Schedule of operating results and assets of the Company's reportable segments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, 2020 |
|
|
|
Gathering and |
|
Water |
|
|
|
Consolidated |
|
(in thousands) |
|
Processing |
|
Handling |
|
Unallocated (1) |
|
Total |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue–Antero Resources |
|
$ |
190,214 |
|
|
61,001 |
|
|
— |
|
|
251,215 |
|
Amortization of customer relationships |
|
|
(9,342) |
|
|
(8,458) |
|
|
— |
|
|
(17,800) |
|
Total revenues |
|
|
180,872 |
|
|
52,543 |
|
|
— |
|
|
233,415 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct operating |
|
|
16,078 |
|
|
21,974 |
|
|
— |
|
|
38,052 |
|
General and administrative |
|
|
8,137 |
|
|
3,100 |
|
|
1,995 |
|
|
13,232 |
|
Facility idling |
|
|
— |
|
|
2,527 |
|
|
— |
|
|
2,527 |
|
Impairment of property and equipment |
|
|
947 |
|
|
— |
|
|
— |
|
|
947 |
|
Depreciation |
|
|
14,900 |
|
|
11,901 |
|
|
— |
|
|
26,801 |
|
Accretion of asset retirement obligations |
|
|
— |
|
|
39 |
|
|
— |
|
|
39 |
|
Total operating expenses |
|
|
40,062 |
|
|
39,541 |
|
|
1,995 |
|
|
81,598 |
|
Operating income |
|
$ |
140,810 |
|
|
13,002 |
|
|
(1,995) |
|
|
151,817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of unconsolidated affiliates |
|
$ |
23,173 |
|
|
— |
|
|
— |
|
|
23,173 |
|
Total assets |
|
$ |
4,383,313 |
|
|
1,146,687 |
|
|
143,504 |
|
|
5,673,504 |
|
Additions to property and equipment |
|
$ |
34,041 |
|
|
7,810 |
|
|
— |
|
|
41,851 |
|
(1) |
Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, 2021 |
|
|
|
Gathering and |
|
Water |
|
|
|
Consolidated |
|
(in thousands) |
|
Processing |
|
Handling |
|
Unallocated (1) |
|
Total |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue–Antero Resources |
|
$ |
188,716 |
|
|
53,511 |
|
|
— |
|
|
242,227 |
|
Revenue–third-party |
|
|
— |
|
|
245 |
|
|
— |
|
|
245 |
|
Amortization of customer relationships |
|
|
(9,271) |
|
|
(8,397) |
|
|
— |
|
|
(17,668) |
|
Total revenues |
|
|
179,445 |
|
|
45,359 |
|
|
— |
|
|
224,804 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct operating |
|
|
16,161 |
|
|
23,338 |
|
|
— |
|
|
39,499 |
|
General and administrative |
|
|
9,076 |
|
|
4,554 |
|
|
1,180 |
|
|
14,810 |
|
Facility idling |
|
|
— |
|
|
870 |
|
|
— |
|
|
870 |
|
Impairment of property and equipment |
|
|
— |
|
|
203 |
|
|
— |
|
|
203 |
|
Depreciation |
|
|
15,151 |
|
|
12,336 |
|
|
— |
|
|
27,487 |
|
Accretion of asset retirement obligations |
|
|
— |
|
|
114 |
|
|
— |
|
|
114 |
|
Total operating expenses |
|
|
40,388 |
|
|
41,415 |
|
|
1,180 |
|
|
82,983 |
|
Operating income |
|
$ |
139,057 |
|
|
3,944 |
|
|
(1,180) |
|
|
141,821 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of unconsolidated affiliates |
|
$ |
24,088 |
|
|
— |
|
|
— |
|
|
24,088 |
|
Total assets |
|
$ |
4,416,828 |
|
|
1,100,884 |
|
|
15,921 |
|
|
5,533,633 |
|
Additions to property and equipment, net |
|
$ |
69,069 |
|
|
13,514 |
|
|
— |
|
|
82,583 |
|
(1) |
Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2020 |
|
|
|
Gathering and |
|
Water |
|
|
|
Consolidated |
