CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| CONDENSED CONSOLIDATING FINANCIAL STATEMENTS [Abstract] |
|
| Condensed Consolidating Balance Sheets [Table Text Block] |
Condensed Consolidating Balance Sheets December 31, 2019 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Assets | | | | | | | | | | | | Cash and cash equivalents | $ | 176 |
| | $ | 24 |
| | $ | — |
| | $ | 15,992 |
| | $ | — |
| | $ | 16,192 |
| Receivables, net | — |
| | 317 |
| | 4 |
| | 152,209 |
| | — |
| | 152,530 |
| Inventories | — |
| | 1,953 |
| | 4,821 |
| | 5,619 |
| | — |
| | 12,393 |
| Prepaid and other current assets | 61 |
| | 16,325 |
| | 600 |
| | 4,947 |
| | — |
| | 21,933 |
| Intercompany receivable | — |
| | 1,276,839 |
| | — |
| | 610,298 |
| | (1,887,137 | ) | | — |
| Total current assets | 237 |
| | 1,295,458 |
| | 5,425 |
| | 789,065 |
| | (1,887,137 | ) | | 203,048 |
| Property, plant and equipment, net | — |
| | 2,058,530 |
| | 612,128 |
| | 1,448,321 |
| | — |
| | 4,118,979 |
| Intangible assets, net | — |
| | 39,683 |
| | — |
| | 641,949 |
| | — |
| | 681,632 |
| Goodwill | — |
| | 149,453 |
| | 170,652 |
| | 685,748 |
| | — |
| | 1,005,853 |
| Investment in wholly owned subsidiaries | 2,871,540 |
| | 1,743,066 |
| | 1,155,855 |
| | 490,826 |
| | (6,261,287 | ) | | — |
| Other long-term assets, net | 98 |
| | 111,362 |
| | 32,121 |
| | 32,899 |
| | — |
| | 176,480 |
| Total assets | $ | 2,871,875 |
| | $ | 5,397,552 |
| | $ | 1,976,181 |
| | $ | 4,088,808 |
| | $ | (8,148,424 | ) | | $ | 6,185,992 |
| Liabilities, Mezzanine Equity and Partners’ Equity | | | | | | | | | | | | Accounts payable | $ | 5,427 |
| | $ | 42,064 |
| | $ | 8,379 |
| | $ | 53,964 |
| | $ | — |
| | $ | 109,834 |
| Short-term debt and current portion of finance leases | — |
| | 9,722 |
| | 299 |
| | 25 |
| | — |
| | 10,046 |
| Current portion of long-term debt | — |
| | 452,367 |
| | — |
| | — |
| | — |
| | 452,367 |
| Accrued interest payable | — |
| | 37,888 |
| | 4 |
| | 33 |
| | — |
| | 37,925 |
| Accrued liabilities | 1,425 |
| | 40,514 |
| | 8,461 |
| | 53,885 |
| | — |
| | 104,285 |
| Taxes other than income tax | 125 |
| | 7,311 |
| | 5,160 |
| | 185 |
| | — |
| | 12,781 |
| Income tax payable | — |
| | 492 |
| | 2 |
| | 3,831 |
| | — |
| | 4,325 |
| Intercompany payable | 438,857 |
| | — |
| | 1,448,280 |
| | — |
| | (1,887,137 | ) | | — |
| Total current liabilities | 445,834 |
| | 590,358 |
| | 1,470,585 |
| | 111,923 |
| | (1,887,137 | ) | | 731,563 |
| Long-term debt, less current portion | — |
| | 2,871,786 |
| | 1,127 |
| | 62,005 |
| | — |
| | 2,934,918 |
| Deferred income tax liability | — |
| | 1,499 |
| | 10 |
| | 10,918 |
| | — |
| | 12,427 |
| Other long-term liabilities | — |
| | 65,577 |
| | 13,774 |
| | 69,588 |
| | — |
| | 148,939 |
| Series D preferred units | 581,935 |
| | — |
| | — |
| | — |
| | — |
| | 581,935 |
| Total partners’ equity | 1,844,106 |
| | 1,868,332 |
| | 490,685 |
| | 3,834,374 |
| | (6,261,287 | ) | | 1,776,210 |
| Total liabilities, mezzanine equity and partners’ equity | $ | 2,871,875 |
| | $ | 5,397,552 |
