2021 Q3 Form 10-Q Financial Statement

#000150446121000031 Filed on August 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $1.754B $1.489B $844.4M
YoY Change 50.16% 76.29% -54.89%
Cost Of Revenue $1.526B $1.325B $677.0M
YoY Change 58.11% 95.67% -59.94%
Gross Profit $228.5M $163.9M $167.4M
YoY Change 12.43% -2.09% -8.02%
Gross Profit Margin 13.03% 11.01% 19.82%
Selling, General & Admin $11.45M $15.77M $17.20M
YoY Change -34.57% -8.29% -15.27%
% of Gross Profit 5.01% 9.63% 10.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $74.44M $87.98M $87.68M
YoY Change -18.04% 0.34% 56.24%
% of Gross Profit 32.57% 53.69% 52.39%
Operating Expenses $151.7M $166.3M $167.7M
YoY Change -6.69% -0.81% 22.68%
Operating Profit $64.82M -$69.33M -$10.79M
YoY Change 78.48% 542.87% -122.7%
Interest Expense $68.50M $67.13M $43.96M
YoY Change 45.94% 52.7% 10.24%
% of Operating Profit 105.67%
Other Income/Expense, Net $730.0K $1.249M $1.035M
YoY Change -53.94% 20.68% 2.48%
Pretax Income -$1.442M -$135.0M -$34.07M
YoY Change -127.66% 296.14% -493.34%
Income Tax -$235.0K -$450.0K -$301.0K
% Of Pretax Income
Net Earnings -$1.537M -$134.9M -$35.30M
YoY Change -127.12% 282.23% -524.98%
Net Earnings / Revenue -0.09% -9.06% -4.18%
Basic Earnings Per Share
Diluted Earnings Per Share -$11.86K -$1.041M -$274.1K
COMMON SHARES
Basic Shares Outstanding 129.6M shares 129.6M shares 128.8M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.531M $2.471M $26.40M
YoY Change -67.27% -90.64% -4.0%
Cash & Equivalents $5.531M $2.471M $26.40M
Short-Term Investments
Other Short-Term Assets $140.4M $106.4M $75.40M
YoY Change 89.26% 41.14% -57.81%
Inventory $319.9M $246.2M $135.9M
Prepaid Expenses
Receivables $863.2M $844.1M $424.8M
Other Receivables $8.979M $8.775M $14.80M
Total Short-Term Assets $1.338B $1.208B $677.4M
YoY Change 83.62% 78.32% -58.93%
LONG-TERM ASSETS
Property, Plant & Equipment $2.524B $2.549B $2.833B
YoY Change -9.84% -10.04% 40.56%
Goodwill $744.4M $744.4M $993.1M
YoY Change -24.21% -25.04% -13.87%
Intangibles $1.170B $1.187B $1.574B
YoY Change -23.92% -24.59% 68.96%
Long-Term Investments $21.03M $21.43M $22.63M
YoY Change -0.88% -5.31% 1327.51%
Other Assets $49.63M $54.72M $48.74M
YoY Change 3.94% 12.28% -61.24%
Total Long-Term Assets $4.644B $4.700B $5.649B
YoY Change -16.45% -16.8% 19.03%
TOTAL ASSETS
Total Short-Term Assets $1.338B $1.208B $677.4M
Total Long-Term Assets $4.644B $4.700B $5.649B
Total Assets $5.982B $5.907B $6.326B
YoY Change -4.85% -6.62% -1.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $819.1M $763.2M $367.5M
YoY Change 115.88% 107.7% -54.86%
Accrued Expenses $140.7M $164.6M $114.0M
YoY Change 10.7% 44.4% -29.98%
Deferred Revenue $18.39M $16.06M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.278M $2.230M $4.500M
YoY Change -82.61% -50.44% 650.0%
Total Short-Term Liabilities $1.051B $1.010B $616.7M
YoY Change 66.79% 63.78% -46.72%
LONG-TERM LIABILITIES
Long-Term Debt $3.419B $3.371B $3.281B
YoY Change 4.4% 2.73% 26.84%
Other Long-Term Liabilities $110.9M $115.4M $112.0M
YoY Change 4.79% 3.04% 83.17%
Total Long-Term Liabilities $110.9M $115.4M $112.0M
YoY Change 4.79% 3.04% 83.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.051B $1.010B $616.7M
Total Long-Term Liabilities $110.9M $115.4M $112.0M
Total Liabilities $1.162B $1.125B $728.8M
YoY Change 57.87% 54.44% -40.2%
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 $1.295B $1.296B $2.124B
YoY Change
Total Liabilities & Shareholders Equity $5.982B $5.907B $6.326B
YoY Change -4.85% -6.62% -1.08%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$1.537M -$134.9M -$35.30M
YoY Change -127.12% 282.23% -524.98%
Depreciation, Depletion And Amortization $74.44M $87.98M $87.68M
YoY Change -18.04% 0.34% 56.24%
Cash From Operating Activities -$2.682M -$5.163M $80.41M
YoY Change -104.24% -106.42% 15.05%
INVESTING ACTIVITIES
Capital Expenditures -$31.05M -$46.76M -$97.80M
YoY Change -10.01% -52.19% -37.07%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$1.206M $3.885M -$26.40M
YoY Change -123.19% -114.72% -39.86%
Cash From Investing Activities -$32.25M -$42.88M -$124.2M
YoY Change 10.08% -65.48% -37.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 38.00M $45.68M $47.50M
YoY Change -187.55% -3.83% -65.65%
NET CHANGE
Cash From Operating Activities -2.682M -$5.163M $80.41M
Cash From Investing Activities -32.25M -$42.88M -$124.2M
Cash From Financing Activities 38.00M $45.68M $47.50M
Net Change In Cash 3.060M -$2.358M $3.696M
