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Segments (Tables)
6 Months Ended
Jun. 30, 2023
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 to EBITDA (in millions):
CEQPCMLP
Three Months EndedSix Months EndedThree Months EndedSix Months Ended
June 30,June 30,June 30,June 30,
20232022202320222023202220232022
Net income (loss)$151.9 $39.4 $193.5 $61.6 $153.4 $(14.6)$196.4 $5.6 
Add:
Interest and debt expense, net55.4 40.1 111.0 76.2 55.4 40.1 111.0 76.2 
Provision for income taxes0.6 0.3 0.9 0.3 0.5 0.2 0.8 0.2 
Depreciation, amortization and accretion81.1 80.6 162.5 155.4 81.1 83.0 162.4 161.2 
EBITDA$289.0 $160.4 $467.9 $293.5 $290.4 $108.7 $470.6 $243.2 
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, 2023 and 2022 (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 2022 Annual Report on Form 10-K. Included in earnings from unconsolidated affiliates, net reflected in the tables below was approximately $1.4 million and $4.9 million of our proportionate share of net interest income, income taxes, depreciation and amortization expense and gains on long-lived assets, net recorded by our equity investments for the three months ended June 30, 2023 and 2022 and $3.9 million and $9.5 million for the six months ended June 30, 2023 and 2022.

Segment EBITDA Information

Three Months Ended June 30, 2023
Gathering and Processing NorthGathering and Processing SouthStorage and LogisticsCorporateTotal
Crestwood Midstream
Revenues
$238.9 $119.4 $662.9 $— $1,021.2 
Intersegment revenues, net61.1 32.5 (93.6)— — 
Costs of product/services sold
136.9 100.2 547.5 — 784.6 
Operations and maintenance expense
26.4 15.2 11.6 — 53.2 
General and administrative expense
— — — 23.6 23.6 
Gain (loss) on long-lived assets, net— (1.9)— 0.1 (1.8)
Earnings from unconsolidated affiliates, net (1)
— 0.6 131.8 — 132.4 
Crestwood Midstream EBITDA$136.7 $35.2 $142.0 $(23.5)$290.4 
Crestwood Equity
General and administrative expense— — — 1.4 1.4 
Crestwood Equity EBITDA$136.7 $35.2 $142.0 $(24.9)$289.0 

(1)In April 2023, we sold our equity interest in Tres Holdings which is reflected in our storage and logistics segment. During the three months ended June 30, 2023, we recorded a gain on the sale of approximately $132 million, which is reflected as an increase in our earnings from unconsolidated affiliates.
Three Months Ended June 30, 2022
Gathering and Processing NorthGathering and Processing SouthStorage and LogisticsCorporateTotal
Crestwood Midstream
Revenues$279.4 $35.3 $1,133.3 $— $1,448.0 
Intersegment revenues, net151.6 — (151.6)— — 
Costs of product/services sold250.8 0.6 961.8 — 1,213.2 
Operations and maintenance expense27.5 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 legacy assets in the Barnett Shale. For a further discussion of this loss on long-lived assets, see Note 3.

Six Months Ended June 30, 2023
Gathering and Processing NorthGathering and Processing SouthStorage and LogisticsCorporateTotal
Crestwood Midstream
Revenues
$454.3 $250.3 $1,579.7 $— $2,284.3 
Intersegment revenues, net160.1 66.7 (226.8)— — 
Costs of product/services sold
289.3 208.7 1,284.0 — 1,782.0 
Operations and maintenance expense
55.7 30.3 23.8 — 109.8 
General and administrative expense
— — — 53.8 53.8 
Gain (loss) on long-lived assets, net0.1 (2.7)— 0.4 (2.2)
Earnings from unconsolidated affiliates, net (1)
— 0.9 133.2 — 134.1 
Crestwood Midstream EBITDA$269.5 $76.2 $178.3 $(53.4)$470.6 
Crestwood Equity
General and administrative expense— — — 2.8 2.8 
Other income, net— — — 0.1 0.1 
Crestwood Equity EBITDA$269.5 $76.2 $178.3 $(56.1)$467.9 

(1)In April 2023, we sold our equity interest in Tres Holdings which is reflected in our storage and logistics segment. During the six months ended June 30, 2023, we recorded a gain on the sale of approximately $132 million, which is reflected as an increase in our earnings from unconsolidated affiliates.
Six Months Ended June 30, 2022
Gathering and Processing NorthGathering and Processing SouthStorage and LogisticsCorporateTotal
Crestwood Midstream
Revenues$514.6 $66.0 $2,451.2 $— $3,031.8 
Intersegment revenues, net279.0 — (279.0)— — 
Costs of product/services sold456.4 — 2,121.2 — 2,577.6 
Operations and maintenance expense51.2 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 legacy assets in the Barnett Shale. For a further discussion of this loss on long-lived assets, see Note 3.

Other Segment Information

CEQPCMLP
June 30, 2023December 31, 2022June 30, 2023December 31, 2022
Total Assets
Gathering and Processing North$3,935.1 $4,003.6 $3,935.1 $4,003.6 
Gathering and Processing South1,451.6 1,473.0 1,451.6 1,473.0 
Storage and Logistics888.4 1,057.6 888.4 1,057.6 
Corporate31.4 32.8 26.0 27.2 
Total assets$6,306.5 $6,567.0 $6,301.1 $6,561.4