SEMGROUP CORP, 10-Q filed on 8/9/2013
Quarterly Report
Document and Entity Information
6 Months Ended
Jun. 30, 2013
Jul. 31, 2013
Class A
Jul. 31, 2013
Class B
Document Type
10-Q 
 
 
Amendment Flag
false 
 
 
Document Period End Date
Jun. 30, 2013 
 
 
Document Fiscal Period Focus
Q2 
 
 
Document Fiscal Year Focus
2013 
 
 
Entity Registrant Name
SemGroup Corp 
 
 
Entity Central Index Key
0001489136 
 
 
Current Fiscal Year End Date
--12-31 
 
 
Entity Filer Category
Large Accelerated Filer 
 
 
Entity Common Stock, Shares Outstanding
 
42,021,494 
28,235 
Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Current assets:
 
 
Cash and cash equivalents
$ 298,766 
$ 80,029 
Restricted cash
34,332 
34,678 
Accounts receivable, net
347,677 
346,169 
Receivable from affiliates
8,594 
6,178 
Inventories
34,369 
34,433 
Other current assets
16,285 
18,516 
Total current assets
740,023 
520,003 
Property, plant and equipment, net
833,591 
814,724 
Equity method investments
466,239 
387,802 
Goodwill
9,916 
9,884 
Other intangible assets, net
6,811 
7,585 
Other noncurrent assets, net
40,071 
8,181 
Total assets
2,096,651 
1,748,179 
Current liabilities:
 
 
Accounts payable
252,972 
253,623 
Accrued liabilities
67,579 
63,831 
Payables to pre-petition creditors
32,367 
32,933 
Deferred revenue
17,736 
18,973 
Other current liabilities
7,745 
4,960 
Current portion of long-term debt
4,349 
24 
Total current liabilities
382,748 
374,344 
Long-term debt
466,549 
206,062 
Deferred income taxes
55,947 
65,620 
Other noncurrent liabilities
89,302 
80,625 
Commitments and contingencies (Note 9)
   
   
SemGroup owners' equity:
 
 
Common stock (Note 10)
425 
420 
Additional paid-in capital
1,114,388 
1,039,189 
Treasury stock, at cost (Note 10)
(613)
(242)
Accumulated deficit
(98,661)
(145,674)
Accumulated other comprehensive loss
(11,711)
(1,299)
Total SemGroup owners' equity
1,003,828 
892,394 
Noncontrolling interests in consolidated subsidiaries
98,277 
129,134 
Total owners' equity
1,102,105 
1,021,528 
Total liabilities and owners' equity
$ 2,096,651 
$ 1,748,179 
Condensed Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Statement of Financial Position [Abstract]
 
 
Allowance for doubtful accounts
$ 4,390 
$ 3,687 
Accumulated depreciation
151,298 
130,886 
Accumulated amortization
$ 7,549 
$ 6,701 
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:
 
 
 
 
Product
$ 241,253 
$ 237,571 
$ 476,882 
$ 499,206 
Service
31,678 
29,615 
59,335 
56,928 
Other
51,313 
64,591 
75,723 
87,674 
Total revenues
324,244 
331,777 
611,940 
643,808 
Expenses:
 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
212,709 
219,936 
425,078 
461,457 
Operating
69,682 
82,389 
110,453 
120,380 
General and administrative
16,898 
16,561 
33,935 
36,391 
Depreciation and amortization
12,814 
11,882 
25,450 
23,607 
(Gain) loss on disposal of long-lived assets, net
(376)
119 
(538)
119 
Total expenses
311,727 
330,887 
594,378 
641,954 
Earnings from equity method investments
14,861 
12,289 
32,206 
19,787 
Operating income
27,378 
13,179 
49,768 
21,641 
Other expenses (income):
 
 
 
 
Interest expense
4,495 
2,114 
6,891 
5,773 
Foreign currency transaction (gain) loss
(349)
(35)
(516)
2 
Other expense, net
6,467 
3,508 
32,100 
7,428 
Total other expenses, net
10,613 
5,587 
38,475 
13,203 
Income from continuing operations before income taxes
16,765 
7,592 
11,293 
8,438 
Income tax expense (benefit)
9,288 
(92)
(44,718)
(1,104)
Income from continuing operations
7,477 
7,684 
56,011 
9,542 
Income (loss) from discontinued operations, net of income taxes
35 
(441)
67 
(189)
Net income
7,512 
7,243 
56,078 
9,353 
Less: net income attributable to noncontrolling interests
3,943 
2,096 
9,065 
5,579 
Net income (loss) attributable to SemGroup
3,569 
5,147 
47,013 
3,774 
Other comprehensive income (loss), net of income taxes
(5,354)
(9,897)
(10,412)
2,858 
Comprehensive income (loss)
2,158 
(2,654)
45,666 
12,211 
Less: comprehensive income attributable to noncontrolling interests
3,943 
2,096 
9,065 
5,579 
Comprehensive income (loss) attributable to SemGroup
$ (1,785)
$ (4,750)
$ 36,601 
$ 6,632 
Net income per common share (Note 11):
 
 
 
 
Basic
$ 0.08 
$ 0.12 
$ 1.12 
$ 0.09 
Diluted
$ 0.08 
$ 0.12 
$ 1.11 
$ 0.09 
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:
 
 
Net income
$ 56,078 
$ 9,353 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
Net unrealized (gain) loss related to derivative instruments
(1,295)
122 
Depreciation and amortization
25,450 
23,935 
Gain (Loss) on Sale of Property Plant Equipment
515 
(119)
Gain on disposal of long-lived assets, net
(538)
119 
Earnings from equity method investments
(32,206)
(19,787)
Distributions from equity investments
29,798 
17,771 
Amortization and write down of debt issuance costs
1,060 
1,755 
Deferred tax benefit
(48,865)
(2,283)
Non-cash equity compensation
3,259 
3,223 
Loss on fair value of warrants
32,194 
7,539 
Provision for uncollectible accounts receivable, net of recoveries
323 
632 
Foreign Currency Transaction Gain (Loss), Unrealized
516 
(3)
Changes in operating assets and liabilities (Note 12)
(9,329)
(18,230)
Net cash provided by operating activities
55,436 
24,152 
Cash flows from investing activities:
 
 
Capital expenditures
(59,877)
(43,517)
Proceeds from sale of long-lived assets
544 
201 
Investments in non-consolidated subsidiaries
(81,611)
(3,447)
Distributions in excess of equity in earnings of affiliates
5,582 
4,969 
Net cash used in investing activities
(135,362)
(41,794)
Cash flows from financing activities:
 
 
Debt issuance costs
(10,263)
(132)
Borrowings on credit facilities
649,974 
165,500 
Principal payments on credit facilities and other obligations
(385,012)
(154,240)
Proceeds from issuance of Rose Rock Midstream, L.P. common units, net of offering costs
57,751 
0 
Distributions to noncontrolling interests
(7,496)
(3,077)
Proceeds from Warrant Exercises
224 
0 
Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation
(371)
(242)
Payments of Dividends
(7,939)
0 
Net cash provided by financing activities
296,868 
7,809 
Effect of exchange rate changes on cash and cash equivalents
1,795 
1,206 
Change in cash and cash equivalents
218,737 
(8,627)
Change in cash and cash equivalents included in discontinued operations
0 
214 
Change in cash and cash equivalents from continuing operations
218,737 
(8,413)
Cash and cash equivalents at beginning of period
80,029 
73,613 
Cash and cash equivalents at end of period
$ 298,766 
$ 65,200 
Overview
OVERVIEW
OVERVIEW
SemGroup Corporation is a Delaware corporation headquartered in Tulsa, Oklahoma. SemGroup Corporation is the successor entity of SemGroup, L.P., which was an Oklahoma limited partnership. The terms “we,” “our,” “us,” “SemGroup,” “the Company” and similar language used in these notes to the unaudited condensed consolidated financial statements refer to SemGroup Corporation, SemGroup, L.P., and their subsidiaries.
Basis of presentation
The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and the rules and regulations of the Securities and Exchange Commission. These financial statements include all normal and recurring adjustments that, in the opinion of management, are necessary to present fairly the financial position of the Company and the results of its operations and its cash flows.
The accompanying condensed consolidated financial statements are unaudited. The condensed consolidated balance sheet at December 31, 2012 is derived from audited financial statements.
Our condensed consolidated financial statements include the accounts of our controlled subsidiaries. All significant transactions between our consolidated subsidiaries have been eliminated.
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts and disclosures in the financial statements. Although management believes these estimates are reasonable, actual results could differ materially from these estimates. The results of operations for the three months and six months ended June 30, 2013, are not necessarily indicative of the results to be expected for the full year ending December 31, 2013.
Pursuant to the rules and regulations of the Securities and Exchange Commission, the accompanying condensed consolidated financial statements do not include all of the information and notes normally included with financial statements prepared in accordance with accounting principles generally accepted in the United States. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2012, which are included in our Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission.
Certain reclassifications have been made to conform previously reported balances to the current presentation, including the reclassification of prior periods to reflect the SemStream segment's Arizona operations as discontinued operations.
Our significant accounting policies are consistent with those described in our Annual Report on Form 10-K for the year ended December 31, 2012.
Recent accounting pronouncements
On January 31, 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2013-01, "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities," which clarifies the scope of the offsetting disclosure requirements in ASU 2011-11, "Disclosures About Offsetting Assets and Liabilities." Under ASU 2013-01, the disclosure requirements apply to derivative instruments accounted for in accordance with Accounting Standards Codification ("ASC") 815, "Derivatives and Hedging," including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending arrangements that are either offset on the balance sheet or subject to an enforceable master netting arrangement or similar agreement. ASU 2013-01 is effective for fiscal years beginning on or after January 1, 2013, and interim periods within those years. Retrospective application is required for all comparative periods presented. We adopted this guidance in the first quarter of 2013. The impact of adoption was not material.
On February 5, 2013, the FASB issued ASU 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." This ASU adds new disclosure requirements for items reclassified out of accumulated other comprehensive income ("AOCI"). The ASU is intended to help entities improve the transparency of changes in other comprehensive income ("OCI") and items reclassified out of AOCI in their financial statements. It does not amend any existing requirements for reporting net income or OCI in the financial statements. We adopted this guidance in the first quarter of 2013. The impact of adoption was not material.
On February 28, 2013, the FASB issued ASU 2013-04, "Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force)." The ASU requires entities to “measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, as the sum of the following:
•the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors; and
•any additional amount the reporting entity expects to pay on behalf of its co-obligors.”
Required disclosures include a description of the joint and several arrangement and the total outstanding amount of the obligation for all joint parties. The ASU permits entities to aggregate disclosures (as opposed to providing separate disclosures for each joint and several obligation). These disclosure requirements are incremental to the existing related-party disclosure requirements in ASC 850, "Related Party Disclosures." The ASU is effective for public entities for all prior periods in fiscal years beginning on or after December 15, 2013, and interim reporting periods within those years. The Company will adopt this guidance in the first quarter of 2014. The impact is not expected to be material.
On March 4, 2013, the FASB issued ASU 2013-05, "Parent's Accounting for the Cumulative Translation Adjustment Upon Derecognition of Certain Subsidiaries or Groups of Assets Within a Foreign Entity or of an Investment in a Foreign Entity - a consensus of the FASB Emerging Issues Task Force”, which indicates that the entire amount of a cumulative translation adjustment ("CTA") related to an entity's investment in a foreign entity should be released when there has been a:
•
sale of a subsidiary or group of net assets within a foreign entity and the sale represents the substantially complete liquidation of the investment in the foreign entity;
•
loss of a controlling financial interest in an investment in a foreign entity (i.e., the foreign entity is deconsolidated); or
•
step acquisition for a foreign entity (i.e., when an entity has changed from applying the equity method for an investment in a foreign entity to consolidating the foreign entity).
The ASU does not change the requirement to release a pro rata portion of the CTA of the foreign entity into earnings for a partial sale of an equity method investment in a foreign entity. For public entities, this ASU is effective for fiscal years beginning on or after December 15, 2013, and interim periods within those years. The Company will adopt this guidance in the first quarter of 2014. The impact is not expected to be material.
Rose Rock Midstream, L.P.
ROSE ROCK MIDSTREAM, L.P.
ROSE ROCK MIDSTREAM, L.P.
We control the operations of our consolidated subsidiary, Rose Rock Midstream, L.P. ("Rose Rock") through our ownership of the general partner interest. As of June 30, 2013, we own the 2% general partner interest and 58.2% of the limited partner interest made up of 2.9 million common units, 8.4 million subordinated units and 1.25 million Class A units.
On January 11, 2013, we contributed a 33% interest in SemCrude Pipeline, L.L.C. to Rose Rock in exchange for (i) cash of approximately $189.5 million, (ii) the issuance of 1.5 million common units, (iii) the issuance of 1.25 million Class A units and (iv) an increase of the capital account of the general partner of Rose Rock and a related issuance of general partner interest, to allow the general partner of Rose Rock to maintain its two percent general partner interest. SemCrude Pipeline, L.L.C. owns a 51% membership interest in White Cliffs Pipeline, L.L.C. ("White Cliffs"), which owns a 527-mile pipeline that transports crude oil from Platteville, Colorado to Cushing, Oklahoma (the "White Cliffs Pipeline"), giving Rose Rock an indirect 17% interest in White Cliffs.
The Class A units are not entitled to receive any distribution of available cash (other than upon liquidation) prior to the first day of the month immediately following the first month for which the average daily throughput volumes on the White Cliffs Pipeline for such month are 125,000 barrels per day or greater. Upon such date, the Class A units will automatically convert into common units.
As this transaction was between parties under common control, Rose Rock recorded its interest in SemCrude Pipeline, L.L.C. at SemGroup's historical value and as such no gain on the sale was recognized by SemGroup. Proceeds in excess of the historical value were accounted for as an equity transaction between Rose Rock and SemGroup and resulted in a $90.5 million reduction to noncontrolling interests in consolidated subsidiaries and an offsetting increase to additional paid-in capital of $56.8 million (net of tax impact of $33.7 million). This non-cash entry represents the portion of the proceeds in excess of historical cost which were attributed to Rose Rock's third-party unitholders.
In connection with this transaction, Rose Rock issued and sold 2.0 million common units to third-party purchasers in a private placement for aggregate consideration of $59.3 million. In addition, Rose Rock exercised the accordion feature of its revolving credit facility and increased the total borrowing capacity under the credit facility from $150 million to $385 million and made a borrowing of $133.5 million under the credit facility. The proceeds from the private placement and the borrowing were used by Rose Rock to fund the cash consideration in the transaction with us and to pay certain related transaction costs and expenses. Subsequent to the transaction, SemGroup owns 58.2% of the limited partner interest and the 2% general partner interest in Rose Rock.
SemGroup incurred $1.4 million of expense associated with the transaction including amounts expensed by Rose Rock. Rose Rock incurred $3.7 million of cost, of which $1.6 million of equity issuance costs were offset against proceeds, $1.6 million was related to the borrowing and was deferred, and $0.5 million was expensed.
Outside ownership interests in Rose Rock are reflected in “noncontrolling interests in consolidated subsidiaries” on our condensed consolidated balance sheets at June 30, 2013 and December 31, 2012. The portion of Rose Rock’s net income attributable to outside owners is reflected within “net income attributable to noncontrolling interests” in our condensed consolidated statements of operations and comprehensive income (loss) for the three months and six months ended June 30, 2013.
We receive distributions from Rose Rock on our common and subordinated units, our 2% general partner interest and incentive distribution rights. Rose Rock intends to pay a minimum quarterly distribution of $0.3625 per unit, to the extent it has sufficient available cash, as defined in Rose Rock’s partnership agreement. Rose Rock’s partnership agreement requires Rose Rock to distribute all of its available cash each quarter in the following manner:
 
Total Quarterly Distributions
Per Unit Target Amount
 
Marginal Percentage
Interest in Distributions
 
Unitholders
 
General
Partner
 
Incentive
Distribution
Rights
Minimum Quarterly Distributions
 
 
 
 
 
 
$
0.362500

 
98.0
%
 
2.0
%
 
—

First Target Distribution
above
 
$
0.362500

 
up to
 
$
0.416875

 
98.0
%
 
2.0
%
 
—

Second Target Distribution
above
 
$
0.416875

 
up to
 
$
0.453125

 
85.0
%
 
2.0
%
 
13.0
%
Third Target Distribution
above
 
$
0.453125

 
up to
 
$
0.543750

 
75.0
%
 
2.0
%
 
23.0
%
Thereafter
 
 
 
 
above
 
$
0.543750

 
50.0
%
 
2.0
%
 
48.0
%
 
The following table shows the distributions paid or declared for the six months ended June 30, 2013 and 2012 (in thousands, except for per unit amounts):
 
 
Record Date
Payment Date
Distribution
Per Unit
 
Distributions Paid/To Be Paid
Quarter Ended
 
SemGroup
Noncontrolling
Interest
Common Units
Total
Distributions
 
General
Partner
Incentive
Distributions
Common
Units
Subordinated
Units
December 31, 2011
*
February 3, 2012
February 13, 2012
$
0.0670

* 
$
23

$
—

$
93

$
561

$
470

$
1,147

March 31, 2012
 
May 7, 2012
May 15, 2012
$
0.3725

  
$
128

$
—

$
517

$
3,125

$
2,607

$
6,377

June 30, 2012
 
August 6, 2012
August 14, 2012
$
0.3825

 
$
131

$
—

$
532

$
3,209

$
2,678

$
6,550

December 31, 2012
 
February 4, 2013
February 14, 2013
$
0.4025

 
$
167

$
—

$
1,163

$
3,377

$
3,624

$
8,331

March 31, 2013
 
May 6, 2013
May 15, 2013
$
0.4300

 
$
179

$
41

$
1,242

$
3,607

$
3,872

$
8,941

June 30, 2013
**
August 5, 2013
August 14, 2013
$
0.4400

**
$
183

$
72

$
1,271

$
3,692

$
3,962

$
9,180

*Minimum quarterly distribution for quarter ended December 31, 2011 was prorated for the period beginning immediately after the closing of Rose Rock’s IPO, December 14, 2011 through December 31, 2011.
**Expected payment date and amounts for distributions related to the quarter ended June 30, 2013.

Certain summarized balance sheet information of Rose Rock is shown below (in thousands):
 
(unaudited)
 
 
 
June 30,
2013
 
December 31,
2012
Cash
$
3,650

 
$
108

Other current assets
247,195

 
250,509

Property, plant and equipment, net
296,084

 
291,530

Equity method investment
66,037

 
—

Other noncurrent assets, net
3,792

 
2,579

Total assets
$
616,758

 
$
544,726

Current liabilities
$
223,158

 
$
231,843

Long-term debt
166,549

 
4,562

Partners’ capital attributable to SemGroup
128,774

 
179,187

Partners’ capital attributable to noncontrolling interests
98,277

 
129,134

Total liabilities and partners’ capital
$
616,758

 
$
544,726


Certain summarized income statement information of Rose Rock for the three months and six months ended June 30, 2013 and 2012 is shown below (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Revenue
$
161,422

 
$
157,418

 
$
332,654

 
$
337,133

Cost of products sold
$
140,506

 
$
140,549

 
$
288,957

 
$
301,057

Operating, general and administrative expenses
$
9,061

 
$
8,267

 
$
18,040

 
$
16,197

Depreciation and amortization expense
$
3,690

 
$
2,999

 
$
7,197

 
$
5,966

Earnings from equity method investment
$
3,451

 
$
—

 
$
6,904

 
$
—

Net income
$
9,134

 
$
5,126

 
$
21,128

 
$
12,884

Investments in Non-Consolidated Subsidiaries
INVESTMENTS IN NON-CONSOLIDATED SUBSIDIARIES
INVESTMENTS IN NON-CONSOLIDATED SUBSIDIARIES

Our investments in affiliates over which we have significant influence, but for which we do not control the operating decisions of the investee, are accounted for under the equity method. Under the equity method, we do not report the individual assets and liabilities of our investees on our condensed consolidated balance sheets. Instead, our ownership interest is reflected in one line as a noncurrent asset on our condensed consolidated balance sheets. Our equity method investments consist of the following (in thousands):
 
June 30, 2013
 
December 31, 2012
White Cliffs
$
193,709

 
$
138,970

NGL Energy
176,816

 
174,398

Glass Mountain
95,714

 
74,434

Total equity method investments
$
466,239

 
$
387,802


    
Under the equity method, we do not report the individual revenues and expenses of our investees in our condensed consolidated statements of income. Instead, our interest in the earnings of our investees is reflected in one line item on our condensed consolidated statement of operations and comprehensive income (loss). Our earnings from equity method investments consist of the following (in thousands):
    
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
White Cliffs
$
10,661

 
$
8,461

 
$
21,100

 
$
15,032

NGL Energy
4,200

 
3,828

 
11,116

 
4,755

Glass Mountain
—

 
—

 
(10
)
 
—

Total earnings from equity method investments
$
14,861

 
$
12,289

 
$
32,206

 
$
19,787



Cash distributions received from equity methods investments consist of the following (in thousands):
    
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
White Cliffs
$
12,889

 
$
10,827

 
$
26,681

 
$
19,767

NGL Energy
4,426

 
1,812

 
8,698

 
2,972

Glass Mountain
—

 
—

 
—

 
—

Total cash distributions received from equity method investments
$
17,315

 
$
12,639

 
$
35,379

 
$
22,739



White Cliffs
We account for our 51% ownership of White Cliffs under the equity method, as the other owners have substantive rights to participate in its management.
In August 2012, the owners of White Cliffs approved an expansion project to construct a 12" pipeline from Platteville, Colorado to Cushing, Oklahoma. The project is expected to cost approximately $300 million, which will be funded by capital calls to owners. Our funding requirement will be 51% of the total cost. We have contributed approximately $61.9 million for project funding up through June 30, 2013, including $36.9 million and $59.6 million for the three months and six months ended June 30, 2013, respectively, and estimate our expected remaining contributions to be $59.7 million and $29.5 million for 2013 and 2014, respectively.
Certain summarized income statement information of White Cliffs for the three months and six months ended June 30, 2013 and 2012 is shown below (in thousands):
    
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Revenue
$
30,112

 
$
25,732

 
$
60,785

 
$
48,388

Operating, general and administrative expenses
$
4,113

 
$
3,640

 
$
9,292

 
$
7,525

Depreciation and amortization expense
$
4,715

 
$
4,986

 
$
9,430

 
$
9,969

Net income
$
21,284

 
$
17,106

 
$
42,063

 
$
30,894


The equity in earnings of White Cliffs for the three months and six months ended June 30, 2013 and 2012 reported in our condensed consolidated statement of operations and comprehensive income (loss) is less than 51% of the net income of White Cliffs for the same period. This is due to certain general and administrative expenses we incur in managing the operations of White Cliffs that the other owners are not obligated to share. Such expenses are recorded by White Cliffs and are allocated to our ownership interest. White Cliffs recorded $0.4 million and $0.5 million of such general and administrative expense for the three months ended June 30, 2013 and 2012, respectively, and $0.7 million and $1.5 million for the six months ended June 30, 2013 and 2012, respectively.
NGL Energy
We own 9,133,409 common units representing limited partner interests in NGL Energy Partners LP (NYSE: NGL) (“NGL Energy”), which represents approximately 17.0% of the total 53,622,659 limited partner units of NGL Energy outstanding at March 31, 2013, and a 6.42% interest in the general partner of NGL Energy.
At June 30, 2013, the fair market value of our 9,133,409 common unit investment in NGL Energy was $275.7 million, based on a June 28, 2013 closing price of $30.19 per common unit. This does not reflect our interest in the general partner of NGL Energy. The fair value of our limited partner investment in NGL Energy is categorized as a Level 1 measurement, as it is based on quoted market prices.
Our policy is to record our equity in earnings of NGL Energy on a one-quarter lag, as we do not expect information on the earnings of NGL Energy to always be available in time to consistently record the earnings in the quarter in which they are generated. Accordingly, the equity in earnings from NGL Energy which is reflected in our condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2013 and 2012 relates to the earnings of NGL Energy for the three and six months ended March 31, 2013 and 2012, prorated for the period of time we held our ownership interest in NGL Energy.
Certain unaudited summarized income statement information of NGL Energy for the three months and six months ended March 31, 2013 and 2012 is shown below (in thousands):
 
Three Months Ended March 31,
 
Six Months Ended March 31,
 
2013

2012
 
2013
 
2012
Revenue
$
1,617,613

 
$
438,938

 
$
2,955,821

 
$
909,587

Cost of products sold
$
1,481,890

 
$
389,806

 
$
2,686,435

 
$
829,596

Operating, general and administrative expenses
$
74,632

 
$
25,901

 
$
139,325

 
$
42,717

Depreciation and amortization expense
$
27,518

 
$
6,631

 
$
46,265

 
$
12,033

Net income
$
22,341

 
$
13,942

 
$
62,818

 
$
20,032

 
Glass Mountain Pipeline LLC
In May 2012, we formed a joint venture, Glass Mountain Pipeline, LLC (“Glass Mountain” or "GMP"), to construct, maintain and operate a 210-mile crude oil pipeline system originating in Alva and Arnett, Oklahoma and terminating at Cushing, Oklahoma. Construction of the pipeline is expected to be completed by the end of 2013. Once the pipeline is in service, it will be operated by a subsidiary of Rose Rock. Our original ownership interest in GMP was 25%. In September 2012, we acquired an additional 25% ownership interest in GMP bringing our total ownership interest to 50% . We account for our investment in GMP using the equity method. As of June 30, 2013, we have invested $95.7 million in GMP including our capital contributions, amounts paid to acquire the additional ownership percentage, and capitalized interest. We invested $7.9 million and $21.3 million in GMP for the three months and six months ended June 30, 2013, respectively. We expect to make additional contributions of approximately $27.6 million for the remainder of 2013 and $3.5 million in 2014.
Segments
SEGMENTS
4.
SEGMENTS
Our businesses are organized based on the nature and location of the services they provide. Certain summarized information related to our reportable segments is shown in the tables below. None of the operating segments have been aggregated, other than White Cliffs and Glass Mountain, which have been included within the Crude segment. Our investment in NGL Energy is included within the SemStream segment. Although “Corporate and Other” does not represent an operating segment, it is included in the tables below to reconcile segment information to that of the consolidated Company. Eliminations of transactions between segments are also included within “Corporate and Other” in the tables below.
The accounting policies of each segment are the same as the accounting policies of the consolidated Company. Transactions between segments are generally recorded based on prices negotiated between the segments. Certain general and administrative and interest expenses incurred at the corporate level are allocated to the segments, based on our allocation policies in effect at the time.

 
Three Months Ended June 30, 2013
 
Crude

SemStream

SemCAMS

SemGas

SemLogistics

SemMexico

Corporate
and Other

Consolidated
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
External
$
161,422

 
$
—

 
$
66,459

 
$
41,908

 
$
2,623

 
$
51,832

 
$
—

 
$
324,244

Intersegment
—

 
—

 
—

 
5,018

 
—

 
—

 
(5,018
)
 
—

Total revenues
161,422

 
—

 
66,459

 
46,926

 
2,623

 
51,832

 
(5,018
)
 
324,244

Expenses:
 
 
 
 

 

 
 
 

 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
140,506

 
—

 
1

 
33,567

 
—

 
43,653

 
(5,018
)
 
212,709

Operating
5,691

 
—

 
55,508

 
4,289

 
1,848

 
2,346

 
—

 
69,682

General and administrative
3,568

 
160

 
3,342

 
1,598

 
1,486

 
2,443

 
4,301

 
16,898

Depreciation and amortization
3,690

 
—

 
2,638

 
2,233

 
2,313

 
1,458

 
482

 
12,814

Gain on disposal of long-lived assets, net
(25
)
 
—

 
—

 
(4
)
 
—

 
(347
)
 
—

 
(376
)
Total expenses
153,430

 
160


61,489


41,683


5,647


49,553


(235
)

311,727

Earnings from equity method investments
10,661

 
4,200

 
—

 
—

 
—

 
—

 
—

 
14,861

Operating income (loss)
18,653

 
4,040

 
4,970

 
5,243

 
(3,024
)
 
2,279

 
(4,783
)

27,378

Other expenses (income), net
4,120

 
(1,193
)
 
4,748

 
676

 
357

 
153

 
1,752

 
10,613

Income (loss) from continuing operations before income taxes
$
14,533

 
$
5,233

 
$
222

 
$
4,567

 
$
(3,381
)
 
$
2,126

 
$
(6,535
)

$
16,765

Total assets at June 30, 2013 (excluding intersegment receivables)
$
867,993

 
$
176,816

 
$
298,793

 
$
156,724

 
$
160,490

 
$
100,910

 
$
334,925

 
$
2,096,651


For the three months ended June 30, 2013, two customers from our Crude segment accounted for 14% and 11% of our total consolidated revenue, respectively.

 
Three Months Ended June 30, 2012
 
Crude
 
SemStream
 
SemCAMS
 
SemGas
 
SemLogistics
 
SemMexico
 
Corporate
and Other
 
Consolidated
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
External
$
157,418

 
$
—

 
$
79,683

 
$
23,580

 
$
2,613

 
$
68,483

 
$
—

 
$
331,777

Intersegment
—

 
—

 
—

 
2,554

 
—

 
—

 
(2,554
)
 
—

Total revenues
157,418

 
—


79,683


26,134


2,613


68,483


(2,554
)
 
331,777

Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Costs of products sold, exclusive of depreciation and amortization shown below
140,549

 
3

 
71

 
19,990

 
99

 
61,778

 
(2,554
)
 
219,936

Operating
6,462

 
(21
)
 
68,848

 
3,306

 
1,631

 
2,163

 
—

 
82,389

General and administrative
2,063

 
(1
)
 
2,632

 
1,394

 
1,448

 
2,541

 
6,484

 
16,561

Depreciation and amortization
2,999

 
—

 
2,673

 
1,726

 
2,334

 
1,517

 
633

 
11,882

Loss on disposal of long-lived assets, net
56

 
—

 
—

 
—

 
—

 
63

 
—

 
119

Total expenses
152,129

 
(19
)

74,224


26,416


5,512


68,062


4,563

 
330,887

Earnings from equity method investments
8,461

 
3,828

 
—

 
—

 
—

 
—

 
—

 
12,289

Operating income (loss)
13,750

 
3,847


5,459


(282
)

(2,899
)

421


(7,117
)
 
13,179

Other expenses (income), net
(383
)
 
7

 
5,352

 
770

 
189

 
425

 
(773
)
 
5,587

Income (loss) from continuing operations before income taxes
$
14,133

 
$
3,840


$
107


$
(1,052
)

$
(3,088
)

$
(4
)

$
(6,344
)
 
$
7,592


 
Six Months Ended June 30, 2013
 
Crude
 
SemStream
 
SemCAMS
 
SemGas
 
SemLogistics
 
SemMexico
 
Corporate
and Other
 
Consolidated
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
External
$
332,654

 
$
—

 
$
102,240

 
$
76,562

 
$
5,658

 
$
94,826

 
$
—

 
$
611,940

Intersegment
—

 
—

 
—

 
9,103

 
—

 
—

 
(9,103
)
 
—

Total revenues
332,654

 
—

 
102,240

 
85,665

 
5,658

 
94,826

 
(9,103
)
 
611,940

Expenses:
 
 
 
 

 

 
 
 

 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
288,957

 
—

 
184

 
62,738

 
—

 
82,302

 
(9,103
)
 
425,078

Operating
11,429

 
1

 
82,392

 
8,433

 
3,687

 
4,511

 
—

 
110,453

General and administrative
7,418

 
316

 
7,487

 
3,189

 
2,606

 
4,665

 
8,254

 
33,935

Depreciation and amortization
7,197

 
—

 
5,294

 
4,361

 
4,653

 
2,938

 
1,007

 
25,450

(Gain) loss on disposal of long-lived assets, net
(25
)
 
6

 
—

 
(6
)
 
—

 
(513
)
 
—

 
(538
)
Total expenses
314,976

 
323

 
95,357

 
78,715

 
10,946

 
93,903

 
158

 
594,378

Earnings from equity method investments
21,090

 
11,116

 
—

 
—

 
—

 
—

 
—

 
32,206

Operating income (loss)
38,768

 
10,793

 
6,883

 
6,950

 
(5,288
)
 
923

 
(9,261
)
 
49,768

Other expenses (income), net
7,291

 
(2,161
)
 
9,459

 
1,269

 
1,113

 
(318
)
 
21,822

 
38,475

Income (loss) from continuing operations before income taxes
$
31,477

 
$
12,954

 
$
(2,576
)
 
$
5,681

 
$
(6,401
)
 
$
1,241

 
$
(31,083
)
 
$
11,293


For the six months ended June 30, 2013, one customer from our Crude segment accounted for 13% of our total consolidated revenue.
 
