Kinetik Holdings Inc.(NYSE:KNTK) 
Kinetik Holdings Inc., formerly Altus Midstream Company, is a fully integrated pure-play Permian-to-Gulf Coast midstream company. The Company provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil and ...
Share this website to your friends
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating revenues: | ||||||||||||||||||||||||||||||||||||
service revenue | 101,578,000 | 103,338,000 | 112,654,000 | 127,926,000 | 106,290,000 | 103,100,000 | 96,415,000 | 102,195,000 | 107,426,000 | 104,349,000 | 102,551,000 | 103,425,000 | 103,832,000 | 107,597,000 | 102,080,000 | 80,445,000 | ||||||||||||||||||||
product revenue | 325,525,000 | 357,608,000 | 311,590,000 | 312,505,000 | 275,894,000 | 290,423,000 | 260,102,000 | 236,567,000 | 235,876,000 | 221,280,000 | 191,430,000 | 173,824,000 | 187,971,000 | 213,803,000 | 229,651,000 | 174,928,000 | ||||||||||||||||||||
other revenue | 3,316,000 | 3,023,000 | 2,494,000 | 2,832,000 | 3,532,000 | 2,839,000 | 2,940,000 | 2,632,000 | 5,566,000 | 4,672,000 | 2,222,000 | 3,791,000 | 3,690,000 | 3,776,000 | 3,841,000 | 1,876,000 | ||||||||||||||||||||
total operating revenues | 430,419,000 | 463,969,000 | 426,738,000 | 443,263,000 | 385,716,000 | 396,362,000 | 359,457,000 | 341,394,000 | 348,868,000 | 330,301,000 | 296,203,000 | 281,040,000 | 295,493,000 | 325,176,000 | 335,572,000 | 257,249,000 | ||||||||||||||||||||
operating costs and expenses: | ||||||||||||||||||||||||||||||||||||
costs of sales | 170,496,000 | 235,391,000 | 156,697,000 | 223,364,000 | 175,832,000 | 144,586,000 | 146,513,000 | 153,687,000 | 141,621,000 | 147,756,000 | 110,467,000 | 115,877,000 | 123,321,000 | 145,208,000 | 152,714,000 | 120,275,000 | ||||||||||||||||||||
operating expenses | 63,617,000 | 76,137,000 | 68,045,000 | 63,603,000 | 52,692,000 | 55,804,000 | 44,068,000 | 43,406,000 | 42,716,000 | 42,925,000 | 39,906,000 | 35,973,000 | 36,293,000 | 35,845,000 | 35,280,000 | 29,871,000 | ||||||||||||||||||||
ad valorem taxes | 8,402,000 | 7,099,000 | 6,559,000 | 6,791,000 | 6,314,000 | 5,896,000 | 6,212,000 | 6,292,000 | 6,668,000 | 5,607,000 | 3,889,000 | 5,458,000 | 1,034,000 | 5,903,000 | 5,880,000 | 4,153,000 | ||||||||||||||||||||
general and administrative expenses | 38,684,000 | 30,096,000 | 24,244,000 | 37,592,000 | 39,311,000 | 29,619,000 | 31,091,000 | 34,136,000 | 24,775,000 | 22,751,000 | 22,869,000 | 27,511,000 | 22,088,000 | 23,468,000 | 25,960,000 | 22,752,000 | 745,271.25 | 2,266,757 | 546,061 | 168,267 | 197,025 | 276,956 | 1,063,946 | |||||||||||||
depreciation and amortization expenses | 100,800,000 | 95,409,000 | 93,763,000 | 92,673,000 | 87,947,000 | 87,583,000 | 75,061,000 | 73,606,000 | 72,715,000 | 69,935,000 | 69,482,000 | 68,854,000 | ||||||||||||||||||||||||
loss on disposal of assets | 23,000 | 50,000 | -25,000 | -40,000 | -50,000 | -76,000 | 4,166,000 | 4,236,000 | 2,927,000 | 12,137,000 | 102,000 | 9,000 | 3,946,000 | 8,546,000 | 110,000 | |||||||||||||||||||||
