Buckeye partners, l.p. (BPL)
CashFlow / Quarterly
Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

112,845

90,515

81,260

483,012

-745,336

93,317

117,092

130,753

120,224

116,379

126,309

108,929

160,270

144,499

134,977

135,097

99,947

91,326

111,164

55,879

103,728

23,753

91,497

-81,695

78,251

77,370

90,499

35,799

85,259

56,026

53,467

61,459

-108,200

93,592

67,813

35,966

60,962

53,438

50,642

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization

66,896

65,859

63,884

70,252

68,464

66,569

64,138

73,256

65,661

64,838

65,488

66,439

63,472

63,322

61,426

57,074

54,830

55,598

53,776

64,652

45,406

43,394

42,991

39,385

38,755

39,452

37,591

41,938

37,134

34,325

33,027

32,307

31,230

29,756

26,241

15,331

15,062

14,669

14,528

Amortization of debt issuance costs, discounts and terminated interest rate swaps

3,591

3,591

3,997

3,832

3,927

3,928

3,900

4,149

4,331

4,361

4,361

13,394

1,186

1,173

1,173

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of losses on terminated interest rate swaps

-

-

-

-

-

-

-

-

-

-

-

-

3,037

3,038

3,037

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash unit-based compensation expense

5,949

5,769

9,912

180

4,938

8,008

8,764

4,633

8,270

8,950

8,715

10,505

8,887

7,772

6,318

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on asset impairments, disposals and recoveries, net

-425

-20

-576

327,329

0

1,673

13,982

-4,621

0

4,621

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in fair value of derivatives, net

661

2,236

-17,163

23,382

-3,260

-423

233

-691

-4,063

3,090

26,394

-4,419

-6,675

-11,267

-80,975

34,809

47,606

-18,851

-54,387

45,884

25,685

-6,352

12,684

-18,384

4,234

12,665

-291

3,719

-12,575

-1,528

-2,952

-83,686

81,891

-10,069

78,611

29,427

3,251

-6,282

19,183

Non-cash deferred lease expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

909

909

910

909

942

944

942

942

976

975

975

975

1,031

1,030

1,031

1,030

1,059

1,059

1,058

1,059

Amortization of acquired storage contracts

-

-

-

-

-

-

-

-

-

-

-

0

-443

-2,768

-2,768

-2,768

-2,767

-2,768

-2,768

-2,768

-2,767

-2,768

-2,768

-2,768

-2,758

-2,749

-2,748

-2,749

-2,748

-2,749

-2,748

-2,749

-485

-2,396

-1,932

-

-

-

-

Income (Loss) from Equity Method Investments

4,711

2,871

3,345

2,510

-292,387

8,265

7,489

13,295

9,232

3,120

10,358

3,077

2,901

2,470

3,088

1,831

-30

2,446

2,134

5,306

2,523

2,170

1,266

272

1,389

1,953

1,629

1,813

553

1,785

1,949

2,674

2,379

2,034

3,347

2,556

3,391

2,764

2,652

Distributions of earnings from equity investments

795

4,675

400

4,362

4,375

15,613

0

9,952

8,202

15,972

1,728

862

824

1,220

374

850

0

3,758

500

250

95

0

125

1,037

150

0

125

1

99

1,372

1,853

4,734

130

-1

1,793

-

-

-

-

Value of ESOP shares released

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,183

1,265

1,209

1,130

1,141

Other non-cash items

-497

-4,148

1,168

-2,739

-84

-1,765

-20

-2,608

81

-1,002

-103

-3,390

-785

-2,313

-674

26,726

-11,558

-10,298

-12,463

22,007

-10,077

-5,452

-6,585

-24,392

-7,999

-5,449

-4,356

-6,632

-3,811

-6,059

-4,412

-2,402

-2,993

-3,947

-3,134

1,832

-2,492

-7,866

2,806

Change in assets and liabilities, net of amounts related to acquisitions:
Accounts receivable, net

