v3.20.2
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)
 6 Months Ended
Jun. 30, 2020
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS [Abstract]  
Condensed Balance Sheet
Condensed Consolidating Balance Sheets
June 30, 2020
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Assets
Cash and cash equivalents
$264  $705  $—  $16,309  $—  $17,278  
Receivables, net—  80  —  127,195  (4,652) 122,623  
Inventories—  1,906  2,357  3,939  —  8,202  
Prepaid and other current assets105  25,864  1,411  3,226  —  30,606  
Intercompany receivable—  1,253,361  —  412,063  (1,665,424) —  
Total current assets369  1,281,916  3,768  562,732  (1,670,076) 178,709  
Property, plant and equipment, net—  2,027,712  600,471  1,462,469  —  4,090,652  
Intangible assets, net—  34,971  —  620,949  —  655,920  
Goodwill—  50,453  170,652  559,748  —  780,853  
Investment in wholly owned
subsidiaries
2,585,212  1,636,363  952,846  479,649  (5,654,070) —  
Other long-term assets, net101  68,365  31,960  29,638  —  130,064  
Total assets$2,585,682  $5,099,780  $1,759,697  $3,715,185  $(7,324,146) $5,836,198  
Liabilities, Mezzanine Equity and Partners’ Equity
Accounts payable$5,717  $20,220  $8,638  $42,882  $—  $77,457  
Short-term debt and current portion of finance leases
—  4,049  473  91  —  4,613  
Accrued interest payable—  37,728  6  14  —  37,748  
Accrued liabilities868  20,668  8,223  22,888  —  52,647  
Taxes other than income tax2  6,419  5,715  6,346  (4,652) 13,830  
Income tax payable—  361  1  1,713  —  2,075  
Intercompany payable422,781  —  1,242,643  —  (1,665,424) —  
Total current liabilities429,368  89,445  1,265,699  73,934  (1,670,076) 188,370  
Long-term debt, less current portion—  3,378,740  1,773  48,647  —  3,429,160  
Deferred income tax liability—  1,499  10  9,759  —  11,268  
Other long-term liabilities—  65,417  12,680  74,444  —  152,541  
Series D preferred units
591,895  —  —  —  —  591,895  
Total partners’ equity1,564,419  1,564,679  479,535  3,508,401  (5,654,070) 1,462,964  
Total liabilities, mezzanine equity and partners’ equity
$2,585,682  $5,099,780  $1,759,697  $3,715,185  $(7,324,146) $5,836,198  
Condensed Consolidating Balance Sheets
December 31, 2019
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
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 assets61  16,325  600  4,947  —  21,933  
Intercompany receivable—  1,276,839  —  610,298  (1,887,137) —  
Total current assets237  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, net98  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 liabilities1,425  40,514  8,461  53,885  —  104,285  
Taxes other than income tax125  7,311  5,160  185  —  12,781  
Income tax payable—  492  2  3,831  —  4,325  
Intercompany payable438,857  —  1,448,280  —  (1,887,137) —  
Total current liabilities445,834  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 units581,935  —  —  —  —  581,935  
Total partners’ equity1,844,106  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) $6,185,992  
Condensed Income Statement
Condensed Consolidating Statements of Comprehensive Income (Loss)
For the Three Months Ended June 30, 2020
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Revenues$—  $129,893  $61,563  $148,194  $(110) $339,540  
Costs and expenses599  79,536  40,392  126,422  (110) 246,839  
Operating (loss) income(599) 50,357  21,171  21,772  —  92,701  
Equity in earnings of subsidiaries
30,353  11,512  10,290  32,099  (84,254) —  
Interest income (expense), net12  (60,239) 445  283  —  (59,499) 
Other (expense) income, net—  (3,015) 193  1,196  —  (1,626) 
Income (loss) before income
tax expense
29,766  (1,385) 32,099  55,350  (84,254) 31,576  
Income tax expense—  232  1  1,577  —  1,810  
Net income (loss)$29,766  $(1,617) $32,098  $53,773  $(84,254) $29,766  
Comprehensive income (loss)$29,766  $(1,200) $32,098  $56,110  $(84,254) $32,520  

Condensed Consolidating Statements of Comprehensive Income
For the Three Months Ended June 30, 2019
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Revenues$—  $130,136  $64,452  $178,042  $(185) $372,445  
Costs and expenses699  83,029  41,235  154,384  (185) 279,162  
Operating (loss) income(699) 47,107  23,217  23,658  —  93,283  
Equity in earnings of subsidiaries
47,499  10,990  13,785  35,339  (107,613) —  
Interest income (expense), net117  (47,016) (1,840) 3,046  —  (45,693) 
Other income (expense), net—  743  178  (300) —  621  
Income from continuing
operations before income
tax expense (benefit)
46,917  11,824  35,340  61,743  (107,613) 48,211  
Income tax expense (benefit)2  (469) 1  1,762  —  1,296  
Income from continuing operations
46,915  12,293  35,339  59,981  (107,613) 46,915  
(Loss) income from discontinued 
operations, net of tax (a)
(964) 7,912  (8,877) (17,752) 18,717  (964) 
Net income$45,951  $20,205  $26,462  $42,229  $(88,896) $45,951  
Comprehensive income$45,951  $11,426  $26,462  $43,049  $(88,896) $37,992  
(a) Includes equity in earnings (loss) of subsidiaries related to discontinued operations.