| | $ | 1,976,181 |
| | $ | 4,088,808 |
| | $ | (8,148,424 | ) | | $ | 6,185,992 |
|
Condensed Consolidating Balance Sheets December 31, 2018 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Assets | | | | | | | | | | | | Cash and cash equivalents | $ | 1,255 |
| | $ | 51 |
| | $ | — |
| | $ | 10,223 |
| | $ | — |
| | $ | 11,529 |
| Receivables, net | — |
| | 2,212 |
| | — |
| | 108,205 |
| | — |
| | 110,417 |
| Inventories | — |
| | 1,741 |
| | 5,237 |
| | 1,456 |
| | — |
| | 8,434 |
| Prepaid and other current assets | 61 |
| | 14,422 |
| | 908 |
| | 1,983 |
| | — |
| | 17,374 |
| Assets held for sale | — |
| | — |
| | — |
| | 599,347 |
| | — |
| | 599,347 |
| Intercompany receivable | — |
| | 1,327,833 |
| | — |
| | 500,583 |
| | (1,828,416 | ) | | — |
| Total current assets | 1,316 |
| | 1,346,259 |
| | 6,145 |
| | 1,221,797 |
| | (1,828,416 | ) | | 747,101 |
| Property, plant and equipment, net | — |
| | 1,858,264 |
| | 615,549 |
| | 1,300,989 |
| | — |
| | 3,774,802 |
| Intangible assets, net | — |
| | 49,107 |
| | — |
| | 683,949 |
| | — |
| | 733,056 |
| Goodwill | — |
| | 149,453 |
| | 170,652 |
| | 685,748 |
| | — |
| | 1,005,853 |
| Investment in wholly owned subsidiaries | 3,355,636 |
| | 1,750,256 |
| | 1,425,283 |
| | 857,485 |
| | (7,388,660 | ) | | — |
| Other long-term assets, net | 304 |
| | 54,429 |
| | 26,716 |
| | 6,879 |
| | — |
| | 88,328 |
| Total assets | $ | 3,357,256 |
| | $ | 5,207,768 |
| | $ | 2,244,345 |
| | $ | 4,756,847 |
| | $ | (9,217,076 | ) | | $ | 6,349,140 |
| Liabilities, Mezzanine Equity and Partners’ Equity | | | | | | | | | | | | Accounts payable | $ | 6,460 |
| | $ | 39,680 |
| | $ | 6,331 |
| | $ | 50,651 |
| | $ | — |
| | $ | 103,122 |
| Short-term debt | — |
| | 18,500 |
| | — |
| | — |
| | — |
| | 18,500 |
| Accrued interest payable | — |
| | 36,253 |
| | — |
| | 40 |
| | — |
| | 36,293 |
| Accrued liabilities | 1,280 |
| | 24,858 |
| | 8,082 |
| | 40,198 |
| | — |
| | 74,418 |
| Taxes other than income tax | 125 |
| | 7,285 |
| | 4,718 |
| | 4,695 |
| | — |
| | 16,823 |
| Income tax payable | — |
| | 457 |
| | 2 |
| | 3,986 |
| | — |
| | 4,445 |
| Liabilities held for sale | — |
| | — |
| | — |
| | 69,834 |
| | — |
| | 69,834 |
| Intercompany payable | 472,790 |
| | — |
| | 1,355,626 |
| | — |
| | (1,828,416 | ) | | — |
| Total current liabilities | 480,655 |
| | 127,033 |
| | 1,374,759 |
| | 169,404 |
| | (1,828,416 | ) | | 323,435 |
| Long-term debt | — |
| | 3,050,531 |
| | — |
| | 61,465 |
| | — |
| | 3,111,996 |
| Deferred income tax liability | — |
| | 1,675 |
| | 9 |
| | 10,744 |
| | — |
| | 12,428 |
| Other long-term liabilities | — |
| | 28,392 |
| | 12,348 |
| | 38,818 |
| | — |
| | 79,558 |
| Series D preferred units | 563,992 |
| | — |
| | — |
| | — |
| | — |
| | 563,992 |
| Total partners’ equity | 2,312,609 |
| | 2,000,137 |
| | 857,229 |
| | 4,476,416 |
| | (7,388,660 | ) | | 2,257,731 |
| Total liabilities, mezzanine equity and partners’ equity | $ | 3,357,256 |
| | $ | 5,207,768 |
| | $ | 2,244,345 |
| | $ | 4,756,847 |
| | $ | (9,217,076 | ) | | $ | 6,349,140 |
|
|
