We had unused revolver capacity, which is available commitments under the Prior Credit Agreement of
$209.3 million, $234.6 million, $486.5 million and $419.9 million at the end of the first, second, third and
fourth quarters of 2010, respectively.
During 2010, we had the following net movements on our revolving credit facility:
• $247.7 million repayment financed by the issue of $250.0 million of 3.25% Senior Notes due October 1,
2015;
• $93.1 million repayment financed by the issue of 2,990,000 common units in August 2010; and
• $96.2 million repayment financed by the issue of 2,875,000 common units in November 2010; partially
offset by
• $66.3 million borrowing to fund the acquisition of Atlantic Energy, which includes $17.3 million for
propane inventory and working capital;
• $16.3 million net borrowings for general corporate purposes;
• $22.0 million borrowing to fund the acquisition of the Wattenberg pipeline;
• $16.6 million borrowing to fund the acquisition of an additional 55% interest in Black Lake;
• $100.8 million borrowing to fund the acquisition of Marysville, which includes $6.0 million for
inventory and working capital; and
• $10.0 million borrowing to fund repayment of our term loan.
During 2010, we had a repayment of $10.0 million on our term loan and released $10.0 million of
restricted investments which were required as collateral for the facility.
Net cash used in financing activities during 2009 was comprised of: (1) repayments of debt of $280.5
million; (2) distributions to our unitholders and general partner of $85.3 million; (3) distributions to
noncontrolling interests of $27.0 million; and (4) net changes in advances to predecessor from DCP Midstream,
LLC of $6.4 million, partially offset by (5) borrowings of $237.0 million; (6) contributions from noncontrolling
interests of $78.7 million; (7) the issuance of common units for $69.5 million, net of offering costs; and
(8) contributions from DCP Midstream, LLC of $0.7 million.
During 2009, 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 $608.3 million and did not exceed $656.8 million. The weighted average
indebtedness outstanding was $656.7 million, $644.4 million, $638.3 million and $620.4 million for the first,
second, third and fourth quarters of 2009, respectively.
We had liquidity, which is available commitments under the Prior Credit Agreement of $239.3 million,
$221.3 million, $221.3 million and $221.3 million at the end of the first, second, third and fourth quarters of
2009, respectively.
During 2009, we had the following net movements on our Prior Credit Agreement:
• $50.0 million borrowing under our revolving credit facility to fund a partial repayment of our term loan;
partially offset by
• $43.5 million repayment under our revolving credit facility.
We expect to continue to use cash in financing activities for the payment of distributions to our unitholders
and general partner. See Note 13 of the Notes to Consolidated Financial Statements in Item 8. “Financial
Statements and Supplementary Data.”
88