Investments in Unconsolidated Affiliates (Tables)

12 Months Ended

Dec. 31, 2023

Investments in Unconsolidated Affiliates

Schedule of reconciliation of investments in unconsolidated affiliates

					Total Investment
					in Unconsolidated
(in thousands)	Joint Venture		Stonewall		Affiliates
Balance as of December 31, 2021	$	565,437		130,572		696,009
Equity in earnings of unconsolidated affiliates (1)		86,660		7,558		94,218
Distributions from unconsolidated affiliates		(108,445)		(12,015)		(120,460)
Return of investment in unconsolidated affiliate		(17,000)		—		(17,000)
Balance as of December 31, 2022		526,652		126,115		652,767
Additional investments		—		262		262
Equity in earnings of unconsolidated affiliates (1)		98,194		7,262		105,456
Distributions from unconsolidated affiliates		(116,025)		(15,810)		(131,835)
Balance as of December 31, 2023	$	508,821		117,829		626,650

(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)	2022		2023
Current assets	$	74,852		68,894
Noncurrent assets		1,517,349		1,460,004
Total assets	$	1,592,201		1,528,898
Current liabilities	$	5,453		7,711
Noncurrent liabilities		4,427		4,028
Noncontrolling interest		154,100		146,094
Partners' capital		1,428,221		1,371,065
Total liabilities and partners' capital	$	1,592,201		1,528,898

Statements of Combined Operations

	Year Ended December 31,
(in thousands)	2021		2022		2023
Revenues	$	333,565		357,730		388,717
Operating expenses		130,080		153,383		156,678
Income from operations		203,485		204,347		232,039
Net income attributable to unconsolidated affiliates, including noncontrolling interest		236,444		248,458		269,471
Net income attributable to unconsolidated affiliates		245,256		257,458		278,545