenues	556,001	366,569	1,446,560	1,123,169
Operating segment | Crude oil logistics | Crude oil transportation and other
Segment information
Revenues	33,017	20,914	89,318	43,020
Operating segment | Water solutions
Segment information
Revenues	64,024	40,359	162,023	115,845
Depreciation and amortization	24,586	27,150	73,847	76,713
Operating Income (Loss)	(1,373)	(11,898)	(10,075)	63,136
Additions to property, plant and equipment and intangible assets	22,556	18,275	56,996	86,628
Long-lived assets, net	1,239,578		1,239,578		1,261,944
Total assets	1,303,873		1,303,873		1,301,415
Operating segment | Water solutions | Service fees
Segment information
Revenues	41,045	28,268	109,648	82,493
Operating segment | Water solutions | Recovered hydrocarbons
Segment information
Revenues	17,021	6,387	37,427	19,264
Operating segment | Water solutions | Other revenues
Segment information
Revenues	5,958	5,704	14,948	14,088
Operating segment | Liquids
Segment information
Revenues	709,044	470,275	1,379,981	909,584
Depreciation and amortization	6,247	4,441	18,718	13,315
Operating Income (Loss)	22,290	24,765	(104,589)	33,092
Additions to property, plant and equipment and intangible assets	1,188	1,736	2,868	14,897
Long-lived assets, net	485,454		485,454		619,204
Total assets	901,904		901,904		767,597
Operating segment | Liquids | Other revenues
Segment information
Revenues	6,166	7,704	16,106	22,926
Operating segment | Liquids | Propane sales
Segment information
Revenues	403,236	260,562	733,684	458,646
Operating segment | Liquids | Butane sales
Segment information
Revenues	228,535	146,514	408,312	267,769
Operating segment | Liquids | Other product sales
Segment information
Revenues	123,677	89,225	310,389	217,405
Operating segment | Retail propane
Segment information
Revenues	160,025	128,654	291,797	240,131
Depreciation and amortization	11,130	11,379	34,205	31,771
Operating Income (Loss)	23,972	21,772	8,878	10,553
Additions to property, plant and equipment and intangible assets	14,527	16,196	49,242	94,170
Long-lived assets, net	457,031		457,031		547,960
Total assets	660,850		660,850		622,859
Operating segment | Retail propane | Other revenues
Segment information
Revenues	12,797	12,418	31,733	30,056
Operating segment | Retail propane | Propane sales
Segment information
Revenues	124,466	96,699	221,102	174,510
Operating segment | Retail propane | Distillate sales
Segment information
Revenues	22,806	19,569	39,037	35,613
Operating segment | Refined products and renewables
Segment information
Revenues	2,944,874	2,381,283	8,806,717	6,746,168
Depreciation and amortization	323	404	971	1,237
Operating Income (Loss)	(4,791)	8,209	30,747	169,365
Additions to property, plant and equipment and intangible assets	0	(945)	0	42,175
Long-lived assets, net	210,534		210,534		215,637
Total assets	1,087,499		1,087,499		988,073
Operating segment | Refined products and renewables | Service fees
Segment information
Revenues	94	50	262	11,195
Operating segment | Refined products and renewables | Refined products sales
Segment information
Revenues	2,845,482	2,258,317	8,493,357	6,409,889
Operating segment | Refined products and renewables | Renewables sales
Segment information
Revenues	99,436	123,065	313,366	325,377
Corporate, non-segment
Segment information
Depreciation and amortization	962	890	2,801	2,744
Operating Income (Loss)	(21,846)	(11,128)	(56,031)	(66,690)
Additions to property, plant and equipment and intangible assets	625	375	1,334	2,107
Long-lived assets, net	33,338		33,338		36,395
Total assets	92,628		92,628		$ 101,667
Elimination of intersegment sales | Crude oil logistics
