Consolidating Guarantor Financial Information (Notes)

3 Months Ended

Mar. 31, 2015

Statement of Financial Position [Abstract]

CONSOLIDATING GUARANTOR FINANCIAL INFORMATION

ELG, Aqua - PVR, and ORS do not fully and unconditionally guarantee, on a joint and several basis, the Senior Notes issued and outstanding as of March 31, 2015, by the Partnership and Finance Corp. Included in the Parent financial statements are the Partnership’s intercompany investments in all consolidated subsidiaries and the Partnership’s investments in unconsolidated affiliates. ELG, Aqua - PVR, and ORS are included in the non-guarantor subsidiaries.

The consolidating financial information for the Parent, Guarantor Subsidiaries, and Non Guarantor Subsidiaries are as follows:



	March 31, 2015
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Partnership
ASSETS
Cash	$	—	$	—	$	66	$	(7	)	$	59
All other current assets	—		596		9		(1		)	604
Property, plant, and equipment, net	—		9,186		437		(83		)	9,540
Investments in subsidiaries	19,633		—		—		(19,633		)	—
Investments in unconsolidated affiliates	—		2,283		—		201			2,484
All other assets	—		4,729		—		—			4,729
TOTAL ASSETS	$	19,633	$	16,794	$	512	$	(19,523	)	$	17,416

LIABILITIES AND PARTNERS’ CAPITAL AND NONCONTROLLING INTEREST
All other current liabilities	—		627		21		(5		)	643
Long-term liabilities	5,181		2,160		1		—			7,342
Noncontrolling interest	—		—		—		155			155
Total partners’ capital	14,452		14,007		490		(19,673		)	9,276
TOTAL LIABILITIES AND PARTNERS’ CAPITAL AND NONCONTROLLING INTEREST	$	19,633	$	16,794	$	512	$	(19,523	)	$	17,416



	December 31, 2014
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Partnership
ASSETS
Cash	$	—	$	—	$	32	$	(8	)	$	24
All other current assets	—		667		13		(1		)	679
Property, plant, and equipment, net	—		8,948		353		(84		)	9,217
Investments in subsidiaries	19,829		—		—		(19,829		)	—
Investments in unconsolidated affiliates	—		2,252		—		166			2,418
All other assets	—		4,765		—		—			4,765
TOTAL ASSETS	$	19,829	$	16,632	$	398	$	(19,756	)	$	17,103

LIABILITIES AND PARTNERS’ CAPITAL AND NONCONTROLLING INTEREST
All other current liabilities	—		723		34		(1		)	756
Long-term liabilities	5,185		1,575		6		(4		)	6,762
Noncontrolling interest	—		—		—		120			120
Total partners’ capital	14,644		14,334		358		(19,871		)	9,465
TOTAL LIABILITIES AND PARTNERS’ CAPITAL AND NONCONTROLLING INTEREST	$	19,829	$	16,632	$	398	$	(19,756	)	$	17,103



	Three Months Ended March 31, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated Partnership
Revenues	$	—		$	982		$	17	$	—		$	999
Operating costs, expenses, and other	—			961			9		(2		)	968
Operating income	—			21			8		2			31
Income from unconsolidated affiliates	—			50			—		—			50
Interest expense, net	(76		)	(6		)	—		—			(82		)
Equity in consolidated subsidiaries	74			—			—		(74		)	—
Other income and deductions, net	2			1			—		—			3
Income before income taxes	—			66			8		(72		)	2
Income tax expense	5			—			—		—			5
Net (loss) income	(5		)	66			8		(72		)	(3		)
Net income attributable to noncontrolling interest	—			—			—		(4		)	(4		)
Net (loss) income attributable to Regency Energy Partners LP	$	(5	)	$	66		$	8	$	(76	)	$	(7	)

Total other comprehensive income	$	—		$	—		$	—	$	—		$	—
Comprehensive (loss) income	(5		)	66			8		(72		)	(3		)
Comprehensive income attributable to noncontrolling interest	—			—			—		4			4
Comprehensive (loss) income attributable to Regency Energy Partners LP	$	(5	)	$	66		$	8	$	(76	)	$	(7	)



	Three Months Ended March 31, 2014
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated Partnership
Revenues	$	—		$	848		$	15	$	—		$	863
Operating costs, expenses, and other	—			834			7		—			841
Operating income	—			14			8		—			22
Income from unconsolidated affiliates	—			43			—		—			43
Interest expense, net	(49		)	(7		)	—		—			(56		)
Equity in consolidated subsidiaries	51			—			—		(51		)	—
Other income and deductions, net	(1		)	3			—		—			2
Income before income taxes	1			53			8		(51		)	11
Income tax (benefit) expense	—			(2		)	1		—			(1		)
Net income	1			55			7		(51		)	12
Net income attributable to noncontrolling interest	—			(3		)	—		—			(3		)
Net income attributable to Regency Energy Partners LP	$	1		$	52		$	7	$	(51	)	$	9

Total other comprehensive income	$	—		$	—		$	—	$	—		$	—
Comprehensive income	1			55			7		(51		)	12
Comprehensive income attributable to noncontrolling interest	—			3			—		—			3
Comprehensive income attributable to Regency Energy Partners LP	$	1		$	52		$	7	$	(51	)	$	9



	Three Months Ended March 31, 2015
	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Partnership
Cash flows from operating activities	$	—	$	108		$	8		$	6		$	122
Cash flows from investing activities	—		(449		)	(100		)	26			(523		)
Cash flows from financing activities	—		341			126			(31		)	436
Change in cash	—		—			34			1			35
Cash at beginning of period	—		—			32			(8		)	24
Cash at end of period	$	—	$	—		$	66		$	(7	)	$	59



	Three Months Ended March 31, 2014
	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Partnership
Cash flows from operating activities	$	—	$	168		$	18		$	1		$	187
Cash flows from investing activities	—		(451		)	(3		)	—			(454		)
Cash flows from financing activities	—		283			(21		)	(1		)	261
Change in cash	—		—			(6		)	—			(6		)
Cash at beginning of period	—		—			19			—			19
Cash at end of period	$	—	$	—		$	13		$	—		$	13

Regency Energy Partners LP 10-Q