Condensed Consolidating Guarantor Financial Statements (Tables)

6 Months Ended

Jun. 30, 2015

Condensed Consolidating Guarantor Financial Statements [Abstract]

Schedule of Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Guarantor Balance Sheets

	June 30, 2015
	Parent		Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	118,060	$	—	$	112,980	$	(2,257	)	$	228,783
Restricted cash	—		—		34		—			34
Accounts receivable, net	641		24,165		325,125		—			349,931
Receivable from affiliates	1,545		2,372		17,732		(3,477		)	18,172
Inventories	—		233		77,444		—			77,677
Other current assets	8,464		786		11,310		—			20,560
Total current assets	128,710		27,556		544,625		(5,734		)	695,157
Property, plant and equipment, net	4,597		513,308		902,289		—			1,420,194
Equity method investments	1,464,091		397,479		426,058		(1,738,797		)	548,831
Goodwill	—		13,052		44,971		—			58,023
Other intangible assets, net	23		148,283		19,383		—			167,689
Other noncurrent assets, net	33,488		2,965		23,042		—			59,495
Total assets	$	1,630,909	$	1,102,643	$	1,960,368	$	(1,744,531	)	$	2,949,389
LIABILITIES AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	1,005	$	13,846	$	264,052	$	—		$	278,903
Payable to affiliates	11		15		22,491		(3,477		)	19,040
Accrued liabilities	9,160		10,928		79,309		(4		)	99,393
Deferred revenue	—		—		21,071		—			21,071
Other current liabilities	1,071		—		623		—			1,694
Current portion of long-term debt	—		—		44		—			44
Total current liabilities	11,247		24,789		387,590		(3,481		)	420,145
Long-term debt	300,000		—		800,788		(56,449		)	1,044,339
Deferred income taxes	143,978		—		47,193		—			191,171
Other noncurrent liabilities	2,387		—		19,712		—			22,099
Commitments and contingencies
Owners’ equity excluding noncontrolling interests in consolidated subsidiaries	1,173,297		1,077,854		606,747		(1,684,601		)	1,173,297
Noncontrolling interests in consolidated subsidiaries	—		—		98,338		—			98,338
Total owners’ equity	1,173,297		1,077,854		705,085		(1,684,601		)	1,271,635
Total liabilities and owners’ equity	$	1,630,909	$	1,102,643	$	1,960,368	$	(1,744,531	)	$	2,949,389

	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		348,115		415,673		(1,737,693		)	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	$	1,006,363	$	1,716,902	$	(1,749,770	)	$	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		965,977		716,965		(1,682,942		)	1,149,508
Noncontrolling interests in consolidated subsidiaries	—		—		69,929		—			69,929
Total owners’ equity	1,149,508		965,977		786,894		(1,682,942		)	1,219,437
Total liabilities and owners’ equity	$	1,616,307	$	1,006,363	$	1,716,902	$	(1,749,770	)	$	2,589,802

Schedule of Condensed Income Statement [Table Text Block]

