v3.8.0.1
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)
3 Months Ended
Mar. 31, 2018
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS [Abstract]  
Condensed Consolidating Balance Sheets [Text Block]
Condensed Consolidating Balance Sheets
March 31, 2018
(Thousands of Dollars)
 
NuStar
Energy
 
NuStar
Logistics
 
NuPOP
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
858

 
$
26

 
$

 
$
14,244

 
$

 
$
15,128

Receivables, net

 
623

 

 
156,718

 

 
157,341

Inventories

 
1,844

 
11,039

 
16,666

 

 
29,549

Other current assets
139

 
13,905

 
3,538

 
8,397

 

 
25,979

Intercompany receivable

 
3,132,310

 

 

 
(3,132,310
)
 

Total current assets
997

 
3,148,708

 
14,577

 
196,025

 
(3,132,310
)
 
227,997

Property, plant and equipment, net

 
1,874,347

 
585,056

 
1,927,821

 

 
4,387,224

Intangible assets, net

 
56,174

 

 
715,449

 

 
771,623

Goodwill

 
149,453

 
170,652

 
774,556

 

 
1,094,661

Investment in wholly owned
subsidiaries
2,881,187

 
19,795

 
1,413,835

 
851,975

 
(5,166,792
)
 

Other long-term assets, net
303

 
70,343

 
27,204

 
7,358

 

 
105,208

Total assets
$
2,882,487

 
$
5,318,820

 
$
2,211,324

 
$
4,473,184

 
$
(8,299,102
)
 
$
6,586,713

Liabilities and Partners’ Equity
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
$
3,309

 
$
19,472

 
$
5,232

 
$
94,027

 
$

 
$
122,040

Short-term debt

 
70,000

 

 

 

 
70,000

Current portion of long-term debt

 
349,973

 

 

 

 
349,973

Accrued interest payable

 
43,921

 

 
53

 

 
43,974

Accrued liabilities
655

 
11,579

 
8,214

 
27,072

 

 
47,520

Taxes other than income tax
206

 
3,906

 
5,246

 
3,393

 

 
12,751

Income tax payable

 
902

 
4

 
5,472

 

 
6,378

Intercompany payable
322,257

 

 
1,326,659

 
1,483,394

 
(3,132,310
)
 

Total current liabilities
326,427

 
499,753

 
1,345,355

 
1,613,411

 
(3,132,310
)
 
652,636

Long-term debt, less current portion

 
3,248,763

 

 
57,330

 

 
3,306,093

Deferred income tax liability

 
1,262

 
12

 
21,758

 

 
23,032

Other long-term liabilities

 
43,854

 
14,191

 
54,850

 

 
112,895

Total partners’ equity
2,556,060

 
1,525,188

 
851,766

 
2,725,835

 
(5,166,792
)
 
2,492,057

Total liabilities and
partners’ equity
$
2,882,487

 
$
5,318,820

 
$
2,211,324

 
$
4,473,184

 
$
(8,299,102
)
 
$
6,586,713









Condensed Consolidating Balance Sheets
December 31, 2017
(Thousands of Dollars)
 
NuStar
Energy
 
NuStar
Logistics
 
NuPOP
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
885

 
$
29

 
$

 
$
23,378

 
$

 
$
24,292

Receivables, net

 
280

 

 
176,495

 

 
176,775

Inventories

 
1,686

 
8,611

 
16,560

 

 
26,857

Other current assets
61

 
11,412

 
4,191

 
6,844

 

 
22,508

Intercompany receivable

 
3,112,164

 

 

 
(3,112,164
)
 

Total current assets
946

 
3,125,571

 
12,802

 
223,277

 
(3,112,164
)
 
250,432

Property, plant and equipment, net

 
1,893,720

 
591,070

 
1,816,143

 

 
4,300,933

Intangible assets, net

 
58,530

 

 
725,949

 

 
784,479

Goodwill

 
149,453

 
170,652

 
777,370

 

 
1,097,475

Investment in wholly owned
subsidiaries
2,891,371

 
24,162

 
1,301,717

 
790,882

 
(5,008,132
)
 

Deferred income tax asset

 

 

 
233

 

 
233

Other long-term assets, net
303

 
65,684

 
27,493

 
8,201

 

 
101,681

Total assets
$
2,892,620

 
$
5,317,120

 
$
2,103,734

 
$
4,342,055

 
$
(8,120,296
)
 
