XML 47 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities    
Net income $ 30,409us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest $ 57,154us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 28,472us-gaap_DepreciationDepletionAndAmortization 19,706us-gaap_DepreciationDepletionAndAmortization
Amortization of deferred financing fees 1,459us-gaap_AmortizationOfFinancingCosts 1,283us-gaap_AmortizationOfFinancingCosts
Amortization of senior notes discount 179us-gaap_AmortizationOfDebtDiscountPremium 105us-gaap_AmortizationOfDebtDiscountPremium
Bad debt expense 35us-gaap_ProvisionForDoubtfulAccounts 250us-gaap_ProvisionForDoubtfulAccounts
Unit-based compensation expense 945us-gaap_ShareBasedCompensation 851us-gaap_ShareBasedCompensation
Loss on asset sales 437us-gaap_GainLossOnSaleOfProperty 663us-gaap_GainLossOnSaleOfProperty
Changes in operating assets and liabilities, excluding assets acquired:    
Accounts receivable 52,186us-gaap_IncreaseDecreaseInAccountsReceivable 41,898us-gaap_IncreaseDecreaseInAccountsReceivable
Accounts receivable - affiliate 58us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties (234)us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties
Inventories (15,614)us-gaap_IncreaseDecreaseInInventories 112,328us-gaap_IncreaseDecreaseInInventories
Broker margin deposits (16,539)us-gaap_IncreaseDecreaseInMarginDepositsOutstanding 6,599us-gaap_IncreaseDecreaseInMarginDepositsOutstanding
Prepaid expenses, all other current assets and other assets 10,157us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (11,416)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable (170,646)us-gaap_IncreaseDecreaseInAccountsPayable (182,076)us-gaap_IncreaseDecreaseInAccountsPayable
Trustee taxes payable (21,099)glp_IncreaseDecreaseInTrusteeTaxesPayable 701glp_IncreaseDecreaseInTrusteeTaxesPayable
Change in derivatives 16,121us-gaap_UnrealizedGainLossOnDerivatives 17,252us-gaap_UnrealizedGainLossOnDerivatives
Accrued expenses, all other current liabilities and other long-term liabilities (30,475)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities (11,918)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
Net cash (used in) provided by operating activities (113,915)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 53,146us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities    
Acquisitions, net of cash acquired 405,478us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired  
Capital expenditures (14,045)us-gaap_PaymentsToAcquireProductiveAssets (13,075)us-gaap_PaymentsToAcquireProductiveAssets
Proceeds from sale of property and equipment 1,044us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 1,746us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Net cash used in investing activities (418,479)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (11,329)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities    
Borrowings from (payments on) working capital revolving credit facility 175,400glp_PaymentsOnBorrowingsFromWorkingCapitalRevolvingCreditFacility (20,200)glp_PaymentsOnBorrowingsFromWorkingCapitalRevolvingCreditFacility
Borrowings from revolving credit facility 383,600glp_BorrowingsFromPaymentsOnCreditFacilitiesNet  
Payments on line of credit (700)us-gaap_RepaymentsOfLinesOfCredit  
Repurchase of common units (2,442)glp_PaymentsForRepurchaseOfCommonLimitedPartnersUnits  
Noncontrolling interest capital contribution 1,880us-gaap_ProceedsFromMinorityShareholders 2,400us-gaap_ProceedsFromMinorityShareholders
Distribution to noncontrolling interest (1,880)us-gaap_PaymentsToMinorityShareholders (2,400)us-gaap_PaymentsToMinorityShareholders
Distributions to partners (22,357)us-gaap_PaymentsOfCapitalDistribution (17,770)us-gaap_PaymentsOfCapitalDistribution
Net cash provided by (used in) financing activities 533,501us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (37,970)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Increase in cash and cash equivalents 1,107us-gaap_NetCashProvidedByUsedInContinuingOperations 3,847us-gaap_NetCashProvidedByUsedInContinuingOperations
Cash and cash equivalents at beginning of period 5,238us-gaap_CashAndCashEquivalentsAtCarryingValue 9,217us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 6,345us-gaap_CashAndCashEquivalentsAtCarryingValue 13,064us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental information    
Cash paid during the period for interest $ 18,860us-gaap_InterestPaidNet $ 9,587us-gaap_InterestPaidNet