Condensed Consolidating Guarantor Financial Statements (Tables)

6 Months Ended

Jun. 30, 2019

Condensed Consolidating Guarantor Financial Statements [Abstract]

Schedule of Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Guarantor Balance Sheets

	June 30, 2019
	Parent		Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	220,203	$	—	$	33,238	$	(514	)	$	252,927
Accounts receivable, net	—		555,927		134,805		(27		)	690,705
Receivable from affiliates	1,056		2		124		—			1,182
Inventories	—		63,539		—		—			63,539
Current assets held for sale	—		—		1,025		—			1,025
Other current assets	7,314		15,581		11,089		—			33,984
Total current assets	228,573		635,049		180,281		(541		)	1,043,362
Property, plant and equipment, net	6,930		959,909		2,919,599		—			3,886,438
Equity method investments	2,857,808		1,543,568		—		(4,117,190		)	284,186
Goodwill	—		—		338,931		—			338,931
Other intangible assets, net	2		115,483		340,373		—			455,858
Other noncurrent assets	41,822		4,046		104,671		—			150,539
Right of use assets, net	6,706		6,174		80,209		—			93,089
Noncurrent assets held for sale	—		—		5,537		—			5,537
Total assets	$	3,141,841	$	3,264,229	$	3,969,601	$	(4,117,731	)	$	6,257,940
LIABILITIES, PREFERRED STOCK AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	237	$	532,231	$	47,813	$	(27	)	$	580,254
Payable to affiliates	—		3,242		—		—			3,242
Accrued liabilities	34,268		14,529		56,038		(5		)	104,830
Current liabilities held for sale	—		—		1,935		—			1,935
Other current liabilities	3,960		9,431		16,992		—			30,383
Total current liabilities	38,465		559,433		122,778		(32		)	720,644
Long-term debt	1,349,907		6,293		1,160,990		(6,293		)	2,510,897
Deferred income taxes	68,351		—		69,495		—			137,846
Other noncurrent liabilities	6,484		6,190		133,029		—			145,703
Commitments and contingencies
Redeemable preferred stock	372,628		—		—		—			372,628
Subsidiary redeemable preferred stock	—		—		252,876		—			252,876
Owners' equity excluding noncontrolling interests in consolidated subsidiaries	1,306,006		2,692,313		1,419,093		(4,111,406		)	1,306,006
Noncontrolling interests in consolidated subsidiaries	—		—		811,340		—			811,340
Total owners’ equity	1,306,006		2,692,313		2,230,433		(4,111,406		)	2,117,346
Total liabilities, preferred stock and owners’ equity	$	3,141,841	$	3,264,229	$	3,969,601	$	(4,117,731	)	$	6,257,940

	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, net	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, net	5		119,583		245,450		—			365,038
Other noncurrent assets	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 June 30, 2019
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	516,041		$	961		$	—		$	517,002
Service	—			26,202			66,585			(151		)	92,636
Storage	—			4,651			38,874			(2,976		)	40,549
Lease	—			—			4,034			—			4,034
Other	—			16			20,703			—			20,719
Total revenues	—			546,910			131,157			(3,127		)	674,940
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			496,022			685			(3,127		)	493,580
Operating	—			24,638			53,359			—			77,997
General and administrative	12,025			3,608			9,887			—			25,520
Depreciation and amortization	739			19,148			44,124			—			64,011
Loss (gain) on disposal of long-lived assets, net	—			3,737			5,199			—			8,936
Total expenses	12,764			547,153			113,254			(3,127		)	670,044
Earnings from equity method investments	14,132			4,436			—			(5,873		)	12,695
Operating income	1,368			4,193			17,903			(5,873		)	17,591
Other expenses (income), net:
Interest expense	24,223			350			14,485			(148		)	38,910
Foreign currency transaction gain	(970		)	—			(19		)	—			(989		)
Other income, net	(1,063		)	(11		)	(421		)	148			(1,347		)
Total other expenses, net	22,190			339			14,045			—			36,574
Income (loss) before income taxes	(20,822		)	3,854			3,858			(5,873		)	(18,983		)
Income tax expense (benefit)	4,765			—			(10,850		)	—			(6,085		)
Net income (loss)	(25,587		)	3,854			14,708			(5,873		)	(12,898		)
Less: net income attributable to noncontrolling interests	—			—			12,689			—			12,689
Net income (loss) attributable to SemGroup	$	(25,587	)	$	3,854		$	2,019		$	(5,873	)	$	(25,587	)
Net income (loss)	$	(25,587	)	$	3,854		$	14,708		$	(5,873	)	$	(12,898	)
Other comprehensive income, net of income tax	10,794			166			16,427			—			27,387
Comprehensive income (loss)	(14,793		)	4,020			31,135			(5,873		)	14,489
Less: net income attributable to noncontrolling interests	—			—			12,689			—			12,689
Less: other comprehensive income attributable to noncontrolling interests	—			—			8,018			—			8,018
Comprehensive income (loss) attributable to SemGroup	$	(14,793	)	$	4,020		$	10,428		$	(5,873	)	$	(6,218	)

