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10-Q Filing

WESTERN MIDSTREAM PARTNERS, LP CIK: 1423902 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001423902-17-000022
Period End Date 20170331
Filing Date 20170503
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance wgp-20170331.xml
Filing Contents
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $122.65M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $99.69M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $359.07M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $111.46M USD Point-in-time
Accounts receivable, net AccountsAndOtherReceivablesNetCurrent $223.02M USD Point-in-time
Accounts receivable, net AccountsAndOtherReceivablesNetCurrent $152.54M USD Point-in-time
Other current assets OtherAssetsCurrent $11.04M USD Point-in-time
Other current assets OtherAssetsCurrent $13.50M USD Point-in-time
Common units issued LimitedPartnersCapitalAccountUnitsIssued 218.93M shares Point-in-time
Total current assets AssetsCurrent $595.59M USD Point-in-time
Common units issued LimitedPartnersCapitalAccountUnitsIssued 218.93M shares Point-in-time
Total current assets AssetsCurrent $286.24M USD Point-in-time
Note receivable - Anadarko NotesReceivableRelatedPartiesNoncurrent $260.00M USD Point-in-time
Common units outstanding LimitedPartnersCapitalAccountUnitsOutstanding 218.93M shares Point-in-time
Common units outstanding LimitedPartnersCapitalAccountUnitsOutstanding 218.93M shares Point-in-time
Note receivable - Anadarko NotesReceivableRelatedPartiesNoncurrent $260.00M USD Point-in-time
Accounts receivable, net AccountsAndOtherReceivablesNetCurrent $223.02M USD Point-in-time
Accounts receivable, net AccountsAndOtherReceivablesNetCurrent $152.54M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $58.08M USD Point-in-time
Cost PropertyPlantAndEquipmentGross $6.86B USD Point-in-time
Cost PropertyPlantAndEquipmentGross $7.24B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $45.19M USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.97B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.81B USD Point-in-time
Net property, plant and equipment PropertyPlantAndEquipmentNet $5.05B USD Point-in-time
Net property, plant and equipment PropertyPlantAndEquipmentNet $5.27B USD Point-in-time
Goodwill Goodwill $417.61M USD Point-in-time
Goodwill Goodwill $417.61M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $803.70M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $796.59M USD Point-in-time
Equity investments EquityMethodInvestments $594.21M USD Point-in-time
Equity investments EquityMethodInvestments $591.10M USD Point-in-time
Other assets OtherAssetsNoncurrent $16.43M USD Point-in-time
Other assets OtherAssetsNoncurrent $15.06M USD Point-in-time
Total assets Assets $7.74B USD Point-in-time
Total assets Assets $7.63B USD Point-in-time
Accounts and imbalance payables AccountsPayableTradeCurrent $247.08M USD Point-in-time
Accounts and imbalance payables AccountsPayableTradeCurrent $186.88M USD Point-in-time
Accrued ad valorem taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $35.19M USD Point-in-time
Accrued ad valorem taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $23.12M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $58.08M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $45.19M USD Point-in-time
Total current liabilities LiabilitiesCurrent $315.39M USD Point-in-time
Total current liabilities LiabilitiesCurrent $280.15M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $3.12B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $3.12B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $6.40M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $9.53M USD Point-in-time
Asset retirement obligations and other AssetRetirementObligationsNoncurrent $142.64M USD Point-in-time
Asset retirement obligations and other AssetRetirementObligationsNoncurrent $145.34M USD Point-in-time
Deferred purchase price obligation - Anadarko BusinessCombinationContingentConsiderationLiabilityNoncurrent $41.44M USD Point-in-time
Deferred purchase price obligation - Anadarko BusinessCombinationContingentConsiderationLiabilityNoncurrent $37.35M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $3.31B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $3.31B USD Point-in-time
Total liabilities Liabilities $3.59B USD Point-in-time
