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10-Q Filing

CRESTWOOD EQUITY PARTNERS LP CIK: 1136352 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001445305-14-002005
Period End Date 20140331
Filing Date 20140508
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance ceqp-20140331.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $7.70M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $5.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $100.00K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $364.30M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $412.60M USD Point-in-time
Inventory Inventory $73.60M USD Point-in-time
Inventory Inventory $39.80M USD Point-in-time
Assets from price risk management activities DerivativeAssetsCurrent $10.10M USD Point-in-time
Common units, issued CommonStockSharesIssued 186.52M shares Point-in-time
Common units, issued CommonStockSharesIssued 185.27M shares Point-in-time
Assets from price risk management activities DerivativeAssetsCurrent $14.50M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $29.40M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $16.10M USD Point-in-time
Common units, outstanding CommonStockSharesOutstanding 185.27M shares Point-in-time
Common units, outstanding CommonStockSharesOutstanding 186.52M shares Point-in-time
Total current assets AssetsCurrent $522.00M USD Point-in-time
Total current assets AssetsCurrent $451.30M USD Point-in-time
Property, plant and equipment (Note 3) PropertyPlantAndEquipmentGross $4.18B USD Point-in-time
Property, plant and equipment (Note 3) PropertyPlantAndEquipmentGross $4.11B USD Point-in-time
Less: accumulated depreciation and depletion AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $245.30M USD Point-in-time
Less: accumulated depreciation and depletion AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $203.40M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $3.91B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $3.94B USD Point-in-time
Intangible assets (Note 3) IntangibleAssetsGrossExcludingGoodwill $1.47B USD Point-in-time
Intangible assets (Note 3) IntangibleAssetsGrossExcludingGoodwill $1.47B USD Point-in-time
Less: accumulated amortization FiniteLivedIntangibleAssetsAccumulatedAmortization $106.00M USD Point-in-time
Less: accumulated amortization FiniteLivedIntangibleAssetsAccumulatedAmortization $132.90M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $1.36B USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $1.34B USD Point-in-time
Goodwill Goodwill $352.20M USD Point-in-time
Goodwill Goodwill $2.55B USD Point-in-time
Goodwill Goodwill $2.55B USD Point-in-time
Investment in unconsolidated affiliates (Note 5) EquityMethodInvestments $171.10M USD Point-in-time
Investment in unconsolidated affiliates (Note 5) EquityMethodInvestments $151.40M USD Point-in-time
Other assets OtherAssetsNoncurrent $31.90M USD Point-in-time
Other assets OtherAssetsNoncurrent $32.80M USD Point-in-time
Total assets Assets $2.30B USD Point-in-time
Total assets Assets $8.48B USD Point-in-time
Total assets Assets $8.52B USD Point-in-time
Accounts payable AccountsPayableCurrent $317.40M USD Point-in-time
Accounts payable AccountsPayableCurrent $379.00M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $183.50M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $177.10M USD Point-in-time
Liabilities from price risk management activities DerivativeLiabilitiesCurrent $34.90M USD Point-in-time
Liabilities from price risk management activities DerivativeLiabilitiesCurrent $6.00M USD Point-in-time
Current portion of long-term debt (Note 9) LongTermDebtCurrent $14.00M USD Point-in-time
Current portion of long-term debt (Note 9) LongTermDebtCurrent $5.10M USD Point-in-time
Total current liabilities LiabilitiesCurrent $520.90M USD Point-in-time
Total current liabilities LiabilitiesCurrent $596.10M USD Point-in-time
Long-term debt, less current portion (Note 9) LongTermDebtNoncurrent $2.26B USD Point-in-time
Long-term debt, less current portion (Note 9) LongTermDebtNoncurrent $2.38B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $140.60M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $140.40M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $17.20M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $13.40M USD Point-in-time
