Western Midstream Operating, LP
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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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.
Sep 30, 2026 · Filed Nov 4, 2026
WES$41.00+2.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| thousands | 2026 | 2025 |
| Cash flows from operating activities | ||
| Net income (loss) | $1,123,470 | $1,016,496 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 630,147 | 512,896 |
| Long-lived asset and other impairments | 1,716 | 12,251 |
| Non-cash equity-based compensation expense | 36,502 | 28,987 |
| Deferred income taxes | (2,409) | 2,236 |
| Accretion and amortization of long-term obligations, net | 2,537 | 6,130 |
| Equity income, net – related parties | (55,115) | (64,410) |
| Distributions from equity-investment earnings – related parties | 60,808 | 69,217 |
| (Gain) loss on divestiture and other, net (1) | 16,796 | 8,048 |
| (Gain) loss on early extinguishment of debt | 150 | — |
| Other | 282 | 286 |
| Changes in assets and liabilities: | ||
| (Increase) decrease in accounts receivable, net | (218,020) | (1,423) |
| Increase (decrease) in accounts and imbalance payables and accrued liabilities, net | 71,396 | (60,557) |
| Change in other items, net | (124,491) | 113,658 |
| Net cash provided by operating activities | 1,543,769 | 1,643,815 |
| Cash flows from investing activities | ||
| Capital expenditures | (808,365) | (505,783) |
| Acquisitions from third parties | (818,723) | — |
| Contributions to equity investments – related parties | (27,710) | — |
| Distributions from equity investments in excess of cumulative earnings – related parties | 13,988 | 26,000 |
| Proceeds from the sale of assets to third parties | — | 162 |
| (Increase) decrease in materials and supplies inventory and other | (19,181) | 3,329 |
| Net cash provided by (used in) investing activities | (1,659,991) | (476,292) |
| Cash flows from financing activities | ||
| Borrowings, net of debt issuance costs | 1,050,464 | (1,171) |
| Repayments of debt | (800,505) | (1,000,589) |
| Commercial paper borrowings (repayments), net | 265,771 | — |
| Increase (decrease) in outstanding checks | 8,349 | (3,180) |
| Distributions to WES Operating unitholders (1) | (1,169,875) | (1,073,936) |
| Distributions to Chipeta noncontrolling interest owner | (7,578) | — |
| Other | (6,596) | (2,354) |
| Net cash provided by (used in) financing activities | (659,970) | (2,081,230) |
| Net increase (decrease) in cash and cash equivalents | (776,192) | (913,707) |
| Cash and cash equivalents at beginning of period | 808,372 | 1,084,446 |
| Cash and cash equivalents at end of period | $32,180 | $170,739 |
| Supplemental disclosures | ||
| Interest paid, net of capitalized interest | $344,031 | $318,228 |
| Accrued capital expenditures | 125,123 | 62,118 |
| Income taxes paid (reimbursements received) | 13,491 | 2,301 |
| Asset retirement cost additions and revisions, net | 44,734 | 9,522 |
| Acquisition-related issuance of units | 851,963 | — |
| Distribution of receivable related to the WES unit redemption with Occidental (1) | 610,000 | — |
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