Condensed Consolidating Guarantor Financial Statements (Tables)

3 Months Ended

Mar. 31, 2015

Condensed Consolidating Guarantor Financial Statements [Abstract]

Schedule of Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Guarantor Balance Sheets

	March 31, 2015
	Parent		Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	252,412	$	—	$	66,021	$	(2,908	)	$	315,525
Restricted cash	3,832		—		2,564		—			6,396
Accounts receivable, net	741		31,732		257,880		—			290,353
Receivable from affiliates	959		3,339		13,969		(3,111		)	15,156
Inventories	—		254		67,516		—			67,770
Other current assets	7,359		82		8,329		—			15,770
Total current assets	265,303		35,407		416,279		(6,019		)	710,970
Property, plant and equipment, net	4,589		480,959		818,233		—			1,303,781
Equity method investments	1,366,535		563,003		425,655		(1,793,730		)	561,463
Goodwill	—		13,052		45,107		—			58,159
Other intangible assets, net	24		150,333		20,005		—			170,362
Other noncurrent assets, net	37,443		1,617		17,745		—			56,805
Total assets	$	1,673,894	$	1,244,371	$	1,743,024	$	(1,799,749	)	$	2,861,540
LIABILITIES AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	203	$	17,796	$	204,713	$	—		$	222,712
Payable to affiliates	17		2		19,279		(3,110		)	16,188
Accrued liabilities	10,774		13,330		59,369		—			83,473
Payables to pre-petition creditors	3,130		—		—		—			3,130
Deferred revenue	—		—		20,602		—			20,602
Other current liabilities	1,249		704		1,283		—			3,236
Current portion of long-term debt	—		—		47		—			47
Total current liabilities	15,373		31,832		305,293		(3,110		)	349,388
Long-term debt	366,000		—		716,647		(55,575		)	1,027,072
Deferred income taxes	130,818		—		44,744		—			175,562
Other noncurrent liabilities	2,968		—		44,608		—			47,576
Commitments and contingencies
Owners’ equity excluding noncontrolling interests in consolidated subsidiaries	1,158,735		1,212,539		528,525		(1,741,064		)	1,158,735
Noncontrolling interests in consolidated subsidiaries	—		—		103,207		—			103,207
Total owners’ equity	1,158,735		1,212,539		631,732		(1,741,064		)	1,261,942
Total liabilities and owners’ equity	$	1,673,894	$	1,244,371	$	1,743,024	$	(1,799,749	)	$	2,861,540

	December 31, 2014
	Parent		Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	9,254	$	—	$	35,445	$	(4,101	)	$	40,598
Restricted cash	3,856		—		3,124		—			6,980
Accounts receivable, net	9,669		32,056		309,609		—			351,334
Receivable from affiliates	2,512		6,624		15,659		(7,976		)	16,819
Inventories	—		248		43,284		—			43,532
Other current assets	10,498		575		8,944		—			20,017
Total current assets	35,789		39,503		416,065		(12,077		)	479,280
Property, plant and equipment, net	4,112		452,352		800,361		—			1,256,825
Equity method investments	1,551,825		546,833		415,673		(1,936,411		)	577,920
Goodwill	—		13,052		45,274		—			58,326
Other intangible assets, net	26		152,383		20,656		—			173,065
Other noncurrent assets, net	24,555		958		18,873		—			44,386
Total assets	$	1,616,307	$	1,205,081	$	1,716,902	$	(1,948,488	)	$	2,589,802
LIABILITIES AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	649	$	22,097	$	234,431	$	—		$	257,177
Payable to affiliates	21		7		21,406		(7,974		)	13,460
Accrued liabilities	11,993		17,575		63,126		—			92,694
Payables to pre-petition creditors	3,129		—		—		—			3,129
Deferred revenue	—		—		23,688		—			23,688
Other current liabilities	224		707		543		—			1,474
Current portion of long-term debt	—		—		40		—			40
Total current liabilities	16,016		40,386		343,234		(7,974		)	391,662
Long-term debt	335,000		—		490,946		(58,854		)	767,092
Deferred income taxes	112,897		—		49,059		—			161,956
Other noncurrent liabilities	2,886		—		46,769		—			49,655
Commitments and contingencies
Owners’ equity excluding noncontrolling interests in consolidated subsidiaries	1,149,508		1,164,695		716,965		(1,881,660		)	1,149,508
Noncontrolling interests in consolidated subsidiaries	—		—		69,929		—			69,929
Total owners’ equity	1,149,508		1,164,695		786,894		(1,881,660		)	1,219,437
Total liabilities and owners’ equity	$	1,616,307	$	1,205,081	$	1,716,902	$	(1,948,488	)	$	2,589,802

