v3.10.0.1

Reporting Segments

12 Months Ended

Dec. 31, 2018

Reporting Segments

Reporting Segments

(15) Reporting Segments

The Partnership’s operations are located in the United States and are organized into two reporting segments: (1) gathering and processing and (2) water handling and treatment.

Gathering and Processing

The gathering and processing segment includes a network of gathering pipelines and compressor stations that collect and process production from Antero Resources’ wells in West Virginia and Ohio.  The gathering and processing segment also includes income from processing and fractionation plants through our equity interest in the Joint Venture with MarkWest.

Water Handling and Treatment

The Partnership’s water handling and treatment segment includes two independent systems that deliver fresh water from sources including the Ohio River, local reservoirs as well as several regional waterways.  The water handling and treatment segment also includes a wastewater treatment facility that was placed in service in 2018, as well as other fluid handling services, which includes high rate transfer, wastewater transportation and disposal.  See Note 5—Property and Equipment.

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.  Management evaluates the performance of the Partnership’s business segments based on operating income.  Interest expense is primarily managed and evaluated on a consolidated basis.

					Water
		Gathering and			Handling and			Consolidated
		Processing			Treatment			Total
Year ended December 31, 2016
Revenues:
Revenue–Antero Resources		$	303,250			282,267			585,517
Revenue–third-party			835			—			835
Gain on sale of assets–third-party			3,859			—			3,859
Total revenues			307,944			282,267			590,211
Operating expenses:
Direct operating			27,289			134,298			161,587
General and administrative (excluding equity-based compensation)			20,118			7,996			28,114
Equity-based compensation			19,714			6,335			26,049
Depreciation			69,962			29,899			99,861
Accretion and change in fair value of contingent acquisition consideration			—			16,489			16,489
Total expenses			137,083			195,017			332,100
Operating income		$	170,861			87,250			258,111
Equity in earnings of unconsolidated affiliates		$	485			—			485
Total assets		$	1,734,208			615,687			2,349,895
Additions to property and equipment		$	228,100			188,220			416,320
Year ended December 31, 2017
Revenues:
Revenue–Antero Resources		$	396,202			376,031			772,233
Revenue–third-party			264			—			264
Total revenues			396,466			376,031			772,497
Operating expenses:
Direct operating			39,251			193,287			232,538
General and administrative (excluding equity-based compensation)			20,607			10,922			31,529
Equity-based compensation			19,730			7,553			27,283
Impairment of property and equipment			23,431			—			23,431
Depreciation			86,372			33,190			119,562
Accretion and change in fair value of contingent acquisition consideration			—			13,476			13,476
Total expenses			189,391			258,428			447,819
Operating income		$	207,075			117,603			324,678
Equity in earnings of unconsolidated affiliates		$	20,194			—			20,194
Total assets		$	2,237,913			804,296			3,042,209
Additions to property and equipment		$	346,217			195,162			541,379
Year ended December 31, 2018
Revenues:
Revenue–Antero Resources		$	520,566			506,449			1,027,015
Revenue–third-party			—			924			924
Gain on sale of assets–Antero Resources			583			—			583
Total revenues			521,149			507,373			1,028,522
Operating expenses:
Direct operating			49,256			267,167			316,423
General and administrative (excluding equity-based compensation)			30,091			10,465			40,556
Equity-based compensation			16,518			4,555			21,073
Impairment of property and equipment			5,771			—			5,771
Depreciation			83,250			46,763			130,013
Accretion and change in fair value of contingent acquisition consideration			—			(93,019)			(93,019)
Accretion of asset retirement obligations			—			135			135
Total expenses			184,886			236,066			420,952
Operating income		$	336,263			271,307			607,570
Equity in earnings of unconsolidated affiliates		$	40,280			—			40,280
Total assets		$	2,610,300			936,117			3,546,417
Additions to property and equipment		$	446,270			88,674			534,944

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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