Supplemental Guarantor Information (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Supplemental Guarantor Financial Information [Abstract] |
|
| Condensed Consolidating Balance Sheets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet |
December 31, 2017 |
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Restricted cash |
1,033 |
|
|
12 |
|
|
544 |
|
|
— |
|
|
1,589 |
|
Accounts and other receivables |
— |
|
|
2 |
|
|
189 |
|
|
— |
|
|
191 |
|
Accounts receivable—affiliate |
— |
|
|
36 |
|
|
163 |
|
|
(36 |
) |
|
163 |
|
Advances to affiliate |
— |
|
|
20 |
|
|
26 |
|
|
(10 |
) |
|
36 |
|
Inventory |
— |
|
|
10 |
|
|
85 |
|
|
— |
|
|
95 |
|
Other current assets |
8 |
|
|
3 |
|
|
54 |
|
|
— |
|
|
65 |
|
Other current assets—affiliate |
— |
|
|
— |
|
|
21 |
|
|
(21 |
) |
|
— |
|
Total current assets |
1,041 |
|
|
83 |
|
|
1,082 |
|
|
(67 |
) |
|
2,139 |
|
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
80 |
|
|
2,164 |
|
|
12,920 |
|
|
(25 |
) |
|
15,139 |
|
Debt issuance costs, net |
20 |
|
|
— |
|
|
18 |
|
|
— |
|
|
38 |
|
Non-current derivative assets |
14 |
|
|
— |
|
|
17 |
|
|
— |
|
|
31 |
|
Investments in subsidiaries |
2,076 |
|
|
(63 |
) |
|
— |
|
|
(2,013 |
) |
|
— |
|
Other non-current assets, net |
— |
|
|
37 |
|
|
169 |
|
|
— |
|
|
206 |
|
Total assets |
$ |
3,231 |
|
|
$ |
2,221 |
|
|
$ |
14,206 |
|
|
$ |
(2,105 |
) |
|
$ |
17,553 |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND PARTNERS’ EQUITY |
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
Accounts payable |
$ |
— |
|
|
$ |
4 |
|
|
$ |
8 |
|
|
$ |
— |
|
|
$ |
12 |
|
Accrued liabilities |
23 |
|
|
8 |
|
|
606 |
|
|
— |
|
|
637 |
|
Due to affiliates |
— |
|
|
47 |
|
|
66 |
|
|
(45 |
) |
|
68 |
|
Deferred revenue |
— |
|
|
27 |
|
|
84 |
|
|
— |
|
|
111 |
|
Deferred revenue—affiliate |
— |
|
|
22 |
|
|
— |
|
|
(21 |
) |
|
1 |
|
Other current liabilities—affiliate |
— |
|
|
1 |
|
|
— |
|
|
(1 |
) |
|
— |
|
Total current liabilities |
23 |
|
|
109 |
|
|
764 |
|
|
(67 |
) |
|
829 |
|
|
|
|
|
|
|
|
|
|
|
Long-term debt, net |
2,569 |
|
|
— |
|
|
13,477 |
|
|
— |
|
|
16,046 |
|
Non-current deferred revenue |
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
1 |
|
Non-current derivative liabilities |
— |
|
|
— |
|
|
3 |
|
|
— |
|
|
3 |
|
Other non-current liabilities |
— |
|
|
10 |
|
|
— |
|
|
— |
|
|
10 |
|
Other non-current liabilities—affiliate |
— |
|
|
25 |
|
|
— |
|
|
— |
|
|
25 |
|
|
|
|
|
|
|
|
|
|
|
Partners’ equity (deficit) |
639 |
|
|
2,076 |
|
|
(38 |
) |
|
(2,038 |
) |
|
639 |
|
Total liabilities and partners’ equity (deficit) |
$ |
3,231 |
|
|
$ |
2,221 |
|
|
$ |
14,206 |
|
|
$ |
(2,105 |
) |
|
$ |
17,553 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet |
December 31, 2016 |
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Restricted cash |
234 |
|
|
13 |
|
|
358 |
|
|
— |
|
|
605 |
|
Accounts and other receivables |
— |
|
|
— |
|
|
90 |
|
|
— |
|
|
90 |
|
Accounts receivable—affiliate |
— |
|
|
24 |
|
|
100 |
|
|
