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Supplemental Financial Statement Information
 12 Months Ended
Dec. 31, 2017
Supplemental Financial Statement Information  
Supplemental Financial Statement Information
SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION:
Following are the financial statements of the Parent Company, which are included to provide additional information with respect to the Parent Company’s financial position, results of operations and cash flows on a stand-alone basis:
BALANCE SHEETS
 
 
December 31,
 
2017
 
2016
ASSETS
 
 
 
CURRENT ASSETS:
 
 
 
Cash and cash equivalents
$
1

 
$
2

Accounts receivable from related companies
65

 
55

Other current assets
1

 
—

Total current assets
67

 
57

PROPERTY, PLANT AND EQUIPMENT, net
27

 
36

ADVANCES TO AND INVESTMENTS IN UNCONSOLIDATED AFFILIATES
6,082

 
5,088

INTANGIBLE ASSETS, net
—

 
1

GOODWILL
9

 
9

OTHER NON-CURRENT ASSETS, net
8

 
10

Total assets
$
6,193

 
$
5,201

LIABILITIES AND PARTNERS’ CAPITAL
 
 
 
CURRENT LIABILITIES:
 
 
 
Accounts payable
$
—

 
$
1

Accounts payable to related companies
—

 
22

Interest payable
66

 
66

Accrued and other current liabilities
4

 
3

Total current liabilities
70

 
92

LONG-TERM DEBT, less current maturities
6,700

 
6,358

NOTE PAYABLE TO AFFILIATE
617

 
443

OTHER NON-CURRENT LIABILITIES
2

 
2

 
 
 
 
COMMITMENTS AND CONTINGENCIES

 

 
 
 
 
PARTNERS’ DEFICIT:
 
 
 
General Partner
(3
)
 
(3
)
Limited Partners:
 
 
 
Common Unitholders (1,079,145,561 and 1,046,947,157 units authorized, issued and outstanding as of December 31, 2017 and 2016, respectively)
(1,643
)
 
(1,871
)
Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017 and 2016)
450

 
180

Total partners’ deficit
(1,196
)
 
(1,694
)
Total liabilities and partners’ deficit
$
6,193

 
$
5,201



STATEMENTS OF OPERATIONS
 
 
Years Ended December 31,
 
2017
 
2016
 
2015
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
$
(31
)
 
$
(185
)
 
$
(112
)
OTHER INCOME (EXPENSE):
 
 
 
 
 
Interest expense, net of interest capitalized
(347
)
 
(327
)
 
(294
)
Equity in earnings of unconsolidated affiliates
1,381

 
1,511

 
1,601

Loss on extinguishment of debt
(47
)
 
—

 
—

Other, net
(2
)
 
(4
)
 
(5
)
INCOME BEFORE INCOME TAXES
954

 
995

 
1,190

Income tax expense
—

 
—

 
1

NET INCOME
954

 
995

 
1,189

General Partner’s interest in net income
2

 
3

 
3

Convertible Unitholders’ interest in income
37

 
9

 
—

Class D Unitholder’s interest in net income
—

 
—

 
3

Limited Partners’ interest in net income
$
915

 
$
983

 
$
1,183



STATEMENTS OF CASH FLOWS
 
 
Years Ended December 31,
 
2017
 
2016
 
2015
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES
$
831

 
$
918

 
$
1,103

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
Cash paid for Bakken Pipeline Transaction
—

 
—

 
(817
)
Contributions to unconsolidated affiliates
(861
)
 
(70
)
 
—

Capital expenditures
(1
)
 
(16
)
 
(19
)
Contributions in aid of construction costs
7

 
—

 
—

Net cash used in investing activities
(855
)
 
(86
)
 
(836
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
Proceeds from borrowings
2,219

 
225

 
3,672

Principal payments on debt
(1,881
)
 
(210
)
 
(1,985
)
Distributions to partners
(1,010
)
 
(1,022
)
 
(1,090
)
Proceeds from affiliate
174

 
176

 
210

Common Units issued for cash
568

 
—

 
—

Units repurchased under buyback program
—

 
—

 
(1,064
)
Debt issuance costs
(47
)
 
—

 
(11
)
Net cash provided by (used in) financing activities
23

 
(831
)
 
(268
)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(1
)
 
1

 
(1
)
CASH AND CASH EQUIVALENTS, beginning of period
2

 
1

 
2

CASH AND CASH EQUIVALENTS, end of period
$
1

 
$
2

 
$
1