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Southern Star Central Corporation
Business Summary
Southern Star Central Corporation is a privately-held company that operates in the natural gas industry. Southern Star Central Corporation headquarters are located in Owensboro, Kentucky. Southern Star Central Corporation operates as a subsidiary of EFS-SSCC Holdings LLC.
Overview & Corporate Organization
Basic Information
| Fiscal Year End: | 12/31 |
| 1YR Revenue Growth Rate: | View % |
| 3YR Revenue Growth Rate (CAGR): | View % |
| City: | Owensboro |
| State/Province: | Kentucky |
| Country: | United States |
| Phone: | View |
| Fax: | View |
| Website: | www.southernstarcentralcorp.com |
Industry Information
PrivCo Industries (Sector > Industry > Sub-Industry)
| Energy & Utilities (Traditional) > Integrated Oil And Natural Gas > Natural Gas Distribution |
The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.
Charts, Financials, and Statistics (Table Format)
Copy & Paste Financials Into Spreadsheet or
| Income Statement | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 |
| Natural Gas Storage Revenue | View | View | View | View | View | View | $20,143,000 | $17,458,000 | $16,395,000 | $17,263,000 | $16,316,000 |
| Revenue from Transportation | View | View | View | View | View | View | $161,146,000 | $146,127,000 | $141,838,000 | $142,205,000 | $141,630,000 |
| Other Operating Revenue | View | View | View | View | View | View | $648,000 | $747,000 | $365,000 | $490,000 | $878,000 |
| Revenues | View | View | View | View | View | View | $181,937,000 | $0 | $158,598,000 | $159,958,000 | $158,824,000 |
| Direct Operating Costs | View | View | View | View | View | View | $38,270,000 | $37,508,000 | $34,398,000 | $33,971,000 | $36,633,000 |
| General and Administrative Expenses | View | View | View | View | View | View | $39,497,000 | $37,026,000 | $40,989,000 | $39,079,000 | $37,481,000 |
| Depreciation and Amortization | View | View | View | View | View | View | $28,183,000 | $27,781,000 | $29,279,000 | $32,166,000 | $32,492,000 |
| Taxes Other than Income Taxes | View | View | View | View | View | View | $12,318,000 | $10,831,000 | $10,994,000 | $9,475,000 | $9,820,000 |
| Cost and Operating Expenses | View | View | View | View | View | View | $118,268,000 | $0 | $115,660,000 | $114,691,000 | $116,426,000 |
| Operating Income/(Loss) | View | View | View | View | View | View | $63,669,000 | $51,186,000 | $42,938,000 | $45,267,000 | $42,398,000 |
| Interest Expense | View | View | View | View | View | View | $36,506,000 | $40,856,000 | $42,396,000 | $15,437,000 | $13,502,000 |
| Interest Income | View | View | View | View | View | View | $1,456,000 | $651,000 | $705,000 | $1,215,000 | $1,814,000 |
| Gain/(Loss) on Disposition of Assets | ($5,000) | $3,000 | |||||||||
| Non-operating Income - Other | View | View | View | ||||||||
| Non-operating Income/(Expense) - Other | View | View | View | $8,000 | ($2,401,000) | $3,392,000 | ($5,685,000) | $3,876,000 | |||
| Non-operating Income/(Expense) | View | View | View | View | View | View | ($35,042,000) | ($42,606,000) | ($38,299,000) | ($19,912,000) | ($7,809,000) |
| Income/(Loss) from Continuing Operations Before Income Taxes | View | View | View | View | View | View | $28,627,000 | $8,580,000 | $4,639,000 | $25,355,000 | $34,589,000 |
| Provision for Income Taxes | View | View | View | View | View | View | $13,473,000 | $6,511,000 | $4,804,000 | $13,918,000 | $13,761,000 |
| Net Income (Loss) | View | View | View | View | View | View | $15,154,000 | $2,069,000 | ($165,000) | $11,437,000 | $20,828,000 |
| Total Comprehensive Net Income | View | View |
| Balance Sheet | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
| Cash and Cash Equivalents | View | View | View | View | View | View | $62,287,000 | $41,702,000 | $65,887,000 | $42,408,000 |
| Short-Term Investments | $8,000,000 | |||||||||
| Net Accounts Receivable Trade | View | View | View | View | View | View | $15,948,000 | $13,747,000 | $12,584,000 | |
| Current Accounts Receivable, Product and Transportation | View | View | View | View | View | View | $7,287,000 | $1,295,000 | $785,000 | |
