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Reporting Segments | 3 Months Ended
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Mar. 31, 2020
Reporting Segments |
Reporting Segments | (16) Reporting Segments Prior to the closing of the Transactions, AMGP had no reporting segment results. Following the completion of the Transactions, the Company’s operations, which are located in the United States, are organized into two reporting segments: (i) gathering and processing and (ii) water handling. 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 equity in earnings from the Company’s investments in the Joint Venture and Stonewall. Water Handling The Company’s water handling segment includes two independent systems that deliver fresh water from sources including the Ohio River, local reservoirs and several regional waterways. The water handling segment also includes the Clearwater Facility that was placed in service in 2018 and idled in September 2019 (See Note 4—Clearwater Facility Idling), as well as other fluid handling services, which includes high rate transfer, wastewater transportation, disposal and treatment. See Note 8—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 Company’s business segments based on operating income. Interest expense is primarily managed and evaluated on a consolidated basis. The summarized operating results and assets of the Company’s reportable segments were as follows for the three months ended March 31, 2019 and 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gathering and | ​ | Water | ​ | ​ | ​ | Consolidated | ​
(in thousands) |  | Processing |  | Handling |  | Unallocated (1) | ​ | Total | ​
Three months ended March 31, 2019 |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
Revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue–Antero Resources | ​ | $ | 33,534 | ​ | ​ | 22,351 | ​ | ​ | — | ​ | ​ | 55,885 | ​
Revenue–third-party | ​ | ​ | — | ​ | ​ | 4 | ​ | ​ | — | ​ | ​ | 4 | ​
Amortization of customer relationships | ​ | ​ | (501) | ​ | ​ | (1,280) | ​ | ​ | — | ​ | ​ | (1,781) | ​
Total revenues | ​ | ​ | 33,033 | ​ | ​ | 21,075 | ​ | ​ | — | ​ | ​ | 54,108 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct operating | ​ | ​ | 2,935 | ​ | ​ | 12,047 | ​ | ​ | — | ​ | ​ | 14,982 | ​
General and administrative (excluding equity-based compensation) | ​ | ​ | 1,020 | ​ | ​ | 574 | ​ | ​ | 6,792 | ​ | ​ | 8,386 | ​
Equity-based compensation | ​ | ​ | 377 | ​ | ​ | 213 | ​ | ​ | 10,833 | ​ | ​ | 11,423 | ​
Depreciation | ​ | ​ | 2,560 | ​ | ​ | 5,090 | ​ | ​ | — | ​ | ​ | 7,650 | ​
Accretion and change in fair value of contingent acquisition consideration | ​ | ​ | — | ​ | ​ | 1,049 | ​ | ​ | — | ​ | ​ | 1,049 | ​
Accretion of asset retirement obligations | ​ | ​ | — | ​ | ​ | 10 | ​ | ​ | — | ​ | ​ | 10 | ​
Total operating expenses | ​ | ​ | 6,892 | ​ | ​ | 18,983 | ​ | ​ | 17,625 | ​ | ​ | 43,500 | ​
Operating income | ​ | $ | 26,141 | ​ | ​ | 2,092 | ​ | ​ | (17,625) | ​ | ​ | 10,608 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in earnings of unconsolidated affiliates | ​ | $ | 2,880 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,880 | ​
Total assets | ​ | $ | 4,818,809 | ​ | ​ | 1,841,516 | ​ | ​ | 8,102 | ​ | ​ | 6,668,427 | ​
Additions to property and equipment | ​ | $ | 7,677 | ​ | ​ | 8,328 | ​ | ​ | — | ​ | ​ | 16,005 | ​
​
(1) | Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gathering and | ​ | Water | ​ | ​ | ​ | Consolidated | ​
(in thousands) |  | Processing |  | Handling |  | Unallocated (1) | ​ | Total | ​
Three months ended March 31, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue–Antero Resources | ​ | $ | 163,129 | ​ | ​ | 98,184 | ​ | ​ | — | ​ | ​ | 261,313 | ​
Amortization of customer relationships | ​ | ​ | (9,238) | ​ | ​ | (8,367) | ​ | ​ | — | ​ | ​ | (17,605) | ​
Total revenues | ​ | ​ | 153,891 | ​ | ​ | 89,817 | ​ | ​ | — | ​ | ​ | 243,708 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct operating | ​ | ​ | 13,391 | ​ | ​ | 35,337 | ​ | ​ | — | ​ | ​ | 48,728 | ​
General and administrative (excluding equity-based compensation) | ​ | ​ | 5,044 | ​ | ​ | 2,905 | ​ | ​ | 2,250 | ​ | ​ | 10,199 | ​
Facility idling | ​ | ​ | — | ​ | ​ | 8,678 | ​ | ​ | — | ​ | ​ | 8,678 | ​
Impairment of goodwill | ​ | ​ | 575,461 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 575,461 | ​
Impairment of property and equipment | ​ | ​ | — | ​ | ​ | 89,083 | ​ | ​ | — | ​ | ​ | 89,083 | ​
Equity-based compensation | ​ | ​ | 2,533 | ​ | ​ | 555 | ​ | ​ | 250 | ​ | ​ | 3,338 | ​
Depreciation | ​ | ​ | 13,050 | ​ | ​ | 14,293 | ​ | ​ | — | ​ | ​ | 27,343 | ​
Accretion of asset retirement obligations | ​ | ​ | — | ​ | ​ | 42 | ​ | ​ | — | ​ | ​ | 42 | ​
Total operating expenses | ​ | ​ | 609,479 | ​ | ​ | 150,893 | ​ | ​ | 2,500 | ​ | ​ | 762,872 | ​
Operating loss | ​ | $ | (455,588) | ​ | ​ | (61,076) | ​ | ​ | (2,500) | ​ | ​ | (519,164) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in earnings of unconsolidated affiliates | ​ | $ | 19,077 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 19,077 | ​
Total assets | ​ | $ | 4,347,932 | ​ | ​ | 1,184,095 | ​ | ​ | 249,332 | ​ | ​ | 5,781,359 | ​
Additions to property and equipment, net | ​ | $ | 54,659 | ​ | ​ | 13,324 | ​ | ​ | — | ​ | ​ | 67,983 | ​
​
(1) | Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.

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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 + Details
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