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Reportable Segment (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Summarized Financial Information Table

The following table presents information about the Partnership’s single operating and reportable segment, including (i) total revenues and other, (ii) significant expenses, and (iii) other segment items:

						Three Months Ended  June 30,												Six Months Ended  June 30,
thousands						2026						2025						2026						2025
Revenues from external customers (1)						$	1,217,500					$	942,141					$	2,339,185					$	1,859,059
Other revenues						7,219						181						9,113						379
Total revenues and other						1,224,719						942,322						2,348,298						1,859,438
Equity income, net – related parties						21,536						27,128						36,312						47,563
Less significant expenses: (2)
Operation and maintenance						285,353						224,629						549,594						451,143
Cash general and administrative costs (3)						70,462						54,009						133,291						111,713
Less other segment items:
Depreciation and amortization						205,945						172,113						406,371						342,573
Interest expense						108,984						95,170						222,374						192,463
Other (income) expense, net (4)						(2,834)						(3,692)						(9,564)						(11,169)
Income tax expense (benefit)						5,152						2,239						8,653						5,674
Other (5)						157,942						74,220						299,608						147,290
Net income (loss)						$	415,251					$	350,762					$	774,283					$	667,314

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(1)Includes Service revenue - fee based, Service revenue - product based, and Product sales.

(2)The significant expense categories and amounts align with the information that is regularly provided to the CODM.

(3)General and administrative expense as presented in the consolidated statements of operations less non-cash equity-based compensation expense and non-cash amortization of cloud-computing arrangements.

(4)Includes interest income earned on cash and cash equivalent balances.

(5)Other includes: (i) cost of product, (ii) non-cash equity-based compensation expense, (iii) non-cash amortization of cloud-computing arrangements, (iv) property and other taxes, (v) long-lived asset and other impairments, (vi) gain (loss) on divestiture and other, net, and (vii) gain (loss) on early extinguishment of debt.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

+ Details

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