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10-Q Filing

WESTERN MIDSTREAM PARTNERS, LP CIK: 1423902 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001423902-21-000023
Period End Date 20210331
Filing Date 20210510
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance wes-20210331_htm.xml
Filing Contents
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $99.96M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $444.92M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $152.28M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $56.38M USD Point-in-time
Accounts receivable, net AccountsAndOtherReceivablesNetCurrent $452.88M USD Point-in-time
Accounts receivable, net AccountsAndOtherReceivablesNetCurrent $480.70M USD Point-in-time
Other current assets OtherAssetsCurrent $45.26M USD Point-in-time
Other current assets OtherAssetsCurrent $74.08M USD Point-in-time
Total current assets AssetsCurrent $611.16M USD Point-in-time
Total current assets AssetsCurrent $943.06M USD Point-in-time
Cost PropertyPlantAndEquipmentGross $12.64B USD Point-in-time
Cost PropertyPlantAndEquipmentGross $12.69B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $4.05B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $3.93B USD Point-in-time
Net property, plant, and equipment PropertyPlantAndEquipmentNet $8.64B USD Point-in-time
Net property, plant, and equipment PropertyPlantAndEquipmentNet $8.71B USD Point-in-time
Materials and supplies inventory InventoryNonCurrentRawMaterialsAndSuppliesGross $71.90M USD Point-in-time
Materials and supplies inventory InventoryNonCurrentRawMaterialsAndSuppliesGross $68.50M USD Point-in-time
Total assets Assets $11.44B USD Point-in-time
Total assets Assets $11.83B USD Point-in-time
Goodwill Goodwill $4.78M USD Point-in-time
Goodwill Goodwill $4.78M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $776.41M USD Point-in-time
Accounts receivable, net AccountsAndOtherReceivablesNetCurrent $452.88M USD Point-in-time
Accounts receivable, net AccountsAndOtherReceivablesNetCurrent $480.70M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $768.49M USD Point-in-time
Total liabilities Liabilities $8.93B USD Point-in-time
Equity investments EquityMethodInvestments $1.22B USD Point-in-time
Total liabilities Liabilities $8.49B USD Point-in-time
Equity investments EquityMethodInvestments $1.22B USD Point-in-time
Other assets OtherAssetsNoncurrent $195.19M USD Point-in-time
Other assets OtherAssetsNoncurrent $171.01M USD Point-in-time
Total assets Assets $11.44B USD Point-in-time
Total assets Assets $11.83B USD Point-in-time
Accounts and imbalance payables AccountsPayableTradeCurrent $226.72M USD Point-in-time
Accounts and imbalance payables AccountsPayableTradeCurrent $210.69M USD Point-in-time
Short-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $7.75M USD Point-in-time
Short-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $438.87M USD Point-in-time
Accrued ad valorem taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $55.61M USD Point-in-time
Accrued ad valorem taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $41.43M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $200.19M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $269.95M USD Point-in-time
Total current liabilities LiabilitiesCurrent $960.93M USD Point-in-time
Total current liabilities LiabilitiesCurrent $490.26M USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $7.42B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $7.42B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $22.75M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $22.20M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $267.96M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $260.28M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $275.57M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $295.95M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $7.97B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $8.00B USD Point-in-time
Total liabilities Liabilities $8.93B USD Point-in-time
Total liabilities Liabilities $8.49B USD Point-in-time
Common units (413,062,133 and 413,839,863 units issued and outstanding at March 31, 2021, and December 31, 2020, respectively) LimitedPartnersCapitalAccount $2.78B USD Point-in-time
Common units (413,062,133 and 413,839,863 units issued and outstanding at March 31, 2021, and December 31, 2020, respectively) LimitedPartnersCapitalAccount $2.82B USD Point-in-time
General partner units (9,060,641 units issued and outstanding at March 31, 2021, and December 31, 2020) GeneralPartnersCapitalAccount $-16.03M USD Point-in-time