Total liabilities Liabilities $3.63B USD Point-in-time
Common units (218,928,570 units issued and outstanding at March 31, 2017, and December 31, 2016) LimitedPartnersCapitalAccount $1.05B USD Point-in-time
Common units (218,928,570 units issued and outstanding at March 31, 2017, and December 31, 2016) LimitedPartnersCapitalAccount $1.04B USD Point-in-time
Total partners' capital PartnersCapital $1.05B USD Point-in-time
Total partners' capital PartnersCapital $1.04B USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $3.06B USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $3.00B USD Point-in-time
Total equity and partners' capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $4.11B USD Point-in-time
Total equity and partners' capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $4.04B USD Point-in-time
Total liabilities, equity and partners' capital LiabilitiesAndStockholdersEquity $7.74B USD Point-in-time
Total liabilities, equity and partners' capital LiabilitiesAndStockholdersEquity $7.63B USD Point-in-time
Income Statement 53 line items
Line Item Tag Value Unit Period
Cost of product NaturalGasMidstreamCosts $189.36M USD 1 Quarter
Cost of product NaturalGasMidstreamCosts $76.47M USD 1 Quarter
Operation and maintenance OperatingCostsAndExpenses $73.76M USD 1 Quarter
Operation and maintenance OperatingCostsAndExpenses $76.21M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $13.48M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $12.52M USD 1 Quarter
Interest expense InterestExpense $36.03M USD 1 Quarter
Interest expense InterestExpense $32.14M USD 1 Quarter
Total revenues and other Revenues $383.14M USD 1 Quarter
Total revenues and other Revenues $516.19M USD 1 Quarter
Equity income, net affiliates IncomeLossFromEquityMethodInvestments $16.81M USD 1 Quarter
Equity income, net affiliates IncomeLossFromEquityMethodInvestments $19.46M USD 1 Quarter
Cost of product NaturalGasMidstreamCosts $189.36M USD 1 Quarter
Cost of product NaturalGasMidstreamCosts $76.47M USD 1 Quarter
Operation and maintenance OperatingCostsAndExpenses $73.76M USD 1 Quarter
Operation and maintenance OperatingCostsAndExpenses $76.21M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $13.48M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $12.52M USD 1 Quarter
Property and other taxes TaxesExcludingIncomeAndExciseTaxes $10.35M USD 1 Quarter
Property and other taxes TaxesExcludingIncomeAndExciseTaxes $12.29M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $65.09M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $69.70M USD 1 Quarter
Impairments AssetImpairmentCharges $6.52M USD 1 Quarter
Impairments AssetImpairmentCharges $164.74M USD 1 Quarter
Impairments AssetImpairmentCharges $15.50M USD Annual
Total operating expenses CostsAndExpenses $523.33M USD 1 Quarter
Total operating expenses CostsAndExpenses $247.16M USD 1 Quarter
Gain (loss) on divestiture and other, net GainLossOnDispositionOfAssetsAndOtherNet $-632.00K USD 1 Quarter
Gain (loss) on divestiture and other, net GainLossOnDispositionOfAssetsAndOtherNet $119.49M USD 1 Quarter
Proceeds from business interruption insurance claims GainOnBusinessInterruptionInsuranceRecovery - USD 1 Quarter
Proceeds from business interruption insurance claims GainOnBusinessInterruptionInsuranceRecovery $5.77M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $137.57M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $152.16M USD 1 Quarter
Interest income affiliates InterestIncomeRelatedParty $4.22M USD 1 Quarter
Interest income affiliates InterestIncomeRelatedParty $4.22M USD 1 Quarter
Interest expense InterestExpense $36.03M USD 1 Quarter
Interest expense InterestExpense $32.14M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $446.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $141.00K USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $106.21M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $124.39M USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $6.63M USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $3.55M USD 1 Quarter
Net income (loss) ProfitLoss $102.66M USD 1 Quarter
Net income (loss) ProfitLoss $117.76M USD 1 Quarter
Net income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $26.72M USD 1 Quarter
Net income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $35.94M USD 1 Quarter