Segment information
Revenues	(4,011)	(1,577)	(8,934)	(4,447)
Elimination of intersegment sales | Liquids
Segment information
Revenues	(52,570)	(33,730)	(88,510)	(57,162)
Elimination of intersegment sales | Retail propane
Segment information
Revenues	(44)	(32)	(75)	(48)
Elimination of intersegment sales | Refined products and renewables
Segment information
Revenues	$ (138)	$ (149)	$ (268)	$ (293)

Transactions with Affiliates (D

Transactions with Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2017	Mar. 31, 2017
Transactions with Affiliates
Accounts receivable-affiliates	$ 3,517		$ 3,517			$ 6,711
Accounts payable-affiliates	474		474			7,918
Equity in earnings of unconsolidated entities	3,426	$ 1,279	7,270	$ 1,726
Cash paid			6,400
Payments to acquire productive assets			99,384	264,580
Distributions of earnings from unconsolidated entities			4,891	2,094
SemGroup
Transactions with Affiliates
Sales to related party	178	150	408	3,734
Purchases from related party	1,050	1,911	3,978	5,874
Accounts receivable-affiliates	83		83			6,668
Accounts payable-affiliates	390		390			6,571
NGL Energy Holdings LLC
Transactions with Affiliates
Accounts receivable-affiliates	3,413		3,413			0
Equity method investees
Transactions with Affiliates
Sales to related party	98	95	294	595
Purchases from related party	18,373	33,538	66,842	91,530
Accounts receivable-affiliates	2		2			15
Accounts payable-affiliates	81		81			1,306
Equity method investees | Loan Agreement
Transactions with Affiliates
Loan receivable from Victory Propane, LLC	300		300		$ 4,200	3,200
Equity in earnings of unconsolidated entities			$ 200
Loan agreement successive extension period			1 year
Entities affiliated with management
Transactions with Affiliates
Increase in property, plant and equipment			$ 800
Sales to related party	64	53	204	205
Purchases from related party	193	$ 2,580	1,540	$ 14,316
Accounts receivable-affiliates	19		19			28
Accounts payable-affiliates	3		3			$ 41
Victory Propane, LLC
Transactions with Affiliates
Payments to acquire productive assets			6,424
Property, plant and equipment | Victory Propane, LLC
Transactions with Affiliates
Payments to acquire productive assets			1,366
Customer relationships | Victory Propane, LLC
Transactions with Affiliates
Payments to acquire productive assets			4,782
Prepaid expenses and other current assets | Victory Propane, LLC
Transactions with Affiliates
Payments to acquire productive assets			$ 276
Victory Propane, LLC
Transactions with Affiliates
Distributions of earnings from unconsolidated entities	$ 2,000

Assets and Liabilities Held f82

Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	Nov. 07, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income before income taxes		$ 57,133	$ 2,407	$ (179,583)	$ 119,424
Expected proceeds from sale of disposal group	$ 200,000
Deposit received	$ 20,000			20,000	$ 0
Cash and cash equivalents		1,985		1,985
Accounts receivable-trade, net		13,336		13,336
Accounts receivable-affiliates		1		1
Inventories		6,273		6,273
Prepaid expenses and other current assets		2,437		2,437
Property, plant and equipment, net		61,137		61,137
Goodwill		24,959		24,959
Intangible assets, net		21,463		21,463
Total assets held for sale		131,591		131,591		$ 0
Accounts payable-trade		686		686
Accrued expenses and other payables		2,565		2,565
Advance payments received from customers		13,163		13,163
Other liabilities		160		160
Total liabilities held for sale		$ 16,574		16,574		$ 0
Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income before income taxes				$ 3,400

Unaudited Condensed Consolida83

Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information - Unaudited Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 28,469	$ 12,264	$ 28,927	$ 28,176
Accounts receivable-trade, net of allowance for doubtful accounts	1,063,907	800,607
Accounts receivable-affiliates	3,517	6,711
Inventories	645,100	561,432
Prepaid expenses and other current assets	97,395	103,193
Assets held for sale	131,591	0
Total current assets	1,969,979	1,484,207
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	1,708,683	1,790,273
GOODWILL	1,313,317	1,451,716
INTANGIBLE ASSETS, net of accumulated amortization	1,064,955	1,163,956
INVESTMENTS IN UNCONSOLIDATED ENTITIES	16,369	187,423
LOAN RECEIVABLE-AFFILIATE	318	3,200
OTHER NONCURRENT ASSETS	242,765	239,604
Total assets	6,316,386	6,320,379
CURRENT LIABILITIES:
Accounts payable-trade	866,768	658,021
Accounts payable-affiliates	474	7,918
Accrued expenses and other payables	230,752	207,125
Advance payments received from customers	46,850	35,944
Current maturities of long-term debt	3,260	29,590
Liabilities held for sale	16,574	0
Total current liabilities	1,164,678	938,598
LONG-TERM DEBT, net of debt issuance costs and current maturities	2,921,966	2,963,483
OTHER NONCURRENT LIABILITIES	168,281	184,534
CLASS A 10.75% CONVERTIBLE PREFERRED UNITS	76,056	63,890
REDEEMABLE NONCONTROLLING INTEREST	4,011	3,072
EQUITY:
Partners’ equity	1,975,602	2,141,884
Accumulated other comprehensive income (loss)	(1,478)	(1,828)
Noncontrolling interests	7,270	26,746
Total equity	1,981,394	2,166,802
Total liabilities and equity	6,316,386	6,320,379
Reportable Entity | NGL Energy Partners LP (Parent)
CURRENT ASSETS:
Cash and cash equivalents	14,994	6,257	23,811	25,749
Total current assets	14,994	6,257
NET INTERCOMPANY RECEIVABLES (PAYABLES)	2,116,433	2,424,730
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	1,727,675	1,978,158
Total assets	3,859,102	4,409,145
CURRENT LIABILITIES:
Accounts payable-affiliates	1	1
Accrued expenses and other payables	34,879	42,150
Current maturities of long-term debt	0	25,000
Total current liabilities	34,880	67,151
LONG-TERM DEBT, net of debt issuance costs and current maturities	1,774,042	2,138,048
CLASS A 10.75% CONVERTIBLE PREFERRED UNITS	76,056	63,890
EQUITY:
Partners’ equity	1,974,124	2,140,056
Total equity	1,974,124	2,140,056
Total liabilities and equity	3,859,102	4,409,145
Reportable Entity | Guarantor Subsidiaries
CURRENT ASSETS:
Cash and cash equivalents	11,179	2,903	3,058	784
Accounts receivable-trade, net of allowance for doubtful accounts	1,060,207	795,479
Accounts receivable-affiliates	3,517	6,711
Inventories	644,154	560,769
Prepaid expenses and other current assets	97,058	102,703
Assets held for sale	131,742
Total current assets	1,947,857	1,468,565
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	1,676,248	1,725,383
GOODWILL	1,300,560	1,437,759
INTANGIBLE ASSETS, net of accumulated amortization	1,051,683	1,149,524
INVESTMENTS IN UNCONSOLIDATED ENTITIES	16,369	187,423
NET INTERCOMPANY RECEIVABLES (PAYABLES)	(2,095,213)	(2,408,189)
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	24,623	47,598
LOAN RECEIVABLE-AFFILIATE	318	3,200
OTHER NONCURRENT ASSETS	242,765	239,436
Total assets	4,165,210	3,850,699
CURRENT LIABILITIES:
Accounts payable-trade	865,117	657,077
Accounts payable-affiliates	473	7,907
Accrued expenses and other payables	194,937	164,012
Advance payments received from customers	46,326	35,107
Current maturities of long-term debt	2,887	4,211
Liabilities held for sale	16,574
Total current liabilities	1,126,314	868,314
LONG-TERM DEBT, net of debt issuance costs and current maturities	1,147,180	824,370
