Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet

Crestwood Midstream Partners LP
Condensed Consolidating Balance Sheet
March 31, 2016
(in millions)
	Parent		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash	$	0.8	$	—	$	—	$	—		$	0.8
Accounts receivable	—		209.1		0.5		—			209.6
Inventory	—		26.6		—		—			26.6
Other current assets	—		33.3		—		—			33.3
Total current assets	0.8		269.0		0.5		—			270.3
Property, plant and equipment, net	—		3,514.4		—		—			3,514.4
Goodwill and intangible assets, net	—		1,719.1		—		—			1,719.1
Investment in consolidated affiliates	5,350.2		—		—		(5,350.2		)	—
Investment in unconsolidated affiliates	—		—		260.6		—			260.6
Other assets	—		3.0		—		—			3.0
Total assets	$	5,351.0	$	5,505.5	$	261.1	$	(5,350.2	)	$	5,767.4
Liabilities and partners' capital
Current liabilities:
Accounts payable	$	—	$	116.5	$	—	$	—		$	116.5
Other current liabilities	35.8		67.0		—		—			102.8
Total current liabilities	35.8		183.5		—		—			219.3
Long-term liabilities:
Long-term debt, less current portion	2,528.2		2.6		—		—			2,530.8
Other long-term liabilities	—		44.1		—		—			44.1
Deferred income taxes	—		0.6		—		—			0.6
Partners' capital	2,787.0		5,274.7		75.5		(5,350.2		)	2,787.0
Interest of non-controlling partners in subsidiaries	—		—		185.6		—			185.6
Total partners' capital	2,787.0		5,274.7		261.1		(5,350.2		)	2,972.6
Total liabilities and partners' capital	$	5,351.0	$	5,505.5	$	261.1	$	(5,350.2	)	$	5,767.4

Crestwood Midstream Partners LP
Condensed Consolidating Balance Sheet
December 31, 2015
(in millions)
	Parent		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash	$	0.1	$	—	$	—	$	—		$	0.1
Accounts receivable	—		236.0		0.5		—			236.5
Inventory	—		44.5		—		—			44.5
Other current assets	—		52.5		—		—			52.5
Total current assets	0.1		333.0		0.5		—			333.6
Property, plant and equipment, net	—		3,525.7		—		—			3,525.7
Goodwill and intangible assets, net	—		1,846.9		—		—			1,846.9
Investment in consolidated affiliates	5,506.8		—		—		(5,506.8		)	—
Investment in unconsolidated affiliates	—		—		254.3		—			254.3
Other assets	—		3.1		—		—			3.1
Total assets	$	5,506.9	$	5,708.7	$	254.8	$	(5,506.8	)	$	5,963.6
Liabilities and partners' capital
Current liabilities:
Accounts payable	$	—	$	141.3	$	0.1	$	—		$	141.4
Other current liabilities	26.4		85.2		—		—			111.6
Total current liabilities	26.4		226.5		0.1		—			253.0
Long-term liabilities:
Long-term debt, less current portion	2,498.9		2.9		—		—			2,501.8
Other long-term liabilities	—		43.3		—		—			43.3
Deferred income taxes	—		0.4		—		—			0.4
Partners' capital	2,981.6		5,435.6		71.2		(5,506.8		)	2,981.6
Interest of non-controlling partners in subsidiaries	—		—		183.5		—			183.5
Total partners' capital	2,981.6		5,435.6		254.7		(5,506.8		)	3,165.1
Total liabilities and partners' capital	$	5,506.9	$	5,708.7	$	254.8	$	(5,506.8	)	$	5,963.6

Condensed Income Statement

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Operations
Three Months Ended March 31, 2015
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	731.5		$	—		$	—		$	731.5
Costs of product/services sold	—			529.7			—			—			529.7
Expenses:
Operations and maintenance	—			50.6			—			—			50.6
General and administrative	13.4			12.2			—			—			25.6
Depreciation, amortization and accretion	0.2			68.6			—			—			68.8
	13.6			131.4			—			—			145.0
Other operating expense:
Loss on long-lived assets, net	—			(0.8		)	—			—			(0.8		)
Operating income (loss)	(13.6		)	69.6			—			—			56.0
Earnings from unconsolidated affiliates, net	—			—			3.4			—			3.4
Interest and debt expense, net	(29.9		)	—			—			—			(29.9		)
Equity in net income (loss) of subsidiary	72.6			—			—			(72.6		)	—
Income (loss) before income taxes	29.1			69.6			3.4			(72.6		)	29.5
Provision for income taxes	—			0.4			—			—			0.4
Net income (loss)	29.1			69.2			3.4			(72.6		)	29.1
Net income attributable to non-controlling partners in subsidiaries	—			—			5.6			—			5.6
Net income (loss) attributable to Crestwood Midstream Partners LP	29.1			69.2			(2.2		)	(72.6		)	23.5
Net income attributable to Class A preferred units	9.2			—			—			—			9.2
Net income (loss) attributable to partners	$	19.9		$	69.2		$	(2.2	)	$	(72.6	)	$	14.3