| Net Income Taxes Receivable | View | View | View | View | View | View | $285,000 | $4,466,000 | $163,000 | $0 |
| Net Other Receivables | View | View | View | $7,224,000 | ||||||
| Accounts Receivable - Related Parties | $42,391,000 | $42,391,000 | ||||||||
| Current Amounts Due From Affiliates | $21,000 | $250,000 | $247,000 | |||||||
| Net Inventories | View | View | View | View | View | View | $5,741,000 | $5,695,000 | $5,444,000 | $6,105,000 |
| Asset Recoverable Gas Costs | View | View | View | View | View | View | $1,000,000 | $13,116,000 | $1,557,000 | $2,223,000 |
| Current Deferred Income Taxes | View | View | View | View | View | View | $1,375,000 | $2,179,000 | $205,000 | $1,604,000 |
| Current Derivative Assets | $460,000 | $0 | ||||||||
| Other Prepaid Expenses | $4,519,000 | $4,370,000 | ||||||||
| Prepaid Expenses | View | View | View | View | View | View | $4,461,000 | $5,555,000 | ||
| Current Other Assets | View | View | View | View | View | View | $11,487,000 | $1,338,000 | $3,105,000 | $4,130,000 |
| Current Assets | View | View | View | View | View | View | $103,102,000 | $96,252,000 | $138,505,000 | $133,256,000 |
| Total Gas Gathering and Processing Equipment | View | View | View | View | View | View | $506,223,000 | $543,376,000 | $510,676,000 | $493,427,000 |
| Other Property, Plant and Equipment | View | View | View | View | View | View | $22,280,000 | $16,483,000 | $30,225,000 | $32,108,000 |
| Property, Plant and Equipment, Gross | View | View | View | View | View | View | $559,859,000 | $540,901,000 | $525,535,000 | |
| Accumulated Depreciation and Amortization | View | View | View | View | View | View | $796,000 | $31,784,000 | $26,752,000 | $2,168,000 |
| Net Property, Plant and Equipment | View | View | View | View | View | View | $527,707,000 | $528,075,000 | $514,149,000 | $523,367,000 |
| Noncurrent Amounts Due From Employee | View | View | View | View | $7,027,000 | |||||
| Noncurrent Derivative Assets | $213,000 | $0 | ||||||||
| Goodwill | View | View | View | View | View | View | $324,366,000 | $33,990,000 | $35,915,000 | $30,366,000 |
| Noncurrent Prepaid Expenses | View | View | View | View | View | View | $1,551,000 | $1,801,000 | $2,026,000 | $2,262,000 |
| Other Deferred Long Term Asset Charges | View | View | View | View | View | View | $3,965,000 | $9,390,000 | $11,212,000 | $8,425,000 |
| Asset Recovery Damaged Property Costs -Noncurrent | View | View | View | View | View | View | $48,585,000 | $32,828,000 | $45,832,000 | $25,564,000 |
| Assets | View | View | View | View | View | View | $1,016,303,000 | $702,549,000 | $747,639,000 | $723,240,000 |
| Oil and Gas Sales Payable | View | $7,287,000 | $1,295,000 | $784,000 | ||||||
| Accounts Payable - Trade | View | View | View | View | View | View | $2,497,000 | ($14,375,000) | $1,653,000 | $2,641,000 |
| Accounts Payable - Other | View | View | View | View | $6,594,000 | |||||
| Accrued Expenses - Other | View | View | View | View | View | View | $7,529,000 | $10,759,000 | $6,696,000 | $7,935,000 |
| Dividends Payable | $12,500,000 | $0 | ||||||||
| Interest Payable | View | View | View | View | View | View | $8,548,000 | $8,491,000 | $7,790,000 | $3,421,000 |
| Accrual for Taxes Other than Income Taxes | View | View | View | View | View | View | $5,067,000 | $4,403,000 | $4,592,000 | $4,063,000 |
| Accrued Salaries | $18,676,000 | $16,035,000 | $9,983,000 | |||||||
| Employee Related Liabilities | View | View | View | View | View | View | $12,113,000 | |||
| Current Amounts Due To Affiliates | $127,000 | $127,000 | ||||||||
| Current Customer Advances | View | View | View | View | $1,741,000 | $0 | $441,000 | $0 | ||
| Accrued Taxes | $4,217,000 | $45,165,000 | $47,196,000 | |||||||
| Income Taxes Payable | View | View | View | View | ||||||
| Current Portion of Long-Term Debt | $224,912,000 | $0 | ||||||||
| Current Notes Payable | $7,250,000 | $0 | $203,995,000 | |||||||
| Other Current Payables | View | View | ||||||||
| Current Capital Lease Obligations | View | View | View | View | View | View | $735,000 | $730,000 | $0 | |
| Current Commodity Contract Liabilities | $1,995,000 | $4,000,000 | ||||||||
| Current Regulatory Liability | $3,015,000 | |||||||||
| Current Other Liabilities | $7,193,000 | $3,572,000 | $4,467,000 | |||||||
