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Condensed Consolidating Financial Information | 12 Months Ended
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Dec. 31, 2015
Condensed Consolidating Financial Statements Disclosure [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information The Company provides condensed consolidating financial information for its subsidiaries that are guarantors of its registered debt. As of December 31, 2015, the subsidiary guarantors, which are 100% owned by the Company, have jointly and severally guaranteed, on a full, unconditional and unsecured basis, the Company’s outstanding Senior Unsecured Notes. The subsidiary guarantees (i) rank equally in right of payment with all of the existing and future senior debt of the subsidiary guarantors; (ii) rank senior to all of the existing and future subordinated debt of the subsidiary guarantors; (iii) are effectively subordinated in right of payment to any existing or future secured obligations of the subsidiary guarantors to the extent of the value of the assets securing such obligations; (iv) are structurally subordinated to all debt and other obligations of the subsidiaries of the guarantors who are not themselves subsidiary guarantors; and (v) are only released under certain customary circumstances. The Company’s subsidiary guarantors guarantee payments of principal and interest under the Company’s registered notes. Certain of the Company’s wholly owned subsidiaries that were sold in February 2014, as discussed in Note 3, guaranteed the Company’s registered debt. Upon the closing of the sale, these subsidiaries were released from their guarantees. The condensed consolidating financial information in the tables below reflects these subsidiaries’ financial information through the date of the sale. The following condensed consolidating financial information represents the financial information of SandRidge Energy, Inc., its wholly owned subsidiary guarantors and its non-guarantor subsidiaries, prepared on the equity basis of accounting. The non-guarantor subsidiaries, including consolidated VIEs, majority owned subsidiaries and certain immaterial wholly owned subsidiaries, are included in the non-guarantors column in the tables below. The financial information may not necessarily be indicative of the financial position, results of operations or cash flows had the subsidiary guarantors operated as independent entities. Condensed Consolidating Balance Sheets
| December 31, 2015
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 426,917 |  |  | $ | 847 |  |  | $ | 7,824 |  |  | $ | — |  |  | $ | 435,588 |
Accounts receivable, net | — |  |  | 122,606 |  |  | 4,781 |  |  | — |  |  | 127,387 |
Intercompany accounts receivable | 1,226,994 |  |  | 1,305,573 |  |  | 30,683 |  |  | (2,563,250 | ) |  | — |
Derivative contracts | — |  |  | 84,349 |  |  | — |  |  | — |  |  | 84,349 |
Prepaid expenses | — |  |  | 6,826 |  |  | 7 |  |  | — |  |  | 6,833 |
Other current assets | — |  |  | 19,931 |  |  | — |  |  | — |  |  | 19,931 |
Total current assets | 1,653,911 |  |  | 1,540,132 |  |  | 43,295 |  |  | (2,563,250 | ) |  | 674,088 |
Property, plant and equipment, net | — |  |  | 2,124,532 |  |  | 110,170 |  |  | — |  |  | 2,234,702 |
Investment in subsidiaries | 2,749,514 |  |  | 8,531 |  |  | — |  |  | (2,758,045 | ) |  | — |
Other assets | 72,259 |  |  | 16,008 |  |  | — |  |  | (5,902 | ) |  | 82,365 |