$
6,535,233

Liabilities and Partners’ Equity
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
$
4,078

 
$
27,642

 
$
13,160

 
$
101,052

 
$

 
$
145,932

Short-term debt

 
35,000

 

 

 

 
35,000

Current portion of long-term debt

 
349,990

 

 

 

 
349,990

Accrued interest payable

 
40,402

 

 
47

 

 
40,449

Accrued liabilities
1,105

 
17,628

 
9,450

 
33,395

 

 
61,578

Taxes other than income tax
125

 
7,110

 
3,794

 
3,356

 

 
14,385

Income tax payable

 
732

 
4

 
3,436

 

 
4,172

Intercompany payable
322,296

 

 
1,277,691

 
1,512,177

 
(3,112,164
)
 

Total current liabilities
327,604

 
478,504

 
1,304,099

 
1,653,463

 
(3,112,164
)
 
651,506

Long-term debt, less current portion

 
3,201,220

 

 
61,849

 

 
3,263,069

Deferred income tax liability

 
1,262

 
12

 
20,998

 

 
22,272

Other long-term liabilities

 
58,806

 
8,861

 
50,630

 

 
118,297

Total partners’ equity
2,565,016

 
1,577,328

 
790,762

 
2,555,115

 
(5,008,132
)
 
2,480,089

Total liabilities and
partners’ equity
$
2,892,620

 
$
5,317,120

 
$
2,103,734

 
$
4,342,055

 
$
(8,120,296
)
 
$
6,535,233

Condensed Consolidating Statements of Comprehensive Income (Loss) [Table Text Block]
Condensed Consolidating Statements of Comprehensive Income
For the Three Months Ended March 31, 2018
(Thousands of Dollars)
 
NuStar
Energy
 
NuStar
Logistics
 
NuPOP
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Revenues
$

 
$
119,694

 
$
56,274

 
$
300,115

 
$
(202
)
 
$
475,881

Costs and expenses
612

 
72,416

 
35,181

 
269,394

 
(202
)
 
377,401

Operating (loss) income
(612
)
 
47,278

 
21,093

 
30,721

 

 
98,480

Equity in earnings (loss) of subsidiaries
126,713

 
(2,249
)
 
112,003

 
131,639

 
(368,106
)
 

Interest income (expense), net
32

 
(50,026
)
 
(1,571
)
 
3,793

 

 
(47,772
)
Other income, net

 
476

 
115

 
79,161

 

 
79,752

Income (loss) before income tax
expense
126,133

 
(4,521
)
 
131,640

 
245,314

 
(368,106
)
 
130,460

Income tax expense

 
170

 
1

 
4,156

 

 
4,327

Net income (loss)
$
126,133

 
$
(4,691
)
 
$
131,639

 
$
241,158

 
$
(368,106
)
 
$
126,133

 
 
 
 
 
 
 
 
 
 
 
 
Comprehensive income
$
126,133

 
$
14,120

 
$
131,639

 
$
243,271

 
$
(368,106
)
 
$
147,057


Condensed Consolidating Statements of Comprehensive Income
For the Three Months Ended March 31, 2017
(Thousands of Dollars)
 
NuStar
Energy
 
NuStar
Logistics
 
NuPOP
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Revenues
$

 
$
123,629

 
$
52,241

 
$
311,847

 
$
(287
)
 
$
487,430

Costs and expenses
509

 
76,322

 
29,806

 
283,941

 
(287
)
 
390,291

Operating (loss) income
(509
)
 
47,307

 
22,435

 
27,906

 

 
97,139

Equity in earnings of subsidiaries
58,445

 
1,110

 
26,215

 
47,353

 
(133,123
)
 

Interest income (expense), net
4

 
(36,914
)
 
(1,304
)
 
1,800

 

 
(36,414
)
Other income, net

 
21

 
6

 
113

 

 
140

Income before income tax
expense
57,940

 
11,524

 
47,352

 
77,172

 
(133,123
)
 
60,865

Income tax expense

 
331

 
1

 
2,593

 

 
2,925

Net income
$
57,940

 
$
11,193

 
$
47,351

 
$
74,579

 
$
(133,123
)
 
$
57,940

 
 
 
 
 
 
 
 
 
 
 
 
Comprehensive income
$
57,940

 
$
13,031

 
$
47,351

 
$
76,504

 
$
(133,123
)
 
$
61,703


 









 

