Guarantor Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2014

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF MARCH 31, 2014

($ in thousands)

	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	39,802		$	49,708		$	—		$	89,510
Accounts receivable		—		154,131			24,355			—			178,486
Intercompany receivable from parent		4,510,997		5,080			378			(4,516,455	)		—
Prepaid expense		—		14,983			14			—			14,997
Other current assets		—		13,452			1,880			—			15,332
Total current assets		4,510,997		227,448			76,335			(4,516,455	)		298,325

Property, plant and equipment
Gathering systems		—		5,420,833			809,330			—			6,230,163
Other fixed assets		—		350,971			—			—			350,971
Less: accumulated depreciation		—		(920,162	)		(18,302	)		—			(938,464	)
Total property, plant and equipment, net		—		4,851,642			791,028			—			5,642,670
Investments in unconsolidated affiliates		3,136,389		2,450,209			—			(3,610,546	)		1,976,052
Intangible customer relationships, net		—		366,446			—			—			366,446
Deferred loan costs, net		52,803		12,817			—			—			65,620

Total assets	$	7,700,189	$	7,908,562		$	867,363		$	(8,127,001	)	$	8,349,113

Current liabilities:
Accounts payable	$	—	$	21,871		$	9,845		$	—		$	31,716
Accrued liabilities		—		229,931			66,062			—			295,993
Intercompany payable to parent		—		—			5,458			(5,458	)		—
Total current liabilities		—		251,802			81,365			(5,458	)		327,709

Long-term liabilities:
Long-term debt		3,655,565		—			—			—			3,655,565
Intercompany payable to parent		—		4,510,997			—			(4,510,997	)		—
Other liabilities		—		9,374			209			—			9,583
Total long-term liabilities		3,655,565		4,520,371			209			(4,510,997	)		3,665,148

Partners’ capital:
Total partners’ capital attributable to Access Midstream Partners, L.P.		4,044,624		3,136,389			785,789			(3,922,178	)		4,044,624
Noncontrolling interest		—		—			—			311,632			311,632
Total partners’ capital		4,044,624		3,136,389			785,789			(3,610,546	)		4,356,256
Total liabilities and partners’ capital	$	7,700,189	$	7,908,562		$	867,363		$	(8,127,001	)	$	8,349,113

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2013

($ in thousands)

	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	400		$	16,829		$	—		$	17,229
Accounts receivable		—		202,007			20,402			—			222,409
Intercompany receivable from parent		3,882,291		3,105			20,330			(3,905,726	)		—
Prepaid expense		—		10,182			—			—			10,182
Other current assets		—		7,569			542			—			8,111
Total current assets		3,882,291		223,263			58,103			(3,905,726	)		257,931

Property, plant and equipment
Gathering systems		—		5,295,771			679,169			—			5,974,940
Other fixed assets		—		175,397			14			—			175,411
Less: accumulated depreciation		—		(845,892	)		(13,659	)		—			(859,551	)
Total property, plant and equipment, net		—		4,625,276			665,524			—			5,290,800
Investments in unconsolidated affiliates		3,076,205		2,315,988			—			(3,455,590	)		1,936,603
Intangible customer relationships, net		—		372,391			—			—			372,391
Deferred loan costs, net		46,140		13,581			—			—			59,721

Total assets	$	7,004,636	$	7,550,499		$	723,627		$	(7,361,316	)	$	7,917,446

Current liabilities:
Accounts payable	$	—	$	36,638		$	882		$	—		$	37,520
Accrued liabilities		—		203,099			65,853			—			268,952
Intercompany payable to parent		—		—			23,435			(23,435	)		—
Total current liabilities		—		239,737			90,170			(23,435	)		306,472

Long-term liabilities:
Long-term debt		2,905,730		343,500			—			—			3,249,230
Intercompany payable to parent		—		3,882,290			—			(3,882,290	)		—
Other liabilities		—		8,767			187			—			8,954

Total long-term liabilities		2,905,730		4,234,557			187			(3,882,290	)		3,258,184

Partners’ capital:
Total partners’ capital attributable to Access Midstream Partners, L.P.		4,098,906		3,076,205			633,270			(3,709,475	)		4,098,906
Noncontrolling interest		—		—			—			253,884			253,884
Total partners’ capital		4,098,906		3,076,205			633,270			(3,455,591	)		4,352,790
Total liabilities and partners’ capital	$	7,004,636	$	7,550,499		$	723,627		$	(7,361,316	)	$	7,917,446

Condensed Consolidating Statement of Operations

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2014

($ in thousands)

	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	245,992	$	31,086		$	—		$	277,078

Operating expenses
Operating expenses		—			80,179		12,734			—			92,913
Depreciation and amortization expense		—			80,870		4,674			—			85,544
General and administrative expense		—			32,526		1,654			—			34,180
Other operating expense		—			1,878		(73	)		—			1,805
Total operating expenses		—			195,453		18,989			—			214,442
Operating income		—			50,539		12,097			—			62,636

