2017 Q3 Form 10-Q Financial Statement

#000139209117000092 Filed on August 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.600M $3.300M $3.000M
YoY Change -39.53% 10.0% 25.0%
Cash & Equivalents $2.648M $3.274M $3.034M
Short-Term Investments
Other Short-Term Assets $7.496M $7.671M $8.312M
YoY Change -0.48% -7.71% 102.98%
Inventory
Prepaid Expenses
Receivables $7.915M $9.341M $10.66M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.58M $24.49M $27.63M
YoY Change -11.72% -11.39% 0.74%
LONG-TERM ASSETS
Property, Plant & Equipment $292.6M $298.3M $289.7M
YoY Change 2.0% 2.97% -10.58%
Goodwill $4.746M $4.746M $4.746M
YoY Change 0.0% 0.0% -55.76%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $19.90M
YoY Change -100.0% -100.0% 2.05%
Other Assets $13.49M $13.76M $14.63M
YoY Change -5.63% -5.91% 289.07%
Total Long-Term Assets $315.5M $321.6M $330.7M
YoY Change -3.94% -2.76% -8.28%
TOTAL ASSETS
Total Short-Term Assets $22.58M $24.49M $27.63M
Total Long-Term Assets $315.5M $321.6M $330.7M
Total Assets $338.1M $346.1M $358.4M
YoY Change -4.51% -3.43% -7.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.582M $4.430M $4.847M
YoY Change 4.13% -8.6% -60.06%
Accrued Expenses $10.00M $7.800M $8.100M
YoY Change 9.89% -3.7% 8.0%
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 $26.04M $25.95M $22.80M
YoY Change 16.66% 13.81% -15.03%
LONG-TERM LIABILITIES
Long-Term Debt $297.6M $303.6M $279.0M
YoY Change 17.16% 8.81% 14.81%
Other Long-Term Liabilities $4.800M $4.900M $7.800M
YoY Change -31.43% -37.18% -10.34%
Total Long-Term Liabilities $3.678M $3.372M $279.0M
YoY Change -98.55% -98.79% 14.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.04M $25.95M $22.80M
Total Long-Term Liabilities $3.678M $3.372M $279.0M
Total Liabilities $29.72M $29.32M $301.8M
YoY Change -89.25% -90.29% 11.85%
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 $9.700M $11.70M $48.80M
YoY Change
Total Liabilities & Shareholders Equity $338.1M $346.1M $358.4M
YoY Change -4.51% -3.43% -7.65%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Document Period End Date
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2017-06-30
dei Document Type
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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23467000 USD
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18979000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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CY2016Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2017Q2 us-gaap Net Income Loss
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6371000 USD
us-gaap Net Income Loss
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9913000 USD
CY2016Q2 us-gaap Net Income Loss Allocated To General Partners
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-195000 USD
us-gaap Net Income Loss Allocated To General Partners
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CY2017Q2 us-gaap Net Income Loss Allocated To General Partners
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256000 USD
us-gaap Net Income Loss Allocated To General Partners
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465000 USD
CY2016Q2 us-gaap Net Income Loss Allocated To Limited Partners
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-24130000 USD
us-gaap Net Income Loss Allocated To Limited Partners
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CY2017Q2 us-gaap Net Income Loss Allocated To Limited Partners
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-164000 USD
us-gaap Net Income Loss Allocated To Limited Partners
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-3110000 USD
CY2016Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership And General Partnership Unit Basic And Diluted
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us-gaap Net Income Loss Per Outstanding Limited Partnership And General Partnership Unit Basic And Diluted
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-0.85
CY2017Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership And General Partnership Unit Basic And Diluted
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0.00
us-gaap Net Income Loss Per Outstanding Limited Partnership And General Partnership Unit Basic And Diluted
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-0.08
CY2016Q2 us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
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5389000 USD
us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
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10780000 USD
CY2017Q2 us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable
6279000 USD
us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable
12558000 USD
us-gaap Number Of Operating Segments
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4 Operating-segments
CY2017Q2 us-gaap Number Of States In Which Entity Operates
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26 States
CY2016Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
27290000 USD
us-gaap Operating Costs And Expenses
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55050000 USD
CY2017Q2 us-gaap Operating Costs And Expenses
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30610000 USD
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
62516000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
58787000 USD
us-gaap Operating Expenses
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94750000 USD
CY2017Q2 us-gaap Operating Expenses
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36618000 USD
us-gaap Operating Expenses
OperatingExpenses
76276000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-15348000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-10334000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
6505000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
13062000 USD
CY2016Q4 us-gaap Other Assets Current
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7934000 USD
CY2017Q2 us-gaap Other Assets Current
OtherAssetsCurrent
7671000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
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14515000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
13761000 USD
CY2016Q4 us-gaap Other Liabilities Current
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4279000 USD
CY2017Q2 us-gaap Other Liabilities Current
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4393000 USD
CY2016Q4 us-gaap Partners Capital
PartnersCapital
25576000 USD
CY2017Q2 us-gaap Partners Capital
PartnersCapital
11651000 USD
us-gaap Partners Capital Account Distributions
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24550000 USD
us-gaap Partners Capital Account Unit Based Compensation
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524000 USD
us-gaap Payments Of Debt Issuance Costs