	Three Months Ended June 30, 2018
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	423,290		$	—		$	—		$	423,290
Service	—			35,172			74,332			—			109,504
Storage	—			5,933			33,530			—			39,463
Lease	—			—			4,251			—			4,251
Other	—			—			19,286			—			19,286
Total revenues	—			464,395			131,399			—			595,794
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			411,982			107			—			412,089
Operating	—			28,632			61,613			—			90,245
General and administrative	6,489			6,091			10,306			—			22,886
Depreciation and amortization	770			19,622			31,363			—			51,755
Loss (gain) on disposal of long-lived assets, net	83,322			(72,324		)	(9,174		)	—			1,824
Total expenses	90,581			394,003			94,215			—			578,799
Earnings from equity method investments	100,135			28,424			—			(114,208		)	14,351
Operating income	9,554			98,816			37,184			(114,208		)	31,346
Other expenses (income), net:
Interest expense	17,862			11,966			6,076			—			35,904
Foreign currency transaction loss (gain)	2,063			344			(93		)	—			2,314
Other income, net	(121		)	(3		)	(409		)	—			(533		)
Total other expenses, net	19,804			12,307			5,574			—			37,685
Income (loss) before income taxes	(10,250		)	86,509			31,610			(114,208		)	(6,339		)
Income tax expense (benefit)	(7,524		)	—			3,911			—			(3,613		)
Net income (loss)	(2,726		)	86,509			27,699			(114,208		)	(2,726		)
Other comprehensive income (loss), net of income taxes	(4,479		)	411			10,248			—			6,180
Comprehensive income (loss)	$	(7,205	)	$	86,920		$	37,947		$	(114,208	)	$	3,454

	Six Months Ended June 30, 2019
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	936,274		$	961		$	—		$	937,235
Service	—			54,244			125,970			(205		)	180,009
Storage	—			10,044			78,765			(5,952		)	82,857
Lease	—			—			7,916			—			7,916
Other	—			83			34,072			—			34,155
Total revenues	—			1,000,645			247,684			(6,157		)	1,242,172
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			902,028			1,081			(6,157		)	896,952
Operating	—			48,555			92,649			—			141,204
General and administrative	28,349			7,264			19,454			—			55,067
Depreciation and amortization	1,410			38,145			83,492			—			123,047
Loss (gain) on disposal of long-lived assets, net	—			3,118			4,374			—			7,492
Total expenses	29,759			999,110			201,050			(6,157		)	1,223,762
Earnings from equity method investments	43,487			23,431			—			(40,272		)	26,646
Operating income	13,728			24,966			46,634			(40,272		)	45,056
Other expenses (income), net:
Interest expense	49,732			636			25,342			(148		)	75,562
Foreign currency transaction gain	(1,256		)	—			(21		)	—			(1,277		)
Other income, net	(1,654		)	(51		)	(769		)	148			(2,326		)
Total other expenses, net	46,822			585			24,552			—			71,959
Income (loss) before income taxes	(33,094		)	24,381			22,082			(40,272		)	(26,903		)
Income tax benefit	(668		)	—			(10,023		)	—			(10,691		)
Net income (loss)	(32,426		)	24,381			32,105			(40,272		)	(16,212		)
Less: net income attributable to noncontrolling interests	—			—			16,214			—			16,214
Net income (loss) attributable to SemGroup	$	(32,426	)	$	24,381		$	15,891		$	(40,272	)	$	(32,426	)
Net income (loss)	$	(32,426	)	$	24,381		$	32,105		$	(40,272	)	$	(16,212	)
Other comprehensive income (loss), net of income taxes	(9,623		)	22			22,755			—			13,154
Comprehensive income (loss)	(42,049		)	24,403			54,860			(40,272		)	(3,058		)
Less: net income attributable to noncontrolling interests	—			—			16,214			—			16,214
Less: other comprehensive income attributable to noncontrolling interests	—			—			13,598			—			13,598
Comprehensive income (loss) attributable to SemGroup	$	(42,049	)	$	24,403		$	25,048		$	(40,272	)	$	(32,870	)