Total assets | $ | 4,475,684 |  |  | $ | 3,689,203 |  |  | $ | 153,465 |  |  | $ | (5,327,197 | ) |  | $ | 2,991,155 |
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 160,122 |  |  | $ | 265,767 |  |  | $ | 2,528 |  |  | $ | — |  |  | $ | 428,417 |
Intercompany accounts payable | 1,337,688 |  |  | 1,192,569 |  |  | 32,993 |  |  | (2,563,250 | ) |  | — |
Derivative contracts | — |  |  | 573 |  |  | — |  |  | — |  |  | 573 |
Asset retirement obligations | — |  |  | 8,399 |  |  | — |  |  | — |  |  | 8,399 |
Total current liabilities | 1,497,810 |  |  | 1,467,308 |  |  | 35,521 |  |  | (2,563,250 | ) |  | 437,389 |
Investment in subsidiaries | 1,038,303 |  |  | 400,771 |  |  | — |  |  | (1,439,074 | ) |  | — |
Long-term debt | 3,637,408 |  |  | — |  |  | — |  |  | (5,902 | ) |  | 3,631,506 |
Asset retirement obligations | — |  |  | 95,179 |  |  | — |  |  | — |  |  | 95,179 |
Other long-term obligations | 80 |  |  | 14,734 |  |  | — |  |  | — |  |  | 14,814 |
Total liabilities | 6,173,601 |  |  | 1,977,992 |  |  | 35,521 |  |  | (4,008,226 | ) |  | 4,178,888 |
Stockholders’ (Deficit) Equity |  |  |  |  |  |  |  |  |
SandRidge Energy, Inc. stockholders’ (deficit) equity | (1,697,917 | ) |  | 1,711,211 |  |  | 117,944 |  |  | (1,829,155 | ) |  | (1,697,917 | )
Noncontrolling interest | — |  |  | — |  |  | — |  |  | 510,184 |  |  | 510,184 |
Total stockholders’ (deficit) equity | (1,697,917 | ) |  | 1,711,211 |  |  | 117,944 |  |  | (1,318,971 | ) |  | (1,187,733 | )
Total liabilities and stockholders’ (deficit) equity | $ | 4,475,684 |  |  | $ | 3,689,203 |  |  | $ | 153,465 |  |  | $ | (5,327,197 | ) |  | $ | 2,991,155 |
| December 31, 2014
| Parent(1) |  | Guarantors(1)(2) |  | Non-Guarantors(3) |  | Eliminations(2)(3) |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 170,468 |  |  | $ | 1,398 |  |  | $ | 9,387 |  |  | $ | — |  |  | $ | 181,253 |
Accounts receivable, net | 7 |  |  | 299,764 |  |  | 30,313 |  |  | (7 | ) |  | 330,077 |
Intercompany accounts receivable | 751,376 |  |  | 1,339,152 |  |  | 41,679 |  |  | (2,132,207 | ) |  | — |
Derivative contracts | — |  |  | 284,825 |  |  | 45,043 |  |  | (38,454 | ) |  | 291,414 |
Prepaid expenses | — |  |  | 7,971 |  |  | 10 |  |  | — |  |  | 7,981 |
Other current assets | — |  |  | 21,193 |  |  | — |  |  | — |  |  | 21,193 |
Total current assets | 921,851 |  |  | 1,954,303 |  |  | 126,432 |  |  | (2,170,668 | ) |  | 831,918 |
Property, plant and equipment, net | — |  |  | 5,137,702 |  |  | 1,077,355 |  |  | — |  |  | 6,215,057 |
Investment in subsidiaries | 6,606,198 |  |  | 25,944 |  |  | — |  |  | (6,632,142 | ) |  | — |
Derivative contracts | — |  |  | 47,003 |  |  | — |  |  | — |  |  | 47,003 |
Other assets | 152,286 |  |  | 18,197 |  |  | 666 |  |  | (5,902 | ) |  | 165,247 |
Total assets | $ | 7,680,335 |  |  | $ | 7,183,149 |  |  | $ | 1,204,453 |  |  | $ | (8,808,712 | ) |  | $ | 7,259,225 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 151,825 |  |  | $ | 526,941 |  |  | $ | 4,633 |  |  | $ | (7 | ) |  | $ | 683,392 |
Intercompany accounts payable | 1,365,210 |  |  | 731,103 |  |  | 35,894 |  |  | (2,132,207 | ) |  | — |
Derivative contracts | — |  |  | 38,454 |  |  | — |  |  | (38,454 | ) |  | — |
Deferred tax liability | 95,843 |  |  | — |  |  | — |  |  | — |  |  | 95,843 |
Other current liabilities | — |  |  | 5,216 |  |  | — |  |  | — |  |  | 5,216 |
Total current liabilities | 1,612,878 |  |  | 1,301,714 |  |  | 40,527 |  |  | (2,170,668 | ) |  | 784,451 |
