XML 62 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 26,912 $ 53,794
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,978 23,824
(Gain) loss on sale of assets (417) (9)
Gain (Loss) on Extinguishment of Debt (25,915) 0
Amortization of deferred charges 799 766
Equity-based compensation expense 506 406
Equity in earnings of equity method investments, net of distributions (1,164) (112)
(Increase) decrease in operating assets:    
Accounts receivable – trade 3,093 (2,253)
Accounts receivable – affiliates 11,310 10,748
Prepaid and other current assets 126 244
Increase (decrease) in operating liabilities:    
Accounts payable – trade (10,344) (2,199)
Accounts payable – affiliates 2,921 (7,002)
Accrued interest (8,511) (7,616)
Deferred revenue (184) (233)
Accrued property taxes 1,908 3,757
Other current liabilities 760 130
Other, net 339 (3,090)
Net cash provided by operating activities 77,947 71,155
Cash flows from investing activities    
Additions to properties and equipment (18,942) (10,718)
Payments to Acquire Interest in Joint Venture (2,345) 0
Proceeds from sale of assets 417 9
Distributions in excess of equity in earnings of equity investments 0 395
Net cash used for investing activities (20,870) (10,314)
Cash flows from financing activities    
Borrowings under credit agreement 112,000 104,000
Repayments of credit agreement borrowings (67,000) (85,000)
Early Repayment of Senior Debt (522,500) 0
Proceeds from Issuance of Senior Long-term Debt 500,000 0
Distributions to HEP unitholders (68,519) (67,975)
Distributions to noncontrolling interests (3,000) (3,000)
Payments on finance leases (1,096) (252)
Contributions from general partner 354 0
Contribution from Joint Venture Partner 7,304 0
Payments of Debt Issuance Costs (8,478) 0
Units withheld for tax withholding obligations (147) (119)
Net cash used by financing activities (51,082) (52,346)
Cash and cash equivalents    
Increase (decrease) for the period 5,995 8,495
Beginning of period 13,287 3,045
End of period $ 19,282 $ 11,540