 
Condensed Consolidating Statements of Comprehensive (Loss) Income
For the Six Months Ended June 30, 2020
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Revenues$—  $291,195  $124,227  $317,155  $(246) $732,331  
Costs and expenses1,327  263,707  78,171  389,730  (246) 732,689  
Operating (loss) income(1,327) 27,488  46,056  (72,575) —  (358) 
Equity in (loss) earnings of subsidiaries
(116,635) (106,703) 27,077  73,678  122,583  —  
Interest income (expense), net87  (108,309) 126  1,103  —  (106,993) 
Other (expense) income, net—  (2,156) 440  (6,399) —  (8,115) 
(Loss) income before income tax expense
(117,875) (189,680) 73,699  (4,193) 122,583  (115,466) 
Income tax expense—  361  1  2,047  —  2,409  
Net (loss) income(117,875) (190,041) 73,698  (6,240) 122,583  (117,875) 
Comprehensive (loss) income$(117,875) $(218,807) $73,698  $(11,033) $122,583  $(151,434) 

Condensed Consolidating Statements of Comprehensive (Loss) Income
For the Six Months Ended June 30, 2019
(Thousands of Dollars)

NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Revenues$—  $247,691  $122,805  $350,147  $(372) $720,271  
Costs and expenses1,375  160,440  77,285  314,655  (372) 553,383  
Operating (loss) income(1,375) 87,251  45,520  35,492  —  166,888  
Equity in earnings of subsidiaries
76,990  12,329  26,523  68,624  (184,466) —  
Interest income (expense), net225  (92,472) (3,773) 6,036  —  (89,984) 
Other income (expense), net—  1,497  355  (440) —  1,412  
Income from continuing operations before income tax expense (benefit)
75,840  8,605  68,625  109,712  (184,466) 78,316  
Income tax expense (benefit)2  (352) 1  2,827  —  2,478  
Income from continuing operations
75,838  8,957  68,624  106,885  (184,466) 75,838  
(Loss) income from discontinued 
operations, net of tax (a)
(307,750) 7,912  (315,663) (631,324) 939,075  (307,750) 
Net (loss) income$(231,912) $16,869  $(247,039) $(524,439) $754,609  $(231,912) 
Comprehensive (loss) income$(231,912) $2,360  $(247,039) $(522,715) $754,609  $(244,697) 
(a) Includes equity in earnings (loss) of subsidiaries related to discontinued operations.
Condensed Cash Flow Statement
Condensed Consolidating Statements of Cash Flows
For the Six Months Ended June 30, 2020
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Net cash provided by operating
activities
$167,758  $73,526  $297,417  $216,375  $(484,635) $270,441  
Cash flows from investing activities:
Capital expenditures—  (25,787) (5,596) (64,975) —  (96,358) 
Change in accounts payable related to capital expenditures
—  (12,492) (1,325) (1,692) —  (15,509) 
Proceeds from sale or disposition
of assets
—  335  117  5,335  —  5,787  
Net cash used in investing activities
—  (37,944) (6,804) (61,332) —  (106,080) 
Cash flows from financing activities:
Debt borrowings—  827,435  —  14,600  —  842,035  
Debt repayments—  (734,015) —  (28,200) —  (762,215) 
Distributions to preferred unitholders
(60,846) (30,424) (30,424) (30,424) 91,272  (60,846) 
Distributions to common unitholders
(108,846) (54,423) (54,423) (54,431) 163,277  (108,846) 
Payments for termination of
interest rate swaps
—  (49,225) —  —  —  (49,225) 
Distributions to affiliates
—  —  —  (230,086) 230,086  —  
Net intercompany activity12,059  18,680  (205,545) 174,806  —  —  
Payment of tax withholding for unit-based compensation
(8,820) —  —  —  —  (8,820) 
Other, net(1,217) (12,918) (221) (46) —  (14,402) 
Net cash used in financing activities
(167,670) (34,890) (290,613) (153,781) 484,635  (162,319) 
Effect of foreign exchange rate changes on cash
—  —  —  (945) —  (945) 
Net increase in cash, cash equivalents and restricted cash
88  692  —  317  —  1,097  
Cash, cash equivalents, and restricted cash as of the beginning of the period
176  8,812  —  15,992  —  24,980  
Cash, cash equivalents and restricted cash as of the end of the period
$264  $9,504  $—  $16,309  $—  $26,077  
Condensed Consolidating Statements of Cash Flows
For the Six Months Ended June 30, 2019
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Net cash provided by operating
activities
$187,265  $77,144  $60,539  $200,762  $(284,816) $240,894  
Cash flows from investing activities:
Capital expenditures—  (167,647) (9,131) (143,183) —  (319,961) 
Change in accounts payable related to capital expenditures
—  11,708  522  3,914  —  16,144  
Proceeds from sale or disposition
of assets
—  71  26  46  —  143  
Investment in subsidiaries—  (11,999) —  —  11,999  —  
Net cash used in investing activities
—  (167,867) (8,583) (139,223) 11,999  (303,674) 
Cash flows from financing activities:
Debt borrowings—  570,500  —  23,800  —  594,300  
Note offering, net of issuance costs
—  491,665  —  —  —  491,665  
Debt repayments
—  (785,000) —  (22,800) —  (807,800) 
Distributions to preferred unitholders
(60,846) (30,424) (30,423) (30,425) 91,272  (60,846) 
Distributions to common unitholders
(129,025) (64,512) (64,512) (64,520) 193,544  (129,025) 
Contributions from affiliates—  —  —  11,999  (11,999) —  
Net intercompany activity9,641  (75,900) 43,009  23,250  —  —  
Payment of tax withholding for unit-based compensation
(6,368) —  —  —  —  (6,368) 
Other, net(1,436) (6,581) (30) (122) —  (8,169) 
Net cash (used in) provided by financing activities
(188,034) 99,748  (51,956) (58,818) 272,817  73,757  
Effect of foreign exchange rate
changes on cash
—  —  —  261  —  261  
Net (decrease) increase in cash, cash equivalents and restricted cash
(769) 9,025  —  2,982  —  11,238  
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
$486  $9,076  $—  $15,320  $—  $24,882