Investment in subsidiaries | 928,217 |  |  | 134,013 |  |  | — |  |  | (1,062,230 | ) |  | — |
Long-term debt | 3,201,338 |  |  | — |  |  | — |  |  | (5,902 | ) |  | 3,195,436 |
Asset retirement obligations | — |  |  | 54,402 |  |  | — |  |  | — |  |  | 54,402 |
Other long-term obligations | 77 |  |  | 15,039 |  |  | — |  |  | — |  |  | 15,116 |
Total liabilities | 5,742,510 |  |  | 1,505,168 |  |  | 40,527 |  |  | (3,238,800 | ) |  | 4,049,405 |
Equity |  |  |  |  |  |  |  |  |
SandRidge Energy, Inc. stockholders’ equity | 1,937,825 |  |  | 5,677,981 |  |  | 1,163,926 |  |  | (6,841,907 | ) |  | 1,937,825 |
Noncontrolling interest | — |  |  | — |  |  | — |  |  | 1,271,995 |  |  | 1,271,995 |
Total equity | 1,937,825 |  |  | 5,677,981 |  |  | 1,163,926 |  |  | (5,569,912 | ) |  | 3,209,820 |
Total liabilities and equity | $ | 7,680,335 |  |  | $ | 7,183,149 |  |  | $ | 1,204,453 |  |  | $ | (8,808,712 | ) |  | $ | 7,259,225 |
____________________
(1) | Parent accounts payable and accrued expenses have decreased and intercompany accounts payable have increased by approximately $49.5 million for amounts previously misclassified. Guarantor accounts payable and accrued expenses have increased and intercompany accounts payable have decreased by a corresponding amount.
(2) | Amounts presented as property, plant and equipment have been revised to include approximately $150.4 million previously misclassified as investment in subsidiary.
(3) | Amounts previously misclassified as property, plant and equipment and SandRidge Energy, Inc. stockholders’ equity totaling approximately $150.4 million are now presented as Guarantor property, plant and equipment.
Condensed Consolidating Statements of Operations
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In thousands)
Year Ended December 31, 2015 |  |  |  |  |  |  |  |  |
Total revenues | $ | — |  |  | $ | 682,778 |  |  | $ | 85,939 |  |  | $ | (8 | ) |  | $ | 768,709 |
Expenses |  |  |  |  |  |  |  |  |
Direct operating expenses | — |  |  | 364,483 |  |  | 10,879 |  |  | (8 | ) |  | 375,354 |
General and administrative | 213 |  |  | 145,796 |  |  | 4,157 |  |  | — |  |  | 150,166 |
Depreciation, depletion, amortization and accretion | — |  |  | 339,647 |  |  | 32,125 |  |  | — |  |  | 371,772 |
Impairment | — |  |  | 3,599,810 |  |  | 934,879 |  |  | — |  |  | 4,534,689 |
Gain on derivative contracts | — |  |  | (65,049 | ) |  | (8,012 | ) |  | — |  |  | (73,061 | )
Loss on settlement of contract | — |  |  | 50,976 |  |  | — |  |  | — |  |  | 50,976 |
Loss (gain) on sale of assets | — |  |  | 2,217 |  |  | (726 | ) |  | — |  |  | 1,491 |
Total expenses | 213 |  |  | 4,437,880 |  |  | 973,302 |  |  | (8 | ) |  | 5,411,387 |
Loss from operations | (213 | ) |  | (3,755,102 | ) |  | (887,363 | ) |  | — |  |  | (4,642,678 | )
Equity earnings from subsidiaries | (4,017,082 | ) |  | (263,847 | ) |  | — |  |  | 4,280,929 |  |  | — |
Interest expense, net | (321,378 | ) |  | (43 | ) |  | — |  |  | — |  |  | (321,421 | )
Gain on extinguishment of debt | 641,131 |  |  | — |  |  | — |  |  | — |  |  | 641,131 |
Other income, net | — |  |  | 1,910 |  |  | 130 |  |  | — |  |  | 2,040 |
Loss before income taxes | (3,697,542 | ) |  | (4,017,082 | ) |  | (887,233 | ) |  | 4,280,929 |  |  | (4,320,928 | )
Income tax expense | 3 |  |  | — |  |  | 120 |  |  | — |  |  | 123 |
Net loss | (3,697,545 | ) |  | (4,017,082 | ) |  | (887,353 | ) |  | 4,280,929 |  |  | (4,321,051 | )
Less: net loss attributable to noncontrolling interest | — |  |  | — |  |  | — |  |  | (623,506 | ) |  | (623,506 | )
