10-Q Filing

Sunoco LP CIK: 1552275 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001552275-21-000024`
Period End Date	20210331
Filing Date	20210507
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	sun-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 40 Cash Flow Statement 67 Stockholders Equity 15

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$95.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$97.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$295.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$410.00M	USD	Point-in-time
Receivables from affiliates	`DueFromAffiliateCurrent`	$11.00M	USD	Point-in-time
Receivables from affiliates	`DueFromAffiliateCurrent`	$11.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$382.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$430.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$62.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$54.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.00B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$847.00M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.23B	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.23B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$806.00M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$838.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.43B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.40B	USD	Point-in-time
Finance lease right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$13.00M	USD	Point-in-time
Finance lease right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$3.00M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$536.00M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$526.00M	USD	Point-in-time
Goodwill	`Goodwill`	$1.56B	USD	Point-in-time
Goodwill	`Goodwill`	$1.56B	USD	Point-in-time
Intangible assets	`IntangibleAssetsGrossExcludingGoodwill`	$894.00M	USD	Point-in-time
Intangible assets	`IntangibleAssetsGrossExcludingGoodwill`	$894.00M	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$320.00M	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$306.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$574.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$588.00M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$172.00M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$168.00M	USD	Point-in-time
Investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$134.00M	USD	Point-in-time
Investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$136.00M	USD	Point-in-time
Total assets	`Assets`	$5.27B	USD	Point-in-time
Total assets	`Assets`	$5.38B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$427.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$267.00M	USD	Point-in-time
Accounts payable to affiliates	`DueToAffiliateCurrent`	$79.00M	USD	Point-in-time
Accounts payable to affiliates	`DueToAffiliateCurrent`	$62.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$282.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$239.00M	USD	Point-in-time
Operating lease current liabilities	`OperatingLeaseLiabilityCurrent`	$19.00M	USD	Point-in-time
Operating lease current liabilities	`OperatingLeaseLiabilityCurrent`	$19.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$7.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$6.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$754.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$653.00M	USD	Point-in-time
Operating lease noncurrent liabilities	`OperatingLeaseLiabilityNoncurrent`	$528.00M	USD	Point-in-time
Operating lease noncurrent liabilities	`OperatingLeaseLiabilityNoncurrent`	$538.00M	USD	Point-in-time
Revolving line of credit	`LongTermLineOfCredit`	-	USD	Point-in-time
Revolving line of credit	`LongTermLineOfCredit`	$381.00M	USD	Point-in-time
Long-term debt, net	`OtherLongTermDebtNoncurrent`	$2.68B	USD	Point-in-time
Long-term debt, net	`OtherLongTermDebtNoncurrent`	$3.11B	USD	Point-in-time
Advances from affiliates	`DueToAffiliateCurrentAndNoncurrent`	$130.00M	USD	Point-in-time
Advances from affiliates	`DueToAffiliateCurrentAndNoncurrent`	$125.00M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$103.00M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$104.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$106.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$109.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.63B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.68B	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`	$632.00M	USD	Point-in-time
Total equity	`PartnersCapital`	$758.00M	USD	Point-in-time
Total equity	`PartnersCapital`	$546.00M	USD	Point-in-time
Total equity	`PartnersCapital`	$698.00M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$5.27B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$5.38B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.47B	USD	1 Quarter
Revenues	`Revenues`	$3.27B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.12B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.16B	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$34.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$24.00M	USD	1 Quarter
Other operating	`OtherCostAndExpenseOperating`	$95.00M	USD	1 Quarter
Other operating	`OtherCostAndExpenseOperating`	$61.00M	USD	1 Quarter
Lease expense	`OperatingLeaseExpense`	$14.00M	USD	1 Quarter
Lease expense	`OperatingLeaseExpense`	$15.00M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationAmortizationAndAccretionNet`	$45.00M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationAmortizationAndAccretionNet`	$47.00M	USD	1 Quarter
Total cost of sales and operating expenses	`OperatingCostsAndExpenses`	$3.27B	USD	1 Quarter
Total cost of sales and operating expenses	`OperatingCostsAndExpenses`	$3.35B	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-82.00M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$204.00M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$44.00M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$41.00M	USD	1 Quarter
Equity in earnings of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Equity in earnings of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Other income (expense), net	`GainsLossesOnExtinguishmentOfDebt`	$-7.00M	USD	1 Quarter
Other income (expense), net	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-125.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$157.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$154.00M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$-128.00M	USD	1 Quarter
Basic	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$1.61	USD	1 Quarter
Basic	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$-1.78	USD	1 Quarter
Diluted	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$1.60	USD	1 Quarter
Diluted	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$-1.78	USD	1 Quarter
Basic	`WeightedAverageLimitedPartnershipUnitsOutstanding`	83.34M	shares	1 Quarter
Basic	`WeightedAverageLimitedPartnershipUnitsOutstanding`	83.01M	shares	1 Quarter
Diluted	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	84.14M	shares	1 Quarter
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 67 line items

