Sunoco 2012 Annual Report Download - page 73

Download and view the complete annual report

Please find page 73 of the 2012 Sunoco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 185

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185

SUNOCO LOGISTICS PARTNERS L.P.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Successor Predecessor
Period from Acquisition
(October 5, 2012) to
December 31, 2012
Period from
January 1, 2012 to
October 4, 2012
Year Ended December 31,
2011 2010
Cash Flows from Operating Activities:
Net Income .................................... $142 $389 $322 $348
Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation and amortization expense .......... 63 76 86 64
Impairment charge and related matters ........... — (1) 42 3
(Claim for) recovery of environmental liability .... 13 (14) — —
Deferred income tax expense .................. (2) — (2) —
Amortization of financing fees and bond
discount ................................. — 2 2 2
Amortization of bond premium ................. (6) — — —
Restricted unit incentive plan expense ........... 2 6 6 5
Gain on investments in affiliates ................ — — — (128)
Changes in working capital pertaining to operating
activities:
Accounts receivable, affiliated companies .... (18) (1) 154 (106)
Accounts receivable, net .................. 162 190 (647) (248)
Inventories ............................. (70) (44) (108) 38
Accounts payable and accrued liabilities ..... 4 (174) 548 360
Accounts payable, affiliated companies ...... 12 — — —
Accrued taxes payable .................... 4 (6) 18 11
Other ..................................... (26) (12) 9 (8)
Net cash provided by operating activities ................. 280 411 430 341
Cash Flows from Investing Activities:
Capital expenditures ............................. (139) (235) (213) (174)
Acquisitions .................................... — — (396) (252)
Proceeds from divestments and related matters ........ — 11 — —
Net cash used in investing activities ..................... (139) (224) (609) (426)
Cash Flows from Financing Activities:
Distributions paid to limited and general partners ...... (74) (178) (210) (189)
Distributions paid to noncontrolling interests .......... (2) (5) (8) (4)
Net proceeds from issuance of limited partner units ..... — — — 143
Contributions from general partner .................. — — 2 3
Payments of statutory withholding on net issuance of
limited partner units under restricted unit incentive
plan ........................................ (7) (5) (3) (2)
Repayments under credit facilities .................. (233) (322) (560) (888)
Borrowings under credit facilities ................... 193 501 529 650
Net proceeds from issuance of long-term debt ......... — — 595 494
Repayments of senior notes ........................ — (250) — —
Promissory note from affiliate ...................... — — (100) 100
Repayment of promissory note to general partner ...... — — — (201)
Advances to affiliated companies, net ................ (17) 69 (63) (21)
Net cash provided by (used in) financing activities ......... (140) (190) 182 85
Net change in cash and cash equivalents ................. 1 (3) 3 —
Cash and cash equivalents at beginning of period .......... 2 5 2 2
Cash and cash equivalents at end of period ................ $ 3 $ 2 $ 5 $ 2
(See Accompanying Notes)
71