(25 |
) |
|
99 |
|
Advances to affiliate |
— |
|
|
12 |
|
|
26 |
|
|
— |
|
|
38 |
|
Inventory |
— |
|
|
8 |
|
|
89 |
|
|
— |
|
|
97 |
|
Other current assets |
— |
|
|
4 |
|
|
25 |
|
|
— |
|
|
29 |
|
Other current assets—affiliate |
— |
|
|
— |
|
|
10 |
|
|
(10 |
) |
|
— |
|
Total current assets |
234 |
|
|
61 |
|
|
698 |
|
|
(35 |
) |
|
958 |
|
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
79 |
|
|
2,219 |
|
|
11,875 |
|
|
(15 |
) |
|
14,158 |
|
Debt issuance costs, net |
63 |
|
|
— |
|
|
58 |
|
|
— |
|
|
121 |
|
Non-current derivative assets |
16 |
|
|
— |
|
|
67 |
|
|
— |
|
|
83 |
|
Investments in subsidiaries |
2,617 |
|
|
471 |
|
|
— |
|
|
(3,088 |
) |
|
— |
|
Other non-current assets, net |
— |
|
|
37 |
|
|
185 |
|
|
— |
|
|
222 |
|
Total assets |
$ |
3,009 |
|
|
$ |
2,788 |
|
|
$ |
12,883 |
|
|
$ |
(3,138 |
) |
|
$ |
15,542 |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND PARTNERS’ EQUITY |
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
Accounts payable |
$ |
1 |
|
|
$ |
3 |
|
|
$ |
23 |
|
|
$ |
— |
|
|
$ |
27 |
|
Accrued liabilities |
2 |
|
|
9 |
|
|
407 |
|
|
— |
|
|
418 |
|
Current debt |
— |
|
|
— |
|
|
224 |
|
|
— |
|
|
224 |
|
Due to affiliates |
— |
|
|
89 |
|
|
33 |
|
|
(23 |
) |
|
99 |
|
Deferred revenue |
— |
|
|
27 |
|
|
46 |
|
|
— |
|
|
73 |
|
Deferred revenue—affiliate |
— |
|
|
11 |
|
|
— |
|
|
(10 |
) |
|
1 |
|
Derivative liabilities |
3 |
|
|
— |
|
|
11 |
|
|
— |
|
|
14 |
|
Total current liabilities |
6 |
|
|
139 |
|
|
744 |
|
|
(33 |
) |
|
856 |
|
|
|
|
|
|
|
|
|
|
|
Long-term debt, net |
2,560 |
|
|
— |
|
|
11,649 |
|
|
— |
|
|
14,209 |
|
Non-current deferred revenue |
— |
|
|
5 |
|
|
— |
|
|
— |
|
|
5 |
|
Non-current derivative liabilities |
— |
|
|
— |
|
|
2 |
|
|
— |
|
|
2 |
|
Other non-current liabilities—affiliate |
— |
|
|
27 |
|
|
2 |
|
|
(2 |
) |
|
27 |
|
|
|
|
|
|
|
|
|
|
|
Partners’ equity |
443 |
|
|
2,617 |
|
|
486 |
|
|
(3,103 |
) |
|
443 |
|
Total liabilities and partners’ equity |
$ |
3,009 |
|
|
$ |
2,788 |
|
|
$ |
12,883 |
|
|
$ |
(3,138 |
) |
|
$ |
15,542 |
|
|
| Condensed Consolidating Statements of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Operations |
Year Ended December 31, 2017 |
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Revenues |
|
|
|
|
|
|
|
|
|
LNG revenues |
$ |
— |
|
|
$ |
— |
|
|
$ |
2,635 |
|
|
$ |
— |
|
|
$ |
2,635 |
|
LNG revenues—affiliate |
— |
|
|
— |
|
|
1,389 |
|
|
— |
|
|
1,389 |
|
Regasification revenues |
— |
|
|
260 |
|
|
— |
|
|
— |
|
|
260 |
|
Regasification revenues—affiliate |
— |
|
|
190 |
|
|
— |
|
|
(190 |
) |
|
— |
|
Other revenues |
— |
|
|
20 |
|
|
— |
|
|
— |
|
|
20 |
|
Other revenues—affiliate |
— |
|
|
218 |
|
|
— |
|
|
(218 |
) |
|
— |
|
Total revenues |
— |
|
|
688 |
|
|
4,024 |
|
|
(408 |
) |
|
4,304 |
|
|
|
|
|
|
|
|
|
|
|
Operating costs and expenses |
|
|
|
|
|
|
|
|
|
Cost of sales (excluding depreciation and amortization expense shown separately below) |
— |
|
|
1 |
|
|
2,317 |
|
|
2 |
|
|
2,320 |
|
