SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION | 9 Months Ended |
Sep. 30, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Supplemental Condensed Consolidating Financial Information | ' |
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N. | SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION | | | | | | | | | | | | | | | | | | |
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We have no significant assets or operations other than our investment in our 100 percent owned subsidiary, the Intermediate Partnership. The Intermediate Partnership holds all our partnership interests and equity in our subsidiaries, as well as a 50 percent interest in Northern Border Pipeline. Our Intermediate Partnership guarantees our senior notes and borrowings, if any, under the Partnership Credit Agreement. The Intermediate Partnership’s guarantees of our senior notes and of any borrowings under the Partnership Credit Agreement are full and unconditional, subject to certain customary automatic release provisions. |
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For purposes of the following footnote: |
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• | we are referred to as “Parent”; | | | | | | | | | | | | | | | | | | |
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• | the Intermediate Partnership is referred to as “Guarantor Subsidiary”; and | | | | | | | | | | | | | | | | | | |
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• | the “Non-Guarantor Subsidiaries” are all subsidiaries other than the Guarantor Subsidiary. | | | | | | | | | | | | | | | | | | |
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The following unaudited supplemental condensed consolidating financial information is presented on an equity-method basis reflecting the Parent’s separate accounts, the Guarantor Subsidiary’s separate accounts, the combined accounts of the Non-Guarantor Subsidiaries, the combined consolidating adjustments and eliminations and the Parent’s consolidated amounts for the periods indicated. |
Condensed Consolidating Statements of Income |
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| Three Months Ended September 30, 2014 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Revenues | | | | | | | | | |
Commodity sales | $ | — | | | $ | — | | | $ | 2,754.50 | | | $ | — | | | $ | 2,754.50 | |
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Services | — | | | — | | | 364.9 | | | — | | | 364.9 | |
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Total revenues | — | | | — | | | 3,119.40 | | | — | | | 3,119.40 | |
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Cost of sales and fuel | — | | | — | | | 2,583.20 | | | — | | | 2,583.20 | |
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Net margin | — | | | — | | | 536.2 | | | — | | | 536.2 | |
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Operating expenses | | | | | | | | | | | | | | |
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Operations and maintenance | — | | | — | | | 152.5 | | | — | | | 152.5 | |
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Depreciation and amortization | — | | | — | | | 73.9 | | | — | | | 73.9 | |
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General taxes | — | | | — | | | 18.3 | | | — | | | 18.3 | |
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Total operating expenses | — | | | — | | | 244.7 | | | — | | | 244.7 | |
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Gain (loss) on sale of assets | — | | | — | | | 1.5 | | | — | | | 1.5 | |
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Operating income | — | | | — | | | 293 | | | — | | | 293 | |
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Equity earnings (loss) from investments | 167.2 | | | 167.2 | | | (66.7 | ) | | (320.0 | ) | | (52.3 | ) |
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Allowance for equity funds used during | — | | | — | | | 1.7 | | | — | | | 1.7 | |
construction |
Other income (expense), net | 83.1 | | | 83.1 | | | (2.4 | ) | | (166.2 | ) | | (2.4 | ) |
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Interest expense, net | (83.1 | ) | | (83.1 | ) | | (70.1 | ) | | 166.2 | | | (70.1 | ) |
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Income before income taxes | 167.2 | | | 167.2 | | | 155.5 | | | (320.0 | ) | | 169.9 | |
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Income taxes | — | | | — | | | (2.6 | ) | | — | | | (2.6 | ) |
