2019 Q3 Form 10-Q Financial Statement

#000139209119000074 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.800M $1.500M $1.200M
YoY Change 47.37% 25.0% -63.64%
Cash & Equivalents $2.777M $1.542M $1.193M
Short-Term Investments
Other Short-Term Assets $7.774M $7.477M $12.72M
YoY Change -20.95% -41.2% 65.77%
Inventory
Prepaid Expenses
Receivables $25.91M $26.66M $31.27M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $38.34M $36.80M $48.49M
YoY Change -38.63% -24.1% 98.04%
LONG-TERM ASSETS
Property, Plant & Equipment $238.8M $241.1M $295.7M
YoY Change -19.12% -18.46% -0.88%
Goodwill $6.728M $6.728M $6.728M
YoY Change 0.0% 0.0% 41.76%
Intangibles $14.78M $15.46M
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $1.348M $1.287M $18.92M
YoY Change -92.58% -93.2% 37.48%
Total Long-Term Assets $275.6M $279.5M $342.0M
YoY Change -14.87% -18.29% 6.34%
TOTAL ASSETS
Total Short-Term Assets $38.34M $36.80M $48.49M
Total Long-Term Assets $275.6M $279.5M $342.0M
Total Assets $314.0M $316.3M $390.5M
YoY Change -18.71% -19.01% 12.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.036M $3.793M $5.244M
YoY Change -6.38% -27.67% 18.37%
Accrued Expenses $28.20M $25.00M $7.700M
YoY Change -29.32% 224.68% -1.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0K $300.0K
YoY Change
Total Short-Term Liabilities $47.00M $45.19M $49.60M
YoY Change -17.74% -8.9% 91.18%
LONG-TERM LIABILITIES
Long-Term Debt $258.6M $261.6M $349.6M
YoY Change -4.79% -25.17% 15.15%
Other Long-Term Liabilities $3.708M $26.20M $4.700M
YoY Change -17.6% 457.45% -4.08%
Total Long-Term Liabilities $262.3M $261.6M $349.6M
YoY Change -3.42% -25.17% 10267.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.00M $45.19M $49.60M
Total Long-Term Liabilities $262.3M $261.6M $349.6M
Total Liabilities $309.3M $306.8M $399.2M
YoY Change -5.91% -23.15% 1261.61%
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 -$17.90M -$17.20M -$13.40M
YoY Change
Total Liabilities & Shareholders Equity $314.0M $316.3M $390.5M
YoY Change -18.71% -19.01% 12.83%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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AmortizationandWriteOffofDebtIssuanceCosts
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bkep Amortizationand Write Offof Debt Issuance Costs
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3679000 USD
bkep Increase Decrease In Deferred Revenue Related Parties
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2797000 USD
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10019000 USD
CY2019Q2 bkep Loss Contingency Accrual Current Relatedparty
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11980000 USD
CY2019Q2 bkep Maximumquarterlydistribution
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10700000 USD
bkep Noncash Changesin Property Plantand Equipment
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294000 USD
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1515000 USD
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41600000 shares
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1133000 shares
bkep Weighted Average Restrictedand Phantom Partnership Units Outstanding Basicand Diluted
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983000 shares
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dei Document Fiscal Year Focus
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2019-06-30
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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: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 balance sheet as of </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2019</font><font style="font-family:inherit;font-size:10pt;">, 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;">2018</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;">2019</font><font style="font-family:inherit;font-size:10pt;">, the condensed consolidated statements of changes in partners&#8217; capital (deficit) 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:inherit;font-size:10pt;">2018</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;">2019</font><font style="font-family:inherit;font-size:10pt;">, and 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;">2018</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;">2019</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 </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;"> 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 </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, 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;12, 2019</font><font style="font-family:inherit;font-size:10pt;"> (the &#8220;</font><font style="font-family:inherit;font-size:10pt;">2018</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="#sB5D440D5A4B95729A8D77A315E81EBD5"><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;">2018</font><font style="font-family:inherit;font-size:10pt;"> Form 10-K except for new accounting standards adopted in 2019 as discussed Note 3 and Note 14. </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;">Certain reclassifications have been made in the consolidated balance sheet as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, and the consolidated statement 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;"> 2018, to conform to the 2019 financial statement presentation. These reclassifications relate to items included in &#8220;Other current assets&#8221; and &#8220;Other noncurrent assets.&#8221; Reclassifications on the consolidated statement of cash flows were limited to the &#8220;Cash flows from operating activities&#8221; section. The reclassifications have no impact on net income.</font></div></div>

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