Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet

Crestwood Midstream Partners LP
Condensed Consolidating Balance Sheet
September 30, 2017
(in millions)
	Parent		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash	$	1.1	$	—	$	—	$	—		$	1.1
Accounts receivable	—		341.0		3.7		—			344.7
Inventory	—		92.9		—		—			92.9
Other current assets	—		13.0		—		—			13.0
Total current assets	1.1		446.9		3.7		—			451.7
Property, plant and equipment, net	—		2,242.2		—		—			2,242.2
Goodwill and intangible assets, net	—		814.0		—		—			814.0
Investment in consolidated affiliates	4,025.8		—		—		(4,025.8		)	—
Investment in unconsolidated affiliates	—		—		1,198.5		—			1,198.5
Other assets	—		2.6		—		—			2.6
Total assets	$	4,026.9	$	3,505.7	$	1,202.2	$	(4,025.8	)	$	4,709.0
Liabilities and partners' capital
Current liabilities:
Accounts payable	$	—	$	310.0	$	—	$	—		$	310.0
Other current liabilities	39.9		125.4		—		—			165.3
Total current liabilities	39.9		435.4		—		—			475.3
Long-term liabilities:
Long-term debt, less current portion	1,614.6		0.8		—		—			1,615.4
Other long-term liabilities	—		45.3		—		—			45.3
Deferred income taxes	—		0.7		—		—			0.7
Partners' capital	2,372.4		3,023.5		1,002.3		(4,025.8		)	2,372.4
Interest of non-controlling partners in subsidiaries	—		—		199.9		—			199.9
Total partners' capital	2,372.4		3,023.5		1,202.2		(4,025.8		)	2,572.3
Total liabilities and partners' capital	$	4,026.9	$	3,505.7	$	1,202.2	$	(4,025.8	)	$	4,709.0

Crestwood Midstream Partners LP
Condensed Consolidating Balance Sheet
December 31, 2016
(in millions)
	Parent		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash	$	1.3	$	—	$	—	$	—		$	1.3
Accounts receivable	—		289.3		0.5		—			289.8
Inventory	—		66.0		—		—			66.0
Other current assets	—		16.0		—		—			16.0
Total current assets	1.3		371.3		0.5		—			373.1
Property, plant and equipment, net	—		2,298.4		—		—			2,298.4
Goodwill and intangible assets, net	—		851.9		—		—			851.9
Investment in consolidated affiliates	4,093.7		—		—		(4,093.7		)	—
Investment in unconsolidated affiliates	—		—		1,115.4		—			1,115.4
Other assets	—		1.8		—		—			1.8
Total assets	$	4,095.0	$	3,523.4	$	1,115.9	$	(4,093.7	)	$	4,640.6
Liabilities and partners' capital
Current liabilities:
Accounts payable	$	—	$	214.5	$	—	$	—		$	214.5
Other current liabilities	23.1		94.4		—		—			117.5
Total current liabilities	23.1		308.9		—		—			332.0
Long-term liabilities:
Long-term debt, less current portion	1,521.2		1.5		—		—			1,522.7
Other long-term liabilities	—		42.0		—		—			42.0
Deferred income taxes	—		0.7		—		—			0.7
Partners' capital	2,550.7		3,170.3		923.4		(4,093.7		)	2,550.7
Interest of non-controlling partners in subsidiaries	—		—		192.5		—			192.5
Total partners' capital	2,550.7		3,170.3		1,115.9		(4,093.7		)	2,743.2
Total liabilities and partners' capital	$	4,095.0	$	3,523.4	$	1,115.9	$	(4,093.7	)	$	4,640.6

