Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 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

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

Condensed Consolidating Statement Of Operations

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

Condensed Consolidating Statements Of Cash Flows

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