OTHER NONCURRENT LIABILITIES	164,041	179,857
EQUITY:
Partners’ equity	1,728,919	1,979,785
Accumulated other comprehensive income (loss)	(1,244)	(1,627)
Total equity	1,727,675	1,978,158
Total liabilities and equity	4,165,210	3,850,699
Reportable Entity | Non-Guarantor Subsidiaries
CURRENT ASSETS:
Cash and cash equivalents	2,296	3,104	$ 2,058	$ 1,643
Accounts receivable-trade, net of allowance for doubtful accounts	3,700	5,128
Accounts receivable-affiliates	0	0
Inventories	946	663
Prepaid expenses and other current assets	337	490
Total current assets	7,279	9,385
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	32,435	64,890
GOODWILL	12,757	13,957
INTANGIBLE ASSETS, net of accumulated amortization	13,272	14,432
INVESTMENTS IN UNCONSOLIDATED ENTITIES	0	0
NET INTERCOMPANY RECEIVABLES (PAYABLES)	(21,220)	(16,541)
OTHER NONCURRENT ASSETS	0	168
Total assets	44,523	86,291
CURRENT LIABILITIES:
Accounts payable-trade	1,651	944
Accounts payable-affiliates	0	10
Accrued expenses and other payables	936	963
Advance payments received from customers	675	837
Current maturities of long-term debt	373	379
Total current liabilities	3,635	3,133
LONG-TERM DEBT, net of debt issuance costs and current maturities	744	1,065
OTHER NONCURRENT LIABILITIES	4,240	4,677
REDEEMABLE NONCONTROLLING INTEREST	4,011	3,072
EQUITY:
Partners’ equity	32,127	74,545
Accumulated other comprehensive income (loss)	(234)	(201)
Total equity	31,893	74,344
Total liabilities and equity	44,523	86,291
Consolidating Adjustments
CURRENT ASSETS:
Assets held for sale	(151)
Total current assets	(151)
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	(1,752,298)	(2,025,756)
Total assets	(1,752,449)	(2,025,756)
CURRENT LIABILITIES:
Advance payments received from customers	(151)
Total current liabilities	(151)
EQUITY:
Partners’ equity	(1,759,568)	(2,052,502)
Noncontrolling interests	7,270	26,746
Total equity	(1,752,298)	(2,025,756)
Total liabilities and equity	$ (1,752,449)	$ (2,025,756)

Unaudited Condensed Consolida84

Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information - Unaudited Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Unaudited Condensed Consolidating Statement of Operations
REVENUES	$ 4,463,263	$ 3,406,641	$ 12,168,158	$ 9,174,149
COST OF SALES	4,272,808	3,228,022	11,685,637	8,723,192
OPERATING COSTS AND EXPENSES:
Operating	84,846	76,981	237,285	225,408
General and administrative	29,218	18,280	77,689	88,077
Depreciation and amortization	63,340	60,767	192,427	160,276
(Gain) loss on disposal or impairment of assets, net	(111,480)	34	(11,242)	(203,433)
Revaluation of liabilities	0	0	5,600	0
Operating Income (Loss)	124,531	22,557	(19,238)	180,629
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated entities	3,426	1,279	7,270	1,726
Revaluation of investments	0	0	0	(14,365)
Interest expense	(51,790)	(41,436)	(151,249)	(105,316)
(Loss) gain on early extinguishment of liabilities, net	(21,141)	0	(22,479)	30,890
Other income, net	2,107	20,007	6,113	25,860
Income (Loss) Before Income Taxes	57,133	2,407	(179,583)	119,424
INCOME TAX EXPENSE	(364)	(1,114)	(934)	(2,036)
Net Income (Loss)	56,769	1,293	(180,517)	117,388
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(89)	(317)	(221)	(6,091)
LESS: NET (INCOME) LOSS ATTRIBUTABLE TO REDEEMABLE NONCONTROLLING INTERESTS	(424)	0	261	0
LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS	(16,219)	(8,906)	(42,001)	(20,958)
LESS: NET (INCOME) LOSS ALLOCATED TO GENERAL PARTNER	(73)	(22)	121	(180)
LESS: REPURCHASE OF WARRANTS	0	0	(349)	0
NET INCOME (LOSS) ALLOCATED TO COMMON UNITHOLDERS	39,964	(7,952)	(222,706)	90,159
