Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Information (Unaudited)

v3.3.1.900
Quarterly Financial Information (Unaudited)
12 Months Ended
Dec. 31, 2014
Quarterly Financial Information (Unaudited)  
Quarterly Financial Information (Unaudited)

(11)  Quarterly Financial Information (Unaudited)

 

The Partnership’s combined consolidated financial statements have been retrospectively recast for all periods presented prior to the fourth quarter of 2015 to include the historical results of Antero Water because the Water Acquisition was between entities under common control. See Note 1 – Business and Organization.

 

Our quarterly financial information for the years ended December 31, 2014 and 2015 is as follows (in thousands, except per unit data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First

 

Second

 

Third

 

Forth

 

 

    

quarter

    

quarter

    

quarter

    

quarter

 

Year ended December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues

 

$

36,532

 

$

57,441

 

$

71,583

 

$

100,718

 

Total operating expenses

 

 

20,965

 

 

33,653

 

 

34,840

 

 

42,758

 

Operating income

 

 

15,567

 

 

23,788

 

 

36,743

 

 

57,960

 

Net income

 

 

15,309

 

 

22,380

 

 

34,288

 

 

55,898

 

Less: Pre-IPO net income attributed to parent

 

 

(15,309)

 

 

(22,380)

 

 

(34,288)

 

 

(26,242)

 

Less: Pre-Water Acquisition net income attributed to parent

 

 

 —

 

 

 —

 

 

 —

 

 

(22,234)

 

Net income attributable to limited partner units

 

$

 —

 

$

 —

 

$

 —

 

$

7,422

 

Net income per limited partner unit:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

$

 —

 

$

 —

 

$

 —

 

$

0.05

 

Subordinated units

 

$

 —

 

$

 —

 

$

 —

 

$

0.05

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

$

 —

 

$

 —

 

$

 —

 

$

0.05

 

Subordinated units

 

$

 —

 

$

 —

 

$

 —

 

$

0.05

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues

 

$

85,834

 

$

88,093

 

$

81,704

 

$

131,693

 

Total operating expenses

 

 

51,923

 

 

51,333

 

 

37,012

 

 

79,793

 

Operating income

 

 

33,911

 

 

36,760

 

 

44,692

 

 

51,900

 

Net income

 

 

32,325

 

 

35,124

 

 

42,648

 

 

49,008

 

Less: Pre-Water Acquisition net income attributed to parent

 

 

(16,678)

 

 

(15,674)

 

 

(7,841)

 

 

 —

 

Less general partner's interest in net income

 

 

 —

 

 

 —

 

 

(295)

 

 

(969)

 

Net income attributable to limited partner units

 

$

15,647

 

$

19,450

 

$

34,512

 

$

48,039

 

Net income per limited partner unit:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

$

0.10

 

$

0.13

 

$

0.23

 

$

0.27

 

Subordinated units

 

$

0.10

 

$

0.13

 

$

0.22

 

$

0.27

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

$

0.10

 

$

0.13

 

$

0.23

 

$

0.27

 

Subordinated units

 

$

0.10

 

$

0.13

 

$

0.22

 

$

0.27