Document and Entity Information
Document and Entity Information | 3 Months Ended |
Mar. 31, 2017 | |
Document Information [Line Items] | |
Document Type | S-4/A |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2017 |
Trading Symbol | CMLP |
Entity Registrant Name | Crestwood Midstream Partners LP |
Entity Central Index Key | 1,304,464 |
Entity Filer Category | Non-accelerated Filer |
Crestwood Equity Partners LP | |
Document Information [Line Items] | |
Document Type | S-4/A |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2017 |
Entity Registrant Name | Crestwood Equity Partners LP |
Entity Central Index Key | 1,136,352 |
Entity Filer Category | Large Accelerated Filer |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | |||
Cash | $ 1 | $ 1.6 | $ 0.5 |
Accounts receivable, less allowance for doubtful accounts | 267.8 | 289.8 | 236.5 |
Inventory | 58.8 | 66 | 44.5 |
Assets from price risk management activities | 6.7 | 6.3 | 32.6 |
Prepaid expenses and other current assets | 5.7 | 9.7 | 21.7 |
Total current assets | 340 | 373.4 | 335.8 |
Property, plant and equipment | 2,572.4 | 2,555.4 | 3,747.7 |
Less: accumulated depreciation and depletion | 491.7 | 457.8 | 436.9 |
Property, plant and equipment, net | 2,080.7 | 2,097.6 | 3,310.8 |
Intangible assets | 898.6 | 898.6 | 975.8 |
Less: accumulated amortization | 254.7 | 241.2 | 206.6 |
Intangible assets, net | 643.9 | 657.4 | 769.2 |
Goodwill | 199 | 199 | 1,085.5 |
Investments in unconsolidated affiliates | 1,105.3 | 1,115.4 | 254.3 |
Other assets | 5.9 | 6.1 | 7.2 |
Total assets | 4,374.8 | 4,448.9 | 5,762.8 |
Current liabilities: | |||
Accounts payable | 193.7 | 217.2 | 144.1 |
Accrued expenses and other liabilities | 78.1 | 90.5 | 105.6 |
Liabilities from price risk management activities | 9.4 | 28.6 | 7.4 |
Current portion of long-term debt | 14.8 | 1 | 1.1 |
Total current liabilities | 296 | 337.3 | 258.2 |
Long-term debt, less current portion | 1,550.3 | 1,522.7 | 2,501.8 |
Other long-term liabilities | 46.5 | 44.6 | 47.5 |
Deferred income taxes | 4.7 | 5.3 | 8.4 |
Commitments and contingencies | |||
Partners' capital: | |||
Partners' capital | 1,700.2 | 1,782 | 2,227.6 |
Preferred units | 582.3 | 564.5 | 535.8 |
Total company partners' capital | 2,282.5 | 2,346.5 | 2,763.4 |
Interest of non-controlling partners in subsidiaries | 194.8 | 192.5 | 183.5 |
Total partners' capital | 2,477.3 | 2,539 | 2,946.9 |
Total liabilities and partners' capital | 4,374.8 | 4,448.9 | 5,762.8 |
Crestwood Midstream Partners LP | |||
Assets | |||
Cash | 0.6 | 1.3 | 0.1 |
Accounts receivable, less allowance for doubtful accounts | 267.8 | 289.8 | 236.5 |
Inventory | 58.8 | 66 | 44.5 |
Assets from price risk management activities | 6.7 | 6.3 | 32.6 |
Prepaid expenses and other current assets | 5.7 | 9.7 | 19.9 |
Total current assets | 339.6 | 373.1 | 333.6 |
Property, plant and equipment | 2,902.5 | 2,885.5 | 4,077.7 |
Less: accumulated depreciation and depletion | 624.5 | 587.1 | 552 |
Property, plant and equipment, net | 2,278 | 2,298.4 | 3,525.7 |
Intangible assets | 883.1 | 883.1 | 959.3 |
Less: accumulated amortization | 243 | 230.2 | 197.9 |
Intangible assets, net | 640.1 | 652.9 | 761.4 |
Goodwill | 199 | 199 | 1,085.5 |
Investments in unconsolidated affiliates | 1,105.3 | 1,115.4 | 254.3 |
Other assets | 2.1 | 1.8 | 3.1 |
Total assets | 4,564.1 | 4,640.6 | 5,963.6 |
Current liabilities: | |||
Accounts payable | 191 | 214.5 | 141.4 |
Accrued expenses and other liabilities | 75.2 | 87.9 | 103.3 |
Liabilities from price risk management activities | 9.4 | 28.6 | 7.4 |
Current portion of long-term debt | 14.8 | 1 | 0.9 |
Total current liabilities | 290.4 | 332 | 253 |
Long-term debt, less current portion | 1,550.3 | 1,522.7 | 2,501.8 |
Other long-term liabilities | 43.9 | 42 | 43.3 |
Deferred income taxes | 0.7 | 0.7 | 0.4 |
Partners' capital: | |||
Total company partners' capital | 2,484 | 2,550.7 | 2,981.6 |
Interest of non-controlling partners in subsidiaries | 194.8 | 192.5 | 183.5 |
Total partners' capital | 2,678.8 | 2,743.2 | 3,165.1 |
Total liabilities and partners' capital | $ 4,564.1 | $ 4,640.6 | $ 5,963.6 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Allowance for doubtful accounts | $ 1.4 | $ 1.9 | $ 0.4 |
Limited Partners' Capital Account, Units Issued | 70,142,803 | 69,499,741 | 68,555,305 |
Limited Partners' Capital Account, Units Outstanding | 70,142,803 | 69,499,741 | 68,555,305 |
Preferred units, issued | 68,072,226 | 66,533,415 | 60,718,245 |
Preferred Units, Outstanding | 68,072,226 | 66,533,415 | 60,718,245 |
Crestwood Midstream Partners LP | |||
Allowance for doubtful accounts | $ 1.4 | $ 1.9 | $ 0.4 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues: | |||||
Gathering and processing | $ 293.1 | $ 162.5 | $ 825.5 | $ 1,051.2 | $ 1,831.5 |
Marketing, supply and logistics | 430.2 | 206.5 | 1,144.3 | 857.5 | 1,339.4 |
Total product revenue | 723.3 | 369 | 1,969.8 | 1,908.7 | 3,170.9 |
Gathering and processing | 75 | 75.7 | 290.7 | 325.9 | 332.2 |
Storage and transportation | 10 | 59.4 | 165.3 | 266.3 | 264.6 |
Marketing, supply and logistics | 19.3 | 31.2 | 92.1 | 128 | 160.6 |
Related party | 0.5 | 0.7 | 2.6 | 3.9 | 3 |
Total services revenues | 104.8 | 167 | 550.7 | 724.1 | 760.4 |
Total revenues | 828.1 | 536 | 2,520.5 | 2,632.8 | 3,931.3 |
Costs of product/services sold (exclusive of items shown separately below): | |||||
Gathering and processing | 312.5 | 175.4 | 899.2 | 1,074.4 | 1,816.9 |
Marketing, supply and logistics | 354.2 | 166 | 952.7 | 705.6 | 1,196.1 |
Related party | 4.1 | 4.3 | 17.7 | 28.9 | 42.2 |
Total product costs | 670.8 | 345.7 | 1,869.6 | 1,808.9 | 3,055.2 |
Gathering and processing | 0 | 0.1 | 0.1 | 0.6 | 0.8 |
Storage and transportation | 0 | 2.9 | 5.1 | 20.1 | 33.3 |
Marketing, supply and logistics | 12.7 | 14.7 | 50.3 | 53.9 | 76 |
Total service costs | 12.7 | 17.7 | 55.5 | 74.6 | 110.1 |
Total costs of product/services sold | 683.5 | 363.4 | 1,925.1 | 1,883.5 | 3,165.3 |
Expenses: | |||||
Operations and maintenance | 33.7 | 41.8 | 158.1 | 190.2 | 203.3 |
General and administrative | 26.4 | 23 | 88.2 | 116.3 | 100.2 |
Depreciation, amortization and accretion | 48.4 | 62.3 | 229.6 | 300.1 | 285.3 |
Total expenses | 108.5 | 127.1 | 475.9 | 606.6 | 588.8 |
Loss on long-lived assets, net | (65.6) | (821.2) | (1.9) | ||
Goodwill impairment | 0 | (109.7) | (162.6) | (1,406.3) | (48.8) |
Loss on contingent consideration | 0 | 0 | (8.6) | ||
Operating income (loss) | 36.1 | (64.2) | (108.7) | (2,084.8) | 117.9 |
Earnings (loss) from unconsolidated affiliates, net | 8.1 | 6.5 | 31.5 | (60.8) | (0.7) |
Interest and debt expense, net | (26.5) | (36.1) | (125.1) | (140.1) | (127.1) |
Gain (loss) on modification/extinguishment of debt | (37.3) | 0 | 10 | (20) | 0 |
Other income, net | 0.1 | 0.1 | 0.5 | 0.6 | 0.6 |
Income (loss) before income taxes | (19.5) | (93.7) | (191.8) | (2,305.1) | (9.3) |
(Provision) benefit for income taxes | 0.1 | 0 | (0.3) | 1.4 | (1.1) |
Net income (loss) | (19.4) | (93.7) | (192.1) | (2,303.7) | (10.4) |
Net income (loss) attributable to non-controlling partners | 6.1 | 5.9 | 24.2 | (636.8) | (66.8) |
Net income (loss) attributable to parent | (25.5) | (99.6) | (216.3) | (1,666.9) | 56.4 |
Net income (loss) attributable to preferred unit holders | 17.8 | 1.6 | 28.7 | 6.2 | 0 |
Net income (loss) attributable to partners | (43.3) | (101.2) | (245) | (1,673.1) | 56.4 |
Subordinated unitholders' interest in net income | 0 | 0 | 0 | 0 | 1.3 |
Common unitholders' interest in net income (loss) | $ (43.3) | $ (101.2) | $ (245) | $ (1,673.1) | $ 55.1 |
Net income (loss) per limited partner unit: | |||||
Basic (in dollars per share) | $ (0.62) | $ (1.47) | $ (3.55) | $ (54) | $ 3.03 |
Diluted (in dollars per share) | $ (0.62) | $ (1.47) | $ (3.55) | $ (54) | $ 3.03 |
Weighted-average limited partners' units outstanding (in thousands): | |||||
Basic (units) | 69,697 | 68,912 | 69,017 | 30,983 | 18,201 |
Dilutive units (units) | 0 | 0 | 0 | 0 | 439 |
Diluted (units) | 69,697 | 68,912 | 69,017 | 30,983 | 18,640 |
Crestwood Midstream Partners LP | |||||
Revenues: | |||||
Gathering and processing | $ 293.1 | $ 162.5 | $ 825.5 | $ 1,051.2 | $ 1,831.5 |
Marketing, supply and logistics | 430.2 | 206.5 | 1,144.3 | 857.5 | 1,339.4 |
Total product revenue | 723.3 | 369 | 1,969.8 | 1,908.7 | 3,170.9 |
Gathering and processing | 75 | 75.7 | 290.7 | 325.9 | 332.2 |
Storage and transportation | 10 | 59.4 | 165.3 | 266.3 | 250.8 |
Marketing, supply and logistics | 19.3 | 31.2 | 92.1 | 128 | 160.6 |
Related party | 0.5 | 0.7 | 2.6 | 3.9 | 3 |
Total services revenues | 104.8 | 167 | 550.7 | 724.1 | 746.6 |
Total revenues | 828.1 | 536 | 2,520.5 | 2,632.8 | 3,917.5 |
Costs of product/services sold (exclusive of items shown separately below): | |||||
Gathering and processing | 312.5 | 175.4 | 899.2 | 1,074.4 | 1,816.9 |
Marketing, supply and logistics | 354.2 | 166 | 952.7 | 705.6 | 1,196.1 |
Related party | 4.1 | 4.3 | 17.7 | 28.9 | 42.2 |
Total product costs | 670.8 | 345.7 | 1,869.6 | 1,808.9 | 3,055.2 |
Gathering and processing | 0 | 0.1 | 0.1 | 0.6 | 0.8 |
Storage and transportation | 0 | 2.9 | 5.1 | 20.1 | 22.8 |
Marketing, supply and logistics | 12.7 | 14.7 | 50.3 | 53.9 | 76 |
Total service costs | 12.7 | 17.7 | 55.5 | 74.6 | 99.6 |
Total costs of product/services sold | 683.5 | 363.4 | 1,925.1 | 1,883.5 | 3,154.8 |
Expenses: | |||||
Operations and maintenance | 33.7 | 41.7 | 155 | 188.7 | 195.4 |
General and administrative | 25.5 | 22.2 | 85.6 | 105.6 | 91.7 |
Depreciation, amortization and accretion | 51.2 | 64.9 | 240.5 | 278.5 | 255.4 |
Total expenses | 110.4 | 128.8 | 481.1 | 572.8 | 542.5 |
Loss on long-lived assets, net | (65.6) | (227.8) | (35.1) | ||
Goodwill impairment | 0 | (109.7) | (162.6) | (1,149.1) | (48.8) |
Loss on contingent consideration | 0 | 0 | (8.6) | ||
Operating income (loss) | 34.2 | (65.9) | (113.9) | (1,200.4) | 127.7 |
Earnings (loss) from unconsolidated affiliates, net | 8.1 | 6.5 | 31.5 | (60.8) | (0.7) |
Interest and debt expense, net | (26.5) | (36.1) | (125.1) | (130.5) | (111.4) |
Gain (loss) on modification/extinguishment of debt | (37.3) | 0 | 10 | (18.9) | 0 |
Income (loss) before income taxes | (21.5) | (95.5) | (197.5) | (1,410.6) | 15.6 |
(Provision) benefit for income taxes | 0.1 | 0.2 | 0 | 0 | (0.9) |
Net income (loss) | (21.4) | (95.3) | (197.5) | (1,410.6) | 14.7 |
Net income (loss) attributable to non-controlling partners | 6.1 | 5.9 | 24.2 | 23.1 | 16.8 |
Net income (loss) attributable to parent | $ (27.5) | $ (101.2) | (221.7) | (1,433.7) | (2.1) |
Net income (loss) attributable to preferred unit holders | 0 | 23.1 | 17.2 | ||
Net income (loss) attributable to partners | $ (221.7) | $ (1,456.8) | $ (19.3) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||||
Net loss | $ (19.4) | $ (93.7) | $ (192.1) | $ (2,303.7) | $ (10.4) |
Change in fair value of Suburban Propane Partners, L.P. units | (0.4) | 0.8 | 0.8 | (2.7) | (0.5) |
Comprehensive loss | (19.8) | (92.9) | (191.3) | (2,306.4) | (10.9) |
Comprehensive income (loss) attributable to non-controlling partners | 6.1 | 5.9 | 24.2 | (636.8) | (66.8) |
Comprehensive income (loss) attributable to Crestwood Equity Partners LP | $ (25.9) | $ (98.8) | $ (215.5) | $ (1,669.6) | $ 55.9 |
Consolidated Statement of Partn
Consolidated Statement of Partners' Capital - USD ($) $ in Millions | Total | Crestwood Midstream Partners LP | Crestwood Marcellus Midstream LLC | Preferred Units | Preferred UnitsCrestwood Midstream Partners LP | Preferred UnitsCrestwood Marcellus Midstream LLC | Limited Partners | Limited PartnersCrestwood Midstream Partners LP | Limited PartnersCrestwood Marcellus Midstream LLC | Non-Controlling Partners | Non-Controlling PartnersCrestwood Midstream Partners LP | Non-Controlling PartnersCrestwood Marcellus Midstream LLC | Common Unit Capital | Common Unit CapitalCrestwood Midstream Partners LP | Partners' Capital | Partners' CapitalCrestwood Midstream Partners LP | Preferred Units, Class A | Preferred Units, Class APreferred Units | Preferred Units, Class ALimited Partners | Preferred Units, Class ANon-Controlling Partners | Subordinated Units | Common Units | Preferred Units | Preferred UnitsPreferred Units, Class A |
Common Unit, Outstanding at Dec. 31, 2013 | 400,000 | 18,100,000 | ||||||||||||||||||||||
Balance at Dec. 31, 2013 | $ 5,508.6 | $ 5,291.3 | $ 0 | $ 0 | $ 831.6 | $ 5,190.3 | $ 4,677 | $ 101 | ||||||||||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||||||||||||||||||||
Increase (Decrease) in Partners' Capital | (15.3) | $ (15.3) | 0 | $ 0 | (15.3) | $ (10.5) | 0 | $ (4.8) | ||||||||||||||||
Issuance of CMLP Class A preferred units | 430.5 | 430.5 | 430.5 | 0 | 0 | |||||||||||||||||||
Issuance of preferred equity of subsidiary | 53.9 | 53.9 | 0 | 0 | 0 | 0 | 53.9 | 53.9 | ||||||||||||||||
Partners' Capital Account, Units, Unit-based Compensation | 100,000 | |||||||||||||||||||||||
Proceeds from the issuance of common units | $ 430.5 | $ 0 | $ 0 | $ 430.5 | ||||||||||||||||||||
Distributions to partners | (399) | (470.5) | 0 | 0 | (102.5) | (470.5) | (296.5) | 0 | ||||||||||||||||
Unit-based compensation charges | 21.3 | 18.1 | 0 | 0 | 3.9 | 18.1 | 17.4 | 0 | ||||||||||||||||
Taxes paid for unit-based compensation vesting | (3.9) | (1.6) | 0 | 0 | (2.3) | (1.6) | (1.6) | 0 | ||||||||||||||||
Change in fair value of Suburban Propane Partners, L.P. units | (0.5) | 0 | (0.5) | 0 | ||||||||||||||||||||
Other | (0.7) | (0.7) | 0 | 0 | 0.1 | (0.7) | (0.8) | 0 | ||||||||||||||||
Net income (loss) | (10.4) | 14.7 | 0 | 17.2 | 56.4 | (19.3) | (66.8) | 16.8 | ||||||||||||||||
Common Unit, Outstanding at Dec. 31, 2014 | 400,000 | 18,200,000 | ||||||||||||||||||||||
Balance at Dec. 31, 2014 | 5,584.5 | 5,320.4 | 0 | 447.7 | 776.2 | 4,701 | 4,808.3 | 171.7 | ||||||||||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||||||||||||||||||||
Partners' Capital Account, Units, Acquisitions | 49,900,000 | 59,300,000 | ||||||||||||||||||||||
Issuance of CMLP Class A preferred units | 58.8 | 58.8 | 58.8 | 0 | 0 | |||||||||||||||||||
Issuance of preferred equity of subsidiary | $ 58.8 | $ 0 | $ 0 | $ 58.8 | ||||||||||||||||||||
Partners' Capital Account, Exchanges and Conversions | 0 | 0 | 529.6 | (529.6) | 3,294.8 | 529.6 | (3,824.4) | 0 | ||||||||||||||||
Partners' Capital Account, Units, Unit-based Compensation | 100,000 | |||||||||||||||||||||||
Distributions to partners | (405.7) | (819.5) | 0 | 0 | (171.5) | (808.2) | (234.2) | (11.3) | ||||||||||||||||
Unit-based compensation charges | 19.7 | 18.1 | 0 | 0 | 5.7 | 18.1 | 14 | 0 | ||||||||||||||||
Taxes paid for unit-based compensation vesting | (3.7) | (2.1) | 0 | 0 | (1.6) | (2.1) | (2.1) | 0 | ||||||||||||||||
Change in fair value of Suburban Propane Partners, L.P. units | (2.7) | 0 | (2.7) | 0 | ||||||||||||||||||||
Other | (0.3) | 0 | (0.2) | (0.1) | ||||||||||||||||||||
Net income (loss) | (2,303.7) | (1,410.6) | 6.2 | 23.1 | (1,673.1) | (1,456.8) | (636.8) | 23.1 | ||||||||||||||||
Common Unit, Outstanding at Dec. 31, 2015 | 400,000 | 68,200,000 | ||||||||||||||||||||||
Balance at Dec. 31, 2015 | $ 2,946.9 | 3,165.1 | 535.8 | 0 | 2,227.6 | 2,981.6 | 183.5 | 183.5 | ||||||||||||||||
Preferred units, outstanding at Dec. 31, 2015 | 60,718,245 | 60,700,000 | ||||||||||||||||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||||||||||||||||||||
Preferred units, issued | 60,718,245 | 1,400,000 | ||||||||||||||||||||||
Preferred Stock Dividends, Shares | 5,800,000 | |||||||||||||||||||||||
Issuance of CMLP Class A preferred units | $ 0 | 0 | ||||||||||||||||||||||
Partners' Capital Account, Units, Unit-based Compensation | 900,000 | |||||||||||||||||||||||
Distributions to partners | (235) | (242.8) | 0 | 0 | (219.8) | (227.6) | (15.2) | (15.2) | ||||||||||||||||
Unit-based compensation charges | 19.2 | 19.2 | 0 | 0 | 19.2 | 19.2 | 0 | 0 | ||||||||||||||||
Taxes paid for unit-based compensation vesting | (0.8) | (0.8) | 0 | 0 | (0.8) | (0.8) | 0 | 0 | ||||||||||||||||
Change in fair value of Suburban Propane Partners, L.P. units | 0.8 | 0 | 0.8 | 0 | ||||||||||||||||||||
Net income (loss) | (192.1) | (197.5) | 28.7 | 0 | (245) | (221.7) | 24.2 | 24.2 | ||||||||||||||||
Common Unit, Outstanding at Dec. 31, 2016 | 400,000 | 69,100,000 | ||||||||||||||||||||||
Balance at Dec. 31, 2016 | $ 2,539 | 2,743.2 | 564.5 | $ 0 | $ 1,782 | $ 2,550.7 | 192.5 | 192.5 | $ 1,782 | $ 2,550.7 | $ 2,539 | $ 2,743.2 | ||||||||||||
Preferred units, outstanding at Dec. 31, 2016 | 66,533,415 | 66,500,000 | ||||||||||||||||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||||||||||||||||||||
Preferred units, issued | 66,533,415 | |||||||||||||||||||||||
Preferred Stock Dividends, Shares | 1,538,811 | 1,600,000 | ||||||||||||||||||||||
Partners' Capital Account, Units, Unit-based Compensation | 700,000 | |||||||||||||||||||||||
Shares Paid for Tax Withholding for Share Based Compensation | (100,000) | |||||||||||||||||||||||
Distributions to partners | 0 | (3.8) | (3.8) | (41.8) | (43.1) | (45.6) | (46.9) | |||||||||||||||||
Unit-based compensation charges | 0 | 0 | 0 | 7.3 | 7.3 | 7.3 | 7.3 | |||||||||||||||||
Taxes paid for unit-based compensation vesting | 0 | 0 | 0 | (3.4) | (3.4) | (3.4) | (3.4) | |||||||||||||||||
Change in fair value of Suburban Propane Partners, L.P. units | $ (0.4) | 0 | 0 | (0.4) | (0.4) | |||||||||||||||||||
Other | 0 | 0 | (0.2) | (0.2) | ||||||||||||||||||||
Net income (loss) | (19.4) | (21.4) | 17.8 | 6.1 | 6.1 | (43.3) | (27.5) | (19.4) | (21.4) | |||||||||||||||
Common Unit, Outstanding at Mar. 31, 2017 | 400,000 | 69,700,000 | ||||||||||||||||||||||
Balance at Mar. 31, 2017 | $ 2,477.3 | $ 2,678.8 | $ 582.3 | $ 194.8 | $ 194.8 | $ 1,700.2 | $ 2,484 | $ 2,477.3 | $ 2,678.8 | |||||||||||||||
Preferred units, outstanding at Mar. 31, 2017 | 68,072,226 | 68,100,000 | ||||||||||||||||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||||||||||||||||||||
Preferred units, issued | 68,072,226 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities | |||||
Net income (loss) | $ (19.4) | $ (93.7) | $ (192.1) | $ (2,303.7) | $ (10.4) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
Depreciation, amortization and accretion | 48.4 | 62.3 | 229.6 | 300.1 | 285.3 |
Amortization of debt-related deferred costs, discounts and premiums | 1.8 | 1.7 | 6.9 | 8.9 | 8.5 |
Market adjustment on interest rate swaps | 0 | (0.5) | (2.7) | ||
Unit-based compensation charges | 7.3 | 4.5 | 19.2 | 19.7 | 21.3 |
Loss on long-lived assets, net | 65.6 | 821.2 | 1.9 | ||
Goodwill impairment | 0 | 109.7 | 162.6 | 1,406.3 | 48.8 |
Loss on contingent consideration | 0 | 0 | 8.6 | ||
(Gain) loss on modification/extinguishment of debt | 37.3 | 0 | (10) | 20 | 0 |
(Earnings) loss from unconsolidated affiliates, net, adjusted for cash distributions received | (0.3) | (0.8) | 7.6 | 73.6 | 0.7 |
Deferred income taxes | (0.6) | (0.1) | (3.1) | (3.6) | (5.2) |
Other | (0.4) | 0.1 | 1.9 | 0.7 | 0 |
Changes in operating assets and liabilities | (15.2) | 50.6 | |||
Changes in operating assets and liabilities, net of effects from acquisitions: | |||||
Accounts receivable | (76.9) | 119.7 | 60.4 | ||
Inventory | (22.5) | 2 | 26.9 | ||
Prepaid expenses and other current assets | 9.2 | 1.8 | (11.4) | ||
Accounts payable, accrued expenses and other liabilities | 74.6 | (128) | (96.4) | ||
Reimbursements of property, plant and equipment | 26 | 73.3 | 21.5 | ||
Change in price risk management activities, net | 47.5 | 29.2 | (74.8) | ||
Net cash provided by operating activities | 58.9 | 134.3 | 346.1 | 440.7 | 283 |
Investing activities | |||||
Acquisitions, net of cash acquired | (7.2) | 0 | (19.5) | ||
Purchases of property, plant and equipment | (22.7) | (55.6) | (100.7) | (182.7) | (424) |
Investment in unconsolidated affiliates | (0.1) | (5.5) | (12.4) | (42) | (108.6) |
Capital distributions from unconsolidated affiliate | 10.5 | 0 | 14.8 | 9.3 | 0 |
Net proceeds from sale of assets | 0 | 0.8 | 972.7 | 2.7 | 69.1 |
Net cash provided by (used in) investing activities | (12.3) | (60.3) | 867.2 | (212.7) | (483) |
Financing activities | |||||
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 4,261.8 | 2,823.9 |
Payments on long-term debt | (1,143.7) | (286.2) | (2,536.3) | (4,113) | (2,696) |
Payments on capital leases | (0.4) | (0.5) | (1.9) | (2.2) | (3.2) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (1.9) |
Financing fees paid for early debt redemption | 0 | (13.6) | 0 | ||
Distributions to partners | (41.8) | (95.6) | (219.8) | (171.5) | (102.5) |
Distributions paid to non-controlling partners | (3.8) | (3.8) | (15.2) | (234.2) | (296.5) |
Net proceeds from issuance of preferred equity of subsidiary | 0 | 0 | 53.9 | ||
Issuance of CMLP Class A preferred units | 0 | 58.8 | 430.5 | ||
Taxes paid for unit-based compensation vesting | (3.4) | (0.6) | (0.8) | (3.8) | (3.9) |
Other | (0.1) | (0.1) | 0 | (1.3) | (0.7) |
Net cash provided by (used in) financing activities | (47.2) | (73.4) | (1,212.2) | (236.3) | 203.6 |
Net change in cash | (0.6) | 0.6 | 1.1 | (8.3) | 3.6 |
Cash at beginning of period | 1.6 | 0.5 | 0.5 | 8.8 | 5.2 |
Cash at end of period | 1 | 1.1 | 1.6 | 0.5 | 8.8 |
Supplemental disclosure of cash flow information | |||||
Cash paid during the period for interest | 121.5 | 129 | 114.4 | ||
Cash paid during the period for income taxes | 1.4 | 4.7 | 6.6 | ||
Supplemental schedule of non-cash investing and financing activities | |||||
Net change to property, plant and equipment through accounts payable and accrued expenses | (2) | (9.7) | (10.5) | (14.1) | (40.6) |
Crestwood Midstream Partners LP | |||||
Operating activities | |||||
Net income (loss) | (21.4) | (95.3) | (197.5) | (1,410.6) | 14.7 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
Depreciation, amortization and accretion | 51.2 | 64.9 | 240.5 | 278.5 | 255.4 |
Amortization of debt-related deferred costs, discounts and premiums | 1.8 | 1.7 | 6.9 | 8.1 | 7.3 |
Unit-based compensation charges | 7.3 | 4.5 | 19.2 | 18.1 | 18.1 |
Loss on long-lived assets, net | 65.6 | 227.8 | 35.1 | ||
Goodwill impairment | 0 | 109.7 | 162.6 | 1,149.1 | 48.8 |
Loss on contingent consideration | 0 | 0 | 8.6 | ||
(Gain) loss on modification/extinguishment of debt | 37.3 | 0 | (10) | 18.9 | 0 |
(Earnings) loss from unconsolidated affiliates, net, adjusted for cash distributions received | (0.3) | (0.8) | 7.6 | 73.6 | 0.7 |
Deferred income taxes | 0 | 0.2 | 0.2 | (0.3) | 0.7 |
Other | (0.4) | 0.1 | 1.9 | 0.7 | 0 |
Changes in operating assets and liabilities | (15.5) | 50.7 | |||
Changes in operating assets and liabilities, net of effects from acquisitions: | |||||
Accounts receivable | (76.9) | 119.4 | 60.4 | ||
Inventory | (22.5) | 2.1 | 26.9 | ||
Prepaid expenses and other current assets | 7.5 | 3.7 | (11.9) | ||
Accounts payable, accrued expenses and other liabilities | 75.2 | (119.8) | 25.8 | ||
Reimbursements of property, plant and equipment | 26 | 73.3 | 21.5 | ||
Change in price risk management activities, net | 47.5 | 29.2 | (74.8) | ||
Net cash provided by operating activities | 60 | 135.7 | 353.8 | 471.8 | 437.3 |
Investing activities | |||||
Acquisitions, net of cash acquired | (7.2) | 0 | (19.5) | ||
Purchases of property, plant and equipment | (22.7) | (55.6) | (100.7) | (182.7) | (421.7) |
Investment in unconsolidated affiliates | (0.1) | (5.5) | (12.4) | (41.8) | (144.4) |
Capital distributions from unconsolidated affiliate | 10.5 | 0 | 14.8 | 9.3 | 0 |
Net proceeds from sale of assets | 0 | 0.8 | 972.7 | 2.7 | 2.7 |
Net cash provided by (used in) investing activities | (12.3) | (60.3) | 867.2 | (212.5) | (582.9) |
Financing activities | |||||
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 3,490.1 | 2,089.9 |
Payments on long-term debt | (1,143.7) | (286) | (2,536.1) | (2,960.9) | (1,950) |
Payments on capital leases | (0.4) | (0.5) | (1.9) | (2.2) | (3.2) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (0.1) |
Financing fees paid for early debt redemption | 0 | (13.6) | 0 | ||
Distributions to partners | (46.9) | (101) | (242.8) | (819.5) | (470.5) |
Net proceeds from issuance of preferred equity of subsidiary | 0 | 0 | 53.9 | ||
Issuance of CMLP Class A preferred units | 0 | 58.8 | 430.5 | ||
Taxes paid for unit-based compensation vesting | (3.4) | (0.6) | (0.8) | (2.1) | (1.6) |
Other | 0 | (0.1) | (0.8) | ||
Net cash provided by (used in) financing activities | (48.4) | (74.7) | (1,219.8) | (266.8) | 148.1 |
Net change in cash | (0.7) | 0.7 | 1.2 | (7.5) | 2.5 |
Cash at beginning of period | 1.3 | 0.1 | 0.1 | 7.6 | 5.1 |
Cash at end of period | 0.6 | 0.8 | 1.3 | 0.1 | 7.6 |
Supplemental disclosure of cash flow information | |||||
Cash paid during the period for interest | 121.5 | 118.2 | 96.9 | ||
Cash paid during the period for income taxes | 0.7 | 0.6 | 0.4 | ||
Supplemental schedule of non-cash investing and financing activities | |||||
Net change to property, plant and equipment through accounts payable and accrued expenses | $ (2) | $ (9.7) | $ (10.5) | $ (14.1) | $ (40.6) |
Organization and Business Descr
Organization and Business Description | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Disclosure Partnership Organization And Basis Of Presentation Narrative [Abstract] | ||
Organization and Business Description | Note 1 – Organization and Business Description The accompanying notes to the consolidated financial statements apply to Crestwood Equity Partners LP and Crestwood Midstream Partners LP, unless otherwise indicated. References in this report to “we,” “us,” “our,” “ours,” “our company,” the “partnership,” the “Company,” “Crestwood Equity,” “CEQP,” and similar terms refer to either Crestwood Equity Partners LP itself or Crestwood Equity Partners LP and its consolidated subsidiaries, as the context requires. Unless otherwise indicated, references to “Crestwood Midstream” and “CMLP” refer to Crestwood Midstream Partners LP and its consolidated subsidiaries. The accompanying consolidated financial statements and related notes should be read in conjunction with our 2016 Annual Report on Form 10-K 10-K. Organization Crestwood Equity is a publicly-traded (NYSE: CEQP) Delaware limited partnership that develops, acquires, owns or controls, and operates primarily fee-based | Note 1 – Organization and Description of Business The accompanying notes to the consolidated financial statements apply to Crestwood Equity Partners LP (the Company, Crestwood Equity or CEQP) and Crestwood Midstream Partners LP (Crestwood Midstream or CMLP) unless otherwise indicated. Organization Crestwood Equity Partners LP non-economic Crestwood Midstream Partners LP non-economic The diagram below reflects a simplified version of our ownership structure as of December 31, 2016: LOGO Unless otherwise indicated, references in this report to “we,” “us,” “our,” “ours,” “our company,” the “partnership,” the “Company,” “Crestwood Equity,” “CEQP,” and similar terms refer to either Crestwood Equity Partners LP itself or Crestwood Equity Partners LP and its consolidated subsidiaries, as the context requires. Unless otherwise indicated, references to “Crestwood Midstream” and “CMLP” refer to Crestwood Midstream Partners LP and its consolidated subsidiaries. Description of Business Crestwood Equity develops, acquires, owns or controls, and operates primarily fee-based Our financial statements reflect three operating and reporting segments described below. • Gathering and Processing tight-gas • Storage and Transportation oil-producing crude-by-rail • Marketing, Supply and Logistics rail-to-truck |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Accounting Policies [Abstract] | ||
Basis of Presentation and Summary of Significant Accounting Policies | Note 2 – Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation Our consolidated financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and include the accounts of all consolidated subsidiaries after the elimination of all intercompany accounts and transactions. In management’s opinion, all necessary adjustments to fairly present our results of operations, financial position and cash flows for the periods presented have been made and all such adjustments are of a normal and recurring nature. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the SEC. Significant Accounting Policies There were no material changes in our significant accounting policies from those described in our 2016 Annual Report on Form 10-K. Goodwill The following table summarizes goodwill impairments of certain of our reporting units recorded during the three months ended March 31, 2016 ( in millions Gathering and Processing Marcellus $ 8.6 Storage and Transportation COLT 13.7 Marketing, Supply and Logistics Supply and Logistics 65.5 Storage and Terminals 14.1 Trucking 7.8 Total $ 109.7 Unit-Based Compensation 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Crestwood Equity 2017 Long Term Incentive Plan New Accounting Pronouncements Issued But Not Yet Adopted As of March 31, 2017, the following accounting standards had not yet been adopted by us: In May 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09, Revenue from Contracts with Customers, non-cash In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment | Note 2 – Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation Our consolidated financial statements are prepared in accordance with GAAP and include the accounts of all consolidated subsidiaries after the elimination of all intercompany accounts and transactions. In management’s opinion, all necessary adjustments to fairly present our results of operations, financial position and cash flows for the periods presented have been made and all such adjustments are of a normal and recurring nature. In September 2015, Crestwood Midstream merged with a wholly-owned subsidiary of CEQP, with Crestwood Midstream surviving as a wholly-owned subsidiary of CEQP (the Simplification Merger), and CEQP contributed 100% of its interest in Crestwood Operations LLC (Crestwood Operations) to Crestwood Midstream. As a result of this transaction, Crestwood Midstream controls the operating and financial decisions of Crestwood Operations. Crestwood Midstream accounted for this transaction as a reorganization of entities under common control and the accounting standards related to such transactions requires Crestwood Midstream to record the assets and liabilities of Crestwood Operations at CEQP’s carrying value and retroactively adjust Crestwood Midstream’s historical results to reflect the operations of Crestwood Operations as being acquired on June 19, 2013, the date in which Crestwood Midstream and Crestwood Operations came under common control. Prior to the Simplification Merger, Crestwood Equity consolidated the results of Crestwood Operations in its financial statements and as such, this transaction had no impact on its historical financial statements. Significant Accounting Policies Principles of Consolidation We consolidate entities when we have the ability to control or direct the operating and financial decisions of the entity or when we have a significant interest in the entity that gives us the ability to direct the activities that are significant to that entity. The determination to consolidate or apply the equity method of accounting to an entity can also require us to evaluate whether that entity is considered a variable interest entity. This evaluation, along with the determination of our ability to control, direct or exert significant influence over an entity involves the use of judgment. We apply the equity method of accounting where we can exert significant influence over, but do not control or direct the policies, decisions or activities of an entity and in the case of a variable interest entity (VIE), are not the primary beneficiary. We use the cost method of accounting where we are unable to exert significant influence over the entity. All of our consolidated entities and equity method investments are not VIEs except for our investment in Crestwood Permian Basin Holdings LLC (Crestwood Permian). In October 2016, Crestwood Infrastructure Holdings LLC (Crestwood Infrastructure), our wholly-owned subsidiary, and an affiliate of First Reserve formed Crestwood Permian to fund and own a gathering system and other potential operations in the Delaware Permian. Crestwood Permian is a VIE because it does not have sufficient equity at risk to fund its current activities (i.e., the construction of the Nautilus gathering system) without additional capital contributions from us and First Reserve, and CEQP has provided a guarantee to a third party that requires CEQP to fund 100% of the costs to build the Nautilus gathering system (which is currently estimated to cost approximately $180 million) if Crestwood Permian fails to do so. We account for our investment in Crestwood Permian as an equity method investment because we are not the primary beneficiary of the VIE as of December 31, 2016. On June 3, 2016, our wholly-owned subsidiary, Crestwood Pipeline and Storage Northeast LLC (Crestwood Northeast) and Con Edison Gas Pipeline and Storage Northeast, LLC (CEGP), a wholly-owned subsidiary of Consolidated Edison, Inc. (Consolidated Edison), formed the Stagecoach Gas Services LLC (Stagecoach Gas) joint venture, to own and further develop our natural gas storage and transportation business located in the Northeast (the NE S&T assets). We contributed to the joint venture the entities owning the NE S&T assets, CEGP contributed $975 million in exchange for a 50% equity interest in Stagecoach Gas, and Stagecoach Gas distributed to us the net cash proceeds received from CEGP. The assets contributed to the joint venture were previously included in our storage and transportation segment. We deconsolidated the NE S&T assets as a result of the contribution of these assets to Stagecoach Gas and began accounting for our 50% equity interest in Stagecoach Gas under the equity method of accounting. The deconsolidation of our NE S&T assets resulted in a decrease of $1,127.6 million in property, plant and equipment, net, $8.5 million of intangible assets, net and $11.2 million of other assets and (liabilities), net. For a discussion of the decrease in goodwill associated with this joint venture transaction, see “Goodwill” below. See Note 6 for a further discussion of our investment in Stagecoach Gas. Use of Estimates The preparation of our consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the amounts we report as assets, liabilities, revenues and expenses and our disclosures in these consolidated financial statements. Actual results can differ from those estimates. Cash We consider all highly liquid investments with an original maturity of less than three months to be cash. Inventory Inventory for our marketing, supply and logistics operations are stated at the lower of cost or market and cost is computed predominantly using the average cost method. Our inventory consists primarily of crude oil and NGLs of approximately $56.7 million and $35.4 million at December 31, 2016 and 2015. Property, Plant and Equipment Property, plant and equipment is recorded at is original cost of construction or, upon acquisition, at the fair value of the assets acquired. For assets we construct, we capitalize direct costs, such as labor and materials, and indirect costs, such as overhead and interest. We capitalize major units of property replacements or improvement and expense minor items. Depreciation is computed by the straight-line method over the estimated useful lives of the assets, as follows: Years Gathering systems and pipelines 20 Facilities and equipment 20 Buildings, rights-of-way 20 – 40 Office furniture and fixtures 5 – 10 Vehicles 5 We deplete salt deposits included in our property, plant and equipment utilizing the unit of production method. We evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such events or changes in circumstances are present, a loss is recognized if the carrying value of the asset is in excess of the sum of the undiscounted cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset, which is typically based on discounted cash flow projections using assumptions as to revenues, costs and discount rates typical of third party market participants, which is a Level 3 fair value measurement. We did not record impairments of our property, plant and equipment during the year ended December 31, 2016. During 2015 and 2014, we recorded the following impairments of our property, plant and equipment and we reflected these impairments in loss on long-lived assets in our consolidated statements of operations: • During 2015 and 2014, we incurred $8.5 million and $13.2 million of impairments of our property, plant and equipment related to our Granite Wash gathering and processing operations, which resulted from decreases in forecasted cash flows for those operations given that our major customer of those assets declared bankruptcy and ceased substantial drilling in the Granite Wash in the near future given current and future anticipated market conditions related to normal gas and NGLs. The fair value of our property, plant and equipment related to our Granite Wash operations was $11.2 million as of December 31, 2015. • During 2015, Crestwood Equity incurred a $354.4 million impairment of its property, plant and equipment related to its Barnett gathering and processing operations, which resulted from the actions of our primary customer in the Barnett Shale, Quicksilver Resources, Inc. (Quicksilver), related to its filing for protection under Chapter 11 of the U.S. Bankruptcy Code in 2015. The fair value of our property, plant and equipment related to our Barnett operations was $298.5 million as of December 31, 2015. Crestwood Midstream did not record an impairment of its property, plant and equipment related to its gathering and processing assets in the Barnett Shale as the sum of the undiscounted cash flows expected to result from the use of the assets and their eventual disposition exceeded the carrying value of the property, plant and equipment by over 30%. As a result, Crestwood Midstream’s property, plant and equipment exceeds Crestwood Equity’s property, plant and equipment related to its gathering and processing assets in the Barnett Shale as of December 31, 2016 and 2015. • During 2015, we incurred $61.9 million and $45.7 million of impairments of property, plant and equipment related to our Fayetteville and Haynesville gathering and processing operations, respectively, which resulted from decreases in forecasted cash flows for those operations given that our customers for those assets have ceased any substantial drilling in the Fayetteville and Haynesville Shales in the near future given current and future anticipated market conditions related to natural gas. The fair value of our property, plant and equipment related to our Fayetteville and Haynesville operations was $59.3 million and $3.8 million, respectively, as of December 31, 2015. • During 2015, we incurred a $31.2 million impairment of our property, plant and equipment related to our Watkins Glen development project in our marketing, supply and logistics segment, which resulted from continued delays and uncertainties in the permitting of our proposed NGL storage facility. The fair value of our property, plant and equipment related to our Watkins Glen development project was $6.7 million as of December 31, 2015. At December 31, 2015, our estimates of fair value considered a number of factors, including the potential value we would receive if we sold the asset, a 15% discount rate and projected cash flows, which is a Level 3 fair value measurement. Projected cash flows of our property, plant and equipment are generally based on current and anticipated future market conditions, which require significant judgment to make projections and assumptions about pricing, demand, competition, operating costs, constructions costs, legal and regulatory issues and other factors that may extend many years into the future and are often outside of our control. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. Identifiable Intangible Assets Our identifiable intangible assets consist of customer accounts, covenants not to compete, trademarks and certain revenue contracts. Customer accounts, covenants not to compete, trademarks and certain of our revenue contracts have arisen from acquisitions. We amortize certain of our revenue contracts based on the projected cash flows associated with these contracts if the projected cash flows are readily determinable, otherwise we amortize our revenue contracts on a straight-line basis. We recognize acquired intangible assets separately if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the intangible asset can be sold, transferred, licensed, rented or exchanged, regardless of the acquirer’s intent to do so. During 2016, 2015 and 2014, we recorded the following impairments of our intangible assets and we reflected these impairments in loss on long-lived assets in our consolidated statements of operations: • During 2016, we incurred a $31.4 million impairment of intangible assets related to our MS&L Trucking operations, which resulted from the impact of increased competition on our Trucking business and the loss of several key customer relationships that were acquired in 2013 to which the intangible assets related. The fair value of our intangible assets related to our MS&L Trucking operations was $3.7 million as of December 31, 2016. • During 2015, Crestwood Equity fully impaired $238.9 million of its intangible assets related to its Barnett gathering and processing operations, which resulted from the actions of our primary customer in the Barnett Shale, Quicksilver, related to filing for protection under Chapter 11 of the U.S. Bankruptcy Code in 2015. • During 2015, we fully impaired $70.9 million and $6.0 million of intangible assets related to our Fayetteville and Haynesville gathering and processing operations, respectively, which resulted from decreases in forecasted cash flows for those operations given that our customers for those assets have ceased any substantial drilling in the Fayetteville and Haynesville Shales in the near future given current and future anticipated market conditions related to natural gas. • During 2014, we fully impaired $20 million of intangible assets related to our Granite Wash gathering and processing operations, which resulted from decreases in forecasted cash flows for those operations given that our major customer of those assets declared bankruptcy and ceased substantial drilling in the Granite Wash in the near future given current and future anticipated market conditions related to natural gas and NGLs. At December 31, 2016, our estimates of fair value considered a number of factors, including the potential value we would receive if we sold the asset, a 19% discount rate and projected cash flows, which is a Level 3 fair value measurement. Projected cash flows of our intangible assets are generally based on current and anticipated future market conditions, which require significant judgment to make projections and assumptions about pricing, demand, competition, operating costs, construction costs, legal and regulatory issues and other factors that may extend many years into the future and are often outside of our control. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. Certain intangible assets are amortized on a straight-line basis over their estimated economic lives, as follows: Weighted- Life (years) Customer accounts 20 Covenants not to compete 5 Trademarks 6 - 8 Goodwill Our goodwill represents the excess of the amount we paid for a business over the fair value of the net identifiable assets acquired. We evaluate goodwill for impairment annually on December 31, and whenever events indicate that it is more likely than not that the fair value of a reporting unit could be less than its carrying amount. This evaluation requires us to compare the fair value of each of our reporting units to its carrying value (including goodwill). If the fair value exceeds the carrying amount, goodwill of the reporting unit is not considered impaired. We estimate the fair value of our reporting units based on a number of factors, including discount rates, projected cash flows and the potential value we would receive if we sold the reporting unit. We also compare the total fair value of our reporting units to our overall enterprise value, which considers the market value for our common and preferred units. Estimating projected cash flows requires us to make certain assumptions as it relates to the future operating performance of each of our reporting units (which includes assumptions, among others, about estimating future operating margins and related future growth in those margins, contracting efforts and the cost and timing of facility expansions) and assumptions related to our customers, such as their future capital and operating plans and their financial condition. When considering operating performance, various factors are considered such as current and changing economic conditions and the commodity price environment, among others. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. If the assumptions embodied in the projections prove inaccurate, we could incur a future impairment charge. In addition, the use of the income approach to determine the fair value of our reporting units (see further discussion of the use of the income approach below) could result in a different fair value if we had utilized a market approach, or a combination thereof. We acquired substantially all of our reporting units in 2013, 2012 and 2011, which required us to record the assets, liabilities and goodwill of each of those reporting units at fair value on the date they were acquired. As a result, any level of decrease in the forecasted cash flows of these businesses or increases in the discount rates utilized to value those businesses from their respective acquisition dates would likely result in the fair value of the reporting unit falling below the carrying value of the reporting unit, and could result in an assessment of whether that reporting unit’s goodwill is impaired. Current commodity prices are significantly lower compared to commodity prices during 2014, and that decrease has adversely impacted forecasted cash flows, discount rates and stock/unit prices for most companies in the midstream industry, including us. As a result, we recorded goodwill impairments on several of our reporting units during 2016, 2015 and 2014. The following table summarizes the goodwill of our various reporting units ( in millions Goodwill 31, 2014 Goodwill 1, 2015 Goodwill 31, 2015 Goodwill 31, 2015 Impact of 31, 2016 Goodwill 31, 2016 Goodwill Ended December 31, 2016 (1) Goodwill 31, 2016 G&P Fayetteville $ 4.3 $ 72.5 $ 72.5 $ — $ — $ — $ — $ — Granite Wash 14.2 — — — — — — — Marcellus — 8.6 — 8.6 — 8.6 — — Arrow — 45.9 — 45.9 — — — 45.9 S&T Northeast Storage and Transportation — 726.3 — 726.3 726.3 — — — COLT — 668.3 623.4 44.9 — 44.9 — — MS&L West Coast — 85.9 85.9 — — — 2.4 2.4 Supply and Logistics — 266.2 99.0 167.2 — 65.5 — 101.7 Storage and Terminals — 104.2 53.7 50.5 — 14.1 — 36.4 US Salt 2.2 12.6 — 12.6 — — — 12.6 Trucking — 177.9 148.4 29.5 — 29.5 — — Watkins Glen 28.1 66.2 66.2 — — — — — Total Crestwood Midstream $ 48.8 $ 2,234.6 $ 1,149.1 $ 1,085.5 $ 726.3 $ 162.6 $ 2.4 $ 199.0 Barnett (G&P) — 257.2 257.2 — — — — — Total Crestwood Equity $ 48.8 $ 2,491.8 $ 1,406.3 $ 1,085.5 $ 726.3 $ 162.6 $ 2.4 $ 199.0 (1) In December 2016, we acquired four NGL terminals for our MS&L segment for approximately $7.2 million with total goodwill of approximately $2.4 million. This acquisition was not material to our consolidated financial statements as of and for the year ended December 31, 2016. The goodwill impairments recorded during 2016 related to our G&P Marcellus operations, our MS&L Supply and Logistics and Storage and Terminals operations, our S&T COLT operations and our MS&L Trucking operations. The 2016 goodwill impairments on our Marcellus, Supply and Logistics, and Storage and Terminals operations primarily resulted from increasing the discount rates utilized in determining the fair value of those reporting units considering the significant decrease in the market price of our common units during the first quarter of 2016 and the continued decrease in commodity prices and its impact on the midstream industry and our customers. The 2016 goodwill impairments on our COLT and Trucking operations also resulted from those factors, but in addition they were impacted by (i) the expiration of two key crude-by-rail The goodwill impairments recorded during 2015 and 2014 primarily resulted from decreasing forecasted cash flows and increasing the discount rates utilized in determining the fair value of the reporting units considering the continued decrease in commodity prices and its impact on the midstream industry and our customers. We utilized the income approach to determine the fair value of our reporting units given the limited availability of comparable market-based transactions during 2015 and 2014, and we utilized discount rates ranging from 10% to 16% in 2015 and 9% to 12% in 2014 in applying the income approach to determine the fair value of our reporting units with goodwill as of December 31, 2015 and 2014. In addition to the goodwill impairments recorded by Crestwood Midstream as reflected in the table above, Crestwood Equity recorded a goodwill impairment of its Barnett reporting unit of approximately $257.2 million in 2015. The impairment primarily resulted from increasing the discount rate utilized in determining the fair value of the reporting unit, considering the actions of its primary customer in the Barnett Shale during 2015, Quicksilver, related to its filing for protection under Chapter 11 of the U.S. Bankruptcy Code in March 2015. Investment in Unconsolidated Affiliates Equity method investments in which we exercise significant influence, but do not control and are not the primary beneficiary, are accounted for using the equity method of accounting. Differences in the basis of investments and the separate net asset values of the investees, if any, are amortized into net income or loss over the remaining useful lives of the underlying assets and liabilities, except for the excess related to goodwill. We evaluate our equity method investments for impairment when events or circumstances indicate that the carrying value of the equity method investment may be impaired and that impairment is other than temporary. If an event occurs, we evaluate the recoverability of our carrying value based on the fair value of the investment. If an impairment is indicated, or if we decide to sell an investment in unconsolidated affiliate, we adjust the carrying values of the asset downward, if necessary, to their estimated fair values. During 2015, we recorded a $51.4 million and $23.4 million impairment of our Jackalope Gas Gathering Services, L.L.C. (Jackalope) and Powder River Basin Industrial Complex, LLC (PRBIC) equity method investments, respectively, as a result of decreasing forecasted cash flows and increasing the discount rates utilized in determining the fair value of the equity method investments considering the continued decrease in commodity prices and its impact on the midstream industry and our equity method investments’ customers, which is a Level 3 fair value measurement. We did not record impairments of our equity method investments during the years ended December 31, 2016 or December 31, 2014. We estimated the fair value of our equity method investments at December 31, 2015 based on projected cash flows, a 15.5% discount rate and the potential value we would receive if we sold the equity method investment. Estimating projected cash flows requires us to make certain assumptions as it relates to the future operating performance of each of our equity method investments (which includes assumptions, among others, about estimating future operating margins and related future growth in those margins, contracting efforts and the cost and timing of facility expansions) and assumptions related to our equity method investments’ customers, such as future capital and operating plans and their financial condition. When considering operating performance, various factors are considered such as current and changing economic conditions and the commodity price environment, among others. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. Asset Retirement Obligations An asset retirement obligation (ARO) is an estimated liability for the cost to retire a tangible asset. We record a liability for legal or contractual obligations to retire our long-lived assets associated with right-of-way Deferred Financing Costs Deferred financing costs represent costs associated with obtaining long-term financing and are amortized over the term of the related debt using a method which approximates the effective interest method and has a weighted average life of six years. Effective January 1, 2016, we adopted the provisions of Accounting Standards Update (ASU) 2015-03, Interest (Subtopic 835-30), Revenue Recognition We gather, treat, compress, store, transport and sell various commodities (including crude oil, natural gas, NGLs and water) pursuant to fixed-fee percent-of-proceeds We recognize revenues for these services and products when all of the following criteria are met: • services have been rendered or products delivered or sold; • persuasive evidence of an exchange arrangement exists; • the price for services is fixed or determinable; and • collectability is reasonably assured. We record deferred revenue when we receive amounts from our customers but have not met the criteria listed above. We recognize deferred revenue in our consolidated statements of operations when the criteria has been met and all services have been rendered. At December 31, 2016 and 2015, we had deferred revenue of approximately $7.5 million and $14.2 million, which is reflected in accrued expenses and other liabilities on our consolidated balance sheets. Credit Risk and Concentrations Inherent in our contractual portfolio are certain credit risks. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. We take an active role in managing credit risk and have established control procedures, which are reviewed on an ongoing basis. We attempt to minimize credit risk exposure through credit policies and periodic monitoring procedures as well as through customer deposits, letters of credit and entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate. Income Taxes Crestwood Equity is a master limited partnership and Crestwood Midstream is a limited partnership. Partnerships are generally not subject to federal income tax, although publicly-traded partnerships are treated as corporations for federal income tax purposes and therefore are subject to federal income tax, unless the partnership generates at least 90% of its gross income from qualifying sources. If the qualifying income requirement is satisfied, the publicly-traded partnership will be treated as a partnership for federal income tax purposes. We satisfy the qualifying income requirement and are treated as a partnership for federal and state income tax purposes. Our consolidated earnings are included in the federal and state income tax returns of our partners. However, legislation in certain states allows for taxation of partnerships, and as such, certain state taxes have been included in our accompanying financial statements as income taxes due to the nature of the tax in those particular states as discussed below. In addition, federal and state income taxes are provided on the earnings of the subsidiaries incorporated as taxable entities. We are required to recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax basis of assets and liabilities using expected rates in effect for the year in which the differences are expected to reverse. We are responsible for the Texas Margin tax computed on the Texas franchise tax returns. The margin tax qualifies as an income tax under GAAP, which requires us to recognize the impact of this tax on the temporary differences between the financial statement assets and liabilities and their tax basis attributable to such tax. Net earnings for financial statement purposes may differ significantly from taxable income reportable to unitholders as a result of differences between the tax basis and the financial reporting basis of assets and liabilities and the taxable income allocation requirements under the partnership agreement. Environmental Costs and Other Contingencies We recognize liabilities for environmental and other contingencies when there is an exposure that indicates it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. Where the most likely outcome of a contingency can be reasonably estimated, we accrue a liability for that amount. Where the most likely outcome cannot be estimated, a range of potential losses is established and if no one amount in that range is more likely than any other, the low end of range is accrued. We record liabilities for environmental contingencies at their undiscounted amounts on our consolidated balance sheets as accrued expenses and other liabilities when environmental assessments indicate that remediation efforts are probable and costs can be reasonably estimated. Estimates of our liabilities are based on currently available facts and presently enacted laws and regulations, taking into consideration the likely effects of other societal and economic factors. These estimates are subject to revision in future periods based on actual costs or new circumstances. We capitalize costs that benefit future periods and recognize a current period charge in operations and maintenance expenses when clean-up We evaluate potential recoveries of amounts from third parties, including insurance coverage, separately from our liability. Recovery is evaluated based on the solvency of the third party, among other factors. When recovery is assured, we record and report an asset separately from the associated liability on our consolidated balance sheet. Price Risk Management Activities We utilize certain derivative financial instruments to (i) manage our exposure to commodity price risk, specifically, the related change in the fair value of inventory, as well as the variability of cash flows related to forecasted transactions; (ii) ensure the availability of adequate physical supply of commodity; and (iii) manage our exposure to the interest rate risk associated with fixed and variable rate borrowings. We record all derivative instruments on the balance sheet at their fair values as either assets or liabilities measured at fair value. Changes in the fair value of these derivative financial instruments are recorded through current earnings. We did not have any derivatives identified as fair value hedges or cash flow hedges for accounting purposes during the years ended December 31, 2016, 2015 or 2014. Unit-Based Compensation Long-term incentive awards are granted under the Crestwood Equity incentive plan. Unit-based compensation awards consist of restricted units that are valued at the closing market price of CEQP’s common units on the date of grant, which reflects the fair value of such awards. For those awards that are settled in cash, the associated liability is remeasured at every balance sheet date through settlement, such that the vested portion of the liability is adjusted to reflect its revised fair value through compensation expense. We generally recognize the expense associated with the award over the vesting period. New Accounting Pronouncements Issued But Not Yet Adopted As of December 31, 2016, the following accounting standards had not yet been adopted by us: In May 2014, the FASB issued (ASU) 2014-09, Revenue from Contracts with Customers, non-cash In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting transactions, including the classification of awards as either equity or liabilities and presentation on the statement of cash flows. We adopted the provisions of this standard effective January 1, 2017 and it is not anticipated to have a material impact on our consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments of cash flows. We expect to adopt the provisions of this standard effective January 1, 2018 |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisitions | Note 3 – Acquisitions Crude Transportation Acquisitions (Bakken) Red Rock LT Enterprises The acquisitions of Red Rock and LT Enterprises were not material to our marketing, supply and logistics segment’s results of operations for the year ended December 31, 2014. In addition, transaction costs related to these acquisitions were not material for the year ended December 31, 2014. |
Certain Balance Sheet Informati
Certain Balance Sheet Information | 12 Months Ended |
Dec. 31, 2016 | |
Balance Sheet Related Disclosures [Abstract] | |
Certain Balance Sheet Information | Note 4 – Certain Balance Sheet Information Property, Plant and Equipment Property, plant and equipment of the following at December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Gathering systems and pipelines and related assets $ 639.4 $ 1,075.7 $ 782.3 $ 1,218.5 Facilities and equipment 1,328.3 1,505.9 1,513.4 1,691.0 Buildings, land, rights-of-way, 315.4 833.4 319.1 837.1 Vehicles 45.7 46.3 44.0 44.6 Construction in process 85.9 114.5 85.9 114.5 Base gas — 32.0 — 32.0 Salt deposits 120.5 120.5 120.5 120.5 Office furniture and fixtures 20.2 19.4 20.3 19.5 2,555.4 3,747.7 2,885.5 4,077.7 Less: accumulated depreciation and depletion 457.8 436.9 587.1 552.0 Total property, plant and equipment, net $ 2,097.6 $ 3,310.8 $ 2,298.4 $ 3,525.7 Depreciation. Capitalized Interest. Intangible Assets Intangible assets consisted of the following at December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Customer accounts $ 541.9 $ 583.7 $ 541.9 $ 583.7 Covenants not to compete 1.0 6.6 1.0 5.6 Gas gathering, compression and processing contracts 325.2 325.2 325.2 325.2 Acquired storage contracts — 29.0 — 29.0 Trademarks 30.5 31.3 15.0 15.8 898.6 975.8 883.1 959.3 Less: accumulated amortization 241.2 206.6 230.2 197.9 Total intangible assets, net $ 657.4 $ 769.2 $ 652.9 $ 761.4 The following table summarizes the total of accumulated amortization of intangible assets by the type of intangible asset at December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Customer accounts $ 162.4 $ 130.1 $ 162.4 $ 130.1 Covenants not to compete — 2.5 — 1.7 Gas gathering, compression and processing contracts 63.2 44.3 63.2 44.3 Acquired storage contracts — 18.5 — 18.5 Trademarks 15.6 11.2 4.6 3.3 Total accumulated amortization $ 241.2 $ 206.6 $ 230.2 $ 197.9 Crestwood Equity’s amortization expense related to its intangible assets for the years ended December 31, 2016, 2015 and 2014, was approximately $72.5 million, $102.8 million and $99.3 million. Crestwood Midstream’s amortization expense related to its intangible assets for the years ended December 31, 2016, 2015 and 2014 was approximately $69.3 million, $89.6 million and $82.7 million. Estimated amortization of our intangible assets for the next five years is as follows ( in millions CEQP CMLP Year Ending December 31, 2017 $ 53.7 $ 50.6 2018 43.6 42.2 2019 41.9 41.9 2020 41.9 41.9 2021 41.9 41.9 Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following at December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Accrued expenses $ 46.9 $ 46.4 $ 45.5 $ 44.1 Accrued property taxes 4.2 4.8 4.2 4.8 Accrued natural gas purchases 4.9 1.5 4.9 1.5 Tax payable 1.2 0.5 — 0.5 Interest payable 22.8 26.2 22.8 26.2 Accrued additions to property, plant and equipment 1.7 10.4 1.7 10.4 Capital leases 1.3 1.6 1.3 1.6 Deferred revenue 7.5 14.2 7.5 14.2 Total accrued expenses and other liabilities $ 90.5 $ 105.6 $ 87.9 $ 103.3 |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2016 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Asset Retirement Obligations | Note 5 – Asset Retirement Obligations We have legal obligations associated with right-of-way The following table presents the changes in the net asset retirement obligations for the years ended December 31, 2016 and 2015 ( in millions December 31, 2016 2015 Net asset retirement obligation at January 1 $ 26.4 $ 23.8 Liabilities incurred 1.0 1.1 Liabilities settled (1.2 ) — Accretion expense 1.6 1.5 Net asset retirement obligation at December 31 $ 27.8 $ 26.4 We did not have any material assets that were legally restricted for use in settling asset retirement obligations as of December 31, 2016 and 2015. |
Investments in Unconsolidated A
Investments in Unconsolidated Affiliates | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Equity Method Investments and Joint Ventures [Abstract] | ||
Investments in Unconsolidated Affiliates | Note 4 – Investments in Unconsolidated Affiliates Crestwood Permian Basin Holdings LLC In October 2016, Crestwood Infrastructure, our wholly-owned subsidiary, and an affiliate of First Reserve formed a joint venture, Crestwood Permian Basin Holdings LLC (Crestwood Permian), to fund and own the Nautilus gathering system (described below) and other potential investments in the Delaware Permian. As part of this transaction, we transferred to the joint venture 100% of the equity interest of the Crestwood entity that will construct and own the Nautilus gathering system. We manage and we account for our 50% ownership interest in Crestwood Permian, which is a VIE, under the equity method of accounting as we exercise significant influence, but do not control Crestwood Permian and we are not its primary beneficiary due to First Reserve’s rights to exercise control over the entity. Crestwood Permian has a long-term agreement with SWEPI LP (SWEPI), a subsidiary of Royal Dutch Shell plc, to construct, own and operate a natural gas gathering system in SWEPI’s operated position in the Delaware Permian. SWEPI has dedicated to Crestwood Permian approximately 100,000 acres and gathering rights for SWEPI’s gas production across a large acreage position in Loving, Reeves and Ward Counties, Texas. The initial gathering system (the Nautilus gathering system) is designed for gas production of approximately 250 MMcf/d and will include 194 miles of low pressure gathering lines, 36 miles of high pressure trunklines, and centralized compression facilities which are expandable over time as production increases. Crestwood Permian will provide gathering, dehydration, compression and liquids handling services on a fixed fee basis. In conjunction with this growth project, we granted SWEPI an option to purchase up to a 50% equity interest in Crestwood Permian’s wholly-owned subsidiary, Crestwood Permian Basin LLC, that will own the Nautilus gathering system. The purchase option expires on September 1, 2017. Under the joint venture, First Reserve will fund up to $37.5 million of the capital requirements during the early-stage build-out in-service CEQP issued a guarantee in conjunction with the Crestwood Permian gas gathering agreement with SWEPI described above, under which CEQP has agreed to fund 100% of the costs to build the Nautilus gathering system (which is currently estimated to cost approximately $180 million) if Crestwood Permian fails to do so. We do not believe this guarantee is probable of resulting in future losses based on our assessment of the nature of the guarantee, the financial condition of the guaranteed party and the period of time that the guarantee has been outstanding, and as a result, we have not recorded a liability on our balance sheet at March 31, 2017 and December 31, 2016. Net Investments and Earnings Our net investments in and earnings from our unconsolidated affiliates are as follows ( in millions, unless otherwise stated Ownership Investment Earnings (Loss) from March 31, March 31, December 31, Three Months Ended 2017 2017 2016 2017 2016 Stagecoach Gas Services LLC (1) 50.00 % $ 864.9 $ 871.0 $ 6.0 $ — Jackalope Gas Gathering Services, L.L.C. (2) 50.00 % (3) 193.2 197.2 1.8 5.1 Tres Palacios Holdings LLC (4) 50.01 % 39.5 39.0 0.5 0.8 Powder River Basin Industrial Complex, LLC (5) 50.01 % 8.4 8.7 — 0.6 Crestwood Permian Basin Holdings LLC (6) 50.00 % (0.7 ) (0.5 ) (0.2 ) — Total $ 1,105.3 $ 1,115.4 $ 8.1 $ 6.5 (1) As of March 31, 2017, our equity in the underlying net assets of Stagecoach Gas Services LLC (Stagecoach Gas) exceeded our investment balance by approximately $51.4 million. This excess amount is entirely attributable to goodwill and, as such, is not subject to amortization. Our Stagecoach Gas investment is included in our storage and transportation segment. (2) As of March 31, 2017, our equity in the underlying net assets of Jackalope Gas Gathering Services, L.L.C. (Jackalope) exceeded our investment balance by approximately $0.8 million. We amortize this amount over 20 years, which represents the life of Jackalope’s gathering agreement with Chesapeake Energy Corporation (Chesapeake), and we reflect the amortization as an increase in our earnings from unconsolidated affiliates. Our Jackalope investment is included in our gathering and processing segment. (3) Excludes non-controlling (4) As of March 31, 2017, our equity in the underlying net assets of Tres Palacios Holdings LLC (Tres Holdings) exceeded our investment balance by approximately $27.5 million. We amortize this amount over the life of the Tres Palacios Gas Storage LLC (Tres Palacios) sublease agreement, and we reflect the amortization as an increase in our earnings from unconsolidated affiliates. Our Tres Holdings investment is included in our storage and transportation segment. (5) As of March 31, 2017, our equity in the underlying net assets of Powder River Basin Industrial Complex, LLC (PRBIC) exceeded our investment balance by approximately $15.1 million. We amortize a portion of this amount over the life of PRBIC’s property, plant and equipment and its agreement with Chesapeake, and we reflect the amortization as an increase in our earnings from unconsolidated affiliates. Our PRBIC investment is included in our storage and transportation segment. (6) As of March 31, 2017, our equity in the underlying net assets of Crestwood Permian approximated our investment balance. Our Crestwood Permian investment is included in our gathering and processing segment. Summarized Financial Information of Unconsolidated Affiliates Below is the summarized operating results for our significant unconsolidated affiliates ( in millions; amounts represent 100% of unconsolidated affiliate information Three Months Ended March 31, 2017 2016 Operating Operating Net Income Operating Operating Net Stagecoach Gas $ 42.0 $ 19.4 $ 22.6 $ — $ — $ — Other (1) 19.9 16.2 3.7 30.4 18.9 11.5 Total $ 61.9 $ 35.6 $ 26.3 $ 30.4 $ 18.9 $ 11.5 (1) Includes our Jackalope, Tres Holdings, PRBIC and Crestwood Permian equity investments. We amortize the excess basis in our equity investments as an increase in our earnings from unconsolidated affiliates. We recorded amortization of the excess basis in our Jackalope equity investment of less than $0.1 million for both the three months ended March 31, 2017 and 2016. We recorded amortization of the excess basis in our Tres Holdings equity investment of approximately $0.3 million for both the three months ended March 31, 2017 and 2016. We recorded amortization of the excess basis in our PRBIC equity investment of approximately $0.2 million and $0.4 million for the three months ended March 31, 2017 and 2016. Distributions and Contributions Distributions Contributions Three Months Ended March 31, Three Months Ended 2017 2016 2017 2016 Stagecoach Gas (1) $ 12.1 $ — $ — $ — Jackalope 5.9 5.1 0.1 — Tres Holdings (1) — — — 5.5 PRBIC 0.3 0.6 — — Crestwood Permian — — — — Total $ 18.3 $ 5.7 $ 0.1 $ 5.5 (1) In May 2017, we received a cash distribution from Stagecoach Gas and Tres Holdings of approximately $11.7 million and $2.7 million, respectively. | Note 6 – Investments in Unconsolidated Affiliates Net Investments and Earnings (Loss) Our net investments in and earnings (loss) from our unconsolidated affiliates are as follows ( in millions, unless otherwise stated): Ownership Investment Earnings (Loss) from December 31, December 31, Year Ended December 31, 2016 2016 2015 2016 2015 2014 Stagecoach Gas Services LLC 50.00 % $ 871.0 $ — $ 15.9 $ — $ — Jackalope Gas Gathering Services, L.L.C. 50.00 % (1) 197.2 202.4 20.8 (43.4 ) (3) 0.5 Tres Palacios Holdings LLC 50.01 % 39.0 36.8 (0.3 ) 2.5 0.2 Powder River Basin Industrial Complex, LLC (2) 50.01 % 8.7 15.1 (4.4 ) (3) (19.9 ) (3) (1.4 ) Crestwood Permian Basin Holdings LLC 50.00 % (0.5 ) — (0.5 ) — — Total $ 1,115.4 $ 254.3 $ 31.5 $ (60.8 ) $ (0.7 ) (1) Excludes non-controlling non-controlling (2) During the year ended December 31, 2015, we recorded additional equity earnings of approximately $3.2 million related to a gain associated with the adjustment of our member’s capital account by our equity investee. (3) During the year ended December 31, 2015, we recorded impairments of our PRBIC and Jackalope equity investments of approximately $23.4 million and $51.4 million. For a further discussion of these impairments, see Note 2. During the year ended December 31, 2016, we recorded a reduction of our equity earnings from PRBIC of approximately $5.8 million related to impairments recorded by our equity investee. Summarized Financial Information of Unconsolidated Affiliates Below is summarized financial information for our significant unconsolidated affiliates ( in millions; amounts represent 100% of unconsolidated affiliate information Financial Position Data December 31, 2016 2015 Current Non-Current Current Non-Current Members’ Current Non-Current Current Non-Current Members’ Stagecoach (1) $ 57.0 $ 1,807.6 $ 6.0 $ 4.1 $ 1,854.5 $ — $ — $ — $ — $ — Other (2) 45.7 640.6 19.5 73.3 593.5 34.3 677.8 20.9 75.7 615.5 Total $ 102.7 $ 2,448.2 $ 25.5 $ 77.4 $ 2,448.0 $ 34.3 $ 677.8 $ 20.9 $ 75.7 $ 615.5 (1) As of December 31, 2016, our equity in the underlying net assets of Stagecoach Gas exceeded our investment balance by approximately $51.4 million. This excess amount is entirely attributable to goodwill and, as such, is not subject to amortization. Our Stagecoach Gas investment is included in our storage and transportation segment. (2) Includes our Jackalope, Tres Holdings LLC (Tres Holdings), PRBIC and Crestwood Permian Basin Holdings (Crestwood Permian) investments. As of December 31, 2016, our equity in the underlying net assets of Jackalope, Tres Holdings and PRBIC exceeded our investment balance by approximately $0.8 million, $27.8 million and $15.3 million, respectively. As of December 31, 2016, our investment balance in Crestwood Permian approximated our equity in the underlying net assets. Our Tres Holdings and PRBIC investments are included in our storage and transportation segment and our Crestwood Permian investment is included in our gathering and processing segment. Operating Results Data For the Years Ended December 31, 2016 2015 2014 Operating Operating Net Income Operating Operating Net Income Operating Operating Net Income Stagecoach $ 99.3 $ 44.1 $ 55.3 $ — $ — $ — $ — $ — $ — Other (1) 116.1 103.9 12.0 104.7 79.5 24.9 35.6 30.4 5.2 Total $ 215.4 $ 148.0 $ 67.3 $ 104.7 $ 79.5 $ 24.9 $ 35.6 $ 30.4 $ 5.2 (1) Includes our Jackalope, Tres Holdings, PRBIC and Crestwood Permian investments. We recorded amortization of our Jackalope excess basis of less than $0.1 million, $3.0 million and $3.1 million for the years ended December 31, 2016, 2015 and 2014, which we amortize over 20 years, which represents the life of Jackalope’s gathering agreement with Chesapeake Energy Corporation (Chesapeake). We recorded amortization of our Tres Holdings excess basis of $1.3 million for both the years ended December 31, 2016 and 2015, which we amortize over the life of Tres Palacios Gas Storage LLC’s (Tres Palacios) sublease agreement. We recorded amortization of our PRBIC excess basis of approximately $1.6 million for the year ended December 31, 2016, which we amortize over the life of PRBIC’s property, plant and equipment and its agreement with Chesapeake. We reflect the amortization of our excess basis as an increase in earnings from our consolidated affiliates. Description of Investments Stagecoach Gas Services LLC On June 3, 2016, Crestwood Northeast and CEGP formed Stagecoach Gas to own and further develop our NE S&T assets. During 2016, we contributed to the joint venture the entities owning the NE S&T assets, CEGP contributed to the joint venture $975 million in exchange for a 50% equity interest in Stagecoach Gas, and Stagecoach Gas distributed to us the net cash proceeds received from CEGP. We deconsolidated the NE S&T assets as a result of the contribution of these assets to Stagecoach Gas as described above and began accounting for our 50% equity interest in Stagecoach Gas under the equity method of accounting. We reflected our investment in Stagecoach Gas at $871.1 million, which represented the fair value of our proportionate share of the contributed assets based on the forecasted discounted cash flows of the investment (which is a Level 3 fair value measurement). We recognized a loss of approximately $32.4 million on the deconsolidation of the NE S&T assets. Jackalope Gas Gathering Services, L.L.C. Crestwood Niobrara LLC (Crestwood Niobrara), our consolidated subsidiary, owns a 50% ownership interest in Jackalope and Williams Partners LP operates and owns the remaining 50% interest in Jackalope. Crestwood Niobrara manages the commercial operations of the Jackalope system. Tres Palacios Holdings LLC In December 2014, CEQP sold its 100% interest in Tres Palacios to Tres Holdings, a newly formed joint venture between Crestwood Midstream’s consolidated subsidiary and an affiliate of Brookfield, for total cash consideration of approximately $132.8 million, of which $66.4 million was paid by Crestwood Midstream. As a result of this transaction, effective December 1, 2014, CEQP deconsolidated the operations of Tres Palacios. Crestwood Midstream owns 50.01% of Tres Holdings and is the operator of Tres Palacios and its assets. Brookfield owns the remaining 49.99% interest in Tres Holdings. We account for our investment in Tres Holdings under the equity method of accounting. The sale of CEQP’s 100% interest in Tres Palacios was accounted for under the accounting standards related to in substance real estate transactions. The accounting for the sale of real estate results in the recognition of a gain to the extent the sale is to an independent buyer. Since CEQP retained 50.01% of its interest in Tres Palacios through its ownership in Crestwood Midstream, CEQP recognized only the portion of the gain related to sale to Brookfield of approximately $30.6 million and, as a result, no gain was recognized on the portion of the sale between Crestwood Midstream and CEQP. The sale of CEQP’s interest in Tres Palacios to Crestwood Midstream was considered a transaction between entities under common control and, as a result, Crestwood Midstream reflected its investment at approximately $35.8 million, which represented 50.01% of CEQP’s historical basis in Tres Palacios. Powder River Basin Industrial Complex, LLC Crestwood Crude Logistics LLC (Crude Logistics), our consolidated subsidiary, owns a 50% ownership interest in PRBIC which we account for under the equity method of accounting. Twin Eagle Powder River Basin, LLC owns the remaining 50% ownership interest in PRBIC. Crestwood Permian Basin Holdings LLC In October 2016, Crestwood Infrastructure, our wholly-owned subsidiary, and an affiliate of First Reserve formed a joint venture, Crestwood Permian, to fund and own the Nautilus gathering system (described below) and other potential investments in the Delaware Permian. As part of this transaction, we transferred to the joint venture 100% of the equity interest of the Crestwood entity that will construct and own the Nautilus gathering system. We manage and we account for our 50% ownership interest in Crestwood Permian, which is a VIE, under the equity method of accounting as we exercise significant influence, but do not control Crestwood Permian and we are not its primary beneficiary due to First Reserve’s rights to exercise control over the entity. Crestwood Permian has a long-term agreement with SWEPI LP (SWEPI), a subsidiary of Royal Dutch Shell plc, to construct, own and operate a natural gas gathering system in SWEPI’s operated position in the Delaware Permian. SWEPI has dedicated to Crestwood Permian approximately 100,000 acres and gathering rights for SWEPI’s gas production across a large acreage position in Loving, Reeves and Ward Counties, Texas. The initial gathering system (the Nautilus gathering system) is designed for gas production of approximately 250 MMcf/d and will include 194 miles of low pressure gathering lines, 36 miles of high pressure trunklines, and centralized compression facilities which are expandable over time as production increases. Crestwood Permian will provide gathering, dehydration, compression and liquids handling services on a fixed fee basis. In conjunction with this growth project, we granted SWEPI an option to purchase up to a 50% equity interest in Crestwood Permian’s wholly-owned subsidiary, Crestwood Permian Basin LLC, that will own the Nautilus gathering system. The purchase option expires on September 1, 2017. Under the joint venture, First Reserve will fund up to $37.5 million of the capital requirements during the early-stage build-out in-service CEQP issued a guarantee in conjunction with the Crestwood Permian gas gathering agreement with SWEPI described above, under which CEQP has agreed to fund 100% of the costs to build the Nautilus gathering system (which is currently estimated to cost approximately $180 million) if Crestwood Permian fails to do so. We do not believe this guarantee is probable of resulting in future losses based on our assessment of the nature of the guarantee, the financial condition of the guaranteed party and the period of time that the guarantee has been outstanding, and as a result, we have not recorded a liability on our balance sheet at December 31, 2016. Distributions and Contributions Stagecoach Gas. Jackalope. During the years ended December 31, 2016, 2015 and 2014, we contributed approximately $1.4 million, $25.4 million and $105.2 million to Jackalope. Tres Holdings. PRBIC. Crestwood Permian . |
Risk Management
Risk Management | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Risk Management Notional Amounts And Terms Of Companys Derivative Financial Instruments [Abstract] | ||
Risk Management | Note 5 – Risk Management We are exposed to certain market risks related to our ongoing business operations. These risks include exposure to changing commodity prices. We utilize derivative instruments to manage our exposure to fluctuations in commodity prices, which is discussed below. Additional information related to our derivatives is discussed in Note 6. Commodity Derivative Instruments and Price Risk Management Risk Management Activities We sell NGLs and crude oil to energy related businesses and may use a variety of financial and other instruments including forward contracts involving physical delivery of NGLs, heating oil and crude oil. We periodically enter into offsetting positions to economically hedge against the exposure our customer contracts create. Certain of these contracts and positions are derivative instruments. We do not designate any of our commodity-based derivatives as hedging instruments for accounting purposes. Our commodity-based derivatives are reflected at fair value in the consolidated balance sheets, and changes in the fair value of these derivatives that impact the consolidated statements of operations are reflected in costs of product/services sold. During the three months ended March 31, 2017 and 2016, the impact to our consolidated statements of operations related to our commodity-based derivatives reflected in costs of product/services sold was a loss of $5.4 million and a gain of $1.2 million. We attempt to balance our contractual portfolio in terms of notional amounts and timing of performance and delivery obligations. This balance in the contractual portfolio significantly reduces the volatility in costs of product/services sold related to these instruments. Commodity Price and Credit Risk Notional Amounts and Terms The notional amounts and terms of our derivative financial instruments include the following at March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 Fixed Price Payor Fixed Price Receiver Fixed Price Payor Fixed Price Receiver Propane, crude and heating oil (MMBbls) 12.8 14.0 13.1 15.1 Notional amounts reflect the volume of transactions, but do not represent the amounts exchanged by the parties to the financial instruments. Accordingly, notional amounts do not reflect our monetary exposure to market or credit risks. All contracts subject to price risk had a maturity of 36 months or less; however, 81% of the contracted volumes will be delivered or settled within 12 months. Credit Risk Inherent in our contractual portfolio are certain credit risks. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. We take an active role in managing credit risk and have established control procedures, which are reviewed on an ongoing basis. We attempt to minimize credit risk exposure through credit policies and periodic monitoring procedures as well as through customer deposits, letters of credit and entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate. The counterparties associated with our price risk management activities are primarily energy marketers and propane retailers, resellers and dealers. Certain of our derivative instruments have credit limits that require us to post collateral. The amount of collateral required to be posted is a function of the net liability position of the derivative as well as our established credit limit with the respective counterparty. If our credit rating were to change, the counterparties could require us to post additional collateral. The amount of additional collateral that would be required to be posted would vary depending on the extent of change in our credit rating as well as the requirements of the individual counterparty. The aggregate fair value of all commodity derivative instruments with credit-risk-related contingent features that were in a liability position at March 31, 2017 and December 31, 2016 was $4.8 million and $13.9 million. At March 31, 2017 and December 31, 2016, we posted less than $0.1 million of collateral for our commodity derivative instruments with credit-risk-related contingent features. In addition, at March 31, 2017 and December 31, 2016, we had a New York Mercantile Exchange (NYMEX) related net derivative asset position of $4.6 million and $14.3 million, for which we posted $0.9 million and $4.2 million of cash collateral in the normal course of business. At March 31, 2017 and December 31, 2016, we also received collateral of $2.0 million and $4.3 million in the normal course of business. All collateral amounts have been netted against the asset or liability with the respective counterparty and are reflected in our consolidated balance sheets as assets and liabilities from price risk management activities. | Note 7 – Risk Management We are exposed to certain market risks related to our ongoing business operations. These risks include exposure to changing commodity prices. We utilize derivative instruments to manage our exposure to fluctuations in commodity prices, which is discussed below. Additional information related to our derivatives is discussed in Note 2 and Note 8. Commodity Derivative Instruments and Price Risk Management Risk Management Activities We sell NGLs and crude oil to energy related businesses and may use a variety of financial and other instruments including forward contracts involving physical delivery of NGLs, heating oil and crude oil. We periodically enter into offsetting positions to economically hedge against the exposure our customer contracts create. Certain of these contracts and positions are derivative instruments. We do not designate any of our commodity-based derivatives as hedging instruments for accounting purposes. Our commodity-based derivatives are reflected at fair value in the consolidated balance sheets, and changes in the fair value of these derivatives that impact the consolidated statements of operations are reflected in costs of product/services sold. During the years ended December 31, 2016, 2015 and 2014, the impact to the statement of operations related to our commodity-based derivatives reflected in costs of product/services sold was a loss of $7.8 million, a gain of $18.9 million and a gain of $51.2 million, respectively. We attempt to balance our contractual portfolio in terms of notional amounts and timing of performance and delivery obligations. This balance in the contractual portfolio significantly reduces the volatility in costs of product/services sold related to these instruments. Commodity Price and Credit Risk Notional Amounts and Terms The notional amounts and terms of our derivative financial instruments include the following at December 31, 2016 and 2015: December 31, 2016 December 31, 2015 Fixed Price Payor Fixed Price Receiver Fixed Price Payor Fixed Price Receiver Propane, crude and heating oil (MMBbls) 13.1 15.1 9.1 10.9 Notional amounts reflect the volume of transactions, but do not represent the amounts exchanged by the parties to the financial instruments. Accordingly, notional amounts do not reflect our monetary exposure to market or credit risks. All contracts subject to price risk had a maturity of 28 months or less; however, 81% of the contracted volumes will be delivered or settled within 12 months. Credit Risk Inherent in our contractual portfolio are certain credit risks. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. We take an active role in managing credit risk and have established control procedures, which are reviewed on an ongoing basis. We attempt to minimize credit risk exposure through credit policies and periodic monitoring procedures as well as through customer deposits, letters of credit and entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate. The counterparties associated with our assets from price risk management activities are energy marketers and propane retailers, resellers and dealers. Certain of our derivative instruments have credit limits that require us to post collateral. The amount of collateral required to be posted is a function of the net liability position of the derivative as well as our established credit limit with the respective counterparty. If our credit rating were to change, the counterparties could require us to post additional collateral. The amount of additional collateral that would be required to be posted would vary depending on the extent of change in our credit rating as well as the requirements of the individual counterparty. The aggregate fair value of all commodity derivative instruments with credit-risk-related contingent features that were in a liability position at December 31, 2016 and 2015, was $13.9 million and $3.3 million. At December 31, 2016 and 2015, we posted less than $0.1 million of collateral for our commodity derivative instruments with credit-risk-related contingent features. In addition, at December 31, 2016 and 2015, we had a New York Mercantile Exchange (NYMEX) related net derivative asset position of $14.3 million and a NYMEX related net liability position of $20.8 million, for which we posted $4.2 million and $26.7 million of cash collateral in the normal course of business. At December 31, 2016 and 2015, we also received collateral of $4.3 million and $16.8 million in the normal course of business. All collateral amounts have been netted against the asset or liability with the respective counterparty and are reflected in our consolidated balance sheets as assets and liabilities from price risk management activities. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | ||
Fair Value Measurements | Note 6 – Fair Value Measurements The accounting standard for fair value measurement establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: • Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, listed equities and US government treasury securities. • Level 2—Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category include non-exchange-traded • Level 3—Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Cash, Accounts Receivable and Accounts Payable As of March 31, 2017 and December 31, 2016, the carrying amounts of cash, accounts receivable and accounts payable approximate fair value based on the short-term nature of these instruments. Credit Facility The fair value of the amounts outstanding under our CMLP credit facility approximates the carrying amounts as of March 31, 2017 and December 31, 2016, due primarily to the variable nature of the interest rate of the instrument, which is considered a Level 2 fair value measurement. Senior Notes We estimate the fair value of our senior notes primarily based on quoted market prices for the same or similar issuances (representing a Level 2 fair value measurement). The following table reflects the carrying value (reduced for deferred financing costs associated with the respective notes) and fair value of our senior notes ( in millions March 31, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value 2020 Senior Notes $ 13.9 $ 14.2 $ 340.6 $ 350.2 2022 Senior Notes $ — $ — $ 429.3 $ 447.3 2023 Senior Notes $ 691.0 $ 728.6 $ 690.6 $ 722.6 2025 Senior Notes $ 491.6 $ 511.3 $ — $ — Financial Assets and Liabilities As of March 31, 2017 and December 31, 2016, we held certain assets and liabilities that are required to be measured at fair value on a recurring basis, which include our derivative instruments related to heating oil, crude oil, and NGLs. Our derivative instruments consist of forwards, swaps, futures, physical exchanges and options. Our derivative instruments that are traded on the NYMEX have been categorized as Level 1. Our derivative instruments also include OTC contracts, which are not traded on a public exchange. The fair values of these derivative instruments are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. These instruments have been categorized as Level 2. Our OTC options are valued based on the Black Scholes option pricing model that considers time value and volatility of the underlying commodity. The inputs utilized in the model are based on publicly available information as well as broker quotes. These options have been categorized as Level 2. Our financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The following tables set forth by level within the fair value hierarchy, our financial instruments that were accounted for at fair value on a recurring basis at March 31, 2017 and December 31, 2016 ( in millions March 31, 2017 Fair Value of Derivatives Level 1 Level 2 Level 3 Gross Contract (1) Collateral/Margin Recorded Assets Assets from price risk management $ 1.3 $ 39.9 $ — $ 41.2 $ (34.3 ) $ (0.2 ) $ 6.7 Suburban Propane Partners, L.P. units (2) 3.9 — — 3.9 — — 3.9 Total assets at fair value $ 5.2 $ 39.9 $ — $ 45.1 $ (34.3 ) $ (0.2 ) $ 10.6 Liabilities Liabilities from price risk management $ 1.5 $ 41.3 $ — $ 42.8 $ (34.3 ) $ 0.9 $ 9.4 Total liabilities at fair value $ 1.5 $ 41.3 $ — $ 42.8 $ (34.3 ) $ 0.9 $ 9.4 December 31, 2016 Fair Value of Derivatives Level 1 Level 2 Level 3 Gross Fair Value Contract (1) Collateral/Margin Recorded Assets Assets from price risk management $ 0.6 $ 84.4 $ — $ 85.0 $ (67.8 ) $ (10.9 ) $ 6.3 Suburban Propane Partners, L.P. units (2) 4.3 — — 4.3 — — 4.3 Total assets at fair value $ 4.9 $ 84.4 $ — $ 89.3 $ (67.8 ) $ (10.9 ) $ 10.6 Liabilities Liabilities from price risk management $ 2.7 $ 90.2 $ — $ 92.9 $ (67.8 ) $ 3.5 $ 28.6 Total liabilities at fair value $ 2.7 $ 90.2 $ — $ 92.9 $ (67.8 ) $ 3.5 $ 28.6 (1) Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions as well as cash collateral held or placed with the same counterparties. (2) Amount is reflected in other assets on CEQP’s consolidated balance sheets. | Note 8 – Fair Value Measurements The accounting standard for fair value measurement establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: • Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, listed equities and US government treasury securities. • Level 2—Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category include non-exchange-traded • Level 3—Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Cash, Accounts Receivable and Accounts Payable As of December 31, 2016 and 2015, the carrying amounts of cash, accounts receivable and accounts payable represent fair value based on the short-term nature of these instruments. Credit Facility The fair value of the amounts outstanding under our CMLP credit facility approximates its carrying amounts as of December 31, 2016 and 2015, due primarily to the variable nature of the interest rate of the instrument, which is considered a Level 2 fair value measurement. Senior Notes We estimate the fair value of our senior notes primarily based on quoted market prices for the same or similar issuances (representing a Level 2 fair value measurement). The following table reflects the carrying value (reduced for deferred financing costs associated with the respective notes) and fair value of our CMLP senior notes ( in millions December 31, 2016 December 31, 2015 Carrying Fair Value Carrying Fair Crestwood Midstream 2020 Senior Notes $ 340.6 $ 350.2 $ 503.3 $ 382.3 Crestwood Midstream 2022 Senior Notes $ 429.3 $ 447.3 $ 588.4 $ 437.4 Crestwood Midstream 2023 Senior Notes $ 690.6 $ 722.6 $ 689.4 $ 491.8 Financial Assets and Liabilities As of December 31, 2016 and 2015, we held certain assets and liabilities that are required to be measured at fair value on a recurring basis, which include our derivative instruments related to heating oil, crude oil, and NGLs. Our derivative instruments consist of forwards, swaps, futures, physical exchanges and options. Our derivative instruments that are traded on the NYMEX have been categorized as Level 1. Our derivative instruments also include OTC contracts, which are not traded on a public exchange. The fair values of these derivative instruments are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. These instruments have been categorized as Level 2. Our OTC options are valued based on the Black Scholes option pricing model that considers time value and volatility of the underlying commodity. The inputs utilized in the model are based on publicly available information as well as broker quotes. These options have been categorized as Level 2. Our financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The following tables set forth by level within the fair value hierarchy, our financial instruments that were accounted for at fair value on a recurring basis at December 31, 2016 and 2015 ( in millions December 31, 2016 Fair Value of Derivatives Level 1 Level 2 Level 3 Gross Contract (1) Collateral/Margin Recorded Assets Assets from price risk management $ 0.6 $ 84.4 $ — $ 85.0 $ (67.8 ) $ (10.9 ) $ 6.3 Suburban Propane Partners, L.P. units (2) 4.3 — — 4.3 — — 4.3 Total assets at fair value $ 4.9 $ 84.4 $ — $ 89.3 $ (67.8 ) $ (10.9 ) $ 10.6 Liabilities Liabilities from price risk management $ 2.7 $ 90.2 $ — $ 92.9 $ (67.8 ) $ 3.5 $ 28.6 Total liabilities at fair value $ 2.7 $ 90.2 $ — $ 92.9 $ (67.8 ) $ 3.5 $ 28.6 December 31, 2015 Fair Value of Derivatives Level 1 Level 2 Level 3 Gross Contract (1) Collateral/Margin Recorded Assets Assets from price risk management $ 0.5 $ 57.8 $ — $ 58.3 $ (13.7 ) $ (12.0 ) $ 32.6 Suburban Propane Partners, L.P. units (2) 3.4 — — 3.4 — — 3.4 Total assets at fair value $ 3.9 $ 57.8 $ — $ 61.7 $ (13.7 ) $ (12.0 ) $ 36.0 Liabilities Liabilities from price risk management $ 0.2 $ 41.3 $ — $ 41.5 $ (13.7 ) $ (20.4 ) $ 7.4 Total liabilities at fair value $ 0.2 $ 41.3 $ — $ 41.5 $ (13.7 ) $ (20.4 ) $ 7.4 (1) Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions as well as cash collateral held or placed with the same counterparties. (2) Amount is reflected in other assets on CEQP’s consolidated balance sheets. |
Long-Term Debt
Long-Term Debt | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Debt Disclosure [Abstract] | ||