 
Condensed Consolidating Statements of Cash Flows [Text Block]
Condensed Consolidating Statements of Cash Flows
For the Three Months Ended March 31, 2018
(Thousands of Dollars)
 
NuStar
Energy
 
NuStar
Logistics
 
NuPOP
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net cash provided by operating
     activities
$
130,847

 
$
16,855

 
$
25,112

 
$
148,287

 
$
(197,937
)
 
$
123,164

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures

 
(6,815
)
 
(2,440
)
 
(128,619
)
 

 
(137,874
)
Change in accounts payable
    related to capital expenditures

 
(1,946
)
 
(5,700
)
 
(4,372
)
 

 
(12,018
)
Proceeds from sale or disposition
of assets

 
6

 
4

 
9

 

 
19

Proceeds from insurance recoveries

 

 

 
78,419

 

 
78,419

Net cash used in investing activities

 
(8,755
)
 
(8,136
)
 
(54,563
)
 

 
(71,454
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
Debt borrowings

 
348,411

 

 
1,300

 

 
349,711

Debt repayments

 
(268,621
)
 

 
(5,800
)
 

 
(274,421
)
Distributions to preferred unitholders
(16,680
)
 
(8,341
)
 
(8,340
)
 
(8,340
)
 
25,021

 
(16,680
)
Distributions to common unitholders and general partner
(115,272
)
 
(57,636
)
 
(57,635
)
 
(57,645
)
 
172,916

 
(115,272
)
Net intercompany activity
2,053

 
(18,769
)
 
48,999

 
(32,283
)
 

 

Other, net
(975
)
 
(3,147
)
 

 
(62
)
 

 
(4,184
)
Net cash used in financing activities
(130,874
)
 
(8,103
)
 
(16,976
)
 
(102,830
)
 
197,937

 
(60,846
)
Effect of foreign exchange rate changes on cash

 

 

 
(28
)
 

 
(28
)
Net decrease in cash and cash equivalents
(27
)
 
(3
)
 

 
(9,134
)
 

 
(9,164
)
Cash and cash equivalents as of the
beginning of the period
885

 
29

 

 
23,378

 

 
24,292

Cash and cash equivalents as of the
end of the period
$
858

 
$
26

 
$

 
$
14,244

 
$

 
$
15,128

 













Condensed Consolidating Statements of Cash Flows
For the Three Months Ended March 31, 2017
(Thousands of Dollars)
 
NuStar
Energy
 
NuStar
Logistics
 
NuPOP
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net cash provided by operating
activities
$
103,517

 
$
35,964

 
$
23,855

 
$
78,004

 
$
(157,360
)
 
$
83,980

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures

 
(7,671
)
 
(1,761
)
 
(36,300
)
 

 
(45,732
)
Change in accounts payable
    related to capital expenditures

 
(4,908
)
 
(1,103
)
 
(809
)
 

 
(6,820
)
Proceeds from sale or disposition
of assets

 
1,833

 
6

 
20

 

 
1,859

Proceeds from Axeon term loan

 
110,000

 

 

 

 
110,000

Net cash provided by (used in) investing activities

 
99,254

 
(2,858
)
 
(37,089
)
 

 
59,307

Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
Debt borrowings

 
404,166

 

 
6,100

 

 
410,266

Debt repayments

 
(451,694
)
 

 
(3,500
)
 

 
(455,194
)
Distributions to preferred unitholders
(5,883
)
 
(2,941
)
 
(2,941
)
 
(2,942
)
 
8,824

 
(5,883
)
Distributions to common unitholders and general partner
(99,021
)
 
(49,511
)
 
(49,511
)
 
(49,514
)
 
148,536

 
(99,021
)
Net intercompany activity
3,196

 
(34,952
)
 
31,455

 
301

 

 

Other, net
(1,933
)
 
(285
)
 

 

 

 
(2,218
)
Net cash used in financing activities
(103,641
)
 
(135,217
)
 
(20,997
)
 
(49,555
)
 
157,360

 
(152,050
)
Effect of foreign exchange rate
changes on cash

 

 

 
26

 

 
26

Net (decrease) increase in cash and
cash equivalents
(124
)
 
1

 

 
(8,614
)
 

 
(8,737
)
Cash and cash equivalents as of the
beginning of the period
870

 
5

 

 
35,067

 

 
35,942

Cash and cash equivalents as of the
end of the period
$
746

 
$
6

 
$

 
$
26,453

 
$

 
$
27,205