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Supplemental Financial Statement Information
12 Months Ended
Dec. 31, 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
 
 
December 31,
 
2018
 
2017
ASSETS
 
 
 
CURRENT ASSETS:
 
 
 
Cash and cash equivalents
$
2

 
$
1

Accounts receivable from related companies
65

 
65

Other current assets
1

 
1

Total current assets
68

 
67

PROPERTY, PLANT AND EQUIPMENT, net
23

 
27

ADVANCES TO AND INVESTMENTS IN UNCONSOLIDATED AFFILIATES
26,581

 
6,082

GOODWILL

 
9

OTHER NON-CURRENT ASSETS, net

 
8

Total assets
$
26,672

 
$
6,193

LIABILITIES AND PARTNERS’ CAPITAL
 
 
 
CURRENT LIABILITIES:
 
 
 
Accounts payable
$
2

 
$

Accounts payable to related companies
65

 

Interest payable
76

 
66

Accrued and other current liabilities
3

 
4

Total current liabilities
146

 
70

LONG-TERM DEBT, less current maturities
5,519

 
6,700

NOTE PAYABLE TO AFFILIATE
445

 
617

OTHER NON-CURRENT LIABILITIES
3

 
2

 
 
 
 
COMMITMENTS AND CONTINGENCIES

 

 
 
 
 
PARTNERS’ CAPITAL (DEFICIT):
 
 
 
General Partner
(5
)
 
(3
)
Limited Partners:
 
 
 
Common Unitholders (2,619,368,605 and 1,079,145,561 units authorized, issued and outstanding as of December 31, 2018 and 2017, respectively)
20,606

 
(1,643
)
Series A Convertible Preferred Units (329,295,770 units authorized, issued and outstanding as of December 31, 2017)

 
450

Accumulated other comprehensive income (loss)
(42
)
 

Total partners’ capital (deficit)
20,559

 
(1,196
)
Total liabilities and partners’ capital (deficit)
$
26,672

 
$
6,193



STATEMENTS OF OPERATIONS
 
 
Years Ended December 31,
 
2018
 
2017
 
2016
DEPRECIATION, DEPLETION AND AMORTIZATION
$
(4
)
 
$

 
$

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
(37
)
 
(31
)
 
(185
)
OTHER INCOME (EXPENSE):
 
 
 
 
 
Interest expense, net of interest capitalized
(346
)
 
(347
)
 
(327
)
Interest expense - affiliates
(8
)
 

 

Equity in earnings of unconsolidated affiliates
2,092

 
1,381

 
1,511

Loss on extinguishment of debt

 
(47
)
 

Other, net
(3
)
 
(2
)
 
(4
)
INCOME BEFORE INCOME TAX EXPENSE
1,694

 
954

 
995

Income tax expense

 

 

NET INCOME
1,694

 
954

 
995

General Partner’s interest in net income
3

 
2

 
3

Convertible Unitholders’ interest in income
33

 
37

 
9

Limited Partners’ interest in net income
$
1,658

 
$
915

 
$
983



STATEMENTS OF CASH FLOWS
 
 
Years Ended December 31,
 
2018
 
2017
 
2016
OPERATING ACTIVITIES
$
2,245

 
$
831

 
$
918

INVESTING ACTIVITIES:
 
 
 
 
 
Contributions to unconsolidated affiliates
(250
)
 
(861
)
 
(70
)
Capital expenditures

 
(1
)
 
(16
)
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
)
 
(86
)
FINANCING ACTIVITIES:
 
 
 
 
 
Proceeds from borrowings
463

 
2,219

 
225

Principal payments on debt
(1,651
)
 
(1,881
)
 
(210
)
Distributions to partners
(1,684
)
 
(1,010
)
 
(1,022
)
Proceeds from affiliate
575

 
174

 
176

Common Units issued for cash

 
568

 

Debt issuance costs

 
(47
)
 

Net cash (used in) provided by financing activities
(2,297
)
 
23

 
(831
)
Increase (decrease) in cash and cash equivalents
1

 
(1
)
 
1

Cash and cash equivalents, beginning of period
1

 
2

 
1

Cash and cash equivalents, end of period
$
2

 
$
1

 
$
2