Long-Term Debt | Note 7 – Long-Term Debt Long-term debt consisted of the following at March 31, 2017 and December 31, 2016 ( in millions March 31, December 31, Credit Facility $ 381.7 $ 77.0 2020 Senior Notes 13.8 338.8 Fair value adjustment of 2020 Senior Notes 0.1 1.8 2022 Senior Notes — 436.4 2023 Senior Notes 700.0 700.0 2025 Senior Notes 500.0 — Other 3.3 3.7 Less: deferred financing costs, net 33.8 34.0 Total debt 1,565.1 1,523.7 Less: current portion 14.8 1.0 Total long-term debt, less current portion $ 1,550.3 $ 1,522.7 Credit Facility At March 31, 2017, Crestwood Midstream had $644.4 million of available capacity under its credit facility considering the most restrictive debt covenants in its credit agreement. At March 31, 2017 and December 31, 2016, Crestwood Midstream’s outstanding standby letters of credit were $70.8 million and $64.0 million. Borrowings under the CMLP credit facility accrue interest at prime or Eurodollar based rates plus applicable spreads, which resulted in interest rates between 3.15% and 5.25% at March 31, 2017 and 3.21% and 5.25% at December 31, 2016. The weighted-average interest rate as of March 31, 2017 and December 31, 2016 was 3.36% and 3.23%. Crestwood Midstream is required under its credit agreement to maintain a net debt to consolidated EBITDA ratio (as defined in its credit agreement) of not more than 5.50 to 1.0, a consolidated EBITDA to consolidated interest expense ratio (as defined in its credit agreement) of not less than 2.50 to 1.0, and a senior secured leverage ratio (as defined in its credit agreement) of not more than 3.75 to 1.0. At March 31, 2017, the net debt to consolidated EBITDA was approximately 3.92 to 1.0, the consolidated EBITDA to consolidated interest expense was approximately 3.90 to 1.0, and the senior secured leverage ratio was 0.94 to 1.0. The CMLP credit facility allows Crestwood Midstream to increase its available borrowings under the facility by $350.0 million, subject to lender approval and the satisfaction of certain other conditions, as described in the CMLP credit agreement. In March 2017, Crestwood Midstream obtained the lender consent necessary under its credit agreement to borrow up to $325 million to fund the repurchase or redemption of senior notes outstanding. Senior Notes Repayments . In March 2017, Crestwood Midstream delivered the irrevocable notice necessary to redeem the remaining $13.8 million of principal outstanding under the 2020 Senior Notes. In April 2017, Crestwood Midstream paid approximately $14.2 million to redeem the remaining 2020 Senior Notes and recognized a loss on extinguishment of debt associated with the 2020 Senior Notes of approximately $0.3 million. Crestwood Midstream funded the repayment with borrowings under its credit facility. 2025 Senior Notes At March 31, 2017, Crestwood Midstream was in compliance with all of its debt covenants applicable to the CMLP credit facility and its senior notes. | Note 9 – Long-Term Debt Long-term debt consisted of the following at December 31, 2016 and 2015, ( in millions December 31, 2016 December 31, 2015 Credit Facility $ 77.0 $ 735.0 2020 Senior Notes 338.8 500.0 Fair value adjustment of 2020 Senior Notes 1.8 3.3 2022 Senior Notes 436.4 600.0 2023 Senior Notes 700.0 700.0 Other 3.7 5.3 Less: deferred financing costs, net 34.0 40.9 Total Crestwood Midstream debt 1,523.7 2,502.7 Other — 0.2 Total Crestwood Equity debt 1,523.7 2,502.9 Less: current portion 1.0 1.1 Total long-term debt, less current portion $ 1,522.7 $ 2,501.8 Credit Facility Crestwood Midstream’s amended and restated senior secured credit agreement (the CMLP Credit Agreement) provides for a five-year $1.5 billion revolving credit facility (the CMLP Credit Facility), which expires in September 2020 and is available to fund acquisitions, working capital and internal growth projects and for general partnership purposes. The CMLP Credit Facility allows Crestwood Midstream to increase its available borrowings under the facility by $350.0 million, subject to lender approval and the satisfaction of certain other conditions, as described in the CMLP Credit Agreement. The CMLP Credit Facility also includes a sub-limit same-day sub-limit In conjunction with the contribution agreement with CEGP, Crestwood Midstream amended its credit facility in June 2016 to, among other things, (i) facilitate the closing of the joint venture and make investments in the joint venture thereafter, and (ii) implement its liability management plan with the net cash proceeds received from Stagecoach Gas, including the repurchase of Crestwood Midstream’s senior notes with the borrowings under its credit facility. Prior to amending and restating its credit agreement in September 2015, Crestwood Midstream had a five-year $1.0 billion senior secured revolving credit facility, which would have expired October 2018. In conjunction with the closing of the Simplification Merger, Crestwood Midstream borrowed approximately $720.0 million under the CMLP Credit Facility on September 30, 2015 to (i) repay all borrowings outstanding under the $1.0 billion credit facility, (ii) fund a distribution to the Company of approximately $378.3 million for purposes of repaying (or, if applicable, satisfying and discharging) substantially all of the Company’s outstanding indebtedness as discussed above, and (iii) pay merger-related fees and expenses. We recognized a loss on extinguishment of debt of approximately $1.8 million in conjunction with amending and restating the CMLP Credit Agreement. Borrowings under the CMLP Credit Facility (other than the swing line loans) bear interest at either: • the Alternate Base Rate, which is defined as the highest of (i) the federal funds rate plus 0.50%; (ii) Wells Fargo Bank’s prime rate; or (iii) the Eurodollar Rate adjusted for certain reserve requirements plus 1%; plus a margin varying from 0.75% to 1.75% depending on Crestwood Midstream’s most recent consolidated total leverage ratio; or • the Eurodollar Rate, adjusted for certain reserve requirements plus a margin varying from 1.75% to 2.75% depending on Crestwood Midstream’s most recent consolidated total leverage ratio. Swing line loans bear interest at the Alternate Base Rate as described above. The unused portion of the CMLP Credit Facility is subject to a commitment fee ranging from 0.30% to 0.50% according to its most recent consolidated total leverage ratio. Interest on the Alternate Base Rate loans is payable quarterly, or if the adjusted Eurodollar Rate applies, interest is payable at certain intervals selected by Crestwood Midstream. At December 31, 2016, Crestwood Midstream had $734.4 million of available capacity under its credit facility considering the most restrictive covenants in its credit agreement. At December 31, 2016 and 2015, Crestwood Midstream’s outstanding standby letters of credit were $64.0 million and $62.2 million. Interest rates under the CMLP Credit Facility were between 3.21% and 5.25% at December 31, 2016 and 2.70% and 5.00% at December 31, 2015. The weighted-average interest rate on outstanding borrowings as of December 31, 2016 and 2015 was 3.23% and 2.70%. The CMLP Credit Facility contains various covenants and restrictive provisions that limit our ability to, among other things, (i) incur additional debt; (ii) make distributions on or redeem or repurchase units; (iii) make certain investments and acquisitions; (iv) incur or permit certain liens to exist; (v) merge, consolidate or amalgamate with another company; (vi) transfer or dispose of assets; and (vii) incur a change in control at either Crestwood Equity or Crestwood Midstream, including an acquisition of Crestwood Holdings’ ownership of Crestwood Equity’s general partner by any third party, including Crestwood Holdings’ debtors under an event of default of their debt since Crestwood Equity’s non-economic Crestwood Midstream is required under its credit agreement to maintain a net debt to consolidated EBITDA ratio (as defined in its credit agreement) of not more than 5.50 to 1.0, a consolidated EBITDA to consolidated interest expense ratio (as defined in its credit agreement) of not less than 2.50 to 1.0, and a senior secured leverage ratio (as defined in its credit agreement) of not more than 3.75 to 1.0. At December 31, 2016, the net debt to consolidated EBITDA was approximately 3.74 to 1.0, the consolidated EBITDA to consolidated interest expense was approximately 3.92 to 1.0, and the senior secured leverage ratio was 0.18 to 1.0. If Crestwood Midstream fails to perform its obligations under these and other covenants, the lenders’ credit commitment could be terminated and any outstanding borrowings, together with accrued interest, under the CMLP Credit Facility could be declared immediately due and payable. The CMLP Credit Facility also has cross default provisions that apply to any of its other material indebtedness. Senior Notes 2020 Senior Notes 2022 Senior Notes 2023 Senior Notes In March 2016, Crestwood Midstream filed a registration statement with the SEC under which it offered to exchange the 2023 Senior Notes for any and all outstanding 2023 Senior Notes. Crestwood Midstream completed the exchange offer in July 2016. The terms of the exchange notes are substantially identical to the terms of the 2023 Senior Notes, except that the exchange notes are freely tradable. In general, each series of Crestwood Midstream’s senior notes are fully and unconditionally guaranteed, joint and severally, on a senior unsecured basis by Crestwood Midstream’s domestic restricted subsidiaries (other than Finance Corp., which has no assets). The indentures contain customary release provisions, such as (i) disposition of all or substantially all the assets of, or the capital stock of, a guarantor subsidiary to a third person if the disposition complies with the indentures; (ii) designation of a guarantor subsidiary as an unrestricted subsidiary in accordance with its indentures; (iii) legal or covenant defeasance of a series of senior notes, or satisfaction and discharge of the related indenture; and (iv) guarantor subsidiary ceases to guarantee any other indebtedness of Crestwood Midstream or any other guarantor subsidiary, provided it no longer guarantees indebtedness under the Crestwood Midstream Revolver. The indentures restricts the ability of Crestwood Midstream and its restricted subsidiaries to, among other things, sell assets; redeem or repurchase subordinated debt; make investments; incur or guarantee additional indebtedness or issue preferred units; create or incur certain liens; enter into agreements that restrict distributions or other payments to Crestwood Midstream from its restricted subsidiaries; consolidate, merge or transfer all or substantially all of their assets; engage in affiliate transactions; create unrestricted subsidiaries; and incur a change in control at either Crestwood Equity or Crestwood Midstream, including an acquisition of Crestwood Holdings’ ownership of Crestwood Equity’s general partner by any third party including Crestwood Holdings’ debtors under an event of default of their debt since Crestwood Equity’s non-economic At December 31, 2016, Crestwood Midstream was in compliance with the debt covenants and restrictions in each of its credit agreements discussed above. Crestwood Midstream’s Credit Facility and its respective senior notes are secured by its assets and liabilities of the guarantor subsidiaries. Accordingly, such assets are only available to the creditors of Crestwood Midstream. Crestwood Equity had restricted net assets of approximately $2,550.7 million as of December 31, 2016. Repayments. In April 2015, we retired our $350 million 7.75% Senior Notes due 2019 for approximately $364.1 million, including accrued interest of $0.5 million and a call premium of $13.6 million. In conjunction with the redemption of these notes, we recorded a loss on extinguishment of debt of approximately $17.1 million. Notes Payable and Other Obligations CEQP’s non-interest non-interest CMLP’s non-interest Non-interest Maturities The aggregate maturities of principal amounts on our outstanding long-term debt and other notes payable as of December 31, 2016 for the next five years and in total thereafter are as follows ( in millions 2017 $ 1.0 2018 0.9 2019 1.0 2020 417.8 2021 0.3 Thereafter 1,136.7 Total debt $ 1,557.7 Residual Value Guarantee In 2012, Crestwood Equity entered into a support agreement with Suburban Propane Partners, L.P. (SPH) pursuant to which Crestwood Equity is obligated to provide contingent, residual support of approximately $497 million of aggregate principal amount of the 7.5% senior unsecured notes due 2018 of SPH and Suburban Energy Finance Corp. (collectively, the SPH Issuers) or any permitted refinancing thereof. Under the support agreement, in the event the SPH Issuers fail to pay any principal amount of the supported debt when due, Crestwood Equity will pay the holders of the supported debt, or the SPH Issuers for the benefit of the holders of the supported debt, an amount up to the principal amount of the supported debt that the SPH Issuers have failed to pay. Crestwood Equity has no obligation to make a payment under the support agreement with respect to any accrued and unpaid interest or any redemption premium or other costs, fees, expenses, penalties, charges or other amounts of any kind that shall be due to the noteholders by the SPH Issuers, whether on or related to the supported debt or otherwise. The support agreement terminates on the earlier of the date the supported debt is extinguished or on the maturity date of supported debt or any permitted refinancing thereof. We believe the probability of any future payment on this residual value guarantee is remote. |
Earnings Per Limited Partner Un
Earnings Per Limited Partner Unit | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Earnings Per Limited Partner Unit | Note 8 – Earnings Per Limited Partner Unit Our net income (loss) attributable to Crestwood Equity Partners is allocated to the subordinated and limited partner unitholders based on their ownership percentage after giving effect to net income attributable to the Class A preferred units. We calculate basic net income per limited partner unit using the two-class We exclude potentially dilutive securities from the determination of diluted earnings per unit (as well as their related income statement impacts) when their impact on net income attributable to Crestwood Equity Partners per limited partner unit is anti-dilutive. During the three months ended March 31, 2017, we excluded a weighted-average of 6,807,223 common units (representing preferred units), a weighted-average of 7,117,610 common units (representing Crestwood Niobrara’s preferred units), and a weighted-average of 438,789 common units (representing subordinated units). During the three months ended March 31, 2016, we excluded a weighted-average of 6,212,256 common units (representing preferred units), and a weighted-average of 19,262,780 common units (representing Crestwood Niobrara’s preferred units) and a weighted-average of 438,789 common units (representing subordinated units). See Note 9 for additional information regarding the potential conversion of our preferred units and Crestwood Niobrara’s preferred units to common units. | Note 10 – Earnings Per Limited Partner Unit CEQP Reverse Split 1-for-10 1-for-10 Our net income (loss) attributable to Crestwood Equity is allocated to the subordinated and limited partner unitholders based on their ownership percentage after giving effect to net income attributable to the preferred units. We calculate basic net income per limited partner unit using the two-class We exclude potentially dilutive securities from the determination of diluted earnings per unit (as well as their related income statement impacts) when their impact on net income attributable to Crestwood Equity per limited partner unit is anti-dilutive. During the years ended December 31, 2016 and 2015, we excluded a weighted-average of 6,433,127 and 1,547,060 common units (representing preferred units), a weighted-average of 438,789 common units in both periods (representing subordinated units), and a weighted-average of 7,548,624 and 2,760,794 common units (representing Crestwood Niobrara’s preferred units). See Note 12 for additional information regarding the potential conversion of our preferred units and Crestwood Niobrara’s preferred units to common units. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 11 – Income Taxes The (provision) benefit for income taxes for the years ended December 31, 2016, 2015, and 2014 consisted of the following (in millions) CEQP CMLP Year Ended December 31, Year Ended December 31, 2016 2015 2014 2016 2015 2014 Current: Federal $ (3.2 ) $ (1.6 ) $ (5.0 ) $ — $ — $ — State (0.2 ) (0.6 ) (1.3 ) 0.2 (0.3 ) (0.2 ) Total current (3.4 ) (2.2 ) (6.3 ) 0.2 (0.3 ) (0.2 ) Deferred: Federal 3.0 2.9 5.3 — — — State 0.1 0.7 (0.1 ) (0.2 ) 0.3 (0.7 ) Total deferred 3.1 3.6 5.2 (0.2 ) 0.3 (0.7 ) (Provision) benefit for income taxes $ (0.3 ) $ 1.4 $ (1.1 ) $ — $ — $ (0.9 ) The effective rate differs from the statutory rate for the years ended December 31, 2016, 2015 and 2014, primarily due to the partnerships not being treated as a corporation for federal income tax purposes as discussed in Note 2. Deferred income taxes related to CEQP’s wholly owned subsidiaries, IPCH Acquisition Corp. and Crestwood Gas Services GP LLC and our Texas Margin tax reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Components of our deferred income taxes at December 31, 2016 and 2015 are as follows (in millions). CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Deferred tax asset: Basis difference in stock of company $ 0.2 $ 0.5 $ — $ — Total deferred tax asset 0.2 0.5 — — Deferred tax liability: Basis difference in stock of acquired company (5.5 ) (8.9 ) (0.7 ) (0.4 ) Total deferred tax liability (5.5 ) (8.9 ) (0.7 ) (0.4 ) Net deferred tax liability $ (5.3 ) $ (8.4 ) $ (0.7 ) $ (0.4 ) Uncertain Tax Positions. |
Partners' Capital
Partners' Capital | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Statement of Partners' Capital [Abstract] | ||
Partners' Capital | Note 9 – Partners’ Capital Preferred Units Subject to certain conditions, the holders of the Preferred Units have the right to convert their Preferred Units into (i) common units on a 1-for-10 Distributions Crestwood Equity Limited Partners. Record Date Payment Date Per Unit Rate Cash Distributions ( in millions ) 2017 February 7, 2017 February 14, 2017 $ 0.60 $ 41.8 2016 February 5, 2016 February 12, 2016 $ 1.375 $ 95.6 On April 20, 2017, we declared a distribution of $0.60 per limited partner unit to be paid on May 15, 2017, to unitholders of record on May 8, 2017 with respect to the first quarter of 2017. Preferred Unit Holders . Crestwood Midstream During the three months ended March 31, 2017 and 2016, Crestwood Midstream paid cash distributions of $43.1 million and $97.2 million to Crestwood Equity. Non-Controlling Crestwood Niobrara issued a preferred interest to a subsidiary of General Electric Capital Corporation and GE Structured Finance, Inc. (collectively, GE) in conjunction with the acquisition of its investment in Jackalope, which is reflected as non-controlling non-controlling | Note 12 – Partners’ Capital Simplification Merger Prior to the Simplification Merger, CEQP indirectly owned a non-economic Preferred Units On June 17, 2014, Crestwood Midstream entered into definitive agreements with a group of investors, including Magnetar Financial, affiliates of GSO Capital Partners LP and GE Energy Financial Services (the Class A Purchasers). Under these agreements, Crestwood Midstream agreed to sell to the Class A Purchasers and the Class A Purchasers have agreed to purchase from Crestwood Midstream up to $500 million of Class A Preferred Units (CMLP Preferred Units) at a fixed price of $25.10 per unit on or before September 30, 2015. As of December 31, 2014, the Class A Purchasers acquired 17,529,879 CMLP Preferred Units for a cash purchase price of $25.10 per unit resulting in gross proceeds to us of approximately $440.0 million (net proceeds of approximately $430.5 million after deducting transaction fees and offering expenses). In August 2015, the Class A Purchasers acquired from Crestwood Midstream the remaining $60.0 million of CMLP Preferred Units for net proceeds of approximately $58.8 million after deducting transaction fees and offering expenses. As discussed above, in conjunction with the closing of the Simplification Merger, 21,580,244 of CMLP Preferred Units were exchanged for 59,345,672 new preferred units of CEQP (the Preferred Units) with substantially similar terms and conditions to those of the CMLP Preferred Units and as a result, Crestwood Equity classified the new preferred units as a component of partners’ capital on its consolidated balance sheet as of December 31, 2015. Because the fair value of the preferred units was materially equivalent immediately before and after the exchange, Crestwood Equity recorded CEQP’s preferred units at Crestwood Midstream’s historical book value. Subject to certain conditions, the holders of the Preferred Units will have the right to convert Preferred Units into (i) common units on a 1-for-10 Distributions Crestwood Equity Description • provide for the proper conduct of its business; • comply with applicable law, any of its debt instruments, or other agreements; or • provide funds for distributions to unitholders for any one or more of the next four quarters; plus all cash on hand on the date of determination of available cash for the quarter resulting from working capital borrowings made after the end of the quarter. The amount of cash CEQP has available for distribution depends primarily upon its cash flow (which consists of the cash distributions it receives in connection with its ownership of Crestwood Midstream). Limited Partners Record Date Payment Date Per Unit Rate Cash ( in millions ) 2016 February 5, 2016 February 12, 2016 $ 1.375 $ 95.6 May 6, 2016 May 13, 2016 $ 0.60 41.4 August 5, 2016 August 12, 2016 $ 0.60 41.4 November 7, 2016 November 14, 2016 $ 0.60 41.4 $ 219.8 2015 February 6, 2015 February 13, 2015 $ 1.375 $ 25.8 May 8, 2015 May 15, 2015 $ 1.375 25.7 August 7, 2015 August 14, 2015 $ 1.375 25.7 November 6, 2015 November 13, 2015 $ 1.375 94.3 $ 171.5 2014 February 7, 2014 February 14, 2014 $ 1.375 $ 25.6 May 8, 2014 May 15, 2014 $ 1.375 25.7 August 7, 2014 August 14, 2014 $ 1.375 25.6 November 7, 2014 November 14, 2014 $ 1.375 25.6 $ 102.5 On February 14, 2017, we paid a distribution of $0.60 per limited partner unit to unitholders of record on February 7, 2017 with respect to the fourth quarter of 2016. Preferred Unit Holders . During the year ended December 31, 2016 and 2015, we issued 5,815,170 and 1,372,573 Preferred Units to our preferred unit holders in lieu of paying quarterly cash distributions of $53.0 million and $12.5 million. On February 14, 2017, we issued 1,538,811 Preferred Units to our preferred unit holders for the quarter ended December 31, 2016 in lieu of paying a cash distribution of $14.0 million. On June 9, 2016, Crestwood Equity filed a shelf registration statement with the SEC under which holders of the Preferred Units may sell the common units into which the Preferred Units are convertible. The registration statement became effective on June 15, 2016. Crestwood Equity registered 7,290,552 common units under the registration statement. Crestwood Midstream Description non-economic In conjunction with the Simplification Merger, Crestwood Midstream amended and restated its partnership agreement. In accordance with the partnership agreement, Crestwood Midstream’s general partner may, from time to time, cause Crestwood Midstream to make cash distributions at the sole discretion of the general partner. General Partner On September 30, 2015, Crestwood Midstream made a distribution of approximately $378.3 million to CEQP for purposes of repaying substantially all of its outstanding indebtedness. The distribution was funded with borrowings under the CMLP Credit Facility. In addition, during the years ended December 31, 2016, 2015 and 2014, Crestwood Midstream made distributions of $227.6 million, $175.6 million and $101.6 million, which represented net amounts due to Crestwood Midstream related to cash advances to CEQP for its general corporate activities. As discussed in Note 6, in December 2014, Crestwood Midstream paid approximately $66.4 million to acquire a 50.01% in Tres Palacios from Crestwood Equity. Crestwood Midstream reflected the difference between the cash paid in excess of Crestwood Equity’s basis in Tres Palacios of approximately $30.6 million as a distribution to its general partner on its consolidated statement of partners’ capital and its consolidated statement of cash flows for the year ended December 31, 2014. Limited Partners Record Date Payment Date Per Unit Rate Cash Distributions (in millions) 2015 February 6, 2015 February 13, 2015 $ 0.41 $ 74.3 May 8, 2015 May 15, 2015 $ 0.41 74.3 August 7, 2015 August 14, 2015 $ 0.41 74.3 $ 222.9 2014 February 7, 2014 February 14, 2014 $ 0.41 $ 74.1 May 8, 2014 May 15, 2014 $ 0.41 74.2 August 7, 2014 August 14, 2014 $ 0.41 74.1 November 7, 2014 November 14, 2014 $ 0.41 74.1 $ 296.5 Class A Preferred Unit Holders Non-Controlling Crestwood Midstream Class A Preferred Units As discussed above, prior to the Simplification Merger, Crestwood Equity classified the Crestwood Midstream Class A Preferred Units as a component of Interest of Non-Controlling Crestwood Niobrara Preferred Interest Crestwood Niobrara issued a preferred interest to a subsidiary of General Electric Capital Corporation and GE Structured Finance, Inc. (collectively, GE) in conjunction with the acquisition of its investment in Jackalope. The preferred interest is reflected as non-controlling Pursuant to Crestwood Niobrara’s agreement with GE, GE made capital contributions to Crestwood Niobrara in exchange for an equivalent number of preferred units. During the year ended December 31, 2014, GE made capital contributions of $53.9 million to Crestwood Niobrara. As of December 31, 2014, GE has fulfilled its capital contribution commitment to Crestwood Niobrara of $150.0 million and is no longer required to make quarterly contributions to Crestwood Niobrara. Net Income (Loss) Attributable to Non-Controlling The components of net income (loss) attributable to non-controlling (in millions) Year Ended December 31, 2016 2015 2014 Crestwood Niobrara preferred interests $ 24.2 $ 23.1 $ 16.8 CMLP net income attributable to non-controlling 24.2 23.1 16.8 Crestwood Midstream limited partner interests — (683.0 ) (100.8 ) Crestwood Midstream Class A preferred units — 23.1 17.2 CEQP net income (loss) attributable to non-controlling $ 24.2 $ (636.8 ) $ (66.8 ) Distributions to Non-Controlling Crestwood Midstream Limited Partners non-economic Crestwood Midstream Class A Preferred Unitholders Crestwood Niobrara Preferred Unitholders Other Partners’ Capital Transactions Subordinated Units In conjunction with Crestwood Holdings’ acquisition of Crestwood Equity’s general partner, Crestwood Equity issued 438,789 subordinated units, which are considered limited partnership interests, and have the same rights and obligations as its common units, except that the subordinated units are entitled to receive distributions of available cash for a particular quarter only after each of our common units has received a distribution of at least $1.30 for that quarter. The subordinated units convert to common units after (i) CEQP’s common units have received a cumulative distribution in excess of $5.20 during a consecutive four quarter period; and (ii) its Adjusted Operating Surplus (as defined in the agreement) exceeds the distribution on a fully dilutive basis. |
Equity Plans
Equity Plans | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Equity Plans | Note 13 – Equity Plans Long-term incentive awards are granted under the Crestwood Equity Partners LP Long Term Incentive Plan (Crestwood LTIP) in order to align the economic interests of key employees and directors with those of CEQP and Crestwood Midstream’s common unitholders and to provide an incentive for continuous employment. Long-term incentive compensation consist of grants of restricted and phantom units which vest based upon continued service. Prior to the completion of the Simplification Merger, Crestwood Midstream also granted incentive awards under is Long-term Incentive Plan (Crestwood Midstream LTIP). In conjunction with the closing of the Simplification Merger, the restricted and phantom common units granted under the Crestwood Midstream LTIP were converted into restricted and phantom units of CEQP with substantially the same terms considering the 2.75 to 1 exchange ratio. Crestwood LTIP The following table summarizes information regarding restricted and phantom unit activity during the years ended December 31, 2016 and 2015. Units Weighted-Average Unvested - January 1, 2015 131,588 $ 132.10 Vested - restricted units (91,798 ) $ 121.13 Vested - phantom units (4,856 ) $ 67.10 Granted - restricted units 142,255 $ 55.25 Granted - phantom units 42,349 $ 62.31 Modification - restricted units 226,401 $ 68.85 Modification - phantom units 41,269 $ 58.36 Forfeited (1) (20,994 ) $ 89.97 Unvested - December 31, 2015 466,214 $ 69.80 Vested - restricted units (193,295 ) $ 76.82 Granted - restricted units 1,067,535 $ 14.58 Granted - phantom units 17,467 $ 15.54 Forfeited (65,591 ) $ 25.13 Unvested - December 31, 2016 1,292,330 $ 24.67 (1) We implemented a company-wide initiative to reduce operating costs in 2015 and beyond, which included a reduction in work force. As a result, 7,263 restricted units were forfeited during the year ended December 31, 2015. As of December 31, 2016 and 2015, we had total unamortized compensation expense of approximately $14.9 million and $16.5 million related to restricted and phantom units, which we expect will be amortized during the next three years (or sooner in certain cases, which generally represents the original vesting period of these instruments), except for grants to non-employee Crestwood Restricted Units. non-vested Crestwood Phantom Units. Crestwood Midstream The following table summarizes information regarding restricted and phantom unit activity during the year ended December 31, 2015: Units Weighted-Average Unvested - January 1, 2015 834,796 $ 23.18 Vested - restricted units (457,458 ) $ 22.91 Vested - phantom units (21,578 ) $ 16.05 Granted - restricted units 535,858 $ 15.89 Granted - phantom units 171,648 $ 15.76 Modification - restricted units (823,277 ) $ 20.06 Modification - phantom units (150,070 ) $ 18.93 Forfeited (1) (89,919 ) $ 16.05 Unvested - December 31, 2015 — $ — (1) We implemented a company-wide initiative to reduce operating costs in 2015 and beyond, which included a reduction in work force. As a result, 39,172 restricted units were forfeited during the year ended December 31, 2015. Crestwood Midstream recognized compensation expense of approximately $8.1 million and $11.2 million during the years ended December 31, 2015 and 2014, which is included in general and administrative expenses on our consolidated statements of operations. Crestwood Midstream Restricted Units. non-vested Crestwood Midstream Phantom Units. Crestwood Midstream Employee Unit Purchase Plan Crestwood Midstream had an employee unit purchase plan under which employees of the general partner purchased Crestwood Midstream’s common units through payroll deductions up to a maximum of 10% of the employees’ eligible compensation. Under the plan, Crestwood Midstream purchased its common units on the open market for the benefit of participating employees based on their payroll deductions. In addition, Crestwood Midstream could contribute an additional 10% of participating employees’ payroll deductions to purchase additional Crestwood Midstream common units for participating employees. Unless increased by the board of directors of Crestwood Midstream’s general partner, the maximum number of units that were available for purchase under the plan was 200,000. Effective May 7, 2015, Crestwood Midstream suspended the employee unit purchase plan. In conjunction with the Simplification Merger, all common units purchased through the employee purchase plan were converted into common units of CEQP. |
Employee Benefit Plan
Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2016 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plan | Note 14 – Employee Benefit Plan A 401(k) plan is available to all of our employees after meeting certain requirements. The plan permits employees to make contributions up to 90% of their salary, up to statutory limits, which was $18,000 in 2016 and 2015 and $17,500 in 2014. We match 100% of participants basic contribution up to 6% of eligible compensation. Employees may participate in the plans immediately and certain employees are not eligible for matching contributions until after a 90-day |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitments and Contingencies | Note 10 – Commitments and Contingencies Legal Proceedings Simplification Merger Lawsuits Lawrence G. Farber, individually and on behalf of all others similarly situated v. Crestwood Midstream Partners LP, Crestwood Midstream GP LLC, Robert G. Phillips, Alvin Bledsoe, Michael G. France, Philip D. Gettig, Warren H. Gfellar, David Lumpkins, John J. Sherman, David Wood, Crestwood Equity Partners LP, Crestwood Equity GP LLC, CEQP ST Sub LLC, MGP GP, LLC, Crestwood Midstream Holdings LP, and Crestwood Gas Services GP LLC On July 21, 2015, Isaac Aron, another purported unitholder of Crestwood Midstream, filed a complaint in the Southern District of the United States, Houston Division, as a putative class action on behalf of Crestwood Midstream’s unitholders, entitled Isaac Aron, individually and on behalf of all others similarly situated vs. Robert G. Phillps, Alvin Bledsoe, Michael G. France, Philip D. Getting, Warren H. Gfeller, David Lumpkins, John J. Sherman, David Wood, Crestwood Midstream Partners, LP Crestwood Midstream Holdings LP, Crestwood Midstream GP LLC, Crestwood Gas Services GP, LLC, Crestwood Equity Partners LP, Crestwood Equity GP LLC, CEQP ST Sub LLC and MGP GP, LLC. 14a-9 S-4 On August 12, 2015, the defendants filed a motion to consolidate the Farber and Aron cases, which the court granted on September 4, 2015. Farber subsequently dismissed his claims against all the defendants on September 16, 2015. Aron filed a motion for temporary restraining order and requested an expedited preliminary injunction hearing, which had been scheduled for September 23, 2015. On September 22, 2015, however, the parties entered into a memorandum of understanding (MOU) with respect to a proposed settlement of the Aron lawsuit. The settlement contemplated by the MOU is subject to a number of conditions, including notice to the class, limited confirmatory discovery and final court approval of the settlement. In October 2016, the court approved the settlement. On November 7, 2016, a unitholder filed an appeal of the settlement and a hearing is scheduled in June 2017. If the appeal is denied, the settlement will become final. We do not expect the settlement to have a material impact to our consolidated financial statements. General. certain matters, and such developments could have a material adverse effect on our results of operations or cash flows in the period in which the amounts are paid and/or accrued. As of March 31, 2017 and December 31, 2016, both CEQP and CMLP had less than $0.1 million accrued for outstanding legal matters. Based on currently available information, we believe it is remote that future costs related to known contingent liability exposures for which we can estimate will exceed current accruals by an amount that would have a material adverse impact on our consolidated financial statements. As we learn new facts concerning contingencies, we reassess our position both with respect to accrued liabilities and other potential exposures. Any loss estimates are inherently subjective, based on currently available information, and are subject to management’s judgment and various assumptions. Due to the inherently subjective nature of these estimates and the uncertainty and unpredictability surrounding the outcome of legal proceedings, actual results may differ materially from any amounts that have been accrued. Regulatory Compliance In the ordinary course of our business, we are subject to various laws and regulations. In the opinion of our management, compliance with current laws and regulations will not have a material effect on our results of operations, cash flows or financial condition. Environmental Compliance Our operations are subject to stringent and complex laws and regulations pertaining to worker health, safety, and the environment. We are subject to laws and regulations at the federal, state, regional and local levels that relate to air and water quality, hazardous and solid waste management and disposal and other environmental matters. The cost of planning, designing, constructing and operating our facilities must incorporate compliance with environmental laws and regulations and safety standards. Failure to comply with these laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures. During 2014, we experienced three releases totaling approximately 28,000 barrels of produced water on our Arrow water gathering system located on the Fort Berthold Indian Reservation in North Dakota. We immediately notified the National Response Center, the Three Affiliated Tribes and numerous other regulatory authorities, and thereafter contained and cleaned up the releases completely and placed the impacted segments of these water lines back into service. In May 2015, we experienced a release of approximately 5,200 barrels of produced water on our Arrow water gathering system, immediately notified numerous regulatory authorities and other third parties, and thereafter contained and cleaned up the releases. In October 2014, we received data requests from the Environmental Protection Agency (EPA) related to the 2014 water releases and we responded to the requests during the first half of 2015. In April 2015, the EPA issued a Notice of Potential Violation (NOPV) under the Clean Water Act relating to the largest of the 2014 water releases. We responded to the NOPV in May 2015, and in April 2017, we entered into an Administrative Order on Consent (the Order) with the EPA. The Order requires us to continue to remediate and monitor the impacted area for no less than four years unless all goals of the Order are satisfied earlier. The Order does not preclude the EPA from seeking to impose fines and penalties as a result of the water releases. On March 3, 2015, we received a grand jury subpoena from the United States Attorney’s Office in Bismarck, North Dakota, seeking documents and information relating to the largest of the three 2014 water releases. We provided the requested information during the second quarter of 2015 and provided key employees to be interviewed by the United States’ Attorney in December 2015. We have not received any further requests for additional information or interviews and it is unclear whether the government will continue to pursue this matter. In August 2015, we received a notice of violation from the Three Affiliated Tribes’ Environmental Division related to our 2014 produced water releases on the Fort Berthold Indian Reservation. The notice of violation imposes fines and requests reimbursements exceeding $1.1 million; however, the notice of violation was stayed on September 15, 2015, upon our posting of a performance bond for the amount contemplated by the notice and pending the outcome of ongoing settlement discussions with the regulatory agencies asserting jurisdiction over the 2014 produced water releases. We will continue our remediation efforts to ensure the impacted lands are restored to their prior state. We believe these releases are insurable events under our policies, and we have notified our carriers of these events. We have not recorded an insurance receivable as of March 31, 2017. At March 31, 2017 and December 31, 2016, our accrual of approximately $2.1 million is based on our undiscounted estimate of amounts we will spend on compliance with environmental and other regulations, and any associated fines or penalties. We estimate that our potential liability for reasonably possible outcomes related to our environmental exposures (including the Arrow water releases described above) could range from approximately $2.1 million to $3.6 million at March 31, 2017. Self-Insurance We utilize third-party insurance subject to varying retention levels of self-insurance, which management considers prudent. Such self-insurance relates to losses and liabilities primarily associated with medical claims, workers’ compensation claims and general, product, vehicle and environmental liability. At March 31, 2017 and December 31, 2016, CEQP’s self-insurance reserves were $17.0 million and $15.6 million. We estimate that $10.6 million of this balance will be paid subsequent to March 31, 2018. As such, CEQP has classified $10.6 million in other long-term liabilities on its consolidated balance sheet at March 31, 2017. At March 31, 2017 and December 31, 2016, CMLP’s self insurance reserves were $13.7 million and $12.2 million. CMLP estimates that $8.0 million of this balance will be paid subsequent to March 31, 2018. As such, CMLP has classified $8.0 million in other long-term liabilities on its consolidated balance sheet at March 31, 2017. Guarantees and Indemnifications. 10-K. Our potential exposure under guarantee and indemnification arrangements can range from a specified amount to an unlimited dollar amount, depending on the nature of the claim, specificity as to duration, and the particular transaction. As of March 31, 2017 and December 31, 2016, we have no amounts accrued for these guarantees. | Note 15 – Commitments and Contingencies Legal Proceedings Simplification Merger Lawsuits Lawrence G. Farber, individually and on behalf of all others similarly situated v. Crestwood Midstream Partners LP, Crestwood Midstream GP LLC, Robert G. Phillips, Alvin Bledsoe, Michael G. France, Philip D. Gettig, Warren H. Gfellar, David Lumpkins, John J. Sherman, David Wood, Crestwood Equity Partners LP, Crestwood Equity GP LLC, CEQP ST Sub LLC, MGP GP, LLC, Crestwood Midstream Holdings LP, and Crestwood Gas Services GP LLC On July 21, 2015, Isaac Aron, another purported unitholder of Crestwood Midstream, filed a complaint in the Southern District of the United States, Houston Division, as a putative class action on behalf of Crestwood Midstream’s unitholders, entitled Isaac Aron, individually and on behalf of all others similarly situated vs. Robert G. Phillps, Alvin Bledsoe, Michael G. France, Philip D. Getting, Warren H. Gfeller, David Lumpkins, John J. Sherman, David Wood, Crestwood Midstream Partners, LP, Crestwood Midstream Holdings LP, Crestwood Midstream GP LLC, Crestwood Gas Services GP, LLC, Crestwood Equity Partners LP, Crestwood Equity GP LLC, CEQP ST Sub LLC and MGP GP, LLC. 14a-9 S-4 On August 12, 2015, the defendants filed a motion to consolidate the Farber and Aron cases, which the court granted on September 4, 2015. Farber subsequently dismissed his claims against all the defendants on September 16, 2015. Aron filed a motion for temporary restraining order and requested an expedited preliminary injunction hearing, which had been scheduled for September 23, 2015. On September 22, 2015, however, the parties entered into a memorandum of understanding (MOU) with respect to a proposed settlement of the Aron lawsuit. The settlement contemplated by the MOU is subject to a number of conditions, including notice to the class, limited confirmatory discovery and final court approval of the settlement. In October 2016, the court approved the settlement. On November 7, 2016, a unitholder filed an appeal of the settlement. We anticipate a ruling on the appeal in mid-2017, Property Taxes. non-uniform General Any loss estimates are inherently subjective, based on currently available information, and are subject to management’s judgment and various assumptions. Due to the inherently subjective nature of these estimates and the uncertainty and unpredictability surrounding the outcome of legal proceedings, actual results may differ materially from any amounts that have been accrued. Regulatory Compliance In the ordinary course of our business, we are subject to various laws and regulations. In the opinion of our management, compliance with current laws and regulations will not have a material effect on our results of operations, cash flows or financial condition. Environmental Compliance Our operations are subject to stringent and complex laws and regulations pertaining to worker health, safety, and the environment. We are subject to laws and regulations at the federal, state, regional and local levels that relate to air and water quality, hazardous and solid waste management and disposal and other environmental matters. The cost of planning, designing, constructing and operating our facilities must incorporate compliance with environmental laws and regulations and safety standards. Failure to comply with these laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures. During 2014, we experienced three releases totaling approximately 28,000 barrels of produced water on our Arrow water gathering system located on the Fort Berthold Indian Reservation in North Dakota. We immediately notified the National Response Center, the Three Affiliated Tribes and numerous other regulatory authorities, and thereafter contained and cleaned up the releases completely and placed the impacted segments of these water lines back into service. In May 2015, we experienced a release of approximately 5,200 barrels of produced water on our Arrow water gathering system, immediately notified numerous regulatory authorities and other third parties, and thereafter contained and cleaned up the releases. In October 2014, we received data requests from the EPA related to the 2014 water releases and we responded to the requests during the first half of 2015. In April 2015, the EPA issued a Notice of Potential Violation (NOPV) under the Clean Water Act relating to the 2014 water releases. We responded to the NOPV in May 2015, and have commenced settlement discussions with the EPA concerning the NOPV. On March 3, 2015, we received a grand jury subpoena from the United States Attorney’s Office in Bismarck, North Dakota, seeking documents and information relating to the largest of the three 2014 water releases, and we provided the requested information during the second quarter of 2015. In August 2015, we received a notice of violation from the Three Affiliated Tribes’ Environmental Division related to our 2014 produced water releases on the Fort Berthold Indian Reservation. The notice of violation imposes fines and requests reimbursements exceeding $1.1 million; however, the notice of violation was stayed on September 15, 2015, upon our posting of a performance bond for the amount contemplated by the notice and pending the outcome of ongoing settlement discussions with the regulatory agencies asserting jurisdiction over the 2014 produced water releases. We continue to work closely with the regulatory agencies to settle the claims. We may potentially be subject to fines and penalties as a result of the water releases. We will continue our remediation efforts to ensure the impacted lands are restored to their prior state. We believe these releases are insurable events under our policies, and we have notified our carriers of these events. We have not recorded an insurance receivable as of December 31, 2016. At December 31, 2016 and 2015, our accrual of approximately $2.1 million and $1.7 million is based on our undiscounted estimate of amounts we will spend on compliance with environmental and other regulations, and any associated fines or penalties. We estimate that our potential liability for reasonably possible outcomes related to our environmental exposures (including the Arrow water releases described above) could range from approximately $2.1 million to $3.6 million at December 31, 2016. Self-Insurance We utilize third-party insurance subject to varying retention levels of self-insurance, which management considers prudent. Such self-insurance relates to losses and liabilities primarily associated with medical claims, workers’ compensation claims and general, product, vehicle and environmental liability. Losses are accrued based upon management’s estimates of the aggregate liability for claims incurred using certain assumptions followed in the insurance industry and based on past experience. The primary assumption utilized is actuarially determined loss development factors. The loss development factors are based primarily on historical data. Our self insurance reserves could be affected if future claim developments differ from the historical trends. We believe changes in health care costs, trends in health care claims of our employee base, accident frequency and severity and other factors could materially affect the estimate for these liabilities. We continually monitor changes in employee demographics, incident and claim type and evaluate our insurance accruals and adjust our accruals based on our evaluation of these qualitative data points. We are liable for the development of claims for our disposed retail propane operations, provided they were reported prior to August 1, 2012. At December 31, 2016 and 2015, CEQP’s self-insurance reserves were $15.6 million and $17.2 million. We estimate that $10.6 million of this balance will be paid subsequent to December 31, 2017. As such, CEQP has classified $10.6 million in other long-term liabilities on its consolidated balance sheet at December 31, 2016. At December 31, 2016 and 2015, CMLP’s self-insurance reserves were $12.2 million and $11.4 million. CMLP estimates that $8.0 million of this balance will be paid subsequent to December 31, 2017. As such, CMLP has classified $8.0 million in other long-term liabilities on its consolidated balance sheet at December 31, 2016. Contingent Consideration - Antero In connection with the acquisition of Antero Resources Appalachian Corporation (Antero), we agreed to pay Antero conditional consideration in the form of potential additional cash payments of up to $40.0 million, depending on the achievement of certain defined average annual production levels achieved during 2012, 2013 and 2014. In February 2015, we paid Antero $40.0 million to settle the liability under the earn-out Commitments and Purchase Obligations Operating Leases. Future minimum lease payments under our noncancelable operating leases for the next five years ending December 31 and in total thereafter consist of the following ( in millions Year Ending December 31, 2017 $ 18.3 2018 16.3 2019 14.4 2020 9.6 2021 8.4 Thereafter 18.5 Total minimum lease payments $ 85.5 Our rent expense for operating leases for the years ended December 31, 2016, 2015 and 2014, totaled $25.5 million, $37.4 million and $41.8 million. Purchase Commitments. non-binding We have entered into certain purchase commitments primarily related to our marketing, supply and logistics and gathering and processing segments. At December 31, 2016, the total of our marketing, supply and logistics operations’ firm purchase commitments was approximately $13.1 million and primarily relate to the development of a rail terminal project and certain upgrades to our US Salt facility. At December 31, 2016, our gathering and processing segment’s purchase commitments totaled approximately $19.7 million and primarily relate to future growth projects and maintenance obligations. The majority of the purchases associated with these commitments are expected to occur over the next twelve months. Guarantees and Indemnifications. Legal Proceedings Our potential exposure under guarantee and indemnification arrangements can range from a specified amount to an unlimited dollar amount, depending on the nature of the claim, specificity as to duration, and the particular transaction. As of December 31, 2016, we have no amounts accrued for these guarantees. |
