The following tables present our financial position and our results of operations and of cash flows giving effect to the May 2017 Acquisition of the Delta, Na Kika and Refinery Gas Pipeline Operations. The results of Delta, Na Kika and Refinery Gas Pipeline prior to the closing date of the acquisition are included in “Delta, Na Kika and Refinery Gas Pipeline Operations” and the consolidated results are included in “Consolidated Results” within the tables below:



	December 31, 2016
	Shell Midstream Partners, L.P.⁽¹⁾			Delta, Na Kika and Refinery Gas Pipeline Operations ⁽²⁾		Consolidated Results
ASSETS
Current assets
Cash and cash equivalents	$	121.9		$	—	$	121.9
Accounts receivable – third parties, net	18.4			2.4		20.8
Accounts receivable – related parties	10.1			2.0		12.1
Allowance oil	9.0			2.7		11.7
Prepaid expenses	6.0			0.5		6.5
Total current assets	165.4			7.6		173.0
Equity method investments	262.4			—		262.4
Property, plant and equipment, net	398.0			212.6		610.6
Cost investments	39.8			—		39.8
Other assets	—			0.6		0.6
Total assets	$	865.6		$	220.8	$	1,086.4
LIABILITIES
Current liabilities
Accounts payable – third parties	$	1.5		$	2.6	$	4.1
Accounts payable – related parties	5.2			0.2		5.4
Deferred revenue – third parties	6.0			—		6.0
Deferred revenue – related parties	7.9			—		7.9
Accrued liabilities – third parties	5.6			1.3		6.9
Accrued liabilities – related parties	5.1			—		5.1
Total current liabilities	31.3			4.1		35.4
Noncurrent liabilities
Debt payable – related party	686.0			—		686.0
Lease liability – related party	24.9			—		24.9
Asset retirement obligations	1.4			—		1.4
Other unearned income	2.1			—		2.1
Total noncurrent liabilities	714.4			—		714.4
Total liabilities	745.7			4.1		749.8
Commitments and Contingencies (Note 11)
EQUITY
Common unitholders – public	2,485.7			—		2,485.7
Common unitholder – SPLC	(124.1		)	—		(124.1		)
Subordinated unitholder	(389.6		)	—		(389.6		)
General partner – SPLC	(1,873.7		)	—		(1,873.7		)
Total partners' capital	98.3			—		98.3
Noncontrolling interest	21.6			—		21.6
Net parent investment	—			216.7		216.7
Total equity	119.9			216.7		336.6
Total liabilities and equity	$	865.6		$	220.8	$	1,086.4

⁽¹⁾ As previously reported in our Annual Report on Form 10-K for 2016.

⁽²⁾ The financial position of the Delta, Na Kika and Refinery Gas Pipeline Operations as of December 31, 2016.



	Three Months Ended September 30, 2016
	Shell Midstream Partners, L.P.⁽¹⁾		Delta, Na Kika and Refinery Gas Pipeline Operations ⁽²⁾		Consolidated Results

Revenue
Third parties	$	46.1	$	7.7	$	53.8
Related parties	21.8		6.3		28.1
Total revenue	67.9		14.0		81.9
Costs and expenses
Operations and maintenance – third parties	11.4		2.7		14.1
Operations and maintenance – related parties	5.3		2.2		7.5
General and administrative – third parties	2.2		—		2.2
General and administrative – related parties	5.7		1.7		7.4
Depreciation, amortization and accretion	6.0		3.1		9.1
Property and other taxes	1.3		1.3		2.6
Total costs and expenses	31.9		11.0		42.9
Operating income	36.0		3.0		39.0
Income from equity investments	21.4		—		21.4
Dividend income from cost investments	4.2		—		4.2
Investment and dividend income	25.6		—		25.6
Interest expense, net	2.8		—		2.8
Income before income taxes	58.8		3.0		61.8
Income tax expense	—		—		—
Net income	58.8		3.0		61.8
Less: Net income attributable to Parent	—		3.0		3.0
Less: Net income attributable to noncontrolling interests	2.5		—		2.5
Net income attributable to the Partnership	$	56.3	$	—	$	56.3

⁽¹⁾ As previously reported in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016.

⁽²⁾ Our Parents' results of the Delta, Na Kika and Refinery Gas Pipeline Operations from July 1, 2016 through September 30, 2016.