Schedule of Condensed Income Statement [Table Text Block]

Condensed Consolidating Guarantor Statements of Operations

	Three Months Ended March 31, 2015
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	51,053		$	175,052		$	(5,974	)	$	220,131
Service	—			14,459			47,418			—			61,877
Other	—			—			16,302			—			16,302
Total revenues	—			65,512			238,772			(5,974		)	298,310
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			40,668			157,378			(5,974		)	192,072
Operating	—			8,114			44,976			—			53,090
General and administrative	17,602			2,064			12,644			—			32,310
Depreciation and amortization	294			7,033			16,407			—			23,734
Loss (gain) on disposal or impairment of long-lived assets, net	—			(1		)	1,059			—			1,058
Total expenses	17,896			57,878			232,464			(5,974		)	302,264
Earnings from equity method investments	14,805			16,316			20,864			(31,426		)	20,559
Operating income (loss)	(3,091		)	23,950			27,172			(31,426		)	16,605
Other expenses (income), net:
Interest expense	1,422			5,491			8,444			(766		)	14,591
Foreign currency transaction gain	—			—			(519		)	—			(519		)
Other income, net	(8,686		)	—			(65		)	766			(7,985		)
Total other expenses (income), net	(7,264		)	5,491			7,860			—			6,087
Income before income taxes	4,173			18,459			19,312			(31,426		)	10,518
Income tax expense	2,707			—			2,035			—			4,742
Net income	1,466			18,459			17,277			(31,426		)	5,776
Less: net income attributable to noncontrolling interests	—			—			4,310			—			4,310
Net income attributable to SemGroup	$	1,466		$	18,459		$	12,967		$	(31,426	)	$	1,466
Net income	$	1,466		$	18,459		$	17,277		$	(31,426	)	$	5,776
Other comprehensive income (loss), net of income taxes	8,646			—			(17,706		)	—			(9,060		)
Comprehensive income (loss)	10,112			18,459			(429		)	(31,426		)	(3,284		)
Less: comprehensive income attributable to noncontrolling interests	—			—			4,310			—			4,310
Comprehensive income (loss) attributable to SemGroup	$	10,112		$	18,459		$	(4,739	)	$	(31,426	)	$	(7,594	)

	Three Months Ended March 31, 2014
	Parent			Guarantors		Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	98,125	$	338,797		$	(9,892	)	$	427,030
Service	—			1,219		47,288			—			48,507
Other	—			—		23,346			—			23,346
Total revenues	—			99,344		409,431			(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	—			7,055		43,723			—			50,778
General and administrative	4,533			2,051		12,152			—			18,736
Depreciation and amortization	435			4,816		18,386			—			23,637
Loss (gain) on disposal of long-lived assets, net	—			10		(68		)	—			(58		)
Total expenses	4,968			91,466		391,664			(9,892		)	478,206
Earnings from equity method investments	20,902			16,336		7,695			(29,971		)	14,962
Gain on issuance of common units by equity method investee	8,127			—		—			—			8,127
Operating income	24,061			24,214		25,462			(29,971		)	43,766
Other expenses (income), net:
Interest expense	2,490			2,384		5,170			(817		)	9,227
Foreign currency transaction gain	—			—		(683		)	—			(683		)
Other income, net	(1,797		)	—		(67		)	817			(1,047		)
Total other expenses, net	693			2,384		4,420			—			7,497
Income from continuing operations before income taxes	23,368			21,830		21,042			(29,971		)	36,269
Income tax expense	9,780			—		6,746			—			16,526
Income from continuing operations	13,588			21,830		14,296			(29,971		)	19,743
Loss from discontinued operations, net of income taxes	—			—		(5		)	—			(5		)
Net income	13,588			21,830		14,291			(29,971		)	19,738
Less: net income attributable to noncontrolling interests	—			—		6,150			—			6,150
Net income attributable to SemGroup	$	13,588		$	21,830	$	8,141		$	(29,971	)	$	13,588
Net income	$	13,588		$	21,830	$	14,291		$	(29,971	)	$	19,738
Other comprehensive loss, net of income taxes	(746		)	—		(2,226		)	—			(2,972		)
Comprehensive income	12,842			21,830		12,065			(29,971		)	16,766
Less: comprehensive income attributable to noncontrolling interests	—			—		6,150			—			6,150
Comprehensive income attributable to SemGroup	$	12,842		$	21,830	$	5,915		$	(29,971	)	$	10,616