total operating costs and expenses | 382,022,000 | 444,182,000 | 349,283,000 | 423,983,000 | 362,046,000 | 323,488,000 | 302,869,000 | 315,293,000 | 292,731,000 | 291,901,000 | 258,750,000 | 253,775,000 | 250,481,000 | 279,375,000 | 294,961,000 | 238,184,000 | ||||||||||||||||||||
operating income | 48,397,000 | 19,787,000 | 77,455,000 | 19,280,000 | 23,670,000 | 72,874,000 | 56,588,000 | 26,101,000 | 56,137,000 | 38,400,000 | 37,453,000 | 27,265,000 | 45,012,000 | 45,801,000 | 40,611,000 | 19,065,000 | 24,369,000 | 14,590,000 | 13,606,000 | 13,047,000 | 12,235,000 | 18,948,000 | 11,711,000 | 18,641,000 | -1,278,497,000 | -6,583,000 | -4,942,000 | 4,231,000 | ||||||||
yoy | 104.47% | -72.85% | 36.88% | -26.13% | -57.84% | 89.78% | 51.09% | -4.27% | 24.72% | -16.16% | -7.78% | 43.01% | 84.71% | 213.92% | 198.48% | 46.13% | 99.17% | -23.00% | 16.18% | -30.01% | -100.96% | -387.83% | -336.97% | 340.58% | ||||||||||||
qoq | 144.59% | -74.45% | 301.74% | -18.55% | -67.52% | 28.78% | 116.80% | -53.50% | 46.19% | 2.53% | 37.37% | -39.43% | -1.72% | 12.78% | 113.01% | -21.77% | 67.03% | 7.23% | 4.28% | 6.64% | -35.43% | 61.80% | -37.18% | -101.46% | 19321.19% | 33.21% | -216.80% | |||||||||
operating margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 43.26% | 42.23% | 38.23% | 38.21% | 34.70% | 47.17% | 37.04% | 45.73% | -2918.68% | -19.36% | -20.47% | 12.50% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% |
other income: | ||||||||||||||||||||||||||||||||||||
interest and other income | 163,000 | 303,000 | 2,732,000 | 785,000 | 530,000 | 1,872,000 | 309,000 | 91,000 | 379,000 | 289,000 | 1,042,000 | 294,000 | 239,000 | 250,000 | ||||||||||||||||||||||
loss on debt extinguishment | -635,000 | -525,000 | ||||||||||||||||||||||||||||||||||
gain on sale of equity method investment | -35,000 | 29,953,000 | 59,884,000 | |||||||||||||||||||||||||||||||||
interest expense | -59,422,000 | -61,721,000 | -56,514,000 | -55,714,000 | -49,690,000 | -66,029,000 | -54,049,000 | -47,467,000 | -75,411,000 | -45,009,000 | -16,126,000 | -69,308,000 | -56,667,000 | -40,464,000 | -25,347,000 | -26,774,000 | ||||||||||||||||||||
equity in earnings of unconsolidated affiliates | 51,879,000 | 58,289,000 | 58,705,000 | 57,478,000 | 43,523,000 | 53,244,000 | 55,955,000 | 60,469,000 | 53,187,000 | 50,754,000 | 49,610,000 | 46,464,000 | 60,250,000 | 45,003,000 | 47,786,000 | 27,917,000 | ||||||||||||||||||||
total other income | 408,029,000 | -3,129,000 | 4,288,000 | 2,549,000 | -5,672,000 | 19,040,000 | 61,574,000 | 13,093,000 | -23,721,000 | 6,034,000 | 34,526,000 | -22,550,000 | 3,822,000 | 5,027,000 | 90,999,000 | 3,000,000 | -68,456,000 | 37,773,000 | 62,850,000 | 12,040,000 | 49,269,000 | 10,787,000 | 6,243,000 | -45,856,000 | 13,249,000 | -1,588,000 | -508,000 | 2,431,000 | ||||||||
income before income taxes | 456,426,000 | 16,658,000 | 81,743,000 | 21,829,000 | 17,998,000 | 91,914,000 | 118,162,000 | 39,194,000 | 32,416,000 | 44,434,000 | 71,979,000 | 4,715,000 | 48,834,000 | 50,828,000 | 131,610,000 | 22,065,000 | 307,827.5 | -604,600 | 882,930 | 952,980 | 594,687 | 477,002 | -562,921 | |||||||||||||
