Quarterly report pursuant to Section 13 or 15(d)

Reportable Segments (Tables)

v3.22.2.2
Reportable Segments (Tables)
9 Months Ended
Sep. 30, 2022
Reportable Segments  
Schedule of operating results and assets of the Company's reportable segments

The summarized operating results of the Company’s reportable segments are as follows:

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

Depreciation

15,151

12,336

27,487

Impairment of property and equipment

203

203

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

Additions to property and equipment

$

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.

Three Months Ended September 30, 2022

Gathering and

Water

Consolidated

(in thousands)

   

Processing

   

Handling

   

Unallocated (1)

  

Total

Revenues:

Revenue–Antero Resources

$

185,640

61,411

247,051

Revenue–third-party

1,651

1,651

Amortization of customer relationships

(9,271)

(8,397)

(17,668)

Total revenues

176,369

54,665

231,034

Operating expenses:

Direct operating

19,813

26,835

46,648

General and administrative

9,890

2,425

1,272

13,587

Facility idling

865

865

Depreciation

21,177

13,029

34,206

Accretion of asset retirement obligations

50

50

Gain on asset sale

(2,056)

(36)

(2,092)

Total operating expenses

48,824

43,168

1,272

93,264

Operating income

$

127,545

11,497

(1,272)

137,770

Equity in earnings of unconsolidated affiliates

$

24,411

24,411

Additions to property and equipment, net

$

58,742

15,378

74,120

(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

Depreciation

44,268

36,688

80,956

Impairment of property and equipment

1,218

364

1,582

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

Additions to property and equipment

$

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.

Nine Months Ended September 30, 2022

Gathering and

Water

Consolidated

(in thousands)

    

Processing

    

Handling

    

Unallocated (1)

Total

Revenues:

Revenue–Antero Resources

$

552,154

176,994

729,148

Revenue–third-party

2,288

2,288

Amortization of customer relationships

(27,814)

(25,190)

(53,004)

Total revenues

524,340

154,092

678,432

Operating expenses:

Direct operating

56,338

75,621

131,959

General and administrative

30,081

13,015

4,501

47,597

Facility idling

3,198

3,198

Depreciation

59,838

38,343

98,181

Impairment of property and equipment

1,130

2,572

3,702

Accretion of asset retirement obligations

178

178

Loss on settlement of asset retirement obligations

539

539

Gain on asset sale

(2,119)

(123)

(2,242)

Total operating expenses

145,268

133,343

4,501

283,112

Operating income

$

379,072

20,749

(4,501)

395,320

Equity in earnings of unconsolidated affiliates

$

70,467

70,467

Additions to property and equipment, net

$

190,407

45,747

236,154

(1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.

The summarized total assets of the Company’s reportable segments are as follows:

(Unaudited)

December 31,

September 30,

(in thousands)

2021

2022

Gathering and Processing

$

4,450,939

4,489,750

Water Handling

1,092,122

1,073,000

Unallocated (1)

940

1,071

Total assets

$

5,544,001

5,563,821

(1) Certain assets that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.