| Condensed Consolidating Statements of Income (Loss) [Table Text Block] |
Condensed Consolidating Statements of (Loss) Income For the Year Ended December 31, 2019 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Revenues | $ | — |
| | $ | 545,863 |
| | $ | 258,420 |
| | $ | 694,485 |
| | $ | (747 | ) | | $ | 1,498,021 |
| Costs and expenses | 2,574 |
| | 338,291 |
| | 159,376 |
| | 607,611 |
| | (747 | ) | | 1,107,105 |
| Operating (loss) income | (2,574 | ) | | 207,572 |
| | 99,044 |
| | 86,874 |
| | — |
| | 390,916 |
| Equity in earnings of subsidiaries | 208,995 |
| | 42,139 |
| | 51,537 |
| | 144,366 |
| | (447,037 | ) | | — |
| Interest income (expense), net | 415 |
| | (187,337 | ) | | (6,961 | ) | | 10,813 |
| | — |
| | (183,070 | ) | Other income (expense), net | — |
| | 3,002 |
| | 744 |
| | (4 | ) | | — |
| | 3,742 |
| Income from continuing operations before income tax expense (benefit) | 206,836 |
| | 65,376 |
| | 144,364 |
| | 242,049 |
| | (447,037 | ) | | 211,588 |
| Income tax expense (benefit) | 2 |
| | (230 | ) | | 3 |
| | 4,979 |
| | — |
| | 4,754 |
| Income from continuing operations, net of tax | 206,834 |
| | 65,606 |
| | 144,361 |
| | 237,070 |
| | (447,037 | ) | | 206,834 |
| (Loss) income from discontinued operations, net of tax (a) | (312,527 | ) | | 7,912 |
| | (320,439 | ) | | (640,877 | ) | | 953,404 |
| | (312,527 | ) | Net (loss) income | $ | (105,693 | ) | | $ | 73,518 |
| | $ | (176,078 | ) | | $ | (403,807 | ) | | $ | 506,367 |
| | $ | (105,693 | ) |
(a) Includes equity in earnings (loss) of subsidiaries related to discontinued operations.
Condensed Consolidating Statements of Income (Loss) For the Year Ended December 31, 2018 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Revenues | $ | — |
| | $ | 485,603 |
| | $ | 260,679 |
| | $ | 774,685 |
| | $ | (705 | ) | | $ | 1,520,262 |
| Costs and expenses | 2,407 |
| | 317,286 |
| | 163,667 |
| | 701,879 |
| | (705 | ) | | 1,184,534 |
| Operating (loss) income | (2,407 | ) | | 168,317 |
| | 97,012 |
| | 72,806 |
| | — |
| | 335,728 |
| Equity in earnings of subsidiaries | 148,554 |
| | 17,167 |
| | 62,494 |
| | 152,830 |
| | (381,045 | ) | | — |
| Interest income (expense), net | 228 |
| | (191,835 | ) | | (7,127 | ) | | 14,336 |
| | — |
| | (184,398 | ) | Other income, net | — |
| | 3,876 |
| | 446 |
| | 880 |
| | — |
| | 5,202 |
| Income (loss) from continuing operations before income tax expense (benefit) | 146,375 |
| | (2,475 | ) | | 152,825 |
| | 240,852 |
| | (381,045 | ) | | 156,532 |
| Income tax expense (benefit) | — |
| | 588 |
| | (3 | ) | | 9,572 |
| | — |
| | 10,157 |
| Income (loss) from continuing operations, net of tax | 146,375 |
| | (3,063 | ) | | 152,828 |
| | 231,280 |
| | (381,045 | ) | | 146,375 |
| Income from discontinued operations, net of tax (a) | 59,419 |
| | — |
| | 59,419 |
| | 118,838 |
| | (178,257 | ) | | 59,419 |
| Net income (loss) | $ | 205,794 |
| | $ | (3,063 | ) | | $ | 212,247 |
| | $ | 350,118 |
| | $ | (559,302 | ) | | $ | 205,794 |
|
(a) Includes equity in earnings (loss) of subsidiaries related to discontinued operations.
