16. Condensed Consolidating Financial Information

Our $700 million aggregate principal amount of senior unsecured notes co-issued by Genesis Energy, L.P. and Genesis Energy Finance Corporation are fully and unconditionally guaranteed jointly and severally by all of Genesis Energy, L.P.’s subsidiaries, except Genesis Free State Pipeline, LLC, Genesis NEJD Pipeline, LLC and certain other minor subsidiaries. Genesis NEJD Pipeline, LLC is 100% owned by Genesis Energy, L.P., the parent company. The remaining non-guarantor subsidiaries are owned by Genesis Crude Oil, L.P., a guarantor subsidiary. Genesis Energy Finance Corporation has no independent assets or operations and accordingly has no ability to service obligations on the 2018 and 2021 Notes. Each subsidiary guarantor and the subsidiary co-issuer are 100% owned, directly or indirectly, by Genesis Energy, L.P. See Note 7 for additional information regarding our consolidated debt obligations. 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

September 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	$	20	$	—	$	15,862		$	977		$	—		$	16,859
Other current assets	975,220		—		483,258			47,888			(999,156		)	507,210
Total current assets	975,240		—		499,120			48,865			(999,156		)	524,069
Fixed assets, at cost	—		—		1,039,675			116,302			—			1,155,977
Less: Accumulated depreciation	—		—		(170,629		)	(16,011		)	—			(186,640		)
Net fixed assets	—		—		869,046			100,291			—			969,337
Goodwill	—		—		325,046			—			—			325,046
Other assets, net	22,568		—		240,081			153,758			(160,356		)	256,051
Equity investees	—		—		605,067			—			—			605,067
Investments in subsidiaries	1,252,345		—		107,042			—			(1,359,387		)	—
Total assets	$	2,250,153	$	—	$	2,645,402		$	302,914		$	(2,518,899	)	$	2,679,570
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities	$	11,832	$	—	$	1,364,742		$	32,820		$	(999,189	)	$	410,205
Senior secured credit facility	411,300		—		—			—			—			411,300
Senior unsecured notes	700,804		—		—			—			—			700,804
Deferred tax liabilities	—		—		13,625			—			—			13,625
Other liabilities	—		—		13,658			163,938			(160,177		)	17,419
Total liabilities	1,123,936		—		1,392,025			196,758			(1,159,366		)	1,553,353
Partners’ capital	1,126,217		—		1,253,377			106,156			(1,359,533		)	1,126,217
Total liabilities and partners’ capital	$	2,250,153	$	—	$	2,645,402		$	302,914		$	(2,518,899	)	$	2,679,570

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

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended September 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	$	—		$	—	$	1,182,561		$	38,908		$	(37,278	)	$	1,184,191
Refinery services	—			—		50,609			4,199			(2,398		)	52,410
Pipeline transportation services	—			—		16,604			6,613			—			23,217
Total revenues	—			—		1,249,774			49,720			(39,676		)	1,259,818
COSTS AND EXPENSES:
Supply and logistics costs	—			—		1,165,818			39,201			(37,278		)	1,167,741
Refinery services operating costs	—			—		31,840			3,862			(2,662		)	33,040
Pipeline transportation operating costs	—			—		6,075			203			—			6,278
General and administrative	—			—		12,063			32			—			12,095
Depreciation and amortization	—			—		14,789			1,277			—			16,066
Total costs and expenses	—			—		1,230,585			44,575			(39,940		)	1,235,220
OPERATING INCOME	—			—		19,189			5,145			264			24,598
Equity in earnings of subsidiaries	31,046			—		1,078			—			(32,124		)	—
Equity in earnings of equity investees	—			—		7,059			—			—			7,059
Interest (expense) income, net	(12,572		)	—		4,011			(4,026		)	—			(12,587		)
Income before income taxes	18,474			—		31,337			1,119			(31,860		)	19,070
Income tax expense	—			—		(505		)	(91		)	—			(596		)
NET INCOME	$	18,474		$	—	$	30,832		$	1,028		$	(31,860	)	$	18,474