General partner units (9,060,641 units issued and outstanding at March 31, 2021, and December 31, 2020) GeneralPartnersCapitalAccount $-17.21M USD Point-in-time
Total partners' capital PartnersCapital $2.81B USD Point-in-time
Total partners' capital PartnersCapital $2.76B USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $136.70M USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $134.08M USD Point-in-time
Total equity and partners' capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $3.35B USD Point-in-time
Total equity and partners' capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.94B USD Point-in-time
Total equity and partners' capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.79B USD Point-in-time
Total equity and partners' capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.90B USD Point-in-time
Total liabilities, equity, and partners' capital LiabilitiesAndStockholdersEquity $11.44B USD Point-in-time
Total liabilities, equity, and partners' capital LiabilitiesAndStockholdersEquity $11.83B USD Point-in-time
Common units issued LimitedPartnersCapitalAccountUnitsIssued 413.84M shares Point-in-time
Common units issued LimitedPartnersCapitalAccountUnitsIssued 413.06M shares Point-in-time
Common units outstanding LimitedPartnersCapitalAccountUnitsOutstanding 413.06M shares Point-in-time
Common units outstanding LimitedPartnersCapitalAccountUnitsOutstanding 413.84M shares Point-in-time
General partner units issued GeneralPartnersCapitalAccountUnitsIssued 9.06M shares Point-in-time
General partner units issued GeneralPartnersCapitalAccountUnitsIssued 9.06M shares Point-in-time
General partner units outstanding GeneralPartnersCapitalAccountUnitsOutstanding 9.06M shares Point-in-time
General partner units outstanding GeneralPartnersCapitalAccountUnitsOutstanding 9.06M shares Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Total revenues and other Revenues $774.31M USD 1 Quarter
Total revenues and other Revenues $674.97M USD 1 Quarter
Total operating expenses CostsAndExpenses $1.05B USD 1 Quarter
Total operating expenses CostsAndExpenses $434.22M USD 1 Quarter
Revenues and other Revenues $774.31M USD 1 Quarter
Revenues and other Revenues $674.97M USD 1 Quarter
Equity income, net related parties IncomeLossFromEquityMethodInvestments $61.35M USD 1 Quarter
Equity income, net related parties IncomeLossFromEquityMethodInvestments $52.16M USD 1 Quarter
Cost of product CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization $88.97M USD 1 Quarter
Cost of product CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization $103.27M USD 1 Quarter
Operation and maintenance OperatingCostsAndExpenses $159.19M USD 1 Quarter
Operation and maintenance OperatingCostsAndExpenses $140.33M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $45.12M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $40.47M USD 1 Quarter
Property and other taxes TaxesExcludingIncomeAndExciseTaxes $18.48M USD 1 Quarter
Property and other taxes TaxesExcludingIncomeAndExciseTaxes $14.38M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $130.55M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $132.32M USD 1 Quarter
Long-lived asset and other impairments ImpairmentOfLongLivedAssetsHeldForUse $14.87M USD 1 Quarter
Long-lived asset and other impairments ImpairmentOfLongLivedAssetsHeldForUse $155.78M USD 1 Quarter
Goodwill impairment GoodwillImpairmentLoss - USD 1 Quarter
Goodwill impairment GoodwillImpairmentLoss $441.02M USD 1 Quarter
Total operating expenses CostsAndExpenses $1.05B USD 1 Quarter
Total operating expenses CostsAndExpenses $434.22M USD 1 Quarter
Gain (loss) on divestiture and other, net GainLossOnDispositionOfAssetsAndOtherNet $-40.00K USD 1 Quarter
Gain (loss) on divestiture and other, net GainLossOnDispositionOfAssetsAndOtherNet $-583.00K USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $292.34M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-214.90M USD 1 Quarter
Interest income Anadarko note receivable InterestIncomeRelatedParty $4.22M USD 1 Quarter
Interest income Anadarko note receivable InterestIncomeRelatedParty - USD 1 Quarter
Interest expense InterestExpense $88.59M USD 1 Quarter
Interest expense InterestExpense $98.49M USD 1 Quarter
Gain (loss) on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $7.34M USD 1 Quarter
Gain (loss) on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-289.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-1.21M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-1.76M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-293.68M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $192.35M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-4.28M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $1.11M USD 1 Quarter
