XML 45 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 91,497 $ 90,499
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 42,991 37,591
Net changes in fair value of derivatives (12,684) 291
Non-cash deferred lease expense 909 942
Amortization of unfavorable storage contracts (2,768) (2,748)
Earnings from equity investments (1,266) (1,629)
Distributions from equity investments 125 125
Other non-cash items 6,585 4,356
Change in assets and liabilities, net of amounts related to acquisitions:    
Trade receivables (90,186) (13,102)
Construction and pipeline relocation receivables 1,219 (740)
Inventories (104,980) 66,336
Prepaid and other current assets 447 24,418
Accounts payable 60,777 9,588
Accrued and other current liabilities (36,867) (30,347)
Other non-current assets 1,141 (1,116)
Other non-current liabilities (4,558) (2,047)
Net cash (used in) provided by operating activities (47,618) 182,417
Cash flows from investing activities:    
Capital expenditures (109,864) (67,186)
Proceeds from disposal of property, plant and equipment 21 358
Net cash used in investing activities (109,843) (66,828)
Cash flows from financing activities:    
Net proceeds from issuance of LP units 52,217 349,564
Net proceeds from exercise of unit options 269  
Payment of tax withholding on issuance of LTIP awards (4,744) (3,498)
Debt issuance costs (10)  
Borrowings under BPL Credit Facility 405,000 339,000
Repayments under BPL Credit Facility (264,000) (619,000)
Net borrowings (repayments) under BES Credit Facility 122,000 (81,300)
Distributions paid to noncontrolling interests (1,953) (2,295)
Distributions paid to unitholders (124,954) (100,272)
Net cash provided by (used in) financing activities 183,825 (117,801)
Net increase (decrease) in cash and cash equivalents 26,364 (2,212)
Cash and cash equivalents - Beginning of period 4,950 6,776
Cash and cash equivalents - End of period $ 31,314 $ 4,564