XML 45 R33.htm IDEA: XBRL DOCUMENT v3.22.2
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:

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Three Months Ended June 30, 2021

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​

​

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

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General and administrative

​

​

8,734

​

​

4,873

​

​

644

​

​

14,251

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Facility idling

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​

—

​

​

984

​

​

—

​

​

984

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Depreciation

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​

14,404

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​

12,215

​

​

—

​

​

26,619

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Accretion of asset retirement obligations

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​

—

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​

114

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—

​

​

114

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Gain on asset sale

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​

(135)

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​

—

​

​

—

​

​

(135)

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Total operating expenses

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​

40,015

​

​

40,729

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​

644

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​

81,388

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Operating income

​

$

143,381

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​

8,662

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​

(644)

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​

151,399

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​

​

​

​

​

​

​

​

​

​

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Equity in earnings of unconsolidated affiliates

​

$

21,515

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​

—

​

​

—

​

​

21,515

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Additions to property and equipment

​

$

36,599

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​

9,377

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​

—

​

​

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.

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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

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Revenue–third-party

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​

—

​

​

242

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​

—

​

​

242

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Amortization of customer relationships

​

​

(9,272)

​

​

(8,396)

​

​

—

​

​

(17,668)

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Total revenues

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​

174,799

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​

54,108

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​

—

​

​

228,907

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Operating expenses:

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​

​

​

​

​

​

​

​

​

​

​

​

Direct operating

​

​

19,343

​

​

23,956

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​

—

​

​

43,299

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General and administrative

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​

10,490

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​

3,849

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​

1,740

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​

16,079

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Facility idling

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​

—

​

​

1,185

​

​

—

​

​

1,185

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Depreciation

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​

22,854

​

​

12,821

​

​

—

​

​

35,675

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Impairment of property and equipment

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​

1,130

​

​

2,572

​

​

—

​

​

3,702

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Accretion of asset retirement obligations

​

​

—

​

​

64

​

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—

​

​

64

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Loss on settlement of asset retirement obligations

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​

—

​

​

539

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​

—

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​

539

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Gain on asset sale

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​

(32)

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​

—

​

​

—

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​

(32)

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Total operating expenses

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​

53,785

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​

44,986

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​

1,740

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​

100,511

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Operating income

​

$

121,014

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​

9,122

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(1,740)

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​

128,396

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​

​

​

​

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Equity in earnings of unconsolidated affiliates

​

$

22,824

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​

—

​

​

—

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​

22,824

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Additions to property and equipment, net

​

$

60,931

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​

16,836

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​

—

​

​

77,767

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​

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

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Six Months Ended June 30, 2021

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​

​

Gathering and

​

Water

​

​

​

Consolidated

​

(in thousands)

    

Processing

    

Handling

    

Unallocated (1)

​

Total

​

Revenues:

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue–Antero Resources

​

$

377,828

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​

114,321

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​

—

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​

492,149

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Revenue–third-party

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​

—

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​

95

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—

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​

95

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Amortization of customer relationships

​

​

(18,542)

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​

(16,794)

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​

—

​

​

(35,336)

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Total revenues

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​

359,286

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​

97,622

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—

​

​

456,908

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Operating expenses:

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​

​

​

​

​

​

​

​

​

​

​

​

Direct operating

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​

34,248

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​

44,621

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​

—

​

​

78,869

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General and administrative

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​

17,383

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​

12,553

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​

2,245

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​

32,181

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Facility idling

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​

—

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​

2,163

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—

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​

2,163

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Depreciation

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​

29,117

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​

24,352

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—

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​

53,469

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Impairment of property and equipment

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​

1,218

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​

161

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—

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1,379

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Accretion of asset retirement obligations

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​

—

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​

233

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—

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233

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Loss on asset sale

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​

3,628

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—

​

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—

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​

3,628

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Total operating expenses

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​

85,594

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​

84,083

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​

2,245

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​

171,922

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Operating income

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$

273,692

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​

13,539

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(2,245)

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284,986

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Equity in earnings of unconsolidated affiliates

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$

42,259

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—

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—

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​

42,259

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Additions to property and equipment

​

$

51,658

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​

22,707

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—

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​

74,365

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

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​

Six Months Ended June 30, 2022

​

​

​

Gathering and

​

Water

​

​

​

Consolidated

​

(in thousands)

    

Processing

    

Handling

    

Unallocated (1)

​

Total

​

Revenues:

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue–Antero Resources

​

$

366,514

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​

115,583

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​

—

​

​

482,097

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Revenue–third-party

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​

—

​

​

637

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—

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​

637

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Amortization of customer relationships

​

​

(18,543)

​

​

(16,793)

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​

—

​

​

(35,336)

​

Total revenues

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​

347,971

​

​

99,427

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​

—

​

​

447,398

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Operating expenses:

​

​

​

​

​

​

​

​

​

​

​

​

​

Direct operating

​

​

36,525

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​

48,786

​

​

—

​

​

85,311

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General and administrative

​

​

20,191

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​

10,590

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​

3,229

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​

34,010

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Facility idling

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​

—

​

​

2,333

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—

​

​

2,333

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Depreciation

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​

38,661

​

​

25,314

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—

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​

63,975

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Impairment of property and equipment

​

​

1,130

​

​

2,572

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​

—

​

​

3,702

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Accretion of asset retirement obligations

​

​

—

​

​

128

​

​

—

​

​

128

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Loss on settlement of asset retirement obligations

​

​

—

​

​

539

​

​

—

​

​

539

​

Gain on asset sale

​

​

(63)

​

​

(87)

​

​

—

​

​

(150)

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Total operating expenses

​

​

96,444

​

​

90,175

​

​

3,229

​

​

189,848

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Operating income

​

$

251,527

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​

9,252

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​

(3,229)

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​

257,550

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​

​

​

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​

​

​

​

​

​

​

​

​

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Equity in earnings of unconsolidated affiliates

​

$

46,056

​

​

—

​

​

—

​

​

46,056

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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:

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(Unaudited)

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​

​

​

​

​

​

​

​

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.