Related Party Transactions
Related Party Transactions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Related Party Transactions [Abstract] | ||
Related Party Transactions | Note 11 – Related Party Transactions Crestwood Holdings indirectly owns both CEQP’s and CMLP’s general partner. The affiliates of Crestwood Holdings and its owners are considered CEQP’s and CMLP’s related parties, including Sabine Oil and Gas LLC (Sabine) and Mountaineer Keystone LLC. CEQP and CMLP enter into transactions with their affiliates within the ordinary course of business, including gas gathering and processing services under long-term contracts, product purchases and various operating agreements. The following table shows transactions with our affiliates which are reflected in our consolidated statements of operations for the three months ended March 31, 2017 and 2016 ( in millions Three Months Ended March 31, 2017 2016 Gathering and processing revenues at CEQP and CMLP $ 0.5 $ 0.7 Gathering and processing costs of product/services sold at CEQP and CMLP (1) $ 4.1 $ 4.3 Operations and maintenance expenses at CEQP and CMLP (2) $ 4.7 $ 0.7 General and administrative expenses charged by CEQP to CMLP, net (3) $ 5.5 $ 3.7 General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net (4) $ (0.8 ) $ 0.1 (1) Represents natural gas purchases from Sabine. (2) Includes $2.6 million, $0.9 million and $1.2 million of operations and maintenance expenses charged to Stagecoach Gas, Tres Palacios and Crestwood Permian, respectively, in accordance with their respective operating agreements with us for the three months ended March 31, 2017. During the three months ended March 31, 2016, we charged Tres Palacios $0.7 million of operations and maintenance expenses in accordance with its operating agreement with us. (3) Includes $6.3 million and $4.5 million of net unit-based compensation charges allocated from CEQP to CMLP for the three months ended March 31, 2017 and 2016. In addition, CMLP shares common management, general and administrative and overhead costs with CEQP. During both the three months ended March 31, 2017 and 2016, CMLP allocated $0.8 million of general and administrative costs to CEQP. (4) Includes $1.0 million and less than $0.1 million unit-based compensation charges allocated from Crestwood Holdings to CEQP and CMLP during the three months ended March 31, 2017 and 2016 . The following table shows accounts receivable and accounts payable from our affiliates as of March 31, 2017 and December 31, 2016 ( in millions March 31, December 31, Accounts receivable at CEQP and CMLP $ 7.8 $ 5.6 Accounts payable at CEQP $ 2.5 $ 2.5 | Note 16 – Related Party Transactions Crestwood Holdings indirectly owns both CEQP’s and CMLP’s general partner. The affiliates of Crestwood Holdings and its owners are considered CEQP’s and CMLP’s related parties, including Sabine Oil and Gas LLC and Mountaineer Keystone LLC. CEQP and CMLP enter into transactions with their affiliates within the ordinary course of business and the services are based on the same terms as non-affiliates, Shared Services. CEQP grants long-term incentive awards under the Crestwood LTIP as discussed in Note 13. CEQP allocates a portion of its unit-based compensation costs to CMLP. Stagecoach Gas Management Agreement. Tres Palacios Operating Agreement. The following table shows revenues, costs of product/services sold, general and administrative expenses and reimbursement of expenses from our affiliates for the years December 31, 2016, 2015 and 2014 ( in millions Year Ended December 31, 2016 2015 2014 Gathering and processing revenues at CEQP and CMLP $ 2.6 $ 3.9 $ 3.0 Gathering and processing costs of product/services sold at CEQP and CMLP (1) $ 17.7 $ 28.9 $ 42.2 Operations and maintenance expenses charged at CEQP and CMLP $ 7.7 $ 2.8 $ 0.2 General and administrative expenses charged by CEQP to CMLP, net (2) $ 13.0 $ 49.5 $ 63.6 General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net (3) $ (2.2 ) $ 0.4 $ 0.5 (1) Represents natural gas purchases from Sabine Oil and Gas. (2) Includes $16.0 million, $10.0 million and $6.9 million of net unit-based compensation charges allocated from CEQP to CMLP for the years ended December 31, 2016, 2015 and 2014. In addition, includes $3.0 million and $0.8 million of CMLP’s general and administrative costs allocated to CEQP. (3) Includes $3.2 million and $0.1 million unit-based compensation charges allocated from Crestwood Holdings to CEQP and CMLP during the years ended December 31, 2016 and 2015. The following table shows accounts receivable and accounts payable from our affiliates as of December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Accounts receivable $ 5.6 $ 5.2 $ 5.6 $ 5.2 Accounts payable $ 2.5 $ 4.0 $ — $ 1.5 |
Segments
Segments | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting [Abstract] | ||
Segments | Note 12 – Segments Financial Information We have three operating and reportable segments: (i) gathering and processing operations; (ii) storage and transportation operations; and (iii) marketing, supply and logistics operations. Our corporate operations include all general and administrative expenses that are not allocated to our reportable segments. We assess the performance of our operating segments based on EBITDA, which is defined as income before income taxes, plus debt-related costs (net interest and debt expense and loss on modification/extinguishment of debt) and depreciation, amortization and accretion expense. Below is a reconciliation of CEQP’s net loss to EBITDA ( in millions Three Months Ended March 31, 2017 2016 Net loss $ (19.4 ) $ (93.7 ) Add: Interest and debt expense, net 26.5 36.1 Loss on modification/extinguishment of debt 37.3 — Benefit for income taxes (0.1 ) — Depreciation, amortization and accretion 48.4 62.3 EBITDA $ 92.7 $ 4.7 The following tables summarize CEQP’s reportable segment data for the three months ended March 31, 2017 and 2016 ( in millions 10-K. Three Months Ended March 31, 2017 Gathering Storage and Marketing, Logistics Corporate Total Revenues $ 368.6 $ 10.0 $ 449.5 $ — $ 828.1 Intersegment revenues 30.3 1.8 (32.1 ) — — Costs of product/services sold 316.6 — 366.9 — 683.5 Operations and maintenance expense 17.4 1.1 15.2 — 33.7 General and administrative expense — — — 26.4 26.4 Earnings from unconsolidated affiliates, net 1.6 6.5 — — 8.1 Other income, net — — — 0.1 0.1 EBITDA $ 66.5 $ 17.2 $ 35.3 $ (26.3 ) $ 92.7 Goodwill $ 45.9 $ — $ 153.1 $ — $ 199.0 Total assets $ 2,363.8 $ 1,080.7 $ 906.1 $ 24.2 $ 4,374.8 Three Months Ended March 31, 2016 Gathering Storage and Marketing, Corporate Total Revenues $ 238.9 $ 59.4 $ 237.7 $ — $ 536.0 Intersegment revenues 20.5 0.4 (20.9 ) — — Costs of product/services sold 179.8 2.9 180.7 — 363.4 Operations and maintenance expense 17.8 7.2 16.8 — 41.8 General and administrative expense — — — 23.0 23.0 Goodwill impairment (8.6 ) (13.7 ) (87.4 ) — (109.7 ) Earnings from unconsolidated affiliates, net 5.1 1.4 — — 6.5 Other income, net — — — 0.1 0.1 EBITDA $ 58.3 $ 37.4 $ (68.1 ) $ (22.9 ) $ 4.7 Below is a reconciliation of CMLP’s net loss to EBITDA ( in millions Three Months Ended March 31, 2017 2016 Net loss $ (21.4 ) $ (95.3 ) Add: Interest and debt expense, net 26.5 36.1 Loss on modification/extinguishment of debt 37.3 — Benefit for income taxes (0.1 ) (0.2 ) Depreciation, amortization and accretion 51.2 64.9 EBITDA $ 93.5 $ 5.5 The following tables summarize CMLP’s reportable segment data for the three months ended March 31, 2017 and 2016 ( in millions 10-K. Three Months Ended March 31, 2017 Gathering Storage and Marketing, Corporate Total Revenues $ 368.6 $ 10.0 $ 449.5 $ — $ 828.1 Intersegment revenues 30.3 1.8 (32.1 ) — — Costs of product/services sold 316.6 — 366.9 — 683.5 Operations and maintenance expense 17.4 1.1 15.2 — 33.7 General and administrative expense — — — 25.5 25.5 Earnings from unconsolidated affiliates, net 1.6 6.5 — — 8.1 EBITDA $ 66.5 $ 17.2 $ 35.3 $ (25.5 ) $ 93.5 Goodwill $ 45.9 $ — $ 153.1 $ — $ 199.0 Total assets $ 2,562.4 $ 1,080.7 $ 906.1 $ 14.9 $ 4,564.1 Three Months Ended March 31, 2016 Gathering Storage and Marketing, Corporate Total Revenues $ 238.9 $ 59.4 $ 237.7 $ — $ 536.0 Intersegment revenues 20.5 0.4 (20.9 ) — — Costs of product/services sold 179.8 2.9 180.7 — 363.4 Operations and maintenance expense 17.8 7.1 16.8 — 41.7 General and administrative expense — — — 22.2 22.2 Goodwill impairment (8.6 ) (13.7 ) (87.4 ) — (109.7 ) Earnings from unconsolidated affiliates, net 5.1 1.4 — — 6.5 EBITDA $ 58.3 $ 37.5 $ (68.1 ) $ (22.2 ) $ 5.5 | Note 17 – Segments Financial Information We have three operating and reportable segments: (i) gathering and processing operations; (ii) storage and transportation operations; and (iii) marketing, supply and logistics operations. Our corporate operations include all general and administrative expenses that are not allocated to our reportable segments. For a further description of our operating and reporting segments, see Note 1. We assess the performance of our operating segments based on EBITDA, which is defined as income before income taxes, plus debt-related costs (net interest and debt expense and gain or loss on modification/extinguishment of debt) and depreciation, amortization and accretion expense. Below is a reconciliation of CEQP’s net loss to EBITDA ( in millions Year Ended December 31, 2016 2015 2014 Net loss $ (192.1 ) $ (2,303.7 ) $ (10.4 ) Add: Interest and debt expense, net 125.1 140.1 127.1 (Gain) loss on modification/extinguishment of debt (10.0 ) 20.0 — Provision (benefit) for income taxes 0.3 (1.4 ) 1.1 Depreciation, amortization and accretion 229.6 300.1 285.3 EBITDA $ 152.9 $ (1,844.9 ) $ 403.1 The following tables summarize CEQP’s reportable segment data for the years ended December 31, 2016, 2015 and 2014 ( in millions Year Ended December 31, 2016 Gathering and Storage and Marketing, Corporate Total Revenues $ 1,118.8 $ 165.3 $ 1,236.4 $ — $ 2,520.5 Intersegment revenues 108.6 4.2 (112.8 ) — — Costs of product/services sold 917.0 5.1 1,003.0 — 1,925.1 Operations and maintenance expense 77.0 21.4 59.7 — 158.1 General and administrative expense — — — 88.2 88.2 Loss on long-lived assets, net (2.0 ) (32.2 ) (31.4 ) — (65.6 ) Goodwill impairment (8.6 ) (44.9 ) (109.1 ) — (162.6 ) Earnings from unconsolidated affiliates, net 20.3 11.2 — — 31.5 Other income, net — — — 0.5 0.5 EBITDA $ 243.1 $ 77.1 $ (79.6 ) $ (87.7 ) $ 152.9 Goodwill $ 45.9 $ — $ 153.1 $ — $ 199.0 Total assets $ 2,359.7 $ 1,094.6 $ 972.2 $ 22.4 $ 4,448.9 Purchases of property, plant and equipment $ 76.6 $ 3.3 $ 19.1 $ 1.7 $ 100.7 Year Ended December 31, 2015 Gathering and Storage and Marketing, Corporate Total Revenues $ 1,381.0 $ 266.3 $ 985.5 $ — $ 2,632.8 Intersegment revenues 66.7 — (66.7 ) — — Costs of product/services sold 1,103.9 20.1 759.5 — 1,883.5 Operations and maintenance expense 89.0 31.7 69.5 — 190.2 General and administrative expense — — — 116.3 116.3 Loss on long-lived assets (787.3 ) (1.6 ) (32.3 ) — (821.2 ) Goodwill impairment (329.7 ) (623.4 ) (453.2 ) — (1,406.3 ) Loss from unconsolidated affiliates (43.4 ) (17.4 ) — — (60.8 ) Other income, net — — — 0.6 0.6 EBITDA $ (905.6 ) $ (427.9 ) $ (395.7 ) $ (115.7 ) $ (1,844.9 ) Goodwill $ 54.5 $ 771.2 $ 259.8 $ — $ 1,085.5 Total assets $ 2,325.2 $ 2,217.4 $ 1,083.7 $ 136.5 $ 5,762.8 Purchases of property, plant and equipment $ 132.7 $ 26.4 $ 22.8 $ 0.8 $ 182.7 Year Ended December 31, 2014 Gathering and Storage and Marketing, Corporate Total Revenues $ 2,166.8 $ 264.6 $ 1,499.9 $ — $ 3,931.3 Intersegment revenues 50.0 — (50.0 ) — — Costs of product/services sold 1,859.9 33.3 1,272.1 — 3,165.3 Operations and maintenance expense 102.8 28.8 71.7 — 203.3 General and administrative expense — — — 100.2 100.2 Gain (loss) on long-lived assets (32.7 ) 33.8 (3.0 ) — (1.9 ) Goodwill impairment (18.5 ) — (30.3 ) — (48.8 ) Loss on contingent consideration (8.6 ) — — — (8.6 ) Earnings (loss) from unconsolidated affiliates 0.5 (1.2 ) — — (0.7 ) Other income, net — — — 0.6 0.6 EBITDA $ 194.8 $ 235.1 $ 72.8 $ (99.6 ) $ 403.1 Purchases of property, plant and equipment $ 327.9 $ 37.0 $ 50.9 $ 8.2 $ 424.0 Below is a reconciliation of CMLP’s net income (loss) to EBITDA ( in millions Year Ended December 31, 2016 2015 2014 Net income (loss) $ (197.5 ) $ (1,410.6 ) $ 14.7 Add: Interest and debt expense, net 125.1 130.5 111.4 (Gain) loss on modification/extinguishment of debt (10.0 ) 18.9 — Provision for income taxes — — 0.9 Depreciation, amortization and accretion 240.5 278.5 255.4 EBITDA $ 158.1 $ (982.7 ) $ 382.4 The following tables summarize CMLP’s reportable segment data for the years ended December 31, 2016, 2015 and 2014 ( in millions Year Ended December 31, 2016 Gathering and Storage and Marketing, Corporate Total Revenues $ 1,118.8 $ 165.3 $ 1,236.4 $ — $ 2,520.5 Intersegment revenues 108.6 4.2 (112.8 ) — — Costs of product/services sold 917.0 5.1 1,003.0 — 1,925.1 Operations and maintenance expense 77.0 18.3 59.7 — 155.0 General and administrative expense — — — 85.6 85.6 Loss on long-lived assets, net (2.0 ) (32.2 ) (31.4 ) — (65.6 ) Goodwill impairment (8.6 ) (44.9 ) (109.1 ) — (162.6 ) Earnings from unconsolidated affiliates, net 20.3 11.2 — — 31.5 EBITDA $ 243.1 $ 80.2 $ (79.6 ) $ (85.6 ) $ 158.1 Goodwill $ 45.9 $ — $ 153.1 $ — $ 199.0 Total assets $ 2,561.9 $ 1,094.6 $ 972.2 $ 11.9 $ 4,640.6 Purchases of property, plant and equipment $ 76.6 $ 3.3 $ 19.1 $ 1.7 $ 100.7 Year Ended December 31, 2015 Gathering and Storage and Marketing, Corporate Total Revenues $ 1,381.0 $ 266.3 $ 985.5 $ — $ 2,632.8 Intersegment revenues 66.7 — (66.7 ) — — Costs of product/services sold 1,103.9 20.1 759.5 — 1,883.5 Operations and maintenance expense 89.0 30.2 69.5 — 188.7 General and administrative expense — — — 105.6 105.6 Loss on long-lived assets, net (194.1 ) (1.4 ) (32.3 ) — (227.8 ) Goodwill impairment (72.5 ) (623.4 ) (453.2 ) — (1,149.1 ) Loss from unconsolidated affiliates, net (43.4 ) (17.4 ) — — (60.8 ) EBITDA $ (55.2 ) $ (426.2 ) $ (395.7 ) $ (105.6 ) $ (982.7 ) Goodwill $ 54.5 $ 771.2 $ 259.8 $ — $ 1,085.5 Total assets $ 2,541.6 $ 2,216.7 $ 1,083.7 $ 121.6 $ 5,963.6 Purchases of property, plant and equipment $ 132.7 $ 26.4 $ 22.8 $ 0.8 $ 182.7 Year Ended December 31, 2014 Gathering and Storage and Marketing, Corporate Total Revenues $ 2,166.8 $ 250.8 $ 1,499.9 $ — $ 3,917.5 Intersegment revenues 50.0 — (50.0 ) — — Costs of product/services sold 1,859.9 22.8 1,272.1 — 3,154.8 Operations and maintenance expense 102.8 22.1 70.5 — 195.4 General and administrative expense — — — 91.7 91.7 Gain (loss) on long-lived assets (32.7 ) 0.6 (3.0 ) — (35.1 ) Goodwill impairment (18.5 ) — (30.3 ) — (48.8 ) Loss on contingent consideration (8.6 ) — — — (8.6 ) Earnings (loss) from unconsolidated affiliates, net 0.5 (1.2 ) — — (0.7 ) EBITDA $ 194.8 $ 205.3 $ 74.0 $ (91.7 ) $ 382.4 Purchases of property, plant and equipment $ 327.9 $ 36.4 $ 50.9 $ 6.5 $ 421.7 Major Customers No customer accounted for 10% or more of our total consolidated revenues for the years ended December 31, 2016 or 2015 at CEQP or CMLP. For the year ended December 31, 2014, we had revenues from Tesoro Corporation (Tesoro) of $465.2 million which exceeded 10% of the total consolidated revenues at CEQP and CMLP. Revenues from Tesoro are reflected in each of our reportable segments. |
Condensed Consolidating Financi
Condensed Consolidating Financial Information | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||
Condensed Consolidating Financial Information | Note 13 – Condensed Consolidating Financial Information Crestwood Midstream is a holding company (Parent) and owns no operating assets and has no significant operations independent of its subsidiaries. Obligations under Crestwood Midstream’s senior notes and its credit facility are jointly and severally guaranteed by substantially all of its subsidiaries, except for Crestwood Infrastructure Holdings LLC, Crestwood Niobrara, Crestwood Pipeline and Storage Northeast LLC (Crestwood Northeast), PRBIC and Tres Holdings and their respective subsidiaries (collectively, Non-Guarantor co-issuer co-issuer The tables below present condensed consolidating financial statements for Crestwood Midstream as Parent on a stand-alone, unconsolidated basis, and Crestwood Midstream’s combined guarantor and combined non-guarantor The condensed consolidating financial statements for the three months ended March 31, 2016 include reclassifications that were made to conform to the current year presentation, none of which impacted previously reported net income (loss) or partners’ capital. In particular, the condensed consolidating statement of operations was modified to consider the impact of net income (loss) attributable to non-controlling Crestwood Midstream Partners LP Condensed Consolidating Balance Sheet March 31, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ 0.6 $ — $ — $ — $ 0.6 Accounts receivable — 264.8 3.0 — 267.8 Inventory — 58.8 — — 58.8 Other current assets — 12.4 — — 12.4 Total current assets 0.6 336.0 3.0 — 339.6 Property, plant and equipment, net — 2,278.0 — — 2,278.0 Goodwill and intangible assets, net — 839.1 — — 839.1 Investment in consolidated affiliates 4,072.8 — — (4,072.8 ) — Investment in unconsolidated affiliates — — 1,105.3 — 1,105.3 Other assets — 2.1 — — 2.1 Total assets $ 4,073.4 $ 3,455.2 $ 1,108.3 $ (4,072.8 ) $ 4,564.1 Liabilities and partners’ capital Current liabilities: Accounts payable $ — $ 191.0 $ — $ — $ 191.0 Other current liabilities 40.2 59.2 — — 99.4 Total current liabilities 40.2 250.2 — — 290.4 Long-term liabilities: Long-term debt, less current portion 1,549.2 1.1 — — 1,550.3 Other long-term liabilities — 43.9 — — 43.9 Deferred income taxes — 0.7 — — 0.7 Partners’ capital 2,484.0 3,159.3 913.5 (4,072.8 ) 2,484.0 Interest of non-controlling — — 194.8 — 194.8 Total partners’ capital 2,484.0 3,159.3 1,108.3 (4,072.8 ) 2,678.8 Total liabilities and partners’ capital $ 4,073.4 $ 3,455.2 $ 1,108.3 $ (4,072.8 ) $ 4,564.1 Crestwood Midstream Partners LP Condensed Consolidating Balance Sheet December 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ 1.3 $ — $ — $ — $ 1.3 Accounts receivable — 289.3 0.5 — 289.8 Inventory — 66.0 — — 66.0 Other current assets — 16.0 — — 16.0 Total current assets 1.3 371.3 0.5 — 373.1 Property, plant and equipment, net — 2,298.4 — — 2,298.4 Goodwill and intangible assets, net — 851.9 — — 851.9 Investment in consolidated affiliates 4,093.7 — — (4,093.7 ) — Investment in unconsolidated affiliates — — 1,115.4 — 1,115.4 Other assets — 1.8 — — 1.8 Total assets $ 4,095.0 $ 3,523.4 $ 1,115.9 $ (4,093.7 ) $ 4,640.6 Liabilities and partners’ capital Current liabilities: Accounts payable $ — $ 214.5 $ — $ — $ 214.5 Other current liabilities 23.1 94.4 — — 117.5 Total current liabilities 23.1 308.9 — — 332.0 Long-term liabilities: Long-term debt, less current portion 1,521.2 1.5 — — 1,522.7 Other long-term liabilities — 42.0 — — 42.0 Deferred income taxes — 0.7 — — 0.7 Partners’ capital 2,550.7 3,170.3 923.4 (4,093.7 ) 2,550.7 Interest of non-controlling — — 192.5 — 192.5 Total partners’ capital 2,550.7 3,170.3 1,115.9 (4,093.7 ) 2,743.2 Total liabilities and partners’ capital $ 4,095.0 $ 3,523.4 $ 1,115.9 $ (4,093.7 ) $ 4,640.6 Crestwood Midstream Partners LP Condensed Consolidating Statement of Operations Three Months Ended March 31, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 828.1 $ — $ — $ 828.1 Costs of product/services sold — 683.5 — — 683.5 Expenses: Operations and maintenance — 33.7 — — 33.7 General and administrative 18.3 7.2 — — 25.5 Depreciation, amortization and accretion — 51.2 — — 51.2 18.3 92.1 — — 110.4 Operating income (loss) (18.3 ) 52.5 — — 34.2 Earnings from unconsolidated affiliates, net — — 8.1 — 8.1 Interest and debt expense, net (26.5 ) — — — (26.5 ) Loss on modification/extinguishment of debt (37.3 ) — — — (37.3 ) Equity in net income (loss) of subsidiary 54.6 — — (54.6 ) — Income (loss) before income taxes (27.5 ) 52.5 8.1 (54.6 ) (21.5 ) Benefit for income taxes — 0.1 — — 0.1 Net income (loss) (27.5 ) 52.6 8.1 (54.6 ) (21.4 ) Net income attributable to non-controlling — — 6.1 — 6.1 Net income (loss) attributable to Crestwood Midstream Partners LP $ (27.5 ) $ 52.6 $ 2.0 $ (54.6 ) $ (27.5 ) Crestwood Midstream Partners LP Condensed Consolidating Statement of Operations Three Months Ended March 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Eliminations Consolidated Revenues $ — $ 536.0 $ — $ — $ 536.0 Costs of product/services sold — 363.4 — — 363.4 Expenses: Operations and maintenance — 41.7 — — 41.7 General and administrative 17.7 4.5 — — 22.2 Depreciation, amortization and accretion — 64.9 — — 64.9 17.7 111.1 — — 128.8 Other operating expense: Goodwill Impairment — (109.7 ) — — (109.7 ) Operating loss (17.7 ) (48.2 ) — — (65.9 ) Earnings from unconsolidated affiliates, net — — 6.5 — 6.5 Interest and debt expense, net (36.1 ) — — — (36.1 ) Equity in net income (loss) of subsidiary (47.4 ) — — 47.4 — Income (loss) before income taxes (101.2 ) (48.2 ) 6.5 47.4 (95.5 ) Benefit for income taxes — 0.2 — — 0.2 Net income (loss) (101.2 ) (48.0 ) 6.5 47.4 (95.3 ) Net income attributable to non-controlling — — 5.9 — 5.9 Net income (loss) attributable to Crestwood Midstream Partners LP $ (101.2 ) $ (48.0 ) $ 0.6 $ 47.4 $ (101.2 ) Crestwood Midstream Partners LP Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (39.7 ) $ 94.4 $ 5.3 $ — $ 60.0 Cash flows from investing activities: Purchases of property, plant and equipment (0.1 ) (22.6 ) — — (22.7 ) Investment in unconsolidated affiliates — — (0.1 ) — (0.1 ) Capital distributions from unconsolidated affiliates — — 10.5 — 10.5 Capital distributions from consolidated affiliates 11.9 — — (11.9 ) — Net cash provided by (used in) investing activities 11.8 (22.6 ) 10.4 (11.9 ) (12.3 ) Cash flows from financing activities: Proceeds from the issuance of long-term debt 1,154.5 — — — 1,154.5 Payments on long-term debt (1,143.3 ) (0.4 ) — — (1,143.7 ) Payments on capital leases — (0.4 ) — — (0.4 ) Payments for debt-related deferred costs (8.5 ) — — — (8.5 ) Distributions paid (43.1 ) — (3.8 ) — (46.9 ) Distributions to parent — — (11.9 ) 11.9 — Taxes paid for unit-based compensation vesting — (3.4 ) — — (3.4 ) Change in intercompany balances 67.6 (67.6 ) — — — Net cash provided by (used in) financing activities 27.2 (71.8 ) (15.7 ) 11.9 (48.4 ) Net change in cash (0.7 ) — — — (0.7 ) Cash at beginning of period 1.3 — — — 1.3 Cash at end of period $ 0.6 $ — $ — $ — $ 0.6 Crestwood Midstream Partners LP Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (42.7 ) $ 172.8 $ 5.6 $ — $ 135.7 Cash flows from investing activities: Purchases of property, plant and equipment (0.9 ) (54.7 ) — — (55.6 ) Investment in unconsolidated affiliates — — (5.5 ) — (5.5 ) Proceeds from the sale of assets — 0.8 — — 0.8 Capital contributions to consolidated affiliates (3.7 ) — — 3.7 — Net cash provided by (used in) investing activities (4.6 ) (53.9 ) (5.5 ) 3.7 (60.3 ) Cash flows from financing activities: Proceeds from the issuance of long-term debt 313.5 — — — 313.5 Principal payments on long-term debt (286.0 ) — — — (286.0 ) Payments on capital leases — (0.5 ) — — (0.5 ) Payments for debt-related deferred costs (0.1 ) — — — (0.1 ) Distributions paid (97.2 ) — (3.8 ) — (101.0 ) Contributions from parent — — 3.7 (3.7 ) — Taxes paid for unit-based compensation vesting — (0.6 ) — — (0.6 ) Change in intercompany balances 117.8 (117.8 ) — — — Net cash provided by (used in) financing activities 48.0 (118.9 ) (0.1 ) (3.7 ) (74.7 ) Net change in cash 0.7 — — — 0.7 Cash at beginning of period 0.1 — — — 0.1 Cash at end of period $ 0.8 $ — $ — $ — $ 0.8 | Note 18 – Crestwood Midstream Condensed Consolidating Financial Information Crestwood Midstream is a holding company (Parent) and owns no operating assets and has no significant operations independent of its subsidiaries. Obligations under Crestwood Midstream’s senior notes and its credit facility are jointly and severally guaranteed by substantially all of its subsidiaries, except for Crestwood Infrastructure Holdings LLC, Crestwood Niobrara, Crestwood Northwest, PRBIC and Tres Holdings and their respective subsidiaries (collectively, Non-Guarantor co-issuer co-issuer The tables below present condensed consolidating financial statements for Crestwood Midstream as parent on a stand-alone, unconsolidated basis, and Crestwood Midstream’s combined guarantor and combined non-guarantor The condensed consolidating financial statements for the years ended December 31, 2015 and 2014 include reclassifications that were made to conform to the current year presentation, none of which impacted previously reported net income (loss) or partners’ capital. In particular, the condensed consolidating statements of operations were modified to consider the impact of net income (loss) attributable to non-controlling Crestwood Midstream Partners LP Condensed Consolidating Balance Sheet December 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ 1.3 $ — $ — $ — $ 1.3 Accounts receivable — 289.3 0.5 — 289.8 Inventory — 66.0 — — 66.0 Other current assets — 16.0 — — 16.0 Total current assets 1.3 371.3 0.5 — 373.1 Property, plant and equipment, net — 2,298.4 — — 2,298.4 Goodwill and intangible assets, net — 851.9 — — 851.9 Investment in consolidated affiliates 4,093.7 — — (4,093.7 ) — Investment in unconsolidated affiliates — — 1,115.4 — 1,115.4 Other assets — 1.8 — — 1.8 Total assets $ 4,095.0 $ 3,523.4 $ 1,115.9 $ (4,093.7 ) $ 4,640.6 Liabilities and partners’ capital Current liabilities: Accounts payable $ — $ 214.5 $ — $ — $ 214.5 Other current liabilities 23.1 94.4 — — 117.5 Total current liabilities 23.1 308.9 — — 332.0 Long-term liabilities: Long-term debt, less current portion 1,521.2 1.5 — — 1,522.7 Other long-term liabilities — 42.0 — — 42.0 Deferred income taxes — 0.7 — — 0.7 Partners’ capital 2,550.7 3,170.3 923.4 (4,093.7 ) 2,550.7 Interest of non-controlling — — 192.5 — 192.5 Total partners’ capital 2,550.7 3,170.3 1,115.9 (4,093.7 ) 2,743.2 Total liabilities and partners’ capital $ 4,095.0 $ 3,523.4 $ 1,115.9 $ (4,093.7 ) $ 4,640.6 Crestwood Midstream Partners LP Condensed Consolidating Balance Sheet December 31, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ 0.1 $ — $ — $ — $ 0.1 Accounts receivable — 236.0 0.5 — 236.5 Inventory — 44.5 — — 44.5 Other current assets — 52.5 — 52.5 Total current assets 0.1 333.0 0.5 — 333.6 Property, plant and equipment, net — 3,525.7 — — 3,525.7 Goodwill and intangible assets, net — 1,846.9 — — 1,846.9 Investment in consolidated affiliates 5,506.8 — — (5,506.8 ) — Investment in unconsolidated affiliates — — 254.3 — 254.3 Other assets — 3.1 — — 3.1 Total assets $ 5,506.9 $ 5,708.7 $ 254.8 $ (5,506.8 ) $ 5,963.6 Liabilities and partners’ capital Current liabilities: Accounts payable $ — $ 141.3 $ 0.1 $ — $ 141.4 Other current liabilities 26.4 85.2 — — 111.6 Total current liabilities 26.4 226.5 0.1 — 253.0 Long-term liabilities: Long-term debt, less current portion 2,498.9 2.9 — — 2,501.8 Other long-term liabilities — 43.3 — — 43.3 Deferred income taxes — 0.4 — — 0.4 Partners’ capital 2,981.6 5,435.6 71.2 (5,506.8 ) 2,981.6 Interest of non-controlling — — 183.5 — 183.5 Total partners’ capital 2,981.6 5,435.6 254.7 (5,506.8 ) 3,165.1 Total liabilities and partners’ capital $ 5,506.9 $ 5,708.7 $ 254.8 $ (5,506.8 ) $ 5,963.6 Crestwood Midstream Partners LP Condensed Consolidating Statements of Operations Year Ended December 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 2,520.5 $ — $ — $ 2,520.5 Costs of product/services sold — 1,925.1 — — 1,925.1 Expenses: Operations and maintenance — 155.0 — — 155.0 General and administrative 66.4 19.2 — — 85.6 Depreciation, amortization and accretion — 240.5 — — 240.5 66.4 414.7 — — 481.1 Other operating expenses: Loss on long-lived assets, net — (65.6 ) — — (65.6 ) Goodwill impairment — (162.6 ) — — (162.6 ) Operating loss (66.4 ) (47.5 ) — — (113.9 ) Earnings from unconsolidated affiliates, net — — 31.5 — 31.5 Interest and debt expense, net (125.1 ) — — — (125.1 ) Gain on modification/extinguishment of debt 10.0 — — — 10.0 Equity in net income (loss) of subsidiaries (40.2 ) — — 40.2 — Net income (loss) (221.7 ) (47.5 ) 31.5 40.2 (197.5 ) Net income attributable to non-controlling — — 24.2 — 24.2 Net income (loss) attributable to Crestwood Midstream Partners LP $ (221.7 ) $ (47.5 ) $ 7.3 $ 40.2 $ (221.7 ) Crestwood Midstream Partners LP Condensed Consolidating Statements of Operations Year Ended December 31, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 2,632.8 $ — $ — $ 2,632.8 Costs of product/services sold — 1,883.5 — — 1,883.5 Expenses: Operations and maintenance — 188.7 — — 188.7 General and administrative 65.3 40.3 — — 105.6 Depreciation, amortization and accretion — 278.5 — — 278.5 65.3 507.5 — — 572.8 Other operating expenses: Loss on long-lived assets, net — (227.8 ) — — (227.8 ) Goodwill impairment — (1,149.1 ) — — (1,149.1 ) Operating loss (65.3 ) (1,135.1 ) — — (1,200.4 ) Loss from unconsolidated affiliates, net — — (60.8 ) — (60.8 ) Interest and debt expense, net (130.5 ) — — — (130.5 ) Loss on modification/extinguishment of debt (18.9 ) — — — (18.9 ) Equity in net income (loss) of subsidiaries (1,219.0 ) — — 1,219.0 — Net income (loss) (1,433.7 ) (1,135.1 ) (60.8 ) 1,219.0 (1,410.6 ) Net income attributable to non-controlling — — 23.1 — 23.1 Net income (loss) attributable to Crestwood Midstream Partners LP (1,433.7 ) (1,135.1 ) (83.9 ) 1,219.0 (1,433.7 ) Net income attributable to Class A preferred units 23.1 — — — 23.1 Net income (loss) attributable to partners $ (1,456.8 ) $ (1,135.1 ) $ (83.9 ) $ 1,219.0 $ (1,456.8 ) Crestwood Midstream Partners Condensed Consolidating Statements of Operations Year Ended December 31, 2014 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 3,917.5 $ — $ — $ 3,917.5 Costs of product/services sold — 3,154.8 — — 3,154.8 Expenses: Operations and maintenance — 195.4 — — 195.4 General and administrative 49.4 42.3 — — 91.7 Depreciation, amortization and accretion 0.9 254.5 — — 255.4 50.3 492.2 — — 542.5 Other operating expenses: Loss on long-lived assets, net — (35.1 ) — — (35.1 ) Goodwill impairment — (48.8 ) — — (48.8 ) Loss on contingent consideration — (8.6 ) — — (8.6 ) Operating income (loss) (50.3 ) 178.0 — — 127.7 Loss from unconsolidated affiliates, net — — (0.7 ) — (0.7 ) Interest and debt expense, net (111.4 ) — — — (111.4 ) Equity in net income (loss) of subsidiaries 159.6 — — (159.6 ) — Income (loss) before income taxes (2.1 ) 178.0 (0.7 ) (159.6 ) 15.6 Provision for income taxes — (0.9 ) — — (0.9 ) Net income (loss) (2.1 ) 177.1 (0.7 ) (159.6 ) 14.7 Net income attributable to non-controlling — — 16.8 — 16.8 Net income (loss) attributable to Crestwood Midstream Partners LP (2.1 ) 177.1 (17.5 ) (159.6 ) (2.1 ) Net income attributable to Class A preferred units 17.2 — — — 17.2 Net income (loss) attributable to partners $ (19.3 ) $ 177.1 $ (17.5 ) $ (159.6 ) $ (19.3 ) Crestwood Midstream Partners LP Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (188.0 ) $ 502.8 $ 39.0 $ — $ 353.8 Cash flows from investing activities: Acquisitions, net of cash acquired — (7.2 ) — — (7.2 ) Purchases of property, plant and equipment (1.7 ) (99.0 ) — — (100.7 ) Investment in unconsolidated affiliates — — (12.4 ) — (12.4 ) Proceeds from the sale of assets — 972.7 — — 972.7 Capital distributions from unconsolidated affiliates — — 14.8 — 14.8 Capital contributions to consolidated affiliates 26.2 — — (26.2 ) — Net cash provided by (used in) investing activities 24.5 866.5 2.4 (26.2 ) 867.2 Cash flows from financing activities: Proceeds from the issuance of long-term debt 1,565.3 — — — 1,565.3 Principal payments on long-term debt (2,535.3 ) (0.8 ) — — (2,536.1 ) Payments on capital leases — (1.9 ) — — (1.9 ) Payments for debt-related deferred costs (3.5 ) — — — (3.5 ) Distributions paid (227.6 ) — (15.2 ) — (242.8 ) Distributions to parents — — (26.2 ) 26.2 — Taxes paid for unit-based compensation vesting — (0.8 ) — — (0.8 ) Change in intercompany balances 1,365.8 (1,365.8 ) — — — Net cash provided by (used in) financing activities 164.7 (1,369.3 ) (41.4 ) 26.2 (1,219.8 ) Net change in cash 1.2 — — — 1.2 Cash at beginning of period 0.1 — — — 0.1 Cash at end of period $ 1.3 $ — $ — $ — $ 1.3 Crestwood Midstream Partners LP Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (190.8 ) $ 650.0 $ 12.6 $ — $ 471.8 Cash flows from investing activities: Purchases of property, plant and equipment (0.8 ) (181.9 ) — — (182.7 ) Investment in unconsolidated affiliates, net — — (41.8 ) — (41.8 ) Proceeds from the sale of assets — 2.7 — — 2.7 Capital distributions from unconsolidated affiliates — — 9.3 — 9.3 Capital contributions to consolidated affiliates (31.2 ) — — 31.2 — Net cash provided by (used in) investing activities (32.0 ) (179.2 ) (32.5 ) 31.2 (212.5 ) Cash flows from financing activities: Proceeds from the issuance of long-term debt 3,490.1 — — — 3,490.1 Principal payments on long-term debt (2,960.9 ) — — — (2,960.9 ) Payments on capital leases — (2.2 ) — — (2.2 ) Payments for debt-related deferred costs (17.3 ) — — — (17.3 ) Financing fees paid for early debt redemption (13.6 ) — — — (13.6 ) Distributions paid (808.2 ) — (11.3 ) — (819.5 ) Contributions from parents — — 31.2 (31.2 ) — Net proceeds from issuance of preferred units 58.8 — — — 58.8 Taxes paid for unit-based compensation vesting — (2.1 ) — — (2.1 ) Change in intercompany balances 474.1 (474.1 ) — — — Other (0.1 ) — — — (0.1 ) Net cash provided by (used in) financing activities 222.9 (478.4 ) 19.9 (31.2 ) (266.8 ) Net change in cash 0.1 (7.6 ) — — (7.5 ) Cash at beginning of period — 7.6 — — 7.6 Cash at end of period $ 0.1 $ — $ — $ — $ 0.1 Crestwood Midstream Partners LP Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2014 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (165.6 ) $ 602.9 $ — $ — $ 437.3 Cash flows from investing activities: Acquisitions, net of cash acquired — (19.5 ) — — (19.5 ) Purchases of property, plant and equipment (4.3 ) (417.4 ) — — (421.7 ) Investment in unconsolidated affiliates, net — — (144.4 ) — (144.4 ) Proceeds from the sale of assets — 2.7 — — 2.7 Capital contributions to consolidated affiliates (89.5 ) — — 89.5 — Net cash provided by (used in) investing activities (93.8 ) (434.2 ) (144.4 ) 89.5 (582.9 ) Cash flows from financing activities: Proceeds from the issuance of long-term debt 2,089.9 — — — 2,089.9 Principal payments on long-term debt (1,949.8 ) (0.2 ) — — (1,950.0 ) Payments on capital leases (1.3 ) (1.9 ) — — (3.2 ) Payments for debt-related deferred costs (0.1 ) — — — (0.1 ) Distributions paid (470.5 ) — — — (470.5 ) Contributions from parents — — 89.5 (89.5 ) — Net proceeds from issuance of preferred equity of subsidiary — — 53.9 — 53.9 Net proceeds from issuance of Class A preferred units 430.5 — — — 430.5 Taxes paid for unit-based compensation vesting — (1.6 ) — — (1.6 ) Change in intercompany balances 161.4 (161.4 ) — — — Other (0.8 ) — — — (0.8 ) Net cash provided by (used in) financing activities 259.3 (165.1 ) 143.4 (89.5 ) 148.1 Net change in cash (0.1 ) 3.6 (1.0 ) — 2.5 Cash at beginning of period 0.1 4.0 1.0 — 5.1 Cash at end of period $ — $ 7.6 $ — $ — $ 7.6 |
Schedule - Schedule I - Crestwo
Schedule - Schedule I - Crestwood Equity Partners LP - Parent Only | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Schedule - Schedule I - Crestwood Equity Partners LP - Parent Only | Schedule I Crestwood Equity Partners LP Parent Only Condensed Balance Sheets (in millions) December 31, 2016 2015 Assets Current assets: Cash $ 0.3 $ 0.4 Accounts receivable - trade — 1.8 Total current assets 0.3 2.2 Property, plant and equipment, net 1.4 1.5 Intangible assets, net 4.5 7.8 Investment in subsidiaries 2,342.7 2,757.7 Other assets 4.3 3.5 Total assets $ 2,353.2 $ 2,772.7 Liabilities and partners’ capital Current liabilities: Accounts payable $ 2.7 $ 2.6 Accrued expenses 1.4 2.3 Current portion of long-term debt — 0.2 Total current liabilities 4.1 5.1 Other long-term liabilities 2.6 4.2 Total partners’ capital 2,346.5 2,763.4 Total liabilities and partners’ capital $ 2,353.2 $ 2,772.7 See accompanying notes. Schedule I Crestwood Equity Partners LP Parent Only Condensed Statements of Operations (in millions) Year Ended December 31, 2016 2015 2014 Revenues $ — $ — $ — Expenses 6.0 14.5 8.5 Operating loss (6.0 ) (14.5 ) (8.5 ) Interest and debt expense, net — (9.6 ) (15.7 ) Equity in net income (loss) of subsidiaries (186.6 ) (2,279.1 ) 14.2 Loss on modification/extinguishment of debt — (1.1 ) — Other income, net 0.5 0.6 — Loss before income taxes (192.1 ) (2,303.7 ) (10.0 ) Provision for income taxes — — (0.4 ) Net loss (192.1 ) (2,303.7 ) (10.4 ) Net income (loss) attributable to non-controlling 24.2 (636.8 ) (66.8 ) Net income (loss) attributable to Crestwood Equity Partners LP $ (216.3 ) $ (1,666.9 ) $ 56.4 See accompanying notes. Schedule I Crestwood Equity Partners LP Parent Only Condensed Statements of Comprehensive Income (in millions) Year Ended December 31, 2016 2015 2014 Net loss $ (192.1 ) $ (2,303.7 ) $ (10.4 ) Change in fair value of Suburban Propane Partners, LP units 0.8 (2.7 ) (0.5 ) Comprehensive loss (191.3 ) (2,306.4 ) (10.9 ) Comprehensive income (loss) attributable to non-controlling 24.2 (636.8 ) (66.8 ) Comprehensive income (loss) attributable to Crestwood Equity Partners LP $ (215.5 ) $ (1,669.6 ) $ 55.9 See accompanying notes. Schedule I Crestwood Equity Partners LP Parent Only Condensed Statements of Cash Flows (in millions) Year Ended December 31, 2016 2015 2014 Cash flows from operating activities $ (3.5 ) $ (14.7 ) $ (25.3 ) Cash flows from investing activities 227.6 593.8 170.8 Cash flows from financing activities: Proceeds from the issuance of long-term debt — 771.7 734.0 Principal payments on long-term debt (0.2 ) (1,152.1 ) (746.2 ) Payments for debt-related deferred costs — — (1.8 ) Distributions paid to partners (219.8 ) (171.5 ) (102.5 ) Change in intercompany balances (4.2 ) (30.5 ) (25.4 ) Net cash used in financing activities (224.2 ) (582.4 ) (141.9 ) Net change in cash (0.1 ) (3.3 ) 3.6 Cash at beginning of period 0.4 3.7 0.1 Cash at end of period $ 0.3 $ 0.4 $ 3.7 See accompanying notes. Schedule I Crestwood Equity Partners LP Parent Only Notes to Condensed Financial Statements Note 1. Basis of Presentation In the parent-only financial statements, our investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. Our share of net income of our unconsolidated subsidiaries is included in consolidated income using the equity method. The parent-only financial statements should be read in conjunction with our consolidated financial statements. The financial statements for the years ended December 31, 2015 and 2014 include reclassifications that were made to conform to the current year presentation, none of which impacted previously reported net income (loss) or partners’ capital. In particular, the condensed statements of operations were modified to consider the impact of net income (loss) attributable to non-controlling non-controlling Note 2. Distributions During the years ended December 31, 2016, 2015 and 2014, we received cash distributions from Crestwood Midstream Partners LP of approximately $227.6 million, $31.4 million and $72.4 million. |
Schedule - Schedule II - Crestw
Schedule - Schedule II - Crestwood Equity Parnters LP - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2016 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule - Schedule II - Crestwood Equity Parnters LP - Valuation and Qualifying Accounts | Schedule II Crestwood Equity Partners LP Valuation and Qualifying Accounts For the Years Ended December 31, 2016, 2015 and 2014 (in millions) Balance at beginning of period Charged to costs and expenses Other Additions Deductions (write-offs) Balance at end of period Allowance for doubtful accounts 2016 $ 0.4 $ 1.9 $ — $ (0.4 ) $ 1.9 2015 0.1 — 0.4 (0.1 ) 0.4 2014 0.1 — — — 0.1 |
Certain Balance Sheet Informa28
Certain Balance Sheet Information | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Certain Balance Sheet Information | Note 3 – Certain Balance Sheet Information Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following at March 31, 2017 and December 31, 2016 ( in millions CEQP CMLP March 31, December 31, March 31, December 31, 2017 2016 2017 2016 Accrued expenses $ 32.6 $ 46.9 $ 31.4 $ 45.5 Accrued property taxes 4.9 4.2 4.9 4.2 Accrued natural gas purchases 3.8 4.9 3.8 4.9 Tax payable 1.7 1.2 — — Interest payable 26.1 22.8 26.1 22.8 Accrued additions to property, plant and equipment 1.6 1.7 1.6 1.7 Capital leases 1.2 1.3 1.2 1.3 Deferred revenue 6.2 7.5 6.2 7.5 Total accrued expenses and other liabilities $ 78.1 $ 90.5 $ 75.2 $ 87.9 |
Basis of Presentation and Sum29
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Accounting Policies [Abstract] | ||
Principles of Consolidation | Principles of Consolidation We consolidate entities when we have the ability to control or direct the operating and financial decisions of the entity or when we have a significant interest in the entity that gives us the ability to direct the activities that are significant to that entity. The determination to consolidate or apply the equity method of accounting to an entity can also require us to evaluate whether that entity is considered a variable interest entity. This evaluation, along with the determination of our ability to control, direct or exert significant influence over an entity involves the use of judgment. We apply the equity method of accounting where we can exert significant influence over, but do not control or direct the policies, decisions or activities of an entity and in the case of a variable interest entity (VIE), are not the primary beneficiary. We use the cost method of accounting where we are unable to exert significant influence over the entity. All of our consolidated entities and equity method investments are not VIEs except for our investment in Crestwood Permian Basin Holdings LLC (Crestwood Permian). In October 2016, Crestwood Infrastructure Holdings LLC (Crestwood Infrastructure), our wholly-owned subsidiary, and an affiliate of First Reserve formed Crestwood Permian to fund and own a gathering system and other potential operations in the Delaware Permian. Crestwood Permian is a VIE because it does not have sufficient equity at risk to fund its current activities (i.e., the construction of the Nautilus gathering system) without additional capital contributions from us and First Reserve, and CEQP has provided a guarantee to a third party that requires CEQP to fund 100% of the costs to build the Nautilus gathering system (which is currently estimated to cost approximately $180 million) if Crestwood Permian fails to do so. We account for our investment in Crestwood Permian as an equity method investment because we are not the primary beneficiary of the VIE as of December 31, 2016. On June 3, 2016, our wholly-owned subsidiary, Crestwood Pipeline and Storage Northeast LLC (Crestwood Northeast) and Con Edison Gas Pipeline and Storage Northeast, LLC (CEGP), a wholly-owned subsidiary of Consolidated Edison, Inc. (Consolidated Edison), formed the Stagecoach Gas Services LLC (Stagecoach Gas) joint venture, to own and further develop our natural gas storage and transportation business located in the Northeast (the NE S&T assets). We contributed to the joint venture the entities owning the NE S&T assets, CEGP contributed $975 million in exchange for a 50% equity interest in Stagecoach Gas, and Stagecoach Gas distributed to us the net cash proceeds received from CEGP. The assets contributed to the joint venture were previously included in our storage and transportation segment. We deconsolidated the NE S&T assets as a result of the contribution of these assets to Stagecoach Gas and began accounting for our 50% equity interest in Stagecoach Gas under the equity method of accounting. The deconsolidation of our NE S&T assets resulted in a decrease of $1,127.6 million in property, plant and equipment, net, $8.5 million of intangible assets, net and $11.2 million of other assets and (liabilities), net. For a discussion of the decrease in goodwill associated with this joint venture transaction, see “Goodwill” below. See Note 6 for a further discussion of our investment in Stagecoach Gas. | |
Use of Estimates | Use of Estimates The preparation of our consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the amounts we report as assets, liabilities, revenues and expenses and our disclosures in these consolidated financial statements. Actual results can differ from those estimates. | |
Cash | Cash We consider all highly liquid investments with an original maturity of less than three months to be cash. | |
Inventory | Inventory Inventory for our marketing, supply and logistics operations are stated at the lower of cost or market and cost is computed predominantly using the average cost method. Our inventory consists primarily of crude oil and NGLs of approximately $56.7 million and $35.4 million at December 31, 2016 and 2015. | |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment is recorded at is original cost of construction or, upon acquisition, at the fair value of the assets acquired. For assets we construct, we capitalize direct costs, such as labor and materials, and indirect costs, such as overhead and interest. We capitalize major units of property replacements or improvement and expense minor items. Depreciation is computed by the straight-line method over the estimated useful lives of the assets, as follows: Years Gathering systems and pipelines 20 Facilities and equipment 20 Buildings, rights-of-way 20 – 40 Office furniture and fixtures 5 – 10 Vehicles 5 We deplete salt deposits included in our property, plant and equipment utilizing the unit of production method. We evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such events or changes in circumstances are present, a loss is recognized if the carrying value of the asset is in excess of the sum of the undiscounted cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset, which is typically based on discounted cash flow projections using assumptions as to revenues, costs and discount rates typical of third party market participants, which is a Level 3 fair value measurement. We did not record impairments of our property, plant and equipment during the year ended December 31, 2016. During 2015 and 2014, we recorded the following impairments of our property, plant and equipment and we reflected these impairments in loss on long-lived assets in our consolidated statements of operations: • During 2015 and 2014, we incurred $8.5 million and $13.2 million of impairments of our property, plant and equipment related to our Granite Wash gathering and processing operations, which resulted from decreases in forecasted cash flows for those operations given that our major customer of those assets declared bankruptcy and ceased substantial drilling in the Granite Wash in the near future given current and future anticipated market conditions related to normal gas and NGLs. The fair value of our property, plant and equipment related to our Granite Wash operations was $11.2 million as of December 31, 2015. • During 2015, Crestwood Equity incurred a $354.4 million impairment of its property, plant and equipment related to its Barnett gathering and processing operations, which resulted from the actions of our primary customer in the Barnett Shale, Quicksilver Resources, Inc. (Quicksilver), related to its filing for protection under Chapter 11 of the U.S. Bankruptcy Code in 2015. The fair value of our property, plant and equipment related to our Barnett operations was $298.5 million as of December 31, 2015. Crestwood Midstream did not record an impairment of its property, plant and equipment related to its gathering and processing assets in the Barnett Shale as the sum of the undiscounted cash flows expected to result from the use of the assets and their eventual disposition exceeded the carrying value of the property, plant and equipment by over 30%. As a result, Crestwood Midstream’s property, plant and equipment exceeds Crestwood Equity’s property, plant and equipment related to its gathering and processing assets in the Barnett Shale as of December 31, 2016 and 2015. • During 2015, we incurred $61.9 million and $45.7 million of impairments of property, plant and equipment related to our Fayetteville and Haynesville gathering and processing operations, respectively, which resulted from decreases in forecasted cash flows for those operations given that our customers for those assets have ceased any substantial drilling in the Fayetteville and Haynesville Shales in the near future given current and future anticipated market conditions related to natural gas. The fair value of our property, plant and equipment related to our Fayetteville and Haynesville operations was $59.3 million and $3.8 million, respectively, as of December 31, 2015. • During 2015, we incurred a $31.2 million impairment of our property, plant and equipment related to our Watkins Glen development project in our marketing, supply and logistics segment, which resulted from continued delays and uncertainties in the permitting of our proposed NGL storage facility. The fair value of our property, plant and equipment related to our Watkins Glen development project was $6.7 million as of December 31, 2015. At December 31, 2015, our estimates of fair value considered a number of factors, including the potential value we would receive if we sold the asset, a 15% discount rate and projected cash flows, which is a Level 3 fair value measurement. Projected cash flows of our property, plant and equipment are generally based on current and anticipated future market conditions, which require significant judgment to make projections and assumptions about pricing, demand, competition, operating costs, constructions costs, legal and regulatory issues and other factors that may extend many years into the future and are often outside of our control. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. | |
