Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Summarized financial information for our reportable segments is shown in the following tables (in millions):


	Permian		Louisiana		Oklahoma		North Texas		Corporate		Totals
Year Ended December 31, 2021
Natural gas sales	$	609.4	$	693.5	$	213.4	$	150.0	$	—	$	1,666.3
NGL sales	0.9		3,353.1		2.0		1.1		—		3,357.1
Crude oil and condensate sales	677.4		212.0		81.2		—		—		970.6

Product sales	1,287.7		4,258.6		296.6		151.1		—		5,994.0

NGL sales—related parties	1,008.4		129.7		630.8		447.0		(2,215.9)		—
Crude oil and condensate sales—related parties	—		—		0.1		7.1		(7.2)		—
Product sales—related parties	1,008.4		129.7		630.9		454.1		(2,223.1)		—
Gathering and transportation	46.8		64.7		186.9		157.0		—		455.4
Processing	29.1		2.4		98.7		108.3		—		238.5
NGL services	—		82.6		—		0.3		—		82.9
Crude services	18.4		39.3		12.8		0.7		—		71.2
Other services	0.2		1.7		0.6		0.5		—		3.0
Midstream services	94.5		190.7		299.0		266.8		—		851.0



Crude services—related parties	—		—		0.3		—		(0.3)		—
Other services—related parties	—		2.4		—		—		(2.4)		—
Midstream services—related parties	—		2.4		0.3		—		(2.7)		—
Revenue from contracts with customers	2,390.6		4,581.4		1,226.8		872.0		(2,225.8)		6,845.0
Cost of sales, exclusive of operating expenses and depreciation and amortization (1)	(1,996.1)		(4,091.2)		(796.6)		(531.8)		2,225.8		(5,189.9)
Realized loss on derivatives	(75.6)		(42.3)		(22.6)		(6.2)		—		(146.7)
Change in fair value of derivatives	(7.7)		0.7		—		(5.4)		—		(12.4)
Adjusted gross margin	311.2		448.6		407.6		328.6		—		1,496.0
Operating expenses	(81.5)		(123.7)		(80.0)		(77.7)		—		(362.9)
Segment profit	229.7		324.9		327.6		250.9		—		1,133.1
Depreciation and amortization	(139.9)		(141.0)		(204.3)		(114.3)		(8.0)		(607.5)
Impairments	—		(0.6)		—		—		(0.2)		(0.8)
Gain on disposition of assets	—		1.2		—		0.3		—		1.5
General and administrative	—		—		—		—		(107.8)		(107.8)

Interest expense, net of interest income	—		—		—		—		(238.7)		(238.7)

Loss from unconsolidated affiliates	—		—		—		—		(11.5)		(11.5)

Income (loss) before non-controlling interest and income taxes	$	89.8	$	184.5	$	123.3	$	136.9	$	(366.2)	$	168.3

Capital expenditures	$	141.6	$	9.3	$	30.4	$	11.9	$	2.8	$	196.0

____________________________

(1)Includes related party cost of sales of $17.9 million for the year ended December 31, 2021.


	Permian		Louisiana		Oklahoma		North Texas		Corporate		Totals
Year Ended December 31, 2020
Natural gas sales	$	150.1	$	330.5	$	153.1	$	70.3	$	—	$	704.0
NGL sales	0.2		1,545.4		2.8		—		—		1,548.4
Crude oil and condensate sales	558.1		126.7		40.3		—		—		725.1

Product sales	708.4		2,002.6		196.2		70.3		—		2,977.5

NGL sales—related parties	312.6		31.4		296.4		115.2		(755.6)		—
Crude oil and condensate sales—related parties	0.6		—		(0.1)		3.6		(4.1)		—
Product sales—related parties	313.2		31.4		296.3		118.8		(759.7)		—
Gathering and transportation	42.8		46.5		228.7		179.2		—		497.2
Processing	24.1		2.0		123.6		132.6		—		282.3
NGL services	—		75.8		—		0.2		—		76.0
Crude services	16.8		45.2		16.5		0.2		—		78.7
Other services	1.2		1.6		0.4		0.9		—		4.1
Midstream services	84.9		171.1		369.2		313.1		—		938.3



Crude services—related parties	—		—		0.3		—		(0.3)		—

Midstream services—related parties	—		—		0.3		—		(0.3)		—
Revenue from contracts with customers	1,106.5		2,205.1		862.0		502.2		(760.0)		3,915.8
Cost of sales, exclusive of operating expenses and depreciation and amortization (1)	(842.2)		(1,787.0)		(365.5)		(153.8)		760.0		(2,388.5)
Realized loss on derivatives	(1.1)		(6.0)		(4.4)		—		—		(11.5)
Change in fair value of derivatives	1.1		(6.5)		(4.5)		(0.6)		—		(10.5)
Adjusted gross margin	264.3		405.6		487.6		347.8		—		1,505.3
Operating expenses	(94.2)		(120.0)		(82.2)		(77.4)		—		(373.8)
Segment profit	170.1		285.6		405.4		270.4		—		1,131.5
Depreciation and amortization	(125.2)		(145.8)		(216.9)		(143.4)		(7.3)		(638.6)
Impairments	(184.6)		(170.0)		(0.7)		—		(7.5)		(362.8)
Gain (loss) on disposition of assets	(11.2)		0.1		0.3		2.0		—		(8.8)
General and administrative	—		—		—		—		(103.3)		(103.3)

