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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 92,900 $ 82,800
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,300 1,300
Impairment and other, net 0 1,000
Non-cash expenses 100 100
Income from equity method investments (58,100) (53,200)
Distributions of earnings received from equity method investments 60,700 55,700
Changes in operating assets and liabilities    
Accounts receivable 1,000 (600)
Prepaid expenses and other current assets 3,100 2,600
Accounts payable (100) (1,000)
Deferred revenue and credits 100 2,600
Other (1,500) (4,000)
Net cash provided by operating activities 99,500 87,300
Cash flows from investing activities    
Capital expenditures (1,300) (300)
Distributions in excess of earnings from equity method investments 5,300 6,600
Net cash provided by investing activities 4,000 6,300
Cash flows from financing activities    
Proceeds from issuance of term loan (468,000) 0
Distributions to unitholders and general partner (75,200) (64,600)
Distributions to non-controlling interests (12,200) (10,600)
Net cash used in financing activities (87,400) (75,200)
Net change in cash and cash equivalents 16,100 18,400
Cash and cash equivalents at beginning of the period 98,800 57,000
Cash and cash equivalents at end of the period 114,900 75,400
Supplemental cash flow information    
Cash paid for interest 8,300 12,100
Non-cash investing transactions    
Accrued capital expenditures 500 200
Proceeds from Issuance of Long-term Debt $ 468,000 $ 0