Summit Midstream Partners, LP SMLP Income Statement

Summit midstream partners, lp (SMLP)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Revenues:
Total revenues
104,903	112,247	100,187	99,686	131,408	133,671	127,479	128,183	117,320	126,199	124,945	101,792	135,805	127,083	95,073	89,635	90,571	112,415	115,201	86,854	86,087	137,020	84,784	85,984	79,381	116,696	76,019	71,461	61,984
Amortization of favorable and unfavorable contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	263	250	280
Costs and expenses:
Cost of natural gas and NGLs
8,225	12,636	7,472	11,571	31,759	36,112	26,879	24,384	20,286	20,909	18,177	9,099	9,052	7,281	6,986	6,864	6,290	6,424	6,959	8,574	9,441	30,102	12,842	15,118	14,353	32,820	13,814	13,438	7,965
Operation and maintenance
21,811	23,416	26,231	23,718	24,222	23,426	24,382	24,466	24,604	23,871	22,303	24,016	23,692	23,023	23,059	23,410	25,842	23,940	24,660	23,595	22,791	28,400	21,840	22,797	21,832	23,069	19,156	18,371	17,579
General and administrative
16,378	16,695	9,949	10,214	17,281	13,268	11,740	13,484	14,385	14,311	13,289	12,949	14,132	14,287	12,368	12,876	12,879	11,048	10,829	11,632	11,599	15,155	9,414	9,659	9,053	14,235	7,508	8,406	6,567
Depreciation and amortization
29,629	28,273	27,406	26,800	27,727	26,896	26,743	26,784	26,677	29,291	28,927	28,688	28,569	28,569	27,979	27,963	27,728	27,172	26,396	26,019	25,530	26,860	22,204	21,435	20,379	22,032	18,487	16,801	13,912
Transaction costs
11	709	129	0	950	-57	0	0	57	-46	0	119	0	25	0	122	1,174	88	322	822	110	2,310	62	76	537	220	148	2,435	38
Environmental remediation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,000	-	-	-	-	-	-	-	-	-	-
Loss (gain) on asset sales, net
-115	-59	347	287	961	-6	-6	-62	74	3	-460	-67	-3	-69	-13	-74	63	-42	0	214	0	-	0	-6	-	-	-	-	-
Long-lived asset impairment
3,821	15,486	0	70	44,951	5,059	1,540	587	0	187,125	1,290	3	284	23	1,172	569	0	-	7,696	0	-	-	0	-	-	-	-	-	-
Goodwill impairment
-	-	16,211	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total costs and expenses
79,990	97,274	87,051	72,086	145,929	104,710	91,290	89,767	85,935	275,458	84,446	74,941	75,732	73,277	71,577	71,878	73,850	320,974	96,862	70,428	69,471	167,967	66,362	69,091	66,154	92,489	59,113	59,451	46,061
Other (expense) income
-428	147	12	83	209	-247	58	27	-7	84	79	64	71	24	51	19	22	0	1	0	1	1,186	1	1	1	115	-112	1	1
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-
Interest expense
20,218	19,626	19,335	17,941	17,527	15,714	14,862	14,837	15,122	16,248	17,614	17,553	16,716	16,160	15,733	16,035	15,882	14,229	14,360	15,599	14,904	20,081	10,558	10,803	7,144	9,475	6,937	3,023	1,879
Early extinguishment of debt
-	-	-	-	-	-	-	-	-	-19	0	0	-22,020	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred Purchase Price Obligation expense
2,297	-13,881	3,760	3,712	4,427	-32,784	-37,204	69,305	21,658	-145,648	-70,499	-5,058	20,883	24,738	6,188	17,465	7,463	0	0	0	0	-	-	-	-	-	-	-	-
Income (loss) before income taxes and income (loss) from equity method investees
1,970	9,375	-9,947	6,030	-36,266	45,784	58,589	-45,699	-5,402	-19,794	93,463	14,420	525	12,932	1,626	-15,724	-6,602	-222,788	3,980	827	1,713	-49,842	7,865	6,091	6,084	14,847	9,857	8,988	14,045
Income tax benefit (expense)
-28	-196	21	1,142	207	-55	-35	294	-171	-76	176	-211	452	-66	-142	360	-77	-969	199	-263	430	198	28	469	159	150	177	221	181
Income (loss) from equity method investees
3,311	-336,654	-677	-79	-441	-7,185	-1,169	-3,920	1,386	1,468	350	-3,385	-656	997	270	-34,471	2,860	931	-240	-3,486	-3,768	-	-	-	-	-	-	-	-
Net income (loss)
5,309	-327,083	-10,645	4,809	-36,914	38,654	57,455	-49,913	-3,845	-18,250	93,637	11,246	-583	13,995	2,038	-50,555	-3,665	-220,888	3,541	-2,396	-2,485	-66,752	7,837	5,622	5,925	14,697	9,680	8,767	13,864
