Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Information (Unaudited)

v3.6.0.2
Quarterly Financial Information (Unaudited)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information (Unaudited)  
Quarterly Financial Information (Unaudited)

(13) 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, 2015 and 2016 is as follows (in thousands, except per unit data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First

 

Second

 

Third

 

Forth

 

 

    

quarter

    

quarter

    

quarter

    

quarter

 

 

 

(unaudited)

 

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 and Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

$

0.10

 

$

0.13

 

$

0.23

 

$

0.27

 

Subordinated units

 

$

0.10

 

$

0.13

 

$

0.22

 

$

0.27

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues

 

$

136,072

 

$

136,810

 

$

150,475

 

$

166,854

 

Total operating expenses

 

 

89,452

 

 

83,503

 

 

76,192

 

 

82,953

 

Operating income

 

 

46,620

 

 

53,307

 

 

74,283

 

 

83,901

 

Net income

 

 

42,916

 

 

49,912

 

 

70,524

 

 

73,351

 

Less: general partner's interest in net income

 

 

(1,850)

 

 

(2,731)

 

 

(4,806)

 

 

(7,557)

 

Net income attributable to limited partner units

 

$

41,066

 

$

47,181

 

$

65,718

 

$

65,794

 

Net income per limited partner unit:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

$

0.23

 

$

0.27

 

$

0.37

 

$

0.37

 

Subordinated units

 

$

0.23

 

$

0.27

 

$

0.37

 

$

0.37