v3.20.2
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)
 9 Months Ended
Sep. 30, 2020
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS [Abstract]  
Condensed Balance Sheet
Condensed Consolidating Balance Sheets
September 30, 2020
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Assets
Cash and cash equivalents
$278 $35,503 $— $19,713 $— $55,494 
Receivables, net— 77 — 121,509 (4,853)116,733 
Inventories— 2,013 3,625 4,379 — 10,017 
Prepaid and other current assets136 25,258 1,042 6,880 — 33,316 
Intercompany receivable— 1,219,683 — 461,420 (1,681,103)— 
Total current assets414 1,282,534 4,667 613,901 (1,685,956)215,560 
Property, plant and equipment, net— 2,013,927 594,592 1,464,991 — 4,073,510 
Intangible assets, net— 32,616 — 610,448 — 643,064 
Goodwill— 50,453 170,652 559,748 — 780,853 
Investment in wholly owned
subsidiaries
2,413,335 1,658,489 967,664 474,562 (5,514,050)— 
Other long-term assets, net51 66,316 31,602 51,350 — 149,319 
Total assets$2,413,800 $5,104,335 $1,769,177 $3,775,000 $(7,200,006)$5,862,306 
Liabilities, Mezzanine Equity and Partners’ Equity
Accounts payable$5,687 $21,286 $7,545 $34,356 $— $68,874 
Short-term debt and current portion of finance leases
— 3,584 502 102 — 4,188 
Accrued interest payable— 44,721 6 26 — 44,753 
Accrued liabilities916 28,663 5,424 33,698 — 68,701 
Taxes other than income tax63 8,142 6,667 8,116 (4,853)18,135 
Intercompany payable420,633 — 1,260,470 — (1,681,103)— 
Total current liabilities427,299 106,396 1,280,614 76,298 (1,685,956)204,651 
Long-term debt, less current portion— 3,535,872 1,723 60,229 — 3,597,824 
Deferred income tax liability— 1,511 9 10,493 — 12,013 
Other long-term liabilities— 61,219 12,264 86,625 — 160,108 
Series D preferred units
595,649 — — — — 595,649 
Total partners’ equity1,390,852 1,399,337 474,567 3,541,355 (5,514,050)1,292,061 
Total liabilities, mezzanine equity and partners’ equity
$2,413,800 $5,104,335 $1,769,177 $3,775,000 $(7,200,006)$5,862,306 
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 41,006 8,463 57,716 — 108,610 
Taxes other than income tax125 7,311 5,160 185 — 12,781 
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)$6,185,992 
Condensed Income Statement
Condensed Consolidating Statements of Comprehensive (Loss) Income
For the Three Months Ended September 30, 2020
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Revenues$— $136,963 $58,058 $167,674 $(104)$362,591 
Costs and expenses343 84,783 36,800 135,725 (104)257,547 
Operating (loss) income(343)52,180 21,258 31,949 — 105,044 
Equity in (loss) earnings of subsidiaries
(96,311)22,126 14,818 32,832 26,535 — 
Interest income (expense), net14 (64,879)478 222 — (64,165)
Loss on extinguishment of debt— (137,904)— — — (137,904)
Other income (expense), net— 625 (3,737)1,714 — (1,398)
(Loss) income before income
tax expense (benefit)
(96,640)(127,852)32,817 66,717 26,535 (98,423)
Income tax expense (benefit)— 1,079 4 (2,866)— (1,783)
Net (loss) income$(96,640)$(128,931)$32,813 $69,583 $26,535 $(96,640)
Comprehensive (loss) income$(96,640)$(127,559)$32,813 $70,875 $26,535 $(93,976)

Condensed Consolidating Statements of Comprehensive Income
For the Three Months Ended September 30, 2019
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Revenues$— $138,159 $59,093 $180,895 $(91)$378,056 
Costs and expenses517 86,742 37,872 153,044 (91)278,084 
Operating (loss) income(517)51,417 21,221 27,851 — 99,972 
Equity in earnings of subsidiaries
53,001 12,690 16,428 36,163 (118,282)— 
Interest income (expense), net104 (47,741)(1,683)2,418 — (46,902)
Other income (expense), net— 737 196 (325)— 608 
Income from continuing
operations before income
tax expense
52,588 17,103 36,162 66,107 (118,282)53,678 
Income tax expense— 124 — 966 — 1,090 
Income from continuing operations
52,588 16,979 36,162 65,141 (118,282)52,588 
Loss from discontinued operations, net of tax (a)
(4,777)— (4,776)(9,553)14,329 (4,777)
Net income$47,811 $16,979 $31,386 $55,588 $(103,953)$47,811 
Comprehensive income$47,811 $7,019 $31,386 $53,950 $(103,953)$36,213 
(a) Includes equity in earnings (loss) of subsidiaries related to discontinued operations.

