XML 45 R26.htm IDEA: XBRL DOCUMENT v3.19.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Assets and Investments Table
As of December 31, 2018, WES’s assets and investments, including AMA (as defined in Note 3), consisted of the following:
 
 
Owned and
Operated
 
Operated
Interests
 
Non-Operated
Interests
 
Equity
Interests
Gathering systems (1)
 
17

 
2

 
3

 
2

Treating facilities
 
34

 
3

 
—

 
3

Natural gas processing plants/trains
 
23

 
3

 
—

 
5

NGLs pipelines
 
2

 
—

 
—

 
4

Natural gas pipelines
 
5

 
—

 
—

 
—

Oil pipelines
 
3

 
1

 
—

 
3


(1) 
Includes the DBM water systems.
Ownership Interests and Method of Consolidation Table
The following table outlines WES’s ownership interests and the accounting method of consolidation used in WES’s consolidated financial statements for entities not wholly owned:
 
 
Percentage Interest
Equity investments (1)
 
 
Fort Union
 
14.81
%
White Cliffs
 
10.00
%
Rendezvous
 
22.00
%
Mont Belvieu JV
 
25.00
%
TEP
 
20.00
%
TEG
 
20.00
%
FRP
 
33.33
%
Whitethorn
 
20.00
%
Cactus II
 
15.00
%
Saddlehorn
 
20.00
%
Panola
 
15.00
%
Mi Vida
 
50.00
%
Ranch Westex
 
50.00
%
Proportionate consolidation (2)
 
 
Marcellus Interest systems
 
33.75
%
Springfield system
 
50.10
%
Full consolidation
 
 
Chipeta (3)
 
75.00
%
(1) 
Investments in non-controlled entities over which WES exercises significant influence are accounted for under the equity method. “Equity investment throughput” refers to WES’s share of average throughput for these investments.
(2) 
WGP proportionately consolidates WES’s associated share of the assets, liabilities, revenues and expenses attributable to these assets.
(3) 
The 25% interest in Chipeta Processing LLC (“Chipeta”) held by a third-party member is reflected within noncontrolling interests in the consolidated financial statements, in addition to the noncontrolling interests noted below.
Impact of New Accounting Pronouncement Tables
The following tables summarize the impact of adopting Topic 606 on the impacted line items within the consolidated statement of operations and the consolidated balance sheet. The differences between revenue as reported following Topic 606 and revenue as it would have been reported under Topic 605 are due to the changes described above.

 
 
Year Ended 
 December 31, 2018
thousands
 
As Reported
 
Without Adoption of Topic 606
 
Effect of Change
Increase / (Decrease)
Revenues
 
 
 
 
 
 
Service revenues – fee based
 
$
1,905,728

 
$
1,751,242

 
$
154,486

Service revenues – product based
 
88,785

 
—

 
88,785

Product sales
 
303,020

 
1,405,898

 
(1,102,878
)
Expenses
 
 
 
 
 
 
Cost of product
 
415,505

 
1,338,100

 
(922,595
)
Operation and maintenance
 
480,861

 
480,668

 
193

Depreciation and amortization
 
389,164

 
386,179

 
2,985

Impairments
 
230,584

 
230,539

 
45

Income tax expense (benefit)
 
58,934

 
58,804

 
130

Net income (loss) attributable to noncontrolling interests
 
79,083

 
86,164

 
(7,081
)
Net income (loss) attributable to Western Gas Equity Partners, LP
 
551,571

 
484,855

 
66,716

 

 
 
December 31, 2018
thousands
 
As Reported
 
Without Adoption of Topic 606
 
Effect of Change
Increase / (Decrease)
Assets
 
 
 
 
 


Other current assets
 
$
27,056

 
$
21,657

 
$
5,399

Net property, plant and equipment
 
8,410,353

 
8,291,554

 
118,799

Other assets
 
67,194

 
24,972

 
42,222

Liabilities
 
 
 
 
 


Accrued liabilities
 
129,148

 
123,241

 
5,907

Deferred income taxes
 
280,017

 
254,939

 
25,078

Other liabilities
 
132,130

 
2,741

 
129,389

Equity and partners’ capital
 
 
 
 
 


Total equity and partners’ capital
 
4,892,683

 
4,886,637

 
6,046