v3.4.0.3
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2016
SEGMENT INFORMATION  
SEGMENT INFORMATION

9.  SEGMENT INFORMATION

 

As of March 31, 2016, the Partnership had two operating segments gathering and processing and logistics. These segments were identified based on the differing products and services, regulatory environment, and expertise required for their respective operations. The Partnership's CODM is the Chief Executive Officer of our General Partner.

 

Beginning in the second quarter of 2016, we will evaluate our segment reporting as a result of the AES contract terminations.

 

The financial information for our operating segments has been presented for the three months ended March 31, 2016 and 2015 and as of March 31, 2016 and 2015. 

 

The following table presents financial information by segment for the three months ended March 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Gathering &

    

 

 

    

Corporate and

    

Azure Midstream

 

In thousands

 

Processing

 

Logistics

 

Consolidation

 

Partners, LP

 

Total operating revenues

 

$
12,681

 

$

 —

 

$

 —

 

$
12,681

 

Cost of natural gas and NGL's

 

 
3,330

 

 

 —

 

 

 —

 

 
3,330

 

Gross margin

 

 
9,351

 

 

 —

 

 

 —

 

 
9,351

 

Operation and maintenance

 

 
3,408

 

 
663

 

 

 —

 

 
4,071

 

General and administrative

 

 

 —

 

 

 —

 

 
2,688

 

 
2,688

 

Depreciation and amortization expense

 

 
4,314

 

 
1,654

 

 
22

 

 
5,990

 

Impairments

 

 
78,264

 

 
29,213

 

 

 —

 

 
107,477

 

Operating loss

 

 
(76,635)

 

 
(31,530)

 

 
(2,710)

 

 
(110,875)

 

Interest expense

 

 

 —

 

 

 —

 

 
3,001

 

 
3,001

 

Other expense, net

 

 
35

 

 

 —

 

 
60

 

 
95

 

Net loss before income tax expense

 

 
(76,670)

 

 
(31,530)

 

 
(5,771)

 

 
(113,971)

 

Income tax expense (benefit)

 

 
7

 

 

 —

 

 
(407)

 

 
(400)

 

Net loss

 

$
(76,677)

 

$
(31,530)

 

$
(5,364)

 

$
(113,571)

 

 

 

The following table presents financial information by segment for the three months ended March 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Gathering &

    

 

 

    

Corporate and

    

Azure Midstream

 

In thousands

 

Processing

 

Logistics

 

Consolidation

 

Partners, LP

 

Total operating revenues

 

$
14,260

 

$
1,420

 

$

 —

 

$
15,680

 

Cost of natural gas and NGL's

 

 
4,803

 

 

 —

 

 

 —

 

 
4,803

 

Gross margin

 

 
9,457

 

 
1,420

 

 

 —

 

 
10,877

 

Operation and maintenance

 

 
4,288

 

 
370

 

 

 —

 

 
4,658

 

General and administrative

 

 

 —

 

 

 —

 

 
2,874

 

 
2,874

 

Depreciation and amortization expense

 

 
2,627

 

 
567

 

 

 —

 

 
3,194

 

Impairments

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Operating income (loss)

 

 
2,542

 

 
483

 

 
(2,874)

 

 
151

 

Interest expense

 

 

 —

 

 

 —

 

 
3,473

 

 
3,473

 

Other expense, net

 

 
1,099

 

 

 —

 

 

 —

 

 
1,099

 

Net income (loss) before income tax expense

 

 
1,443

 

 
483

 

 
(6,347)

 

 
(4,421)

 

Income tax expense (benefit)

 

 
(138)

 

 

 —

 

 
97

 

 
(41)

 

Net income (loss)

 

$
1,581

 

$
483

 

$
(6,444)

 

$
(4,380)

 

 

 

The following table presents financial information by segment as of March 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Gathering &

    

 

 

    

Corporate and

    

Azure Midstream

 

In thousands

 

Processing

 

Logistics

 

Consolidation

 

Partners, LP

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

$
6,300

 

$
77

 

$
16,437

 

$
22,814

 

Property, plant and equipment, net

 

 
401,712

 

 
964

 

$
377

 

 
403,053

 

Intangible assets, net

 

 

 —

 

 
28,745

 

 

 —

 

 
28,745

 

Other assets

 

 

 —

 

 

 —

 

 
321

 

 
321

 

Total Assets

 

$
408,012

 

$
29,786

 

$
17,135

 

$
454,933

 

Liabilities and Partners’ Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

$
2,301

 

$
3

 

$
1,447

 

$
3,751

 

Total long-term liabilities

 

 
18,520

 

 

 —

 

 
229,362

 

 
247,882

 

Total Liabilities

 

 
20,821

 

 
3

 

 
230,809

 

 
251,633

 

Partners’ Capital

 

 
387,191

 

 
29,783

 

 
(213,674)

 

 
203,300

 

Total Liabilities and Partners’ Capital

 

$
408,012

 

$
29,786

 

$
17,135

 

$
454,933

 

 

 

The following table presents financial information by segment as of March 31, 2015: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Gathering &

    

 

 

    

Corporate and

    

Azure Midstream

 

In thousands

 

Processing

 

Logistics

 

Consolidation

 

Partners, LP

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

$
8,230

 

$
1,499

 

$
5,801

 

$
15,530

 

Property, plant and equipment, net

 

 
494,540

 

 
805

 

$

 —

 

 
495,345

 

Goodwill

 

 
122,497

 

 
92,410

 

 

 —

 

 
214,907

 

Intangible assets, net

 

 

 —

 

 
64,458

 

 

 —

 

 
64,458

 

Other assets (1)

 

 
586

 

 

 —

 

 
1

 

 
587

 

Total Assets

 

$
625,853

 

$
159,172

 

$
5,802

 

$
790,827

 

Liabilities and Partners’ Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

$
7,236

 

$
236

 

$
10,628

 

$
18,100

 

Total long-term liabilities (1)

 

 
11,625

 

 

 —

 

 
229,554

 

 
241,179

 

Total Liabilities

 

 
18,861

 

 
236

 

 
240,182

 

 
259,279

 

Partners’ Capital

 

 
606,992

 

 
158,936

 

 
(234,380)

 

 
531,548

 

Total Liabilities and Partners’ Capital

 

$
625,853

 

$
159,172

 

$
5,802

 

$
790,827

 

_____________________________

(1) Includes reclassification of deferred loan costs of $5.1 million from other assets to total long-term liabilities.