Condensed Consolidating Guarantor Financial Statements (Tables)

3 Months Ended

Mar. 31, 2019

Condensed Consolidating Guarantor Financial Statements [Abstract]

Schedule of Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Guarantor Balance Sheets

	March 31, 2019
	Parent		Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	275,687	$	—	$	69,431	$	(1,558	)	$	343,560
Accounts receivable	1		650,600		130,355		—			780,956
Receivable from affiliates	166		85		283		—			534
Inventories	—		77,120		—		—			77,120
Other current assets	6,633		4,845		7,233		—			18,711
Total current assets	282,487		732,650		207,302		(1,558		)	1,220,881
Property, plant and equipment, net	6,956		986,165		2,852,387		—			3,845,508
Equity method investments	2,839,934		1,709,433		—		(4,272,474		)	276,893
Goodwill	—		—		334,893		—			334,893
Other intangible assets	3		117,533		349,398		—			466,934
Other noncurrent assets, net	31,653		4,675		98,519		—			134,847
Right of use assets, net	7,133		6,534		80,415		—			94,082
Total assets	$	3,168,166	$	3,556,990	$	3,922,914	$	(4,274,032	)	$	6,374,038
LIABILITIES, PREFERRED STOCK AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	136	$	689,162	$	61,337	$	—		$	750,635
Payable to affiliates	6		1,036		—		—			1,042
Accrued liabilities	22,087		10,319		68,535		—			100,941
Other current liabilities	5,245		4,583		18,197		—			28,025
Total current liabilities	27,474		705,100		148,069		—			880,643
Long-term debt	1,348,742		6,458		1,112,841		(6,458		)	2,461,583
Deferred income taxes	63,672		—		78,789		—			142,461
Other noncurrent liabilities	6,977		6,616		128,945		—			142,538
Commitments and contingencies
Redeemable preferred stock	366,087		—		—		—			366,087
Subsidiary redeemable preferred stock	—		—		250,239		—			250,239
Owners' equity excluding noncontrolling interests in consolidated subsidiaries	1,355,214		2,838,816		1,428,758		(4,267,574		)	1,355,214
Noncontrolling interests in consolidated subsidiaries	—		—		775,273		—			775,273
Total owners’ equity	1,355,214		2,838,816		2,204,031		(4,267,574		)	2,130,487
Total liabilities, preferred stock and owners’ equity	$	3,168,166	$	3,556,990	$	3,922,914	$	(4,274,032	)	$	6,374,038

	December 31, 2018
	Parent		Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	40,064	$	—	$	50,742	$	(4,151	)	$	86,655
Accounts receivable	83		461,980		100,151		—			562,214
Receivable from affiliates	120		18		157		—			295
Inventories	—		49,397		—		—			49,397
Other current assets	6,682		6,711		3,871		—			17,264
Total current assets	46,949		518,106		154,921		(4,151		)	715,825
Property, plant and equipment, net	6,732		992,974		2,457,620		—			3,457,326
Equity method investments	3,267,581		1,553,360		—		(4,546,932		)	274,009
Goodwill	—		—		257,302		—			257,302
Other intangible assets	5		119,583		245,450		—			365,038
Other noncurrent assets, net	41,981		4,788		94,038		—			140,807
Total assets	$	3,363,248	$	3,188,811	$	3,209,331	$	(4,551,083	)	$	5,210,307
LIABILITIES, PREFERRED STOCK AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	38	$	444,984	$	49,770	$	—		$	494,792
Payable to affiliates	1		3,714		—		—			3,715
Accrued liabilities	33,239		18,424		63,430		2			115,095
Other current liabilities	5,723		3,409		14,423		—			23,555
Total current liabilities	39,001		470,531		127,623		2			637,157
Long-term debt	1,467,083		6,315		811,751		(6,315		)	2,278,834
Deferred income taxes	4,882		—		50,907		—			55,789
Other noncurrent liabilities	1,792		—		36,756		—			38,548
Commitments and contingencies
Redeemable preferred stock	359,658		—		—		—			359,658
Owners' equity excluding noncontrolling interest in consolidated subsidiary	1,490,832		2,711,965		1,832,805		(4,544,770		)	1,490,832
Noncontrolling interest in consolidated subsidiary	—		—		349,489		—			349,489
Total owners’ equity	1,490,832		2,711,965		2,182,294		(4,544,770		)	1,840,321
Total liabilities, preferred stock and owners’ equity	$	3,363,248	$	3,188,811	$	3,209,331	$	(4,551,083	)	$	5,210,307

