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Description of Business and Basis of Presentation (Tables)
 6 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
Assets and Investments Table
As of June 30, 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
 
10

 
5

 
—

 
1

Natural gas processing facilities
 
14

 
5

 
—

 
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 and six months ended June 30, 2015, that were restated as a result of the correction of this error:
 
 
Consolidated Statement of Income for the Three Months Ended June 30, 2015
 
Consolidated Statement of Income for the Six Months Ended June 30, 2015
thousands except per-unit amounts
 
As Reported
 
Adjustments
 
As Restated
 
As Reported
 
Adjustments
 
As Restated
Depreciation and amortization (1)
 
$
64,693

 
$
(3,208
)
 
$
61,485

 
$
126,763

 
$
(3,208
)
 
$
123,555

Impairments (1)
 
1,268

 
—

 
1,268

 
9,490

 
264,402

 
273,892

Operating income (loss)
 
134,029

 
3,208

 
137,237

 
243,112

 
(261,194
)
 
(18,082
)
Income (loss) before income taxes
 
110,730

 
3,208

 
113,938

 
201,156

 
(261,194
)
 
(60,038
)
Income tax (benefit) expense
 
(1,816
)
 
106

 
(1,710
)
 
2,644

 
(938
)
 
1,706

Net income (loss)
 
112,546

 
3,102

 
115,648

 
198,512

 
(260,256
)
 
(61,744
)
Net income (loss) attributable to Western Gas Equity Partners, LP
 
67,795

 
1,137

 
68,932

 
124,824

 
(95,561
)
 
29,263

 
 
 
 
 
 
 
 
 
 
 
 
 
Limited partners’ interest in net income (loss)
 
67,795

 
1,137

 
68,932

 
123,082

 
(95,561
)
 
27,521

Net income (loss) per common unit – basic and diluted
 
$
0.31

 
$
—

 
$
0.31

 
$
0.56

 
$
(0.43
)
 
$
0.13

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

 
 
Consolidated Balance Sheet as of
June 30, 2015
thousands
 
As Reported
 
Adjustments
 
As Restated
Accumulated depreciation
 
$
1,165,607

 
$
261,194

 
$
1,426,801

Net property, plant and equipment
 
4,782,541

 
(261,194
)
 
4,521,347

Total assets
 
7,217,653

 
(261,194
)
 
6,956,459

 
 
 
 
 
 
 
Accrued liabilities
 
149,669

 
(401
)
 
149,268

Total current liabilities
 
213,143

 
(401
)
 
212,742

Deferred income taxes
 
5,869

 
(537
)
 
5,332

Total long-term liabilities
 
2,982,819

 
(537
)
 
2,982,282

Total liabilities
 
3,195,962

 
(938
)
 
3,195,024

 
 
 
 
 
 
 
Common units
 
1,244,765

 
(94,925
)
 
1,149,840

Total partners’ capital
 
1,244,765

 
(94,925
)
 
1,149,840

Noncontrolling interests
 
2,776,926

 
(165,331
)
 
2,611,595

Total equity and partners’ capital
 
4,021,691

 
(260,256
)
 
3,761,435

Total liabilities, equity and partners’ capital
 
7,217,653

 
(261,194
)
 
6,956,459


1.  DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (RESTATED) (CONTINUED)
 
 
Consolidated Statement of Cash Flows for the Six Months Ended June 30, 2015
thousands
 
As Reported
 
Adjustments
 
As Restated
Net income (loss)
 
$
198,512

 
$
(260,256
)
 
$
(61,744
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
 
 
Depreciation and amortization (1)
 
126,763

 
(3,208
)
 
123,555

Impairments (1)
 
9,490

 
264,402

 
273,892

Deferred income taxes
 
1,825

 
(537
)
 
1,288

Increase (decrease) in accounts and natural gas imbalance payables and accrued liabilities, net
 
287

 
(401
)
 
(114
)
                                                                                                                                                                                  
(1) 
“As Reported” amounts previously included as a component of Depreciation, amortization and impairments in WGP’s Original Filing.