Condensed Consolidating Guarantor Financial Statements (Tables)

3 Months Ended

Mar. 31, 2014

Condensed Consolidating Guarantor Financial Statements [Abstract]

Schedule of Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Guarantor Balance Sheets

	March 31, 2014
	Parent		Guarantors			Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	4,491	$	—		$	72,440	$	(1,973	)	$	74,958
Restricted cash	3,855		—			3,817		—			7,672
Accounts receivable, net	640		23,152			357,357		—			381,149
Receivable from affiliates	762		15,096			40,995		(4,572		)	52,281
Inventories	—		(682		)	39,504		—			38,822
Other current assets	8,072		56			3,698		—			11,826
Total current assets	17,820		37,622			517,811		(6,545		)	566,708
Property, plant and equipment, net	3,921		403,988			729,631		—			1,137,540
Equity method investments	1,575,400		561,556			169,000		(1,712,418		)	593,538
Goodwill	—		23,839			38,084		—			61,923
Other intangible assets, net	29		161,361			10,411		—			171,801
Other noncurrent assets, net	16,682		1,339			11,863		—			29,884
Total assets	$	1,613,852	$	1,189,705		$	1,476,800	$	(1,718,963	)	$	2,561,394
LIABILITIES AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	244	$	30,690		$	292,586	$	—		$	323,520
Payable to affiliates	171		28			42,576		(4,572		)	38,203
Accrued liabilities	10,311		14,874			44,513		(5		)	69,693
Payables to pre-petition creditors	3,128		—			51		—			3,179
Deferred revenue	—		—			23,204		—			23,204
Warrant liability	57,155		—			—		—			57,155
Other current liabilities	877		710			4,155		—			5,742
Current portion of long-term debt	—		—			38		—			38
Total current liabilities	71,886		46,302			407,123		(4,577		)	520,734
Long-term debt	428,000		—			244,578		—			672,578
Deferred income taxes	55,649		—			53,112		—			108,761
Other noncurrent liabilities	8		—			41,054		—			41,062
Commitments and contingencies
Owners’ equity excluding noncontrolling interests in consolidated subsidiaries	1,058,309		1,143,403			570,983		(1,714,386		)	1,058,309
Noncontrolling interests in consolidated subsidiaries	—		—			159,950		—			159,950
Total owners’ equity	1,058,309		1,143,403			730,933		(1,714,386		)	1,218,259
Total liabilities and owners’ equity	$	1,613,852	$	1,189,705		$	1,476,800	$	(1,718,963	)	$	2,561,394

	December 31, 2013
	Parent		Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	2,545	$	—	$	78,364	$	(1,558	)	$	79,351
Restricted cash	3,851		—		1,268		—			5,119
Accounts receivable, net	649		14,642		308,674		—			323,965
Receivable from affiliates	1,519		14,063		56,040		(4,349		)	67,273
Inventories	—		1,046		43,249		—			44,295
Other current assets	8,712		193		5,106		—			14,011
Total current assets	17,276		29,944		492,701		(5,907		)	534,014
Property, plant and equipment, net	4,114		366,067		735,547		—			1,105,728
Equity method investments	1,511,922		461,056		159,321		(1,567,175		)	565,124
Goodwill	—		23,839		38,182		—			62,021
Other intangible assets, net	31		163,144		11,663		—			174,838
Other noncurrent assets, net	15,263		1,302		12,324		—			28,889
Total assets	$	1,548,606	$	1,045,352	$	1,449,738	$	(1,573,082	)	$	2,470,614
LIABILITIES AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	1,172	$	24,234	$	229,061	$	—		$	254,467
Payable to affiliates	17		115		67,062		(4,915		)	62,279
Accrued liabilities	10,072		17,341		56,011		5			83,429
Payables to pre-petition creditors	3,124		—		53		—			3,177
Deferred revenue	—		—		25,538		—			25,538
Warrant liability	58,134		—		—		—			58,134
Other current liabilities	3,741		715		7,697		—			12,153
Current portion of long-term debt	—		—		37		—			37
Total current liabilities	76,260		42,405		385,459		(4,910		)	499,214
Long-term debt	370,000		—		245,088		—			615,088
Deferred income taxes	48,436		—		52,509		—			100,945
Other noncurrent liabilities	8		—		41,496		—			41,504
Commitments and contingencies
Owners’ equity excluding noncontrolling interests in consolidated subsidiaries	1,053,902		1,002,947		565,225		(1,568,172		)	1,053,902
Noncontrolling interests in consolidated subsidiaries	—		—		159,961		—			159,961
Total owners’ equity	1,053,902		1,002,947		725,186		(1,568,172		)	1,213,863
Total liabilities and owners’ equity	$	1,548,606	$	1,045,352	$	1,449,738	$	(1,573,082	)	$	2,470,614

