| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||||
Net income | ||||||||||
35,178 | 102,403 | 57,117 | -238,623 | 43,264 | 116,980 | 41,053 | 46,743 | 19,352 | 27,038 | 34,134 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
108,192 | 106,838 | 105,652 | 111,942 | 115,851 | 86,364 | 77,134 | 45,458 | 30,359 | 20,082 | 14,740 |
Amortization of deferred financing fees | ||||||||||
5,038 | 5,372 | 5,644 | 6,019 | 5,899 | 5,627 | 6,897 | 5,753 | 4,723 | 3,007 | 1,169 |
Amortization of leasehold interests, ASC 842 | ||||||||||
0 | 327 | 631 | 1,252 | 794 | - | - | - | - | - | - |
Amortization of senior notes discount | ||||||||||
902 | 1,501 | 1,445 | 1,393 | 1,089 | 559 | 368 | - | - | - | - |
Bad debt expense | ||||||||||
560 | 588 | 211 | 231 | 1,172 | 1,700 | 4,145 | 869 | 1,860 | 1,060 | 1,872 |
Unit-based compensation expense | ||||||||||
1,966 | 2,738 | 2,755 | 4,145 | 4,208 | 3,485 | 1,806 | 6 | 361 | 228 | 1,946 |
Write-off of financing fees | ||||||||||
188 | - | 573 | 1,828 | - | 1,626 | - | - | - | - | - |
Loss on trustee taxes | ||||||||||
- | -52,627 | 16,194 | - | - | - | - | - | - | - | - |
Net (gain) loss on sale and disposition of assets | ||||||||||
2,730 | -5,880 | 1,624 | -20,495 | -2,097 | -2,182 | 1,273 | -627 | -222 | 5 | - |
Goodwill and long-lived asset impairment | ||||||||||
2,022 | 414 | 809 | 149,972 | - | - | - | - | - | - | - |
Loss on early extinguishment of debt | ||||||||||
-13,080 | - | - | - | - | - | - | - | - | - | - |
Deferred income taxes | ||||||||||
23 | 2,751 | -25,949 | -18,782 | -3,624 | -11 | 336 | 1,217 | - | 1,562 | - |
Curtailment gain | ||||||||||
- | - | - | - | - | - | - | 469 | - | - | 1,479 |
Changes in operating assets and liabilities, excluding net assets acquired: | ||||||||||
Accounts receivable | ||||||||||
78,978 | -81,898 | -3,886 | 110,237 | -154,716 | -226,962 | -8,524 | 57,160 | 70,464 | 218,214 | 91,146 |
Accounts receivable - affiliate | ||||||||||
2,388 | 1,662 | 630 | 565 | -1,325 | 2,499 | 97 | -469 | 546 | -335 | -953 |
Inventories | ||||||||||
64,790 | 29,778 | -173,167 | 135,888 | 32,648 | -235,993 | -61,992 | -40,898 | 77,313 | 120,908 | 225,577 |
Broker margin deposits | ||||||||||
19,700 | 5,085 | -17,972 | -3,674 | 14,129 | -4,594 | -32,934 | 10,791 | 28,434 | -2,558 | 9,068 |
Prepaid expenses, all other current assets and other assets | ||||||||||
-14,413 | 15,912 | 13,674 | -2,987 | -12,526 | 49,020 | -11,226 | 8,449 | 29,520 | 12,077 | 6,226 |
Accounts payable | ||||||||||
64,407 | -4,433 | -6,850 | 17,410 | -172,318 | -324,500 | 18,667 | 146,947 | 132,307 | 200,020 | 23,666 |
Trustee taxes payable | ||||||||||
319 | -15,081 | 9,155 | 5,902 | -15,648 | 25,528 | -11,278 | 5,002 | 6,695 | 28,344 | 8,906 |
Change in derivatives | ||||||||||
-30,030 | 31,764 | -2,346 | -40,218 | 8,869 | 17,509 | -5,778 | 9,845 | 10,958 | 10,810 | -171,858 |
Income taxes payable | ||||||||||
- | - | - | - | - | - | - | - | - | -461 | -59 |
Accrued expenses, all other current liabilities and other long-term liabilities | ||||||||||
-13,330 | 14,488 | 15,806 | 16,741 | -33,199 | 26,841 | -3,065 | 25,177 | 3,999 | -8,953 | 13,182 |
Net cash provided by operating activities | ||||||||||
94,402 | 168,856 | 348,442 | -119,886 | 62,506 | 344,902 | 255,147 | 232,452 | -17,357 | -87,194 | -61,129 |
Cash flows from investing activities | ||||||||||
Acquisitions | ||||||||||
- | 171,620 | 38,479 | - | 561,170 | - | 185,262 | 188,748 | - | 248,359 | - |
Capital expenditures | ||||||||||
82,864 | 69,174 | 49,866 | 71,279 | 92,925 | 95,114 | 67,132 | 44,872 | 15,957 | 14,687 | 9,075 |
Seller note issuances | ||||||||||
1,410 | 3,337 | 6,086 | - | - | - | - | - | - | - | - |
Proceeds from sale of property and equipment | ||||||||||