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Operations
Three Months Ended March 31, 2016
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations		Consolidated
Revenues	$	—		$	536.0		$	—	$	—	$	536.0
Costs of product/services sold	—			363.4			—		—		363.4
Expenses:
Operations and maintenance	—			41.7			—		—		41.7
General and administrative	17.7			4.5			—		—		22.2
Depreciation, amortization and accretion	—			64.9			—		—		64.9
	17.7			111.1			—		—		128.8
Other operating expense:
Goodwill impairment	—			(109.7		)	—		—		(109.7		)
Operating loss	(17.7		)	(48.2		)	—		—		(65.9		)
Earnings from unconsolidated affiliates, net	—			—			6.5		—		6.5
Interest and debt expense, net	(36.1		)	—			—		—		(36.1		)
Equity in net income (loss) of subsidiary	(41.5		)	—			—		41.5		—
Income (loss) before income taxes	(95.3		)	(48.2		)	6.5		41.5		(95.5		)
Benefit for income taxes	—			(0.2		)	—		—		(0.2		)
Net income (loss)	(95.3		)	(48.0		)	6.5		41.5		(95.3		)
Net income attributable to non-controlling partners in subsidiaries	—			—			5.9		—		5.9
Net income (loss) attributable to Crestwood Midstream Partners LP	$	(95.3	)	$	(48.0	)	$	0.6	$	41.5	$	(101.2	)

Condensed Cash Flow Statement

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2016
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:	$	(42.7	)	$	172.8		$	5.6		$	—		$	135.7
Cash flows from investing activities:
Purchases of property, plant and equipment	(0.9		)	(54.7		)	—			—			(55.6		)
Investment in unconsolidated affiliates	—			—			(5.5		)	—			(5.5		)
Proceeds from the sale of assets	—			0.8			—			—			0.8
Capital contributions to consolidated affiliates	(3.7		)	—			—			3.7			—
Net cash provided by (used in) investing activities	(4.6		)	(53.9		)	(5.5		)	3.7			(60.3		)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	313.5			—			—			—			313.5
Principal payments on long-term debt	(286.0		)	—			—			—			(286.0		)
Payments on capital leases	—			(0.5		)	—			—			(0.5		)
Payments for debt-related deferred costs	(0.1		)	—			—			—			(0.1		)
Distributions paid	(97.2		)	—			(3.8		)	—			(101.0		)
Contributions from parent	—			—			3.7			(3.7		)	—
Taxes paid for unit-based compensation vesting	—			(0.6		)	—			—			(0.6		)
Change in intercompany balances	117.8			(117.8		)	—			—			—
Net cash provided by (used in) financing activities	48.0			(118.9		)	(0.1		)	(3.7		)	(74.7		)
Net change in cash	0.7			—			—			—			0.7
Cash at beginning of period	0.1			—			—			—			0.1
Cash at end of period	$	0.8		$	—		$	—		$	—		$	0.8

Crestwood Midstream Partners LP
Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2015
(in millions)
	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:	$	(54.8	)	$	160.5		$	—		$	—		$	105.7
Cash flows from investing activities:
Purchases of property, plant and equipment	(0.1		)	(47.3		)	—			—			(47.4		)
Investment in unconsolidated affiliates	—			—			(17.9		)	—			(17.9		)
Proceeds from the sale of assets	—			0.5			—			—			0.5
Capital contributions to consolidated affiliates	(17.9		)	—			—			17.9			—
Other	—			(0.2		)	—			—			(0.2		)
Net cash provided by (used in) investing activities	(18.0		)	(47.0		)	(17.9		)	17.9			(65.0		)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	1,114.6			—			—			—			1,114.6
Principal payments on long-term debt	(970.4		)	—			—			—			(970.4		)
Payments on capital leases	(0.5		)	(0.2		)	—			—			(0.7		)
Payments for debt-related deferred costs	(11.1		)	—			—			—			(11.1		)
Distributions paid	(111.4		)	—			—			—			(111.4		)
Contributions from parent	—			—			17.9			(17.9		)	—
Taxes paid for unit-based compensation vesting	—			(1.7		)	—			—			(1.7		)
Change in intercompany balances	51.8			(51.8		)	—			—			—
Other	(0.2		)	—			—			—			(0.2		)
Net cash provided by (used in) financing activities	72.8			(53.7		)	17.9			(17.9		)	19.1
Net change in cash	—			59.8			—			—			59.8
Cash at beginning of period	—			7.6			—			—			7.6
Cash at end of period	$	—		$	67.4		$	—		$	—		$	67.4