income tax expense | 39,725,000 | 1,109,000 | 7,327,000 | 2,567,000 | 1,774,000 | 8,260,000 | 9,214,000 | 3,787,000 | -234,938,000 | 1,303,000 | 311,000 | 416,000 | 372,000 | 1,406,000 | 162,000 | 676,000 | ||||||||||||||||||||
net income including noncontrolling interest | 416,701,000 | 15,549,000 | 74,416,000 | 19,262,000 | 57,002,250 | 83,654,000 | 108,948,000 | 35,407,000 | 267,354,000 | 43,131,000 | 71,668,000 | 4,299,000 | 48,462,000 | 49,422,000 | 131,448,000 | 21,389,000 | 5,728,000 | |||||||||||||||||||
net income attributable to common unit limited partners | 273,481,000 | 10,284,000 | 50,771,000 | 13,132,000 | 10,715,000 | 57,891,000 | 71,756,000 | 23,857,000 | 19,942,000 | 27,551,000 | 46,654,000 | 2,863,000 | 32,966,000 | 33,778,000 | 15,508,000 | 12,531,000 | ||||||||||||||||||||
net income attributable to holders of class a common stock | 143,220,000 | 5,265,000 | 23,645,000 | |||||||||||||||||||||||||||||||||
net income attributable to holders of class a common stock, per share | ||||||||||||||||||||||||||||||||||||
basic | 2.25 | 0.03 | 0.33 | 0.05 | 0.35 | 0.54 | 0.12 | 4.67 | 0.21 | 0.41 | -0.06 | 0.24 | 1.04 | 0.06 | 0.21 | -8.28 | 1.4 | 3.11 | 0.05 | 2.5 | 0.61 | -0.13 | -0.02 | -0.06 | 0.01 | |||||||||||
diluted | 2.22 | 0.03 | 0.33 | 0.05 | 0.35 | 0.54 | 0.12 | 1.95 | 0.21 | 0.41 | -0.06 | 0.24 | 1.04 | 0.06 | 0.21 | -7.69 | 1.26 | 1.31 | 0.05 | 2.51 | 0.3 | -0.14 | -0.023 | -0.07 | 0.01 | |||||||||||
weighted-average shares | ||||||||||||||||||||||||||||||||||||
basic | 61,962 | 61,866 | 61,721 | 60,162 | 59,284 | 59,811 | 59,792 | 57,869 | 51,823 | 53,340 | 50,553 | 47,392 | 41,326 | 41,816 | 39,297 | 18,696 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 74,929 | 74,929 | 74,929 | 74,929 | 173,125 | 11,009,468 | 11,066,074 | 11,137,391 | 11,191,898 | ||||
diluted | 62,665 | 62,428 | 62,228 | 61,001 | 60,115 | 60,424 | 60,279 | 58,392 | 146,197 | 53,463 | 50,625 | 47,605 | 41,361 | 41,855 | 39,329 | 18,713 | 16,246 | 16,246 | 32,588 | 3,746 | 16,246 | 97,355 | 3,746 | 324,929 | 74,929 | 324,929 | 324,929 | 173,125 | 11,009,468 | 47,165,140 | 47,165,140 | 47,165,140 | ||||
net income attributable to class a common stock shareholders | 6,130,000 | 5,509,000 | 25,763,000 | 37,192,000 | 11,550,000 | 247,412,000 | 15,580,000 | 25,014,000 | 1,436,000 | |||||||||||||||||||||||||||
net income attributable to class a common shareholders, per share | ||||||||||||||||||||||||||||||||||||
basic | 2.25 | 0.03 | 0.33 | 0.05 | 0.35 | 0.54 | 0.12 | 4.67 | 0.21 | 0.41 | -0.06 | 0.24 | 1.04 | 0.06 | 0.21 | -8.28 | 1.4 | 3.11 | 0.05 | 2.5 | 0.61 | -0.13 | -0.02 | -0.06 | 0.01 | |||||||||||
diluted | 2.22 | 0.03 | 0.33 | 0.05 | 0.35 | 0.54 | 0.12 | 1.95 | 0.21 | 0.41 | -0.06 | 0.24 | 1.04 | 0.06 | 0.21 | -7.69 | 1.26 | 1.31 | 0.05 | 2.51 | 0.3 | -0.14 | -0.023 | -0.07 | 0.01 | |||||||||||
gain on redemption of mandatorily redeemable preferred units | 5,087,000 | 4,493,000 | ||||||||||||||||||||||||||||||||||