Net income (loss) attributable to Western Gas Equity Partners, LP NetIncomeLoss $81.82M USD 1 Quarter
Net income (loss) attributable to Western Gas Equity Partners, LP NetIncomeLoss $75.94M USD 1 Quarter
Pre-acquisition net (income) loss allocated to Anadarko PreacquisitionNetIncomeLossAllocatedToParent $11.33M USD 1 Quarter
Pre-acquisition net (income) loss allocated to Anadarko PreacquisitionNetIncomeLossAllocatedToParent - USD 1 Quarter
Limited partners' interest in net income (loss) NetIncomeLossAllocatedToLimitedPartners $70.49M USD 1 Quarter
Limited partners' interest in net income (loss) NetIncomeLossAllocatedToLimitedPartners $75.94M USD 1 Quarter
Cash Flow Statement 71 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $102.66M USD 1 Quarter
Net income (loss) ProfitLoss $117.76M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $65.09M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $69.70M USD 1 Quarter
Impairments AssetImpairmentCharges $6.52M USD 1 Quarter
Impairments AssetImpairmentCharges $164.74M USD 1 Quarter
Impairments AssetImpairmentCharges $15.50M USD Annual
Non-cash equity-based compensation expense ShareBasedCompensation $1.27M USD 1 Quarter
Non-cash equity-based compensation expense ShareBasedCompensation $1.29M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.85M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $3.13M USD 1 Quarter
Accretion and amortization of long-term obligations, net OtherOperatingActivitiesCashFlowStatement $1.27M USD 1 Quarter
Accretion and amortization of long-term obligations, net OtherOperatingActivitiesCashFlowStatement $5.50M USD 1 Quarter
Equity income, net affiliates IncomeLossFromEquityMethodInvestments $16.81M USD 1 Quarter
Equity income, net affiliates IncomeLossFromEquityMethodInvestments $19.46M USD 1 Quarter
Distributions from equity investment earnings affiliates EquityMethodInvestmentDividendsOrDistributions $19.86M USD 1 Quarter
Distributions from equity investment earnings affiliates EquityMethodInvestmentDividendsOrDistributions $19.11M USD 1 Quarter
(Gain) loss on divestiture and other, net GainLossOnDispositionOfAssetsAndOtherNet $-632.00K USD 1 Quarter
(Gain) loss on divestiture and other, net GainLossOnDispositionOfAssetsAndOtherNet $119.49M USD 1 Quarter
Lower of cost or market inventory adjustments InventoryWriteDown - USD 1 Quarter
Lower of cost or market inventory adjustments InventoryWriteDown $45.00K USD 1 Quarter
(Increase) decrease in accounts receivable, net IncreaseDecreaseInAccountsReceivable $-12.51M USD 1 Quarter
(Increase) decrease in accounts receivable, net IncreaseDecreaseInAccountsReceivable $1.53M USD 1 Quarter
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $18.45M USD 1 Quarter
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-29.93M USD 1 Quarter
Change in other items, net IncreaseDecreaseInOtherOperatingCapitalNet $-157.00K USD 1 Quarter
Change in other items, net IncreaseDecreaseInOtherOperatingCapitalNet $-3.24M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $235.88M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $191.67M USD 1 Quarter
Capital expenditures PaymentsForCapitalImprovements $136.99M USD 1 Quarter
Capital expenditures PaymentsForCapitalImprovements $125.94M USD 1 Quarter
Investments in equity affiliates PaymentsToAcquireBusinessesAndInterestInAffiliates $-474.00K USD 1 Quarter
Investments in equity affiliates PaymentsToAcquireBusinessesAndInterestInAffiliates - USD 1 Quarter
Distributions from equity investments in excess of cumulative earnings affiliates ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $3.45M USD 1 Quarter
Distributions from equity investments in excess of cumulative earnings affiliates ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $4.78M USD 1 Quarter
Proceeds from property insurance claims ProceedsFromInsuranceSettlementInvestingActivities $24.00M USD 1 Quarter
Proceeds from property insurance claims ProceedsFromInsuranceSettlementInvestingActivities - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-842.82M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-252.43M USD 1 Quarter
Borrowings, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $-11.00K USD 1 Quarter
Borrowings, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $356.16M USD 1 Quarter
Increase (decrease) in outstanding checks IncreaseDecreaseInOutstandingChecksFinancingActivities $1.02M USD 1 Quarter
