WESTERN MIDSTREAM OPERATING, LP WES Income Statement

Western midstream operating, lp (WES)

Income statement / TTM

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	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Revenues and Other
Revenues and other
2,848,604	2,746,174	2,715,590	2,637,463	2,470,487	2,299,658	2,420,308	2,407,103	2,414,475	2,429,614	2,127,158	2,034,108	1,937,322	1,804,270	1,710,008	1,660,878	1,698,207	1,752,072	1,852,740	1,777,746	1,669,134	1,533,377	1,465,541	1,381,522	1,275,543	1,200,060	965,426	926,658	895,566	894,476	929,796	912,608	901,978	858,144	894,372	799,877	715,180	663,274	0	0	0
Equity income, net – related parties
240,873	237,518	237,078	237,400	223,232	195,469	186,307	153,611	125,909	115,141	84,624	83,399	81,364	78,717	68,915	70,597	69,845	71,251	75,651	72,738	66,805	57,836	52,326	37,783	28,231	22,948	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Operating expenses
Cost of product
433,454	444,247	459,236	462,471	435,250	415,505	612,942	751,130	858,751	953,792	799,094	705,514	607,086	494,194	441,000	423,061	465,428	528,369	541,781	527,294	502,396	458,379	438,493	418,792	389,934	377,626	351,419	347,010	336,006	336,079	341,325	341,884	343,344	327,371	369,318	317,096	271,686	246,476	0	0	0
Operation and maintenance
657,581	641,219	610,067	562,537	526,895	480,861	454,799	405,293	368,652	345,617	311,313	306,532	305,557	308,010	315,369	329,336	332,000	331,972	352,431	331,198	318,801	293,710	298,829	274,097	250,326	235,971	157,967	150,703	144,724	140,106	141,909	138,189	131,724	126,464	127,226	115,377	108,357	103,887	0	0	0
General and administrative
132,212	114,591	103,387	88,640	74,210	67,195	65,995	62,131	57,119	53,949	47,451	46,675	46,973	45,591	44,229	42,990	41,515	41,319	43,505	41,701	40,738	38,561	38,226	37,163	36,006	34,766	85,817	93,580	96,602	99,212	51,557	45,115	42,976	40,564	37,107	34,480	31,764	29,970	0	0	0
Property and other taxes
63,543	61,352	56,200	54,065	53,533	51,848	59,210	57,279	55,453	53,147	42,480	41,935	42,089	40,145	38,478	36,850	34,358	33,288	35,454	33,205	30,935	28,889	29,066	28,922	27,692	26,243	23,210	21,889	20,636	19,688	18,275	17,576	17,095	16,579	16,697	15,678	14,975	14,273	0	0	0
Depreciation and amortization
501,628	483,255	481,384	450,949	418,320	389,164	373,256	348,316	333,859	318,771	289,559	284,266	277,540	272,933	267,361	267,482	268,731	272,611	284,469	263,481	239,889	211,809	198,548	189,784	181,318	172,863	143,896	134,736	125,981	120,608	117,983	118,463	116,557	113,133	114,886	105,275	97,053	91,129	0	0	0
Long-lived asset impairments
161,710	6,300	79,608	104,403	230,790	230,600	165,307	139,564	15,558	180,100	174,301	174,534	173,759	15,535	250,192	250,135	249,352	515,458	279,273	277,836	276,559	5,125	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill impairment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
2,391,109	1,750,943	1,789,866	1,723,049	1,738,982	1,635,157	1,731,460	1,763,664	1,689,343	1,905,327	1,664,198	1,559,456	1,453,004	1,176,408	1,356,629	1,349,854	1,391,384	1,723,017	1,536,913	1,474,715	1,409,318	1,036,473	1,055,513	1,000,211	936,386	897,389	762,309	747,918	723,949	715,693	671,049	661,227	651,696	624,111	665,234	587,906	523,835	485,735	0	0	0
Gain (loss) on divestiture and other, net
-856	-1,406	-442	-625	606	1,312	-2,278	-2,271	13,017	132,388	129,145	122,843	105,478	-14,641	-28,993	54,491	56,398	57,024	77,248	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from business interruption insurance claims
-	-	-	-	-	-	-	-	-	29,882	29,882	43,549	22,037	16,270	16,270	2,603	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income (loss)
697,512	1,231,343	1,162,360	1,151,189	955,343	861,282	872,877	794,779	888,173	801,698	706,611	724,443	693,197	708,208	409,571	438,715	433,066	157,330	468,717	375,754	326,606	554,731	462,354	419,094	367,388	325,619	231,103	202,206	191,627	194,825	270,008	262,642	261,543	245,294	229,138	211,971	191,345	177,539	0	0	0
Interest income – related parties
16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	16,900	17,789	22,137	23,661	24,106	26,548	22,200	20,683	20,243	0	0	0
Interest expense
325,996	303,286	278,574	248,919	211,692	183,831	164,855	151,530	145,031	142,520	146,028	141,252	118,389	114,921	107,222	108,227	122,948	113,872	103,400	92,505	85,765	76,766	70,017	62,157	53,947	51,797	49,425	47,384	44,290	42,060	38,725	36,678	33,815	30,345	26,598	24,476	21,377	18,794	0	0	0