gain on embedded derivative | 488,000 | |||||||||||||||||||||||||||||||||||
net income attributable to preferred unit limited partners | 708,000 | 109,502,000 | 4,993,000 | 89,244,000 | 29,166,000 | 24,004,000 | 19,492,000 | 19,548,000 | 19,332,000 | 18,764,000 | 18,262,000 | 17,186,000 | 17,480,000 | 4,143,000 | ||||||||||||||||||||||
net income attributable to common shareholders | 267,354,000 | 43,131,000 | 71,668,000 | 4,299,000 | 48,462,000 | 48,714,000 | 21,946,000 | 16,396,000 | -136,042,000 | 20,523,000 | 49,837,000 | 2,997,000 | 40,744,000 | 9,990,000 | -45,054,000 | -7,395,250 | -25,668,000 | |||||||||||||||||||
net income attributable to class a common shareholders per share | ||||||||||||||||||||||||||||||||||||
basic | 2.25 | 0.03 | 0.33 | 0.05 | 0.35 | 0.54 | 0.12 | 4.67 | 0.21 | 0.41 | -0.06 | 0.24 | 1.04 | 0.06 | 0.21 | -8.28 | 1.4 | 3.11 | 0.05 | 2.5 | 0.61 | -0.13 | -0.02 | -0.06 | 0.01 | |||||||||||
diluted | 2.22 | 0.03 | 0.33 | 0.05 | 0.35 | 0.54 | 0.12 | 1.95 | 0.21 | 0.41 | -0.06 | 0.24 | 1.04 | 0.06 | 0.21 | -7.69 | 1.26 | 1.31 | 0.05 | 2.51 | 0.3 | -0.14 | -0.023 | -0.07 | 0.01 | |||||||||||
loss on embedded derivative | ||||||||||||||||||||||||||||||||||||
depreciation and amortization | 48,152,250 | 65,005,000 | 66,581,000 | 61,023,000 | ||||||||||||||||||||||||||||||||
gain on debt extinguishment | -27,975,000 | |||||||||||||||||||||||||||||||||||
net income attributable to class a common shareholders | 6,309,750 | 14,936,000 | 6,438,000 | 3,865,000 | -31,031,000 | 5,244,000 | 11,663,000 | 180,000 | 9,396,000 | 2,303,000 | -9,853,000 | -1,514,250 | -4,864,000 | 1,100,000 | ||||||||||||||||||||||
weighted-average shares ** | ||||||||||||||||||||||||||||||||||||
basic | 61,962 | 61,866 | 61,721 | 60,162 | 59,284 | 59,811 | 59,792 | 57,869 | 51,823 | 53,340 | 50,553 | 47,392 | 41,326 | 41,816 | 39,297 | 18,696 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 74,929 | 74,929 | 74,929 | 74,929 | 173,125 | 11,009,468 | 11,066,074 | 11,137,391 | 11,191,898 | ||||
diluted | 62,665 | 62,428 | 62,228 | 61,001 | 60,115 | 60,424 | 60,279 | 58,392 | 146,197 | 53,463 | 50,625 | 47,605 | 41,361 | 41,855 | 39,329 | 18,713 | 16,246 | 16,246 | 32,588 | 3,746 | 16,246 | 97,355 | 3,746 | 324,929 | 74,929 | 324,929 | 324,929 | 173,125 | 11,009,468 | 47,165,140 | 47,165,140 | 47,165,140 | ||||
unrealized gain on embedded derivative | 91,448,000 | |||||||||||||||||||||||||||||||||||
unrealized loss on embedded derivative | -2,886,000 | |||||||||||||||||||||||||||||||||||
revenues: | ||||||||||||||||||||||||||||||||||||
midstream services revenue — affiliate | 44,183,000 | 34,548,000 | 32,467,000 | 31,529,000 | 33,462,000 | 38,869,000 | 31,616,000 | 40,767,000 | 43,804,000 | 34,009,000 | 24,139,000 | 33,847,000 | ||||||||||||||||||||||||
product sales — third parties | 2,393,000 | 3,126,000 | 2,617,000 | 1,795,000 | 1,303,000 | |||||||||||||||||||||||||||||||
total revenues | 56,330,000 | 34,548,000 | 35,593,000 | 34,146,000 | 35,257,000 | 40,172,000 | 31,616,000 | 40,767,000 | 43,804,000 | 34,009,000 | 24,139,000 | 33,847,000 | ||||||||||||||||||||||||