Other income (expense)
Income from unconsolidated affiliates		99,651			50,524		—			(107,297	)		42,878
Interest expense		(38,573	)		—		—			—			(38,573	)
Other income		—			392		—			—			392
Income before income tax expense		61,078			101,455		12,097			(107,297	)		67,333
Income tax expense		—			1,804		—			—			1,804
Net income		61,078			99,651		12,097			(107,297	)		65,529
Net income attributable to noncontrolling interest		—			—		—			4,451			4,451
Net income attributable to Access Midstream Partners, L.P.	$	61,078		$	99,651	$	12,097		$	(111,748	)	$	61,078

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2013

($ in thousands)

	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Revenues	$	—		$	229,570	$	7,389	$	—		$	236,959

Operating expenses
Operating expenses		—			80,601		2,162		—			82,763
Depreciation and amortization expense		—			64,832		1,818		—			66,650
General and administrative expense		—			23,578		156		—			23,734
Other operating expense		—			91		—		—			91
Total operating expenses		—			169,102		4,136		—			173,238
Operating income		—			60,468		3,253		—			63,721

Other income (expense)
Income from unconsolidated affiliates		86,604			27,107		—		(88,703	)		25,008
Interest expense		(27,066	)		—		4		—			(27,062	)
Other income		—			269		—		—			269
Income before income tax expense		59,538			87,844		3,257		(88,703	)		61,936
Income tax expense		—			1,240		—		—			1,240
Net income		59,538			86,604		3,257		(88,703	)		60,696
Net income attributable to noncontrolling interest		—			—		—		1,158			1,158
Net income attributable to Access Midstream Partners, L.P.	$	59,538		$	86,604	$	3,257	$	(89,861	)	$	59,538

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2014

($ in thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities	$	—		$	253,594		$	16,230		$	—	$	269,824

Cash flows from investing activities
Additions to property, plant and equipment		—			(145,859	)		(123,772	)		—		(269,631	)
Purchase of compression assets		—			(159,210	)		—			—		(159,210	)
Investments in unconsolidated affiliates		—			(107,364	)		—			—		(107,364	)
Proceeds from sale of assets		—			1,163			—			—		1,163
Net cash used in investing activities		—			(411,270	)		(123,772	)		—		(535,042	)

Cash flows from financing activities
Proceeds from long-term debt borrowings		—			692,371			—			—		692,371
Payments on long-term debt borrowings		—			(1,035,871	)		—			—		(1,035,871	)
Proceeds from issuance of common units		7,548			—			—			—		7,548
Proceeds from issuance of senior notes		750,000			—			—			—		750,000
Distribution to unitholders		(122,134	)		—			—			—		(122,134	)
Capital contribution from noncontrolling interests		—			—			53,297			—		53,297
Payments on capital lease obligations		—			(1,005	)		—			—		(1,005	)
Debt issuance costs		(8,009	)		—			—			—		(8,009	)
Other		1,302			—			—			—		1,302
Intercompany advances, net		(628,707	)		541,583			87,124			—		—
Net cash provided by financing activities		—			197,078			140,421			—		337,499
Net increase in cash and cash equivalents		—			39,402			32,879			—		72,281
Cash and cash equivalents, beginning of period		—			400			16,829					17,229
Cash and cash equivalents, end of period	$	—		$	39,802		$	49,708		$	—	$	89,510

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2013

($ in thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities	$	—		$	70,655		$	9,475		$	—	$	80,130

Cash flows from investing activities
Additions to property, plant and equipment		—			(194,131	)		(76,823	)		—		(270,954	)
Investments in unconsolidated affiliates		—			(111,808	)		—			—		(111,808	)
Proceeds from sale of assets		—			26,134			—			—		26,134
Net cash used in investing activities		—			(279,805	)		(76,823	)		—		(356,628	)

Cash flows from financing activities
Proceeds from long-term debt borrowings		—			715,900			—			—		715,900
Payments on long-term debt borrowings		—			(438,900	)		—			—		(438,900	)
Proceeds from issuance of common units		—			—			—			—		—
Proceeds from issuance of senior notes		—			—			—			—		—
Distribution to unitholders		(84,073	)		—			—			—		(84,073	)
Capital contribution from noncontrolling interests		—			—			18,980			—		18,980
Payments on capital lease obligations		—			—			—			—		—
Debt issuance costs		—			—			—			—		—
Other		(91	)		—			—			—		(91	)
Intercompany advances, net		84,164			(131,066	)		46,902			—		—
Net cash provided by financing activities		—			145,934			65,882			—		211,816
Net decrease in cash and cash equivalents		—			(63,216	)		(1,466	)		—		(64,682	)
Cash and cash equivalents, beginning of period		—			63,216			1,778					64,994
Cash and cash equivalents, end of period	$	—		$	—		$	312		$	—	$	312