Partners' Capital PartnersCapital $815.10M USD Point-in-time
Partners' Capital PartnersCapital $831.60M USD Point-in-time
Partners' Capital Attributable to Noncontrolling Interest PartnersCapitalAttributableToNoncontrollingInterest $4.68B USD Point-in-time
Partners' Capital Attributable to Noncontrolling Interest PartnersCapitalAttributableToNoncontrollingInterest $4.61B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $5.43B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $5.51B USD Point-in-time
Total liabilities and partners capital LiabilitiesAndStockholdersEquity $8.48B USD Point-in-time
Total liabilities and partners capital LiabilitiesAndStockholdersEquity $8.52B USD Point-in-time
Income Statement 64 line items
Line Item Tag Value Unit Period
Gathering and processing GasGatheringCompressionMarketingandProcessingRevenues $78.60M USD 1 Quarter
Gathering and processing GasGatheringCompressionMarketingandProcessingRevenues $46.80M USD 1 Quarter
Storage and transportation RevenueStorageAndTransportation $51.00M USD 1 Quarter
Storage and transportation RevenueStorageAndTransportation - USD 1 Quarter
NGL and crude services NGLandCrudeServicesRevenue $841.10M USD 1 Quarter
NGL and crude services NGLandCrudeServicesRevenue - USD 1 Quarter
Related party (Note 13) RevenueFromRelatedParties $25.60M USD 1 Quarter
Related party (Note 13) RevenueFromRelatedParties $900.00K USD 1 Quarter
Total revenue Revenues $72.40M USD 1 Quarter
Total revenue Revenues $971.60M USD 1 Quarter
Gathering and processing GasGatheringCompressionMarketingandProcessingCosts $6.70M USD 1 Quarter
Gathering and processing GasGatheringCompressionMarketingandProcessingCosts $7.70M USD 1 Quarter
Storage and transportation CostOfGoodsSoldStorageAndTransportation - USD 1 Quarter
Storage and transportation CostOfGoodsSoldStorageAndTransportation $6.80M USD 1 Quarter
NGL and crude services NGLandCrudeServicesCosts - USD 1 Quarter
NGL and crude services NGLandCrudeServicesCosts $760.50M USD 1 Quarter
Related party (Note 13) RelatedPartiesAmountInCostOfSales $11.00M USD 1 Quarter
Related party (Note 13) RelatedPartiesAmountInCostOfSales $6.80M USD 1 Quarter
Cost of product/services sold CostOfRevenue $13.50M USD 1 Quarter
Cost of product/services sold CostOfRevenue $786.00M USD 1 Quarter
Operations and maintenance OperatingCostsAndExpenses $13.00M USD 1 Quarter
Operations and maintenance OperatingCostsAndExpenses $44.10M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $7.80M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $27.90M USD 1 Quarter
Depreciation, amortization and accretion DepreciationAmortizationAndAccretionNet $22.40M USD 1 Quarter
Depreciation, amortization and accretion DepreciationAmortizationAndAccretionNet $66.30M USD 1 Quarter
Total Expenses OperatingExpenses $138.30M USD 1 Quarter
Total Expenses OperatingExpenses $43.20M USD 1 Quarter
Gain on long-lived assets GainLossOnDispositionOfAssets - USD 1 Quarter
Gain on long-lived assets GainLossOnDispositionOfAssets $500.00K USD 1 Quarter
Loss on contingent consideration (Note 12) GainLossonContingentConsideration - USD 1 Quarter
Loss on contingent consideration (Note 12) GainLossonContingentConsideration $-2.10M USD 1 Quarter
Operating income OperatingIncomeLoss $45.70M USD 1 Quarter
Operating income OperatingIncomeLoss $15.70M USD 1 Quarter
Loss from unconsolidated affiliates, net IncomeLossFromEquityMethodInvestments $-100.00K USD 1 Quarter
Loss from unconsolidated affiliates, net IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Interest and debt expense, net InterestIncomeExpenseNet $-31.70M USD 1 Quarter
Interest and debt expense, net InterestIncomeExpenseNet $-11.40M USD 1 Quarter
Other income OtherIncome $100.00K USD 1 Quarter
Other income OtherIncome - USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $4.30M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $14.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $400.00K USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $800.00K USD 1 Quarter
Net income ProfitLoss $3.90M USD 1 Quarter
Net income ProfitLoss $13.20M USD 1 Quarter
Net loss attributable to non-controlling partners NetIncomeLossAttributableToNoncontrollingInterest $-6.40M USD 1 Quarter
Net loss attributable to non-controlling partners NetIncomeLossAttributableToNoncontrollingInterest $-1.20M USD 1 Quarter
