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Description of Business and Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2015
Accounting Policies [Abstract]  
Assets and Investments Table
As of September 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
 
12

 
2

 
5

 
2

Natural gas treating facilities
 
9

 
4

 
—

 
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 nine months ended September 30, 2015, that were restated as a result of the correction of this error:
 
 
Consolidated Statement of Income for the Three Months Ended September 30, 2015
 
Consolidated Statement of Income for the Nine Months Ended September 30, 2015
thousands except per-unit amounts
 
As Reported
 
Adjustments
 
As Restated
 
As Reported
 
Adjustments
 
As Restated
Depreciation and amortization (1)
 
$
63,351

 
$
(3,191
)
 
$
60,160

 
$
190,114

 
$
(6,399
)
 
$
183,715

Impairments (1)
 
2,337

 
—

 
2,337

 
11,827

 
264,402

 
276,229

Operating income (loss)
 
191,865

 
3,191

 
195,056

 
434,977

 
(258,003
)
 
176,974

Income (loss) before income taxes
 
164,413

 
3,191

 
167,604

 
365,569

 
(258,003
)
 
107,566

Income tax (benefit) expense
 
1,661

 
208

 
1,869

 
4,305

 
(730
)
 
3,575

Net income (loss)
 
162,752

 
2,983

 
165,735

 
361,264

 
(257,273
)
 
103,991

Net income (loss) attributable to Western Gas Equity Partners, LP
 
88,284

 
1,087

 
89,371

 
213,108

 
(94,474
)
 
118,634

 
 
 
 
 
 
 
 
 
 
 
 
 
Limited partners’ interest in net income (loss)
 
88,284

 
1,087

 
89,371

 
211,366

 
(94,474
)
 
116,892

Net income (loss) per common unit – basic and diluted
 
$
0.40

 
0.01

 
$
0.41

 
$
0.97

 
$
(0.44
)
 
$
0.53

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

 
 
Consolidated Balance Sheet as of
September 30, 2015
thousands
 
As Reported
 
Adjustments
 
As Restated
Accumulated depreciation
 
$
1,072,799

 
$
258,003

 
$
1,330,802

Net property, plant and equipment
 
4,789,922

 
(258,003
)
 
4,531,919

Total assets
 
7,174,004

 
(258,003
)
 
6,916,001

 
 
 
 
 
 
 
Accrued liabilities
 
138,985

 
(233
)
 
138,752

Total current liabilities
 
222,999

 
(233
)
 
222,766

Deferred income taxes
 
7,037

 
(497
)
 
6,540

Total long-term liabilities
 
2,897,844

 
(497
)
 
2,897,347

Total liabilities
 
3,120,843

 
(730
)
 
3,120,113

 
 
 
 
 
 
 
Common units
 
1,264,012

 
(93,737
)
 
1,170,275

Total partners’ capital
 
1,264,012

 
(93,737
)
 
1,170,275

Noncontrolling interests
 
2,789,149

 
(163,536
)
 
2,625,613

Total equity and partners’ capital
 
4,053,161

 
(257,273
)
 
3,795,888

Total liabilities, equity and partners’ capital
 
7,174,004

 
(258,003
)
 
6,916,001


1.  DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (RESTATED) (CONTINUED)
 
 
Consolidated Statement of Cash Flows for the Nine Months Ended September 30, 2015
thousands
 
As Reported
 
Adjustments
 
As Restated
Net income (loss)
 
$
361,264

 
$
(257,273
)
 
$
103,991

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
 
 
Depreciation and amortization (1)
 
190,114

 
(6,399
)
 
183,715

Impairments (1)
 
11,827

 
264,402

 
276,229

Deferred income taxes
 
2,993

 
(497
)
 
2,496

Increase (decrease) in accounts and natural gas imbalance payables and accrued liabilities, net
 
16,049

 
(233
)
 
15,816

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