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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income including noncontrolling interests [1] $ 152,837,000 $ 2,770,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense [1] 127,604,000 113,137,000
Amortization of deferred financing costs 6,538,000 6,637,000
Amortization of contract costs 896,000 896,000
Contingent liabilities remeasurement (839,000) 0
Distributions from unconsolidated affiliates 117,544,000 27,882,000
Derivatives settlement 11,115,000 (16,297,000)
Derivatives fair value adjustment (102,544,000) 13,409,000
Gain on redemption of mandatorily redeemable Preferred Units (9,580,000) 0
Loss on disposal of assets [1] 8,656,000 454,000
Equity in earnings from unconsolidated affiliates [1] (75,703,000) (27,866,000)
(Gain) loss on debt extinguishment 27,975,000 (60,000)
Share-based compensation 18,304,000 0
Deferred income taxes 613,000 0
Change in operating assets and liabilities:    
Accounts receivable (100,511,000) (62,213,000)
Other assets (11,892,000) (14,675,000)
Accounts payable (3,844,000) (777,000)
Accrued liabilities 102,094,000 49,570,000
Operating lease liabilities (345,000) 1,343,000
Net cash provided by operating activities 268,918,000 94,210,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Property, plant and equipment expenditures (71,429,000) (39,371,000)
Intangible assets expenditures (8,516,000) (2,682,000)
Investment in unconsolidated affiliates (2,675,000) (20,522,000)
Cash proceeds from disposals 160,000 58,000
Net cash acquired in acquisition 13,401,000 0
Net cash used in investing activities (69,059,000) (62,517,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 3,000,000,000 30,189,000
Principal payments on long-term debt (2,294,130,000) (50,980,000)
Payment on debt issuance costs (37,042,000) (3,152,000)
Proceeds from revolver 7,000,000 21,500,000
Payment on revolver (716,000,000) (14,500,000)
Redemption of mandatorily redeemable Preferred Units (152,580,000) 0
Distributions paid to mandatorily redeemable Preferred Units holders (1,850,000) 0
Distributions paid to redeemable noncontrolling interests Preferred Units limited partners (6,937,000) 0
Cash dividends paid to Class A Common Stock shareholders (11,239,000) 0
Distributions paid to Class C Common Units limited partners (491,000) (30,189,000)
Equity contributions 0 14,890,000
Net cash (used in) provided by financing activities (213,269,000) (32,242,000)
Net change in cash (13,410,000) (549,000)
CASH, BEGINNING OF PERIOD 18,729,000 19,591,000
CASH, END OF PERIOD 5,319,000 19,042,000
SUPPLEMENTAL SCHEDULE OF INVESTING AND FINANCING ACTIVITIES    
Cash paid for interest, net of amounts capitalized 52,982,000 54,308,000
Property and equipment and intangible accruals in accounts payable and accrued liabilities 20,344,000 9,322,000
Class A Common Stock issued through dividend and distribution reinvestment plan 87,697,000 0
Restructuring Cost and Reserve [Line Items]    
Class A Common Stock issued in exchange 1,013,745,000  
Altus Midstream LP    
Restructuring Cost and Reserve [Line Items]    
Fair value of ALTM assets acquired 2,446,430,000 0
Class A Common Stock issued in exchange 1,013,745,000 0
ALTM liabilities and mezzanine equity assumed $ 1,432,685,000 $ 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 in the Notes to our Condensed Consolidated Financial Statements in this Form 10-Q for further information.