Equity Investments (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

The following tables present the financial statement impact of the Partnership’s equity investments for the years ended December 31, 2020 and 2021:


thousands	Balance at December 31, 2019		Other-than-temporary impairment expense (1)		Equity income, net		Contributions		Distributions		Distributions in excess of cumulative earnings (2)		Divestitures		Balance at December 31, 2020
Fort Union	$	(610)	$	—	$	(544)	$	—	$	—	$	—	$	1,154	$	—
White Cliffs	45,877		—		5,474		993		(4,892)		(1,829)		—		45,623
Rendezvous	32,964		—		52		—		(1,994)		(2,824)		—		28,198
Mont Belvieu JV	103,036		—		25,913		—		(25,951)		(4,124)		—		98,874
TEG	18,199		—		4,483		—		(4,504)		(1,517)		—		16,661
TEP	203,556		—		36,351		—		(39,655)		(5,063)		—		195,189
FRP	207,782		—		37,736		3,670		(39,254)		(10,053)		—		199,881
Whitethorn LLC	161,665		—		35,725		428		(41,070)		(19)		—		156,729
Cactus II	172,165		—		22,193		13,645		(31,982)		(2,100)		—		173,921
Saddlehorn	112,855		—		26,255		—		(27,393)		—		—		111,717
Panola	21,783		—		2,047		—		(2,047)		(916)		—		20,867
Mi Vida	57,807		—		10,764		—		(11,563)		(1,977)		—		55,031
Ranch Westex	46,678		(29,399)		12,127		—		(9,802)		(706)		—		18,898
Red Bluff Express	101,960		—		8,174		652		(6,530)		(1,032)		—		103,224
Total	$	1,285,717	$	(29,399)	$	226,750	$	19,388	$	(246,637)	$	(32,160)	$	1,154	$	1,224,813


thousands	Balance at December 31, 2020		Other-than-temporary impairment expense (1)		Equity income, net		Contributions		Distributions		Distributions in excess of cumulative earnings (2)		Balance at December 31, 2021
White Cliffs	$	45,623	$	—	$	780	$	—	$	(199)	$	(5,451)	$	40,753
Rendezvous	28,198		—		(2,155)		—		(1,103)		(2,865)		22,075
Mont Belvieu JV	98,874		—		33,991		—		(33,944)		(2,193)		96,728
TEG	16,661		—		4,508		—		(4,533)		(520)		16,116
TEP	195,189		—		36,547		—		(36,797)		(6,014)		188,925
FRP	199,881		—		38,280		750		(38,275)		(4,004)		196,632
Whitethorn LLC	156,729		—		4,969		349		(6,428)		(5,929)		149,690
Cactus II	173,921		—		18,237		3,336		(18,404)		(5,796)		171,294
Saddlehorn	111,717		—		30,878		—		(31,403)		(751)		110,441
Panola	20,867		—		2,188		—		(2,188)		(823)		20,044
Mi Vida	55,031		—		10,491		—		(10,596)		(3,163)		51,763
Ranch Westex	18,898		(11,805)		12,407		—		(15,657)		(2,864)		979
Red Bluff Express	103,224		—		13,524		—		(13,989)		(1,012)		101,747
Total	$	1,224,813	$	(11,805)	$	204,645	$	4,435	$	(213,516)	$	(41,385)	$	1,167,187

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(1)Recorded in Long-lived asset and other impairments in the consolidated statements of operations.

(2)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.

Summarized Equity Investments Financial Information Presented at 100 Percent Tables

The following tables present the summarized combined financial information for equity investments (amounts represent 100% of investee financial information):


	Year Ended December 31,
thousands	2021		2020		2019
Revenues	$	1,808,791	$	1,635,132	$	1,687,116
Operating income	946,299		1,045,889		1,107,664
Net income	945,801		1,045,076		1,108,173


	December 31,
thousands	2021		2020
Current assets	$	398,696	$	398,933
Property, plant, and equipment, net	5,442,565		5,653,853
Other assets	182,323		171,353
Total assets	$	6,023,584	$	6,224,139
Current liabilities	$	157,099	$	144,629
Non-current liabilities	24,713		31,383
Equity	5,841,772		6,048,127
Total liabilities and equity	$	6,023,584	$	6,224,139