XML 93 R71.htm IDEA: XBRL DOCUMENT v3.3.1.900
Subsidiary Guarantors Condensed Consolidating Statements of Cash Flow (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flow from operating activities:                      
Net loss $ (2,472,207) $ (1,569,317) $ (379,127) $ (339,160) $ (154,502) $ (4,100) $ (207,870) $ (85,337) $ (4,759,811) $ (451,809) $ (691,337)
Adjustments to reconcile net loss to net cash provided by operating activities:                      
Depreciation, depletion and amortization                 805,757 1,073,902 829,311
Impairment of long-lived assets                 5,813,954 2,303,749 828,317
Unit-based compensation expenses                 56,136 53,284 42,703
Amortization and write-off of deferred financing fees                 34,743 50,926 21,507
Gain loss on sale of assets and other, net                 (189,161) (261,571) 37,232
(Gain) loss on extinguishment of debt                 (719,259) 0 5,304
Equity in earnings from consolidated subsidiaries                 0 0 0
Deferred Income Tax Expense (Benefit)                 4,538 3,943 (2,541)
Derivatives activities:                      
Total gains (273,567) $ (549,029) $ 191,188 (424,781) (1,404,758) $ (451,702) $ 408,788 241,493 (1,063,082) (1,206,179) (177,857)
Cash settlements                 1,199,410 95,514 248,862
Cash settlements on canceled derivatives                 4,679 12,281 0
Changes in assets and liabilities:                      
Decrease in accounts receivable – trade, net                 267,241 5,064 89,188
Increase in accounts receivable – affiliates                 0 0 0
(Increase) decrease in other assets                 9,582 (17,824) 16,179
Increase (decrease) in accounts payable and accrued expenses                 (156,394) 99,029 (76,993)
Decrease in accounts payable and accrued expenses – affiliates                 0 0 0
Increase in accounts payable and accrued expenses – affiliates                 0 0 0
Decrease in other liabilities                 (58,876) (48,419) (3,663)
Net cash provided by operating activities                 1,249,457 1,711,890 1,166,212
Cash flow from investing activities:                      
Acquisition of oil and natural gas properties and joint-venture funding, net of cash acquired                 0 (2,479,252) (279,213)
Development of oil and natural gas properties                 (608,889) (1,569,877) (1,078,025)
Purchases of other property and equipment                 (66,708) (74,540) (92,352)
Investment in affiliates                 0 0 0
Change in notes receivable with affiliate                 0 0 0
Repayment of Notes Receivable from Related Parties                 0    
Proceeds from sale of properties and equipment and other                 368,295 2,203,565 196,273
Net cash used in investing activities                 (307,302) (1,920,104) (1,253,317)
Proceeds from sale of units                 233,427 0 0
Cash flow from financing activities:                      
Proceeds from borrowings                 1,445,000 5,940,024 2,230,000
Repayments of Long-term Debt                 (2,183,879) (4,811,124) (1,404,898)
Distributions to unitholders                 (323,878) (962,048) (682,241)
Payment of Financing and Stock Issuance Costs                 (28,055) (69,694) (16,033)
Change in note payable with affiliate                 0 0 0
Proceeds from Contributions from Parent                 0 0  
Payments of Distributions to Affiliates                     0
Proceeds from (Repayments of) Related Party Debt                 0    
Excess tax benefit from unit-based compensation                   766 160
Excess tax benefit from unit-based compensation                 (9,467)    
Other                 (74,944) 59,928 11,045
Net cash provided by (used in) financing activities                 (941,796) 157,852 138,033
Net increase (decrease) in cash and cash equivalents                 359 (50,362) 50,928
Cash and cash equivalents:                      
Beginning       1,809       52,171 1,809 52,171 1,243
Ending 2,168       1,809       2,168 1,809 52,171
Eliminations                      
Cash flow from operating activities:                      
Net loss                 5,060,784 (28,397) 266,899
Adjustments to reconcile net loss to net cash provided by operating activities:                      
Depreciation, depletion and amortization                 6,711 0 0
Impairment of long-lived assets                 (64,800) 0 0
Unit-based compensation expenses                 0 0 0
Amortization and write-off of deferred financing fees                 0 0 0
Gain loss on sale of assets and other, net                 0 0 0