YoY Change -132.55% -163.8% -58.61%
FREE CASH FLOW
Cash From Operating Activities -$2.682M -$5.163M $80.41M
Capital Expenditures -$31.05M -$46.76M -$97.80M
Free Cash Flow $28.37M $41.60M $178.2M
YoY Change -71.0% -76.66% -20.9%

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NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-1.23
CY2020Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-0.44
CY2021Q2 us-gaap Income Loss From Continuing Operations Net Of Tax Per Outstanding Limited Partnership Unit Diluted
IncomeLossFromContinuingOperationsNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-1.23
CY2020Q2 us-gaap Income Loss From Continuing Operations Net Of Tax Per Outstanding Limited Partnership Unit Diluted
IncomeLossFromContinuingOperationsNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-0.43
CY2021Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Outstanding Limited Partnership Unit Diluted1
IncomeLossFromDiscontinuedOperationsNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted1
0
CY2021Q2 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-1.23
CY2020Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Outstanding Limited Partnership Unit Diluted1
IncomeLossFromDiscontinuedOperationsNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted1
-0.01
CY2020Q2 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-0.44
CY2021Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
129593939 shares
CY2020Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
128771715 shares
CY2021Q2 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
129593939 shares
CY2020Q2 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
128771715 shares
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-134502000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-35252000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
44000 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-134494000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-35208000 USD
CY2021Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
948159000 USD
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
444000 USD
CY2021Q2 ngl Noncontrolling Interest Decrease From Disposition Of An Asset
NoncontrollingInterestDecreaseFromDispositionOfAnAsset
51097000 USD
CY2021Q2 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
960000 USD
CY2021Q2 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
-134502000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8000 USD
CY2021Q2 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
763084000 USD
CY2020Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
1735690000 USD
CY2020Q2 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
47678000 USD
CY2020Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2257000 USD
CY2020Q2 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
1349000 USD
CY2020Q2 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
-35252000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
44000 USD
CY2020Q2 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
1650783000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-134502000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-35252000 USD
CY2021Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2020Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-1486000 USD
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
87981000 USD
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
87680000 USD
CY2021Q2 ngl Gain Losson Early Extinguishmentof Liabilitiesor Revaluationof Liabilities
GainLossonEarlyExtinguishmentofLiabilitiesorRevaluationofLiabilities
51000 USD
CY2020Q2 ngl Gain Losson Early Extinguishmentof Liabilitiesor Revaluationof Liabilities
GainLossonEarlyExtinguishmentofLiabilitiesorRevaluationofLiabilities
19355000 USD
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
960000 USD
CY2020Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2302000 USD
CY2021Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-67536000 USD
CY2020Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-12022000 USD
CY2021Q2 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
-21000 USD
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
-27000 USD
CY2021Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-56657000 USD
CY2020Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-27402000 USD
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
212000 USD