Schedule of Condensed Income Statement [Table Text Block]

Condensed Consolidating Guarantor Statements of Operations

	Three Months Ended March 31, 2014
	Parent			Guarantors		Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	98,125	$	338,797		$	(9,892	)	$	427,030
Service	—			2,810		45,697			—			48,507
Other	—			—		23,346			—			23,346
Total revenues	—			100,935		407,840			(9,892		)	498,883
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			77,534		317,471			(9,892		)	385,113
Operating	—			7,350		43,428			—			50,778
General and administrative	4,533			2,291		11,912			—			18,736
Depreciation and amortization	435			5,764		17,438			—			23,637
Loss (gain) on disposal of long-lived assets, net	—			10		(68		)	—			(58		)
Total expenses	4,968			92,949		390,181			(9,892		)	478,206
Earnings from equity method investments	20,902			16,627		7,404			(29,971		)	14,962
Gain on issuance of common units by equity method investee	8,127			—		—			—			8,127
Operating income	24,061			24,613		25,063			(29,971		)	43,766
Other expenses (income):
Interest expense	2,490			4,079		3,475			(817		)	9,227
Foreign currency transaction gain	—			—		(683		)	—			(683		)
Other expense (income), net	(1,797		)	—		(67		)	817			(1,047		)
Total other expenses, net	693			4,079		2,725			—			7,497
Income from continuing operations before income taxes	23,368			20,534		22,338			(29,971		)	36,269
Income tax expense	9,780			—		6,746			—			16,526
Income from continuing operations	13,588			20,534		15,592			(29,971		)	19,743
Income (loss) from discontinued operations, net of income taxes	—			—		(5		)	—			(5		)
Net income	13,588			20,534		15,587			(29,971		)	19,738
Less: net income attributable to noncontrolling interests	—			—		6,150			—			6,150
Net income attributable to SemGroup	$	13,588		$	20,534	$	9,437		$	(29,971	)	$	13,588
Net income	$	13,588		$	20,534	$	15,587		$	(29,971	)	$	19,738
Other comprehensive loss, net of income taxes	(746		)	—		(2,226		)	—			(2,972		)
Comprehensive income	12,842			20,534		13,361			(29,971		)	16,766
Less: comprehensive income attributable to noncontrolling interests	—			—		6,150			—			6,150
Comprehensive income attributable to SemGroup	$	12,842		$	20,534	$	7,211		$	(29,971	)	$	10,616

	Three Months Ended March 31, 2013
	Parent			Guarantors		Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	37,634	$	202,064		$	(4,069	)	$	235,629
Service	—			248		27,409			—			27,657
Other	—			—		24,410			—			24,410
Total revenues	—			37,882		253,883			(4,069		)	287,696
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			28,474		187,964			(4,069		)	212,369
Operating	—			3,971		36,800			—			40,771
General and administrative	3,918			2,036		11,083			—			17,037
Depreciation and amortization	525			1,978		10,133			—			12,636
Loss (gain) on disposal of long-lived assets, net	—			8		(170		)	—			(162		)
Total expenses	4,443			36,467		245,810			(4,069		)	282,651
Earnings from equity method investments	16,866			18,547		10,439			(28,507		)	17,345
Operating income	12,423			19,962		18,512			(28,507		)	22,390
Other expenses (income):
Interest expense	(2,016		)	803		7,412			(3,803		)	2,396
Foreign currency transaction loss	—			—		(167		)	—			(167		)
Other expense (income), net	24,434			158		(2,762		)	3,803			25,633
Total other expenses (income), net	22,418			961		4,483			—			27,862
Income (loss) from continuing operations before income taxes	(9,995		)	19,001		14,029			(28,507		)	(5,472		)
Income tax benefit	(53,418		)	—		(588		)	—			(54,006		)
Income from continuing operations	43,423			19,001		14,617			(28,507		)	48,534
Income from discontinued operations, net of income taxes	—			30		2			—			32
Net income	43,423			19,031		14,619			(28,507		)	48,566
Less: net income attributable to noncontrolling interests	—			—		5,143			—			5,143
Net income attributable to SemGroup	$	43,423		$	19,031	$	9,476		$	(28,507	)	$	43,423
Net income	$	43,423		$	19,031	$	14,619		$	(28,507	)	$	48,566
Other comprehensive income (loss), net of income taxes	1,416			—		(6,474		)	—			(5,058		)
Comprehensive income	44,839			19,031		8,145			(28,507		)	43,508
Less: comprehensive income attributable to noncontrolling interests	—			—		5,143			—			5,143
Comprehensive income attributable to SemGroup	$	44,839		$	19,031	$	3,002		$	(28,507	)	$	38,365

