Supplemental Financial Statement Information

3 Months Ended

Mar. 31, 2014

Supplemental Financial Statement Information

Supplemental Financial Statement Information

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION:

Following are the financial statements of the Parent Company, which are included to provide additional information with respect to the Parent Company’s financial position, results of operations and cash flows on a stand-alone basis:

BALANCE SHEETS

(unaudited)

	March 31, 2014			December 31, 2013
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	16		$	8
Accounts receivable from related companies	6			5
Other current assets	1			—
Total current assets	23			13
ADVANCES TO AND INVESTMENTS IN UNCONSOLIDATED AFFILIATES	4,448			3,841
INTANGIBLE ASSETS, net	13			14
GOODWILL	9			9
OTHER NON-CURRENT ASSETS, net	41			41
Total assets	$	4,534		$	3,918
LIABILITIES AND PARTNERS’ CAPITAL
CURRENT LIABILITIES:
Accounts payable to related companies	$	42		$	11
Interest payable	53			24
Accrued and other current liabilities	2			3
Total current liabilities	97			38
LONG-TERM DEBT, less current maturities	3,150			2,801
OTHER NON-CURRENT LIABILITIES	1			1
COMMITMENTS AND CONTINGENCIES
PARTNERS’ CAPITAL:
General Partner	(1		)	(3		)
Limited Partners:
Common Unitholders	1,271			1,066
Class D Units	10			6
Accumulated other comprehensive income	6			9
Total partners’ capital	1,286			1,078
Total liabilities and partners’ capital	$	4,534		$	3,918

STATEMENTS OF OPERATIONS

(unaudited)

	Three Months Ended March 31,
	2014			2013
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	$	(31	)	$	(6	)
OTHER INCOME (EXPENSE):
Interest expense, net of interest capitalized	(40		)	(64		)
Equity in earnings of unconsolidated affiliates	239			168
Other, net	—			(8		)
INCOME BEFORE INCOME TAXES	168			90
Income tax expense	—			—
NET INCOME	168			90
GENERAL PARTNER’S INTEREST IN NET INCOME	—			—
CLASS D UNITHOLDER’S INTEREST IN NET INCOME	1			—
LIMITED PARTNERS’ INTEREST IN NET INCOME	$	167		$	90

STATEMENTS OF CASH FLOWS

(unaudited)

	Three Months Ended March 31,
	2014			2013
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES	$	229		$	182
CASH FLOWS FROM INVESTING ACTIVITIES:
Contributions to unconsolidated affiliate	(7		)	—
Net cash used in investing activities	(7		)	—
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings	405			95
Principal payments on debt	(56		)	(65		)
Distributions to partners	(195		)	(179		)
Units repurchased under buyback program	(366		)	—
Debt issuance costs	(2		)	—
Net cash used in financing activities	(214		)	(149		)
INCREASE IN CASH AND CASH EQUIVALENTS	8			33
CASH AND CASH EQUIVALENTS, beginning of period	8			9
CASH AND CASH EQUIVALENTS, end of period	$	16		$	42