Supplemental Financial Statement Information

3 Months Ended

Mar. 31, 2018

Supplemental Financial Statement Information

Supplemental Financial Statement Information

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION

Following are the financial statements of the Parent Company, which are included to provide additional information with respect to the Parent Company’s financial position, results of operations and cash flows on a stand-alone basis:

BALANCE SHEETS

(unaudited)

	March 31, 2018			December 31, 2017
ASSETS
Current assets:
Cash and cash equivalents	$	1		$	1
Accounts receivable from related companies	103			65
Other current assets	1			1
Total current assets	105			67
Property, plant and equipment, net	27			27
Advances to and investments in unconsolidated affiliates	5,805			6,082
Goodwill	9			9
Other non-current assets, net	8			8
Total assets	$	5,954		$	6,193
LIABILITIES AND PARTNERS’ DEFICIT
Current liabilities:
Accounts payable to related companies	$	1		$	—
Interest payable	78			66
Accrued and other current liabilities	8			4
Total current liabilities	87			70
Long-term debt, less current maturities	6,386			6,700
Long-term notes payable – related companies	658			617
Other non-current liabilities	3			2
Commitments and contingencies
Partners’ deficit:
General Partner	(3		)	(3		)
Limited Partners:
Common Unitholders	(1,696		)	(1,643		)
Series A Convertible Preferred Units	519			450
Total partners’ deficit	(1,180		)	(1,196		)
Total liabilities and partners’ deficit	$	5,954		$	6,193

STATEMENTS OF OPERATIONS

(unaudited)

	Three Months Ended March 31,
	2018			2017
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	$	(2	)	$	(13	)
OTHER INCOME (EXPENSE):
Interest expense, net	(86		)	(83		)
Equity in earnings of unconsolidated affiliates	448			361
Losses on extinguishments of debt	—			(25		)
Other, net	3			(1		)
NET INCOME	363			239
General Partner’s interest in net income	1			1
Convertible Unitholders’ interest in income	21			6
Limited Partners’ interest in net income	$	341		$	232

STATEMENTS OF CASH FLOWS

(unaudited)

	Three Months Ended March 31,
	2018			2017
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES	$	241		$	251
CASH FLOWS FROM INVESTING ACTIVITIES
Contributions to unconsolidated affiliate	—			(860		)
Sunoco LP Series A Preferred Units redemption	300			—
Net cash provided by (used in) investing activities	300			(860		)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	54			2,017
Principal payments on debt	(370		)	(1,733		)
Proceeds from affiliate	41			43
Distributions to partners	(266		)	(251		)
Units issued for cash	—			568
Debt issuance costs	—			(34		)
Net cash provided by (used in) financing activities	(541		)	610
CHANGE IN CASH AND CASH EQUIVALENTS	—			1
CASH AND CASH EQUIVALENTS, beginning of period	1			2
CASH AND CASH EQUIVALENTS, end of period	$	1		$	3