Consolidated Statements of Cash Flows - WES Operating - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
| Cash flows from operating activities |
|
|
|
|
| Net income (loss) |
|
$ 1,611,252
|
$ 1,048,007
|
$ 1,251,456
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
|
| Depreciation and amortization |
|
650,428
|
600,668
|
582,365
|
| Long-lived asset and other impairments |
[1] |
6,206
|
52,884
|
20,585
|
| Non-cash equity-based compensation expense |
|
37,994
|
32,005
|
27,783
|
| Deferred income taxes |
|
14,211
|
1,044
|
1,999
|
| Accretion and amortization of long-term obligations, net |
|
9,238
|
8,151
|
7,142
|
| Equity income, net – related parties |
|
(112,385)
|
(152,959)
|
(183,483)
|
| Distributions from equity-investment earnings – related parties |
|
111,386
|
155,169
|
186,153
|
| (Gain) loss on divestiture and other, net |
|
(296,771)
|
10,102
|
(103,676)
|
| (Gain) loss on early extinguishment of debt |
|
(5,403)
|
(15,378)
|
(91)
|
| Other |
|
248
|
442
|
510
|
| Changes in assets and liabilities: |
|
|
|
|
| (Increase) decrease in accounts receivable, net |
|
(42,798)
|
(78,346)
|
(116,296)
|
| Increase (decrease) in accounts and imbalance payables and accrued liabilities, net |
|
(21,935)
|
(68,019)
|
(7,812)
|
| Change in other items, net |
|
175,189
|
67,564
|
34,791
|
| Net cash provided by operating activities |
|
2,136,860
|
1,661,334
|
1,701,426
|
| Cash flows from investing activities |
|
|
|
|
| Capital expenditures |
[2] |
(833,856)
|
(735,080)
|
(487,228)
|
| Contributions to equity investments – related parties |
|
(9,690)
|
(1,153)
|
(9,632)
|
| Distributions from equity investments in excess of cumulative earnings – related parties |
|
30,850
|
39,104
|
63,897
|
| (Increase) decrease in materials and supplies inventory and other |
|
(18,284)
|
(32,329)
|
(9,468)
|
| Net cash provided by (used in) investing activities |
|
(39,168)
|
(1,607,291)
|
(218,237)
|
| Cash flows from financing activities |
|
|
|
|
| Borrowings, net of debt issuance costs |
|
789,044
|
2,448,733
|
1,389,010
|
| Repayments of debt |
|
(143,852)
|
(1,967,928)
|
(1,518,548)
|
| Commercial paper borrowings (repayments), net |
|
(610,313)
|
609,916
|
0
|
| Increase (decrease) in outstanding checks |
|
(5,622)
|
3,516
|
2,206
|
| Distributions to WES Operating unitholders |
[2] |
(1,246,069)
|
(978,430)
|
(735,755)
|
| Net contributions from (distributions to) related parties |
|
0
|
0
|
1,423
|
| Other |
|
(33,381)
|
(18,626)
|
(13,644)
|
| Net cash provided by (used in) financing activities |
|
(1,280,015)
|
(67,912)
|
(1,398,532)
|
| Net increase (decrease) in cash and cash equivalents |
|
817,677
|
(13,869)
|
84,657
|
| Cash and cash equivalents at beginning of period |
|
272,787
|
286,656
|
201,999
|
| Cash and cash equivalents at end of period |
|
1,090,464
|
272,787
|
286,656
|
| Supplemental disclosures |
|
|
|
|
| Interest paid, net of capitalized interest |
|
360,847
|
326,948
|
355,363
|
| Income taxes paid (reimbursements received) |
|
2,225
|
4,131
|
912
|
| Accrued capital expenditures |
|
64,084
|
99,610
|
82,353
|
| Chipeta [Member] |
|
|
|
|
| Cash flows from financing activities |
|
|
|
|
| Distributions to Chipeta noncontrolling interest owner |
|
(4,372)
|
(7,641)
|
(10,736)
|
| Third Parties [Member] |
|
|
|
|
| Cash flows from investing activities |
|
|
|
|
| Acquisitions from third parties |
|
(443)
|
(877,746)
|
(40,127)
|
| Proceeds from the sale of assets |
|
792,255
|
(87)
|
264,121
|
| Related Parties [Member] |
|
|
|
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
|
| (Gain) loss on divestiture and other, net |
|
0
|
0
|
1,756
|
| Cash flows from investing activities |
|
|
|
|
| Capital expenditures |
|
0
|
0
|
(470)
|
| Proceeds from the sale of assets |
|
0
|
0
|
200
|