Net income (loss) ProfitLoss $191.24M USD 1 Quarter
Net income (loss) ProfitLoss $-289.40M USD 1 Quarter
Net income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-32.87M USD 1 Quarter
Net income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.44M USD 1 Quarter
Net income (loss) attributable to Western Midstream Partners, LP NetIncomeLoss $185.79M USD 1 Quarter
Net income (loss) attributable to Western Midstream Partners, LP NetIncomeLoss $-256.53M USD 1 Quarter
Net income (loss) attributable to Western Midstream Partners, LP NetIncomeLoss $185.79M USD 1 Quarter
Net income (loss) attributable to Western Midstream Partners, LP NetIncomeLoss $-256.53M USD 1 Quarter
General partner interest in net (income) loss NetIncomeLossAllocatedToGeneralPartners $3.99M USD 1 Quarter
General partner interest in net (income) loss NetIncomeLossAllocatedToGeneralPartners $-5.13M USD 1 Quarter
Limited partners' interest in net income (loss) NetIncomeLossAllocatedToLimitedPartners $-251.40M USD 1 Quarter
Limited partners' interest in net income (loss) NetIncomeLossAllocatedToLimitedPartners $181.80M USD 1 Quarter
Cash Flow Statement 74 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $191.24M USD 1 Quarter
Net income (loss) ProfitLoss $-289.40M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $130.55M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $132.32M USD 1 Quarter
Long-lived asset and other impairments ImpairmentOfLongLivedAssetsHeldForUse $14.87M USD 1 Quarter
Long-lived asset and other impairments ImpairmentOfLongLivedAssetsHeldForUse $155.78M USD 1 Quarter
Goodwill impairment GoodwillImpairmentLoss - USD 1 Quarter
Goodwill impairment GoodwillImpairmentLoss $441.02M USD 1 Quarter
Non-cash equity-based compensation expense ShareBasedCompensation $5.23M USD 1 Quarter
Non-cash equity-based compensation expense ShareBasedCompensation $6.73M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $557.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-2.17M USD 1 Quarter
Accretion and amortization of long-term obligations, net AccretionandAmortizationofLongTermObligationsNet $2.09M USD 1 Quarter
Accretion and amortization of long-term obligations, net AccretionandAmortizationofLongTermObligationsNet $2.10M USD 1 Quarter
Equity income, net related parties IncomeLossFromEquityMethodInvestments $61.35M USD 1 Quarter
Equity income, net related parties IncomeLossFromEquityMethodInvestments $52.16M USD 1 Quarter
Distributions from equity-investment earnings related parties EquityMethodInvestmentDividendsOrDistributions $49.05M USD 1 Quarter
Distributions from equity-investment earnings related parties EquityMethodInvestmentDividendsOrDistributions $60.87M USD 1 Quarter
(Gain) loss on divestiture and other, net GainLossOnDispositionOfAssetsAndOtherNet $-40.00K USD 1 Quarter
(Gain) loss on divestiture and other, net GainLossOnDispositionOfAssetsAndOtherNet $-583.00K USD 1 Quarter
(Gain) loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $7.34M USD 1 Quarter
(Gain) loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-289.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $11.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $2.29M USD 1 Quarter
(Increase) decrease in accounts receivable, net IncreaseDecreaseInAccountsReceivable $-7.70M USD 1 Quarter
(Increase) decrease in accounts receivable, net IncreaseDecreaseInAccountsReceivable $30.18M USD 1 Quarter
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-28.92M USD 1 Quarter
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-16.47M USD 1 Quarter
Change in other items, net IncreaseDecreaseInOtherOperatingCapitalNet $35.60M USD 1 Quarter
Change in other items, net IncreaseDecreaseInOtherOperatingCapitalNet $24.86M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $393.31M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $261.55M USD 1 Quarter
Capital expenditures PaymentsForCapitalImprovements $172.82M USD 1 Quarter
Capital expenditures PaymentsForCapitalImprovements $59.78M USD 1 Quarter
Contributions to equity investments related parties PaymentsToAcquireBusinessesAndInterestInAffiliates $86.00K USD 1 Quarter
Contributions to equity investments related parties PaymentsToAcquireBusinessesAndInterestInAffiliates $10.96M USD 1 Quarter
Distributions from equity investments in excess of cumulative earnings related parties ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $12.14M USD 1 Quarter
