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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income (loss) $ 807,700 $ 630,654 $ 737,385
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 483,255 389,164 318,771
Impairments 6,279 230,584 180,051
Non-cash equity-based compensation expense 15,494 6,431 5,169
Deferred income taxes 7,609 139,048 (53,138)
Accretion and amortization of long-term obligations, net 8,441 5,943 4,932
Equity income, net – affiliates (237,518) (195,469) (115,141)
Distributions from equity-investment earnings – affiliates 234,572 187,392 117,093
(Gain) loss on divestiture and other, net [1],[2] 1,406 (1,312) (132,388)
(Gain) loss on interest-rate swaps 125,334 7,972 0
Cash paid to settle interest-rate swaps (107,685) 0 0
Lower of cost or market inventory adjustments 236 752 145
Changes in assets and liabilities:      
(Increase) decrease in accounts receivable, net (45,033) (60,502) (16,244)
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net (30,866) 45,605 (937)
Change in other items, net 54,876 (38,087) (2,983)
Net cash provided by operating activities 1,324,100 1,348,175 1,042,715
Cash flows from investing activities      
Capital expenditures (1,188,829) (1,948,595) (1,028,319)
Investments in equity affiliates (128,393) (133,629) (2,884)
Distributions from equity investments in excess of cumulative earnings – affiliates 30,256 29,585 31,659
Proceeds from property insurance claims 0 0 22,977
Net cash used in investing activities (3,387,853) (2,210,813) (1,133,324)
Cash flows from financing activities      
Borrowings, net of debt issuance costs [3] 4,169,695 2,671,337 468,803
Repayments of debt [4] (1,467,595) (1,040,000) 0
Increase (decrease) in outstanding checks 1,571 (3,206) 5,593
Registration expenses related to the issuance of Partnership common units (855) 0 0
Distributions to Partnership unitholders [5] (969,073) (502,457) (441,967)
Net contributions from (distributions to) Anadarko 458,819 97,755 126,866
Above-market component of swap agreements with Anadarko [5] 7,407 51,618 58,551
Finance lease payments – affiliates (508)    
Net cash provided by (used in) financing activities 2,071,573 875,192 (188,875)
Net increase (decrease) in cash and cash equivalents 7,820 12,554 (279,484)
Cash and cash equivalents at beginning of period 92,142 79,588 359,072
Cash and cash equivalents at end of period 99,962 92,142 79,588
Supplemental disclosures      
Accretion expense and revisions to the Deferred purchase price obligation – Anadarko [6] 0 0 (4,094)
Net distributions to (contributions from) Anadarko of other assets 90 (58,835) (3,189)
Interest paid, net of capitalized interest 293,795 140,720 136,624
Taxes paid (reimbursements received) 96 2,408 1,194
Accrued capital expenditures 140,954 274,632 312,720
Fair value of properties and equipment from non-cash third-party transactions [6] 0 0 551,453
Chipeta [Member]      
Cash flows from financing activities      
Distributions to Chipeta noncontrolling interest owner (9,663) (13,529) (13,569)
WES Operating [Member]      
Cash flows from financing activities      
Distributions to noncontrolling interest owner (118,225) (386,326) (355,623)
WES Operating [Member]      
Cash flows from operating activities      
Net income (loss) 814,685 636,526 742,401
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 483,255 389,164 318,771
Impairments 6,279 230,584 180,051
Non-cash equity-based compensation expense 14,235 6,153 4,922
Deferred income taxes 7,609 139,048 (53,138)
Accretion and amortization of long-term obligations, net 8,421 5,142 4,254
Equity income, net – affiliates (237,518) (195,469) (115,141)
Distributions from equity-investment earnings – affiliates 234,572 187,392 117,093
(Gain) loss on divestiture and other, net [7],[8] 1,406 (1,312) (132,388)
(Gain) loss on interest-rate swaps 125,334 7,972 0
Cash paid to settle interest-rate swaps (107,685) 0 0
Lower of cost or market inventory adjustments 236 752 145
Changes in assets and liabilities:      
(Increase) decrease in accounts receivable, net (44,939) (60,460) (16,177)
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net (29,745) 44,424 (947)
Change in other items, net 56,044 (37,802) (3,048)
Net cash provided by operating activities 1,332,189 1,352,114 1,046,798
Cash flows from investing activities      
Capital expenditures (1,188,829) (1,948,595) (1,028,319)
