Magellan midstream partners, l.p. (MMP)
CashFlow / Quarterly
Mar'20Dec'19Sep'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
Operating Activities:
Net income

287,564

286,445

273,038

253,703

207,663

314,072

594,534

214,409

210,910

237,895

198,500

210,400

222,736

213,291

194,551

187,859

207,070

207,123

250,972

177,391

183,636

252,085

198,620

146,260

242,554

190,007

125,623

153,640

112,967

153,803

50,522

137,821

93,524

110,262

110,240

102,999

90,065

87,957

56,637

102,452

64,534

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, Depletion and Amortization

63,534

65,106

56,627

62,530

61,871

103,351

56,228

53,619

51,879

50,527

49,909

48,896

47,298

44,005

47,081

43,302

43,754

42,632

42,043

40,440

41,697

39,279

38,054

46,897

37,511

36,442

35,270

34,186

36,332

33,324

31,692

31,486

31,510

30,918

30,234

30,664

29,363

29,208

27,403

25,715

26,342

Gain on sale and retirement of assets

13,002

-261

2,790

4,678

21,759

-19,486

352,127

-2,589

-1,997

-5,789

16,255

-1,870

-3,461

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on sale and retirement of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,134

-1,004

-2,259

-

-2,294

-2,087

3

-2,393

-1,520

-2,105

-1,205

-3,566

-1,971

-507

-1,791

-2,050

-3,216

-1,952

-5,407

-1,070

-423

-5,276

-1,830

-956

-1,387

-336

1,617

Debt placement fee amortization expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

566

602

599

-

540

540

540

531

519

518

519

651

410

385

385

386

358

329

328

Income (Loss) from Equity Method Investments

43,660

46,732

50,189

40,785

31,255

50,274

53,795

42,510

34,538

42,821

31,151

25,576

21,446

27,153

18,576

15,339

17,628

16,830

15,521

24,542

9,590

15,328

1,645

1,955

466

1,113

2,375

736

2,051

-1,914

1,749

1,478

1,648

1,998

1,955

1,443

1,367

1,409

1,654

1,480

1,189

Distributions from operations of non-controlled entities

54,743

65,462

55,071

40,000

43,069

48,736

53,289

42,907

51,754

48,520

39,785

36,301

21,605

37,940

18,967

13,783

17,297

19,049

15,993

22,014

9,229

688

685

1,329

384

587

605

626

676

-1,914

1,749

1,478

1,648

1,233

1,655

1,343

1,367

1,613

1,370

850

1,020

Equity-based incentive compensation expense

155

1,435

6,773

10,890

4,914

7,441

7,933

10,047

6,632

6,458

3,466

6,570

4,147

4,621

4,678

3,409

6,650

9,019

4,687

5,788

4,751

9,553

4,978

7,665

5,088

9,584

4,217

5,426

4,856

8,481

5,547

4,165

2,843

5,959

2,734

5,267

3,750

7,417

4,573

1,950

4,959

Settlement gain, amortization of prior service credit and actuarial loss

1,113

1,497

1,805

3,640

1,303

3,648

1,761

1,657

5,069

1,992

1,812

2,298

2,548

784

681

318

428

869

870

1,095

644

266

87

1,833

-71

491

491

503

479

4,069

-2,812

853

852

261

701

77

78

26

101

-36

15

Debt prepayment costs

0

0

0

0

-8,270

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on exchange of interest in non-controlled entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,244