Condensed Consolidating Statements of Income (Loss) For the Year Ended December 31, 2017 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Revenues | $ | — |
| | $ | 496,454 |
| | $ | 221,125 |
| | $ | 728,211 |
| | $ | (1,018 | ) | | $ | 1,444,772 |
| Costs and expenses | 1,868 |
| | 317,871 |
| | 146,243 |
| | 689,298 |
| | (1,018 | ) | | 1,154,262 |
| Operating (loss) income | (1,868 | ) | | 178,583 |
| | 74,882 |
| | 38,913 |
| | — |
| | 290,510 |
| Equity in earnings (loss) of subsidiaries | 112,706 |
| | (10,616 | ) | | 52,336 |
| | 121,631 |
| | (276,057 | ) | | — |
| Interest income (expense), net | 57 |
| | (176,897 | ) | | (5,587 | ) | | 10,653 |
| | — |
| | (171,774 | ) | Other income (expense), net | — |
| | 145 |
| | 3 |
| | (216 | ) | | — |
| | (68 | ) | Income (loss) from continuing operations before income tax (benefit) expense | 110,895 |
| | (8,785 | ) | | 121,634 |
| | 170,981 |
| | (276,057 | ) | | 118,668 |
| Income tax (benefit) expense | — |
| | (820 | ) | | 2 |
| | 8,591 |
| | — |
| | 7,773 |
| Income (loss) from continuing operations, net of tax | 110,895 |
| | (7,965 | ) | | 121,632 |
| | 162,390 |
| | (276,057 | ) | | 110,895 |
| Income from discontinued operations, net of tax (a) | 37,069 |
| | — |
| | 37,069 |
| | 74,138 |
| | (111,207 | ) | | 37,069 |
| Net income (loss) | $ | 147,964 |
| | $ | (7,965 | ) | | $ | 158,701 |
| | $ | 236,528 |
| | $ | (387,264 | ) | | $ | 147,964 |
|
(a) Includes equity in earnings (loss) of subsidiaries related to discontinued operations.
|
| Condensed Consolidating Statements of Comprehensive Income (Loss) [Table Text Block] |
Condensed Consolidating Statements of Comprehensive (Loss) Income For the Year Ended December 31, 2019 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net (loss) income | $ | (105,693 | ) | | $ | 73,518 |
| | $ | (176,078 | ) | | $ | (403,807 | ) | | $ | 506,367 |
| | $ | (105,693 | ) | | | | | | | | | | | | | Other comprehensive income (loss): | | | | | | | | | | | | Foreign currency translation adjustment | — |
| | — |
| | — |
| | 3,527 |
| | — |
| | 3,527 |
| Net loss on pension and other postretirement benefit adjustments, net of tax benefit | — |
| | — |
| | — |
| | (1,314 | ) | | — |
| | (1,314 | ) | Net loss on cash flow hedges | — |
| | (15,231 | ) | | — |
| | — |
| | — |
| | (15,231 | ) | Total other comprehensive (loss) income | — |
| | (15,231 | ) | | — |
| | 2,213 |
| | — |
| | (13,018 | ) | Comprehensive (loss) income | $ | (105,693 | ) | | $ | 58,287 |
| | $ | (176,078 | ) | | $ | (401,594 | ) | | $ | 506,367 |
| | $ | (118,711 | ) |
Condensed Consolidating Statements of Comprehensive Income For the Year Ended December 31, 2018 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net income (loss) | $ | 205,794 |
| | $ | (3,063 | ) | | $ | 212,247 |
| | $ | 350,118 |
| | $ | (559,302 | ) | | $ | 205,794 |
| | | | | | | | | | | | | Other comprehensive income: | | | | | | | | | | | | Foreign currency translation adjustment | — |
| | — |
| | — |
| | 4,304 |
| | — |
| | 4,304 |
| Net gain on pension and other postretirement benefit adjustments, net of tax expense | — |
| | — |
| | — |
| | 2,334 |
| | — |
| | 2,334 |
| Net gain on cash flow hedges | — |
| | 23,411 |
| | — |
| | — |
| | — |
| | 23,411 |