Condensed Consolidating Guarantor Statements of Operations

	Three Months Ended June 30, 2015
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	50,293		$	244,886		$	(6,443	)	$	288,736
Service	—			15,743			50,861			—			66,604
Other	—			—			21,886			—			21,886
Total revenues	—			66,036			317,633			(6,443		)	377,226
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			35,632			214,969			(6,443		)	244,158
Operating	—			8,822			51,978			—			60,800
General and administrative	4,626			2,642			15,649			—			22,917
Depreciation and amortization	329			7,255			17,090			—			24,674
Loss on disposal or impairment of long-lived assets, net	—			108			1,264			—			1,372
Total expenses	4,955			54,459			300,950			(6,443		)	353,921
Earnings from equity method investments	28,583			15,048			17,683			(37,411		)	23,903
Gain on issuance of common units by equity method investee	5,897			—			—			—			5,897
Operating income	29,525			26,625			34,366			(37,411		)	53,105
Other expenses (income), net:
Interest expense	781			6,160			10,614			(733		)	16,822
Foreign currency transaction gain	(5		)	—			(290		)	—			(295		)
Other income, net	(7,401		)	—			(50		)	733			(6,718		)
Total other expense (income), net	(6,625		)	6,160			10,274			—			9,809
Income from continuing operations before income taxes	36,150			20,465			24,092			(37,411		)	43,296
Income tax expense	12,853			—			2,008			—			14,861
Income from continuing operations	23,297			20,465			22,084			(37,411		)	28,435
Loss from discontinued operations, net of income taxes	—			(1		)	(1		)	—			(2		)
Net income	23,297			20,464			22,083			(37,411		)	28,433
Less: net income attributable to noncontrolling interests	—			—			5,136			—			5,136
Net income attributable to SemGroup	$	23,297		$	20,464		$	16,947		$	(37,411	)	$	23,297
Net income	$	23,297		$	20,464		$	22,083		$	(37,411	)	$	28,433
Other comprehensive income (loss), net of income taxes	(2,346		)	—			7,866			—			5,520
Comprehensive income	20,951			20,464			29,949			(37,411		)	33,953
Less: comprehensive income attributable to noncontrolling interests	—			—			5,136			—			5,136
Comprehensive income attributable to SemGroup	$	20,951		$	20,464		$	24,813		$	(37,411	)	$	28,817

	Three Months Ended June 30, 2014
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	82,212		$	330,549		$	(9,775	)	$	402,986
Service	—			9,593			43,857			—			53,450
Other	—			—			25,788			—			25,788
Total revenues	—			91,805			400,194			(9,775		)	482,224
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			67,306			310,996			(9,775		)	368,527
Operating	—			8,041			51,383			—			59,424
General and administrative	4,985			2,250			14,615			—			21,850
Depreciation and amortization	417			7,114			14,531			—			22,062
Loss (gain) on disposal or impairment of long-lived assets, net	5,945			54,695			(41,325		)	—			19,315
Total expenses	11,347			139,406			350,200			(9,775		)	491,178
Earnings from equity method investments	10,493			49,289			10,136			(50,731		)	19,187
Operating income (loss)	(854		)	1,688			60,130			(50,731		)	10,233
Other expenses (income), net:
Interest expense	3,093			2,013			6,086			(832		)	10,360
Foreign currency transaction loss	—			—			167			—			167
Other expense, net	18,099			—			31			832			18,962
Total other expenses, net	21,192			2,013			6,284			—			29,489
Income (loss) from continuing operations before income taxes	(22,046		)	(325		)	53,846			(50,731		)	(19,256		)
Income tax benefit	(4,437		)	—			(2,235		)	—			(6,672		)
Net income (loss)	(17,609		)	(325		)	56,081			(50,731		)	(12,584		)
Less: net income attributable to noncontrolling interests	—			—			5,025			—			5,025
Net income (loss) attributable to SemGroup	$	(17,609	)	$	(325	)	$	51,056		$	(50,731	)	$	(17,609	)
Net income (loss)	$	(17,609	)	$	(325	)	$	56,081		$	(50,731	)	$	(12,584	)
Other comprehensive income (loss), net of income taxes	(1,680		)	—			8,365			—			6,685
Comprehensive income (loss)	(19,289		)	(325		)	64,446			(50,731		)	(5,899		)
Less: comprehensive income attributable to noncontrolling interests	—			—			5,025			—			5,025
Comprehensive income (loss) attributable to SemGroup	$	(19,289	)	$	(325	)	$	59,421		$	(50,731	)	$	(10,924	)

