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Condensed Consolidating Financial Information (Tables)
12 Months Ended
Dec. 31, 2016
Condensed Consolidating Financial Information [Abstract]  
Condensed Consolidating Financial Statements
The following is condensed consolidating financial information for Genesis Energy, L.P. and subsidiary guarantors:




Condensed Consolidating Balance Sheet
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
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
$
6

 
$
—

 
$
6,360

 
$
663

 
$
—

 
$
7,029

Other current assets
50

 
—

 
340,555

 
12,237

 
(302
)
 
352,540

Total current assets
56

 
—

 
346,915

 
12,900

 
(302
)
 
359,569

Fixed Assets, at cost
—

 
—

 
4,685,811

 
77,585

 
—

 
4,763,396

Less: Accumulated depreciation
—

 
—

 
(524,315
)
 
(24,217
)
 
—

 
(548,532
)
Net fixed assets
—

 
—

 
4,161,496

 
53,368

 
—

 
4,214,864

Goodwill
—

 
—

 
325,046

 
—

 
—

 
325,046

Other assets, net
10,696

 
—

 
390,214

 
133,980

 
(140,533
)
 
394,357

Advances to affiliates
2,650,930

 
—

 
—

 
73,295

 
(2,724,225
)
 
—

Equity investees and other investments
—

 
—

 
408,756

 
—

 
—

 
408,756

Investments in subsidiaries
2,594,882

 
—

 
80,735

 
—

 
(2,675,617
)
 
—

Total assets
$
5,256,564

 
$
—

 
$
5,713,162

 
$
273,543

 
$
(5,540,677
)
 
$
5,702,592

LIABILITIES AND PARTNERS’ CAPITAL
 
 
 
 
 
 
 
 
 
 
 
Current liabilities
$
34,864

 
$
—

 
$
211,591

 
$
14,505

 
$
(157
)
 
$
260,803

Senior secured credit facilities
1,278,200

 
—

 
—

 
—

 
—

 
1,278,200

Senior unsecured notes
1,813,169

 
—

 
—

 
—

 
—

 
1,813,169

Deferred tax liabilities
—

 
—

 
25,889

 
—

 
—

 
25,889

Advances from affiliates
—

 
—

 
2,724,224

 
—

 
(2,724,224
)
 
—

Other liabilities
—

 
—

 
165,266

 
179,592

 
(140,377
)
 
204,481

Total liabilities
3,126,233

 
—

 
3,126,970

 
194,097

 
(2,864,758
)
 
3,582,542

Partners’ capital, common units
2,130,331

 
—

 
2,586,192

 
89,727

 
(2,675,919
)
 
2,130,331

Noncontrolling interests
—

 
—

 
—

 
(10,281
)
 
—

 
(10,281
)
Total liabilities and partners’ capital
$
5,256,564

 
$
—

 
$
5,713,162

 
$
273,543

 
$
(5,540,677
)
 
$
5,702,592





Condensed Consolidating Balance Sheet
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
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
$
6

 
$
—

 
$
8,288

 
$
2,601

 
$
—

 
$
10,895

Other current assets
50

 
—

 
285,313

 
10,422

 
(364
)
 
295,421

Total current assets
56

 
—

 
293,601

 
13,023

 
(364
)
 
306,316

Fixed Assets, at cost
—

 
—

 
4,232,641

 
77,585

 
—

 
4,310,226

Less: Accumulated depreciation
—

 
—

 
(356,530
)
 
(21,717
)
 
—

 
(378,247
)
Net fixed assets
—

 
—

 
3,876,111

 
55,868

 
—

 
3,931,979

Goodwill
—

 
—

 
325,046

 
—

 
—

 
325,046

Other assets, net
13,140

 
—

 
394,294

 
140,409

 
(125,977
)
 
421,866

Advances to affiliates
2,619,493

 
—

 
—

 
47,034

 
(2,666,527
)
 
—

Equity investees and other investments
—

 
—

 
474,392

 
—

 
—

 
474,392

Investments in subsidiaries
2,353,804

 
—

 
90,741

 
—

 
(2,444,545
)
 
—

Total assets
$
4,986,493


$
—


$
5,454,185

 
$
256,334

 
$
(5,237,413
)
 
