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Condensed Consolidating Financial Information | 3 Months Ended
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Mar. 31, 2015
Condensed Consolidating Financial Information [Abstract] |
Condensed Consolidating Financial Information | 16. Condensed Consolidating Financial Information Our $1.05 billion aggregate principal amount of senior unsecured notes co-issued by Genesis Energy, L.P. and Genesis Energy Finance Corporation are fully and unconditionally guaranteed jointly and severally by all of Genesis Energy, L.P.’s current and future 100% owned domestic subsidiaries, except Genesis Free State Pipeline, LLC, Genesis NEJD Pipeline, LLC and certain other minor subsidiaries. Genesis NEJD Pipeline, LLC is 100% owned by Genesis Energy, L.P., the parent company. The remaining non-guarantor subsidiaries are owned by Genesis Crude Oil, L.P., a guarantor subsidiary. Genesis Energy Finance Corporation has no independent assets or operations. See Note 8 for additional information regarding our consolidated debt obligations. The following is condensed consolidating financial information for Genesis Energy, L.P., the guarantor subsidiaries and the non-guarantor subsidiaries. Unaudited Condensed Consolidating Balance Sheet March 31, 2015
| Genesis Energy, L.P. (Parent and Co-Issuer) |  | Genesis Energy Finance Corporation (Co-Issuer) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Genesis Energy, L.P. Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 9 |  |  | $ | — |  |  | $ | 8,789 |  |  | $ | 2,340 |  |  | $ | — |  |  | $ | 11,138 |
Other current assets | 1,465,246 |  |  | — |  |  | 284,622 |  |  | 48,182 |  |  | (1,501,248 | ) |  | 296,802 |
Total current assets | 1,465,255 |  |  | — |  |  | 293,411 |  |  | 50,522 |  |  | (1,501,248 | ) |  | 307,940 |
Fixed assets, at cost | — |  |  | — |  |  | 1,899,218 |  |  | 118,021 |  |  | — |  |  | 2,017,239 |
Less: Accumulated depreciation | — |  |  | — |  |  | (263,259 | ) |  | (23,818 | ) |  | — |  |  | (287,077 | )
Net fixed assets | — |  |  | — |  |  | 1,635,959 |  |  | 94,203 |  |  | — |  |  | 1,730,162 |
Goodwill | — |  |  | — |  |  | 325,046 |  |  | — |  |  | — |  |  | 325,046 |
Other assets, net | 27,140 |  |  | — |  |  | 269,385 |  |  | 145,184 |  |  | (152,864 | ) |  | 288,845 |
Equity investees | — |  |  | — |  |  | 620,147 |  |  | — |  |  | — |  |  | 620,147 |
Investments in subsidiaries | 1,417,120 |  |  | — |  |  | 126,985 |  |  | — |  |  | (1,544,105 | ) |  | — |
Total assets | $ | 2,909,515 |  |  | $ | — |  |  | $ | 3,270,933 |  |  | $ | 289,909 |  |  | $ | (3,198,217 | ) |  | $ | 3,272,140 |
LIABILITIES AND PARTNERS’ CAPITAL |  |  |  |  |  |  |  |  |  |  |
Current liabilities | $ | 17,635 |  |  | $ | — |  |  | $ | 1,818,022 |  |  | $ | 8,327 |  |  | $ | (1,501,413 | ) |  | $ | 342,571 |
Senior secured credit facility | 648,400 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 648,400 |
Senior unsecured notes | 1,050,604 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,050,604 |
Deferred tax liabilities | — |  |  | — |  |  | 19,363 |  |  | — |  |  | — |  |  | 19,363 |
Other liabilities | — |  |  | — |  |  | 15,130 |  |  | 155,891 |  |  | (152,695 | ) |  | 18,326 |
Total liabilities | 1,716,639 |  |  | — |  |  | 1,852,515 |  |  | 164,218 |  |  | (1,654,108 | ) |  | 2,079,264 |
Partners’ capital | 1,192,876 |  |  | — |  |  | 1,418,418 |  |  | 125,691 |  |  | (1,544,109 | ) |  | 1,192,876 |
Total liabilities and partners’ capital | $ | 2,909,515 |  |  | $ | — |  |  | $ | 3,270,933 |  |  | $ | 289,909 |  |  | $ | (3,198,217 | ) |  | $ | 3,272,140 |
Unaudited Condensed Consolidating Balance Sheet December 31, 2014