Line Item	Tag	Value	Unit	Period
Net income (loss) and comprehensive income (loss)	`ProfitLoss`	$154.00M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`ProfitLoss`	$-128.00M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationAmortizationAndAccretionNet`	$45.00M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationAmortizationAndAccretionNet`	$47.00M	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	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Other income (expense), net	`GainsLossesOnExtinguishmentOfDebt`	$-7.00M	USD	1 Quarter
Other income (expense), net	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Non-cash unit-based compensation expense	`ShareBasedCompensation`	$4.00M	USD	1 Quarter
Non-cash unit-based compensation expense	`ShareBasedCompensation`	$4.00M	USD	1 Quarter
Deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$1.00M	USD	1 Quarter
Deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.00M	USD	1 Quarter
Inventory valuation adjustment	`InventoryLIFOReservePeriodCharge`	$227.00M	USD	1 Quarter
Inventory valuation adjustment	`InventoryLIFOReservePeriodCharge`	$-100.00M	USD	1 Quarter
Equity in earnings of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Equity in earnings of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$115.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-237.00M	USD	1 Quarter
Receivables from affiliates	`IncreaseDecreaseInDueFromAffiliatesCurrent`	-	USD	1 Quarter
Receivables from affiliates	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-1.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-10.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-52.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-282.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$168.00M	USD	1 Quarter
Accounts payable to affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	$-17.00M	USD	1 Quarter
Accounts payable to affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	$-33.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-43.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-48.00M	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.00M	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-4.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$152.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$41.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.00M	USD	1 Quarter
Contributions to unconsolidated affiliate	`PaymentsForAdvanceToAffiliate`	-	USD	1 Quarter
Contributions to unconsolidated affiliate	`PaymentsForAdvanceToAffiliate`	$4.00M	USD	1 Quarter
Distributions from unconsolidated affiliate in excess of cumulative earnings	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$3.00M	USD	1 Quarter
Distributions from unconsolidated affiliate in excess of cumulative earnings	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$3.00M	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$6.00M	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.00M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.00M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$438.00M	USD	1 Quarter
Revolver borrowings	`ProceedsFromLinesOfCredit`	$453.00M	USD	1 Quarter
Revolver borrowings	`ProceedsFromLinesOfCredit`	$472.00M	USD	1 Quarter
Distributions to unitholders	`DistributionMadeToLimitedPartnerCashDistributionsPaid`	$88.00M	USD	1 Quarter
Distributions to unitholders	`DistributionMadeToLimitedPartnerCashDistributionsPaid`	$88.00M	USD	1 Quarter
Distributions to unitholders	`DistributionMadeToLimitedPartnerCashDistributionsPaid`	$69.00M	USD	Point-in-time
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-145.00M	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	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.00M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$95.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$97.00M	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`	$95.00M	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`	$97.00M	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`	$6.00M	USD	1 Quarter
Change in note payable to affiliate	`NotesIssued1`	$10.00M	USD	1 Quarter
Repayments of Lines of Credit	`RepaymentsOfLinesOfCredit`	$350.00M	USD	1 Quarter
Repayments of Lines of Credit	`RepaymentsOfLinesOfCredit`	$91.00M	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`PartnersCapital`	$632.00M	USD	Point-in-time
Beginning balance	`PartnersCapital`	$758.00M	USD	Point-in-time
Beginning balance	`PartnersCapital`	$546.00M	USD	Point-in-time
Beginning balance	`PartnersCapital`	$698.00M	USD	Point-in-time
Cash distribution to unitholders	`LimitedPartnersCapitalAccountDistributionAmount`	$88.00M	USD	1 Quarter
Cash distribution to unitholders	`LimitedPartnersCapitalAccountDistributionAmount`	$88.00M	USD	1 Quarter
Unit-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$4.00M	USD	1 Quarter
Unit-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$4.00M	USD	1 Quarter
Partners' Capital, Other	`PartnersCapitalOther`	$-4.00M	USD	1 Quarter
Partnership net income (loss)	`NetIncomeLoss`	$154.00M	USD	1 Quarter
Partnership net income (loss)	`NetIncomeLoss`	$-128.00M	USD	1 Quarter
Ending balance	`PartnersCapital`	$632.00M	USD	Point-in-time
Ending balance	`PartnersCapital`	$758.00M	USD	Point-in-time
Ending balance	`PartnersCapital`	$546.00M	USD	Point-in-time
Ending balance	`PartnersCapital`	$698.00M	USD	Point-in-time

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