Condensed Income Statement

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Operations
Nine Months Ended September 30, 2016
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations		Consolidated
Revenues	$	—		$	1,725.5		$	—	$	—	$	1,725.5
Costs of product/services sold	—			1,280.1			—		—		1,280.1
Expenses:
Operations and maintenance	—			116.7			—		—		116.7
General and administrative	54.2			13.3			—		—		67.5
Depreciation, amortization and accretion	—			185.2			—		—		185.2
	54.2			315.2			—		—		369.4
Other operating expense:
Loss on long-lived assets, net	—			(34.8		)	—		—		(34.8		)
Goodwill Impairment	—			(109.7		)	—		—		(109.7		)
Operating loss	(54.2		)	(14.3		)	—		—		(68.5		)
Earnings from unconsolidated affiliates, net	—			—			26.1		—		26.1
Interest and debt expense, net	(97.9		)	—			—		—		(97.9		)
Gain on modification/extinguishment of debt	10.0			—			—		—		10.0
Equity in net income (loss) of subsidiaries	(6.2		)	—			—		6.2		—
Net income (loss)	(148.3		)	(14.3		)	26.1		6.2		(130.3		)
Net income attributable to non-controlling partners in subsidiaries	—			—			18.0		—		18.0
Net income (loss) attributable to Crestwood Midstream Partners LP	$	(148.3	)	$	(14.3	)	$	8.1	$	6.2	$	(148.3	)

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Operations
Three Months Ended September 30, 2017
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
Revenues	$	—		$	955.6		$	—	$	—		$	955.6
Costs of product/services sold	—			858.5			—		—			858.5
Expenses:
Operations and maintenance	—			35.5			—		—			35.5
General and administrative	15.2			6.2			—		—			21.4
Depreciation, amortization and accretion	—			50.9			—		—			50.9
	15.2			92.6			—		—			107.8
Other operating expense:
Loss on long-lived assets, net	—			(6.3		)	—		—			(6.3		)
Operating loss	(15.2		)	(1.8		)	—		—			(17.0		)
Earnings from unconsolidated affiliates, net	—			—			11.5		—			11.5
Interest and debt expense, net	(24.2		)	—			—		—			(24.2		)
Equity in net income (loss) of subsidiaries	3.2			—			—		(3.2		)	—
Income (loss) before income taxes	(36.2		)	(1.8		)	11.5		(3.2		)	(29.7		)
Provision for income taxes	—			(0.1		)	—		—			(0.1		)
Net income (loss)	(36.2		)	(1.9		)	11.5		(3.2		)	(29.8		)
Net income attributable to non-controlling partners in subsidiaries	—			—			6.4		—			6.4
Net income (loss) attributable to Crestwood Midstream Partners LP	$	(36.2	)	$	(1.9	)	$	5.1	$	(3.2	)	$	(36.2	)

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Operations
Three Months Ended September 30, 2016
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
Revenues	$	—		$	587.6		$	—	$	—		$	587.6
Costs of product/services sold	—			466.7			—		—			466.7
Expenses:
Operations and maintenance	—			33.6			—		—			33.6
General and administrative	13.3			4.0			—		—			17.3
Depreciation, amortization and accretion	—			53.2			—		—			53.2
	13.3			90.8			—		—			104.1
Other operating expense:
Loss on long-lived assets, net	—			(2.1		)	—		—			(2.1		)
Operating income (loss)	(13.3		)	28.0			—		—			14.7
Earnings from unconsolidated affiliates, net	—			—			13.4		—			13.4
Interest and debt expense, net	(27.5		)	—			—		—			(27.5		)
Equity in net income (loss) of subsidiaries	35.3			—			—		(35.3		)	—
Net income (loss)	(5.5		)	28.0			13.4		(35.3		)	0.6
Net income attributable to non-controlling partners in subsidiaries	—			—			6.1		—			6.1
Net income (loss) attributable to Crestwood Midstream Partners LP	(5.5		)	28.0			7.3		(35.3		)	(5.5		)

