Midcoast Energy Partners LP (MEP) financial statements (2020 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
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments718 5
Cash and cash equivalents718 5
Receivables9131650
Inventory, net of allowances, customer advances and progress billings28328288
Inventory28328288
Derivative instruments and hedges, assets   10
Other current assets6111917819
Other undisclosed current assets36124322888
Total current assets:1413055971,061
Noncurrent Assets
Property, plant and equipment4,1154,2264,1604,082
Long-term investments and receivables361372381371
Long-term investments361372381371
Intangible assets, net (including goodwill)252273474482
Goodwill  227227
Intangible assets, net (excluding goodwill)252273248255
Derivative instruments and hedges   10
Other noncurrent assets489714241
Deferred tax assets, net   (11)
Other undisclosed noncurrent assets   1
Total noncurrent assets:4,7754,9695,1574,976
TOTAL ASSETS:4,9165,2745,7546,036
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities961172720
Accounts payable7393  
Taxes payable18202220
Interest and dividends payable555 
Debt   49
Derivative instruments and hedges, liabilities   21
Due to related parties354641534
Other undisclosed current liabilities171143488508
Total current liabilities:3023065561,132
Noncurrent Liabilities
Long-term debt and lease obligation819890760335
Long-term debt, excluding current maturities819890760335
Liabilities, other than long-term debt26465629
Deferred tax liabilities, net  1411
Accrued environmental loss contingencies  0 
Other liabilities26464217
Derivative instruments and hedges, liabilities   1
Other undisclosed noncurrent liabilities  (14)(12)
Total noncurrent liabilities:844936802352
Total liabilities:1,1461,2421,3581,484
Stockholders' equity
Stockholders' equity attributable to parent(0)(1)12(3)
Accumulated other comprehensive income (loss)(0)(1)12(3)
Stockholders' equity attributable to noncontrolling interest2,2992,4062,5292,983
Other undisclosed stockholders' equity1,4711,6281,8561,573
Total stockholders' equity:3,7704,0324,3974,553
TOTAL LIABILITIES AND EQUITY:4,9165,2745,7546,036

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

12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1,9662,8435,8947,654
Revenue, net1802,8435,89411,187
Cost of revenue
(Cost of Goods and Services Sold)
(1,659)(2,373)(5,157)(4,941)
Other undisclosed gross profit  11 
Gross profit:3074707482,713
Operating expenses(460)(752)(596)(5,529)
Other undisclosed operating income   2,881
Operating income (loss):(153)(283)15365
Nonoperating income (expense)72(0)13(1)
Investment income, nonoperating71   
Other nonoperating income (expense)1(0)(0)(1)
Interest and debt expense(33)(30)(17)(2)
Income (loss) from continuing operations before equity method investments, income taxes:(114)(312)14962
Income from equity method investments3029131
Other undisclosed loss from continuing operations before income taxes(71) (13) 
Income (loss) from continuing operations before income taxes:(155)(283)14963
Income tax expense(2)(1)(5)(8)
Income (loss) before gain (loss) on sale of properties:(157)(285)14455
Other undisclosed net loss   (1)
Net income (loss):(157)(285)14454
Net income (loss) attributable to noncontrolling interest57121(80)1
Net income (loss) available to common stockholders, diluted:(100)(164)6455

Comprehensive Income ($ in millions)

12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):(157)(285)14454
Other comprehensive income (loss)(0)(24)30(10)
Comprehensive income (loss):(157)(309)17544
Comprehensive income (loss), net of tax, attributable to noncontrolling interest58132(96)(1)
Other undisclosed comprehensive loss, net of tax, attributable to parent   (2)
Comprehensive income (loss), net of tax, attributable to parent:(99)(176)7941

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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