26,900

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-14,379

-

0

0

0

Trade accounts receivable and other accounts receivable

-29,988

-

-10,803

-1,129

36,886

-

33,042

-1,368

-23,371

-

17,094

31,307

-33,988

-

38,311

3,799

6,904

-

27,697

-15,290

12,194

-

14,557

-10,464

-15,022

-

19,261

-25,000

16,833

-

21,536

-21,789

22,814

-

7,713

-18,488

8,658

-

19,873

694

-10,014

Inventory

-112,007

-

33,045

-22,141

9,313

-

-4,212

-12,409

13,642

-

49,311

-26,977

12,050

-

-33,419

24,342

1,220

-

-24,739

-1,029

3,187

-

13,533

-21,293

23,011

-

581

2,752

-16,736

-

5,049

-24,500

-18,693

-

-28,876

61,437

8,151

-

-5,525

-33,843

49,642

Energy commodity derivatives contracts, net of derivatives deposits

-

-

-

-

-

-

-

-

-617

-

9,403

-1,825

-8,713

-

-17,758

16,989

132

-

9,991

-4,393

5,804

-

13,407

3,604

529

-

4,259

5,939

-1,311

-

18,618

-34,023

8,358

-

767

12,755

1,404

-

-5,158

4,346

-1,821

Reimbursable costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

236

-1,085

-

-62

338

-6,263

-

777

-996

-1,589

Accounts payable

7,926

-

6,904

19,201

2,909

-

8,655

-614

19,457

-

2,444

5,857

7,275

-

-3,275

8,073

1,052

-

3,820

12,757

-4,351

-

5,997

-2,474

2,960

-

1,278

-11,632

11,310

-

-4,958

6,981

-16,863

-

20,292

4,405

2,596

-

9,852

-14,469

19,850

Accrued payroll and benefits

-43,962

-

9,281

16,185

-39,065

-

8,094

15,474

-26,544

-

-99

12,257

-17,766

-

2,212

1,926

-16,863

-

15,174

1,857

-16,579

-

10,765

3,118

-14,552

-

10,211

6,284

-10,713

-

8,209

5,496

-13,984

-

-1,130

6,168

-13,388

-

5,912

5,615

-13,513

Accrued interest payable

-16,792

-

-9,607

11,017

-16,470

-

-21,286

17,894

-17,956

-

-23,202

23,207

-23,391

-

-13,391

14,363

-3,365

-

-6,905

6,237

-173

-

-1,612

-4,156

5,194

-

-4,252

4,020

-4,653

-

-7,283

7,288

-7,288

-

-3,600

4,657

-4,285

-

299

1,449

-3,465

Accrued taxes other than income

-17,673

-

15,227

7,075

-12,020

-

11,163

6,522

-16,721

-

6,435

3,419

-10,176

-

8,578

4,638

-11,101

-

7,357

4,778

-5,801

-

10,275

3,800

-7,479

-

8,043

3,061

-5,798

-

7,077

2,993

-5,707

-

4,500

2,751

-6,163

-

5,660

750

-2,098

Accrued product liabilities

-38,440

-

32,425

-17,972

18,949

-

16,178

-21,249

-10,893

-

72,769

9,010

-13,807

-

2,675

816

-9,674

-

-1,221

-16,324

-6,402

-

16,694

-5,300

-19,978

-

20,538

-29,158

6,273

-

15,384

-12,363

7,705

-

11,909

-38,374

37,311

-

-10,544

-4,454

7,253

Deferred revenue

3,656

-

-4,044

-6,794

-2,395

-

1,113

2,777

1,463

-

1,674

7,542

5,590

-

256

2,948

13,987

-

4,105

-4,742

4,778

-

1,310

4,726

1,448

-

13,696

-2,832

10,647

-

4,030

-958

2,010

-

-

-

-

-

-

-

-

Tank bottom inventory

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Current and noncurrent environmental liabilities