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
289000 USD
CY2021Q2 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
1379000 USD
CY2020Q2 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
742000 USD
CY2021Q2 us-gaap Inventory Write Down
InventoryWriteDown
92000 USD
CY2020Q2 us-gaap Inventory Write Down
InventoryWriteDown
1950000 USD
CY2021Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-469000 USD
CY2020Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1223000 USD
CY2021Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
117733000 USD
CY2020Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-139734000 USD
CY2021Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
96816000 USD
CY2020Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
68281000 USD
CY2021Q2 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-31687000 USD
CY2020Q2 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-30606000 USD
CY2021Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
83753000 USD
CY2020Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-142439000 USD
CY2021Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
13658000 USD
CY2020Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
42348000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-5163000 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
81852000 USD
CY2021Q2 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
0 USD
CY2020Q2 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-1439000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5163000 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
80413000 USD
CY2021Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
46760000 USD
CY2020Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
97815000 USD
CY2021Q2 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
59857000 USD
CY2020Q2 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
26653000 USD
CY2021Q2 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
126000 USD
CY2020Q2 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
150000 USD
CY2021Q2 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
63489000 USD
CY2020Q2 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0 USD
CY2021Q2 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
116000 USD
CY2020Q2 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
CY2021Q2 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
243000 USD
CY2020Q2 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
103000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-42875000 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-124215000 USD
CY2021Q2 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
304000000 USD
CY2020Q2 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
442500000 USD
CY2021Q2 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
231000000 USD
CY2020Q2 ngl Paymentsfor Settlementand Early Extinguishmentof Liabilities
PaymentsforSettlementandEarlyExtinguishmentofLiabilities
62753000 USD
CY2020Q2 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
254500000 USD
CY2021Q2 ngl Proceedsfrom Issuanceof Senior Longterm Debtand Term Credit Agreement
ProceedsfromIssuanceofSeniorLongtermDebtandTermCreditAgreement
0 USD
CY2020Q2 ngl Proceedsfrom Issuanceof Senior Longterm Debtand Term Credit Agreement
ProceedsfromIssuanceofSeniorLongtermDebtandTermCreditAgreement
250000000 USD
CY2021Q2 us-gaap Early Repayment Of Subordinated Debt
EarlyRepaymentOfSubordinatedDebt
0 USD
CY2020Q2 us-gaap Early Repayment Of Subordinated Debt
EarlyRepaymentOfSubordinatedDebt
250000000 USD
CY2021Q2 ngl Early Repaymentof Subordinated Debt Excluding Accrued Interest
EarlyRepaymentofSubordinatedDebtExcludingAccruedInterest
18393000 USD
CY2020Q2 ngl Early Repaymentof Subordinated Debt Excluding Accrued Interest
EarlyRepaymentofSubordinatedDebtExcludingAccruedInterest
25040000 USD
CY2021Q2 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
5578000 USD
CY2020Q2 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
163000 USD
CY2021Q2 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2416000 USD
CY2020Q2 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9479000 USD
CY2021Q2 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
0 USD
CY2020Q2 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
40810000 USD
CY2021Q2 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
444000 USD
CY2020Q2 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2257000 USD