Net loss attributable to SandRidge Energy, Inc. | $ | (3,697,545 | ) |  | $ | (4,017,082 | ) |  | $ | (887,353 | ) |  | $ | 4,904,435 |  |  | $ | (3,697,545 | )
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In thousands)
Year Ended December 31, 2014 |  |  |  |  |  |  |  |  |
Total revenues | $ | — |  |  | $ | 1,341,531 |  |  | $ | 217,367 |  |  | $ | (140 | ) |  | $ | 1,558,758 |
Expenses |  |  |  |  |  |  |  |  |
Direct operating expenses | — |  |  | 467,175 |  |  | 16,854 |  |  | (140 | ) |  | 483,889 |
General and administrative | 331 |  |  | 118,249 |  |  | 4,285 |  |  | — |  |  | 122,865 |
Depreciation, depletion, amortization and accretion | — |  |  | 446,149 |  |  | 56,874 |  |  | — |  |  | 503,023 |
Impairment | — |  |  | 150,125 |  |  | 42,643 |  |  | — |  |  | 192,768 |
Gain on derivative contracts | — |  |  | (292,733 | ) |  | (41,278 | ) |  | — |  |  | (334,011 | )
Total expenses | 331 |  |  | 888,965 |  |  | 79,378 |  |  | (140 | ) |  | 968,534 |
(Loss) income from operations | (331 | ) |  | 452,566 |  |  | 137,989 |  |  | — |  |  | 590,224 |
Equity earnings from subsidiaries | 495,154 |  |  | 38,967 |  |  | — |  |  | (534,121 | ) |  | — |
Interest (expense) income, net | (244,209 | ) |  | 100 |  |  | — |  |  | — |  |  | (244,109 | )
Other income (expense), net | — |  |  | 3,521 |  |  | (31 | ) |  | — |  |  | 3,490 |
Income before income taxes | 250,614 |  |  | 495,154 |  |  | 137,958 |  |  | (534,121 | ) |  | 349,605 |
Income tax (benefit) expense | (2,671 | ) |  | — |  |  | 378 |  |  | — |  |  | (2,293 | )
Net income | 253,285 |  |  | 495,154 |  |  | 137,580 |  |  | (534,121 | ) |  | 351,898 |
Less: net income attributable to noncontrolling interest | — |  |  | — |  |  | — |  |  | 98,613 |  |  | 98,613 |
Net income attributable to SandRidge Energy, Inc. | $ | 253,285 |  |  | $ | 495,154 |  |  | $ | 137,580 |  |  | $ | (632,734 | ) |  | $ | 253,285 |
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In thousands)
Year Ended December 31, 2013 |  |  |  |  |  |  |  |  |
Total revenues | $ | — |  |  | $ | 1,675,481 |  |  | $ | 308,300 |  |  | $ | (393 | ) |  | $ | 1,983,388 |
Expenses |  |  |  |  |  |  |  |  |
Direct operating expenses | — |  |  | 654,080 |  |  | 29,143 |  |  | (393 | ) |  | 682,830 |
General and administrative | 329 |  |  | 323,808 |  |  | 6,288 |  |  | — |  |  | 330,425 |
Depreciation, depletion, amortization and accretion | — |  |  | 581,435 |  |  | 85,210 |  |  | — |  |  | 666,645 |
Impairment | — |  |  | 15,038 |  |  | 11,242 |  |  | — |  |  | 26,280 |
Loss on derivative contracts | — |  |  | 24,702 |  |  | 22,421 |  |  | — |  |  | 47,123 |
Loss on sale of assets | — |  |  | 291,743 |  |  | 107,343 |  |  | — |  |  | 399,086 |
Total expenses | 329 |  |  | 1,890,806 |  |  | 261,647 |  |  | (393 | ) |  | 2,152,389 |
(Loss) income from operations | (329 | ) |  | (215,325 | ) |  | 46,653 |  |  | — |  |  | (169,001 | )
Equity earnings from subsidiaries | (195,118 | ) |  | 3,075 |  |  | — |  |  | 192,043 |  |  | — |
Interest (expense) income, net | (271,193 | ) |  | 959 |  |  | — |  |  | — |  |  | (270,234 | )
Loss on extinguishment of debt | (82,005 | ) |  | — |  |  | — |  |  | — |  |  | (82,005 | )
Other income (expense), net | — |  |  | 16,173 |  |  | (3,728 | ) |  | — |  |  | 12,445 |
(Loss) income before income taxes | (548,645 | ) |  | (195,118 | ) |  | 42,925 |  |  | 192,043 |  |  | (508,795 | )
Income tax expense | 5,244 |  |  | — |  |  | 440 |  |  | — |  |  | 5,684 |
