Investments in Unconsolidated Affiliates (Tables)

12 Months Ended

Dec. 31, 2022

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, 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
Equity in earnings of unconsolidated affiliates (1)		7,558		86,660		94,218
Distributions from unconsolidated affiliates		(12,015)		(108,445)		(120,460)
Return of investment in unconsolidated affiliate		—		(17,000)		(17,000)
Balance as of December 31, 2022	$	126,115		526,652		652,767

(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 March 12, 2019.

Combined Balance Sheets

	December 31,
(in thousands)	2021		2022
Current assets	$	74,704		74,852
Noncurrent assets		1,602,093		1,517,349
Total assets	$	1,676,797		1,592,201
Current liabilities	$	8,375		5,453
Noncurrent liabilities		4,827		4,427
Noncontrolling interest		161,842		154,100
Partners' capital		1,501,753		1,428,221
Total liabilities and partners' capital	$	1,676,797		1,592,201

Statements of Combined Operations

	Year Ended December 31,
(in thousands)	2020		2021		2022
Revenues	$	321,880		333,565		357,730
Operating expenses		122,660		130,080		153,383
Income from operations		199,220		203,485		204,347
Net income attributable to unconsolidated affiliates, including noncontrolling interest		230,564		236,444		248,458
Net income attributable to unconsolidated affiliates		238,991		245,256		257,458