2016 Q4 Form 10-Q Financial Statement

#000139209116000192 Filed on November 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.300M $4.300M $1.100M
YoY Change 10.0% 290.91% -21.43%
Cash & Equivalents $3.304M $4.285M $1.136M
Short-Term Investments $0.00
Other Short-Term Assets $7.934M $7.532M $3.943M
YoY Change 80.98% 91.02% 2.31%
Inventory
Prepaid Expenses
Receivables $7.544M $8.571M $10.08M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.22M $25.58M $20.46M
YoY Change 14.77% 25.01% -13.76%
LONG-TERM ASSETS
Property, Plant & Equipment $307.3M $286.8M $326.4M
YoY Change -1.79% -12.13% 6.83%
Goodwill $4.700M $4.746M $10.73M
YoY Change 7.13% -55.76% 48.66%
Intangibles
YoY Change
Long-Term Investments $20.60M $20.20M $19.70M
YoY Change 7.85% 2.54% -1.5%
Other Assets $14.52M $14.30M $3.293M
YoY Change 113.9% 334.22% 95.66%
Total Long-Term Assets $353.4M $328.4M $362.6M
YoY Change 2.33% -9.42% 7.35%
TOTAL ASSETS
Total Short-Term Assets $22.22M $25.58M $20.46M
Total Long-Term Assets $353.4M $328.4M $362.6M
Total Assets $375.7M $354.0M $383.0M
YoY Change 2.99% -7.58% 5.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.174M $3.440M $10.30M
YoY Change -39.38% -66.6% 27.31%
Accrued Expenses $9.300M $9.100M $9.800M
YoY Change -8.82% -7.14% 3.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.54M $22.32M $27.93M
YoY Change -23.57% -20.09% 18.24%
LONG-TERM LIABILITIES
Long-Term Debt $324.0M $254.0M $232.0M
YoY Change 32.24% 9.48% 9.43%
Other Long-Term Liabilities $5.500M $7.000M $9.100M
YoY Change -3.51% -23.08% 71.7%
Total Long-Term Liabilities $2.959M $254.0M $232.0M
YoY Change -98.79% 9.48% 9.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.54M $22.32M $27.93M
Total Long-Term Liabilities $2.959M $254.0M $232.0M
Total Liabilities $23.50M $276.3M $259.9M
YoY Change -91.36% 6.3% 10.32%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.60M $70.70M $114.0M
YoY Change
Total Liabilities & Shareholders Equity $375.7M $354.0M $383.0M
YoY Change 2.99% -7.58% 5.96%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3

Facts In Submission

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5391000 USD
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16173000 USD
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us-gaap Operating Income Loss
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30792000 USD
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30044000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Weighted Average Limited Partnership Units Outstanding
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us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
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32919000 shares
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us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Basis Of Accounting
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BASIS OF CONSOLIDATION AND PRESENTATION</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;).&#160;&#160;The condensed consolidated statements of operations for the </font><font style="font-family:inherit;font-size:10pt;">three and nine months ended September 30,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">, the condensed consolidated statement of changes in partners&#8217; capital for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">, the condensed consolidated statements of cash flows for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">, and the condensed consolidated balance sheet as of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2016</font><font style="font-family:inherit;font-size:10pt;">, are unaudited.&#160;&#160;In the opinion of management, the unaudited condensed consolidated financial statements have been prepared on the same basis as the audited financial statements and include all adjustments necessary to state fairly the financial position and results of operations for the respective interim periods.&#160;&#160;All adjustments are of a recurring nature unless otherwise disclosed herein.&#160;&#160;The 2015 year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP.&#160;&#160;These unaudited condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership&#8217;s annual report on Form 10-K for the year ended December&#160;31, 2015, filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">March&#160;9, 2016</font><font style="font-family:inherit;font-size:10pt;"> (the &#8220;2015 Form 10-K&#8221;).&#160;&#160;Interim financial results are not necessarily indicative of the results to be expected for an annual period.&#160;&#160;The Partnership&#8217;s significant accounting policies are consistent with those disclosed in </font><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#s0D21F25DAD4E43010113BD15A62D3720"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Note 3</font></a><font style="font-family:inherit;font-size:10pt;"> of the Notes to Consolidated Financial Statements in its 2015 Form 10-K. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Partnership&#8217;s investment in Advantage Pipeline, L.L.C. (&#8220;Advantage Pipeline&#8221;), over which the Partnership has significant influence but not control, is accounted for by the equity method. The Partnership does not consolidate any part of the assets or liabilities of its equity investee. The Partnership&#8217;s share of net income or loss is reflected as one line item on the Partnership&#8217;s unaudited condensed consolidated statements of operations entitled &#8220;Equity earnings in unconsolidated affiliate&#8221; and will increase or decrease, as applicable, the carrying value of the Partnership&#8217;s &#8220;Investment in unconsolidated affiliate&#8221; on the unaudited condensed consolidated balance sheets. Distributions to the Partnership reduce the carrying value of its investment and are reflected in the Partnership&#8217;s unaudited condensed consolidated statements of cash flows in the line item &#8220;Distributions from unconsolidated affiliate.&#8221; Contributions will increase the carrying value of the Partnership&#8217;s investment and will be reflected in the Partnership&#8217;s unaudited condensed consolidated statements of cash flows in investing activities.</font></div></div>

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