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended September 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	$	—		$	—	$	969,229	$	31,113		$	(25,646	)	$	974,696
Refinery services	—			—		48,809		4,367			(5,199		)	47,977
Pipeline transportation services	—			—		12,596		6,568			—			19,164
Total revenues	—			—		1,030,634		42,048			(30,845		)	1,041,837
COSTS AND EXPENSES:
Supply and logistics costs	—			—		951,512		26,488			(25,648		)	952,352
Refinery services operating costs	—			—		29,339		4,565			(4,661		)	29,243
Pipeline transportation operating costs	—			—		5,661		250			—			5,911
General and administrative	—			—		10,343		32			—			10,375
Depreciation and amortization	—			—		13,940		898			—			14,838
Total costs and expenses	—			—		1,010,795		32,233			(30,309		)	1,012,719
OPERATING INCOME	—			—		19,839		9,815			(536		)	29,118
Equity in earnings of subsidiaries	41,052			—		5,738		—			(46,790		)	—
Equity in earnings of equity investees	—			—		3,432		—			—			3,432
Interest (expense) income, net	(9,858		)	—		4,119		(4,134		)	—			(9,873		)
Income before income taxes	31,194			—		33,128		5,681			(47,326		)	22,677
Income tax benefit	—			—		8,509		8			—			8,517
NET INCOME	$	31,194		$	—	$	41,637	$	5,689		$	(47,326	)	$	31,194

Unaudited Condensed Consolidating Statement of Operations

Nine Months Ended September 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	$	—		$	—	$	3,387,604		$	112,977		$	(99,795	)	$	3,400,786
Refinery services	—			—		150,058			13,558			(10,246		)	153,370
Pipeline transportation services	—			—		46,461			20,072			—			66,533
Total revenues	—			—		3,584,123			146,607			(110,041		)	3,620,689
COSTS AND EXPENSES:
Supply and logistics costs	—			—		3,324,619			106,713			(99,795		)	3,331,537
Refinery services operating costs	—			—		95,922			12,660			(10,278		)	98,304
Pipeline transportation operating costs	—			—		19,497			1,010			—			20,507
General and administrative	—			—		35,064			92			—			35,156
Depreciation and amortization	—			—		43,700			3,089			—			46,789
Total costs and expenses	—			—		3,518,802			123,564			(110,073		)	3,532,293
OPERATING INCOME	—			—		65,321			23,043			32			88,396
Equity in earnings of subsidiaries	104,431			—		10,849			—			(115,280		)	—
Equity in earnings of equity investees	—			—		16,618			—			—			16,618
Interest (expense) income, net	(36,209		)	—		12,088			(12,161		)	—			(36,282		)
Income before income taxes	68,222			—		104,876			10,882			(115,248		)	68,732
Income tax expense	—			—		(335		)	(175		)	—			(510		)
NET INCOME	$	68,222		$	—	$	104,541		$	10,707		$	(115,248	)	$	68,222

Unaudited Condensed Consolidating Statement of Operations

Nine Months Ended September 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	$	—		$	—	$	2,797,142	$	95,451		$	(76,744	)	$	2,815,849
Refinery services	—			—		142,716		13,756			(12,130		)	144,342
Pipeline transportation services	—			—		36,381		19,413			—			55,794
Total revenues	—			—		2,976,239		128,620			(88,874		)	3,015,985
COSTS AND EXPENSES:
Supply and logistics costs	—			—		2,743,514		83,250			(76,744		)	2,750,020
Refinery services operating costs	—			—		89,155		13,701			(11,784		)	91,072
Pipeline transportation operating costs	—			—		15,351		644			—			15,995
General and administrative	—			—		29,842		92			—			29,934
Depreciation and amortization	—			—		42,759		2,688			—			45,447
Total costs and expenses	—			—		2,920,621		100,375			(88,528		)	2,932,468
OPERATING INCOME	—			—		55,618		28,245			(346		)	83,517
Equity in earnings of subsidiaries	100,011			—		15,869		—			(115,880		)	—
Equity in earnings of equity investees	—			—		7,971		—			—			7,971
Interest (expense) income, net	(30,629		)	—		12,414		(12,482		)	—			(30,697		)
Income before income taxes	69,382			—		91,872		15,763			(116,226		)	60,791
Income tax benefit (expense)	—			—		8,630		(39		)	—			8,591
NET INCOME	$	69,382		$	—	$	100,502	$	15,724		$	(116,226	)	$	69,382