	Six Months Ended June 30, 2015
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	101,346		$	419,938		$	(12,417	)	$	508,867
Service	—			30,202			98,279			—			128,481
Other	—			—			38,188			—			38,188
Total revenues	—			131,548			556,405			(12,417		)	675,536
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			76,300			372,347			(12,417		)	436,230
Operating	—			16,936			96,954			—			113,890
General and administrative	22,228			4,706			28,293			—			55,227
Depreciation and amortization	623			14,288			33,497			—			48,408
Loss on disposal of long-lived assets, net	—			107			2,323			—			2,430
Total expenses	22,851			112,337			533,414			(12,417		)	656,185
Earnings from equity method investments	43,388			27,576			38,547			(65,049		)	44,462
Gain on issuance of common units by equity method investee	5,897			—			—			—			5,897
Operating income	26,434			46,787			61,538			(65,049		)	69,710
Other expenses (income), net:
Interest expense	2,203			11,651			19,058			(1,499		)	31,413
Foreign currency transaction gain	(5		)	—			(809		)	—			(814		)
Other income, net	(16,087		)	—			(115		)	1,499			(14,703		)
Total other expense (income), net	(13,889		)	11,651			18,134			—			15,896
Income from continuing operations before income taxes	40,323			35,136			43,404			(65,049		)	53,814
Income tax expense	15,560			—			4,043			—			19,603
Income from continuing operations	24,763			35,136			39,361			(65,049		)	34,211
Loss from discontinued operations, net of income taxes	—			(1		)	(1		)	—			(2		)
Net income	24,763			35,135			39,360			(65,049		)	34,209
Less: net income attributable to noncontrolling interests	—			—			9,446			—			9,446
Net income attributable to SemGroup	$	24,763		$	35,135		$	29,914		$	(65,049	)	$	24,763
Net income	$	24,763		$	35,135		$	39,360		$	(65,049	)	$	34,209
Other comprehensive income (loss), net of income taxes	6,300			—			(9,840		)	—			(3,540		)
Comprehensive income	31,063			35,135			29,520			(65,049		)	30,669
Less: comprehensive income attributable to noncontrolling interests	—			—			9,446			—			9,446
Comprehensive income attributable to SemGroup	$	31,063		$	35,135		$	20,074		$	(65,049	)	$	21,223

	Six Months Ended June 30, 2014
	Parent			Guarantors		Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	180,337	$	669,346		$	(19,667	)	$	830,016
Service	—			10,812		91,145			—			101,957
Other	—			—		49,134			—			49,134
Total revenues	—			191,149		809,625			(19,667		)	981,107
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			144,840		628,467			(19,667		)	753,640
Operating	—			15,096		95,106			—			110,202
General and administrative	9,518			4,301		26,767			—			40,586
Depreciation and amortization	852			11,930		32,917			—			45,699
Loss (gain) on disposal of long-lived assets, net	5,945			54,705		(41,393		)	—			19,257
Total expenses	16,315			230,872		741,864			(19,667		)	969,384
Earnings from equity method investments	31,319			59,779		17,832			(74,781		)	34,149
Gain on issuance of common units by equity method investee	8,127			—		—			—			8,127
Operating income	23,131			20,056		85,593			(74,781		)	53,999
Other expenses (income), net:
Interest expense	5,583			4,397		11,256			(1,649		)	19,587
Foreign currency transaction gain	—			—		(516		)	—			(516		)
Other expense (income), net	16,301			—		(35		)	1,649			17,915
Total other expenses, net	21,884			4,397		10,705			—			36,986
Income from continuing operations before income taxes	1,247			15,659		74,888			(74,781		)	17,013
Income tax expense	5,343			—		4,511			—			9,854
Income (loss) from continuing operations	(4,096		)	15,659		70,377			(74,781		)	7,159
Loss from discontinued operations, net of income taxes	—			—		(5		)	—			(5		)
Net income (loss)	(4,096		)	15,659		70,372			(74,781		)	7,154
Less: net income attributable to noncontrolling interests	—			—		11,250			—			11,250
Net income (loss) attributable to SemGroup	$	(4,096	)	$	15,659	$	59,122		$	(74,781	)	$	(4,096	)
Net income (loss)	(4,096		)	15,659		70,372			(74,781		)	7,154
Other comprehensive income (loss), net of income taxes	(2,426		)	—		6,139			—			3,713
Comprehensive income (loss)	(6,522		)	15,659		76,511			(74,781		)	10,867
Less: comprehensive income attributable to noncontrolling interests	—			—		11,250			—			11,250
Comprehensive income (loss) attributable to SemGroup	$	(6,522	)	$	15,659	$	65,261		$	(74,781	)	$	(383	)