17,060 | 18,411 | 32,787 | 77,726 | 4,331 | 4,021 | 9,187 | 7,132 | 2,588 | 49 | 13 |
Net cash used in investing activities | ||||||||||
-67,214 | -225,720 | -61,644 | 6,447 | -649,764 | -91,093 | -243,207 | -226,488 | -13,369 | -262,997 | -9,062 |
Cash flows from financing activities | ||||||||||
Net borrowings from (payments on) working capital revolving credit facility | ||||||||||
- | - | - | - | - | -227,000 | -97,500 | -164,400 | 102,200 | 228,800 | - |
Net borrowings from (payments on) revolving credit facility | ||||||||||
- | - | - | - | - | -300,900 | 12,700 | 217,000 | -95,000 | 24,100 | 100,300 |
Net proceeds from issuance of Series A preferred units | ||||||||||
- | 66,366 | - | - | - | - | - | - | - | - | - |
Proceeds from issuance of term loan | ||||||||||
- | - | - | - | - | - | 115,000 | - | - | - | - |
Repayment of term loan | ||||||||||
- | - | - | - | - | - | 115,000 | - | - | - | - |
Net (payments on) borrowings from credit facility | ||||||||||
- | - | - | - | - | -3,000 | 3,700 | - | - | - | - |
Proceeds from senior notes, net | ||||||||||
392,602 | - | - | - | - | - | - | - | - | - | - |
Repayment of senior notes | ||||||||||
381,886 | - | - | - | - | - | - | - | - | - | - |
Proceeds from sale-leaseback, net | ||||||||||
- | - | - | 62,469 | - | - | - | - | - | - | - |
Proceeds from senior notes, net of discount | ||||||||||
- | - | - | - | 295,338 | 258,903 | 147,900 | - | - | - | - |
Repurchase of common units | ||||||||||
- | - | - | - | 3,892 | 8,632 | 4,590 | -2,152 | 658 | 882 | 3,956 |
LTIP units withheld for tax obligations | ||||||||||
657 | 835 | 522 | - | - | - | - | - | - | - | - |
Proceeds from issuance of common units, net | ||||||||||
- | - | - | - | 109,305 | 137,844 | - | - | 69,626 | 132,240 | - |
Repayment of senior notes | ||||||||||
381,886 | - | - | - | - | 40,244 | - | - | - | - | - |
Repurchased Units Withheld for Tax Obligations | ||||||||||
- | - | - | - | - | - | 2,086 | 96 | 675 | 404 | -386 |
Noncontrolling interest capital contribution | ||||||||||
- | - | 279 | - | 2,560 | 8,200 | 1,425 | - | - | - | - |
Distribution to noncontrolling interest | ||||||||||
- | - | 465 | 1,798 | 5,280 | 9,200 | 2,920 | - | - | - | - |
Distributions to partners | ||||||||||
76,626 | 66,004 | 62,660 | 62,520 | 97,495 | 73,759 | 67,329 | 54,667 | 42,800 | 31,964 | 26,050 |
Net cash (used in) provided by financing activities | ||||||||||
-23,267 | 50,127 | -281,968 | 122,351 | 583,136 | -257,788 | -8,700 | -4,315 | 32,693 | 351,890 | 69,908 |
Cash and cash equivalents | ||||||||||
Increase (decrease) in cash and cash equivalents | ||||||||||
3,921 | -6,737 | 4,830 | 8,912 | -4,122 | -3,979 | 3,240 | 1,649 | 1,967 | 1,699 | -283 |
Supplemental information | ||||||||||
Cash paid during the period for interest | ||||||||||
67,436 | 67,163 | 62,512 | 64,112 | 59,764 | 31,554 | 34,179 | - | - | 22,048 | 15,280 |
Net cash (received) paid during the period for income taxes | ||||||||||
-5,208 | 653 | 7,356 | - | - | - | - | - | - | - | - |
Cash paid during the period for income taxes | ||||||||||
- | - | - | 16,990 | 2,772 | 757 | 273 | - | - | 1,748 | 1,572 |
Non-cash exchange of 6.25% senior notes due 2022 | ||||||||||
- | - | - | - | - | 110,000 | - | - | - | - | - |
Net cash paid in connection with the acquisition of Alliance | ||||||||||
- | 171,620 | 38,479 | - | 561,170 | - | - | - | - | - | - |
Revolving Credit Facility [Member] | ||||||||||
Net (payments on) borrowings from credit facility | ||||||||||
-27,300 | 24,000 | -20,700 | -52,300 | - | - | - | - | - | - | - |
Working Capital Facility [Member] | ||||||||||
Net (payments on) borrowings from credit facility | ||||||||||
70,600 | 26,600 | -197,900 | 176,500 | - | - | - | - | - | - | - |