10-Q Filing

Sunoco LP CIK: 1552275 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001552275-20-000015`
Period End Date	20200331
Filing Date	20200511
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	sun-03312020x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 40 Cash Flow Statement 73 Stockholders Equity 14

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$162.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$399.00M	USD	Point-in-time
Receivables from affiliates	`DueFromAffiliateCurrent`	$11.00M	USD	Point-in-time
Receivables from affiliates	`DueFromAffiliateCurrent`	$12.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$182.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$419.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$83.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$73.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$924.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$469.00M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$2.17B	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$2.13B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$720.00M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$692.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.44B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.45B	USD	Point-in-time
Finance Lease, Right-of-Use Asset	`FinanceLeaseRightOfUseAsset`	$27.00M	USD	Point-in-time
Finance Lease, Right-of-Use Asset	`FinanceLeaseRightOfUseAsset`	$29.00M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$533.00M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$537.00M	USD	Point-in-time
Goodwill	`Goodwill`	$1.55B	USD	Point-in-time
Goodwill	`Goodwill`	$1.55B	USD	Point-in-time
Intangible assets	`IntangibleAssetsGrossExcludingGoodwill`	$905.00M	USD	Point-in-time
Intangible assets	`IntangibleAssetsGrossExcludingGoodwill`	$906.00M	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$274.00M	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$260.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$631.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$646.00M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$173.00M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$188.00M	USD	Point-in-time
Investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$135.00M	USD	Point-in-time
Investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$121.00M	USD	Point-in-time
Total assets	`Assets`	$5.44B	USD	Point-in-time
Total assets	`Assets`	$4.98B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$445.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$162.00M	USD	Point-in-time
Accounts payable to affiliates	`DueToAffiliateCurrent`	$27.00M	USD	Point-in-time
Accounts payable to affiliates	`DueToAffiliateCurrent`	$49.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$219.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$171.00M	USD	Point-in-time
Operating lease current liabilities	`OperatingLeaseLiabilityCurrent`	$20.00M	USD	Point-in-time
Operating lease current liabilities	`OperatingLeaseLiabilityCurrent`	$20.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$11.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$12.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$744.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$392.00M	USD	Point-in-time
Operating lease noncurrent liabilities	`OperatingLeaseLiabilityNoncurrent`	$530.00M	USD	Point-in-time
Operating lease noncurrent liabilities	`OperatingLeaseLiabilityNoncurrent`	$535.00M	USD	Point-in-time
Revolving line of credit	`LongTermLineOfCredit`	$162.00M	USD	Point-in-time
Revolving line of credit	`LongTermLineOfCredit`	$265.00M	USD	Point-in-time
Long-term debt, net	`OtherLongTermDebtNoncurrent`	$2.90B	USD	Point-in-time
Long-term debt, net	`OtherLongTermDebtNoncurrent`	$2.90B	USD	Point-in-time
Advances from affiliates	`DueToAffiliateCurrentAndNoncurrent`	$139.00M	USD	Point-in-time
Advances from affiliates	`DueToAffiliateCurrentAndNoncurrent`	$140.00M	USD	Point-in-time
Deferred Income Tax Liabilities, Net	`DeferredIncomeTaxLiabilitiesNet`	$109.00M	USD	Point-in-time
Deferred Income Tax Liabilities, Net	`DeferredIncomeTaxLiabilitiesNet`	$109.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$97.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$95.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.68B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.43B	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total equity	`PartnersCapital`	$758.00M	USD	Point-in-time
Total equity	`PartnersCapital`	$784.00M	USD	Point-in-time
Total equity	`PartnersCapital`	$546.00M	USD	Point-in-time
Total equity	`PartnersCapital`	$809.00M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$5.44B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$4.98B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.69B	USD	1 Quarter
Revenues	`Revenues`	$3.27B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.16B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.32B	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$34.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$27.00M	USD	1 Quarter
Other operating	`OtherCostAndExpenseOperating`	$84.00M	USD	1 Quarter
Other operating	`OtherCostAndExpenseOperating`	$95.00M	USD	1 Quarter
Lease expense	`OperatingLeaseExpense`	$14.00M	USD	1 Quarter
Lease expense	`OperatingLeaseExpense`	$14.00M	USD	1 Quarter
Loss on disposal of assets and impairment charges	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00M	USD	1 Quarter
Loss on disposal of assets and impairment charges	`GainLossOnSaleOfPropertyPlantEquipment`	$-48.00M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationAmortizationAndAccretionNet`	$45.00M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationAmortizationAndAccretionNet`	$45.00M	USD	1 Quarter
Total cost of sales and operating expenses	`OperatingCostsAndExpenses`	$3.35B	USD	1 Quarter
Total cost of sales and operating expenses	`OperatingCostsAndExpenses`	$3.54B	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$152.00M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-82.00M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$42.00M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$44.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Equity in earnings of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Equity in earnings of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-125.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$107.00M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$3.00M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-2.00M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$-128.00M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$109.00M	USD	1 Quarter
Common units - basic	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$1.08	USD	1 Quarter
Common units - basic	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$-1.78	USD	1 Quarter
Common units - diluted	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$-1.78	USD	1 Quarter
Common units - diluted	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$1.07	USD	1 Quarter
Common units - basic	`WeightedAverageLimitedPartnershipUnitsOutstanding`	83.01M	shares	1 Quarter
Common units - basic	`WeightedAverageLimitedPartnershipUnitsOutstanding`	82.71M	shares	1 Quarter
Common units - diluted	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	83.38M	shares	1 Quarter
Common units - diluted	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	83.01M	shares	1 Quarter
Cash distributions per unit	`DistributionsPerLimitedPartnershipUnitOutstanding`	$0.83	USD	1 Quarter
Cash distributions per unit	`DistributionsPerLimitedPartnershipUnitOutstanding`	$0.83	USD	1 Quarter

