Enterprise Products Partners L.P.

SEC Filings

10-Q
GULFTERRA ENERGY PARTNERS L P filed this Form 10-Q on 05/15/1996
Entire Document
 
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             LEVIATHAN GAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
                 UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (In thousands)


<TABLE>
<CAPTION>
                                                                      For the three months ended
                                                                               March 31,
                                                                    -------------------------------
                                                                        1996              1995
                                                                    --------------   --------------
<S>                                                                 <C>              <C>
Cash flows from operating activities:
   Net income                                                       $      10,910    $       3,932
   Adjustments to reconcile net income to net cash
     used in operating activities:
      Amortization of debt issue costs                                        148               76
      Depreciation, depletion and amortization                              5,324            1,975
      Minority interest in income                                             135               41
      Equity in earnings                                                   (4,746)          (2,877)
      Distributions from equity investments                                 5,673            4,350
      Deferred income taxes                                                  (226)             (46)
      Other noncash deductions                                             (1,626)              45
      Changes in operating working capital (net of effect of
        conveyance):
        Increase in accounts receivable                                    (2,664)            (362)
        Increase in accounts receivable from affiliates                    (6,929)            (771)
        (Increase) decrease in other current assets                           (66)             496
        Decrease in accounts payable and accrued liabilities              (15,226)         (14,995)
        Increase (decrease) in payable to affiliates                        1,050           (1,083)
                                                                    -------------    -------------
          Net cash used in operating activities                            (8,243)          (9,219)
                                                                    -------------    -------------

Cash flows from investing activities:
   Additions to pipelines, platforms and facilities                        (7,156)         (10,950)
   Equity investments                                                      (9,897)          (2,909)
   Development of oil and gas properties                                  (14,287)             -
                                                                    -------------    -------------
          Net cash used in investing activities                           (31,340)         (13,859)
                                                                    -------------    -------------

Cash flows from financing activities:
   Increase in restricted cash                                                (31)             (57)
   Debt issue costs                                                        (1,546)          (2,144)
   Proceeds from note payable                                              39,720           22,500
   Distributions to partners                                               (7,459)          (7,459)
                                                                    -------------    -------------
          Net cash provided by financing activities                        30,684           12,840
                                                                    -------------    -------------
Decrease in cash and cash equivalents                                      (8,899)         (10,238)
Cash and cash equivalents at beginning of year                             15,506           17,422
                                                                    -------------    -------------
Cash and cash equivalents at end of period                          $       6,607    $       7,184
                                                                    =============    =============

Cash paid for interest, net of amounts capitalized                  $         -      $         237
Cash paid for income taxes                                          $         -      $          13
</TABLE>



    The accompanying notes are an integral part of this financial statement.




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