XML 46 R36.htm IDEA: XBRL DOCUMENT v3.19.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Summary of Financial Information
Summarized financial information for our reportable segments is shown in the following tables (in millions):
 
Permian
 
North Texas
 
Oklahoma
 
Louisiana
 
Corporate
 
Totals
Three Months Ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
Natural gas sales
$
36.1

 
$
50.6

 
$
61.6

 
$
122.2

 
$
—

 
$
270.5

NGL sales
(0.2
)
 
9.3

 
8.9

 
573.1

 
—

 
591.1

Crude oil and condensate sales
580.8

 
—

 
29.6

 
58.8

 
—

 
669.2

Other
—

 
—

 
0.1

 
—

 
—

 
0.1

Product sales
616.7

 
59.9

 
100.2

 
754.1

 
—

 
1,530.9

NGL sales—related parties
97.2

 
28.5

 
126.1

 
3.2

 
(255.0
)
 
—

Crude oil and condensate sales—related parties
4.0

 
1.0

 
—

 
—

 
(5.0
)
 
—

Product sales—related parties
101.2

 
29.5

 
126.1

 
3.2

 
(260.0
)
 
—

Gathering and transportation
10.3

 
63.6

 
55.3

 
17.2

 
—

 
146.4

Processing
7.7

 
21.1

 
34.1

 
0.9

 
—

 
63.8

NGL services
—

 
—

 
—

 
11.7

 
—

 
11.7

Crude services
5.2

 
—

 
4.0

 
13.8

 
—

 
23.0

Other services
1.5

 
0.2

 
(0.3
)
 
0.2

 
—

 
1.6

Midstream services
24.7

 
84.9

 
93.1

 
43.8

 
—

 
246.5

NGL services—related parties
—

 
—

 
—

 
(3.0
)
 
3.0

 
—

Crude services—related parties
—

 
—

 
0.3

 
—

 
(0.3
)
 
—

Midstream services—related parties
—

 
—

 
0.3

 
(3.0
)
 
2.7

 
—

Revenue from contracts with customers
742.6

 
174.3

 
319.7

 
798.1

 
(257.3
)
 
1,777.4

Cost of sales
(676.2
)
 
(73.7
)
 
(184.2
)
 
(686.6
)
 
257.3

 
(1,363.4
)
Operating expenses
(27.8
)
 
(25.7
)
 
(25.4
)
 
(35.6
)
 
—

 
(114.5
)
Gain on derivative activity
—

 
—

 
—

 
—

 
1.8

 
1.8

Segment profit
$
38.6

 
$
74.9

 
$
110.1

 
$
75.9

 
$
1.8

 
$
301.3

Depreciation and amortization
$
(27.9
)
 
$
(34.3
)
 
$
(46.1
)
 
$
(41.8
)
 
$
(2.0
)
 
$
(152.1
)
Impairments
$
—

 
$
—

 
$
—

 
$
(186.5
)
 
$
—

 
$
(186.5
)
Goodwill
$
184.6

 
$
125.7

 
$
813.4

 
$
—

 
$
—

 
$
1,123.7

Capital expenditures
$
95.9

 
$
4.3

 
$
108.2

 
$
41.0

 
$
1.6

 
$
251.0


 
Permian
 
North Texas
 
Oklahoma
 
Louisiana
 
Corporate
 
Totals
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Natural gas sales
$
37.7

 
$
45.3

 
$
48.1

 
$
125.0

 
$
—

 
$
256.1

NGL sales
0.5

 
—

 
1.9

 
608.4

 
—

 
610.8

Crude oil and condensate sales
577.2

 
—

 
21.9

 
33.2

 
—

 
632.3

Product sales
615.4

 
45.3

 
71.9

 
766.6

 
—

 
1,499.2

Natural gas sales—related parties
—

 
—

 
0.5

 
—

 
—

 
0.5

NGL sales—related parties
83.9

 
9.0

 
100.1

 
5.6

 
(196.2
)
 
2.4

Crude oil and condensate sales—related parties
1.5

 
0.4

 
0.4

 
0.1

 
(1.7
)
 
0.7

Product sales—related parties
85.4

 
9.4

 
101.0

 
5.7

 
(197.9
)
 
3.6

Gathering and transportation
6.2

 
7.8

 
15.6

 
17.6

 
—

 
47.2

Processing
3.8

 
—

 
9.0

 
0.6

 
—

 
13.4

NGL services
—

 
—

 
—

 
16.6

 
—

 
16.6

Crude services
—

 
—

 
0.1

 
12.8

 
—

 
12.9

Other services
1.7

 
0.3

 
0.1

 
—

 
—

 
2.1

Midstream services
11.7

 
8.1

 
24.8

 
47.6

 
—

 
92.2

Gathering and transportation—related parties
—

 
52.6

 
34.7

 
—

 
—

 
87.3

Processing—related parties
—

 
51.6

 
22.1

 
—

 
—

 
73.7

Crude services—related parties
4.3

 
—

 
0.7

 
—

 
—

 
5.0

Other services—related parties
—

 
—

 
0.2

 
—

 
—

 
0.2

Midstream services—related parties
4.3

 
104.2

 
57.7

 
—

 
—

 
166.2

 Revenue from contracts with customers
716.8

 
167.0

 
255.4

 
819.9

 
(197.9
)
 
1,761.2

Cost of sales
(674.1
)
 
(49.9
)
 
(139.3
)
 
(716.1
)
 
197.9

 
(1,381.5
)
Operating expenses
(23.8
)
 
(28.4
)
 
(20.7
)
 
(36.3
)
 
—

 
(109.2
)
Gain on derivative activity
—

 
—

 
—

 
—

 
0.5

 
0.5

Segment profit
$
18.9

 
$
88.7

 
$
95.4

 
$
67.5

 
$
0.5

 
$
271.0

Depreciation and amortization
$
(26.8
)
 
$
(31.3
)
 
$
(42.1
)
 
$
(35.9
)
 
$
(2.0
)
 
$
(138.1
)
Goodwill
$
29.3

 
$
202.7

 
$
190.3

 
$
—

 
$
1,119.9

 
$
1,542.2

Capital expenditures
$
63.6

 
$
2.5

 
$
103.9

 
$
10.0

 
$
1.2

 
$
181.2
Reconciliation of Profits to Operating Income (Loss)
The following table reconciles the segment profits reported above to the operating income (loss) as reported on the consolidated statements of operations (in millions):
 
Three Months Ended March 31,
 
2019
 
2018
Segment profit
$
301.3

 
$
271.0

General and administrative expenses
(51.4
)
 
(27.5
)
Loss on disposition of assets
—

 
(0.1
)
Depreciation and amortization
(152.1
)
 
(138.1
)
Impairments
(186.5
)
 
—

Operating income (loss)
$
(88.7
)
 
$
105.3
Schedule of Segment Assets
The table below represents information about segment assets as of March 31, 2019 and December 31, 2018 (in millions):
Segment Identifiable Assets:
 
March 31, 2019
 
December 31, 2018
Permian
 
$
2,382.6

 
$
2,096.8

North Texas
 
1,365.2

 
1,308.2

Oklahoma
 
3,906.6

 
3,209.5

Louisiana
 
2,626.8

 
2,734.5

Corporate
 
225.6

 
1,345.1

Total identifiable assets
 
$
10,506.8

 
$
10,694.1