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Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2023

Reportable Segments

Schedule of operating results and assets of the Company's reportable segments


		Year Ended December 31, 2021
		Gathering and			Water						Consolidated
(in thousands)		Processing			Handling			Unallocated ⁽¹⁾			Total
Revenues:
Revenue–Antero Resources		$	749,737			218,621			—			968,358
Revenue–third-party			—			516			—			516
Amortization of customer relationships			(37,086)			(33,586)			—			(70,672)
Total revenues			712,651			185,551			—			898,202
Operating expenses:
Direct operating			65,983			91,137			—			157,120
General and administrative			36,380			22,817			4,641			63,838
Facility idling			—			3,997			—			3,997
Depreciation			59,692			49,098			—			108,790
Impairment of property and equipment			4,608			434			—			5,042
Accretion of asset retirement obligations			—			460			—			460
Loss on asset sale			3,628			—			—			3,628
Total operating expenses			170,291			167,943			4,641			342,875
Operating income		$	542,360			17,608			(4,641)			555,327

Equity in earnings of unconsolidated affiliates		$	90,451			—			—			90,451
Additions to property and equipment		$	186,588			46,237			—			232,825

(1)	Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.


		Year Ended December 31, 2022
		Gathering and			Water						Consolidated
(in thousands)		Processing			Handling			Unallocated ⁽¹⁾			Total
Revenues:
Revenue–Antero Resources		$	743,265			244,770			—			988,035
Revenue–third-party			—			2,622			—			2,622
Amortization of customer relationships			(37,086)			(33,586)			—			(70,672)
Total revenues			706,179			213,806			—			919,985
Operating expenses:
Direct operating			75,889			104,365			—			180,254
General and administrative			38,972			17,495			5,658			62,125
Facility idling			—			4,166			—			4,166
Depreciation			81,390			50,372			—			131,762
Impairment of property and equipment			1,130			2,572			—			3,702
Accretion of asset retirement obligations			—			222			—			222
Loss on settlement of asset retirement obligations			—			539			—			539
Gain on asset sale			(2,120)			(131)			—			(2,251)
Total operating expenses			195,261			179,600			5,658			380,519
Operating income		$	510,918			34,206			(5,658)			539,466

Equity in earnings of unconsolidated affiliates		$	94,218			—			—			94,218
Additions to property and equipment		$	227,561			71,363			—			298,924

(1)	Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.


		Year Ended December 31, 2023
		Gathering and			Water						Consolidated
(in thousands)		Processing			Handling			Unallocated ⁽¹⁾			Total
Revenues:
Revenue–Antero Resources		$	842,362			268,667			—			1,111,029
Revenue–third-party			—			1,414			—			1,414
Amortization of customer relationships			(37,086)			(33,586)			—			(70,672)
Total revenues			805,276			236,495			—			1,041,771
Operating expenses:
Direct operating			95,507			117,658			—			213,165
General and administrative			45,845			19,859			5,364			71,068
Facility idling			—			2,459			—			2,459
Depreciation			83,409			52,650			—			136,059
Impairment of property and equipment			133			13			—			146
Accretion of asset retirement obligations			—			177			—			177
Loss on settlement of asset retirement obligations			—			805			—			805
Loss (gain) on asset sale			6,039			(9)			—			6,030
Total operating expenses			230,933			193,612			5,364			429,909
Operating income		$	574,343			42,883			(5,364)			611,862

Equity in earnings of unconsolidated affiliates		$	105,456			—			—			105,456
Additions to property and equipment		$	130,305			53,428			—			183,733

(1)	Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.

The summarized total assets of the Company’s reportable segments are as follows:


								December 31,
(in thousands)								2022			2023
Gathering and Processing								$	4,711,069			4,691,827
Water Handling									1,079,297			1,045,725
Unallocated ⁽¹⁾									954			66
Total assets								$	5,791,320			5,737,618

(1)	Certain assets that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis.