v3.23.1
Condensed Consolidated Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Amortization of customer relationships $ (17,668) $ (17,668)
Total revenue 259,475 218,491
Operating expenses:    
Direct operating 57,873 42,012
General and administrative (including $2,832 and $6,327 of equity-based compensation in 2022 and 2023, respectively) 17,347 17,931
Facility idling 574 1,148
Depreciation 35,196 28,300
Accretion of asset retirement obligations 44 64
Loss on settlement of asset retirement obligations 341  
Gain on asset sale (245) (118)
Total operating expenses 111,130 89,337
Operating income 148,345 129,154
Other income (expense):    
Interest expense, net (54,624) (44,279)
Equity in earnings of unconsolidated affiliates 24,456 23,232
Total other expense (30,168) (21,047)
Income before income taxes 118,177 108,107
Income tax benefit (31,670) (28,067)
Net income and comprehensive income $ 86,507 $ 80,040
Net income per share-basic (in dollars per share) $ 0.18 $ 0.17
Net income per share-diluted (in dollars per share) $ 0.18 $ 0.17
Weighted average common shares outstanding:    
Basic (in shares) 478,612 477,646
Diluted (in shares) 481,459 480,173
Natural Gas, Gathering, Transportation, Marketing and Processing - Affiliate    
Revenue:    
Total operating revenues $ 199,576 $ 182,443
Natural Gas Water Handling and Treatment - Affiliate    
Revenue:    
Total operating revenues 77,295 53,321
Natural Gas Water Handling and Treatment    
Revenue:    
Total operating revenues $ 272 $ 395

Source