Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2013

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidating Balance Sheet

The following is condensed consolidating financial information for Genesis Energy, L.P., the guarantor subsidiaries and the non-guarantor subsidiaries.

Unaudited Condensed Consolidating Balance Sheet

March 31, 2013

	Genesis Energy, L.P. (Parent and Co-Issuer)		Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	5	$	—	$	15,836		$	142		$	—		$	15,983
Other current assets	857,903		—		434,548			50,483			(876,660		)	466,274
Total current assets	857,908		—		450,384			50,625			(876,660		)	482,257
Fixed assets, at cost	—		—		648,992			110,900			—			759,892
Less: Accumulated depreciation	—		—		(154,184		)	(13,963		)	—			(168,147		)
Net fixed assets	—		—		494,808			96,937			—			591,745
Goodwill	—		—		325,046			—			—			325,046
Other assets, net	24,842		—		249,576			156,352			(162,611		)	268,159
Equity investees			—		608,076			—			—			608,076
Investments in subsidiaries	1,001,279		—		105,378			—			(1,106,657		)	—
Total assets	$	1,884,029	$	—	$	2,233,268		$	303,914		$	(2,145,928	)	$	2,275,283
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities	$	12,213	$	—	$	1,204,308		$	33,681		$	(876,823	)	$	373,379
Senior secured credit facility	271,000		—		—			—			—			271,000
Senior unsecured notes	700,865		—		—			—			—			700,865
Deferred tax liabilities	—		—		13,488			—			—			13,488
Other liabilities	—		—		13,249			165,780			(162,429		)	16,600
Total liabilities	984,078		—		1,231,045			199,461			(1,039,252		)	1,375,332
Partners’ capital	899,951		—		1,002,223			104,453			(1,106,676		)	899,951
Total liabilities and partners’ capital	$	1,884,029	$	—	$	2,233,268		$	303,914		$	(2,145,928	)	$	2,275,283

Unaudited Condensed Consolidating Balance Sheet

December 31, 2012

	Genesis Energy, L.P. (Parent and Co-Issuer)		Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	10	$	—	$	11,214		$	58		$	—		$	11,282
Other current assets	745,589		—		367,837			41,533			(762,207		)	392,752
Total current assets	745,599		—		379,051			41,591			(762,207		)	404,034
Fixed assets, at cost	—		—		617,519			105,706			—			723,225
Less: Accumulated depreciation	—		—		(144,882		)	(13,062		)	—			(157,944		)
Net fixed assets	—		—		472,637			92,644			—			565,281
Goodwill	—		—		325,046			—			—			325,046
Other assets, net	17,737		—		254,423			157,604			(163,696		)	266,068
Equity investees	—		—		549,235			—			—			549,235
Investments in subsidiaries	1,006,415		—		102,707			—			(1,109,122		)	—
Total assets	$	1,769,751	$	—	$	2,083,099		$	291,839		$	(2,035,025	)	$	2,109,664
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities	$	2,361	$	—	$	1,048,937		$	23,567		$	(762,214	)	$	312,651
Senior secured credit facility	500,000		—		—			—			—			500,000
Senior unsecured notes	350,895		—		—			—			—			350,895
Deferred tax liabilities	—		—		13,810			—			—			13,810
Other liabilities	—		—		13,044			166,282			(163,513		)	15,813
Total liabilities	853,256		—		1,075,791			189,849			(925,727		)	1,193,169
Partners’ capital	916,495		—		1,007,308			101,990			(1,109,298		)	916,495
Total liabilities and partners’ capital	$	1,769,751	$	—	$	2,083,099		$	291,839		$	(2,035,025	)	$	2,109,664

Condensed Consolidating Statement Of Operations

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2013

	Genesis Energy, L.P. (Parent and Co-Issuer)			Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
REVENUES:
Supply and logistics	$	—		$	—	$	1,070,489	$	38,945		$	(32,483	)	$	1,076,951
Refinery services	—			—		47,767		5,563			(3,846		)	49,484
Pipeline transportation services	—			—		14,126		6,653			—			20,779
Total revenues	—			—		1,132,382		51,161			(36,329		)	1,147,214
COSTS AND EXPENSES:
Supply and logistics costs	—			—		1,048,931		34,291			(32,483		)	1,050,739
Refinery services operating costs	—			—		31,167		5,282			(4,006		)	32,443
Pipeline transportation operating costs	—			—		6,754		330			—			7,084
General and administrative	—			—		11,714		33			—			11,747
Depreciation and amortization	—			—		14,151		902			—			15,053
Total costs and expenses	—			—		1,112,717		40,838			(36,489		)	1,117,066
OPERATING INCOME	—			—		19,665		10,323			160			30,148
Equity in earnings of subsidiaries	34,252			—		6,238		—			(40,490		)	—
Equity in earnings of equity investees	—			—		3,936		—			—			3,936
Interest (expense) income, net	(11,406		)	—		4,047		(4,082		)	—			(11,441		)
Income before income taxes	22,846			—		33,886		6,241			(40,330		)	22,643
Income tax benefit (expense)	—			—		257		(54		)	—			203
NET INCOME	$	22,846		$	—	$	34,143	$	6,187		$	(40,330	)	$	22,846

