Investments in Unconsolidated Affiliates (Tables)

12 Months Ended

Dec. 31, 2021

Investments in Unconsolidated Affiliates

Schedule of reconciliation of investments in unconsolidated affiliates

					Total Investment
			MarkWest		in Unconsolidated
(in thousands)	Stonewall			Joint Venture	Affiliates
Balance as of December 31, 2019	$	140,458		569,181		709,639
Additional investments		—		25,267		25,267
Equity in earnings of unconsolidated affiliates (1)		6,924		79,506		86,430
Distributions from unconsolidated affiliates		(9,750)		(89,108)		(98,858)
Balance as of December 31, 2020		137,632		584,846		722,478
Additional investments		—		2,070		2,070
Equity in earnings of unconsolidated affiliates (1)		6,560		83,891		90,451
Distributions from unconsolidated affiliates		(13,620)		(105,370)		(118,990)
Balance as of December 31, 2021	$	130,572		565,437		696,009

(1) As adjusted for the amortization of the difference between the cost of the equity investments in Stonewall and the Joint Venture and the amount of the underlying equity in the net assets of Stonewall and the Joint Venture as of the closing date of the Transaction.

Combined Balance Sheets

	December 31,
(in thousands)	2020		2021
Current assets	$	85,386		74,704
Noncurrent assets		1,652,196		1,602,093
Total assets	$	1,737,582		1,676,797
Current liabilities	$	9,242		8,375
Noncurrent liabilities		5,225		4,827
Noncontrolling interest		169,218		161,842
Partners' capital		1,553,897		1,501,753
Total liabilities and partners' capital	$	1,737,582		1,676,797

Statements of Combined Operations

	Year Ended December 31,
(in thousands)	2019		2020		2021
Revenues	$	254,868		321,880		333,565
Operating expenses		105,218		122,660		130,080
Income from operations		149,650		199,220		203,485
Net income attributable to unconsolidated affiliates, including noncontrolling interest		173,265		230,564		236,444
Net income attributable to unconsolidated affiliates		181,448		238,991		245,256