XML 33 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities    
Net income $ 27,780 $ 21,289
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,588 14,154
Gain on sale of asset 0 (2,022)
Amortization of Deferred Charges 511 1,379
Amortization of restricted and performance units 820 1,123
Loss on early extinguishment of debt 7,677 0
(Increase) decrease in current assets:    
Accounts receivable – trade (302) 1,053
Accounts receivable – affiliates 615 539
Prepaid and other current assets 374 145
Increase (decrease) in current liabilities:    
Accounts payable – trade 2,568 (1,808)
Accounts payable – affiliates (3,894) 253
Accrued interest (8,463) (7,860)
Deferred revenue (4,857) 1,686
Accrued property taxes 725 33
Other current liabilities 304 531
Other, net (430) 354
Net cash provided by operating activities 39,016 30,849 [1]
Cash flows from investing activities    
Additions to properties and equipment (20,604) (6,645)
Proceeds from sale of assets 0 2,481
Distributions in excess of equity in earnings of SLC Pipeline 40 30
Net cash used for investing activities (20,564) (4,134)
Cash flows from financing activities    
Borrowings under credit agreement 421,300 57,000
Repayments of credit agreement borrowings (246,600) (110,000)
Proceeds from Issuance of Common Units 0 73,444
Redemption of senior notes (156,188) 0
Contribution from general partner 0 1,499
Distributions to HEP unitholders 37,342 32,709
Distributions to UNEV joint venture partners 750 0
Purchase of units for incentive grants (336) (2,719)
Deferred financing costs (9) 0
Other 0 (274)
Net cash used for financing activities (19,925) (13,759)
Cash and cash equivalents    
Increase (decrease) for the period (1,473) 12,956
Beginning of period 6,352 5,237
End of period $ 4,879 $ 18,193
[1] (1) Effective with fiscal year 2013, we changed the cash flow presentation of transactions associated with the partnership's intercompany lending activities by reclassifying certain amounts from operating cash flows to financing cash flows.