XML 64 R6.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 284,620 $ (534,927)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 196,639 199,171
Amortization of debt issuance costs, discounts and terminated interest rate swaps 11,179 11,755
Non-cash unit-based compensation expense 21,630 21,710
Loss (gain) on asset impairments, disposals and recoveries, net 1,021 (15,655)
Changes in fair value of derivatives, net 14,266 3,450
(Earnings) loss from equity investments (10,927) 276,633
Distributions of earnings from equity investments 5,870 19,988
Goodwill impairment 0 536,964
Other non-cash items 3,477 1,869
Change in assets and liabilities, net of amounts related to acquisitions:    
Accounts receivable, net (3,075) 28,433
Construction and pipeline relocation receivables 6,134 (3,634)
Inventories 86,593 103,923
Prepaid and other current assets (17,355) (28,900)
Accounts payable (22,057) (32,126)
Accrued and other current liabilities (10,599) (7,563)
Other non-current assets and liabilities 10,675 15,099
Net cash provided by operating activities 578,091 596,190
Cash flows from investing activities:    
Capital expenditures (271,977) (356,987)
Proceeds from sale of VTTI and DPTS asset package 985,000 0
Contribution to equity investment (66,248) (31,061)
Distributions from equity investments in excess of earnings 8,195 52,303
Acquisition of business, net of cash acquired 0 895
Proceeds from property disposals and recoveries 11,299 9,388
Net cash provided by (used in) investing activities 666,269 (325,462)
Cash flows from financing activities:    
Net proceeds from issuance of Units and exercise of Unit options 0 261,958
Payment of tax withholding on vesting of LTIP awards (2,343) (6,782)
Proceeds from issuance of long-term debt, net of issuance costs 0 394,937
Loss on early extinguishment of debt (3,647) 0
Repayment of long-term debt (525,000) (300,000)
Borrowings under the BPL Credit Facility 677,415 1,656,600
Repayments under the BPL Credit Facility (942,017) (1,428,880)
Net repayments under the BMSC Credit Facility (98,685) (74,003)
Acquisition of noncontrolling interest 0 (210,000)
Contributions from noncontrolling interests 0 7,400
Distributions paid to noncontrolling interests (2,809) (15,342)
Distributions to LP unitholders (347,706) (558,135)
Net cash used in financing activities (1,244,792) (272,247)
Net decrease in cash and cash equivalents (432) (1,519)
Cash and cash equivalents — Beginning of period 1,830 2,180
Cash and cash equivalents — End of period $ 1,398 $ 661