Net (loss) income | (553,889 | ) |  | (195,118 | ) |  | 42,485 |  |  | 192,043 |  |  | (514,479 | )
Less: net income attributable to noncontrolling interest | — |  |  | — |  |  | — |  |  | 39,410 |  |  | 39,410 |
Net (loss) income attributable to SandRidge Energy, Inc. | $ | (553,889 | ) |  | $ | (195,118 | ) |  | $ | 42,485 |  |  | $ | 152,633 |  |  | $ | (553,889 | )
Condensed Consolidating Statements of Cash Flows
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In thousands)
Year Ended December 31, 2015 |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities | $ | (326,674 | ) |  | $ | 524,313 |  |  | $ | 124,626 |  |  | $ | 51,272 |  |  | $ | 373,537 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Capital expenditures for property, plant and equipment | — |  |  | (879,201 | ) |  | — |  |  | — |  |  | (879,201 | )
Acquisition of assets | — |  |  | (216,943 | ) |  | — |  |  | — |  |  | (216,943 | )
Other | — |  |  | 74,140 |  |  | 907 |  |  | (18,543 | ) |  | 56,504 |
Net cash (used in) provided by investing activities | — |  |  | (1,022,004 | ) |  | 907 |  |  | (18,543 | ) |  | (1,039,640 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings | 2,065,000 |  |  | — |  |  | — |  |  | — |  |  | 2,065,000 |
Repayments of borrowings | (939,466 | ) |  | — |  |  | — |  |  | — |  |  | (939,466 | )
Distributions to unitholders | — |  |  | — |  |  | (158,629 | ) |  | 20,324 |  |  | (138,305 | )
Intercompany (advances) borrowings, net | (475,618 | ) |  | 497,140 |  |  | (21,522 | ) |  | — |  |  | — |
Other | (66,793 | ) |  | — |  |  | 53,055 |  |  | (53,053 | ) |  | (66,791 | )
Net cash provided by (used in) financing activities | 583,123 |  |  | 497,140 |  |  | (127,096 | ) |  | (32,729 | ) |  | 920,438 |
Net increase (decrease) in cash and cash equivalents | 256,449 |  |  | (551 | ) |  | (1,563 | ) |  | — |  |  | 254,335 |
Cash and cash equivalents at beginning of year | 170,468 |  |  | 1,398 |  |  | 9,387 |  |  | — |  |  | 181,253 |
Cash and cash equivalents at end of year | $ | 426,917 |  |  | $ | 847 |  |  | $ | 7,824 |  |  | $ | — |  |  | $ | 435,588 |
| Parent(1) |  | Guarantors(1)(2) |  | Non-Guarantors |  | Eliminations(2) |  | Consolidated
| (In thousands)
Year Ended December 31, 2014 |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities | $ | (240,932 | ) |  | $ | 641,181 |  |  | $ | 212,427 |  |  | $ | 8,438 |  |  | $ | 621,114 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Capital expenditures for property, plant and equipment | — |  |  | (1,553,332 | ) |  | — |  |  | — |  |  | (1,553,332 | )
Proceeds from sale of assets | — |  |  | 711,728 |  |  | 2,747 |  |  | — |  |  | 714,475 |
Other | — |  |  | 28,256 |  |  | 1,140 |  |  | (47,780 | ) |  | (18,384 | )
Net cash (used in) provided by investing activities | — |  |  | (813,348 | ) |  | 3,887 |  |  | (47,780 | ) |  | (857,241 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Distributions to unitholders | — |  |  | — |  |  | (234,327 | ) |  | 40,520 |  |  | (193,807 | )
Repurchase of common stock | (111,827 | ) |  | — |  |  | — |  |  | — |  |  | (111,827 | )
Intercompany (advances) borrowings, net | (215,368 | ) |  | 215,373 |  |  | (5 | ) |  | — |  |  | — |
Other | (66,910 | ) |  | (42,821 | ) |  | 19,260 |  |  | (1,178 | ) |  | (91,649 | )
Net cash (used in) provided by financing activities | (394,105 | ) |  | 172,552 |  |  | (215,072 | ) |  | 39,342 |  |  | (397,283 | )
