Midcoast Energy Partners LP (MEP) Financial Statements (2023 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)Annual | Quarterly
| 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 investments | 7 | 8 | 51 | 18 | 16 | 28 | |||
| Cash and cash equivalents | 7 | 8 | 51 | 18 | 16 | 28 | |||
| Receivables | 9 | 5 | 2 | 10 | 13 | 2 | 1 | ||
| Inventory, net of allowances, customer advances and progress billings | 28 | 63 | 48 | 14 | 32 | 86 | 87 | ||
| Inventory | 28 | 63 | 48 | 14 | 32 | 86 | 87 | ||
| Other current assets | 61 | 65 | 88 | 100 | 119 | 137 | 155 | ||
| Other undisclosed current assets | 36 | 42 | 58 | 43 | 124 | 73 | 120 | ||
| Total current assets: | 141 | 174 | 204 | 219 | 305 | 313 | 390 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 4,115 | 4,133 | 4,157 | 4,208 | 4,226 | 4,223 | 4,218 | ||
| Long-term investments and receivables | 361 | 360 | 365 | 368 | 372 | 374 | 376 | ||
| Long-term investments | 361 | 360 | 365 | 368 | 372 | 374 | 376 | ||
| Intangible assets, net (including goodwill) | 252 | 257 | 261 | 268 | 273 | 277 | 281 | ||
| Intangible assets, net (excluding goodwill) | 252 | 257 | 261 | 268 | 273 | 277 | 281 | ||
| Other noncurrent assets | 48 | 58 | 61 | 81 | 97 | 107 | 100 | ||
| Total noncurrent assets: | 4,775 | 4,807 | 4,844 | 4,924 | 4,969 | 4,980 | 4,976 | ||
| TOTAL ASSETS: | 4,916 | 4,982 | 5,048 | 5,143 | 5,274 | 5,293 | 5,365 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 96 | 85 | 74 | 72 | 117 | 29 | 24 | ||
| Accounts payable | 73 | 56 | 51 | 57 | 93 | ||||
| Taxes payable | 18 | 27 | 19 | 14 | 20 | 27 | 19 | ||
| Interest and dividends payable | 5 | 2 | 5 | 1 | 5 | 1 | 5 | ||
| Due to related parties | 35 | 61 | 54 | 108 | 46 | 36 | 37 | ||
| Other undisclosed current liabilities | 171 | 135 | 131 | 106 | 143 | 287 | 341 | ||
| Total current liabilities: | 302 | 280 | 260 | 286 | 306 | 351 | 402 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 819 | 849 | 873 | 838 | 890 | 820 | 810 | ||
| Long-term debt, excluding current maturities | 819 | 849 | 873 | 838 | 890 | 820 | 810 | ||
| Liabilities, other than long-term debt | 26 | 28 | 30 | 40 | 46 | 64 | 52 | ||
| Deferred tax liabilities, net | 14 | 11 | |||||||
| Other liabilities | 26 | 28 | 30 | 40 | 46 | 50 | 41 | ||
| Other undisclosed noncurrent liabilities | (14) | (11) | |||||||
| Total noncurrent liabilities: | 844 | 876 | 903 | 878 | 936 | 870 | 851 | ||
| Total liabilities: | 1,146 | 1,156 | 1,163 | 1,164 | 1,242 | 1,221 | 1,253 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | (0) | (1) | (1) | (1) | (1) | 3 | 6 | ||
| Accumulated other comprehensive income (loss) | (0) | (1) | (1) | (1) | (1) | 3 | 6 | ||
| Stockholders' equity attributable to noncontrolling interest | 2,299 | 2,317 | 2,339 | 2,379 | 2,406 | 2,421 | 2,439 | ||
| Other undisclosed stockholders' equity | 1,471 | 1,510 | 1,547 | 1,600 | 1,628 | 1,648 | 1,668 | ||
| Total stockholders' equity: | 3,770 | 3,826 | 3,885 | 3,978 | 4,032 | 4,072 | 4,112 | ||
| TOTAL LIABILITIES AND EQUITY: | 4,916 | 4,982 | 5,048 | 5,143 | 5,274 | 5,293 | 5,365 | ||
Income Statement (P&L) ($ in millions) Annual | Quarterly
| 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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 621 | 486 | 428 | 432 | 528 | 661 | 780 | |
| Revenue, net | 41 | 44 | 47 | 383 | 528 | 661 | 780 | |
| Cost of revenue (Cost of Goods and Services Sold) | (548) | (404) | (359) | (348) | (395) | (523) | (671) | |
| Other undisclosed gross profit | (5) | 0 | 1 | |||||
| Gross profit: | 73 | 82 | 69 | 84 | 128 | 138 | 110 | |
| Operating expenses | (106) | (112) | (129) | (112) | (127) | (134) | (368) | |
| Operating income (loss): | (33) | (30) | (61) | (28) | 0 | 4 | (259) | |
| Nonoperating income (expense) | 8 | 19 | 18 | 0 | (21) | 9 | 6 | |
| Investment income, nonoperating | 7 | 19 | 18 | |||||
| Other nonoperating income (expense) | 1 | 0 | 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 investments | 8 | 8 | 7 | 7 | 9 | 9 | 6 | |
| 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) | 1 | 5 | (260) | |
| Income tax expense (benefit) | 0 | (1) | (1) | (1) | (4) | 3 | ||
| Net income (loss): | (33) | (31) | (63) | (30) | 1 | 1 | (257) | |
| Net income (loss) attributable to noncontrolling interest | 10 | 10 | 26 | 10 | (5) | (5) | 120 | |
| Net loss available to common stockholders, diluted: | (22) | (21) | (37) | (20) | (4) | (4) | (137) | |
Comprehensive Income ($ in millions)Annual | Quarterly
| 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) | 1 | 1 | (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 interest | 11 | 10 | 26 | 10 | (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 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.