unconsolidated affiliates of $28.6 million; partially offset by (4) net proceeds from sale of available-for-sale
securities of $10.1 million; (5) proceeds from sale of assets of $3.4 million; and (6) a return of investment from
Discovery of $1.2 million.
Net cash used in investing activities during 2009 was primarily used for: (1) capital expenditures of $164.8
million (our portion of which was $79.7 million and the noncontrolling interest holders’ portion was $85.1
million), which primarily consisted of expenditures for installation of compression and expansion of our East
Texas system, expansion of our Colorado system, and the completion of pipeline integrity system upgrades to
our Wyoming system; (2) acquisition expenditure of $44.5 million, primarily related to the acquisition of
certain companies that held natural gas gathering and treating assets from MichCon Pipeline Company of $45.1
million; and (3) investments in Discovery of $7.0 million, partially offset by (4) net proceeds from sale of
available-for-sale securities of $50.0 million; (5) a return of investment from Discovery of $2.2 million; and
(6) proceeds from sale of assets of $0.3 million.
Net Cash Provided By (Used in) Financing Activities —
Net cash provided by financing activities during
2011 was comprised of: (1) proceeds from the issuance of common units, net of offering costs, of $169.7
million; (2) net borrowing of debt of $99.0 million; and (3) contributions from noncontrolling interests of $18.3
million; partially offset by (4) distributions to our unitholders and general partner of $132.4 million; (5) excess
purchase price over the acquired net assets of Southeast Texas of $35.7 million; (6) distributions to
noncontrolling interests of $44.8 million; and (7) payment of deferred financing costs of $4.2 million.
During 2011, total outstanding indebtedness under our $1.0 billion Credit Agreement, which includes
borrowings under our revolving credit facility and letters of credit issued under the Credit Agreement, was not
less than $425.5 million and did not exceed $591.1 million. The weighted-average indebtedness outstanding
under the revolving credit facility was $519.1 million, $454.1 million, $483.8 million and $517.1 million for the
first, second, third and fourth quarters of 2011, respectively.
We had unused revolver capacity, which is available for commitments under the Prior Credit Agreement
or the Credit Agreement, of $423.5 million, $387.9 million, $372.9 million and $501.9 million at the end of the
first, second, third and fourth quarters of 2011, respectively.
During 2011, we had the following net movements on our revolving credit facility:
• $150.0 million borrowing to fund the acquisition of our 33.33% interest in Southeast Texas;
• $30.0 million borrowing to fund the purchase of the DJ Basin NGL Fractionators;
• $29.6 million borrowing to fund the Marysville tax payment;
• $23.4 million borrowing to fund the purchase of certain tangible assets and land located in the Eagle
Ford Shale; and
• $5.7 million net borrowings; partially offset by
• $139.7 million repayment financed by the issue of 3,596,636 common units in March 2011.
Net cash provided by financing activities during 2010 was comprised of: (1) borrowings of $868.2 million;
(2) proceeds from the issuance of common units net of offering costs of $189.3 million; and (3) contributions
from noncontrolling interests of $13.8 million; partially offset by (4) repayments of debt of $833.4 million;
(5) distributions to our unitholders and general partner of $101.9 million; (6) net change in advances to
predecessor from DCP Midstream, LLC of $27.4 million; (7) distributions to noncontrolling interests of $25.6
million; (8) purchase of additional interest in a subsidiary of $3.5 million; (9) payment of deferred financing
costs of $2.1 million; and (10) contributions from DCP Midstream, LLC of $0.6 million.
During 2010, total outstanding indebtedness under our $850.0 million Prior Credit Agreement, which
includes borrowings under our revolving credit facility, our term loan and letters of credit issued under the Prior
Credit Agreement, was not less than $300.5 million and did not exceed $722.4 million. The weighted-average
indebtedness outstanding under the revolving credit facility was $622.5 million, $625.9 million, $634.7 million
and $347.9 million for the first, second, third and fourth quarters of 2010, respectively.
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