Sunoco 2014 Annual Report Download - page 41

39
Successor Predecessor
Year Ended December 31, Period from Acquisition,
October 5, 2012 to
December 31, 2012 (3)
Period from
January 1, 2012 to
October 4, 2012 (3)
Year Ended December 31,
2014 (1) 2013 (2) 2011 (4) 2010 (5)
(in millions) (in millions)
Cash Flow Data:
Net cash provided by
operating activities $ 566 $ 749 $ 280 $ 411 $ 430 $ 341
Net cash used in investing
activities $ (2,866) $ (957) $ (139) $ (224) $ (609) $ (426)
Net cash provided by (used
in) financing activities $ 2,362 $ 244 $ (140) $ (190) $ 182 $ 85
Capital expenditures:
Expansion (6) $ 2,346 $ 851 $ 118 $ 206 $ 171 $ 137
Maintenance (7) 70 46 21 29 42 37
Acquisitions 391 60 — — 396 252
Investments in joint
venture interests $ 42 $ — $ — $ — $ — $ —
Total capital expenditures $ 2,849 $ 957 $ 139 $ 235 $ 609 $ 426
(1) Cash flows related to expansion capital expenditures in 2014 included projects to: invest in the previously announced Mariner and
Allegheny Access projects; invest in our crude oil infrastructure by increasing our pipeline capabilities through previously
announced expansion capital projects in Texas and Oklahoma; expand the service capabilities of our refined products and NGLs
acquisition and marketing business; and upgrade the service capabilities at our bulk marine terminals. Cash flows related to
acquisitions in 2014 included $65 million related to a crude oil acquisition and marketing business and a controlling financial
interest in a related rail facility, and $325 million related to the acquisition of additional ownership interest in a consolidated
subsidiary.
(2) Cash flows related to expansion capital expenditures in 2013 included projects to: invest in our crude oil infrastructure by
increasing our pipeline capabilities through previously announced expansion capital projects in Texas and Oklahoma; expand upon
our refined products acquisition and marketing services; upgrade the service capabilities at the Eagle Point and Nederland
terminals; and invest in the previously announced Mariner and Allegheny Access projects. We also acquired the Marcus Hook
Industrial Complex from Sunoco for $60 million in 2013.
(3) Cash flows related to expansion capital expenditures for the periods from October 5, 2012 to December 31, 2012 and from
January 1, 2012 to October 4, 2012 included projects to expand upon our refined products acquisition and marketing services,
upgrade the service capabilities at the Eagle Point and Nederland terminals, invest in our crude oil infrastructure by increasing our
pipeline capabilities through previously announced growth projects in West Texas and expanding the crude oil trucking fleet, and to
invest in the Mariner pipeline projects.
(4) Expansion capital expenditures in 2011 included projects to expand upon our butane blending services, increase tankage at the
Nederland facility, increase connectivity of the crude oil pipeline assets in Texas and increase our crude oil trucking fleet to meet
the demand for transportation services in the southwest United States. Cash flows related to acquisitions in 2011 included $73
million related to the acquisition of the East Boston terminal, $222 million related to the acquisition of the Texon L.P. ("Texon")
crude oil purchasing and marketing business, $2 million related to the acquisition of the Eagle Point tank farm and $99 million
related to the acquisition of a controlling financial interest in Inland Corporation ("Inland").
(5) Expansion capital expenditures in 2010 included construction projects to expand services at our refined products terminals, increase
tankage at the Nederland Terminal and to expand upon our refined products platform in the southwest United States. Cash flows
related to acquisitions in 2010 included $152 million related to the acquisition of a butane blending business from Texon, $91
million related to the acquisition of additional ownership interests in Mid-Valley, West Texas Gulf and West Shore and $9 million
for the acquisition of two terminals in Texas.
(6) Expansion capital expenditures are capital expenditures made to acquire and integrate complimentary assets, to improve operational
efficiencies or reduce costs and to expand existing and construct new facilities, such as projects that increase storage or throughput
volume.
(7) Maintenance capital expenditures are capital expenditures required to maintain equipment reliability, tankage and pipeline integrity
and safety, and to address environmental regulations. We treat maintenance expenditures that do not extend the useful life of
existing assets as operating expenses as incurred.