Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Financial Data for Each Reportable Segment

The following tables reflect certain financial data for each reportable segment:

	Gathering		Processing and Storage		Terminaling and Export		Total Reportable Segments		Interest and Other		Consolidated
(in millions)
For the Year Ended December 31, 2024
Revenues and other income	$	799.1	$	577.7	$	118.7	$	1,495.5	$	-	$	1,495.5
Operating and maintenance expenses    (exclusive of depreciation shown    separately below)		203.5		112.9		30.9		347.3		-		347.3
Depreciation expense		126.7		59.1		17.3		203.1		-		203.1
General and administrative expenses		10.3		5.3		1.0		16.6		9.5		26.1
Income from equity investments		-		14.0		-		14.0		-		14.0
Interest expense, net		-		-		-		-		202.2		202.2
Income tax expense		-		-		-		-		71.8		71.8
Adjusted EBITDA		585.3		473.5		86.8		1,145.6
Capital expenditures		270.2		17.6		0.7		288.5
	Gathering		Processing and Storage		Terminaling and Export		Total Reportable Segments		Interest and Other		Consolidated
(in millions)
For the Year Ended December 31, 2023
Revenues and other income	$	730.0	$	501.7	$	116.9	$	1,348.6	$	-	$	1,348.6
Operating and maintenance expenses    (exclusive of depreciation shown    separately below)		185.3		99.0		28.7		313.0		-		313.0
Depreciation expense		115.6		59.9		17.0		192.5		-		192.5
General and administrative expenses		10.9		5.3		1.3		17.5		8.7		26.2
Income from equity investments		-		7.7		-		7.7		-		7.7
Interest expense, net		-		-		-		-		179.0		179.0
Income tax expense		-		-		-		-		37.9		37.9
Adjusted EBITDA		533.8		405.1		86.9		1,025.8
Capital expenditures		224.5		11.2		10.0		245.7
	Gathering		Processing and Storage		Terminaling and Export		Total Reportable Segments		Interest and Other		Consolidated
(in millions)
For the Year Ended December 31, 2022
Revenues and other income	$	677.9	$	470.8	$	126.5	$	1,275.2	$	-	$	1,275.2
Operating and maintenance expenses    (exclusive of depreciation shown    separately below)		170.2		85.0		24.4		279.6		-		279.6
Depreciation expense		107.4		57.7		16.2		181.3		-		181.3
General and administrative expenses		10.7		4.3		0.9		15.9		7.2		23.1
Income from equity investments		-		5.3		-		5.3		-		5.3
Interest expense, net		-		-		-		-		149.3		149.3
Income tax expense		-		-		-		-		26.6		26.6
Adjusted EBITDA		497.0		386.8		101.2		985.0
Capital expenditures		210.2		8.8		12.8		231.8

Reconciliation of Reportable Segment Adjusted EBITDA to Income Before Income Tax Expense

The following table presents a reconciliation of reportable segment Adjusted EBITDA to income before income tax expense:

	Year Ended December 31,
(in millions)	2024		2023		2022
Reconciliation of reportable segment Adjusted    EBITDA to income before income tax expense:
Total reportable segment Adjusted EBITDA	$	1,145.6	$	1,025.8	$	985.0
Less:
Depreciation expense		203.1		192.5		181.3
Unallocated general and administrative expenses		9.5		8.7		7.2
Interest expense, net		202.2		179.0		149.3
Income before income tax expense	$	730.8	$	645.6	$	647.2

Total Assets for Reportable Segments

Total assets for reportable segments are as follows:

	December 31, 2024		December 31, 2023
(in millions)
Gathering	$	2,299.0	$	2,138.6
Processing and Storage(1)		1,010.9		1,048.4
Terminaling and Export		248.1		264.4
Total reportable segments assets		3,558.0		3,451.4
Interest and Other		593.0		338.1
Total consolidated assets	$	4,151.0	$	3,789.5

(1)Includes investment in equity investees of $87.0 million as of December 31, 2024 and $90.2 million as of December 31, 2023.