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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
[1]
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income (loss) $ 88,721 $ (17,248) [2] $ (9,860) [2]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation expense 42,724 35,302 [2] 32,493 [2]
Deferred income tax expense (benefit) (228) 43 [2] 941 [2]
Changes in current assets and current liabilities (8,973) (1,318) [2] (2,947) [2]
Changes in deferred charges and credits and other operating activities, net 587 (34) [2] (421) [2]
Net cash provided by operating activities 122,831 16,745 [2] 20,206 [2]
Cash flows from investing activities:      
Capital expenditures (31,195) (108,331) [2] (124,379) [2]
Acquisitions from Valero Energy Corporation (390,144) (80,116) [2] 0 [2]
Proceeds from dispositions of property and equipment 82 54 [2] 8 [2]
Net cash used in investing activities (421,257) (188,393) [2] (124,371) [2]
Cash flows from financing activities:      
Proceeds from debt borrowings 200,000 0 [2] 0 [2]
Proceeds from notes payable to related party 555,000 0 [2] 0 [2]
Repayments of debt and capital lease obligations (26,200) (1,048) [2] (1,059) [2]
Repayment of note payable to related party (185,000) 0 [2] 0 [2]
Payment of debt issuance costs (2,322) (1,071) [2] (572) [2]
Prefunding of capital projects by Valero Energy Corporation 0 0 [2] 3,500 [2]
Proceeds from issuance of common units, net of discount 189,683 0 [2] 372,449 [2]
Proceeds from issuance of general partner units 4,011 0 [2] 0 [2]
Payment of offering costs (666) (3,223) [2] 0 [2]
Excess purchase price paid to Valero Energy Corporation over the carrying value of acquired assets (576,076) (73,884) [2] 0 [2]
Cash distributions to unitholders and distribution equivalent right payments (71,715) (41,837) [2] 0 [2]
Net transfers from Valero Energy Corporation 55,915 154,172 [2] 104,965 [2]
Net cash provided by financing activities 142,630 33,109 [2] 479,283 [2]
Net increase (decrease) in cash and cash equivalents (155,796) (138,539) [2] 375,118 [2]
Cash and cash equivalents at beginning of year [2] 236,579 375,118 0
Cash and cash equivalents at end of year $ 80,783 $ 236,579 [1],[2] $ 375,118 [2]
[1] Financial information has been retrospectively adjusted for the acquisition of the McKee Terminal Services Business from Valero Energy Corporation. See Notes 1 and 3.
[2] Financial information has been retrospectively adjusted for the acquisitions of the Corpus Christi Terminal Services Business and the McKee Terminal Services Business from Valero Energy Corporation. See Notes 1 and 3.