Schedule of Condensed Income Statement [Table Text Block]

Condensed Consolidating Guarantor Statements of Operations

	Three Months Ended March 31, 2019
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	420,233		$	—		$	—		$	420,233
Service	—			28,042			59,385			(54		)	87,373
Storage	—			5,393			39,891			(2,976		)	42,308
Lease	—			—			3,882			—			3,882
Other	—			67			13,369			—			13,436
Total revenues	—			453,735			116,527			(3,030		)	567,232
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			406,006			396			(3,030		)	403,372
Operating	—			23,917			39,290			—			63,207
General and administrative	16,324			3,657			9,566			—			29,547
Depreciation and amortization	671			18,997			39,368			—			59,036
Loss (gain) on disposal of long-lived assets, net	—			(619		)	(825		)	—			(1,444		)
Total expenses	16,995			451,958			87,795			(3,030		)	553,718
Earnings from equity method investments	29,355			18,995			—			(34,399		)	13,951
Operating income	12,360			20,772			28,732			(34,399		)	27,465
Other expenses (income), net:
Interest expense	25,509			286			10,857			—			36,652
Foreign currency transaction gain	(286		)	—			(2		)	—			(288		)
Other income, net	(591		)	(40		)	(348		)	—			(979		)
Total other expenses, net	24,632			246			10,507			—			35,385
Income (loss) before income taxes	(12,272		)	20,526			18,225			(34,399		)	(7,920		)
Income tax expense (benefit)	(5,433		)	—			827			—			(4,606		)
Net income (loss)	(6,839		)	20,526			17,398			(34,399		)	(3,314		)
Less: net income attributable to noncontrolling interests	—			—			3,525			—			3,525
Net income (loss) attributable to SemGroup	$	(6,839	)	$	20,526		$	13,873		$	(34,399	)	$	(6,839	)
Net income (loss)	$	(6,839	)	$	20,526		$	17,398		$	(34,399	)	$	(3,314	)
Other comprehensive income (loss), net of income taxes	(20,417		)	6,103			81			—			(14,233		)
Comprehensive income (loss)	(27,256		)	26,629			17,479			(34,399		)	(17,547		)
Less: net income attributable to noncontrolling interests	—			—			3,525			—			3,525
Less: other comprehensive income attributable to noncontrolling interests	—			—			5,580			—			5,580
Comprehensive income (loss) attributable to SemGroup	$	(27,256	)	$	26,629		$	8,374		$	(34,399	)	$	(26,652	)

	Three Months Ended March 31, 2018
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	479,449		$	31,319		$	—		$	510,768
Service	—			31,490			60,754			—			92,244
Storage	—			6,019			33,632			—			39,651
Lease	—			—			4,329			—			4,329
Other	—			—			14,617			—			14,617
Total revenues	—			516,958			144,651			—			661,609
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			469,998			26,134			—			496,132
Operating	—			27,541			42,250			—			69,791
General and administrative	6,486			5,769			14,222			—			26,477
Depreciation and amortization	724			18,731			31,081			—			50,536
Loss (gain) on disposal of long-lived assets, net	49,288			(78,729		)	25,875			—			(3,566		)
Total expenses	56,498			443,310			139,562			—			639,370
Earnings from equity method investments	59,446			(54		)	—			(46,778		)	12,614
Operating income	2,948			73,594			5,089			(46,778		)	34,853
Other expenses (income), net:
Interest expense	13,379			23,565			5,757			(240		)	42,461
Foreign currency transaction loss (gain)	4,403			(197		)	(912		)	—			3,294
Other income, net	(735		)	(5		)	(450		)	240			(950		)
Total other expenses, net	17,047			23,363			4,395			—			44,805
Income (loss) before income taxes	(14,099		)	50,231			694			(46,778		)	(9,952		)
Income tax expense	18,936			—			4,147			—			23,083
Net income (loss)	(33,035		)	50,231			(3,453		)	(46,778		)	(33,035		)
Other comprehensive income (loss), net of income taxes	(5,612		)	(256		)	24,039			—			18,171
Comprehensive income (loss)	$	(38,647	)	$	49,975		$	20,586		$	(46,778	)	$	(14,864	)

