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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 134,977 $ 111,164
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 61,426 53,776
Net changes in fair value of derivatives 80,975 54,387
Amortization of unfavorable storage contracts (2,768) (2,768)
Earnings from equity investments (3,088) (2,134)
Distributions from equity investments 374 500
Other non-cash items 11,202 12,463
Change in assets and liabilities, net of amounts related to acquisitions:    
Accounts receivable (38,405) (7,477)
Construction and pipeline relocation receivables 1,027 3,539
Inventories 1,336 87,405
Prepaid and other current assets (19,235) (14,752)
Accounts payable 24,723 (12,638)
Accrued and other current liabilities (41,927) (41,891)
Other non-current assets (517) (1,898)
Other non-current liabilities (4,054) (2,053)
Net cash provided by operating activities 206,046 237,623
Cash flows from investing activities:    
Capital expenditures (112,345) (134,024)
Acquisitions, net of working capital settlement 0 (2,812)
Proceeds from sale and disposition of assets 1,500 17
Escrow deposits 19,850 0
Net cash used in investing activities (90,995) (136,819)
Cash flows from financing activities:    
Net proceeds from issuance of LP Units 37,590 3,682
Net proceeds from exercise of Unit options 161 136
Payment of tax withholding on issuance of LTIP awards (4,909) (6,465)
Debt issuance costs 0 (360)
Borrowings under BPL Credit Facility 343,500 392,000
Repayments under BPL Credit Facility (375,500) (292,000)
Net borrowings (repayments) under BMSC Credit Facility 38,112 (70,200)
Contributions from noncontrolling interests 2,200 12,600
Distributions paid to noncontrolling interests (1,258) (1,908)
Distributions paid to unitholders (154,147) (144,294)
Net cash used in financing activities (114,251) (106,809)
Net increase (decrease) in cash and cash equivalents 800 (6,005)
Cash and cash equivalents — Beginning of period 4,881 8,208
Cash and cash equivalents — End of period $ 5,681 $ 2,203