v3.25.0.1

Equity Investments (Tables)

12 Months Ended

Dec. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Equity Investments Table

The following tables present the financial statement impact of the Partnership’s equity investments:

thousands						Balance at December 31, 2022																		Equity income, net						Contributions						Distributions						Distributions in excess of cumulative earnings (1)												Balance at December 31, 2023
White Cliffs						$	16,095																	$	2,094					$	—					$	(1,720)					$	(3,221)											$	13,248
Rendezvous						16,114																		(2,621)						—						(638)						(2,040)												10,815
Mont Belvieu JV						91,310																		23,476						—						(23,128)						(3,102)												88,556
TEG						15,856																		3,504						700						(3,527)						(1,348)												15,185
TEP						184,687																		35,578						—						(35,829)						(11,877)												172,559
FRP						192,716																		47,829						—						(48,003)						(5,991)												186,551
Whitethorn LLC						146,595																		(6,870)						132						6,398						(1,456)												144,799
Saddlehorn						104,191																		24,003						—						(23,545)						(2,889)												101,760
Panola						19,311																		2,507						—						(2,638)						(464)												18,716
Mi Vida						48,862																		9,135						—						(8,215)						(4,358)												45,424
Red Bluff Express						108,959																		14,324						321						(14,324)						(2,358)												106,922
Total						$	944,696																	$	152,959					$	1,153					$	(155,169)					$	(39,104)											$	904,535

_________________________________________________________________________________________

(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.

thousands						Balance at December 31, 2023																		Equity income, net						Contributions						Distributions						Distributions in excess of cumulative earnings (1)						Acquisitions and Divestitures (2)						Balance at December 31, 2024
White Cliffs						$	13,248																	$	3,916					$	—					$	(3,916)					$	(3,446)					$	—					$	9,802
Rendezvous						10,815																		(2,274)						—						(985)						(1,917)						—						5,639
Mont Belvieu JV						88,556																		51						—						(442)						(6,047)						(82,118)						—
TEG						15,185																		832						—						(855)						(666)						—						14,496
TEP						172,559																		27,585						—						(27,837)						(2,247)						—						170,060
FRP						186,551																		48,726						—						(46,948)						(4,741)						—						183,588
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																		9,126						—						(10,566)						(1,219)						—						42,765
Red Bluff Express						106,922																		18,964						9,690						(18,965)						(1,526)						—						115,085
Total						$	904,535																	$	112,385					$	9,690					$	(111,386)					$	(30,850)					$	(342,939)					$	541,435

_________________________________________________________________________________________

(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.

Summarized Equity Investments Financial Information Presented at 100 Percent Tables

The following tables present the summarized combined financial information for equity investments (amounts represent 100% of investee financial information):

						Year Ended December 31,
thousands						2024						2023						2022
Revenues						$	699,011					$	1,572,120					$	1,922,733
Operating income						439,052						619,597						661,779
Net income						441,752						623,593						661,916

						December 31,
thousands						2024						2023
Current assets						$	176,058					$	302,675
Property, plant, and equipment, net						2,186,172						4,114,540
Other assets						2,349						50,693
Total assets						$	2,364,579					$	4,467,908
Current liabilities						$	75,130					$	130,028
Non-current liabilities						7,943						17,920
Equity						2,281,506						4,319,960
Total liabilities and equity						$	2,364,579					$	4,467,908

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- References

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- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

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

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- Definition

Tabular disclosure of investments in and advances to affiliates. Does not include the tabular disclosure of the disaggregation of investments in and advances to affiliates across legal entities.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

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