(Gain) loss on extinguishment of debt                 0   0
Equity in earnings from consolidated subsidiaries                 (5,002,695) 28,397 (266,899)
Deferred Income Tax Expense (Benefit)                 0 0 0
Derivatives activities:                      
Total gains                 0 0 0
Cash settlements                 0 0 0
Cash settlements on canceled derivatives                 0 0  
Changes in assets and liabilities:                      
Decrease in accounts receivable – trade, net                 0 0 0
Increase in accounts receivable – affiliates                 (1,172,407) (274,435) 137,917
(Increase) decrease in other assets                 0 0 0
Increase (decrease) in accounts payable and accrued expenses                 0 0 0
Decrease in accounts payable and accrued expenses – affiliates                 1,172,407 274,435 (137,917)
Increase in accounts payable and accrued expenses – affiliates                 1,172,407 274,435 (137,917)
Decrease in other liabilities                 0 0 0
Net cash provided by operating activities                 0 0 0
Cash flow from investing activities:                      
Acquisition of oil and natural gas properties and joint-venture funding, net of cash acquired                   0 0
Development of oil and natural gas properties                 0 0 0
Purchases of other property and equipment                 0 0 0
Investment in affiliates                 (132,332) (100,921) 435,000
Change in notes receivable with affiliate                 44,600 44,300 26,700
Repayment of Notes Receivable from Related Parties                 (129,217)    
Proceeds from sale of properties and equipment and other                 0 0 0
Net cash used in investing activities                 47,715 145,221 (408,300)
Proceeds from sale of units                 0    
Cash flow from financing activities:                      
Proceeds from borrowings                 0 0 0
Repayments of Long-term Debt                 0 0 0
Distributions to unitholders                 0 0 0
Payment of Financing and Stock Issuance Costs                 0 0 0
Change in note payable with affiliate                 (44,600) (44,300) (26,700)
Proceeds from Contributions from Parent                 (132,332) (100,921)  
Payments of Distributions to Affiliates                     435,000
Proceeds from (Repayments of) Related Party Debt                 129,217    
Excess tax benefit from unit-based compensation                   0 0
Excess tax benefit from unit-based compensation                 0    
Other                 0 0 0
Net cash provided by (used in) financing activities                 (47,715) (145,221) 408,300
Net increase (decrease) in cash and cash equivalents                 0 0 0
Cash and cash equivalents:                      
Beginning       0       0 0 0 0
Ending 0       0       0 0 0
Linn Energy, LLC | Reportable Legal Entities                      
Cash flow from operating activities:                      
Net loss                 (4,759,811) (451,809) (691,337)
Adjustments to reconcile net loss to net cash provided by operating activities:                      
Depreciation, depletion and amortization                 0 0 0
Impairment of long-lived assets                 0 0 0
Unit-based compensation expenses                 0 0 0
Amortization and write-off of deferred financing fees                 30,993 38,785 22,122
Gain loss on sale of assets and other, net                 0 0 0
(Gain) loss on extinguishment of debt                 (708,050)   5,304
Equity in earnings from consolidated subsidiaries                 5,002,695 (28,397) 266,899
Deferred Income Tax Expense (Benefit)                 0 0 0
Derivatives activities:                      
Total gains                 0 0 0
Cash settlements                 0 0 0
Cash settlements on canceled derivatives                 0 0  
Changes in assets and liabilities:                      
Decrease in accounts receivable – trade, net                 0 0 0
Increase in accounts receivable – affiliates                 1,167,823 257,485 (120,967)
(Increase) decrease in other assets                 0 312 (330)
Increase (decrease) in accounts payable and accrued expenses                 (14) 0 178
Decrease in accounts payable and accrued expenses – affiliates                 0 0 0
Increase in accounts payable and accrued expenses – affiliates                 0 0 0
Decrease in other liabilities                 (39,646) 14,465 2,092
Net cash provided by operating activities                 693,990 (169,159) (516,039)
Cash flow from investing activities:                      
