Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 178,697
|
$ 177,551
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion |
234,418
|
202,927
|
| Amortization of deferred financing fees |
7,608
|
2,291
|
| Loss on disposal of assets |
2,918
|
894
|
| Non-cash unit based compensation |
9,455
|
5,886
|
| Deferred income tax |
21,056
|
10,848
|
| Changes in operating assets and liabilities, net of acquisitions: |
|
|
| Accounts receivable, net |
(63,366)
|
(69,526)
|
| Accounts receivable from affiliates |
1,946
|
(20,752)
|
| Inventories, net |
(7,394)
|
84,224
|
| Other assets |
(81,629)
|
(3,344)
|
| Accounts payable |
16,722
|
9,942
|
| Accounts payable to affiliates |
16,647
|
(21,520)
|
| Accrued expenses and other current liabilities |
5,556
|
(41,086)
|
| Other noncurrent liabilities |
(2,006)
|
11,252
|
| Net cash provided by operating activities |
340,628
|
349,587
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(290,560)
|
(342,429)
|
| Purchase of intangible assets |
(38,608)
|
(41,516)
|
| Other acquisitions, net of cash acquired |
(288,957)
|
(58,185)
|
| Proceeds from disposal of property and equipment |
11,444
|
11,531
|
| Net cash used in investing activities |
(2,806,681)
|
(2,172,454)
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of long-term debt |
2,835,000
|
1,400,000
|
| Payments on long-term debt |
(799,055)
|
(240,388)
|
| Revolver, borrowings |
2,200,460
|
959,668
|
| Revolver, repayments |
(1,692,224)
|
(513,046)
|
| Debt issuance costs |
(30,124)
|
(21,437)
|
| Advances from affiliates |
230,432
|
214,968
|
| Equity issued to ETE, net of issuance costs |
60,944
|
0
|
| Proceeds from issuance of common units, net of offering costs |
0
|
213,139
|
| Distributions to Parent |
(50,000)
|
(204,182)
|
| Other cash from financing activities, net |
4,453
|
(14)
|
| Distributions to unitholders |
(285,895)
|
(64,798)
|
| Net cash provided by financing activities |
2,473,991
|
1,743,910
|
| Net increase (decrease) in cash |
7,938
|
(78,957)
|
| Cash and cash equivalents at beginning of period |
72,627
|
136,581
|
| Cash and cash equivalents at end of period |
80,565
|
57,624
|
| Sunoco LLC and Sunoco Retail LLC [Member] |
|
|
| Cash flows from investing activities: |
|
|
| Acquisition of business |
(2,200,000)
|
(775,000)
|
| Susser [Member] |
|
|
| Cash flows from investing activities: |
|
|
| Acquisition of business |
$ 0
|
$ (966,855)
|