Schedule of Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidating Guarantor Statements of Cash Flows

	Three Months Ended March 31, 2014
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by operating activities	$	1,079		$	10,532		$	23,174		$	(5,887	)	$	28,898
Cash flows from investing activities:
Capital expenditures	(242		)	(42,272		)	(14,239		)	—			(56,753		)
Proceeds from sale of long-lived assets	—			11			684			—			695
Investments in non-consolidated subsidiaries	—			(11,099		)	(13,152		)	—			(24,251		)
Distributions in excess of equity in earnings of affiliates	—			—			2,505			—			2,505
Net cash provided by (used in) investing activities	(242		)	(53,360		)	(24,202		)	—			(77,804		)
Cash flows from financing activities:
Debt issuance costs	(93		)	—			(62		)	—			(155		)
Borrowings on credit facilities	140,000			—			46,000			—			186,000
Principal payments on credit facilities and other obligations	(82,000		)	—			(46,509		)	—			(128,509		)
Distributions to noncontrolling interests	—			—			(6,398		)	—			(6,398		)
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(719		)	—			—			—			(719		)
Dividends paid	(9,382		)	—			—			—			(9,382		)
Proceeds from issuance of common stock under employee stock purchase plan	88			—			—			—			88
Excess tax benefit from equity-based awards	1,650			—			—			—			1,650
Intercompany borrowings (advances), net	(48,435		)	42,828			135			5,472			—
Net cash provided by (used in) financing activities	1,109			42,828			(6,834		)	5,472			42,575
Effect of exchange rate changes on cash and cash equivalents	—			—			1,938			—			1,938
Change in cash and cash equivalents	1,946			—			(5,924		)	(415		)	(4,393		)
Cash and cash equivalents at beginning of period	2,545			—			78,364			(1,558		)	79,351
Cash and cash equivalents at end of period	$	4,491		$	—		$	72,440		$	(1,973	)	$	74,958

	Three Months Ended March 31, 2013
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	4,488		$	6,877		$	21,028		$	(5,090	)	$	27,303
Cash flows from investing activities:
Capital expenditures	(279		)	(11,163		)	(10,464		)	—			(21,906		)
Proceeds from sale of long-lived assets	—			(5		)	172			—			167
Investments in non-consolidated subsidiaries	—			(13,376		)	(23,049		)	—			(36,425		)
Proceeds from the sale of interest in SemCrude Pipeline, L.L.C. to Rose Rock Midstream L.P.	189,500			—			—			(189,500		)	—
Distributions in excess of equity in earnings of affiliates	—			—			1,114			—			1,114
Net cash provided by (used in) investing activities	189,221			(24,544		)	(32,227		)	(189,500		)	(57,050		)
Cash flows from financing activities:
Debt issuance costs	—			—			(1,612		)	—			(1,612		)
Borrowings on credit facilities	33,500			—			195,974			—			229,474
Principal payments on credit facilities and other obligations	(211,500		)	—			(43,506		)	—			(255,006		)
Proceeds from issuance of Rose Rock Midstream, L.P. common units, net of offering costs	—			—			57,886			—			57,886
Distributions to noncontrolling interests	—			—			(3,624		)	—			(3,624		)
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(371		)	—			—			—			(371		)
Intercompany borrowing (advances), net	(21,090		)	17,667			(186,402		)	189,825			—
Net cash provided by (used in) financing activities	(199,461		)	17,667			18,716			189,825			26,747
Effect of exchange rate changes on cash and cash equivalents	—			—			323			—			323
Change in cash and cash equivalents	(5,752		)	—			7,840			(4,765		)	(2,677		)
Cash and cash equivalents at beginning of period	19,123			—			63,844			(2,938		)	80,029
Cash and cash equivalents at end of period	$	13,371		$	—		$	71,684		$	(7,703	)	$	77,352