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Net income | 167.2 | | | 167.2 | | | 152.9 | | | (320.0 | ) | | 167.3 | |
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Less: Net income attributable to noncontrolling | — | | | — | | | 0.1 | | | — | | | 0.1 | |
interests |
Net income attributable to ONEOK Partners, L.P. | $ | 167.2 | | | $ | 167.2 | | | $ | 152.8 | | | $ | (320.0 | ) | | $ | 167.2 | |
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| Three Months Ended September 30, 2013 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Revenues | | | | | | | | | |
Commodity sales | $ | — | | | $ | — | | | $ | 2,807.30 | | | $ | — | | | $ | 2,807.30 | |
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Services | — | | | — | | | 327.4 | | | — | | | 327.4 | |
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Total revenues | — | | | — | | | 3,134.70 | | | — | | | 3,134.70 | |
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Cost of sales and fuel | — | | | — | | | 2,711.10 | | | — | | | 2,711.10 | |
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Net margin | — | | | — | | | 423.6 | | | — | | | 423.6 | |
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Operating expenses | | | | | | | | | | | | | | |
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Operations and maintenance | — | | | — | | | 109 | | | — | | | 109 | |
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Depreciation and amortization | — | | | — | | | 61.2 | | | — | | | 61.2 | |
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General taxes | — | | | — | | | 13.3 | | | — | | | 13.3 | |
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Total operating expenses | — | | | — | | | 183.5 | | | — | | | 183.5 | |
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Operating income | — | | | — | | | 240.1 | | | — | | | 240.1 | |
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Equity earnings from investments | 216.3 | | | 216.3 | | | 11 | | | (416.1 | ) | | 27.5 | |
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Allowance for equity funds used during | — | | | — | | | 6.4 | | | — | | | 6.4 | |
construction |
Other income (expense), net | 70.6 | | | 70.6 | | | 3.1 | | | (141.2 | ) | | 3.1 | |
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Interest expense, net | (70.6 | ) | | (70.6 | ) | | (57.7 | ) | | 141.2 | | | (57.7 | ) |
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Income before income taxes | 216.3 | | | 216.3 | | | 202.9 | | | (416.1 | ) | | 219.4 | |
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Income taxes | — | | | — | | | (3.0 | ) | | — | | | (3.0 | ) |
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Net income | 216.3 | | | 216.3 | | | 199.9 | | | (416.1 | ) | | 216.4 | |
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Less: Net income attributable to noncontrolling | — | | | — | | | 0.1 | | | — | | | 0.1 | |
interests |
Net income attributable to ONEOK Partners, L.P. | $ | 216.3 | | | $ | 216.3 | | | $ | 199.8 | | | $ | (416.1 | ) | | $ | 216.3 | |
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| Nine Months Ended September 30, 2014 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Revenues | | | | | | | | | |
Commodity sales | $ | — | | | $ | — | | | $ | 8,276.30 | | | $ | — | | | $ | 8,276.30 | |
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Services | — | | | — | | | 1,071.10 | | | — | | | 1,071.10 | |
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Total revenues | — | | | — | | | 9,347.40 | | | — | | | 9,347.40 | |
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Cost of sales and fuel | — | | | — | | | 7,807.30 | | | — | | | 7,807.30 | |
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Net margin | — | | | — | | | 1,540.10 | | | — | | | 1,540.10 | |
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Operating expenses | | | | | | | | | | | | | | |
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Operations and maintenance | — | | | — | | | 425.6 | | | — | | | 425.6 | |
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Depreciation and amortization | — | | | — | | | 212.1 | | | — | | | 212.1 | |
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General taxes | — | | | — | | | 55.9 | | | — | | | 55.9 | |
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Total operating expenses | — | | | — | | | 693.6 | | | — | | | 693.6 | |
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Gain (loss) on sale of assets | — | | | — | | | 1.5 | | | — | | | 1.5 | |