Acquisition of oil and natural gas properties and joint-venture funding, net of cash acquired                   0 0
Development of oil and natural gas properties                 0 0 0
Purchases of other property and equipment                 0 0 0
Investment in affiliates                 132,332 100,921 (435,000)
Change in notes receivable with affiliate                 (44,600) (44,300) (26,700)
Repayment of Notes Receivable from Related Parties                 0    
Proceeds from sale of properties and equipment and other                 (3,430) (14,117) (22,039)
Net cash used in investing activities                 (180,362) (159,338) 386,261
Proceeds from sale of units                 233,427    
Cash flow from financing activities:                      
Proceeds from borrowings                 1,445,000 4,640,024 2,230,000
Repayments of Long-term Debt                 (1,828,461) (3,305,000) (1,404,898)
Distributions to unitholders                 (323,878) (962,048) (682,241)
Payment of Financing and Stock Issuance Costs                 (26,678) (59,048) (16,033)
Change in note payable with affiliate                 0 0 0
Proceeds from Contributions from Parent                 0 0  
Payments of Distributions to Affiliates                     0
Proceeds from (Repayments of) Related Party Debt                 0    
Excess tax benefit from unit-based compensation                   810 0
Excess tax benefit from unit-based compensation                 (9,467)    
Other                 (2,536) 13,745 2,895
Net cash provided by (used in) financing activities                 (512,593) 328,483 129,723
Net increase (decrease) in cash and cash equivalents                 1,035 (14) (55)
Cash and cash equivalents:                      
Beginning       38       52 38 52 107
Ending 1,073       38       1,073 38 52
Guarantor Subsidiaries | Reportable Legal Entities                      
Cash flow from operating activities:                      
Net loss                 (4,045,607) 5,801 (246,926)
Adjustments to reconcile net loss to net cash provided by operating activities:                      
Depreciation, depletion and amortization                 547,675 771,549 818,466
Impairment of long-lived assets                 5,024,944 2,050,387 828,317
Unit-based compensation expenses                 56,136 53,284 42,703
Amortization and write-off of deferred financing fees                 0 17,054 0
Gain loss on sale of assets and other, net                 (188,200) (372,945) 37,232
(Gain) loss on extinguishment of debt                 0   0
Equity in earnings from consolidated subsidiaries                 0 0 0
Deferred Income Tax Expense (Benefit)                 4,606 3,874 (2,541)
Derivatives activities:                      
Total gains                 (1,027,014) (1,127,395) (182,906)
Cash settlements                 1,130,640 88,776 248,862
Cash settlements on canceled derivatives                 4,679 0  
Changes in assets and liabilities:                      
Decrease in accounts receivable – trade, net                 207,300 (11,419) 17,754
Increase in accounts receivable – affiliates                 4,584 16,950 (16,950)
(Increase) decrease in other assets                 (9,142) (2,187) 5,896
Increase (decrease) in accounts payable and accrued expenses                 (98,209) 99,003 (52,143)
Decrease in accounts payable and accrued expenses – affiliates                 (1,167,823) (270,690) 120,967
Increase in accounts payable and accrued expenses – affiliates                 (1,167,823) (270,690) 120,967
Decrease in other liabilities                 (11,620) (24,473) 6,842
Net cash provided by operating activities                 432,949 1,297,569 1,625,573
Cash flow from investing activities:                      
Acquisition of oil and natural gas properties and joint-venture funding, net of cash acquired                   (2,475,315) (730,326)
Development of oil and natural gas properties                 (576,256) (1,061,395) (1,060,547)
Purchases of other property and equipment                 (48,967) (63,070) (92,352)
Investment in affiliates                 0 0 0
Change in notes receivable with affiliate                 0 0 0
Repayment of Notes Receivable from Related Parties                 0    
Proceeds from sale of properties and equipment and other                 349,200 2,210,015 218,312
Net cash used in investing activities                 (276,023) (1,389,765) (1,664,913)
Proceeds from sale of units                 0    
Cash flow from financing activities:                      
Proceeds from borrowings                 0 1,300,000 0