Cost of sales—affiliate |
— |
|
|
— |
|
|
23 |
|
|
(23 |
) |
|
— |
|
Operating and maintenance expense |
4 |
|
|
45 |
|
|
243 |
|
|
— |
|
|
292 |
|
Operating and maintenance expense—affiliate |
6 |
|
|
137 |
|
|
329 |
|
|
(372 |
) |
|
100 |
|
Development expense |
— |
|
|
1 |
|
|
2 |
|
|
— |
|
|
3 |
|
General and administrative expense |
4 |
|
|
1 |
|
|
7 |
|
|
— |
|
|
12 |
|
General and administrative expense—affiliate |
11 |
|
|
15 |
|
|
58 |
|
|
(4 |
) |
|
80 |
|
Depreciation and amortization expense |
2 |
|
|
74 |
|
|
264 |
|
|
(1 |
) |
|
339 |
|
Other |
— |
|
|
2 |
|
|
— |
|
|
— |
|
|
2 |
|
Total operating costs and expenses |
27 |
|
|
276 |
|
|
3,243 |
|
|
(398 |
) |
|
3,148 |
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations |
(27 |
) |
|
412 |
|
|
781 |
|
|
(10 |
) |
|
1,156 |
|
|
|
|
|
|
|
|
|
|
|
Other income (expense) |
|
|
|
|
|
|
|
|
|
Interest expense, net of capitalized interest |
(111 |
) |
|
(9 |
) |
|
(494 |
) |
|
— |
|
|
(614 |
) |
Loss on early extinguishment of debt |
(25 |
) |
|
— |
|
|
(42 |
) |
|
— |
|
|
(67 |
) |
Derivative gain (loss), net |
6 |
|
|
— |
|
|
(2 |
) |
|
— |
|
|
4 |
|
Equity earnings of subsidiaries |
643 |
|
|
250 |
|
|
— |
|
|
(893 |
) |
|
— |
|
Other income |
4 |
|
|
— |
|
|
7 |
|
|
— |
|
|
11 |
|
Total other income (expense) |
517 |
|
|
241 |
|
|
(531 |
) |
|
(893 |
) |
|
(666 |
) |
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
490 |
|
|
$ |
653 |
|
|
$ |
250 |
|
|
$ |
(903 |
) |
|
$ |
490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Operations |
Year Ended December 31, 2016 |
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Revenues |
|
|
|
|
|
|
|
|
|
LNG revenues |
$ |
— |
|
|
$ |
— |
|
|
$ |
539 |
|
|
$ |
— |
|
|
$ |
539 |
|
LNG revenues—affiliate |
— |
|
|
— |
|
|
294 |
|
|
— |
|
|
294 |
|
Regasification revenues |
— |
|
|
259 |
|
|
— |
|
|
— |
|
|
259 |
|
Regasification revenues—affiliate |
— |
|
|
61 |
|
|
— |
|
|
(61 |
) |
|
— |
|
Other revenues |
— |
|
|
4 |
|
|
— |
|
|
— |
|
|
4 |
|
Other revenues—affiliate |
— |
|
|
163 |
|
|
— |
|
|
(159 |
) |
|
4 |
|
Total revenues |
— |
|
|
487 |
|
|
833 |
|
|
(220 |
) |
|
1,100 |
|
|
|
|
|
|
|
|
|
|
|
Operating costs and expenses |
|
|
|
|
|
|
|
|
|
Cost of sales (excluding depreciation and amortization expense shown separately below) |
— |
|
|
— |
|
|
416 |
|
|
(6 |
) |
|
410 |
|
Cost of sales—affiliate |
— |
|
|
— |
|
|
7 |
|
|
(5 |
) |
|
2 |
|
Operating and maintenance expense |
5 |
|
|
48 |
|
|
72 |
|
|
2 |
|
|
127 |
|
Operating and maintenance expense—affiliate |
— |
|
|
113 |
|
|
129 |
|
|
(190 |
) |
|
52 |
|
Development expense—affiliate |
— |
|
|
— |
|
|
1 |
|
|
(1 |
) |
|
— |
|
General and administrative expense |
4 |
|
|
2 |
|
|
7 |
|
|
— |
|
|
13 |
|
General and administrative expense—affiliate |
12 |
|
|
15 |
|
|
68 |
|
|
(5 |
) |
|
90 |
|
Depreciation and amortization expense |
1 |
|
|
72 |
|
|
83 |
|
|
— |
|
|
156 |
|
Total operating costs and expenses |
22 |
|
|
250 |
|
|
783 |
|
|
(205 |
) |
|
850 |