Net income attributable to Crestwood Equity Partners LP NetIncomeLoss $19.60M USD 1 Quarter
Net income attributable to Crestwood Equity Partners LP NetIncomeLoss $5.10M USD 1 Quarter
Subordinated unitholders' interest in net income NetIncomeLossAllocatedtoSubordinatedLimitedPartners $500.00K USD 1 Quarter
Subordinated unitholders' interest in net income NetIncomeLossAllocatedtoSubordinatedLimitedPartners $600.00K USD 1 Quarter
Common unitholders' interest in net income NetIncomeLossAllocatedToLimitedPartners $4.50M USD 1 Quarter
Common unitholders' interest in net income NetIncomeLossAllocatedToLimitedPartners $19.10M USD 1 Quarter
Basic (dollars per unit) NetIncomeLossPerOutstandingLimitedPartnershipUnit 0.11 USD/unit 1 Quarter
Basic (dollars per unit) NetIncomeLossPerOutstandingLimitedPartnershipUnit 0.13 USD/unit 1 Quarter
Diluted (dollars per unit) NetIncomeLossPerOutstandingLimitedPartnershipUnitDiluted 0.11 USD/unit 1 Quarter
Diluted (dollars per unit) NetIncomeLossPerOutstandingLimitedPartnershipUnitDiluted 0.13 USD/unit 1 Quarter
Basic (units) WeightedAverageLimitedPartnershipUnitsOutstanding 181.88M shares 1 Quarter
Basic (units) WeightedAverageLimitedPartnershipUnitsOutstanding 35.10M shares 1 Quarter
Dilutive (units) WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment 4.39M shares 1 Quarter
Dilutive (units) WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment 4.39M shares 1 Quarter
Diluted (units) WeightedAverageLimitedPartnershipUnitsOutstandingDiluted 39.49M shares 1 Quarter
Diluted (units) WeightedAverageLimitedPartnershipUnitsOutstandingDiluted 186.27M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $3.90M USD 1 Quarter
Net income ProfitLoss $13.20M USD 1 Quarter
Depreciation, amortization and accretion DepreciationAmortizationAndAccretionNet $22.40M USD 1 Quarter
Depreciation, amortization and accretion DepreciationAmortizationAndAccretionNet $66.30M USD 1 Quarter
Amortization of debt-related deferred costs, discounts and premiums AmortizationOfFinancingCostsAndDiscounts $1.10M USD 1 Quarter
Amortization of debt-related deferred costs, discounts and premiums AmortizationOfFinancingCostsAndDiscounts $1.90M USD 1 Quarter
Market adjustment on interest rate swaps IncreaseDecreaseInDerivativeAssets $600.00K USD 1 Quarter
Market adjustment on interest rate swaps IncreaseDecreaseInDerivativeAssets - USD 1 Quarter
Unit-based compensation charges ShareBasedCompensation $600.00K USD 1 Quarter
Unit-based compensation charges ShareBasedCompensation $5.40M USD 1 Quarter
Gain on long-lived assets GainLossOnDispositionOfAssets - USD 1 Quarter
Gain on long-lived assets GainLossOnDispositionOfAssets $500.00K USD 1 Quarter
Loss on contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability - USD 1 Quarter
Loss on contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability $-2.10M USD 1 Quarter
Loss from unconsolidated affiliates, net IncomeLossFromEquityMethodInvestments $-100.00K USD 1 Quarter
Loss from unconsolidated affiliates, net IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-3.80M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit - USD 1 Quarter
Other OtherNoncashIncomeExpense $-100.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-200.00K USD 1 Quarter
Changes in operating assets and liabilities, net of effects from acquisitions IncreaseDecreaseInOtherOperatingCapitalNet $12.00M USD 1 Quarter
Changes in operating assets and liabilities, net of effects from acquisitions IncreaseDecreaseInOtherOperatingCapitalNet $-6.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $34.10M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $72.30M USD 1 Quarter
Acquisitions, net of cash acquired (Note 4) PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisitions, net of cash acquired (Note 4) PaymentsToAcquireBusinessesNetOfCashAcquired $12.10M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $72.80M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $24.30M USD 1 Quarter
Investment in unconsolidated affiliates PaymentsToAcquireEquityMethodInvestments $19.80M USD 1 Quarter
Investment in unconsolidated affiliates PaymentsToAcquireEquityMethodInvestments - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-104.70M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-24.30M USD 1 Quarter