Schedule of Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidating Guarantor Statements of Cash Flows

	Six Months Ended June 30, 2015
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by operating activities	$	19,092		$	18,222		$	55,462		$	(19,819	)	$	72,957
Cash flows from investing activities:
Capital expenditures	(1,105		)	(73,195		)	(162,656		)	—			(236,956		)
Proceeds from sale of long-lived assets	—			20			210			—			230
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	—			—			(23,461		)	—			(23,461		)
Proceeds from sale of common units of equity method investee	56,318			—			—			—			56,318
Distributions in excess of equity in earnings of affiliates	11,676			—			13,077			(11,676		)	13,077
Net cash provided by (used in) investing activities	318,070			(73,175		)	(172,830		)	(262,857		)	(190,792		)
Cash flows from financing activities:
Debt issuance costs	(601		)	—			(5,688		)	—			(6,289		)
Borrowings on credit facilities	126,000			—			676,208			—			802,208
Principal payments on credit facilities and other obligations	(161,000		)	—			(364,024		)	—			(525,024		)
Proceeds from issuance of Rose Rock Midstream, L.P. common units, net of offering costs	—			—			89,119			—			89,119
Distributions to noncontrolling interests	—			—			(19,261		)	—			(19,261		)
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(4,254		)	—			—			—			(4,254		)
Dividends paid	(31,478		)	—			—			—			(31,478		)
Proceeds from issuance of common stock under employee stock purchase plan	609			—			—			—			609
Intercompany borrowings (advances), net	(157,632		)	54,953			(181,841		)	284,520			—
Net cash provided by (used in) financing activities	(228,356		)	54,953			194,513			284,520			305,630
Effect of exchange rate changes on cash and cash equivalents	—			—			390			—			390
Change in cash and cash equivalents	108,806			—			77,535			1,844			188,185
Cash and cash equivalents at beginning of period	9,254			—			35,445			(4,101		)	40,598
Cash and cash equivalents at end of period	$	118,060		$	—		$	112,980		$	(2,257	)	$	228,783

	Six Months Ended June 30, 2014
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by operating activities	$	5,730		$	29,829		$	31,708		$	(11,718	)	$	55,549
Cash flows from investing activities:
Capital expenditures	(734		)	(79,013		)	(47,921		)	—			(127,668		)
Proceeds from sale of long-lived assets	—			2,361			1,659			—			4,020
Contributions to equity method investments	—			—			(67,977		)	—			(67,977		)
Proceeds from the sale of interest in SemCrude Pipeline, L.L.C. to Rose Rock Midstream L.P.	114,412			—			—			(114,412		)	—
Payments to acquire businesses	—			(514		)	(43,994		)	—			(44,508		)
Distributions in excess of equity in earnings of affiliates	1,254			—			5,400			(1,254		)	5,400
Net cash provided by (used in) investing activities	114,932			(77,166		)	(152,833		)	(115,666		)	(230,733		)
Cash flows from financing activities:
Debt issuance costs	(93		)	—			(62		)	—			(155		)
Borrowings on credit facilities	233,500			—			300,330			—			533,830
Principal payments on credit facilities and other obligations	(238,000		)	—			(93,518		)	—			(331,518		)
Distributions to noncontrolling interests	—			—			(13,209		)	—			(13,209		)
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(719		)	—			—			—			(719		)
Dividends paid	(19,628		)	—			—			—			(19,628		)
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	(93,180		)	47,337			(80,018		)	125,861			—
Net cash provided by (used in) financing activities	(116,382		)	47,337			113,523			125,861			170,339
Effect of exchange rate changes on cash and cash equivalents	—			—			832			—			832
Change in cash and cash equivalents	4,280			—			(6,770		)	(1,523		)	(4,013		)
Cash and cash equivalents at beginning of period	2,545			—			78,342			(1,536		)	79,351
Cash and cash equivalents at end of period	$	6,825		$	—		$	71,572		$	(3,059	)	$	75,338