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations |
(22 |
) |
|
237 |
|
|
50 |
|
|
(15 |
) |
|
250 |
|
|
|
|
|
|
|
|
|
|
|
Other income (expense) |
|
|
|
|
|
|
|
|
|
Interest expense, net of capitalized interest |
(23 |
) |
|
(148 |
) |
|
(186 |
) |
|
— |
|
|
(357 |
) |
Loss on early extinguishment of debt |
— |
|
|
(20 |
) |
|
(52 |
) |
|
— |
|
|
(72 |
) |
Derivative gain (loss), net |
12 |
|
|
— |
|
|
(6 |
) |
|
— |
|
|
6 |
|
Equity losses of subsidiaries |
(138 |
) |
|
(193 |
) |
|
— |
|
|
331 |
|
|
— |
|
Other income |
— |
|
|
1 |
|
|
1 |
|
|
— |
|
|
2 |
|
Total other expense |
(149 |
) |
|
(360 |
) |
|
(243 |
) |
|
331 |
|
|
(421 |
) |
|
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(171 |
) |
|
$ |
(123 |
) |
|
$ |
(193 |
) |
|
$ |
316 |
|
|
$ |
(171 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Operations |
Year Ended December 31, 2015 |
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Revenues |
|
|
|
|
|
|
|
|
|
Regasification revenues |
$ |
— |
|
|
$ |
259 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
259 |
|
Other revenues |
— |
|
|
7 |
|
|
— |
|
|
— |
|
|
7 |
|
Other revenues—affiliate |
— |
|
|
108 |
|
|
— |
|
|
(104 |
) |
|
4 |
|
Total revenues |
— |
|
|
374 |
|
|
— |
|
|
(104 |
) |
|
270 |
|
|
|
|
|
|
|
|
|
|
|
Operating costs and expenses |
|
|
|
|
|
|
|
|
|
Cost (cost recovery) of sales (excluding depreciation and amortization expense shown separately below) |
— |
|
|
1 |
|
|
(32 |
) |
|
— |
|
|
(31 |
) |
Operating and maintenance expense |
3 |
|
|
36 |
|
|
23 |
|
|
— |
|
|
62 |
|
Operating and maintenance expense—affiliate |
— |
|
|
94 |
|
|
1 |
|
|
(66 |
) |
|
29 |
|
Development expense |
— |
|
|
— |
|
|
3 |
|
|
— |
|
|
3 |
|
Development expense—affiliate |
— |
|
|
1 |
|
|
1 |
|
|
(1 |
) |
|
1 |
|
General and administrative expense |
3 |
|
|
6 |
|
|
6 |
|
|
— |
|
|
15 |
|
General and administrative expense—affiliate |
11 |
|
|
60 |
|
|
88 |
|
|
(37 |
) |
|
122 |
|
Depreciation and amortization expense |
— |
|
|
64 |
|
|
2 |
|
|
— |
|
|
66 |
|
Total operating costs and expenses |
17 |
|
|
262 |
|
|
92 |
|
|
(104 |
) |
|
267 |
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations |
(17 |
) |
|
112 |
|
|
(92 |
) |
|
— |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
Other income (expense) |
|
|
|
|
|
|
|
|
|
Interest expense, net of capitalized interest |
— |
|
|
(175 |
) |
|
(36 |
) |
|
26 |
|
|
(185 |
) |
Loss on early extinguishment of debt |
— |
|
|
— |
|
|
(96 |
) |
|
— |
|
|
(96 |
) |
Derivative loss, net |
— |
|
|
— |
|
|
(42 |
) |
|
— |
|
|
(42 |
) |
Equity losses of subsidiaries |
(302 |
) |
|
(266 |
) |
|
— |
|
|
568 |
|
|
— |
|
Other income |
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
1 |
|
Total other expense |
(302 |
) |
|
(440 |
) |
|
(174 |
) |
|
594 |
|
|
(322 |
) |
|
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(319 |
) |
|
$ |
(328 |
) |
|
$ |
(266 |
) |
|
$ |
594 |
|
|
$ |
(319 |
) |
|