| Total other comprehensive income | — |
| | 23,411 |
| | — |
| | 6,638 |
| | — |
| | 30,049 |
| Comprehensive income | $ | 205,794 |
| | $ | 20,348 |
| | $ | 212,247 |
| | $ | 356,756 |
| | $ | (559,302 | ) | | $ | 235,843 |
|
Condensed Consolidating Statements of Comprehensive Income (Loss) For the Year Ended December 31, 2017 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net income (loss) | $ | 147,964 |
| | $ | (7,965 | ) | | $ | 158,701 |
| | $ | 236,528 |
| | $ | (387,264 | ) | | $ | 147,964 |
| | | | | | | | | | | | | Other comprehensive income (loss): | | | | | | | | | | | | Foreign currency translation adjustment | — |
| | — |
| | — |
| | 17,466 |
| | — |
| | 17,466 |
| Net loss on pension and other postretirement benefit adjustments, net of tax benefit | — |
| | — |
| | — |
| | (6,170 | ) | | — |
| | (6,170 | ) | Net loss on cash flow hedges | — |
| | (2,046 | ) | | — |
| | — |
| | — |
| | (2,046 | ) | Total other comprehensive (loss) income | — |
| | (2,046 | ) | | — |
| | 11,296 |
| | — |
| | 9,250 |
| Comprehensive income (loss) | $ | 147,964 |
| | $ | (10,011 | ) | | $ | 158,701 |
| | $ | 247,824 |
| | $ | (387,264 | ) | | $ | 157,214 |
|
|
| Condensed Consolidating Statements of Cash Flows [Table Text Block] |
Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2019 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net cash provided by operating activities | $ | 376,999 |
| | $ | 166,005 |
| | $ | 126,728 |
| | $ | 409,115 |
| | $ | (570,090 | ) | | $ | 508,757 |
| Cash flows from investing activities: | | | | | | | | | | | | Capital expenditures | — |
| | (257,117 | ) | | (28,592 | ) | | (247,859 | ) | | — |
| | (533,568 | ) | Change in accounts payable related to capital expenditures | — |
| | 1,369 |
| | 1,212 |
| | (15,312 | ) | | — |
| | (12,731 | ) | Proceeds from sale or disposition of assets | — |
| | 247 |
| | 90 |
| | 227,815 |
| | — |
| | 228,152 |
| Investment in subsidiaries | — |
| | (11,999 | ) | | — |
| | — |
| | 11,999 |
| | — |
| Other, net | — |
| | — |
| | — |
| | (1,100 | ) | | — |
| | (1,100 | ) | Net cash used in investing activities | — |
| | (267,500 | ) | | (27,290 | ) | | (36,456 | ) | | 11,999 |
| | (319,247 | ) | Cash flows from financing activities: | | | | | | | | | | | | Debt borrowings | — |
| | 1,415,580 |
| | — |
| | 42,800 |
| | — |
| | 1,458,380 |
| Debt repayments | — |
| | (1,207,000 | ) | | — |
| | (42,400 | ) | | — |
| | (1,249,400 | ) | Issuance of common units, net of issuance costs | 15,000 |
| | — |
| | — |
| | — |
| | — |
| | 15,000 |
| Distributions to preferred unitholders | (121,693 | ) | | (60,846 | ) | | (60,847 | ) | | (60,853 | ) | | 182,546 |
| | (121,693 | ) | Distributions to common unitholders | (258,354 | ) | | (129,177 | ) | | (129,177 | ) | | (129,190 | ) | | 387,544 |
| | (258,354 | ) | Contributions from affiliates | — |
| | — |
| | — |
| | 11,999 |
| | (11,999 | ) | | — |
| Net intercompany activity | (2,010 | ) | | 101,980 |
| | 90,734 |
| | (190,704 | ) | | — |
| | — |
| Other, net | (11,021 | ) | | (10,281 | ) | | (148 | ) | | (133 | ) | | — |
| | (21,583 | ) | Net cash (used in) provided by financing activities | (378,078 | ) | | 110,256 |
| | (99,438 | ) | | (368,481 | ) | | 558,091 |