CY2021Q2 ngl Paymentsfor Settlementand Early Extinguishmentof Liabilities
PaymentsforSettlementandEarlyExtinguishmentofLiabilities
489000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45680000 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
47498000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2358000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3696000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4829000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22704000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2471000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26400000 USD
CY2021Q2 us-gaap Interest Paid Net
InterestPaidNet
35522000 USD
CY2020Q2 us-gaap Interest Paid Net
InterestPaidNet
56096000 USD
CY2021Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1299000 USD
CY2020Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
590000 USD
CY2021Q2 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
0 USD
CY2020Q2 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
15030000 USD
CY2021Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6944000 USD
CY2020Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
21042000 USD
CY2021Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
44700000 USD
CY2021Q2 us-gaap Nature Of Operations
NatureOfOperations
Organization and Operations<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NGL Energy Partners LP (“we,” “us,” “our,” or the “Partnership”) is a Delaware limited partnership. NGL Energy Holdings LLC serves as our general partner. At June 30, 2021, our operations included three segments:</span></div><div><span><br/></span></div><div style="margin-bottom:6pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Our Water Solutions segment transports, treats, recycles and disposes of produced and flowback water generated from oil and natural gas production. We also sell produced water for reuse and brackish non-potable water to our producer customers to be used in their crude oil exploration and production activities. As part of processing water, we aggregate and sell recovered crude oil, also known as skim oil. We also dispose of solids such as tank bottoms, drilling fluids and drilling muds and perform other ancillary services such as truck and frac tank washouts. Our activities in this segment are underpinned by long-term, fixed fee contracts and acreage dedications, some of which contain minimum volume commitments, with leading oil and gas companies including large, investment grade producer customers.</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Our Crude Oil Logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs, and provides storage, terminaling, and transportation services through its owned assets. Our activities in this segment are supported by certain long-term, fixed rate contracts which include minimum volume commitments on our pipelines.</span></div><div style="padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Our Liquids Logistics segment conducts supply operations for natural gas liquids, refined petroleum products and biodiesel to a broad range of commercial, retail and industrial customers across the United States and Canada. These operations are conducted through our 27 company-owned terminals, third-party storage and terminal facilities, common carrier pipelines and a fleet of leased railcars. We also provide marine exports of butane through our facility located in Chesapeake, Virginia.</span></div>
CY2021Q2 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amount of assets and liabilities reported at the date of the consolidated financial statements and the amount of revenues and expenses reported during the periods presented.</span></div>Critical estimates we make in the preparation of our unaudited condensed consolidated financial statements include, among others, determining the fair value of assets and liabilities acquired in acquisitions, the fair value of derivative instruments, the collectibility of accounts receivable, the recoverability of inventories, useful lives and recoverability of property, plant and equipment and amortizable intangible assets, the impairment of long-lived assets and goodwill, the fair value of asset retirement obligations, the value of equity-based compensation, accruals for environmental matters and estimating certain revenues. Although we believe these estimates are reasonable, actual results could differ from those estimates.
