WESTERN MIDSTREAM PARTNERS, LP WGP Income Statement

Western midstream partners, lp (WGP)

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
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	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
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of product
-	-	-	478,887	-	-	-	706,031	813,652	-	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	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	0	0	0
General and administrative
132,212	114,591	103,387	88,640	74,210	67,195	63,802	60,702	56,302	53,949	50,329	49,519	50,209	49,248	47,959	46,731	45,027	44,428	46,567	44,799	43,818	41,777	41,571	40,417	39,424	38,478	89,205	96,282	98,383	99,728	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	42,481	41,936	42,105	40,161	38,494	36,878	34,397	33,327	35,526	33,265	30,969	28,923	29,066	28,922	27,692	26,243	23,210	21,889	20,636	19,688	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	0	0	0
Long-lived asset impairments
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill impairment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairments
-	-	79,608	104,403	-	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	-	-	-	-	-	-	-	-
Total operating expenses
2,391,109	1,750,943	1,789,866	1,723,049	1,738,982	1,635,157	1,729,267	1,762,235	1,688,526	1,905,327	1,667,077	1,562,301	1,456,256	1,180,081	1,360,375	1,353,623	1,394,935	1,726,165	1,540,047	1,477,873	1,412,432	1,039,723	1,058,858	1,003,465	939,804	901,101	765,697	750,620	725,730	716,209	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	875,070	796,208	888,990	801,698	703,732	721,598	689,945	704,535	405,825	434,946	429,515	154,182	465,583	372,596	323,492	551,481	459,009	415,840	363,970	321,907	227,715	199,504	189,846	194,309	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	0	0	0
Interest expense
325,996	303,286	278,574	248,919	211,692	183,831	163,202	150,450	144,502	142,520	148,206	143,390	120,522	116,628	108,404	108,876	123,051	113,874	103,405	92,510	85,770	76,769	70,017	62,157	53,947	51,797	49,425	47,384	44,290	42,060	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	3,104	2,760	1,755	1,384	1,304	1,158	850	545	-564	-633	-517	-578	345	367	522	938	1,098	1,446	1,704	1,935	2,265	2,321	561	292	0	0	0
Income (loss) before income taxes
305,421	821,172	731,597	818,630	719,765	689,588	731,872	665,418	763,143	677,462	573,730	596,266	587,173	605,352	313,757	342,337	322,847	56,630	379,423	297,353	255,144	492,550	406,990	372,029	328,627	288,945	197,455	171,341	163,017	169,441	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	8,273	4,355	1,885	4,266	9,286	23,479	36,355	48,884	0	0	0
Net income (loss)
306,321	807,700	696,177	769,514	661,623	630,654	760,507	708,548	815,734	737,385	567,884	590,458	581,882	596,980	297,954	314,362	282,952	11,098	311,401	238,084	205,598	453,489	398,717	367,674	326,742	284,679	188,169	147,862	126,662	120,557	0	0	0
Net income (loss) attributable to noncontrolling interest
-15,733	110,459	118,203	161,400	122,919	79,083	113,735	116,931	219,357	196,595	207,102	234,481	241,986	251,208	50,869	49,455	19,257	-154,409	21,867	-8,665	-12,889	165,468	168,569	159,516	143,446	122,173	70,485	55,311	49,968	59,181	0	0	0
Net income (loss) attributable to Western Midstream Operating, LP
322,054	697,241	577,974	608,114	538,704	551,571	646,772	591,617	596,377	540,790	360,782	355,977	339,896	345,772	247,085	264,907	263,695	165,507	289,534	246,749	218,487	288,021	230,148	208,158	183,296	162,506	117,684	92,551	76,694	61,376	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	13,388	5,958	0	-	0	0	-	-	-	-	-
Net (income) loss allocated
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Limited partners' interest in net income (loss)
321,385	662,325	473,562	459,819	357,968	369,429	0	0	0	-	-	-	-	334,446	219,979	217,953	198,022	86,121	174,056	144,637	130,959	222,867	214,504	198,890	179,111	155,528	0	0	0	-	-	-	-
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
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of product
-	-	-	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
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill impairment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairments
-	-	79,592	104,387	-	230,584	0	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	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of product
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of product
-	-	-	245,240	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operation and maintenance
140,690	146,990	147,245	137,580	132,088	115,948	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
104,446	101,485	85,587	70,508	55,878	49,672	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
521,638	503,246	474,308	428,200	377,854	334,155	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
180	1,970	4,637	6,613	8,002	6,746	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	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
325,816	301,316	273,937	242,306	203,690	177,085	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Units [Member]
Net income (loss)
-	-	473,562	459,819	-	369,429	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-