v3.24.0.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue:      
Amortization of customer relationships $ (70,672) $ (70,672) $ (70,672)
Total revenue 1,041,771 919,985 898,202
Operating expenses:      
Direct operating 213,165 180,254 157,120
General and administrative (including $13,529, $19,654 and $31,606 of equity-based compensation in 2021, 2022 and 2023, respectively) 71,068 62,125 63,838
Facility idling 2,459 4,166 3,997
Depreciation 136,059 131,762 108,790
Impairment of property and equipment 146 3,702 5,042
Accretion of asset retirement obligations 177 222 460
Loss on settlement of asset retirement obligations 805 539  
Loss (gain) on asset sale 6,030 (2,251) 3,628
Total operating expenses 429,909 380,519 342,875
Operating income 611,862 539,466 555,327
Other income (expense):      
Interest expense, net (217,245) (189,948) (175,281)
Equity in earnings of unconsolidated affiliates 105,456 94,218 90,451
Loss on early extinguishment of debt     (21,757)
Total other expense (111,789) (95,730) (106,587)
Income before income taxes 500,073 443,736 448,740
Income tax expense (128,287) (117,494) (117,123)
Net income and comprehensive income $ 371,786 $ 326,242 $ 331,617
Net income per share-basic (in dollars per share) $ 0.77 $ 0.68 $ 0.69
Net income per share-diluted (in dollars per share) $ 0.77 $ 0.68 $ 0.69
Weighted average common shares outstanding:      
Basic (in shares) 479,378 478,232 477,270
Diluted (in shares) 482,372 480,300 479,736
Natural Gas, Gathering, Transportation, Marketing and Processing - Affiliate      
Revenue:      
Total operating revenues $ 842,362 $ 743,265 $ 749,737
Natural Gas Water Handling and Treatment - Affiliate      
Revenue:      
Total operating revenues 268,667 244,770 218,621
Natural Gas Water Handling and Treatment      
Revenue:      
Total operating revenues $ 1,414 $ 2,622 $ 516

Source