$
5,459,599

LIABILITIES AND PARTNERS’ CAPITAL
 
 
 
 
 
 
 
 
 
 
 
Current liabilities
$
35,338

 
$
—

 
$
267,294

 
$
—

 
$
(496
)
 
$
302,136

Senior secured credit facilities
1,115,000

 
—

 
—

 
—

 
—

 
1,115,000

Senior unsecured notes
1,807,054

 
—

 
—

 
—

 
—

 
1,807,054

Deferred tax liabilities
—

 
—

 
22,586

 
—

 
—

 
22,586

Advances from affiliates
—

 
—

 
2,666,527

 
—

 
(2,666,527
)
 
—

Other liabilities
—

 
—

 
150,877

 
167,006

 
(125,811
)
 
192,072

Total liabilities
2,957,392

 
—

 
3,107,284

 
167,006

 
(2,792,834
)
 
3,438,848

Partners' capital
2,029,101

 
—

 
2,346,901

 
97,678

 
(2,444,579
)
 
2,029,101

Noncontrolling interests
—

 
—

 
—

 
(8,350
)
 
—

 
(8,350
)
Total liabilities and partners’ capital
$
4,986,493

 
$
—

 
$
5,454,185

 
$
256,334

 
$
(5,237,413
)
 
$
5,459,599


Condensed Consolidating Statement of Operations
Year Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
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:
 
 
 
 
 
 
 
 
 
 
 
Offshore pipeline transportation services
$
—

 
$
—

 
$
334,679

 
$
—

 
$
—

 
$
334,679

Refinery services
—

 
—

 
171,389

 
7,873

 
(7,759
)
 
171,503

Marine transportation
—

 
—

 
213,021

 
—

 
—

 
213,021

Supply and logistics
—

 
—

 
972,794

 
20,496

 
—

 
993,290

Total revenues
—

 
—

 
1,691,883

 
28,369

 
(7,759
)
 
1,712,493

COSTS AND EXPENSES:
 
 
 
 
 
 
 
 
 
 
 
Supply and logistics costs
—

 
—

 
923,567

 
1,060

 
—

 
924,627

Marine transportation costs
—

 
—

 
142,551

 
—

 
—

 
142,551

Refinery services operating costs
—

 
—

 
90,711

 
8,491

 
(7,759
)
 
91,443

Offshore pipeline transportation operating costs
—

 
—

 
68,791

 
10,833

 
—

 
79,624

General and administrative
—

 
—

 
45,625

 
—

 
—

 
45,625

Depreciation and amortization
—

 
—

 
219,696

 
2,500

 
—

 
222,196

Total costs and expenses
—

 
—

 
1,490,941

 
22,884

 
(7,759
)
 
1,506,066

OPERATING INCOME
—

 
—

 
200,942

 
5,485

 
—

 
206,427

Equity in earnings of equity investees
—

 
—

 
47,944

 
—

 
—

 
47,944

Equity in earnings of subsidiaries
253,048

 
—

 
(6,744
)
 
—

 
(246,304
)
 
—

Interest (expense) income, net
(139,799
)
 
—

 
14,407

 
(14,555
)
 
—

 
(139,947
)
Income before income taxes
113,249

 
—

 
256,549

 
(9,070
)
 
(246,304
)
 
114,424

Income tax expense
—

 
—

 
(3,337
)
 
(5
)
 
—

 
(3,342
)
NET INCOME
113,249

 
—

 
253,212

 
(9,075
)
 
(246,304
)
 
111,082

Net loss attributable to noncontrolling interest
—

 
—

 
—

 
2,167

 
—

 
2,167

NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.
$
113,249

 
$
—

 
$
253,212

 
$
(6,908
)
 
$
(246,304
)
 
$
113,249




Condensed Consolidating Statement of Operations
Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
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:
 
 
 
 
 
 
 
 
 
 
 
Offshore pipeline transportation services
$
—

 
$
—

 
$
137,681

 
$
2,549

 
$
—

 
$
140,230

Refinery services
—

 
—

 
175,132

 
11,942

 
(9,194
)
 