 
Condensed Consolidating Statements of Comprehensive (Loss) Income
For the Nine Months Ended September 30, 2020
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Revenues$— $428,158 $182,285 $484,829 $(350)$1,094,922 
Costs and expenses1,670 348,490 114,971 525,455 (350)990,236 
Operating (loss) income(1,670)79,668 67,314 (40,626)— 104,686 
Equity in (loss) earnings of subsidiaries
(212,946)(84,577)41,895 106,510 149,118 — 
Interest income (expense), net101 (173,188)604 1,325 — (171,158)
Loss on extinguishment of debt— (141,746)— — — (141,746)
Other income (expense), net— 2,311 (3,297)(4,685)— (5,671)
(Loss) income before income tax expense (benefit)(214,515)(317,532)106,516 62,524 149,118 (213,889)
Income tax expense (benefit)— 1,440 5 (819)— 626 
Net (loss) income(214,515)(318,972)106,511 63,343 149,118 (214,515)
Comprehensive (loss) income$(214,515)$(346,366)$106,511 $59,842 $149,118 $(245,410)

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

NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Revenues$— $385,850 $181,898 $531,042 $(463)$1,098,327 
Costs and expenses1,892 247,182 115,157 467,699 (463)831,467 
Operating (loss) income(1,892)138,668 66,741 63,343 — 266,860 
Equity in earnings of subsidiaries
129,991 25,019 42,951 104,787 (302,748)— 
Interest income (expense), net329 (140,213)(5,456)8,454 — (136,886)
Other income (expense), net— 2,234 551 (765)— 2,020 
Income from continuing operations before income tax expense (benefit)
128,428 25,708 104,787 175,819 (302,748)131,994 
Income tax expense (benefit)2 (228)1 3,793 — 3,568 
Income from continuing operations
128,426 25,936 104,786 172,026 (302,748)128,426 
(Loss) income from discontinued
operations, net of tax (a)
(312,527)7,912 (320,439)(640,877)953,404 (312,527)
Net (loss) income$(184,101)$33,848 $(215,653)$(468,851)$650,656 $(184,101)
Comprehensive (loss) income$(184,101)$9,379 $(215,653)$(468,765)$650,656 $(208,484)
(a) Includes equity in earnings (loss) of subsidiaries related to discontinued operations.
Condensed Cash Flow Statement
Condensed Consolidating Statements of Cash Flows
For the Nine Months Ended September 30, 2020
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Net cash provided by operating
activities
$243,088 $106,852 $323,357 $317,549 $(597,987)$392,859 
Cash flows from investing activities:
Capital expenditures— (40,996)(12,671)(86,675)— (140,342)
Change in accounts payable related to capital expenditures
— (13,198)(194)(2,470)— (15,862)
Proceeds from sale or disposition
of assets
— 392 148 5,364 — 5,904 
Net cash used in investing activities
— (53,802)(12,717)(83,781)— (150,300)
Cash flows from financing activities:
Note offerings, net of
issuance costs
— 1,183,942 — — — 1,183,942 
Other debt borrowings
— 1,365,993 — 29,100 — 1,395,093 
Debt repayments, including debt extinguishment costs— (2,431,585)— (30,800)— (2,462,385)
Distributions to preferred unitholders
(92,734)(46,367)(46,367)(46,372)139,106 (92,734)
Distributions to common unitholders
(152,525)(76,262)(76,262)(76,271)228,795 (152,525)
Payments for termination of
interest rate swaps
— (49,225)— — — (49,225)
Distributions to affiliates
— — — (230,086)230,086 — 
Net intercompany activity12,816 49,652 (187,669)125,201 — — 
Payment of tax withholding for unit-based compensation
(8,821)— — — — (8,821)
Other, net(1,722)(13,707)(342)(439)— (16,210)
Net cash used in financing activities
(242,986)(17,559)(310,640)(229,667)597,987 (202,865)
Effect of foreign exchange rate changes on cash
— — — (380)— (380)
Net increase in cash, cash equivalents and restricted cash
102 35,491 — 3,721 — 39,314 
Cash, cash equivalents and restricted cash as of the beginning of the period176 8,812 — 15,992 — 24,980 
Cash, cash equivalents and restricted cash as of the end of the period
$278 $44,303 $— $19,713 $— $64,294 
Condensed Consolidating Statements of Cash Flows
For the Nine Months Ended September 30, 2019
(Thousands of Dollars)
NuStar
Energy		NuStar
Logistics		NuPOPNon-Guarantor
Subsidiaries		EliminationsConsolidated
Net cash provided by operating
activities
$281,988 $109,849 $88,654 $301,613 $(427,443)$354,661 
Cash flows from investing activities:
Capital expenditures— (215,031)(18,451)(201,561)— (435,043)
Change in accounts payable related to capital expenditures
— 1,539 (878)(13,302)— (12,641)
Proceeds from sale or disposition
of assets
— 166 34 114 — 314 
Proceeds from sale of St. Eustatius operations
— — — 227,709 — 227,709 
Investment in subsidiaries— (11,999)— — 11,999 — 
Other, net— — — (1,100)— (1,100)
Net cash (used in) provided by investing activities
— (225,325)(19,295)11,860 11,999 (220,761)
Cash flows from financing activities:
Note offerings, net of issuance costs— 491,588 — — — 491,588 
Other debt borrowings— 790,000 — 28,900 — 818,900 
Debt repayments
— (1,097,000)— (34,100)— (1,131,100)
Distributions to preferred unitholders
(91,269)(45,635)(45,635)(45,640)136,910 (91,269)
Distributions to common unitholders
(193,683)(96,841)(96,841)(96,851)290,533 (193,683)
Contributions from affiliates— — — 11,999 (11,999)— 
Net intercompany activity10,025 92,218 73,196 (175,439)— — 
Payment of tax withholding for unit-based compensation
(6,578)— — — — (6,578)
Other, net(1,648)(10,108)(79)(124)— (11,959)
Net cash (used in) provided by financing activities
(283,153)124,222 (69,359)(311,255)415,444 (124,101)
Effect of foreign exchange rate
changes on cash
— — — 681 — 681 
Net (decrease) increase in cash, cash equivalents and restricted cash
(1,165)8,746 — 2,899 — 10,480 
Cash, cash equivalents and restricted cash as of the beginning of the period1,255 51 — 12,338 — 13,644 
Cash, cash equivalents and restricted cash as of the end of the period
$90 $8,797 $— $15,237 $— $24,124