Interest expense, net of interest income	—		—		—		—		(223.3)		(223.3)
Gain on extinguishment of debt	—		—		—		—		32.0		32.0
Income from unconsolidated affiliates	—		—		—		—		0.6		0.6
Other income	—		—		—		—		0.3		0.3
Income (loss) before non-controlling interest and income taxes	$	(150.9)	$	(30.1)	$	188.1	$	129.0	$	(308.5)	$	(172.4)

Capital expenditures	$	181.1	$	44.6	$	17.9	$	16.9	$	2.1	$	262.6

____________________________

(1)Includes related party cost of sales of $8.7 million for the year ended December 31, 2020.


	Permian		Louisiana		Oklahoma		North Texas		Corporate		Totals
Year Ended December 31, 2019
Natural gas sales	$	94.3	$	416.6	$	236.4	$	129.3	$	—	$	876.6
NGL sales	0.9		1,725.6		19.6		30.9		—		1,777.0
Crude oil and condensate sales	1,975.0		291.9		109.6		—		—		2,376.5

Product sales	2,070.2		2,434.1		365.6		160.2		—		5,030.1
Natural gas sales—related parties	0.4		—		—		—		(0.4)		—
NGL sales—related parties	347.7		25.7		421.1		94.8		(889.3)		—
Crude oil and condensate sales—related parties	13.5		1.7		—		5.5		(20.7)		—
Product sales—related parties	361.6		27.4		421.1		100.3		(910.4)		—
Gathering and transportation	48.8		58.3		234.5		196.4		—		538.0
Processing	30.5		3.2		138.2		143.0		—		314.9
NGL services	—		50.6		—		0.1		—		50.7
Crude services	19.2		51.9		19.8		—		—		90.9
Other services	12.0		0.7		0.1		1.1		—		13.9
Midstream services	110.5		164.7		392.6		340.6		—		1,008.4


NGL services—related parties	—		(3.4)		—		—		3.4		—
Crude services—related parties	—		—		1.8		—		(1.8)		—

Midstream services—related parties	—		(3.4)		1.8		—		1.6		—
Revenue from contracts with customers	2,542.3		2,622.8		1,181.1		601.1		(908.8)		6,038.5
Cost of sales, exclusive of operating expenses and depreciation and amortization (1)	(2,283.9)		(2,181.6)		(627.0)		(208.8)		908.8		(4,392.5)
Realized gain on derivatives	9.4		5.1		—		—		—		14.5
Change in fair value of derivatives	1.5		(1.8)		—		0.2		—		(0.1)
Adjusted gross margin	269.3		444.5		554.1		392.5		—		1,660.4
Operating expenses	(112.9)		(147.3)		(104.0)		(102.9)		—		(467.1)
Segment profit	156.4		297.2		450.1		289.6		—		1,193.3
Depreciation and amortization	(119.8)		(154.1)		(194.9)		(139.8)		(8.4)		(617.0)
Impairments	(3.5)		(188.7)		(813.5)		(127.8)		—		(1,133.5)
Gain (loss) on disposition of assets	(0.3)		2.6		0.1		(0.5)		—		1.9
General and administrative	—		—		—		—		(152.6)		(152.6)
Loss on secured term loan receivable	—		—		—		—		(52.9)		(52.9)
Interest expense, net of interest income	—		—		—		—		(216.0)		(216.0)

Loss from unconsolidated affiliates	—		—		—		—		(16.8)		(16.8)
Other income	—		—		—		—		0.9		0.9
Income (loss) before non-controlling interest and income taxes	$	32.8	$	(43.0)	$	(558.2)	$	21.5	$	(445.8)	$	(992.7)
Capital expenditures	$	364.5	$	99.9	$	238.1	$	39.0	$	6.9	$	748.4

____________________________

(1)Includes related party cost of sales of $21.7 million for the year ended December 31, 2019.

Schedule of Segment Assets

The table below represents information about segment assets as of December 31, 2021 and 2020 (in millions):


Segment Identifiable Assets:	December 31, 2021		December 31, 2020
Permian	$	2,358.6	$	2,236.3
Louisiana	2,428.6		2,312.4
Oklahoma	2,619.5		2,847.6
North Texas	896.8		1,008.6
Corporate (1)	179.7		146.0
Total identifiable assets	$	8,483.2	$	8,550.9

____________________________

(1)Accounts receivable and accrued revenue sold to the SPV for collateral under the AR Facility are included within the Permian, Louisiana, Oklahoma, and North Texas segments.