Six Months Ended June 30, 2012
 
Crude
 
SemStream
 
SemCAMS
 
SemGas
 
SemLogistics
 
SemMexico
 
Corporate
and Other
 
Consolidated
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
External
$
337,133

 
$
6

 
$
114,848

 
$
54,290

 
$
6,397

 
$
131,134

 
$
—

 
$
643,808

Intersegment
—

 
—

 
—

 
5,284

 
—

 
—

 
(5,284
)
 
—

Total revenues
337,133

 
6

 
114,848

 
59,574

 
6,397

 
131,134

 
(5,284
)
 
643,808

Expenses:
 
 
 
 

 

 
 
 

 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
301,057

 
37

 
190

 
46,539

 
99

 
118,819

 
(5,284
)
 
461,457

Operating
11,916

 
(27
)
 
95,084

 
6,159

 
3,085

 
4,163

 
—

 
120,380

General and administrative
4,781

 
50

 
7,050

 
3,237

 
3,259

 
5,229

 
12,785

 
36,391

Depreciation and amortization
5,966

 
—

 
5,246

 
3,356

 
4,652

 
3,078

 
1,309

 
23,607

Loss on disposal of long-lived assets, net
56

 
—

 
—

 
—

 
—

 
63

 
—

 
119

Total expenses
323,776

 
60

 
107,570

 
59,291

 
11,095

 
131,352

 
8,810

 
641,954

Earnings from equity method investments
15,032

 
4,755

 
—

 
—

 
—

 
—

 
—

 
19,787

Operating income (loss)
28,389

 
4,701

 
7,278

 
283

 
(4,698
)
 
(218
)
 
(14,094
)
 
21,641

Other expenses (income), net
(620
)
 
45

 
10,555

 
1,302

 
1,468

 
315

 
138

 
13,203

Income (loss) from continuing operations before income taxes
$
29,009

 
$
4,656

 
$
(3,277
)
 
$
(1,019
)
 
$
(6,166
)
 
$
(533
)
 
$
(14,232
)
 
$
8,438


Segment information for the three months and the six months ended June 30, 2012 has been recast to reflect SemStream's Arizona residential business as a discontinued operation. As result, the total revenues and total expenses decreased from amounts previously reported by $2.4 million and $2.8 million for the three months ended June 30, 2012 and by $8.0 million and $8.2 million for the six months ended June 30, 2012, respectively. Operating income and income from continuing operations before income taxes reported above has increased from amounts previously reported by $0.4 million and $0.4 million for the three months ended June 30, 2012 and by $0.2 million and $0.2 million for the six months ended June 30, 2012, respectively.
Inventories
Inventories
INVENTORIES
Inventories consist of the following (in thousands):
 
June 30,
2013
 
December 31,
2012
Crude oil
$
21,740

 
$
24,840

Asphalt and other
12,629

 
9,593

Total inventories
$
34,369

 
$
34,433

Financial Instruments
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS
Fair value of financial instruments
We record certain financial assets and liabilities at fair value at each balance sheet date. The tables below summarize the balances of these assets and liabilities at June 30, 2013 and December 31, 2012 (in thousands):

 
June 30, 2013
 
December 31, 2012
 
Level 1
 
Netting*
 
Total
 
Level 1
 
Netting*
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
 
Commodity derivatives
$
315

 
$
(54
)
 
$
261

 
$
22

 
$
(22
)
 
$
—

Total assets
315

 
(54
)
 
261

 
22

 
(22
)
 
—

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Commodity derivatives
$
54

 
$
(54
)
 
$
—

 
$
1,056

 
$
(22
)
 
$
1,034

Warrants
41,810

 
—

 
41,810

 
32,858

 
—

 
32,858

Total liabilities
41,864

 
(54
)
 
41,810

 
33,914

 
(22
)
 
33,892

Net assets (liabilities) at fair value
$
(41,549
)
 
$
—

 
$
(41,549
)
 
$
(33,892
)
 
$
—

 
$
(33,892
)
*Relates primarily to exchange traded futures. Gain and loss positions on multiple contracts are settled net on a daily basis with the exchange.
“Level 1” measurements use as inputs unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. These include commodity futures contracts that are traded on an exchange. These also include common stock warrants (Note 10) which are traded on the New York Stock Exchange.
“Level 2” measurements use as inputs market observable and corroborated prices for similar commodity derivative contracts. Assets and liabilities classified as Level 2 include over-the-counter (“OTC”) traded forward contracts and swaps.
“Level 3” measurements use as inputs information from a pricing service and internal valuation models incorporating observable and unobservable market data. These may include commodity derivatives, such as forwards and swaps for which there is not a highly liquid market, and therefore are not included in Level 2.
Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the measurement requires judgment and may affect the valuation of assets and liabilities and their placement within the fair value levels. At June 30, 2013, all of our physical fixed price forward purchases and sales contracts were being accounted for as normal purchases and normal sales.
There were no financial assets or liabilities classified as Level 2 or Level 3 during the three months and six months ended June 30, 2013 and 2012, as such no rollforward of activity has been presented.
Commodity derivative contracts
Our consolidated results of operations and cash flows are impacted by changes in market prices for petroleum products. This exposure to commodity price risk is managed, in part, by entering into various commodity derivatives.
We seek to manage the price risk associated with our marketing operations by limiting our net open positions through (i) the concurrent purchase and sale of like quantities of petroleum products to create back-to-back transactions that are intended to lock in positive margins based on the timing, location or quality of the petroleum products purchased and delivered or (ii) derivative contracts. Our storage and transportation assets can also be used to mitigate location and time basis risk. All marketing activities are subject to our Comprehensive Risk Management Policy, which establishes limits in order to manage risk and mitigate financial exposure.
Our commodity derivatives can be comprised of swaps, future contracts and forward contracts of crude oil and natural gas liquids. These are defined as follows:
Swaps – OTC transactions where a floating price, basis or index is exchanged for a fixed (or a different floating) price, basis or index at a preset schedule in the future, according to an agreed-upon formula.
Futures contracts – Exchange traded contracts to buy or sell a commodity. These contracts are standardized by the exchange in terms of quality, quantity, delivery period and location for each commodity.
Forward contracts – OTC contracts to buy or sell a commodity at an agreed upon future date. The buyer and seller agree on specific terms (price, quantity, delivery period and location) and conditions at the inception of the contract.
The following table sets forth the unaudited notional quantities for commodity derivative instruments entered into (in thousands of barrels):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Sales
720

 
300

 
1,330

 
683

Purchases
615

 
235

 
1,290

 
686


We have not designated any of our commodity derivative instruments as accounting hedges. We record the fair value of our commodity derivative instruments on our condensed consolidated balance sheets in other current assets and other current liabilities in the following amounts (in thousands):
 
June 30, 2013
 
December 31, 2012
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Commodity contracts
$
261

 
$
—

 
$
—

 
$
1,034


We have posted margin deposits as collateral with brokers who have the right of set off associated with these funds. Margin deposits outstanding for the periods ended June 30, 2013 and December 31, 2012 were $0.9 million and $1.9 million, respectively. These margin deposits have not been offset against our net commodity derivative instrument (contract) positions. Had these margin deposits been netted against (or combined with) our net commodity derivative instrument (contract) positions for the periods ended June 30, 2013 and December 31, 2012, we would have had net asset positions of $1.1 million and $0.8 million, respectively.
Realized and unrealized gains (losses) from our commodity derivatives were recorded to product revenue in the following amounts (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Commodity contracts
$
(233
)
 
$
1,415

 
$
(777
)
 
$
289


Warrants
As described in Note 10, upon emergence from bankruptcy, we issued certain common stock warrants. These warrants are recorded at fair value in other noncurrent liabilities on the condensed consolidated balance sheets, with changes in the fair value recorded to other expense (income).
Income Taxes
INCOME TAXES
INCOME TAXES
Due to our emergence from bankruptcy and overall restructuring, we recorded a full valuation allowance on all U.S. federal and state deferred tax assets in all periods prior to March 31, 2013. Deferred tax assets are reduced by a valuation allowance when a determination is made that it is more likely than not that some, or all, of the deferred tax assets will not be realized based on the weight of all available evidence. Evidence which is objectively verifiable carries a higher weight in the analysis. The ultimate realization of deferred tax assets is dependent upon the existence of sufficient taxable income of the appropriate character within the carryback and carryforward period available under the tax law. Sources of taxable income include future reversals of existing taxable temporary differences, future earnings and available tax planning strategies.

The six months ended June 30, 2013 includes a discrete tax benefit of $50.9 million for the partial release of our valuation allowance. The tax benefit was recorded for the three months ended March 31, 2013. Gain recognition, for tax purposes, on the contribution of a 33% interest in SemCrude Pipeline, L.L.C. to Rose Rock, as disclosed in Note 2, had a material impact to the available positive and objectively verifiable evidence for that quarter and, combined with other factors, resulted in the change in our assessment of recoverability of the deferred tax assets. Under ASC 740, "Income Taxes", such evidence was not considered in the valuation allowance at December 31, 2012, due to fundamentals of the transaction which remained subject to market influence until closed. We did not release the valuation allowance attributable to a small portion of our state net operating loss carryovers which have shorter carryover periods. We have not released the valuation allowance on the foreign tax credits due to the foreign tax credit limitation and the relative subjectivity of forecasts of the relational magnitude of U.S. and foreign taxable income in future periods, as well as the shorter carryover period available for the credits.

We have determined that no accruals related to uncertainty in tax positions are required. All income tax years of the Company ending after the emergence from bankruptcy remain open for examination in all jurisdictions. In foreign jurisdictions, all tax years within the relevant statute of limitations for periods prior to the emergence from bankruptcy remain open for examination. Currently, there are no examinations in progress for our federal or state jurisdictions. Canada Revenue Agency has initiated an income tax audit of SemCAMS ULC for the tax year 2009, which remains in progress. We do not anticipate the SemCAMS ULC audit will have a significant impact on the results of operations or financial position. No other foreign jurisdictions are currently under audit.

The effective tax rate was 55% and (1)% for the three months ended June 30, 2013 and 2012, respectively, and (396)% and (13)% for the six months ended June 30, 2013 and 2012, respectively. Significant items that impacted the effective tax rate for each period, as compared to the U.S. federal statutory rate of 35%, include earnings in foreign jurisdictions taxed at lower rates, a noncontrolling interest in Rose Rock for which taxes are not provided, warrant expense which is not deductible for tax purposes, and the impact of the valuation allowance or release recorded against our deferred tax assets. Further, the foreign earnings are taxed in foreign jurisdictions as well as in the U.S., since they are disregarded entities for U.S. federal income tax purposes. Deferred tax liabilities, with the exception of those related to certain long-lived assets, have been considered as a source of future taxable income in establishing the amount of the valuation allowance. These combined factors, and the magnitude of permanent items impacting the tax rate relative to income from continuing operations before income taxes, result in rates that are not comparable between the periods.
Long-Term Debt
Long-Term Debt
LONG-TERM DEBT
Our long-term debt consisted of the following (in thousands):
 
June 30,
2013
 
December 31,
2012
SemGroup 7.50% senior unsecured notes
$
300,000

 
$
—

SemGroup corporate revolving credit facility
—

 
201,500

Rose Rock credit facility
166,500

 
4,500

SemMexico credit facility
4,323

 
—

Capital leases
75

 
86

Total long-term debt
$
470,898

 
$
206,086

less: current portion of long-term debt
4,349

 
24

Noncurrent portion of long-term debt
$
466,549

 
$
206,062


SemGroup senior unsecured notes
On June 14, 2013, we completed an offering of $300 million of 7.50% senior unsecured notes due 2021 (the “Notes”) to certain initial purchasers for resale to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S of the Securities Act. The Notes are guaranteed by certain of our subsidiaries: SemGas, L.P., SemCanada, L.P., SemCanada II, L.P., SemMaterials, L.P., SemStream, L.P., SemGroup Europe Holding, L.L.C., SemOperating G.P., L.L.C., SemMexico, L.L.C., SemDevelopment, L.L.C., Rose Rock Midstream Holdings, LLC, Wattenberg Holding, LLC and Glass Mountain Holding, LLC (collectively, the "Guarantors").
The net proceeds from the offering were $294.0 million, after deducting the initial purchasers' discount. We used the net proceeds from the offering to (i) fund a portion of our acquisition on August 1, 2013 of all the outstanding equity interests in Mid-America Midstream Gas Services, L.L.C., a subsidiary of Chesapeake Energy Corporation, and (ii) during the second quarter of 2013, repay amounts borrowed under our revolving credit facility.
The Notes are governed by an indenture between the Company and its subsidiary Guarantors and Wilmington Trust, N.A., as trustee (the “Indenture”). The Indenture includes customary covenants, including limitations on our ability to incur additional indebtedness or issue certain preferred shares; pay dividends and make certain distributions, investments and other restricted payments; create certain liens; sell assets; enter into transactions with affiliates; enter into sale and lease-back transactions; merge, consolidate, sell or otherwise dispose of all or substantially all of our assets; and designate our subsidiaries as unrestricted under the Indenture.
The Indenture includes customary events of default, including events of default relating to non-payment of principal and other amounts owing from time to time, failure to provide required reports, failure to comply with agreements in the indenture, cross payment-defaults to any material indebtedness, bankruptcy and insolvency events, certain unsatisfied judgments, and invalidation or cessation of the subsidiary guarantee of a significant subsidiary. A default would permit holders to declare the Notes and accrued interest due and payable.
The Notes are effectively subordinated in right of payment to any of our and the Guarantors' existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness and are structurally subordinated to the obligations of any subsidiary that is not a guarantor of the Notes.
The Company may issue additional Notes under the Indenture from time to time, subject to the terms of the Indenture.
Except as described below, the Notes are not redeemable at the Company's option prior to June 15, 2016. From and after June 15, 2016, the Company may redeem the Notes, in whole or in part, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if redeemed during the twelve-month period beginning on June 15 of each of the years indicated below:
Year
 
Percentage
2016
 
105.625%
2017
 
103.750%
2018
 
101.875%
2019 and thereafter
 
100.000%

Prior to June 15, 2016, the Company may, at its option, on one or more occasions, redeem up to 35% of the sum of the original aggregate principal amount of the Notes at a redemption price equal to 107.500% of the aggregate principal amount thereof, plus accrued and unpaid interest, with the net cash proceeds of one or more equity offerings of the Company, subject to certain conditions.
Prior to June 15, 2016, the Company may also redeem all or part of the Notes at a price equal to the principal plus a premium equal to the greater of 1% of the principal or the excess of the present value of the June 15, 2016 redemption price from the table above plus all required interest payments due through June 15, 2016, computed using a discount rate based on a published United States Treasury Rate plus 50 basis points, over the principal value of such Note.
In the event of a change of control, the Company is required to offer to repurchase the Notes at an amount equal to 101% of the principal plus accrued and unpaid interest.
The Notes are also subject to a Registration Rights Agreement which requires the Company to file a registration statement with the Securities and Exchange Commission ("SEC") and to use commercially reasonable efforts to cause the registration statement to be declared effective by the SEC so that holders of the Notes can exchange the Notes and related guarantees for registered notes (the "Exchange Notes") and guarantees that have substantially identical terms as the Notes and related guarantees. The guarantees of the Exchange Notes will be full and unconditional and will constitute the joint and several obligations of the Guarantors. Failure to meet the terms of the Registration Rights Agreement will require the Company to pay incremental interest of 0.25% per annum, increased by an additional 0.25% per annum for each 90-day period for which registration default continues (up to a maximum of 1.0% per annum).
Interest on the Notes is payable in arrears on June 15th and December 15th to holders of record on June 1st and December 1st each year until maturity. For the three and six months ended June 30, 2013, we incurred $1.1 million of interest expense related to the Notes, including the amortization of debt issuance costs. At June 30, 2013, we have $6.2 million of unamortized debt issuance costs related to the Notes included in other noncurrent assets on our condensed consolidated balance sheet.
At June 30, 2013, we were in compliance with the terms of the Notes.
SemGroup corporate credit agreement
Our revolving credit facility had a capacity of $500 million at June 30, 2013. This capacity may be used either for cash borrowings or letters of credit, although the maximum letter of credit capacity is $250 million. At June 30, 2013, we had no outstanding cash borrowings on this facility and outstanding letters of credit of $4.5 million.
At June 30, 2013, the commitment rate in effect on letters of credit was 2.5%. In addition, a fronting fee of 0.25% is charged on outstanding letters of credit. A commitment fee of 0.5% is charged on any unused capacity on the revolving credit facility.
At June 30, 2013, $5.2 million in capitalized loan fees, net of accumulated amortization, was recorded in other noncurrent assets, which is being amortized over the life of the facility.
We recorded interest expense related to the SemGroup revolving credit facility of $1.5 million and $1.6 million for the three months ended June 30, 2013 and 2012, respectively, including amortization of debt issuance costs. We recorded interest expense related to the SemGroup revolving credit facility of $2.8 million and $3.2 million for the six months ended June 30, 2013 and 2012, respectively, including amortization of debt issuance costs.
At June 30, 2013, we were in compliance with the terms of the credit agreement.
On April 22, 2013, the credit agreement was amended to (i) permit the increase of the facility by up to an additional $300 million subject to satisfaction of certain conditions, (ii) remove the restriction limiting unsecured senior or subordinated indebtedness to $200 million, while establishing certain requirements for obtaining unsecured senior or subordinated indebtedness of $200 million or more and (iii) establish less restrictive leverage covenants.
On May 3, 2013, we elected to increase the credit facility capacity by $200 million, for a total capacity of $500 million. The facility can be increased by an additional $100 million. In connection with the increase, we recorded $2.2 million of capitalized loan fees which are being amortized over the remaining life of the facility.
The credit agreement is guaranteed by all of our material domestic subsidiaries (except for SemCrude Pipeline, L.L.C. and Rose Rock Midstream, L.P. and its subsidiaries) and secured by a lien on substantially all of our property and assets, subject to customary exceptions.
Rose Rock credit facility
At June 30, 2013, there were $166.5 million revolving cash borrowings outstanding on this facility, of which $66.5 million incurred interest at the ABR plus an applicable margin, and $100 million incurred interest at the Eurodollar rate plus an applicable margin. The interest rate in effect at June 30, 2013 on $66.5 million of ABR borrowings was 5.25%. The interest rate in effect at June 30, 2013 on $100 million of Eurodollar rate borrowings was 3.20%.
We had $37.4 million in outstanding letters of credit, and the rate in effect was 3.00%. In addition, a fronting fee of 0.25% is charged on outstanding letters of credit. A commitment fee that ranges from 0.375% to 0.50%, depending on a leverage ratio specified in the credit agreement, is charged on any unused capacity of the revolving credit facility.
On January, 11, 2013, the credit facility capacity was increased to $385 million and Rose Rock borrowed $133.5 million in connection with the purchase of a 33% interest in SemCrude Pipeline, L.L.C. from SemGroup and to pay transaction related expenses. The facility can be increased by an additional $165 million. Approximately $1.6 million of related costs have been capitalized and will be amortized over the remaining life of the facility.
We had $8.6 million of Secured Bilateral Letters of Credit outstanding at June 30, 2013. The interest rate in effect was 1.75% on $0.6 million and 2.0% on $8.0 million. Secured Bilateral Letters of Credit are external to the facility and do not reduce revolver availability.
We recorded $2.5 million and $0.5 million of interest expense related to this facility during the three months ended June 30, 2013 and 2012, respectively, including amortization of debt issuance costs. We recorded $4.2 million and $1.0 million of interest expense related to this facility during the six months ended June 30, 2013 and 2012, respectively, including amortization of debt issuance costs.
At June 30, 2013, $2.7 million in capitalized loan fees, net of accumulated amortization, was recorded in other noncurrent assets, which is being amortized over the life of the facility.
At June 30, 2013, we were in compliance with the terms of the credit agreement.
SemMexico facilities
On July 13, 2012, SemMexico entered into a credit agreement that allows SemMexico to borrow up to 56 million Mexican pesos (U.S. $4.3 million at the June 30, 2013 exchange rate) at any time during the term of the facility, which matured in July 2013 and was repaid on July 12, 2013. Borrowings are unsecured and bear interest at the bank prime rate in Mexico plus 1.7%. At June 30, 2013, there were borrowings of 56 million Mexican pesos (U.S. $4.3 million at the June 30, 2013 exchange rate) outstanding on this facility and the interest rate in effect was 6.01%.
On June 13, 2012, SemMexico entered into a credit agreement that allows SemMexico to borrow up to 44 million Mexican pesos (U.S. $3.4 million at the June 30, 2013 exchange rate) at any time during the term of the facility, which matures in June 2015. Borrowings are unsecured and bear interest at the bank prime rate in Mexico plus 2.0%. At June 30, 2013, there were no outstanding borrowings on this facility.
SemMexico also has outstanding letters of credit of 292.8 million Mexican pesos at June 30, 2013 (U.S. $22.6 million at the June 30, 2013 exchange rate). Fees are generally charged on outstanding letters of credit at a rate of 0.5%.
SemMexico recorded interest expense of $0.1 million and $0.1 million during the three months ended June 30, 2013 and 2012, respectively. SemMexico recorded interest expense of $0.1 million and $0.1 million during the six months ended June 30, 2013 and 2012, respectively.
At June 30, 2013, we were in compliance with the terms of these facilities.
Capitalized interest
During the six months ended June 30, 2013 and 2012, we capitalized interest from our credit facilities of $1.8 million and $0.1 million, respectively.
Fair value
We estimate the fair value of our senior unsecured notes to be $303 million at June 30, 2013, based on unadjusted, transacted market prices, which is categorized as a Level 1 measurement. We estimate that the fair value of our other long-term debt was not materially different than the recorded values at June 30, 2013. It is our belief that neither the market interest rates nor our credit profile have changed significantly enough to have had a material impact on the fair value of our other debt outstanding at June 30, 2013. Both estimates are categorized as Level 3 measurements.
Commitments and Contingencies
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
Bankruptcy matters
On July 22, 2008 (the “Petition Date”), SemGroup, L.P., SemCrude, and Eaglwing filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. While in bankruptcy, SemGroup, L.P. filed a plan of reorganization with the court, which was confirmed on October 28, 2009 (the “Plan of Reorganization”). The Plan of Reorganization determined, among other things, how pre-Petition Date obligations would be settled, the equity structure of the reorganized company upon emergence, and the financing arrangements upon emergence. SemGroup Corporation, SemCrude, and Eaglwing emerged from bankruptcy protection on November 30, 2009 (the “Emergence Date”).
(a)
Confirmation order appeal
Luke Oil appeal. On October 21, 2009, Luke Oil Company, C&S Oil/Cross Properties, Inc., Wayne Thomas Oil and Gas and William R. Earnhardt Company (collectively, “Luke Oil”) filed an objection to the Plan of Reorganization “to the extent that the Plan of Reorganization may alter, impair, or otherwise adversely affect Luke Oil’s legal rights or other interests.” On October 28, 2009, the bankruptcy court overruled the Luke Oil objection and entered the confirmation order. On November 6, 2009, Luke Oil filed a Notice of Appeal. On December 23, 2009, Luke Oil’s appeal was docketed in the United States District Court for the District of Delaware. We filed a motion to dismiss the appeal as equitably moot. On May 21, 2012, the District Court entered an order granting our motion to dismiss Luke Oil's appeal of the confirmation order. On June 18, 2012, Luke Oil filed its Notice of Appeal, notifying the District Court and the parties to the lawsuit that it was appealing the decision of the District Court to the United States Court of Appeals for the Third Circuit. The appeal has been fully briefed. The Court of Appeals heard oral argument on January 22, 2013, and has not yet ruled. While we believe that this action is without merit and are vigorously defending this matter on appeal, an adverse ruling on this action could have a material adverse impact on us.
(b)
Investigations
Around the time of our predecessor's bankruptcy filings, several governmental agencies launched investigations regarding the circumstances of the filings. The mandate and scope of these investigations were very broad and the investigations are ongoing.
Bankruptcy examiner. On October 14, 2008, the bankruptcy court appointed an examiner to (i) investigate the circumstances surrounding our predecessor's trading strategy prior to bankruptcy filings; (ii) investigate the circumstances surrounding certain insider transactions and the formation of SemGroup Energy Partners L.P. (a former subsidiary); (iii) investigate the circumstances surrounding the potential improper use of borrowed funds and funds generated from operations and the liquidation of assets to satisfy margin calls related to our predecessor's trading strategy and that of certain entities owned or controlled by former officers and directors of the general partner of SemGroup, L.P.; (iv) determine whether any directors, officers or employees of the general partner of SemGroup, L.P. participated in fraud, dishonesty, incompetence, misconduct, mismanagement, or irregularity in the management of our affairs; and (v) determine whether the SemGroup debtor estates have causes of action against current or former officers, directors, or employees of the general partner of SemGroup, L.P. arising from such participation. The examiner’s report was filed with the bankruptcy court on April 15, 2009.
Certain current and prior employees of the general partner of SemGroup, L.P. are referenced in the examiner’s report and the report’s conclusions may suggest possible civil or criminal liability on their part. To the extent such claims exist, they are property of a litigation trust that was established for the benefit of pre-petition creditors pursuant to the Plan of Reorganization, and are not property of the reorganized SemGroup Corporation. This litigation trust is pursuing claims against certain former officers, at its own expense. We may incur expenses, which are not expected to be material, related to information and document requests of the litigation trust related to such claims. Any indemnification obligations to such officers by SemGroup, L.P. were discharged under the Plan of Reorganization.
CFTC. On June 19, 2008, we received a request for voluntary production from the Commodity Futures Trading Commission (“CFTC”). Subsequent to the bankruptcy filings, the CFTC sent other requests for voluntary production. The CFTC has also served subpoenas upon us requiring us to produce various documents and for the depositions of our representatives. We continue to comply with the CFTC’s requests. We are unaware of any currently pending formal charges against us by the CFTC.
DOJ. On July 15, 2008, we received a subpoena from the Department of Justice (“DOJ”) directing us to produce documents responsive to the subpoena. We contacted the DOJ regarding the subpoena and the DOJ verbally voluntarily stayed compliance with the subpoena. We have not produced any documents to the DOJ and, to our knowledge, the DOJ is not currently pursuing any such production. We are unaware of any currently pending formal charges against us by the DOJ.
(c)
Claims reconciliation process
A large number of parties have made claims against us for obligations alleged to have been incurred prior to our predecessor's bankruptcy filing. On September 15, 2010, the bankruptcy court entered an order estimating the contingent, unliquidated and disputed claims and authorizing distributions to holders of allowed claims. Pursuant to that order we have begun making distributions to the claimants. We continue to attempt to settle unresolved claims.
Pursuant to the Plan of Reorganization, we committed to settle authorized and allowed bankruptcy claims by paying a specified amount of cash, issuing a specified number of warrants, and issuing a specified number of shares of SemGroup Corporation common stock. We do not believe the resolution of the remaining outstanding claims will exceed the total amount of consideration established under the Plan of Reorganization for all claimants; instead, the resolution of the remaining claims in some cases will impact the relative share of the established pool of common stock and warrants that certain claimants receive.
However, under certain circumstances we could be required to pay additional funds to settle the specified group of claims to be settled with cash. Pursuant to the Plan of Reorganization, a specified amount of restricted cash was set aside at the Emergence Date, which we expect to be sufficient to settle this group of claims. Since the Emergence Date, we have made significant progress in resolving these claims, and we continue to believe that the cash set aside at the Emergence Date will be sufficient to settle these claims. However, we have not yet reached a resolution of all of these claims, and if the total settlement amount of all of these claims exceeds the specified amount, we will be required to pay additional funds to satisfy the total settlement amount for this specified group of claims. If this were to become probable of occurring, we would be required to record a liability and a corresponding expense.
Blueknight claim
Blueknight Energy Partners, L.P. (“Blueknight”), which was formerly a subsidiary of SemGroup, together with other entities related to Blueknight, entered into a Shared Services Agreement on April 7, 2009, with SemCrude, L.P. and SemManagement, L.L.C. (which are currently subsidiaries of SemGroup). The services provided by SemCrude to Blueknight under this agreement included the coordination of movement of crude oil belonging to Blueknight’s customers and the operation of Blueknight’s Oklahoma pipeline system and its Cushing, Oklahoma terminal. Under the subsequent amendments to the agreements beginning in May 2010, certain of these services were phased out, and Blueknight began to manage the movement of its crude oil and the operation of its Cushing terminal.
In a letter dated August 18, 2011, Blueknight claimed that SemCrude owes Blueknight approximately 141,000 barrels of crude oil. We responded to Blueknight’s letter denying their charges and requesting documentation from Blueknight of its claim. On February 14, 2012, after months of interaction between the parties through which we requested Blueknight to substantiate its claim, Blueknight filed suit against us in the District Court of Oklahoma County, Oklahoma. On May 1, 2012, the court approved our motion to transfer this case to Tulsa County, Oklahoma. On July 2, 2012, the Tulsa County District Court appointed a Special Master to conduct a review of whether Blueknight is missing 141,000 barrels of crude oil from operations occurring during the months of April through June, 2010. On June 11, 2013, the Special Master's Report was finalized and filed with the District Court, confirming a shortage in Blueknight's Cushing terminal and Oklahoma pipeline system.  Discovery will proceed in the District Court where we will seek documentation and testimony on the treatment of the missing oil.  We will continue to defend our position; however, we cannot predict the outcome. 
Environmental
We may from time to time experience leaks of petroleum products from our facilities and, as a result of which, we may incur remediation obligations or property damage claims. In addition, we are subject to numerous environmental regulations. Failure to comply with these regulations could result in the assessment of fines or penalties by regulatory authorities.
The Kansas Department of Health and Environment (“the KDHE”) initiated discussions during our bankruptcy proceeding regarding six of our sites in Kansas (five owned by Crude and one owned by SemGas) that KDHE believes, based on their historical use, may have soil or groundwater contamination in excess of state standards. KDHE sought our agreement to undertake assessments of these sites to determine whether they are contaminated. We reached an agreement with KDHE on this matter and entered into a Consent Agreement and Final Order with KDHE to conduct environmental assessments on the sites and to pay KDHE’s costs associated with their oversight of this matter. We have conducted Phase II investigations at all sites and results indicate that four of the sites have limited amounts of soil contamination that will require remediation and ground water contamination that may require further delineation and/or ongoing monitoring. Work plans have been submitted to, and approved by, the KDHE. We do not anticipate any penalties or fines for these historical sites.
A water pipeline break occurred at a SemCAMS facility during August 2010. This resulted in a spill of material that was predominantly salt water containing a small amount of hydrocarbons. The incident was investigated by Environment Canada and Alberta Environment. On February 14, 2012, charges were filed against SemCAMS by the Federal Government of Canada (Department of Fisheries) and the Province of Alberta (Alberta Environment) in connection with this incident. We have reviewed disclosure received from the agencies and engaged our expert to assist us in formulating our response. Our expert's report has been completed and was delivered to the crown in April 2013. Although it is not possible to predict the outcome of these proceedings, we accrued a liability for estimated fines and environmental contributions of $0.4 million in December 2010, which we still carry on our books at June 30, 2013.
Other matters
We are party to various other claims, legal actions, and complaints arising in the ordinary course of business. In the opinion of our management, the ultimate resolution of these claims, legal actions and complaints, after consideration of amounts accrued, insurance coverage and other arrangements, will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. However, the outcome of such matters is inherently uncertain, and estimates of our consolidated liabilities may change materially as circumstances develop.
Asset retirement obligations
We will be required to incur significant removal and restoration costs when we retire our natural gas gathering and processing facilities in Canada. We have recorded an asset retirement obligation liability of $40.5 million at June 30, 2013, which is included within other noncurrent liabilities on our condensed consolidated balance sheets. This amount was calculated using the $102.0 million cost we estimate we would incur to retire these facilities, discounted based on our risk-adjusted cost of borrowing and the estimated timing of remediation.
The calculation of the liability for an asset retirement obligation requires the use of significant estimates, including those related to the length of time before the assets will be retired, cost inflation over the assumed life of the assets, actual remediation activities to be required, and the rate at which such obligations should be discounted. Future changes in these estimates could result in material changes in the value of the recorded liability. In addition, future changes in laws or regulations could require us to record additional asset retirement obligations.
Our other segments may also be subject to removal and restoration costs upon retirement of their facilities. However, we are unable to predict when, or if, our pipelines, storage tanks and other facilities would become completely obsolete and require decommissioning. Accordingly, we have not recorded a liability or corresponding asset, as both the amount and timing of such potential future costs are indeterminable.
Purchase and sale commitments
We routinely enter into agreements to purchase and sell petroleum products at specified future dates. We account for derivatives at fair value with the exception of commitments which have been designated as normal purchases and sales for which we do not record assets or liabilities related to these agreements until the product is purchased or sold. At June 30, 2013, such commitments included the following (in thousands):
 
Volume
(Barrels)
 
Value
Fixed price purchases
150

 
$
13,434

Fixed price sales
150

 
$
14,318

Floating price purchases
18,933

 
$
1,772,366

Floating price sales
18,948

 
$
1,799,559


Certain of the commitments shown in the table above relate to agreements to purchase product from a counterparty and to sell a similar amount of product (in a different location) to the same counterparty. Many of the commitments shown in the table above are cancellable by either party, as long as notice is given within the time frame specified in the agreement (generally 30 to 120 days).
Our SemGas segment has a take or pay contractual obligation related to the fractionation of natural gas liquids. This obligation began in July 2011 and continues through June 2023, subsequent to the extension of the agreement in the second quarter of 2013. At June 30, 2013, approximately $26 thousand was due under the contract and the amount of future obligation is approximately $89.0 million. SemGas also enters into contracts under which we are responsible for marketing the majority of the gas and natural gas liquids produced by the counterparties to the agreements. The majority of SemGas’ revenues were generated from such contracts.
During the first quarter 2012, SemGas committed to purchasing equipment related to a 125 mmcf per day processing facility. At June 30, 2013, the future obligation associated with this purchase is $1.7 million.
See Note 3 for commitments related to Glass Mountain Pipeline LLC and the White Cliffs expansion project.
Equity
EQUITY
EQUITY
Unaudited condensed consolidated statement of changes in owners’ equity
The following table shows the changes in our consolidated owners’ equity accounts from December 31, 2012 to June 30, 2013 (in thousands):
 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury
Stock
 
