INVESTMENT IN NUSTAR ENERGY (Tables)

6 Months Ended

Jun. 30, 2016

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



	June 30, 2016		December 31, 2015
	(Thousands of Dollars)
Balance Sheet Information:
Current assets	$	313,158	$	333,851
Property, plant and equipment, net	3,674,372		3,683,571
Goodwill	696,637		696,637
Other non-current assets	371,052		411,466
Total assets	$	5,055,219	$	5,125,525
Current liabilities	$	194,276	$	332,213
Long-term debt	3,205,693		3,055,612
Other non-current liabilities	165,355		127,856
Total liabilities	3,565,324		3,515,681
NuStar Energy partners’ equity	1,489,895		1,609,844
Total liabilities and partners’ equity	$	5,055,219	$	5,125,525

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



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
	(Thousands of Dollars)
Statement of Comprehensive Income Information:
Revenues	$	437,804	$	570,611	$	843,507	$	1,125,555
Operating income	$	91,217	$	92,405	$	185,782	$	191,686

Income from continuing operations	$	52,517	$	54,325	$	109,918	$	181,450
Income from discontinued operations, net of tax	—		—		—		774
Net income	$	52,517	$	54,325	$	109,918	$	182,224

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



	June 30, 2016			December 31, 2015
	(Thousands of Dollars)
NuStar Energy’s partners’ equity	$	1,489,895		$	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	221,994			239,867
Step-up in basis related to NuStar Energy’s assets and liabilities, including equity method goodwill, and other	63,886			66,827
Investment in NuStar Energy	$	285,880		$	306,694