Investments in equity affiliates (128,393) (133,629) (2,884)
Distributions from equity investments in excess of cumulative earnings – affiliates 30,256 29,585 31,659
Proceeds from property insurance claims 0 0 22,977
Net cash used in investing activities (3,387,853) (2,210,813) (1,133,324)
Cash flows from financing activities      
Borrowings, net of debt issuance costs [9] 4,169,695 2,671,344 468,803
Repayments of debt [10] (1,439,595) (1,040,000) 0
Increase (decrease) in outstanding checks 1,571 (3,206) 5,593
Proceeds from the issuance of common units, net of offering expenses 0 0 (183)
Distributions to Partnership unitholders [11] (1,124,388) (893,649) (801,300)
Net contributions from (distributions to) Anadarko 458,819 97,755 126,866
Above-market component of swap agreements with Anadarko [11] 7,407 51,618 58,551
Net cash provided by (used in) financing activities 2,063,338 870,333 (192,585)
Net increase (decrease) in cash and cash equivalents 7,674 11,634 (279,111)
Cash and cash equivalents at beginning of period 90,448 78,814 357,925
Cash and cash equivalents at end of period 98,122 90,448 78,814
Supplemental disclosures      
Accretion expense and revisions to the Deferred purchase price obligation – Anadarko [12] 0 0 (4,094)
Net distributions to (contributions from) Anadarko of other assets 90 (58,835) (3,189)
Interest paid, net of capitalized interest 293,561 139,482 135,079
Taxes paid (reimbursements received) 96 2,408 1,194
Accrued capital expenditures 140,954 274,632 312,720
Fair value of properties and equipment from non-cash third-party transactions [12] 0 0 551,453
WES Operating [Member] | Chipeta [Member]      
Cash flows from financing activities      
Distributions to Chipeta noncontrolling interest owner (9,663) (13,529) (13,569)
Affiliates [Member]      
Cash flows from investing activities      
Contributions in aid of construction costs from affiliates 0 0 1,387
Acquisitions (2,007,926) (254) (3,910)
Cash flows from financing activities      
Borrowings, net of debt issuance costs 11,000 321,800  
Repayments of debt (439,600)    
Settlement of the Deferred purchase price obligation – Anadarko [6] 0 0 (37,346)
Distributions to Partnership unitholders (566,868) (400,194) (360,523)
Finance lease payments – affiliates (508) 0 0
Affiliates [Member] | WES Operating [Member]      
Cash flows from financing activities      
Distributions to Partnership unitholders (19,768) (7,583) (7,100)
Affiliates [Member] | WES Operating [Member]      
Cash flows from investing activities      
Contributions in aid of construction costs from affiliates 0 0 1,387
Acquisitions (2,007,926) (254) (3,910)
Cash flows from financing activities      
Borrowings, net of debt issuance costs 11,000 321,800  
Repayments of debt (439,600)    
Settlement of the Deferred purchase price obligation – Anadarko [12] 0 0 (37,346)
Distributions to Partnership unitholders (1,025,931) (514,906) (452,777)
Finance lease payments – affiliates (508) 0 0
Third Parties [Member]      
Cash flows from investing activities      
Acquisitions (93,303) (161,858) (177,798)
Proceeds from the sale of assets 342 3,938 23,564
Third Parties [Member] | WES Operating [Member]      
Cash flows from investing activities      
Acquisitions (93,303) (161,858) (177,798)
Proceeds from the sale of assets $ 342 $ 3,938 $ 23,564
[1]
Includes losses related to an incident at the DBM complex for the year ended December 31, 2017. See Note 1.
[2]
Includes losses related to an incident at the DBM complex for the year ended December 31, 2017. See Note 1.
[3] For the years ended December 31, 2019 and 2018, includes $11.0 million and $321.8 million of borrowings, respectively, under the APCWH Note Payable.
[4]
For the year ended December 31, 2019, includes a $439.6 million repayment to settle the APCWH Note Payable. See Note 6.
[5]
See Note 6.
[6]
See Note 3.
[7]
Includes losses related to an incident at the DBM complex for the year ended December 31, 2017. See Note 1.
[8]
Includes losses related to an incident at the DBM complex for the year ended December 31, 2017. See Note 1.
[9]
For the years ended December 31, 2019 and 2018, includes $11.0 million and $321.8 million of borrowings, respectively, under the APCWH Note Payable.
[10]
For the year ended December 31, 2019, includes a $439.6 million repayment to settle the APCWH Note Payable. See Note 6.
[11]
See Note 6.
[12]
See Note 3.