Emerge Energy Services LP

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ (128,543)	$ (6,832)	$ (72,770)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation, depletion and amortization	19,633	21,899	21,480
Asset impairments	105,645	0	0
Equity-based compensation expense	1,507	1,423	719
Project and contract termination costs	1,689	0	4,008
Loss on extinguishment of debt	1,906	0	0
Unrealized (gain) loss on fair value of warrant	(2,530)	(4,208)	2,090
Write-down of escrow receivable	0	3,125	0
Provision for doubtful accounts	310	17	1,215
Loss (gain) on disposal of assets	619	79	635
Amortization of debt discount/premium and deferred financing costs	8,277	3,901	6,170
Non-capitalized cost of private placement	0	0	404
Write-down of inventory	4,694	0	5,394
Unrealized (gain) loss on derivative instruments	0	(227)	224
Gain on sale of discontinued operations	0	0	(31,699)
Other non-cash charges	122	113	117
Changes in operating assets and liabilities:
Accounts receivable	40,281	(31,865)	(2,063)
Inventories	(4,193)	(10,368)	9,052
Prepaid expenses and other current assets	(5,519)	1,918	2,533
Accounts payable and accrued liabilities	(9,720)	18,065	(4,910)
Other assets	(323)	857	10,075
Cash flows from operating activities	33,855	(2,103)	(47,326)
Cash flows from investing activities:
Purchases of property, plant and equipment	(78,555)	(7,448)	(13,523)
Net proceeds from disposal of assets	1,188	211	82
Asset acquisition	0	(20,430)	0
Proceeds from sale of discontinued operations, net	0	0	153,973
Collection of notes receivable	0	0	9
Cash flows from investing activities	(77,367)	(27,667)	140,541
Cash flows from financing activities:
Net proceeds from private placement	0	0	18,359
Net proceeds from public offering	0	0	36,881
Proceeds from line of credit borrowings	49,014	356,262	320,726
Proceeds from second lien term notes	176,048	39,597	0
Repayment of line of credit borrowings	(159,714)	(353,263)	(482,089)
Repayment of second lien term note	(5,375)	0	0
Repayment of other long-term debt	(4,382)	0	0
Payment of business acquisition obligation	(1,344)	(2,802)	(848)
Payment of financing costs	(12,844)	(4,158)	(6,733)
Other financing activities	(61)	(141)	(377)
Cash flows from financing activities	41,342	35,495	(114,081)
Cash and cash equivalents:
Net increase (decrease)	(2,170)	5,725	(20,866)
Balance at beginning of period	5,729	4	20,870
Balance at end of period	$ 3,559	$ 5,729	$ 4

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 3,559	$ 5,729
Trade and other receivables, net	16,355	56,951
Inventories	27,324	27,825
Prepaid expenses and other current assets	11,849	6,331
Total current assets	59,087	96,836
Property, plant and equipment, net	140,384	185,970
Intangible assets, net	6	1,664
Other assets, net	11,942	15,646
Total assets	211,419	300,116
Current liabilities:
Accounts payable	23,023	18,819
Accrued liabilities	17,319	29,718
Current portion of long-term debt	227,462	0
Total current liabilities	267,804	48,537
Long-term debt, net of current portion	0	176,351
Obligation for business acquisition, net of current portion	4,083	5,013
Other long-term liabilities	11,546	21,106
Total liabilities	283,433	251,007
Commitments and contingencies
Partners’ equity:
General partner	0	0
Limited partner common units	(72,014)	49,109
Total partners’ equity	(72,014)	49,109
Total liabilities and partners’ equity	$ 211,419	$ 300,116