Accumulated
Deficit
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Noncontrolling
Interests
 
Total
Owners’
Equity
Balance at December 31, 2012
$
420

 
$
1,039,189

 
$
(242
)
 
$
(145,674
)
 
$
(1,299
)
 
$
129,134

 
$
1,021,528

Net income
—

 
—

 
—

 
47,013

 
—

 
9,065

 
56,078

Other comprehensive income (loss), net of income taxes
—

 
—

 
—

 
—

 
(10,412
)
 
—

 
(10,412
)
Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
(7,496
)
 
(7,496
)
Rose Rock Midstream, L.P. equity issuance
—

 
—

 
—

 
—

 
—

 
57,751

 
57,751

Transfer of SemCrude Pipeline interest to Rose Rock*
—

 
56,800

 
—

 
—

 
—

 
(90,516
)
 
(33,716
)
Warrants settlements
4

 
23,460

 
—

 
—

 
—

 
—

 
23,464

Dividends paid
—

 
(7,939
)

—

 
—

 
—

 
—

 
(7,939
)
Unvested dividend equivalent rights
—

 
(25
)
 
—

 
—

 
—

 
(16
)
 
(41
)
Non-cash equity compensation
—

 
2,904

 
—

 
—

 
—

 
355

 
3,259

Issuance of common stock under compensation plans
1

 
(1
)
 
—

 
—

 
—

 
—

 
—

Repurchase of common stock
—

 
—

 
(371
)
 
—

 
—

 
—

 
(371
)
Balance at June 30, 2013
$
425

 
$
1,114,388

 
$
(613
)
 
$
(98,661
)
 
$
(11,711
)
 
$
98,277

 
$
1,102,105

* On January 13, 2013, we contributed a 33% interest in SemCrude Pipeline, L.L.C. to our consolidated subsidiary, Rose Rock. As this transaction was between entities under common control, the interest in SemCrude Pipeline, L.L.C. was recorded by Rose Rock based on SemGroup's book value. This amount represents the purchase price in excess of book value which was attributed to the noncontrolling interest owners of Rose Rock. The entry to additional paid-in capital has been recorded net of tax.
Accumulated other comprehensive loss
The following table presents the changes in the components of accumulated other comprehensive income (loss) from December 31, 2012 to June 30, 2013 (in thousands):
 
Currency
Translation
 
Employee
Benefit
Plans
 
Total
Balance at December 31, 2012
$
1,855

 
$
(3,154
)
 
$
(1,299
)
Currency translation adjustment
(10,504
)
 
—

 
(10,504
)
Changes related to benefit plans, net of income tax expense of $31
—

 
92

 
92

Balance at June 30, 2013
$
(8,649
)
 
$
(3,062
)
 
$
(11,711
)


There were no significant items reclassified out of accumulated other comprehensive loss to net income for the three months and six months ended June 30, 2013.
Common stock
Upon emergence from bankruptcy, we issued 40,882,496 shares of common stock. The Plan of Reorganization specified that we were to issue an additional 517,500 shares of common stock in settlement of pre-petition claims. As of June 30, 2013, we have issued 226,016 shares of this stock and will issue the remainder as the process of resolving the claims progresses. The owners’ equity balances on the condensed consolidated balance sheets include the shares that are required to be issued in settlement of pre-petition claims. The shares of common stock reflected on the condensed consolidated balance sheet at June 30, 2013 are summarized below:
Shares issued on Emergence Date
40,882,496

Shares subsequently issued in settlement of pre-petition claims
226,016

Remaining shares required to be issued in settlement of pre-petition claims
291,484

Issuance of shares under employee and director compensation programs(*)
689,320

Shares issued upon exercise of warrants
435,774

Total shares
42,525,090

Par value per share
$
0.01

Common stock on June 30, 2013 balance sheet (in thousands)
$
425

(*) These shares include 105,738 shares which vested during the six months ended June 30, 2013. Of these vested shares, recipients sold back to the Company 8,591 shares to satisfy tax withholding obligations which are being recognized at cost as treasury stock on the condensed consolidated balance sheet.
In addition to the shares in the table above, there are shares of unvested restricted stock outstanding at June 30, 2013. The par value of these shares has not yet been reflected in common stock on the condensed consolidated balance sheet, as these shares have not yet vested. There are also shares of restricted stock that were returned to treasury upon forfeiture. The par value of these shares is not reflected in the condensed consolidated balance sheet, as no accounting recognition is given to forfeited shares.
The common stock includes Class A and Class B stock. Class A stock is eligible to be listed on an exchange, whereas Class B stock is not. Any share of Class B stock may be converted to Class A at the election of the holder. Both classes of stock have full voting rights. Both classes of stock have a par value of $0.01 per share. The total number of shares authorized for issuance is 90,000,000 shares of Class A stock and 10,000,000 shares of Class B stock.
Equity-based compensation
We have reserved common stock for issuance pursuant to director and employee compensation programs. At June 30, 2013, there were approximately 540,000 unvested shares that have been granted under these programs. The par value of these shares is not reflected in common stock on the condensed consolidated balance sheet, as these shares have not yet vested. Shares of restricted stock awards that were forfeited were returned to treasury. The par value of these shares is not reflected in the condensed consolidated balance sheet, as no accounting recognition is given to forfeited shares. For certain of the awards, the number of shares that will vest is contingent upon our achievement of certain specified targets. If we meet the specified maximum targets, approximately 141,000 additional shares could vest. The holders of certain restricted stock awards granted prior to 2013 are entitled to equivalent dividends (“Unvested Dividends” or “UDs”) to be received upon vesting of the restricted stock awards. The dividends will be settled in common shares based on the market price of our Class A shares as of the close of business on the vesting date. The UDs are subject to the same forfeiture and acceleration conditions as the associated restricted stock awards. At June 30, 2013, the value of the UDs related to unvested restricted stock awards was approximately $39 thousand. This is equivalent to 717 Class A shares based on the quarter end close of business market price of our Class A shares of $53.86 per share. Dividends related to the 2013 restricted stock awards will be settled in cash upon vesting.
During the six months ended June 30, 2013, we have issued 201,451 restricted stock awards with a weighted average grant date fair value of $52.78 per award.
Warrants
Upon emergence from bankruptcy, we issued 1,634,210 warrants. The Plan of Reorganization specified that we were to issue an additional 544,737 warrants in settlement of the pre-petition claims. As of June 30, 2013, we have issued 237,897 of the warrants and will issue the remainder as the process of resolving the claims progresses. The warrants are traded on the New York Stock Exchange under the ticker symbol SEMGWS. We classify the warrant fair value as a Level 1 measurement. The warrants reflected on the condensed consolidated balance sheet at June 30, 2013 are summarized below:
Warrants issued on Emergence Date
1,634,210

Warrants subsequently issued in settlement of pre-petition claims
237,897

Remaining warrants to be issued in settlement of pre-petition claims
306,840

Warrants exercised (*)
(808,114
)
Total warrants at June 30, 2013
1,370,833

Fair value per warrant at June 30, 2013
$
30.50

Warrant value included within other noncurrent liabilities on June 30, 2013 consolidated balance sheet
$
41,810,407

 
(*) During the six months ended June 30, 2013, certain warrant holders exercised a total of 762,807 warrants resulting in the issuance of 420,067 Class A shares.
Each warrant entitles the holder to purchase one share of common stock for $25 at any time before the November 30, 2014 expiration date. Upon exercise, a holder may elect a cashless exercise, whereby the number of shares to be issued to the holder is reduced, in lieu of a cash payment. The closing price of our common stock was $53.86 per share on June 28, 2013. In the event of a change in control of the Company, the holders of the warrants would have the right to sell the warrants to us, and we would have the right to purchase the warrants from the holders. In either case, the price to be paid for the warrants would be calculated using a standard pricing model with inputs specified in the warrant agreement.
Employee Stock Purchase Plan
As part of the Company's 2013 Annual Meeting of Stockholders held on May 22, 2013, Company stockholders approved the 2013 Employee Stock Purchase Plan (“ESPP”). The ESPP will be effective October 1, 2013 and will allow Company employees to purchase the Company's Class A stock through payroll deductions based on six month offering periods. Share purchases will be limited to 12,500 shares per offering period per employee-participant. Shares will be able to be purchased by employee-participants at 85% of the Fair Market Value (as defined by the ESPP). Upon the purchase of shares, employee-participants will receive all stockholder rights including dividend and voting rights, and will be permitted to sell their shares at any time. The Company has made 1.0 million shares available under the ESPP. The ESPP terminates on September 30, 2023 or earlier at the discretion of the Board of Directors. No shares are expected to be issued under the ESPP in fiscal year 2013 as the end of the first offering period does not occur until March 31, 2014. The Company expects to begin recording stock based compensation expense related to the ESPP in the fourth quarter for 2013, the start of the first offering period.
Dividends
On May 30, 2013, we paid a dividend of $0.19 per share to shareholders of record on May 20, 2013. On August 8, 2013, we declared a dividend of $0.20 per share payable on August 30, 2013 to shareholders of record on August 19, 2013.
Earnings Per Share
EARNINGS PER SHARE
EARNINGS PER SHARE

Earnings per share is calculated based on income from continuing and discontinued operations less any income attributable to the noncontrolling interest.  Income attributable to noncontrolling interests represents third party limited partner unitholders' interests in the earnings of our consolidated subsidiary, Rose Rock.  Rose Rock allocates net income to its limited partners based on the distributions pertaining to the current period's available cash as defined by Rose Rock's partnership agreement. After adjusting for the appropriate period's distributions, the remaining undistributed earnings or excess distributions over earnings, if any, are allocated to Rose Rock's general partner, limited partners and participating securities in accordance with the contractual terms of Rose Rock's partnership agreement and as further prescribed under the two-class method. Incentive distribution rights do not participate in undistributed earnings.
Basic earnings (loss) per share (“Basic EPS”) is calculated based on the weighted average shares outstanding during the period.  Diluted earnings (loss) per share (“Diluted EPS”) includes the dilutive effect of warrants and unvested equity compensation awards.
The following summarizes the calculation of basic earnings (loss) per share for the three months and six months ended June 30, 2013 and 2012 (in thousands, except per share amounts):

 
Three Months Ended June 30, 2013
 
Three Months Ended June 30, 2012
 
Continuing
Operations
 
Discontinued
Operations
 
Net
 
Continuing
Operations
 
Discontinued
Operations
 
Net
Income
$
7,477

 
$
35

 
$
7,512

 
$
7,684

 
$
(441
)
 
$
7,243

less: Income attributable to noncontrolling interests
3,943

 
—

 
3,943

 
2,096

 
—

 
2,096

Numerator
$
3,534

 
$
35

 
$
3,569

 
$
5,588

 
$
(441
)
 
$
5,147

Common stock issued and to be issued pursuant to Plan of Reorganization
41,400

 
41,400

 
41,400

 
41,400

 
41,400

 
41,400

Weighted average common stock outstanding issued under compensation plans and warrant exercises
811

 
811

 
811

 
534

 
534

 
534

Denominator
42,211

 
42,211

 
42,211

 
41,934

 
41,934

 
41,934

Basic earnings (loss) per share
$
0.08

 
$
—

 
$
0.08

 
$
0.13

 
$
(0.01
)
 
$
0.12


 
Six Months Ended June 30, 2013
 
Six Months Ended June 30, 2012
 
Continuing
Operations
 
Discontinued
Operations
 
Net
 
Continuing
Operations
 
Discontinued
Operations
 
Net
Income
$
56,011

 
$
67

 
$
56,078

 
$
9,542

 
$
(189
)
 
$
9,353

less: Income attributable to noncontrolling interests
9,065

 
—

 
9,065

 
5,579

 
—

 
5,579

Numerator
$
46,946

 
$
67

 
$
47,013

 
$
3,963

 
$
(189
)
 
$
3,774

Common stock issued and to be issued pursuant to Plan of Reorganization
41,400

 
41,400

 
41,400

 
41,400

 
41,400

 
41,400

Weighted average common stock outstanding issued under compensation plans and warrant exercises
745

 
745

 
745

 
520

 
520

 
520

Denominator
42,145

 
42,145

 
42,145

 
41,920

 
41,920

 
41,920

Basic earnings per share
$
1.11

 
$
—

 
$
1.12

 
$
0.09

 
$
—

 
$
0.09



The following summarizes the calculation of diluted earnings (loss) per share for the three months and six months ended June 30, 2013 and 2012 (in thousands, except per share amounts):

 
Three Months Ended June 30, 2013
 
Three Months Ended June 30, 2012
 
Continuing
Operations
 
Discontinued
Operations
 
Net
 
Continuing
Operations
 
Discontinued
Operations
 
Net
Income
$
7,477

 
$
35

 
$
7,512

 
$
7,684

 
$
(441
)
 
$
7,243

less: Income attributable to noncontrolling interests
3,943

 
—

 
3,943

 
2,096

 
—

 
2,096

Numerator
$
3,534

 
$
35

 
$
3,569

 
$
5,588

 
$
(441
)
 
$
5,147

Common stock issued and to be issued pursuant to Plan of Reorganization
41,400

 
41,400

 
41,400

 
41,400

 
41,400

 
41,400

Weighted average common stock outstanding issued under compensation plans and warrant exercises
811

 
811

 
811

 
534

 
534

 
534

Effect of dilutive securities
315

 
315

 
315

 
199

 
199

 
199

Denominator
42,526

 
42,526

 
42,526

 
42,133

 
42,133

 
42,133

Diluted earnings (loss) per share
$
0.08

 
$
—

 
$
0.08

 
$
0.13

 
$
(0.01
)
 
$
0.12


 
Six Months Ended June 30, 2013
 
Six Months Ended June 30, 2012
 
Continuing
Operations
 
Discontinued
Operations
 
Net
 
Continuing
Operations
 
Discontinued
Operations
 
Net
Income
$
56,011

 
$
67

 
$
56,078

 
$
9,542

 
$
(189
)
 
$
9,353

less: Income attributable to noncontrolling interests
9,065

 
—

 
9,065

 
5,579

 
—

 
5,579

Numerator
$
46,946

 
$
67

 
$
47,013

 
$
3,963

 
$
(189
)
 
$
3,774

Common stock issued and to be issued pursuant to Plan of Reorganization
41,400

 
41,400

 
41,400

 
41,400

 
41,400

 
41,400

Weighted average common stock outstanding issued under compensation plans and warrant exercises
745

 
745

 
745

 
520

 
520

 
520

Effect of dilutive securities
279

 
279

 
279

 
176

 
176

 
176

Denominator
42,424

 
42,424

 
42,424

 
42,096

 
42,096

 
42,096

Diluted earnings per share
$
1.11

 
$
—

 
$
1.11

 
$
0.09

 
$
—

 
$
0.09


During the three months and six months ended June 30, 2013, we recorded expenses of $6.4 million and $32.2 million, respectively, related to the change in fair value of the warrants. During the three months and six months ended June 30, 2012, we recorded expenses of $3.6 million and $7.5 million related to the change in fair value of the warrants. Because the mark to market valuation of the warrants resulted in losses, the warrants would have been antidilutive and, therefore, were not included in the computation of diluted earnings per share.
Supplemental Cash Flow Information
SUPPLEMENTAL CASH FLOW INFORMATION
SUPPLEMENTAL CASH FLOW INFORMATION
The following table summarizes the changes in the components of operating assets and liabilities shown on our condensed consolidated statements of cash flows (in thousands):

 
Six Months Ended June 30,
 
2013
 
2012
Decrease (increase) in restricted cash
$
275

 
$
4,508

Decrease (increase) in accounts receivable
(12,512
)
 
(71,647
)
Decrease (increase) in receivable from affiliates
(2,416
)
 
648

Decrease (increase) in inventories
(237
)
 
9,944

Decrease (increase) in derivatives and margin deposits
972

 
702

Decrease (increase) in other current assets
839

 
3,825

Decrease (increase) in other assets
266

 
2,259

Increase (decrease) in accounts payable and accrued liabilities
7,229

 
42,802

Increase (decrease) in payable to affiliates
2

 
(5,622
)
Increase (decrease) in payables to pre-petition creditors
(424
)
 
(4,360
)
Increase (decrease) in other noncurrent liabilities
(3,323
)
 
(1,289
)
 
$
(9,329
)
 
$
(18,230
)
  

Other supplemental disclosures
We recorded a $90.5 million reduction to noncontrolling interests in consolidated subsidiaries and an offsetting increase to additional paid-in capital of $56.8 million (net of tax impact of $33.7 million). This non-cash entry represents the portion of the proceeds in excess of historical cost which were attributed to Rose Rock's third-party unitholders related to Rose Rock's purchase of a 33% interest in SemCrude Pipeline, L.L.C. (Note 2).

During the six months ended June 30, 2013, we issued 420,067 Class A units related to the exercise of 762,807 warrants resulting in the non-cash reclassification of $23.3 million from other noncurrent liabilities to common stock and additional paid-in capital. Cash proceeds of $0.2 million were received in connection with the warrant exercises.

We paid cash interest of $4.1 million and $4.2 million for the six months ended June 30, 2013 and 2012, respectively.

We paid cash for income taxes (net of refunds received) of $2.0 million and $6.1 million for the six months ended June 30, 2013 and 2012, respectively.

We incurred liabilities for construction work in process that had not been paid of $3.7 million and $8.5 million as of June 30, 2013 and 2012, respectively. Such amounts are not included in capital expenditures on the consolidated statements of cash flows.
Related Party Transactions
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS
NGL Energy
As described in Note 3, we own interests in NGL Energy, which we account for under the equity method.
During the three and six months ended June 30, 2013 and 2012, we generated the following transactions with NGL Energy (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Revenues
$
19,459

 
$
13,438

 
$
35,324

 
$
27,550

Purchases
$
—

 
$
12,677

 
$
—

 
$
30,564

Reimbursements from NGL Energy for transition services
$
48

 
$
131

 
$
96

 
$
498


White Cliffs
As described in Note 3, we account for our ownership interest in White Cliffs under the equity method. During the three months ended June 30, 2013 and 2012, we generated storage revenue from White Cliffs of approximately $0.8 million and $0.6 million, respectively. We generated storage revenue from White Cliffs of approximately $1.3 million and $1.2 million during the six months ended June 30, 2013 and 2012, respectively.
Glass Mountain
As described in Note 3, in May 2012, we formed a joint venture, Glass Mountain, to construct, maintain and operate a 210-mile crude oil pipeline system originating in Alva and Arnett, Oklahoma and terminating at Cushing, OK. In connection with the pipeline project, Glass Mountain entered into a Pipeline Construction Management Agreement with Glass Mountain Holding, LLC ("GMH"), a wholly-owned subsidiary of SemGroup. The Pipeline Construction Management Agreement appoints GMH as construction manager of the pipeline project for which GMH will receive $0.9 million prorated over the period of construction. For the three months and the six months ended June 30, 2013, Glass Mountain paid $0.1 million and $0.2 million to GMH pursuant to this agreement, the remaining balance of $0.2 million will be received by GMH over the period of construction.
Legal services
The law firm of Conner & Winters, LLP, of which Mark D. Berman is a partner, performs legal services for us. Mr. Berman is the spouse of Candice L. Cheeseman, General Counsel and Secretary. Mr. Berman does not perform any legal services for us. SemGroup paid $0.5 million and $0.2 million in legal fees and related expenses to this law firm during the three months ended June 30, 2013 and 2012, respectively (of which $11.5 thousand and $10.2 thousand was paid by White Cliffs during the three months ended June 30, 2013 and 2012, respectively). SemGroup paid $1.0 million and $0.5 million in legal fees and related expenses to this law firm during the six months ended June 30, 2013 and 2012, respectively (of which $47.5 thousand and $46.2 thousand was paid by White Cliffs during the six months ended June 30, 2013 and 2012, respectively).
Acquisition Acquisition (Notes)
Mergers, Acquisitions and Dispositions Disclosures [Text Block]
14.
ACQUISITIONS

Mid-America Midstream Gas Services, L.L.C.

On April 30, 2013, we executed a definitive agreement to acquire the equity interest of Mid-America Midstream Gas Services, L.L.C., a wholly owned subsidiary of Chesapeake Energy Corporation (NYSE: CHK)("Chesapeake"), which is the owner of gas gathering and processing assets in the Mississippi Lime play for approximately $300 million in cash. On August 1, 2013, we completed the acquisition. The transaction was funded through the combination of a portion of the net proceeds from the sale of the Notes and a borrowing under the revolving credit facility under SemGroup's corporate credit agreement. Highlights of the acquisition include the following:

•
200 miles of gathering pipeline;
•
Rose Valley I plant - A 200 mmcf/d (million cubic feet per day) cryogenic processing plant, expected to be in operation in the first quarter of 2014;
•
Rose Valley II plant - A 200 mmcf/d cryogenic processing plant, expected to be in operation in the first quarter of 2016;
•
Approximately 540,000 net acre dedication in the core of the Mississippi Lime play, supported by a recently announced joint venture between Chesapeake and Sinopec International Petroleum Exploration and Production Corporation ("Sinopec"); and
•
A 20-year, 100% fee based, gas gathering and processing agreement with certain affiliates of Chesapeake and Sinopec.

Rose Valley plants I and II will require approximately $125 million of additional capital expenditures for completion as well as additional capital related to future well connections.

Barcas Field Services, LLC

On August 1, 2013, our consolidated subsidiary, Rose Rock, executed a definitive agreement to acquire the assets of Barcas Field Services, LLC, which owns and operates a crude oil trucking fleet for $47 million. The transaction is expected to close during the third quarter of 2013. Highlights of the acquisition include the following:

•
114 trucks, 120 trailers and miscellaneous equipment; and
•
a long-term take-or-pay customer transportation agreement.

NGL Energy

On August 6, 2013, we completed the acquisition of approximately 5.36% of the general partner of NGL Energy, which increases our ownership of NGL Energy's general partner to 11.78%.
Condensed Consolidating Guarantor Financial Statements (Notes)
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
15.
CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS

Pursuant to the Registration Rights Agreement related to our offering of $300 million of 7.50% senior unsecured notes, as discussed in Note 8, we intend to file a registration statement with the SEC so that holders of the Notes can exchange the Notes and the related guarantees for the Exchange Notes and related guarantees.
Each of the Guarantors is 100% owned by SemGroup Corporation (the "Parent"). Such guarantees of the Notes are full and unconditional and constitute the joint and several obligations of the Guarantors. The guarantees of the Exchange Notes will be full and unconditional and will constitute the joint and several obligations of the Guarantors. There are no significant restrictions upon the ability of the Parent or any of the Guarantors to obtain funds from its respective subsidiaries by dividend or loan. None of the assets of the Guarantors represent restricted net assets pursuant to Rule 4-08(e)(3) of Regulation S-X under the Securities Act.
Unaudited condensed consolidating financial statements for the Parent, the Guarantors and non-guarantors as of June 30, 2013 and December 31, 2012 and for each of the three months and six months ended June 30, 2013 and 2012 are presented on an equity method basis in the tables below (in thousands).
Intercompany receivable and payable balances, including notes receivable and payable, are capital transactions primarily to facilitate the capital needs of our subsidiaries. As such, subsidiary intercompany balances have been reported as a reduction to equity on the condensed consolidating Guarantor balance sheets. The Parent's net intercompany balance, including note receivable, and investments in subsidiaries have been reported in equity method investments on the condensed consolidating Guarantor balance sheets. Intercompany transactions, such as daily cash management activities, have been reported as financing activities within the condensed consolidating Guarantor statements of cash flows. The Parent's investing activities with subsidiaries, such as the drop down of a 33% interest in SCPL to Rose Rock in the first quarter of 2013 have been reflected as cash flows from investing activities. Quarterly cash distributions from Rose Rock representing a return on capital have been included in the Parent's cash flows from operations. These balances are eliminated through consolidating adjustments below.
Condensed Consolidating Guarantor Balance Sheets
 
 
June 30, 2013
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
234,732

 
$
—

 
$
68,254

 
$
(4,220
)
 
$
298,766

Restricted cash
 
33,050

 
—

 
1,282

 
—

 
34,332

Accounts receivable
 
1,325

 
8,172

 
338,180

 
—

 
347,677

Receivable from affiliates
 
671

 
10,344

 
—

 
(2,421
)
 
8,594

Inventories
 
—

 
267

 
34,102

 
—

 
34,369

Other current assets
 
3,016

 
447

 
12,822

 
—

 
16,285

Total current assets
 
272,794

 
19,230


454,640


(6,641
)

740,023

Property, plant and equipment
 
4,837

 
157,563

 
671,191

 
—

 
833,591

Equity method investments
 
1,081,478

 
484,868

 
193,709

 
(1,293,816
)
 
466,239

Goodwill
 
—

 
—

 
9,916

 
—

 
9,916

Other intangible assets
 
33

 
—

 
6,778

 
—

 
6,811

Other noncurrent assets, net
 
28,277

 
1,176

 
10,618

 
—

 
40,071

Total assets
 
$
1,387,419

 
$
662,837


$
1,346,852


$
(1,300,457
)

$
2,096,651

LIABILITIES AND OWNERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
318

 
$
17,505

 
$
235,149

 
$
—

 
$
252,972

Accrued liabilities
 
8,507

 
7,193

 
51,880

 
(1
)
 
67,579

Payables to pre-petition creditors
 
32,313

 
—

 
54

 
—

 
32,367

Deferred revenue
 
—

 
—

 
17,736

 
—

 
17,736

Other current liabilities
 
100

 
726

 
6,961

 
(42
)
 
7,745

Current portion of long-term debt
 
—

 
—

 
4,349

 
—

 
4,349

Total current liabilities
 
41,238

 
25,424

 
316,129

 
(43
)
 
382,748

Long-term debt
 
300,000

 
—

 
166,549

 
—

 
466,549

Deferred income taxes
 
535

 
—

 
55,412

 
—

 
55,947

Other noncurrent liabilities
 
41,818

 
—

 
47,484

 
—

 
89,302

Commitments and contingencies
 


 


 


 


 


Owners’ equity excluding noncontrolling interests in consolidated subsidiaries
 
1,003,828

 
637,413

 
663,001

 
(1,300,414
)
 
1,003,828

Noncontrolling interests in consolidated subsidiaries
 
—

 
—

 
98,277

 
—

 
98,277

Total owners’ equity
 
1,003,828

 
637,413


761,278


(1,300,414
)

1,102,105

Total liabilities and owners’ equity
 
$
1,387,419


$
662,837

 
$
1,346,852

 
$
(1,300,457
)
 
$
2,096,651


 
 
December 31, 2012
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
19,123

 
$
—

 
$
63,844

 
$
(2,938
)
 
$
80,029

Restricted cash
 
33,324

 
—

 
1,354

 
—

 
34,678

Accounts receivable
 
1,155

 
7,927

 
337,087

 
—

 
346,169

Receivable from affiliates
 
827

 
7,222

 
109

 
(1,980
)
 
6,178

Inventories
 
—

 
181

 
34,252

 
—

 
34,433

Other current assets
 
2,528

 
312

 
15,676

 
—

 
18,516

Total current assets
 
56,957

 
15,642


452,322


(4,918
)

520,003

Property, plant and equipment
 
5,399

 
122,899

 
686,426

 
—

 
814,724

Equity method investments
 
1,104,832

 
468,033

 
138,970

 
(1,324,033
)
 
387,802

Goodwill
 
—

 
—

 
9,884

 
—

 
9,884

Other intangible assets
 
36

 
—

 
7,549

 
—

 
7,585

Other noncurrent assets, net
 
3,606

 
1,317

 
3,258

 
—

 
8,181

Total assets
 
$
1,170,830

 
$
607,891


$
1,298,409


$
(1,328,951
)

$
1,748,179

LIABILITIES AND OWNERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
70

 
$
12,304

 
$
241,249

 
$
—

 
$
253,623

Accrued liabilities
 
8,972

 
4,546

 
50,313

 
—

 
63,831

Payables to pre-petition creditors
 
32,876

 
—

 
57

 
—

 
32,933

Deferred revenue
 
—

 
—

 
18,973

 
—

 
18,973

Other current liabilities
 
134

 
580

 
4,263

 
(17
)
 
4,960

Current portion of long-term debt
 
—

 
—

 
24

 
—

 
24

Total current liabilities
 
42,052

 
17,430

 
314,879

 
(17
)
 
374,344

Long-term debt
 
201,500

 
—

 
4,562

 
—

 
206,062

Deferred income taxes
 
2,018

 
—

 
63,602

 
—

 
65,620

Other noncurrent liabilities
 
32,866

 
—

 
47,759

 
—

 
80,625

Commitments and contingencies
 


 


 


 


 


Owners’ equity excluding noncontrolling interests in consolidated subsidiaries
 
892,394

 
590,461

 
738,473

 
(1,328,934
)
 
892,394

Noncontrolling interests in consolidated subsidiaries
 
—

 
—

 
129,134

 
—

 
129,134

Total owners’ equity
 
892,394

 
590,461


867,607


(1,328,934
)

1,021,528

Total liabilities and owners’ equity
 
$
1,170,830

 
$
607,891


$
1,298,409


$
(1,328,951
)

$
1,748,179



Condensed Consolidating Guarantor Statements of Operations
 
 
Three Months Ended June 30, 2013
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Product
 
$
—

 
$
45,623

 
$
200,649

 
$
(5,019
)
 
$
241,253

Service
 
—

 
223

 
31,455

 
—

 
31,678

Other
 
—

 
—

 
51,313

 
—

 
51,313

Total revenues
 
—

 
45,846


283,417


(5,019
)

324,244

Expenses:
 
 
 
 
 
 
 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
 
—

 
32,682

 
185,046

 
(5,019
)
 
212,709

Operating
 
—

 
4,001

 
65,681

 
—

 
69,682

General and administrative
 
4,210

 
2,069

 
10,619

 
—

 
16,898

Depreciation and amortization
 
482

 
2,082

 
10,250

 
—

 
12,814

Gain on disposal of long-lived assets, net
 
—

 
(5
)
 
(371
)
 
—

 
(376
)
Total expenses
 
4,692

 
40,829


271,225


(5,019
)

311,727

Earnings from equity method investments
 
20,358

 
19,796

 
10,661

 
(35,954
)
 
14,861

Operating income
 
15,666

 
24,813


22,853


(35,954
)

27,378

Other expenses (income):
 
 
 
 
 
 
 
 
 

Interest expense
 
(901
)
 
1,024

 
4,372

 
—

 
4,495

Foreign currency transaction gain
 
—

 
—

 
(349
)
 
—

 
(349
)
Other expense, net
 
5,009

 
—

 
1,458

 
—

 
6,467

Total other expenses, net
 
4,108

 
1,024


5,481


—


10,613

Income from continuing operations before income taxes
 
11,558

 
23,789


17,372


(35,954
)

16,765

Income tax expense
 
7,989

 
—

 
1,299

 
—

 
9,288

Income from continuing operations
 
3,569

 
23,789


16,073


(35,954
)

7,477

Income (loss) from discontinued operations, net of income taxes
 
—

 
36

 
(1
)
 
—

 
35

Net income
 
3,569

 
23,825


16,072


(35,954
)

7,512

Less: net income attributable to noncontrolling interests
 
—

 
—

 
3,943

 
—

 
3,943

Net income attributable to SemGroup
 
$
3,569

 
$
23,825


$
12,129


$
(35,954
)

$
3,569

Net income
 
$
3,569

 
$
23,825


$
16,072


$
(35,954
)

$
7,512

Other comprehensive income (loss), net of income taxes
 
936

 
—

 
(6,290
)
 
—

 
(5,354
)
Comprehensive income
 
4,505

 
23,825


9,782


(35,954
)

2,158

Less: comprehensive income attributable to noncontrolling interests
 
—

 
—


3,943


—


3,943

Comprehensive income (loss) attributable to SemGroup
 
$
4,505

 
$
23,825


$
5,839


$
(35,954
)

$
(1,785
)
 
 
Three Months Ended June 30, 2012
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Product
 
$
—

 
$
25,114

 
$
214,996

 
$
(2,539
)
 
$
237,571

Service
 
—

 
317

 
29,298

 
—

 
29,615

Other
 
—

 
—

 
64,591

 
—

 
64,591

Total revenues
 
—

 
25,431


308,885


(2,539
)

331,777

Expenses:
 
 
 
 
 
 
 
 
 

Costs of products sold, exclusive of depreciation and amortization shown below
 
—

 
19,473

 
203,002

 
(2,539
)
 
219,936

Operating
 
—

 
3,349

 
79,040

 
—

 
82,389

General and administrative
 
6,459

 
1,414

 
8,688

 
—

 
16,561

Depreciation and amortization
 
634

 
1,576

 
9,672

 
—

 
11,882

Loss on disposal of long-lived assets, net
 
—

 
—

 
119

 
—

 
119

Total expenses
 
7,093

 
25,812


300,521


(2,539
)