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Operating income | — | | | — | | | 848 | | | — | | | 848 | |
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Equity earnings (loss) from investments | 647.1 | | | 647.1 | | | (46.9 | ) | | (1,240.6 | ) | | 6.7 | |
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Allowance for equity funds used during | — | | | — | | | 13.9 | | | — | | | 13.9 | |
construction |
Other income (expense), net | 248.9 | | | 248.9 | | | — | | | (497.8 | ) | | — | |
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Interest expense, net | (248.9 | ) | | (248.9 | ) | | (211.3 | ) | | 497.8 | | | (211.3 | ) |
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Income before income taxes | 647.1 | | | 647.1 | | | 603.7 | | | (1,240.6 | ) | | 657.3 | |
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Income taxes | — | | | — | | | (10.0 | ) | | — | | | (10.0 | ) |
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Net income | 647.1 | | | 647.1 | | | 593.7 | | | (1,240.6 | ) | | 647.3 | |
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Less: Net income attributable to noncontrolling | — | | | — | | | 0.2 | | | — | | | 0.2 | |
interests |
Net income attributable to ONEOK Partners, L.P. | $ | 647.1 | | | $ | 647.1 | | | $ | 593.5 | | | $ | (1,240.6 | ) | | $ | 647.1 | |
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| Nine Months Ended September 30, 2013 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Revenues | | | | | | | | | |
Commodity sales | $ | — | | | $ | — | | | $ | 7,453.50 | | | $ | — | | | $ | 7,453.50 | |
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Services | — | | | — | | | 966.9 | | | — | | | 966.9 | |
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Total revenues | — | | | — | | | 8,420.40 | | | — | | | 8,420.40 | |
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Cost of sales and fuel | — | | | — | | | 7,214.30 | | | — | | | 7,214.30 | |
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Net margin | — | | | — | | | 1,206.10 | | | — | | | 1,206.10 | |
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Operating expenses | | | | | | | | | | | | | | |
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Operations and maintenance | — | | | — | | | 338.4 | | | — | | | 338.4 | |
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Depreciation and amortization | — | | | — | | | 174.1 | | | — | | | 174.1 | |
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General taxes | — | | | — | | | 46.2 | | | — | | | 46.2 | |
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Total operating expenses | — | | | — | | | 558.7 | | | — | | | 558.7 | |
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Gain (loss) on sale of assets | — | | | — | | | 0.4 | | | — | | | 0.4 | |
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Operating income | — | | | — | | | 647.8 | | | — | | | 647.8 | |
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Equity earnings from investments | 575.3 | | | 575.3 | | | 31.6 | | | (1,102.5 | ) | | 79.7 | |
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Allowance for equity funds used during | — | | | — | | | 21.2 | | | — | | | 21.2 | |
construction |
Other income (expense), net | 205.1 | | | 205.1 | | | 5.8 | | | (410.2 | ) | | 5.8 | |
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Interest expense, net | (205.1 | ) | | (205.1 | ) | | (171.1 | ) | | 410.2 | | | (171.1 | ) |
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Income before income taxes | 575.3 | | | 575.3 | | | 535.3 | | | (1,102.5 | ) | | 583.4 | |
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Income taxes | — | | | — | | | (7.9 | ) | | — | | | (7.9 | ) |
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Net income | 575.3 | | | 575.3 | | | 527.4 | | | (1,102.5 | ) | | 575.5 | |
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Less: Net income attributable to noncontrolling | — | | | — | | | 0.2 | | | — | | | 0.2 | |
interests |
Net income attributable to ONEOK Partners, L.P. | $ | 575.3 | | | $ | 575.3 | | | $ | 527.2 | | | $ | (1,102.5 | ) | | $ | 575.3 | |
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Condensed Consolidating Statements of Comprehensive Income |
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| Three Months Ended September 30, 2014 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Net income | $ | 167.2 | | | $ | 167.2 | | | $ | 152.9 | | | $ | (320.0 | ) | | $ | 167.3 | |
