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Reportable Segments (Tables)
6 Months Ended
Jun. 30, 2022
Reportable Segments  
Schedule of operating results and assets of the Company's reportable segments

The summarized operating results of the Company’s reportable segments are as follows:

Three Months Ended June 30, 2021

Gathering and

Water

Consolidated

(in thousands)

  

Processing

  

Handling

  

Unallocated (1)

  

Total

Revenues:

Revenue–Antero Resources

$

192,667

57,718

250,385

Revenue–third-party

70

70

Amortization of customer relationships

(9,271)

(8,397)

(17,668)

Total revenues

183,396

49,391

232,787

Operating expenses:

Direct operating

17,012

22,543

39,555

General and administrative

8,734

4,873

644

14,251

Facility idling

984

984

Depreciation

14,404

12,215

26,619

Accretion of asset retirement obligations

114

114

Gain on asset sale

(135)

(135)

Total operating expenses

40,015

40,729

644

81,388

Operating income

$

143,381

8,662

(644)

151,399

Equity in earnings of unconsolidated affiliates

$

21,515

21,515

Additions to property and equipment

$

36,599

9,377

45,976

(1)Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.

Three Months Ended June 30, 2022

Gathering and

Water

Consolidated

(in thousands)

   

Processing

   

Handling

   

Unallocated (1)

  

Total

Revenues:

Revenue–Antero Resources

$

184,071

62,262

246,333

Revenue–third-party

242

242

Amortization of customer relationships

(9,272)

(8,396)

(17,668)

Total revenues

174,799

54,108

228,907

Operating expenses:

Direct operating

19,343

23,956

43,299

General and administrative

10,490

3,849

1,740

16,079

Facility idling

1,185

1,185

Depreciation

22,854

12,821

35,675

Impairment of property and equipment

1,130

2,572

3,702

Accretion of asset retirement obligations

64

64

Loss on settlement of asset retirement obligations

539

539

Gain on asset sale

(32)

(32)

Total operating expenses

53,785

44,986

1,740

100,511

Operating income

$

121,014

9,122

(1,740)

128,396

Equity in earnings of unconsolidated affiliates

$

22,824

22,824

Additions to property and equipment, net

$

60,931

16,836

77,767

(1)Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.

Six Months Ended June 30, 2021

Gathering and

Water

Consolidated

(in thousands)

    

Processing

    

Handling

    

Unallocated (1)

Total

Revenues:

Revenue–Antero Resources

$

377,828

114,321

492,149

Revenue–third-party

95

95

Amortization of customer relationships

(18,542)

(16,794)

(35,336)

Total revenues

359,286

97,622

456,908

Operating expenses:

Direct operating

34,248

44,621

78,869

General and administrative

17,383

12,553

2,245

32,181

Facility idling

2,163

2,163

Depreciation

29,117

24,352

53,469

Impairment of property and equipment

1,218

161

1,379

Accretion of asset retirement obligations

233

233

Loss on asset sale

3,628

3,628

Total operating expenses

85,594

84,083

2,245

171,922

Operating income

$

273,692

13,539

(2,245)

284,986

Equity in earnings of unconsolidated affiliates

$

42,259

42,259

Additions to property and equipment

$

51,658

22,707

74,365

(1)Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.

Six Months Ended June 30, 2022

Gathering and

Water

Consolidated

(in thousands)

    

Processing

    

Handling

    

Unallocated (1)

Total

Revenues:

Revenue–Antero Resources

$

366,514

115,583

482,097

Revenue–third-party

637

637

Amortization of customer relationships

(18,543)

(16,793)

(35,336)

Total revenues

347,971

99,427

447,398

Operating expenses:

Direct operating

36,525

48,786

85,311

General and administrative

20,191

10,590

3,229

34,010

Facility idling

2,333

2,333

Depreciation

38,661

25,314

63,975

Impairment of property and equipment

1,130

2,572

3,702

Accretion of asset retirement obligations

128

128

Loss on settlement of asset retirement obligations

539

539

Gain on asset sale

(63)

(87)

(150)

Total operating expenses

96,444

90,175

3,229

189,848

Operating income

$

251,527

9,252

(3,229)

257,550

Equity in earnings of unconsolidated affiliates

$

46,056

46,056

Additions to property and equipment, net

$

131,665

30,369

162,034

(1)Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.

The summarized total assets of the Company’s reportable segments are as follows:

(Unaudited)

December 31,

June 30,

(in thousands)

2021

2022

Gathering and Processing

$

4,450,939

4,503,022

Water Handling

1,092,122

1,081,276

Unallocated (1)

940

1,203

Total assets

$

5,544,001

5,585,501

(1)Certain assets that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.