Reportable Entity | NGL Energy Partners LP (Parent)
OTHER INCOME (EXPENSE):
Interest expense	(36,019)	(26,217)	(111,609)	(58,907)
(Loss) gain on early extinguishment of liabilities, net	(21,141)		(22,479)	8,614
Income (Loss) Before Income Taxes	(57,160)	(26,217)	(134,088)	(50,293)
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	113,416	27,193	(46,389)	161,590
Net Income (Loss)	56,256	976	(180,477)	111,297
NET INCOME (LOSS) ALLOCATED TO COMMON UNITHOLDERS	56,256	976	(180,477)	111,297
Reportable Entity | Guarantor Subsidiaries
Unaudited Condensed Consolidating Statement of Operations
REVENUES	4,454,133	3,393,541	12,150,896	9,142,575
COST OF SALES	4,269,586	3,226,175	11,679,386	8,720,039
OPERATING COSTS AND EXPENSES:
Operating	82,468	72,911	231,376	212,542
General and administrative	29,033	18,090	77,190	87,402
Depreciation and amortization	61,961	58,091	188,893	152,140
(Gain) loss on disposal or impairment of assets, net	(111,509)	37	(12,436)	(203,406)
Revaluation of liabilities			5,600
Operating Income (Loss)	122,594	18,237	(19,113)	173,858
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated entities	3,426	1,279	7,270	1,726
Revaluation of investments				(14,365)
Interest expense	(15,752)	(15,340)	(39,576)	(46,238)
(Loss) gain on early extinguishment of liabilities, net				22,276
Other income, net	2,298	20,206	6,656	26,196
Income (Loss) Before Income Taxes	112,566	24,382	(44,763)	163,453
INCOME TAX EXPENSE	(364)	(1,114)	(934)	(2,036)
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	1,214	3,925	(692)	173
Net Income (Loss)	113,416	27,193	(46,389)	161,590
NET INCOME (LOSS) ALLOCATED TO COMMON UNITHOLDERS	113,416	27,193	(46,389)	161,590
Reportable Entity | Non-Guarantor Subsidiaries
Unaudited Condensed Consolidating Statement of Operations
REVENUES	10,818	14,249	20,261	33,718
COST OF SALES	4,910	2,996	9,250	5,297
OPERATING COSTS AND EXPENSES:
Operating	2,378	4,070	5,909	12,866
General and administrative	185	190	499	675
Depreciation and amortization	1,379	2,676	3,534	8,136
(Gain) loss on disposal or impairment of assets, net	29	(3)	1,194	(27)
Operating Income (Loss)	1,937	4,320	(125)	6,771
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated entities	0	0	0	0
Interest expense	(228)	(98)	(681)	(551)
Other income, net	18	20	74	44
Income (Loss) Before Income Taxes	1,727	4,242	(732)	6,264
INCOME TAX EXPENSE	0	0	0	0
Net Income (Loss)	1,727	4,242	(732)	6,264
NET INCOME (LOSS) ALLOCATED TO COMMON UNITHOLDERS	1,727	4,242	(732)	6,264
Consolidating Adjustments
Unaudited Condensed Consolidating Statement of Operations
REVENUES	(1,688)	(1,149)	(2,999)	(2,144)
COST OF SALES	(1,688)	(1,149)	(2,999)	(2,144)
OPERATING COSTS AND EXPENSES:
Operating	0		0
OTHER INCOME (EXPENSE):
Interest expense	209	219	617	380
Other income, net	(209)	(219)	(617)	(380)
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	(114,630)	(31,118)	47,081	(161,763)
Net Income (Loss)	(114,630)	(31,118)	47,081	(161,763)
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(89)	(317)	(221)	(6,091)
LESS: NET (INCOME) LOSS ATTRIBUTABLE TO REDEEMABLE NONCONTROLLING INTERESTS	(424)		261
LESS: DISTRIBUTIONS TO PREFERRED UNITHOLDERS	(16,219)	(8,906)	(42,001)	(20,958)
LESS: NET (INCOME) LOSS ALLOCATED TO GENERAL PARTNER	(73)	(22)	121	(180)
LESS: REPURCHASE OF WARRANTS			(349)
NET INCOME (LOSS) ALLOCATED TO COMMON UNITHOLDERS	$ (131,435)	$ (40,363)	$ 4,892	$ (188,992)

Unaudited Condensed Consolida85

Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information - Unaudited Condensed Consolidating Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Unaudited Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	$ 56,769	$ 1,293	$ (180,517)	$ 117,388