	Nine Months Ended September 30, 2016
	Shell Midstream Partners, L.P.⁽¹⁾		Delta, Na Kika and Refinery Gas Pipeline Operations ⁽²⁾		Consolidated Results

Revenue
Third parties	$	149.8	$	25.1	$	174.9
Related parties	65.9		20.1		86.0
Total revenue	215.7		45.2		260.9
Costs and expenses
Operations and maintenance – third parties	33.1		8.6		41.7
Operations and maintenance – related parties	15.9		6.7		22.6
General and administrative – third parties	6.2		0.2		6.4
General and administrative – related parties	17.3		5.0		22.3
Depreciation, amortization and accretion	17.7		9.4		27.1
Property and other taxes	6.4		3.9		10.3
Total costs and expenses	96.6		33.8		130.4
Operating income	119.1		11.4		130.5
Income from equity investments	70.2		—		70.2
Dividend income from cost investments	11.6		—		11.6
Investment and dividend income	81.8		—		81.8
Interest expense, net	7.8		—		7.8
Income before income taxes	193.1		11.4		204.5
Income tax expense	—		—		—
Net income	193.1		11.4		204.5
Less: Net income attributable to Parent	—		11.4		11.4
Less: Net income attributable to noncontrolling interests	17.7		—		17.7
Net income attributable to the Partnership	$	175.4	$	—	$	175.4

⁽¹⁾ As previously reported in our Quarterly Report on Form 10-Q for the nine month period ended September 30, 2016.

⁽²⁾ Our Parents' results of the Delta, Na Kika and Refinery Gas Pipeline Operations from January 1, 2016 through September 30, 2016.



	Nine Months Ended September 30, 2016
	Shell Midstream Partners, L.P.⁽¹⁾			Delta, Na Kika and Refinery Gas Pipeline Operations ⁽²⁾			Consolidated Results

Cash flows from operating activities
Net income	$	193.1		$	11.4		$	204.5
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, amortization and accretion	17.7			9.4			27.1
Non-cash interest expense	0.2			—			0.2
Undistributed equity earnings	2.7			—			2.7
Changes in operating assets and liabilities
Accounts receivable	6.6			0.7			7.3
Allowance oil	(3.6		)	(0.2		)	(3.8		)
Prepaid expenses	4.3			0.7			5.0
Accounts payable	(1.6		)	(0.7		)	(2.3		)
Deferred revenue	(0.4		)	—			(0.4		)
Accrued liabilities	5.1			3.1			8.2
Net cash provided by operating activities	224.1			24.4			248.5
Cash flows from investing activities
Capital expenditures	(21.3		)	(7.5		)	(28.8		)
Acquisitions	(120.0		)	—			(120.0		)
Return of investment	9.6			—			9.6
Net cash used in investing activities	(131.7		)	(7.5		)	(139.2		)
Cash flows from financing activities
Net proceeds from public offerings	818.1			—			818.1
Borrowing under credit facility	296.7			—			296.7
Contributions from general partner	9.8			—			9.8
Repayment of credit facilities	(410.0		)	—			(410.0		)
Capital distributions to general partner	(599.2		)	—			(599.2		)
Distributions to noncontrolling interest	(17.1		)	—			(17.1		)
Distributions to unitholders and general partner	(126.0		)	—			(126.0		)
Net distributions to Parent	—			(16.9		)	(16.9		)
Other contribution from Parent	3.1			—			3.1
Net cash used in financing activities	(24.6		)	(16.9		)	(41.5		)
Net increase in cash and cash equivalents	67.8			—			67.8
Cash and cash equivalents at beginning of the period	93.0			—			93.0
Cash and cash equivalents at end of the period	$	160.8		$	—		$	160.8
Supplemental Cash Flow Information
Non-cash investing and financing transactions
Change in accrued capital expenditures	$	(1.1	)	$	(4.2	)	$	(5.3	)
Other non-cash contributions from Parent	0.3			—			0.3
Other non-cash capital distributions to general partner	(7.1		)	—			(7.1		)
Other non-cash contribution from general partner	7.1			—			7.1
Other non-cash credit facilities issuance costs	(0.6		)	—			(0.6		)

⁽¹⁾ As previously reported in our Quarterly Report on Form 10-Q for the nine month period ended September 30, 2016.

⁽²⁾ Our Parents' results of the Delta, Na Kika and Refinery Gas Pipeline Operations from January 1, 2016 through September 30, 2016.