XML 30 R20.htm IDEA: XBRL DOCUMENT v3.7.0.1
Acquisitions (Tables)
3 Months Ended
Mar. 31, 2017
Business Combinations [Abstract]  
Consolidated statement of income and statement of cash flows
The following table presents our previously reported statement of income for the three months ended March 31, 2016 (as presented in our Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC) on May 6, 2016) retrospectively adjusted for the acquisitions of the McKee Terminal Services Business and the Meraux and Three Rivers Terminal Services Business (in thousands).
 
 
Three Months Ended March 31, 2016
 
 
Valero
Energy
Partners LP
(Previously
Reported)
 
McKee
Terminal
Services
Business
 
Meraux and
Three Rivers
Terminal
Services
Business
 
Valero
Energy
Partners LP
(Currently
Reported)
Operating revenues – related party
 
$
78,767

 
$

 
$

 
$
78,767

Costs and expenses:
 
 
 
 
 
 
 
 
Operating expenses
 
19,096

 
1,781

 
3,409

 
24,286

General and administrative expenses
 
4,161

 
67

 
137

 
4,365

Depreciation expense
 
9,388

 
1,233

 
891

 
11,512

Total costs and expenses
 
32,645

 
3,081

 
4,437

 
40,163

Operating income (loss)
 
46,122

 
(3,081
)
 
(4,437
)
 
38,604

Other income, net
 
77

 

 

 
77

Interest and debt expense,
net of capitalized interest
 
(2,659
)
 

 

 
(2,659
)
Income (loss) before income taxes
 
43,540

 
(3,081
)
 
(4,437
)
 
36,022

Income tax expense
 
242

 

 

 
242

Net income (loss)
 
43,298

 
(3,081
)
 
(4,437
)
 
35,780

Less: Net loss attributable to Predecessor
 

 
(3,081
)
 
(4,437
)
 
(7,518
)
Net income attributable to partners
 
$
43,298

 
$

 
$

 
$
43,298


The following table presents our previously reported statement of cash flows for the three months ended March 31, 2016 (as presented in our Quarterly Report on Form 10-Q filed with the SEC on May 6, 2016) retrospectively adjusted for the acquisitions of the McKee Terminal Services Business and the Meraux and Three Rivers Terminal Services Business (in thousands).
 
 
Three Months Ended March 31, 2016
 
 
Valero
Energy
Partners LP
(Previously
Reported)
 
McKee
Terminal
Services
Business
 
Meraux and
Three Rivers
Terminal
Services
Business
 
Valero
Energy
Partners LP
(Currently
Reported)
Cash flows from operating activities:
 
 
 
 
 
 
 
 
Net income (loss)
 
$
43,298

 
$
(3,081
)
 
$
(4,437
)
 
$
35,780

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
 
 
 
 
 
 
 
 
Depreciation expense
 
9,388

 
1,233

 
891

 
11,512

Changes in current assets and current liabilities
 
(1,986
)
 

 

 
(1,986
)
Changes in deferred charges and credits and other operating activities, net
 
206

 

 

 
206

Net cash provided by (used in) operating activities
 
50,906

 
(1,848
)
 
(3,546
)
 
45,512

Cash flows from investing activities:
 
 
 
 
 
 
 
 
Capital expenditures
 
(6,267
)
 

 
(933
)
 
(7,200
)
Net cash used in investing activities
 
(6,267
)
 

 
(933
)
 
(7,200
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
Repayment of capital lease obligations
 
(326
)
 

 

 
(326
)
Payment of offering costs
 
(107
)
 

 

 
(107
)
Cash distributions to unitholders and distribution equivalent right payments
 
(22,711
)
 

 

 
(22,711
)
Net transfers from Valero Energy Corporation
 

 
1,848

 
4,479

 
6,327

Net cash provided by (used in) financing activities
 
(23,144
)
 
1,848

 
4,479

 
(16,817
)
Net increase in cash and cash equivalents
 
21,495

 

 

 
21,495

Cash and cash equivalents at beginning of period
 
80,783

 

 

 
80,783

Cash and cash equivalents at end of period
 
$
102,278

 
$

 
$

 
$
102,278