v3.24.1.u1

Equity Investments

3 Months Ended

Mar. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Equity Investments

7. EQUITY INVESTMENTS

The following tables present the financial statement impact of the Partnership’s equity investments for the three months ended March 31, 2024:

thousands						Balance at December 31, 2023																		Equity income, net												Distributions						Distributions in excess of cumulative earnings (1)						Acquisitions and Divestitures (2)						Balance at March 31, 2024
White Cliffs						$	13,248																	$	1,285											$	(1,285)					$	(843)					$	—					$	12,405
Rendezvous						10,815																		(578)												(237)						(464)						—						9,536
Mont Belvieu JV						88,556																		51												(442)						(6,047)						(82,118)						—
TEG						15,185																		169												(175)						(200)						—						14,979
TEP						172,559																		7,218												(7,281)						(635)						—						171,861
FRP						186,551																		11,727												(11,770)						(1,803)						—						184,705
Whitethorn LLC						144,799																		1,185												3,326						(4,924)						(144,386)						—
Saddlehorn						101,760																		4,200												(4,124)						(3,096)						(98,740)						—
Panola						18,716																		74												(74)						(1,021)						(17,695)						—
Mi Vida						45,424																		2,068												(2,050)						—						—						45,442
Red Bluff Express						106,922																		5,420												(5,192)						—						—						107,150
Total						$	904,535																	$	32,819											$	(29,304)					$	(19,033)					$	(342,939)					$	546,078

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(1)Distributions in excess of cumulative earnings, classified as investing cash flows in the consolidated statements of cash flows, are calculated on an individual-investment basis.

(2)See Note 3.

During the first quarter of 2024, the Partnership closed on the sale of the following equity investments to third parties: (i) the 25.00% interest in Mont Belvieu JV, (ii) the 20.00% interest in Whitethorn LLC, (iii) the 15.00% interest in Panola, and (iv) the 20.00% interest in Saddlehorn. See Note 3.

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- References

No definition available.

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 323
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481543/323-740-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 323
-Publisher FASB
-URI https://asc.fasb.org//323/tableOfContent

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