Schedule of Condensed Cash Flow Statement [Table Text Block]

	Three Months Ended March 31, 2019
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	(40,936	)	$	60,195		$	40,038		$	(6,458	)	$	52,839
Cash flows from investing activities:
Capital expenditures	(894		)	(9,835		)	(85,532		)	—			(96,261		)
Proceeds from sale of long-lived assets	—			773			1,342			—			2,115
Contributions to equity method investments	—			(9,409		)	—			—			(9,409		)
Payments to acquire businesses	—			—			(488,297		)	—			(488,297		)
Distributions in excess of equity in earnings of affiliates	—			6,538			—			—			6,538
Net cash provided (used in) investing activities	(894		)	(11,933		)	(572,487		)	—			(585,314		)
Cash flows from financing activities:
Debt issuance costs	—			—			(8,341		)	—			(8,341		)
Borrowings on credit facilities and issuance of senior notes, net of discount	95,500			—			325,506			—			421,006
Principal payments on credit facilities and other obligations	(217,413		)	—			(16,463		)	—			(233,876		)
Proceeds from issuance of common stock, net of offering costs	—			—			437,469			—			437,469
Proceeds from issuance of preferred stock, net of offering costs	—			—			223,280			—			223,280
Distributions to noncontrolling interests	(7,580		)	—			—			—			(7,580		)
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(680		)	—			—			—			(680		)
Dividends paid	(44,824		)	—			—			—			(44,824		)
Proceeds from issuance of common stock under employee stock purchase plan	89			—			48			—			137
Intercompany borrowings (advances), net	452,361			(48,262		)	(413,150		)	9,051			—
Net cash provided by (used in) financing activities	277,453			(48,262		)	548,349			9,051			786,591
Effect of exchange rate changes on cash and cash equivalents	—			—			2,789			—			2,789
Change in cash and cash equivalents	235,623			—			18,689			2,593			256,905
Cash and cash equivalents at beginning of period	40,064			—			50,742			(4,151		)	86,655
Cash and cash equivalents at end of period	$	275,687		$	—		$	69,431		$	(1,558	)	$	343,560

	Three Months Ended March 31, 2018
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	(31,162	)	$	51,069		$	63,673		$	—		$	83,580
Cash flows from investing activities:
Capital expenditures	(436		)	(29,872		)	(101,476		)	—			(131,784		)
Proceeds from sale of long-lived assets	—			—			16			—			16
Proceeds from the sale of Mexican asphalt business, net	78,729			—			(14,899		)	—			63,830
Contributions to equity method investments	—			(309		)	—			—			(309		)
Distributions in excess of equity in earnings of affiliates	—			6,545			—			—			6,545
Net cash provided by (used in) investing activities	78,293			(23,636		)	(116,359		)	—			(61,702		)
Cash flows from financing activities:
Debt issuance costs	(459		)	—			—			—			(459		)
Borrowings on credit facilities and issuance of senior notes, net of discount	—			—			—			—			—
Principal payments on credit facilities and other obligations	(132,863		)	(8		)	(1,375		)	—			(134,246		)
Debt extinguishment costs	—			—			—			—			—
Proceeds from issuance of preferred stock, net of offering costs	342,354			—			—			—			342,354
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(381		)	—			—			—			(381		)
Dividends paid	(37,230		)	—			—			—			(37,230		)
Proceeds from issuance of common stock under employee stock purchase plan	24			—			—			—			24
Intercompany borrowing (advances), net	(17,751		)	(27,425		)	41,409			3,767			—
Net cash provided by (used in) financing activities	153,694			(27,433		)	40,034			3,767			170,062
Effect of exchange rate changes on cash and cash equivalents	—			—			(141		)	—			(141		)
Change in cash and cash equivalents	200,825			—			(12,793		)	3,767			191,799
Cash and cash equivalents at beginning of period	32,457			—			69,872			(8,630		)	93,699
Cash and cash equivalents at end of period	$	233,282		$	—		$	57,079		$	(4,863	)	$	285,498