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SEC Filings
S-4/A
SUSSER HOLDINGS CORP filed this Form S-4/A on 08/16/2016
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Table of Contents
Index to Financial Statements

ETP RETAIL HOLDINGS, LLC

CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS

(Dollars in millions)

 

     Years Ended December 31,  
       2015         2014         2013    

Cash flows from operating activities:

      

Net income

   $ 325      $ 150      $ 119   

Reconciliation of net income to net cash provided by (used in) operating activities:

      

Depreciation and amortization

     13        74        54   

Deferred income taxes

     —          15        16   

Inventory valuation adjustments

     (3     176        (3

(Income) loss from unconsolidated affiliates

     (304     (85     33   

Distributions from unconsolidated affiliates

     49        2        12   

Net change in operating assets and liabilities:

      

Accounts receivable, net

     21        19        155   

Accounts receivable, affiliated companies

     (14     (54     —     

Inventories

     73        14        36   

Accounts payable

     (99     (44     10   

Accounts payable, affiliated companies

     51        81        (48

Accrued and other current liabilities

     (28     1        (19

Other operating

     (14     (1     (10
  

 

 

   

 

 

   

 

 

 

Net cash provided by operating activities

     70        348        355   
  

 

 

   

 

 

   

 

 

 

Cash flows from investing activities:

      

Cash paid for acquisitions, net of cash acquired

     —          (115     12   

Capital expenditures

     (16     (74     (39

Contribution from ETP

     —          114        —     

Proceeds from Sunoco LLC Transaction

     775        —          —     

Proceeds from MACS Transaction

     —          496        —     

Purchase of intangibles

     (28     —          —     

Distributions from unconsolidated affiliates in excess of cumulative earnings

     41        —          53   

Proceeds from dispositions

     2        8        8   
  

 

 

   

 

 

   

 

 

 

Net cash provided by investing activities

     774        429        34   
  

 

 

   

 

 

   

 

 

 

Cash flows from financing activities:

      

Advances (to) from affiliates—Sunoco, Inc.

     110        (224     (371

Distributions to ETP

     (954     (560     —     

Distributions to non-controlling interest

     —          (6     —     

Other

     —          (3     (2
  

 

 

   

 

 

   

 

 

 

Net cash used in financing activities

     (844     (793     (373
  

 

 

   

 

 

   

 

 

 

Change in cash and cash equivalents

     —          (16     16   

Cash and cash equivalents, beginning of period

     —          16        —     
  

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, end of period

   $ —        $ —        $ 16   
  

 

 

   

 

 

   

 

 

 

Non-Cash Investing Activities:

      

Non-cash contribution

   $ —        $ 5      $ —     
  

 

 

   

 

 

   

 

 

 

Non-Cash Financing Activities:

      

Non-cash contribution (See Note 9)

   $ —        $ 325      $ 38   
  

 

 

   

 

 

   

 

 

 

The accompanying notes are an integral part of these consolidated and combined financial statements.

 

F-7

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