Western Midstream Partners LP
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
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Consolidated Balance Sheets as of December 31, 202 and
| December 31, | ||
|---|---|---|
| thousands except number of units | 2024 | 2023 |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $1,090,464 | $272,787 |
| Accounts receivable, net | 701,838 | 666,637 |
| Other current assets | 54,888 | 52,986 |
| Total current assets | 1,847,190 | 992,410 |
| Property, plant, and equipment | ||
| Cost | 15,509,910 | 14,945,431 |
| Less accumulated depreciation | 5,795,301 | 5,290,415 |
| Net property, plant, and equipment | 9,714,609 | 9,655,016 |
| Goodwill | 4,783 | 4,783 |
| Other intangible assets | 649,740 | 681,408 |
| Equity investments | 541,435 | 904,535 |
| Other assets (1) | 387,028 | 233,455 |
| Total assets (2) | $13,144,785 | $12,471,607 |
| LIABILITIES, EQUITY, AND PARTNERS’ CAPITAL | ||
| Current liabilities | ||
| Accounts and imbalance payables | $312,945 | $362,451 |
| Short-term debt | 1,011,032 | 617,748 |
| Accrued ad valorem taxes | 38,319 | 61,285 |
| Accrued liabilities | 329,398 | 262,572 |
| Total current liabilities | 1,691,694 | 1,304,056 |
| Long-term liabilities | ||
| Long-term debt | 6,926,647 | 7,283,556 |
| Deferred income taxes | 29,679 | 15,468 |
| Asset retirement obligations | 370,195 | 359,185 |
| Other liabilities | 751,400 | 480,212 |
| Total long-term liabilities | 8,077,921 | 8,138,421 |
| Total liabilities (3) | 9,769,615 | 9,442,477 |
| Equity and partners’ capital | ||
| Common units (380,556,643 and 379,519,983 units issued and outstanding at December 31, 2024 and 2023, respectively) | 3,224,802 | 2,894,231 |
| General partner units (9,060,641 units issued and outstanding at December 31, 2024 and 2023) | 10,803 | 3,193 |
| Total partners’ capital | 3,235,605 | 2,897,424 |
| Noncontrolling interests | 139,565 | 131,706 |
| Total equity and partners’ capital | 3,375,170 | 3,029,130 |
| Total liabilities, equity, and partners’ capital | $13,144,785 | $12,471,607 |
(1)Other assets includes $5.5 million and $5.7 million of NGLs line-fill inventory as of December 31, 2024 and 2023, respectively. Other assets also includes $110.3 million and $96.3 million of materials and supplies inventory as of December 31, 2024 and 2023, respectively.
(2)Total assets includes related-party amounts of $991.1 million and $1.3 billion as of December 31, 2024 and 2023, respectively, which includes related-party Accounts receivable, net of $401.3 million and $358.1 million as of December 31, 2024 and 2023, respectively. See Note 6.
(3)Total liabilities includes related-party amounts of $529.7 million and $378.8 million as of December 31, 2024 and 2023, respectively. See Note 6.
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