| Condensed Consolidating Statements of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows |
Year Ended December 31, 2017 |
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Cash flows provided by (used in) operating activities |
$ |
(101 |
) |
|
$ |
431 |
|
|
$ |
657 |
|
|
$ |
(10 |
) |
|
$ |
977 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
— |
|
|
(21 |
) |
|
(1,279 |
) |
|
10 |
|
|
(1,290 |
) |
Investments in subsidiaries |
(245 |
) |
|
(7 |
) |
|
— |
|
|
252 |
|
|
— |
|
Distributions received from affiliates, net |
1,431 |
|
|
782 |
|
|
— |
|
|
(2,213 |
) |
|
— |
|
Net cash provided by (used in) investing activities |
1,186 |
|
|
754 |
|
|
(1,279 |
) |
|
(1,951 |
) |
|
(1,290 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
|
Proceeds from issuances of debt |
1,500 |
|
|
— |
|
|
2,314 |
|
|
— |
|
|
3,814 |
|
Repayments of debt |
(1,470 |
) |
|
— |
|
|
(703 |
) |
|
— |
|
|
(2,173 |
) |
Debt issuance and deferred financing costs |
(22 |
) |
|
— |
|
|
(28 |
) |
|
— |
|
|
(50 |
) |
Distributions to parent |
— |
|
|
(1,431 |
) |
|
(782 |
) |
|
2,213 |
|
|
— |
|
Contributions from parent |
— |
|
|
245 |
|
|
7 |
|
|
(252 |
) |
|
— |
|
Distributions to owners |
(294 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(294 |
) |
Net cash provided by (used in) financing activities |
(286 |
) |
|
(1,186 |
) |
|
808 |
|
|
1,961 |
|
|
1,297 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
799 |
|
|
(1 |
) |
|
186 |
|
|
— |
|
|
984 |
|
Cash, cash equivalents and restricted cash—beginning of period |
234 |
|
|
13 |
|
|
358 |
|
|
— |
|
|
605 |
|
Cash, cash equivalents and restricted cash—end of period |
$ |
1,033 |
|
|
$ |
12 |
|
|
$ |
544 |
|
|
$ |
— |
|
|
$ |
1,589 |
|
Balances per Condensed Consolidating Balance Sheet:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Cash and cash equivalents |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Restricted cash |
1,033 |
|
|
12 |
|
|
544 |
|
|
— |
|
|
1,589 |
|
Total cash, cash equivalents and restricted cash |
$ |
1,033 |
|
|
$ |
12 |
|
|
$ |
544 |
|
|
$ |
— |
|
|
$ |
1,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows |
Year Ended December 31, 2016 |
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Cash flows provided by (used in) operating activities |
$ |
(53 |
) |
|
$ |
181 |
|
|
$ |
(130 |
) |
|
$ |
2 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
— |
|
|
(7 |
) |
|
(2,306 |
) |
|
(2 |
) |
|
(2,315 |
) |
Investments in subsidiaries |
(2,429 |
) |
|
(1 |
) |
|
— |
|
|
2,430 |
|
|
— |
|
Distributions received from affiliates, net |
218 |
|
|
— |
|
|
— |
|
|
(218 |
) |
|
— |
|
Other |
— |
|
|
(6 |
) |
|
(32 |
) |
|
— |
|
|
(38 |
) |
Net cash used in investing activities |
(2,211 |
) |
|
(14 |
) |
|
(2,338 |
) |
|
2,210 |
|
|
(2,353 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
|
Proceeds from issuances of debt |
2,560 |
|
|
— |
|
|
5,443 |
|
|
— |
|
|
8,003 |
|
Repayments of debt |
— |
|
|
(2,486 |
) |
|
(2,765 |
) |
|
— |
|
|
(5,251 |
) |
Debt issuance and deferred financing costs |
