XML 31 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net loss $ (2,303.7) $ (10.4) $ (50.6)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, amortization and accretion 300.1 285.3 167.9
Amortization of debt-related deferred costs, discounts and premiums 8.9 8.5 9.2
Market adjustment on interest rate swaps (0.5) (2.7) (1.7)
Unit-based compensation charges 19.7 21.3 17.4
Gain (loss) on long-lived assets, net 821.2 1.9 (5.3)
Goodwill impairment 1,406.3 48.8 4.1
Loss on contingent consideration 0.0 8.6 31.4
Loss on modification/extinguishment of debt 20.0 0.0 0.0
Loss from unconsolidated affiliates, net, adjusted for cash distributions received 73.6 0.7 0.1
Deferred income taxes (3.6) (5.2) (2.8)
Other 0.7 0.0 (1.0)
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable 119.7 60.4 (39.9)
Inventory 2.0 26.9 (23.6)
Prepaid expenses and other current assets 1.8 (11.4) 11.2
Accounts payable, accrued expenses and other liabilities (128.0) (96.4) 44.2
Reimbursements of property, plant and equipment 73.3 21.5 0.0
Change in price risk management activities, net 29.2 (74.8) 27.7
Net cash provided by operating activities 440.7 283.0 188.3
Investing activities      
Acquisitions, net of cash acquired (Note 3) 0.0 (19.5) (555.6)
Purchases of property, plant and equipment (182.7) (424.0) (347.0)
Investment in unconsolidated affiliates (42.0) (108.6) (151.5)
Capital distributions from unconsolidated affiliates 9.3 0.0 0.0
Proceeds from sale of Tres Palacios 0.0 66.4 0.0
Proceeds from sale of assets 2.7 2.7 11.2
Net cash used in investing activities (212.7) (483.0) (1,042.9)
Financing activities      
Proceeds from the issuance of long-term debt 4,261.8 2,823.9 2,466.9
Principal payments on long-term debt (4,113.0) (2,696.0) (1,967.6)
Payments on capital leases (2.2) (3.2) (4.3)
Payments for debt-related deferred costs (17.3) (1.9) (33.1)
Financing fees paid for early debt redemption 13.6 0.0 0.0
Distributions to partners (171.5) (102.5) (68.4)
Distributions paid to non-controlling partners (234.2) (296.5) (204.5)
Distribution for additional interest in Crestwood Marcellus Midstream LLC 0.0 0.0 (129.0)
Net proceeds from issuance of Crestwood Midstream Partners LP common units 0.0 0.0 714.0
Net proceeds from issuance of preferred equity of subsidiary 0.0 53.9 96.1
Issuance of CMLP Class A preferred units (58.8)    
Taxes paid for unit-based compensation vesting (3.8) (3.9) (10.5)
Other (1.3) (0.7) 0.1
Net cash provided by (used in) financing activities (236.3) 203.6 859.7
Net change in cash (8.3) 3.6 5.1
Cash at beginning of period 8.8 5.2 0.1
Cash at end of period 0.5 8.8 5.2
Cash paid during the period for interest 129.0 114.4 64.9
Cash paid during the period for income taxes 4.7 6.6 2.5
Supplemental schedule of noncash investing and financing activities      
Net change to property, plant and equipment through accounts payable and accrued expenses (14.1) (40.6) (38.0)
Acquisitions, net of cash acquired:      
Current assets   0.5 409.6
Property, plant and equipment   13.5 2,487.2
Intangible assets   9.4 660.9
Goodwill   3.6 2,195.4
Other assets   0.0 32.1
Current liabilities   (2.7) (420.6)
Debt   (3.5) (1,079.3)
Invested capital of Crestwood Equity Partners LP, net of debt (Note 3)   0.0 (3,579.4)
Other liabilities   (1.3) (150.3)
Total acquisitions, net of cash acquired   19.5 555.6
Preferred Units, Class A      
Financing activities      