|
(in thousands) |
|
Processing |
|
Handling |
|
Unallocated (1) |
|
Total |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue–Antero Resources |
|
$ |
527,334 |
|
|
222,536 |
|
|
— |
|
|
749,870 |
|
Amortization of customer relationships |
|
|
(27,819) |
|
|
(25,192) |
|
|
— |
|
|
(53,011) |
|
Total revenues |
|
|
499,515 |
|
|
197,344 |
|
|
— |
|
|
696,859 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct operating |
|
|
43,528 |
|
|
85,319 |
|
|
— |
|
|
128,847 |
|
General and administrative |
|
|
23,420 |
|
|
9,685 |
|
|
6,086 |
|
|
39,191 |
|
Facility idling |
|
|
— |
|
|
13,680 |
|
|
— |
|
|
13,680 |
|
Impairment of goodwill |
|
|
575,461 |
|
|
— |
|
|
— |
|
|
575,461 |
|
Impairment of property and equipment |
|
|
947 |
|
|
89,083 |
|
|
— |
|
|
90,030 |
|
Depreciation |
|
|
42,356 |
|
|
39,533 |
|
|
— |
|
|
81,889 |
|
Accretion of asset retirement obligations |
|
|
— |
|
|
142 |
|
|
— |
|
|
142 |
|
Loss on asset sale |
|
|
— |
|
|
240 |
|
|
— |
|
|
240 |
|
Total operating expenses |
|
|
685,712 |
|
|
237,682 |
|
|
6,086 |
|
|
929,480 |
|
Operating loss |
|
$ |
(186,197) |
|
|
(40,338) |
|
|
(6,086) |
|
|
(232,621) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of unconsolidated affiliates |
|
$ |
63,197 |
|
|
— |
|
|
— |
|
|
63,197 |
|
Total assets |
|
$ |
4,383,313 |
|
|
1,146,687 |
|
|
143,504 |
|
|
5,673,504 |
|
Additions to property and equipment |
|
$ |
137,978 |
|
|
27,287 |
|
|
— |
|
|
165,265 |
|
(1) |
Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2021 |
|
|
|
Gathering and |
|
Water |
|
|
|
Consolidated |
|
(in thousands) |
|
Processing |
|
Handling |
|
Unallocated (1) |
|
Total |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue–Antero Resources |
|
$ |
566,544 |
|
|
167,832 |
|
|
— |
|
|
734,376 |
|
Revenue–third-party |
|
|
— |
|
|
340 |
|
|
— |
|
|
340 |
|
Amortization of customer relationships |
|
|
(27,813) |
|
|
(25,191) |
|
|
— |
|
|
(53,004) |
|
Total revenues |
|
|
538,731 |
|
|
142,981 |
|
|
— |
|
|
681,712 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct operating |
|
|
50,409 |
|
|
67,959 |
|
|
— |
|
|
118,368 |
|
General and administrative |
|
|
26,459 |
|
|
17,107 |
|
|
3,425 |
|
|
46,991 |
|
Facility idling |
|
|
— |
|
|
3,033 |
|
|
— |
|
|
3,033 |
|
Impairment of property and equipment |
|
|
1,218 |
|
|
364 |
|
|
— |
|
|
1,582 |
|
Depreciation |
|
|
44,268 |
|
|
36,688 |
|
|
— |
|
|
80,956 |
|
Accretion of asset retirement obligations |
|
|
— |
|
|
347 |
|
|
— |
|
|
347 |
|
Loss on asset sale |
|
|
3,628 |
|
|
— |
|
|
— |
|
|
3,628 |
|
Total operating expenses |
|
|
125,982 |
|
|
125,498 |
|
|
3,425 |
|
|
254,905 |
|
Operating income |
|
$ |
412,749 |
|
|
17,483 |
|
|
(3,425) |
|
|
426,807 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of unconsolidated affiliates |
|
$ |
66,347 |
|
|
— |
|
|
— |
|
|
66,347 |
|
Total assets |
|
$ |
4,416,828 |
|
|
1,100,884 |
|
|
15,921 |
|
|
5,533,633 |
|
Additions to property and equipment, net |
|
$ |
120,727 |
|
|
36,221 |
|
|
— |
|
|
156,948 |
|
(1) |
Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. |
|