330,887

Earnings from equity method investments
 
14,188

 
13,659

 
8,470

 
(24,028
)
 
12,289

Operating income
 
7,095

 
13,278


16,834


(24,028
)

13,179

Other expenses (income):
 
 
 
 
 
 
 
 
 

Interest expense
 
(231
)
 
770

 
2,983

 
(1,408
)
 
2,114

Foreign currency transaction gain
 
—

 
—

 
(35
)
 
—

 
(35
)
Other expense, net
 
2,085

 
5

 
10

 
1,408

 
3,508

Total other expenses, net
 
1,854

 
775


2,958


—


5,587

Income from continuing operations before income taxes
 
5,241

 
12,503


13,876


(24,028
)

7,592

Income tax expense (benefit)
 
95

 
—

 
(187
)
 
—

 
(92
)
Income (loss) from continuing operations
 
5,146

 
12,503


14,063


(24,028
)

7,684

Income (loss) from discontinued operations, net of income taxes
 
1

 
—

 
(442
)
 
—

 
(441
)
Net income
 
5,147

 
12,503


13,621


(24,028
)

7,243

Less: net income attributable to noncontrolling interests
 
—

 
—

 
2,096

 
—

 
2,096

Net income attributable to SemGroup
 
$
5,147

 
$
12,503


$
11,525


$
(24,028
)

$
5,147

Net income
 
$
5,147

 
$
12,503


$
13,621


$
(24,028
)

$
7,243

Other comprehensive loss, net of income taxes
 
(1,486
)
 
—

 
(8,411
)
 
—

 
(9,897
)
Comprehensive income (loss)
 
3,661

 
12,503


5,210


(24,028
)

(2,654
)
Less: comprehensive income attributable to noncontrolling interests
 
—

 
—

 
2,096

 
—

 
2,096

Comprehensive income (loss) attributable to SemGroup
 
$
3,661

 
$
12,503


$
3,114


$
(24,028
)

$
(4,750
)

 
 
Six Months Ended June 30, 2013
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Product
 
$
—

 
$
83,257

 
$
402,713

 
$
(9,088
)
 
$
476,882

Service
 
—

 
471

 
58,864

 
—

 
59,335

Other
 
—

 
—

 
75,723

 
—

 
75,723

Total revenues
 
—

 
83,728


537,300


(9,088
)

611,940

Expenses:
 
 
 
 
 
 
 
 
 

Costs of products sold, exclusive of depreciation and amortization shown below
 
—

 
61,156

 
373,010

 
(9,088
)
 
425,078

Operating
 
—

 
7,972

 
102,481

 
—

 
110,453

General and administrative
 
8,128

 
4,105

 
21,702

 
—

 
33,935

Depreciation and amortization
 
1,007

 
4,060

 
20,383

 
—

 
25,450

(Gain) loss on disposal of long-lived assets, net
 
—

 
3

 
(541
)
 
—

 
(538
)
Total expenses
 
9,135

 
77,296


517,035


(9,088
)

594,378

Earnings from equity method investments
 
37,245

 
38,343

 
21,100

 
(64,482
)
 
32,206

Operating income
 
28,110

 
44,775


41,365


(64,482
)

49,768

Other expenses (income):
 
 
 
 
 
 
 
 
 

Interest expense
 
(2,917
)
 
1,827

 
7,981

 
—

 
6,891

Foreign currency transaction gain
 
—

 
—

 
(516
)
 
—

 
(516
)
Other expense, net
 
29,443

 
158

 
2,499

 
—

 
32,100

Total other expenses, net
 
26,526

 
1,985


9,964


—


38,475

Income from continuing operations before income taxes
 
1,584

 
42,790


31,401


(64,482
)

11,293

Income tax (benefit) expense
 
(45,429
)
 
—

 
711

 
—

 
(44,718
)
Income from continuing operations
 
47,013

 
42,790


30,690


(64,482
)

56,011

Income from discontinued operations, net of income taxes
 
—

 
66

 
1

 
—

 
67

Net income
 
47,013

 
42,856


30,691


(64,482
)

56,078

Less: net income attributable to noncontrolling interests
 
—

 
—

 
9,065

 
—

 
9,065

Net income attributable to SemGroup
 
$
47,013

 
$
42,856


$
21,626


$
(64,482
)

$
47,013

Net income
 
$
47,013

 
$
42,856


$
30,691


$
(64,482
)

$
56,078

Other comprehensive income (loss), net of income taxes
 
2,352

 
—

 
(12,764
)
 
—

 
(10,412
)
Comprehensive income
 
49,365

 
42,856


17,927


(64,482
)

45,666

Less: comprehensive income attributable to noncontrolling interests
 
—

 
—


9,065


—


9,065

Comprehensive income attributable to SemGroup
 
$
49,365

 
$
42,856


$
8,862


$
(64,482
)

$
36,601


 
 
Six Months Ended June 30, 2012
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Product
 
$
—

 
$
57,377

 
$
447,098

 
$
(5,269
)
 
$
499,206

Service
 
—

 
669

 
56,259

 
—

 
56,928

Other
 
—

 
7

 
87,667

 
—

 
87,674

Total revenues
 
—

 
58,053


591,024


(5,269
)

643,808

Expenses:
 
 
 
 
 
 
 
 
 

Costs of products sold, exclusive of depreciation and amortization shown below
 
—

 
45,391

 
421,335

 
(5,269
)
 
461,457

Operating
 
—

 
6,200

 
114,180

 
—

 
120,380

General and administrative
 
12,688

 
3,323

 
20,380

 
—

 
36,391

Depreciation and amortization
 
1,310

 
3,058

 
19,239

 
—

 
23,607

Loss on disposal of long-lived assets, net
 
—

 
—

 
119

 
—

 
119

Total expenses
 
13,998

 
57,972


575,253


(5,269
)

641,954

Earnings from equity method investments
 
22,512

 
24,669

 
15,042

 
(42,436
)
 
19,787

Operating income
 
8,514

 
24,750


30,813


(42,436
)

21,641

Other expenses (income):
 
 
 
 
 
 
 
 
 

Interest expense
 
(198
)
 
1,315

 
7,265

 
(2,609
)
 
5,773

Foreign currency transaction loss
 
—

 
—

 
2

 
—

 
2

Other expense, net
 
4,750

 
31

 
38

 
2,609

 
7,428

Total other expenses, net
 
4,552

 
1,346


7,305


—


13,203

Income from continuing operations before income taxes
 
3,962

 
23,404


23,508


(42,436
)

8,438

Income tax expense (benefit)
 
190

 
—

 
(1,294
)
 
—

 
(1,104
)
Income from continuing operations
 
3,772

 
23,404


24,802


(42,436
)

9,542

Income (loss) from discontinued operations, net of income taxes
 
2

 
—

 
(191
)
 
—

 
(189
)
Net income
 
3,774

 
23,404


24,611


(42,436
)

9,353

Less: net income attributable to noncontrolling interests
 
—

 
—

 
5,579

 
—

 
5,579

Net income attributable to SemGroup
 
$
3,774

 
$
23,404


$
19,032


$
(42,436
)

$
3,774

Net income
 
$
3,774

 
$
23,404


$
24,611


$
(42,436
)

$
9,353

Other comprehensive income (loss), net of income taxes
 
(491
)
 
—

 
3,349

 
—

 
2,858

Comprehensive income
 
3,283

 
23,404


27,960


(42,436
)

12,211

Less: comprehensive income attributable to noncontrolling interests
 
—

 
—

 
5,579

 
—

 
5,579

Comprehensive income attributable to SemGroup
 
$
3,283

 
$
23,404


$
22,381


$
(42,436
)

$
6,632



Condensed Consolidating Guarantor Statements of Cash Flows
 
 
Six Months Ended June 30, 2013
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Net cash provided by operating activities
 
14,394

 
(1,839
)
 
39,478

 
3,403

 
55,436

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 

Capital expenditures
 
(442
)
 
(36,531
)
 
(22,904
)
 
—

 
(59,877
)
Proceeds from sale of long-lived assets
 
—

 
3

 
541

 
—

 
544

Proceeds from the sale of interest in SemCrude Pipeline, L.L.C. to Rose Rock Midstream L.P.
 
189,500

 
—

 
—

 
(189,500
)
 
—

Investments in non-consolidated subsidiaries
 
—

 
(21,290
)
 
(60,321
)
 
—

 
(81,611
)
Distributions in excess of equity in earnings of affiliates
 
—

 
—

 
5,582

 
—

 
5,582

Net cash used in investing activities
 
189,058


(57,818
)

(77,102
)

(189,500
)
 
(135,362
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 

Debt issuance costs
 
(8,651
)
 
—

 
(1,612
)
 
—

 
(10,263
)
Borrowings on credit facilities
 
394,500

 
—

 
255,474

 
—

 
649,974

Principal payments on credit facilities and other obligations
 
(296,000
)
 
—

 
(89,012
)
 
—

 
(385,012
)
Proceeds from issuance of Rose Rock Midstream, L.P. common units, net of offering costs
 
—

 
—

 
57,751

 
—

 
57,751

Distributions to noncontrolling interests
 
—

 
—

 
(7,496
)
 
—

 
(7,496
)
Proceeds from warrant exercises
 
224

 
—

 
—

 
—

 
224

Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation
 
(371
)
 
—

 
—

 
—

 
(371
)
Dividends paid
 
(7,939
)
 
—

 
—

 
—

 
(7,939
)
Intercompany borrowings (advances), net
 
(69,606
)
 
59,657

 
(174,866
)
 
184,815

 
—

Net cash provided by financing activities
 
12,157

 
59,657


40,239


184,815

 
296,868

Effect of exchange rate changes on cash and cash equivalents
 
—

 
—

 
1,795

 
—

 
1,795

Change in cash and cash equivalents
 
215,609

 
—


4,410


(1,282
)
 
218,737

Cash and cash equivalents at beginning of period
 
19,123

 
—

 
63,844

 
(2,938
)
 
80,029

Cash and cash equivalents at end of period
 
$
234,732

 
$
—


$
68,254


$
(4,220
)
 
$
298,766


 
 
Six Months Ended June 30, 2012
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Net cash provided by operating activities
 
(1,004
)
 
214

 
32,711

 
(7,769
)
 
24,152

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
(928
)
 
(17,903
)
 
(24,686
)
 
—

 
(43,517
)
Proceeds from sale of long-lived assets
 
—

 
167

 
34

 
—

 
201

Investments in non-consolidated subsidiaries
 
(1,512
)
 
(1,935
)
 
—

 
—

 
(3,447
)
Distributions in excess of equity in earnings of affiliates
 
234

 
—

 
4,735

 
—

 
4,969

Net cash used in investing activities
 
(2,206
)
 
(19,671
)

(19,917
)

—

 
(41,794
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 

Debt issuance costs
 
(80
)
 
—

 
(52
)
 
—

 
(132
)
Borrowings on credit facilities
 
92,000

 
—

 
73,500

 
—

 
165,500

Principal payments on credit facilities and other obligations
 
(55,500
)
 
—

 
(98,740
)
 
—

 
(154,240
)
Proceeds from issuance of Rose Rock Midstream, L.P. common units, net of offering costs
 
—

 
—

 
—

 
—

 
—

Distributions to noncontrolling interests
 
—

 
—

 
(3,077
)
 
—

 
(3,077
)
Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation
 
(242
)
 
—

 
—

 
—

 
(242
)
Intercompany borrowing (advances), net
 
(30,836
)
 
19,457

 
1,783

 
9,596

 
—

Net cash provided by (used in) financing activities
 
5,342

 
19,457


(26,586
)

9,596

 
7,809

Effect of exchange rate changes on cash and cash equivalents
 
—

 
—

 
1,206

 
—

 
1,206

Change in cash and cash equivalents
 
2,132

 
—


(12,586
)

1,827

 
(8,627
)
Change in cash and cash equivalents included in discontinued operations
 
—

 
—

 
214

 
—

 
214

Change in cash and cash equivalents from continuing operations
 
2,132

 
—


(12,372
)

1,827

 
(8,413
)
Cash and cash equivalents at beginning of period
 
111

 
—

 
76,264

 
(2,762
)
 
73,613

Cash and cash equivalents at end of period
 
$
2,243

 
$
—


$
63,892


$
(935
)
 
$
65,200

Overview (Policies)
6 Months Ended
Jun. 30, 2013
Overview [Abstract]
 
Basis of presentation
Basis of presentationThe accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and the rules and regulations of the Securities and Exchange Commission. These financial statements include all normal and recurring adjustments that, in the opinion of management, are necessary to present fairly the financial position of the Company and the results of its operations and its cash flows. The accompanying condensed consolidated financial statements are unaudited. The condensed consolidated balance sheet at December 31, 2012 is derived from audited financial statements.Our condensed consolidated financial statements include the accounts of our controlled subsidiaries. All significant transactions between our consolidated subsidiaries have been eliminated.The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts and disclosures in the financial statements. Although management believes these estimates are reasonable, actual results could differ materially from these estimates. The results of operations for the three months and six months ended June 30, 2013, are not necessarily indicative of the results to be expected for the full year ending December 31, 2013.Pursuant to the rules and regulations of the Securities and Exchange Commission, the accompanying condensed consolidated financial statements do not include all of the information and notes normally included with financial statements prepared in accordance with accounting principles generally accepted in the United States. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2012, which are included in our Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission.Certain reclassifications have been made to conform previously reported balances to the current presentation, including the reclassification of prior periods to reflect the SemStream segment's Arizona operations as discontinued operations. Our significant accounting policies are consistent with those described in our Annual Report on Form 10-K for the year ended December 31, 2012. 
Recent accounting pronouncements
Text Block 
Recent accounting pronouncements 
Recent accounting pronouncements
On January 31, 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2013-01, "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities," which clarifies the scope of the offsetting disclosure requirements in ASU 2011-11, "Disclosures About Offsetting Assets and Liabilities." Under ASU 2013-01, the disclosure requirements apply to derivative instruments accounted for in accordance with Accounting Standards Codification ("ASC") 815, "Derivatives and Hedging," including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending arrangements that are either offset on the balance sheet or subject to an enforceable master netting arrangement or similar agreement. ASU 2013-01 is effective for fiscal years beginning on or after January 1, 2013, and interim periods within those years. Retrospective application is required for all comparative periods presented. We adopted this guidance in the first quarter of 2013. The impact of adoption was not material.
On February 5, 2013, the FASB issued ASU 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." This ASU adds new disclosure requirements for items reclassified out of accumulated other comprehensive income ("AOCI"). The ASU is intended to help entities improve the transparency of changes in other comprehensive income ("OCI") and items reclassified out of AOCI in their financial statements. It does not amend any existing requirements for reporting net income or OCI in the financial statements. We adopted this guidance in the first quarter of 2013. The impact of adoption was not material.
On February 28, 2013, the FASB issued ASU 2013-04, "Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force)." The ASU requires entities to “measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, as the sum of the following:
•the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors; and
•any additional amount the reporting entity expects to pay on behalf of its co-obligors.”
Required disclosures include a description of the joint and several arrangement and the total outstanding amount of the obligation for all joint parties. The ASU permits entities to aggregate disclosures (as opposed to providing separate disclosures for each joint and several obligation). These disclosure requirements are incremental to the existing related-party disclosure requirements in ASC 850, "Related Party Disclosures." The ASU is effective for public entities for all prior periods in fiscal years beginning on or after December 15, 2013, and interim reporting periods within those years. The Company will adopt this guidance in the first quarter of 2014. The impact is not expected to be material.
On March 4, 2013, the FASB issued ASU 2013-05, "Parent's Accounting for the Cumulative Translation Adjustment Upon Derecognition of Certain Subsidiaries or Groups of Assets Within a Foreign Entity or of an Investment in a Foreign Entity - a consensus of the FASB Emerging Issues Task Force”, which indicates that the entire amount of a cumulative translation adjustment ("CTA") related to an entity's investment in a foreign entity should be released when there has been a:
•
sale of a subsidiary or group of net assets within a foreign entity and the sale represents the substantially complete liquidation of the investment in the foreign entity;
•
loss of a controlling financial interest in an investment in a foreign entity (i.e., the foreign entity is deconsolidated); or
•
step acquisition for a foreign entity (i.e., when an entity has changed from applying the equity method for an investment in a foreign entity to consolidating the foreign entity).
The ASU does not change the requirement to release a pro rata portion of the CTA of the foreign entity into earnings for a partial sale of an equity method investment in a foreign entity. For public entities, this ASU is effective for fiscal years beginning on or after December 15, 2013, and interim periods within those years. The Company will adopt this guidance in the first quarter of 2014. The impact is not expected to be material.
Financial Instruments Financial Instruments (Policies)
Fair Value of Financial Instruments, Policy [Policy Text Block]
“Level 1” measurements use as inputs unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. These include commodity futures contracts that are traded on an exchange. These also include common stock warrants (Note 10) which are traded on the New York Stock Exchange.
“Level 2” measurements use as inputs market observable and corroborated prices for similar commodity derivative contracts. Assets and liabilities classified as Level 2 include over-the-counter (“OTC”) traded forward contracts and swaps.
“Level 3” measurements use as inputs information from a pricing service and internal valuation models incorporating observable and unobservable market data. These may include commodity derivatives, such as forwards and swaps for which there is not a highly liquid market, and therefore are not included in Level 2.
Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the measurement requires judgment and may affect the valuation of assets and liabilities and their placement within the fair value levels. At June 30, 2013, all of our physical fixed price forward purchases and sales contracts were being accounted for as normal purchases and normal sales.
Rose Rock Midstream, L.P. (Tables)
Quarterly Target Distributions 
Rose Rock intends to pay a minimum quarterly distribution of $0.3625 per unit, to the extent it has sufficient available cash, as defined in Rose Rock’s partnership agreement. Rose Rock’s partnership agreement requires Rose Rock to distribute all of its available cash each quarter in the following manner:
 
Total Quarterly Distributions
Per Unit Target Amount
 
Marginal Percentage
Interest in Distributions
 
Unitholders
 
General
Partner
 
Incentive
Distribution
Rights
Minimum Quarterly Distributions
 
 
 
 
 
 
$
0.362500

 
98.0
%
 
2.0
%
 
—

First Target Distribution
above
 
$
0.362500

 
up to
 
$
0.416875

 
98.0
%
 
2.0
%
 
—

Second Target Distribution
above
 
$
0.416875

 
up to
 
$
0.453125

 
85.0
%
 
2.0
%
 
13.0
%
Third Target Distribution
above
 
$
0.453125

 
up to
 
$
0.543750

 
75.0
%
 
2.0
%
 
23.0
%
Thereafter
 
 
 
 
above
 
$
0.543750

 
50.0
%
 
2.0
%
 
48.0
%
 
Distributions Paid and Declared 
The following table shows the distributions paid or declared for the six months ended June 30, 2013 and 2012 (in thousands, except for per unit amounts):
 
 
Record Date
Payment Date
Distribution
Per Unit
 
Distributions Paid/To Be Paid
Quarter Ended
 
SemGroup
Noncontrolling
Interest
Common Units
Total
Distributions
 
General
Partner
Incentive
Distributions
Common
Units
Subordinated
Units
December 31, 2011
*
February 3, 2012
February 13, 2012
$
0.0670

* 
$
23

$
—

$
93

$
561

$
470

$
1,147

March 31, 2012
 
May 7, 2012
May 15, 2012
$
0.3725

  
$
128

$
—

$
517

$
3,125

$
2,607

$
6,377

June 30, 2012
 
August 6, 2012
August 14, 2012
$
0.3825

 
$
131

$
—

$
532

$
3,209

$
2,678

$
6,550

December 31, 2012
 
February 4, 2013
February 14, 2013
$
0.4025

 
$
167

$
—

$
1,163

$
3,377

$
3,624

$
8,331

March 31, 2013
 
May 6, 2013
May 15, 2013
$
0.4300

 
$
179

$
41

$
1,242

$
3,607

$
3,872

$
8,941

June 30, 2013
**
August 5, 2013
August 14, 2013
$
0.4400

**
$
183

$
72

$
1,271

$
3,692

$
3,962

$
9,180

*Minimum quarterly distribution for quarter ended December 31, 2011 was prorated for the period beginning immediately after the closing of Rose Rock’s IPO, December 14, 2011 through December 31, 2011.
**Expected payment date and amounts for distributions related to the quarter ended June 30, 2013.
Summarized Balance Sheet Information 
Certain summarized balance sheet information of Rose Rock is shown below (in thousands):
 
(unaudited)
 
 
 
June 30,
2013
 
December 31,
2012
Cash
$
3,650

 
$
108

Other current assets
247,195

 
250,509

Property, plant and equipment, net
296,084

 
291,530

Equity method investment
66,037

 
—

Other noncurrent assets, net
3,792

 
2,579

Total assets
$
616,758

 
$
544,726

Current liabilities
$
223,158

 
$
231,843

Long-term debt
166,549

 
4,562

Partners’ capital attributable to SemGroup
128,774

 
179,187

Partners’ capital attributable to noncontrolling interests
98,277

 
129,134

Total liabilities and partners’ capital
$
616,758

 
$
544,726

Summarized Income Statement Information 
Certain summarized income statement information of Rose Rock for the three months and six months ended June 30, 2013 and 2012 is shown below (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Revenue
$
161,422

 
$
157,418

 
$
332,654

 
$
337,133

Cost of products sold
$
140,506

 
$
140,549

 
$
288,957

 
$
301,057

Operating, general and administrative expenses
$
9,061

 
$
8,267

 
$
18,040

 
$
16,197

Depreciation and amortization expense
$
3,690

 
$
2,999

 
$
7,197

 
$
5,966

Earnings from equity method investment
$
3,451

 
$
—

 
$
6,904

 
$
—

Net income
$
9,134

 
$
5,126

 
$
21,128

 
$
12,884

Investments In Non-Consolidated Subsidiaries (Tables)
Schedule of Equity Method Investments [Table Text Block] 
Our equity method investments consist of the following (in thousands):
 
June 30, 2013
 
December 31, 2012
White Cliffs
$
193,709

 
$
138,970

NGL Energy
176,816

 
174,398

Glass Mountain
95,714

 
74,434

Total equity method investments
$
466,239

 
$
387,802

Earnings from Equity Method Investments [Table Text Block] 
Our earnings from equity method investments consist of the following (in thousands):
    
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
White Cliffs
$
10,661

 
$
8,461

 
$
21,100

 
$
15,032

NGL Energy
4,200

 
3,828

 
11,116

 
4,755

Glass Mountain
—

 
—

 
(10
)
 
—

Total earnings from equity method investments
$
14,861

 
$
12,289

 
$
32,206

 
$
19,787

Cash distributions received from equity method investments [Table Text Block] 
Cash distributions received from equity methods investments consist of the following (in thousands):
    
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
White Cliffs
$
12,889

 
$
10,827

 
$
26,681

 
$
19,767

NGL Energy
4,426

 
1,812

 
8,698

 
2,972

Glass Mountain
—

 
—

 
—

 
—

Total cash distributions received from equity method investments
$
17,315

 
$
12,639

 
$
35,379

 
$
22,739

Schedule of Income Statement Information on Equity Method Investments 
Certain summarized income statement information of White Cliffs for the three months and six months ended June 30, 2013 and 2012 is shown below (in thousands):
    
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Revenue
$
30,112

 
$
25,732

 
$
60,785

 
$
48,388

Operating, general and administrative expenses
$
4,113

 
$
3,640

 
$
9,292

 
$
7,525

Depreciation and amortization expense
$
4,715

 
$
4,986

 
$
9,430

 
$
9,969

Net income
$
21,284

 
$
17,106

 
$
42,063

 
$
30,894

Schedule of Income Statement Information on Equity Method Investments 
Certain unaudited summarized income statement information of NGL Energy for the three months and six months ended March 31, 2013 and 2012 is shown below (in thousands):
 
Three Months Ended March 31,
 
Six Months Ended March 31,
 
2013

2012
 
2013
 
2012
Revenue
$
1,617,613

 
$
438,938

 
$
2,955,821

 
$
909,587

Cost of products sold
$
1,481,890

 
$
389,806

 
$
2,686,435

 
$
829,596

Operating, general and administrative expenses
$
74,632

 
$
25,901

 
$
139,325

 
$
42,717

Depreciation and amortization expense
$
27,518

 
$
6,631

 
$
46,265

 
$
12,033

Net income
$
22,341

 
$
13,942

 
$
62,818

 
$
20,032

Segments (Tables)
Schedule of Segment Reporting Information
 
Three Months Ended June 30, 2013
 
Crude

SemStream

SemCAMS

SemGas

SemLogistics

SemMexico

Corporate
and Other

Consolidated
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
External
$
161,422

 
$
—

 
$
66,459

 
$
41,908

 
$
2,623

 
$
51,832

 
$
—

 
$
324,244

Intersegment
—

 
—

 
—

 
5,018

 
—

 
—

 
(5,018
)
 
—

Total revenues
161,422

 
—

 
66,459

 
46,926

 
2,623

 
51,832

 
(5,018
)
 
324,244

Expenses:
 
 
 
 

 

 
 
 

 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
140,506

 
—

 
1

 
33,567

 
—

 
43,653

 
(5,018
)
 
212,709

Operating
5,691

 
—

 
55,508

 
4,289

 
1,848

 
2,346

 
—

 
69,682

General and administrative
3,568

 
160

 
3,342

 
1,598

 
1,486

 
2,443

 
4,301

 
16,898

Depreciation and amortization
3,690

 
—

 
2,638

 
2,233

 
2,313

 
1,458

 
482

 
12,814

Gain on disposal of long-lived assets, net
(25
)
 
—

 
—

 
(4
)
 
—

 
(347
)
 
—

 
(376
)
Total expenses
153,430

 
160


61,489


41,683


5,647


49,553


(235
)

311,727

Earnings from equity method investments
10,661

 
4,200

 
—

 
—

 
—

 
—

 
—

 
14,861

Operating income (loss)
18,653

 
4,040

 
4,970

 
5,243

 
(3,024
)
 
2,279

 
(4,783
)

27,378

Other expenses (income), net
4,120

 
(1,193
)
 
4,748

 
676

 
357

 
153

 
1,752

 
10,613

Income (loss) from continuing operations before income taxes
$
14,533

 
$
5,233

 
$
222

 
$
4,567

 
$
(3,381
)
 
$
2,126

 
$
(6,535
)

$
16,765

Total assets at June 30, 2013 (excluding intersegment receivables)
$
867,993

 
$
176,816

 
$
298,793

 
$
156,724

 
$
160,490

 
$
100,910

 
$
334,925

 
$
2,096,651


For the three months ended June 30, 2013, two customers from our Crude segment accounted for 14% and 11% of our total consolidated revenue, respectively.

 
Three Months Ended June 30, 2012
 
Crude
 
SemStream
 
SemCAMS
 
SemGas
 
SemLogistics
 
SemMexico
 
Corporate
and Other
 
Consolidated
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
External
$
157,418

 
$
—

 
$
79,683

 
$
23,580

 
$
2,613

 
$
68,483

 
$
—

 
$
331,777

Intersegment
—

 
—

 
—

 
2,554

 
—

 
—

 
(2,554
)
 
—

Total revenues
157,418

 
—


79,683


26,134


2,613


68,483


(2,554
)
 
331,777

Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Costs of products sold, exclusive of depreciation and amortization shown below
140,549

 
3

 
71

 
19,990

 
99

 
61,778

 
(2,554
)
 
219,936

Operating
6,462

 
(21
)
 
68,848

 
3,306

 
1,631

 
2,163

 
—

 
82,389

General and administrative
2,063

 
(1
)
 
2,632

 
1,394

 
1,448

 
2,541

 
6,484

 
16,561

Depreciation and amortization
2,999

 
—

 
2,673

 
1,726

 
2,334

 
1,517

 
633

 
11,882

Loss on disposal of long-lived assets, net
56

 
—

 
—

 
—

 
—

 
63

 
—

 
119

Total expenses
152,129

 
(19
)

74,224


26,416


5,512


68,062


4,563

 
330,887

Earnings from equity method investments
8,461

 
3,828

 
—

 
—

 
—

 
—

 
—

 
12,289

Operating income (loss)
13,750

 
3,847


5,459


(282
)

(2,899
)

421


(7,117
)
 
13,179

Other expenses (income), net
(383
)
 
7

 
5,352

 
770

 
189

 
425

 
(773
)
 
5,587

Income (loss) from continuing operations before income taxes
$
14,133

 
$
3,840


$
107


$
(1,052
)

$
(3,088
)

$
(4
)

$
(6,344
)
 
$
7,592


 
Six Months Ended June 30, 2013
 
Crude
 
SemStream
 
SemCAMS
 
SemGas
 
SemLogistics
 
SemMexico
 
Corporate
and Other
 
Consolidated
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
External
$
332,654

 
$
—

 
$
102,240

 
$
76,562

 
$
5,658

 
$
94,826

 
$
—

 
$
611,940

Intersegment
—

 
—

 
—

 
9,103

 
—

 
—

 
(9,103
)
 
—

Total revenues
332,654

 
—

 
102,240

 
85,665

 
5,658

 
94,826

 
(9,103
)
 
611,940

Expenses:
 
 
 
 

 

 
 
 

 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
288,957

 
—

 
184

 
62,738

 
—

 
82,302

 
(9,103
)
 
425,078

Operating
11,429

 
1

 
82,392

 
8,433

 
3,687

 
4,511

 
—

 
110,453

General and administrative
7,418

 
316

 
7,487

 
3,189

 
2,606

 
4,665

 
8,254

 
33,935

Depreciation and amortization
7,197

 
—

 
5,294

 
4,361

 
4,653

 
2,938

 
1,007

 
25,450

(Gain) loss on disposal of long-lived assets, net
(25
)
 
6

 
—

 
(6
)
 
—

 
(513
)
 
—

 
(538
)
Total expenses
314,976

 
323

 
95,357

 
78,715

 
10,946

 
93,903

 
158

 
594,378

Earnings from equity method investments
21,090

 
11,116

 
—

 
—

 
—

 
—

 
—

 
32,206

Operating income (loss)
38,768

 
10,793

 
6,883

 
6,950

 
(5,288
)
 
923

 
(9,261
)
 
49,768

Other expenses (income), net
7,291

 
(2,161
)
 
9,459

 
1,269

 
1,113

 
(318
)
 
21,822

 
38,475

Income (loss) from continuing operations before income taxes
$
31,477

 
$
12,954

 
$
(2,576
)
 
$
5,681

 
$
(6,401
)
 
$
1,241

 
$
(31,083
)
 
$
11,293


For the six months ended June 30, 2013, one customer from our Crude segment accounted for 13% of our total consolidated revenue.
 