Identifiable Intangible Assets | Identifiable Intangible Assets Our identifiable intangible assets consist of customer accounts, covenants not to compete, trademarks and certain revenue contracts. Customer accounts, covenants not to compete, trademarks and certain of our revenue contracts have arisen from acquisitions. We amortize certain of our revenue contracts based on the projected cash flows associated with these contracts if the projected cash flows are readily determinable, otherwise we amortize our revenue contracts on a straight-line basis. We recognize acquired intangible assets separately if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the intangible asset can be sold, transferred, licensed, rented or exchanged, regardless of the acquirer’s intent to do so. During 2016, 2015 and 2014, we recorded the following impairments of our intangible assets and we reflected these impairments in loss on long-lived assets in our consolidated statements of operations: • During 2016, we incurred a $31.4 million impairment of intangible assets related to our MS&L Trucking operations, which resulted from the impact of increased competition on our Trucking business and the loss of several key customer relationships that were acquired in 2013 to which the intangible assets related. The fair value of our intangible assets related to our MS&L Trucking operations was $3.7 million as of December 31, 2016. • During 2015, Crestwood Equity fully impaired $238.9 million of its intangible assets related to its Barnett gathering and processing operations, which resulted from the actions of our primary customer in the Barnett Shale, Quicksilver, related to filing for protection under Chapter 11 of the U.S. Bankruptcy Code in 2015. • During 2015, we fully impaired $70.9 million and $6.0 million of intangible assets related to our Fayetteville and Haynesville gathering and processing operations, respectively, which resulted from decreases in forecasted cash flows for those operations given that our customers for those assets have ceased any substantial drilling in the Fayetteville and Haynesville Shales in the near future given current and future anticipated market conditions related to natural gas. • During 2014, we fully impaired $20 million of intangible assets related to our Granite Wash gathering and processing operations, which resulted from decreases in forecasted cash flows for those operations given that our major customer of those assets declared bankruptcy and ceased substantial drilling in the Granite Wash in the near future given current and future anticipated market conditions related to natural gas and NGLs. At December 31, 2016, our estimates of fair value considered a number of factors, including the potential value we would receive if we sold the asset, a 19% discount rate and projected cash flows, which is a Level 3 fair value measurement. Projected cash flows of our intangible assets are generally based on current and anticipated future market conditions, which require significant judgment to make projections and assumptions about pricing, demand, competition, operating costs, construction costs, legal and regulatory issues and other factors that may extend many years into the future and are often outside of our control. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. Certain intangible assets are amortized on a straight-line basis over their estimated economic lives, as follows: Weighted- Life (years) Customer accounts 20 Covenants not to compete 5 Trademarks 6 - 8 | |
Goodwill | Goodwill Our goodwill represents the excess of the amount we paid for a business over the fair value of the net identifiable assets acquired. We evaluate goodwill for impairment annually on December 31, and whenever events indicate that it is more likely than not that the fair value of a reporting unit could be less than its carrying amount. This evaluation requires us to compare the fair value of each of our reporting units to its carrying value (including goodwill). If the fair value exceeds the carrying amount, goodwill of the reporting unit is not considered impaired. We estimate the fair value of our reporting units based on a number of factors, including discount rates, projected cash flows and the potential value we would receive if we sold the reporting unit. We also compare the total fair value of our reporting units to our overall enterprise value, which considers the market value for our common and preferred units. Estimating projected cash flows requires us to make certain assumptions as it relates to the future operating performance of each of our reporting units (which includes assumptions, among others, about estimating future operating margins and related future growth in those margins, contracting efforts and the cost and timing of facility expansions) and assumptions related to our customers, such as their future capital and operating plans and their financial condition. When considering operating performance, various factors are considered such as current and changing economic conditions and the commodity price environment, among others. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. If the assumptions embodied in the projections prove inaccurate, we could incur a future impairment charge. In addition, the use of the income approach to determine the fair value of our reporting units (see further discussion of the use of the income approach below) could result in a different fair value if we had utilized a market approach, or a combination thereof. We acquired substantially all of our reporting units in 2013, 2012 and 2011, which required us to record the assets, liabilities and goodwill of each of those reporting units at fair value on the date they were acquired. As a result, any level of decrease in the forecasted cash flows of these businesses or increases in the discount rates utilized to value those businesses from their respective acquisition dates would likely result in the fair value of the reporting unit falling below the carrying value of the reporting unit, and could result in an assessment of whether that reporting unit’s goodwill is impaired. Current commodity prices are significantly lower compared to commodity prices during 2014, and that decrease has adversely impacted forecasted cash flows, discount rates and stock/unit prices for most companies in the midstream industry, including us. As a result, we recorded goodwill impairments on several of our reporting units during 2016, 2015 and 2014. The following table summarizes the goodwill of our various reporting units ( in millions Goodwill 31, 2014 Goodwill 1, 2015 Goodwill 31, 2015 Goodwill 31, 2015 Impact of 31, 2016 Goodwill 31, 2016 Goodwill Ended December 31, 2016 (1) Goodwill 31, 2016 G&P Fayetteville $ 4.3 $ 72.5 $ 72.5 $ — $ — $ — $ — $ — Granite Wash 14.2 — — — — — — — Marcellus — 8.6 — 8.6 — 8.6 — — Arrow — 45.9 — 45.9 — — — 45.9 S&T Northeast Storage and Transportation — 726.3 — 726.3 726.3 — — — COLT — 668.3 623.4 44.9 — 44.9 — — MS&L West Coast — 85.9 85.9 — — — 2.4 2.4 Supply and Logistics — 266.2 99.0 167.2 — 65.5 — 101.7 Storage and Terminals — 104.2 53.7 50.5 — 14.1 — 36.4 US Salt 2.2 12.6 — 12.6 — — — 12.6 Trucking — 177.9 148.4 29.5 — 29.5 — — Watkins Glen 28.1 66.2 66.2 — — — — — Total Crestwood Midstream $ 48.8 $ 2,234.6 $ 1,149.1 $ 1,085.5 $ 726.3 $ 162.6 $ 2.4 $ 199.0 Barnett (G&P) — 257.2 257.2 — — — — — Total Crestwood Equity $ 48.8 $ 2,491.8 $ 1,406.3 $ 1,085.5 $ 726.3 $ 162.6 $ 2.4 $ 199.0 (1) In December 2016, we acquired four NGL terminals for our MS&L segment for approximately $7.2 million with total goodwill of approximately $2.4 million. This acquisition was not material to our consolidated financial statements as of and for the year ended December 31, 2016. The goodwill impairments recorded during 2016 related to our G&P Marcellus operations, our MS&L Supply and Logistics and Storage and Terminals operations, our S&T COLT operations and our MS&L Trucking operations. The 2016 goodwill impairments on our Marcellus, Supply and Logistics, and Storage and Terminals operations primarily resulted from increasing the discount rates utilized in determining the fair value of those reporting units considering the significant decrease in the market price of our common units during the first quarter of 2016 and the continued decrease in commodity prices and its impact on the midstream industry and our customers. The 2016 goodwill impairments on our COLT and Trucking operations also resulted from those factors, but in addition they were impacted by (i) the expiration of two key crude-by-rail The goodwill impairments recorded during 2015 and 2014 primarily resulted from decreasing forecasted cash flows and increasing the discount rates utilized in determining the fair value of the reporting units considering the continued decrease in commodity prices and its impact on the midstream industry and our customers. We utilized the income approach to determine the fair value of our reporting units given the limited availability of comparable market-based transactions during 2015 and 2014, and we utilized discount rates ranging from 10% to 16% in 2015 and 9% to 12% in 2014 in applying the income approach to determine the fair value of our reporting units with goodwill as of December 31, 2015 and 2014. In addition to the goodwill impairments recorded by Crestwood Midstream as reflected in the table above, Crestwood Equity recorded a goodwill impairment of its Barnett reporting unit of approximately $257.2 million in 2015. The impairment primarily resulted from increasing the discount rate utilized in determining the fair value of the reporting unit, considering the actions of its primary customer in the Barnett Shale during 2015, Quicksilver, related to its filing for protection under Chapter 11 of the U.S. Bankruptcy Code in March 2015. | |
Investment in Unconsolidated Affiliates | Investment in Unconsolidated Affiliates Equity method investments in which we exercise significant influence, but do not control and are not the primary beneficiary, are accounted for using the equity method of accounting. Differences in the basis of investments and the separate net asset values of the investees, if any, are amortized into net income or loss over the remaining useful lives of the underlying assets and liabilities, except for the excess related to goodwill. We evaluate our equity method investments for impairment when events or circumstances indicate that the carrying value of the equity method investment may be impaired and that impairment is other than temporary. If an event occurs, we evaluate the recoverability of our carrying value based on the fair value of the investment. If an impairment is indicated, or if we decide to sell an investment in unconsolidated affiliate, we adjust the carrying values of the asset downward, if necessary, to their estimated fair values. During 2015, we recorded a $51.4 million and $23.4 million impairment of our Jackalope Gas Gathering Services, L.L.C. (Jackalope) and Powder River Basin Industrial Complex, LLC (PRBIC) equity method investments, respectively, as a result of decreasing forecasted cash flows and increasing the discount rates utilized in determining the fair value of the equity method investments considering the continued decrease in commodity prices and its impact on the midstream industry and our equity method investments’ customers, which is a Level 3 fair value measurement. We did not record impairments of our equity method investments during the years ended December 31, 2016 or December 31, 2014. We estimated the fair value of our equity method investments at December 31, 2015 based on projected cash flows, a 15.5% discount rate and the potential value we would receive if we sold the equity method investment. Estimating projected cash flows requires us to make certain assumptions as it relates to the future operating performance of each of our equity method investments (which includes assumptions, among others, about estimating future operating margins and related future growth in those margins, contracting efforts and the cost and timing of facility expansions) and assumptions related to our equity method investments’ customers, such as future capital and operating plans and their financial condition. When considering operating performance, various factors are considered such as current and changing economic conditions and the commodity price environment, among others. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. | |
Asset Retirement Obligations | Asset Retirement Obligations An asset retirement obligation (ARO) is an estimated liability for the cost to retire a tangible asset. We record a liability for legal or contractual obligations to retire our long-lived assets associated with right-of-way | |
Deferred Financing Costs | Deferred Financing Costs Deferred financing costs represent costs associated with obtaining long-term financing and are amortized over the term of the related debt using a method which approximates the effective interest method and has a weighted average life of six years. Effective January 1, 2016, we adopted the provisions of Accounting Standards Update (ASU) 2015-03, Interest (Subtopic 835-30), | |
Revenue Recognition | Revenue Recognition We gather, treat, compress, store, transport and sell various commodities (including crude oil, natural gas, NGLs and water) pursuant to fixed-fee percent-of-proceeds We recognize revenues for these services and products when all of the following criteria are met: • services have been rendered or products delivered or sold; • persuasive evidence of an exchange arrangement exists; • the price for services is fixed or determinable; and • collectability is reasonably assured. We record deferred revenue when we receive amounts from our customers but have not met the criteria listed above. We recognize deferred revenue in our consolidated statements of operations when the criteria has been met and all services have been rendered. At December 31, 2016 and 2015, we had deferred revenue of approximately $7.5 million and $14.2 million, which is reflected in accrued expenses and other liabilities on our consolidated balance sheets. | |
Credit Risk and Concentrations | Credit Risk and Concentrations Inherent in our contractual portfolio are certain credit risks. Credit risk is the risk of loss from nonperformance by suppliers, customers or financial counterparties to a contract. We take an active role in managing credit risk and have established control procedures, which are reviewed on an ongoing basis. We attempt to minimize credit risk exposure through credit policies and periodic monitoring procedures as well as through customer deposits, letters of credit and entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate. | |
Income Taxes | Income Taxes Crestwood Equity is a master limited partnership and Crestwood Midstream is a limited partnership. Partnerships are generally not subject to federal income tax, although publicly-traded partnerships are treated as corporations for federal income tax purposes and therefore are subject to federal income tax, unless the partnership generates at least 90% of its gross income from qualifying sources. If the qualifying income requirement is satisfied, the publicly-traded partnership will be treated as a partnership for federal income tax purposes. We satisfy the qualifying income requirement and are treated as a partnership for federal and state income tax purposes. Our consolidated earnings are included in the federal and state income tax returns of our partners. However, legislation in certain states allows for taxation of partnerships, and as such, certain state taxes have been included in our accompanying financial statements as income taxes due to the nature of the tax in those particular states as discussed below. In addition, federal and state income taxes are provided on the earnings of the subsidiaries incorporated as taxable entities. We are required to recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax basis of assets and liabilities using expected rates in effect for the year in which the differences are expected to reverse. We are responsible for the Texas Margin tax computed on the Texas franchise tax returns. The margin tax qualifies as an income tax under GAAP, which requires us to recognize the impact of this tax on the temporary differences between the financial statement assets and liabilities and their tax basis attributable to such tax. Net earnings for financial statement purposes may differ significantly from taxable income reportable to unitholders as a result of differences between the tax basis and the financial reporting basis of assets and liabilities and the taxable income allocation requirements under the partnership agreement. | |
Environmental Costs and Other Contingencies | Environmental Costs and Other Contingencies We recognize liabilities for environmental and other contingencies when there is an exposure that indicates it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. Where the most likely outcome of a contingency can be reasonably estimated, we accrue a liability for that amount. Where the most likely outcome cannot be estimated, a range of potential losses is established and if no one amount in that range is more likely than any other, the low end of range is accrued. We record liabilities for environmental contingencies at their undiscounted amounts on our consolidated balance sheets as accrued expenses and other liabilities when environmental assessments indicate that remediation efforts are probable and costs can be reasonably estimated. Estimates of our liabilities are based on currently available facts and presently enacted laws and regulations, taking into consideration the likely effects of other societal and economic factors. These estimates are subject to revision in future periods based on actual costs or new circumstances. We capitalize costs that benefit future periods and recognize a current period charge in operations and maintenance expenses when clean-up We evaluate potential recoveries of amounts from third parties, including insurance coverage, separately from our liability. Recovery is evaluated based on the solvency of the third party, among other factors. When recovery is assured, we record and report an asset separately from the associated liability on our consolidated balance sheet. | |
Price Risk Management Activities | Price Risk Management Activities We utilize certain derivative financial instruments to (i) manage our exposure to commodity price risk, specifically, the related change in the fair value of inventory, as well as the variability of cash flows related to forecasted transactions; (ii) ensure the availability of adequate physical supply of commodity; and (iii) manage our exposure to the interest rate risk associated with fixed and variable rate borrowings. We record all derivative instruments on the balance sheet at their fair values as either assets or liabilities measured at fair value. Changes in the fair value of these derivative financial instruments are recorded through current earnings. We did not have any derivatives identified as fair value hedges or cash flow hedges for accounting purposes during the years ended December 31, 2016, 2015 or 2014. | |
Unit-Based Compensation | Unit-Based Compensation Long-term incentive awards are granted under the Crestwood Equity incentive plan. Unit-based compensation awards consist of restricted units that are valued at the closing market price of CEQP’s common units on the date of grant, which reflects the fair value of such awards. For those awards that are settled in cash, the associated liability is remeasured at every balance sheet date through settlement, such that the vested portion of the liability is adjusted to reflect its revised fair value through compensation expense. We generally recognize the expense associated with the award over the vesting period. | |
New Accounting Pronouncements Issued But Not Yet Adopted | New Accounting Pronouncements Issued But Not Yet Adopted As of March 31, 2017, the following accounting standards had not yet been adopted by us: In May 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09, Revenue from Contracts with Customers, non-cash In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment | New Accounting Pronouncements Issued But Not Yet Adopted As of December 31, 2016, the following accounting standards had not yet been adopted by us: In May 2014, the FASB issued (ASU) 2014-09, Revenue from Contracts with Customers, non-cash In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting transactions, including the classification of awards as either equity or liabilities and presentation on the statement of cash flows. We adopted the provisions of this standard effective January 1, 2017 and it is not anticipated to have a material impact on our consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments of cash flows. We expect to adopt the provisions of this standard effective January 1, 2018 and are currently evaluating the impact that this standard may have on our consolidated financial statements. In January 2017, the FASB issue ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment |
Significant Accounting Policies | Significant Accounting Policies There were no material changes in our significant accounting policies from those described in our 2016 Annual Report on Form 10-K. |
Basis of Presentation and Sum30
Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Accounting Policies [Abstract] | ||
Estimated Useful Lives Of Property, Plant And Equipment | Depreciation is computed by the straight-line method over the estimated useful lives of the assets, as follows: Years Gathering systems and pipelines 20 Facilities and equipment 20 Buildings, rights-of-way 20 – 40 Office furniture and fixtures 5 – 10 Vehicles 5 | |
Intangible Assets, Useful life | Certain intangible assets are amortized on a straight-line basis over their estimated economic lives, as follows: Weighted- Life (years) Customer accounts 20 Covenants not to compete 5 Trademarks 6 - 8 Intangible assets consisted of the following at December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Customer accounts $ 541.9 $ 583.7 $ 541.9 $ 583.7 Covenants not to compete 1.0 6.6 1.0 5.6 Gas gathering, compression and processing contracts 325.2 325.2 325.2 325.2 Acquired storage contracts — 29.0 — 29.0 Trademarks 30.5 31.3 15.0 15.8 898.6 975.8 883.1 959.3 Less: accumulated amortization 241.2 206.6 230.2 197.9 Total intangible assets, net $ 657.4 $ 769.2 $ 652.9 $ 761.4 The following table summarizes the total of accumulated amortization of intangible assets by the type of intangible asset at December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Customer accounts $ 162.4 $ 130.1 $ 162.4 $ 130.1 Covenants not to compete — 2.5 — 1.7 Gas gathering, compression and processing contracts 63.2 44.3 63.2 44.3 Acquired storage contracts — 18.5 — 18.5 Trademarks 15.6 11.2 4.6 3.3 Total accumulated amortization $ 241.2 $ 206.6 $ 230.2 $ 197.9 | |
Schedule of Goodwill | The following table summarizes the goodwill of our various reporting units ( in millions Goodwill 31, 2014 Goodwill 1, 2015 Goodwill 31, 2015 Goodwill 31, 2015 Impact of 31, 2016 Goodwill 31, 2016 Goodwill Ended December 31, 2016 (1) Goodwill 31, 2016 G&P Fayetteville $ 4.3 $ 72.5 $ 72.5 $ — $ — $ — $ — $ — Granite Wash 14.2 — — — — — — — Marcellus — 8.6 — 8.6 — 8.6 — — Arrow — 45.9 — 45.9 — — — 45.9 S&T Northeast Storage and Transportation — 726.3 — 726.3 726.3 — — — COLT — 668.3 623.4 44.9 — 44.9 — — MS&L West Coast — 85.9 85.9 — — — 2.4 2.4 Supply and Logistics — 266.2 99.0 167.2 — 65.5 — 101.7 Storage and Terminals — 104.2 53.7 50.5 — 14.1 — 36.4 US Salt 2.2 12.6 — 12.6 — — — 12.6 Trucking — 177.9 148.4 29.5 — 29.5 — — Watkins Glen 28.1 66.2 66.2 — — — — — Total Crestwood Midstream $ 48.8 $ 2,234.6 $ 1,149.1 $ 1,085.5 $ 726.3 $ 162.6 $ 2.4 $ 199.0 Barnett (G&P) — 257.2 257.2 — — — — — Total Crestwood Equity $ 48.8 $ 2,491.8 $ 1,406.3 $ 1,085.5 $ 726.3 $ 162.6 $ 2.4 $ 199.0 (1) In December 2016, we acquired four NGL terminals for our MS&L segment for approximately $7.2 million with total goodwill of approximately $2.4 million. This acquisition was not material to our consolidated financial statements as of and for the year ended December 31, 2016. | |
Schedule of Goodwill | The following table summarizes goodwill impairments of certain of our reporting units recorded during the three months ended March 31, 2016 ( in millions Gathering and Processing Marcellus $ 8.6 Storage and Transportation COLT 13.7 Marketing, Supply and Logistics Supply and Logistics 65.5 Storage and Terminals 14.1 Trucking 7.8 Total $ 109.7 |
Certain Balance Sheet Informa31
Certain Balance Sheet Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Balance Sheet Related Disclosures [Abstract] | |
Property, Plant And Equipment | Property, plant and equipment of the following at December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Gathering systems and pipelines and related assets $ 639.4 $ 1,075.7 $ 782.3 $ 1,218.5 Facilities and equipment 1,328.3 1,505.9 1,513.4 1,691.0 Buildings, land, rights-of-way, 315.4 833.4 319.1 837.1 Vehicles 45.7 46.3 44.0 44.6 Construction in process 85.9 114.5 85.9 114.5 Base gas — 32.0 — 32.0 Salt deposits 120.5 120.5 120.5 120.5 Office furniture and fixtures 20.2 19.4 20.3 19.5 2,555.4 3,747.7 2,885.5 4,077.7 Less: accumulated depreciation and depletion 457.8 436.9 587.1 552.0 Total property, plant and equipment, net $ 2,097.6 $ 3,310.8 $ 2,298.4 $ 3,525.7 |
Schedule of Intangible Assets, Future Amortization Expense | Estimated amortization of our intangible assets for the next five years is as follows ( in millions CEQP CMLP Year Ending December 31, 2017 $ 53.7 $ 50.6 2018 43.6 42.2 2019 41.9 41.9 2020 41.9 41.9 2021 41.9 41.9 |
Certain Balance Sheet Informa32
Certain Balance Sheet Information (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Schedule of Accrued Liabilities | Accrued expenses and other liabilities consisted of the following at March 31, 2017 and December 31, 2016 ( in millions CEQP CMLP March 31, December 31, March 31, December 31, 2017 2016 2017 2016 Accrued expenses $ 32.6 $ 46.9 $ 31.4 $ 45.5 Accrued property taxes 4.9 4.2 4.9 4.2 Accrued natural gas purchases 3.8 4.9 3.8 4.9 Tax payable 1.7 1.2 — — Interest payable 26.1 22.8 26.1 22.8 Accrued additions to property, plant and equipment 1.6 1.7 1.6 1.7 Capital leases 1.2 1.3 1.2 1.3 Deferred revenue 6.2 7.5 6.2 7.5 Total accrued expenses and other liabilities $ 78.1 $ 90.5 $ 75.2 $ 87.9 | Accrued expenses and other liabilities consisted of the following at December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Accrued expenses $ 46.9 $ 46.4 $ 45.5 $ 44.1 Accrued property taxes 4.2 4.8 4.2 4.8 Accrued natural gas purchases 4.9 1.5 4.9 1.5 Tax payable 1.2 0.5 — 0.5 Interest payable 22.8 26.2 22.8 26.2 Accrued additions to property, plant and equipment 1.7 10.4 1.7 10.4 Capital leases 1.3 1.6 1.3 1.6 Deferred revenue 7.5 14.2 7.5 14.2 Total accrued expenses and other liabilities $ 90.5 $ 105.6 $ 87.9 $ 103.3 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Schedule of Asset Retirement Obligations | The following table presents the changes in the net asset retirement obligations for the years ended December 31, 2016 and 2015 ( in millions December 31, 2016 2015 Net asset retirement obligation at January 1 $ 26.4 $ 23.8 Liabilities incurred 1.0 1.1 Liabilities settled (1.2 ) — Accretion expense 1.6 1.5 Net asset retirement obligation at December 31 $ 27.8 $ 26.4 |
Investments in Unconsolidated34
Investments in Unconsolidated Affiliates (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Equity Method Investments and Joint Ventures [Abstract] | ||
Equity Method Investments | Our net investments in and earnings from our unconsolidated affiliates are as follows ( in millions, unless otherwise stated Ownership Investment Earnings (Loss) from March 31, March 31, December 31, Three Months Ended 2017 2017 2016 2017 2016 Stagecoach Gas Services LLC (1) 50.00 % $ 864.9 $ 871.0 $ 6.0 $ — Jackalope Gas Gathering Services, L.L.C. (2) 50.00 % (3) 193.2 197.2 1.8 5.1 Tres Palacios Holdings LLC (4) 50.01 % 39.5 39.0 0.5 0.8 Powder River Basin Industrial Complex, LLC (5) 50.01 % 8.4 8.7 — 0.6 Crestwood Permian Basin Holdings LLC (6) 50.00 % (0.7 ) (0.5 ) (0.2 ) — Total $ 1,105.3 $ 1,115.4 $ 8.1 $ 6.5 (1) As of March 31, 2017, our equity in the underlying net assets of Stagecoach Gas Services LLC (Stagecoach Gas) exceeded our investment balance by approximately $51.4 million. This excess amount is entirely attributable to goodwill and, as such, is not subject to amortization. Our Stagecoach Gas investment is included in our storage and transportation segment. (2) As of March 31, 2017, our equity in the underlying net assets of Jackalope Gas Gathering Services, L.L.C. (Jackalope) exceeded our investment balance by approximately $0.8 million. We amortize this amount over 20 years, which represents the life of Jackalope’s gathering agreement with Chesapeake Energy Corporation (Chesapeake), and we reflect the amortization as an increase in our earnings from unconsolidated affiliates. Our Jackalope investment is included in our gathering and processing segment. (3) Excludes non-controlling (4) As of March 31, 2017, our equity in the underlying net assets of Tres Palacios Holdings LLC (Tres Holdings) exceeded our investment balance by approximately $27.5 million. We amortize this amount over the life of the Tres Palacios Gas Storage LLC (Tres Palacios) sublease agreement, and we reflect the amortization as an increase in our earnings from unconsolidated affiliates. Our Tres Holdings investment is included in our storage and transportation segment. (5) As of March 31, 2017, our equity in the underlying net assets of Powder River Basin Industrial Complex, LLC (PRBIC) exceeded our investment balance by approximately $15.1 million. We amortize a portion of this amount over the life of PRBIC’s property, plant and equipment and its agreement with Chesapeake, and we reflect the amortization as an increase in our earnings from unconsolidated affiliates. Our PRBIC investment is included in our storage and transportation segment. (6) As of March 31, 2017, our equity in the underlying net assets of Crestwood Permian approximated our investment balance. Our Crestwood Permian investment is included in our gathering and processing segment. Summarized Financial Information of Unconsolidated Affiliates Below is the summarized operating results for our significant unconsolidated affiliates ( in millions; amounts represent 100% of unconsolidated affiliate information Three Months Ended March 31, 2017 2016 Operating Operating Net Income Operating Operating Net Stagecoach Gas $ 42.0 $ 19.4 $ 22.6 $ — $ — $ — Other (1) 19.9 16.2 3.7 30.4 18.9 11.5 Total $ 61.9 $ 35.6 $ 26.3 $ 30.4 $ 18.9 $ 11.5 (1) Includes our Jackalope, Tres Holdings, PRBIC and Crestwood Permian equity investments. We amortize the excess basis in our equity investments as an increase in our earnings from unconsolidated affiliates. We recorded amortization of the excess basis in our Jackalope equity investment of less than $0.1 million for both the three months ended March 31, 2017 and 2016. We recorded amortization of the excess basis in our Tres Holdings equity investment of approximately $0.3 million for both the three months ended March 31, 2017 and 2016. We recorded amortization of the excess basis in our PRBIC equity investment of approximately $0.2 million and $0.4 million for the three months ended March 31, 2017 and 2016. Distributions and Contributions Distributions Contributions Three Months Ended March 31, Three Months Ended 2017 2016 2017 2016 Stagecoach Gas (1) $ 12.1 $ — $ — $ — Jackalope 5.9 5.1 0.1 — Tres Holdings (1) — — — 5.5 PRBIC 0.3 0.6 — — Crestwood Permian — — — — Total $ 18.3 $ 5.7 $ 0.1 $ 5.5 (1) In May 2017, we received a cash distribution from Stagecoach Gas and Tres Holdings of approximately $11.7 million and $2.7 million, respectively. | December 31, 2016 2015 Current Non-Current Current Non-Current Members’ Current Non-Current Current Non-Current Members’ Stagecoach (1) $ 57.0 $ 1,807.6 $ 6.0 $ 4.1 $ 1,854.5 $ — $ — $ — $ — $ — Other (2) 45.7 640.6 19.5 73.3 593.5 34.3 677.8 20.9 75.7 615.5 Total $ 102.7 $ 2,448.2 $ 25.5 $ 77.4 $ 2,448.0 $ 34.3 $ 677.8 $ 20.9 $ 75.7 $ 615.5 For the Years Ended December 31, 2016 2015 2014 Operating Operating Net Income Operating Operating Net Income Operating Operating Net Income Stagecoach $ 99.3 $ 44.1 $ 55.3 $ — $ — $ — $ — $ — $ — Other (1) 116.1 103.9 12.0 104.7 79.5 24.9 35.6 30.4 5.2 Total $ 215.4 $ 148.0 $ 67.3 $ 104.7 $ 79.5 $ 24.9 $ 35.6 $ 30.4 $ 5.2 Ownership Investment Earnings (Loss) from December 31, December 31, Year Ended December 31, 2016 2016 2015 2016 2015 2014 Stagecoach Gas Services LLC 50.00 % $ 871.0 $ — $ 15.9 $ — $ — Jackalope Gas Gathering Services, L.L.C. 50.00 % (1) 197.2 202.4 20.8 (43.4 ) (3) 0.5 Tres Palacios Holdings LLC 50.01 % 39.0 36.8 (0.3 ) 2.5 0.2 Powder River Basin Industrial Complex, LLC (2) 50.01 % 8.7 15.1 (4.4 ) (3) (19.9 ) (3) (1.4 ) Crestwood Permian Basin Holdings LLC 50.00 % (0.5 ) — (0.5 ) — — Total $ 1,115.4 $ 254.3 $ 31.5 $ (60.8 ) $ (0.7 ) |
Risk Management (Tables)
Risk Management (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Risk Management Notional Amounts And Terms Of Companys Derivative Financial Instruments [Abstract] | ||
Notional Amounts and Terms of Company's Derivative Financial Instruments | The notional amounts and terms of our derivative financial instruments include the following at March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 Fixed Price Payor Fixed Price Receiver Fixed Price Payor Fixed Price Receiver Propane, crude and heating oil (MMBbls) 12.8 14.0 13.1 15.1 | The notional amounts and terms of our derivative financial instruments include the following at December 31, 2016 and 2015: December 31, 2016 December 31, 2015 Fixed Price Payor Fixed Price Receiver Fixed Price Payor Fixed Price Receiver Propane, crude and heating oil (MMBbls) 13.1 15.1 9.1 10.9 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | ||
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table reflects the carrying value (reduced for deferred financing costs associated with the respective notes) and fair value of our senior notes ( in millions March 31, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value 2020 Senior Notes $ 13.9 $ 14.2 $ 340.6 $ 350.2 2022 Senior Notes $ — $ — $ 429.3 $ 447.3 2023 Senior Notes $ 691.0 $ 728.6 $ 690.6 $ 722.6 2025 Senior Notes $ 491.6 $ 511.3 $ — $ — | The following table reflects the carrying value (reduced for deferred financing costs associated with the respective notes) and fair value of our CMLP senior notes ( in millions December 31, 2016 December 31, 2015 Carrying Fair Value Carrying Fair Crestwood Midstream 2020 Senior Notes $ 340.6 $ 350.2 $ 503.3 $ 382.3 Crestwood Midstream 2022 Senior Notes $ 429.3 $ 447.3 $ 588.4 $ 437.4 Crestwood Midstream 2023 Senior Notes $ 690.6 $ 722.6 $ 689.4 $ 491.8 |
Assets And Liabilities Measured At Fair Value On Recurring Basis | The following tables set forth by level within the fair value hierarchy, our financial instruments that were accounted for at fair value on a recurring basis at March 31, 2017 and December 31, 2016 ( in millions March 31, 2017 Fair Value of Derivatives Level 1 Level 2 Level 3 Gross Contract (1) Collateral/Margin Recorded Assets Assets from price risk management $ 1.3 $ 39.9 $ — $ 41.2 $ (34.3 ) $ (0.2 ) $ 6.7 Suburban Propane Partners, L.P. units (2) 3.9 — — 3.9 — — 3.9 Total assets at fair value $ 5.2 $ 39.9 $ — $ 45.1 $ (34.3 ) $ (0.2 ) $ 10.6 Liabilities Liabilities from price risk management $ 1.5 $ 41.3 $ — $ 42.8 $ (34.3 ) $ 0.9 $ 9.4 Total liabilities at fair value $ 1.5 $ 41.3 $ — $ 42.8 $ (34.3 ) $ 0.9 $ 9.4 December 31, 2016 Fair Value of Derivatives Level 1 Level 2 Level 3 Gross Fair Value Contract (1) Collateral/Margin Recorded Assets Assets from price risk management $ 0.6 $ 84.4 $ — $ 85.0 $ (67.8 ) $ (10.9 ) $ 6.3 Suburban Propane Partners, L.P. units (2) 4.3 — — 4.3 — — 4.3 Total assets at fair value $ 4.9 $ 84.4 $ — $ 89.3 $ (67.8 ) $ (10.9 ) $ 10.6 Liabilities Liabilities from price risk management $ 2.7 $ 90.2 $ — $ 92.9 $ (67.8 ) $ 3.5 $ 28.6 Total liabilities at fair value $ 2.7 $ 90.2 $ — $ 92.9 $ (67.8 ) $ 3.5 $ 28.6 (1) Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions as well as cash collateral held or placed with the same counterparties. (2) Amount is reflected in other assets on CEQP’s consolidated balance sheets. | The following tables set forth by level within the fair value hierarchy, our financial instruments that were accounted for at fair value on a recurring basis at December 31, 2016 and 2015 ( in millions December 31, 2016 Fair Value of Derivatives Level 1 Level 2 Level 3 Gross Contract (1) Collateral/Margin Recorded Assets Assets from price risk management $ 0.6 $ 84.4 $ — $ 85.0 $ (67.8 ) $ (10.9 ) $ 6.3 Suburban Propane Partners, L.P. units (2) 4.3 — — 4.3 — — 4.3 Total assets at fair value $ 4.9 $ 84.4 $ — $ 89.3 $ (67.8 ) $ (10.9 ) $ 10.6 Liabilities Liabilities from price risk management $ 2.7 $ 90.2 $ — $ 92.9 $ (67.8 ) $ 3.5 $ 28.6 Total liabilities at fair value $ 2.7 $ 90.2 $ — $ 92.9 $ (67.8 ) $ 3.5 $ 28.6 December 31, 2015 Fair Value of Derivatives Level 1 Level 2 Level 3 Gross Contract (1) Collateral/Margin Recorded Assets Assets from price risk management $ 0.5 $ 57.8 $ — $ 58.3 $ (13.7 ) $ (12.0 ) $ 32.6 Suburban Propane Partners, L.P. units (2) 3.4 — — 3.4 — — 3.4 Total assets at fair value $ 3.9 $ 57.8 $ — $ 61.7 $ (13.7 ) $ (12.0 ) $ 36.0 Liabilities Liabilities from price risk management $ 0.2 $ 41.3 $ — $ 41.5 $ (13.7 ) $ (20.4 ) $ 7.4 Total liabilities at fair value $ 0.2 $ 41.3 $ — $ 41.5 $ (13.7 ) $ (20.4 ) $ 7.4 (1) Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions as well as cash collateral held or placed with the same counterparties. |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Debt Disclosure [Abstract] | ||
Components Of Long-Term Debt | Long-term debt consisted of the following at March 31, 2017 and December 31, 2016 ( in millions March 31, December 31, Credit Facility $ 381.7 $ 77.0 2020 Senior Notes 13.8 338.8 Fair value adjustment of 2020 Senior Notes 0.1 1.8 2022 Senior Notes — 436.4 2023 Senior Notes 700.0 700.0 2025 Senior Notes 500.0 — Other 3.3 3.7 Less: deferred financing costs, net 33.8 34.0 Total debt 1,565.1 1,523.7 Less: current portion 14.8 1.0 Total long-term debt, less current portion $ 1,550.3 $ 1,522.7 | Long-term debt consisted of the following at December 31, 2016 and 2015, ( in millions December 31, 2016 December 31, 2015 Credit Facility $ 77.0 $ 735.0 2020 Senior Notes 338.8 500.0 Fair value adjustment of 2020 Senior Notes 1.8 3.3 2022 Senior Notes 436.4 600.0 2023 Senior Notes 700.0 700.0 Other 3.7 5.3 Less: deferred financing costs, net 34.0 40.9 Total Crestwood Midstream debt 1,523.7 2,502.7 Other — 0.2 Total Crestwood Equity debt 1,523.7 2,502.9 Less: current portion 1.0 1.1 Total long-term debt, less current portion $ 1,522.7 $ 2,501.8 |
Schedule of Maturities of Long-term Debt | The aggregate maturities of principal amounts on our outstanding long-term debt and other notes payable as of December 31, 2016 for the next five years and in total thereafter are as follows ( in millions 2017 $ 1.0 2018 0.9 2019 1.0 2020 417.8 2021 0.3 Thereafter 1,136.7 Total debt $ 1,557.7 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | The (provision) benefit for income taxes for the years ended December 31, 2016, 2015, and 2014 consisted of the following (in millions) CEQP CMLP Year Ended December 31, Year Ended December 31, 2016 2015 2014 2016 2015 2014 Current: Federal $ (3.2 ) $ (1.6 ) $ (5.0 ) $ — $ — $ — State (0.2 ) (0.6 ) (1.3 ) 0.2 (0.3 ) (0.2 ) Total current (3.4 ) (2.2 ) (6.3 ) 0.2 (0.3 ) (0.2 ) Deferred: Federal 3.0 2.9 5.3 — — — State 0.1 0.7 (0.1 ) (0.2 ) 0.3 (0.7 ) Total deferred 3.1 3.6 5.2 (0.2 ) 0.3 (0.7 ) (Provision) benefit for income taxes $ (0.3 ) $ 1.4 $ (1.1 ) $ — $ — $ (0.9 ) |
Schedule of Deferred Tax Assets and Liabilities | Components of our deferred income taxes at December 31, 2016 and 2015 are as follows (in millions). CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Deferred tax asset: Basis difference in stock of company $ 0.2 $ 0.5 $ — $ — Total deferred tax asset 0.2 0.5 — — Deferred tax liability: Basis difference in stock of acquired company (5.5 ) (8.9 ) (0.7 ) (0.4 ) Total deferred tax liability (5.5 ) (8.9 ) (0.7 ) (0.4 ) Net deferred tax liability $ (5.3 ) $ (8.4 ) $ (0.7 ) $ (0.4 ) |
Partners' Capital (Tables)
Partners' Capital (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Schedule of Distributions Made to Members or Limited Partners, by Distribution | A summary of CEQP’s limited partner quarterly cash distributions for the three months ended March 31, 2017 and 2016 is presented below: Record Date Payment Date Per Unit Rate Cash Distributions ( in millions ) 2017 February 7, 2017 February 14, 2017 $ 0.60 $ 41.8 2016 February 5, 2016 February 12, 2016 $ 1.375 $ 95.6 | A summary of CEQP’s limited partner quarterly cash distributions for the years ended December 31, 2016, 2015 and 2014 is presented below: Record Date Payment Date Per Unit Rate Cash ( in millions ) 2016 February 5, 2016 February 12, 2016 $ 1.375 $ 95.6 May 6, 2016 May 13, 2016 $ 0.60 41.4 August 5, 2016 August 12, 2016 $ 0.60 41.4 November 7, 2016 November 14, 2016 $ 0.60 41.4 $ 219.8 2015 February 6, 2015 February 13, 2015 $ 1.375 $ 25.8 May 8, 2015 May 15, 2015 $ 1.375 25.7 August 7, 2015 August 14, 2015 $ 1.375 25.7 November 6, 2015 November 13, 2015 $ 1.375 94.3 $ 171.5 2014 February 7, 2014 February 14, 2014 $ 1.375 $ 25.6 May 8, 2014 May 15, 2014 $ 1.375 25.7 August 7, 2014 August 14, 2014 $ 1.375 25.6 November 7, 2014 November 14, 2014 $ 1.375 25.6 $ 102.5 |
Schedule of Limited Partners' Capital Account by Class | The components of net income (loss) attributable to non-controlling (in millions) Year Ended December 31, 2016 2015 2014 Crestwood Niobrara preferred interests $ 24.2 $ 23.1 $ 16.8 CMLP net income attributable to non-controlling 24.2 23.1 16.8 Crestwood Midstream limited partner interests — (683.0 ) (100.8 ) Crestwood Midstream Class A preferred units — 23.1 17.2 CEQP net income (loss) attributable to non-controlling $ 24.2 $ (636.8 ) $ (66.8 ) | |
Crestwood Midstream Partners LP | ||
Schedule of Distributions Made to Members or Limited Partners, by Distribution | Record Date Payment Date Per Unit Rate Cash Distributions (in millions) 2015 February 6, 2015 February 13, 2015 $ 0.41 $ 74.3 May 8, 2015 May 15, 2015 $ 0.41 74.3 August 7, 2015 August 14, 2015 $ 0.41 74.3 $ 222.9 2014 February 7, 2014 February 14, 2014 $ 0.41 $ 74.1 May 8, 2014 May 15, 2014 $ 0.41 74.2 August 7, 2014 August 14, 2014 $ 0.41 74.1 November 7, 2014 November 14, 2014 $ 0.41 74.1 $ 296.5 |
Equity Plans (Tables)
Equity Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The following table summarizes information regarding restricted and phantom unit activity during the years ended December 31, 2016 and 2015. Units Weighted-Average Unvested - January 1, 2015 131,588 $ 132.10 Vested - restricted units (91,798 ) $ 121.13 Vested - phantom units (4,856 ) $ 67.10 Granted - restricted units 142,255 $ 55.25 Granted - phantom units 42,349 $ 62.31 Modification - restricted units 226,401 $ 68.85 Modification - phantom units 41,269 $ 58.36 Forfeited (1) (20,994 ) $ 89.97 Unvested - December 31, 2015 466,214 $ 69.80 Vested - restricted units (193,295 ) $ 76.82 Granted - restricted units 1,067,535 $ 14.58 Granted - phantom units 17,467 $ 15.54 Forfeited (65,591 ) $ 25.13 Unvested - December 31, 2016 1,292,330 $ 24.67 The following table summarizes information regarding restricted and phantom unit activity during the year ended December 31, 2015: Units Weighted-Average Unvested - January 1, 2015 834,796 $ 23.18 Vested - restricted units (457,458 ) $ 22.91 Vested - phantom units (21,578 ) $ 16.05 Granted - restricted units 535,858 $ 15.89 Granted - phantom units 171,648 $ 15.76 Modification - restricted units (823,277 ) $ 20.06 Modification - phantom units (150,070 ) $ 18.93 Forfeited (1) (89,919 ) $ 16.05 Unvested - December 31, 2015 — $ — |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum lease payments under our noncancelable operating leases for the next five years ending December 31 and in total thereafter consist of the following ( in millions Year Ending December 31, 2017 $ 18.3 2018 16.3 2019 14.4 2020 9.6 2021 8.4 Thereafter 18.5 Total minimum lease payments $ 85.5 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Related Party Transactions [Abstract] | ||
Schedule of Related Party Transactions | The following table shows transactions with our affiliates which are reflected in our consolidated statements of operations for the three months ended March 31, 2017 and 2016 ( in millions Three Months Ended March 31, 2017 2016 Gathering and processing revenues at CEQP and CMLP $ 0.5 $ 0.7 Gathering and processing costs of product/services sold at CEQP and CMLP (1) $ 4.1 $ 4.3 Operations and maintenance expenses at CEQP and CMLP (2) $ 4.7 $ 0.7 General and administrative expenses charged by CEQP to CMLP, net (3) $ 5.5 $ 3.7 General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net (4) $ (0.8 ) $ 0.1 (1) Represents natural gas purchases from Sabine. (2) Includes $2.6 million, $0.9 million and $1.2 million of operations and maintenance expenses charged to Stagecoach Gas, Tres Palacios and Crestwood Permian, respectively, in accordance with their respective operating agreements with us for the three months ended March 31, 2017. During the three months ended March 31, 2016, we charged Tres Palacios $0.7 million of operations and maintenance expenses in accordance with its operating agreement with us. (3) Includes $6.3 million and $4.5 million of net unit-based compensation charges allocated from CEQP to CMLP for the three months ended March 31, 2017 and 2016. In addition, CMLP shares common management, general and administrative and overhead costs with CEQP. During both the three months ended March 31, 2017 and 2016, CMLP allocated $0.8 million of general and administrative costs to CEQP. (4) Includes $1.0 million and less than $0.1 million unit-based compensation charges allocated from Crestwood Holdings to CEQP and CMLP during the three months ended March 31, 2017 and 2016 . | The following table shows revenues, costs of product/services sold, general and administrative expenses and reimbursement of expenses from our affiliates for the years December 31, 2016, 2015 and 2014 ( in millions Year Ended December 31, 2016 2015 2014 Gathering and processing revenues at CEQP and CMLP $ 2.6 $ 3.9 $ 3.0 Gathering and processing costs of product/services sold at CEQP and CMLP (1) $ 17.7 $ 28.9 $ 42.2 Operations and maintenance expenses charged at CEQP and CMLP $ 7.7 $ 2.8 $ 0.2 General and administrative expenses charged by CEQP to CMLP, net (2) $ 13.0 $ 49.5 $ 63.6 General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net (3) $ (2.2 ) $ 0.4 $ 0.5 (1) Represents natural gas purchases from Sabine Oil and Gas. (2) Includes $16.0 million, $10.0 million and $6.9 million of net unit-based compensation charges allocated from CEQP to CMLP for the years ended December 31, 2016, 2015 and 2014. In addition, includes $3.0 million and $0.8 million of CMLP’s general and administrative costs allocated to CEQP. (3) Includes $3.2 million and $0.1 million unit-based compensation charges allocated from Crestwood Holdings to CEQP and CMLP during the years ended December 31, 2016 and 2015. |
Schedule of Related Party Receivables and Payables | The following table shows accounts receivable and accounts payable from our affiliates as of March 31, 2017 and December 31, 2016 ( in millions March 31, December 31, Accounts receivable at CEQP and CMLP $ 7.8 $ 5.6 Accounts payable at CEQP $ 2.5 $ 2.5 | The following table shows accounts receivable and accounts payable from our affiliates as of December 31, 2016 and 2015 ( in millions CEQP CMLP December 31, December 31, 2016 2015 2016 2015 Accounts receivable $ 5.6 $ 5.2 $ 5.6 $ 5.2 Accounts payable $ 2.5 $ 4.0 $ — $ 1.5 |
Segments (Tables)
Segments (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of Net Income (Loss) to Earnings Before Interest, Taxes, Depreciation and Amortization | Below is a reconciliation of CEQP’s net loss to EBITDA ( in millions Three Months Ended March 31, 2017 2016 Net loss $ (19.4 ) $ (93.7 ) Add: Interest and debt expense, net 26.5 36.1 Loss on modification/extinguishment of debt 37.3 — Benefit for income taxes (0.1 ) — Depreciation, amortization and accretion 48.4 62.3 EBITDA $ 92.7 $ 4.7 | Below is a reconciliation of CEQP’s net loss to EBITDA ( in millions Year Ended December 31, 2016 2015 2014 Net loss $ (192.1 ) $ (2,303.7 ) $ (10.4 ) Add: Interest and debt expense, net 125.1 140.1 127.1 (Gain) loss on modification/extinguishment of debt (10.0 ) 20.0 — Provision (benefit) for income taxes 0.3 (1.4 ) 1.1 Depreciation, amortization and accretion 229.6 300.1 285.3 EBITDA $ 152.9 $ (1,844.9 ) $ 403.1 |
Summary Of Segment Information | Three Months Ended March 31, 2017 Gathering Storage and Marketing, Logistics Corporate Total Revenues $ 368.6 $ 10.0 $ 449.5 $ — $ 828.1 Intersegment revenues 30.3 1.8 (32.1 ) — — Costs of product/services sold 316.6 — 366.9 — 683.5 Operations and maintenance expense 17.4 1.1 15.2 — 33.7 General and administrative expense — — — 26.4 26.4 Earnings from unconsolidated affiliates, net 1.6 6.5 — — 8.1 Other income, net — — — 0.1 0.1 EBITDA $ 66.5 $ 17.2 $ 35.3 $ (26.3 ) $ 92.7 Goodwill $ 45.9 $ — $ 153.1 $ — $ 199.0 Total assets $ 2,363.8 $ 1,080.7 $ 906.1 $ 24.2 $ 4,374.8 Three Months Ended March 31, 2016 Gathering Storage and Marketing, Corporate Total Revenues $ 238.9 $ 59.4 $ 237.7 $ — $ 536.0 Intersegment revenues 20.5 0.4 (20.9 ) — — Costs of product/services sold 179.8 2.9 180.7 — 363.4 Operations and maintenance expense 17.8 7.2 16.8 — 41.8 General and administrative expense — — — 23.0 23.0 Goodwill impairment (8.6 ) (13.7 ) (87.4 ) — (109.7 ) Earnings from unconsolidated affiliates, net 5.1 1.4 — — 6.5 Other income, net — — — 0.1 0.1 EBITDA $ 58.3 $ 37.4 $ (68.1 ) $ (22.9 ) $ 4.7 | Year Ended December 31, 2016 Gathering and Storage and Marketing, Corporate Total Revenues $ 1,118.8 $ 165.3 $ 1,236.4 $ — $ 2,520.5 Intersegment revenues 108.6 4.2 (112.8 ) — — Costs of product/services sold 917.0 5.1 1,003.0 — 1,925.1 Operations and maintenance expense 77.0 21.4 59.7 — 158.1 General and administrative expense — — — 88.2 88.2 Loss on long-lived assets, net (2.0 ) (32.2 ) (31.4 ) — (65.6 ) Goodwill impairment (8.6 ) (44.9 ) (109.1 ) — (162.6 ) Earnings from unconsolidated affiliates, net 20.3 11.2 — — 31.5 Other income, net — — — 0.5 0.5 EBITDA $ 243.1 $ 77.1 $ (79.6 ) $ (87.7 ) $ 152.9 Goodwill $ 45.9 $ — $ 153.1 $ — $ 199.0 Total assets $ 2,359.7 $ 1,094.6 $ 972.2 $ 22.4 $ 4,448.9 Purchases of property, plant and equipment $ 76.6 $ 3.3 $ 19.1 $ 1.7 $ 100.7 Year Ended December 31, 2015 Gathering and Storage and Marketing, Corporate Total Revenues $ 1,381.0 $ 266.3 $ 985.5 $ — $ 2,632.8 Intersegment revenues 66.7 — (66.7 ) — — Costs of product/services sold 1,103.9 20.1 759.5 — 1,883.5 Operations and maintenance expense 89.0 31.7 69.5 — 190.2 General and administrative expense — — — 116.3 116.3 Loss on long-lived assets (787.3 ) (1.6 ) (32.3 ) — (821.2 ) Goodwill impairment (329.7 ) (623.4 ) (453.2 ) — (1,406.3 ) Loss from unconsolidated affiliates (43.4 ) (17.4 ) — — (60.8 ) Other income, net — — — 0.6 0.6 EBITDA $ (905.6 ) $ (427.9 ) $ (395.7 ) $ (115.7 ) $ (1,844.9 ) Goodwill $ 54.5 $ 771.2 $ 259.8 $ — $ 1,085.5 Total assets $ 2,325.2 $ 2,217.4 $ 1,083.7 $ 136.5 $ 5,762.8 Purchases of property, plant and equipment $ 132.7 $ 26.4 $ 22.8 $ 0.8 $ 182.7 Year Ended December 31, 2014 Gathering and Storage and Marketing, Corporate Total Revenues $ 2,166.8 $ 264.6 $ 1,499.9 $ — $ 3,931.3 Intersegment revenues 50.0 — (50.0 ) — — Costs of product/services sold 1,859.9 33.3 1,272.1 — 3,165.3 Operations and maintenance expense 102.8 28.8 71.7 — 203.3 General and administrative expense — — — 100.2 100.2 Gain (loss) on long-lived assets (32.7 ) 33.8 (3.0 ) — (1.9 ) Goodwill impairment (18.5 ) — (30.3 ) — (48.8 ) Loss on contingent consideration (8.6 ) — — — (8.6 ) Earnings (loss) from unconsolidated affiliates 0.5 (1.2 ) — — (0.7 ) Other income, net — — — 0.6 0.6 EBITDA $ 194.8 $ 235.1 $ 72.8 $ (99.6 ) $ 403.1 Purchases of property, plant and equipment $ 327.9 $ 37.0 $ 50.9 $ 8.2 $ 424.0 |