Other comprehensive income	784	545	350	60
Comprehensive income (loss)	57,553	1,838	(180,167)	117,448
Reportable Entity | NGL Energy Partners LP (Parent)
Unaudited Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	56,256	976	(180,477)	111,297
Comprehensive income (loss)	56,256	976	(180,477)	111,297
Reportable Entity | Guarantor Subsidiaries
Unaudited Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	113,416	27,193	(46,389)	161,590
Other comprehensive income	795	568	383	93
Comprehensive income (loss)	114,211	27,761	(46,006)	161,683
Reportable Entity | Non-Guarantor Subsidiaries
Unaudited Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	1,727	4,242	(732)	6,264
Other comprehensive income	(11)	(23)	(33)	(33)
Comprehensive income (loss)	1,716	4,219	(765)	6,231
Consolidating Adjustments
Unaudited Condensed Consolidating Statement of Comprehensive Income (Loss)
Net income (loss)	(114,630)	(31,118)	47,081	(161,763)
Comprehensive income (loss)	$ (114,630)	$ (31,118)	$ 47,081	$ (161,763)

Unaudited Condensed Consolida86

Unaudited Condensed Consolidating Guarantor and Non-Guarantor Financial Information - Unaudited Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	Nov. 07, 2017	Jun. 23, 2017	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities			$ 4,061	$ (115,572)
INVESTING ACTIVITIES:
Capital expenditures			(99,384)	(264,580)
Acquisitions, net of cash acquired			(49,481)	(127,513)
Cash flows from settlements of commodity derivatives			(85,823)	(82,815)
Proceeds from sales of assets			33,673	14,195
Proceeds from sale of interest in Glass Mountain			292,117	0
Proceeds from sale of TLP common units			0	112,370
Proceeds from sale of Grassland			0	22,000
Transaction with an unconsolidated entity (Note 13)			(6,424)	0
Investments in unconsolidated entities			(21,461)	0
Distributions of capital from unconsolidated entities			11,710	7,608
Repayments on loan for natural gas liquids facility			7,425	6,585
Loan to affiliate			(1,460)	(2,700)
Repayments on loan to affiliate			4,160	655
Other (Note 14)	$ 20,000		20,000	0
Payment to terminate development agreement			0	(16,875)
Net cash provided by (used in) investing activities			105,052	(331,070)
FINANCING ACTIVITIES:
Proceeds from borrowings under Revolving Credit Facility			1,674,500	1,176,000
Payments on Revolving Credit Facility			(1,349,500)	(1,510,500)
Issuance of senior unsecured notes			0	700,000
Repayment and repurchase of senior secured and senior unsecured notes			(415,568)	(15,129)
Payments on other long-term debt			(4,361)	(6,549)
Debt issuance costs			(2,497)	(12,608)
Contributions from general partner			0	59
Contributions from noncontrolling interest owners, net			23	639
Distributions to general and common unit partners and preferred unitholders			(166,589)	(132,135)
Distributions to noncontrolling interest owners			(3,082)	(3,292)
Proceeds from sale of preferred units, net of offering costs			202,731	234,989
Proceeds from sale of common units, net of offering costs			0	43,896
Repurchase of warrants		$ (10,500)	(10,549)	0
Common unit repurchases and cancellations			(15,608)	0
Payments for settlement and early extinguishment of liabilities			(2,408)	(27,977)
Net cash (used in) provided by financing activities			(92,908)	447,393
Net increase in cash and cash equivalents			16,205	751
Cash and cash equivalents, beginning of period			12,264	28,176
Cash and cash equivalents, end of period			28,469	28,927
Reportable Entity | NGL Energy Partners LP (Parent)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities			415,012	(48,850)
