Reportable Segment (Tables)

12 Months Ended

Dec. 31, 2024

The following table presents information about the Partnership’s single operating and reportable segment including (i) total revenues and other, (ii) significant expenses, and (iii) other segment items:


	Year Ended December 31,

thousands	2024		2023		2022
Revenues from external customers (1)	$	3,604,138	3,105,508		$	3,250,768
Other revenues	1,085		968		953
Total revenues and other	3,605,223		3,106,476		3,251,721
Equity income, net – related parties	112,385		152,959		183,483
Less significant expenses: (2)
Operation and maintenance	880,568		762,530		654,566
Cash general and administrative costs (3)	230,103		198,639		165,203
Less other segment items:
Depreciation and amortization	650,428		600,668		582,365
Interest expense	378,513		348,228		333,939
Other (income) expense, net (4)	(31,741)		(5,679)		(1,603)
Income tax expense (benefit)	18,111		4,385		4,187
Other (5)	(19,626)		302,657		445,091
Net income (loss)	$	1,611,252	$	1,048,007	$	1,251,456

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(1)Includes Service revenue - fee based, Service revenue - product based, and Product sales.

(2)The significant expense categories and amounts align with the information that is regularly provided to the CODM.

(3)General and administrative expense as presented in the consolidated statements of operations less non-cash equity-based compensation expense and non-cash amortization of cloud-computing arrangements.

(4)Includes interest income earned on cash and cash equivalent balances.

(5)Other includes: (i) Cost of product, (ii) Non-cash equity-based compensation expense, (iii) non-cash amortization of cloud-computing arrangements, (iv) Property and other taxes, (v) Long-lived asset and other impairments, (vi) Gain (loss) on divestiture and other, net, and (vii) Gain (loss) on early extinguishment of debt.