Crestwood Midstream Partners LP | ||
Reconciliation of Net Income (Loss) to Earnings Before Interest, Taxes, Depreciation and Amortization | Below is a reconciliation of CMLP’s net loss to EBITDA ( in millions Three Months Ended March 31, 2017 2016 Net loss $ (21.4 ) $ (95.3 ) Add: Interest and debt expense, net 26.5 36.1 Loss on modification/extinguishment of debt 37.3 — Benefit for income taxes (0.1 ) (0.2 ) Depreciation, amortization and accretion 51.2 64.9 EBITDA $ 93.5 $ 5.5 | Below is a reconciliation of CMLP’s net income (loss) to EBITDA ( in millions Year Ended December 31, 2016 2015 2014 Net income (loss) $ (197.5 ) $ (1,410.6 ) $ 14.7 Add: Interest and debt expense, net 125.1 130.5 111.4 (Gain) loss on modification/extinguishment of debt (10.0 ) 18.9 — Provision for income taxes — — 0.9 Depreciation, amortization and accretion 240.5 278.5 255.4 EBITDA $ 158.1 $ (982.7 ) $ 382.4 |
Summary Of Segment Information | Three Months Ended March 31, 2017 Gathering Storage and Marketing, Corporate Total Revenues $ 368.6 $ 10.0 $ 449.5 $ — $ 828.1 Intersegment revenues 30.3 1.8 (32.1 ) — — Costs of product/services sold 316.6 — 366.9 — 683.5 Operations and maintenance expense 17.4 1.1 15.2 — 33.7 General and administrative expense — — — 25.5 25.5 Earnings from unconsolidated affiliates, net 1.6 6.5 — — 8.1 EBITDA $ 66.5 $ 17.2 $ 35.3 $ (25.5 ) $ 93.5 Goodwill $ 45.9 $ — $ 153.1 $ — $ 199.0 Total assets $ 2,562.4 $ 1,080.7 $ 906.1 $ 14.9 $ 4,564.1 Three Months Ended March 31, 2016 Gathering Storage and Marketing, Corporate Total Revenues $ 238.9 $ 59.4 $ 237.7 $ — $ 536.0 Intersegment revenues 20.5 0.4 (20.9 ) — — Costs of product/services sold 179.8 2.9 180.7 — 363.4 Operations and maintenance expense 17.8 7.1 16.8 — 41.7 General and administrative expense — — — 22.2 22.2 Goodwill impairment (8.6 ) (13.7 ) (87.4 ) — (109.7 ) Earnings from unconsolidated affiliates, net 5.1 1.4 — — 6.5 EBITDA $ 58.3 $ 37.5 $ (68.1 ) $ (22.2 ) $ 5.5 | Year Ended December 31, 2016 Gathering and Storage and Marketing, Corporate Total Revenues $ 1,118.8 $ 165.3 $ 1,236.4 $ — $ 2,520.5 Intersegment revenues 108.6 4.2 (112.8 ) — — Costs of product/services sold 917.0 5.1 1,003.0 — 1,925.1 Operations and maintenance expense 77.0 18.3 59.7 — 155.0 General and administrative expense — — — 85.6 85.6 Loss on long-lived assets, net (2.0 ) (32.2 ) (31.4 ) — (65.6 ) Goodwill impairment (8.6 ) (44.9 ) (109.1 ) — (162.6 ) Earnings from unconsolidated affiliates, net 20.3 11.2 — — 31.5 EBITDA $ 243.1 $ 80.2 $ (79.6 ) $ (85.6 ) $ 158.1 Goodwill $ 45.9 $ — $ 153.1 $ — $ 199.0 Total assets $ 2,561.9 $ 1,094.6 $ 972.2 $ 11.9 $ 4,640.6 Purchases of property, plant and equipment $ 76.6 $ 3.3 $ 19.1 $ 1.7 $ 100.7 Year Ended December 31, 2015 Gathering and Storage and Marketing, Corporate Total Revenues $ 1,381.0 $ 266.3 $ 985.5 $ — $ 2,632.8 Intersegment revenues 66.7 — (66.7 ) — — Costs of product/services sold 1,103.9 20.1 759.5 — 1,883.5 Operations and maintenance expense 89.0 30.2 69.5 — 188.7 General and administrative expense — — — 105.6 105.6 Loss on long-lived assets, net (194.1 ) (1.4 ) (32.3 ) — (227.8 ) Goodwill impairment (72.5 ) (623.4 ) (453.2 ) — (1,149.1 ) Loss from unconsolidated affiliates, net (43.4 ) (17.4 ) — — (60.8 ) EBITDA $ (55.2 ) $ (426.2 ) $ (395.7 ) $ (105.6 ) $ (982.7 ) Goodwill $ 54.5 $ 771.2 $ 259.8 $ — $ 1,085.5 Total assets $ 2,541.6 $ 2,216.7 $ 1,083.7 $ 121.6 $ 5,963.6 Purchases of property, plant and equipment $ 132.7 $ 26.4 $ 22.8 $ 0.8 $ 182.7 Year Ended December 31, 2014 Gathering and Storage and Marketing, Corporate Total Revenues $ 2,166.8 $ 250.8 $ 1,499.9 $ — $ 3,917.5 Intersegment revenues 50.0 — (50.0 ) — — Costs of product/services sold 1,859.9 22.8 1,272.1 — 3,154.8 Operations and maintenance expense 102.8 22.1 70.5 — 195.4 General and administrative expense — — — 91.7 91.7 Gain (loss) on long-lived assets (32.7 ) 0.6 (3.0 ) — (35.1 ) Goodwill impairment (18.5 ) — (30.3 ) — (48.8 ) Loss on contingent consideration (8.6 ) — — — (8.6 ) Earnings (loss) from unconsolidated affiliates, net 0.5 (1.2 ) — — (0.7 ) EBITDA $ 194.8 $ 205.3 $ 74.0 $ (91.7 ) $ 382.4 Purchases of property, plant and equipment $ 327.9 $ 36.4 $ 50.9 $ 6.5 $ 421.7 |
Condensed Consolidating Finan44
Condensed Consolidating Financial Information (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||
Condensed Balance Sheet | Crestwood Midstream Partners LP Condensed Consolidating Balance Sheet March 31, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ 0.6 $ — $ — $ — $ 0.6 Accounts receivable — 264.8 3.0 — 267.8 Inventory — 58.8 — — 58.8 Other current assets — 12.4 — — 12.4 Total current assets 0.6 336.0 3.0 — 339.6 Property, plant and equipment, net — 2,278.0 — — 2,278.0 Goodwill and intangible assets, net — 839.1 — — 839.1 Investment in consolidated affiliates 4,072.8 — — (4,072.8 ) — Investment in unconsolidated affiliates — — 1,105.3 — 1,105.3 Other assets — 2.1 — — 2.1 Total assets $ 4,073.4 $ 3,455.2 $ 1,108.3 $ (4,072.8 ) $ 4,564.1 Liabilities and partners’ capital Current liabilities: Accounts payable $ — $ 191.0 $ — $ — $ 191.0 Other current liabilities 40.2 59.2 — — 99.4 Total current liabilities 40.2 250.2 — — 290.4 Long-term liabilities: Long-term debt, less current portion 1,549.2 1.1 — — 1,550.3 Other long-term liabilities — 43.9 — — 43.9 Deferred income taxes — 0.7 — — 0.7 Partners’ capital 2,484.0 3,159.3 913.5 (4,072.8 ) 2,484.0 Interest of non-controlling — — 194.8 — 194.8 Total partners’ capital 2,484.0 3,159.3 1,108.3 (4,072.8 ) 2,678.8 Total liabilities and partners’ capital $ 4,073.4 $ 3,455.2 $ 1,108.3 $ (4,072.8 ) $ 4,564.1 Crestwood Midstream Partners LP Condensed Consolidating Balance Sheet December 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ 1.3 $ — $ — $ — $ 1.3 Accounts receivable — 289.3 0.5 — 289.8 Inventory — 66.0 — — 66.0 Other current assets — 16.0 — — 16.0 Total current assets 1.3 371.3 0.5 — 373.1 Property, plant and equipment, net — 2,298.4 — — 2,298.4 Goodwill and intangible assets, net — 851.9 — — 851.9 Investment in consolidated affiliates 4,093.7 — — (4,093.7 ) — Investment in unconsolidated affiliates — — 1,115.4 — 1,115.4 Other assets — 1.8 — — 1.8 Total assets $ 4,095.0 $ 3,523.4 $ 1,115.9 $ (4,093.7 ) $ 4,640.6 Liabilities and partners’ capital Current liabilities: Accounts payable $ — $ 214.5 $ — $ — $ 214.5 Other current liabilities 23.1 94.4 — — 117.5 Total current liabilities 23.1 308.9 — — 332.0 Long-term liabilities: Long-term debt, less current portion 1,521.2 1.5 — — 1,522.7 Other long-term liabilities — 42.0 — — 42.0 Deferred income taxes — 0.7 — — 0.7 Partners’ capital 2,550.7 3,170.3 923.4 (4,093.7 ) 2,550.7 Interest of non-controlling — — 192.5 — 192.5 Total partners’ capital 2,550.7 3,170.3 1,115.9 (4,093.7 ) 2,743.2 Total liabilities and partners’ capital $ 4,095.0 $ 3,523.4 $ 1,115.9 $ (4,093.7 ) $ 4,640.6 | Crestwood Midstream Partners LP Condensed Consolidating Balance Sheet December 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ 1.3 $ — $ — $ — $ 1.3 Accounts receivable — 289.3 0.5 — 289.8 Inventory — 66.0 — — 66.0 Other current assets — 16.0 — — 16.0 Total current assets 1.3 371.3 0.5 — 373.1 Property, plant and equipment, net — 2,298.4 — — 2,298.4 Goodwill and intangible assets, net — 851.9 — — 851.9 Investment in consolidated affiliates 4,093.7 — — (4,093.7 ) — Investment in unconsolidated affiliates — — 1,115.4 — 1,115.4 Other assets — 1.8 — — 1.8 Total assets $ 4,095.0 $ 3,523.4 $ 1,115.9 $ (4,093.7 ) $ 4,640.6 Liabilities and partners’ capital Current liabilities: Accounts payable $ — $ 214.5 $ — $ — $ 214.5 Other current liabilities 23.1 94.4 — — 117.5 Total current liabilities 23.1 308.9 — — 332.0 Long-term liabilities: Long-term debt, less current portion 1,521.2 1.5 — — 1,522.7 Other long-term liabilities — 42.0 — — 42.0 Deferred income taxes — 0.7 — — 0.7 Partners’ capital 2,550.7 3,170.3 923.4 (4,093.7 ) 2,550.7 Interest of non-controlling — — 192.5 — 192.5 Total partners’ capital 2,550.7 3,170.3 1,115.9 (4,093.7 ) 2,743.2 Total liabilities and partners’ capital $ 4,095.0 $ 3,523.4 $ 1,115.9 $ (4,093.7 ) $ 4,640.6 Crestwood Midstream Partners LP Condensed Consolidating Balance Sheet December 31, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ 0.1 $ — $ — $ — $ 0.1 Accounts receivable — 236.0 0.5 — 236.5 Inventory — 44.5 — — 44.5 Other current assets — 52.5 — 52.5 Total current assets 0.1 333.0 0.5 — 333.6 Property, plant and equipment, net — 3,525.7 — — 3,525.7 Goodwill and intangible assets, net — 1,846.9 — — 1,846.9 Investment in consolidated affiliates 5,506.8 — — (5,506.8 ) — Investment in unconsolidated affiliates — — 254.3 — 254.3 Other assets — 3.1 — — 3.1 Total assets $ 5,506.9 $ 5,708.7 $ 254.8 $ (5,506.8 ) $ 5,963.6 Liabilities and partners’ capital Current liabilities: Accounts payable $ — $ 141.3 $ 0.1 $ — $ 141.4 Other current liabilities 26.4 85.2 — — 111.6 Total current liabilities 26.4 226.5 0.1 — 253.0 Long-term liabilities: Long-term debt, less current portion 2,498.9 2.9 — — 2,501.8 Other long-term liabilities — 43.3 — — 43.3 Deferred income taxes — 0.4 — — 0.4 Partners’ capital 2,981.6 5,435.6 71.2 (5,506.8 ) 2,981.6 Interest of non-controlling — — 183.5 — 183.5 Total partners’ capital 2,981.6 5,435.6 254.7 (5,506.8 ) 3,165.1 Total liabilities and partners’ capital $ 5,506.9 $ 5,708.7 $ 254.8 $ (5,506.8 ) $ 5,963.6 |
Condensed Consolidating Statements of Operations | Crestwood Midstream Partners LP Condensed Consolidating Statement of Operations Three Months Ended March 31, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 828.1 $ — $ — $ 828.1 Costs of product/services sold — 683.5 — — 683.5 Expenses: Operations and maintenance — 33.7 — — 33.7 General and administrative 18.3 7.2 — — 25.5 Depreciation, amortization and accretion — 51.2 — — 51.2 18.3 92.1 — — 110.4 Operating income (loss) (18.3 ) 52.5 — — 34.2 Earnings from unconsolidated affiliates, net — — 8.1 — 8.1 Interest and debt expense, net (26.5 ) — — — (26.5 ) Loss on modification/extinguishment of debt (37.3 ) — — — (37.3 ) Equity in net income (loss) of subsidiary 54.6 — — (54.6 ) — Income (loss) before income taxes (27.5 ) 52.5 8.1 (54.6 ) (21.5 ) Benefit for income taxes — 0.1 — — 0.1 Net income (loss) (27.5 ) 52.6 8.1 (54.6 ) (21.4 ) Net income attributable to non-controlling — — 6.1 — 6.1 Net income (loss) attributable to Crestwood Midstream Partners LP $ (27.5 ) $ 52.6 $ 2.0 $ (54.6 ) $ (27.5 ) Crestwood Midstream Partners LP Condensed Consolidating Statement of Operations Three Months Ended March 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Eliminations Consolidated Revenues $ — $ 536.0 $ — $ — $ 536.0 Costs of product/services sold — 363.4 — — 363.4 Expenses: Operations and maintenance — 41.7 — — 41.7 General and administrative 17.7 4.5 — — 22.2 Depreciation, amortization and accretion — 64.9 — — 64.9 17.7 111.1 — — 128.8 Other operating expense: Goodwill Impairment — (109.7 ) — — (109.7 ) Operating loss (17.7 ) (48.2 ) — — (65.9 ) Earnings from unconsolidated affiliates, net — — 6.5 — 6.5 Interest and debt expense, net (36.1 ) — — — (36.1 ) Equity in net income (loss) of subsidiary (47.4 ) — — 47.4 — Income (loss) before income taxes (101.2 ) (48.2 ) 6.5 47.4 (95.5 ) Benefit for income taxes — 0.2 — — 0.2 Net income (loss) (101.2 ) (48.0 ) 6.5 47.4 (95.3 ) Net income attributable to non-controlling — — 5.9 — 5.9 Net income (loss) attributable to Crestwood Midstream Partners LP $ (101.2 ) $ (48.0 ) $ 0.6 $ 47.4 $ (101.2 ) | Crestwood Midstream Partners LP Condensed Consolidating Statements of Operations Year Ended December 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 2,520.5 $ — $ — $ 2,520.5 Costs of product/services sold — 1,925.1 — — 1,925.1 Expenses: Operations and maintenance — 155.0 — — 155.0 General and administrative 66.4 19.2 — — 85.6 Depreciation, amortization and accretion — 240.5 — — 240.5 66.4 414.7 — — 481.1 Other operating expenses: Loss on long-lived assets, net — (65.6 ) — — (65.6 ) Goodwill impairment — (162.6 ) — — (162.6 ) Operating loss (66.4 ) (47.5 ) — — (113.9 ) Earnings from unconsolidated affiliates, net — — 31.5 — 31.5 Interest and debt expense, net (125.1 ) — — — (125.1 ) Gain on modification/extinguishment of debt 10.0 — — — 10.0 Equity in net income (loss) of subsidiaries (40.2 ) — — 40.2 — Net income (loss) (221.7 ) (47.5 ) 31.5 40.2 (197.5 ) Net income attributable to non-controlling — — 24.2 — 24.2 Net income (loss) attributable to Crestwood Midstream Partners LP $ (221.7 ) $ (47.5 ) $ 7.3 $ 40.2 $ (221.7 ) Crestwood Midstream Partners LP Condensed Consolidating Statements of Operations Year Ended December 31, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 2,632.8 $ — $ — $ 2,632.8 Costs of product/services sold — 1,883.5 — — 1,883.5 Expenses: Operations and maintenance — 188.7 — — 188.7 General and administrative 65.3 40.3 — — 105.6 Depreciation, amortization and accretion — 278.5 — — 278.5 65.3 507.5 — — 572.8 Other operating expenses: Loss on long-lived assets, net — (227.8 ) — — (227.8 ) Goodwill impairment — (1,149.1 ) — — (1,149.1 ) Operating loss (65.3 ) (1,135.1 ) — — (1,200.4 ) Loss from unconsolidated affiliates, net — — (60.8 ) — (60.8 ) Interest and debt expense, net (130.5 ) — — — (130.5 ) Loss on modification/extinguishment of debt (18.9 ) — — — (18.9 ) Equity in net income (loss) of subsidiaries (1,219.0 ) — — 1,219.0 — Net income (loss) (1,433.7 ) (1,135.1 ) (60.8 ) 1,219.0 (1,410.6 ) Net income attributable to non-controlling — — 23.1 — 23.1 Net income (loss) attributable to Crestwood Midstream Partners LP (1,433.7 ) (1,135.1 ) (83.9 ) 1,219.0 (1,433.7 ) Net income attributable to Class A preferred units 23.1 — — — 23.1 Net income (loss) attributable to partners $ (1,456.8 ) $ (1,135.1 ) $ (83.9 ) $ 1,219.0 $ (1,456.8 ) Crestwood Midstream Partners Condensed Consolidating Statements of Operations Year Ended December 31, 2014 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 3,917.5 $ — $ — $ 3,917.5 Costs of product/services sold — 3,154.8 — — 3,154.8 Expenses: Operations and maintenance — 195.4 — — 195.4 General and administrative 49.4 42.3 — — 91.7 Depreciation, amortization and accretion 0.9 254.5 — — 255.4 50.3 492.2 — — 542.5 Other operating expenses: Loss on long-lived assets, net — (35.1 ) — — (35.1 ) Goodwill impairment — (48.8 ) — — (48.8 ) Loss on contingent consideration — (8.6 ) — — (8.6 ) Operating income (loss) (50.3 ) 178.0 — — 127.7 Loss from unconsolidated affiliates, net — — (0.7 ) — (0.7 ) Interest and debt expense, net (111.4 ) — — — (111.4 ) Equity in net income (loss) of subsidiaries 159.6 — — (159.6 ) — Income (loss) before income taxes (2.1 ) 178.0 (0.7 ) (159.6 ) 15.6 Provision for income taxes — (0.9 ) — — (0.9 ) Net income (loss) (2.1 ) 177.1 (0.7 ) (159.6 ) 14.7 Net income attributable to non-controlling — — 16.8 — 16.8 Net income (loss) attributable to Crestwood Midstream Partners LP (2.1 ) 177.1 (17.5 ) (159.6 ) (2.1 ) Net income attributable to Class A preferred units 17.2 — — — 17.2 Net income (loss) attributable to partners $ (19.3 ) $ 177.1 $ (17.5 ) $ (159.6 ) $ (19.3 ) |
Condensed Cash Flow Statement | Crestwood Midstream Partners LP Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (39.7 ) $ 94.4 $ 5.3 $ — $ 60.0 Cash flows from investing activities: Purchases of property, plant and equipment (0.1 ) (22.6 ) — — (22.7 ) Investment in unconsolidated affiliates — — (0.1 ) — (0.1 ) Capital distributions from unconsolidated affiliates — — 10.5 — 10.5 Capital distributions from consolidated affiliates 11.9 — — (11.9 ) — Net cash provided by (used in) investing activities 11.8 (22.6 ) 10.4 (11.9 ) (12.3 ) Cash flows from financing activities: Proceeds from the issuance of long-term debt 1,154.5 — — — 1,154.5 Payments on long-term debt (1,143.3 ) (0.4 ) — — (1,143.7 ) Payments on capital leases — (0.4 ) — — (0.4 ) Payments for debt-related deferred costs (8.5 ) — — — (8.5 ) Distributions paid (43.1 ) — (3.8 ) — (46.9 ) Distributions to parent — — (11.9 ) 11.9 — Taxes paid for unit-based compensation vesting — (3.4 ) — — (3.4 ) Change in intercompany balances 67.6 (67.6 ) — — — Net cash provided by (used in) financing activities 27.2 (71.8 ) (15.7 ) 11.9 (48.4 ) Net change in cash (0.7 ) — — — (0.7 ) Cash at beginning of period 1.3 — — — 1.3 Cash at end of period $ 0.6 $ — $ — $ — $ 0.6 Crestwood Midstream Partners LP Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (42.7 ) $ 172.8 $ 5.6 $ — $ 135.7 Cash flows from investing activities: Purchases of property, plant and equipment (0.9 ) (54.7 ) — — (55.6 ) Investment in unconsolidated affiliates — — (5.5 ) — (5.5 ) Proceeds from the sale of assets — 0.8 — — 0.8 Capital contributions to consolidated affiliates (3.7 ) — — 3.7 — Net cash provided by (used in) investing activities (4.6 ) (53.9 ) (5.5 ) 3.7 (60.3 ) Cash flows from financing activities: Proceeds from the issuance of long-term debt 313.5 — — — 313.5 Principal payments on long-term debt (286.0 ) — — — (286.0 ) Payments on capital leases — (0.5 ) — — (0.5 ) Payments for debt-related deferred costs (0.1 ) — — — (0.1 ) Distributions paid (97.2 ) — (3.8 ) — (101.0 ) Contributions from parent — — 3.7 (3.7 ) — Taxes paid for unit-based compensation vesting — (0.6 ) — — (0.6 ) Change in intercompany balances 117.8 (117.8 ) — — — Net cash provided by (used in) financing activities 48.0 (118.9 ) (0.1 ) (3.7 ) (74.7 ) Net change in cash 0.7 — — — 0.7 Cash at beginning of period 0.1 — — — 0.1 Cash at end of period $ 0.8 $ — $ — $ — $ 0.8 | Crestwood Midstream Partners LP Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (188.0 ) $ 502.8 $ 39.0 $ — $ 353.8 Cash flows from investing activities: Acquisitions, net of cash acquired — (7.2 ) — — (7.2 ) Purchases of property, plant and equipment (1.7 ) (99.0 ) — — (100.7 ) Investment in unconsolidated affiliates — — (12.4 ) — (12.4 ) Proceeds from the sale of assets — 972.7 — — 972.7 Capital distributions from unconsolidated affiliates — — 14.8 — 14.8 Capital contributions to consolidated affiliates 26.2 — — (26.2 ) — Net cash provided by (used in) investing activities 24.5 866.5 2.4 (26.2 ) 867.2 Cash flows from financing activities: Proceeds from the issuance of long-term debt 1,565.3 — — — 1,565.3 Principal payments on long-term debt (2,535.3 ) (0.8 ) — — (2,536.1 ) Payments on capital leases — (1.9 ) — — (1.9 ) Payments for debt-related deferred costs (3.5 ) — — — (3.5 ) Distributions paid (227.6 ) — (15.2 ) — (242.8 ) Distributions to parents — — (26.2 ) 26.2 — Taxes paid for unit-based compensation vesting — (0.8 ) — — (0.8 ) Change in intercompany balances 1,365.8 (1,365.8 ) — — — Net cash provided by (used in) financing activities 164.7 (1,369.3 ) (41.4 ) 26.2 (1,219.8 ) Net change in cash 1.2 — — — 1.2 Cash at beginning of period 0.1 — — — 0.1 Cash at end of period $ 1.3 $ — $ — $ — $ 1.3 Crestwood Midstream Partners LP Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (190.8 ) $ 650.0 $ 12.6 $ — $ 471.8 Cash flows from investing activities: Purchases of property, plant and equipment (0.8 ) (181.9 ) — — (182.7 ) Investment in unconsolidated affiliates, net — — (41.8 ) — (41.8 ) Proceeds from the sale of assets — 2.7 — — 2.7 Capital distributions from unconsolidated affiliates — — 9.3 — 9.3 Capital contributions to consolidated affiliates (31.2 ) — — 31.2 — Net cash provided by (used in) investing activities (32.0 ) (179.2 ) (32.5 ) 31.2 (212.5 ) Cash flows from financing activities: Proceeds from the issuance of long-term debt 3,490.1 — — — 3,490.1 Principal payments on long-term debt (2,960.9 ) — — — (2,960.9 ) Payments on capital leases — (2.2 ) — — (2.2 ) Payments for debt-related deferred costs (17.3 ) — — — (17.3 ) Financing fees paid for early debt redemption (13.6 ) — — — (13.6 ) Distributions paid (808.2 ) — (11.3 ) — (819.5 ) Contributions from parents — — 31.2 (31.2 ) — Net proceeds from issuance of preferred units 58.8 — — — 58.8 Taxes paid for unit-based compensation vesting — (2.1 ) — — (2.1 ) Change in intercompany balances 474.1 (474.1 ) — — — Other (0.1 ) — — — (0.1 ) Net cash provided by (used in) financing activities 222.9 (478.4 ) 19.9 (31.2 ) (266.8 ) Net change in cash 0.1 (7.6 ) — — (7.5 ) Cash at beginning of period — 7.6 — — 7.6 Cash at end of period $ 0.1 $ — $ — $ — $ 0.1 Crestwood Midstream Partners LP Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2014 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: $ (165.6 ) $ 602.9 $ — $ — $ 437.3 Cash flows from investing activities: Acquisitions, net of cash acquired — (19.5 ) — — (19.5 ) Purchases of property, plant and equipment (4.3 ) (417.4 ) — — (421.7 ) Investment in unconsolidated affiliates, net — — (144.4 ) — (144.4 ) Proceeds from the sale of assets — 2.7 — — 2.7 Capital contributions to consolidated affiliates (89.5 ) — — 89.5 — Net cash provided by (used in) investing activities (93.8 ) (434.2 ) (144.4 ) 89.5 (582.9 ) Cash flows from financing activities: Proceeds from the issuance of long-term debt 2,089.9 — — — 2,089.9 Principal payments on long-term debt (1,949.8 ) (0.2 ) — — (1,950.0 ) Payments on capital leases (1.3 ) (1.9 ) — — (3.2 ) Payments for debt-related deferred costs (0.1 ) — — — (0.1 ) Distributions paid (470.5 ) — — — (470.5 ) Contributions from parents — — 89.5 (89.5 ) — Net proceeds from issuance of preferred equity of subsidiary — — 53.9 — 53.9 Net proceeds from issuance of Class A preferred units 430.5 — — — 430.5 Taxes paid for unit-based compensation vesting — (1.6 ) — — (1.6 ) Change in intercompany balances 161.4 (161.4 ) — — — Other (0.8 ) — — — (0.8 ) Net cash provided by (used in) financing activities 259.3 (165.1 ) 143.4 (89.5 ) 148.1 Net change in cash (0.1 ) 3.6 (1.0 ) — 2.5 Cash at beginning of period 0.1 4.0 1.0 — 5.1 Cash at end of period $ — $ 7.6 $ — $ — $ 7.6 |
Organization and Description of
Organization and Description of Business (Narrative) (Detail) - Segment | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Partnership Organization And Basis Of Presentation [Line Items] | ||
Number of Operating segments | 3 | 3 |
Crestwood Equity Partners LP | ||
Partnership Organization And Basis Of Presentation [Line Items] | ||
Limited partnership interest | 99.90% | |
Crestwood Gas Services GP, LLC [Member] | ||
Partnership Organization And Basis Of Presentation [Line Items] | ||
Limited partnership interest | 0.10% | |
Common Unit Capital | Crestwood Holdings [Member] | ||
Partnership Organization And Basis Of Presentation [Line Items] | ||
General partner ownership percentage | 25.00% |
Basis of Presentation and Sum46
Basis of Presentation and Summary of Significant Accounting Policies (Detail) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Feb. 28, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Summary Of Significant Accounting Policies [Line Items] | ||||||
Estimated Cost to Build | $ 180 | $ 180 | ||||
Proceeds from sale of assets | 0 | $ 0.8 | 972.7 | $ 2.7 | $ 69.1 | |
Property Plant and Equipment Disposition | 1,127.6 | |||||
Increase (Decrease) in Intangible Assets, Current | 8.5 | |||||
Increase (Decrease) in Other Current Assets and Liabilities, Net | 11.2 | |||||
Inventory | 58.8 | 66 | 44.5 | |||
Goodwill impairment | 0 | 109.7 | $ 162.6 | $ 1,406.3 | 48.8 | |
Discount rate | 19.00% | 15.00% | ||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 3.7 | |||||
Debt Issuance Costs, Net | 33.8 | 34 | $ 40.9 | |||
Deferred revenue | 6.2 | $ 7.5 | 14.2 | |||
Percentage of gross income from qualifying sources required to be subject to federal income tax, minimum | 90.00% | |||||
Share-based Compensation | $ 16 | 11.5 | 10.1 | |||
Granite Wash | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Goodwill impairment | 0 | 0 | 14.2 | |||
Impaired assets to be disposed of | 8.5 | 13.2 | ||||
Fair value disclosure | 11.2 | |||||
Impairment of intangible assets | 20 | |||||
Barnett | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Goodwill impairment | 0 | 257.2 | 0 | |||
Impaired assets to be disposed of | 354.4 | |||||
Fair value disclosure | 298.5 | |||||
Impairment of intangible assets | 238.9 | |||||
Fayetteville | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Goodwill impairment | 0 | 72.5 | 4.3 | |||
Impaired assets to be disposed of | 61.9 | |||||
Fair value disclosure | 59.3 | |||||
Impairment of intangible assets | 70.9 | |||||
Haynesville | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Impaired assets to be disposed of | 45.7 | |||||
Fair value disclosure | 3.8 | |||||
Impairment of intangible assets | 6 | |||||
Watkins Glen | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Impaired assets to be disposed of | 31.2 | |||||
Fair value disclosure | 6.7 | |||||
Trucking | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Goodwill impairment | 7.8 | 29.5 | 148.4 | 0 | ||
Impairment of intangible assets | 31.4 | |||||
Marcellus | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Goodwill impairment | 8.6 | 8.6 | 0 | 0 | ||
COLT | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Goodwill impairment | 13.7 | 44.9 | 623.4 | 0 | ||
Supply and Logistics | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Goodwill impairment | 65.5 | 65.5 | 99 | 0 | ||
Storage and Terminals | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Goodwill impairment | 14.1 | 14.1 | 53.7 | 0 | ||
Natural Gas Liquids | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Inventory | 56.7 | 35.4 | ||||
Crestwood Midstream Partners LP | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Proceeds from sale of assets | 0 | 0.8 | 972.7 | 2.7 | 2.7 | |
Inventory | 58.8 | 66 | 44.5 | |||
Goodwill impairment | 0 | $ 109.7 | 162.6 | 1,149.1 | $ 48.8 | |
Deferred revenue | $ 6.2 | $ 7.5 | 14.2 | |||
Powder River Basin Industrial Complex, LLC | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Equity method investment, other than temporary impairment | $ 23.4 | |||||
Minimum | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Discount rate | 10.00% | 10.00% | 10.00% | 9.00% | ||
Maximum | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Discount rate | 19.00% | 19.00% | 16.00% | 12.00% | ||
Equity Method Investments [Member] | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Discount rate | 15.50% | |||||
Stagecoach Gas Services LLC | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Equity method ownership percentage | 50.00% | 50.00% | ||||
Stagecoach Gas Services LLC | Crestwood Midstream Partners LP | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Equity method ownership percentage | 50.00% | |||||
Stagecoach Gas Services LLC | CEGP [Member] | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Proceeds from sale of assets | $ 975 | |||||
Jackalope Gas Gathering Services, LLC | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Equity method ownership percentage | 50.00% | 50.00% | ||||
Equity method investment, other than temporary impairment | $ 51.4 | |||||
Performance Shares [Member] | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 381,704 | |||||
Share-based Compensation | $ 0.4 | |||||
Crestwood LTIP | Performance Shares [Member] | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 10.6 |
Basis of Presentation and Sum47
Basis of Presentation and Summary of Significant Accounting Policies (Estimated Useful Lives Of Property, Plant And Equipment) (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Gathering systems and pipelines and related assets | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 20 years |
Gathering systems and pipelines and related assets | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 20 years |
Facilities and equipment | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 20 years |
Facilities and equipment | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 20 years |
Buildings, land, rights-of-way, storage rights and easements | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 20 years |
Buildings, land, rights-of-way, storage rights and easements | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 40 years |
Office furniture and fixtures | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
Office furniture and fixtures | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 10 years |
Vehicles | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
Vehicles | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
Basis of Presentation and Sum48
Basis of Presentation and Summary of Significant Accounting Policies (Estimated Economic Lives Of Intangible Assets) (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Customer accounts | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted-Average Life (years) | 20 years |
Covenants not to compete | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted-Average Life (years) | 5 years |
Minimum | Trademarks | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted-Average Life (years) | 6 years |
Maximum | Trademarks | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted-Average Life (years) | 8 years |
Basis of Presentation and Sum49
Basis of Presentation and Summary of Significant Accounting Policies (Goodwill, by Reporting Unit) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill [Roll Forward] | |||||
Beginning Balance | $ 199 | $ 1,085.5 | $ 1,085.5 | $ 2,491.8 | |
Goodwill, Written off Related to Sale of Business Unit | 726.3 | ||||
Goodwill Impairments during the Period | 0 | 109.7 | 162.6 | 1,406.3 | $ 48.8 |
Goodwill, Acquired During Period | 2.4 | ||||
Ending Balance | 199 | 199 | 1,085.5 | 2,491.8 | |
Fayetteville | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 0 | 0 | 0 | 72.5 | |
Goodwill Impairments during the Period | 0 | 72.5 | 4.3 | ||
Ending Balance | 0 | 0 | 72.5 | ||
Granite Wash | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 0 | 0 | 0 | 0 | |
Goodwill Impairments during the Period | 0 | 0 | 14.2 | ||
Ending Balance | 0 | 0 | 0 | ||
Marcellus | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 0 | 8.6 | 8.6 | 8.6 | |
Goodwill Impairments during the Period | 8.6 | 8.6 | 0 | 0 | |
Ending Balance | 0 | 8.6 | 8.6 | ||
Arrow | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 45.9 | 45.9 | 45.9 | 45.9 | |
Goodwill Impairments during the Period | 0 | 0 | 0 | ||
Ending Balance | 45.9 | 45.9 | 45.9 | ||
Northeast Storage and Transportation | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 0 | 726.3 | 726.3 | 726.3 | |
Goodwill, Written off Related to Sale of Business Unit | 726.3 | ||||
Goodwill Impairments during the Period | 0 | 0 | 0 | ||
Ending Balance | 0 | 726.3 | 726.3 | ||
COLT | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 0 | 44.9 | 44.9 | 668.3 | |
Goodwill Impairments during the Period | 13.7 | 44.9 | 623.4 | 0 | |
Ending Balance | 0 | 44.9 | 668.3 | ||
West Coast | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 2.4 | 0 | 0 | 85.9 | |
Goodwill Impairments during the Period | 0 | 85.9 | 0 | ||
Goodwill, Acquired During Period | 2.4 | ||||
Ending Balance | 2.4 | 0 | 85.9 | ||
Supply and Logistics | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 101.7 | 167.2 | 167.2 | 266.2 | |
Goodwill Impairments during the Period | 65.5 | 65.5 | 99 | 0 | |
Ending Balance | 101.7 | 167.2 | 266.2 | ||
Storage and Terminals | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 36.4 | 50.5 | 50.5 | 104.2 | |
Goodwill Impairments during the Period | 14.1 | 14.1 | 53.7 | 0 | |
Ending Balance | 36.4 | 50.5 | 104.2 | ||
US Salt | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 12.6 | 12.6 | 12.6 | 12.6 | |
Goodwill Impairments during the Period | 0 | 0 | 2.2 | ||
Ending Balance | 12.6 | 12.6 | 12.6 | ||
Trucking | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 0 | 29.5 | 29.5 | 177.9 | |
Goodwill Impairments during the Period | 7.8 | 29.5 | 148.4 | 0 | |
Ending Balance | 0 | 29.5 | 177.9 | ||
Barnett | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 0 | 0 | 0 | 257.2 | |
Goodwill Impairments during the Period | 0 | 257.2 | 0 | ||
Ending Balance | 0 | 0 | 257.2 | ||
Marketing Supply and Logistics | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 153.1 | 259.8 | 259.8 | ||
Goodwill Impairments during the Period | 87.4 | 109.1 | 453.2 | 30.3 | |
Ending Balance | 153.1 | 153.1 | 259.8 | ||
Consideration transferred | 7.2 | ||||
Watkins Glen | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 0 | 0 | 0 | 66.2 | |
Goodwill Impairments during the Period | 0 | 66.2 | 28.1 | ||
Ending Balance | 0 | 0 | 66.2 | ||
Crestwood Midstream Partners LP | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 199 | 1,085.5 | 1,085.5 | 2,234.6 | |
Goodwill, Written off Related to Sale of Business Unit | 726.3 | ||||
Goodwill Impairments during the Period | 0 | 109.7 | 162.6 | 1,149.1 | 48.8 |
Goodwill, Acquired During Period | 2.4 | ||||
Ending Balance | 199 | 199 | 1,085.5 | 2,234.6 | |
Crestwood Midstream Partners LP | Marketing Supply and Logistics | |||||
Goodwill [Roll Forward] | |||||
Beginning Balance | 153.1 | 259.8 | 259.8 | ||
Goodwill Impairments during the Period | $ 87.4 | 109.1 | 453.2 | $ 30.3 | |
Ending Balance | $ 153.1 | $ 153.1 | $ 259.8 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) $ in Millions | May 09, 2014USD ($)acrude_trailerservice_vehiclesTractorbbl | Mar. 21, 2014USD ($)Tractordouble_bottom_body_tankstrailer_tanksbbl | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 199 | $ 199 | $ 1,085.5 | $ 2,491.8 | ||
Red Rock Transportation, Inc. | ||||||
Business Acquisition [Line Items] | ||||||
Consideration transferred | $ 13.8 | |||||
Cash | 12.1 | |||||
Liabilities incurred | $ 1.8 | |||||
Number of trailer tanks | trailer_tanks | 56 | |||||
Number of Double Bottom tanks | double_bottom_body_tanks | 22 | |||||
Number of Tractors | Tractor | 44 | |||||
Crude hauling capacity, per day | bbl | 28,000 | |||||
Property, plant and equipment | $ 10.6 | |||||
Goodwill | $ 3.2 | |||||
LT Enterprises | ||||||
Business Acquisition [Line Items] | ||||||
Consideration transferred | $ 10.7 | |||||
Cash | 9 | |||||
Liabilities incurred | $ 1.7 | |||||
Number of Tractors | Tractor | 38 | |||||
Crude hauling capacity, per day | bbl | 20,000 | |||||
Number of Crude Trailers | crude_trailer | 51 | |||||
Number of Service Vehicles | service_vehicles | 17 | |||||
Land (in acres) | a | 20 |
Certain Balance Sheet Informa51
Certain Balance Sheet Information (Property, Plant And Equipment) (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2017 | |
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | $ 2,555.4 | $ 3,747.7 | $ 2,572.4 | |
Less: accumulated depreciation and depletion | 457.8 | 436.9 | 491.7 | |
Property, plant and equipment, net | 2,097.6 | 3,310.8 | 2,080.7 | |
Depletion | 0.7 | |||
Crestwood Equity Partners LP | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 2,555.4 | 3,747.7 | ||
Less: accumulated depreciation and depletion | 457.8 | 436.9 | ||
Property, plant and equipment, net | 2,097.6 | 3,310.8 | ||
Depreciation | 154.8 | 195.1 | $ 184.2 | |
Interest Costs Capitalized | 0.7 | 2.5 | 7.7 | |
Crestwood Equity Partners LP | Gathering systems and pipelines and related assets | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 639.4 | 1,075.7 | ||
Crestwood Equity Partners LP | Facilities and equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 1,328.3 | 1,505.9 | ||
Crestwood Equity Partners LP | Buildings, land, rights-of-way, storage rights and easements | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 315.4 | 833.4 | ||
Crestwood Equity Partners LP | Vehicles | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 45.7 | 46.3 | ||
Crestwood Equity Partners LP | Construction in process | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 85.9 | 114.5 | ||
Crestwood Equity Partners LP | Base gas | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 0 | 32 | ||
Crestwood Equity Partners LP | Salt deposits | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 120.5 | 120.5 | ||
Crestwood Equity Partners LP | Office furniture and fixtures | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 20.2 | 19.4 | ||
Crestwood Midstream Partners LP | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 2,885.5 | 4,077.7 | 2,902.5 | |
Less: accumulated depreciation and depletion | 587.1 | 552 | 624.5 | |
Property, plant and equipment, net | 2,298.4 | 3,525.7 | $ 2,278 | |
Depreciation | 168.9 | 186.7 | 170.9 | |
Interest Costs Capitalized | $ 7.5 | |||
Crestwood Midstream Partners LP | Gathering systems and pipelines and related assets | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 782.3 | 1,218.5 | ||
Crestwood Midstream Partners LP | Facilities and equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 1,513.4 | 1,691 | ||
Crestwood Midstream Partners LP | Buildings, land, rights-of-way, storage rights and easements | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 319.1 | 837.1 | ||
Crestwood Midstream Partners LP | Vehicles | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 44 | 44.6 | ||
Crestwood Midstream Partners LP | Construction in process | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 85.9 | 114.5 | ||
Crestwood Midstream Partners LP | Base gas | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 0 | 32 | ||
Crestwood Midstream Partners LP | Salt deposits | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | 120.5 | 120.5 | ||
Crestwood Midstream Partners LP | Office furniture and fixtures | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment | $ 20.3 | $ 19.5 |
Certain Balance Sheet Informa52
Certain Balance Sheet Information (Intangible Assets) (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Less: accumulated amortization | $ 241.2 | $ 206.6 | $ 254.7 | |
Crestwood Equity Partners LP | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 898.6 | 975.8 | ||
Less: accumulated amortization | 241.2 | 206.6 | ||
Total intangible assets, net | 657.4 | 769.2 | ||
Amortization of Intangible Assets | 72.5 | 102.8 | $ 99.3 | |
Crestwood Equity Partners LP | Customer accounts | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 541.9 | 583.7 | ||
Less: accumulated amortization | 162.4 | 130.1 | ||
Crestwood Equity Partners LP | Covenants not to compete | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 1 | 6.6 | ||
Less: accumulated amortization | 0 | 2.5 | ||
Crestwood Equity Partners LP | Gathering systems and pipelines and related assets | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 325.2 | 325.2 | ||
Less: accumulated amortization | 63.2 | 44.3 | ||
Crestwood Equity Partners LP | Acquired storage contracts | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 0 | 29 | ||
Less: accumulated amortization | 0 | 18.5 | ||
Crestwood Equity Partners LP | Trademarks | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 30.5 | 31.3 | ||
Less: accumulated amortization | 15.6 | 11.2 | ||
Crestwood Midstream Partners LP | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 883.1 | 959.3 | ||
Less: accumulated amortization | 230.2 | 197.9 | $ 243 | |
Total intangible assets, net | 652.9 | 761.4 | ||
Amortization of Intangible Assets | 69.3 | 89.6 | $ 82.7 | |
Crestwood Midstream Partners LP | Customer accounts | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 541.9 | 583.7 | ||
Less: accumulated amortization | 162.4 | 130.1 | ||
Crestwood Midstream Partners LP | Covenants not to compete | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 1 | 5.6 | ||
Less: accumulated amortization | 0 | 1.7 | ||
Crestwood Midstream Partners LP | Gathering systems and pipelines and related assets | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 325.2 | 325.2 | ||
Less: accumulated amortization | 63.2 | 44.3 | ||
Crestwood Midstream Partners LP | Acquired storage contracts | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 0 | 29 | ||
Less: accumulated amortization | 0 | 18.5 | ||
Crestwood Midstream Partners LP | Trademarks | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, Gross | 15 | 15.8 | ||
Less: accumulated amortization | $ 4.6 | $ 3.3 |
Certain Balance Sheet Informa53
Certain Balance Sheet Information (Amortization and Interest Expense, Fiscal Year Maturity) (Detail) $ in Millions | Dec. 31, 2016USD ($) |
Crestwood Equity Partners LP | |
Finite-Lived Intangible Assets [Line Items] | |
2,017 | $ 53.7 |
2,018 | 43.6 |
2,019 | 41.9 |
2,020 | 41.9 |
2,021 | 41.9 |
Crestwood Midstream Partners LP | |
Finite-Lived Intangible Assets [Line Items] | |
2,017 | 50.6 |
2,018 | 42.2 |
2,019 | 41.9 |
2,020 | 41.9 |
2,021 | $ 41.9 |
Certain Balance Sheet Informa54
Certain Balance Sheet Information (Accrued Expenses and Other Liabilities) (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accrued Expenses and Other Liabilities [Line Items] | |||
Accrued expenses | $ 32.6 | $ 46.9 | $ 46.4 |
Accrued property taxes | 4.9 | 4.2 | 4.8 |
Accrued natural gas purchases | 3.8 | 4.9 | 1.5 |
Tax payable | 1.7 | 1.2 | 0.5 |
Interest payable | 26.1 | 22.8 | 26.2 |
Accrued additions to property, plant and equipment | 1.6 | 1.7 | 10.4 |
Capital leases | 1.2 | 1.3 | 1.6 |
Deferred revenue | 6.2 | 7.5 | 14.2 |
Total accrued expenses and other liabilities | 78.1 | 90.5 | 105.6 |
Crestwood Midstream Partners LP | |||
Accrued Expenses and Other Liabilities [Line Items] | |||
Accrued expenses | 31.4 | 45.5 | 44.1 |
Accrued property taxes | 4.9 | 4.2 | 4.8 |
Accrued natural gas purchases | 3.8 | 4.9 | 1.5 |
Tax payable | 0 | 0 | 0.5 |
Interest payable | 26.1 | 22.8 | 26.2 |
Accrued additions to property, plant and equipment | 1.6 | 1.7 | 10.4 |
Capital leases | 1.2 | 1.3 | 1.6 |
Deferred revenue | 6.2 | 7.5 | 14.2 |
Total accrued expenses and other liabilities | $ 75.2 | $ 87.9 | $ 103.3 |
Asset Retirement Obligations (D
Asset Retirement Obligations (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Net asset retirement obligation at January 1 | $ 26.4 | $ 23.8 |
Liabilities incurred | 1 | 1.1 |
Liabilities settled | (1.2) | 0 |
Accretion expense | 1.6 | 1.5 |
Net asset retirement obligation at December 31 | $ 27.8 | $ 26.4 |
Investments in Unconsolidated56
Investments in Unconsolidated Affiliates Investments in Unconsolidated Affiliates Table (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Equity Method Investments [Line Items] | |||||
Investment in unconsolidated affiliates | $ 1,105.3 | $ 1,115.4 | $ 254.3 | ||
Earnings (loss) from unconsolidated affiliates, net | 8.1 | $ 6.5 | 31.5 | (60.8) | $ (0.7) |
Goodwill impairment | 0 | 109.7 | 162.6 | 1,406.3 | 48.8 |
Equity Method Investment, Summarized Financial Information, Current Assets | 102.7 | 34.3 | |||
Equity Method Investment, Summarized Financial Information, Noncurrent Assets | 2,448.2 | 677.8 | |||
Equity Method Investment, Summarized Financial Information, Current Liabilities | 25.5 | 20.9 | |||
Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities | 77.4 | 75.7 | |||
Equity Method Investment Summarized Financial Information, Equity | 2,448 | 615.5 | |||
Equity Method Investment, Summarized Financial Information, Revenue | 61.9 | 30.4 | 215.4 | 104.7 | 35.6 |
Equity Method Investment Summarized Financial Information Operating Expenses | 35.6 | 18.9 | 148 | 79.5 | 30.4 |
Equity Method Investment, Summarized Financial Information, Net Income (Loss) | $ 26.3 | 11.5 | $ 67.3 | 24.9 | 5.2 |
Stagecoach Gas Services LLC | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity method ownership percentage | 50.00% | 50.00% | |||
Investment in unconsolidated affiliates | $ 864.9 | $ 871 | 0 | ||
Earnings (loss) from unconsolidated affiliates, net | 6 | 0 | 15.9 | 0 | 0 |
Equity Method Investment, Summarized Financial Information, Current Assets | 57 | 0 | |||
Equity Method Investment, Summarized Financial Information, Noncurrent Assets | 1,807.6 | 0 | |||
Equity Method Investment, Summarized Financial Information, Current Liabilities | 6 | 0 | |||
Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities | 4.1 | 0 | |||
Equity Method Investment Summarized Financial Information, Equity | 1,854.5 | 0 | |||
Difference between carrying amount and underlying equity | 51.4 | 51.4 | |||
Equity Method Investment, Summarized Financial Information, Revenue | 42 | 0 | 99.3 | 0 | 0 |
Equity Method Investment Summarized Financial Information Operating Expenses | 19.4 | 0 | 44.1 | 0 | 0 |
Equity Method Investment, Summarized Financial Information, Net Income (Loss) | 22.6 | 0 | 55.3 | 0 | 0 |
Other Equity Method Investments | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Summarized Financial Information, Current Assets | 45.7 | 34.3 | |||
Equity Method Investment, Summarized Financial Information, Noncurrent Assets | 640.6 | 677.8 | |||
Equity Method Investment, Summarized Financial Information, Current Liabilities | 19.5 | 20.9 | |||
Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities | 73.3 | 75.7 | |||
Equity Method Investment Summarized Financial Information, Equity | 593.5 | 615.5 | |||
Equity Method Investment, Summarized Financial Information, Revenue | 19.9 | 30.4 | 116.1 | 104.7 | 35.6 |
Equity Method Investment Summarized Financial Information Operating Expenses | 16.2 | 18.9 | 103.9 | 79.5 | 30.4 |
Equity Method Investment, Summarized Financial Information, Net Income (Loss) | $ 3.7 | 11.5 | $ 12 | 24.9 | 5.2 |
Jackalope Gas Gathering Services, LLC | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity method ownership percentage | 50.00% | 50.00% | |||
Investment in unconsolidated affiliates | $ 193.2 | $ 197.2 | 202.4 | ||
Earnings (loss) from unconsolidated affiliates, net | 1.8 | 5.1 | 20.8 | (43.4) | 0.5 |
Equity method investment, other than temporary impairment | 51.4 | ||||
Difference between carrying amount and underlying equity | 0.8 | 0.8 | |||
Amortization | $ 0.1 | 0.1 | |||
Jackalope Gas Gathering Services, LLC | RKI Exploration and Production, LLC's | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Amortization | $ 0.1 | 3 | 3.1 | ||
Tres Palacios Holdings LLC | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity method ownership percentage | 50.01% | 50.01% | |||
Investment in unconsolidated affiliates | $ 39.5 | $ 39 | 36.8 | ||
Earnings (loss) from unconsolidated affiliates, net | 0.5 | 0.8 | (0.3) | 2.5 | 0.2 |
Difference between carrying amount and underlying equity | 27.5 | 27.8 | |||
Amortization | $ 0.3 | 0.3 | $ 1.3 | 1.3 | |
Powder River Basin Industrial Complex, LLC | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity method ownership percentage | 50.01% | 50.01% | |||
Investment in unconsolidated affiliates | $ 8.4 | $ 8.7 | 15.1 | ||
Earnings (loss) from unconsolidated affiliates, net | 0 | 0.6 | (4.4) | (19.9) | (1.4) |
Income (loss) from Equity Method Investments, Capital Adjustment | 3.2 | ||||
Equity method investment, other than temporary impairment | 23.4 | ||||
Goodwill impairment | 5.8 | ||||
Difference between carrying amount and underlying equity | 15.1 | 15.3 | |||
Amortization | $ 0.2 | 0.4 | $ 1.6 | ||
Crestwood Permian Basin Holdings LLC | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity method ownership percentage | 50.00% | 50.00% | |||
Investment in unconsolidated affiliates | $ (0.7) | $ (0.5) | 0 | ||
Earnings (loss) from unconsolidated affiliates, net | $ (0.2) | $ 0 | $ (0.5) | $ 0 | $ 0 |
Investments in Unconsolidated57
Investments in Unconsolidated Affiliates (Detail) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Feb. 28, 2017USD ($) | Jan. 31, 2017USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2017USD ($)amiMMcf | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($)miMMcf | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Schedule of Equity Method Investments [Line Items] | ||||||||
Proceeds from sale of assets | $ 0 | $ 0.8 | $ 972.7 | $ 2.7 | $ 69.1 | |||
Investments in unconsolidated affiliates | 1,105.3 | 1,115.4 | 254.3 | |||||
Investment in unconsolidated affiliates in period | 0.1 | 5.5 | 12.4 | 42 | 108.6 | |||
Estimated Cost to Build | 180 | $ 180 | ||||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 18.3 | 5.7 | ||||||
Stagecoach Gas Services LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 50.00% | 50.00% | ||||||
Investments in unconsolidated affiliates | $ 864.9 | $ 871 | 0 | |||||
Investment in unconsolidated affiliates in period | 0 | 0 | ||||||
Percentage of Available Cash Distributed | 35.00% | |||||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 12.1 | $ 12.1 | 0 | $ 16 | ||||
Stagecoach Gas Services LLC | Scenario, Previously Reported | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investments in unconsolidated affiliates | $ 871.1 | |||||||
Tres Palacios Holdings LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 50.01% | 50.01% | ||||||
Investments in unconsolidated affiliates | $ 39.5 | $ 39 | 36.8 | |||||
Deconsolidation, Gain (Loss), Amount | $ 30.6 | |||||||
Investment in unconsolidated affiliates in period | 132.8 | 0 | 5.5 | |||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 0 | 0 | $ 8.5 | 7.4 | ||||
Powder River Basin Industrial Complex, LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 50.01% | 50.01% | ||||||
Investments in unconsolidated affiliates | $ 8.4 | $ 8.7 | 15.1 | |||||
Investment in unconsolidated affiliates in period | 0 | 0 | 10.7 | 3.4 | ||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 0.4 | $ 0.3 | 0.6 | $ 2 | 1.9 | |||
Crestwood Permian Basin Holdings [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Gas Production Capacity | MMcf | 250 | 250 | ||||||
Crestwood Permian Basin Holdings [Member] | Low Pressure Gathering Lines | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Miles of pipeline | mi | 194 | 194 | ||||||
