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Supplemental Financial Statement Information
 9 Months Ended
Sep. 30, 2018
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
(unaudited)
 
September 30, 2018
 
December 31, 2017
ASSETS
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
1

 
$
1

Accounts receivable from related companies
100

 
65

Other current assets
1

 
1

Total current assets
102

 
67

Property, plant and equipment, net
27

 
27

Advances to and investments in unconsolidated affiliates
6,045

 
6,082

Goodwill
9

 
9

Other non-current assets, net
7

 
8

Total assets
$
6,190

 
$
6,193

LIABILITIES AND PARTNERS’ DEFICIT
 
 
 
Current liabilities:
 
 
 
Accounts payable to related companies
$
42

 
$
—

Interest payable
78

 
66

Accrued and other current liabilities
9

 
4

Total current liabilities
129

 
70

Long-term debt, less current maturities
6,415

 
6,700

Long-term notes payable – related companies
747

 
617

Other non-current liabilities
2

 
2

Commitments and contingencies

 

Partners’ deficit:
 
 
 
Limited Partners:
 
 
 
Series A Convertible Preferred Units
—

 
450

Common Unitholders
(1,099
)
 
(1,643
)
General Partner
(4
)
 
(3
)
Total partners’ deficit
(1,103
)
 
(1,196
)
Total liabilities and partners’ deficit
$
6,190

 
$
6,193

STATEMENTS OF OPERATIONS
(unaudited)
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
$
(9
)
 
$
(3
)
 
$
(20
)
 
$
(25
)
OTHER INCOME (EXPENSE):
 
 
 
 
 
 
 
Interest expense, net
(89
)
 
(88
)
 
(265
)
 
(257
)
Equity in earnings of unconsolidated affiliates
469

 
343

 
1,359

 
1,012

Losses on extinguishments of debt
—

 
—

 
—

 
(25
)
Other, net
—

 
—

 
3

 
(2
)
NET INCOME
371

 
252

 
1,077

 
703

Convertible Unitholders’ interest in income
—

 
11

 
33

 
25

General Partner’s interest in net income
1

 
1

 
3

 
2

Limited Partners’ interest in net income
$
370

 
$
240

 
$
1,041

 
$
676

STATEMENTS OF CASH FLOWS
(unaudited)
 
Nine Months Ended
September 30,
 
2018
 
2017
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES
$
993

 
$
620

CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
Contributions to unconsolidated affiliate
(250
)
 
(861
)
Capital expenditures
—

 
(1
)
Contributions in aid of construction costs
—

 
7

Sunoco LP Series A Preferred Units redemption
303

 
—

Net cash provided by (used in) investing activities
53

 
(855
)
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
Proceeds from borrowings
413

 
2,116

Principal payments on debt
(703
)
 
(1,795
)
Proceeds from affiliate
130

 
131

Distributions to partners
(886
)
 
(752
)
Units issued for cash
—

 
568

Debt issuance costs
—

 
(35
)
Net cash provided by (used in) financing activities
(1,046
)
 
233

CHANGE IN CASH AND CASH EQUIVALENTS
—

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

 
2

CASH AND CASH EQUIVALENTS, end of period
$
1

 
$
—