(73 |
) |
|
— |
|
|
(42 |
) |
|
— |
|
|
(115 |
) |
Debt extinguishment costs |
— |
|
|
(14 |
) |
|
— |
|
|
— |
|
|
(14 |
) |
Distributions to parent |
— |
|
|
(218 |
) |
|
— |
|
|
218 |
|
|
— |
|
Contributions from parent |
— |
|
|
2,429 |
|
|
1 |
|
|
(2,430 |
) |
|
— |
|
Distributions to owners |
(99 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(99 |
) |
Net cash provided by (used in) financing activities |
2,388 |
|
|
(289 |
) |
|
2,637 |
|
|
(2,212 |
) |
|
2,524 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
124 |
|
|
(122 |
) |
|
169 |
|
|
— |
|
|
171 |
|
Cash, cash equivalents and restricted cash—beginning of period |
110 |
|
|
135 |
|
|
189 |
|
|
— |
|
|
434 |
|
Cash, cash equivalents and restricted cash—end of period |
$ |
234 |
|
|
$ |
13 |
|
|
$ |
358 |
|
|
$ |
— |
|
|
$ |
605 |
|
Balances per Condensed Consolidating Balance Sheet:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016 |
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Cash and cash equivalents |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Restricted cash |
234 |
|
|
13 |
|
|
358 |
|
|
— |
|
|
605 |
|
Total cash, cash equivalents and restricted cash |
$ |
234 |
|
|
$ |
13 |
|
|
$ |
358 |
|
|
$ |
— |
|
|
$ |
605 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows |
Year Ended December 31, 2015 |
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
Parent Issuer |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Cash flows provided by (used in) operating activities |
$ |
(43 |
) |
|
$ |
53 |
|
|
$ |
(207 |
) |
|
$ |
26 |
|
|
$ |
(171 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
(1 |
) |
|
(25 |
) |
|
(2,861 |
) |
|
(26 |
) |
|
(2,913 |
) |
Investments in subsidiaries |
(53 |
) |
|
(15 |
) |
|
— |
|
|
68 |
|
|
— |
|
Distributions received from affiliates, net |
84 |
|
|
— |
|
|
— |
|
|
(84 |
) |
|
— |
|
Other |
— |
|
|
— |
|
|
(62 |
) |
|
— |
|
|
(62 |
) |
Net cash provided by (used in) investing activities |
30 |
|
|
(40 |
) |
|
(2,923 |
) |
|
(42 |
) |
|
(2,975 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
|
Proceeds from issuances of debt |
— |
|
|
— |
|
|
2,860 |
|
|
— |
|
|
2,860 |
|
Debt issuance and deferred financing costs |
— |
|
|
(1 |
) |
|
(169 |
) |
|
— |
|
|
(170 |
) |
Distributions to parent |
— |
|
|
(84 |
) |
|
— |
|
|
84 |
|
|
— |
|
Contributions from parent |
— |
|
|
53 |
|
|
15 |
|
|
(68 |
) |
|
— |
|
Distributions to owners |
(99 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(99 |
) |
Net cash provided by (used in) financing activities |
(99 |
) |
|
(32 |
) |
|
2,706 |
|
|
16 |
|
|
2,591 |
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash, cash equivalents and restricted cash |
(112 |
) |
|
(19 |
) |
|
(424 |
) |
|
— |
|
|
(555 |
) |
Cash, cash equivalents and restricted cash—beginning of period |
222 |
|
|
154 |
|
|
613 |
|
|
— |
|
|
989 |
|
Cash, cash equivalents and restricted cash—end of period |
$ |
110 |
|
|
$ |
135 |
|
|
$ |
189 |
|
|
$ |
— |
|
|
$ |
434 |
|
|