| Genesis Energy, L.P. (Parent and Co-Issuer) |  | Genesis Energy Finance Corporation (Co-Issuer) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Genesis Energy, L.P. Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 9 |  |  | $ | — |  |  | $ | 8,352 |  |  | $ | 1,101 |  |  | $ | — |  |  | $ | 9,462 |
Other current assets | 1,378,573 |  |  | — |  |  | 327,819 |  |  | 51,781 |  |  | (1,412,269 | ) |  | 345,904 |
Total current assets | 1,378,582 |  |  | — |  |  | 336,171 |  |  | 52,882 |  |  | (1,412,269 | ) |  | 355,366 |
Fixed assets, at cost | — |  |  | — |  |  | 1,781,158 |  |  | 117,900 |  |  | — |  |  | 1,899,058 |
Less: Accumulated depreciation | — |  |  | — |  |  | (245,548 | ) |  | (22,509 | ) |  | — |  |  | (268,057 | )
Net fixed assets | — |  |  | — |  |  | 1,535,610 |  |  | 95,391 |  |  | — |  |  | 1,631,001 |
Goodwill | — |  |  | — |  |  | 325,046 |  |  | — |  |  | — |  |  | 325,046 |
Other assets, net | 28,421 |  |  | — |  |  | 269,252 |  |  | 146,700 |  |  | (154,192 | ) |  | 290,181 |
Equity investees | — |  |  | — |  |  | 628,780 |  |  | — |  |  | — |  |  | 628,780 |
Investments in subsidiaries | 1,434,255 |  |  | — |  |  | 126,035 |  |  | — |  |  | (1,560,290 | ) |  | — |
Total assets | $ | 2,841,258 |  |  | $ | — |  |  | $ | 3,220,894 |  |  | $ | 294,973 |  |  | $ | (3,126,751 | ) |  | $ | 3,230,374 |
LIABILITIES AND PARTNERS’ CAPITAL |  |  |  |  |  |  |  |  |  |  |
Current liabilities | $ | 11,016 |  |  | $ | — |  |  | $ | 1,751,548 |  |  | $ | 13,013 |  |  | $ | (1,412,432 | ) |  | $ | 363,145 |
Senior secured credit facility | 550,400 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 550,400 |
Senior unsecured notes | 1,050,639 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,050,639 |
Deferred tax liabilities | — |  |  | — |  |  | 18,754 |  |  | — |  |  | — |  |  | 18,754 |
Other liabilities | — |  |  | — |  |  | 15,082 |  |  | 157,172 |  |  | (154,021 | ) |  | 18,233 |
Total liabilities | 1,612,055 |  |  | — |  |  | 1,785,384 |  |  | 170,185 |  |  | (1,566,453 | ) |  | 2,001,171 |
Partners’ capital | 1,229,203 |  |  | — |  |  | 1,435,510 |  |  | 124,788 |  |  | (1,560,298 | ) |  | 1,229,203 |
Total liabilities and partners’ capital | $ | 2,841,258 |  |  | $ | — |  |  | $ | 3,220,894 |  |  | $ | 294,973 |  |  | $ | (3,126,751 | ) |  | $ | 3,230,374 |
Unaudited Condensed Consolidating Statement of Operations Three Months Ended March 31, 2015
| Genesis Energy, L.P. (Parent and Co-Issuer) |  | Genesis Energy Finance Corporation (Co-Issuer) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Genesis Energy, L.P. Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |  |
Pipeline transportation services | $ | — |  |  | $ | — |  |  | $ | 13,414 |  |  | $ | 6,444 |  |  | $ | — |  |  | $ | 19,858 |
Refinery services | — |  |  | — |  |  | 45,319 |  |  | 2,112 |  |  | (1,307 | ) |  | 46,124 |
Marine transportation | — |  |  | — |  |  | 57,371 |  |  | — |  |  | — |  |  | 57,371 |
Supply and logistics | — |  |  | — |  |  | 401,649 |  |  | 3,966 |  |  | (2,111 | ) |  | 403,504 |
Total revenues | — |  |  | — |  |  | 517,753 |  |  | 12,522 |  |  | (3,418 | ) |  | 526,857 |
COSTS AND EXPENSES: |  |  |  |  |  |  |  |  |  |  |
Supply and logistics costs | — |  |  | — |  |  | 394,834 |  |  | 3,433 |  |  | (2,110 | ) |  | 396,157 |
Marine transportation costs | — |  |  | — |  |  | 31,594 |  |  | — |  |  | — |  |  | 31,594 |
Refinery services operating costs | — |  |  | — |  |  | 26,219 |  |  | 2,119 |  |  | (1,311 | ) |  | 27,027 |
Pipeline transportation operating costs | — |  |  | — |  |  | 6,481 |  |  | 433 |  |  | — |  |  | 6,914 |
General and administrative | — |  |  | — |  |  | 13,192 |  |  | 29 |  |  | — |  |  | 13,221 |
Depreciation and amortization | — |  |  | — |  |  | 25,796 |  |  | 1,329 |  |  | — |  |  | 27,125 |
Total costs and expenses | — |  |  | — |  |  | 498,116 |  |  | 7,343 |  |  | (3,421 | ) |  | 502,038 |
