Western Midstream Partners LP
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of March , and December 31,
CONSOLIDATED BALANCE SHEETS
| thousands except number of units | March 31,2024 | December 31,2023 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $295,246 | $272,787 |
| Accounts receivable, net | 720,351 | 666,637 |
| Other current assets | 50,750 | 52,986 |
| Total current assets | 1,066,347 | 992,410 |
| Property, plant, and equipment | ||
| Cost | 15,157,635 | 14,945,431 |
| Less accumulated depreciation | 5,432,343 | 5,290,415 |
| Net property, plant, and equipment | 9,725,292 | 9,655,016 |
| Goodwill | 4,783 | 4,783 |
| Other intangible assets | 673,491 | 681,408 |
| Equity investments | 546,078 | 904,535 |
| Other assets (1) | 249,479 | 233,455 |
| Total assets (2) | $12,265,470 | $12,471,607 |
| LIABILITIES, EQUITY, AND PARTNERS’ CAPITAL | ||
| Current liabilities | ||
| Accounts and imbalance payables | $377,499 | $362,451 |
| Short-term debt | 108,394 | 617,748 |
| Accrued ad valorem taxes | 48,525 | 61,285 |
| Accrued liabilities | 173,721 | 262,572 |
| Total current liabilities | 708,139 | 1,304,056 |
| Long-term liabilities | ||
| Long-term debt | 7,272,079 | 7,283,556 |
| Deferred income taxes | 15,698 | 15,468 |
| Asset retirement obligations | 366,755 | 359,185 |
| Other liabilities | 526,508 | 480,212 |
| Total long-term liabilities | 8,181,040 | 8,138,421 |
| Total liabilities (3) | 8,889,179 | 9,442,477 |
| Equity and partners’ capital | ||
| Common units (380,490,138 and 379,519,983 units issued and outstanding at March 31, 2024, and December 31, 2023, respectively) | 3,225,562 | 2,894,231 |
| General partner units (9,060,641 units issued and outstanding at March 31, 2024, and December 31, 2023) | 11,313 | 3,193 |
| Total partners’ capital | 3,236,875 | 2,897,424 |
| Noncontrolling interests | 139,416 | 131,706 |
| Total equity and partners’ capital | 3,376,291 | 3,029,130 |
| Total liabilities, equity, and partners’ capital | $12,265,470 | $12,471,607 |
(1)Other assets includes $5.5 million and $5.7 million of NGLs line-fill inventory as of March 31, 2024, and December 31, 2023, respectively. Other assets also includes $107.1 million and $96.3 million of materials and supplies inventory as of March 31, 2024, and December 31, 2023, respectively.
(2)Total assets includes related-party amounts of $982.6 million and $1.3 billion as of March 31, 2024, and December 31, 2023, respectively, which includes related-party Accounts receivable, net of $389.7 million and $358.1 million as of March 31, 2024, and December 31, 2023, respectively. See Note 6.
(3)Total liabilities includes related-party amounts of $406.4 million and $378.8 million as of March 31, 2024, and December 31, 2023, respectively. See Note 6.
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