| | (177,650 | ) | Effect of foreign exchange rate changes on cash | — |
| | — |
| | — |
| | (524 | ) | | — |
| | (524 | ) | Net (decrease) increase in cash, cash equivalents and restricted cash | (1,079 | ) | | 8,761 |
| | — |
| | 3,654 |
| | — |
| | 11,336 |
| Cash, cash equivalents and restricted cash as of the beginning of the period | 1,255 |
| | 51 |
| | — |
| | 12,338 |
| | — |
| | 13,644 |
| Cash, cash equivalents and restricted cash as of the end of the period | $ | 176 |
| | $ | 8,812 |
| | $ | — |
| | $ | 15,992 |
| | $ | — |
| | $ | 24,980 |
|
Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2018 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net cash provided by operating activities | $ | 444,233 |
| | $ | 100,385 |
| | $ | 179,512 |
| | $ | 514,936 |
| | $ | (694,859 | ) | | $ | 544,207 |
| Cash flows from investing activities: | | | | | | | | | | | | Capital expenditures | — |
| | (71,044 | ) | | (19,152 | ) | | (367,256 | ) | | — |
| | (457,452 | ) | Change in accounts payable related to capital expenditures | — |
| | 11,101 |
| | (5,161 | ) | | (13,623 | ) | | — |
| | (7,683 | ) | Acquisitions | — |
| | — |
| | (37,502 | ) | | — |
| | — |
| | (37,502 | ) | Proceeds from insurance recoveries | — |
| | — |
| | — |
| | 78,419 |
| | — |
| | 78,419 |
| Proceeds from sale or disposition of assets | — |
| | 2,674 |
| | 31 |
| | 267,735 |
| | — |
| | 270,440 |
| Investment in subsidiaries | (708,600 | ) | | (1,711,975 | ) | | (54,600 | ) | | (54,665 | ) | | 2,529,840 |
| | — |
| Net cash used in investing activities | (708,600 | ) | | (1,769,244 | ) | | (116,384 | ) | | (89,390 | ) | | 2,529,840 |
| | (153,778 | ) | Cash flows from financing activities: | | | | | | | | | | | | Debt borrowings | — |
| | 1,840,853 |
| | — |
| | 31,800 |
| | — |
| | 1,872,653 |
| Debt repayments | — |
| | (2,349,476 | ) | | — |
| | (32,300 | ) | | — |
| | (2,381,776 | ) | Issuance of Series D preferred units | 590,000 |
| | — |
| | — |
| | — |
| | — |
| | 590,000 |
| Payment of issuance costs for
Series D preferred units | (34,203 | ) | | — |
| | — |
| | — |
| | — |
| | (34,203 | ) | Issuance of common units, net of
issuance costs | 10,000 |
| | — |
| | — |
| | — |
| | — |
| | 10,000 |
| General partner contribution | 204 |
| | — |
| | — |
| | — |
| | — |
| | 204 |
| Distributions to preferred unitholders | (90,670 | ) | | (45,336 | ) | | (45,336 | ) | | (45,335 | ) | | 136,007 |
| | (90,670 | ) | Distributions to common unitholders and general partner | (300,777 | ) | | (150,388 | ) | | (150,388 | ) | | (150,408 | ) | | 451,184 |
| | (300,777 | ) | Cash consideration for Merger
(Note 4) | (67,936 | ) | | — |
| | — |
| | 141 |
| | — |
| | (67,795 | ) | Proceeds from termination of interest rate swaps | — |
| | 8,048 |
| | — |
| | — |
| | — |
| | 8,048 |
| Contributions from affiliates | — |
| | 599,400 |
| | 54,600 |
| | 1,768,172 |
| | (2,422,172 | ) | | — |
| Net intercompany activity | 162,498 |
| | 1,766,881 |
| | 77,996 |
| | (2,007,375 | ) | | — |
| | — |
| Other, net | (4,379 | ) | | (1,101 | ) | | — |
| | (71 | ) | | — |
| | (5,551 | ) | Net cash provided by (used in) financing activities | 264,737 |
| | 1,668,881 |
| | (63,128 | ) | | (435,376 | ) | | (1,834,981 | ) | | (399,867 | ) | Effect of foreign exchange rate changes on cash | — |
| | — |
| | — |
| | (1,210 | ) | | — |
| | (1,210 | ) | Net increase (decrease) in cash and cash equivalents | 370 |
| | 22 |
| | — |
| | (11,040 | ) | | — |
| | (10,648 | ) | 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 | $ | 1,255 |
| | $ | 51 |
| | $ | — |
| | $ | 12,338 |
| | $ | — |
| | $ | 13,644 |
|
Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2017 (Thousands of Dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | NuStar Energy | | NuStar Logistics | | NuPOP | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net cash provided by operating activities | $ | 483,481 |
| | $ | 152,101 |
| | $ | 102,405 |
| | $ | 405,950 |
| | $ | (737,138 | ) | | $ | 406,799 |
| Cash flows from investing activities: | | | | | | | | | | | | Capital expenditures | — |
| | (47,600 | ) | | (35,041 | ) | | (301,997 | ) | | — |
| | (384,638 | ) | Change in accounts payable related to capital expenditures | — |
| | (1,988 | ) | | 5,964 |
| | 32,927 |
| | — |
| | 36,903 |
| Acquisitions | — |
| | — |
| | — |
| | (1,461,719 | ) | | — |
| | (1,461,719 | ) | Proceeds from Axeon term loan | — |
| | 110,000 |
| | — |
| | — |
| | — |
| | 110,000 |
| Proceeds from insurance recoveries | — |
| | — |
| | — |
| | 977 |
| | — |
| | 977 |
| Proceeds from sale or disposition of assets | — |
| | 1,955 |
| | 18 |
| | 63 |
| | — |
| | 2,036 |
| Investment in subsidiaries | (1,262,000 | ) | | — |
| | — |
| | (126 | ) | | 1,262,126 |
| | — |
| Net cash (used in) provided by investing activities | (1,262,000 | ) | | 62,367 |
| | (29,059 | ) | | (1,729,875 | ) | | 1,262,126 |
| | (1,696,441 | ) | Cash flows from financing activities: | | | | | | | | | | | | Debt borrowings | — |
| | 2,969,400 |
| | — |
| | 90,700 |
| | — |
| | 3,060,100 |
| Debt repayments | — |
| | (2,400,739 | ) | | — |
| | (86,800 | ) | | — |
| | (2,487,539 | ) | Issuance of preferred units, net of
issuance costs | 538,560 |
| | — |
| | — |
| | — |
| | — |
| | 538,560 |
| Issuance of common units, net of
issuance costs | 643,878 |
| | — |
| | — |
| | — |
| | — |
| | 643,878 |
| General partner contribution | 13,737 |
| | — |
| | — |
| | — |
| | — |
| | 13,737 |
| Distributions to preferred unitholders | (38,833 | ) | | (19,417 | ) | | (19,416 | ) | | (19,418 | ) | | 58,251 |
| | (38,833 | ) | Distributions to common unitholders and general partner | (446,306 | ) | | (223,153 | ) | | (223,153 | ) | | (223,176 | ) | | 669,482 |
| | (446,306 | ) | Contributions from
(distributions to) affiliates | — |
| | 1,262,000 |
| | — |
| | (9,279 | ) | | (1,252,721 | ) | | — |
| Net intercompany activity | 73,206 |
| | (1,801,218 | ) | | 169,223 |
| | 1,558,789 |
| | — |
| | — |
| Other, net | (5,708 | ) | | (1,317 | ) | | — |
| | (300 | ) | | — |
| | (7,325 | ) | Net cash provided by (used in) financing activities | 778,534 |
| | (214,444 | ) | | (73,346 | ) | | 1,310,516 |
| | (524,988 | ) | | 1,276,272 |
| Effect of foreign exchange rate changes on cash | — |
| | — |
| | — |
| | 1,720 |
| | — |
| | 1,720 |
| Net increase (decrease) in cash and cash equivalents | 15 |
| | 24 |
| | — |
| | (11,689 | ) | | — |
| | (11,650 | ) | 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 | $ | 885 |
| | $ | 29 |
| | $ | — |
| | $ | 23,378 |
| | $ | — |
| | $ | 24,292 |
|
|