| Current Liabilities | View | View | View | View | View | View | $277,585,000 | $62,853,000 | $102,756,000 | $290,739,000 |
| Other Debt - Long-Term | View | View | View | View | View | View | $194,444,000 | $404,823,000 | $404,740,000 | |
| Long-Term Debt | View | $202,344,000 | $413,093,000 | $404,740,000 | $174,664,000 | |||||
| Capital Lease Obligations - Long-Term | View | View | View | View | View | View | $7,900,000 | $8,270,000 | $0 | |
| Debt and Capital Lease Obligations - Long-Term | View | View | View | View | View | |||||
| Hedging Liability - Non Current | $524,000 | $0 | ||||||||
| Noncurrent Customer Advances | View | View | View | View | View | View | $7,143,000 | $1,000 | $1,864,000 | $1,030,000 |
| Pension Obligations | View | View | View | View | View | View | $28,941,000 | $14,346,000 | $20,339,000 | $7,381,000 |
| Other Postretirement Benefit Obligations | View | View | View | View | View | View | $10,165,000 | $9,747,000 | $14,061,000 | $6,606,000 |
| Environmental Liability | View | View | View | View | View | View | $3,598,000 | $4,730,000 | $5,549,000 | $6,200,000 |
| Asset Retirement Obligation | View | View | View | View | View | View | $2,157,000 | $0 | ||
| Deferred Tax Liability | View | View | View | View | View | View | $18,695,000 | $14,112,000 | $5,278,000 | $1,457,000 |
| Noncurrent Other Liabilities | View | View | View | View | View | View | $1,161,000 | $1,206,000 | $3,004,000 | $9,421,000 |
| Preferred Stock Obligations | $0 | |||||||||
| Redeemable Preferred Stock Obligations | $51,184,000 | $48,265,000 | ||||||||
| Common Stock - Value (Excluding Additional Paid in Capital) | View | View | View | View | View | View | $0 | $0 | $0 | $0 |
| Additional Paid in Capital | View | View | View | View | View | View | $454,721,000 | $128,501,000 | $141,001,000 | $225,000,000 |
| Retained Earnings | View | View | View | View | View | View | $9,751,000 | $2,646,000 | $577,000 | $742,000 |
| Other Accumulated Comprehensive Income, Net of Tax Effect | $42,000 | $130,000 | ($319,000) | $0 | ||||||
| Stockholders' Equity | View | View | View | View | View | View | $464,514,000 | $131,277,000 | $141,259,000 | $225,742,000 |
| Liabilities and Stockholders' Equity | View | View | View | View | View | View | $1,016,303,000 | $702,549,000 | $747,639,000 | $723,240,000 |
| Cash Flow Statement | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 |
| Operating Activities Beginning Net Income | View | View | View | View | View | View | $15,154,000 | $2,069,000 | ($165,000) | $11,437,000 | $20,828,000 |
| Adjustment Amortization - Debt Discount | View | View | View | ||||||||
| Total Adjustment Amortization - Debt Discount and Debt Issuance | View | View | View | $919,000 | $2,431,000 | $6,763,000 | |||||
| Depreciation and Amortization | View | View | View | View | View | View | $28,183,000 | $27,781,000 | $29,279,000 | $32,166,000 | $32,492,000 |
| Total Adjustments to Provision for Doubtful Accounts | $0 | $7,361,000 | $0 | ||||||||
| Change Regulatory Liabilities | $902,000 | $1,776,000 | |||||||||
| Adjustment Gain/(Loss) on Oil and Gas Property, Plant and Equipment | $0 | ||||||||||
| Adjustment Gain/(Loss) on Sale/Retirement of Property, Plant and Equipment | ($2,000) | ($4,694,000) | $3,000 | ||||||||
| Adjustment Derivatives | View | $0 | $0 | ||||||||
| Adjustment Property Plant Equipment | View | $0 | $5,000 | ||||||||
| Adjustment Realized Gains Losses On Sale Asset | View | View | View | ||||||||
| Deferred Income Taxes | View | View | View | View | View | View | $13,018,000 | $6,572,000 | $5,425,000 | $4,600,000 | $8,585,000 |
| Other Adjustments to Common Stockholders' Net Income - Increase/(Decrease) | $4,065,000 | $5,294,000 | $6,069,000 | ($4,182,000) | $0 | ||||||
| Increase/(Decrease) in Receivables | View | View | View | View | View | View | ($669,000) | ($37,307,000) | ($3,337,000) | ($35,205,000) | ($11,672,000) |
| Increase/(Decrease) in Inventories | View | View | View | View | View | View | $46,000 | $251,000 | ($661,000) | $13,000 | ($582,000) |
| Increase/(Decrease) in Other Current Assets | View | View | View | View | View | View | $256,000 | $104,000 | ($4,954,000) | $12,716,000 | ($2,923,000) |