7,178

-31,373

27,270

-26,153

20,976

-35,142

-14,267

54,505

12,733

-7,559

-30,722

-16,463

31,214

-29,510

38,405

-8,571

4,413

-51,325

7,477

-160,547

23,530

-26,092

91,810

86,383

32,210

-62,034

13,102

41,322

45,968

825

-14,803

30,606

17,918

-11,976

-6,864

33,579

20,119

-20,987

10,398

Construction and pipeline relocation receivables

-5,214

3,271

-4,191

-422

3,152

893

-411

-4,120

-4,871

-1,702

4,464

627

5,449

-88

-1,027

-481

1,377

-4,408

-3,539

1,963

4,423

257

-1,219

3,705

4,506

1,106

740

1,406

410

2,340

260

2,506

1,116

-386

-1,377

-2,041

-2,782

206

-2,675

Inventories

-6,811

-14,238

-65,544

11,828

41,593

-2,270

-143,246

66,960

-53,061

-18,653

-51,676

61,241

46,714

55,638

-1,336

-43,176

-48,521

126,327

-87,405

-184,688

-17,154

26,794

104,980

-12,225

121,856

2,049

-66,336

62,133

67,124

-57,501

-110,897

-112,101

67,730

111,539

-169,679

46,702

-28,592

45,640

-73,705

Prepaid and other current assets

1,084

15,496

775

-6,621

-375

24,009

5,266

-4,322

-2,399

9,696

-26,253

-4,617

-4,853

31,459

19,235

-7,990

-31,713

28,474

14,752

-10,042

-5,670

-17,173

-2,071

-7,243

-13,120

12,675

-24,418

-14,300

8,505

19,437

-31,156

12,341

-7,787

7,345

-7,679

14,921

5,673

-10,748

-26,214

Accounts payable

20,735

-5,181

-37,611

6,776

46,999

-8,025

-71,100

76,928

14,511

8,453

-53,814

16,651

19,363

-34,754

24,723

-10,419

14,391

-56,573

-12,638

-74,265

128,833

-87,485

60,777

-24,086

54,674

-28,865

9,588

19,333

8,730

23,910

-31,670

33,563

20,024

1,634

-25,349

12,185

-8,006

10,682

-3,053

Accrued and other current liabilities

2,492

6,505

-19,596

7,607

16,473

8,614

-32,650

12,767

-8,881

16,248

-24,412

2,741

1,933

29,906

-41,927

35,640

3,017

19,993

-41,891

21,373

-30,518

49,131

-36,867

48,073

-30,065

45,855

-30,347

26,140

-36,226

16,876

-27,532

20,412

-38,967

26,877

-24,634

32,783

-13,425

9,787

1,271

Other non-current assets and liabilities

-15,874

-5,724

10,923

8,400

2,140

-2,166

-15,073

7,560

3,577

413

2,869

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-current assets

-

-

-

-

-

-

-

-

-

-

-

-

-615

-40

517

-

-1,576

-4,142

1,898

7,252

6,715

6,880

-1,141

338

1,257

-3,337

1,116

2,609

-4,827

5,695

-1,853

-5,877

-4,824

-1,738

-5,107

-6,469

311

-422

-2,948

Other non-current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-1,306

-1,505

-4,054

-

-320

-2,632

-2,053

532

1,368

-2,419

-4,558

-21,346

-1,119

-1,880

-2,047

4,322

8,976

-198

-9,635

-83,068

78,315

4,894

-1,645

-6,420

-1,153

1,356

2,345

Total adjustments from operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,194

34,465

93,406

Net cash provided by operating activities

228,490

203,362

146,239

171,639

165,049

194,950

236,191

201,092

251,089

243,177

193,044

168,144

178,173

165,554

206,046

207,761

210,829

53,979

237,623

417,291

160,231

69,738

-47,618

100,090

-5,501

108,488

182,417

93,640

852

165,543

181,601

221,830

-2,793

28,473

156,382

-3,628

64,156

87,903

144,048

Capital expenditures

80,811

87,763

103,403

110,624

106,952

133,119

116,916

129,646

100,728

104,709

98,252

106,244

155,955

111,772

112,345

161,368

134,738

164,390

134,024

171,318

99,316

91,651

109,864

104,437

109,141

80,681

67,186

98,333

85,005

73,687

74,313

113,956

90,907

62,428

38,033

28,424

21,703

16,609

10,963

Proceeds from sale of VTTI and DPTS asset package

0

10,000

975,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contribution to equity investment

28,052

25,120

13,076

11,143

2,700

28,361

0

0

237,844

0

1,150,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Escrow deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions from equity investments in excess of earnings

-1,612

-1,833

-4,750

-24,110

-19,375

-13,690

-19,238

-14,773

-9,549

-6,730

-672

-2,526

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition working capital settlement

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of business, net of cash acquired

0

0

0

-1

-12

12

-895

-

-

-

-

-

-

-

-

5,197

0

109

2,812

-

-

-

-

-

-

-

-

-

-

-

-

5,058

18,179

165,977

895,255

-

-

-

-

Deposit in anticipation of acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,000

-

-1,311

-20,616

22,427

-

-

-

-

Proceeds from property disposals and recoveries

-1,963

-1,090

-8,246

0

0

-1,673

-7,715

-1,359

-1

-4,647

-402

-6,028

-460

-275

-1,500

670

-10,061

4

-17

-24

-512

-670

-21

-61

145

-220

-358

-1,626

570

-305

-317

336

-140

-391

-42

-46,386

174

100

22,174

Escrow returns (deposits)

