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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of Cumulative Effect of Changes made to Balance Sheet for the Adoption of Topic 606

The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of Topic 606 was as follows:

 

 

Balance at December 31,

2017

 

 

Adjustments Due to Topic 606

 

 

Balance at January 1,

2018

 

 

 

(In thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment, net

 

$

1,795,129

 

 

$

33,123

 

 

$

1,828,252

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue, current

 

 

4,000

 

 

 

6,088

 

 

 

10,088

 

Deferred revenue, noncurrent

 

 

12,707

 

 

 

22,821

 

 

 

35,528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Partners' Capital (1)

 

 

1,084,430

 

 

 

4,214

 

 

 

1,088,644

 

________

(1) Includes common limited partner capital and general partner interests.

Summary of Impact of Topic 606 Adoption on Unaudited Condensed Consolidated Financial Statements

The following tables summarize the impact of Topic 606 adoption on our unaudited condensed consolidated financial statements.

 

Unaudited condensed consolidated balance sheet

 

 

June 30, 2018

 

 

 

As Reported

 

 

Balances Without Adoption of Topic 606

 

 

Effect of Change Increase / (Decrease)

 

 

 

(In thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

80,166

 

 

$

71,768

 

 

$

8,398

 

Property, plant and equipment, net

 

 

1,887,759

 

 

 

1,852,126

 

 

 

35,633

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue, current

 

 

10,778

 

 

 

4,071

 

 

 

6,707

 

Deferred revenue, noncurrent

 

 

38,119

 

 

 

11,133

 

 

 

26,986

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Partners' Capital (1)

 

 

932,236

 

 

 

921,898

 

 

 

10,338

 

________

(1) Includes common limited partner capital and general partner interests.

Unaudited condensed consolidated statement of operations

 

 

Three months ended June 30, 2018

 

 

 

As Reported

 

 

Balances Without Adoption of Topic 606

 

 

Effect of Change Increase / (Decrease)

 

 

 

(In thousands)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

Gathering services and related fees

 

$

89,585

 

 

$

86,892

 

 

$

2,693

 

Costs and expenses

 

 

 

 

 

 

 

 

 

 

 

 

Cost of natural gas and NGLs

 

 

24,384

 

 

 

27,559

 

 

 

(3,175

)

Depreciation and amortization

 

 

26,784

 

 

 

26,472

 

 

 

312

 

 

 

 

Six months ended June 30, 2018

 

 

 

As Reported

 

 

Balances Without Adoption of Topic 606

 

 

Effect of Change Increase / (Decrease)

 

 

 

(In thousands)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

Gathering services and related fees

 

$

173,946

 

 

$

172,195

 

 

$

1,751

 

Costs and expenses

 

 

 

 

 

 

 

 

 

 

 

 

Cost of natural gas and NGLs

 

 

44,670

 

 

 

51,161

 

 

 

(6,491

)

Depreciation and amortization

 

 

53,461

 

 

 

52,846

 

 

 

615

 

 


Unaudited condensed consolidated statement of cash flows

 

 

Six months ended June 30, 2018

 

 

 

As Reported

 

 

Balances Without Adoption of Topic 606

 

 

Effect of Change Increase / (Decrease)

 

 

 

(In thousands)

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(53,758

)

 

$

(61,385

)

 

$

7,627

 

Adjustments to reconcile net loss to net cash

    provided by operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

53,160

 

 

 

52,545

 

 

 

615

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(6,265

)

 

 

2,133

 

 

 

(8,398

)

Deferred revenue, net

 

 

3,281

 

 

 

3,125

 

 

 

156