XML 27 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income (loss) [1] $ 630,654 $ 737,385 $ 658,286
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization [1] 389,164 318,771 295,959
Impairments [1] 230,584 180,051 17,822
Non-cash equity-based compensation expense [1] 6,431 5,169 4,986
Deferred income taxes [1] 139,048 (53,138) 51,192
Accretion and amortization of long-term obligations, net [1] 5,943 4,932 (3,262)
Equity income, net – affiliates [1],[2] (195,469) (115,141) (101,692)
Distributions from equity investment earnings – affiliates [1] 187,392 117,093 104,948
(Gain) loss on divestiture and other, net [1],[3] (1,312) (132,388) 14,641
(Gain) loss on interest-rate swaps [1] 7,972 0 0
Lower of cost or market inventory adjustments [1] 752 145 168
Changes in assets and liabilities:      
(Increase) decrease in accounts receivable, net [1] (60,502) (16,244) (48,491)
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net [1] 45,605 (937) 60,702
Change in other items, net [1] (38,087) (2,983) 890
Net cash provided by operating activities [1] 1,348,175 1,042,715 1,056,149
Cash flows from investing activities      
Capital expenditures [1] (1,948,595) (1,028,319) (554,121)
Investments in equity affiliates [1] (133,629) [4] (2,884) (58,726)
Distributions from equity investments in excess of cumulative earnings – affiliates [1] 29,585 [5] 31,659 [5] 29,725
Proceeds from property insurance claims [1] 0 22,977 17,465
Net cash used in investing activities [1] (2,210,813) (1,133,324) (1,229,874)
Cash flows from financing activities      
Borrowings, net of debt issuance costs [1],[6] 2,671,337 468,803 1,323,198
Repayments of debt [1] (1,040,000) 0 (900,000)
Increase (decrease) in outstanding checks [1] (3,206) 5,593 2,079
Distributions to WGP unitholders [1],[7] (502,457) (441,967) (374,082)
Net contributions from (distributions to) Anadarko [1] 97,755 126,866 (42,224)
Above-market component of swap agreements with Anadarko [1],[7] 51,618 58,551 45,820
Net cash provided by (used in) financing activities [1] 875,192 (188,875) 433,103
Net increase (decrease) in cash and cash equivalents [1] 12,554 (279,484) 259,378
Cash and cash equivalents at beginning of period [1] 79,588 359,072 99,694
Cash and cash equivalents at end of period [1] 92,142 79,588 359,072
Supplemental disclosures      
Accretion expense and revisions to the Deferred purchase price obligation – Anadarko [1],[8] 0 (4,094) (147,234)
Net distributions to (contributions from) Anadarko of other assets [1],[9] (58,835) (3,189) 451
Interest paid, net of capitalized interest [1] 140,720 136,624 99,413
Taxes paid (reimbursements received) [1] 2,408 1,194 838
Accrued capital expenditures [1] 274,632 312,720 87,586
Fair value of properties and equipment from non-cash third party transactions [1],[8] 0 551,453 0
Chipeta [Member]      
Cash flows from financing activities      
Distributions to Chipeta noncontrolling interest owner [1] (13,529) (13,569) (13,784)
Western Gas Partners, LP [Member]      
Cash flows from financing activities      
Proceeds from the issuance of WES common units, net of offering expenses [1] 0 (183) 0
Distributions to noncontrolling interest owners of WES [1] (386,326) (355,623) (294,841)
Affiliates [Member]      
Cash flows from investing activities      
Contributions in aid of construction costs from affiliates [1] 0 1,387 6,135
Acquisitions [1] (254) (3,910) (716,465)
Proceeds from the sale of assets [1] 0 0 623
Cash flows from financing activities      
Settlement of the Deferred purchase price obligation - Anadarko [1],[8] 0 (37,346) 0
Distributions to WGP unitholders [10] (400,194) (360,523) (315,505)
Affiliates [Member] | Western Gas Partners, LP [Member]      
Cash flows from financing activities      
Distributions to WGP unitholders [11] (7,583) (7,100) (5,614)
Third Parties [Member]      
Cash flows from investing activities      
Acquisitions [1] (161,858) (177,798) 0
Proceeds from the sale of assets [1] 3,938 23,564 45,490
Series A Preferred Units [Member] | Western Gas Partners, LP [Member]      
Cash flows from financing activities      
Proceeds from the issuance of WES Series A Preferred units, net of offering expenses [1] $ 0 $ 0 $ 686,937
[1] Financial information has been recast to include the financial position and results attributable to AMA. See Note 1 and Note 3.
[2] Represents amounts earned or incurred on and subsequent to the date of the acquisition of WES assets, as well as amounts earned or incurred by Anadarko on a historical basis related to WES assets prior to the acquisition of such assets by WES.
[3] Includes losses related to an incident at the DBM complex for the year ended December 31, 2017. See Note 1.
[4] Includes capitalized interest of $1.4 million related to the construction of the Cactus II pipeline.
[5] Distributions in excess of cumulative earnings, classified as investing cash flows in the consolidated statements of cash flows, are calculated on an individual investment basis.
[6] For the years ended December 31, 2018 and 2017, includes $321.8 million and $98.8 million of borrowings, respectively, under the APCWH Note Payable.
[7] See Note 6.
[8] See Note 3.
[9] Includes $(1.4) million related to pipe and equipment purchases and $(1.8) million related to other assets for the year ended December 31, 2017. See Note 6.
[10] Represents distributions paid under WGP’s partnership agreement (see Note 4 and Note 5).
[11] Represents distributions paid to other subsidiaries of Anadarko under WES’s partnership agreement (see Note 4 and Note 5).