Unaudited Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 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	$	(139,747	)	$	—	$	348,447		$	20,540		$	(119,902	)	$	109,338
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(188,878		)	(10,756		)	—			(199,634		)
Cash distributions received from equity investees - return of investment	8,711			—		8,272			—			(8,711		)	8,272
Investments in equity investees	(263,597		)	—		(71,443		)	—			263,597			(71,443		)
Acquisitions	—			—		(230,921		)	—			—			(230,921		)
Repayments on loan to non-guarantor subsidiary	—			—		3,341			—			(3,341		)	—
Proceeds from asset sales	—			—		810			—			—			810
Other, net	—			—		(1,004		)	—			—			(1,004		)
Net cash provided by (used) in investing activities	(254,886		)	—		(479,823		)	(10,756		)	251,545			(493,920		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	1,234,500			—		—			—			—			1,234,500
Repayments on senior secured credit facility	(1,323,200		)	—		—			—			—			(1,323,200		)
Proceeds from issuance of senior unsecured notes, including premium	350,000			—		—			—			—			350,000
Debt issuance costs	(8,157		)	—		—			—			—			(8,157		)
Issuance of common units for cash, net	263,597			—		263,597			—			(263,597		)	263,597
Distributions to partners/owners	(122,097		)	—		(122,097		)	(6,545		)	128,642			(122,097		)
Other, net	—			—		(5,476		)	(2,320		)	3,312			(4,484		)
Net cash provided by (used in) financing activities	394,643			—		136,024			(8,865		)	(131,643		)	390,159
Net (decrease) increase in cash and cash equivalents	10			—		4,648			919			—			5,577
Cash and cash equivalents at beginning of period	10			—		11,214			58			—			11,282
Cash and cash equivalents at end of period	$	20		$	—	$	15,862		$	977		$	—		$	16,859

Unaudited Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 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	$	(91,453	)	$	—	$	304,617		$	17,700		$	(87,926	)	$	142,938
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(112,665		)	(4,037		)	—			(116,702		)
Cash distributions received from equity investees - return of investment	27,878			—		10,918			—			(27,878		)	10,918
Investments in equity investees	(169,421		)	—		(57,072		)	—			169,421			(57,072		)
Acquisitions	—			—		(205,576		)	—			—			(205,576		)
Repayments on loan to non-guarantor subsidiary	—			—		3,019			—			(3,019		)	—
Proceeds from asset sales	—			—		667			—			—			667
Other, net	—			—		(1,012		)	—			—			(1,012		)
Net cash used in investing activities	(141,543		)	—		(361,721		)	(4,037		)	138,524			(368,777		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	1,407,000			—		—			—			—			1,407,000
Repayments on senior secured credit facility	(1,333,300		)	—		—			—			—			(1,333,300		)
Proceeds from issuance of senior unsecured notes, including premium	101,000			—		—			—			—			101,000
Debt issuance costs	(7,109		)	—		—			—			—			(7,109		)
Issuance of common units for cash, net	169,421			—		169,421			—			(169,421		)	169,421
Distributions to partners/owners	(104,008		)	—		(104,008		)	(11,819		)	115,827			(104,008		)
Other, net	—			—		(2,738		)	(2,779		)	2,996			(2,521		)
Net cash provided by (used in) financing activities	233,004			—		62,675			(14,598		)	(50,598		)	230,483
Net increase (decrease) in cash and cash equivalents	8			—		5,571			(935		)	—			4,644
Cash and cash equivalents at beginning of period	3			—		9,182			1,632			—			10,817
Cash and cash equivalents at end of period	$	11		$	—	$	14,753		$	697		$	—		$	15,461