CY2021Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
45800000 USD
CY2021Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1100000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.231
CY2020Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
800000 USD
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.235
CY2021Q2 us-gaap Energy Related Inventory Petroleum
EnergyRelatedInventoryPetroleum
73645000 USD
CY2021Q1 us-gaap Energy Related Inventory Petroleum
EnergyRelatedInventoryPetroleum
64916000 USD
CY2021Q2 us-gaap Energy Related Inventory Propane Gas
EnergyRelatedInventoryPropaneGas
56985000 USD
CY2021Q1 us-gaap Energy Related Inventory Propane Gas
EnergyRelatedInventoryPropaneGas
45521000 USD
CY2021Q2 ngl Energy Related Inventory Biodiesel
EnergyRelatedInventoryBiodiesel
52619000 USD
CY2021Q1 ngl Energy Related Inventory Biodiesel
EnergyRelatedInventoryBiodiesel
16169000 USD
CY2021Q2 ngl Energy Related Inventory Butane
EnergyRelatedInventoryButane
43684000 USD
CY2021Q1 ngl Energy Related Inventory Butane
EnergyRelatedInventoryButane
19189000 USD
CY2021Q2 ngl Energy Related Inventory Ethanol
EnergyRelatedInventoryEthanol
6039000 USD
CY2021Q1 ngl Energy Related Inventory Ethanol
EnergyRelatedInventoryEthanol
3056000 USD
CY2021Q2 ngl Energy Related Inventory Diesel
EnergyRelatedInventoryDiesel
5831000 USD
CY2021Q1 ngl Energy Related Inventory Diesel
EnergyRelatedInventoryDiesel
2252000 USD
CY2021Q2 ngl Energy Related Inventory Other Natural Gas Liquids
EnergyRelatedInventoryOtherNaturalGasLiquids
7378000 USD
CY2021Q1 ngl Energy Related Inventory Other Natural Gas Liquids
EnergyRelatedInventoryOtherNaturalGasLiquids
7364000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
246181000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
158467000 USD
CY2021Q2 us-gaap Equity Method Investments
EquityMethodInvestments
21425000 USD
CY2021Q1 us-gaap Equity Method Investments
EquityMethodInvestments
22719000 USD
CY2021Q2 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
3007000 USD
CY2021Q1 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
2962000 USD
CY2021Q2 ngl Other Assets Line Fill Noncurrent
OtherAssetsLineFillNoncurrent
28065000 USD
CY2021Q1 ngl Other Assets Line Fill Noncurrent
OtherAssetsLineFillNoncurrent
28110000 USD
CY2021Q2 ngl Pipeline Commitments Minimum Shipping Fees Noncurrent
PipelineCommitmentsMinimumShippingFeesNoncurrent
12103000 USD
CY2021Q1 ngl Pipeline Commitments Minimum Shipping Fees Noncurrent
PipelineCommitmentsMinimumShippingFeesNoncurrent
13171000 USD
CY2021Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
11547000 USD
CY2021Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
6490000 USD
CY2021Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
54722000 USD
CY2021Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
50733000 USD
CY2021Q2 ngl Numberof Contracts
NumberofContracts
1
CY2021Q2 ngl Pipeline Commitments Minimum Shipping Fees
PipelineCommitmentsMinimumShippingFees
16400000 USD
CY2021Q2 ngl Pipeline Commitments Minimum Shipping Fees Current
PipelineCommitmentsMinimumShippingFeesCurrent
4300000 USD
CY2021Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
170400000 USD
CY2021Q2 us-gaap Interest Payable Current
InterestPayableCurrent
84136000 USD
CY2021Q1 us-gaap Interest Payable Current
InterestPayableCurrent
56299000 USD
CY2021Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
36251000 USD
CY2021Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
21562000 USD
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
23584000 USD
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
41456000 USD
CY2021Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
11037000 USD
CY2021Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
10970000 USD
CY2021Q2 ngl Product Exchange Liabilities Current
ProductExchangeLiabilitiesCurrent
4344000 USD
CY2021Q1 ngl Product Exchange Liabilities Current
ProductExchangeLiabilitiesCurrent
1188000 USD
CY2021Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
22878000 USD
CY2021Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
38925000 USD
CY2021Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
182230000 USD
CY2021Q2 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have reclassified certain prior period financial statement information to be consistent with the classification methods used in the current fiscal year. These reclassifications did not impact previously reported amounts of assets, liabilities, equity, net income, or cash flows.</span></div>
CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-134502000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-33766000 USD
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
438000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
51000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-134940000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-33817000 USD
CY2021Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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