INVESTMENT IN NUSTAR ENERGY (Tables)

9 Months Ended

Sep. 30, 2015

Condensed consolidated financial information reported by NuStar Energy is presented below:



	September 30, 2015		December 31, 2014
	(Thousands of Dollars)
Balance Sheet Information:
Current assets	$	338,357	$	389,147
Property, plant and equipment, net	3,656,273		3,460,732
Goodwill	704,404		617,429
Other non-current assets	436,097		451,488
Total assets	$	5,135,131	$	4,918,796
Current liabilities	$	255,373	$	365,192
Long-term debt	3,109,359		2,749,452
Other non-current liabilities	116,499		87,942
Total liabilities	3,481,231		3,202,586
NuStar Energy partners’ equity	1,653,900		1,716,210
Total liabilities and partners’ equity	$	5,135,131	$	4,918,796

Condensed consolidated financial information reported by NuStar Energy is presented below:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(Thousands of Dollars)
Statement of Comprehensive Income Information:
Revenues	$	493,566	$	794,422	$	1,619,121	$	2,393,380
Operating income	$	100,994	$	95,098	$	292,680	$	265,555

Income from continuing operations	$	65,016	$	59,117	$	246,466	$	159,300
Income (loss) from discontinued operations, net of tax	—		2,831		774		(2,316		)
Net income	$	65,016	$	61,948	$	247,240	$	156,984

Our investment in NuStar Energy reconciles to NuStar Energy’s partners’ equity as follows:



	September 30, 2015			December 31, 2014
	(Thousands of Dollars)
NuStar Energy’s partners’ equity	$	1,653,900		$	1,716,210
NuStar GP Holdings’ ownership interest in NuStar Energy	15.0		%	14.9		%
NuStar GP Holdings’ share of NuStar Energy’s partners’ equity	248,085			255,715
Step-up in basis related to NuStar Energy’s assets and liabilities, including equity method goodwill, and other	71,940			71,267
Investment in NuStar Energy	$	320,025		$	326,982