Segments (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting, Other Significant Reconciling Item [Line Items]

Reconciliation of Net Income (Loss) to Earnings Before Interest, Taxes, Depreciation and Amortization

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

	CEQP								CMLP
	Three Months Ended				Six Months Ended				Three Months Ended				Six Months Ended
	June 30,				June 30,				June 30,				June 30,
	2022		2021		2022		2021		2022		2021		2022		2021
Net income (loss)	$	39.4	$	(38.1)	$	61.6	$	(76.4)	$	(14.6)	$	(38.5)	$	5.6	$	(78.9)
Add:
Interest and debt expense, net	40.1		35.1		76.2		71.1		40.1		35.1		76.2		71.1
Loss on modification/extinguishment of debt	—		1.2		—		6.7		—		1.2		—		6.7
Provision for income taxes	0.3		0.1		0.3		—		0.2		0.1		0.2		—
Depreciation, amortization and accretion	80.6		58.8		155.4		118.0		83.0		62.2		161.2		125.0
EBITDA	$	160.4	$	57.1	$	293.5	$	119.4	$	108.7	$	60.1	$	243.2	$	123.9

Summary Of Segment Information

The following tables summarize CEQP’s and CMLP’s reportable segment data for the three and six months ended June 30, 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 $4.9 million and $48.1 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 June 30, 2022 and 2021 and $9.5 million and $177.5 million for the six months ended June 30, 2022 and 2021.

Segment EBITDA Information

	Three Months Ended June 30, 2022
	Gathering and Processing North		Gathering and Processing South		Storage and Logistics		Corporate		Total
Crestwood Midstream
Revenues	$	279.4	$	35.3	$	1,133.3	$	—	$	1,448.0
Intersegment revenues	151.6		—		(151.6)		—		—
Costs of product/services sold	250.8		0.6		961.8		—		1,213.2
Operations and maintenance expense	27.5		7.6		11.5		—		46.6
General and administrative expense	—		—		—		25.0		25.0
Loss on long-lived assets, net	—		(60.4)		(0.1)		—		(60.5)
Earnings from unconsolidated affiliates, net	—		4.8		1.2		—		6.0
Crestwood Midstream EBITDA	$	152.7	$	(28.5)	$	9.5	$	(25.0)	$	108.7
Crestwood Equity
General and administrative expense	—		—		—		1.5		1.5
Elimination of loss on long-lived assets(1)	—		53.3		—		—		53.3
Other expense, net	—		—		—		(0.1)		(0.1)
Crestwood Equity EBITDA	$	152.7	$	24.8	$	9.5	$	(26.6)	$	160.4

(1)Represents the elimination of the loss on long-lived assets recorded by CMLP related to the sale of our assets in the Barnett Shale. For a further discussion of this loss on long-lived assets, see Note 3.

	Three Months Ended June 30, 2021
	Gathering and Processing North		Gathering and Processing South		Storage and Logistics		Corporate		Total
Crestwood Midstream
Revenues	$	148.6	$	24.7	$	756.3	$	—	$	929.6
Intersegment revenues	84.2		—		(84.2)		—		—
Costs of product/services sold	120.5		0.1		676.6		—		797.2
Operations and maintenance expense	9.0		5.7		11.1		—		25.8
General and administrative expense	—		—		—		19.7		19.7
Gain on long-lived assets, net	0.3		—		—		—		0.3
Earnings (loss) from unconsolidated affiliates, net	—		1.0		(28.1)		—		(27.1)
Crestwood Midstream EBITDA	$	103.6	$	19.9	$	(43.7)	$	(19.7)	$	60.1
Crestwood Equity
General and administrative expense	—		—		—		3.1		3.1
Other income, net	—		—		—		0.1		0.1
Crestwood Equity EBITDA	$	103.6	$	19.9	$	(43.7)	$	(22.7)	$	57.1

	Six Months Ended June 30, 2022
	Gathering and Processing North		Gathering and Processing South		Storage and Logistics		Corporate		Total
Crestwood Midstream
Revenues	$	514.6	$	66.0	$	2,451.2	$	—	$	3,031.8
Intersegment revenues	279.0		—		(279.0)		—		—
Costs of product/services sold	456.4		—		2,121.2		—		2,577.6
Operations and maintenance expense	51.2		14.3		23.5		—		89.0
General and administrative expense	—		—		—		66.7		66.7
Loss on long-lived assets, net	—		(60.2)		(4.1)		—		(64.3)
Earnings from unconsolidated affiliates, net	—		7.4		1.6		—		9.0
Crestwood Midstream EBITDA	$	286.0	$	(1.1)	$	25.0	$	(66.7)	$	243.2
Crestwood Equity
General and administrative expense	—		—		—		3.2		3.2
Elimination of loss on long-lived assets(1)	—		53.3		—		—		53.3
Other income, net	—		—		—		0.2		0.2
Crestwood Equity EBITDA	$	286.0	$	52.2	$	25.0	$	(69.7)	$	293.5

(1)Represents the elimination of the loss on long-lived assets recorded by CMLP related to the sale of our assets in the Barnett Shale. For a further discussion of this loss on long-lived assets, see Note 3.

	Six Months Ended June 30, 2021
	Gathering and Processing North		Gathering and Processing South		Storage and Logistics		Corporate		Total
Crestwood Midstream
Revenues	$	278.4	$	49.3	$	1,634.6	$	—	$	1,962.3
Intersegment revenues	189.5		—		(189.5)		—		—
Costs of product/services sold	236.7		0.4		1,373.9		—		1,611.0
Operations and maintenance expense	24.1		12.0		22.5		—		58.6
General and administrative expense	—		—		—		36.9		36.9
Gain (loss) on long-lived assets, net	0.1		(1.3)		0.1		—		(1.1)
Earnings (loss) from unconsolidated affiliates, net	—		0.2		(131.0)		—		(130.8)
Crestwood Midstream EBITDA	$	207.2	$	35.8	$	(82.2)	$	(36.9)	$	123.9
Crestwood Equity
General and administrative expense	—		—		—		4.6		4.6
Other income, net	—		—		—		0.1		0.1
Crestwood Equity EBITDA	$	207.2	$	35.8	$	(82.2)	$	(41.4)	$	119.4

Other Segment Information

	CEQP				CMLP
	June 30, 2022		December 31, 2021		June 30, 2022		December 31, 2021
Total Assets
Gathering and Processing North	$	4,082.7	$	2,408.0	$	4,082.7	$	2,408.0
Gathering and Processing South	1,006.2		886.5		1,077.9		1,017.4
Storage and Logistics	1,091.7		1,125.1		1,091.7		1,125.1
Corporate	22.2		26.1		16.4		20.7
Total Assets	$	6,202.8	$	4,445.7	$	6,268.7	$	4,571.2