XML 15 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues and other        
Revenues and other [1] $ 905,629 $ 738,273 $ 1,793,358 $ 1,472,255
Equity income, net – related parties 27,431 42,324 60,250 81,345
Operating expenses        
Cost of product 54,010 44,746 100,089 96,205
Operation and maintenance 223,319 183,431 418,258 357,670
General and administrative 62,933 53,405 130,772 104,522
Property and other taxes 17,429 18,547 31,349 25,378
Depreciation and amortization 163,432 143,492 321,423 288,118
Long-lived asset and other impairments [2] 1,530 234 1,553 52,635
Total operating expenses [3] 522,653 443,855 1,003,444 924,528
Gain (loss) on divestiture and other, net 59,342 (70) 298,959 (2,188)
Operating income (loss) 469,749 336,672 1,149,123 626,884
Interest expense (90,522) (86,182) (185,028) (167,852)
Gain (loss) on early extinguishment of debt 4,879 6,813 5,403 6,813
Other income (expense), net 4,213 2,872 6,559 4,087
Income (loss) before income taxes 388,319 260,175 976,057 469,932
Income tax expense (benefit) 755 659 2,277 2,075
Net income (loss) 387,564 259,516 973,780 467,857
Net income (loss) attributable to noncontrolling interests 8,916 6,595 22,302 11,291
Net income (loss) attributable to Western Midstream Partners, LP 378,648 252,921 951,478 456,566
Limited partners' interest in net income (loss):        
Net income (loss) attributable to Western Midstream Partners, LP 378,648 252,921 951,478 456,566
General partner interest in net (income) loss (8,807) (5,821) (22,137) (10,507)
Limited partners' interest in net income (loss) [4] $ 369,841 $ 247,100 $ 929,341 $ 446,059
Net income (loss) per common unit - basic [4] $ 0.97 $ 0.64 $ 2.44 $ 1.16
Net income (loss) per common unit - diluted [4] $ 0.97 $ 0.64 $ 2.43 $ 1.16
Weighted-average common units outstanding - basic [4] 380,491 384,614 380,258 384,542
Weighted-average common units outstanding - diluted [4] 382,253 385,510 381,933 385,665
Service Revenues - Fee Based [Member]        
Revenues and other        
Revenues and other $ 793,785 $ 661,506 $ 1,575,047 $ 1,309,373
Service Revenues - Product Based [Member]        
Revenues and other        
Revenues and other 61,466 46,956 128,206 93,766
Product Sales [Member]        
Revenues and other        
Revenues and other 50,111 29,659 89,403 68,684
Other [Member]        
Revenues and other        
Revenues and other $ 267 $ 152 $ 702 $ 432
[1] Total revenues and other includes related-party amounts of $534.1 million and $1,033.9 million for the three and six months ended June 30, 2024, respectively, and $441.6 million and $890.4 million for the three and six months ended June 30, 2023, respectively. See Note 6.
[2] See Note 8.
[3] Total operating expenses includes related-party amounts of $0.3 million and $(25.7) million for the three and six months ended June 30, 2024, respectively, and $(14.1) million and $(17.2) million for the three and six months ended June 30, 2023, respectively, all primarily related to changes in imbalance positions. See Note 6.
[4] See Note 5.