HollyFrontier 2013 Annual Report Download - page 66
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58
HOLLYFRONTIER CORPORATION
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
December 31,
2013 2012
ASSETS
Current assets:
Cash and cash equivalents (HEP: $6,352 and $5,237, respectively) $ 940,103 $ 1,757,699
Marketable securities 725,160 630,586
Total cash, cash equivalents and short-term marketable securities 1,665,263 2,388,285
Accounts receivable: Product and transportation (HEP: $34,736 and $38,097, respectively) 665,098 587,728
Crude oil resales 43,704 46,502
708,802 634,230
Inventories: Crude oil and refined products 1,241,448 1,238,678
Materials, supplies and other (HEP: $1,591 and $1,259, respectively) 112,799 80,954
1,354,247 1,319,632
Income taxes receivable 109,376 74,957
Prepayments and other (HEP: $2,283 and $2,360, respectively) 58,756 53,161
Total current assets 3,896,444 4,470,265
Properties, plants and equipment, at cost (HEP: $1,199,594 and $1,155,710, respectively) 4,343,857 3,943,114
Less accumulated depreciation (HEP: $(194,619) and $(141,154), respectively) (949,261) (748,414)
3,394,596 3,194,700
Marketable securities (long-term) — 5,116
Other assets: Turnaround costs 258,436 151,764
Goodwill (HEP: $288,991 and $288,991, respectively) 2,331,922 2,338,302
Intangibles and other (HEP: $74,979 and $76,300, respectively) 175,341 168,850
2,765,699 2,658,916
Total assets $ 10,056,739 $ 10,328,997
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable (HEP: $22,898 and $12,030, respectively) $ 1,325,376 $ 1,314,151
Accrued liabilities (HEP: $28,668 and $23,705, respectively) 125,115 195,077
Deferred income tax liabilities 223,999 145,216
Total current liabilities 1,674,490 1,654,444
Long-term debt (HEP: $807,630 and $864,673, respectively) 997,519 1,336,238
Deferred income taxes (HEP: $5,287 and $4,951, respectively) 616,842 536,670
Other long-term liabilities (HEP: $35,918 and $28,683, respectively) 158,490 158,987
Equity:
HollyFrontier stockholders’ equity:
Preferred stock, $1.00 par value – 5,000,000 shares authorized; none issued — —
Common stock $.01 par value – 320,000,000 shares authorized; 255,962,866 shares issued as of
December 31, 2013 and December 31, 2012 2,560 2,560
Additional capital 3,990,630 3,911,353
Retained earnings 3,144,480 3,054,769
Accumulated other comprehensive income (loss) 822 (8,425)
Common stock held in treasury, at cost – 57,132,515 and 52,411,370 shares as of
December 31, 2013 and December 31, 2012, respectively (1,138,872) (907,303)
Total HollyFrontier stockholders’ equity 5,999,620 6,052,954
Noncontrolling interest 609,778 589,704
Total equity 6,609,398 6,642,658
Total liabilities and equity $ 10,056,739 $ 10,328,997
Parenthetical amounts represent asset and liability balances attributable to Holly Energy Partners, L.P. (“HEP”) as of December 31, 2013 and December 31,
2012. HEP is a consolidated variable interest entity.
See accompanying notes.
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