| Increase/(Decrease) in Accounts Payable and Accrued Expenses | View | View | View | View | View | View | $2,870,000 | ($46,024,000) | $1,925,000 | ($23,418,000) | ($9,686,000) |
| Net Other Increase/(Decrease) in Working Capital | View | View | View | View | View | View | ($1,066,000) | ($580,000) | $2,349,000 | $9,712,000 | ($7,497,000) |
| Net Cash Flows Provided By/(Used In) Operating Activities | View | View | View | View | View | View | $65,644,000 | $40,349,000 | $55,899,000 | $41,635,000 | $76,666,000 |
| Capital Additions | View | View | View | $31,083,000 | $23,606,000 | $25,162,000 | $78,853,000 | ||||
| Purchase of Property, Plant and Equipment | View | View | View | $27,335,000 | |||||||
| Purchase Interest in Unconsolidated Affiliates | ($247,000) | $0 | ($27,479,000) | $949,000 | |||||||
| Acquisition of Businesses, Net of Cash Acquired | $377,492,000 | $0 | |||||||||
| Proceeds from Sale of Property, Plant and Equipment | View | View | View | View | View | View | ($1,090,000) | ($3,166,000) | ($904,000) | $526,000 | $3,029,000 |
| Net Other Investing Activities | ($8,093,000) | $8,000,000 | $0 | ||||||||
| Net Cash Flows Provided By/(Used In) Investing Activities | View | View | View | View | View | View | ($28,425,000) | ($34,002,000) | ($16,417,000) | ($382,649,000) | ($76,773,000) |
| Proceeds from Notes Payable | $204,487,000 | $0 | |||||||||
| Repayments on Notes Payable | View | $0 | $0 | $203,995,000 | $492,000 | $0 | |||||
| Net Proceeds from Issuance of Long-Term Debt and Capital Securities | View | View | View | $5,000,000 | $0 | $230,000,000 | $0 | $0 | |||
| Reduction of Capital Lease Obligations | View | View | View | View | View | View | $365,000 | $0 | $0 | ||
| Repayments Debt | $0 | ||||||||||
| Repayments of Long-Term Debt and Capital Securities | View | View | $5,000,000 | $0 | |||||||
| Debt Issuance Costs | View | View | View | View | View | View | $120,000 | $730,000 | $9,305,000 | $5,319,000 | $0 |
| Proceeds from Issuance of Common Stock | $225,000,000 | $0 | |||||||||
| Proceeds from Issuance of Preferred Stock | $50,000,000 | $0 | $0 | ||||||||
| Repurchase of Common Stock | $50,000,000 | $0 | $0 | ||||||||
| Stock Issuance Costs | $832,000 | $0 | $0 | ||||||||
| Payment of Dividends - Common Stock | View | View | View | View | View | View | $13,867,000 | $25,000,000 | $25,000,000 | $30,480,000 | $0 |
| Payment of Dividends - Preferred Stock | $2,282,000 | $4,802,000 | $3,730,000 | $0 | $0 | ||||||
| Net Change Early Extinguishment of Debt | View | View | $0 | ||||||||
| Cash Provided by/(Used in) Financing Activities - Other | View | $0 | $0 | ($3,141,000) | $0 | $0 | |||||
| Net Cash Flows Provided By/(Used In) Financing Activities | View | View | View | View | View | View | ($16,634,000) | ($30,532,000) | ($16,003,000) | $393,196,000 | $0 |
| Increase/(Decrease) in Cash and Cash Equivalents | View | View | View | View | View | View | $20,585,000 | ($24,185,000) | $23,479,000 | $52,182,000 | ($107,000) |
| Cash and cash equivalents at the beginning of the year | View | View | View | View | View | View | $44,525,000 | $65,887,000 | $42,408,000 | $0 | $133,000 |
| Total Cash and cash equivalents at the end of the year | View | View | View | View | View | View | $62,287,000 | $41,702,000 | $65,887,000 | $42,408,000 | $26,000 |
| Income Taxes Paid | View | View | View | View | View | View | $491,000 | $25,000 | $224,000 | $3,110,000 | $3,739,000 |
| Cash Interest Expense | View | View | View | View | View | View | $33,242,000 | $34,678,000 | $28,406,000 | $12,594,000 | $12,742,000 |
| Financial Notes: | |
| * | Southern Star Central Corporation fiscal year end: 12/31 |
Charts, Financials, and Statistics (Graphs)
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Southern Star Central Corporation Natural Gas Storage Revenue ($ MM): |
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Southern Star Central Corporation Net Other Increase/(Decrease) in Working Capital ($ MM): |
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Mergers & Acquisitions
| Date | Status | Target | Buyer | Deal Type | Price | |
| Details | Aug. 2012 | Completed | View | View | Acquisition | View |
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