	Six Months Ended June 30, 2018
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	902,739		$	31,319		$	—		$	934,058
Service	—			66,662			129,510			—			196,172
Storage	—			11,950			72,737			—			84,687
Lease	—			—			8,580			—			8,580
Other	—			—			33,906			—			33,906
Total revenues	—			981,351			276,052			—			1,257,403
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			881,980			26,241			—			908,221
Operating	—			56,173			103,863			—			160,036
General and administrative	12,975			11,859			24,529			—			49,363
Depreciation and amortization	1,494			38,353			62,444			—			102,291
Loss (gain) on disposal of long-lived assets, net	132,610			(151,052		)	16,700			—			(1,742		)
Total expenses	147,079			837,313			233,777			—			1,218,169
Earnings from equity method investments	159,581			28,981			—			(161,597		)	26,965
Operating income	12,502			173,019			42,275			(161,597		)	66,199
Other expenses (income), net:
Interest expense	31,241			35,530			11,834			(240		)	78,365
Foreign currency transaction loss (gain)	6,466			147			(1,005		)	—			5,608
Other income, net	(856		)	(8		)	(859		)	240			(1,483		)
Total other expenses, net	36,851			35,669			9,970			—			82,490
Income (loss) before income taxes	(24,349		)	137,350			32,305			(161,597		)	(16,291		)
Income tax expense	11,412			—			8,058			—			19,470
Net income (loss)	(35,761		)	137,350			24,247			(161,597		)	(35,761		)
Other comprehensive income (loss), net of income taxes	(10,091		)	155			34,287			—			24,351
Comprehensive income (loss)	(45,852		)	137,505			58,534			(161,597		)	(11,410		)

Schedule of Condensed Cash Flow Statement [Table Text Block]

	Six Months Ended June 30, 2019
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	(69,813	)	$	43,647		$	56,055		$	(3	)	$	29,886
Cash flows from investing activities:
Capital expenditures	(1,606		)	(6,489		)	(176,156		)	—			(184,251		)
Proceeds from sale of long-lived assets	—			598			1,081			—			1,679
Contributions to equity method investments	—			(20,017		)	—			—			(20,017		)
Payments to acquire businesses	—			—			(488,297		)	—			(488,297		)
Distributions in excess of equity in earnings of affiliates	—			9,861			—			—			9,861
Net cash provided (used in) investing activities	(1,606		)	(16,047		)	(663,372		)	—			(681,025		)
Cash flows from financing activities:
Debt issuance costs	—			—			(13,193		)	—			(13,193		)
Borrowings on credit facilities and issuance of senior notes, net of discount	95,500			—			460,522			—			556,022
Principal payments on credit facilities and other obligations	(217,628		)	—			(104,925		)	—			(322,553		)
Proceeds from issuance of common stock, net of offering costs	—			—			448,443			—			448,443
Proceeds from issuance of preferred stock, net of offering costs	—			—			223,280			—			223,280
Contributions from noncontrolling interests	—			—			70,521			—			70,521
Distributions to noncontrolling interests	(14,175		)	—			(58,248		)	—			(72,423		)
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(716		)	—			—			—			(716		)
Dividends paid	(75,736		)	—			—			—			(75,736		)
Proceeds from issuance of common stock under employee stock purchase plan	218			—			148			—			366
Intercompany borrowings (advances), net	464,095			(27,600		)	(440,135		)	3,640			—
Net cash provided by (used in) financing activities	251,558			(27,600		)	586,413			3,640			814,011
Effect of exchange rate changes on cash and cash equivalents	—			—			3,400			—			3,400
Change in cash and cash equivalents	180,139			—			(17,504		)	3,637			166,272
Cash and cash equivalents at beginning of period	40,064			—			50,742			(4,151		)	86,655
Cash and cash equivalents at end of period	$	220,203		$	—		$	33,238		$	(514	)	$	252,927

	Six Months Ended June 30, 2018
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	(48,349	)	$	58,071		$	86,724		$	—		$	96,446
Cash flows from investing activities:
Capital expenditures	(747		)	(47,205		)	(186,342		)	—			(234,294		)
Proceeds from sale of long-lived assets	—			212			(58		)	—			154
Proceeds from business divestiture	155,447			6,753			(15,465		)	—			146,735
Contributions to equity method investments	—			(2,453		)	—			—			(2,453		)
Distributions in excess of equity in earnings of affiliates	—			11,636			—			—			11,636
Net cash provided by (used in) investing activities	154,700			(31,057		)	(201,865		)	—			(78,222		)
Cash flows from financing activities:
Debt issuance costs	(475		)	—			(3,994		)	—			(4,469		)
Borrowings on credit facilities and issuance of senior notes, net of discount	399,000			—			598,500			—			997,500
Principal payments on credit facilities and other obligations	(157,769		)	(565,904		)	(592,125		)	—			(1,315,798		)
Proceeds from issuance of preferred stock, net of offering costs	342,299			—			—			—			342,299
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(699		)	—			—			—			(699		)
Dividends paid	(74,423		)	—			—			—			(74,423		)
Proceeds from issuance of common stock under employee stock purchase plan	245			—			—			—			245
Intercompany borrowing (advances), net	(630,840		)	538,904			85,510			6,426			—
Net cash provided by (used in) financing activities	(122,662		)	(27,000		)	87,891			6,426			(55,345		)
Effect of exchange rate changes on cash and cash equivalents	—			(14		)	(1,240		)	—			(1,254		)
Change in cash and cash equivalents	(16,311		)	—			(28,490		)	6,426			(38,375		)
Cash and cash equivalents at beginning of period	32,457			—			69,872			(8,630		)	93,699
Cash and cash equivalents at end of period	$	16,146		$	—		$	41,382		$	(2,204	)	$	55,324