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Other comprehensive income (loss) | | | | | | | | | | | | |
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Unrealized gains (losses) on derivatives | 7.4 | | | 17.1 | | | 17.1 | | | (34.2 | ) | | 7.4 | |
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Realized (gains) losses on derivatives recognized in | 3 | | | 0.4 | | | 0.4 | | | (0.8 | ) | | 3 | |
net income |
Total other comprehensive income (loss) | 10.4 | | | 17.5 | | | 17.5 | | | (35.0 | ) | | 10.4 | |
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Comprehensive income | 177.6 | | | 184.7 | | | 170.4 | | | (355.0 | ) | | 177.7 | |
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Less: Comprehensive income attributable to | — | | | — | | | 0.1 | | | — | | | 0.1 | |
noncontrolling interests |
Comprehensive income attributable to | $ | 177.6 | | | $ | 184.7 | | | $ | 170.3 | | | $ | (355.0 | ) | | $ | 177.6 | |
ONEOK Partners, L.P. |
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| Three Months Ended September 30, 2013 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Net income | $ | 216.3 | | | $ | 216.3 | | | $ | 199.9 | | | $ | (416.1 | ) | | $ | 216.4 | |
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Other comprehensive income (loss) | | | | | | | | | | | | |
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Unrealized gains (losses) on derivatives | (3.6 | ) | | (10.3 | ) | | (10.3 | ) | | 20.6 | | | (3.6 | ) |
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Realized (gains) losses on derivatives recognized in | 2.2 | | | (0.4 | ) | | (0.4 | ) | | 0.8 | | | 2.2 | |
net income |
Total other comprehensive income (loss) | (1.4 | ) | | (10.7 | ) | | (10.7 | ) | | 21.4 | | | (1.4 | ) |
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Comprehensive income | 214.9 | | | 205.6 | | | 189.2 | | | (394.7 | ) | | 215 | |
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Less: Comprehensive income attributable to | — | | | — | | | 0.1 | | | — | | | 0.1 | |
noncontrolling interests |
Comprehensive income attributable to | $ | 214.9 | | | $ | 205.6 | | | $ | 189.1 | | | $ | (394.7 | ) | | $ | 214.9 | |
ONEOK Partners, L.P. |
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| Nine Months Ended September 30, 2014 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Net income | $ | 647.1 | | | $ | 647.1 | | | $ | 593.7 | | | $ | (1,240.6 | ) | | $ | 647.3 | |
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Other comprehensive income (loss) | | | | | | | | | | | | |
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Unrealized gains (losses) on derivatives | (81.6 | ) | | (24.7 | ) | | (24.7 | ) | | 49.4 | | | (81.6 | ) |
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Realized (gains) losses on derivatives recognized in | 39.8 | | | 32 | | | 32 | | | (64.0 | ) | | 39.8 | |
net income |
Total other comprehensive income (loss) | (41.8 | ) | | 7.3 | | | 7.3 | | | (14.6 | ) | | (41.8 | ) |
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Comprehensive income | 605.3 | | | 654.4 | | | 601 | | | (1,255.2 | ) | | 605.5 | |
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Less: Comprehensive income attributable to | — | | | — | | | 0.2 | | | — | | | 0.2 | |
noncontrolling interests |
Comprehensive income attributable to | $ | 605.3 | | | $ | 654.4 | | | $ | 600.8 | | | $ | (1,255.2 | ) | | $ | 605.3 | |
ONEOK Partners, L.P. |
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| Nine Months Ended September 30, 2013 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Net income | $ | 575.3 | | | $ | 575.3 | | | $ | 527.4 | | | $ | (1,102.5 | ) | | $ | 575.5 | |
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Other comprehensive income (loss) | | | | | | | | | | | | |
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Unrealized gains (losses) on derivatives | 38.8 | | | 3.1 | | | 3.1 | | | (6.2 | ) | | 38.8 | |
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Realized (gains) losses on derivatives recognized in | 3.2 | | | (4.2 | ) | | (4.2 | ) | | 8.4 | | | 3.2 | |
net income |
Total other comprehensive income (loss) | 42 | | | (1.1 | ) | | (1.1 | ) | | 2.2 | | | 42 | |
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Comprehensive income | 617.3 | | | 574.2 | | | 526.3 | | | (1,100.3 | ) | | 617.5 | |
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Less: Comprehensive income attributable to | — | | | — | | | 0.2 | | | — | | | 0.2 | |
noncontrolling interests |