Schedule of Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidating Guarantor Statements of Cash Flows

	Three Months Ended March 31, 2015
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by operating activities	$	5,224		$	4,610		$	15,719		$	(7,009	)	$	18,544
Cash flows from investing activities:
Capital expenditures	(769		)	(34,152		)	(49,406		)	—			(84,327		)
Proceeds from sale of long-lived assets	—			12			105			—			117
Proceeds from the sale of Wattenberg Holding, LLC and Glass Mountain Holding, LLC to Rose Rock Midstream L.P.	251,181			—			—			(251,181		)	—
Contributions to equity method investments	—			—			(15,182		)	—			(15,182		)
Proceeds from sale of common units of equity method investee	29,012			—			—			—			29,012
Distributions in excess of equity in earnings of affiliates	5,435			—			5,201			(5,435		)	5,201
Net cash provided by (used in) investing activities	284,859			(34,140		)	(59,282		)	(256,616		)	(65,179		)
Cash flows from financing activities:
Debt issuance costs	(601		)	—			—			—			(601		)
Borrowings on credit facilities	110,000			—			312,000			—			422,000
Principal payments on credit facilities and other obligations	(79,000		)	—			(83,012		)	—			(162,012		)
Proceeds from issuance of Rose Rock Midstream, L.P. common units, net of offering costs	—			—			89,119			—			89,119
Distributions to noncontrolling interests	—			—			(8,953		)	—			(8,953		)
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(3,630		)	—			—			—			(3,630		)
Dividends paid	(14,846		)	—			—			—			(14,846		)
Proceeds from issuance of common stock under employee stock purchase plan	313			—			—			—			313
Intercompany borrowings (advances), net	(59,161		)	29,530			(235,187		)	264,818			—
Net cash provided by (used in) financing activities	(46,925		)	29,530			73,967			264,818			321,390
Effect of exchange rate changes on cash and cash equivalents	—			—			172			—			172
Change in cash and cash equivalents	243,158			—			30,576			1,193			274,927
Cash and cash equivalents at beginning of period	9,254			—			35,445			(4,101		)	40,598
Cash and cash equivalents at end of period	$	252,412		$	—		$	66,021		$	(2,908	)	$	315,525

	Three Months Ended March 31, 2014
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by operating activities	$	1,079		$	12,398		$	21,308		$	(5,887	)	$	28,898
Cash flows from investing activities:
Capital expenditures	(242		)	(39,476		)	(17,035		)	—			(56,753		)
Proceeds from sale of long-lived assets	—			11			684			—			695
Contributions to equity method investments	—			—			(24,251		)	—			(24,251		)
Distributions in excess of equity in earnings of affiliates	—			—			2,505			—			2,505
Net cash used in investing activities	(242		)	(39,465		)	(38,097		)	—			(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 borrowing (advances), net	(48,435		)	27,067			15,722			5,646			—
Net cash provided by financing activities	1,109			27,067			8,753			5,646			42,575
Effect of exchange rate changes on cash and cash equivalents	—			—			1,938			—			1,938
Change in cash and cash equivalents	1,946			—			(6,098		)	(241		)	(4,393		)
Cash and cash equivalents at beginning of period	2,545			—			78,342			(1,536		)	79,351
Cash and cash equivalents at end of period	$	4,491		$	—		$	72,244		$	(1,777	)	$	74,958