Tesoro Logistics LP (Tables)

12 Months Ended

Dec. 31, 2011

The following table is a reconciliation of proceeds from the offering (in millions):



Reconciliation of Cash Proceeds
Total proceeds from the Offering	$	314
Less: Offering Costs, net of debt issuance costs	(26		)
Proceeds from the Offering, net of Offering Costs	288
Less: Debt issuance costs	(2		)
Net proceeds from the Offering	286
Less: Cash retained by TLLP	(3		)
Net proceeds distributed to Tesoro from the Offering	283
Add: Borrowings under the TLLP Revolving Credit Facility	50
Distribution to Tesoro	$	333

Subsidiary Balance Sheet [Table Text Block]

With the exception of affiliate balances which are eliminated in consolidation, the TLLP condensed consolidated balance sheets as of December 31, 2011 and December 31, 2010, as presented below, are included in the consolidated balance sheets of Tesoro Corporation.



	December 31, 2011		December 31, 2010
	(In millions)
ASSETS
Cash and cash equivalents	$	18	$	—
Receivables, less allowance for doubtful accounts
Trade	1		—
Affiliate	11		4
Other Current Assets	1		—
Net Property, Plant and Equipment	136		132
Other Noncurrent Assets	3		—
Total Assets	$	170	$	136

LIABILITIES AND EQUITY
Accounts payable
Trade	$	6	$	2
Affiliate	3		—
Deferred revenue - affiliate	1		—
Accrued liabilities	1		3
Other Noncurrent Liabilities	—		2
Debt	50		—
Equity	109		129
Total Liabilities and Equity	$	170	$	136