Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2013

Condensed Consolidating Financial Information [Abstract]

ligations. 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

June 30, 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	$	4	$	—	$	18,233		$	431		$	—		$	18,668
Other current assets	892,978		—		444,424			44,647			(914,717		)	467,332
Total current assets	892,982		—		462,657			45,078			(914,717		)	486,000
Fixed assets, at cost	—		—		718,382			114,769			—			833,151
Less: Accumulated depreciation	—		—		(162,270		)	(14,842		)	—			(177,112		)
Net fixed assets	—		—		556,112			99,927			—			656,039
Goodwill	—		—		325,046			—			—			325,046
Other assets, net	23,705		—		244,309			155,070			(161,497		)	261,587
Equity investees	—		—		604,380			—			—			604,380
Investments in subsidiaries	1,000,004		—		105,702			—			(1,105,706		)	—
Total assets	$	1,916,691	$	—	$	2,298,206		$	300,075		$	(2,181,920	)	$	2,333,052
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities	$	10,308	$	—	$	1,270,488		$	29,996		$	(914,489	)	$	396,303
Senior secured credit facility	319,100		—		—			—			—			319,100
Senior unsecured notes	700,835		—		—			—			—			700,835
Deferred tax liabilities	—		—		13,275			—			—			13,275
Other liabilities	—		—		13,453			164,955			(161,317		)	17,091
Total liabilities	1,030,243		—		1,297,216			194,951			(1,075,806		)	1,446,604
Partners’ capital	886,448		—		1,000,990			105,124			(1,106,114		)	886,448
Total liabilities and partners’ capital	$	1,916,691	$	—	$	2,298,206		$	300,075		$	(2,181,920	)	$	2,333,052

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 June 30, 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	$	—		$	—	$	1,134,554		$	35,124		$	(30,034	)	$	1,139,644
Refinery services	—			—		51,682			3,796			(4,002		)	51,476
Pipeline transportation services	—			—		15,731			6,806			—			22,537
Total revenues	—			—		1,201,967			45,726			(34,036		)	1,213,657
COSTS AND EXPENSES:
Supply and logistics costs	—			—		1,109,870			33,221			(30,034		)	1,113,057
Refinery services operating costs	—			—		32,915			3,516			(3,610		)	32,821
Pipeline transportation operating costs	—			—		6,668			477			—			7,145
General and administrative	—			—		11,287			27			—			11,314
Depreciation and amortization	—			—		14,760			910			—			15,670
Total costs and expenses	—			—		1,175,500			38,151			(33,644		)	1,180,007
OPERATING INCOME	—			—		26,467			7,575			(392		)	33,650
Equity in earnings of subsidiaries	39,133			—		3,533			—			(42,666		)	—
Equity in earnings of equity investees	—			—		5,623			—			—			5,623
Interest (expense) income, net	(12,231		)	—		4,030			(4,053		)	—			(12,254		)
Income before income taxes	26,902			—		39,653			3,522			(43,058		)	27,019
Income tax expense	—			—		(87		)	(30		)	—			(117		)
NET INCOME	$	26,902		$	—	$	39,566		$	3,492		$	(43,058	)	$	26,902

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended June 30, 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	$	—		$	—	$	940,232	$	32,159		$	(24,501	)	$	947,890
Refinery services	—			—		45,311		6,744			(3,735		)	48,320
Pipeline transportation services	—			—		10,869		6,352			—			17,221
Total revenues	—			—		996,412		45,255			(28,236		)	1,013,431
COSTS AND EXPENSES:
Supply and logistics costs	—			—		920,360		28,022			(24,499		)	923,883
Refinery services operating costs	—			—		29,175		6,087			(4,212		)	31,050
Pipeline transportation operating costs	—			—		4,856		176			—			5,032
General and administrative	—			—		9,937		30			—			9,967
Depreciation and amortization	—			—		14,932		898			—			15,830
Total costs and expenses	—			—		979,260		35,213			(28,711		)	985,762
OPERATING INCOME	—			—		17,152		10,042			475			27,669
Equity in earnings of subsidiaries	28,791			—		5,809		—			(34,600		)	—
Equity in earnings of equity investees	—			—		1,047		—			—			1,047
Interest (expense) income, net	(10,207		)	—		4,141		(4,162		)	—			(10,228		)
Income before income taxes	18,584			—		28,149		5,880			(34,125		)	18,488
Income tax benefit (expense)	—			—		216		(120		)	—			96
NET INCOME	$	18,584		$	—	$	28,365	$	5,760		$	(34,125	)	$	18,584

Unaudited Condensed Consolidating Statement of Operations

Six Months Ended June 30, 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	$	—		$	—	$	2,205,043	$	74,069		$	(62,517	)	$	2,216,595
Refinery services	—			—		99,449		9,359			(7,848		)	100,960
Pipeline transportation services	—			—		29,857		13,459			—			43,316
Total revenues	—			—		2,334,349		96,887			(70,365		)	2,360,871
COSTS AND EXPENSES:
Supply and logistics costs	—			—		2,158,801		67,512			(62,517		)	2,163,796
Refinery services operating costs	—			—		64,082		8,798			(7,616		)	65,264
Pipeline transportation operating costs	—			—		13,422		807			—			14,229
General and administrative	—			—		23,001		60			—			23,061
Depreciation and amortization	—			—		28,911		1,812			—			30,723
Total costs and expenses	—			—		2,288,217		78,989			(70,133		)	2,297,073
OPERATING INCOME	—			—		46,132		17,898			(232		)	63,798
Equity in earnings of subsidiaries	73,385			—		9,771		—			(83,156		)	—
Equity in earnings of equity investees	—			—		9,559		—			—			9,559
Interest (expense) income, net	(23,637		)	—		8,077		(8,135		)	—			(23,695		)
Income before income taxes	49,748			—		73,539		9,763			(83,388		)	49,662
Income tax benefit (expense)	—			—		170		(84		)	—			86
NET INCOME	$	49,748		$	—	$	73,709	$	9,679		$	(83,388	)	$	49,748