Proceeds from the issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $496.40M USD 1 Quarter
Proceeds from the issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $199.50M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebt $372.60M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebt $157.00M USD 1 Quarter
Payments on capital leases RepaymentsOfLongTermCapitalLeaseObligations $1.10M USD 1 Quarter
Payments on capital leases RepaymentsOfLongTermCapitalLeaseObligations $1.00M USD 1 Quarter
Payments for debt related deferred costs PaymentsOfDebtIssuanceCosts $100.00K USD 1 Quarter
Payments for debt related deferred costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Distributions to partners PaymentsOfCapitalDistribution $25.60M USD 1 Quarter
Distributions to partners PaymentsOfCapitalDistribution $4.10M USD 1 Quarter
Distributions paid to non-controlling partners PaymentsOfDividendsMinorityInterest $74.10M USD 1 Quarter
Distributions paid to non-controlling partners PaymentsOfDividendsMinorityInterest $21.00M USD 1 Quarter
Distributions for additional interest in Crestwood Marcellus Midstream LLC PaymentsToMinorityShareholders $129.00M USD 1 Quarter
Distributions for additional interest in Crestwood Marcellus Midstream LLC PaymentsToMinorityShareholders - USD 1 Quarter
Net proceeds from issuance of Crestwood Midstream Partners LP common units ProceedsFromIssuanceOfCommonStock $103.50M USD 1 Quarter
Net proceeds from issuance of Crestwood Midstream Partners LP common units ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Proceeds from issuance of preferred equity of subsidiary, net ProceedsFromMinorityShareholders - USD 1 Quarter
Proceeds from issuance of preferred equity of subsidiary, net ProceedsFromMinorityShareholders $12.30M USD 1 Quarter
Taxes paid for unit-based compensation vesting PaymentsForRepurchaseOfCommonStock $700.00K USD 1 Quarter
Taxes paid for unit-based compensation vesting PaymentsForRepurchaseOfCommonStock $400.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-9.90M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $34.90M USD 1 Quarter
Net increase (decrease) in cash CashAndCashEquivalentsPeriodIncreaseDecrease $-100.00K USD 1 Quarter
Net increase (decrease) in cash CashAndCashEquivalentsPeriodIncreaseDecrease $2.50M USD 1 Quarter
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $7.70M USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $5.20M USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $100.00K USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $7.70M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $5.20M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $100.00K USD Point-in-time
Net change to property, plant and equipment through accounts payable and accrued expenses CapitalExpendituresIncurredButNotYetPaid $1.60M USD 1 Quarter
Net change to property, plant and equipment through accounts payable and accrued expenses CapitalExpendituresIncurredButNotYetPaid $-3.40M USD 1 Quarter
Stockholders Equity 8 line items
Line Item Tag Value Unit Period
Balance at December 31, 2013 PartnersCapital $815.10M USD Point-in-time
Balance at December 31, 2013 PartnersCapital $831.60M USD Point-in-time
Change in Suburban Propane Partners, L.P. units OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-800.00K USD 1 Quarter
Change in Suburban Propane Partners, L.P. units OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax - USD 1 Quarter
Net income (loss) ProfitLoss $3.90M USD 1 Quarter
Net income (loss) ProfitLoss $13.20M USD 1 Quarter
Balance at March 31, 2014 PartnersCapital $815.10M USD Point-in-time
Balance at March 31, 2014 PartnersCapital $831.60M USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $3.90M USD 1 Quarter
Net income (loss) ProfitLoss $13.20M USD 1 Quarter
Change in Suburban Propane Partners, L.P. units (Note 10) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-800.00K USD 1 Quarter
Change in Suburban Propane Partners, L.P. units (Note 10) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax - USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $12.40M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $3.90M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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