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v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Amortization of customer relationships $ (17,606) $ (8,534) $ (35,211) $ (10,315)
Total revenue 219,736 255,618 463,444 309,726
Operating expenses:        
Direct operating 42,067 63,998 90,795 78,980
General and administrative (including $21,543 and $2,697 of equity-based compensation in 2019 and 2020, respectively) 12,422 34,622 25,959 54,431
Facility idling 2,475   11,153  
Impairment of goodwill     575,461  
Impairment of property and equipment   594 89,083 594
Depreciation 27,745 36,447 55,088 44,097
Accretion and change in fair value of contingent acquisition consideration   2,297   3,346
Accretion of asset retirement obligations 61 69 103 79
Loss on asset sale 240   240  
Total operating expenses 85,010 138,027 847,882 181,527
Operating income (loss) 134,726 117,591 (384,438) 128,199
Interest expense, net (35,311) (31,521) (72,942) (37,738)
Equity in earnings of unconsolidated affiliates 20,947 13,623 40,024 16,503
Income (loss) before income taxes 120,362 99,693 (417,356) 106,964
Provision for income tax benefit (expense) (31,921) (30,419) 112,864 (28,042)
Net income (loss) and comprehensive income (loss) $ 88,441 $ 69,274 $ (304,492) $ 78,922
Net income (loss) per share-basic and diluted     $ (0.63) $ 0.21
Net income per share-basic (in dollars per share) $ 0.19 $ 0.14 (0.63) 0.21
Net income (loss) per share-diluted (in dollars per share) $ 0.18 $ 0.14 $ (0.63) $ 0.21
Weighted average common shares outstanding:        
Basic 476,836 506,816 479,969 381,045
Diluted 478,837 507,767 479,969 382,026
Natural Gas, Gathering, Transportation, Marketing and Processing - Affiliate        
Revenue:        
Revenue $ 173,991 $ 168,925 $ 337,120 $ 202,459
Natural Gas Water Handling and Treatment - Affiliate        
Revenue:        
Revenue $ 63,351 95,181 $ 161,535 117,532
Natural Gas Water Handling and Treatment        
Revenue:        
Revenue   $ (46)   $ 50

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