Repayments of Long-term Debt                 0 (1,300,000) 0
Distributions to unitholders                 0 0 0
Payment of Financing and Stock Issuance Costs                 0 0 0
Change in note payable with affiliate                 44,600 44,300 26,700
Proceeds from Contributions from Parent                 0 0  
Payments of Distributions to Affiliates                     0
Proceeds from (Repayments of) Related Party Debt                 (129,217)    
Excess tax benefit from unit-based compensation                   (44) 160
Excess tax benefit from unit-based compensation                 0    
Other                 (72,422) 47,047 12,422
Net cash provided by (used in) financing activities                 (157,039) 91,303 39,282
Net increase (decrease) in cash and cash equivalents                 (113) (893) (58)
Cash and cash equivalents:                      
Beginning       185       1,078 185 1,078 1,136
Ending 72       185       72 185 1,078
Non-Guarantor Subsidiary | Reportable Legal Entities                      
Cash flow from operating activities:                      
Net loss                 (1,015,177) 22,596 (19,973)
Adjustments to reconcile net loss to net cash provided by operating activities:                      
Depreciation, depletion and amortization                 251,371 302,353 10,845
Impairment of long-lived assets                 853,810 253,362 0
Unit-based compensation expenses                 0 0 0
Amortization and write-off of deferred financing fees                 3,750 (4,913) (615)
Gain loss on sale of assets and other, net                 (961) 111,374 0
(Gain) loss on extinguishment of debt                 (11,209)   0
Equity in earnings from consolidated subsidiaries                 0 0 0
Deferred Income Tax Expense (Benefit)                 (68) 69 0
Derivatives activities:                      
Total gains                 (36,068) (78,784) 5,049
Cash settlements                 68,770 6,738 0
Cash settlements on canceled derivatives                 0 12,281  
Changes in assets and liabilities:                      
Decrease in accounts receivable – trade, net                 59,941 16,483 71,434
Increase in accounts receivable – affiliates                 0 0 0
(Increase) decrease in other assets                 18,724 (15,949) 10,613
Increase (decrease) in accounts payable and accrued expenses                 (58,171) 26 (25,028)
Decrease in accounts payable and accrued expenses – affiliates                 (4,584) (3,745) 16,950
Increase in accounts payable and accrued expenses – affiliates                 (4,584) (3,745) 16,950
Decrease in other liabilities                 (7,610) (38,411) (12,597)
Net cash provided by operating activities                 122,518 583,480 56,678
Cash flow from investing activities:                      
Acquisition of oil and natural gas properties and joint-venture funding, net of cash acquired                   (3,937) 451,113
Development of oil and natural gas properties                 (32,633) (508,482) (17,478)
Purchases of other property and equipment                 (17,741) (11,470) 0
Investment in affiliates                 0 0 0
Change in notes receivable with affiliate                 0 0 0
Repayment of Notes Receivable from Related Parties                 129,217    
Proceeds from sale of properties and equipment and other                 22,525 7,667 0
Net cash used in investing activities                 101,368 (516,222) 433,635
Proceeds from sale of units                 0    
Cash flow from financing activities:                      
Proceeds from borrowings                 0 0 0
Repayments of Long-term Debt                 (355,418) (206,124) 0
Distributions to unitholders                 0 0 0
Payment of Financing and Stock Issuance Costs                 (1,377) (10,646) 0
Change in note payable with affiliate                 0 0 0
Proceeds from Contributions from Parent                 132,332 100,921  
Payments of Distributions to Affiliates                     (435,000)
Proceeds from (Repayments of) Related Party Debt                 0    
Excess tax benefit from unit-based compensation                   0 0
Excess tax benefit from unit-based compensation                 0    
Other                 14 (864) (4,272)
Net cash provided by (used in) financing activities                 (224,449) (116,713) (439,272)
Net increase (decrease) in cash and cash equivalents                 (563) (49,455) 51,041
Cash and cash equivalents:                      
Beginning       $ 1,586       $ 51,041 1,586 51,041 0
Ending $ 1,023       $ 1,586       $ 1,023 $ 1,586 $ 51,041