Six Months Ended June 30, 2012
 
Crude
 
SemStream
 
SemCAMS
 
SemGas
 
SemLogistics
 
SemMexico
 
Corporate
and Other
 
Consolidated
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
External
$
337,133

 
$
6

 
$
114,848

 
$
54,290

 
$
6,397

 
$
131,134

 
$
—

 
$
643,808

Intersegment
—

 
—

 
—

 
5,284

 
—

 
—

 
(5,284
)
 
—

Total revenues
337,133

 
6

 
114,848

 
59,574

 
6,397

 
131,134

 
(5,284
)
 
643,808

Expenses:
 
 
 
 

 

 
 
 

 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
301,057

 
37

 
190

 
46,539

 
99

 
118,819

 
(5,284
)
 
461,457

Operating
11,916

 
(27
)
 
95,084

 
6,159

 
3,085

 
4,163

 
—

 
120,380

General and administrative
4,781

 
50

 
7,050

 
3,237

 
3,259

 
5,229

 
12,785

 
36,391

Depreciation and amortization
5,966

 
—

 
5,246

 
3,356

 
4,652

 
3,078

 
1,309

 
23,607

Loss on disposal of long-lived assets, net
56

 
—

 
—

 
—

 
—

 
63

 
—

 
119

Total expenses
323,776

 
60

 
107,570

 
59,291

 
11,095

 
131,352

 
8,810

 
641,954

Earnings from equity method investments
15,032

 
4,755

 
—

 
—

 
—

 
—

 
—

 
19,787

Operating income (loss)
28,389

 
4,701

 
7,278

 
283

 
(4,698
)
 
(218
)
 
(14,094
)
 
21,641

Other expenses (income), net
(620
)
 
45

 
10,555

 
1,302

 
1,468

 
315

 
138

 
13,203

Income (loss) from continuing operations before income taxes
$
29,009

 
$
4,656

 
$
(3,277
)
 
$
(1,019
)
 
$
(6,166
)
 
$
(533
)
 
$
(14,232
)
 
$
8,438


Inventories (Tables)
Components Of Inventories
Inventories consist of the following (in thousands):
 
June 30,
2013
 
December 31,
2012
Crude oil
$
21,740

 
$
24,840

Asphalt and other
12,629

 
9,593

Total inventories
$
34,369

 
$
34,433

Financial Instruments (Tables)
Fair Value of Financial Assets and Liabilities 
The tables below summarize the balances of these assets and liabilities at June 30, 2013 and December 31, 2012 (in thousands):

 
June 30, 2013
 
December 31, 2012
 
Level 1
 
Netting*
 
Total
 
Level 1
 
Netting*
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
 
Commodity derivatives
$
315

 
$
(54
)
 
$
261

 
$
22

 
$
(22
)
 
$
—

Total assets
315

 
(54
)
 
261

 
22

 
(22
)
 
—

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Commodity derivatives
$
54

 
$
(54
)
 
$
—

 
$
1,056

 
$
(22
)
 
$
1,034

Warrants
41,810

 
—

 
41,810

 
32,858

 
—

 
32,858

Total liabilities
41,864

 
(54
)
 
41,810

 
33,914

 
(22
)
 
33,892

Net assets (liabilities) at fair value
$
(41,549
)
 
$
—

 
$
(41,549
)
 
$
(33,892
)
 
$
—

 
$
(33,892
)
*Relates primarily to exchange traded futures. Gain and loss positions on multiple contracts are settled net on a daily basis with the exchange.
Schedule of Changes in Fair Value of Financial Assets (Liabilities) Classified as Level 3 
There were no financial assets or liabilities classified as Level 2 or Level 3 during the three months and six months ended June 30, 2013 and 2012, as such no rollforward of activity has been presented.
Schedule of Notional Quantities for Commodity Derivative Instruments 
The following table sets forth the unaudited notional quantities for commodity derivative instruments entered into (in thousands of barrels):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Sales
720

 
300

 
1,330

 
683

Purchases
615

 
235

 
1,290

 
686

Schedule of Not Designated Commodity Derivative Instruments Fair Value on Condensed Consolidated Balance Sheets 
We record the fair value of our commodity derivative instruments on our condensed consolidated balance sheets in other current assets and other current liabilities in the following amounts (in thousands):
 
June 30, 2013
 
December 31, 2012
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Commodity contracts
$
261

 
$
—

 
$
—

 
$
1,034

Schedule of Realized and Unrealized Gains (Losses) from Commodity Derivatives 
Realized and unrealized gains (losses) from our commodity derivatives were recorded to product revenue in the following amounts (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Commodity contracts
$
(233
)
 
$
1,415

 
$
(777
)
 
$
289

Long-Term Debt (Tables)
Summary of Long-Term Debt 
Our long-term debt consisted of the following (in thousands):
 
June 30,
2013
 
December 31,
2012
SemGroup 7.50% senior unsecured notes
$
300,000

 
$
—

SemGroup corporate revolving credit facility
—

 
201,500

Rose Rock credit facility
166,500

 
4,500

SemMexico credit facility
4,323

 
—

Capital leases
75

 
86

Total long-term debt
$
470,898

 
$
206,086

less: current portion of long-term debt
4,349

 
24

Noncurrent portion of long-term debt
$
466,549

 
$
206,062

Early Redemption Premium Percentages [Table Text Block] 
Year
 
Percentage
2016
 
105.625%
2017
 
103.750%
2018
 
101.875%
2019 and thereafter
 
100.000%
Commitments and Contingencies (Tables)
Summary Of Purchase And Sale Commitments
We account for derivatives at fair value with the exception of commitments which have been designated as normal purchases and sales for which we do not record assets or liabilities related to these agreements until the product is purchased or sold. At June 30, 2013, such commitments included the following (in thousands):
 
Volume
(Barrels)
 
Value
Fixed price purchases
150

 
$
13,434

Fixed price sales
150

 
$
14,318

Floating price purchases
18,933

 
$
1,772,366

Floating price sales
18,948

 
$
1,799,559

Equity (Tables)
Changes In Condensed Consolidated Owners' Equity 
The following table shows the changes in our consolidated owners’ equity accounts from December 31, 2012 to June 30, 2013 (in thousands):
 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury
Stock
 
Accumulated
Deficit
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Noncontrolling
Interests
 
Total
Owners’
Equity
Balance at December 31, 2012
$
420

 
$
1,039,189

 
$
(242
)
 
$
(145,674
)
 
$
(1,299
)
 
$
129,134

 
$
1,021,528

Net income
—

 
—

 
—

 
47,013

 
—

 
9,065

 
56,078

Other comprehensive income (loss), net of income taxes
—

 
—

 
—

 
—

 
(10,412
)
 
—

 
(10,412
)
Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
(7,496
)
 
(7,496
)
Rose Rock Midstream, L.P. equity issuance
—

 
—

 
—

 
—

 
—

 
57,751

 
57,751

Transfer of SemCrude Pipeline interest to Rose Rock*
—

 
56,800

 
—

 
—

 
—

 
(90,516
)
 
(33,716
)
Warrants settlements
4

 
23,460

 
—

 
—

 
—

 
—

 
23,464

Dividends paid
—

 
(7,939
)

—

 
—

 
—

 
—

 
(7,939
)
Unvested dividend equivalent rights
—

 
(25
)
 
—

 
—

 
—

 
(16
)
 
(41
)
Non-cash equity compensation
—

 
2,904

 
—

 
—

 
—

 
355

 
3,259

Issuance of common stock under compensation plans
1

 
(1
)
 
—

 
—

 
—

 
—

 
—

Repurchase of common stock
—

 
—

 
(371
)
 
—

 
—

 
—

 
(371
)
Balance at June 30, 2013
$
425

 
$
1,114,388

 
$
(613
)
 
$
(98,661
)
 
$
(11,711
)
 
$
98,277

 
$
1,102,105

Components of Accumulated Other Comprehensive Loss 
The following table presents the changes in the components of accumulated other comprehensive income (loss) from December 31, 2012 to June 30, 2013 (in thousands):
 
Currency
Translation
 
Employee
Benefit
Plans
 
Total
Balance at December 31, 2012
$
1,855

 
$
(3,154
)
 
$
(1,299
)
Currency translation adjustment
(10,504
)
 
—

 
(10,504
)
Changes related to benefit plans, net of income tax expense of $31
—

 
92

 
92

Balance at June 30, 2013
$
(8,649
)
 
$
(3,062
)
 
$
(11,711
)
Schedule of Common Stock Reflected On The Condensed Consolidated Balance Sheet 
The shares of common stock reflected on the condensed consolidated balance sheet at June 30, 2013 are summarized below:
Shares issued on Emergence Date
40,882,496

Shares subsequently issued in settlement of pre-petition claims
226,016

Remaining shares required to be issued in settlement of pre-petition claims
291,484

Issuance of shares under employee and director compensation programs(*)
689,320

Shares issued upon exercise of warrants
435,774

Total shares
42,525,090

Par value per share
$
0.01

Common stock on June 30, 2013 balance sheet (in thousands)
$
425

(*) These shares include 105,738 shares which vested during the six months ended June 30, 2013. Of these vested shares, recipients sold back to the Company 8,591 shares to satisfy tax withholding obligations which are being recognized at cost as treasury stock on the condensed consolidated balance sheet.
Schedule of Warrants Reflected On The Condensed Consolidated Balance Sheet 
The warrants reflected on the condensed consolidated balance sheet at June 30, 2013 are summarized below:
Warrants issued on Emergence Date
1,634,210

Warrants subsequently issued in settlement of pre-petition claims
237,897

Remaining warrants to be issued in settlement of pre-petition claims
306,840

Warrants exercised (*)
(808,114
)
Total warrants at June 30, 2013
1,370,833

Fair value per warrant at June 30, 2013
$
30.50

Warrant value included within other noncurrent liabilities on June 30, 2013 consolidated balance sheet
$
41,810,407

Earnings Per Share (Tables)
Basic earnings per share 
The following summarizes the calculation of basic earnings (loss) per share for the three months and six months ended June 30, 2013 and 2012 (in thousands, except per share amounts):

 
Three Months Ended June 30, 2013
 
Three Months Ended June 30, 2012
 
Continuing
Operations
 
Discontinued
Operations
 
Net
 
Continuing
Operations
 
Discontinued
Operations
 
Net
Income
$
7,477

 
$
35

 
$
7,512

 
$
7,684

 
$
(441
)
 
$
7,243

less: Income attributable to noncontrolling interests
3,943

 
—

 
3,943

 
2,096

 
—

 
2,096

Numerator
$
3,534

 
$
35

 
$
3,569

 
$
5,588

 
$
(441
)
 
$
5,147

Common stock issued and to be issued pursuant to Plan of Reorganization
41,400

 
41,400

 
41,400

 
41,400

 
41,400

 
41,400

Weighted average common stock outstanding issued under compensation plans and warrant exercises
811

 
811

 
811

 
534

 
534

 
534

Denominator
42,211

 
42,211

 
42,211

 
41,934

 
41,934

 
41,934

Basic earnings (loss) per share
$
0.08

 
$
—

 
$
0.08

 
$
0.13

 
$
(0.01
)
 
$
0.12


 
Six Months Ended June 30, 2013
 
Six Months Ended June 30, 2012
 
Continuing
Operations
 
Discontinued
Operations
 
Net
 
Continuing
Operations
 
Discontinued
Operations
 
Net
Income
$
56,011

 
$
67

 
$
56,078

 
$
9,542

 
$
(189
)
 
$
9,353

less: Income attributable to noncontrolling interests
9,065

 
—

 
9,065

 
5,579

 
—

 
5,579

Numerator
$
46,946

 
$
67

 
$
47,013

 
$
3,963

 
$
(189
)
 
$
3,774

Common stock issued and to be issued pursuant to Plan of Reorganization
41,400

 
41,400

 
41,400

 
41,400

 
41,400

 
41,400

Weighted average common stock outstanding issued under compensation plans and warrant exercises
745

 
745

 
745

 
520

 
520

 
520

Denominator
42,145

 
42,145

 
42,145

 
41,920

 
41,920

 
41,920

Basic earnings per share
$
1.11

 
$
—

 
$
1.12

 
$
0.09

 
$
—

 
$
0.09

Diluted earnings per share 
The following summarizes the calculation of diluted earnings (loss) per share for the three months and six months ended June 30, 2013 and 2012 (in thousands, except per share amounts):

 
Three Months Ended June 30, 2013
 
Three Months Ended June 30, 2012
 
Continuing
Operations
 
Discontinued
Operations
 
Net
 
Continuing
Operations
 
Discontinued
Operations
 
Net
Income
$
7,477

 
$
35

 
$
7,512

 
$
7,684

 
$
(441
)
 
$
7,243

less: Income attributable to noncontrolling interests
3,943

 
—

 
3,943

 
2,096

 
—

 
2,096

Numerator
$
3,534

 
$
35

 
$
3,569

 
$
5,588

 
$
(441
)
 
$
5,147

Common stock issued and to be issued pursuant to Plan of Reorganization
41,400

 
41,400

 
41,400

 
41,400

 
41,400

 
41,400

Weighted average common stock outstanding issued under compensation plans and warrant exercises
811

 
811

 
811

 
534

 
534

 
534

Effect of dilutive securities
315

 
315

 
315

 
199

 
199

 
199

Denominator
42,526

 
42,526

 
42,526

 
42,133

 
42,133

 
42,133

Diluted earnings (loss) per share
$
0.08

 
$
—

 
$
0.08

 
$
0.13

 
$
(0.01
)
 
$
0.12


 
Six Months Ended June 30, 2013
 
Six Months Ended June 30, 2012
 
Continuing
Operations
 
Discontinued
Operations
 
Net
 
Continuing
Operations
 
Discontinued
Operations
 
Net
Income
$
56,011

 
$
67

 
$
56,078

 
$
9,542

 
$
(189
)
 
$
9,353

less: Income attributable to noncontrolling interests
9,065

 
—

 
9,065

 
5,579

 
—

 
5,579

Numerator
$
46,946

 
$
67

 
$
47,013

 
$
3,963

 
$
(189
)
 
$
3,774

Common stock issued and to be issued pursuant to Plan of Reorganization
41,400

 
41,400

 
41,400

 
41,400

 
41,400

 
41,400

Weighted average common stock outstanding issued under compensation plans and warrant exercises
745

 
745

 
745

 
520

 
520

 
520

Effect of dilutive securities
279

 
279

 
279

 
176

 
176

 
176

Denominator
42,424

 
42,424

 
42,424

 
42,096

 
42,096

 
42,096

Diluted earnings per share
$
1.11

 
$
—

 
$
1.11

 
$
0.09

 
$
—

 
$
0.09

Supplemental Cash Flow Information (Tables)
Schedule of Changes in Operating Assets and Liabilities
The following table summarizes the changes in the components of operating assets and liabilities shown on our condensed consolidated statements of cash flows (in thousands):

 
Six Months Ended June 30,
 
2013
 
2012
Decrease (increase) in restricted cash
$
275

 
$
4,508

Decrease (increase) in accounts receivable
(12,512
)
 
(71,647
)
Decrease (increase) in receivable from affiliates
(2,416
)
 
648

Decrease (increase) in inventories
(237
)
 
9,944

Decrease (increase) in derivatives and margin deposits
972

 
702

Decrease (increase) in other current assets
839

 
3,825

Decrease (increase) in other assets
266

 
2,259

Increase (decrease) in accounts payable and accrued liabilities
7,229

 
42,802

Increase (decrease) in payable to affiliates
2

 
(5,622
)
Increase (decrease) in payables to pre-petition creditors
(424
)
 
(4,360
)
Increase (decrease) in other noncurrent liabilities
(3,323
)
 
(1,289
)
 
$
(9,329
)
 
$
(18,230
)
Related Party Transactions (Tables)
Related Party Transactions
During the three and six months ended June 30, 2013 and 2012, we generated the following transactions with NGL Energy (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Revenues
$
19,459

 
$
13,438

 
$
35,324

 
$
27,550

Purchases
$
—

 
$
12,677

 
$
—

 
$
30,564

Reimbursements from NGL Energy for transition services
$
48

 
$
131

 
$
96

 
$
498

Condensed Consolidating Guarantor Financial Statements (Tables)
Schedule of Condensed Balance Sheet [Table Text Block] 
Condensed Consolidating Guarantor Balance Sheets
 
 
June 30, 2013
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
234,732

 
$
—

 
$
68,254

 
$
(4,220
)
 
$
298,766

Restricted cash
 
33,050

 
—

 
1,282

 
—

 
34,332

Accounts receivable
 
1,325

 
8,172

 
338,180

 
—

 
347,677

Receivable from affiliates
 
671

 
10,344

 
—

 
(2,421
)
 
8,594

Inventories
 
—

 
267

 
34,102

 
—

 
34,369

Other current assets
 
3,016

 
447

 
12,822

 
—

 
16,285

Total current assets
 
272,794

 
19,230


454,640


(6,641
)

740,023

Property, plant and equipment
 
4,837

 
157,563

 
671,191

 
—

 
833,591

Equity method investments
 
1,081,478

 
484,868

 
193,709

 
(1,293,816
)
 
466,239

Goodwill
 
—

 
—

 
9,916

 
—

 
9,916

Other intangible assets
 
33

 
—

 
6,778

 
—

 
6,811

Other noncurrent assets, net
 
28,277

 
1,176

 
10,618

 
—

 
40,071

Total assets
 
$
1,387,419

 
$
662,837


$
1,346,852


$
(1,300,457
)

$
2,096,651

LIABILITIES AND OWNERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
318

 
$
17,505

 
$
235,149

 
$
—

 
$
252,972

Accrued liabilities
 
8,507

 
7,193

 
51,880

 
(1
)
 
67,579

Payables to pre-petition creditors
 
32,313

 
—

 
54

 
—

 
32,367

Deferred revenue
 
—

 
—

 
17,736

 
—

 
17,736

Other current liabilities
 
100

 
726

 
6,961

 
(42
)
 
7,745

Current portion of long-term debt
 
—

 
—

 
4,349

 
—

 
4,349

Total current liabilities
 
41,238

 
25,424

 
316,129

 
(43
)
 
382,748

Long-term debt
 
300,000

 
—

 
166,549

 
—

 
466,549

Deferred income taxes
 
535

 
—

 
55,412

 
—

 
55,947

Other noncurrent liabilities
 
41,818

 
—

 
47,484

 
—

 
89,302

Commitments and contingencies
 


 


 


 


 


Owners’ equity excluding noncontrolling interests in consolidated subsidiaries
 
1,003,828

 
637,413

 
663,001

 
(1,300,414
)
 
1,003,828

Noncontrolling interests in consolidated subsidiaries
 
—

 
—

 
98,277

 
—

 
98,277

Total owners’ equity
 
1,003,828

 
637,413


761,278


(1,300,414
)

1,102,105

Total liabilities and owners’ equity
 
$
1,387,419


$
662,837

 
$
1,346,852

 
$
(1,300,457
)
 
$
2,096,651


 
 
December 31, 2012
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
19,123

 
$
—

 
$
63,844

 
$
(2,938
)
 
$
80,029

Restricted cash
 
33,324

 
—

 
1,354

 
—

 
34,678

Accounts receivable
 
1,155

 
7,927

 
337,087

 
—

 
346,169

Receivable from affiliates
 
827

 
7,222

 
109

 
(1,980
)
 
6,178

Inventories
 
—

 
181

 
34,252

 
—

 
34,433

Other current assets
 
2,528

 
312

 
15,676

 
—

 
18,516

Total current assets
 
56,957

 
15,642


452,322


(4,918
)

520,003

Property, plant and equipment
 
5,399

 
122,899

 
686,426

 
—

 
814,724

Equity method investments
 
1,104,832

 
468,033

 
138,970

 
(1,324,033
)
 
387,802

Goodwill
 
—

 
—

 
9,884

 
—

 
9,884

Other intangible assets
 
36

 
—

 
7,549

 
—

 
7,585

Other noncurrent assets, net
 
3,606

 
1,317

 
3,258

 
—

 
8,181

Total assets
 
$
1,170,830

 
$
607,891


$
1,298,409


$
(1,328,951
)

$
1,748,179

LIABILITIES AND OWNERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
70

 
$
12,304

 
$
241,249

 
$
—

 
$
253,623

Accrued liabilities
 
8,972

 
4,546

 
50,313

 
—

 
63,831

Payables to pre-petition creditors
 
32,876

 
—

 
57

 
—

 
32,933

Deferred revenue
 
—

 
—

 
18,973

 
—

 
18,973

Other current liabilities
 
134

 
580

 
4,263

 
(17
)
 
4,960

Current portion of long-term debt
 
—

 
—

 
24

 
—

 
24

Total current liabilities
 
42,052

 
17,430

 
314,879

 
(17
)
 
374,344

Long-term debt
 
201,500

 
—

 
4,562

 
—

 
206,062

Deferred income taxes
 
2,018

 
—

 
63,602

 
—

 
65,620

Other noncurrent liabilities
 
32,866

 
—

 
47,759

 
—

 
80,625

Commitments and contingencies
 


 


 


 


 


Owners’ equity excluding noncontrolling interests in consolidated subsidiaries
 
892,394

 
590,461

 
738,473

 
(1,328,934
)
 
892,394

Noncontrolling interests in consolidated subsidiaries
 
—

 
—

 
129,134

 
—

 
129,134

Total owners’ equity
 
892,394

 
590,461


867,607


(1,328,934
)

1,021,528

Total liabilities and owners’ equity
 
$
1,170,830

 
$
607,891


$
1,298,409


$
(1,328,951
)

$
1,748,179

Schedule of Condensed Income Statement [Table Text Block] 
Condensed Consolidating Guarantor Statements of Operations
 
 
Three Months Ended June 30, 2013
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Product
 
$
—

 
$
45,623

 
$
200,649

 
$
(5,019
)
 
$
241,253

Service
 
—

 
223

 
31,455

 
—

 
31,678

Other
 
—

 
—

 
51,313

 
—

 
51,313

Total revenues
 
—

 
45,846


283,417


(5,019
)

324,244

Expenses:
 
 
 
 
 
 
 
 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
 
—

 
32,682

 
185,046

 
(5,019
)
 
212,709

Operating
 
—

 
4,001

 
65,681

 
—

 
69,682

General and administrative
 
4,210

 
2,069

 
10,619

 
—

 
16,898

Depreciation and amortization
 
482

 
2,082

 
10,250

 
—

 
12,814

Gain on disposal of long-lived assets, net
 
—

 
(5
)
 
(371
)
 
—

 
(376
)
Total expenses
 
4,692

 
40,829


271,225


(5,019
)

311,727

Earnings from equity method investments
 
20,358

 
19,796

 
10,661

 
(35,954
)
 
14,861

Operating income
 
15,666

 
24,813


22,853


(35,954
)

27,378

Other expenses (income):
 
 
 
 
 
 
 
 
 

Interest expense
 
(901
)
 
1,024

 
4,372

 
—

 
4,495

Foreign currency transaction gain
 
—

 
—

 
(349
)
 
—

 
(349
)
Other expense, net
 
5,009

 
—

 
1,458

 
—

 
6,467

Total other expenses, net
 
4,108

 
1,024


5,481


—


10,613

Income from continuing operations before income taxes
 
11,558

 
23,789


17,372


(35,954
)

16,765

Income tax expense
 
7,989

 
—

 
1,299

 
—

 
9,288

Income from continuing operations
 
3,569

 
23,789


16,073


(35,954
)

7,477

Income (loss) from discontinued operations, net of income taxes
 
—

 
36

 
(1
)
 
—

 
35

Net income
 
3,569

 
23,825


16,072


(35,954
)

7,512

Less: net income attributable to noncontrolling interests
 
—

 
—

 
3,943

 
—

 
3,943

Net income attributable to SemGroup
 
$
3,569

 
$
23,825


$
12,129


$
(35,954
)

$
3,569

Net income
 
$
3,569

 
$
23,825


$
16,072


$
(35,954
)

$
7,512

Other comprehensive income (loss), net of income taxes
 
936

 
—

 
(6,290
)
 
—

 
(5,354
)
Comprehensive income
 
4,505

 
23,825


9,782


(35,954
)

2,158

Less: comprehensive income attributable to noncontrolling interests
 
—

 
—


3,943


—


3,943

Comprehensive income (loss) attributable to SemGroup
 
$
4,505

 
$
23,825


$
5,839


$
(35,954
)

$
(1,785
)
 
 
Three Months Ended June 30, 2012
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Product
 
$
—

 
$
25,114

 
$
214,996

 
$
(2,539
)
 
$
237,571

Service
 
—

 
317

 
29,298

 
—

 
29,615

Other
 
—

 
—

 
64,591

 
—

 
64,591

Total revenues
 
—

 
25,431


308,885


(2,539
)

331,777

Expenses:
 
 
 
 
 
 
 
 
 

Costs of products sold, exclusive of depreciation and amortization shown below
 
—

 
19,473

 
203,002

 
(2,539
)
 
219,936

Operating
 
—

 
3,349

 
79,040

 
—

 
82,389

General and administrative
 
6,459

 
1,414

 
8,688

 
—

 
16,561

Depreciation and amortization
 
634

 
1,576

 
9,672

 
—

 
11,882

Loss on disposal of long-lived assets, net
 
—

 
—

 
119

 
—

 
119

Total expenses
 
7,093

 
25,812


300,521


(2,539
)

330,887

Earnings from equity method investments
 
14,188

 
13,659

 
8,470

 
(24,028
)
 
12,289

Operating income
 
7,095

 
13,278


16,834


(24,028
)

13,179

Other expenses (income):
 
 
 
 
 
 
 
 
 

Interest expense
 
(231
)
 
770

 
2,983

 
(1,408
)
 
2,114

Foreign currency transaction gain
 
—

 
—

 
(35
)
 
—

 
(35
)
Other expense, net
 
2,085

 
5

 
10

 
1,408

 
3,508

Total other expenses, net
 
1,854

 
775


2,958


—


5,587

Income from continuing operations before income taxes
 
5,241

 
12,503


13,876


(24,028
)

7,592

Income tax expense (benefit)
 
95

 
—

 
(187
)
 
—

 
(92
)
Income (loss) from continuing operations
 
5,146

 
12,503


14,063


(24,028
)

7,684

Income (loss) from discontinued operations, net of income taxes
 
1

 
—

 
(442
)
 
—

 
(441
)
Net income
 
5,147

 
12,503


13,621


(24,028
)

7,243

Less: net income attributable to noncontrolling interests
 
—

 
—

 
2,096

 
—

 
2,096

Net income attributable to SemGroup
 
$
5,147

 
$
12,503


$
11,525


$
(24,028
)

$
5,147

Net income
 
$
5,147

 
$
12,503


$
13,621


$
(24,028
)

$
7,243

Other comprehensive loss, net of income taxes
 
(1,486
)
 
—

 
(8,411
)
 
—

 
(9,897
)
Comprehensive income (loss)
 
3,661

 
12,503


5,210


(24,028
)

(2,654
)
Less: comprehensive income attributable to noncontrolling interests
 
—

 
—

 
2,096

 
—

 
2,096

Comprehensive income (loss) attributable to SemGroup
 
$
3,661

 
$
12,503


$
3,114


$
(24,028
)

$
(4,750
)

 
 
Six Months Ended June 30, 2013
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Product
 
$
—

 
$
83,257

 
$
402,713

 
$
(9,088
)
 
$
476,882

Service
 
—

 
471

 
58,864

 
—

 
59,335

Other
 
—

 
—

 
75,723

 
—

 
75,723

Total revenues
 
—

 
83,728


537,300


(9,088
)

611,940

Expenses:
 
 
 
 
 
 
 
 
 

Costs of products sold, exclusive of depreciation and amortization shown below
 
—

 
61,156

 
373,010

 
(9,088
)
 
425,078

Operating
 
—

 
7,972

 
102,481

 
—

 
110,453

General and administrative
 
8,128

 
4,105

 
21,702

 
—

 
33,935

Depreciation and amortization
 
1,007

 
4,060

 
20,383

 
—

 
25,450

(Gain) loss on disposal of long-lived assets, net
 
—

 
3

 
(541
)
 
—

 
(538
)
Total expenses
 
9,135

 
77,296


517,035


(9,088
)

594,378

Earnings from equity method investments
 
37,245

 
38,343

 
21,100

 
(64,482
)
 
32,206

Operating income
 
28,110

 
44,775


41,365


(64,482
)

49,768

Other expenses (income):
 
 
 
 
 
 
 
 
 

Interest expense
 
(2,917
)
 
1,827

 
7,981

 
—

 
6,891

Foreign currency transaction gain
 
—

 
—

 
(516
)
 
—

 
(516
)
Other expense, net
 
29,443

 
158

 
2,499

 
—

 
32,100

Total other expenses, net
 
26,526

 
1,985


9,964


—


38,475

Income from continuing operations before income taxes
 
1,584

 
42,790


31,401


(64,482
)

11,293

Income tax (benefit) expense
 
(45,429
)
 
—

 
711

 
—

 
(44,718
)
Income from continuing operations
 
47,013

 
42,790


30,690


(64,482
)

56,011

Income from discontinued operations, net of income taxes
 
—

 
66

 
1

 
—

 
67

Net income
 
47,013

 
42,856


30,691


(64,482
)

56,078

Less: net income attributable to noncontrolling interests
 
—

 
—

 
9,065

 
—

 
9,065

Net income attributable to SemGroup
 
$
47,013

 
$
42,856


$
21,626


$
(64,482
)

$
47,013

Net income
 
$
47,013

 
$
42,856


$
30,691


$
(64,482
)

$
56,078

Other comprehensive income (loss), net of income taxes
 
2,352

 
—

 
(12,764
)
 
—

 
(10,412
)
Comprehensive income
 
49,365

 
42,856


17,927


(64,482
)

45,666

Less: comprehensive income attributable to noncontrolling interests
 
—

 
—


9,065


—


9,065

Comprehensive income attributable to SemGroup
 
$
49,365

 
$
42,856


$
8,862


$
(64,482
)

$
36,601


 
 
Six Months Ended June 30, 2012
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Product
 
$
—

 
$
57,377

 
$
447,098

 
$
(5,269
)
 
$
499,206

Service
 
—

 
669

 
56,259

 
—

 
56,928

Other
 
—

 
7

 
87,667

 
—

 
87,674

Total revenues
 
—

 
58,053


591,024


(5,269
)

643,808

Expenses:
 
 
 
 
 
 
 
 
 

Costs of products sold, exclusive of depreciation and amortization shown below
 
—

 
45,391

 
421,335

 
(5,269
)
 
461,457

Operating
 
—

 
6,200

 
114,180

 
—

 
120,380

General and administrative
 
12,688

 
3,323

 
20,380

 
—

 
36,391

Depreciation and amortization
 
1,310

 
3,058

 
19,239

 
—

 
23,607

Loss on disposal of long-lived assets, net
 
—

 
—

 
119

 
—

 
119

Total expenses
 
13,998

 
57,972


575,253


(5,269
)

641,954

Earnings from equity method investments
 
22,512

 
24,669

 
15,042

 
(42,436
)
 
19,787

Operating income
 
8,514

 
24,750


30,813


(42,436
)

21,641

Other expenses (income):
 
 
 
 
 
 
 
 
 

Interest expense
 
(198
)
 
1,315

 
7,265

 
(2,609
)
 
5,773

Foreign currency transaction loss
 
—

 
—

 
2

 
—

 
2

Other expense, net
 
4,750

 
31

 
38

 
2,609

 
7,428

Total other expenses, net
 
4,552

 
1,346


7,305


—


13,203

Income from continuing operations before income taxes
 
3,962

 
23,404


23,508


(42,436
)

8,438

Income tax expense (benefit)
 
190

 
—

 
(1,294
)
 
—

 
(1,104
)
Income from continuing operations
 
3,772

 
23,404


24,802


(42,436
)

9,542

Income (loss) from discontinued operations, net of income taxes
 
2

 
—

 
(191
)
 
—

 
(189
)
Net income
 
3,774

 
23,404


24,611


(42,436
)

9,353

Less: net income attributable to noncontrolling interests
 
—

 
—

 
5,579

 
—

 
5,579

Net income attributable to SemGroup
 
$
3,774

 
$
23,404


$
19,032


$
(42,436
)

$
3,774

Net income
 
$
3,774

 
$
23,404


$
24,611


$
(42,436
)

$
9,353

Other comprehensive income (loss), net of income taxes
 
(491
)
 
—

 
3,349

 
—

 
2,858

Comprehensive income
 
3,283

 
23,404


27,960


(42,436
)

12,211

Less: comprehensive income attributable to noncontrolling interests
 
—

 
—

 
5,579

 
—

 
5,579

Comprehensive income attributable to SemGroup
 
$
3,283

 
$
23,404


$
22,381


$
(42,436
)

$
6,632

Schedule of Condensed Cash Flow Statement [Table Text Block] 
Condensed Consolidating Guarantor Statements of Cash Flows
 
 
Six Months Ended June 30, 2013
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Net cash provided by operating activities
 
14,394

 
(1,839
)
 
39,478

 
3,403

 
55,436

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 

Capital expenditures
 
(442
)
 
(36,531
)
 
(22,904
)
 
—

 
(59,877
)
Proceeds from sale of long-lived assets
 
—

 
3

 
541

 
—

 
544

Proceeds from the sale of interest in SemCrude Pipeline, L.L.C. to Rose Rock Midstream L.P.
 