OPERATING INCOME | — |  |  | — |  |  | 19,637 |  |  | 5,179 |  |  | 3 |  |  | 24,819 |
Equity in earnings of subsidiaries | 39,407 |  |  | — |  |  | 1,387 |  |  | — |  |  | (40,794 | ) |  | — |
Equity in earnings of equity investees | — |  |  | — |  |  | 15,519 |  |  | — |  |  | — |  |  | 15,519 |
Interest (expense) income, net | (19,192 | ) |  | — |  |  | 3,814 |  |  | (3,837 | ) |  | — |  |  | (19,215 | )
Income before income taxes | 20,215 |  |  | — |  |  | 40,357 |  |  | 1,342 |  |  | (40,791 | ) |  | 21,123 |
Income tax expense | — |  |  | — |  |  | (911 | ) |  | 3 |  |  | — |  |  | (908 | )
NET INCOME | $ | 20,215 |  |  | $ | — |  |  | $ | 39,446 |  |  | $ | 1,345 |  |  | $ | (40,791 | ) |  | $ | 20,215 |
Unaudited Condensed Consolidating Statement of Operations Three Months Ended March 31, 2014
| Genesis Energy, L.P. (Parent and Co-Issuer) |  | Genesis Energy Finance Corporation (Co-Issuer) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Genesis Energy, L.P. Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |  |
Pipeline transportation services | $ | — |  |  | $ | — |  |  | $ | 14,607 |  |  | $ | 6,313 |  |  | $ | — |  |  | $ | 20,920 |
Refinery services | — |  |  | — |  |  | 51,730 |  |  | 6,074 |  |  | (3,611 | ) |  | 54,193 |
Marine transportation | — |  |  | — |  |  | 56,293 |  |  | — |  |  | — |  |  | 56,293 |
Supply and logistics | — |  |  | — |  |  | 885,744 |  |  | 32,211 |  |  | (29,642 | ) |  | 888,313 |
Total revenues | — |  |  | — |  |  | 1,008,374 |  |  | 44,598 |  |  | (33,253 | ) |  | 1,019,719 |
COSTS AND EXPENSES: |  |  |  |  |  |  |  |  |  |  |
Supply and logistics costs | — |  |  | — |  |  | 875,346 |  |  | 30,874 |  |  | (29,640 | ) |  | 876,580 |
Marine transportation costs | — |  |  | — |  |  | 35,774 |  |  | — |  |  | — |  |  | 35,774 |
Refinery services operating costs | — |  |  | — |  |  | 31,591 |  |  | 5,846 |  |  | (4,242 | ) |  | 33,195 |
Pipeline transportation operating costs | — |  |  | — |  |  | 7,055 |  |  | 423 |  |  | — |  |  | 7,478 |
General and administrative | — |  |  | — |  |  | 11,980 |  |  | 30 |  |  | — |  |  | 12,010 |
Depreciation and amortization | — |  |  | — |  |  | 17,995 |  |  | 1,285 |  |  | — |  |  | 19,280 |
Total costs and expenses | — |  |  | — |  |  | 979,741 |  |  | 38,458 |  |  | (33,882 | ) |  | 984,317 |
OPERATING INCOME | — |  |  | — |  |  | 28,633 |  |  | 6,140 |  |  | 629 |  |  | 35,402 |
Equity in earnings of subsidiaries | 42,579 |  |  | — |  |  | 2,164 |  |  | — |  |  | (44,743 | ) |  | — |
Equity in earnings of equity investees | — |  |  | — |  |  | 7,818 |  |  | — |  |  | — |  |  | 7,818 |
Interest (expense) income, net | (12,804 | ) |  | — |  |  | 3,966 |  |  | (3,966 | ) |  | — |  |  | (12,804 | )
Income before income taxes | 29,775 |  |  | — |  |  | 42,581 |  |  | 2,174 |  |  | (44,114 | ) |  | 30,416 |
Income tax benefit (expense) | — |  |  | — |  |  | (587 | ) |  | (54 | ) |  | — |  |  | (641 | )
NET INCOME | $ | 29,775 |  |  | $ | — |  |  | $ | 41,994 |  |  | $ | 2,120 |  |  | $ | (44,114 | ) |  | $ | 29,775 |
Unaudited Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2015
| Genesis Energy, L.P. (Parent and Co-Issuer) |  | Genesis Energy Finance Corporation (Co-Issuer) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Genesis Energy, L.P. Consolidated
Net cash (used in) provided by operating activities | $ | (52,471 | ) |  | $ | — |  |  | $ | 157,725 |  |  | $ | 2,729 |  |  | $ | (45,518 | ) |  | $ | 62,465 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Payments to acquire fixed and intangible assets | — |  |  | — |  |  | (111,356 | ) |  | (148 | ) |  | — |  |  | (111,504 | )
Cash distributions received from equity investees - return of investment | 11,013 |  |  | — |  |  | 7,827 |  |  | — |  |  | (11,013 | ) |  | 7,827 |
