Enterprise Products Partners L.P.

SEC Filings

10-Q
GULFTERRA ENERGY PARTNERS L P filed this Form 10-Q on 11/12/1996
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 nine months ended
                                                                            September 30,         
                                                                    ------------------------------
                                                                        1996             1995     
                                                                    -------------    -------------
<S>                                                                 <C>              <C>
Cash flows from operating activities:
   Net income                                                       $      30,079    $      18,317
   Adjustments to reconcile net income to net cash
     provided by operating activities:
      Amortization of debt issue costs                                        618              359
      Depreciation, depletion and amortization                             19,919            5,797
      Minority interest in income                                             335              193
      Equity in earnings                                                  (14,591)         (15,580)
      Distributions from equity investments                                19,248           16,867
      Gain on sale of asset                                                   --            (1,247)
      Deferred income taxes                                                  (583)            (210)
      Other noncash items                                                  (5,494)             120
      Changes in operating working capital (net of effect of
        conveyance):
         Decrease in short-term investments                                   --             2,000
         Increase in accounts receivable                                   (6,154)          (2,792)
         Increase in accounts receivable from affiliates                   (1,637)          (1,162)
         Decrease (increase) in other current assets                           54             (131)
         (Decrease) increase in accounts payable and accrued
           liabilities                                                    (11,312)          15,685
         Increase in payable to affiliates                                    125               22
                                                                    -------------    -------------
             Net cash provided by operating activities                     30,607           38,238
                                                                    -------------    -------------

Cash flows from investing activities:
   Additions to pipelines, platforms and facilities                       (25,095)         (83,618)
   Equity investments                                                     (11,245)          (4,936)
   Acquisition and development of oil and gas properties                  (49,633)         (33,175)
   Proceeds from sale of asset                                                --             1,250
                                                                    -------------    -------------
             Net cash used in investing activities                        (85,973)        (120,479)
                                                                    -------------    ------------- 

Cash flows from financing activities:
   Increase in restricted cash                                                (91)            (143)
   Debt issue costs                                                        (1,718)          (2,732)
   Proceeds from note payable                                              75,220           96,000
   Distributions to partners                                              (24,338)         (22,378)
                                                                    -------------    ------------- 
             Net cash provided by financing activities                     49,073           70,747
                                                                    -------------    -------------

Decrease in cash and cash equivalents                                      (6,293)         (11,494)
Cash and cash equivalents at beginning of year                             15,506           17,422
                                                                    -------------    -------------
Cash and cash equivalents at end of period                          $       9,213    $       5,928
                                                                    =============    =============
Cash paid for interest, net of amounts capitalized                  $         162    $       1,636
Cash paid for income taxes                                          $          16    $          13

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

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