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Operations
Nine Months Ended September 30, 2017
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
Revenues	$	—		$	2,634.0		$	—	$	—		$	2,634.0
Costs of product/services sold	—			2,271.6			—		—			2,271.6
Expenses:
Operations and maintenance	—			103.4			—		—			103.4
General and administrative	50.1			18.9			—		—			69.0
Depreciation, amortization and accretion	—			153.5			—		—			153.5
	50.1			275.8			—		—			325.9
Other operating expense:
Loss on long-lived assets, net	—			(6.3		)	—		—			(6.3		)
Operating income (loss)	(50.1		)	80.3			—		—			30.2
Earnings from unconsolidated affiliates, net	—			—			29.2		—			29.2
Interest and debt expense, net	(74.8		)	—			—		—			(74.8		)
Loss on modification/extinguishment of debt	(37.7		)	—			—		—			(37.7		)
Equity in net income (loss) of subsidiaries	90.7			—			—		(90.7		)	—
Net income (loss)	(71.9		)	80.3			29.2		(90.7		)	(53.1		)
Net income attributable to non-controlling partners in subsidiaries	—			—			18.8		—			18.8
Net income (loss) attributable to Crestwood Midstream Partners LP	$	(71.9	)	$	80.3		$	10.4	$	(90.7	)	$	(71.9	)

Condensed Cash Flow Statement

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2017
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:	$	(102.6	)	$	312.0		$	23.5		$	—		$	232.9
Cash flows from investing activities:
Purchases of property, plant and equipment	(5.8		)	(128.6		)	—			—			(134.4		)
Investment in unconsolidated affiliates	—			—			(46.5		)	—			(46.5		)
Capital distributions from unconsolidated affiliates	—			—			35.3			—			35.3
Net proceeds from sale of assets	—			1.3			—			—			1.3
Capital distributions from consolidated affiliates	0.9			—			—			(0.9		)	—
Net cash used in investing activities	(4.9		)	(127.3		)	(11.2		)	(0.9		)	(144.3		)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	2,209.8			—			—			—			2,209.8
Payments on long-term debt	(2,157.9		)	(1.3		)	—			—			(2,159.2		)
Payments on capital leases	—			(2.2		)	—			—			(2.2		)
Payments for debt-related deferred costs	(1.0		)	—			—			—			(1.0		)
Distributions paid	(119.5		)	—			(11.4		)	—			(130.9		)
Distributions to parent	—			—			(0.9		)	0.9			—
Taxes paid for unit-based compensation vesting	—			(5.3		)	—			—			(5.3		)
Change in intercompany balances	175.9			(175.9		)	—			—			—
Net cash provided by (used in) financing activities	107.3			(184.7		)	(12.3		)	0.9			(88.8		)
Net change in cash	(0.2		)	—			—			—			(0.2		)
Cash at beginning of period	1.3			—			—			—			1.3
Cash at end of period	$	1.1		$	—		$	—		$	—		$	1.1

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2016
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:	$	(140.4	)	$	371.3		$	19.9		$	—		$	250.8
Cash flows from investing activities:
Purchases of property, plant and equipment	(1.6		)	(77.7		)	—			—			(79.3		)
Investment in unconsolidated affiliates	—			—			(6.2		)	—			(6.2		)
Capital distributions from unconsolidated affiliates	—			—			9.2			—			9.2
Net proceeds from sale of assets	—			943.1			—			—			943.1
Capital distributions from consolidated affiliates	11.5			—			—			(11.5		)	—
Net cash provided by (used in) investing activities	9.9			865.4			3.0			(11.5		)	866.8
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	1,364.0			—			—			—			1,364.0
Payments on long-term debt	(2,278.4		)	(0.8		)	—			—			(2,279.2		)
Payments on capital leases	—			(1.5		)	—			—			(1.5		)
Payments for debt-related deferred costs	(3.4		)	—			—			—			(3.4		)
Distributions paid	(185.0		)	—			(11.4		)	—			(196.4		)
Distributions to parent	—			—			(11.5		)	11.5			—
Taxes paid for unit-based compensation vesting	—			(0.8		)	—			—			(0.8		)
Change in intercompany balances	1,233.7			(1,233.7		)	—			—			—
Other	—			0.1			—			—			0.1
Net cash provided by (used in) financing activities	130.9			(1,236.7		)	(22.9		)	11.5			(1,117.2		)
Net change in cash	0.4			—			—			—			0.4
Cash at beginning of period	0.1			—			—			—			0.1
Cash at end of period	$	0.5		$	—		$	—		$	—		$	0.5