189,500

 
—

 
—

 
(189,500
)
 
—

Investments in non-consolidated subsidiaries
 
—

 
(21,290
)
 
(60,321
)
 
—

 
(81,611
)
Distributions in excess of equity in earnings of affiliates
 
—

 
—

 
5,582

 
—

 
5,582

Net cash used in investing activities
 
189,058


(57,818
)

(77,102
)

(189,500
)
 
(135,362
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 

Debt issuance costs
 
(8,651
)
 
—

 
(1,612
)
 
—

 
(10,263
)
Borrowings on credit facilities
 
394,500

 
—

 
255,474

 
—

 
649,974

Principal payments on credit facilities and other obligations
 
(296,000
)
 
—

 
(89,012
)
 
—

 
(385,012
)
Proceeds from issuance of Rose Rock Midstream, L.P. common units, net of offering costs
 
—

 
—

 
57,751

 
—

 
57,751

Distributions to noncontrolling interests
 
—

 
—

 
(7,496
)
 
—

 
(7,496
)
Proceeds from warrant exercises
 
224

 
—

 
—

 
—

 
224

Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation
 
(371
)
 
—

 
—

 
—

 
(371
)
Dividends paid
 
(7,939
)
 
—

 
—

 
—

 
(7,939
)
Intercompany borrowings (advances), net
 
(69,606
)
 
59,657

 
(174,866
)
 
184,815

 
—

Net cash provided by financing activities
 
12,157

 
59,657


40,239


184,815

 
296,868

Effect of exchange rate changes on cash and cash equivalents
 
—

 
—

 
1,795

 
—

 
1,795

Change in cash and cash equivalents
 
215,609

 
—


4,410


(1,282
)
 
218,737

Cash and cash equivalents at beginning of period
 
19,123

 
—

 
63,844

 
(2,938
)
 
80,029

Cash and cash equivalents at end of period
 
$
234,732

 
$
—


$
68,254


$
(4,220
)
 
$
298,766


 
 
Six Months Ended June 30, 2012
 
 
Parent
 
Guarantors
 
Non-guarantors
 
Consolidating Adjustments
 
Consolidated
Net cash provided by operating activities
 
(1,004
)
 
214

 
32,711

 
(7,769
)
 
24,152

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
(928
)
 
(17,903
)
 
(24,686
)
 
—

 
(43,517
)
Proceeds from sale of long-lived assets
 
—

 
167

 
34

 
—

 
201

Investments in non-consolidated subsidiaries
 
(1,512
)
 
(1,935
)
 
—

 
—

 
(3,447
)
Distributions in excess of equity in earnings of affiliates
 
234

 
—

 
4,735

 
—

 
4,969

Net cash used in investing activities
 
(2,206
)
 
(19,671
)

(19,917
)

—

 
(41,794
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 

Debt issuance costs
 
(80
)
 
—

 
(52
)
 
—

 
(132
)
Borrowings on credit facilities
 
92,000

 
—

 
73,500

 
—

 
165,500

Principal payments on credit facilities and other obligations
 
(55,500
)
 
—

 
(98,740
)
 
—

 
(154,240
)
Proceeds from issuance of Rose Rock Midstream, L.P. common units, net of offering costs
 
—

 
—

 
—

 
—

 
—

Distributions to noncontrolling interests
 
—

 
—

 
(3,077
)
 
—

 
(3,077
)
Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation
 
(242
)
 
—

 
—

 
—

 
(242
)
Intercompany borrowing (advances), net
 
(30,836
)
 
19,457

 
1,783

 
9,596

 
—

Net cash provided by (used in) financing activities
 
5,342

 
19,457


(26,586
)

9,596

 
7,809

Effect of exchange rate changes on cash and cash equivalents
 
—

 
—

 
1,206

 
—

 
1,206

Change in cash and cash equivalents
 
2,132

 
—


(12,586
)

1,827

 
(8,627
)
Change in cash and cash equivalents included in discontinued operations
 
—

 
—

 
214

 
—

 
214

Change in cash and cash equivalents from continuing operations
 
2,132

 
—


(12,372
)

1,827

 
(8,413
)
Cash and cash equivalents at beginning of period
 
111

 
—

 
76,264

 
(2,762
)
 
73,613

Cash and cash equivalents at end of period
 
$
2,243

 
$
—


$
63,892


$
(935
)
 
$
65,200

Rose Rock Midstream, L.P. (Details 1)
3 Months Ended
Jun. 30, 2013
Minimum Quarterly Distributions [Member]
 
Quarterly Target Distributions
 
Marginal Percentage Interest, Unitholders
98.00% 
Marginal Percentage Interest, General Partner
2.00% 
Marginal Percentage Interest, Incentive Distribution Rights
0.00% 
Minimum Quarterly Distributions [Member] |
Minimum [Member]
 
Quarterly Target Distributions
 
Quarterly Distributions, Per Unit Target Amounts
0.3625 
First Target Distribution [Member]
 
Quarterly Target Distributions
 
Marginal Percentage Interest, Unitholders
98.00% 
Marginal Percentage Interest, General Partner
2.00% 
Marginal Percentage Interest, Incentive Distribution Rights
0.00% 
First Target Distribution [Member] |
Minimum [Member]
 
Quarterly Target Distributions
 
Quarterly Distributions, Per Unit Target Amounts
0.3625 
First Target Distribution [Member] |
Maximum [Member]
 
Quarterly Target Distributions
 
Quarterly Distributions, Per Unit Target Amounts
0.416875 
Second Target Distribution [Member]
 
Quarterly Target Distributions
 
Marginal Percentage Interest, Unitholders
85.00% 
Marginal Percentage Interest, General Partner
2.00% 
Marginal Percentage Interest, Incentive Distribution Rights
13.00% 
Second Target Distribution [Member] |
Minimum [Member]
 
Quarterly Target Distributions
 
Quarterly Distributions, Per Unit Target Amounts
0.416875 
Second Target Distribution [Member] |
Maximum [Member]
 
Quarterly Target Distributions
 
Quarterly Distributions, Per Unit Target Amounts
0.453125 
Third Target Distribution [Member]
 
Quarterly Target Distributions
 
Marginal Percentage Interest, Unitholders
75.00% 
Marginal Percentage Interest, General Partner
2.00% 
Marginal Percentage Interest, Incentive Distribution Rights
23.00% 
Third Target Distribution [Member] |
Minimum [Member]
 
Quarterly Target Distributions
 
Quarterly Distributions, Per Unit Target Amounts
0.453125 
Third Target Distribution [Member] |
Maximum [Member]
 
Quarterly Target Distributions
 
Quarterly Distributions, Per Unit Target Amounts
0.54375 
Thereafter [Member]
 
Quarterly Target Distributions
 
Marginal Percentage Interest, Unitholders
50.00% 
Marginal Percentage Interest, General Partner
2.00% 
Marginal Percentage Interest, Incentive Distribution Rights
48.00% 
Thereafter [Member] |
Minimum [Member]
 
Quarterly Target Distributions
 
Quarterly Distributions, Per Unit Target Amounts
0.54375 
Rose Rock Midstream, L.P. (Details 2) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Distributions paid or to be paid
 
 
 
 
 
 
Distribution per unit
$ 0.4400 1
$ 0.4300 
$ 0.4025 
$ 0.3825 
$ 0.3725 
$ 0.0670 2
Record Date
Aug. 05, 2013 
May 06, 2013 
Feb. 04, 2013 
Aug. 06, 2012 
May 07, 2012 
Feb. 03, 2012 
Distribution Date
Aug. 14, 2013 
May 15, 2013 
Feb. 14, 2013 
Aug. 14, 2012 
May 15, 2012 
Feb. 13, 2012 
Partners' Capital Account, Distributions
$ 9,180 
$ 8,941 
$ 8,331 
$ 6,550 
$ 6,377 
$ 1,147 
SemGroup [Member] |
Common Units [Member]
 
 
 
 
 
 
Distributions paid or to be paid
 
 
 
 
 
 
Limited partner distributions
1,271 
1,242 
1,163 
532 
517 
93 
SemGroup [Member] |
Subordinated Units [Member]
 
 
 
 
 
 
Distributions paid or to be paid
 
 
 
 
 
 
Limited partner distributions
3,692 
3,607 
3,377 
3,209 
3,125 
561 
Noncontrolling Interest [Member]
 
 
 
 
 
 
Distributions paid or to be paid
 
 
 
 
 
 
Limited partner distributions
3,962 
3,872 
3,624 
2,678 
2,607 
470 
SemGroup [Member]
 
 
 
 
 
 
Distributions paid or to be paid
 
 
 
 
 
 
General partner distributions
183 
179 
167 
131 
128 
23 
Incentive distributions
$ 72 
$ 41 
$ 0 
$ 0 
$ 0 
$ 0 
Rose Rock Midstream, L.P. (Details 3) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Summarized Balance Sheet Information
 
 
Other current assets
$ 16,285 
$ 18,516 
Property, plant and equipment, net
833,591 
814,724 
Equity method investment
466,239 
387,802 
Other noncurrent assets, net
40,071 
8,181 
Total assets
2,096,651 
1,748,179 
Current liabilities
382,748 
374,344 
Long-term debt
466,549 
206,062 
Partners' capital attributable to SemGroup
1,003,828 
892,394 
Partners' capital attributable to noncontrolling interests
98,277 
129,134 
Total liabilities and owners' equity
2,096,651 
1,748,179 
Rose Rock Midstream, L.P. [Member]
 
 
Summarized Balance Sheet Information
 
 
Cash
3,650 
108 
Other current assets
247,195 
250,509 
Property, plant and equipment, net
296,084 
291,530 
Equity method investment
66,037 
0 
Other noncurrent assets, net
3,792 
2,579 
Total assets
616,758 
544,726 
Current liabilities
223,158 
231,843 
Long-term debt
166,549 
4,562 
Partners' capital attributable to SemGroup
128,774 
179,187 
Partners' capital attributable to noncontrolling interests
98,277 
129,134 
Total liabilities and owners' equity
$ 616,758 
$ 544,726 
Rose Rock Midstream, L.P. (Details 4) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Summarized Income Statement Information
 
 
 
 
Revenue
$ 324,244 
$ 331,777 
$ 611,940 
$ 643,808 
Cost of products sold
212,709 
219,936 
425,078 
461,457 
Depreciation and amortization
 
 
25,450 
23,935 
Net income
7,512 
7,243 
56,078 
9,353 
Earnings from equity method investments
14,861 
12,289 
32,206 
19,787 
Net Income
3,569 
5,147 
47,013 
3,774 
Rose Rock Midstream, L.P. [Member]
 
 
 
 
Summarized Income Statement Information
 
 
 
 
Revenue
161,422 
157,418 
332,654 
337,133 
Cost of products sold
140,506 
140,549 
288,957 
301,057 
Operating, general and administrative expenses
9,061 
8,267 
18,040 
16,197 
Depreciation and amortization
3,690 
2,999 
7,197 
5,966 
Earnings from equity method investments
3,451 
0 
6,904 
0 
Net Income
$ 9,134 
$ 5,126 
$ 21,128 
$ 12,884 
Rose Rock Midstream, L.P. (Details Textual) (USD $)
3 Months Ended 6 Months Ended 0 Months Ended 6 Months Ended 0 Months Ended 6 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2013
mi
Jun. 30, 2013
Jun. 30, 2013
Common Units [Member]
Jun. 30, 2013
Class A [Member]
Jun. 30, 2013
Subordinated Units [Member]
Jan. 11, 2013
SemCrude Pipeline [Member]
Jan. 11, 2013
Rose Rock Midstream, L.P. [Member]
Jun. 30, 2013
Rose Rock Midstream, L.P. [Member]
Jan. 11, 2013
Rose Rock Midstream, L.P. [Member]
Common Units [Member]
Jan. 11, 2013
Rose Rock Midstream, L.P. [Member]
Class A [Member]
Jan. 11, 2013
Rose Rock Midstream, L.P. [Member]
Private Placement [Member]
Jan. 11, 2013
Rose Rock Midstream, L.P. [Member]
Private Placement [Member]
Common Units [Member]
Jan. 11, 2013
White Cliffs Pipeline, L.L.C. [Member]
bbl
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
mi
Jun. 30, 2013
SemCrude Pipeline [Member]
Jan. 11, 2013
SemCrude Pipeline [Member]
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2013
Revolving Credit Facility [Member]
Rose Rock Midstream, L.P. [Member]
Jan. 13, 2013
Revolving Credit Facility [Member]
Rose Rock Midstream, L.P. [Member]
Dec. 31, 2012
Revolving Credit Facility [Member]
Rose Rock Credit Facility [Member]
Rose Rock Midstream, L.P. [Member]
Jun. 30, 2013
Limited Partner [Member]
Rose Rock Midstream, L.P. [Member]
Jun. 30, 2013
Limited Partner [Member]
Rose Rock Midstream, L.P. [Member]
Jun. 30, 2013
General Partner [Member]
Rose Rock Midstream, L.P. [Member]
Jun. 30, 2013
General Partner [Member]
Rose Rock Midstream, L.P. [Member]
Jun. 30, 2013
Noncontrolling Interest [Member]
Jun. 30, 2013
Additional Paid-In Capital [Member]
Subsidiary (Textual) [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common units representing limited partner interests
 
 
2,900,000 
1,250,000 
8,400,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Partners' minimum quarterly distribution per unit
$ 0.3625 
$ 0.3625 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity Method Investment, Ownership Percentage
 
 
 
 
 
 
 
 
 
 
 
 
 
17.00% 
33.00% 
51.00% 
 
 
 
 
 
 
 
 
 
Length Of Pipeline Network
210 
 
 
 
 
 
 
 
 
 
 
 
 
527 
 
 
 
 
 
 
 
 
 
 
 
Gain (Loss) on Sale of Equity Investments
 
 
 
 
 
$ 0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sale of interest in equity investment to related party
 
33,716,000 1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
90,516,000 1
(56,800,000)1
Tax effect of adjustment to APIC from sale of equity investment to less than wholly owned subsidiary
 
33,700,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Cost of Acquired Entity, Cash Paid
 
 
 
 
 
189,500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock Issued During Period, Shares, New Issues
 
105,738 
 
 
 
 
 
 
1,500,000 
1,250,000 
 
2,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
Average daily throughput threshold in barrels for conversion of Class A units
 
 
 
 
 
 
 
 
 
 
 
 
125,000 
 
 
 
 
 
 
 
 
 
 
 
 
Proceeds from Issuance of Common Stock
 
 
 
 
 
 
 
 
 
 
59,300,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Current Borrowing Capacity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
385,000,000 
150,000,000 
 
 
 
 
 
 
Proceeds from Lines of Credit
 
 
 
 
 
 
133,500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General Partner Ownership Interest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.00% 
2.00% 
 
 
Transaction related costs
 
1,400,000 
 
 
 
 
 
3,700,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Limited Partnership Unit Issuance Costs, Incurred
 
 
 
 
 
 
 
1,600,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
58.20% 
58.20% 
 
 
 
 
Debt Issuance Cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,600,000 
 
 
 
 
 
 
 
 
Business Combination, Acquisition Related Costs
 
 
 
 
 
 
 
$ 500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments in Non-Consolidated Subsidiaries Investments in Non-Consolidated Subsidiaries (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Equity method investments
$ 466,239 
$ 387,802 
White Cliffs Pipeline L L C [Member]
 
 
Equity method investments
193,709 
138,970 
NGL Energy Partners LP [Member]
 
 
Equity method investments
176,816 
174,398 
Glass Mountain Pipeline Llc [Member]
 
 
Equity method investments
$ 95,714 
$ 74,434 
Investments in Non-Consolidated Subsidiaries Investments in Non-Consolidated Subsidiaries (Details 1) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Earnings from equity method investments
$ 14,861 
$ 12,289 
$ 32,206 
$ 19,787 
NGL Energy Partners LP [Member]
 
 
 
 
Earnings from equity method investments
4,200 
3,828 
11,116 
4,755 
Glass Mountain Pipeline Llc [Member]
 
 
 
 
Earnings from equity method investments
0 
0 
(10)
0 
White Cliffs Pipeline L L C [Member]
 
 
 
 
Earnings from equity method investments
$ 10,661 
$ 8,461 
$ 21,100 
$ 15,032 
Investments in Non-Consolidated Subsidiaries Investments in Non-Consolidated Subsidiaries (Details 2) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Proceeds from Equity Method Investment, Dividends or Distributions
 
 
$ 29,798 
$ 17,771 
NGL Energy Partners LP [Member]
 
 
 
 
Proceeds from Equity Method Investment, Dividends or Distributions
4,426 
1,812 
8,698 
2,972 
Glass Mountain Pipeline Llc [Member]
 
 
 
 
Proceeds from Equity Method Investment, Dividends or Distributions
0 
0 
0 
0 
White Cliffs Pipeline L L C [Member]
 
 
 
 
Proceeds from Equity Method Investment, Dividends or Distributions
12,889 
10,827 
26,681 
19,767 
Return of and return on capital [Member]
 
 
 
 
Proceeds from Equity Method Investment, Dividends or Distributions
$ 17,315 
$ 12,639 
$ 35,379 
$ 22,739 
Investments in Non-Consolidated Subsidiaries (Details 3) (White Cliffs Pipeline L L C [Member], USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
White Cliffs Pipeline L L C [Member]
 
 
 
 
Summarized income statement information
 
 
 
 
Equity Method Investment, Summarized Financial Information, Revenue
$ 30,112 
$ 25,732 
$ 60,785 
$ 48,388 
Equity Method Investment, Summarized Financial Information, Operating, General and Administrative Expenses
4,113 
3,640 
9,292 
7,525 
Equity Method Investment, Summarized Financial Information, Depreciation and Amortization Expense
4,715 
4,986 
9,430 
9,969 
Equity Method Investment, Summarized Financial Information, Net Income (Loss)
$ 21,284 
$ 17,106 
$ 42,063 
$ 30,894 
Investments in Non-Consolidated Subsidiaries Investments in Non-Consolidated Subsidiaries (Details 4) (NGL Energy Partners LP [Member], USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Mar. 31, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
NGL Energy Partners LP [Member]
 
 
 
 
Summarized income statement information
 
 
 
 
Equity Method Investment, Summarized Financial Information, Net Income (Loss)
$ 22,341 
$ 13,942 
$ 62,818 
$ 20,032 
Equity Method Investment, Summarized Financial Information, Depreciation and Amortization Expense
27,518 
6,631 
46,265 
12,033 
Equity Method Investment, Summarized Financial Information, Operating, General and Administrative Expenses
74,632 
25,901 
139,325 
42,717 
Cost of Goods Sold
1,481,890 
389,806 
2,686,435 
829,596 
Equity Method Investment, Summarized Financial Information, Revenue
$ 1,617,613 
$ 438,938 
$ 2,955,821 
$ 909,587 
Investments in Non-Consolidated Subsidiaries (Details Textual) (USD $)
3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 11 Months Ended 3 Months Ended 6 Months Ended 14 Months Ended
Jun. 30, 2013
mi
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2012
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
mi
Jun. 30, 2012
White Cliffs Pipeline, L.L.C. [Member]
Mar. 31, 2013
General Partner [Member]
NGL Energy Partners LP [Member]
Jun. 30, 2013
NGL Energy Partners LP [Member]
Mar. 31, 2013
NGL Energy Partners LP [Member]
Jun. 30, 2012
NGL Energy Partners LP [Member]
Jun. 30, 2013
NGL Energy Partners LP [Member]
Jun. 30, 2012
NGL Energy Partners LP [Member]
Mar. 31, 2013
NGL Energy Partners LP [Member]
Limited Partner Interests [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2012
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2012
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Semcrude Pipeline [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Semcrude Pipeline [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Semcrude Pipeline [Member]
Jun. 30, 2013
Glass Mountain Pipeline Llc [Member]
Jun. 30, 2012
Glass Mountain Pipeline Llc [Member]
Jun. 30, 2013
Glass Mountain Pipeline Llc [Member]
Jun. 30, 2012
Glass Mountain Pipeline Llc [Member]
Jun. 30, 2013
Glass Mountain Pipeline Llc [Member]
Sep. 30, 2012
Glass Mountain Pipeline Llc [Member]
May 31, 2012
Glass Mountain Pipeline Llc [Member]
Jun. 30, 2013
Pipeline expansion [Member]
White Cliffs Pipeline, L.L.C. [Member]
Semcrude Pipeline [Member]
Length Of Pipeline Network
210 
 
 
 
 
 
527 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity Method Investment, Summarized Financial Information, Operating, General and Administrative Expenses
 
 
 
 
$ 4,113,000 
$ 3,640,000 
$ 9,292,000 
$ 7,525,000 
 
 
$ 74,632,000 
$ 25,901,000 
$ 139,325,000 
$ 42,717,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General and administrative
16,898,000 
16,561,000 
33,935,000 
36,391,000 
400,000 
500,000 
700,000 
1,500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity method investment, ownership percentage
 
 
 
 
 
 
51.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common units
 
 
 
 
 
 
 
 
 
9,133,409 
 
 
9,133,409 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common units representing limited partner interests
 
 
 
 
 
 
 
 
 
 
53,622,659 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair market value of common units
 
 
 
 
 
 
 
 
 
275,700,000 
 
 
275,700,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share Price
 
 
 
 
 
 
 
 
 
30.19 
 
 
30.19 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General Partner Ownership Interest
 
 
 
 
 
 
 
 
6.42% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings from equity method investments
14,861,000 
12,289,000 
32,206,000 
19,787,000 
 
 
 
 
 
4,200,000 
 
3,828,000 
11,116,000 
4,755,000 
 
10,661,000 
8,461,000 
21,100,000 
15,032,000 
 
 
 
0 
0 
(10,000)
0 
 
 
 
 
Proceeds from Equity Method Investment, Dividends or Distributions
 
 
29,798,000 
17,771,000 
 
 
 
 
 
4,426,000 
 
1,812,000 
8,698,000 
2,972,000 
 
12,889,000 
10,827,000 
26,681,000 
19,767,000 
 
 
 
0 
0 
0 
0 
 
 
 
 
Percentage of ownership interest
 
 
 
 
17.00% 
 
17.00% 
 
 
 
 
 
 
 
 
 
 
 
 
51.00% 
51.00% 
51.00% 
50.00% 
 
50.00% 
 
50.00% 
 
25.00% 
 
Equity Method Investment, Additional Ownership Percentage
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
25.00% 
 
 
Total expected project costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
300,000,000 
300,000,000 
300,000,000 
 
 
 
 
 
 
 
 
Partners' Capital Account, Contributions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
36,900,000 
59,600,000 
61,900,000 
7,900,000 
 
21,300,000 
 
95,700,000 
 
 
 
Payments to Acquire Equity Method Investments
 
 
81,611,000 
3,447,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional cash capital contribution in 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
27,600,000 
 
27,600,000 
 
27,600,000 
 
 
59,700,000 
Estimated Project Contributions in Year Two
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 3,500,000 
 
$ 3,500,000 
 
$ 3,500,000 
 
 
$ 29,500,000 
Segments (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Segment Reporting Information
 
 
 
 
 
Revenues, External
$ 324,244 
$ 331,777 
$ 611,940 
$ 643,808 
 
Revenues, Intersegment
   
   
   
   
 
Total revenues
324,244 
331,777 
611,940 
643,808 
 
Costs of products sold, exclusive of depreciation and amortization shown below
212,709 
219,936 
425,078 
461,457 
 
Operating
69,682 
82,389 
110,453 
120,380 
 
General and administrative
16,898 
16,561 
33,935 
36,391 
 
Depreciation and amortization
12,814 
11,882 
25,450 
23,607 
 
Gain on disposal of long-lived assets, net
(376)
119 
(538)
119 
 
Total expenses
311,727 
330,887 
594,378 
641,954 
 
Earnings from equity method investments
14,861 
12,289 
32,206 
19,787 
 
Operating income
27,378 
13,179 
49,768 
21,641 
 
Other expenses (income), net
10,613 
5,587 
38,475 
13,203 
 
Income (loss) from continuing operations before income taxes
16,765 
7,592 
11,293 
8,438 
 
Total assets (excluding intersegment receivables)
2,096,651 
 
2,096,651 
 
1,748,179 
Crude [Member]
 
 
 
 
 
Segment Reporting Information
 
 
 
 
 
Revenues, External
161,422 
157,418 
332,654 
337,133 
 
Revenues, Intersegment
   
   
0 
   
 
Total revenues
161,422 
157,418 
332,654 
337,133 
 
Costs of products sold, exclusive of depreciation and amortization shown below
140,506 
140,549 
288,957 
301,057 
 
Operating
5,691 
6,462 
11,429 
11,916 
 
General and administrative
3,568 
2,063 
7,418 
4,781 
 
Depreciation and amortization
3,690 
2,999 
7,197 
5,966 
 
Gain on disposal of long-lived assets, net
(25)
56 
(25)
56 
 
Total expenses
153,430 
152,129 
314,976 
323,776 
 
Earnings from equity method investments
10,661 
8,461 
21,090 
15,032 
 
Operating income
18,653 
13,750 
38,768 
28,389 
 
Other expenses (income), net
4,120 
(383)
7,291 
(620)
 
Income (loss) from continuing operations before income taxes
14,533 
14,133 
31,477 
29,009 
 
Total assets (excluding intersegment receivables)
867,993 
 
867,993 
 
 
SemStream [Member]
 
 
 
 
 
Segment Reporting Information
 
 
 
 
 
Revenues, External
0 
   
0 
6 
 
Revenues, Intersegment
   
   
0 
   
 
Total revenues
0 
   
   
6 
 
Costs of products sold, exclusive of depreciation and amortization shown below
   
3 
0 
37 
 
Operating
0 
(21)
1 
(27)
 
General and administrative
160 
(1)
316 
50 
 
Depreciation and amortization
0 
   
0 
   
 
Gain on disposal of long-lived assets, net
0 
   
6 
   
 
Total expenses
160 
(19)
323 
60 
 
Earnings from equity method investments
4,200 
3,828 
11,116 
4,755 
 
Operating income
4,040 
3,847 
10,793 
4,701 
 
Other expenses (income), net
(1,193)
7 
(2,161)
45 
 
Income (loss) from continuing operations before income taxes
5,233 
3,840 
12,954 
4,656 
 
Total assets (excluding intersegment receivables)
176,816 
 
176,816 
 
 
SemCAMS [Member]
 
 
 
 
 
Segment Reporting Information
 
 
 
 
 
Revenues, External
66,459 
79,683 
102,240 
114,848 
 
Revenues, Intersegment
   
   
0 
   
 
Total revenues
66,459 
79,683 
102,240 
114,848 
 
Costs of products sold, exclusive of depreciation and amortization shown below
1 
71 
184 
190 
 
Operating
55,508 
68,848 
82,392 
95,084 
 
General and administrative
3,342 
2,632 
7,487 
7,050 
 
Depreciation and amortization
2,638 
2,673 
5,294 
5,246 
 
Gain on disposal of long-lived assets, net
   
   
0 
   
 
Total expenses
61,489 
74,224 
95,357 
107,570 
 
Earnings from equity method investments
   
   
0 
   
 
Operating income
4,970 
5,459 
6,883 
7,278 
 
Other expenses (income), net
4,748 
5,352 
9,459 
10,555 
 
Income (loss) from continuing operations before income taxes
222 
107 
(2,576)
(3,277)
 
Total assets (excluding intersegment receivables)
298,793 
 
298,793 
 
 
SemGas [Member]
 
 
 
 
 
Segment Reporting Information
 
 
 
 
 
Revenues, External
41,908 
23,580 
76,562 
54,290 
 
Revenues, Intersegment
5,018 
2,554 
9,103 
5,284 
 
Total revenues
46,926 
26,134 
85,665 
59,574 
 
Costs of products sold, exclusive of depreciation and amortization shown below
33,567 
19,990 
62,738 
46,539 
 
Operating
4,289 
3,306 
8,433 
6,159 
 
General and administrative
1,598 
1,394 
3,189 
3,237 
 
Depreciation and amortization
2,233 
1,726 
4,361 
3,356 
 
Gain on disposal of long-lived assets, net
(4)
   
(6)
   
 
Total expenses
41,683 
26,416 
78,715 
59,291 
 
Earnings from equity method investments
   
   
0 
   
 
Operating income
5,243 
(282)
6,950 
283 
 
Other expenses (income), net
676 
770 
1,269 
1,302 
 
Income (loss) from continuing operations before income taxes
4,567 
(1,052)
5,681 
(1,019)
 
Total assets (excluding intersegment receivables)
156,724 
 
156,724 
 
 
SemLogistics [Member]
 
 
 
 
 
Segment Reporting Information
 
 
 
 
 
Revenues, External
2,623 
2,613 
5,658 
6,397 
 
Revenues, Intersegment
   
   
0 
   
 
Total revenues
2,623 
2,613 
5,658 
6,397 
 
Costs of products sold, exclusive of depreciation and amortization shown below
   
99 
0 
99 
 
Operating
1,848 
1,631 
3,687 
3,085 
 
General and administrative
1,486 
1,448 
2,606 
3,259 
 
Depreciation and amortization
2,313 
2,334 
4,653 
4,652 
 
Gain on disposal of long-lived assets, net
   
   
0 
   
 
Total expenses
5,647 
5,512 
10,946 
11,095 
 
Earnings from equity method investments
   
   
0 
   
 
Operating income
(3,024)
(2,899)
(5,288)
(4,698)
 
Other expenses (income), net
357 
189 
1,113 
1,468 
 
Income (loss) from continuing operations before income taxes
(3,381)
(3,088)
(6,401)
(6,166)
 
Total assets (excluding intersegment receivables)
160,490 
 
160,490 
 
 
SemMexico [Member]
 
 
 
 
 
Segment Reporting Information
 
 
 
 
 
Revenues, External
51,832 
68,483 
94,826 
131,134 
 
Revenues, Intersegment
   
   
0 
   
 
Total revenues
51,832 
68,483 
94,826 
131,134 
 
Costs of products sold, exclusive of depreciation and amortization shown below
43,653 
61,778 
82,302 
118,819 
 
Operating
2,346 
2,163 
4,511 
4,163 
 
General and administrative
2,443 
2,541 
4,665 
5,229 
 
Depreciation and amortization
1,458 
1,517 
2,938 
3,078 
 
Gain on disposal of long-lived assets, net
(347)
63 
(513)
63 
 
Total expenses
49,553 
68,062 
93,903 
131,352 
 
Earnings from equity method investments
   
   
0 
   
 
Operating income
2,279 
421 
923 
(218)
 
Other expenses (income), net
153 
425 
(318)
315 
 
Income (loss) from continuing operations before income taxes
2,126 
(4)
1,241 
(533)
 
Total assets (excluding intersegment receivables)
100,910 
 
100,910 
 
 
Corporate and Other [Member]
 
 
 
 
 
Segment Reporting Information
 
 
 
 
 
Revenues, External
0 
   
0 
   
 
Revenues, Intersegment
(5,018)
(2,554)
(9,103)
(5,284)
 
Total revenues
(5,018)
(2,554)
(9,103)
(5,284)
 
Costs of products sold, exclusive of depreciation and amortization shown below
(5,018)
(2,554)
(9,103)
(5,284)
 
Operating
   
   
0 
   
 
General and administrative
4,301 
6,484 
8,254 
12,785 
 
Depreciation and amortization
482 
633 
1,007 
1,309 
 
Gain on disposal of long-lived assets, net
   
   
0 
   
 
Total expenses
(235)
4,563 
158 
8,810 
 
Earnings from equity method investments
   
   
0 
   
 
Operating income
(4,783)
(7,117)
(9,261)
(14,094)
 
Other expenses (income), net
1,752 
(773)
21,822 
138 
 
Income (loss) from continuing operations before income taxes
(6,535)
(6,344)
(31,083)
(14,232)
 
Total assets (excluding intersegment receivables)
$ 334,925 
 
$ 334,925 
 
 
Segments (Details Textual) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Segment Reporting Information [Line Items]
 
 
 
 
Concentration Risk, Percentage
 
 
13.00% 
 
Depreciation and amortization
 
 
$ 25,450 
$ 23,935 
Revenues
324,244 
331,777 
611,940 
643,808 
Costs and Expenses
311,727 
330,887 
594,378 
641,954 
Operating Income (Loss)
27,378 
13,179 
49,768 
21,641 
Income (loss) from continuing operations before income taxes
16,765 
7,592 
11,293 
8,438 
Crude [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Revenues
161,422 
157,418 
332,654 
337,133 
Costs and Expenses
153,430 
152,129 
314,976 
323,776 
Operating Income (Loss)
18,653 
13,750 
38,768 
28,389 
Income (loss) from continuing operations before income taxes
14,533 
14,133 
31,477 
29,009 
SemStream [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Revenues
0 
   
   
6 
Costs and Expenses
160 
(19)
323 
60 
Operating Income (Loss)
4,040 
3,847 
10,793 
4,701 
Income (loss) from continuing operations before income taxes
5,233 
3,840 
12,954 
4,656 
Decrease to previously reported balances due to discontinued operations |
SemStream [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Revenues
 
2,400 
 
8,000 
Costs and Expenses
 
2,800 
 
8,200 
Operating Income (Loss)
 
400 
 
200 
Income (loss) from continuing operations before income taxes
 
$ 400 
 
$ 200 
Customer 1 [Member] |
Customer Concentration Risk [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Concentration Risk, Percentage
14.00% 
 
 
 
Customer 2 [Member] |
Customer Concentration Risk [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Concentration Risk, Percentage
11.00% 
 
 
 
Inventories (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Components of Inventories
 
 
Crude oil
$ 21,740 
$ 24,840 
Asphalt and other
12,629 
9,593 
Total Inventories
$ 34,369 
$ 34,433 
Financial Instruments (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Fair Value of Financial Assets and Liabilities
 
 
Total assets
$ 261 
    
Total liabilities
41,810 
33,892 
Net assets (liabilities) at fair value
(41,549)
(33,892)
Level 1 [Member]
 
 
Fair Value of Financial Assets and Liabilities
 
 
Total assets
315 
22 
Total liabilities
41,864 
33,914 
Net assets (liabilities) at fair value
(41,549)
(33,892)
Netting [Member]
 
 
Fair Value of Financial Assets and Liabilities
 
 
Total assets
(54)1
(22)1
Total liabilities
(54)1
(22)1
Net assets (liabilities) at fair value
   1
   1
Commodity Derivatives [Member]
 
 
Fair Value of Financial Assets and Liabilities
 
 
Total assets
261 
   
Total liabilities
   
1,034 
Commodity Derivatives [Member] |
Level 1 [Member]
 
 
Fair Value of Financial Assets and Liabilities
 
 
Total assets
315 
22 
Total liabilities
54 
1,056 
Commodity Derivatives [Member] |
Netting [Member]
 
 
Fair Value of Financial Assets and Liabilities
 
 
Total assets
(54)1
(22)1
Total liabilities
(54)1
(22)1
Warrants [Member]
 
 
Fair Value of Financial Assets and Liabilities
 
 
Total liabilities
41,810 
32,858 
Warrants [Member] |
Level 1 [Member]
 
 
Fair Value of Financial Assets and Liabilities
 
 
Total liabilities
41,810 
32,858 
Warrants [Member] |
Netting [Member]
 
 
Fair Value of Financial Assets and Liabilities
 
 
Total liabilities
   1
   1
Financial Instruments (Details 2)
3 Months Ended 6 Months Ended
Jun. 30, 2013
bbl
Jun. 30, 2012
bbl
Jun. 30, 2013
bbl
Jun. 30, 2012
bbl
Schedule of Notional Quantities for Commodity Derivative Instruments
 
