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Significant Accounting Policies (Tables)
6 Months Ended 12 Months Ended
Sep. 30, 2014
Mar. 31, 2014
Significant Accounting Policies    
Schedule of supplemental cash flow information

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

 

 

(in thousands)

 

Interest paid, exclusive of debt issuance costs and letter of credit fees

 

$

10,445

 

$

8,423

 

$

36,429

 

$

16,908

 

Income taxes paid

 

$

1,241

 

$

369

 

$

2,246

 

$

650

 

 

 

 

 

 

 

 

 

 

 

Value of common units issued in business combinations

 

$

 

$

80,619

 

$

 

$

80,619

 

 

 

 

 

 

Year Ended March 31,

 

 

 

2014

 

2013

 

2012

 

 

 

(in thousands)

 

Interest paid, exclusive of debt issuance costs and letter of credit fees

 

$

31,827

 

$

27,384

 

$

4,966

 

Income taxes paid

 

$

1,639

 

$

1,027

 

$

430

 

Schedule of inventories

 

 

 

 

September 30,

 

March 31,

 

 

 

2014

 

2014

 

 

 

(in thousands)

 

Crude oil

 

$

136,722

 

$

156,473

 

Natural gas liquids —

 

 

 

 

 

Propane

 

207,694

 

85,159

 

Butane

 

84,822

 

15,106

 

Other

 

27,091

 

3,945

 

Refined products —

 

 

 

 

 

Gasoline

 

219,111

 

15,597

 

Diesel

 

214,567

 

7,298

 

Other

 

3,675

 

314

 

Renewables

 

36,517

 

11,778

 

Other

 

11,390

 

14,490

 

Total

 

$

941,589

 

$

310,160

 

 

 

 

 

March 31,

 

 

 

2014

 

2013

 

 

 

(in thousands)

 

Crude oil

 

$

156,473

 

$

46,156

 

Natural gas liquids —

 

 

 

 

 

Propane

 

85,159

 

45,428

 

Butane and other

 

19,051

 

24,090

 

Refined products

 

23,209

 

 

Renewables

 

11,778

 

 

Other

 

14,490

 

11,221

 

 

 

$

310,160

 

$

126,895

 

Schedule of investments in unconsolidated entities

 

 

 

 

September 30,

 

March 31,

 

 

 

2014

 

2014

 

 

 

(in thousands)

 

Glass Mountain (1)

 

$

189,847

 

$

181,488

 

Ethanol production facility

 

9,361

 

8,333

 

Water supply company

 

15,026

 

 

BOSTCO (2)

 

244,092

 

 

Frontera

 

24,318

 

 

Total

 

$

482,644

 

$

189,821

 

 

 

(1)     When we acquired Gavilon we recorded the investment in Glass Mountain at fair value. The fair value of our investment in Glass Mountain exceeds our share of the historical net book value of Glass Mountain’s net assets by approximately $70 million. This difference relates primarily to goodwill and customer relationships.

 

(2)     When we acquired TransMontaigne, we recorded the investment in BOSTCO at fair value. The fair value of our investment in BOSTCO exceeds our share of the historical net book value of BOSTCO’s net assets by approximately $24 million.

 

 
Schedule of accrued expenses and other payables

 

 

 

 

September 30,

 

March 31,

 

 

 

2014

 

2014

 

 

 

(in thousands)

 

Accrued compensation and benefits

 

$

49,146

 

$

45,006

 

Derivative liabilities

 

39,023

 

42,214

 

Product exchange liabilities

 

43,185

 

3,719

 

Accrued interest

 

23,945

 

18,668

 

Income and other tax liabilities

 

38,255

 

13,421

 

Other

 

24,928

 

18,662

 

Total

 

$

218,482

 

$

141,690

 

 

 

 

 

 

March 31,

 

 

 

 

 

2013

 

 

 

2014

 

(Note 4)

 

 

 

(in thousands)

 

Accrued compensation and benefits

 

$

45,006

 

$

27,252

 

Derivative liabilities

 

42,214

 

12,701

 

Income and other tax liabilities

 

13,421

 

22,659

 

Product exchange liabilities

 

3,719

 

6,741

 

Other

 

37,330

 

16,253

 

 

 

$

141,690

 

$

85,606