Northern Tier Energy LP Other Current Assets Calculation
Technically, the other current assets line may include any asset that will be used up within the next 12 months. However, other current assets never include assets that are listed elsewhere in the current assets section of the balance sheet. For this reason, other current assets are almost never:
Cash
Trade Receivables
Inventory
The assets grouped under other current assets are most commonly:
Prepaid Expenses
Tax Assets
Non-Trade Receivables
Other (too numerous to list)
Some companies can and do choose to report each of these items separately.
Other current assets may be made up largely of Prepaid Expenses - unless these are listed on a separate line of the balance sheet.
Prepaid expenses are exactly what they sound like. If a company pays a $30 million insurance premium on the last day of June that will provide coverage for the entire month of July, the company will record a $30 million prepaid expense to account for the insurance expense it will show in July that it already paid for in June.
Tax assets can be quite complex. It is not common for companies to have both tax assets and tax liabilities. It is important that investors take note of both items when considering future taxes.
Non-Trade receivables are rarely a large item. They include money owed to the company by non-customers. Non-trade receivables can be caused by related party transactions, the sale of a business unit, etc. The notes to the company's financial statements will often provide much more detail on this item if it is truly important.
There are a variety of other current assets like non-trade receivables which are simply too numerous to list. If a company is following correct reporting procedures, it should not lump items that are different from one another and yet individually important to the company together under the line Other Current Assets.
At most companies, other current assets are a small and unimportant part of the total balance sheet.
Northern Tier Energy LP (Northern Tier Energy LP) Business Description
Traded in Other Exchanges
N/A
Address
Northern Tier Energy LP was incorporated on October 21, 2011. Its an independent downstream energy limited partnership with refining, retail and pipeline operations that serves the PADD II region of the United States. The Company operate its assets in two business segments: the refining business and the retail business. Its refining segment consists of an 89,500 barrels per calendar day (96,500 barrels per stream day) refinery located in St. Paul Park, Minnesota. Its refinery's complexity allows to process a variety of light, heavy, sweet and sour crudes into higher value refined products. Its retail segment operated 164 convenience stores under the SuperAmerica brand and also supported 75 franchised convenience stores, which are also operated under the SuperAmerica brand. These convenience stores are located in Minnesota and Wisconsin and sell various grades of gasoline and diesel, tobacco products and immediately consumable items such as beverages, prepared food and a large variety of snacks and prepackaged items. It also own and operate SuperMom's Bakery, which prepares and distributes baked goods and other prepared food items for sale in its company-operated and franchised convenience stores and other third party locations. Crude oil is the principal raw material for the Company and the majority of the crude oil processed is delivered to the refinery through a pipeline that is owned by MPL, a related party. With respect to its wholesale gasoline and distillate sales and marketing, it compete directly with Koch Industries' Flint Hills Resources Refinery in Pine Bend, Minnesota, as well as the other refiners in the PADD II region and, to a lesser extent, U.S. and foreign refiners. Its retail competitors include Holiday and Kwik Trip.
Executives
| David L Lamp |
director, officer: President and CEO |
C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479 |
| Thomas W Hofmann |
director |
FIVE RADNOR CORPORATE CENTER, SUITE 500, RADNOR PA 19087 |
| Scott D Weaver |
director |
C/O WESTERN REFINING, INC., 6500 TROWBRIDGE DRIVE, EL PASO TX 79905 |
| Melissa M Buhrig |
officer: Exec VP, General Counsel & Sec |
C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479 |
| Dan F Smith |
director |
1221 MCKINNEY STREET, SUITE 700, HOUSTON TX 77010 |
| Western Refining, Inc. |
director, 10 percent owner |
539 SOUTH MAIN STREET, FINDLAY OH 45840-3229 |
| Karen Berriman Davis |
officer: Executive VP and CFO |
123 WEST MILLS AVENUE, SUITE 200, EL PASO TX 79901 |
| Scott D Josey |
director |
ONE BRIARLAKE PLAZA, SUITE 2000, 2000 WEST SAM HOUSTON PARKWAY SOUTH, HOUSTON TX 77042 |
| David Bonderman |
other: Former 10% Owner and Director |
301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| James G Coulter |
other: Former 10% Owner and Director |
301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Bernard W Aronson |
director |
|
| Tpg Advisors Vi, Inc. |
other: Former 10% Owner and Director |
301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Tpg Group Holdings (sbs) Advisors, Inc. |
director, 10 percent owner |
C/O TPG GLOBAL, LLC, 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Michael G. Macdougall |
director |
301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Eric Liaw |
director |
C/O TPG GLOBAL, LLC, 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
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