XML 28 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES:      
Net loss $ (184,101) $ (639,187) $ (398,780)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Loss from discontinued operations, net of tax 0 1,769 218,235
Depreciation and amortization, including amortization of debt issuance costs 306,208 331,200 276,848
(Gain) loss on early extinguishment or revaluation of liabilities, net (8,308) 22,953 7,853
Non-cash equity-based compensation expense (1,052) 6,727 26,510
Loss on disposal or impairment of assets, net 94,254 475,436 261,786
Change in provision for expected credit losses 929 5,988 1,002
Net adjustments to fair value of commodity derivatives 116,556 83,578 (85,941)
Equity in earnings of unconsolidated entities (1,400) (1,938) (1,291)
Distributions of earnings from unconsolidated entities 2,205 3,364 0
Lower of cost or net realizable value adjustments 14,761 3,898 33,973
Other 2,310 1,513 2,541
Changes in operating assets and liabilities, exclusive of acquisitions:      
Accounts receivable-trade and affiliates (397,607) (162,031) 436,349
Inventories (119,806) (92,731) 29,779
Other current and noncurrent assets 40,158 92,555 14,081
Accounts payable-trade and affiliates 405,420 207,505 (375,257)
Other current and noncurrent liabilities (64,681) (34,836) (65,262)
Net cash provided by operating activities-continuing operations 205,846 305,763 382,426
Net cash (used in) provided by operating activities-discontinued operations 0 (1,769) 81,629
Net cash provided by operating activities 205,846 303,994 464,055
INVESTING ACTIVITIES:      
Capital expenditures (142,359) (186,801) (555,713)
Acquisitions, net of cash acquired 0 901 (1,268,474)
Net settlements of commodity derivatives (152,055) (80,372) 86,702
Proceeds from sales of assets 18,500 45,742 17,621
Proceeds from divestitures of businesses and investments, net 63,489 0 0
Investments in unconsolidated entities (350) (963) (21,218)
Distributions of capital from unconsolidated entities 367 0 440
Repayments on loan for natural gas liquids facility 0 0 3,022
Net cash used in investing activities-continuing operations (212,408) (221,493) (1,737,620)
Net cash provided by investing activities-discontinued operations 0 0 298,864
Net cash used in investing activities (212,408) (221,493) (1,438,756)
FINANCING ACTIVITIES:      
Proceeds from borrowings under revolving credit facilities 1,815,000 1,261,000 4,074,000
Payments on revolving credit facilities (1,703,000) (2,727,000) (3,775,000)
Issuance of senior secured and unsecured notes and term credit agreement 0 2,300,000 700,000
Repayment of term credit agreements 0 (555,562) 0
Repayment and repurchase of senior unsecured notes (83,167) (115,796) (454)
Proceeds from borrowings on other long-term debt 0 50,000 0
Payments on other long-term debt (7,390) (5,590) (653)
Debt issuance costs (12,932) (65,566) (14,950)
Distributions to general and common unit partners and preferred unitholders 0 (142,128) (244,400)
Distributions to noncontrolling interest owners (1,635) (4,115) (1,145)
Proceeds from sale of preferred units, net of offering costs 0 0 622,391
Payments for redemption of preferred units 0 0 (265,128)
Common unit repurchases and cancellations (90) (182) (1,644)
Payments to settle contingent consideration liabilities (1,231) (95,437) (98,958)
Investment in NGL Energy Holdings LLC 0 0 (15,226)
Net cash provided by (used in) financing activities 5,555 (100,376) 978,833
Net (decrease) increase in cash and cash equivalents (1,007) (17,875) 4,132
Cash and cash equivalents, beginning of period 4,829 22,704 18,572
Cash and cash equivalents, end of period 3,822 4,829 22,704
Supplemental cash flow information:      
Cash interest paid 254,814 168,642 155,445
Income taxes paid (net of income tax refunds) 2,480 2,586 4,931
Supplemental non-cash investing and financing activities:      
Distributions declared but not paid to preferred unitholders 0 13,814 18,687
Accrued capital expenditures $ 14,558 $ 21,824 $ 88,917