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Other Noncash Income (Expense)	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Other Noncash Income (Expense)	`OtherNoncashIncomeExpense`	$-3.00M	USD	1 Quarter
Proceeds from Equity Method Investment, Distribution, Return of Capital	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$3.00M	USD	1 Quarter
Proceeds from Equity Method Investment, Distribution, Return of Capital	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-128.00M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$109.00M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationAmortizationAndAccretionNet`	$45.00M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationAmortizationAndAccretionNet`	$45.00M	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$1.00M	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$2.00M	USD	1 Quarter
Loss on disposal of assets and impairment charges	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00M	USD	1 Quarter
Loss on disposal of assets and impairment charges	`GainLossOnSaleOfPropertyPlantEquipment`	$-48.00M	USD	1 Quarter
Non-cash unit-based compensation expense	`ShareBasedCompensation`	$4.00M	USD	1 Quarter
Non-cash unit-based compensation expense	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$13.00M	USD	1 Quarter
Deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.00M	USD	1 Quarter
Inventory valuation adjustment	`InventoryLIFOReservePeriodCharge`	$-93.00M	USD	1 Quarter
Inventory valuation adjustment	`InventoryLIFOReservePeriodCharge`	$227.00M	USD	1 Quarter
Equity in earnings of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Equity in earnings of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-237.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$116.00M	USD	1 Quarter
Receivables from affiliates	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-35.00M	USD	1 Quarter
Receivables from affiliates	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-1.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-67.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-10.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-9.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-282.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$74.00M	USD	1 Quarter
Accounts payable to affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	$-62.00M	USD	1 Quarter
Accounts payable to affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	$-33.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-48.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-73.00M	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.00M	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$37.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$38.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$41.00M	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00M	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$6.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-40.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-25.00M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$600.00M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.00M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$2.00M	USD	1 Quarter
Revolver borrowings	`ProceedsFromLinesOfCredit`	$693.00M	USD	1 Quarter
Revolver borrowings	`ProceedsFromLinesOfCredit`	$453.00M	USD	1 Quarter
Revolver repayments	`RepaymentsOfLinesOfCredit`	$350.00M	USD	1 Quarter
Revolver repayments	`RepaymentsOfLinesOfCredit`	$1.24B	USD	1 Quarter
Loan origination costs	`PaymentsOfDebtIssuanceCosts`	$6.00M	USD	1 Quarter
Loan origination costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Advances from (to) affiliates	`PaymentsForAdvanceToAffiliate`	$4.00M	USD	1 Quarter
Advances from (to) affiliates	`PaymentsForAdvanceToAffiliate`	-	USD	1 Quarter
Distributions to unitholders	`DistributionMadeToLimitedPartnerCashDistributionsPaid`	$69.00M	USD	Point-in-time
Distributions to unitholders	`DistributionMadeToLimitedPartnerCashDistributionsPaid`	$87.00M	USD	1 Quarter
Distributions to unitholders	`DistributionMadeToLimitedPartnerCashDistributionsPaid`	$88.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-45.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.00M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.00M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-33.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.00M	USD	Point-in-time
Change in note payable to affiliate	`NotesIssued1`	$10.00M	USD	1 Quarter
Change in note payable to affiliate	`NotesIssued1`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`PartnersCapital`	$758.00M	USD	Point-in-time
Beginning balance	`PartnersCapital`	$784.00M	USD	Point-in-time
Beginning balance	`PartnersCapital`	$546.00M	USD	Point-in-time
Beginning balance	`PartnersCapital`	$809.00M	USD	Point-in-time
Cash distribution to unitholders	`LimitedPartnersCapitalAccountDistributionAmount`	$87.00M	USD	1 Quarter
Cash distribution to unitholders	`LimitedPartnersCapitalAccountDistributionAmount`	$88.00M	USD	1 Quarter
Unit-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$3.00M	USD	1 Quarter
Unit-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$4.00M	USD	1 Quarter
Partnership net income (loss)	`NetIncomeLoss`	$-128.00M	USD	1 Quarter
Partnership net income (loss)	`NetIncomeLoss`	$109.00M	USD	1 Quarter
Ending balance	`PartnersCapital`	$758.00M	USD	Point-in-time
Ending balance	`PartnersCapital`	$784.00M	USD	Point-in-time
Ending balance	`PartnersCapital`	$546.00M	USD	Point-in-time
Ending balance	`PartnersCapital`	$809.00M	USD	Point-in-time

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