XML 67 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Information
 12 Months Ended
Dec. 31, 2012
Segment Reporting [Abstract]  
Segment Information

(14) Segment Information

 

Identification of operating segments is based principally upon regions served. The Partnership's reportable segments consist of the natural gas gathering, processing and transmission operations located in north Texas and in the Permian Basin in west Texas (NTX), the pipelines and processing plants located in Louisiana (LIG), the south Louisiana processing and NGL assets (PNGL) and rail, truck, pipeline, and barge facilities in the Ohio River Valley (ORV). The Partnership's sales are derived from external domestic customers.

 

The Partnership evaluates the performance of its operating segments based on operating revenues and segment profits. Corporate expenses include general partnership expenses associated with managing all reportable operating segments. Corporate assets consist principally of property and equipment, including software, for general corporate support, working capital, debt financing costs and its investment in HEP. Profit in the corporate segment for the years ended 2011 and 2010 includes the operating activity for intersegment eliminations.

 

Summarized financial information concerning the Partnership's reportable segments as consolidated into the Company's financial statements is shown in the following table.

 

    LIG NTX PNGL ORV Corporate Totals
                     
    (In thousands)
Year Ended December 31, 2012:             
 Sales to external customers  $ 561,389 $ 269,302 $ 717,123 $ 108,037 $ -  $ 1,655,851
 Sales to affiliates    225,542   96,177   145,569   -    (467,288)   -
 Purchased gas, NGLs and crude oil    (678,188)   (180,116)   (788,803)   (82,274)   467,288   (1,262,093)
 Operating expenses    (33,817)   (55,582)   (29,601)   (11,882)   -    (130,882)
 Segment profit  $ 74,926 $ 129,781 $ 44,288 $ 13,881 $ -  $ 262,876
 Gain (loss) on derivatives  $ 3,440 $ (4,405) $ (41) $ -  $ -  $ (1,006)
 Depreciation, amortization                  
   and impairments  $ (13,936) $ (83,492) $ (57,652) $ (4,861) $ (2,359) $ (162,300)
 Capital expenditures  $ 4,059 $ 45,235 $ 182,782 $ 3,893 $ 8,944 $ 244,913
 Identifiable assets  $ 279,755 $ 1,057,504 $ 632,962 $ 316,927 $ 139,327 $ 2,426,475
Year Ended December 31, 2011:                  
 Sales to external customers  $ 811,216 $ 332,026 $ 870,700 $ -  $ -  $ 2,013,942
 Sales to affiliates    128,130   100,527   40,185   -    (268,842)   -
 Purchased gas, NGLs and crude oil    (809,471)   (262,708)   (835,440)   -    268,842   (1,638,777)
 Operating expenses    (35,434)   (48,807)   (27,537)   -    -    (111,778)
 Segment profit  $ 94,441 $ 121,038 $ 47,908 $ -  $ -  $ 263,387
 Gain (loss) on derivatives  $ (6,145) $ (1,896) $ 265 $  $ -  $ (7,776)
 Depreciation, amortization and                  
  impairments $ (13,676) $ (76,535) $ (31,271) $ -  $ (3,876) $ (125,358)
 Capital expenditures  $ 2,820 $ 73,069 $ 25,618 $ -  $ 2,629 $ 104,136
 Identifiable assets  $ 305,359 $ 1,113,431 $ 460,865 $ -  $ 82,961 $ 1,962,616
Year Ended December 31, 2010                  
 Sales to external customers  $ 880,336 $ 309,771 $ 602,569 $ -  $ -  $ 1,792,676
 Sales to affiliates    82,688   89,752   -    -    (172,440)   -
 Purchased gas, NGLs and crude oil    (845,627)   (240,085)   (541,104)   -    172,440   (1,454,376)
 Operating expenses    (33,188)   (46,384)   (25,488)   -    -    (105,060)
 Segment profit  $ 84,209 $ 113,054 $ 35,977 $ -  $ -  $ 233,240
 Loss on derivatives  $ (3,664) $ (5,352) $ (84) $  $ -  $ (9,100)
 Depreciation, amortization                   
   and impairments $ (12,382) $ (64,458) $ (31,661) $ -  $ (4,435) $ (112,936)
 Capital expenditures  $ 9,930 $ 31,678 $ 5,871 $ -  $ 1,907 $ 49,386
 Identifiable assets  $ 331,261 $ 1,107,279 $ 493,143 $ -  $ 59,420 $ 1,991,103

 The following table reconciles the segment profits reported above to the operating income as reported in the consolidated
statements of operations (in thousands):
             
    Years ended December 31, 
    2012 2011 2010 
 Segment profits  $ 262,876 $ 263,387 $ 233,240 
 General and administrative expenses    (65,083)   (55,516)   (51,172) 
 Loss on derivatives    (1,006)   (7,776)   (9,100) 
 Gain (loss) on sale of property    342   (264)   13,881 
 Depreciation, amortization and impairments    (162,300)   (125,358)   (112,936) 
 Operating income $ 34,829 $ 74,473 $ 73,913