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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income including noncontrolling interests [1] $ 21,389 $ 18,136
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense [1] 61,023 55,971
Amortization of deferred financing costs 3,389 3,305
Amortization of contract costs 448 448
Distributions from unconsolidated affiliates 48,073 8,203
Derivatives settlement (884) (1,465)
Derivatives fair value adjustment (8,745) 10,593
Gain on redemption of mandatorily redeemable Preferred Units (4,493) 0
Loss on disposal of assets [1] 110 32
Equity in (earnings) losses from unconsolidated affiliate [1] (27,917) (11,355)
Loss (gain) on debt extinguishment 129 (239)
Share-based compensation 6,132 0
Deferred income taxes 676 0
Change in operating assets and liabilities:    
Accounts receivable (67,446) (69,376)
Other assets (456) (9,653)
Operating lease right-of-use assets 4,667 8,190
Accounts payable (6,766) 8,525
Accrued liabilities 73,961 27,524
Operating lease liabilities (4,897) (7,245)
Net cash provided by operating activities 98,393 41,594
CASH FLOWS FROM INVESTING ACTIVITIES    
Property, plant and equipment expenditures (29,234) (19,753)
Intangible assets expenditures (3,559) (782)
Investment in unconsolidated affiliates 0 (20,522)
Net cash acquired in acquisition 13,401 0
Net cash used in investing activities (19,392) (41,057)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 0 30,189
Principal payments on long-term debt (26,382) (12,443)
Proceeds from revolver 7,000 11,500
Redemption of mandatorily redeemable Preferred Units (60,702) 0
Payments of deferred financing costs 0 (3,152)
Equity contributions 0 14,890
Equity distributions 0 (30,189)
Net cash (used in) provided by financing activities (80,084) 10,795
Net change in cash (1,083) 11,332
CASH, BEGINNING OF PERIOD 18,729 19,591
CASH, END OF PERIOD 17,646 30,923
SUPPLEMENTAL SCHEDULE OF INVESTING AND FINANCING ACTIVITIES    
Cash paid for interest, net of amounts capitalized 25,801 27,044
Property and equipment and intangible accruals in accounts payable and accrued liabilities 14,340 3,410
Restructuring Cost and Reserve [Line Items]    
Class A Common Stock issued in exchange 1,013,745  
Altus Midstream LP    
Restructuring Cost and Reserve [Line Items]    
Fair value of ALTM assets acquired 2,445,665 0
Class A Common Stock issued in exchange 1,013,745 0
ALTM liabilities and mezzanine equity assumed $ 1,431,920 $ 0
[1] The results of the legacy ALTM business are not included in the Company’s consolidated financials prior to February 22, 2022. Refer to the Form 10-Q basis of presentation in Note 1—Description of the Organization and Summary of Significant Accounting Policies, for further information on the Company’s basis of presentation.