177,880

Marine transportation
—

 
—

 
238,757

 
—

 
—

 
238,757

Supply and logistics
—

 
—

 
1,665,917

 
23,745

 
—

 
1,689,662

Total revenues
—

 
—

 
2,217,487

 
38,236

 
(9,194
)
 
2,246,529

COSTS AND EXPENSES:
 
 
 
 
 
 
 
 
 
 
 
Supply and logistics costs
—

 
—

 
1,601,972

 
836

 
—

 
1,602,808

Marine transportation costs
—

 
—

 
135,200

 
—

 
—

 
135,200

Refinery services operating costs
—

 
—

 
94,241

 
11,759

 
(9,194
)
 
96,806

Offshore pipeline transportation operating costs
—

 
—

 
38,459

 
1,254

 
—

 
39,713

General and administrative
—

 
—

 
64,995

 
—

 
—

 
64,995

Depreciation and amortization
—

 
—

 
141,785

 
8,355

 
—

 
150,140

Total costs and expenses
—

 
—

 
2,076,652

 
22,204

 
(9,194
)
 
2,089,662

OPERATING INCOME
—

 
—

 
140,835

 
16,032

 
—

 
156,867

Equity in earnings of equity investees
—

 
—

 
54,450

 
—

 
—

 
54,450

Equity in earnings of subsidiaries
542,226

 
—

 
2,053

 
—

 
(544,279
)
 
—

Interest (expense) income, net
(100,494
)
 
—

 
15,042

 
(15,144
)
 
—

 
(100,596
)
Gain on basis step up on historical interest
—

 
—

 
332,380

 
—

 
—

 
332,380

Other income/(expense), net
(19,204
)
 
—

 
1,675

 
—

 
—

 
(17,529
)
Income before income taxes
422,528

 
—

 
546,435

 
888

 
(544,279
)
 
425,572

Income tax benefit (expense)
—

 
—

 
(4,036
)
 
49

 
—

 
(3,987
)
NET INCOME
422,528

 
—

 
542,399

 
937

 
(544,279
)
 
421,585

Net loss attributable to noncontrolling interest
—

 
—

 
—

 
943

 
—

 
943

NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.
$
422,528

 
$
—

 
$
542,399

 
$
1,880

 
$
(544,279
)
 
$
422,528


Condensed Consolidating Statement of Operations
Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
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:
 
 
 
 
 
 
 
 
 
 
 
Offshore pipeline transportation services
$
—

 
$
—

 
$
3,296

 
$
—

 
$
—

 
$
3,296

Refinery services
—

 
—

 
202,250

 
18,289

 
(13,138
)
 
207,401

Marine transportation
—

 
—

 
229,282

 
—

 
—

 
229,282

Supply and logistics
—

 
—

 
3,381,419

 
24,766

 
—

 
3,406,185

Total revenues
—

 
—

 
3,816,247

 
43,055

 
(13,138
)
 
3,846,164

COSTS AND EXPENSES:
 
 
 
 
 
 
 
 
 
 
 
Supply and logistics costs
—

 
—

 
3,305,691

 
857

 
—

 
3,306,548

Marine transportation costs
—

 
—

 
142,793

 
—

 
—

 
142,793

Refinery services operating costs
—

 
—

 
117,788

 
17,393

 
(13,780
)
 
121,401

Offshore pipeline transportation operating costs
—

 
—

 
1,271

 
—

 
—

 
1,271

General and administrative
—

 
—

 
50,692

 
—

 
—

 
50,692

Depreciation and amortization
—

 
—

 
88,368

 
2,540

 
—

 
90,908

Total costs and expenses
—

 
—

 
3,706,603

 
20,790

 
(13,780
)
 
3,713,613

OPERATING INCOME
—

 
—

 
109,644

 
22,265

 
642

 
132,551

Equity in earnings of equity investees
—

 
—

 
43,135

 
—

 
—

 
43,135

Equity in earnings of subsidiaries
172,828

 
—

 
6,952

 
—

 
(179,780
)
 
—

Interest (expense) income, net
(66,626
)
 
—

 
15,662

 
(15,675
)
 
—

 
(66,639
)
Income before income taxes
106,202

 
—

 
175,393

 
6,590

 
(179,138
)
 
