CROSSTEX ENERGY INC

CIK:0001209821|SEC Filings

Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenues:
Midstream	$ 1,944,312	$ 1,791,288	$ 2,013,942
Operating costs and expenses:
Purchased gas, condensate, NGLs and crude oil	1,546,987	1,397,530	1,638,777
Operating expenses	150,858	130,882	111,778
General and administrative	79,993	65,083	55,516
(Gain) loss on sale of property	(1,055)	(342)	264
Loss on derivatives	2,304	1,006	7,776
Impairments	72,576	0	0
Depreciation and amortization	140,285	162,300	125,358
Total operating costs and expenses	1,991,948	1,756,459	1,939,469
Operating income (loss)	(47,636)	34,829	74,473
Other income (expense):
Interest expense, net of interest income	(76,859)	(86,515)	(79,227)
Equity in income of limited liability company	46	3,250	0
Other income	1,600	5,054	707
Total other expense	(75,213)	(78,211)	(78,520)
Loss before non-controlling interest and income taxes	(122,849)	(43,382)	(4,047)
Income Tax Benefit	10,214	6,642	2,768
Net loss	(112,635)	(36,740)	(1,279)
Less: Net income (loss) attributable to the noncontrolling interest	(82,999)	(24,259)	4,728
Net loss attributable to Crosstex Energy, Inc.	$ (29,636)	$ (12,481)	$ (6,007)
Net loss per common Share:
Earnings Per Share, Basic	$ (0.60)	$ (0.26)	$ (0.12)
Earnings Per Share, Diluted	$ (0.60)	$ (0.26)	$ (0.12)
Weighted Average Number of Shares Outstanding, Basic	47,664	47,384	47,150
Weighted Average Number of Shares Outstanding, Diluted	47,664	47,384	47,150
Dividend paid per common share	$ 0.49	$ 0.47	$ 0.37

Derivatives (Impact of Cash Flow Hedges Table) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Liquids realized loss included in Midstream revenue	$ 768	$ 1,381	$ (2,772)

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 1,821	$ 2,976
Accounts receivable:
Trade, net of allowance for bad debts of $629 and $535 respectively	74,196	63,690
Accrued revenues	208,597	150,734
Imbalances	4,235	1,533
Other	6,670	3,561
Fair value of derivative assets	302	3,234
Natural gas and natural gas liquids inventory, prepaid expenses and other	17,935	11,866
Assets held for disposition	0	22,599
Total current assets	313,756	260,193
Property and Equipment:
Transmission assets	769,424	397,381
Gathering systems	729,179	723,626
Gas processing plants	614,435	586,294
Other property and equipment	131,333	88,326
Construction in process	297,348	180,976
Total property and equipment	2,541,719	1,976,603
Accumulated depreciation	(603,936)	(504,442)
Total property and equipment, net	1,937,783	1,472,161
Intangible assets, net of accumulated amortization of $227,883 and $263,305, respectively	316,222	425,005
Goodwill	153,802	152,627
Fair Value of derivative assets	556	0
Investment in limited liability company	103,673	90,500
Other assets, net	23,035	25,989
Total assets	2,848,827	2,426,475
Current liabilities:
Drafts payable	13,413	4,093
Accounts payable	18,140	25,839
Accrued gas, condensate and crude oil purchases	200,585	140,344
Accrued imbalances payable	4,832	2,333
Accrued Capital Expenditures	31,270	23,495
Fair value of derivative liabilities	1,168	1,310
Accrued interest	26,915	26,712
Liabilities held for disposition	0	3,572
Other Liabilities, Current	41,256
Other current liabilities		48,421
Total current liabilities	337,579	276,119
Long-term debt	1,200,472	1,036,305
Other long-term liabilities	27,077	30,256
Deferred Tax Liability	129,428	133,555
Fair value of derivatives liabilities	755	0
Stockholders' equity:
Common Stock (150,000,000 shares authorized, $.01 par value, 47,756,973 and 47,413,789 issued and outstanding in 2013 and 2012, respectively)	476	473
Additional Paid in Capital	307,835	274,635
Accumulated Deficit	(171,263)	(117,583)
Accumulated other comprehensive income (loss)	(58)	141
Total Crosstex Energy, Inc. stockholders' equity	136,990	157,666
Interest of non-controlling partners in the Partnership	1,016,526	792,574
Total stockholders' equity	1,153,516	950,240
Total liabilities and stockholders' equity	$ 2,848,827	$ 2,426,475