FINANCING ACTIVITIES:
Issuance of senior unsecured notes				700,000
Repayment and repurchase of senior secured and senior unsecured notes			(415,568)	(15,129)
Debt issuance costs			(693)	(12,536)
Contributions from general partner				59
Contributions from noncontrolling interest owners, net				0
Distributions to general and common unit partners and preferred unitholders			(166,589)	(132,135)
Proceeds from sale of preferred units, net of offering costs			202,731	234,989
Proceeds from sale of common units, net of offering costs				43,896
Repurchase of warrants			(10,549)
Common unit repurchases and cancellations			(15,608)
Payments for settlement and early extinguishment of liabilities			0
Net changes in advances with consolidated entities			1	(772,232)
Net cash (used in) provided by financing activities			(406,275)	46,912
Net increase in cash and cash equivalents			8,737	(1,938)
Cash and cash equivalents, beginning of period			6,257	25,749
Cash and cash equivalents, end of period			14,994	23,811
Reportable Entity | Guarantor Subsidiaries
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities			(447,316)	(63,850)
INVESTING ACTIVITIES:
Capital expenditures			(97,971)	(257,734)
Acquisitions, net of cash acquired			(49,081)	(116,153)
Cash flows from settlements of commodity derivatives			(85,823)	(82,815)
Proceeds from sales of assets			33,673	14,136
Proceeds from sale of interest in Glass Mountain			292,117
Proceeds from sale of TLP common units				112,370
Transaction with an unconsolidated entity (Note 13)			(6,424)
Investments in unconsolidated entities			(21,461)
Distributions of capital from unconsolidated entities			11,710	7,608
Repayments on loan for natural gas liquids facility			7,425	6,585
Loan to affiliate			(1,460)	(2,700)
Repayments on loan to affiliate			4,160	655
Other (Note 14)			20,000
Payment to terminate development agreement				(16,875)
Net cash provided by (used in) investing activities			106,865	(334,923)
FINANCING ACTIVITIES:
Proceeds from borrowings under Revolving Credit Facility			1,674,500	1,176,000
Payments on Revolving Credit Facility			(1,349,500)	(1,510,500)
Payments on other long-term debt			(3,971)	(6,359)
Debt issuance costs			(1,804)	(72)
Contributions from general partner				0
Payments for settlement and early extinguishment of liabilities			(2,408)	(27,977)
Net changes in advances with consolidated entities			31,910	769,955
Net cash (used in) provided by financing activities			348,727	401,047
Net increase in cash and cash equivalents			8,276	2,274
Cash and cash equivalents, beginning of period			2,903	784
Cash and cash equivalents, end of period			11,179	3,058
Reportable Entity | Non-Guarantor Subsidiaries
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities			36,365	(2,872)
INVESTING ACTIVITIES:
Capital expenditures			(1,413)	(6,846)
Acquisitions, net of cash acquired			(400)	(11,360)
Proceeds from sales of assets			0	59
Proceeds from sale of Grassland				22,000
Net cash provided by (used in) investing activities			(1,813)	3,853
FINANCING ACTIVITIES:
Payments on other long-term debt			(390)	(190)
Contributions from noncontrolling interest owners, net			23	639
Distributions to noncontrolling interest owners			(3,082)	(3,292)
Net changes in advances with consolidated entities			(31,911)	2,277
Net cash (used in) provided by financing activities			(35,360)	(566)
Net increase in cash and cash equivalents			(808)	415
Cash and cash equivalents, beginning of period			3,104	1,643
Cash and cash equivalents, end of period			$ 2,296	$ 2,058