Net (decrease) increase in cash and cash equivalents | (635,037 | ) |  | 385 |  |  | 1,242 |  |  | — |  |  | (633,410 | )
Cash and cash equivalents at beginning of year | 805,505 |  |  | 1,013 |  |  | 8,145 |  |  | — |  |  | 814,663 |
Cash and cash equivalents at end of year | $ | 170,468 |  |  | $ | 1,398 |  |  | $ | 9,387 |  |  | $ | — |  |  | $ | 181,253 |
____________________
(1) | Net cash (used in) provided by operating activities for the Parent has decreased to correctly exclude $382.7 million in intercompany transactions, with a corresponding increase for Guarantors for this same line item. In addition, Intercompany (advances) borrowings, net for the Parent has increased to correctly include approximately $382.7 million of intercompany transactions, with a corresponding decrease for Guarantors for the same line item. The corrections did not result in any changes to consolidated net cash provided by operating activities or net cash used in financing activities.
(2) | Other investing activities for the Guarantor has increased to correctly exclude $193.8 million in noncontrolling interest distributions, with a corresponding decrease for Eliminations for this same line item. In addition, other financing activities for the Guarantor, has decreased to correctly exclude $193.8 million of noncontrolling interest distributions, with a corresponding increase for Eliminations for the same line item. The corrections did not result in any changes to consolidated net cash (used in) provided by investing activities or net cash used in financing activities.
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In thousands)
Year Ended December 31, 2013 |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities | $ | (239,026 | ) |  | $ | 852,026 |  |  | $ | 254,723 |  |  | $ | 907 |  |  | $ | 868,630 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Capital expenditures for property, plant and equipment | — |  |  | (1,496,731 | ) |  | — |  |  | — |  |  | (1,496,731 | )
Proceeds from sale of assets | — |  |  | 2,566,742 |  |  | 17,373 |  |  | — |  |  | 2,584,115 |
Other | — |  |  | 89,606 |  |  | 3,197 |  |  | (109,831 | ) |  | (17,028 | )
Net cash used in investing activities | — |  |  | 1,159,617 |  |  | 20,570 |  |  | (109,831 | ) |  | 1,070,356 |
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Repayments of borrowings | (1,115,500 | ) |  | — |  |  | — |  |  | — |  |  | (1,115,500 | )
Premium on debt redemption | (61,997 | ) |  | — |  |  | — |  |  | — |  |  | (61,997 | )
Distributions to unitholders | — |  |  | — |  |  | (299,675 | ) |  | 93,205 |  |  | (206,470 | )
Dividends paid—preferred | (55,525 | ) |  | — |  |  | — |  |  | — |  |  | (55,525 | )
Intercompany borrowings (advances) , net | 2,009,146 |  |  | (2,018,212 | ) |  | 9,066 |  |  | — |  |  | — |
Other | (31,821 | ) |  | 6,660 |  |  | 14,845 |  |  | 15,719 |  |  | 5,403 |
Net cash provided by (used in) financing activities | 744,303 |  |  | (2,011,552 | ) |  | (275,764 | ) |  | 108,924 |  |  | (1,434,089 | )
Net increase (decrease) in cash and cash equivalents | 505,277 |  |  | 91 |  |  | (471 | ) |  | — |  |  | 504,897 |
Cash and cash equivalents at beginning of year | 300,228 |  |  | 922 |  |  | 8,616 |  |  | — |  |  | 309,766 |
Cash and cash equivalents at end of year | $ | 805,505 |  |  | $ | 1,013 |  |  | $ | 8,145 |  |  | $ | — |  |  | $ | 814,663 |

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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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