Condensed Consolidating Financial Information

9 Months Ended

Sep. 30, 2011

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidating Financial Information

16. Condensed Consolidating Financial Information

The $250 million 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. See Note 7 for additional information regarding our consolidated debt obligations.

As a result of our IDR Restructuring on December 28, 2010 (see Note 1), each guarantor subsidiary and the subsidiary co-issuer are 100% owned, directly or indirectly, by Genesis Energy, L.P.

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

	September 30, 2011
	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	$	2	$	—	$	3,654		$	720		$	—		$	4,376
Other current assets		569,326		—		327,727			29,607			(587,673	)		338,987
Total current assets		569,328		—		331,381			30,327			(587,673	)		343,363
Fixed Assets, at cost		—		—		436,290			75,609			—			511,899
Less: Accumulated depreciation		—		—		(108,180	)		(8,754	)		—			(116,934	)
Net fixed assets		—		—		328,110			66,855			—			394,965
Goodwill		—		—		325,046			—			—			325,046
Other assets, net		15,611		—		285,810			163,435			(168,730	)		296,126
Equity investees and other investments		—		—		331,703			—			—			331,703
Investments in subsidiaries		855,635		—		88,411			—			(944,046	)		—
Total assets	$	1,440,574	$	—	$	1,690,461		$	260,617		$	(1,700,449	)	$	1,691,203
LIABILITIES AND PARTNERS' CAPITAL
Current liabilities	$	7,032	$	—	$	814,069		$	3,806		$	(587,345	)	$	237,562
Senior secured credit facilities		367,900		—		—			—			—			367,900
Senior unsecured notes		250,000		—		—			—			—			250,000
Deferred tax liabilities		—		—		13,715			—			—			13,715
Other liabilities		—		—		6,384			168,541			(168,541	)		6,384
Total liabilities		624,932		—		834,168			172,347			(755,886	)		875,561
Partners' capital		815,642		—		856,293			88,270			(944,563	)		815,642
Total liabilities and partners' capital	$	1,440,574	$	—	$	1,690,461		$	260,617		$	(1,700,449	)	$	1,691,203

	December 31, 2010
	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	$	1	$	—	$	5,082		$	679		$	—		$	5,762
Other current assets		584,967		—		245,240			20,620			(604,051	)		246,776
Total current assets		584,968		—		250,322			21,299			(604,051	)		252,538
Fixed Assets, at cost		—		—		297,832			75,507			—			373,339
Less: Accumulated depreciation		—		—		(101,472	)		(6,811	)		—			(108,283	)
Net fixed assets		—		—		196,360			68,696			—			265,056
Goodwill		—		—		325,046			—			—			325,046
Other assets, net		14,695		—		310,808			166,616			(171,458	)		320,661
Equity investees and other investments		—		—		343,434			—			—			343,434
Investments in subsidiaries		682,641		—		83,323			—			(765,964	)		—
Total assets	$	1,282,304	$	—	$	1,509,293		$	256,611		$	(1,541,473	)	$	1,506,735
LIABILITIES AND PARTNERS' CAPITAL
Current liabilities	$	3,040	$	—	$	805,381		$	2,172		$	(603,879	)	$	206,714
Senior secured credit facilities		360,000		—		—			—			—			360,000
Senior unsecured notes		250,000		—		—			—			—			250,000
Deferred tax liabilities		—		—		15,193			—			—			15,193
Other liabilities		—		—		5,564			171,266			(171,266	)		5,564
Total liabilities		613,040		—		826,138			173,438			(775,145	)		837,471
Partners' capital		669,264		—		683,155			83,173			(766,328	)		669,264
Total liabilities and partners' capital	$	1,282,304	$	—	$	1,509,293		$	256,611		$	(1,541,473	)	$	1,506,735

	Three Months Ended September 30, 2011
	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	$	—		$	—	$	765,714		$	—		$	—		$	765,714
Refinery services		—			—		48,700			3,805			(4,113	)		48,392
Pipeline transportation services		—			—		9,388			6,706			—			16,094
Total revenues		—			—		823,802			10,511			(4,113	)		830,200
COSTS AND EXPENSES:
Supply and logistics costs		—			—		743,833			—			—			743,833
Refinery services operating costs		—			—		30,448			3,612			(3,924)			30,136
Pipeline transportation operating costs		—			—		3,818			170			—			3,988
General and administrative		—			—		8,905			—			—			8,905
Depreciation and amortization		—			—		13,944			649			—			14,593
Net loss on disposal of surplus assets		—			—		113			—			—			113
Total costs and expenses		—			—		801,061			4,431			(3,924	)		801,568
OPERATING INCOME		—			—		22,741			6,080			(189	)		28,632
Equity in losses of joint ventures		—			—		(412	)		—			—			(412	)
Equity in earnings of subsidiaries		28,032			—		1,945			—			(29,977	)		—
Interest (expense) income		(8,944	)		—		4,226			(4,242	)		—			(8,960	)
Income before income taxes		19,088			—		28,500			1,838			(30,166	)		19,260
Income tax (expense) benefit		—			—		(233	)		61			—			(172	)
NET INCOME		19,088			—		28,267			1,899			(30,166	)		19,088
Net loss attributable to noncontrolling interests		—			—		—			—			—			—
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	19,088		$	—	$	28,267		$	1,899		$	(30,166	)	$	19,088