Distributions from equity investments in excess of cumulative earnings related parties ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $5.05M USD 1 Quarter
Decreases to materials and supplies inventory and other PaymentsForProceedsFromOtherInvestingActivities $-3.26M USD 1 Quarter
Decreases to materials and supplies inventory and other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-178.72M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-46.47M USD 1 Quarter
Borrowings, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $3.59B USD 1 Quarter
Borrowings, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $100.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $3.47B USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $531.09M USD 1 Quarter
Increase (decrease) in outstanding checks IncreaseDecreaseInOutstandingChecksFinancingActivities $-7.31M USD 1 Quarter
Increase (decrease) in outstanding checks IncreaseDecreaseInOutstandingChecksFinancingActivities $-22.02M USD 1 Quarter
Distributions to Partnership unitholders PaymentsOfDividends $131.26M USD 1 Quarter
Distributions to Partnership unitholders PaymentsOfDividends $281.79M USD 1 Quarter
Net contributions from (distributions to) related parties ProceedsFromPaymentToAffiliate $1.63M USD 1 Quarter
Net contributions from (distributions to) related parties ProceedsFromPaymentToAffiliate $20.49M USD 1 Quarter
Finance lease payments FinanceLeasePrincipalPayments $2.15M USD 1 Quarter
Finance lease payments FinanceLeasePrincipalPayments $1.82M USD 1 Quarter
Unit repurchases PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Unit repurchases PaymentsForRepurchaseOfCommonStock $16.24M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-162.27M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-603.62M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-388.55M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $52.32M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $99.96M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $444.92M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $152.28M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $56.38M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $99.96M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $444.92M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $152.28M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $56.38M USD Point-in-time
Interest paid, net of capitalized interest InterestPaidNet $153.98M USD 1 Quarter
Interest paid, net of capitalized interest InterestPaidNet $75.84M USD 1 Quarter
Taxes paid (reimbursements received) IncomeTaxesPaidNet $-384.00K USD 1 Quarter
Taxes paid (reimbursements received) IncomeTaxesPaidNet $932.00K USD 1 Quarter
Accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $120.23M USD 1 Quarter
Accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $22.96M USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $3.35B USD Point-in-time
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.94B USD Point-in-time
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.79B USD Point-in-time
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.90B USD Point-in-time
Net income (loss) ProfitLoss $191.24M USD 1 Quarter
Net income (loss) ProfitLoss $-289.40M USD 1 Quarter
Distributions to Partnership unitholders PartnersCapitalAccountDistributions $131.26M USD 1 Quarter
Distributions to Partnership unitholders PartnersCapitalAccountDistributions $281.79M USD 1 Quarter
Unit repurchases PartnersCapitalAccountTreasuryUnitsPurchases $16.24M USD 1 Quarter
Acquisitions from related parties PartnersCapitalAccountAcquisitions - USD 1 Quarter
Equity-based compensation expense StockIssuedDuringPeriodValueShareBasedCompensationGross $3.52M USD 1 Quarter
Equity-based compensation expense StockIssuedDuringPeriodValueShareBasedCompensationGross $1.13M USD 1 Quarter
Net contributions from (distributions to) related parties PartnersCapitalAccountAdjustmentContributionsFromorDistributionsToAffiliate $20.49M USD 1 Quarter
Net contributions from (distributions to) related parties PartnersCapitalAccountAdjustmentContributionsFromorDistributionsToAffiliate $1.63M USD 1 Quarter
Other PartnersCapitalOther $-2.35M USD 1 Quarter
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $3.35B USD Point-in-time
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.94B USD Point-in-time
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.79B USD Point-in-time
Balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $2.90B USD Point-in-time

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

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