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2012

	Genesis Energy, L.P. (Parent and Co-Issuer)			Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
REVENUES:
Supply and logistics	$	—		$	—	$	887,681		$	32,179		$	(26,597	)	$	893,263
Refinery services	—			—		48,596			2,645			(3,196		)	48,045
Pipeline transportation services	—			—		12,916			6,493			—			19,409
Total revenues	—			—		949,193			41,317			(29,793		)	960,717
COSTS AND EXPENSES:
Supply and logistics costs	—			—		871,642			28,740			(26,597		)	873,785
Refinery services operating costs	—			—		30,641			3,049			(2,911		)	30,779
Pipeline transportation operating costs	—			—		4,834			218			—			5,052
General and administrative	—			—		9,562			30			—			9,592
Depreciation and amortization	—			—		13,887			892			—			14,779
Total costs and expenses	—			—		930,566			32,929			(29,508		)	933,987
OPERATING INCOME	—			—		18,627			8,388			(285		)	26,730
Equity in earnings of subsidiaries	30,168			—		4,322			—			(34,490		)	—
Equity in earnings of equity investees	—			—		3,492			—			—			3,492
Interest (expense) income, net	(10,564		)	—		4,154			(4,186		)	—			(10,596		)
Income before income taxes	19,604			—		30,595			4,202			(34,775		)	19,626
Income tax (expense) benefit	—			—		(95		)	73			—			(22		)
NET INCOME	$	19,604		$	—	$	30,500		$	4,275		$	(34,775	)	$	19,604

Condensed Consolidating Statements Of Cash Flows

Unaudited Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2013

	Genesis Energy, L.P. (Parent and Co-Issuer)			Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
Net cash (used in) provided by operating activities	$	(73,458	)	$	—	$	145,881		$	9,500		$	(43,107	)	$	38,816
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(41,950		)	(5,201		)	—			(47,151		)
Cash distributions received from equity investees - return of investment	—			—		3,583			—						3,583
Investments in equity investees	—			—		(64,534		)	—						(64,534		)
Repayments on loan to non-guarantor subsidiary	—			—		1,086			—			(1,086		)	—
Proceeds from asset sales	—			—		332			—			—			332
Other, net	—			—		749			6			—			755
Net cash used in investing activities	—			—		(100,734		)	(5,195		)	(1,086		)	(107,015		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	386,400			—		—			—			—			386,400
Repayments on senior secured credit facility	(615,400		)	—		—			—			—			(615,400		)
Proceeds from issuance of senior unsecured notes, including premium	350,000			—		—			—			—			350,000
Debt issuance costs	(8,157		)	—		—			—			—			(8,157		)
Distributions to partners/owners	(39,390		)	—		(39,390		)	(3,727		)	43,117			(39,390		)
Other, net	—			—		(1,135		)	(494		)	1,076			(553		)
Net cash provided by (used in) financing activities	73,453			—		(40,525		)	(4,221		)	44,193			72,900
Net (decrease) increase in cash and cash equivalents	(5		)	—		4,622			84			—			4,701
Cash and cash equivalents at beginning of period	10			—		11,214			58			—			11,282
Cash and cash equivalents at end of period	$	5		$	—	$	15,836		$	142		$	—		$	15,983

Unaudited Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2012

	Genesis Energy, L.P. (Parent and Co-Issuer)			Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
Net cash (used in) provided by operating activities	$	(110,241	)	$	—	$	147,523		$	3,207		$	(20,567	)	$	19,922
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(47,228		)	(245		)	—			(47,473		)
Cash distributions received from equity investees - return of investment	14,602			—		4,314			—			(14,602		)	4,314
Investments in equity investees	(169,524		)	—		(33,860		)	—			169,842			(33,542		)
Acquisitions	—			—		(205,576		)	—			—			(205,576		)
Repayments on loan to non-guarantor subsidiary	—			—		981			—			(981		)	—
Proceeds from asset sales	—			—		359			—			—			359
Other, net	—			—		221			(318		)	—			(97		)
Net cash used in investing activities	(154,922		)	—		(280,789		)	(563		)	154,259			(282,015		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	509,200			—		—			—			—			509,200
Repayments on senior secured credit facility	(480,300		)	—		—			—			—			(480,300		)
Proceeds from issuance of senior unsecured notes, including premium	101,000			—		—			—			—			101,000
Debt issuance costs	(2,584		)	—		—			—			—			(2,584		)
Distributions to partners/owners	(31,677		)	—		(31,677		)	(3,182		)	34,859			(31,677		)
Issuance of common units for cash, net	169,524			—		169,524			—			(169,524		)	169,524
Other, net	—			—		122			(658		)	973			437
Net cash provided by (used in) financing activities	265,163			—		137,969			(3,840		)	(133,692		)	265,600
Net increase (decrease) in cash and cash equivalents	—			—		4,703			(1,196		)	—			3,507
Cash and cash equivalents at beginning of period	3			—		9,182			1,632			—			10,817
Cash and cash equivalents at end of period	$	3		$	—	$	13,885		$	436		$	—		$	14,324