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EQUITY METHOD INTERESTS (Tables)
 12 Months Ended
Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
As of December 31, 2021, the Company owns the following equity method interests in Permian Basin long-haul pipeline entities. For each of the equity method interests, the Company has the ability to exercise significant influence based on certain governance provisions and its participation in the significant activities and decisions that impact the management and economic performance of the equity method interests.
December 31, 2021December 31, 2020
In thousands, except for ownership percentagesOwnershipAmountOwnershipAmount
Gulf Coast Express Pipeline LLC16.0 %$273,940 16.0 %$283,530 
EPIC Crude Holdings, LP15.0 %— 15.0 %176,640 
Permian Highway Pipeline LLC26.7 %629,896 26.7 %615,186 
Breviloba, LLC33.0 %460,990 33.0 %479,826 
$1,364,826 $1,555,182 
The following table presents the activity in the Company’s equity method interests for the years ended December 31, 2021 and 2020:
Gulf Coast Express Pipeline LLCEPIC Crude Holdings, LPPermian Highway Pipeline LLCBreviloba, LLC
Total
(In thousands)
Balance at December 31, 2019$291,628 $163,199 $310,421 $492,800 $1,258,048 
Contributions1,715 29,250 296,340 — 327,305 
Distributions(52,009)— — (46,157)(98,166)
Capitalized interest(1)
— — 8,733 — 8,733 
Equity income (loss), net42,196 (16,332)(308)33,183 58,739 
Other comprehensive loss523 — — 523 
Balance at December 31, 2020$283,530 $176,640 $615,186 $479,826 $1,555,182 
Contributions314 2,250 25,856 — 28,420 
Distributions(49,953)— (73,668)(49,108)(172,729)
Equity income (loss), net40,049 (19,079)62,522 30,272 113,764 
Other comprehensive income— 630 — — 630 
Impairment(2)
— (160,441)— — (160,441)
Balance at December 31, 2021$273,940 $— $629,896 $460,990 $1,364,826 
(1)Altus’ proportionate share of the PHP construction costs were funded with the revolving credit facility. Accordingly, Altus capitalized $8.7 million of related interest expense during 2020, which is included in the basis of the PHP equity interest.
(2)The Company impaired its investment in EPIC in the fourth quarter of 2021. Refer to Note 1—Summary of Significant Accounting Policies for further details on this impairment charge.
Schedule of Equity Method Investment, Summarized Financial Information
The following represents selected income statement and balance sheet data for the Company’s equity method interests (on a 100 percent basis):
For the Year Ended December 31,
2021
Gulf Coast Express Pipeline LLCEPIC Crude Holdings, LPPermian Highway Pipeline LLCBreviloba, LLC
Statements of Income(In thousands)
Revenues$362,399 $164,774 $397,237 $157,683 
Operating income (loss)254,772 (36,488)237,230 92,568 
Net income (loss)253,535 (114,519)236,528 92,005 
Other comprehensive income— 4,197 — — 
For the Year Ended December 31,
2020
Gulf Coast Express Pipeline LLCEPIC Crude Holdings, LPPermian Highway Pipeline LLCBreviloba, LLC
Statements of Income(In thousands)
Revenues$366,185 $165,970 $7,220 $167,784 
Operating income (loss)266,219(35,566)(1,798)102,526 
Net income (loss)264,956(109,614)(1,140)102,048 
Other comprehensive income—3,484—— 
For the Year Ended December 31,
2019(1)
Gulf Coast Express Pipeline LLCEPIC Crude Holdings, LPPermian Highway Pipeline LLCBreviloba, LLC
Statements of Income(In thousands)
Revenues$132,103 $40,756 $— $129,559 
Operating income (loss)108,056(67,763)(93)81,369 
Net income (loss)109,997(72,535)1,58781,469 
Other comprehensive loss—(7,681)—— 
(1)Although the Company’s interests in EPIC Crude Holdings, LP, Permian Highway Pipeline LLC, and Breviloba, LLC were acquired in March, May, and July of 2019, respectively, the financial results for all equity method interests are presented for the entire twelve months of 2019 for comparability.
As of December 31,
20212020
Gulf Coast Express Pipeline LLCEPIC Crude Holdings, LPPermian Highway Pipeline LLCBreviloba, LLCGulf Coast Express Pipeline LLCEPIC Crude Holdings, LPPermian Highway Pipeline LLCBreviloba, LLC
Balance Sheets(In thousands)
Current assets$74,408 $101,189 $69,995 $34,159 $59,910 $122,995 $23,734 $53,206 
Noncurrent assets1,655,941 2,177,616 2,267,940 1,344,178 1,714,062 2,272,805 2,316,176 1,375,155 
Total assets$1,730,349 $2,278,805 $2,337,935 $1,378,337 $1,773,972 $2,395,800 $2,339,910 $1,428,361 
Current liabilities$46,151 $58,729 $36,657 $11,244 $32,997 $67,073 $95,863 $10,326 
Noncurrent liabilities461 1,185,003 — 8,254 526 1,187,615 — 2,389 
Equity1,683,737 1,035,073 2,301,278 1,358,839 1,740,449 1,141,112 2,244,047 1,415,646 
Total liabilities and equity$1,730,349 $2,278,805 $2,337,935 $1,378,337 $1,773,972 $2,395,800 $2,339,910 $1,428,361