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-19,850

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-105,288

-99,960

871,517

397,881

-90,265

-146,129

-89,068

-140,456

-329,022

-93,332

-1,247,178

-103,474

-175,736

-111,497

-90,995

-188,895

-124,677

-164,503

-136,819

-73,120

-918,102

-90,432

-109,843

-948,103

-109,286

-80,461

-66,828

-96,707

-331,887

-73,732

-87,996

-118,850

-113,358

-122,398

-955,673

-72,580

-36,310

-16,509

11,211

Net proceeds from issuance of Units and exercise of Unit options

0

0

0

4

-84

-24

262,066

-160

297,515

45,228

3,693

581,006

18,240

52,592

37,590

43,654

55,406

58,732

3,682

77,766

747,427

22,300

52,217

520,657

9,495

23,260

349,564

0

157

-813

247,461

-106

-20

316,592

420,405

-

-

-

-

Net proceeds from exercise of Unit options

-

-

-

-

-

-

-

-

-

-

-

-

0

139

161

42

0

37

136

151

83

346

269

-

-

-

-

0

68

938

61

1,341

1,791

165

270

514

1,299

600

2,376

Payment of tax withholding on vesting of LTIP awards

33

65

2,245

1,524

54

132

6,596

960

182

130

8,175

1,588

41

173

4,909

1,033

128

74

6,465

990

453

47

4,744

1,293

13

230

3,498

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of long-term debt, net of issuance costs

0

0

0

0

1

-30

394,966

394,447

-29

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

647,530

-

-

-

-

Loss on early extinguishment of debt

0

0

3,647

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net borrowings (repayments) under BES credit agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

56,300

Repayment of long-term debt

0

0

525,000

400,000

0

0

300,000

0

125,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,525

1,534

1,540

1,547

1,557

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

750

0

5

360

631

6,783

-10

10

-

-

-

-

-

-

-

-

0

5,049

0

4,919

306

18

3,218

9

Borrowings under the BPL Credit Facility

272,900

224,755

179,760

735,100

362,420

681,580

612,600

367,900

679,082

268,600

597,290

28,500

287,200

348,000

343,500

540,450

255,000

440,000

392,000

380,031

629,000

442,000

405,000

271,500

779,000

262,000

339,000

184,300

519,500

225,500

111,000

121,500

416,700

162,032

521,500

122,500

80,900

35,500

59,500

Repayments under the BPL Credit Facility

253,355

178,701

509,961

784,919

256,540

393,040

779,300

698,800

541,482

250,813

255,077

231,400

449,300

312,000

375,500

422,450

197,000

355,000

292,000

380,031

874,000

367,000

264,000

649,600

371,900

647,000

619,000

121,900

126,900

195,500

255,000

43,200

291,000

377,032

284,500

44,500

60,900

55,500

117,500

Net repayments under the BMSC Credit Facility

-30,775

-27,732

-40,178

-474

7,195

55,806

-137,004

66,794

-41,850

-31,050

258,310

-218,340

40,851

27,889

38,112

-36,962

-60,850

113,500

-70,200

-16,000

-218,000

52,000

122,000

45,900

104,100

-48,900

-81,300

40,200

53,000

-38,400

-99,800

-95,600

79,600

32,200

-49,300

-

-

-

-

Contributions from noncontrolling interests

0

0

0

0

0

3,000

4,400

4,300

2,100

2,000

3,600

1,240

1,560

0

2,200

13,000

14,000

17,400

12,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Costs associated with agreement and plan of merger

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

344

-

-

-

-

Distributions paid to noncontrolling interests

904

958

947

950

2,740

4,843

7,759

14,573

7,765

10,067

6,825

4,219

5,337

4,936

1,258

5,624

5,130

1,310

1,908

1,376

1,668

1,596

1,953

2,221

419

2,915

2,295

1,807

2,212

4,293

2,395

4,612

492

2,564

1,204

50,048

49,081

48,849

47,586

Proceeds from settlement of treasury lock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

497

-

-

-

-

Distributions to LP unitholders

115,928

115,926

115,852

115,588

185,978

186,088

186,069

185,326

178,909

176,111

174,149

171,922

159,130

156,487

154,147

151,393

148,946

146,338

144,294

142,780

132,247

127,217

124,954

123,285

104,302

100,970

100,272

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of debt assumed in BORCO acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

318,167

-

-

-

-

Distributions paid to partners of Buckeye GP Holdings L.P.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,301

12,735

12,169

11,603

Distributions paid to unitholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

92,737

-

87,251

84,759

78,148

-

-

-

-

Net cash used in financing activities

-128,095

-98,627

-1,018,070

-568,351

-75,780

-53,771

-142,696

-66,378

83,480

-152,343

418,667

575,668

-17,197

-44,976

-114,251

-21,066

-87,648

116,898

-106,809

-342,460

742,462

11,286

183,825

847,981

114,880

-27,702

-117,801

6,892

333,428

-106,312

-91,532

-106,190

114,214

45,628

852,095

73,912

-27,421

-76,051

-172,679

Net decrease in cash and cash equivalents

-4,893

4,775

-314

1,169

-996

-4,950

4,427

-5,742

5,547

-2,498

-635,467

640,338

-14,760

9,081

800

-2,200

-1,496

6,374

-6,005

1,711

-15,409

-9,408

26,364

-32

93

325

-2,212

3,825

2,393

-14,501

2,073

-3,210

-1,937

-48,297

52,804

-2,296

425

-4,657

-17,420