INVESTMENT IN NUSTAR ENERGY (Tables)

3 Months Ended

Mar. 31, 2016

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



	March 31, 2016		December 31, 2015
	(Thousands of Dollars)
Balance Sheet Information:
Current assets	$	333,573	$	333,851
Property, plant and equipment, net	3,686,687		3,683,571
Goodwill	696,637		696,637
Other non-current assets	378,652		411,466
Total assets	$	5,095,549	$	5,125,525
Current liabilities	$	272,790	$	332,213
Long-term debt	3,125,650		3,055,612
Other non-current liabilities	139,457		127,856
Total liabilities	3,537,897		3,515,681
NuStar Energy partners’ equity	1,557,652		1,609,844
Total liabilities and partners’ equity	$	5,095,549	$	5,125,525

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



	Three Months Ended March 31,
	2016		2015
	(Thousands of Dollars)
Statement of Comprehensive Income Information:
Revenues	$	405,703	$	554,944
Operating income	$	94,565	$	99,281

Income from continuing operations	$	57,401	$	127,125
Income from discontinued operations, net of tax	—		774
Net income	$	57,401	$	127,899

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



	March 31, 2016			December 31, 2015
	(Thousands of Dollars)
NuStar Energy’s partners’ equity	$	1,557,652		$	1,609,844
NuStar GP Holdings’ ownership interest in NuStar Energy	14.9		%	14.9		%
NuStar GP Holdings’ share of NuStar Energy’s partners’ equity	232,090			239,867
Step-up in basis related to NuStar Energy’s assets and liabilities, including equity method goodwill, and other	64,928			66,827
Investment in NuStar Energy	$	297,018		$	306,694