 
 
 
Sales of Notional Quantities of Oil and Gas
720,000 
300,000 
1,330,000 
683,000 
Purchases of Notional Quantities of Oil and Gas
615,000 
235,000 
1,290,000 
686,000 
Financial Instruments (Details 3) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Other Current Assets [Member]
 
 
Schedule of Not Designated Commodity Derivative Instruments Fair Value on Condensed Consolidated Balance Sheets
 
 
Fair value of commodity derivative instruments on assets
$ 261 
$ 0 
Other Current Liabilities [Member]
 
 
Schedule of Not Designated Commodity Derivative Instruments Fair Value on Condensed Consolidated Balance Sheets
 
 
Other Derivatives Not Designated as Hedging Instruments Liabilities at Fair Value
$ 0 
$ 1,034 
Financial Instruments (Details 4) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Schedule of Realized and Unrealized Gains (Losses) from Commodity Derivatives
 
 
 
 
Realized and unrealized gains (losses) from commodity derivatives
$ (233)
$ 1,415 
$ (777)
$ 289 
Financial Instruments Fair Value Disclosures (Details Textual) (USD $)
6 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Financial Instruments [Abstract]
 
 
Level 2 and level 3 fair value transactions
$ 0 
 
Derivative Asset, Fair Value, Net
1,100,000 
800,000 
Margin Deposit Assets
$ 900,000 
$ 1,900,000 
Income Taxes (Details Textual) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Income Taxes (Textual) [Abstract]
 
 
 
 
U.S. federal statutory rate
 
 
35.00% 
 
Valuation Allowance, Deferred Tax Asset, Change in Amount
 
 
$ 50.9 
 
Effective Income Tax Rate, Continuing Operations
55.00% 
(1.00%)
(396.00%)
(13.00%)
Semcrude Pipeline [Member]
 
 
 
 
Equity Method Investment, Ownership Percentage
33.00% 
 
33.00% 
 
Long-Term Debt (Details) (USD $)
Jun. 30, 2013
Jun. 14, 2013
Dec. 31, 2012
Debt Instrument [Line Items]
 
 
 
Senior Notes
$ 300,000,000 
$ 300,000,000 
$ 0 
Line of Credit Facility [Abstract]
 
 
 
Capital leases
75,000 
 
86,000 
Total long-term debt
470,898,000 
 
206,086,000 
less: current portion of long-term debt
4,349,000 
 
24,000 
Noncurrent portion of long-term debt
466,549,000 
 
206,062,000 
SemGroup Corporate Revolving Credit Facility [Member]
 
 
 
Line of Credit Facility [Abstract]
 
 
 
Borrowings
0 
 
201,500,000 
Rose Rock Credit Facility [Member]
 
 
 
Line of Credit Facility [Abstract]
 
 
 
Borrowings
166,500,000 
 
4,500,000 
SemMexico Credit Facility [Member]
 
 
 
Line of Credit Facility [Abstract]
 
 
 
Borrowings
4,323,000 
 
0 
Revolving Credit Facility [Member] |
Corporate [Member]
 
 
 
Line of Credit Facility [Abstract]
 
 
 
Borrowings
$ 0 
 
 
Long-Term Debt Long-Term Debt (Details 1)
6 Months Ended
Jun. 30, 2013
2016 Redemption [Member]
 
Early redemption premium
105.625% 
2017 Redemption [Member]
 
Early redemption premium
103.75% 
2018 Redemption [Member]
 
Early redemption premium
101.875% 
2019 Redemption and Thereafter
 
Early redemption premium
100.00% 
Long-Term Debt (Details Textual)
6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 1 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 0 Months Ended 3 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2013
USD ($)
Jun. 30, 2012
USD ($)
Jun. 14, 2013
USD ($)
Dec. 31, 2012
USD ($)
Jun. 30, 2013
Senior Notes [Member]
USD ($)
Jun. 30, 2013
Issuance of Equity [Member]
Jun. 30, 2013
Registration Payment Arrangement, Arrangement [Domain]
Jun. 30, 2013
Registration Payment Arrangement, Arrangement [Domain]
Minimum [Member]
Jun. 30, 2013
Registration Payment Arrangement, Arrangement [Domain]
Maximum [Member]
Jun. 30, 2013
Corporate [Member]
Letter of Credit [Member]
USD ($)
Jun. 30, 2013
Corporate [Member]
Letter of Credit [Member]
Maximum [Member]
USD ($)
May 31, 2013
Corporate [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2013
Corporate [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2012
Corporate [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2013
Corporate [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2012
Corporate [Member]
Revolving Credit Facility [Member]
USD ($)
May 3, 2013
Corporate [Member]
Revolving Credit Facility [Member]
USD ($)
Apr. 22, 2013
Corporate [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2013
Corporate [Member]
Revolving Credit Facility [Member]
Maximum [Member]
USD ($)
May 3, 2013
Corporate [Member]
Revolving Credit Facility [Member]
Maximum [Member]
USD ($)
Jun. 30, 2013
SemMexico [Member]
USD ($)
Jun. 30, 2012
SemMexico [Member]
USD ($)
Jun. 30, 2013
SemMexico [Member]
USD ($)
Jun. 30, 2012
SemMexico [Member]
USD ($)
Jun. 30, 2013
SemMexico [Member]
Letter of Credit [Member]
USD ($)
Jun. 30, 2013
SemMexico [Member]
Letter of Credit [Member]
MXN ($)
Jun. 30, 2013
SemMexico [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2013
SemMexico [Member]
Revolving Credit Facility [Member]
MXN ($)
Jun. 30, 2013
SemMexico [Member]
Revolving Credit Agreements [Member]
Additional Credit Agreement [Member]
USD ($)
Jun. 30, 2013
SemMexico [Member]
Revolving Credit Agreements [Member]
Additional Credit Agreement [Member]
MXN ($)
Jan. 11, 2013
Rose Rock Midstream L P [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
Bilateral Letter of Credit [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
Letter of Credit [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2012
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2012
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
USD ($)
Jan. 13, 2013
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
Eurodollar Rate Borrowings [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
Alternate Base Rate Borrowings [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
Minimum [Member]
Jun. 30, 2013
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
Maximum [Member]
Dec. 31, 2012
Rose Rock Midstream L P [Member]
Revolving Credit Facility [Member]
Rose Rock Credit Facility [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
1.75% Letter of Credit [Member]
Bilateral Letter of Credit [Member]
USD ($)
Jun. 30, 2013
Rose Rock Midstream L P [Member]
2.0% Letter of Credit [Member]
Bilateral Letter of Credit [Member]
USD ($)
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior Notes Redemable Prior to June 15, 2016
35.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Early Redemption Premium on Senior Notes Redeemed Prior to June 15, 2016
1.00% 
 
 
 
 
107.50% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basis point adjustment to discount rate
50 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Redemption premium on senior notes in the event of a change in control
101.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate increase
 
 
 
 
 
 
0.25% 
0.25% 
1.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior Notes
$ 300,000,000 
 
$ 300,000,000 
$ 0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Instrument, Interest Rate, Stated Percentage
 
 
 
 
7.50% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proceeds from Issuance of Senior Long-term Debt
 
294,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long Term Debt (Textual) [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capacity of revolving credit facility
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
385,000,000 
 
 
 
 
150,000,000 
 
 
Proceeds from Lines of Credit
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
133,500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Borrowings outstanding
 
 
 
 
 
 
 
 
 
 
 
 
0 
 
0 
 
 
 
 
 
 
 
 
 
 
 
0 
 
4,300,000 
56,000,000 
 
 
 
 
 
 
 
 
100,000,000 
66,500,000 
 
 
 
 
 
Letters of credit outstanding
 
 
 
 
 
 
 
 
 
4,500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
22,600,000 
292,800,000 
 
 
 
 
 
8,600,000 
37,400,000 
 
 
 
 
 
 
 
 
 
 
600,000 
8,000,000 
Interest rate in effect
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.75% 
2.00% 
Fees charged on outstanding letters of credit effect rate
 
 
 
 
 
 
 
 
 
2.50% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0.50% 
0.50% 
 
 
 
 
 
 
3.00% 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of line of credit facility fronting fee
 
 
 
 
 
 
 
 
 
0.25% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0.25% 
 
 
 
 
 
 
 
 
 
 
 
 
Commitment fee on unused capacity
 
 
 
 
 
 
 
 
 
 
 
 
0.50% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0.375% 
0.50% 
 
 
 
Unamortized debt costs
 
 
 
 
6,200,000 
 
 
 
 
 
 
 
5,200,000 
 
5,200,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2,700,000 
 
2,700,000 
 
 
 
 
 
 
 
 
 
Maximum borrowing capacity
 
 
 
 
 
 
 
 
 
 
250,000,000 
 
 
 
 
 
500,000,000 
 
500,000,000 
 
 
 
 
 
 
 
3,400,000 
44,000,000 
4,300,000 
56,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Margin added to Prime Rate to determine effective interest rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.00% 
2.00% 
1.70% 
1.70% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense recorded
 
 
 
 
1,100,000 
 
 
 
 
 
 
 
1,500,000 
1,600,000 
2,800,000 
3,200,000 
 
 
 
 
100,000 
100,000 
100,000 
100,000 
 
 
 
 
 
 
 
 
 
2,500,000 
500,000 
4,200,000 
1,000,000 
 
 
 
 
 
 
 
 
Line of Credit Facility, Maximum Borrowing Incremental Increases
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
300,000,000 
 
100,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
165,000,000 
 
165,000,000 
 
 
 
 
 
 
 
 
 
Senior Unsecured Indebtedness Threshold
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
200,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Incremental Increase
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
200,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective interest rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6.01% 
6.01% 
 
 
 
 
 
 
 
 
3.20% 
5.25% 
 
 
 
 
 
Debt Issuance Cost
 
 
 
 
 
 
 
 
 
 
 
2,200,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,600,000 
 
 
 
 
 
 
 
 
 
Interest Costs Capitalized
1,800,000 
100,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt, Fair Value
$ 303,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commitments and Contingencies (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
bbl
Fixed Price Sales [Member]
 
Summary Of Purchase And Sale Commitments
 
Sale commitments, Volume (barrels)
150,000 
Sale commitments, Value
$ 14,318 
Floating Price Sales [Member]
 
Summary Of Purchase And Sale Commitments
 
Sale commitments, Volume (barrels)
18,948,000 
Sale commitments, Value
1,799,559 
Fixed Price Purchases [Member]
 
Summary Of Purchase And Sale Commitments
 
Purchase commitments, Volume (barrels)
150,000 
Purchase commitments, Value
13,434 
Floating Price Purchases [Member]
 
Summary Of Purchase And Sale Commitments
 
Purchase commitments, Volume (barrels)
18,933,000 
Purchase commitments, Value
$ 1,772,366 
Commitments and Contingencies (Details Textual) (USD $)
3 Months Ended 3 Months Ended
Jun. 30, 2013
sites
Aug. 18, 2011
SemCrude Pipeline [Member]
bbl
Jun. 30, 2013
Crude [Member]
sites
Jun. 30, 2013
SemGas [Member]
sites
MMcf
Jun. 30, 2013
Minimum [Member]
Jun. 30, 2013
Maximum [Member]
Commitments and Contingencies (Textual) [Abstract]
 
 
 
 
 
 
Loss contingency claims, number of barrels of crude oil owed
 
141,000 
 
 
 
 
Site contingency number of sites checked
6 
 
5 
1 
 
 
Number of sites requiring remediation and water contamination as per phase two investigations
4 
 
 
 
 
 
Accrued liability, estimated fines and environmental contributions
$ 400,000 
 
 
 
 
 
Asset retirement obligation liability
40,500,000 
 
 
 
 
 
Estimated cost to retire facilities
102,000,000 
 
 
 
 
 
Notice required to cancel purchase agreements, days
 
 
 
 
30 days 
120 days 
Due under the contract
 
 
 
26,000 
 
 
Future obligations
 
 
 
89,000,000 
 
 
Processing Capacity
 
 
 
125 
 
 
Future obligations related to processing facility
 
 
 
$ 1,700,000 
 
 
Equity (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
SemGroup owners' equity:
 
 
 
 
Beginning Balance
 
 
$ 1,021,528 
 
Net income (loss) attributable to SemGroup
7,512 
7,243 
56,078 
9,353 
Other comprehensive income (loss), net of income taxes
(5,354)
(9,897)
(10,412)
2,858 
Distributions to noncontrolling interests
 
 
(7,496)
 
Noncontrolling interest, increase from equity issuance
 
 
57,751 
 
Sale of interest in equity investment to related party
 
 
(33,716)1
 
Stock issued during period from warrant exercises
 
 
23,464 
 
Dividends
 
 
(7,939)
 
Dividends, Share-based Compensation, Cash
 
 
(41)
 
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition
 
 
3,259 
 
Issuance of common stock under compensation plans
 
 
0 
 
Repurchase of common stock
 
 
(371)
 
Ending Balance
1,102,105 
 
1,102,105 
 
Common Stock [Member]
 
 
 
 
SemGroup owners' equity:
 
 
 
 
Beginning Balance
 
 
420 
 
Net income (loss) attributable to SemGroup
 
 
0 
 
Other comprehensive income (loss), net of income taxes
 
 
0 
 
Distributions to noncontrolling interests
 
 
0 
 
Noncontrolling interest, increase from equity issuance
 
 
0 
 
Sale of interest in equity investment to related party
 
 
0 1
 
Stock issued during period from warrant exercises
 
 
4 
 
Dividends
 
 
0 
 
Dividends, Share-based Compensation, Cash
 
 
0 
 
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition
 
 
0 
 
Issuance of common stock under compensation plans
 
 
1 
 
Repurchase of common stock
 
 
0 
 
Ending Balance
425 
 
425 
 
Additional Paid-In Capital [Member]
 
 
 
 
SemGroup owners' equity:
 
 
 
 
Beginning Balance
 
 
1,039,189 
 
Net income (loss) attributable to SemGroup
 
 
0 
 
Other comprehensive income (loss), net of income taxes
 
 
0 
 
Distributions to noncontrolling interests
 
 
0 
 
Noncontrolling interest, increase from equity issuance
 
 
0 
 
Sale of interest in equity investment to related party
 
 
56,800 1
 
Stock issued during period from warrant exercises
 
 
23,460 
 
Dividends
 
 
(7,939)
 
Dividends, Share-based Compensation, Cash
 
 
(25)
 
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition
 
 
2,904 
 
Issuance of common stock under compensation plans
 
 
(1)
 
Repurchase of common stock
 
 
0 
 
Ending Balance
1,114,388 
 
1,114,388 
 
Treasury Stock [Member]
 
 
 
 
SemGroup owners' equity:
 
 
 
 
Beginning Balance
 
 
(242)
 
Net income (loss) attributable to SemGroup
 
 
0 
 
Other comprehensive income (loss), net of income taxes
 
 
0 
 
Distributions to noncontrolling interests
 
 
0 
 
Noncontrolling interest, increase from equity issuance
 
 
0 
 
Sale of interest in equity investment to related party
 
 
0 1
 
Stock issued during period from warrant exercises
 
 
0 
 
Dividends
 
 
0 
 
Dividends, Share-based Compensation, Cash
 
 
0 
 
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition
 
 
0 
 
Issuance of common stock under compensation plans
 
 
0 
 
Repurchase of common stock
 
 
(371)
 
Ending Balance
(613)
 
(613)
 
Accumulated Deficit [Member]
 
 
 
 
SemGroup owners' equity:
 
 
 
 
Beginning Balance
 
 
(145,674)
 
Net income (loss) attributable to SemGroup
 
 
47,013 
 
Other comprehensive income (loss), net of income taxes
 
 
0 
 
Distributions to noncontrolling interests
 
 
0 
 
Noncontrolling interest, increase from equity issuance
 
 
0 
 
Sale of interest in equity investment to related party
 
 
0 1
 
Stock issued during period from warrant exercises
 
 
0 
 
Dividends
 
 
0 
 
Dividends, Share-based Compensation, Cash
 
 
0 
 
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition
 
 
0 
 
Issuance of common stock under compensation plans
 
 
0 
 
Repurchase of common stock
 
 
0 
 
Ending Balance
(98,661)
 
(98,661)
 
Accumulated Other Comprehensive Income (Loss) [Member]
 
 
 
 
SemGroup owners' equity:
 
 
 
 
Beginning Balance
 
 
(1,299)
 
Net income (loss) attributable to SemGroup
 
 
0 
 
Other comprehensive income (loss), net of income taxes
 
 
(10,412)
 
Distributions to noncontrolling interests
 
 
0 
 
Noncontrolling interest, increase from equity issuance
 
 
0 
 
Sale of interest in equity investment to related party
 
 
0 1
 
Stock issued during period from warrant exercises
 
 
0 
 
Dividends
 
 
0 
 
Dividends, Share-based Compensation, Cash
 
 
0 
 
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition
 
 
0 
 
Issuance of common stock under compensation plans
 
 
0 
 
Repurchase of common stock
 
 
0 
 
Ending Balance
(11,711)
 
(11,711)
 
Noncontrolling Interest [Member]
 
 
 
 
SemGroup owners' equity:
 
 
 
 
Beginning Balance
 
 
129,134 
 
Net income (loss) attributable to SemGroup
 
 
9,065 
 
Other comprehensive income (loss), net of income taxes
 
 
0 
 
Distributions to noncontrolling interests
 
 
(7,496)
 
Noncontrolling interest, increase from equity issuance
 
 
57,751 
 
Sale of interest in equity investment to related party
 
 
(90,516)1
 
Stock issued during period from warrant exercises
 
 
0 
 
Dividends
 
 
0 
 
Dividends, Share-based Compensation, Cash
 
 
(16)
 
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition
 
 
355 
 
Issuance of common stock under compensation plans
 
 
0 
 
Repurchase of common stock
 
 
0 
 
Ending Balance
$ 98,277 
 
$ 98,277 
 
Equity (Details 1) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Components of Accumulated Other Comprehensive Loss
 
Beginning Balance
$ (1,299)
Currency translation adjustments
(10,504)
Changes related to benefit plans, net of income tax expense of $16
92 
Ending Balance
(11,711)
Currency Translation [Member]
 
Components of Accumulated Other Comprehensive Loss
 
Beginning Balance
1,855 
Currency translation adjustments
(10,504)
Changes related to benefit plans, net of income tax expense of $16
0 
Ending Balance
(8,649)
Employee Benefit Plans [Member]
 
Components of Accumulated Other Comprehensive Loss
 
Beginning Balance
(3,154)
Currency translation adjustments
0 
Changes related to benefit plans, net of income tax expense of $16
92 
Ending Balance
$ (3,062)
Equity (Details 2) (USD $)
In Thousands, except Share data, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Schedule of Common Stock Reflected On The Condensed Consolidated Balance Sheet
 
 
Total shares
42,525,090 
 
Par value per share
$ 0.01 
 
Common stock
$ 425 
$ 420 
Shares Issued On Emergence Date [Member]
 
 
Schedule of Common Stock Reflected On The Condensed Consolidated Balance Sheet
 
 
Total shares
40,882,496 
 
Shares Subsequently Issued In Settlement Of Pre-Petition Claims [Member]
 
 
Schedule of Common Stock Reflected On The Condensed Consolidated Balance Sheet
 
 
Total shares
226,016 
 
Remaining Shares Required To Be Issued In Settlement Of Pre-Petition Claims [Member]
 
 
Schedule of Common Stock Reflected On The Condensed Consolidated Balance Sheet
 
 
Total shares
291,484 
 
Issuance Of Shares Under Employee And Director Compensation Programs [Member]
 
 
Schedule of Common Stock Reflected On The Condensed Consolidated Balance Sheet
 
 
Total shares
689,320 1
 
Shares Issued Upon Exercise Of Warrants [Member]
 
 
Schedule of Common Stock Reflected On The Condensed Consolidated Balance Sheet
 
 
Total shares
435,774 
 
Equity (Details 3) (USD $)
Jun. 30, 2013
Warrants and Rights Note Disclosure [Abstract]
 
Total warrants
1,370,833 
Fair value per warrant
$ 30.50 
Warrant value included within other noncurrent liabilities
$ 41,810,406.5 
Warrants Issued On Emergence Date [Member]
 
Warrants and Rights Note Disclosure [Abstract]
 
Total warrants
1,634,210 
Warrants Subsequently Issued In Settlement Of Pre-Petition Claims [Member]
 
Warrants and Rights Note Disclosure [Abstract]
 
Total warrants
237,897 
Remaining Warrants To Be Issued In Settlement Of Pre-Petition Claims [Member]
 
Warrants and Rights Note Disclosure [Abstract]
 
Total warrants
306,840 
Warrants Exercised [Member]
 
Warrants and Rights Note Disclosure [Abstract]
 
Total warrants
808,114 
Equity (Details Textual) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Jun. 30, 2013
Equity [Line Items]
 
 
 
 
Dividends Payable, Date Declared
 
Aug. 08, 2013 
 
 
Common Stock, Dividends, Per Share, Declared
 
$ 0.20 
 
 
Dividends Payable, Date to be Paid
Aug. 30, 2013 
 
 
 
Warrants exercised during period
 
 
 
762,807 
EQUITY (Textual) [Abstract]
 
 
 
 
Common stock shares issued
 
42,525,090 
 
42,525,090 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number
 
540,000 
 
540,000 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Potenialy Vested
 
141,000 
 
141,000 
Deferred Compensation Liability, Classified, Noncurrent
 
$ 39 
 
$ 39 
Number of Class A shares equal to unvested dividend rights
 
717 
 
717 
Vested common stock
 
 
 
105,738 
Shares of vested stock awards sold back to satisfy tax obligations
 
 
 
8,591 
Par value per share
 
$ 0.01 
 
$ 0.01 
Warrants issued
 
1,370,833 
 
1,370,833 
Price of purchase of one share of common stock against warrant
 
25 
 
25 
Income tax expense, related to change in benefit plans
 
 
 
$ 31 
Share Price
 
$ 53.86 
 
$ 53.86 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period
 
 
 
201,451 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value
 
 
 
$ 52.78 
Common Stock, Dividends, Per Share, Cash Paid
 
$ 0.19 
 
 
Dividends Payable, Date of Record
Aug. 19, 2013 
 
May 20, 2013 
 
Warrants Issued On Emergence Date [Member]
 
 
 
 
EQUITY (Textual) [Abstract]
 
 
 
 
Warrants issued
 
1,634,210 
 
1,634,210 
Warrants Subsequently Issued In Settlement Of Pre-Petition Claims [Member]
 
 
 
 
EQUITY (Textual) [Abstract]
 
 
 
 
Warrants issued
 
237,897 
 
237,897 
Class of Warrant or Right, To Be Issued
 
544,737 
 
544,737 
Class A [Member]
 
 
 
 
EQUITY (Textual) [Abstract]
 
 
 
 
Common stock shares authorized
 
90,000,000 
 
90,000,000 
Par value per share
 
$ 0.01 
 
$ 0.01 
Class B [Member]
 
 
 
 
EQUITY (Textual) [Abstract]
 
 
 
 
Common stock shares authorized
 
10,000,000 
 
10,000,000 
Par value per share
 
$ 0.01 
 
$ 0.01 
Shares Issued On Emergence Date [Member]
 
 
 
 
EQUITY (Textual) [Abstract]
 
 
 
 
Common stock shares issued
 
40,882,496 
 
40,882,496 
Shares Subsequently Issued In Settlement Of Pre-Petition Claims [Member]
 
 
 
 
EQUITY (Textual) [Abstract]
 
 
 
 
Common stock shares issued
 
226,016 
 
226,016 
Shares To Be Issued To Settle Prepetition Claims
 
517,500 
 
517,500 
Warrant [Member]
 
 
 
 
Equity [Line Items]
 
 
 
 
Stock Issued During Period, Shares, Conversion of Convertible Securities
 
 
 
420,067 
Semcrude Pipeline [Member]
 
 
 
 
Equity [Line Items]
 
 
 
 
Equity Method Investment, Ownership Percentage
 
33.00% 
 
33.00% 
Employee Stock [Member]
 
 
 
 
EQUITY (Textual) [Abstract]
 
 
 
 
Compensation and Employee Benefit Plans [Text Block]
 
12,500 
 
12,500 
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date
 
85.00% 
 
 
Common Stock, Capital Shares Reserved for Future Issuance
 
1,000,000 
 
1,000,000 
Earnings Per Share (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Basic earnings per share
 
 
 
 
Income (loss)
$ 7,477 
$ 7,684 
$ 56,011 
$ 9,542 
Income (loss) from discontinued operations, net of income taxes
35 
(441)
67 
(189)
Net income
7,512 
7,243 
56,078 
9,353 
Less: net income attributable to noncontrolling interests
3,943 
2,096 
9,065 
5,579 
Numerator
3,569 
5,147 
47,013 
3,774 
Common stock issued and to be issued pursuant to Plan of Reorganization
41,400 
41,400 
41,400 
41,400 
Weighted average common stock outstanding issued under compensation plans
811 
534 
745 
520 
Denominator, Net, Basic
42,211 
41,934 
42,145 
41,920 
Basic earnings (loss) per share, Net
$ 0.08 
$ 0.12 
$ 1.12 
$ 0.09 
Continuing Operations [Member]
 
 
 
 
Basic earnings per share
 
 
 
 
Income (loss)
7,477 
7,684 
56,011 
9,542 
Less: net income attributable to noncontrolling interests
3,943 
2,096 
9,065 
5,579 
Numerator
3,534 
5,588 
46,946 
3,963 
Common stock issued and to be issued pursuant to Plan of Reorganization
41,400 
41,400 
41,400 
41,400 
Weighted average common stock outstanding issued under compensation plans
811 
534 
745 
520 
Denominator, Continuing Operations, Basic
42,211 
41,934 
42,145 
41,920 
Basic earnings per share, Continuing Operations
$ 0.08 
$ 0.13 
$ 1.11 
$ 0.09 
Discontinued Operations [Member]
 
 
 
 
Basic earnings per share
 
 
 
 
Income (loss) from discontinued operations, net of income taxes
35 
(441)
67 
(189)
Less: net income attributable to noncontrolling interests
0 
0 
0 
0 
Numerator
$ 35 
$ (441)
$ 67 
$ (189)
Common stock issued and to be issued pursuant to Plan of Reorganization
41,400 
41,400 
41,400 
41,400 
Weighted average common stock outstanding issued under compensation plans
811 
534 
745 
520 
Denominator, Discontinued Operations, Basic
42,211 
41,934 
42,145 
41,920 
Basic earnings per share, Discontinued Operations
$ 0.00 
$ (0.01)
$ 0.00 
$ 0.00 
Earnings Per Share (Details 1) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Diluted earnings per share
 
 
 
 
Income (loss)
$ 7,477 
$ 7,684 
$ 56,011 
$ 9,542 
Income (loss) from discontinued operations, net of income taxes
35 
(441)
67 
(189)
Net income
7,512 
7,243 
56,078 
9,353 
Less: net income attributable to noncontrolling interests
3,943 
2,096 
9,065 
5,579 
Net Income (Loss) Attributable to Change in Fair Value of Warrants
 
 
(32,194)
(7,539)
Numerator
3,569 
5,147 
47,013 
3,774 
Common stock issued and to be issued pursuant to Plan of Reorganization
41,400 
41,400 
41,400 
41,400 
Weighted average common stock outstanding issued under compensation plans
811 
534 
745 
520 
Weighted Average Number Diluted Shares Outstanding Adjustment
315 
199 
279 
176 
Denominator, Net, Diluted
42,526 
42,133 
42,424 
42,096 
Diluted earnings (loss) per share, Net
$ 0.08 
$ 0.12 
$ 1.11 
$ 0.09 
Continuing Operations [Member]
 
 
 
 
Diluted earnings per share
 
 
 
 
Income (loss)
7,477 
7,684 
56,011 
9,542 
Less: net income attributable to noncontrolling interests
3,943 
2,096 
9,065 
5,579 
Numerator
3,534 
5,588 
46,946 
3,963 
Common stock issued and to be issued pursuant to Plan of Reorganization
41,400 
41,400 
41,400 
41,400 
Weighted average common stock outstanding issued under compensation plans
811 
534 
745 
520 
Weighted Average Number Diluted Shares Outstanding Adjustment
315 
199 
279 
176 
Denominator, Net, Diluted
42,526 
42,133 
42,424 
42,096 
Diluted earnings per share, Continuing Operations
$ 0.08 
$ 0.13 
$ 1.11 
$ 0.09 
Discontinued Operations [Member]
 
 
 
 
Diluted earnings per share
 
 
 
 
Income (loss) from discontinued operations, net of income taxes
35 
(441)
67 
(189)
Less: net income attributable to noncontrolling interests
0 
0 
0 
0 
Numerator
$ 35 
$ (441)
$ 67 
$ (189)
Common stock issued and to be issued pursuant to Plan of Reorganization
41,400 
41,400 
41,400 
41,400 
Weighted average common stock outstanding issued under compensation plans
811 
534 
745 
520 
Weighted Average Number Diluted Shares Outstanding Adjustment
315 
199 
279 
176 
Denominator, Net, Diluted
42,526 
42,133 
42,424 
42,096 
Diluted earnings per share, Discontinued Operations
$ 0.00 
$ (0.01)
$ 0.00 
$ 0.00 
Earnings Per Share (Details Textual) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Earnings Per Share (Textual) [Abstract]
 
 
 
 
Expense on the change in the fair value of the warrants
$ 6.4 
$ 3.6 
$ 32.2 
$ 7.5 
Supplemental Cash Flow Information (Details) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Components of operating assets and liabilities
 
 
Decrease (increase) in restricted cash
$ 275 
$ 4,508 
Decrease (increase) in accounts receivable
(12,512)
(71,647)
Decrease (increase) in receivable from affiliates
(2,416)
648 
Decrease (increase) in inventories
(237)
9,944 
Decrease (increase) in derivatives and margin deposits
972 
702 
Decrease (increase) in other current assets
839 
3,825 
Decrease (increase) in other assets
266 
2,259 
Increase (decrease) in accounts payable and accrued liabilities
7,229 
42,802 
Increase (decrease) in payable to affiliates
2 
(5,622)
Increase (decrease) in payables to pre-petition creditors
(424)
(4,360)
Increase (decrease) in other noncurrent liabilities
(3,323)
(1,289)
Total changes in operating assets and liabilities
$ 9,329 
$ 18,230 
Supplemental Cash Flow Information Supplemental Cash Flow Information (Details Textual) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Sale of interest in equity investment to related party
$ 33,716,000 1
 
Tax effect of adjustment to APIC from sale of equity investment to less than wholly owned subsidiary
33,700,000 
 
Warrants exercised during period
762,807 
 
Proceeds from Warrant Exercises
224,000 
0 
Interest Paid
4,100,000 
4,200,000 
Income Taxes Paid, Net
2,000,000 
6,100,000 
Capital Expenditures Incurred but Not yet Paid
3,700,000 
8,500,000 
Noncontrolling Interest [Member]
 
 
Sale of interest in equity investment to related party
90,516,000 1
 
Additional Paid-in Capital [Member]
 
 
Sale of interest in equity investment to related party
(56,800,000)1
 
Semcrude Pipeline [Member]
 
 
Equity Method Investment, Ownership Percentage
33.00% 
 
Warrant [Member]
 
 
Stock Issued During Period, Shares, Conversion of Convertible Securities
420,067 
 
Adjustments to Additional Paid in Capital, Other
$ 23,300,000 
 
Related Party Transactions (Details) (NGL Energy [Member], USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
NGL Energy [Member]
 
 
 
 
Related Party Transaction
 
 
 
 
Revenues
$ 19,459 
$ 13,438 
$ 35,324 
$ 27,550 
Purchases
0 
12,677 
0 
30,564 
Reimbursements from NGL Energy for transition services
$ 48 
$ 131 
$ 96 
$ 498 
Related Party Transactions (Details Textual) (USD $)
3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2012
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2012
White Cliffs Pipeline, L.L.C. [Member]
Jun. 30, 2013
Law Firm [Member]
Jun. 30, 2012
Law Firm [Member]
Jun. 30, 2013
Law Firm [Member]
Jun. 30, 2012
Law Firm [Member]
Jun. 30, 2013
Glass Mountain Holding LLC [Member]
Glass Mountain Pipeline Llc [Member]
Jun. 30, 2013
Glass Mountain Holding LLC [Member]
Glass Mountain Pipeline Llc [Member]
May 31, 2012
Glass Mountain Holding LLC [Member]
Glass Mountain Pipeline Llc [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Law Firm [Member]
Jun. 30, 2012
White Cliffs Pipeline, L.L.C. [Member]
Law Firm [Member]
Jun. 30, 2013
White Cliffs Pipeline, L.L.C. [Member]
Law Firm [Member]
Jun. 30, 2012
White Cliffs Pipeline, L.L.C. [Member]
Law Firm [Member]
Related Party Transactions (Textual) [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$ 800,000 
$ 600,000 
$ 1,300,000 
$ 1,200,000 
 
 
 
 
$ 100,000 
$ 200,000 
 
 
 
 
 