Net proceeds from issuance of preferred equity of subsidiary 58.8 430.5 0.0
CMLP      
Operating activities      
Net loss (1,410.6) 14.7 (12.4)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, amortization and accretion 278.5 255.4 139.4
Amortization of debt-related deferred costs, discounts and premiums 8.1 7.3 9.1
Unit-based compensation charges 18.1 18.1 15.8
Gain (loss) on long-lived assets, net 227.8 35.1 (5.3)
Goodwill impairment 1,149.1 48.8 4.1
Loss on contingent consideration 0.0 8.6 31.4
Loss on modification/extinguishment of debt 18.9 0.0 0.0
Loss from unconsolidated affiliates, net, adjusted for cash distributions received 73.6 0.7 0.1
Deferred income taxes (0.3) 0.7 0.0
Other 0.7 0.0 0.1
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable 119.4 60.4 (39.9)
Inventory 2.1 26.9 (23.6)
Prepaid expenses and other current assets 3.7 (11.9) 5.9
Accounts payable, accrued expenses and other liabilities (119.8) 25.8 101.3
Reimbursements of property, plant and equipment 73.3 21.5 0.0
Change in price risk management activities, net 29.2 (74.8) 27.7
Net cash provided by operating activities 471.8 437.3 253.7
Investing activities      
Acquisitions, net of cash acquired (Note 3) 0.0 (19.5) (561.5)
Purchases of property, plant and equipment (182.7) (421.7) (339.3)
Investment in unconsolidated affiliates (41.8) (144.4) (151.5)
Capital distributions from unconsolidated affiliates 9.3 0.0 0.0
Proceeds from sale of Tres Palacios 9.3    
Proceeds from sale of assets 2.7 2.7 11.2
Net cash used in investing activities (212.5) (582.9) (1,041.1)
Financing activities      
Proceeds from the issuance of long-term debt 3,490.1 2,089.9 2,072.8
Principal payments on long-term debt (2,960.9) (1,950.0) (1,634.5)
Payments on capital leases (2.2) (3.2) (4.3)
Payments for debt-related deferred costs (17.3) (0.1) (32.0)
Financing fees paid for early debt redemption (13.6) 0.0 0.0
Distributions to partners (819.5) (470.5) (419.7)
Distributions paid to non-controlling partners 0.0 0.0 5.5
Contributions from general partner 0.0 0.0 5.5
Net proceeds from issuance of Crestwood Midstream Partners LP common units 0.0 0.0 714.0
Net proceeds from issuance of preferred equity of subsidiary 0.0 53.9 96.1
Issuance of CMLP Class A preferred units 58.8 430.5  
Taxes paid for unit-based compensation vesting (2.1) (1.6) (5.5)
Other (0.1) (0.8) 0.0
Net cash provided by (used in) financing activities (266.8) 148.1 792.4
Net change in cash (7.5) 2.5 5.0
Cash at beginning of period 7.6 5.1 0.1
Cash at end of period 0.1 7.6 5.1
Cash paid during the period for interest 118.2 96.9 56.7
Cash paid during the period for income taxes 0.6 0.4 0.0
Supplemental schedule of noncash investing and financing activities      
Net change to property, plant and equipment through accounts payable and accrued expenses (14.1) (40.6) (30.5)
Acquisitions, net of cash acquired:      
Current assets   0.5 240.0
Property, plant and equipment   13.5 2,076.8
Intangible assets   9.4 519.4
Goodwill   3.6 1,583.2
Other assets   0.0 22.3
Current liabilities   (2.7) (243.9)
Debt   (3.5) (745.0)
Invested capital of Crestwood Equity Partners LP, net of debt (Note 3)   0.0 (2,882.3)
Other liabilities   (1.3) (9.0)
Total acquisitions, net of cash acquired   19.5 561.5
CMLP | Preferred Units, Class A      
Financing activities      
Issuance of CMLP Class A preferred units $ 58.8 $ 430.5 $ 0.0