Comprehensive income attributable to | $ | 617.3 | | | $ | 574.2 | | | $ | 526.1 | | | $ | (1,100.3 | ) | | $ | 617.3 | |
ONEOK Partners, L.P. |
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Condensed Consolidating Balance Sheets |
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| September 30, 2014 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
Assets | (Millions of dollars) |
Current assets | | | | | | | | | |
Cash and cash equivalents | $ | — | | | $ | 54 | | | $ | — | | | $ | — | | | $ | 54 | |
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Accounts receivable, net | — | | | — | | | 951.6 | | | — | | | 951.6 | |
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Affiliate receivables | — | | | — | | | 5.9 | | | — | | | 5.9 | |
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Natural gas and natural gas liquids in storage | — | | | — | | | 338.3 | | | — | | | 338.3 | |
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Commodity imbalances | — | | | — | | | 74.3 | | | — | | | 74.3 | |
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Other current assets | 13.1 | | | — | | | 70.7 | | | — | | | 83.8 | |
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Total current assets | 13.1 | | | 54 | | | 1,440.80 | | | — | | | 1,507.90 | |
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Property, plant and equipment | | | | | | | | | | | | | | |
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Property, plant and equipment | — | | | — | | | 11,951.50 | | | — | | | 11,951.50 | |
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Accumulated depreciation and amortization | — | | | — | | | 1,837.10 | | | — | | | 1,837.10 | |
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Net property, plant and equipment | — | | | — | | | 10,114.40 | | | — | | | 10,114.40 | |
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Investments and other assets | | | | | | | | | | | | | | |
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Investments in unconsolidated affiliates | 4,222.70 | | | 5,179.50 | | | 738.9 | | | (9,012.6 | ) | | 1,128.50 | |
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Intercompany notes receivable | 7,612.00 | | | 6,601.20 | | | — | | | (14,213.2 | ) | | — | |
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Goodwill and intangible assets | — | | | — | | | 825.3 | | | — | | | 825.3 | |
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Other assets | 56 | | | — | | | 22.1 | | | — | | | 78.1 | |
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Total investments and other assets | 11,890.70 | | | 11,780.70 | | | 1,586.30 | | | (23,225.8 | ) | | 2,031.90 | |
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Total assets | $ | 11,903.80 | | | $ | 11,834.70 | | | $ | 13,141.50 | | | $ | (23,225.8 | ) | | $ | 13,654.20 | |
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Liabilities and equity | | | | | | | | | | | | | | |
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Current liabilities | | | | | | | | | | | | | | |
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Current maturities of long-term debt | $ | — | | | $ | — | | | $ | 7.7 | | | $ | — | | | $ | 7.7 | |
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Accounts payable | — | | | — | | | 1,216.10 | | | — | | | 1,216.10 | |
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Affiliate payables | — | | | — | | | 29.4 | | | — | | | 29.4 | |
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Commodity imbalances | — | | | — | | | 171.2 | | | — | | | 171.2 | |
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Accrued interest | 88 | | | — | | | — | | | — | | | 88 | |
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Other current liabilities | 23.3 | | | — | | | 136 | | | — | | | 159.3 | |
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Total current liabilities | 111.3 | | | — | | | 1,560.40 | | | — | | | 1,671.70 | |
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Intercompany debt | — | | | 7,612.00 | | | 6,601.20 | | | (14,213.2 | ) | | — | |
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Long-term debt, excluding current maturities | 5,986.20 | | | — | | | 53.8 | | | — | | | 6,040.00 | |
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Deferred credits and other liabilities | — | | | — | | | 131.8 | | | — | | | 131.8 | |
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Commitments and contingencies | | | | | | | | | | | | | | |
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Equity | | | | | | | | | | | | | | |