Crestwood Permian Basin Holdings [Member] | High Pressure Trunklines | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Miles of pipeline | mi | 36 | 36 | ||||||
Jackalope Gas Gathering Services, LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 50.00% | 50.00% | ||||||
Investments in unconsolidated affiliates | $ 193.2 | $ 197.2 | 202.4 | |||||
Investment in unconsolidated affiliates in period | 0.1 | 0 | ||||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 5.9 | 5.9 | 5.1 | 27.4 | 12.5 | |||
CEGP [Member] | Stagecoach Gas Services LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Proceeds from sale of assets | $ 975 | |||||||
Percentage of Available Cash Distributed | 65.00% | |||||||
Crestwood Midstream Partners LP | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Proceeds from sale of assets | 0 | 0.8 | $ 972.7 | 2.7 | 2.7 | |||
Investments in unconsolidated affiliates | 1,105.3 | 1,115.4 | 254.3 | |||||
Investment in unconsolidated affiliates in period | $ 0.1 | $ 5.5 | $ 12.4 | 41.8 | 144.4 | |||
Crestwood Midstream Partners LP | Stagecoach Gas Services LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 50.00% | |||||||
Deconsolidation, Gain (Loss), Amount | $ 32.4 | |||||||
Crestwood Midstream Partners LP | Tres Palacios Holdings LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 50.01% | |||||||
Investment in unconsolidated affiliates in period | $ 66.4 | |||||||
Brookfield Infrastructure Group | Tres Palacios Holdings LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 49.99% | |||||||
Crestwood Equity Partners LP | Tres Palacios Holdings LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investments in unconsolidated affiliates | 35.8 | |||||||
Crestwood Equity Partners LP | Crestwood Permian Basin Holdings [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 50.00% | 50.00% | ||||||
Capital Commitment to Acquire Equity Method Investment | $ 37.5 | $ 37.5 | ||||||
Twin Eagle Powder River Basin, LLC | Powder River Basin Industrial Complex, LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of voting interests acquired | 50.00% | |||||||
SWEPI LP | Crestwood Permian Basin Holdings [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method ownership percentage | 50.00% | 50.00% | ||||||
Area dedicated for gas production | a | 100,000 | |||||||
First Reserve Management, L.P. | Crestwood Permian Basin Holdings [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Capital Commitment to Acquire Equity Method Investment | $ 37.5 | $ 37.5 | ||||||
Crestwood Niobrara LLC | Tres Palacios Holdings LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investment in unconsolidated affiliates in period | 11 | 5.7 | ||||||
Crestwood Niobrara LLC | Jackalope Gas Gathering Services, LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investment in unconsolidated affiliates in period | $ 1.4 | $ 25.4 | $ 105.2 | |||||
Williams Partners LP | Jackalope Gas Gathering Services, LLC | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of voting interests acquired | 50.00% |
Risk Management (Narrative) (De
Risk Management (Narrative) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | |||||
Collateral posted for commodity derivative instruments | $ 2 | $ 4.3 | $ 16.8 | ||
Products and services sold | |||||
Derivative [Line Items] | |||||
Gain (Loss) on derivative instruments not designated as hedging | 7.8 | 18.9 | $ 51.2 | ||
Commodity contract | |||||
Derivative [Line Items] | |||||
Gain (Loss) on derivative instruments not designated as hedging | 5.4 | $ 1.2 | |||
Aggregate fair value of commodity derivative instruments | $ 13.9 | 3.3 | |||
Collateral posted for commodity derivative instruments | $ 0.1 | 0.1 | |||
Price Risk Contracts | Maximum | |||||
Derivative [Line Items] | |||||
Remaining maturity | 36 months | 28 months | |||
Percent of contracts expiring in next twelve months | 81.00% | 81.00% | |||
Commodity contract with credit contingent features | |||||
Derivative [Line Items] | |||||
Aggregate fair value of commodity derivative instruments | $ 4.8 | $ 13.9 | |||
NYMEX Derivative Liability | |||||
Derivative [Line Items] | |||||
Aggregate fair value of commodity derivative instruments | 14.3 | 20.8 | |||
Derivative Asset | 4.6 | 14.3 | |||
NYMEX Margin Deposit | |||||
Derivative [Line Items] | |||||
NYMEX margin deposit | $ 0.9 | $ 4.2 | $ 26.7 |
Risk Management (Notional Amoun
Risk Management (Notional Amounts and Terms of Company's Derivative Financial Instruments) (Detail) - Propane, crude and heating oil (MMBbls) - bbl bbl in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Fixed Price Payor | |||
Derivative [Line Items] | |||
Derivative, notional amount | 12.8 | 13.1 | 9.1 |
Fixed Price Receiver | |||
Derivative [Line Items] | |||
Derivative, notional amount | 14 | 15.1 | 10.9 |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule of Carrying Values and Estimated Fair Values of Senior Notes) (Detail) - Crestwood Midstream Partners LP - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Senior Notes, 2020 | |||
Debt Instrument [Line Items] | |||
Carrying amount | $ 13.9 | $ 340.6 | $ 503.3 |
Fair value | 14.2 | 350.2 | 382.3 |
Senior Notes, 2022 | |||
Debt Instrument [Line Items] | |||
Carrying amount | 0 | 429.3 | 588.4 |
Fair value | 0 | 447.3 | 437.4 |
Senior Notes, 2023 | |||
Debt Instrument [Line Items] | |||
Carrying amount | 691 | 690.6 | 689.4 |
Fair value | 728.6 | 722.6 | $ 491.8 |
Senior Notes, 2025 | |||
Debt Instrument [Line Items] | |||
Carrying amount | 491.6 | 0 | |
Fair value | $ 511.3 | $ 0 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On Recurring Basis) (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Netting agreements | $ (34.3) | $ (67.8) | $ (13.7) |
Assets from price risk management | 41.2 | 85 | 58.3 |
Derivative Asset, Fair Value of Collateral | (0.2) | (10.9) | (12) |
Assets from price risk management, total | 6.7 | 6.3 | 32.6 |
SPH units | 3.9 | 4.3 | 3.4 |
Total assets at fair value | 10.6 | 10.6 | 36 |
Assets, Fair Value Disclosure, Excluding Netting Adjustments | 45.1 | 89.3 | 61.7 |
Netting agreements | (34.3) | (67.8) | (13.7) |
Liabilities from price risk management | 42.8 | 92.9 | 41.5 |
Derivative Liability, Fair Value of Collateral | 0.9 | 3.5 | 20.4 |
Liabilities, Fair Value Disclosure, Excluding Netting Adjustments | 42.8 | 92.9 | 41.5 |
Liabilities from price risk management, total | 9.4 | 28.6 | 7.4 |
Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets from price risk management | 1.3 | 0.6 | 0.5 |
SPH units | 3.9 | 4.3 | 3.4 |
Assets, Fair Value Disclosure, Excluding Netting Adjustments | 5.2 | 4.9 | 3.9 |
Liabilities from price risk management | 1.5 | 2.7 | 0.2 |
Liabilities, Fair Value Disclosure, Excluding Netting Adjustments | 1.5 | 2.7 | 0.2 |
Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets from price risk management | 39.9 | 84.4 | 57.8 |
SPH units | 0 | 0 | 0 |
Assets, Fair Value Disclosure, Excluding Netting Adjustments | 39.9 | 84.4 | 57.8 |
Liabilities from price risk management | 41.3 | 90.2 | 41.3 |
Liabilities, Fair Value Disclosure, Excluding Netting Adjustments | 41.3 | 90.2 | 41.3 |
Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets from price risk management | 0 | 0 | 0 |
SPH units | 0 | 0 | 0 |
Assets, Fair Value Disclosure, Excluding Netting Adjustments | 0 | 0 | 0 |
Liabilities from price risk management | 0 | 0 | 0 |
Liabilities, Fair Value Disclosure, Excluding Netting Adjustments | $ 0 | $ 0 | $ 0 |
Long-Term Debt (Components Of L
Long-Term Debt (Components Of Long-Term Debt) (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | |||
Deferred Finance Costs, Net | $ 33.8 | $ 34 | $ 40.9 |
Total debt | 1,565.1 | 1,523.7 | |
Less: current portion | 14.8 | 1 | 1.1 |
Total long-term debt, less current portion | 1,550.3 | 1,522.7 | 2,501.8 |
Crestwood Midstream Partners LP | |||
Debt Instrument [Line Items] | |||
Total debt | 1,523.7 | 2,502.7 | |
Less: current portion | 14.8 | 1 | 0.9 |
Total long-term debt, less current portion | 1,550.3 | 1,522.7 | 2,501.8 |
Crestwood Equity Partners LP | |||
Debt Instrument [Line Items] | |||
Total debt | 1,523.7 | 2,502.9 | |
Obligations under noncompetition agreements and notes to former owners of businesses acquired | 0 | 0.2 | |
Senior Notes, 2020 | Crestwood Midstream Partners LP | |||
Debt Instrument [Line Items] | |||
Senior notes | 13.9 | 340.6 | 503.3 |
Senior Notes, 2022 | |||
Debt Instrument [Line Items] | |||
Deferred Finance Costs, Net | 6.8 | ||
Senior Notes, 2022 | Crestwood Midstream Partners LP | |||
Debt Instrument [Line Items] | |||
Senior notes | 0 | 429.3 | 588.4 |
Senior Notes, 2023 | Crestwood Midstream Partners LP | |||
Debt Instrument [Line Items] | |||
Senior notes | 691 | 690.6 | 689.4 |
Senior Notes, 2025 | Crestwood Midstream Partners LP | |||
Debt Instrument [Line Items] | |||
Senior notes | 491.6 | 0 | |
Senior Notes | Senior Notes, 2020 | |||
Debt Instrument [Line Items] | |||
Senior notes | 13.8 | 338.8 | 500 |
Senior Notes | Senior Notes, 2022 | |||
Debt Instrument [Line Items] | |||
Senior notes | 0 | 436.4 | 600 |
Senior Notes | Senior Notes, 2023 | |||
Debt Instrument [Line Items] | |||
Senior notes | 700 | 700 | 700 |
Senior Notes | Senior Notes, 2025 | |||
Debt Instrument [Line Items] | |||
Senior notes | 500 | 0 | |
Fair value adjustment of 2020 Senior Notes | Senior Notes, 2020 | |||
Debt Instrument [Line Items] | |||
Fair value adjustment | 0.1 | 1.8 | 3.3 |
Other | |||
Debt Instrument [Line Items] | |||
Other | 3.3 | 3.7 | 5.3 |
Revolving Credit Facility | Crestwood Midstream Revolver | |||
Debt Instrument [Line Items] | |||
Credit agreement outstanding carrying value | $ 381.7 | $ 77 | $ 735 |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Detail) | Feb. 14, 2017USD ($) | Nov. 14, 2016USD ($) | Aug. 12, 2016USD ($) | May 13, 2016USD ($) | Feb. 12, 2016USD ($) | Nov. 13, 2015USD ($) | Aug. 14, 2015USD ($) | May 15, 2015USD ($) | Feb. 13, 2015USD ($) | Nov. 14, 2014USD ($) | Aug. 14, 2014USD ($) | May 15, 2014USD ($) | Feb. 14, 2014USD ($) | Apr. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Jun. 30, 2016USD ($) | Apr. 30, 2015USD ($) | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Debt Instrument [Line Items] | |||||||||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 41,800,000 | $ 41,400,000 | $ 41,400,000 | $ 41,400,000 | $ 95,600,000 | $ 94,300,000 | $ 25,700,000 | $ 25,700,000 | $ 25,800,000 | $ 25,600,000 | $ 25,600,000 | $ 25,700,000 | $ 25,600,000 | $ 219,800,000 | $ 171,500,000 | $ 102,500,000 | |||||||
Gains (Losses) on Extinguishment of Debt | $ (37,300,000) | $ 0 | 10,000,000 | (20,000,000) | 0 | ||||||||||||||||||
Senior Secured Leverage Ratio | 0.94 | 0.94 | |||||||||||||||||||||
Senior Secured Leverage Ratio, maximum | 3.75 | 3.75 | |||||||||||||||||||||
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | 2,550,700,000 | ||||||||||||||||||||||
Repayments of Senior Debt | $ 312,900,000 | ||||||||||||||||||||||
Early Repayment of Senior Debt | 0 | 13,600,000 | 0 | ||||||||||||||||||||
Deferred Finance Costs, Net | $ 33,800,000 | $ 33,800,000 | $ 34,000,000 | 40,900,000 | |||||||||||||||||||
Financial Guarantee [Member] | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | ||||||||||||||||||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 497,000,000 | ||||||||||||||||||||||
Crestwood Midstream Credit Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | 350,000,000 | 350,000,000 | $ 350,000,000 | ||||||||||||||||||||
Line of Credit Facility, Lender Consent Borrowing Capacity | 325,000,000 | $ 325,000,000 | |||||||||||||||||||||
Crestwood Midstream Credit Facility | Minimum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.30% | ||||||||||||||||||||||
Crestwood Midstream Credit Facility | Maximum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.50% | ||||||||||||||||||||||
Crestwood Midstream Credit Facility | Revolving Credit Facility | Eurodollar [Member] | Minimum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Variable interest rate | 1.75% | ||||||||||||||||||||||
Crestwood Midstream Credit Facility | Revolving Credit Facility | Eurodollar [Member] | Maximum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Variable interest rate | 2.75% | ||||||||||||||||||||||
Crestwood Midstream Revolver | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Gains (Losses) on Extinguishment of Debt | $ (1,800,000) | ||||||||||||||||||||||
Consolidated leverage ratio, maximum | 550.00% | 550.00% | |||||||||||||||||||||
Crestwood Midstream Revolver | Revolving Credit Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | 644,400,000 | $ 644,400,000 | $ 734,400,000 | ||||||||||||||||||||
Letters of credit outstanding | $ 70,800,000 | $ 70,800,000 | $ 64,000,000 | $ 62,200,000 | |||||||||||||||||||
Debt, Weighted Average Interest Rate | 3.36% | 3.36% | 3.23% | 2.70% | |||||||||||||||||||
Total funded debt to consolidated EBITDA | 3.92 | 3.74 | |||||||||||||||||||||
Consolidated EBITDA to consolidated interest expense | 3.90 | 3.92 | |||||||||||||||||||||
Senior Secured Leverage Ratio | 0.18 | ||||||||||||||||||||||
Interest Coverage Ratio Minimum | 2.50 | 2.50 | |||||||||||||||||||||
Senior Secured Leverage Ratio, maximum | 3.75 | ||||||||||||||||||||||
Crestwood Midstream Revolver | Revolving Credit Facility | Minimum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt, Weighted Average Interest Rate | 3.15% | 3.15% | 3.21% | 2.70% | |||||||||||||||||||
Crestwood Midstream Revolver | Revolving Credit Facility | Maximum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt, Weighted Average Interest Rate | 5.25% | 5.25% | 5.25% | 5.00% | |||||||||||||||||||
Crestwood Midstream Revolver | Revolving Credit Facility | Federal Funds Rate | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Variable interest rate | 0.50% | ||||||||||||||||||||||
Crestwood Midstream Revolver | Revolving Credit Facility | Eurodollar [Member] | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Variable interest rate | 1.00% | ||||||||||||||||||||||
Crestwood Midstream Revolver | Revolving Credit Facility | Eurodollar [Member] | Minimum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Variable interest rate | 0.75% | ||||||||||||||||||||||
Crestwood Midstream Revolver | Revolving Credit Facility | Eurodollar [Member] | Maximum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Variable interest rate | 1.75% | ||||||||||||||||||||||
Crestwood Midstream Revolver | Bridge Loan | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Credit agreement outstanding carrying value | $ 25,000,000 | ||||||||||||||||||||||
Crestwood Midstream Revolver | Line of Credit [Member] | Revolving Credit Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Proceeds from Issuance of Debt | 720,000,000 | ||||||||||||||||||||||
Senior Notes, 2020 | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Repayments of Senior Debt | $ 325,000,000 | ||||||||||||||||||||||
Senior Notes, 2020 | Subsequent Event | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Gains (Losses) on Extinguishment of Debt | $ (300,000) | ||||||||||||||||||||||
Repayments of Senior Debt | $ 14,200,000 | ||||||||||||||||||||||
Senior Notes, 2020 | Senior Notes | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||||||||||||||||||
Senior notes | 13,800,000 | $ 13,800,000 | $ 338,800,000 | $ 500,000,000 | |||||||||||||||||||
Extinguishment of Debt, Amount | 13,800,000 | 161,200,000 | |||||||||||||||||||||
Interest Paid | 4,500,000 | 4,800,000 | |||||||||||||||||||||
Senior Notes, 2022 | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Repayments of Senior Debt | 793,500,000 | ||||||||||||||||||||||
Deferred Finance Costs, Net | 6,800,000 | 6,800,000 | |||||||||||||||||||||
Senior Notes, 2022 | Senior Notes | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.125% | ||||||||||||||||||||||
Senior notes | 0 | 0 | $ 436,400,000 | 600,000,000 | |||||||||||||||||||
Extinguishment of Debt, Amount | 163,600,000 | ||||||||||||||||||||||
Interest Paid | $ 2,600,000 | 1,000,000 | |||||||||||||||||||||
Senior Notes, 2023 | Senior Notes | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | ||||||||||||||||||||||
Senior notes | $ 700,000,000 | $ 700,000,000 | $ 700,000,000 | 700,000,000 | |||||||||||||||||||
Senior Notes, 2019 | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Gains (Losses) on Extinguishment of Debt | $ (17,100,000) | ||||||||||||||||||||||
Senior Notes, 2019 | Senior Notes | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.75% | ||||||||||||||||||||||
Interest Paid | $ 500,000 | ||||||||||||||||||||||
Early Repayment of Senior Debt | 364,100,000 | ||||||||||||||||||||||
Call Premium On Debt Redemption | 13,600,000 | ||||||||||||||||||||||
Senior Notes, 2025 | Senior Notes | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% | |||||||||||||||||||||
Senior notes | $ 500,000,000 | $ 500,000,000 | 0 | ||||||||||||||||||||
Crestwood Midstream Partners LP | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 74,300,000 | $ 74,300,000 | $ 74,300,000 | $ 74,100,000 | $ 74,100,000 | $ 74,200,000 | $ 74,100,000 | 222,900,000 | 296,500,000 | ||||||||||||||
Gains (Losses) on Extinguishment of Debt | (37,300,000) | $ 0 | 10,000,000 | (18,900,000) | 0 | ||||||||||||||||||
Early Repayment of Senior Debt | 0 | 13,600,000 | $ 0 | ||||||||||||||||||||
Crestwood Midstream Partners LP | Revolving Credit Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Credit agreement outstanding carrying value | 1,500,000,000 | 1,000,000,000 | |||||||||||||||||||||
Crestwood Midstream Partners LP | Senior Notes, 2020 | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Senior notes | 13,900,000 | 13,900,000 | 340,600,000 | 503,300,000 | |||||||||||||||||||
Crestwood Midstream Partners LP | Senior Notes, 2022 | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Senior notes | 0 | 0 | 429,300,000 | 588,400,000 | |||||||||||||||||||
Crestwood Midstream Partners LP | Senior Notes, 2023 | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Senior notes | 691,000,000 | 691,000,000 | 690,600,000 | 689,400,000 | |||||||||||||||||||
Crestwood Midstream Partners LP | Senior Notes, 2023 | Senior Notes | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Proceeds from Issuance of Debt | 688,300,000 | ||||||||||||||||||||||
Crestwood Midstream Partners LP | Senior Notes, 2019 | Senior Notes | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Long-term Debt | $ 350,000,000 | ||||||||||||||||||||||
Crestwood Midstream Partners LP | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Total payments due | 4,200,000 | 6,600,000 | |||||||||||||||||||||
Obligations under noncompete agreements, unamortized discount | $ 500,000 | 1,300,000 | |||||||||||||||||||||
Crestwood Midstream Partners LP | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | Minimum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Inputed interest | 5.02% | ||||||||||||||||||||||
Crestwood Midstream Partners LP | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | Maximum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Inputed interest | 8.00% | ||||||||||||||||||||||
Crestwood Midstream Partners LP | Senior Notes, 2025 | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Senior notes | $ 491,600,000 | 491,600,000 | $ 0 | ||||||||||||||||||||
Crestwood Midstream Partners LP | Senior Notes, 2025 | Senior Notes | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Proceeds from Issuance of Debt | $ 492,000,000 | ||||||||||||||||||||||
Crestwood Equity Partners LP | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 378,300,000 | ||||||||||||||||||||||
Crestwood Equity Partners LP | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Total payments due | 4,200,000 | 6,800,000 | |||||||||||||||||||||
Obligations under noncompete agreements, unamortized discount | $ 500,000 | $ 1,300,000 | |||||||||||||||||||||
Crestwood Equity Partners LP | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | Minimum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Inputed interest | 5.02% | ||||||||||||||||||||||
Crestwood Equity Partners LP | Obligations Under Noncompetition Agreements And Notes To Former Owners Of Businesses Acquired | Maximum | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Inputed interest | 8.00% |
Long-Term Debt (Maturities of L
Long-Term Debt (Maturities of Long Term Debt) (Detail) - Crestwood Midstream Partners LP $ in Millions | Dec. 31, 2016USD ($) |
Debt Instrument [Line Items] | |
2,017 | $ 1 |
2,018 | 0.9 |
2,019 | 1 |
2,020 | 417.8 |
2,021 | 0.3 |
Thereafter | 1,136.7 |
Total debt | $ 1,557.7 |
Earnings Per Limited Partner 65
Earnings Per Limited Partner Unit (Detail) - shares | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Preferred Units | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Units excluded from dilutive earnings per share | 6,807,223 | 6,212,256 | 6,433,127 | 1,547,060 |
Preferred Units | Crestwood Niobrara LLC | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Units excluded from dilutive earnings per share | 7,117,610 | 19,262,780 | 7,548,624 | 2,760,794 |
Subordinated Units | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Units excluded from dilutive earnings per share | 438,789 | 438,789 | 438,789 |
Income Taxes (Detail)
Income Taxes (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Deferred: | |||||
Total deferred | $ 0.6 | $ 0.1 | $ 3.1 | $ 3.6 | $ 5.2 |
(Provision) benefit for income taxes | 0.1 | 0 | (0.3) | 1.4 | (1.1) |
Crestwood Equity Partners LP | |||||
Current: | |||||
Federal | (3.2) | (1.6) | (5) | ||
State | (0.2) | (0.6) | (1.3) | ||
Total current | (3.4) | (2.2) | (6.3) | ||
Deferred: | |||||
Federal | 3 | 2.9 | 5.3 | ||
State | 0.1 | 0.7 | (0.1) | ||
Total deferred | 3.1 | 3.6 | 5.2 | ||
(Provision) benefit for income taxes | (0.3) | 1.4 | (1.1) | ||
Deferred tax asset: | |||||
Basis difference in stock of company | 0.2 | 0.5 | |||
Total deferred tax asset | 0.2 | 0.5 | |||
Deferred tax liability: | |||||
Basis difference in stock of acquired company | (5.5) | (8.9) | |||
Total deferred tax liability | (5.5) | (8.9) | |||
Net deferred tax liability | (5.3) | (8.4) | |||
Crestwood Midstream Partners LP | |||||
Current: | |||||
Federal | 0 | 0 | 0 | ||
State | 0.2 | (0.3) | (0.2) | ||
Total current | 0.2 | (0.3) | (0.2) | ||
Deferred: | |||||
Federal | 0 | 0 | 0 | ||
State | (0.2) | 0.3 | (0.7) | ||
Total deferred | 0 | (0.2) | (0.2) | 0.3 | (0.7) |
(Provision) benefit for income taxes | $ 0.1 | $ 0.2 | 0 | 0 | $ (0.9) |
Deferred tax asset: | |||||
Basis difference in stock of company | 0 | 0 | |||
Total deferred tax asset | 0 | 0 | |||
Deferred tax liability: | |||||
Basis difference in stock of acquired company | (0.7) | (0.4) | |||
Total deferred tax liability | (0.7) | (0.4) | |||
Net deferred tax liability | $ (0.7) | $ (0.4) |
Partners' Capital (Narrative) (
Partners' Capital (Narrative) (Detail) | May 15, 2017 | May 08, 2017 | Apr. 20, 2017USD ($)$ / sharesshares | Feb. 14, 2017USD ($)$ / sharesshares | Feb. 07, 2017 | Nov. 14, 2016USD ($) | Nov. 07, 2016 | Aug. 12, 2016USD ($) | Aug. 05, 2016 | May 13, 2016USD ($) | May 06, 2016 | Feb. 12, 2016USD ($) | Feb. 05, 2016 | Nov. 13, 2015USD ($) | Nov. 06, 2015 | Aug. 14, 2015USD ($) | Aug. 10, 2015USD ($) | Aug. 07, 2015 | May 15, 2015USD ($) | May 08, 2015 | Feb. 13, 2015USD ($) | Feb. 06, 2015 | Jan. 30, 2015shares | Nov. 14, 2014USD ($) | Nov. 07, 2014 | Aug. 14, 2014USD ($) | Aug. 07, 2014 | Jun. 17, 2014USD ($)$ / shares | May 15, 2014USD ($) | May 08, 2014 | Feb. 14, 2014USD ($) | Feb. 07, 2014 | Apr. 30, 2017USD ($) | Feb. 28, 2017USD ($) | Dec. 31, 2014USD ($)shares | Mar. 31, 2017USD ($)shares | Mar. 31, 2016USD ($)shares | Sep. 30, 2015USD ($)shares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)$ / sharesshares | Jun. 15, 2016shares |
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Conversion ratio | 2.75 | |||||||||||||||||||||||||||||||||||||||||
Net proceeds from the issuance of Crestwood Midstream Partners LP Class A preferred units | $ 0 | $ 58,800,000 | $ 430,500,000 | |||||||||||||||||||||||||||||||||||||||
Preferred units, issued | shares | 68,072,226 | 66,533,415 | 60,718,245 | |||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | shares | 68,072,226 | 66,533,415 | 60,718,245 | |||||||||||||||||||||||||||||||||||||||
Maximum Period For Distribution Of Available Cash | 45 days | |||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | Feb. 14, 2017 | Nov. 14, 2016 | Aug. 12, 2016 | May 13, 2016 | Feb. 12, 2016 | Nov. 13, 2015 | Aug. 14, 2015 | May 15, 2015 | Feb. 13, 2015 | Nov. 14, 2014 | Aug. 14, 2014 | May 15, 2014 | Feb. 14, 2014 | |||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Feb. 7, 2017 | Nov. 7, 2016 | Aug. 5, 2016 | May 6, 2016 | Feb. 5, 2016 | Nov. 6, 2015 | Aug. 7, 2015 | May 8, 2015 | Feb. 6, 2015 | Nov. 7, 2014 | Aug. 7, 2014 | May 8, 2014 | Feb. 7, 2014 | |||||||||||||||||||||||||||||
Distribution made to limited partners | shares | 1,538,811 | 5,815,170 | 1,372,573 | |||||||||||||||||||||||||||||||||||||||
Dividends, Paid-in-kind | $ 14,000,000 | $ 14,000,000 | $ 12,800,000 | $ 53,000,000 | $ 12,500,000 | |||||||||||||||||||||||||||||||||||||
Common Units Available for Issuance | shares | 7,290,552 | |||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 41,800,000 | $ 41,400,000 | $ 41,400,000 | $ 41,400,000 | $ 95,600,000 | $ 94,300,000 | $ 25,700,000 | $ 25,700,000 | $ 25,800,000 | $ 25,600,000 | $ 25,600,000 | $ 25,700,000 | $ 25,600,000 | 219,800,000 | 171,500,000 | 102,500,000 | ||||||||||||||||||||||||||
Dividends received from CMLP | 227,600,000 | 31,400,000 | 72,400,000 | |||||||||||||||||||||||||||||||||||||||
Investment in unconsolidated affiliates in period | 100,000 | 5,500,000 | 12,400,000 | 42,000,000 | 108,600,000 | |||||||||||||||||||||||||||||||||||||
Issuance of preferred equity of subsidiary | 53,900,000 | |||||||||||||||||||||||||||||||||||||||||
Distributions paid to non-controlling partners | $ 3,800,000 | $ 3,800,000 | $ 15,200,000 | $ 234,200,000 | 296,500,000 | |||||||||||||||||||||||||||||||||||||
Limited partners' units, issued | shares | 70,142,803 | 69,499,741 | 68,555,305 | |||||||||||||||||||||||||||||||||||||||
Preferred Stock Dividends, Shares | shares | 1,538,811 | 1,404,317 | ||||||||||||||||||||||||||||||||||||||||
Net income attributable to non-controlling partners in subsidiaries | $ 6,100,000 | $ 5,900,000 | $ 24,200,000 | $ (636,800,000) | $ (66,800,000) | |||||||||||||||||||||||||||||||||||||
Subsequent Event | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | May 15, 2017 | |||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | May 8, 2017 | |||||||||||||||||||||||||||||||||||||||||
Dividends, Paid-in-kind | $ 14,400,000 | |||||||||||||||||||||||||||||||||||||||||
Preferred Stock Dividends, Shares | shares | 1,574,404 | |||||||||||||||||||||||||||||||||||||||||
Tres Palacios Holdings LLC | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Investment in unconsolidated affiliates in period | $ 132,800,000 | $ 0 | 5,500,000 | |||||||||||||||||||||||||||||||||||||||
Equity method ownership percentage | 50.01% | 50.01% | ||||||||||||||||||||||||||||||||||||||||
Jackalope Gas Gathering Services, LLC | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Investment in unconsolidated affiliates in period | $ 100,000 | 0 | ||||||||||||||||||||||||||||||||||||||||
Equity method ownership percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||||||||||||||
Preferred Partner [Member] | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Partners' Capital, Distribution Amount Per Share | $ / shares | $ 0.2567 | |||||||||||||||||||||||||||||||||||||||||
Partners' Capital, Contingent Distribution Amount Per Share | $ / shares | $ 0.2111 | |||||||||||||||||||||||||||||||||||||||||
Partner's Capital, Unpaid Distribution, Accrual Percentage | 2.8125% | |||||||||||||||||||||||||||||||||||||||||
Limited Partners | Subordinated Unit | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Limited partners' units, issued | shares | 438,789 | 438,789 | 438,789 | |||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Cash Distribution Threshold, Quarterly Distribution | $ / shares | $ 1.30 | |||||||||||||||||||||||||||||||||||||||||
Partners' Capital Account, Units, Conversion Threshold, Cumulative Distribution | $ / shares | 5.20 | |||||||||||||||||||||||||||||||||||||||||
Cash Distribution | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | Feb. 14, 2017 | |||||||||||||||||||||||||||||||||||||||||
Distribution declared per limited partner unit | $ / shares | $ 0.600 | |||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Feb. 7, 2017 | |||||||||||||||||||||||||||||||||||||||||
Distributions paid to non-controlling partners | 222,900,000 | $ 296,500,000 | ||||||||||||||||||||||||||||||||||||||||
Cash Distribution | Subsequent Event | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Distribution declared per limited partner unit | $ / shares | $ 0.60 | |||||||||||||||||||||||||||||||||||||||||
Preferred Units, Class A | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Net proceeds from the issuance of Crestwood Midstream Partners LP Class A preferred units | $ 58,800,000 | 430,500,000 | ||||||||||||||||||||||||||||||||||||||||
Contribution from issuance of units | $ 17,529,879 | |||||||||||||||||||||||||||||||||||||||||
"Partners' Capital Account, Private Placement of Units, Price Per Unit | $ / shares | $ 25.10 | $ 9.13 | $ 25.10 | |||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Preferred Limited Partners Units, Gross | $ 60,000,000 | $ 440,000,000 | ||||||||||||||||||||||||||||||||||||||||
Preferred Units, Class A | Maximum | Class A Purchasers | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Contribution from issuance of units | $ 500,000,000 | |||||||||||||||||||||||||||||||||||||||||
Preferred Units | Jackalope Gas Gathering Services, LLC | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Distribution made to limited partners | shares | 3,680,570 | 11,419,241 | ||||||||||||||||||||||||||||||||||||||||
Crestwood Niobrara LLC | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Issuance of preferred equity of subsidiary | 150,000,000 | |||||||||||||||||||||||||||||||||||||||||
Distributions paid to non-controlling partners | $ 3,800,000 | |||||||||||||||||||||||||||||||||||||||||
Net income attributable to non-controlling partners in subsidiaries | 6,100,000 | 5,900,000 | $ 24,200,000 | 23,100,000 | 16,800,000 | |||||||||||||||||||||||||||||||||||||
Crestwood Niobrara LLC | Subsequent Event | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Distributions paid to non-controlling partners | $ 3,800,000 | |||||||||||||||||||||||||||||||||||||||||
Crestwood Niobrara LLC | Tres Palacios Holdings LLC | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Investment in unconsolidated affiliates in period | 11,000,000 | 5,700,000 | ||||||||||||||||||||||||||||||||||||||||
Crestwood Niobrara LLC | Jackalope Gas Gathering Services, LLC | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Investment in unconsolidated affiliates in period | 1,400,000 | 25,400,000 | 105,200,000 | |||||||||||||||||||||||||||||||||||||||
Crestwood Niobrara LLC | Cash Distribution | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Distributions paid to non-controlling partners | $ 3,800,000 | $ 15,200,000 | $ 11,300,000 | |||||||||||||||||||||||||||||||||||||||
Crestwood Equity Partners LP | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Preferred units, issued | shares | 59,345,672 | |||||||||||||||||||||||||||||||||||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 99.90% | |||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 378,300,000 | |||||||||||||||||||||||||||||||||||||||||
Crestwood Midstream Partners LP | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Net proceeds from the issuance of Crestwood Midstream Partners LP Class A preferred units | $ 0 | $ 58,800,000 | 430,500,000 | |||||||||||||||||||||||||||||||||||||||
Preferred Units, Outstanding | shares | 21,580,244 | |||||||||||||||||||||||||||||||||||||||||
Maximum Period For Distribution Of Available Cash | 45 days | |||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | Aug. 14, 2015 | May 15, 2015 | Feb. 13, 2015 | Nov. 14, 2014 | Aug. 14, 2014 | May 15, 2014 | Feb. 14, 2014 | |||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Aug. 7, 2015 | May 8, 2015 | Feb. 6, 2015 | Nov. 7, 2014 | Aug. 7, 2014 | May 8, 2014 | Feb. 7, 2014 | |||||||||||||||||||||||||||||||||||
Distribution made to limited partners | shares | 1,271,935 | 387,991 | ||||||||||||||||||||||||||||||||||||||||
Dividends, Paid-in-kind | $ 31,900,000 | $ 9,700,000 | ||||||||||||||||||||||||||||||||||||||||
Distribution Made to General Partner, Cash Distributions Paid | 43,100,000 | 97,200,000 | 31,400,000 | 41,800,000 | ||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 74,300,000 | $ 74,300,000 | $ 74,300,000 | $ 74,100,000 | $ 74,100,000 | $ 74,200,000 | $ 74,100,000 | 222,900,000 | 296,500,000 | |||||||||||||||||||||||||||||||||
Dividends received from CMLP | 227,600,000 | 175,600,000 | 101,600,000 | |||||||||||||||||||||||||||||||||||||||
Investment in unconsolidated affiliates in period | 100,000 | 5,500,000 | 12,400,000 | 41,800,000 | 144,400,000 | |||||||||||||||||||||||||||||||||||||
Issuance of preferred equity of subsidiary | 53,900,000 | |||||||||||||||||||||||||||||||||||||||||
Net income attributable to non-controlling partners in subsidiaries | $ 6,100,000 | $ 5,900,000 | $ 24,200,000 | 23,100,000 | 16,800,000 | |||||||||||||||||||||||||||||||||||||
Crestwood Midstream Partners LP | Tres Palacios Holdings LLC | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to General Partner, Cash Distributions Paid | 30,600,000 | |||||||||||||||||||||||||||||||||||||||||
Investment in unconsolidated affiliates in period | $ 66,400,000 | |||||||||||||||||||||||||||||||||||||||||
Equity method ownership percentage | 50.01% | |||||||||||||||||||||||||||||||||||||||||
Crestwood Midstream Partners LP | Preferred Partner [Member] | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
"Partners' Capital Account, Private Placement of Units, Price Per Unit | $ / shares | $ 25.10 | |||||||||||||||||||||||||||||||||||||||||
Partners' Capital, Distribution Amount Per Share | $ / shares | $ 0.5804 | |||||||||||||||||||||||||||||||||||||||||
Crestwood Midstream Partners LP | Limited Partners | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Net income attributable to non-controlling partners in subsidiaries | $ 0 | $ (683,000,000) | $ (100,800,000) | |||||||||||||||||||||||||||||||||||||||
Crestwood Gas Services GP, LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 0.10% |
Partners' Capital (Schedule of
Partners' Capital (Schedule of Partnership Distributions) (Detail) - USD ($) $ / shares in Units, $ in Millions | Feb. 14, 2017 | Feb. 07, 2017 | Nov. 14, 2016 | Nov. 07, 2016 | Aug. 12, 2016 | Aug. 05, 2016 | May 13, 2016 | May 06, 2016 | Feb. 12, 2016 | Feb. 05, 2016 | Nov. 13, 2015 | Nov. 06, 2015 | Aug. 14, 2015 | Aug. 07, 2015 | May 15, 2015 | May 08, 2015 | Feb. 13, 2015 | Feb. 06, 2015 | Nov. 14, 2014 | Nov. 07, 2014 | Aug. 14, 2014 | Aug. 07, 2014 | May 15, 2014 | May 08, 2014 | Feb. 14, 2014 | Feb. 07, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Distribution Made to Limited Partner [Line Items] | |||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Feb. 7, 2017 | Nov. 7, 2016 | Aug. 5, 2016 | May 6, 2016 | Feb. 5, 2016 | Nov. 6, 2015 | Aug. 7, 2015 | May 8, 2015 | Feb. 6, 2015 | Nov. 7, 2014 | Aug. 7, 2014 | May 8, 2014 | Feb. 7, 2014 | ||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | Feb. 14, 2017 | Nov. 14, 2016 | Aug. 12, 2016 | May 13, 2016 | Feb. 12, 2016 | Nov. 13, 2015 | Aug. 14, 2015 | May 15, 2015 | Feb. 13, 2015 | Nov. 14, 2014 | Aug. 14, 2014 | May 15, 2014 | Feb. 14, 2014 | ||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.600 | $ 0.600 | $ 0.600 | $ 0.600 | $ 1.375 | $ 1.375 | $ 1.375 | $ 1.375 | $ 1.375 | $ 1.375 | $ 1.375 | $ 1.375 | $ 1.375 | ||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 41.8 | $ 41.4 | $ 41.4 | $ 41.4 | $ 95.6 | $ 94.3 | $ 25.7 | $ 25.7 | $ 25.8 | $ 25.6 | $ 25.6 | $ 25.7 | $ 25.6 | $ 219.8 | $ 171.5 | $ 102.5 | |||||||||||||
Crestwood Midstream Partners LP | |||||||||||||||||||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||||||||||||||||||
Distribution Made to Limited Partner, Date of Record | Aug. 7, 2015 | May 8, 2015 | Feb. 6, 2015 | Nov. 7, 2014 | Aug. 7, 2014 | May 8, 2014 | Feb. 7, 2014 | ||||||||||||||||||||||
Distribution Made to Limited Partner, Distribution Date | Aug. 14, 2015 | May 15, 2015 | Feb. 13, 2015 | Nov. 14, 2014 | Aug. 14, 2014 | May 15, 2014 | Feb. 14, 2014 | ||||||||||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | ||||||||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 74.3 | $ 74.3 | $ 74.3 | $ 74.1 | $ 74.1 | $ 74.2 | $ 74.1 | $ 222.9 | $ 296.5 |
Partners' Capital Net Income (L
Partners' Capital Net Income (Loss) Attributable to NonControlling Partners (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Limited Partners' Capital Account [Line Items] | |||||
Net income attributable to non-controlling partners in subsidiary | $ 6.1 | $ 5.9 | $ 24.2 | $ (636.8) | $ (66.8) |
Crestwood Midstream Partners LP | |||||
Limited Partners' Capital Account [Line Items] | |||||
Net income attributable to non-controlling partners in subsidiary | 6.1 | 5.9 | 24.2 | 23.1 | 16.8 |
Crestwood Niobrara LLC | |||||
Limited Partners' Capital Account [Line Items] | |||||
Net income attributable to non-controlling partners in subsidiary | $ 6.1 | $ 5.9 | 24.2 | 23.1 | 16.8 |
Preferred Units, Class A | Crestwood Midstream Partners LP | |||||
Limited Partners' Capital Account [Line Items] | |||||
Net income attributable to non-controlling partners in subsidiary | 0 | 23.1 | 17.2 | ||
Limited Partners | Crestwood Midstream Partners LP | |||||
Limited Partners' Capital Account [Line Items] | |||||
Net income attributable to non-controlling partners in subsidiary | $ 0 | $ (683) | $ (100.8) |
Equity Plans (Narrative) (Detai
Equity Plans (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Feb. 14, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation expense | $ 16 | $ 11.5 | $ 10.1 | |
Employer matching contribution, percent | 6.00% | |||
Crestwood LTIP | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common units to satisfy employee tax withholding obligations | 57,508 | 26,095 | ||
Crestwood LTIP | Restricted units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation costs not yet recognized | $ 14.9 | $ 16.5 | ||
Shares reserved for future issuance | 5,019,893 | |||
Crestwood Midstream Long-Term Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Conversion ratio | 2.75 | |||
Compensation expense | $ 8.1 | $ 11.2 | ||
Common units to satisfy employee tax withholding obligations | 139,331 | |||
Employee Unit Purchase Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Maximum annual contributions per employee, percent | 10.00% | |||
Employer matching contribution, percent | 10.00% | |||
Maximum purchasable units | 200,000 |
Equity Plans (Schedule of Phant
Equity Plans (Schedule of Phantom and Restricted Unit Activity) (Detail) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Crestwood Midstream Long-Term Incentive Plan | Restricted units | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Unvested units - December 31, units | 834,796 | |
Vested, units | (457,458) | |
Granted, units | 535,858 | |
Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease) | (823,277) | |
Canceled, units | (89,919) | |
Unvested units - December 31, units | 0 | 834,796 |
Unvested units - December 31 | $ 23.18 | |
Vested | 22.91 | |
Granted | 15.89 | |
Share Based Compensation Arrangement By Share Based Payment Award Other Shares Increase Decrease Weighted Average Grant Date Fair Value | 20.06 | |
Canceled | 16.05 | |
Unvested units - December 31 | $ 0 | $ 23.18 |
Crestwood Midstream Long-Term Incentive Plan | Phantom Share Units (PSUs) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Vested, units | (21,578) | |
Granted, units | 171,648 | |
Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease) | (150,070) | |
Vested | $ 16.05 | |
Granted | 15.76 | |
Share Based Compensation Arrangement By Share Based Payment Award Other Shares Increase Decrease Weighted Average Grant Date Fair Value | $ 18.93 | |
Crestwood LTIP | Restricted units | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Unvested units - December 31, units | 466,214 | 131,588 |
Vested, units | (193,295) | (91,798) |
Granted, units | 1,067,535 | 142,255 |
Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease) | 226,401 | |
Canceled, units | (65,591) | (20,994) |
Unvested units - December 31, units | 1,292,330 | 466,214 |
Unvested units - December 31 | $ 69.80 | $ 132.10 |
Vested | 76.82 | 121.13 |
Granted | 14.58 | 55.25 |
Share Based Compensation Arrangement By Share Based Payment Award Other Shares Increase Decrease Weighted Average Grant Date Fair Value | 68.85 | |
Canceled | 25.13 | 89.97 |
Unvested units - December 31 | $ 24.67 | $ 69.80 |
Crestwood LTIP | Phantom Share Units (PSUs) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Vested, units | (4,856) | |
Granted, units | 17,467 | 42,349 |
Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease) | 41,269 | |
Vested | $ 67.10 | |
Granted | $ 15.54 | 62.31 |
Share Based Compensation Arrangement By Share Based Payment Award Other Shares Increase Decrease Weighted Average Grant Date Fair Value | $ 58.36 | |
Employee Severance | Crestwood Midstream Long-Term Incentive Plan | Restricted units | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Canceled, units | (39,172) | |
Employee Severance | Crestwood LTIP | Restricted units | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Canceled, units | (7,263) |
Employee Benefit Plan (Narrativ
Employee Benefit Plan (Narrative) (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Postemployment Benefits [Abstract] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent | 90.00% | ||
Defined Benefit Plan, Employee Contributions, Statutory Maximum Per Employee | $ 18,000 | $ 18,000 | $ 17,500 |
Defined Contribution Plan Participants Basic Contribution | 100.00% | ||
Employer matching contribution, percent | 6.00% | ||
Defined Contribution Plan, Requisite Service Period | 90 days | ||
Defined Benefit Plan, Contributions by Employer | $ 3,800,000 | $ 4,000,000 | $ 3,800,000 |
Commitments and Contingencies73
Commitments and Contingencies (Detail) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Dec. 31, 2016 | Mar. 31, 2017 | Dec. 31, 2015 | Feb. 28, 2015 | |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||
Loss Contingency, Estimate of Possible Loss | $ 7 | ||||
Payments for Other Taxes | $ 2.1 | 8.6 | |||
Accrued property taxes | 4.2 | $ 4.9 | $ 4.8 | ||
Loss Contingency Accrual, at Carrying Value | 0.1 | 0.1 | 0.1 | ||
Self Insurance Reserve | 15.6 | 17 | 17.2 | ||
Self Insurance Reserve Expected To Be Paid Subsequent To Next Fiscal Year | 10.6 | 10.6 | |||
Identified Growth Projects | |||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||
Firm Purchase Commitments | 13.1 | ||||
Other Growth and Maintenance Contractual Purchase Obligations | |||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||
Firm Purchase Commitments | 19.7 | ||||
Commodity | |||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||
Firm Purchase Commitments | 312 | ||||
Antero | |||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||
Contingent consideration, current liability | 40 | $ 40 | |||
Crestwood Midstream Partners LP | |||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||
Accrued property taxes | 4.2 | 4.9 | 4.8 | ||
Self Insurance Reserve | 12.2 | 13.7 | $ 11.4 | ||
Self Insurance Reserve Expected To Be Paid Subsequent To Next Fiscal Year | 8 | $ 8 | |||
Tres Palacios Holdings LLC | |||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||
Loss Contingency, Estimate of Possible Loss | 2 | ||||
Tres Palacios [Member] | |||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||
Accrued property taxes | $ 2.9 |
Commitments and Contingencies E
Commitments and Contingencies Environmental Compliance (Detail) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($)bblRelease | Dec. 31, 2014Release | Dec. 31, 2015USD ($) | Sep. 15, 2015USD ($) | May 06, 2015bbl | |
Site Contingency [Line Items] | ||||||
Loss Contingency, Estimate of Possible Loss | $ 7 | |||||
Fort Berthold Indian Reservation | ||||||
Site Contingency [Line Items] | ||||||
Site Contingency, Loss Exposure, Number of Releases of Produced Water | Release | 3 | 3 | ||||
Site Contingency, Loss Exposure, Release of Produced Water | bbl | 28,000 | 5,200 | ||||
Accrual for Environmental Loss Contingencies | $ 2.1 | $ 2.1 | $ 1.7 | |||
Maximum | ||||||
Site Contingency [Line Items] | ||||||
Loss Contingency, Estimate of Possible Loss | $ 1.1 | |||||
Maximum | Fort Berthold Indian Reservation | ||||||
Site Contingency [Line Items] | ||||||
Site Contingency, Loss Exposure in Excess of Accrual, Best Estimate | 3.6 | 3.6 | ||||
Minimum | Fort Berthold Indian Reservation | ||||||
Site Contingency [Line Items] | ||||||
Site Contingency, Loss Exposure in Excess of Accrual, Best Estimate | $ 2.1 | $ 2.1 |
Commitments and Contingencies75
Commitments and Contingencies (Schedule of Future Minimum Lease Payments under Noncancelable Operatng Leases) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | |||
2,017 | $ 18.3 | ||
2,018 | 16.3 | ||
2,019 | 14.4 | ||
2,020 | 9.6 | ||
2,021 | 8.4 | ||
Thereafter | 18.5 | ||
Operating Leases, Future Minimum Payments Due | 85.5 | ||
Rent expense | $ 25.5 | $ 37.4 | $ 41.8 |
Related Party Transactions (Det
Related Party Transactions (Detail) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2015Person | |
Related Party Transaction [Line Items] | ||||||
General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net(4) | $ 4.7 | $ 0.7 | $ 7.7 | $ 2.8 | $ 0.2 | |
Gathering and processing revenues at CEQP and CMLP | 0.5 | 0.7 | 2.6 | 3.9 | 3 | |
Affiliated Entity | ||||||
Related Party Transaction [Line Items] | ||||||
Gathering and processing revenues at CEQP and CMLP | 0.5 | 0.7 | 2.6 | 3.9 | 3 | |
Gathering and processing costs of product/services sold at CEQP and CMLP(1) | 4.1 | 4.3 | 17.7 | 28.9 | 42.2 | |
General and administrative expenses charged by CEQP to CMLP, net(3) | 5.5 | 3.7 | 13 | 49.5 | 63.6 | |
Related party receivables | 7.8 | 5.6 | ||||
Related Party Transaction, Due from (to) Related Party [Abstract] | ||||||
Accounts payable at CEQP | 2.5 | 2.5 | ||||
Crestwood Equity Partners LP | ||||||
Related Party Transaction [Line Items] | ||||||
Related Party Transaction, (Income) Expenses from Transactions with Related Party | (0.8) | 0.1 | (2.2) | 0.4 | 0.5 | |
Crestwood Equity Partners LP | Affiliated Entity | ||||||
Related Party Transaction [Line Items] | ||||||
Related party receivables | 5.6 | 5.2 | ||||
Related Party Transaction, Due from (to) Related Party [Abstract] | ||||||
Accounts payable at CEQP | 2.5 | 4 | ||||
Crestwood Midstream Partners LP | ||||||
Related Party Transaction [Line Items] | ||||||
Entity Number of Employees | Person | 100 | |||||
Gathering and processing revenues at CEQP and CMLP | 0.5 | 0.7 | 2.6 | 3.9 | 3 | |
Crestwood Midstream Partners LP | Affiliated Entity | ||||||
Related Party Transaction [Line Items] | ||||||
General and administrative expenses charged by CEQP to CMLP, net(3) | 0.8 | 3 | 0.8 | |||
Related party receivables | 5.6 | 5.2 | ||||
Related Party Transaction, Due from (to) Related Party [Abstract] | ||||||
Accounts payable at CEQP | 0 | 1.5 | ||||
Tres Palacios Storage Company LLC | ||||||
Related Party Transaction [Line Items] | ||||||
General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net(4) | 2.7 | 2.8 | 0.2 | |||
Crestwood LTIP | Crestwood Midstream Partners LP | ||||||
Related Party Transaction [Line Items] | ||||||
Allocated Share-based Compensation Expense | 6.3 | 4.5 | 16 | 10 | $ 6.9 | |
Crestwood LTIP | Crestwood Holdings [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Allocated Share-based Compensation Expense | 1 | 0.1 | 3.2 | $ 0.1 | ||
Stagecoach Gas Services LLC | ||||||
Related Party Transaction [Line Items] | ||||||
General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net(4) | 2.6 | $ 5 | ||||
Tres Palacios Holdings LLC | ||||||
Related Party Transaction [Line Items] | ||||||
General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net(4) | 0.9 | $ 0.7 | ||||
Crestwood Permian Basin Holdings LLC | ||||||
Related Party Transaction [Line Items] | ||||||
General and administrative expenses at CEQP charged to (from) Crestwood Holdings, net(4) | $ 1.2 |
Segments (Reconciliation of Net
Segments (Reconciliation of Net Income (Loss) to EBITDA) (Detail) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017USD ($)Segment | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($)Segment | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||||
Number of Operating segments | Segment | 3 | 3 | |||
Net loss | $ (19.4) | $ (93.7) | $ (192.1) | $ (2,303.7) | $ (10.4) |
Interest and debt expense, net | 26.5 | 36.1 | 125.1 | 140.1 | 127.1 |
(Gain) loss on modification/extinguishment of debt | 37.3 | 0 | (10) | 20 | 0 |
Provision (benefit) for income taxes | (0.1) | 0 | 0.3 | (1.4) | 1.1 |
Depreciation, amortization and accretion | 48.4 | 62.3 | 229.6 | 300.1 | 285.3 |
EBITDA | 92.7 | 4.7 | 152.9 | (1,844.9) | 403.1 |
Crestwood Midstream Partners LP | |||||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||||
Net loss | (21.4) | (95.3) | (197.5) | (1,410.6) | 14.7 |
Interest and debt expense, net | 26.5 | 36.1 | 125.1 | 130.5 | 111.4 |
(Gain) loss on modification/extinguishment of debt | 37.3 | 0 | (10) | 18.9 | 0 |
Provision (benefit) for income taxes | (0.1) | (0.2) | 0 | 0 | 0.9 |
Depreciation, amortization and accretion | 51.2 | 64.9 | 240.5 | 278.5 | 255.4 |
EBITDA | $ 93.5 | $ 5.5 | $ 158.1 | $ (982.7) | $ 382.4 |
Segments (Narrative) (Detail)
Segments (Narrative) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Concentration Risk, Percentage | 10.00% | ||||
Revenues | $ 828.1 | $ 536 | $ 2,520.5 | $ 2,632.8 | $ 3,931.3 |
Crestwood Equity Partners LP | |||||
Interest, Taxes, Depreciation and Amortization included in Earnings from Equity Method Investments | 7.5 | 2.6 | 29.6 | 86.1 | 7.6 |
Crestwood Midstream Partners LP | |||||
Interest, Taxes, Depreciation and Amortization included in Earnings from Equity Method Investments | 7.5 | 2.6 | 29.6 | 86.1 | 7.6 |
Revenues | $ 828.1 | $ 536 | 2,520.5 | $ 2,632.8 | $ 3,917.5 |
Tesoro | |||||
Revenues | $ 465.2 |
Segments (Summary of Segment In
Segments (Summary of Segment Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | $ 828.1 | $ 536 | $ 2,520.5 | $ 2,632.8 | $ 3,931.3 |
Intersegment Revenues | 0 | 0 | 0 | 0 | 0 |