109,047

Income tax expense
—

 
—

 
(3,030
)
 
185

 
—

 
(2,845
)
NET INCOME
$
106,202

 
$
—

 
$
172,363

 
$
6,775

 
$
(179,138
)
 
$
106,202
















Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
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
$
179,853

 
$
—

 
$
398,320

 
$
9,586

 
$
(289,421
)
 
$
298,338

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Payments to acquire fixed and intangible assets
—

 
—

 
(463,100
)
 
—

 
—

 
(463,100
)
Cash distributions received from equity investees - return of investment
—

 
—

 
21,353

 
—

 
—

 
21,353

Investments in equity investees
(298,020
)
 
—

 
—

 
—

 
298,020

 
—

Acquisitions
—

 
—

 
(25,394
)
 
—

 
—

 
(25,394
)
Intercompany transfers
(31,436
)
 
—

 
—

 
—

 
31,436

 
—

Repayments on loan to non-guarantor subsidiary
—

 
—

 
6,113

 
—

 
(6,113
)
 
—

Contributions in aid of construction costs
—

 
—

 
13,374

 
—

 
—

 
13,374

Proceeds from asset sales
—

 
—

 
3,609

 
—

 
—

 
3,609

Other, net
—

 
—

 
(151
)
 
—

 
—

 
(151
)
Net cash (used in) provided by investing activities
(329,456
)
 
—

 
(444,196
)
 
—

 
323,343

 
(450,309
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Borrowings on senior secured credit facility
1,115,800

 
—

 
—

 
—

 
—

 
1,115,800

Repayments on senior secured credit facility
(952,600
)
 
—

 
—

 
—

 
—

 
(952,600
)
Debt issuance costs
(1,578
)
 
—

 
—

 
—

 
—

 
(1,578
)
Intercompany transfers
—

 
—

 
57,701

 
(26,264
)
 
(31,437
)
 
—

Issuance of common units for cash, net
298,020

 
—

 
298,020

 
—

 
(298,020
)
 
298,020

Distributions to partners/owners
(310,039
)
 
—

 
(310,039
)
 
—

 
310,039

 
(310,039
)
Contributions from noncontrolling interest
—

 
—

 
—

 
236

 
—

 
236

Other, net
—

 
—

 
(1,734
)
 
14,504

 
(14,504
)
 
(1,734
)
Net cash provided by financing activities
149,603

 
—

 
43,948

 
(11,524
)
 
(33,922
)
 
148,105

Net decrease in cash and cash equivalents
—

 
—

 
(1,928
)
 
(1,938
)
 
—

 
(3,866
)
Cash and cash equivalents at beginning of period
6

 
—

 
8,288

 
2,601

 
—

 
10,895

Cash and cash equivalents at end of period
$
6

 
$
—

 
$
6,360

 
$
663

 
$
—

 
$
7,029



Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
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
$
(14,082
)
 
$
—

 
$
308,144

 
$
45,125

 
$
(49,651
)
 
$
289,536

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Payments to acquire fixed and intangible assets
—

 
—

 
(495,774
)
 
—

 
—

 
(495,774
)
Cash distributions received from equity investees - return of investment
186,026

 
—

 
25,645

 
—

 
(186,026
)
 
25,645

Investments in equity investees
(633,761
)
 
—

 
(3,045
)
 
—

 
633,761

 
(3,045
)
Acquisitions
—

 
—

 
(1,520,299
)
 
—

 
—

 
(1,520,299
)
Intercompany transfers
(1,240,973
)
 
—

 
—

 
—

 
1,240,973

 
—

Repayments on loan to non-guarantor subsidiary
—

 
—

 
5,524

 
—

 
(5,524
)
 
—

Contributions in aid of construction costs
—

 
—

 
3,179

 
—

 
—

 
3,179

Proceeds from assets sales
—

 
—

 
2,811

 
—

 
—

 
2,811

Other, net
—

 
—

 
(1,976
)
 
—

 
—

 
(1,976
)
Net cash (used in) provided by investing activities
(1,688,708
)
 
—

 
(1,983,935
)
 
—

 
1,683,184

 
(1,989,459
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Borrowings on senior secured credit facility
1,525,050

 
—

 
—

 
—

 
—

 
1,525,050

Repayments on senior secured credit facility
(960,450
)
 
—

 
—

 
—

 
—

 
(960,450
)
Proceeds from issuance of senior unsecured notes, including premium
1,139,718

 
—

 
—

 
—

 
—

 
1,139,718

Repayment of senior unsecured notes
(350,000
)
 
—

 
—

 
—

 
—

 
(350,000
)
Debt issuance costs
(28,901
)
 
—

 
—

 
—

 
—

 
(28,901
)
Intercompany transfers
—

 
—

 
1,299,830

 
(58,857
)
 
(1,240,973
)
 
—

Issuance of common units for cash, net
633,759

 
—

 
633,759

 
—

 
(633,759
)
 
633,759

Distributions to partners/owners
(256,389
)
 
—

 
(256,389
)
 
—

 
256,389

 
(256,389
)
Contributions (distributions) to (from) noncontrolling interest

—

 
—

 
(960
)
 
—

 
—

 
(960
)
Other, net
—

 
—

 
(471
)
 
15,190

 
(15,190
)
 
(471
)
Net cash provided by (used in) financing activities
1,702,787

 
—

 
1,675,769

 
(43,667
)
 
(1,633,533
)
 
1,701,356

Net increase (decrease) in cash and cash equivalents
(3
)
 
—

 
(22
)
 
1,458

 
—

 
1,433

Cash and cash equivalents at beginning of period
9

 
—

 
8,310

 
1,143

 
—

 
9,462

Cash and cash equivalents at end of period
$
6

 
$
—

 
$
8,288

 
$
2,601

 
$
—

 
$
10,895


Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
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
$
96,868

 
$
—

 
$
317,520

 
$
34,331

 
$
(157,665
)
 
$
291,054

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Payments to acquire fixed and intangible assets
—

 
—

 
(443,482
)
 
—

 
—

 
(443,482
)
Cash distributions received from equity investees - return of investment
42,755

 
—

 
18,363

 
—

 
(42,755
)
 
18,363

Investments in equity investees
(225,725
)
 
—

 
(40,926
)
 
—

 
225,725

 
(40,926
)
Acquisitions
—

 
—

 
(157,000
)
 
—

 
—

 
(157,000
)
Intercompany transfers
(244,876
)
 
—

 
—

 
—

 
244,876

 
—

Repayments on loan to non-guarantor subsidiary
—

 
—

 
4,993

 
—

 
(4,993
)
 
—

Proceeds from asset sales
—

 
—

 
272

 
—

 
—

 
272

Other, net
—

 
—

 
(1,214
)
 
—

 
—

 
(1,214
)
Net cash (used in) provided by investing activities
(427,846
)
 
—

 
(618,994
)
 
—

 
422,853

 
(623,987
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Borrowings on senior secured credit facility
1,839,900

 
—

 
—

 
—

 
—

 
1,839,900

Repayments on senior secured credit facility
(1,872,300
)
 
—

 
—

 
—

 
—

 
(1,872,300
)
Proceeds from issuance of senior unsecured notes
350,000

 
—

 
—

 
—

 
—

 
350,000

Debt issuance costs
(11,896
)
 
—

 
—

 
—

 
—

 
(11,896
)
Intercompany transfers
—

 
—

 
273,911

 
(29,035
)
 
(244,876
)
 
—

Issuance of ownership interests to partners for cash
225,725

 
—

 
225,725

 
—

 
(225,725
)
 
225,725

Distributions to partners/owners
(200,462
)
 
—

 
(200,462
)
 
—

 
200,463

 
(200,461
)
Other, net
—

 
—

 
2,560

 
(4,949
)
 
4,950

 
2,561

Net cash provided by (used in) financing activities
330,967

 
—

 
301,734

 
(33,984
)
 
(265,188
)
 
333,529

Net increase (decrease) in cash and cash equivalents
(11
)
 
—

 
260

 
347

 
—

 
596

Cash and cash equivalents at beginning of period
20

 
—

 
8,050

 
796

 
—

 
8,866

Cash and cash equivalents at end of period
$
9

 
$
—

 
$
8,310


$
1,143

 
$
—

 
$
9,462