Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2022
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated (1)		Total
Revenues:
Revenue–Antero Resources	$	182,443		53,321		—		235,764
Revenue–third-party		—		395		—		395
Amortization of customer relationships		(9,271)		(8,397)		—		(17,668)
Total revenues		173,172		45,319		—		218,491
Operating expenses:
Direct operating		17,182		24,830		—		42,012
General and administrative		9,701		6,741		1,489		17,931
Facility idling		—		1,148		—		1,148
Depreciation		15,807		12,493		—		28,300
Accretion of asset retirement obligations		—		64		—		64
Gain on asset sale		(31)		(87)		—		(118)
Total operating expenses		42,659		45,189		1,489		89,337
Operating income	$	130,513		130		(1,489)		129,154
Equity in earnings of unconsolidated affiliates	$	23,232		—		—		23,232
Additions to property and equipment	$	70,734		13,533		—		84,267

(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 March 31, 2023
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated (1)		Total
Revenues:
Revenue–Antero Resources	$	199,576		77,295		—		276,871
Revenue–third-party		—		272		—		272
Amortization of customer relationships		(9,271)		(8,397)		—		(17,668)
Total revenues		190,305		69,170		—		259,475
Operating expenses:
Direct operating		24,118		33,755		—		57,873
General and administrative		10,180		6,208		959		17,347
Facility idling		—		574		—		574
Depreciation		22,063		13,133		—		35,196
Accretion of asset retirement obligations		—		44		—		44
Loss on settlement of asset retirement obligations		—		341		—		341
Gain on asset sale		(242)		(3)		—		(245)
Total operating expenses		56,119		54,052		959		111,130
Operating income	$	134,186		15,118		(959)		148,345
Equity in earnings of unconsolidated affiliates	$	24,456		—		—		24,456
Additions to property and equipment, net	$	29,197		13,760		—		42,957

(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,		March 31,
(in thousands)	2022		2023
Gathering and Processing	$	4,711,069		4,692,529
Water Handling		1,079,297		1,076,653
Unallocated (1)		954		1,345
Total assets	$	5,791,320		5,770,527

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