Costs of product/services sold | 683.5 | 363.4 | 1,925.1 | 1,883.5 | 3,165.3 |
Operations and maintenance | 33.7 | 41.8 | 158.1 | 190.2 | 203.3 |
General and administrative | 26.4 | 23 | 88.2 | 116.3 | 100.2 |
Loss on long-lived assets, net | (65.6) | (821.2) | (1.9) | ||
Goodwill impairment | 0 | (109.7) | (162.6) | (1,406.3) | (48.8) |
Loss on contingent consideration | 0 | 0 | (8.6) | ||
Earnings from unconsolidated affiliates, net | 8.1 | 6.5 | 31.5 | (60.8) | (0.7) |
Other income, net | 0.1 | 0.1 | 0.5 | 0.6 | 0.6 |
EBITDA | 92.7 | 4.7 | 152.9 | (1,844.9) | 403.1 |
Goodwill | 199 | 199 | 1,085.5 | 2,491.8 | |
Total assets | 4,374.8 | 4,448.9 | 5,762.8 | ||
Payments to Acquire Property, Plant, and Equipment | 22.7 | 55.6 | 100.7 | 182.7 | 424 |
Gathering and Processing Operations | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 368.6 | 238.9 | 1,118.8 | 1,381 | 2,166.8 |
Intersegment Revenues | 30.3 | 20.5 | 108.6 | 66.7 | 50 |
Costs of product/services sold | 316.6 | 179.8 | 917 | 1,103.9 | 1,859.9 |
Operations and maintenance | 17.4 | 17.8 | 77 | 89 | 102.8 |
General and administrative | 0 | 0 | 0 | 0 | 0 |
Loss on long-lived assets, net | (2) | (787.3) | (32.7) | ||
Goodwill impairment | (8.6) | (8.6) | (329.7) | (18.5) | |
Loss on contingent consideration | (8.6) | ||||
Earnings from unconsolidated affiliates, net | 1.6 | 5.1 | 20.3 | (43.4) | 0.5 |
Other income, net | 0 | 0 | 0 | 0 | 0 |
EBITDA | 66.5 | 58.3 | 243.1 | (905.6) | 194.8 |
Goodwill | 45.9 | 45.9 | 54.5 | ||
Total assets | 2,363.8 | 2,359.7 | 2,325.2 | ||
Payments to Acquire Property, Plant, and Equipment | 76.6 | 132.7 | 327.9 | ||
Storage and Transportation | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 10 | 59.4 | 165.3 | 266.3 | 264.6 |
Intersegment Revenues | 1.8 | 0.4 | 4.2 | 0 | 0 |
Costs of product/services sold | 0 | 2.9 | 5.1 | 20.1 | 33.3 |
Operations and maintenance | 1.1 | 7.2 | 21.4 | 31.7 | 28.8 |
General and administrative | 0 | 0 | 0 | 0 | 0 |
Loss on long-lived assets, net | (32.2) | (1.6) | 33.8 | ||
Goodwill impairment | (13.7) | (44.9) | (623.4) | 0 | |
Loss on contingent consideration | 0 | ||||
Earnings from unconsolidated affiliates, net | 6.5 | 1.4 | 11.2 | (17.4) | (1.2) |
Other income, net | 0 | 0 | 0 | 0 | 0 |
EBITDA | 17.2 | 37.4 | 77.1 | (427.9) | 235.1 |
Goodwill | 0 | 771.2 | |||
Total assets | 1,080.7 | 1,094.6 | 2,217.4 | ||
Payments to Acquire Property, Plant, and Equipment | 3.3 | 26.4 | 37 | ||
Marketing Supply and Logistics | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 449.5 | 237.7 | 1,236.4 | 985.5 | 1,499.9 |
Intersegment Revenues | (32.1) | (20.9) | (112.8) | (66.7) | (50) |
Costs of product/services sold | 366.9 | 180.7 | 1,003 | 759.5 | 1,272.1 |
Operations and maintenance | 15.2 | 16.8 | 59.7 | 69.5 | 71.7 |
General and administrative | 0 | 0 | 0 | 0 | 0 |
Loss on long-lived assets, net | (31.4) | (32.3) | (3) | ||
Goodwill impairment | (87.4) | (109.1) | (453.2) | (30.3) | |
Loss on contingent consideration | 0 | ||||
Earnings from unconsolidated affiliates, net | 0 | 0 | 0 | 0 | 0 |
Other income, net | 0 | 0 | 0 | 0 | 0 |
EBITDA | 35.3 | (68.1) | (79.6) | (395.7) | 72.8 |
Goodwill | 153.1 | 153.1 | 259.8 | ||
Total assets | 906.1 | 972.2 | 1,083.7 | ||
Payments to Acquire Property, Plant, and Equipment | 19.1 | 22.8 | 50.9 | ||
Corporate | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 0 | 0 | 0 | 0 | 0 |
Intersegment Revenues | 0 | 0 | 0 | 0 | 0 |
Costs of product/services sold | 0 | 0 | 0 | 0 | 0 |
Operations and maintenance | 0 | 0 | 0 | 0 | 0 |
General and administrative | 26.4 | 23 | 88.2 | 116.3 | 100.2 |
Loss on long-lived assets, net | 0 | 0 | 0 | ||
Goodwill impairment | 0 | 0 | 0 | 0 | |
Loss on contingent consideration | 0 | ||||
Earnings from unconsolidated affiliates, net | 0 | 0 | 0 | 0 | 0 |
Other income, net | 0.1 | 0.1 | 0.5 | 0.6 | 0.6 |
EBITDA | (26.3) | (22.9) | (87.7) | (115.7) | (99.6) |
Goodwill | 0 | 0 | 0 | ||
Total assets | 24.2 | 22.4 | 136.5 | ||
Payments to Acquire Property, Plant, and Equipment | 1.7 | 0.8 | 8.2 | ||
Crestwood Midstream Partners LP | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 828.1 | 536 | 2,520.5 | 2,632.8 | 3,917.5 |
Intersegment Revenues | 0 | 0 | 0 | 0 | 0 |
Costs of product/services sold | 683.5 | 363.4 | 1,925.1 | 1,883.5 | 3,154.8 |
Operations and maintenance | 33.7 | 41.7 | 155 | 188.7 | 195.4 |
General and administrative | 25.5 | 22.2 | 85.6 | 105.6 | 91.7 |
Loss on long-lived assets, net | (65.6) | (227.8) | (35.1) | ||
Goodwill impairment | 0 | (109.7) | (162.6) | (1,149.1) | (48.8) |
Loss on contingent consideration | 0 | 0 | (8.6) | ||
Earnings from unconsolidated affiliates, net | 8.1 | 6.5 | 31.5 | (60.8) | (0.7) |
EBITDA | 93.5 | 5.5 | 158.1 | (982.7) | 382.4 |
Goodwill | 199 | 199 | 1,085.5 | 2,234.6 | |
Total assets | 4,564.1 | 4,640.6 | 5,963.6 | ||
Payments to Acquire Property, Plant, and Equipment | 22.7 | 55.6 | 100.7 | 182.7 | 421.7 |
Crestwood Midstream Partners LP | Gathering and Processing Operations | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 368.6 | 238.9 | 1,118.8 | 1,381 | 2,166.8 |
Intersegment Revenues | 30.3 | 20.5 | 108.6 | 66.7 | 50 |
Costs of product/services sold | 316.6 | 179.8 | 917 | 1,103.9 | 1,859.9 |
Operations and maintenance | 17.4 | 17.8 | 77 | 89 | 102.8 |
General and administrative | 0 | 0 | 0 | 0 | 0 |
Loss on long-lived assets, net | (2) | (194.1) | (32.7) | ||
Goodwill impairment | (8.6) | (8.6) | (72.5) | (18.5) | |
Loss on contingent consideration | (8.6) | ||||
Earnings from unconsolidated affiliates, net | 1.6 | 5.1 | 20.3 | (43.4) | 0.5 |
EBITDA | 66.5 | 58.3 | 243.1 | (55.2) | 194.8 |
Goodwill | 45.9 | 45.9 | 54.5 | ||
Total assets | 2,562.4 | 2,561.9 | 2,541.6 | ||
Payments to Acquire Property, Plant, and Equipment | 76.6 | 132.7 | 327.9 | ||
Crestwood Midstream Partners LP | Storage and Transportation | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 10 | 59.4 | 165.3 | 266.3 | 250.8 |
Intersegment Revenues | 1.8 | 0.4 | 4.2 | 0 | 0 |
Costs of product/services sold | 0 | 2.9 | 5.1 | 20.1 | 22.8 |
Operations and maintenance | 1.1 | 7.1 | 18.3 | 30.2 | 22.1 |
General and administrative | 0 | 0 | 0 | 0 | 0 |
Loss on long-lived assets, net | (32.2) | (1.4) | 0.6 | ||
Goodwill impairment | (13.7) | (44.9) | (623.4) | 0 | |
Loss on contingent consideration | 0 | ||||
Earnings from unconsolidated affiliates, net | 6.5 | 1.4 | 11.2 | (17.4) | (1.2) |
EBITDA | 17.2 | 37.5 | 80.2 | (426.2) | 205.3 |
Goodwill | 0 | 0 | 771.2 | ||
Total assets | 1,080.7 | 1,094.6 | 2,216.7 | ||
Payments to Acquire Property, Plant, and Equipment | 3.3 | 26.4 | 36.4 | ||
Crestwood Midstream Partners LP | Marketing Supply and Logistics | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 449.5 | 237.7 | 1,236.4 | 985.5 | 1,499.9 |
Intersegment Revenues | (32.1) | (20.9) | (112.8) | (66.7) | (50) |
Costs of product/services sold | 366.9 | 180.7 | 1,003 | 759.5 | 1,272.1 |
Operations and maintenance | 15.2 | 16.8 | 59.7 | 69.5 | 70.5 |
General and administrative | 0 | 0 | 0 | 0 | 0 |
Loss on long-lived assets, net | (31.4) | (32.3) | (3) | ||
Goodwill impairment | (87.4) | (109.1) | (453.2) | (30.3) | |
Loss on contingent consideration | 0 | ||||
Earnings from unconsolidated affiliates, net | 0 | 0 | 0 | 0 | 0 |
EBITDA | 35.3 | (68.1) | (79.6) | (395.7) | 74 |
Goodwill | 153.1 | 153.1 | 259.8 | ||
Total assets | 906.1 | 972.2 | 1,083.7 | ||
Payments to Acquire Property, Plant, and Equipment | 19.1 | 22.8 | 50.9 | ||
Crestwood Midstream Partners LP | Corporate | |||||
Segment Reporting Information, Additional Information [Abstract] | |||||
Operating revenues | 0 | 0 | 0 | 0 | 0 |
Intersegment Revenues | 0 | 0 | 0 | 0 | 0 |
Costs of product/services sold | 0 | 0 | 0 | 0 | 0 |
Operations and maintenance | 0 | 0 | 0 | 0 | 0 |
General and administrative | 25.5 | 22.2 | 85.6 | 105.6 | 91.7 |
Loss on long-lived assets, net | 0 | 0 | 0 | ||
Goodwill impairment | 0 | 0 | 0 | 0 | |
Loss on contingent consideration | 0 | ||||
Earnings from unconsolidated affiliates, net | 0 | 0 | 0 | 0 | 0 |
EBITDA | (25.5) | $ (22.2) | (85.6) | (105.6) | (91.7) |
Goodwill | 0 | 0 | 0 | ||
Total assets | $ 14.9 | 11.9 | 121.6 | ||
Payments to Acquire Property, Plant, and Equipment | $ 1.7 | $ 0.8 | $ 6.5 |
Condensed Consolidating Finan80
Condensed Consolidating Financial Information (Balance Sheet) (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Current assets: | ||||||
Cash | $ 1 | $ 1.6 | $ 1.1 | $ 0.5 | $ 8.8 | $ 5.2 |
Accounts receivable | 267.8 | 289.8 | 236.5 | |||
Inventory | 58.8 | 66 | 44.5 | |||
Total current assets | 340 | 373.4 | 335.8 | |||
Property, plant and equipment, net | 2,080.7 | 2,097.6 | 3,310.8 | |||
Investment | 1,105.3 | 1,115.4 | 254.3 | |||
Other assets | 5.9 | 6.1 | 7.2 | |||
Total assets | 4,374.8 | 4,448.9 | 5,762.8 | |||
Current liabilities: | ||||||
Accounts payable | 193.7 | 217.2 | 144.1 | |||
Total current liabilities | 296 | 337.3 | 258.2 | |||
Long-term liabilities: | ||||||
Long-term debt, less current portion | 1,550.3 | 1,522.7 | 2,501.8 | |||
Other long-term liabilities | 46.5 | 44.6 | 47.5 | |||
Deferred income taxes | 4.7 | 5.3 | 8.4 | |||
Total partners' capital | 2,477.3 | 2,539 | 2,946.9 | 5,584.5 | 5,508.6 | |
Total liabilities and partners' capital | 4,374.8 | 4,448.9 | 5,762.8 | |||
Eliminations | ||||||
Current assets: | ||||||
Cash | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts receivable | 0 | 0 | 0 | |||
Inventory | 0 | 0 | 0 | |||
Other | 0 | 0 | ||||
Total current assets | 0 | 0 | 0 | |||
Property, plant and equipment, net | 0 | 0 | 0 | |||
Intangible Assets, Net (Including Goodwill) | 0 | 0 | 0 | |||
Investment in consolidated affiliates | (4,072.8) | (4,093.7) | (5,506.8) | |||
Investment | 0 | 0 | 0 | |||
Other assets | 0 | 0 | 0 | |||
Total assets | (4,072.8) | (4,093.7) | (5,506.8) | |||
Current liabilities: | ||||||
Accounts payable | 0 | 0 | 0 | |||
Other current liabilities | 0 | 0 | 0 | |||
Total current liabilities | 0 | 0 | 0 | |||
Long-term liabilities: | ||||||
Long-term debt, less current portion | 0 | 0 | 0 | |||
Other long-term liabilities | 0 | 0 | 0 | |||
Deferred income taxes | 0 | 0 | 0 | |||
Partners' capital | (4,072.8) | (4,093.7) | (5,506.8) | |||
Interest of non-controlling partners in subsidiary | 0 | 0 | 0 | |||
Total partners' capital | (4,072.8) | (4,093.7) | (5,506.8) | |||
Total liabilities and partners' capital | (4,072.8) | (4,093.7) | (5,506.8) | |||
Parent Company, Crestwood Midstream Partners, LP | Reportable Legal Entities | ||||||
Current assets: | ||||||
Cash | 0.6 | 1.3 | 0.8 | 0.1 | 0 | 0.1 |
Accounts receivable | 0 | 0 | 0 | |||
Inventory | 0 | 0 | 0 | |||
Other | 0 | 0 | 0 | |||
Total current assets | 0.6 | 1.3 | 0.1 | |||
Property, plant and equipment, net | 0 | 0 | 0 | |||
Intangible Assets, Net (Including Goodwill) | 0 | 0 | 0 | |||
Investment in consolidated affiliates | 4,072.8 | 4,093.7 | 5,506.8 | |||
Investment | 0 | 0 | 0 | |||
Other assets | 0 | 0 | 0 | |||
Total assets | 4,073.4 | 4,095 | 5,506.9 | |||
Current liabilities: | ||||||
Accounts payable | 0 | 0 | 0 | |||
Other current liabilities | 40.2 | 23.1 | 26.4 | |||
Total current liabilities | 40.2 | 23.1 | 26.4 | |||
Long-term liabilities: | ||||||
Long-term debt, less current portion | 1,549.2 | 1,521.2 | 2,498.9 | |||
Other long-term liabilities | 0 | 0 | 0 | |||
Deferred income taxes | 0 | 0 | 0 | |||
Partners' capital | 2,484 | 2,550.7 | 2,981.6 | |||
Interest of non-controlling partners in subsidiary | 0 | 0 | 0 | |||
Total partners' capital | 2,484 | 2,550.7 | 2,981.6 | |||
Total liabilities and partners' capital | 4,073.4 | 4,095 | 5,506.9 | |||
Guarantor Subsidiaries | Reportable Legal Entities | ||||||
Current assets: | ||||||
Cash | 0 | 0 | 0 | 0 | 7.6 | 4 |
Accounts receivable | 264.8 | 289.3 | 236 | |||
Inventory | 58.8 | 66 | 44.5 | |||
Other | 12.4 | 16 | 52.5 | |||
Total current assets | 336 | 371.3 | 333 | |||
Property, plant and equipment, net | 2,278 | 2,298.4 | 3,525.7 | |||
Intangible Assets, Net (Including Goodwill) | 839.1 | 851.9 | 1,846.9 | |||
Investment in consolidated affiliates | 0 | 0 | 0 | |||
Investment | 0 | 0 | 0 | |||
Other assets | 2.1 | 1.8 | 3.1 | |||
Total assets | 3,455.2 | 3,523.4 | 5,708.7 | |||
Current liabilities: | ||||||
Accounts payable | 191 | 214.5 | 141.3 | |||
Other current liabilities | 59.2 | 94.4 | 85.2 | |||
Total current liabilities | 250.2 | 308.9 | 226.5 | |||
Long-term liabilities: | ||||||
Long-term debt, less current portion | 1.1 | 1.5 | 2.9 | |||
Other long-term liabilities | 43.9 | 42 | 43.3 | |||
Deferred income taxes | 0.7 | 0.7 | 0.4 | |||
Partners' capital | 3,159.3 | 3,170.3 | 5,435.6 | |||
Interest of non-controlling partners in subsidiary | 0 | 0 | 0 | |||
Total partners' capital | 3,159.3 | 3,170.3 | 5,435.6 | |||
Total liabilities and partners' capital | 3,455.2 | 3,523.4 | 5,708.7 | |||
Non-Guarantor Subsidiaries | Reportable Legal Entities | ||||||
Current assets: | ||||||
Cash | 0 | 0 | 0 | 0 | 0 | 1 |
Accounts receivable | 3 | 0.5 | 0.5 | |||
Inventory | 0 | 0 | 0 | |||
Other | 0 | 0 | 0 | |||
Total current assets | 3 | 0.5 | 0.5 | |||
Property, plant and equipment, net | 0 | 0 | 0 | |||
Intangible Assets, Net (Including Goodwill) | 0 | 0 | 0 | |||
Investment in consolidated affiliates | 0 | 0 | 0 | |||
Investment | 1,105.3 | 1,115.4 | 254.3 | |||
Other assets | 0 | 0 | 0 | |||
Total assets | 1,108.3 | 1,115.9 | 254.8 | |||
Current liabilities: | ||||||
Accounts payable | 0 | 0 | 0.1 | |||
Other current liabilities | 0 | 0 | 0 | |||
Total current liabilities | 0 | 0 | 0.1 | |||
Long-term liabilities: | ||||||
Long-term debt, less current portion | 0 | 0 | 0 | |||
Other long-term liabilities | 0 | 0 | 0 | |||
Deferred income taxes | 0 | 0 | 0 | |||
Partners' capital | 913.5 | 923.4 | 71.2 | |||
Interest of non-controlling partners in subsidiary | 194.8 | 192.5 | 183.5 | |||
Total partners' capital | 1,108.3 | 1,115.9 | 254.7 | |||
Total liabilities and partners' capital | 1,108.3 | 1,115.9 | 254.8 | |||
Crestwood Midstream Partners LP | ||||||
Current assets: | ||||||
Cash | 0.6 | 1.3 | $ 0.8 | 0.1 | 7.6 | 5.1 |
Accounts receivable | 267.8 | 289.8 | 236.5 | |||
Inventory | 58.8 | 66 | 44.5 | |||
Other | 12.4 | 16 | 52.5 | |||
Total current assets | 339.6 | 373.1 | 333.6 | |||
Property, plant and equipment, net | 2,278 | 2,298.4 | 3,525.7 | |||
Intangible Assets, Net (Including Goodwill) | 839.1 | 851.9 | 1,846.9 | |||
Investment in consolidated affiliates | 0 | 0 | 0 | |||
Investment | 1,105.3 | 1,115.4 | 254.3 | |||
Other assets | 2.1 | 1.8 | 3.1 | |||
Total assets | 4,564.1 | 4,640.6 | 5,963.6 | |||
Current liabilities: | ||||||
Accounts payable | 191 | 214.5 | 141.4 | |||
Other current liabilities | 99.4 | 117.5 | 111.6 | |||
Total current liabilities | 290.4 | 332 | 253 | |||
Long-term liabilities: | ||||||
Long-term debt, less current portion | 1,550.3 | 1,522.7 | 2,501.8 | |||
Other long-term liabilities | 43.9 | 42 | 43.3 | |||
Deferred income taxes | 0.7 | 0.7 | 0.4 | |||
Partners' capital | 2,484 | 2,550.7 | 2,981.6 | |||
Interest of non-controlling partners in subsidiary | 194.8 | 192.5 | 183.5 | |||
Total partners' capital | 2,678.8 | 2,743.2 | 3,165.1 | $ 5,320.4 | $ 5,291.3 | |
Total liabilities and partners' capital | $ 4,564.1 | $ 4,640.6 | $ 5,963.6 |
Condensed Consolidating Finan81
Condensed Consolidating Financial Information (Statements of Operations) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues | $ 828.1 | $ 536 | $ 2,520.5 | $ 2,632.8 | $ 3,931.3 |
Total costs of products/services sold | 683.5 | 363.4 | 1,925.1 | 1,883.5 | 3,165.3 |
Expenses: | |||||
Operations and maintenance | 33.7 | 41.8 | 158.1 | 190.2 | 203.3 |
General and administrative | 26.4 | 23 | 88.2 | 116.3 | 100.2 |
Depreciation, amortization and accretion | 48.4 | 62.3 | 229.6 | 300.1 | 285.3 |
Loss on long-lived assets, net | (65.6) | (821.2) | (1.9) | ||
Goodwill impairment | 0 | (109.7) | (162.6) | (1,406.3) | (48.8) |
Loss on contingent consideration | 0 | 0 | (8.6) | ||
Operating income (loss) | 36.1 | (64.2) | (108.7) | (2,084.8) | 117.9 |
Earnings (loss) from unconsolidated affiliates, net | 8.1 | 6.5 | 31.5 | (60.8) | (0.7) |
Interest and debt expense, net | (26.5) | (36.1) | (125.1) | (140.1) | (127.1) |
Gain (loss) on modification/extinguishment of debt | (37.3) | 0 | 10 | (20) | 0 |
Income (loss) before income taxes | (19.5) | (93.7) | (191.8) | (2,305.1) | (9.3) |
(Provision) benefit for income taxes | 0.1 | 0 | (0.3) | 1.4 | (1.1) |
Net income (loss) | (19.4) | (93.7) | (192.1) | (2,303.7) | (10.4) |
Net income attributable to non-controlling partners | 6.1 | 5.9 | 24.2 | (636.8) | (66.8) |
Net income (loss) attributable to parent | (25.5) | (99.6) | (216.3) | (1,666.9) | 56.4 |
Net income (loss) attributable to preferred unit holders | 17.8 | 1.6 | 28.7 | 6.2 | 0 |
Net income (loss) attributable to partners | (43.3) | (101.2) | (245) | (1,673.1) | 56.4 |
Eliminations | |||||
Revenues | 0 | 0 | 0 | 0 | 0 |
Total costs of products/services sold | 0 | 0 | 0 | 0 | 0 |
Expenses: | |||||
Operations and maintenance | 0 | 0 | 0 | 0 | 0 |
General and administrative | 0 | 0 | 0 | 0 | 0 |
Depreciation, amortization and accretion | 0 | 0 | 0 | 0 | 0 |
Costs and Expenses | 0 | 0 | 0 | 0 | 0 |
Loss on long-lived assets, net | 0 | 0 | 0 | ||
Goodwill impairment | 0 | 0 | 0 | 0 | |
Loss on contingent consideration | 0 | ||||
Operating income (loss) | 0 | 0 | 0 | 0 | 0 |
Earnings (loss) from unconsolidated affiliates, net | 0 | 0 | 0 | 0 | 0 |
Interest and debt expense, net | 0 | 0 | 0 | 0 | 0 |
Gain (loss) on modification/extinguishment of debt | 0 | 0 | 0 | ||
Loss from unconsolidated affiliates | (54.6) | 47.4 | 40.2 | 1,219 | (159.6) |
Income (loss) before income taxes | (54.6) | 47.4 | (159.6) | ||
(Provision) benefit for income taxes | 0 | 0 | 0 | ||
Net income (loss) | (54.6) | 47.4 | 40.2 | 1,219 | (159.6) |
Net income attributable to non-controlling partners | 0 | 0 | 0 | 0 | 0 |
Net income (loss) attributable to parent | (54.6) | 47.4 | 40.2 | 1,219 | (159.6) |
Net income (loss) attributable to preferred unit holders | 0 | 0 | |||
Net income (loss) attributable to partners | 1,219 | (159.6) | |||
Parent Company, Crestwood Midstream Partners, LP | Reportable Legal Entities | |||||
Revenues | 0 | 0 | 0 | 0 | 0 |
Total costs of products/services sold | 0 | 0 | 0 | 0 | 0 |
Expenses: | |||||
Operations and maintenance | 0 | 0 | 0 | 0 | 0 |
General and administrative | 18.3 | 17.7 | 66.4 | 65.3 | 49.4 |
Depreciation, amortization and accretion | 0 | 0 | 0 | 0 | 0.9 |
Costs and Expenses | 18.3 | 17.7 | 66.4 | 65.3 | 50.3 |
Loss on long-lived assets, net | 0 | 0 | 0 | ||
Goodwill impairment | 0 | 0 | 0 | 0 | |
Loss on contingent consideration | 0 | ||||
Operating income (loss) | (18.3) | (17.7) | (66.4) | (65.3) | (50.3) |
Earnings (loss) from unconsolidated affiliates, net | 0 | 0 | 0 | 0 | 0 |
Interest and debt expense, net | (26.5) | (36.1) | (125.1) | (130.5) | (111.4) |
Gain (loss) on modification/extinguishment of debt | (37.3) | 10 | (18.9) | ||
Loss from unconsolidated affiliates | 54.6 | (47.4) | (40.2) | (1,219) | 159.6 |
Income (loss) before income taxes | (27.5) | (101.2) | (2.1) | ||
(Provision) benefit for income taxes | 0 | 0 | 0 | ||
Net income (loss) | (27.5) | (101.2) | (221.7) | (1,433.7) | (2.1) |
Net income attributable to non-controlling partners | 0 | 0 | 0 | 0 | 0 |
Net income (loss) attributable to parent | (27.5) | (101.2) | (221.7) | (1,433.7) | (2.1) |
Net income (loss) attributable to preferred unit holders | 23.1 | 17.2 | |||
Net income (loss) attributable to partners | (1,456.8) | (19.3) | |||
Guarantor Subsidiaries | Reportable Legal Entities | |||||
Revenues | 828.1 | 536 | 2,520.5 | 2,632.8 | 3,917.5 |
Total costs of products/services sold | 683.5 | 363.4 | 1,925.1 | 1,883.5 | 3,154.8 |
Expenses: | |||||
Operations and maintenance | 33.7 | 41.7 | 155 | 188.7 | 195.4 |
General and administrative | 7.2 | 4.5 | 19.2 | 40.3 | 42.3 |
Depreciation, amortization and accretion | 51.2 | 64.9 | 240.5 | 278.5 | 254.5 |
Costs and Expenses | 92.1 | 111.1 | 414.7 | 507.5 | 492.2 |
Loss on long-lived assets, net | (65.6) | (227.8) | (35.1) | ||
Goodwill impairment | (109.7) | (162.6) | (1,149.1) | (48.8) | |
Loss on contingent consideration | (8.6) | ||||
Operating income (loss) | 52.5 | (48.2) | (47.5) | (1,135.1) | 178 |
Earnings (loss) from unconsolidated affiliates, net | 0 | 0 | 0 | 0 | 0 |
Interest and debt expense, net | 0 | 0 | 0 | 0 | 0 |
Gain (loss) on modification/extinguishment of debt | 0 | 0 | 0 | ||
Loss from unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Income (loss) before income taxes | 52.5 | (48.2) | 178 | ||
(Provision) benefit for income taxes | 0.1 | 0.2 | (0.9) | ||
Net income (loss) | 52.6 | (48) | (47.5) | (1,135.1) | 177.1 |
Net income attributable to non-controlling partners | 0 | 0 | 0 | 0 | 0 |
Net income (loss) attributable to parent | 52.6 | (48) | (47.5) | (1,135.1) | 177.1 |
Net income (loss) attributable to preferred unit holders | 0 | 0 | |||
Net income (loss) attributable to partners | (1,135.1) | 177.1 | |||
Non-Guarantor Subsidiaries | Reportable Legal Entities | |||||
Revenues | 0 | 0 | 0 | 0 | 0 |
Total costs of products/services sold | 0 | 0 | 0 | 0 | 0 |
Expenses: | |||||
Operations and maintenance | 0 | 0 | 0 | 0 | 0 |
General and administrative | 0 | 0 | 0 | 0 | 0 |
Depreciation, amortization and accretion | 0 | 0 | 0 | 0 | 0 |
Costs and Expenses | 0 | 0 | 0 | 0 | 0 |
Loss on long-lived assets, net | 0 | 0 | 0 | ||
Goodwill impairment | 0 | 0 | 0 | 0 | |
Loss on contingent consideration | 0 | ||||
Operating income (loss) | 0 | 0 | 0 | 0 | 0 |
Earnings (loss) from unconsolidated affiliates, net | 8.1 | 6.5 | 31.5 | (60.8) | (0.7) |
Interest and debt expense, net | 0 | 0 | 0 | 0 | 0 |
Gain (loss) on modification/extinguishment of debt | 0 | 0 | 0 | ||
Loss from unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Income (loss) before income taxes | 8.1 | 6.5 | (0.7) | ||
(Provision) benefit for income taxes | 0 | 0 | 0 | ||
Net income (loss) | 8.1 | 6.5 | 31.5 | (60.8) | (0.7) |
Net income attributable to non-controlling partners | 6.1 | 5.9 | 24.2 | 23.1 | 16.8 |
Net income (loss) attributable to parent | 2 | 0.6 | 7.3 | (83.9) | (17.5) |
Net income (loss) attributable to preferred unit holders | 0 | ||||
Net income (loss) attributable to partners | (83.9) | (17.5) | |||
Crestwood Midstream Partners LP | |||||
Revenues | 828.1 | 536 | 2,520.5 | 2,632.8 | 3,917.5 |
Total costs of products/services sold | 683.5 | 363.4 | 1,925.1 | 1,883.5 | 3,154.8 |
Expenses: | |||||
Operations and maintenance | 33.7 | 41.7 | 155 | 188.7 | 195.4 |
General and administrative | 25.5 | 22.2 | 85.6 | 105.6 | 91.7 |
Depreciation, amortization and accretion | 51.2 | 64.9 | 240.5 | 278.5 | 255.4 |
Costs and Expenses | 110.4 | 128.8 | 481.1 | 572.8 | 542.5 |
Loss on long-lived assets, net | (65.6) | (227.8) | (35.1) | ||
Goodwill impairment | 0 | (109.7) | (162.6) | (1,149.1) | (48.8) |
Loss on contingent consideration | 0 | 0 | (8.6) | ||
Operating income (loss) | 34.2 | (65.9) | (113.9) | (1,200.4) | 127.7 |
Earnings (loss) from unconsolidated affiliates, net | 8.1 | 6.5 | 31.5 | (60.8) | (0.7) |
Interest and debt expense, net | (26.5) | (36.1) | (125.1) | (130.5) | (111.4) |
Gain (loss) on modification/extinguishment of debt | (37.3) | 0 | 10 | (18.9) | 0 |
Loss from unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Income (loss) before income taxes | (21.5) | (95.5) | (197.5) | (1,410.6) | 15.6 |
(Provision) benefit for income taxes | 0.1 | 0.2 | 0 | 0 | (0.9) |
Net income (loss) | (21.4) | (95.3) | (197.5) | (1,410.6) | 14.7 |
Net income attributable to non-controlling partners | 6.1 | 5.9 | 24.2 | 23.1 | 16.8 |
Net income (loss) attributable to parent | $ (27.5) | $ (101.2) | (221.7) | (1,433.7) | (2.1) |
Net income (loss) attributable to preferred unit holders | 0 | 23.1 | 17.2 | ||
Net income (loss) attributable to partners | $ (221.7) | $ (1,456.8) | $ (19.3) |
Condensed Consolidating Finan82
Condensed Consolidating Financial Information (Statements Of Cash Flows) (Details) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | $ 58.9 | $ 134.3 | $ 346.1 | $ 440.7 | $ 283 |
Cash flows from investing activities: | |||||
Acquisitions, net of cash acquired | (7.2) | 0 | (19.5) | ||
Purchases of property, plant and equipment | (22.7) | (55.6) | (100.7) | (182.7) | (424) |
Investment in unconsolidated affiliates | (0.1) | (5.5) | (12.4) | (42) | (108.6) |
Proceeds from the sale of assets | 0 | 0.8 | 972.7 | 2.7 | 69.1 |
Capital distributions from unconsolidated affiliates | 10.5 | 0 | 14.8 | 9.3 | 0 |
Net cash provided by (used in) investing activities | (12.3) | (60.3) | 867.2 | (212.7) | (483) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 4,261.8 | 2,823.9 |
Principal payments on long-term debt | (1,143.7) | (286.2) | (2,536.3) | (4,113) | (2,696) |
Payments on capital leases | (0.4) | (0.5) | (1.9) | (2.2) | (3.2) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (1.9) |
Financing fees paid for early debt redemption | 0 | (13.6) | 0 | ||
Distributions to partners | (41.8) | (95.6) | (219.8) | (171.5) | (102.5) |
Net proceeds from issuance of preferred equity of subsidiary | 0 | 0 | 53.9 | ||
Net proceeds from issuance of Class A preferred units | 0 | 58.8 | 430.5 | ||
Taxes paid for unit-based compensation vesting | (3.4) | (0.6) | (0.8) | (3.8) | (3.9) |
Other | (0.1) | (0.1) | 0 | (1.3) | (0.7) |
Net cash provided by (used in) financing activities | (47.2) | (73.4) | (1,212.2) | (236.3) | 203.6 |
Net change in cash | (0.6) | 0.6 | 1.1 | (8.3) | 3.6 |
Cash at beginning of period | 1.6 | 0.5 | 0.5 | 8.8 | 5.2 |
Cash at end of period | 1 | 1.1 | 1.6 | 0.5 | 8.8 |
Crestwood Midstream Partners LP | |||||
Cash flows from operating activities: | 60 | 135.7 | 353.8 | 471.8 | 437.3 |
Cash flows from investing activities: | |||||
Acquisitions, net of cash acquired | (7.2) | 0 | (19.5) | ||
Purchases of property, plant and equipment | (22.7) | (55.6) | (100.7) | (182.7) | (421.7) |
Investment in unconsolidated affiliates | (0.1) | (5.5) | (12.4) | (41.8) | (144.4) |
Proceeds from the sale of assets | 0 | 0.8 | 972.7 | 2.7 | 2.7 |
Capital distributions from unconsolidated affiliates | 10.5 | 0 | 14.8 | 9.3 | 0 |
Capital contributions to consolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | (12.3) | (60.3) | 867.2 | (212.5) | (582.9) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 3,490.1 | 2,089.9 |
Principal payments on long-term debt | (1,143.7) | (286) | (2,536.1) | (2,960.9) | (1,950) |
Payments on capital leases | (0.4) | (0.5) | (1.9) | (2.2) | (3.2) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (0.1) |
Financing fees paid for early debt redemption | 0 | (13.6) | 0 | ||
Distributions to partners | (46.9) | (101) | (242.8) | (819.5) | (470.5) |
Contributions from parents | 0 | 0 | 0 | 0 | |
Net proceeds from issuance of preferred equity of subsidiary | 0 | 0 | 53.9 | ||
Net proceeds from issuance of Class A preferred units | 0 | 58.8 | 430.5 | ||
Taxes paid for unit-based compensation vesting | (3.4) | (0.6) | (0.8) | (2.1) | (1.6) |
Change in intercompany balances | 0 | 0 | 0 | 0 | 0 |
Other | 0 | (0.1) | (0.8) | ||
Net cash provided by (used in) financing activities | (48.4) | (74.7) | (1,219.8) | (266.8) | 148.1 |
Net change in cash | (0.7) | 0.7 | 1.2 | (7.5) | 2.5 |
Cash at beginning of period | 1.3 | 0.1 | 0.1 | 7.6 | 5.1 |
Cash at end of period | 0.6 | 0.8 | 1.3 | 0.1 | 7.6 |
Reportable Legal Entities | Parent Company, Crestwood Midstream Partners, LP | |||||
Cash flows from operating activities: | (39.7) | (42.7) | (188) | (190.8) | (165.6) |
Cash flows from investing activities: | |||||
Acquisitions, net of cash acquired | 0 | 0 | |||
Purchases of property, plant and equipment | (0.1) | (0.9) | (1.7) | (0.8) | (4.3) |
Investment in unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Proceeds from the sale of assets | 0 | 0 | 0 | ||
Capital distributions from unconsolidated affiliates | 0 | 0 | 0 | 0 | |
Capital contributions to consolidated affiliates | 11.9 | (3.7) | 26.2 | (31.2) | (89.5) |
Net cash provided by (used in) investing activities | 11.8 | (4.6) | 24.5 | (32) | (93.8) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 3,490.1 | 2,089.9 |
Principal payments on long-term debt | (1,143.3) | (286) | (2,535.3) | (2,960.9) | (1,949.8) |
Payments on capital leases | 0 | 0 | 0 | 0 | (1.3) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (0.1) |
Financing fees paid for early debt redemption | (13.6) | ||||
Distributions to partners | (43.1) | (97.2) | (227.6) | (808.2) | (470.5) |
Contributions from parents | 0 | 0 | 0 | 0 | 0 |
Net proceeds from issuance of preferred equity of subsidiary | 0 | ||||
Net proceeds from issuance of Class A preferred units | 58.8 | 430.5 | |||
Taxes paid for unit-based compensation vesting | 0 | 0 | 0 | 0 | 0 |
Change in intercompany balances | 67.6 | 117.8 | 1,365.8 | 474.1 | 161.4 |
Other | (0.1) | (0.8) | |||
Net cash provided by (used in) financing activities | 27.2 | 48 | 164.7 | 222.9 | 259.3 |
Net change in cash | (0.7) | 0.7 | 1.2 | 0.1 | (0.1) |
Cash at beginning of period | 1.3 | 0.1 | 0.1 | 0 | 0.1 |
Cash at end of period | 0.6 | 0.8 | 1.3 | 0.1 | 0 |
Reportable Legal Entities | Guarantor Subsidiaries | |||||
Cash flows from operating activities: | 94.4 | 172.8 | 502.8 | 650 | 602.9 |
Cash flows from investing activities: | |||||
Acquisitions, net of cash acquired | (7.2) | (19.5) | |||
Purchases of property, plant and equipment | (22.6) | (54.7) | (99) | (181.9) | (417.4) |
Investment in unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Proceeds from the sale of assets | 972.7 | 2.7 | 2.7 | ||
Capital distributions from unconsolidated affiliates | 0 | 0 | 0 | ||
Capital contributions to consolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | (22.6) | (53.9) | 866.5 | (179.2) | (434.2) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 0 | 0 | 0 | 0 | 0 |
Principal payments on long-term debt | (0.4) | 0 | (0.8) | 0 | (0.2) |
Payments on capital leases | (0.4) | (0.5) | (1.9) | (2.2) | (1.9) |
Payments for debt-related deferred costs | 0 | 0 | 0 | 0 | 0 |
Financing fees paid for early debt redemption | 0 | ||||
Distributions to partners | 0 | 0 | 0 | 0 | 0 |
Contributions from parents | 0 | 0 | 0 | 0 | 0 |
Net proceeds from issuance of preferred equity of subsidiary | 0 | ||||
Net proceeds from issuance of Class A preferred units | 0 | 0 | |||
Taxes paid for unit-based compensation vesting | (3.4) | (0.6) | (0.8) | (2.1) | (1.6) |
Change in intercompany balances | (67.6) | (117.8) | (1,365.8) | (474.1) | (161.4) |
Other | 0 | 0 | |||
Net cash provided by (used in) financing activities | (71.8) | (118.9) | (1,369.3) | (478.4) | (165.1) |
Net change in cash | 0 | 0 | 0 | (7.6) | 3.6 |
Cash at beginning of period | 0 | 0 | 0 | 7.6 | 4 |
Cash at end of period | 0 | 0 | 0 | 0 | 7.6 |
Reportable Legal Entities | Non-Guarantor Subsidiaries | |||||
Cash flows from operating activities: | 5.3 | 5.6 | 39 | 12.6 | 0 |
Cash flows from investing activities: | |||||
Acquisitions, net of cash acquired | 0 | 0 | |||
Purchases of property, plant and equipment | 0 | 0 | 0 | 0 | 0 |
Investment in unconsolidated affiliates | (0.1) | (5.5) | (12.4) | (41.8) | (144.4) |
Proceeds from the sale of assets | 0 | 0 | 0 | ||
Capital distributions from unconsolidated affiliates | 10.5 | 0 | 14.8 | 9.3 | |
Capital contributions to consolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 10.4 | (5.5) | 2.4 | (32.5) | (144.4) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 0 | 0 | 0 | 0 | 0 |
Principal payments on long-term debt | 0 | 0 | 0 | 0 | 0 |
Payments on capital leases | 0 | 0 | 0 | 0 | 0 |
Payments for debt-related deferred costs | 0 | 0 | 0 | 0 | |
Financing fees paid for early debt redemption | 0 | ||||
Distributions to partners | (3.8) | (3.8) | (15.2) | (11.3) | |
Contributions from parents | (11.9) | 3.7 | (26.2) | 31.2 | 89.5 |
Net proceeds from issuance of preferred equity of subsidiary | 53.9 | ||||
Net proceeds from issuance of Class A preferred units | 0 | 0 | |||
Taxes paid for unit-based compensation vesting | 0 | 0 | 0 | 0 | 0 |
Change in intercompany balances | 0 | 0 | 0 | 0 | 0 |
Other | 0 | 0 | |||
Net cash provided by (used in) financing activities | (15.7) | (0.1) | (41.4) | 19.9 | 143.4 |
Net change in cash | 0 | 0 | 0 | 0 | (1) |
Cash at beginning of period | 0 | 0 | 0 | 0 | 1 |
Cash at end of period | 0 | 0 | 0 | 0 | 0 |
Eliminations | |||||
Cash flows from operating activities: | 0 | 0 | 0 | 0 | 0 |
Cash flows from investing activities: | |||||
Acquisitions, net of cash acquired | 0 | 0 | |||
Purchases of property, plant and equipment | 0 | 0 | 0 | 0 | 0 |
Investment in unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Proceeds from the sale of assets | 0 | 0 | 0 | ||
Capital distributions from unconsolidated affiliates | 0 | 0 | 0 | 0 | |
Capital contributions to consolidated affiliates | (11.9) | 3.7 | (26.2) | 31.2 | 89.5 |
Net cash provided by (used in) investing activities | (11.9) | 3.7 | (26.2) | 31.2 | 89.5 |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 0 | 0 | 0 | 0 | 0 |
Principal payments on long-term debt | 0 | 0 | 0 | 0 | 0 |
Payments on capital leases | 0 | 0 | 0 | 0 | 0 |
Payments for debt-related deferred costs | 0 | 0 | 0 | 0 | 0 |
Financing fees paid for early debt redemption | 0 | ||||
Distributions to partners | 0 | 0 | 0 | 0 | |
Contributions from parents | 11.9 | (3.7) | 26.2 | (31.2) | (89.5) |
Net proceeds from issuance of preferred equity of subsidiary | 0 | ||||
Net proceeds from issuance of Class A preferred units | 0 | 0 | |||
Taxes paid for unit-based compensation vesting | 0 | 0 | 0 | 0 | 0 |
Change in intercompany balances | 0 | 0 | 0 | 0 | 0 |
Other | 0 | 0 | |||
Net cash provided by (used in) financing activities | 11.9 | (3.7) | 26.2 | (31.2) | (89.5) |
Net change in cash | 0 | 0 | 0 | 0 | 0 |
Cash at beginning of period | 0 | 0 | 0 | 0 | 0 |
Cash at end of period | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Schedule I - Crestwood Equity P
Schedule I - Crestwood Equity Partners LP - Parent Only - Balance Sheet (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Condensed Financial Statements, Captions [Line Items] | ||||||
Cash | $ 1 | $ 1.6 | $ 1.1 | $ 0.5 | $ 8.8 | $ 5.2 |
Accounts receivable | 267.8 | 289.8 | 236.5 | |||
Total current assets | 340 | 373.4 | 335.8 | |||
Property, plant and equipment, net | 2,080.7 | 2,097.6 | 3,310.8 | |||
Total assets | 4,374.8 | 4,448.9 | 5,762.8 | |||
Accrued expenses | 78.1 | 90.5 | 105.6 | |||
Current portion of long-term debt | 14.8 | 1 | 1.1 | |||
Total current liabilities | 296 | 337.3 | 258.2 | |||
Other long-term liabilities | 46.5 | 44.6 | 47.5 | |||
Total partners' capital | 2,477.3 | 2,539 | 2,946.9 | 5,584.5 | 5,508.6 | |
Total liabilities and partners' capital | $ 4,374.8 | 4,448.9 | 5,762.8 | |||
Parent Company | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Cash | 0.3 | 0.4 | $ 3.7 | $ 0.1 | ||
Accounts receivable | 0 | 1.8 | ||||
Total current assets | 0.3 | 2.2 | ||||
Property, plant and equipment, net | 1.4 | 1.5 | ||||
Intangible assets, net | 4.5 | 7.8 | ||||
Investment in subsidiaries | 2,342.7 | 2,757.7 | ||||
Other assets | 4.3 | 3.5 | ||||
Total assets | 2,353.2 | 2,772.7 | ||||
Accounts payable | 2.7 | 2.6 | ||||
Accrued expenses | 1.4 | 2.3 | ||||
Current portion of long-term debt | 0 | 0.2 | ||||
Total current liabilities | 4.1 | 5.1 | ||||
Other long-term liabilities | 2.6 | 4.2 | ||||
Total partners' capital | 2,346.5 | 2,763.4 | ||||
Total liabilities and partners' capital | $ 2,353.2 | $ 2,772.7 |
Schedule I - Crestwood Equity84
Schedule I - Crestwood Equity Partners LP - Parent Only - Statement of Operations (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Statements, Captions [Line Items] | |||||
Revenues | $ 828.1 | $ 536 | $ 2,520.5 | $ 2,632.8 | $ 3,931.3 |
Operating income (loss) | 36.1 | (64.2) | (108.7) | (2,084.8) | 117.9 |
Interest and debt expense, net | (26.5) | (36.1) | (125.1) | (140.1) | (127.1) |
Gain (loss) on modification/extinguishment of debt | (37.3) | 0 | 10 | (20) | 0 |
Other income, net | 0.1 | 0.1 | 0.5 | 0.6 | 0.6 |
Income (loss) before income taxes | (19.5) | (93.7) | (191.8) | (2,305.1) | (9.3) |
(Provision) benefit for income taxes | 0.1 | 0 | (0.3) | 1.4 | (1.1) |
Net loss | (19.4) | (93.7) | (192.1) | (2,303.7) | (10.4) |
Net income (loss) attributable to non-controlling partners | 6.1 | 5.9 | 24.2 | (636.8) | (66.8) |
Net income (loss) attributable to parent | $ (25.5) | $ (99.6) | (216.3) | (1,666.9) | 56.4 |
Parent Company | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Revenues | 0 | 0 | 0 | ||
Costs and Expenses | 6 | 14.5 | 8.5 | ||
Operating income (loss) | (6) | (14.5) | (8.5) | ||
Interest and debt expense, net | 0 | (9.6) | (15.7) | ||
Equity in net income (loss) of subsidiaries | (186.6) | (2,279.1) | 14.2 | ||
Gain (loss) on modification/extinguishment of debt | 0 | (1.1) | 0 | ||
Other income, net | 0.5 | 0.6 | 0 | ||
Income (loss) before income taxes | (192.1) | (2,303.7) | (10) | ||
(Provision) benefit for income taxes | 0 | 0 | (0.4) | ||
Net loss | (192.1) | (2,303.7) | (10.4) | ||
Net income (loss) attributable to non-controlling partners | 24.2 | (636.8) | (66.8) | ||
Net income (loss) attributable to parent | $ (216.3) | $ (1,666.9) | $ 56.4 |
Schedule I - Crestwood Equity85
Schedule I - Crestwood Equity Partners LP - Parent Only - Statement of Comprehensive Income (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Statements, Captions [Line Items] | |||||
Net loss | $ (19.4) | $ (93.7) | $ (192.1) | $ (2,303.7) | $ (10.4) |
Change in fair value of Suburban Propane Partners, LP units | (0.4) | 0.8 | 0.8 | (2.7) | (0.5) |
Comprehensive loss | (19.8) | (92.9) | (191.3) | (2,306.4) | (10.9) |
Comprehensive income (loss) attributable to non-controlling interest | 6.1 | 5.9 | 24.2 | (636.8) | (66.8) |
Comprehensive income (loss) attributable to Crestwood Equity Partners LP | $ (25.9) | $ (98.8) | (215.5) | (1,669.6) | 55.9 |
Parent Company | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Net loss | (192.1) | (2,303.7) | (10.4) | ||
Change in fair value of Suburban Propane Partners, LP units | 0.8 | (2.7) | (0.5) | ||
Comprehensive loss | (191.3) | (2,306.4) | (10.9) | ||
Comprehensive income (loss) attributable to non-controlling interest | 24.2 | (636.8) | (66.8) | ||
Comprehensive income (loss) attributable to Crestwood Equity Partners LP | $ (215.5) | $ (1,669.6) | $ 55.9 |
Schedule I - Crestwood Equity86
Schedule I - Crestwood Equity Partners LP - Parent Only - Condensed Statement of Cash Flows (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Statements, Captions [Line Items] | |||||
Cash flows from operating activities | $ 58.9 | $ 134.3 | $ 346.1 | $ 440.7 | $ 283 |
Cash flows from investing activities | (12.3) | (60.3) | 867.2 | (212.7) | (483) |
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 4,261.8 | 2,823.9 |
Principal payments on long-term debt | (1,143.7) | (286.2) | (2,536.3) | (4,113) | (2,696) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (1.9) |
Distributions paid to partners | (41.8) | (95.6) | (219.8) | (171.5) | (102.5) |
Change in intercompany balances | (0.1) | (0.1) | 0 | (1.3) | (0.7) |
Net cash provided by (used in) financing activities | (47.2) | (73.4) | (1,212.2) | (236.3) | 203.6 |
Net change in cash | (0.6) | 0.6 | 1.1 | (8.3) | 3.6 |
Cash at beginning of period | 1.6 | 0.5 | 0.5 | 8.8 | 5.2 |
Cash at end of period | 1 | 1.1 | 1.6 | 0.5 | 8.8 |
Parent Company | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Cash flows from operating activities | (3.5) | (14.7) | (25.3) | ||
Cash flows from investing activities | 227.6 | 593.8 | 170.8 | ||
Proceeds from the issuance of long-term debt | 0 | 771.7 | 734 | ||
Principal payments on long-term debt | (0.2) | (1,152.1) | (746.2) | ||
Payments for debt-related deferred costs | 0 | 0 | (1.8) | ||
Distributions paid to partners | (219.8) | (171.5) | (102.5) | ||
Change in intercompany balances | (4.2) | (30.5) | (25.4) | ||
Net cash provided by (used in) financing activities | (224.2) | (582.4) | (141.9) | ||
Net change in cash | (0.1) | (3.3) | 3.6 | ||
Cash at beginning of period | $ 0.3 | $ 0.4 | 0.4 | 3.7 | 0.1 |
Cash at end of period | $ 0.3 | $ 0.4 | $ 3.7 |
Schedule I - Crestwood Equity87
Schedule I - Crestwood Equity Partners LP - Parent Only - Distributions (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||
Dividends received from CMLP | $ 227.6 | $ 31.4 | $ 72.4 |
Schedule II - Crestwood Equity
Schedule II - Crestwood Equity Partners LP - Valuation and Qualifying Accounts (Detail) - Allowance for Doubtful Accounts - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Valuation Allowances and Reserves, Balance | $ 0.4 | $ 0.1 | $ 0.1 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 1.9 | 0 | 0 |
Valuation Allowances and Reserves, Charged to Other Accounts | 0 | 0.4 | 0 |
Valuation Allowances and Reserves, Deductions | (0.4) | (0.1) | 0 |
Valuation Allowances and Reserves, Balance | $ 1.9 | $ 0.4 | $ 0.1 |
Investments in Unconsolidated89
Investments in Unconsolidated Affiliates Distributions and Contributions (Detail) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
May 31, 2017 | Feb. 28, 2017 | Jan. 31, 2017 | Dec. 31, 2014 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Proceeds from equity method investments | $ 18.3 | $ 5.7 | |||||||
Payments to acquire equity method investments | 0.1 | 5.5 | $ 12.4 | $ 42 | $ 108.6 | ||||
Stagecoach Gas Services LLC | |||||||||
Proceeds from equity method investments | $ 12.1 | 12.1 | 0 | 16 | |||||
Payments to acquire equity method investments | 0 | 0 | |||||||
Stagecoach Gas Services LLC | Subsequent Event | |||||||||
Proceeds from equity method investments | $ 11.7 | ||||||||
Jackalope Gas Gathering Services, LLC | |||||||||
Proceeds from equity method investments | $ 5.9 | 5.9 | 5.1 | 27.4 | 12.5 | ||||
Payments to acquire equity method investments | 0.1 | 0 | |||||||
Tres Palacios Holdings LLC | |||||||||
Proceeds from equity method investments | 0 | 0 | 8.5 | 7.4 | |||||
Payments to acquire equity method investments | $ 132.8 | 0 | 5.5 | ||||||
Tres Palacios Holdings LLC | Subsequent Event | |||||||||
Proceeds from equity method investments | $ 2.7 | ||||||||
Powder River Basin Industrial Complex, LLC | |||||||||
Proceeds from equity method investments | $ 0.4 | 0.3 | 0.6 | $ 2 | 1.9 | ||||
Payments to acquire equity method investments | 0 | 0 | $ 10.7 | $ 3.4 | |||||
Crestwood Permian Basin Holdings LLC | |||||||||
Proceeds from equity method investments | 0 | 0 | |||||||
Payments to acquire equity method investments | $ 0 | $ 0 |
Condensed Consolidating Finan90
Condensed Consolidating Financial Information (Statements Of Cash Flows) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities | $ 58.9 | $ 134.3 | $ 346.1 | $ 440.7 | $ 283 |
Cash flows from investing activities: | |||||
Purchases of property, plant and equipment | (22.7) | (55.6) | (100.7) | (182.7) | (424) |
Investment in unconsolidated affiliates | (0.1) | (5.5) | (12.4) | (42) | (108.6) |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 10.5 | 0 | 14.8 | 9.3 | 0 |
Net cash provided by (used in) investing activities | (12.3) | (60.3) | 867.2 | (212.7) | (483) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 4,261.8 | 2,823.9 |
Payments on long-term debt | (1,143.7) | (286.2) | (2,536.3) | (4,113) | (2,696) |
Payments on capital leases | (0.4) | (0.5) | (1.9) | (2.2) | (3.2) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (1.9) |
Distributions to partners | (41.8) | (95.6) | (219.8) | (171.5) | (102.5) |
Taxes paid for unit-based compensation vesting | (3.4) | (0.6) | (0.8) | (3.8) | (3.9) |
Net cash provided by (used in) financing activities | (47.2) | (73.4) | (1,212.2) | (236.3) | 203.6 |
Net change in cash | (0.6) | 0.6 | 1.1 | (8.3) | 3.6 |
Cash at beginning of period | 1.6 | 0.5 | 0.5 | 8.8 | 5.2 |
Cash at end of period | 1 | 1.1 | 1.6 | 0.5 | 8.8 |
Eliminations | |||||
Cash flows from operating activities | 0 | 0 | 0 | 0 | 0 |
Cash flows from investing activities: | |||||
Purchases of property, plant and equipment | 0 | 0 | 0 | 0 | 0 |
Investment in unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 0 | 0 | 0 | 0 | |
Capital distributions from consolidated affiliates | (11.9) | 3.7 | (26.2) | 31.2 | 89.5 |
Net cash provided by (used in) investing activities | (11.9) | 3.7 | (26.2) | 31.2 | 89.5 |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 0 | 0 | 0 | 0 | 0 |
Payments on long-term debt | 0 | 0 | 0 | 0 | 0 |
Payments on capital leases | 0 | 0 | 0 | 0 | 0 |
Payments for debt-related deferred costs | 0 | 0 | 0 | 0 | 0 |
Distributions to partners | 0 | 0 | 0 | 0 | |
Contributions from (distributions to) parent | 11.9 | (3.7) | 26.2 | (31.2) | (89.5) |
Taxes paid for unit-based compensation vesting | 0 | 0 | 0 | 0 | 0 |
Change in intercompany balances | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | 11.9 | (3.7) | 26.2 | (31.2) | (89.5) |
Net change in cash | 0 | 0 | 0 | 0 | 0 |
Cash at beginning of period | 0 | 0 | 0 | 0 | 0 |
Cash at end of period | 0 | 0 | 0 | 0 | 0 |
Parent Company, Crestwood Midstream Partners, LP | Reportable Legal Entities | |||||
Cash flows from operating activities | (39.7) | (42.7) | (188) | (190.8) | (165.6) |
Cash flows from investing activities: | |||||
Purchases of property, plant and equipment | (0.1) | (0.9) | (1.7) | (0.8) | (4.3) |
Investment in unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 0 | 0 | 0 | 0 | |
Capital distributions from consolidated affiliates | 11.9 | (3.7) | 26.2 | (31.2) | (89.5) |
Net cash provided by (used in) investing activities | 11.8 | (4.6) | 24.5 | (32) | (93.8) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 3,490.1 | 2,089.9 |
Payments on long-term debt | (1,143.3) | (286) | (2,535.3) | (2,960.9) | (1,949.8) |
Payments on capital leases | 0 | 0 | 0 | 0 | (1.3) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (0.1) |
Distributions to partners | (43.1) | (97.2) | (227.6) | (808.2) | (470.5) |
Contributions from (distributions to) parent | 0 | 0 | 0 | 0 | 0 |
Taxes paid for unit-based compensation vesting | 0 | 0 | 0 | 0 | 0 |
Change in intercompany balances | 67.6 | 117.8 | 1,365.8 | 474.1 | 161.4 |
Net cash provided by (used in) financing activities | 27.2 | 48 | 164.7 | 222.9 | 259.3 |
Net change in cash | (0.7) | 0.7 | 1.2 | 0.1 | (0.1) |
Cash at beginning of period | 1.3 | 0.1 | 0.1 | 0 | 0.1 |
Cash at end of period | 0.6 | 0.8 | 1.3 | 0.1 | 0 |
Guarantor Subsidiaries | Reportable Legal Entities | |||||
Cash flows from operating activities | 94.4 | 172.8 | 502.8 | 650 | 602.9 |
Cash flows from investing activities: | |||||
Purchases of property, plant and equipment | (22.6) | (54.7) | (99) | (181.9) | (417.4) |
Investment in unconsolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 0 | 0 | 0 | ||
Capital distributions from consolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | (22.6) | (53.9) | 866.5 | (179.2) | (434.2) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 0 | 0 | 0 | 0 | 0 |
Payments on long-term debt | (0.4) | 0 | (0.8) | 0 | (0.2) |
Payments on capital leases | (0.4) | (0.5) | (1.9) | (2.2) | (1.9) |
Payments for debt-related deferred costs | 0 | 0 | 0 | 0 | 0 |
Distributions to partners | 0 | 0 | 0 | 0 | 0 |
Contributions from (distributions to) parent | 0 | 0 | 0 | 0 | 0 |
Taxes paid for unit-based compensation vesting | (3.4) | (0.6) | (0.8) | (2.1) | (1.6) |
Change in intercompany balances | (67.6) | (117.8) | (1,365.8) | (474.1) | (161.4) |
Net cash provided by (used in) financing activities | (71.8) | (118.9) | (1,369.3) | (478.4) | (165.1) |
Net change in cash | 0 | 0 | 0 | (7.6) | 3.6 |
Cash at beginning of period | 0 | 0 | 0 | 7.6 | 4 |
Cash at end of period | 0 | 0 | 0 | 0 | 7.6 |
Guarantor Subsidiaries | Scenario, Previously Reported | Reportable Legal Entities | |||||
Cash flows from investing activities: | |||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 0.8 | ||||
Non-Guarantor Subsidiaries | Reportable Legal Entities | |||||
Cash flows from operating activities | 5.3 | 5.6 | 39 | 12.6 | 0 |
Cash flows from investing activities: | |||||
Purchases of property, plant and equipment | 0 | 0 | 0 | 0 | 0 |
Investment in unconsolidated affiliates | (0.1) | (5.5) | (12.4) | (41.8) | (144.4) |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 10.5 | 0 | 14.8 | 9.3 | |
Capital distributions from consolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 10.4 | (5.5) | 2.4 | (32.5) | (144.4) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 0 | 0 | 0 | 0 | 0 |
Payments on long-term debt | 0 | 0 | 0 | 0 | 0 |
Payments on capital leases | 0 | 0 | 0 | 0 | 0 |
Payments for debt-related deferred costs | 0 | 0 | 0 | 0 | |
Distributions to partners | (3.8) | (3.8) | (15.2) | (11.3) | |
Contributions from (distributions to) parent | (11.9) | 3.7 | (26.2) | 31.2 | 89.5 |
Taxes paid for unit-based compensation vesting | 0 | 0 | 0 | 0 | 0 |
Change in intercompany balances | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | (15.7) | (0.1) | (41.4) | 19.9 | 143.4 |
Net change in cash | 0 | 0 | 0 | 0 | (1) |
Cash at beginning of period | 0 | 0 | 0 | 0 | 1 |
Cash at end of period | 0 | 0 | 0 | 0 | 0 |
Crestwood Midstream Partners LP | |||||
Cash flows from operating activities | 60 | 135.7 | 353.8 | 471.8 | 437.3 |
Cash flows from investing activities: | |||||
Purchases of property, plant and equipment | (22.7) | (55.6) | (100.7) | (182.7) | (421.7) |
Investment in unconsolidated affiliates | (0.1) | (5.5) | (12.4) | (41.8) | (144.4) |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 10.5 | 0 | 14.8 | 9.3 | 0 |
Capital distributions from consolidated affiliates | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | (12.3) | (60.3) | 867.2 | (212.5) | (582.9) |
Cash flows from financing activities: | |||||
Proceeds from the issuance of long-term debt | 1,154.5 | 313.5 | 1,565.3 | 3,490.1 | 2,089.9 |
Payments on long-term debt | (1,143.7) | (286) | (2,536.1) | (2,960.9) | (1,950) |
Payments on capital leases | (0.4) | (0.5) | (1.9) | (2.2) | (3.2) |
Payments for debt-related deferred costs | (8.5) | (0.1) | (3.5) | (17.3) | (0.1) |
Distributions to partners | (46.9) | (101) | (242.8) | (819.5) | (470.5) |
Contributions from (distributions to) parent | 0 | 0 | 0 | 0 | |
Taxes paid for unit-based compensation vesting | (3.4) | (0.6) | (0.8) | (2.1) | (1.6) |
Change in intercompany balances | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | (48.4) | (74.7) | (1,219.8) | (266.8) | 148.1 |
Net change in cash | (0.7) | 0.7 | 1.2 | (7.5) | 2.5 |
Cash at beginning of period | 1.3 | 0.1 | 0.1 | 7.6 | 5.1 |
Cash at end of period | $ 0.6 | 0.8 | $ 1.3 | $ 0.1 | $ 7.6 |
Crestwood Midstream Partners LP | Scenario, Previously Reported | |||||
Cash flows from investing activities: | |||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | $ 0.8 |