	Three Months Ended September 30, 2010
	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	$	—		$	—	$	523,488		$	—		$	—		$	523,488
Refinery services		—			—		36,871			4,543			(2,977	)		38,437
Pipeline transportation services		—			—		7,630			6,457			—			14,087
Total revenues		—			—		567,989			11,000			(2,977	)		576,012
COSTS AND EXPENSES:
Supply and logistics costs		—			—		516,014			—			—			516,014
Refinery services operating costs		—			—		21,616			3,701			(3,066)			22,251
Pipeline transportation operating costs		—			—		3,410			87			—			3,497
General and administrative		—			—		10,583			—			—			10,583
Depreciation and amortization		—			—		12,826			651			—			13,477
Net loss on disposal of surplus assets		—			—		7			—			—			7
Total costs and expenses		—			—		564,456			4,439			(3,066)			565,829
OPERATING INCOME		—			—		3,533			6,561			89			10,183
Equity in earnings of joint ventures		—			—		377			—			—			377
Equity in earnings of subsidiaries		9,126			—		2,231			—			(11,357	)		—
Interest (expense) income		(4,058	)		—		1,840			(4,324	)		—			(6,542	)
Income before income taxes		5,068			—		7,981			2,237			(11,268	)		4,018
Income tax expense		—			—		(101	)		(54	)		—			(155	)
NET INCOME		5,068			—		7,880			2,183			(11,268	)		3,863
Net loss attributable to noncontrolling interests		—			—		1,206			—			(1)			1,205
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	5,068		$	—	$	9,086		$	2,183		$	(11,269	)	$	5,068

	Nine Months Ended September 30, 2011
	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	$	—		$	—	$	2,091,854		$	—		$	—		$	2,091,854
Refinery services		—			—		142,992			12,953			(10,644	)		145,301
Pipeline transportation services		—			—		26,292			19,341			—			45,633
Total revenues		—			—		2,261,138			32,294			(10,644	)		2,282,788
COSTS AND EXPENSES:
Supply and logistics costs		—			—		2,044,554			—			—			2,044,554
Refinery services operating costs		—			—		88,641			11,836			(10,491)			89,986
Pipeline transportation operating costs		—			—		11,937			477			—			12,414
General and administrative		—			—		25,339			—			—			25,339
Depreciation and amortization		—			—		40,802			1,947			—			42,749
Net loss on disposal of surplus assets		—			—		351			—			—			351
Total costs and expenses		—			—		2,211,624			14,260			(10,491)			2,215,393
OPERATING INCOME		—			—		49,514			18,034			(153	)		67,395
Equity in earnings of joint ventures		—			—		3,377			—			—			3,377
Equity in earnings of subsidiaries		70,092			—		5,238			—			(75,330	)		—
Interest (expense) income		(26,616	)		—		12,726			(12,780	)		—			(26,670	)
Income before income taxes		43,476			—		70,855			5,254			(75,483	)		44,102
Income tax expense		—			—		(467	)		(159	)		—			(626	)
NET INCOME		43,476			—		70,388			5,095			(75,483	)		43,476
Net loss attributable to noncontrolling interests		—			—		—			—			—			—
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	43,476		$	—	$	70,388		$	5,095		$	(75,483	)	$	43,476