Legal fees
 
 
 
 
500,000 
200,000 
1,000,000 
500,000 
 
 
 
11,500 
10,200 
47,500 
46,200 
Due from Related Parties
 
 
 
 
 
 
 
 
 
 
900,000 
 
 
 
 
Future earnings from related party under management agreement
 
 
 
 
 
 
 
 
$ 200,000 
$ 200,000 
 
 
 
 
 
Acquisition Acquisition (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended 6 Months Ended 3 Months Ended 0 Months Ended
Jun. 30, 2013
Apr. 30, 2013
Subsequent Event [Member]
Mid-America Midstream Gas Services, L.L.C. [Member]
acre
mi
Jun. 30, 2013
Subsequent Event [Member]
Mid-America Midstream Gas Services, L.L.C. [Member]
Gathering and processing agreement [Member]
Aug. 1, 2013
Subsequent Event [Member]
Barcas Field Services, LLC [Member]
Trailers
Trucks
Apr. 30, 2013
Rose Valley I plant [Member]
Subsequent Event [Member]
Mid-America Midstream Gas Services, L.L.C. [Member]
MMcf
Apr. 30, 2013
Rose Valley II plant [Member]
Subsequent Event [Member]
Mid-America Midstream Gas Services, L.L.C. [Member]
MMcf
Mar. 31, 2013
General Partner [Member]
NGL Energy Partners LP [Member]
Aug. 8, 2013
General Partner [Member]
NGL Energy Partners LP [Member]
Subsequent Event [Member]
Aug. 8, 2013
General Partner [Member]
NGL Energy Partners LP [Member]
Subsequent Event [Member]
Additional GP ownership acquired [Member]
Acquisition [Line Items]
 
 
 
 
 
 
 
 
 
Payments to Acquire Productive Assets
 
$ 300 
 
$ 47 
 
 
 
 
 
Length Of Pipeline Network
 
200 
 
 
 
 
 
 
 
Processing Capacity
 
 
 
 
200 
200 
 
 
 
Net Acre Dedication Acquired
 
540,000 
 
 
 
 
 
 
 
Contract tenor
 
 
20 years 
 
 
 
 
 
 
Percentage of contract which is fee based
100.00% 
 
 
 
 
 
 
 
 
Future Capital Expenditures Related to Acquisition
 
$ 125 
 
 
 
 
 
 
 
Trucks purchased
 
 
 
114 
 
 
 
 
 
Trailers purchased
 
 
 
120 
 
 
 
 
 
General Partner Ownership Interest
 
 
 
 
 
 
6.42% 
11.78% 
5.36% 
Condensed Consolidating Guarantor Financial Statements Condensed Consolidating Guarantor Financial Statements (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Dec. 31, 2011
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
$ 298,766 
$ 65,200 
$ 298,766 
$ 65,200 
$ 80,029 
$ 73,613 
Restricted Cash and Cash Equivalents, Current
34,332 
 
34,332 
 
34,678 
 
Accounts receivable, net
347,677 
 
347,677 
 
346,169 
 
Receivable from affiliates
8,594 
 
8,594 
 
6,178 
 
Inventories
34,369 
 
34,369 
 
34,433 
 
Other Assets, Current
16,285 
 
16,285 
 
18,516 
 
Total current assets
740,023 
 
740,023 
 
520,003 
 
Property, plant and equipment, net
833,591 
 
833,591 
 
814,724 
 
Equity method investments
466,239 
 
466,239 
 
387,802 
 
Goodwill
9,916 
 
9,916 
 
9,884 
 
Other intangible assets, net
6,811 
 
6,811 
 
7,585 
 
Other noncurrent assets, net
40,071 
 
40,071 
 
8,181 
 
Total assets
2,096,651 
 
2,096,651 
 
1,748,179 
 
Accounts Payable, Current
252,972 
 
252,972 
 
253,623 
 
Accrued Liabilities, Current
67,579 
 
67,579 
 
63,831 
 
Payables to pre-petition creditors
32,367 
 
32,367 
 
32,933 
 
Deferred revenue
17,736 
 
17,736 
 
18,973 
 
Other Liabilities, Current
7,745 
 
7,745 
 
4,960 
 
Current portion of long-term debt
4,349 
 
4,349 
 
24 
 
Total current liabilities
382,748 
 
382,748 
 
374,344 
 
Long-term Debt and Capital Lease Obligations
466,549 
 
466,549 
 
206,062 
 
Deferred Tax Liabilities, Net, Noncurrent
55,947 
 
55,947 
 
65,620 
 
Other Liabilities, Noncurrent
89,302 
 
89,302 
 
80,625 
 
Commitments and contingencies
   
 
   
 
   
 
Stockholders' Equity Attributable to Parent
1,003,828 
 
1,003,828 
 
892,394 
 
Noncontrolling interests in consolidated subsidiaries
98,277 
 
98,277 
 
129,134 
 
Total owners' equity
1,102,105 
 
1,102,105 
 
1,021,528 
 
Total liabilities and owners' equity
2,096,651 
 
2,096,651 
 
1,748,179 
 
Product Revenue
241,253 
237,571 
476,882 
499,206 
 
 
Sales Revenue, Services, Other
31,678 
29,615 
59,335 
56,928 
 
 
Other Revenue, Net
51,313 
64,591 
75,723 
87,674 
 
 
Total revenues
324,244 
331,777 
611,940 
643,808 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
212,709 
219,936 
425,078 
461,457 
 
 
Operating Costs and Expenses
69,682 
82,389 
110,453 
120,380 
 
 
General and administrative
16,898 
16,561 
33,935 
36,391 
 
 
Depreciation and amortization
12,814 
11,882 
25,450 
23,607 
 
 
(Gain) loss on disposal of long-lived assets, net
(376)
119 
(538)
119 
 
 
Total expenses
311,727 
330,887 
594,378 
641,954 
 
 
Earnings from equity method investments
14,861 
12,289 
32,206 
19,787 
 
 
Operating income
27,378 
13,179 
49,768 
21,641 
 
 
Interest Expense
4,495 
2,114 
6,891 
5,773 
 
 
Foreign currency transaction (gain) loss
(349)
(35)
(516)
2 
 
 
Other Nonoperating Income (Expense)
6,467 
3,508 
32,100 
7,428 
 
 
Total other expenses, net
10,613 
5,587 
38,475 
13,203 
 
 
Income (loss) from continuing operations before income taxes
16,765 
7,592 
11,293 
8,438 
 
 
Income tax expense (benefit)
9,288 
(92)
(44,718)
(1,104)
 
 
Income from continuing operations
7,477 
7,684 
56,011 
9,542 
 
 
Income (loss) from discontinued operations, net of income taxes
35 
(441)
67 
(189)
 
 
Net income
7,512 
7,243 
56,078 
9,353 
 
 
Net Income (Loss) Attributable to Noncontrolling Interest
3,943 
2,096 
9,065 
5,579 
 
 
Net income (loss) attributable to SemGroup
3,569 
5,147 
47,013 
3,774 
 
 
Other Comprehensive Income (Loss), Net of Tax
(5,354)
(9,897)
(10,412)
2,858 
 
 
Comprehensive income
2,158 
(2,654)
45,666 
12,211 
 
 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
3,943 
2,096 
9,065 
5,579 
 
 
Comprehensive income attributable to SemGroup
(1,785)
(4,750)
36,601 
6,632 
 
 
Net Cash Provided by (Used in) Operating Activities
 
 
55,436 
24,152 
 
 
Payments to Acquire Property, Plant, and Equipment
 
 
(59,877)
(43,517)
 
 
Proceeds from sale of long-lived assets
 
 
544 
201 
 
 
Proceeds from Divestiture of Businesses
 
 
0 
 
 
 
Payments to Acquire Equity Method Investments
 
 
(81,611)
(3,447)
 
 
Distributions in excess of equity in earnings of affiliates
 
 
5,582 
4,969 
 
 
Net cash used in investing activities
 
 
(135,362)
(41,794)
 
 
Payments of Debt Issuance Costs
 
 
(10,263)
(132)
 
 
Proceeds from Issuance of Long-term Debt and Capital Securities, Net
 
 
649,974 
165,500 
 
 
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities
 
 
(385,012)
(154,240)
 
 
Proceeds from Issuance of Common Limited Partners Units
 
 
57,751 
0 
 
 
Distributions to noncontrolling interests
 
 
(7,496)
(3,077)
 
 
Proceeds from Warrant Exercises
 
 
224 
0 
 
 
Payments for Repurchase of Other Equity
 
 
(371)
(242)
 
 
Payments of Dividends
 
 
7,939 
0 
 
 
Intercompany borrowings (advances), net
 
 
0 
0 
 
 
Net cash provided by financing activities
 
 
296,868 
7,809 
 
 
Effect of exchange rate changes on cash and cash equivalents
 
 
1,795 
1,206 
 
 
Change in cash and cash equivalents
 
 
218,737 
(8,627)
 
 
Change in cash and cash equivalents included in discontinued operations
 
 
0 
214 
 
 
Change in cash and cash equivalents from continuing operations
 
 
218,737 
(8,413)
 
 
Parent [Member]
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
Product Revenue
 
 
0 
 
 
 
Parent [Member]
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
234,732 
2,243 
234,732 
2,243 
19,123 
111 
Restricted Cash and Cash Equivalents, Current
33,050 
 
33,050 
 
33,324 
 
Accounts receivable, net
1,325 
 
1,325 
 
1,155 
 
Receivable from affiliates
671 
 
671 
 
827 
 
Inventories
0 
 
0 
 
0 
 
Other Assets, Current
3,016 
 
3,016 
 
2,528 
 
Total current assets
272,794 
 
272,794 
 
56,957 
 
Property, plant and equipment, net
4,837 
 
4,837 
 
5,399 
 
Equity method investments
1,081,478 
 
1,081,478 
 
1,104,832 
 
Goodwill
0 
 
0 
 
0 
 
Other intangible assets, net
33 
 
33 
 
36 
 
Other noncurrent assets, net
28,277 
 
28,277 
 
3,606 
 
Total assets
1,387,419 
 
1,387,419 
 
1,170,830 
 
Accounts Payable, Current
318 
 
318 
 
70 
 
Accrued Liabilities, Current
8,507 
 
8,507 
 
8,972 
 
Payables to pre-petition creditors
32,313 
 
32,313 
 
32,876 
 
Deferred revenue
0 
 
0 
 
0 
 
Other Liabilities, Current
100 
 
100 
 
134 
 
Current portion of long-term debt
0 
 
0 
 
0 
 
Total current liabilities
41,238 
 
41,238 
 
42,052 
 
Long-term Debt and Capital Lease Obligations
300,000 
 
300,000 
 
201,500 
 
Deferred Tax Liabilities, Net, Noncurrent
535 
 
535 
 
2,018 
 
Other Liabilities, Noncurrent
41,818 
 
41,818 
 
32,866 
 
Commitments and contingencies
   
 
   
 
   
 
Stockholders' Equity Attributable to Parent
1,003,828 
 
1,003,828 
 
892,394 
 
Noncontrolling interests in consolidated subsidiaries
0 
 
0 
 
0 
 
Total owners' equity
1,003,828 
 
1,003,828 
 
892,394 
 
Total liabilities and owners' equity
1,387,419 
 
1,387,419 
 
1,170,830 
 
Product Revenue
0 
0 
 
0 
 
 
Sales Revenue, Services, Other
0 
0 
0 
0 
 
 
Other Revenue, Net
0 
0 
0 
0 
 
 
Total revenues
0 
0 
0 
0 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
0 
0 
0 
0 
 
 
Operating Costs and Expenses
0 
0 
0 
0 
 
 
General and administrative
4,210 
6,459 
8,128 
12,688 
 
 
Depreciation and amortization
482 
634 
1,007 
1,310 
 
 
(Gain) loss on disposal of long-lived assets, net
0 
0 
0 
0 
 
 
Total expenses
4,692 
7,093 
9,135 
13,998 
 
 
Earnings from equity method investments
20,358 
14,188 
37,245 
22,512 
 
 
Operating income
15,666 
7,095 
28,110 
8,514 
 
 
Interest Expense
(901)
(231)
(2,917)
(198)
 
 
Foreign currency transaction (gain) loss
0 
0 
0 
0 
 
 
Other Nonoperating Income (Expense)
5,009 
2,085 
29,443 
4,750 
 
 
Total other expenses, net
4,108 
1,854 
26,526 
4,552 
 
 
Income (loss) from continuing operations before income taxes
11,558 
5,241 
1,584 
3,962 
 
 
Income tax expense (benefit)
7,989 
95 
(45,429)
190 
 
 
Income from continuing operations
3,569 
5,146 
47,013 
3,772 
 
 
Income (loss) from discontinued operations, net of income taxes
0 
1 
0 
2 
 
 
Net income
3,569 
5,147 
47,013 
3,774 
 
 
Net Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
 
 
Net income (loss) attributable to SemGroup
3,569 
5,147 
47,013 
3,774 
 
 
Other Comprehensive Income (Loss), Net of Tax
936 
(1,486)
2,352 
(491)
 
 
Comprehensive income
4,505 
3,661 
49,365 
3,283 
 
 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
0 
0 
0 
0 
 
 
Comprehensive income attributable to SemGroup
4,505 
3,661 
49,365 
3,283 
 
 
Net Cash Provided by (Used in) Operating Activities
 
 
14,394 
(1,004)
 
 
Payments to Acquire Property, Plant, and Equipment
 
 
(442)
(928)
 
 
Proceeds from sale of long-lived assets
 
 
0 
0 
 
 
Proceeds from Divestiture of Businesses
 
 
189,500 
 
 
 
Payments to Acquire Equity Method Investments
 
 
0 
(1,512)
 
 
Distributions in excess of equity in earnings of affiliates
 
 
0 
234 
 
 
Net cash used in investing activities
 
 
189,058 
(2,206)
 
 
Payments of Debt Issuance Costs
 
 
(8,651)
(80)
 
 
Proceeds from Issuance of Long-term Debt and Capital Securities, Net
 
 
394,500 
92,000 
 
 
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities
 
 
(296,000)
(55,500)
 
 
Proceeds from Issuance of Common Limited Partners Units
 
 
0 
0 
 
 
Distributions to noncontrolling interests
 
 
0 
0 
 
 
Proceeds from Warrant Exercises
 
 
224 
 
 
 
Payments for Repurchase of Other Equity
 
 
(371)
(242)
 
 
Payments of Dividends
 
 
7,939 
 
 
 
Intercompany borrowings (advances), net
 
 
(69,606)
(30,836)
 
 
Net cash provided by financing activities
 
 
12,157 
5,342 
 
 
Effect of exchange rate changes on cash and cash equivalents
 
 
0 
0 
 
 
Change in cash and cash equivalents
 
 
215,609 
2,132 
 
 
Change in cash and cash equivalents included in discontinued operations
 
 
 
0 
 
 
Change in cash and cash equivalents from continuing operations
 
 
 
2,132 
 
 
Consolidation, Eliminations [Member]
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
(4,220)
(935)
(4,220)
(935)
(2,938)
(2,762)
Restricted Cash and Cash Equivalents, Current
0 
 
0 
 
0 
 
Accounts receivable, net
0 
 
0 
 
0 
 
Receivable from affiliates
(2,421)
 
(2,421)
 
(1,980)
 
Inventories
0 
 
0 
 
0 
 
Other Assets, Current
0 
 
0 
 
0 
 
Total current assets
(6,641)
 
(6,641)
 
(4,918)
 
Property, plant and equipment, net
0 
 
0 
 
0 
 
Equity method investments
(1,293,816)
 
(1,293,816)
 
(1,324,033)
 
Goodwill
0 
 
0 
 
0 
 
Other intangible assets, net
0 
 
0 
 
0 
 
Other noncurrent assets, net
0 
 
0 
 
0 
 
Total assets
(1,300,457)
 
(1,300,457)
 
(1,328,951)
 
Accounts Payable, Current
0 
 
0 
 
0 
 
Accrued Liabilities, Current
(1)
 
(1)
 
0 
 
Payables to pre-petition creditors
0 
 
0 
 
0 
 
Deferred revenue
0 
 
0 
 
0 
 
Other Liabilities, Current
(42)
 
(42)
 
(17)
 
Current portion of long-term debt
0 
 
0 
 
0 
 
Total current liabilities
(43)
 
(43)
 
(17)
 
Long-term Debt and Capital Lease Obligations
0 
 
0 
 
0 
 
Deferred Tax Liabilities, Net, Noncurrent
0 
 
0 
 
0 
 
Other Liabilities, Noncurrent
0 
 
0 
 
0 
 
Commitments and contingencies
   
 
   
 
   
 
Stockholders' Equity Attributable to Parent
(1,300,414)
 
(1,300,414)
 
(1,328,934)
 
Noncontrolling interests in consolidated subsidiaries
0 
 
0 
 
0 
 
Total owners' equity
(1,300,414)
 
(1,300,414)
 
(1,328,934)
 
Total liabilities and owners' equity
(1,300,457)
 
(1,300,457)
 
(1,328,951)
 
Product Revenue
(5,019)
(2,539)
(9,088)
(5,269)
 
 
Sales Revenue, Services, Other
0 
0 
0 
0 
 
 
Other Revenue, Net
0 
0 
0 
0 
 
 
Total revenues
(5,019)
(2,539)
(9,088)
(5,269)
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
(5,019)
(2,539)
(9,088)
(5,269)
 
 
Operating Costs and Expenses
0 
0 
0 
0 
 
 
General and administrative
0 
0 
0 
0 
 
 
Depreciation and amortization
0 
0 
0 
0 
 
 
(Gain) loss on disposal of long-lived assets, net
0 
0 
0 
0 
 
 
Total expenses
(5,019)
(2,539)
(9,088)
(5,269)
 
 
Earnings from equity method investments
(35,954)
(24,028)
(64,482)
(42,436)
 
 
Operating income
(35,954)
(24,028)
(64,482)
(42,436)
 
 
Interest Expense
0 
(1,408)
0 
(2,609)
 
 
Foreign currency transaction (gain) loss
0 
0 
0 
0 
 
 
Other Nonoperating Income (Expense)
0 
1,408 
0 
2,609 
 
 
Total other expenses, net
0 
0 
0 
0 
 
 
Income (loss) from continuing operations before income taxes
(35,954)
(24,028)
(64,482)
(42,436)
 
 
Income tax expense (benefit)
0 
0 
0 
0 
 
 
Income from continuing operations
(35,954)
(24,028)
(64,482)
(42,436)
 
 
Income (loss) from discontinued operations, net of income taxes
0 
0 
0 
0 
 
 
Net income
(35,954)
(24,028)
(64,482)
(42,436)
 
 
Net Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
 
 
Net income (loss) attributable to SemGroup
(35,954)
(24,028)
(64,482)
(42,436)
 
 
Other Comprehensive Income (Loss), Net of Tax
0 
0 
0 
0 
 
 
Comprehensive income
(35,954)
(24,028)
(64,482)
(42,436)
 
 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
0 
0 
0 
0 
 
 
Comprehensive income attributable to SemGroup
(35,954)
(24,028)
(64,482)
(42,436)
 
 
Net Cash Provided by (Used in) Operating Activities
 
 
3,403 
(7,769)
 
 
Payments to Acquire Property, Plant, and Equipment
 
 
0 
0 
 
 
Proceeds from sale of long-lived assets
 
 
0 
0 
 
 
Proceeds from Divestiture of Businesses
 
 
(189,500)
 
 
 
Payments to Acquire Equity Method Investments
 
 
0 
0 
 
 
Distributions in excess of equity in earnings of affiliates
 
 
0 
0 
 
 
Net cash used in investing activities
 
 
(189,500)
0 
 
 
Payments of Debt Issuance Costs
 
 
0 
0 
 
 
Proceeds from Issuance of Long-term Debt and Capital Securities, Net
 
 
0 
0 
 
 
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities
 
 
0 
0 
 
 
Proceeds from Issuance of Common Limited Partners Units
 
 
0 
0 
 
 
Distributions to noncontrolling interests
 
 
0 
0 
 
 
Proceeds from Warrant Exercises
 
 
0 
 
 
 
Payments for Repurchase of Other Equity
 
 
0 
0 
 
 
Payments of Dividends
 
 
0 
 
 
 
Intercompany borrowings (advances), net
 
 
184,815 
9,596 
 
 
Net cash provided by financing activities
 
 
184,815 
9,596 
 
 
Effect of exchange rate changes on cash and cash equivalents
 
 
0 
0 
 
 
Change in cash and cash equivalents
 
 
(1,282)
1,827 
 
 
Change in cash and cash equivalents included in discontinued operations
 
 
 
0 
 
 
Change in cash and cash equivalents from continuing operations
 
 
 
1,827 
 
 
Non-Guarantor Subsidiaries [Member]
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
68,254 
63,892 
68,254 
63,892 
63,844 
76,264 
Restricted Cash and Cash Equivalents, Current
1,282 
 
1,282 
 
1,354 
 
Accounts receivable, net
338,180 
 
338,180 
 
337,087 
 
Receivable from affiliates
0 
 
0 
 
109 
 
Inventories
34,102 
 
34,102 
 
34,252 
 
Other Assets, Current
12,822 
 
12,822 
 
15,676 
 
Total current assets
454,640 
 
454,640 
 
452,322 
 
Property, plant and equipment, net
671,191 
 
671,191 
 
686,426 
 
Equity method investments
193,709 
 
193,709 
 
138,970 
 
Goodwill
9,916 
 
9,916 
 
9,884 
 
Other intangible assets, net
6,778 
 
6,778 
 
7,549 
 
Other noncurrent assets, net
10,618 
 
10,618 
 
3,258 
 
Total assets
1,346,852 
 
1,346,852 
 
1,298,409 
 
Accounts Payable, Current
235,149 
 
235,149 
 
241,249 
 
Accrued Liabilities, Current
51,880 
 
51,880 
 
50,313 
 
Payables to pre-petition creditors
54 
 
54 
 
57 
 
Deferred revenue
17,736 
 
17,736 
 
18,973 
 
Other Liabilities, Current
6,961 
 
6,961 
 
4,263 
 
Current portion of long-term debt
4,349 
 
4,349 
 
24 
 
Total current liabilities
316,129 
 
316,129 
 
314,879 
 
Long-term Debt and Capital Lease Obligations
166,549 
 
166,549 
 
4,562 
 
Deferred Tax Liabilities, Net, Noncurrent
55,412 
 
55,412 
 
63,602 
 
Other Liabilities, Noncurrent
47,484 
 
47,484 
 
47,759 
 
Commitments and contingencies
   
 
   
 
   
 
Stockholders' Equity Attributable to Parent
663,001 
 
663,001 
 
738,473 
 
Noncontrolling interests in consolidated subsidiaries
98,277 
 
98,277 
 
129,134 
 
Total owners' equity
761,278 
 
761,278 
 
867,607 
 
Total liabilities and owners' equity
1,346,852 
 
1,346,852 
 
1,298,409 
 
Product Revenue
200,649 
214,996 
402,713 
447,098 
 
 
Sales Revenue, Services, Other
31,455 
29,298 
58,864 
56,259 
 
 
Other Revenue, Net
51,313 
64,591 
75,723 
87,667 
 
 
Total revenues
283,417 
308,885 
537,300 
591,024 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
185,046 
203,002 
373,010 
421,335 
 
 
Operating Costs and Expenses
65,681 
79,040 
102,481 
114,180 
 
 
General and administrative
10,619 
8,688 
21,702 
20,380 
 
 
Depreciation and amortization
10,250 
9,672 
20,383 
19,239 
 
 
(Gain) loss on disposal of long-lived assets, net
(371)
119 
(541)
119 
 
 
Total expenses
271,225 
300,521 
517,035 
575,253 
 
 
Earnings from equity method investments
10,661 
8,470 
21,100 
15,042 
 
 
Operating income
22,853 
16,834 
41,365 
30,813 
 
 
Interest Expense
4,372 
2,983 
7,981 
7,265 
 
 
Foreign currency transaction (gain) loss
(349)
(35)
(516)
2 
 
 
Other Nonoperating Income (Expense)
1,458 
10 
2,499 
38 
 
 
Total other expenses, net
5,481 
2,958 
9,964 
7,305 
 
 
Income (loss) from continuing operations before income taxes
17,372 
13,876 
31,401 
23,508 
 
 
Income tax expense (benefit)
1,299 
(187)
711 
(1,294)
 
 
Income from continuing operations
16,073 
14,063 
30,690 
24,802 
 
 
Income (loss) from discontinued operations, net of income taxes
(1)
(442)
1 
(191)
 
 
Net income
16,072 
13,621 
30,691 
24,611 
 
 
Net Income (Loss) Attributable to Noncontrolling Interest
3,943 
2,096 
9,065 
5,579 
 
 
Net income (loss) attributable to SemGroup
12,129 
11,525 
21,626 
19,032 
 
 
Other Comprehensive Income (Loss), Net of Tax
(6,290)
(8,411)
(12,764)
3,349 
 
 
Comprehensive income
9,782 
5,210 
17,927 
27,960 
 
 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
3,943 
2,096 
9,065 
5,579 
 
 
Comprehensive income attributable to SemGroup
5,839 
3,114 
8,862 
22,381 
 
 
Net Cash Provided by (Used in) Operating Activities
 
 
39,478 
32,711 
 
 
Payments to Acquire Property, Plant, and Equipment
 
 
(22,904)
(24,686)
 
 
Proceeds from sale of long-lived assets
 
 
541 
34 
 
 
Proceeds from Divestiture of Businesses
 
 
0 
 
 
 
Payments to Acquire Equity Method Investments
 
 
(60,321)
0 
 
 
Distributions in excess of equity in earnings of affiliates
 
 
5,582 
4,735 
 
 
Net cash used in investing activities
 
 
(77,102)
(19,917)
 
 
Payments of Debt Issuance Costs
 
 
(1,612)
(52)
 
 
Proceeds from Issuance of Long-term Debt and Capital Securities, Net
 
 
255,474 
73,500 
 
 
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities
 
 
(89,012)
(98,740)
 
 
Proceeds from Issuance of Common Limited Partners Units
 
 
57,751 
0 
 
 
Distributions to noncontrolling interests
 
 
(7,496)
(3,077)
 
 
Proceeds from Warrant Exercises
 
 
0 
 
 
 
Payments for Repurchase of Other Equity
 
 
0 
0 
 
 
Payments of Dividends
 
 
0 
 
 
 
Intercompany borrowings (advances), net
 
 
(174,866)
1,783 
 
 
Net cash provided by financing activities
 
 
40,239 
(26,586)
 
 
Effect of exchange rate changes on cash and cash equivalents
 
 
1,795 
1,206 
 
 
Change in cash and cash equivalents
 
 
4,410 
(12,586)
 
 
Change in cash and cash equivalents included in discontinued operations
 
 
 
214 
 
 
Change in cash and cash equivalents from continuing operations
 
 
 
(12,372)
 
 
Guarantor Subsidiaries [Member]
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
0 
0 
0 
0 
0 
0 
Restricted Cash and Cash Equivalents, Current
0 
 
0 
 
0 
 
Accounts receivable, net
8,172 
 
8,172 
 
7,927 
 
Receivable from affiliates
10,344 
 
10,344 
 
7,222 
 
Inventories
267 
 
267 
 
181 
 
Other Assets, Current
447 
 
447 
 
312 
 
Total current assets
19,230 
 
19,230 
 
15,642 
 
Property, plant and equipment, net
157,563 
 
157,563 
 
122,899 
 
Equity method investments
484,868 
 
484,868 
 
468,033 
 
Goodwill
0 
 
0 
 
0 
 
Other intangible assets, net
0 
 
0 
 
0 
 
Other noncurrent assets, net
1,176 
 
1,176 
 
1,317 
 
Total assets
662,837 
 
662,837 
 
607,891 
 
Accounts Payable, Current
17,505 
 
17,505 
 
12,304 
 
Accrued Liabilities, Current
7,193 
 
7,193 
 
4,546 
 
Payables to pre-petition creditors
0 
 
0 
 
0 
 
Deferred revenue
0 
 
0 
 
0 
 
Other Liabilities, Current
726 
 
726 
 
580 
 
Current portion of long-term debt
0 
 
0 
 
0 
 
Total current liabilities
25,424 
 
25,424 
 
17,430 
 
Long-term Debt and Capital Lease Obligations
0 
 
0 
 
0 
 
Deferred Tax Liabilities, Net, Noncurrent
0 
 
0 
 
0 
 
Other Liabilities, Noncurrent
0 
 
0 
 
0 
 
Commitments and contingencies
   
 
   
 
   
 
Stockholders' Equity Attributable to Parent
637,413 
 
637,413 
 
590,461 
 
Noncontrolling interests in consolidated subsidiaries
0 
 
0 
 
0 
 
Total owners' equity
637,413 
 
637,413 
 
590,461 
 
Total liabilities and owners' equity
662,837 
 
662,837 
 
607,891 
 
Product Revenue
45,623 
25,114 
83,257 
57,377 
 
 
Sales Revenue, Services, Other
223 
317 
471 
669 
 
 
Other Revenue, Net
0 
0 
0 
7 
 
 
Total revenues
45,846 
25,431 
83,728 
58,053 
 
 
Costs of products sold, exclusive of depreciation and amortization shown below
32,682 
19,473 
61,156 
45,391 
 
 
Operating Costs and Expenses
4,001 
3,349 
7,972 
6,200 
 
 
General and administrative
2,069 
1,414 
4,105 
3,323 
 
 
Depreciation and amortization
2,082 
1,576 
4,060 
3,058 
 
 
(Gain) loss on disposal of long-lived assets, net
(5)
0 
3 
0 
 
 
Total expenses
40,829 
25,812 
77,296 
57,972 
 
 
Earnings from equity method investments
19,796 
13,659 
38,343 
24,669 
 
 
Operating income
24,813 
13,278 
44,775 
24,750 
 
 
Interest Expense
1,024 
770 
1,827 
1,315 
 
 
Foreign currency transaction (gain) loss
0 
0 
0 
0 
 
 
Other Nonoperating Income (Expense)
0 
5 
158 
31 
 
 
Total other expenses, net
1,024 
775 
1,985 
1,346 
 
 
Income (loss) from continuing operations before income taxes
23,789 
12,503 
42,790 
23,404 
 
 
Income tax expense (benefit)
0 
0 
0 
0 
 
 
Income from continuing operations
23,789 
12,503 
42,790 
23,404 
 
 
Income (loss) from discontinued operations, net of income taxes
36 
0 
66 
0 
 
 
Net income
23,825 
12,503 
42,856 
23,404 
 
 
Net Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
 
 
Net income (loss) attributable to SemGroup
23,825 
12,503 
42,856 
23,404 
 
 
Other Comprehensive Income (Loss), Net of Tax
0 
0 
0 
0 
 
 
Comprehensive income
23,825 
12,503 
42,856 
23,404 
 
 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
0 
0 
0 
0 
 
 
Comprehensive income attributable to SemGroup
23,825 
12,503 
42,856 
23,404 
 
 
Net Cash Provided by (Used in) Operating Activities
 
 
(1,839)
214 
 
 
Payments to Acquire Property, Plant, and Equipment
 
 
(36,531)
(17,903)
 
 
Proceeds from sale of long-lived assets
 
 
3 
167 
 
 
Proceeds from Divestiture of Businesses
 
 
0 
 
 
 
Payments to Acquire Equity Method Investments
 
 
(21,290)
(1,935)
 
 
Distributions in excess of equity in earnings of affiliates
 
 
0 
0 
 
 
Net cash used in investing activities
 
 
(57,818)
(19,671)
 
 
Payments of Debt Issuance Costs
 
 
0 
0 
 
 
Proceeds from Issuance of Long-term Debt and Capital Securities, Net
 
 
0 
0 
 
 
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities
 
 
0 
0 
 
 
Proceeds from Issuance of Common Limited Partners Units
 
 
0 
0 
 
 
Distributions to noncontrolling interests
 
 
0 
0 
 
 
Proceeds from Warrant Exercises
 
 
0 
 
 
 
Payments for Repurchase of Other Equity
 
 
0 
0 
 
 
Payments of Dividends
 
 
0 
 
 
 
Intercompany borrowings (advances), net
 
 
59,657 
19,457 
 
 
Net cash provided by financing activities
 
 
59,657 
19,457 
 
 
Effect of exchange rate changes on cash and cash equivalents
 
 
0 
0 
 
 
Change in cash and cash equivalents
 
 
0 
0 
 
 
Change in cash and cash equivalents included in discontinued operations
 
 
 
0 
 
 
Change in cash and cash equivalents from continuing operations
 
 
 
$ 0 
 
 
Condensed Consolidating Guarantor Financial Statements Condensed Consolidating Guarantor Financial Statements (Details Textual) (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Jun. 14, 2013
Dec. 31, 2012
Condensed Financial Statements, Captions [Line Items]
 
 
 
Senior Notes
$ 300,000 
$ 300,000 
$ 0 
Guarantor Subsidiaries [Member]
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
Equity Method Investment, Ownership Percentage
100.00% 
 
 
Senior Notes [Member]
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
Debt Instrument, Interest Rate, Stated Percentage
7.50% 
 
 
Semcrude Pipeline [Member]
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
Equity Method Investment, Ownership Percentage
33.00%