Investments in equity investees | — |  |  | — |  |  | (1,750 | ) |  | — |  |  | — |  |  | (1,750 | )
Repayments on loan to non-guarantor subsidiary | — |  |  | — |  |  | 1,329 |  |  | — |  |  | (1,329 | ) |  | — |
Proceeds from asset sales | — |  |  | — |  |  | 1,768 |  |  | — |  |  | — |  |  | 1,768 |
Other, net | — |  |  | — |  |  | 29 |  |  | — |  |  | — |  |  | 29 |
Net cash provided by (used) in investing activities | 11,013 |  |  | — |  |  | (102,153 | ) |  | (148 | ) |  | (12,342 | ) |  | (103,630 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Borrowings on senior secured credit facility | 226,200 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 226,200 |
Repayments on senior secured credit facility | (128,200 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (128,200 | )
Distributions to partners/owners | (56,542 | ) |  | — |  |  | (56,542 | ) |  | — |  |  | 56,542 |  |  | (56,542 | )
Other, net | — |  |  | — |  |  | 1,407 |  |  | (1,342 | ) |  | 1,318 |  |  | 1,383 |
Net cash provided by (used in) financing activities | 41,458 |  |  | — |  |  | (55,135 | ) |  | (1,342 | ) |  | 57,860 |  |  | 42,841 |
Net (decrease) increase in cash and cash equivalents | — |  |  | — |  |  | 437 |  |  | 1,239 |  |  | — |  |  | 1,676 |
Cash and cash equivalents at beginning of period | 9 |  |  | — |  |  | 8,352 |  |  | 1,101 |  |  | — |  |  | 9,462 |
Cash and cash equivalents at end of period | $ | 9 |  |  | $ | — |  |  | $ | 8,789 |  |  | $ | 2,340 |  |  | $ | — |  |  | $ | 11,138 |
Unaudited Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2014
| Genesis Energy, L.P. (Parent and Co-Issuer) |  | Genesis Energy Finance Corporation (Co-Issuer) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Genesis Energy, L.P. Consolidated
Net cash (used in) provided by operating activities | $ | (27,470 | ) |  | $ | — |  |  | $ | 162,508 |  |  | $ | 2,522 |  |  | $ | (31,472 | ) |  | $ | 106,088 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Payments to acquire fixed and intangible assets | — |  |  | — |  |  | (104,130 | ) |  | (124 | ) |  | — |  |  | (104,254 | )
Cash distributions received from equity investees - return of investment | 17,222 |  |  | — |  |  | 2,636 |  |  | — |  |  | (17,222 | ) |  | 2,636 |
Investments in equity investees | — |  |  | — |  |  | (10,709 | ) |  | — |  |  | — |  |  | (10,709 | )
Repayments on loan to non-guarantor subsidiary | — |  |  | — |  |  | 1,201 |  |  | — |  |  | (1,201 | ) |  | — |
Proceeds from asset sales | — |  |  | — |  |  | 72 |  |  | — |  |  | — |  |  | 72 |
Other, net | — |  |  | — |  |  | (1,270 | ) |  | — |  |  | — |  |  | (1,270 | )
Net cash used in investing activities | 17,222 |  |  | — |  |  | (112,200 | ) |  | (124 | ) |  | (18,423 | ) |  | (113,525 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Borrowings on senior secured credit facility | 249,900 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 249,900 |
Repayments on senior secured credit facility | (192,200 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (192,200 | )
Distributions to partners/owners | (47,453 | ) |  | — |  |  | (47,453 | ) |  | (1,251 | ) |  | 48,704 |  |  | (47,453 | )
Other, net | — |  |  | — |  |  | (42 | ) |  | (1,149 | ) |  | 1,191 |  |  | — |
Net cash provided by (used in) financing activities | 10,247 |  |  | — |  |  | (47,495 | ) |  | (2,400 | ) |  | 49,895 |  |  | 10,247 |
Net (decrease) increase in cash and cash equivalents | (1 | ) |  | — |  |  | 2,813 |  |  | (2 | ) |  | — |  |  | 2,810 |
Cash and cash equivalents at beginning of period | 20 |  |  | — |  |  | 8,061 |  |  | 785 |  |  | — |  |  | 8,866 |
Cash and cash equivalents at end of period | $ | 19 |  |  | $ | — |  |  | $ | 10,874 |  |  | $ | 783 |  |  | $ | — |  |  | $ | 11,676 |

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
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