-

-

-

-

-

-

-

-

-359

-

1,837

-5,729

540

-

-2,954

-3,657

962

-

-4,980

101

15

-

2,648

-2,427

-1,393

-

2,083

-11,381

-1,469

-

8,043

-3,957

-2,109

-

3,802

4,834

2,032

-

2,222

-2,316

-1,582

Other current and noncurrent assets and liabilities

2,536

-

16,242

13,278

-26,771

-

3,195

30,877

-25,406

-

1,978

17,137

-7,618

-

24,556

19,569

-9,896

-

-3,546

25,913

-10,417

-

11,486

22,894

-25,588

-

7,319

-3,369

-4,540

-

-622

13,606

-2,716

-

-21,439

16,322

-1,382

-

-9,162

6,709

-8,718

Net cash provided by operating activities

384,621

398,582

352,037

364,004

206,556

489,169

299,715

286,164

277,902

317,528

230,138

316,680

266,883

334,309

231,927

197,500

209,568

345,588

309,285

223,736

191,083

393,986

235,959

207,282

270,074

246,884

186,519

172,732

166,941

234,213

73,756

248,745

89,741

151,181

208,087

70,670

147,385

108,767

102,587

139,965

73,337

Investing Activities:
Additions to property, plant and equipment, net

172,671

225,385

230,943

281,226

206,436

177,937

154,878

119,971

99,471

140,430

136,735

139,989

141,515

156,349

207,677

170,611

139,522

189,891

155,412

147,331

128,517

128,487

81,513

77,736

75,514

131,766

108,504

91,218

89,947

124,153

121,917

70,959

37,139

56,502

47,890

45,054

50,219

60,728

62,808

56,330

41,553

Proceeds from sale and disposition of assets

332,789

-208

1,687

10,211

53,676

-2,880

579,207

27

214

89

39,417

1,518

3,368

1,454

1,342

4,739

17

193

25

64

3,089

10,516

157

65

42

1,196

109

2,280

25

801

18

197

40

1,744

3,802

726

27

3,003

169

2,091

3,037

Acquisition of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

0

10,435

7,363

0

0

29,300

0

Investments in non-controlled entities

28,325

54,235

45,894

35,617

76,634

69,376

2,189

83,883

60,976

20,750

58,805

10,762

44,511

25,123

64,967

48,195

61,738

19,093

96,930

22,692

13,751

29,781

92,275

158,247

127,698

69,118

81,710

52,647

47,020

37,439

21,623

12,217

3,655

2,594

2,000

2,000

1,500

-

-

-

-

Acquisition of non-controlling owners' interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

40,500

-

-

-

0

Distributions from returns of investments in non-controlled entities

0

994

0

0

7,500

0

1,786

0

0

-

-

-

0

-4,500

2,558

-270

2,212

4,814

9,341

-4,613

4,613

1,569

2,153

1,078

687

176

-146

562

188

3,604

1

357

870

-

-

-

-151

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,100

-

-

-

0

Net cash provided (used) by investing activities

131,793

-272,504

-232,574

-280,280

-221,894

-220,693

423,926

-162,256

-160,233

-157,898

-103,385

-149,233

-182,658

-184,518

-268,744

-214,337

-199,031

-203,977

-242,976

-229,250

-134,566

-221,183

-171,478

-234,840

-202,483

-304,750

-269,475

-159,204

-148,617

-147,251

-107,857

-71,110

-41,863

-52,691

-49,164

-58,965

-97,921

-118,363

-353,630

-78,113

-40,054

Financing Activities:
Distributions paid

234,774

232,971

231,258

229,545

227,832

223,061

218,497

213,933

209,940

206,362

202,942

198,951

194,961

190,769

186,783

182,797

178,808

173,413

168,296

163,178

158,061

151,568

145,324

139,079

132,835

126,374

120,707

115,040

113,340

109,707

106,597

95,004

92,177

611,595

-88,498

-86,807

-85,398

553,836

-387,645

76,847

75,779

Net commercial paper borrowings

0

-

-

128,000

69,000

-

-

119,896

0

-268,970

72,099

29,920

116,965

14,988

11,003

23,995

-279,961

52,995

81,984

144,982

-296,942

-19,025

94,990

220,977

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net borrowings under revolver