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17000 USD
us-gaap Payments Of Debt Issuance Costs
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4017000 USD
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21250000 USD
us-gaap Payments Of Distributions To Affiliates
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24550000 USD
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18989000 USD
us-gaap Payments To Acquire Businesses Gross
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0 USD
us-gaap Payments To Acquire Property Plant And Equipment
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11577000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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10331000 USD
us-gaap Proceeds From Sale Of Productive Assets
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8474000 USD
CY2017Q2 us-gaap Preferred Units Issued
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CY2016Q4 us-gaap Preferred Units Outstanding
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35125202 shares
CY2017Q2 us-gaap Preferred Units Outstanding
PreferredUnitsOutstanding
35125202 shares
CY2016Q4 us-gaap Preferred Units Preferred Partners Capital Accounts
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CY2017Q2 us-gaap Preferred Units Preferred Partners Capital Accounts
PreferredUnitsPreferredPartnersCapitalAccounts
253923000 USD
CY2016Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1578000 USD
CY2017Q2 us-gaap Prepaid Insurance
PrepaidInsurance
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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84000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
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154000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Partnership Contribution
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us-gaap Proceeds From Partnership Contribution
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Sale Of Equity Method Investments
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0 USD
us-gaap Proceeds From Sale Of Equity Method Investments
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25324000 USD
us-gaap Proceeds From Sale Of Productive Assets
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CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2017Q2 us-gaap Property Plant And Equipment Net
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us-gaap Repayments Of Lines Of Credit
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31000000 USD
us-gaap Repayments Of Lines Of Credit
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356000000 USD
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5862000 USD
us-gaap Revenue From Related Parties
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CY2017Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
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Revenues
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us-gaap Revenues
Revenues
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CY2017Q2 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
10454000 USD
CY2017Q2 us-gaap Sales Revenue Goods Net
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CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
28145000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
56808000 USD
us-gaap Share Based Compensation
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815000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
524000 USD
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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CY2016Q2 us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Unrealized Gain Loss On Derivatives
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CY2017Q2 us-gaap Write Off Of Deferred Debt Issuance Cost
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700000 USD
CY2017Q2 us-gaap Unrealized Gain Loss On Derivatives
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223000 USD
us-gaap Unrealized Gain Loss On Derivatives
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975000 USD
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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33206000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33191000 shares
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38155000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38151000 shares
us-gaap Basis Of Accounting
BasisOfAccounting
<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:24px;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 six months ended June 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;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2017</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;">six months ended June 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;">2017</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;">six months ended June 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;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2017</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;">June&#160;30, 2017</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 2016 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, 2016, 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, 2017</font><font style="font-family:inherit;font-size:10pt;"> (the &#8220;</font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> 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="#s22D457B32F34E811D4763BCF84FA531A"><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 </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> 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:24px;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 had significant influence but not control, was accounted for by the equity method. The Partnership did 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 increased or decreased, 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 reduced the carrying value of its investment and, to the extent received, were reflected in the Partnership&#8217;s unaudited condensed consolidated statements of cash flows in the line item &#8220;Distributions from unconsolidated affiliate.&#8221; Contributions increased the carrying value of the Partnership&#8217;s investment and were reflected in the Partnership&#8217;s unaudited condensed consolidated statements of cash flows in investing activities. On April 3, 2017, the Partnership sold its investment in Advantage Pipeline. See Note </font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;"> for additional information.</font></div></div>
CY2017Q2 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
700000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
700000 USD

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