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Consolidated Statements of Cash Flows - WES Operating - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income (loss) $ 208,341 $ 317,670
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 144,626 134,582
Long-lived asset and other impairments [1] 52,401 0
Non-cash equity-based compensation expense 7,199 7,743
Deferred income taxes 924 1,132
Accretion and amortization of long-term obligations, net 1,692 1,782
Equity income, net – related parties (39,021) (49,607)
Distributions from equity-investment earnings – related parties 39,609 45,870
(Gain) loss on divestiture and other, net 2,118 (370)
Other 200 0
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable, net (4,037) (165,134)
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net (136,460) (14,292)
Change in other items, net 24,832 (2,918)
Net cash provided by operating activities 302,424 276,458
Cash flows from investing activities    
Capital expenditures (173,088) (83,971)
Contributions to equity investments – related parties (110) (2,070)
Distributions from equity investments in excess of cumulative earnings – related parties 12,366 9,925
(Increase) decrease in materials and supplies inventory and other (18,346) 4,116
Net cash used in investing activities (179,178) (71,617)
Cash flows from financing activities    
Borrowings, net of debt issuance costs 220,000 0
Repayments of debt (313,138) 0
Increase (decrease) in outstanding checks 18,768 (7,088)
Distributions to WES Operating unitholders [2] (196,569) (134,749)
Net contributions from (distributions to) related parties 0 409
Other (12,746) (7,225)
Net cash provided by (used in) financing activities (297,257) (158,591)
Net increase (decrease) in cash and cash equivalents (174,011) 46,250
Cash and cash equivalents at beginning of period 286,656 201,999
Cash and cash equivalents at end of period 112,645 248,249
Supplemental disclosures    
Interest paid, net of capitalized interest 133,245 149,289
Income taxes paid (reimbursements received) 1,270 905
Accrued capital expenditures 91,067 36,821
Third Parties [Member]    
Cash flows from investing activities    
Proceeds from the sale of assets to third parties 0 383
Chipeta [Member]    
Cash flows from financing activities    
Distributions to Chipeta noncontrolling interest owner (2,240) (1,984)
WES Operating [Member]    
Cash flows from operating activities    
Net income (loss) 208,548 318,408
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 144,626 134,582
Long-lived asset and other impairments [3] 52,401 0
Non-cash equity-based compensation expense 7,058 7,612
Deferred income taxes 924 1,132
Accretion and amortization of long-term obligations, net 1,692 1,782
Equity income, net – related parties (39,021) (49,607)
Distributions from equity-investment earnings – related parties 39,609 45,870
(Gain) loss on divestiture and other, net 2,118 (370)
Other 200 0
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable, net (5,048) (165,134)
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net (148,148) (21,864)
Change in other items, net 26,009 (2,294)
Net cash provided by operating activities 290,968 270,117
Cash flows from investing activities    
Capital expenditures (173,088) (83,971)
Contributions to equity investments – related parties (110) (2,070)
Distributions from equity investments in excess of cumulative earnings – related parties 12,366 9,925
(Increase) decrease in materials and supplies inventory and other (18,346) 4,116
Net cash used in investing activities (179,178) (71,617)
Cash flows from financing activities    
Borrowings, net of debt issuance costs 220,000 0
Repayments of debt (313,138) 0
Increase (decrease) in outstanding checks 18,726 (6,953)
Distributions to WES Operating unitholders [4] (213,513) (140,217)
Net contributions from (distributions to) related parties 0 409
Other (796) (1,140)
Net cash provided by (used in) financing activities (290,961) (149,885)
Net increase (decrease) in cash and cash equivalents (179,171) 48,615
Cash and cash equivalents at beginning of period 286,101 195,598
Cash and cash equivalents at end of period 106,930 244,213
Supplemental disclosures    
Interest paid, net of capitalized interest 133,245 149,289
Income taxes paid (reimbursements received) 1,270 905
Accrued capital expenditures 91,067 36,821
WES Operating [Member] | Third Parties [Member]    
Cash flows from investing activities    
Proceeds from the sale of assets to third parties 0 383
WES Operating [Member] | Chipeta [Member]    
Cash flows from financing activities    
Distributions to Chipeta noncontrolling interest owner $ (2,240) $ (1,984)
[1] See Note 7.
[2] Includes related-party amounts. See Note 5.
[3] See Note 7.
[4] Includes related-party amounts. See Note 5