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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 906,422 $ 693,150
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 430,455 407,404
Long-lived asset and other impairments 94 29,198
Non-cash equity-based compensation expense 21,245 20,834
Deferred income taxes 1,757 2,275
Accretion and amortization of long-term obligations, net 5,359 5,873
Equity income, net – related parties (139,388) (159,337)
Distributions from equity-investment earnings – related parties 139,710 164,772
(Gain) loss on divestiture and other, net 884 (278)
(Gain) loss on early extinguishment of debt (91) 24,944
Other 299 46
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable, net (212,955) (130,773)
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net 65,069 56,495
Change in other items, net (6,653) (9,609)
Net cash provided by operating activities 1,212,207 1,104,994
Cash flows from investing activities    
Capital expenditures [1] (341,505) (219,757)
Contributions to equity investments – related parties (8,899) (3,683)
Distributions from equity investments in excess of cumulative earnings – related parties 41,058 30,075
Proceeds from the sale of assets to third parties 1,111 8,002
(Increase) decrease in materials and supplies inventory and other (6,999) (1,924)
Net cash used in investing activities (356,252) (187,287)
Cash flows from financing activities    
Borrowings, net of debt issuance costs 1,389,010 400,000
Repayments of debt (1,268,548) (1,132,966)
Increase (decrease) in outstanding checks 1,459 (11,757)
Distributions to Partnership unitholders [2] (538,690) (398,896)
Net contributions from (distributions to) related parties 1,161 6,673
Unit repurchases [2] (447,075) (104,366)
Other (10,981) (8,787)
Net cash provided by (used in) financing activities (898,861) (1,262,767)
Net increase (decrease) in cash and cash equivalents (42,906) (345,060)
Cash and cash equivalents at beginning of period 201,999 444,922
Cash and cash equivalents at end of period 159,093 99,862
Supplemental disclosures    
Interest paid, net of capitalized interest 314,192 348,904
Income taxes paid (reimbursements received) 905 932
Accrued capital expenditures 71,955 29,085
Third Parties [Member]    
Cash flows from investing activities    
Acquisitions from third parties (41,018) 0
Chipeta [Member]    
Cash flows from financing activities    
Distributions to Chipeta noncontrolling interest owner (5,020) (2,734)
WES Operating [Member]    
Cash flows from financing activities    
Distributions to noncontrolling interest owner of WES Operating $ (20,177) $ (9,934)
[1] Includes purchases from related parties of $2.0 million for the nine months ended September 30, 2021. See Note 6.
[2] Includes related-party amounts. See Note 6.