Midcoast Energy Partners LP (MEP) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1100 LOUISIANA STREET HOUSTON, TX 77002 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4923 - Natural Gas Transmission and Distribution (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 18 | 5 | ||||
| Cash and cash equivalents | 18 | 5 | ||||
| Receivables | 13 | 16 | 50 | |||
| Inventory, net of allowances, customer advances and progress billings | 32 | 82 | 88 | |||
| Inventory | 32 | 82 | 88 | |||
| Derivative instruments and hedges, assets | 10 | |||||
| Other current assets | 119 | 178 | 19 | |||
| Other undisclosed current assets | 124 | 322 | 888 | |||
| Total current assets: | 305 | 597 | 1,061 | |||
| Noncurrent Assets | ||||||
| Property, plant and equipment | 4,226 | 4,160 | 4,082 | |||
| Long-term investments and receivables | 372 | 381 | 371 | |||
| Long-term investments | 372 | 381 | 371 | |||
| Intangible assets, net (including goodwill) | 273 | 474 | 482 | |||
| Goodwill | 227 | 227 | ||||
| Intangible assets, net (excluding goodwill) | 273 | 248 | 255 | |||
| Derivative instruments and hedges | 10 | |||||
| Other noncurrent assets | 97 | 142 | 41 | |||
| Deferred tax assets, net | (11) | |||||
| Other undisclosed noncurrent assets | 1 | |||||
| Total noncurrent assets: | 4,969 | 5,157 | 4,976 | |||
| TOTAL ASSETS: | 5,274 | 5,754 | 6,036 | |||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 117 | 27 | 20 | |||
| Interest and dividends payable | 5 | 5 | ||||
| Taxes payable | 20 | 22 | 20 | |||
| Accounts payable | 93 | |||||
| Debt | 49 | |||||
| Derivative instruments and hedges, liabilities | 21 | |||||
| Due to related parties | 46 | 41 | 534 | |||
| Other undisclosed current liabilities | 143 | 488 | 508 | |||
| Total current liabilities: | 306 | 556 | 1,132 | |||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 890 | 760 | 335 | |||
| Long-term debt, excluding current maturities | 890 | 760 | 335 | |||
| Liabilities, other than long-term debt | 46 | 56 | 29 | |||
| Deferred tax liabilities, net | 14 | 11 | ||||
| Accrued environmental loss contingencies | 0 | |||||
| Other liabilities | 46 | 42 | 17 | |||
| Derivative instruments and hedges, liabilities | 1 | |||||
| Other undisclosed noncurrent liabilities | (14) | (12) | ||||
| Total noncurrent liabilities: | 936 | 802 | 352 | |||
| Total liabilities: | 1,242 | 1,358 | 1,484 | |||
| Equity | ||||||
| Equity, attributable to parent | (1) | 12 | (3) | |||
| Accumulated other comprehensive income (loss) | (1) | 12 | (3) | |||
| Equity, attributable to noncontrolling interest | 2,406 | 2,529 | 2,983 | |||
| Other undisclosed equity | 1,628 | 1,856 | 1,573 | |||
| Total equity: | 4,032 | 4,397 | 4,553 | |||
| TOTAL LIABILITIES AND EQUITY: | 5,274 | 5,754 | 6,036 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|
| Revenues | 2,843 | 5,894 | 7,654 | ||
| Revenue, net | 2,843 | 5,894 | 11,187 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (2,373) | (5,157) | (4,941) | ||
| Other undisclosed gross profit | 11 | ||||
| Gross profit: | 470 | 748 | 2,713 | ||
| Operating expenses | (752) | (596) | (5,529) | ||
| Other undisclosed operating income | 2,881 | ||||
| Operating income (loss): | (283) | 153 | 65 | ||
| Nonoperating income (expense) | (0) | 13 | (1) | ||
| Investment income, nonoperating | |||||
| Other nonoperating income (expense) | (0) | (0) | (1) | ||
| Interest and debt expense | (30) | (17) | (2) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (312) | 149 | 62 | ||
| Income from equity method investments | 29 | 13 | 1 | ||
| Other undisclosed loss from continuing operations before income taxes | (13) | ||||
| Income (loss) from continuing operations before income taxes: | (283) | 149 | 63 | ||
| Income tax expense | (1) | (5) | (8) | ||
| Income (loss) from continuing operations: | (285) | 144 | 55 | ||
| Income (loss) before gain (loss) on sale of properties: | (285) | 144 | 55 | ||
| Other undisclosed net loss | (1) | ||||
| Net income (loss): | (285) | 144 | 54 | ||
| Net income (loss) attributable to noncontrolling interest | 121 | (80) | 1 | ||
| Net income (loss) available to common stockholders, diluted: | (164) | 64 | 55 | ||
Comprehensive Income ($ in millions)
| 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|
| Net income (loss): | (285) | 144 | 54 | ||
| Other comprehensive income (loss) | (24) | 30 | (10) | ||
| Comprehensive income (loss): | (309) | 175 | 44 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 132 | (96) | (1) | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (2) | ||||
| Comprehensive income (loss), net of tax, attributable to parent: | (176) | 79 | 41 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.