Segments

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segments

SegmentsIn conjunction with the divestiture of our Stagecoach Gas equity method investment as discussed in Note 5 and the merger with Oasis Midstream as discussed in Note 3, we modified our segments as of December 31, 2021 and, as a result, our financial statements reflect three operating and reporting segments: (i) gathering and processing north operations (includes our Arrow, Jackalope and Oasis Midstream Williston operations); (ii) gathering and processing south operations (includes our Marcellus, Barnett and Oasis Midstream Delaware Basin operations and our Crestwood Permian Basin Holdings LLC equity method investment); and (iii) storage and logistics operations (includes our crude oil, NGL and natural gas storage and logistics operations, and our Tres Holdings and PRBIC equity method investments). Our gathering and processing north and gathering and processing south segments were historically combined into one segment, and our storage and logistics segment was historically separated into a storage and transportation segment and a marketing, supply and logistics segment. The results of our operations described above are now reflected in the new respective segments for all periods presented. Our corporate operations include all general and administrative expenses that are not allocated to our reportable segments.

Below is a description of our operating and reporting segments.

•Gathering and Processing North. Our gathering and processing north operations provide natural gas, crude oil and produced water gathering, compression, treating, processing and disposal services to producers in the Williston Basin and Powder River Basin.

•Gathering and Processing South. Our gathering and processing south operations provide natural gas gathering, compression, treating and processing and produced water gathering and disposal services to producers in the Marcellus, Barnett and Delaware basins.

•Storage and Logistics. Our storage and logistics operations provide NGLs, crude oil and natural gas storage, terminal, marketing and transportation (including rail, truck and pipeline) services to producers, refiners, marketers, utilities and other customers.

Below is a reconciliation of CEQP’s and CMLP’s net loss to EBITDA (in millions):

	CEQP				CMLP
	Three Months Ended				Three Months Ended
	March 31,				March 31,
	2022		2021		2022		2021
Net income (loss)	$	22.2	$	(38.3)	$	20.2	$	(40.4)
Add:
Interest and debt expense, net	36.1		36.0		36.1		36.0
Loss on modification/extinguishment of debt	—		5.5		—		5.5
Benefit for income taxes	—		(0.1)		—		(0.1)
Depreciation, amortization and accretion	74.8		59.2		78.2		62.8
EBITDA	$	133.1	$	62.3	$	134.5	$	63.8

The following tables summarize CEQP’s and CMLP’s reportable segment data for the three months ended March 31, 2022 and 2021 (in millions). Intersegment revenues included in the following tables are accounted for as arms-length transactions that apply our revenue recognition policy described in our 2021 Annual Report on Form 10-K. Included in earnings (loss) from unconsolidated affiliates, net reflected in the tables below was approximately $4.6 million and $129.4 million of our proportionate share of interest expense, depreciation and amortization expense, goodwill impairments and gains (losses) on long-lived assets, net recorded by our equity investments for the three months ended March 31, 2022 and 2021.

Segment EBITDA Information

	Three Months Ended March 31, 2022
	Gathering and Processing North		Gathering and Processing South		Storage and Logistics		Corporate		Total
Crestwood Midstream
Revenues	$	235.2	$	30.7	$	1,317.9	$	—	$	1,583.8
Intersegment revenues	127.4		—		(127.4)		—		—
Costs of product/services sold	205.6		(0.6)		1,159.4		—		1,364.4
Operations and maintenance expense	23.7		6.7		12.0		—		42.4
General and administrative expense	—		—		—		41.7		41.7
Gain (loss) on long-lived assets, net	—		0.2		(4.0)		—		(3.8)
Earnings from unconsolidated affiliates, net	—		2.6		0.4		—		3.0
Crestwood Midstream EBITDA	$	133.3	$	27.4	$	15.5	$	(41.7)	$	134.5
Crestwood Equity
General and administrative expense	—		—		—		1.7		1.7
Other income, net	—		—		—		0.3		0.3
Crestwood Equity EBITDA	$	133.3	$	27.4	$	15.5	$	(43.1)	$	133.1

	Three Months Ended March 31, 2021
	Gathering and Processing North		Gathering and Processing South		Storage and Logistics		Corporate		Total
Crestwood Midstream
Revenues	$	129.8	$	24.6	$	878.3	$	—	$	1,032.7
Intersegment revenues	105.3		—		(105.3)		—		—
Costs of product/services sold	116.2		0.3		697.3		—		813.8
Operations and maintenance expense	15.1		6.3		11.4		—		32.8
General and administrative expense	—		—		—		17.2		17.2
Gain (loss) on long-lived assets, net	(0.2)		(1.3)		0.1		—		(1.4)
Loss from unconsolidated affiliates, net	—		(0.8)		(102.9)		—		(103.7)
Crestwood Midstream EBITDA	$	103.6	$	15.9	$	(38.5)	$	(17.2)	$	63.8
Crestwood Equity
General and administrative expense	—		—		—		1.5		1.5
Crestwood Equity EBITDA	$	103.6	$	15.9	$	(38.5)	$	(18.7)	$	62.3

Other Segment Information

	CEQP				CMLP
	March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021
Total Assets
Gathering and Processing North	$	4,090.1	$	2,408.0	$	4,090.1	$	2,408.0
Gathering and Processing South	1,023.1		886.5		1,150.4		1,017.4
Storage and Logistics	1,097.3		1,125.1		1,097.3		1,125.1
Corporate	29.6		26.1		24.3		20.7
Total Assets	$	6,240.1	$	4,445.7	$	6,362.1	$	4,571.2