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Equity excluding noncontrolling interests in | 5,806.30 | | | 4,222.70 | | | 4,789.90 | | | (9,012.6 | ) | | 5,806.30 | |
consolidated subsidiaries |
Noncontrolling interests in consolidated | — | | | — | | | 4.4 | | | — | | | 4.4 | |
subsidiaries |
Total equity | 5,806.30 | | | 4,222.70 | | | 4,794.30 | | | (9,012.6 | ) | | 5,810.70 | |
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Total liabilities and equity | $ | 11,903.80 | | | $ | 11,834.70 | | | $ | 13,141.50 | | | $ | (23,225.8 | ) | | $ | 13,654.20 | |
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| | | | | | | | | | | | | | | | | | | |
| December 31, 2013 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
Assets | (Millions of dollars) |
Current assets | | | | | | | | | |
Cash and cash equivalents | $ | — | | | $ | 134.5 | | | $ | — | | | $ | — | | | $ | 134.5 | |
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Accounts receivable, net | — | | | — | | | 1,103.10 | | | — | | | 1,103.10 | |
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Affiliate receivables | — | | | — | | | 9.2 | | | — | | | 9.2 | |
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Natural gas and natural gas liquids in storage | — | | | — | | | 188.3 | | | — | | | 188.3 | |
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Commodity imbalances | — | | | — | | | 80.5 | | | — | | | 80.5 | |
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Other current assets | 4.8 | | | — | | | 62.7 | | | — | | | 67.5 | |
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Total current assets | 4.8 | | | 134.5 | | | 1,443.80 | | | — | | | 1,583.10 | |
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Property, plant and equipment | | | | | | | | | | | | | | |
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Property, plant and equipment | — | | | — | | | 10,755.00 | | | — | | | 10,755.00 | |
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Accumulated depreciation and amortization | — | | | — | | | 1,652.60 | | | — | | | 1,652.60 | |
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Net property, plant and equipment | — | | | — | | | 9,102.40 | | | — | | | 9,102.40 | |
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Investments and other assets | | | | | | | | | | | | | | |
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Investments in unconsolidated affiliates | 4,336.40 | | | 4,593.10 | | | 825.6 | | | (8,525.3 | ) | | 1,229.80 | |
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Intercompany notes receivable | 6,638.30 | | | 6,247.10 | | | — | | | (12,885.4 | ) | | — | |
|
Goodwill and intangible assets | — | | | — | | | 832.2 | | | — | | | 832.2 | |
|
Other assets | 92.7 | | | — | | | 22.4 | | | — | | | 115.1 | |
|
Total investments and other assets | 11,067.40 | | | 10,840.20 | | | 1,680.20 | | | (21,410.7 | ) | | 2,177.10 | |
|
Total assets | $ | 11,072.20 | | | $ | 10,974.70 | | | $ | 12,226.40 | | | $ | (21,410.7 | ) | | $ | 12,862.60 | |
|
Liabilities and equity | | | | | | | | | | | | | | |
|
Current liabilities | | | | | | | | | | | | | | |
|
Current maturities of long-term debt | $ | — | | | $ | — | | | $ | 7.7 | | | $ | — | | | $ | 7.7 | |
|
Accounts payable | — | | | — | | | 1,255.40 | | | — | | | 1,255.40 | |
|
Affiliate payables | — | | | — | | | 47.5 | | | — | | | 47.5 | |
|
Commodity imbalances | — | | | — | | | 213.6 | | | — | | | 213.6 | |
|
Accrued interest | 92.7 | | | — | | | — | | | — | | | 92.7 | |
|
Other current liabilities | — | | | — | | | 89.1 | | | — | | | 89.1 | |
|
Total current liabilities | 92.7 | | | — | | | 1,613.30 | | | — | | | 1,706.00 | |
|
Intercompany debt | — | | | 6,638.30 | | | 6,247.10 | | | (12,885.4 | ) | | — | |
|
Long-term debt, excluding current maturities | 5,985.30 | | | — | | | 59.6 | | | — | | | 6,044.90 | |
|
Deferred credits and other liabilities | — | | | — | | | 113 | | | — | | | 113 | |
|
Commitments and contingencies | | | | | | | | | | | | | | |
|
Equity | | | | | | | | | | | | | | |
|
Equity excluding noncontrolling interests in | 4,994.20 | | | 4,336.40 | | | 4,188.90 | | | (8,525.3 | ) | | 4,994.20 | |
consolidated subsidiaries |
Noncontrolling interests in consolidated | — | | | — | | | 4.5 | | | — | | | 4.5 | |
subsidiaries |
Total equity | 4,994.20 | | | 4,336.40 | | | 4,193.40 | | | (8,525.3 | ) | | 4,998.70 | |
|
Total liabilities and equity | $ | 11,072.20 | | | $ | 10,974.70 | | | $ | 12,226.40 | | | $ | (21,410.7 | ) | | $ | 12,862.60 | |
|
