Midcoast Energy Partners LP (MEP) financial statements (2021 and earlier)

Company profile

Business Address 1100 LOUISIANA STREET
HOUSTON, TX 77002
State of Incorp. DE
Fiscal Year End December 31
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
Q4
9/30/2016
Q3
6/30/2016
Q2
3/31/2016
Q1
12/31/2015
Q4
9/30/2015
Q3
6/30/2015
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7 851181628
Cash and cash equivalents7 851181628
Receivables952101321
Inventory, net of allowances, customer advances and progress billings28634814328687
Inventory28634814328687
Other current assets616588100119137155
Other undisclosed current assets3642584312473120
Total current assets:141174204219305313390
Noncurrent Assets
Property, plant and equipment4,1154,1334,1574,2084,2264,2234,218
Long-term investments and receivables361360365368372374376
Long-term investments361360365368372374376
Intangible assets, net (including goodwill)252257261268273277281
Intangible assets, net (excluding goodwill)252257261268273277281
Other noncurrent assets4858618197107100
Total noncurrent assets:4,7754,8074,8444,9244,9694,9804,976
TOTAL ASSETS:4,9164,9825,0485,1435,2745,2935,365
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities968574721172924
Accounts payable7356515793  
Taxes payable18271914202719
Interest and dividends payable5251515
Due to related parties356154108463637
Other undisclosed current liabilities171135131106143287341
Total current liabilities:302280260286306351402
Noncurrent Liabilities
Long-term debt and lease obligation819849873838890820810
Long-term debt, excluding current maturities819849873838890820810
Liabilities, other than long-term debt26283040466452
Deferred tax liabilities, net     1411
Other liabilities26283040465041
Other undisclosed noncurrent liabilities     (14)(11)
Total noncurrent liabilities:844876903878936870851
Total liabilities:1,1461,1561,1631,1641,2421,2211,253
Stockholders' equity
Stockholders' equity attributable to parent(0)(1)(1)(1)(1)36
Accumulated other comprehensive income (loss)(0)(1)(1)(1)(1)36
Stockholders' equity attributable to noncontrolling interest2,2992,3172,3392,3792,4062,4212,439
Other undisclosed stockholders' equity1,4711,5101,5471,6001,6281,6481,668
Total stockholders' equity:3,7703,8263,8853,9784,0324,0724,112
TOTAL LIABILITIES AND EQUITY:4,9164,9825,0485,1435,2745,2935,365

Income statement (P&L) ($ in millions)

12/31/2016
Q4
9/30/2016
Q3
6/30/2016
Q2
3/31/2016
Q1
12/31/2015
Q4
9/30/2015
Q3
6/30/2015
Q2
Revenues621486428432528661780
Revenue, net414447383528661780
Cost of revenue
(Cost of Goods and Services Sold)
(548)(404)(359)(348)(395)(523)(671)
Other undisclosed gross profit    (5)01
Gross profit:73826984128138110
Operating expenses(106)(112)(129)(112)(127)(134)(368)
Operating income (loss):(33)(30)(61)(28)04(259)
Nonoperating income (expense)819180(21)96
Investment income, nonoperating71918    
Other nonoperating income (expense)10 0 (0)0
Interest and debt expense(8)(9)(8)(8)(8)(8)(7)
Income (loss) from continuing operations before equity method investments, income taxes:(33)(20)(51)(37)(28)5(260)
Income from equity method investments8877996
Other undisclosed income (loss) from continuing operations before income taxes(7)(19)(18) 21(9)(6)
Income (loss) from continuing operations before income taxes:(33)(30)(63)(29)15(260)
Income tax expense (benefit)0(1)(1)(1) (4)3
Net income (loss):(33)(31)(63)(30)11(257)
Net income (loss) attributable to noncontrolling interest10102610(5)(5)120
Net loss available to common stockholders, diluted:(22)(21)(37)(20)(4)(4)(137)

Comprehensive Income ($ in millions)

12/31/2016
Q4
9/30/2016
Q3
6/30/2016
Q2
3/31/2016
Q1
12/31/2015
Q4
9/30/2015
Q3
6/30/2015
Q2
Net income (loss):(33)(31)(63)(30)11(257)
Other comprehensive loss    (8)(5)(8)
Other undisclosed comprehensive loss(0)      
Comprehensive loss:(33)(31)(63)(30)(7)(4)(265)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest11102610(1)(2)124
Comprehensive loss, net of tax, attributable to parent:(22)(21)(37)(20)(8)(6)(141)

Statements sources

The financial statements are based on the company's filings with the 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.

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