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Reporting Segments | 9 Months Ended
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Sep. 30, 2015
Reporting Segments |
Reporting Segments | (9) Reporting Segments The Partnership’s operations are located in the United States and are organized into two reporting segments: (1) gathering and compression and (2) water handling. Gathering and Compression The gathering and compression segment includes a network of gathering pipelines and compressor stations that collect natural gas, NGLs and oil from Antero’s wells in the Marcellus Shale in West Virginia and the Utica Shale in Ohio. Water Handling The Partnership’s water handling segment includes two independent fresh water distribution systems that source and deliver fresh water from the Ohio River and several regional waterways for well completion operations in Antero’s operating areas. These systems consist of permanent buried pipelines, surface pipelines and fresh water storage facilitates, as well as pumping stations and impoundments to transport the fresh water throughout the pipelines. The water handling segment also includes a water treatment facility, currently under construction. These segments are monitored separately by management for performance and are consistent with internal financial reporting. These segments have been identified based on the differing products and services, regulatory environment and the expertise required for these operations. We evaluate the performance of the Partnership’s business segments based on operating income. Interest expense is primarily managed and evaluated on a consolidated basis. Summarized financial information concerning the Partnership’s segments for the periods indicated is shown in the following table (in thousands):
|  | Gathering and |  | Water |  | Consolidated
|  | Compression |  | Handling |  | Total
Three months ended September 30, 2014 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
Revenue - affiliate |  | $ | 26,282 |  | $ | 42,631 |  | $ | 68,913
Revenue - third-party |  |  | - |  |  | 2,671 |  |  | 2,671
Total revenues |  | $ | 26,282 |  | $ | 45,302 |  | $ | 71,584
Operating expenses: |  |  |  |  |  |  |  |  |
Direct operating |  |  | 3,525 |  |  | 9,054 |  |  | 12,579
General and administrative (before equity-based compensation) |  |  | 3,956 |  |  | 1,576 |  |  | 5,532
Equity-based compensation |  |  | 1,562 |  |  | 549 |  |  | 2,111
Depreciation |  |  | 10,227 |  |  | 4,390 |  |  | 14,617
Total |  | $ | 19,270 |  | $ | 15,569 |  | $ | 34,839
Operating income |  | $ | 7,012 |  | $ | 29,733 |  | $ | 36,745
Segment assets |  | $ | 1,071,273 |  | $ | 396,692 |  | $ | 1,467,965
Capital expenditures for segment assets |  | $ | 162,482 |  | $ | 53,305 |  | $ | 215,787
Three months ended September 30, 2015 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
Revenue - affiliate |  | $ | 59,220 |  | $ | 21,819 |  | $ | 81,039
Revenue - third-party |  |  | 38 |  |  | 627 |  |  | 665
Total revenues |  | $ | 59,258 |  | $ | 22,446 |  | $ | 81,704
Operating expenses: |  |  |  |  |  |  |  |  |
Direct operating |  |  | (3,164) |  |  | 4,773 |  |  | 1,609
General and administrative (before equity-based compensation) |  |  | 7,060 |  |  | 1,498 |  |  | 8,558
Equity-based compensation |  |  | 4,205 |  |  | 1,079 |  |  | 5,284
Depreciation |  |  | 15,076 |  |  | 6,485 |  |  | 21,561
Total |  | $ | 23,177 |  | $ | 13,835 |  | $ | 37,012
Operating income |  | $ | 36,081 |  | $ | 8,611 |  | $ | 44,692
Segment assets |  | $ | 1,395,057 |  | $ | 487,734 |  | $ | 1,882,791
Capital expenditures for segment assets |  | $ | 82,751 |  | $ | 19,821 |  | $ | 102,572
Acquired water handling assets |  | $ | - |  | $ | 28,560 |  | $ | 28,560
|  | Gathering and |  | Water |  | Consolidated |
|  | Compression |  | Handling |  | Total |
Nine months ended September 30, 2014 |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |
Revenue - affiliate |  | $ | 54,978 |  | $ | 107,907 |  | $ | 162,885 |
Revenue - third-party |  |  | - |  |  | 2,671 |  |  | 2,671 |
Total revenues |  | $ | 54,978 |  | $ | 110,578 |  | $ | 165,556 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating |  |  | 6,661 |  |  | 25,871 |  |  | 32,532 |
General and administrative (before equity-based compensation) |  |  | 9,710 |  |  | 4,085 |  |  | 13,795 |
Equity-based compensation |  |  | 5,365 |  |  | 2,027 |  |  | 7,392 |
Depreciation |  |  | 24,991 |  |  | 10,748 |  |  | 35,739 |
Total |  | $ | 46,727 |  | $ | 42,731 |  | $ | 89,458 |
Operating income |  | $ | 8,251 |  | $ | 67,847 |  | $ | 76,098 |
Segment assets |  | $ | 1,071,273 |  | $ | 396,692 |  | $ | 1,467,965 |
Capital expenditures for segment assets |  | $ | 428,036 |  | $ | 159,097 |  | $ | 587,133 |
Nine months ended September 30, 2015 |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |
Revenue - affiliate |  | $ | 168,056 |  | $ | 86,759 |  | $ | 254,815 |
Revenue - third-party |  |  | 38 |  |  | 778 |  |  | 816 |
Total revenues |  | $ | 168,094 |  | $ | 87,537 |  | $ | 255,631 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating |  |  | 19,817 |  |  | 19,013 |  |  | 38,830 |
General and administrative (before equity-based compensation) |  |  | 16,467 |  |  | 3,793 |  |  | 20,260 |
Equity-based compensation |  |  | 14,218 |  |  | 3,445 |  |  | 17,663 |
Depreciation |  |  | 44,748 |  |  | 18,767 |  |  | 63,515 |
Total |  | $ | 95,250 |  | $ | 45,018 |  | $ | 140,268 |
Operating income |  | $ | 72,844 |  | $ | 42,519 |  | $ | 115,363 |
Segment assets |  | $ | 1,395,057 |  | $ | 487,734 |  | $ | 1,882,791 |
Capital expenditures for segment assets |  | $ | 282,826 |  | $ | 53,086 |  | $ | 335,912 |
Acquired water handling assets |  | $ | - |  | $ | 28,560 |  | $ | 28,560 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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