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-150,000

73,000

62,000

15,000

-185,000

32,800

50,600

Borrowings under long-term notes

0

0

499,550

0

496,855

0

0

0

0

-

-

-

-

0

493,810

0

649,187

0

0

0

499,589

0

0

0

257,713

298,680

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments on notes

0

0

0

0

550,000

0

250,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt placement costs

0

0

5,195

1,462

5,355

78

0

11

315

6,316

0

0

0

406

5,092

90

5,318

1,469

20

73

4,661

0

25

239

2,648

4,849

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net payment on financial derivatives

0

0

25,314

0

8,028

-3,694

-20,925

0

0

-

-

-

-

-

-

-

-

0

0

0

42,908

0

0

0

3,613

184

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in outstanding checks

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,473

-557

-678

5,637

0

-13,438

2,393

7,509

-3,444

0

-1,672

Payments associated with settlement of equity-based incentive compensation

14,700

36

0

0

9,764

15

0

0

9,285

25

0

0

13,875

24

0

0

14,376

0

0

0

17,784

0

0

0

14,813

0

0

0

12,259

0

0

0

13,001

14,820

0

0

-7,410

6,742

0

0

-3,371

Debt prepayment costs

0

0

0

0

8,270

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common units

201,982

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-28

-43

-313

Net cash used by financing activities

-451,456

-232,971

40,783

-103,007

-243,394

-219,445

-567,468

-94,048

-219,540

15,057

-130,843

-169,031

-91,871

-426,187

293,651

-158,892

170,724

-121,887

-86,332

-18,269

-20,767

-170,593

-50,359

-168,341

103,804

68,873

-22,307

-115,040

-125,599

140,825

-99,124

-95,561

-105,856

-86,935

26,150

-27,245

-28,415

-59,938

292,966

-33,674

-30,535

Change in cash, cash equivalents and restricted cash

64,958

-106,893

160,246

-19,283

-258,732

49,031

156,173

29,860

-101,871

174,687

-4,090

-1,584

-7,646

-276,396

256,834

-175,729

181,261

19,724

-20,023

-23,783

35,750

2,210

14,122

-195,899

171,395

11,007

-105,263

-101,512

-107,275

227,787

-133,225

82,074

-57,978

11,555

185,073

-15,540

21,049

-69,534

41,923

28,178

2,748

Supplemental non-cash investing activities:
Contribution of property, plant and equipment to a non-controlled entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

13,252

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of limited partner units in settlement of equity-based incentive plan awards

-

-

-

-

-

-

-

-

120

-

0

0

1,669

197

0

0

7,092

0

0

0

8,045

0

0

0

7,315

0

0

0

6,404

0

0

0

7,295

0

0

0

4,315

0

0

0

2,034

Additions to property, plant and equipment

152,292

205,466

260,297

254,078

260,734

186,697

155,771

114,444

105,384

129,305

153,869

146,935

142,635

139,323

193,120

181,449

139,636

183,568

170,872

141,140

127,709

129,205

88,102

78,843

70,295

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in accounts payable and other current liabilities related to capital expenditures

-20,379

-19,919

29,354

-27,148

54,298

8,760

893

-5,527

5,913

-11,125

17,134

6,946

1,120

-17,026

-14,557

10,838

114

-6,323

15,460

-6,191

-808

718

6,589

1,107

-5,219

-7,910

276

-18,181

-11,863

9,936

35,664

11,512

-1,979

4,670

-3,076

-2,051

2,583

-7,320

0

5,426

-1,538

Payments to Acquire Property, Plant, and Equipment

172,671

225,385

230,943

281,226

206,436

177,937

154,878

119,971

99,471

140,430

136,735

139,989

141,515

156,349

207,677

170,611

139,522

189,891

155,412

147,331

128,517

128,487

81,513

77,736

75,514

131,766

108,504

91,218

89,947

124,153

121,917

70,959

37,139

56,502

47,890

45,054

50,219

60,728

62,808

56,330

41,553