Gain (loss) on early extinguishment of debt
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (expense), net
-90,340	-123,785	-169,089	-100,540	-40,786	-4,763	3,164	2,795	1,771	1,384	1,224	1,091	785	479	-622	-690	-566	-619	303	315	458	864	1,013	1,355	1,640	1,837	2,191	2,274	508	292	564	300	-1,738	-44	878	682	1,594	-538	0	0	0
Income (loss) before income taxes
305,421	821,172	731,597	818,630	719,765	689,588	728,086	662,944	761,813	677,462	578,707	601,182	592,493	610,666	318,627	346,698	326,452	59,739	382,520	300,464	258,199	495,729	410,250	375,192	331,981	292,559	200,769	173,996	164,745	169,957	249,636	248,401	249,651	239,011	229,966	210,377	192,245	178,450	0	0	0
Income tax expense (benefit)
-900	13,472	35,420	49,116	58,142	58,934	-28,635	-43,130	-52,591	-59,923	5,846	5,808	5,291	8,372	15,803	27,975	39,895	45,532	68,022	59,269	49,546	39,061	8,322	4,404	1,934	4,315	10,294	15,401	20,427	20,690	31,174	30,762	31,747	32,150	27,045	23,438	20,793	21,517	0	0	0
Net income (loss)
306,321	807,700	696,177	769,514	661,623	630,654	756,721	706,074	814,404	737,385	572,861	595,374	587,202	602,294	302,824	318,723	286,557	14,207	314,498	241,195	208,653	456,668	401,928	370,788	330,047	288,244	190,475	158,595	144,318	149,267	218,462	217,639	217,904	206,861	202,921	186,939	171,452	156,933	0	0	0
Net income (loss) attributable to noncontrolling interest
-15,733	110,459	118,203	161,400	122,919	79,083	251,709	208,913	243,976	196,595	11,011	9,284	10,042	10,963	10,378	9,886	9,898	10,101	11,250	12,925	13,559	14,025	14,354	13,867	12,277	10,816	10,401	10,448	12,878	14,890	16,394	16,844	15,392	14,103	12,864	11,532	12,065	11,005	0	0	0
Net income (loss) attributable to Western Midstream Operating, LP
322,054	697,241	577,974	608,114	538,704	551,571	505,012	497,161	570,428	540,790	561,850	586,090	577,160	591,331	292,446	308,837	276,659	4,106	303,248	228,270	195,094	442,643	387,574	356,921	317,770	277,428	180,074	148,147	131,440	134,377	202,068	200,795	202,512	192,758	190,057	175,407	159,387	145,928	0	0	0
Limited partners' interest in net income (loss):
Net income (loss) attributable to Western Midstream Operating, LP
322,054	697,241	560,828	539,795	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pre-acquisition net (income) loss allocated to Anadarko
163	29,279	104,412	148,295	180,736	182,142	0	0	0	-	-	-	-	11,326	27,106	46,954	65,673	79,386	115,478	102,112	87,528	65,154	15,595	9,219	4,136	6,929	12,425	19,381	27,361	27,391	43,684	45,119	49,174	52,599	49,182	39,896	34,404	31,797	0	0	0
General partner interest in net (income) loss
-	-	-	-	-	-	-	-	-	0	285,132	267,307	249,323	236,561	221,913	211,629	199,219	180,996	170,456	151,247	133,323	120,980	105,839	93,474	81,581	69,633	57,314	46,663	36,636	28,089	21,423	15,775	11,490	8,599	6,861	5,355	4,032	3,067	0	0	0
Limited partners' interest in net income (loss)
321,385	662,325	473,562	459,819	357,968	369,429	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	266,140	254,228	232,053	200,866	168,362	0	0	-	0	-	-	131,560	134,014	130,156	120,951	111,064	0	0	0
Net income (loss) per common unit basic
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.42	0.60	0.57	0.54	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) per common unit diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.41	0.60	0.57	0.54	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) per common unit - basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.54	0.55	0.31	-	0.79	0.46	-1.61	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average common units outstanding - basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	90,690	-	-	-	-	-	-	-	-
WES Operating [Member]
Revenues and other
2,848,604	2,746,174	2,715,590	2,637,463	2,470,487	2,299,658	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity income, net – related parties
240,873	237,518	237,078	237,400	223,232	195,469	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of product
433,454	444,247	459,236	462,471	435,250	415,505	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operation and maintenance
657,581	641,219	610,067	562,537	526,895	480,861	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
