Supplemental Financial Statement Information

6 Months Ended

Jun. 30, 2019

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)



	June 30, 2019			December 31, 2018
ASSETS
Current assets:
Cash and cash equivalents	$	1		$	2
Accounts receivable from related companies	—			65
Other current assets	—			1
Total current assets	1			68
Property, plant and equipment, net	23			23
Advances to and investments in unconsolidated affiliates	25,411			26,581
Total assets	$	25,435		$	26,672
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities:
Accounts payable	$	—		$	2
Accounts payable to related companies	58			65
Interest payable	1			76
Accrued and other current liabilities	1			3
Total current liabilities	60			146
Long-term debt, less current maturities	124			5,519
Long-term notes payable – related companies	4,416			445
Other non-current liabilities	1			3
Commitments and contingencies
Partners’ capital
Limited Partners:
Common Unitholders	20,872			20,606
General Partner	(5		)	(5		)
Accumulated other comprehensive loss	(33		)	(42		)
Total partners’ capital	20,834			20,559
Total liabilities and partners’ capital	$	25,435		$	26,672

STATEMENTS OF OPERATIONS

(unaudited)



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
SELLING, GENERAL AND ADMINISTRATIVE EXPENSE	$	(5	)	$	(9	)	$	(6	)	$	(11	)
OTHER INCOME (EXPENSE):
Interest expense, net	—			(90		)	(63		)	(176		)
Interest expense, net – related company	(67		)	—			(88		)	—
Equity in earnings of unconsolidated affiliates	949			454			1,917			902
Losses on extinguishments of debt	—			—			(16		)	—
Other, net	—			—			3			3
INCOME BEFORE INCOME TAXES	877			355			1,747			718
Income tax benefit	(1		)	—			(1		)	—
NET INCOME	878			355			1,748			718
Series A Convertible Preferred Unitholders’ interest in income	—			12			—			33
General Partner’s interest in net income	1			1			2			2
Limited Partners’ interest in net income	$	877		$	342		$	1,746		$	683

STATEMENTS OF CASH FLOWS

(unaudited)



	Six Months Ended June 30,
	2019			2018
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES	$	2,948		$	626
INVESTING ACTIVITIES
Contributions to unconsolidated affiliate	—			(250		)
Sunoco LP Series A Preferred Units redemption	—			303
Net cash provided by investing activities	—			53
FINANCING ACTIVITIES
Proceeds from borrowings	—			355
Principal payments on debt	(1,220		)	(587		)
Proceeds from (payments to) affiliate	(180		)	85
Distributions to partners	(1,549		)	(532		)
Net cash used in financing activities	(2,949		)	(679		)
CHANGE IN CASH AND CASH EQUIVALENTS	(1		)	—
CASH AND CASH EQUIVALENTS, beginning of period	2			1
CASH AND CASH EQUIVALENTS, end of period	$	1		$	1