Net income attributable to Summit Investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-5,490	0	0	2,745	59,612	-20,063	-5,381	-4,152	-29,066	1,724	1,586	2,380	-1,648	2,989	699	1,384
Net income attributable to noncontrolling interest
-	-	0	0	-	0	25	58	85	81	91	89	102	94	116	-268	44	0	0	0	0	-	-	-	-	-	-	-	-
Net (loss) income attributable to SMLP
-	-	-10,645	4,809	-	38,654	57,430	-49,971	-3,930	-18,331	93,546	11,157	-685	13,901	1,922	-50,287	-6,454	-220,468	23,604	2,985	1,667	-37,686	6,113	4,036	3,545	16,345	6,691	8,068	12,480
Net income attributable to General Partner, including IDRs
0	0	0	0	-12	-2,907	-3,279	-1,140	-2,058	-1,760	-3,999	-2,351	-2,092	-6,653	2,137	-935	-1,810	-9,265	2,408	1,891	1,568	-5,561	1,204	801	431	490	134	161	250
Net income (loss) attributable to limited partners
5,309	-327,083	-10,645	4,809	-36,926	35,747	54,151	-51,111	-5,988	-20,091	89,547	8,806	-2,777	11,522	-215	-51,222	-8,264	-217,999	21,196	1,094	99	-38,375	4,909	3,235	3,114	15,855	6,557	7,907	12,230
Loss per limited partner unit:
Weighted-average limited partner units outstanding:
Cash distributions declared per common unit (in dollars per unit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.52	0.50	0.48	-	0.43	0.42	0.41
Earnings per common unit basic (in dollars per unit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.25
Earnings per common unit diluted (in dollars per unit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.25
Earnings per subordinated unit basic and diluted (in dollars per unit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.25
Weighted-average common units outstanding basic (in units)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,412
Weighted-average common units outstanding diluted (in units)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,455
Weighted-average subordinated units outstanding basic and diluted (in units)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,409
Gathering Services and Related Fees
Total revenues
83,792	83,708	80,968	75,107	86,964	84,243	86,427	89,585	84,361	95,543	96,070	84,801	118,013	111,378	80,296	76,187	78,100	98,051	101,574	69,754	68,440	105,119	56,598	55,858	49,903	68,271	54,195	47,914	45,972
Natural Gas, NGLs and Condensate Sales
Total revenues
13,780	18,556	12,219	18,291	37,928	42,809	34,017	31,891	26,117	23,804	22,940	10,595	11,120	10,086	9,578	8,581	7,588	8,789	8,710	11,967	12,613	20,117	23,970	26,703	26,304	26,009	22,087	23,797	16,292
Other Revenues
Total revenues
7,331	9,983	7,000	6,288	6,516	6,619	7,035	6,707	6,842	6,852	5,935	6,396	6,672	5,619	5,199	4,867	4,883	5,575	4,917	5,133	5,034	11,784	4,216	3,423	3,174	-	-	-	-
Series A Preferred Units
Net income (loss) attributable to limited partners
7,125	7,125	7,125	7,125	7,125	7,125	7,125	7,125	7,125	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common units
Net income (loss) attributable to limited partners
-2,761	-334,266	-17,770	-2,316	-44,051	28,622	47,026	-58,236	-13,113	-	89,547	8,806	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (in dollars per share)
-0.03	-4.02	-0.21	-0.03	-0.58	0.39	0.64	-0.79	-0.18	-	1.23	0.12	-	-	-	-0.77	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (in dollars per share)
-0.03	-4.02	-0.21	-0.03	-0.58	0.39	0.64	-0.79	-0.18	-	1.22	0.12	-	-	-	-0.77	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (shares)
93,675	88,249	82,718	82,700	75,793	73,370	73,356	73,356	73,134	-	73,059	72,532	-	-	-	66,587	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (shares)
93,675	88,249	82,718	82,700	75,793	74,214	73,756	73,356	73,134	-	73,433	72,842	-	-	-	66,587	-	-	-	-	-	-	-	-	-	-	-	-	-