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Description of Business and Basis of Presentation (tables)
 3 Months Ended
Mar. 31, 2015
Accounting Policies [Abstract]  
Assets and Investments Table
As of March 31, 2015, WES’s assets and investments accounted for under the equity method consisted of the following:
 
 
Owned and
Operated
 
Operated
Interests
 
Non-Operated
Interests
 
Equity Interests
Natural gas gathering systems
 
14

 
2

 
5

 
2

Natural gas treating facilities
 
8

 
5

 
—

 
1

Natural gas processing facilities
 
13

 
3

 
—

 
2

NGL pipelines
 
3

 
—

 
—

 
3

Natural gas pipelines
 
4

 
—

 
—

 
—

Oil pipelines
 
1

 
—

 
—

 
1
Restatement Tables
The tables below outline the financial statement line items, including the net income (loss) per common unit (basic and diluted), as of and for the three months ended March 31, 2015, that were restated as a result of the correction of this error:
 
 
Consolidated Statement of Income for the Three Months Ended March 31, 2015
thousands except per-unit amounts
 
As Reported
 
Adjustments
 
As Restated
Impairments (1)
 
$
8,222

 
$
264,402

 
$
272,624

Operating income (loss)
 
109,083

 
(264,402
)
 
(155,319
)
Income (loss) before income taxes
 
90,426

 
(264,402
)
 
(173,976
)
Income tax (benefit) expense
 
4,460

 
(1,044
)
 
3,416

Net income (loss)
 
85,966

 
(263,358
)
 
(177,392
)
Net income (loss) attributable to Western Gas Equity Partners, LP
 
57,029

 
(96,698
)
 
(39,669
)
 
 
 
 
 
 
 
Limited partners’ interest in net income (loss)
 
55,287

 
(96,698
)
 
(41,411
)
Net income (loss) per common unit – basic and diluted
 
$
0.25

 
$
(0.44
)
 
$
(0.19
)
                                                                                                                                                                                 
(1) 
“As Reported” amount previously included as a component of Depreciation, amortization and impairments in WGP’s Original Filing.

 
 
Consolidated Balance Sheet as of
March 31, 2015
thousands
 
As Reported
 
Adjustments
 
As Restated
Accumulated depreciation
 
$
1,103,643

 
$
264,402

 
$
1,368,045

Net property, plant and equipment
 
4,711,271

 
(264,402
)
 
4,446,869

Total assets
 
7,096,275

 
(264,402
)
 
6,831,873

 
 
 
 
 
 
 
Accrued liabilities
 
171,786

 
(569
)
 
171,217

Total current liabilities
 
242,526

 
(569
)
 
241,957

Deferred income taxes
 
7,802

 
(475
)
 
7,327

Total long-term liabilities
 
2,831,259

 
(475
)
 
2,830,784

Total liabilities
 
3,073,785

 
(1,044
)
 
3,072,741

 
 
 
 
 
 
 
Common units
 
1,252,921

 
(96,413
)
 
1,156,508

Total partners’ capital
 
1,252,921

 
(96,413
)
 
1,156,508

Noncontrolling interests
 
2,769,569

 
(166,945
)
 
2,602,624

Total equity and partners’ capital
 
4,022,490

 
(263,358
)
 
3,759,132

Total liabilities, equity and partners’ capital
 
7,096,275

 
(264,402
)
 
6,831,873


 
 
Consolidated Statement of Cash Flows for the Three Months Ended March 31, 2015
thousands
 
As Reported
 
Adjustments
 
As Restated
Net income (loss)
 
$
85,966

 
$
(263,358
)
 
$
(177,392
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
 
 
Impairments (1)
 
8,222

 
264,402

 
272,624

Deferred income taxes
 
3,758

 
(475
)
 
3,283

Increase (decrease) in accounts and natural gas imbalance payables and accrued liabilities, net
 
10,552

 
(569
)
 
9,983

                                                                                                                                                                                 
(1) 
“As Reported” amount previously included as a component of Depreciation, amortization and impairments in WGP’s Original Filing.