Increase (decrease) in outstanding checks IncreaseDecreaseInOutstandingChecksFinancingActivities $-994.00K USD 1 Quarter
Distributions to WGP unitholders PaymentsOfDividends $101.25M USD 1 Quarter
Distributions to WGP unitholders PaymentsOfDividends $88.39M USD 1 Quarter
Net contributions from (distributions to) Anadarko ProceedsFromPaymentForAffiliate $-14.00K USD 1 Quarter
Net contributions from (distributions to) Anadarko ProceedsFromPaymentForAffiliate $-27.63M USD 1 Quarter
Above-market component of swap extensions with Anadarko ProceedsFromAboveMarketComponentOfSwapExtensions $6.81M USD 1 Quarter
Above-market component of swap extensions with Anadarko ProceedsFromAboveMarketComponentOfSwapExtensions $12.30M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-175.66M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $618.70M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $11.76M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-236.42M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $122.65M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $99.69M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $359.07M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $111.46M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $122.65M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $99.69M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $359.07M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $111.46M USD Point-in-time
Net distributions to (contributions from) Anadarko of other assets PartnersCapitalAccountAdjustmentDistributionsToContributionsFromAffiliateOfOtherAssets - USD 1 Quarter
Net distributions to (contributions from) Anadarko of other assets PartnersCapitalAccountAdjustmentDistributionsToContributionsFromAffiliateOfOtherAssets $714.00K USD 1 Quarter
Interest paid, net of capitalized interest InterestPaidNet $29.01M USD 1 Quarter
Interest paid, net of capitalized interest InterestPaidNet $18.22M USD 1 Quarter
Taxes paid (reimbursements received) IncomeTaxesPaidNet $189.00K USD 1 Quarter
Taxes paid (reimbursements received) IncomeTaxesPaidNet $67.00K USD 1 Quarter
Accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $85.28M USD 1 Quarter
Accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $68.15M USD 1 Quarter
Fair value of properties and equipment from non-cash third party transactions FairValueOfAssetsAcquired $548.63M USD 1 Quarter
Fair value of properties and equipment from non-cash third party transactions FairValueOfAssetsAcquired - USD 1 Quarter
Stockholders Equity 16 line items
Line Item Tag Value Unit Period
WES equity transactions, net NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $-182.00K USD 1 Quarter
Combined change in Partners' Capital from WES equity transactions, net and net income (loss) attributable to Western Gas Equity Partners, LP ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangeDueToNetIncomeAttributableToParentAndEffectsOfChangesNet $77.90M USD 1 Quarter
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $4.11B USD Point-in-time
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $4.04B USD Point-in-time
Net income (loss) ProfitLoss $102.66M USD 1 Quarter
Net income (loss) ProfitLoss $117.76M USD 1 Quarter
Above-market component of swap extensions with Anadarko AboveMarketComponentOfSwapExtensions $12.30M USD 1 Quarter
WES equity transactions, net NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $-182.00K USD 1 Quarter
Distributions to WGP unitholders PartnersCapitalAccountDistributions $101.25M USD 1 Quarter
Acquisitions from affiliates PartnersCapitalAccountAcquisitions - USD 1 Quarter
Revision to Deferred purchase price obligation Anadarko PartnersCapitalAccountDeferredPurchasePriceObligationChange $4.17M USD 1 Quarter
Contributions of equity-based compensation to WES by Anadarko ContributionsOfEquityBasedCompensationFromParent $1.12M USD 1 Quarter
Net pre-acquisition contributions from (distributions to) Anadarko PartnersCapitalAccountAdjustmentPreacquisitionContributionsFromDistributionsToAffiliate $-14.00K USD 1 Quarter
Other PartnersCapitalOther $136.00K USD 1 Quarter
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $4.11B USD Point-in-time
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $4.04B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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