126,270	107,772	95,670	81,929	68,729	63,166	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and other taxes
63,543	61,352	56,200	54,065	53,533	51,848	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
501,628	483,255	481,384	450,949	418,320	389,164	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-lived asset impairments
161,674	6,279	79,592	104,387	230,774	230,584	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill impairment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
2,385,167	1,744,124	1,782,149	1,716,338	1,733,501	1,631,128	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on divestiture and other, net
-856	-1,406	-442	-625	606	1,312	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income (loss)
703,454	1,238,162	1,170,077	1,157,900	960,824	865,311	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income – related parties
16,900	16,900	16,900	16,900	16,900	16,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
325,996	303,041	277,990	248,010	210,475	181,796	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on early extinguishment of debt
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (expense), net
-90,363	-123,864	-169,212	-100,712	-41,001	-4,955	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before income taxes
311,340	828,157	739,775	826,078	726,248	695,460	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense (benefit)
-900	13,472	35,420	49,116	58,142	58,934	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss)
312,240	814,685	704,355	776,962	668,106	636,526	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) attributable to noncontrolling interest
-22,424	7,095	7,141	6,634	7,478	8,609	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) attributable to Western Midstream Operating, LP
334,664	807,590	697,214	770,328	660,628	627,917	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) attributable to Western Midstream Operating, LP
334,664	807,590	711,552	651,449	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pre-acquisition net (income) loss allocated to Anadarko
163	29,279	104,412	148,295	180,736	182,142	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General partner interest in net (income) loss
-	-	90,372	178,923	-	346,538	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Affiliates [Member]
Revenues and other
1,711,344	1,607,396	1,591,074	1,542,612	1,446,972	1,353,711	1,481,521	1,482,357	1,509,126	1,539,105	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Product sales
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of product
276,502	254,771	241,476	220,112	189,888	168,535	126,585	109,785	93,391	74,560	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operation and maintenance
140,690	146,990	147,245	137,580	132,088	115,948	108,209	96,525	88,161	82,249	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
104,446	101,485	85,587	70,508	55,878	49,672	51,776	49,271	46,374	43,221	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
521,638	503,246	474,308	428,200	377,854	334,155	286,570	255,581	227,926	200,030	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
180	1,970	4,637	6,613	8,002	6,746	4,174	2,139	730	224	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Third Parties [Member]
Revenues and other
1,137,260	1,138,778	1,124,516	1,094,851	1,023,515	945,947	938,787	924,746	905,349	890,509	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Product sales
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
325,816	301,316	273,937	242,306	203,690	177,085	160,681	149,391	144,301	142,296	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Units [Member]
Net income (loss)
-	-	473,562	459,819	-	369,429	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Limited partners’ interest in net income (loss)
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) per common unit – basic and diluted
-	-	-	-	-	-	-	-	-	-	0.38	0.49	0.01	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Series A Preferred Units [Member]
Limited partners’ interest in net income (loss)
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common and Class C Units [Member]
Limited partners’ interest in net income (loss)
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-