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Consolidated Statements of Cash Flows - WES Operating - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income (loss) $ 467,857 $ 632,841
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 288,118 273,618
Long-lived asset and other impairments [1] 52,635 90
Non-cash equity-based compensation expense 14,864 14,781
Deferred income taxes 855 1,920
Accretion and amortization of long-term obligations, net 4,095 3,586
Equity income, net – related parties (81,345) (98,071)
Distributions from equity-investment earnings – related parties 82,871 96,404
(Gain) loss on divestiture and other, net 2,188 780
(Gain) loss on early extinguishment of debt (6,813) (91)
Other 399 136
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable, net 41 (279,830)
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net (99,575) 82,909
Change in other items, net 67,057 14,366
Net cash provided by operating activities 793,247 743,439
Cash flows from investing activities    
Capital expenditures (334,570) (191,357)
Contributions to equity investments – related parties (132) (5,040)
Distributions from equity investments in excess of cumulative earnings – related parties 23,179 25,407
(Increase) decrease in materials and supplies inventory and other (19,145) (1,053)
Net cash used in investing activities (330,668) (170,947)
Cash flows from financing activities    
Borrowings, net of debt issuance costs 956,225 634,010
Repayments of debt (918,332) (883,548)
Increase (decrease) in outstanding checks (2,951) 13,038
Distributions to WES Operating unitholders [2] (533,556) (340,946)
Net contributions from (distributions to) related parties 0 784
Other (14,965) (9,184)
Net cash provided by (used in) financing activities (535,282) (677,057)
Net increase (decrease) in cash and cash equivalents (72,703) (104,565)
Cash and cash equivalents at beginning of period 286,656 201,999
Cash and cash equivalents at end of period 213,953 97,434
Supplemental disclosures    
Interest paid, net of capitalized interest 158,376 181,790
Income taxes paid (reimbursements received) 1,271 905
Accrued capital expenditures 116,466 51,878
Third Parties [Member]    
Cash flows from investing activities    
Proceeds from the sale of assets to third parties 0 1,096
Chipeta [Member]    
Cash flows from financing activities    
Distributions to Chipeta noncontrolling interest owner (3,470) (3,182)
WES Operating [Member]    
Cash flows from operating activities    
Net income (loss) 469,121 634,196
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 288,118 273,618
Long-lived asset and other impairments [3] 52,635 90
Non-cash equity-based compensation expense 14,577 14,505
Deferred income taxes 855 1,920
Accretion and amortization of long-term obligations, net 4,095 3,586
Equity income, net – related parties (81,345) (98,071)
Distributions from equity-investment earnings – related parties 82,871 96,404
(Gain) loss on divestiture and other, net 2,188 780
(Gain) loss on early extinguishment of debt (6,813) (91)
Other 399 136
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable, net 61 (279,830)
Increase (decrease) in accounts and imbalance payables and accrued liabilities, net (114,355) 74,551
Change in other items, net 67,490 14,889
Net cash provided by operating activities 779,897 736,683
Cash flows from investing activities    
Capital expenditures (334,570) (191,357)
Contributions to equity investments – related parties (132) (5,040)
Distributions from equity investments in excess of cumulative earnings – related parties 23,179 25,407
(Increase) decrease in materials and supplies inventory and other (19,145) (1,053)
Net cash used in investing activities (330,668) (170,947)
Cash flows from financing activities    
Borrowings, net of debt issuance costs 956,225 634,010
Repayments of debt (918,332) (883,548)
Increase (decrease) in outstanding checks (2,951) 13,142
Distributions to WES Operating unitholders [4] (556,408) (440,465)
Net contributions from (distributions to) related parties 0 784
Other (1,550) (2,177)
Net cash provided by (used in) financing activities (526,486) (681,436)
Net increase (decrease) in cash and cash equivalents (77,257) (115,700)
Cash and cash equivalents at beginning of period 286,101 195,598
Cash and cash equivalents at end of period 208,844 79,898
Supplemental disclosures    
Interest paid, net of capitalized interest 158,376 181,790
Income taxes paid (reimbursements received) 1,271 905
Accrued capital expenditures 116,466 51,878
WES Operating [Member] | Third Parties [Member]    
Cash flows from investing activities    
Proceeds from the sale of assets to third parties 0 1,096
WES Operating [Member] | Chipeta [Member]    
Cash flows from financing activities    
Distributions to Chipeta noncontrolling interest owner $ (3,470) $ (3,182)
[1] See Note 7.
[2] Includes related-party amounts. See Note 5.
[3] See Note 7.
[4] Includes related-party amounts. See Note 5