|
Condensed Consolidating Statements of Cash Flows |
|
| | | | | | | | | | | | | | | | | | | |
| Nine Months Ended September 30, 2014 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Operating activities | | | | | | | | | |
Cash provided by operating activities | $ | 815.1 | | | $ | 53.7 | | | $ | 786.4 | | | $ | (768.1 | ) | | $ | 887.1 | |
|
Investing activities | | | | | | | | | | | | | | |
|
Capital expenditures (less allowance for equity | — | | | — | | | (1,173.0 | ) | | — | | | (1,173.0 | ) |
funds used during construction) |
Acquisition | — | | | — | | | (14.0 | ) | | — | | | (14.0 | ) |
|
Contributions to unconsolidated affiliates | — | | | — | | | (1.0 | ) | | — | | | (1.0 | ) |
|
Distributions received from unconsolidated | — | | | 14.5 | | | 10.4 | | | — | | | 24.9 | |
affiliates |
Proceeds from sale of assets | — | | | — | | | 2.4 | | | — | | | 2.4 | |
|
Cash provided by (used in) investing activities | — | | | 14.5 | | | (1,175.2 | ) | | — | | | (1,160.7 | ) |
|
Financing activities | | | | | | | | | | | | | | |
|
Cash distributions: | | | | | | | | | | | | | | |
|
General and limited partners | (768.1 | ) | | (768.1 | ) | | — | | | 768.1 | | | (768.1 | ) |
|
Noncontrolling interests | — | | | — | | | (0.4 | ) | | — | | | (0.4 | ) |
|
Borrowing of notes payable, net | — | | | — | | | — | | | — | | | — | |
|
Intercompany borrowings (advances), net | (1,014.3 | ) | | 619.4 | | | 394.9 | | | — | | | — | |
|
Repayment of long-term debt | — | | | — | | | (5.7 | ) | | — | | | (5.7 | ) |
|
Issuance of common units, net of issuance costs | 947.5 | | | — | | | — | | | — | | | 947.5 | |
|
Contribution from general partner | 19.8 | | | — | | | — | | | — | | | 19.8 | |
|
Cash provided by (used in) financing activities | (815.1 | ) | | (148.7 | ) | | 388.8 | | | 768.1 | | | 193.1 | |
|
Change in cash and cash equivalents | — | | | (80.5 | ) | | — | | | — | | | (80.5 | ) |
|
Cash and cash equivalents at beginning of | — | | | 134.5 | | | — | | | — | | | 134.5 | |
period |
Cash and cash equivalents at end of period | $ | — | | | $ | 54 | | | $ | — | | | $ | — | | | $ | 54 | |
|
|
|
| | | | | | | | | | | | | | | | | | | |
| Nine Months Ended September 30, 2013 |
(Unaudited) | Parent | | Guarantor | | Combined | | Consolidating | | Total |
Subsidiary | Non-Guarantor | Entries |
| Subsidiaries | |
| (Millions of dollars) |
Operating activities | | | | | | | | | |
Cash provided by operating activities | $ | 641.5 | | | $ | 48.1 | | | $ | 634.5 | | | $ | (670.0 | ) | | $ | 654.1 | |
|
Investing activities | | | | | | | | | | | | | | |
|
Capital expenditures (less allowance for equity | — | | | — | | | (1,373.9 | ) | | — | | | (1,373.9 | ) |
funds used during construction) |
Acquisition | — | | | — | | | (304.9 | ) | | — | | | (304.9 | ) |
|
Contributions to unconsolidated affiliates | — | | | — | | | (4.6 | ) | | — | | | (4.6 | ) |
|
Distributions received from unconsolidated | — | | | 17.3 | | | 7.6 | | | — | | | 24.9 | |
affiliates |
Proceeds from sale of assets | — | | | — | | | 0.7 | | | — | | | 0.7 | |
|
Cash provided by (used in) investing activities | — | | | 17.3 | | | (1,675.1 | ) | | — | | | (1,657.8 | ) |
|
Financing activities | | | | | | | | | | | | | | |
|
Cash distributions: | | | | | | | | | | | | | | |
|
General and limited partners | (670.0 | ) | | (670.0 | ) | | — | | | 670 | | | (670.0 | ) |
|
Noncontrolling interests | — | | | — | | | (0.4 | ) | | — | | | (0.4 | ) |
|
Borrowings of notes payable, net | 47 | | | — | | | — | | | — | | | 47 | |
|
Issuance of long-term debt, net of discounts | 1,247.80 | | | — | | | — | | | — | | | 1,247.80 | |
|
Long-term debt financing costs | (10.2 | ) | | — | | | — | | | — | | | (10.2 | ) |
|
Intercompany borrowings (advances), net | (1,837.2 | ) | | 790.5 | | | 1,046.70 | | | — | | | — | |
|
Repayment of long-term debt | — | | | — | | | (5.7 | ) | | — | | | (5.7 | ) |
|
Issuance of common units, net of issuance costs | 569.2 | | | — | | | — | | | — | | | 569.2 | |
|
Contribution from general partner | 11.9 | | | — | | | — | | | — | | | 11.9 | |
|
Cash provided by (used in) financing activities | (641.5 | ) | | 120.5 | | | 1,040.60 | | | 670 | | | 1,189.60 | |
|
Change in cash and cash equivalents | — | | | 185.9 | | | — | | | — | | | 185.9 | |
|
Cash and cash equivalents at beginning of | — | | | 537.1 | | | — | | | — | | | 537.1 | |
period |
Cash and cash equivalents at end of period | $ | — | | | $ | 723 | | | $ | — | | | $ | — | | | $ | 723 | |
|
| | | | | | | | | | | | | | | | | | | | |