Enterprise Products Partners L.P.

SEC Filings

10-Q
GULFTERRA ENERGY PARTNERS L P filed this Form 10-Q on 08/09/2004
Entire Document
 
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                CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
                     FOR THE SIX MONTHS ENDED JUNE 30, 2003
 

<Table>
<Caption>
                                                         NON-GUARANTOR    GUARANTOR     CONSOLIDATING   CONSOLIDATED
                                              ISSUER     SUBSIDIARIES    SUBSIDIARIES   ELIMINATIONS       TOTAL
                                             ---------   -------------   ------------   -------------   ------------
                                                                  (IN THOUSANDS)
<S>                                          <C>         <C>             <C>            <C>             <C>
Cash flows from operating activities
  Net income...............................  $  91,512       $ 263        $ 124,134       $(124,397)     $  91,512
  Less cumulative effect of accounting
    change.................................         --          --            1,690              --          1,690
                                             ---------       -----        ---------       ---------      ---------
  Income before cumulative effect of
    accounting change......................     91,512         263          122,444        (124,397)        89,822
  Adjustments to reconcile net income to
    net cash provided by operating
    activities
    Depreciation, depletion and
      amortization.........................         74          21           48,448              --         48,543
    Distributed earnings of unconsolidated
      affiliates
      Earnings from unconsolidated
         affiliates........................         --          --           (6,303)             --         (6,303)
      Distributions from unconsolidated
         affiliates........................         --          --            8,230              --          8,230
    Loss on sale of long-lived assets......         --          --              257              --            257
    Loss due to write-off of unamortized
      debt issuance costs..................      3,762          --               --              --          3,762
    Amortization of debt issuance costs,
      premiums and discounts...............      3,694          --              322              --          4,016
    Other noncash items....................        592         310              439              --          1,341
  Working capital changes, net of
    acquisitions and noncash
    transactions...........................     15,333        (546)         (30,289)             --        (15,502)
                                             ---------       -----        ---------       ---------      ---------
         Net cash provided by operating
           activities......................    114,967          48          143,548        (124,397)       134,166
                                             ---------       -----        ---------       ---------      ---------
Cash flows from investing activities
  Additions to property, plant and
    equipment..............................       (584)        (19)        (206,408)             --       (207,011)
  Proceeds from sale and retirement of
    assets.................................         --          --            3,215              --          3,215
  Additions to investments in
    unconsolidated affiliates..............         --        (197)              --              --           (197)
                                             ---------       -----        ---------       ---------      ---------
         Net cash used in investing
           activities......................       (584)       (216)        (203,193)             --       (203,993)
                                             ---------       -----        ---------       ---------      ---------
Cash flows from financing activities
  Net proceeds from revolving credit
    facility...............................    223,000          --               --              --        223,000
  Repayments of revolving credit
    facility...............................   (298,854)         --               --              --       (298,854)
  Repayment of senior secured term loan....     (2,500)         --               --              --         (2,500)
  Repayment of senior secured acquisition
    term loan..............................   (237,500)         --               --              --       (237,500)
  Net proceeds from issuance of long-term
    debt...................................    292,479          --               --              --        292,479
  Net proceeds from issuance of common
    units and Series F convertible units...    182,182          --               --              --        182,182
  Advances with affiliates.................   (177,653)        168           53,088         124,397             --
  Distributions to partners................   (107,427)         --               --              --       (107,427)
  Contribution from general partner........          1          --               --              --              1
                                             ---------       -----        ---------       ---------      ---------
         Net cash provided by (used in)
           financing activities............   (126,272)        168           53,088         124,397         51,381
                                             ---------       -----        ---------       ---------      ---------
Decrease in cash and cash equivalents......  $ (11,889)      $  --        $  (6,557)      $      --        (18,446)
                                             =========       =====        =========       =========
  Cash and cash equivalents at beginning of
    period.................................                                                                 36,099
                                                                                                         ---------
  Cash and cash equivalents at end of
    period.................................                                                              $  17,653
                                                                                                         =========
Schedule of noncash financing activities:
  Redemption of Series B preference units
    contributed from our general partner...  $   1,788       $  --        $      --       $      --      $   1,788
                                             =========       =====        =========       =========      =========
</Table>

 
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