	Nine Months Ended September 30, 2010
	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	$	—		$	—	$	1,351,751		$	—		$	—		$	1,351,751
Refinery services		—			—		102,644			11,083			(7,567	)		106,160
Pipeline transportation services		—			—		21,893			19,277			—			41,170
Total revenues		—			—		1,476,288			30,360			(7,567	)		1,499,081
COSTS AND EXPENSES:
Supply and logistics costs		—			—		1,325,062			—			—			1,325,062
Refinery services operating costs		—			—		58,382			9,318			(7,432)			60,268
Pipeline transportation operating costs		—			—		10,631			408			—			11,039
General and administrative		—			—		23,678			—			—			23,678
Depreciation and amortization		—			—		38,542			1,947			—			40,489
Net loss on disposal of surplus assets		—			—		25			—			—			25
Total costs and expenses		—			—		1,456,320			11,673			(7,432)			1,460,561
OPERATING INCOME		—			—		19,968			18,687			(135	)		38,520
Equity in earnings of joint ventures		—			—		922			—			—			922
Equity in earnings of subsidiaries		30,249			—		5,406			—			(35,655	)		—
Interest (expense) income		(4,058	)		—		3,587			(13,035	)		—			(13,506	)
Income before income taxes		26,191			—		29,883			5,652			(35,790	)		25,936
Income tax expense		—			—		(1,433	)		(394	)		—			(1,827	)
NET INCOME		26,191			—		28,450			5,258			(35,790	)		24,109
Net loss attributable to noncontrolling interests		—			—		2,083			—			(1)			2,082
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	26,191		$	—	$	30,533		$	5,258		$	(35,791	)	$	26,191

	Nine Months Ended September 30, 2011
	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	$	(4,881	)	$	—	$	41,160		$	2,844		$	23		$	39,146
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets, including the acquisition of FMT assets		—			—		(158,549	)		(97	)		—			(158,646	)
Distributions from joint ventures—return of investment		82,067			—		8,577			—			(82,067	)		8,577
Investments in joint ventures and other investments		(184,969	)		—		(194	)		—			184,969			(194	)
Repayments on loan to non-guarantor subsidiary		—			—		2,729			—			(2,729	)		—
Other, net		—			—		4,573			—			—			4,573
Net cash used in investing activities		(102,902	)		—		(142,864	)		(97	)		100,173			(145,690	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Bank borrowings		571,700			—		—			—			—			571,700
Bank repayments		(563,800	)		—		—			—			—			(563,800	)
Credit facility issuance fees		(3,018	)		—		—			—			—			(3,018	)
Distributions to partners/owners		(82,067	)		—		(82,067	)		—			82,067			(82,067	)
Issuance of ownership interests to partners for cash		184,969			—		184,969			—			(184,969	)		184,969
Other, net		—			—		(2,626	)		(2,706	)		2,706			(2,626	)
Net cash provided by (used in) financing activities		107,784			—		100,276			(2,706	)		(100,196	)		105,158
Net increase (decrease) in cash and cash equivalents		1			—		(1,428	)		41			—			(1,386	)
Cash and cash equivalents at beginning of period		1			—		5,082			679			—			5,762
Cash and cash equivalents at end of period	$	2		$	—	$	3,654		$	720		$	—		$	4,376

	Nine Months Ended September 30, 2010
	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	$	(401,999	)	$	—	$	448,018		$	3,324		$	(15,269	)	$	34,074
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets		—			—		(8,771	)		(28	)		—			(8,799	)
Distributions from joint ventures—return of investment		36,264			—		308			—			(36,264	)		308
Investments in joint ventures and other investments		(1,326	)		—		—			—			1,326			—
Repayments on loan to non-guarantor subsidiary		—			—		2,465			—			(2,465	)		—
Other, net		—			—		756			—			—			756
Net cash provided by (used) in investing activities		34,938			—		(5,242	)		(28	)		(37,403	)		(7,735	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Bank borrowings		319,329			—		242,100			—			—			561,429
Bank repayments		(259,229	)		—		(243,100	)		—			—			(502,329	)
Transfer of senior secured credit facility to Parent		364,772					(364,772	)		—			—			—
Credit facility and senior unsecured notes issuance fees		(7,584	)		—		—			—			—			(7,584	)
Issuance of ownership interests to partners for cash		1,326			—		37			—			(1,326	)		37
Noncontrolling interests contributions, net of distributions		—			—		—			—			(5	)		(5	)
Distributions to partners/owners		(51,553	)		—		(51,558	)		—			51,558			(51,553	)
Acquisition of non-controlling interests in DG Marine		—					(26,271	)		—			—			(26,271	)
Other, net		—			—		(1,153	)		(2,445	)		2,445			(1,153	)
Net cash provided by (used in) financing activities		367,061			—		(444,717	)		(2,445	)		52,672			(27,429	)
Net (decrease) increase in cash and cash equivalents		—			—		(1,941	)		851			—			(1,090	)
Cash and cash equivalents at beginning of period		2			—		3,884			262			—			4,148
Cash and cash equivalents at end of period	$	2		$	—	$	1,943		$	1,113		$	—		$	3,058