2.2.0.25falsefalse10201 - Disclosure - Crestwood Transaction and Midstream Operationstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 3/31/2010 USD ($) USD ($) / shares $Duration_1_1_2010_To_3_31_2010http://www.sec.gov/CIK0001060990duration2010-01-01T00:00:002010-03-31T00:00:00Unit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit13Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0kwk_DivestedOperationsNotIncludedInDiscontinuedOperationsAbstractkwkfalsenadurationDivested Operations Not Included In Discontinued Operations [Abstract]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDivested Operations Not Included In Discontinued Operations [Abstract]falsefalseCrestwood Transaction and Midstream Operations3false0kwk_DivestedOperationsNotIncludedInDiscontinuedOperationsDisclosureTextBlockkwkfalsenadurationDivested Operations Not Included In Discontinued Operations Disclosure [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div> <div><font style="font-weight: normal;" class="_mt"> </font> <div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b>2. CRESTWOOD TRANSACTION AND MIDSTREAM OPERATIONS</b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     In October 2010, we completed the sale of all of our interests in KGS to Crestwood.  We received net proceeds of $700 million and recognized a gain of $473.2 million during the fourth quarter of 2010.  Our board of directors approved a plan for disposal of the HCDS, which is included in our midstream segment.  Subsequent to our board of directors' approval, we conducted an impairment analysis of the HCDS and recognized a charge for impairment in the third quarter of 2010.  </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The operating results of these midstream operations, as classified in our statement of income, are summarized below: </div> <div align="center"> <table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="60%"> <tr valign="bottom"><td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"><td style="border-bottom: #000000 1px solid;" colspan="4" nowrap="nowrap" align="left"><b>For the Three Months Ended March 31, 2010</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"><td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"><font style="font-size: 8pt;" class="_mt">(In thousands)</font></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Revenue</div></td> <td> </td> <td align="right">$</td> <td align="right">3,744</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">GPT expense <sup style="font-size: 85%; vertical-align: text-top;">(1)</sup></div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(16,522</td> <td nowrap="nowrap">)</td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Ad valorem taxes</div></td> <td> </td> <td> </td> <td align="right">1,533</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Other operations</div></td> <td> </td> <td> </td> <td align="right">1,274</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">DD&A</div></td> <td> </td> <td> </td> <td align="right">6,126</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">General and administrative expense</div></td> <td> </td> <td> </td> <td align="right">1,128</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Operating results of midstream operations</div></td> <td> </td> <td> </td> <td align="right">10,205</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Interest and other expense</div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,082</td> <td nowrap="nowrap">)</td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Results of midstream operations before income tax</div></td> <td> </td> <td> </td> <td align="right">8,123</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Income tax expense</div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,878</td> <td nowrap="nowrap">)</td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Results of midstream operations, net of income tax</div></td> <td> </td> <td align="right">$</td> <td align="right">5,245</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td></tr></table></div> <div align="left"> <div style="margin-top: 16pt; width: 10%; font-size: 3pt; border-top: #000000 1px solid;"> </div></div> <table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td width="1%"> </td> <td width="94%"> </td></tr> <tr valign="top"><td nowrap="nowrap" align="left"><sup style="font-size: 85%; vertical-align: text-top;">(1)</sup></td> <td> </td> <td>Our KGS operations earned revenue from gathering and processing of our natural gas and NGL production. This revenue was consolidated as a reduction of processing, gathering and transportation expense for purposes of presenting our consolidated statements of income.</td></tr></table> <p style="font-size: 10pt;" align="center">     Details of balance sheet items for these midstream operations are summarized below: </p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div align="center"> <table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="60%"> <tr valign="bottom"><td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"><td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"><b>March 31,</b></td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"><b>December 31,</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"><td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2011</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td><b>Assets:</b></td> <td> </td> <td colspan="7" align="center"><b> </b><font style="font-size: 8pt;" class="_mt">(In thousands)</font><br /></td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Accounts receivable, net</div></td> <td> </td> <td align="right">$ </td> <td align="right">39</td> <td> </td> <td> </td> <td align="right">$ </td> <td align="right">57</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Property, plant and equipment, net</div></td> <td> </td> <td> </td> <td align="right">26,382</td> <td> </td> <td> </td> <td> </td> <td align="right">27,121</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Total</div></td> <td> </td> <td align="right">$ </td> <td align="right">26,421</td> <td> </td> <td> </td> <td align="right">$ </td> <td align="right">27,178</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td> <td> </td> <td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;"><b>Liabilities</b></div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Other non-current liabilities</div></td> <td> </td> <td align="right">$ </td> <td align="right">1,448</td> <td> </td> <td> </td> <td align="right">$ </td> <td align="right">1,431</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Total</div></td> <td> </td> <td align="right">$ </td> <td align="right">1,448</td> <td> </td> <td> </td> <td align="right">$ </td> <td align="right">1,431</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td> <td> </td> <td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td></tr></table></div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     Note 3 to the consolidated financial statements in our 2010 Annual Report on Form 10-K contains additional information regarding the Crestwood Transaction.  </div></div></div></div> </div>2. 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