Unaudited Condensed Consolidating Statement of Operations

Six Months Ended June 30, 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	$	—		$	—	$	1,827,913	$	64,338		$	(51,098	)	$	1,841,153
Refinery services	—			—		93,907		9,389			(6,931		)	96,365
Pipeline transportation services	—			—		23,785		12,845			—			36,630
Total revenues	—			—		1,945,605		86,572			(58,029		)	1,974,148
COSTS AND EXPENSES:
Supply and logistics costs	—			—		1,792,002		56,762			(51,096		)	1,797,668
Refinery services operating costs	—			—		59,816		9,136			(7,123		)	61,829
Pipeline transportation operating costs	—			—		9,690		394			—			10,084
General and administrative	—			—		19,499		60			—			19,559
Depreciation and amortization	—			—		28,819		1,790			—			30,609
Total costs and expenses	—			—		1,909,826		68,142			(58,219		)	1,919,749
OPERATING INCOME	—			—		35,779		18,430			190			54,399
Equity in earnings of subsidiaries	58,959			—		10,131		—			(69,090		)	—
Equity in earnings of equity investees	—			—		4,539		—			—			4,539
Interest (expense) income, net	(20,771		)	—		8,295		(8,348		)	—			(20,824		)
Income before income taxes	38,188			—		58,744		10,082			(68,900		)	38,114
Income tax benefit (expense)	—			—		121		(47		)	—			74
NET INCOME	$	38,188		$	—	$	58,865	$	10,035		$	(68,900	)	$	38,188

Condensed Consolidating Statements Of Cash Flows

Unaudited Condensed Consolidating Statement of Cash Flows

Six Months Ended June 30, 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	$	(86,739	)	$	—	$	245,918		$	17,342		$	(80,735	)	$	95,786
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(98,050		)	(9,116		)	—			(107,166		)
Cash distributions received from equity investees - return of investment	5,585			—		5,539			—			(5,585		)	5,539
Investments in equity investees	—			—		(66,207		)	—			—			(66,207		)
Repayments on loan to non-guarantor subsidiary	—			—		2,199			—			(2,199		)	—
Proceeds from asset sales	—			—		626			—			—			626
Other, net	—			—		171			—			—			171
Net cash provided by (used) in investing activities	5,585			—		(155,722		)	(9,116		)	(7,784		)	(167,037		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	668,500			—		—			—			—			668,500
Repayments on senior secured credit facility	(849,400		)	—		—			—			—			(849,400		)
Proceeds from issuance of senior unsecured notes, including premium	350,000			—		—			—			—			350,000
Debt issuance costs	(8,157		)	—		—			—			—			(8,157		)
Distributions to partners/owners	(79,795		)	—		(79,795		)	(6,545		)	86,340			(79,795		)
Other, net	—			—		(3,382		)	(1,308		)	2,179			(2,511		)
Net cash provided by (used in) financing activities	81,148			—		(83,177		)	(7,853		)	88,519			78,637
Net (decrease) increase in cash and cash equivalents	(6		)	—		7,019			373			—			7,386
Cash and cash equivalents at beginning of period	10			—		11,214			58			—			11,282
Cash and cash equivalents at end of period	$	4		$	—	$	18,233		$	431		$	—		$	18,668

Unaudited Condensed Consolidating Statement of Cash Flows

Six Months Ended June 30, 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	$	(86,721	)	$	—	$	231,807		$	10,216		$	(56,023	)	$	99,279
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(78,937		)	(1,441		)	—			(80,378		)
Cash distributions received from equity investees - return of investment	20,155			—		7,309			—			(20,155		)	7,309
Investments in equity investees	(169,421		)	—		(52,226		)	—			170,216			(51,431		)
Acquisitions	—			—		(205,576		)	—			—			(205,576		)
Repayments on loan to non-guarantor subsidiary	—			—		1,987			—			(1,987		)	—
Proceeds from asset sales	—			—		654			—			—			654
Other, net	—			—		(120		)	(795		)	—			(915		)
Net cash used in investing activities	(149,266		)	—		(326,909		)	(2,236		)	148,074			(330,337		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	700,700			—		—			—			—			700,700
Repayments on senior secured credit facility	(665,000		)	—		—			—			—			(665,000		)
Proceeds from issuance of senior unsecured notes, including premium	101,000			—		—			—			—			101,000
Debt issuance costs	(2,690		)	—		—			—			—			(2,690		)
Distributions to partners/owners	(67,445		)	—		(67,445		)	(8,750		)	76,195			(67,445		)
Issuance of common units for cash, net	169,421			—		169,421			795			(170,216		)	169,421
Other, net	—			—		(1,403		)	(1,270		)	1,970			(703		)
Net cash provided by (used in) financing activities	235,986			—		100,573			(9,225		)	(92,051		)	235,283
Net (decrease) increase in cash and cash equivalents	(1		)	—		5,471			(1,245		)	—			4,225
Cash and cash equivalents at beginning of period	3			—		9,182			1,632			—			10,817
Cash and cash equivalents at end of period	$	2		$	—	$	14,653		$	387		$	—		$	15,042