| Cash flows from financing activities |
|
|
|
|
| Distributions to WES Operating unitholders |
|
(604,512)
|
(494,127)
|
(372,468)
|
| WES Operating [Member] |
|
|
|
|
| Cash flows from operating activities |
|
|
|
|
| Net income (loss) |
|
1,612,883
|
1,050,681
|
1,254,074
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
|
| Depreciation and amortization |
|
650,428
|
600,668
|
582,365
|
| Long-lived asset and other impairments |
[3] |
6,206
|
52,884
|
20,585
|
| Non-cash equity-based compensation expense |
|
37,413
|
31,424
|
27,213
|
| Deferred income taxes |
|
14,211
|
1,044
|
1,999
|
| Accretion and amortization of long-term obligations, net |
|
9,238
|
8,151
|
7,142
|
| Equity income, net – related parties |
|
(112,385)
|
(152,959)
|
(183,483)
|
| Distributions from equity-investment earnings – related parties |
|
111,386
|
155,169
|
186,153
|
| (Gain) loss on divestiture and other, net |
|
(296,771)
|
10,102
|
(103,676)
|
| (Gain) loss on early extinguishment of debt |
|
(5,403)
|
(15,378)
|
(91)
|
| Other |
|
248
|
442
|
510
|
| Changes in assets and liabilities: |
|
|
|
|
| (Increase) decrease in accounts receivable, net |
|
(42,796)
|
(78,324)
|
(116,296)
|
| Increase (decrease) in accounts and imbalance payables and accrued liabilities, net |
|
(47,822)
|
(83,332)
|
(17,189)
|
| Change in other items, net |
|
171,876
|
67,629
|
34,827
|
| Net cash provided by operating activities |
|
2,108,712
|
1,648,201
|
1,694,133
|
| Cash flows from investing activities |
|
|
|
|
| Capital expenditures |
[4] |
(833,856)
|
(735,080)
|
(487,228)
|
| Contributions to equity investments – related parties |
|
(9,690)
|
(1,153)
|
(9,632)
|
| Distributions from equity investments in excess of cumulative earnings – related parties |
|
30,850
|
39,104
|
63,897
|
| (Increase) decrease in materials and supplies inventory and other |
|
(18,284)
|
(32,329)
|
(9,468)
|
| Net cash provided by (used in) investing activities |
|
(39,168)
|
(1,607,291)
|
(218,237)
|
| Cash flows from financing activities |
|
|
|
|
| Borrowings, net of debt issuance costs |
|
789,044
|
2,448,733
|
1,389,010
|
| Repayments of debt |
|
(143,852)
|
(1,967,928)
|
(1,518,548)
|
| Commercial paper borrowings (repayments), net |
|
(610,313)
|
609,916
|
0
|
| Increase (decrease) in outstanding checks |
|
(5,572)
|
3,464
|
2,309
|
| Distributions to WES Operating unitholders |
[4] |
(1,272,152)
|
(1,142,217)
|
(1,244,533)
|
| Net contributions from (distributions to) related parties |
|
0
|
0
|
1,423
|
| Other |
|
(6,065)
|
(3,154)
|
(4,318)
|
| Net cash provided by (used in) financing activities |
|
(1,253,282)
|
(58,827)
|
(1,385,393)
|
| Net increase (decrease) in cash and cash equivalents |
|
816,262
|
(17,917)
|
90,503
|
| Cash and cash equivalents at beginning of period |
|
268,184
|
286,101
|
195,598
|
| Cash and cash equivalents at end of period |
|
1,084,446
|
268,184
|
286,101
|
| Supplemental disclosures |
|
|
|
|
| Interest paid, net of capitalized interest |
|
360,847
|
326,948
|
355,363
|
| Income taxes paid (reimbursements received) |
|
2,225
|
4,131
|
912
|
| Accrued capital expenditures |
|
64,084
|
99,610
|
82,353
|
| WES Operating [Member] | Chipeta [Member] |
|
|
|
|
| Cash flows from financing activities |
|
|
|
|
| Distributions to Chipeta noncontrolling interest owner |
|
(4,372)
|
(7,641)
|
(10,736)
|
| WES Operating [Member] | Third Parties [Member] |
|
|
|
|
| Cash flows from investing activities |
|
|
|
|
| Acquisitions from third parties |
|
(443)
|
(877,746)
|
(40,127)
|
| Proceeds from the sale of assets |
|
792,255
|
(87)
|
264,121
|
| WES Operating [Member] | Related Parties [Member] |
|
|
|
|
| Cash flows from financing activities |
|
|
|
|
| Distributions to WES Operating unitholders |
|
$ (1,272,152)
|
$ (1,142,217)
|
$ (1,244,533)
|
|
|