| SEGMENT INFORMATION |
10. SEGMENT INFORMATION
The Partnership has two operating segments gathering and processing and logistics. Our CODM is the Chief Executive Officer of our General Partner, and our CODM monitors these two operating segments separately to evaluate the overall operational and financial performance of our business. These segments have been identified based on the differing products and services, regulatory environment, and expertise required for their respective operations.
The financial information for our operating segments has been presented as of December 31, 2015 and for the year ended December 31, 2015. The Azure System for the period November 15, 2013 up to the Transaction Date and the Azure System Predecessor had one operating segment, and therefore operating segment financial information has not been presented as of December 31, 2014 and for the years ended December 31, 2014 and 2013.
The following table presents financial information by segment for the year ended December 31, 2015:
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Gathering &
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Corporate and
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Azure Midstream
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In thousands
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Processing
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Logistics
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Consolidation
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Partners, LP
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Total operating revenues
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$
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66,625
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$
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13,967
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$
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—
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$
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80,592
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Cost of natural gas and NGL's
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18,408
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—
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—
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18,408
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Gross margin
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48,217
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13,967
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—
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62,184
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Operation and maintenance
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18,347
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2,429
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—
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20,776
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General and administrative
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—
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—
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14,183
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14,183
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Depreciation and amortization expense
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15,397
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5,518
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42
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20,957
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Impairments
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122,982
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92,776
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—
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215,758
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Operating loss
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(108,509)
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(86,756)
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(14,225)
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(209,490)
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Interest expense
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—
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—
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11,333
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11,333
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Other (income) expense
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937
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—
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(21)
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916
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Net loss before income tax expense
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(109,446)
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(86,756)
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(25,537)
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(221,739)
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Income tax expense
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6
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—
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680
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686
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Net loss
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$
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(109,452)
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$
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(86,756)
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$
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(26,217)
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$
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(222,425)
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The following table presents financial information by segment as of December 31, 2015:
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Gathering &
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Corporate and
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Azure Midstream
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In thousands
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Processing
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Logistics
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Consolidation
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Partners, LP
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Assets:
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Current assets
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$
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6,489
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$
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1,565
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$
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10,831
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$
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18,885
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Property, plant and equipment, net
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483,763
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993
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$
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399
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485,155
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Intangible assets, net
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—
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59,583
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—
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59,583
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Other assets
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—
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—
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3,602
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3,602
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Total Assets
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$
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490,252
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$
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62,141
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$
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14,832
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$
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567,225
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Liabilities and Partners’ Capital
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Total current liabilities
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$
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3,691
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$
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54
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$
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2,569
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$
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6,314
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Total long-term liabilities
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11,625
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—
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232,839
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244,464
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Total Liabilities
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15,316
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54
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235,408
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250,778
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Partners’ Capital
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474,936
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62,087
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(220,576)
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316,447
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Total Liabilities and Partners’ Capital
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$
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490,252
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$
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62,141
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$
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14,832
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$
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567,225
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