yoy | 59.77% | -14.00% | 12.58% | -16.24% | -19.51% | 18.12% | 30.97% | 20.44% | ||||||||||||||||||||||||||||
qoq | 63.05% | -2.94% | 4.24% | -3.15% | -12.23% | 27.06% | -22.45% | -6.93% | 28.80% | 40.89% | -28.68% | |||||||||||||||||||||||||
costs and expenses: | ||||||||||||||||||||||||||||||||||||
costs of product sales | 1,336,000 | 3,351,000 | 1,993,000 | 1,295,000 | 1,177,000 | |||||||||||||||||||||||||||||||
operations and maintenance | 8,364,000 | 9,642,000 | 7,340,000 | 7,402,000 | 8,934,000 | 8,960,000 | 9,508,000 | 10,591,000 | 12,392,000 | 13,063,000 | 14,005,000 | 16,399,000 | ||||||||||||||||||||||||
general and administrative | 3,832,000 | 3,420,000 | 3,475,000 | 3,455,000 | 3,053,000 | 2,936,000 | 2,988,000 | 4,178,000 | 1,987,000 | 3,242,000 | 2,081,000 | 2,991,000 | ||||||||||||||||||||||||
depreciation and accretion | 4,107,000 | 4,085,000 | 4,009,000 | 4,000,000 | 3,961,000 | 4,008,000 | 4,062,000 | 3,914,000 | 13,012,000 | 11,710,000 | 9,107,000 | 7,651,000 | ||||||||||||||||||||||||
impairments | 441,000 | 1,291,381,000 | 9,338,000 | |||||||||||||||||||||||||||||||||
taxes other than income | 3,455,000 | 2,811,000 | 3,812,000 | 3,808,000 | 4,136,000 | 4,143,000 | 3,347,000 | 3,443,000 | 3,529,000 | 3,239,000 | 3,888,000 | 2,575,000 | ||||||||||||||||||||||||
total costs and expenses | 31,961,000 | 19,958,000 | 21,987,000 | 21,099,000 | 23,022,000 | 21,224,000 | 19,905,000 | 22,126,000 | 1,322,301,000 | 40,592,000 | 29,081,000 | 29,616,000 | ||||||||||||||||||||||||
unrealized derivative instrument gain | 63,627,000 | 4,010,000 | 31,006,000 | |||||||||||||||||||||||||||||||||
income from equity method interests | 31,131,000 | 32,479,000 | 28,466,000 | 21,688,000 | 11,198,000 | 14,320,000 | 16,923,000 | 16,298,000 | 18,533,000 | 1,564,000 | 270,000 | |||||||||||||||||||||||||
warrants valuation adjustment | 442,000 | 664,000 | 222,000 | -664,000 | ||||||||||||||||||||||||||||||||
other | 1,253,000 | 620,000 | 3,155,000 | 7,544,000 | -1,951,000 | -97,000 | -177,000 | -605,000 | -17,000 | |||||||||||||||||||||||||||
financing costs, net of capitalized interest | 2,711,000 | 2,674,000 | 2,615,000 | 2,598,000 | 1,212,000 | 413,000 | 292,000 | 273,000 | 284,000 | 522,000 | 478,000 | 508,000 | ||||||||||||||||||||||||
net income before income taxes | -46,798,000 | 49,689,000 | 73,841,000 | 22,489,000 | 60,292,000 | 29,322,000 | 17,662,000 | -27,488,000 | -2,117,000 | -8,693,000 | -5,928,000 | 6,154,000 | ||||||||||||||||||||||||
current income tax benefit | -696,000 | |||||||||||||||||||||||||||||||||||
net income including noncontrolling interests | -46,798,000 | 49,689,000 | 73,841,000 | 22,489,000 | 60,292,000 | 29,322,000 | 17,662,000 | -26,792,000 | -1,989,500 | -8,188,000 | -5,498,000 | |||||||||||||||||||||||||
net income attributable to apache limited partner | -105,011,000 | 15,279,000 | 38,174,000 | 2,817,000 | 31,348,000 | 7,687,000 | -35,201,000 | |||||||||||||||||||||||||||||
interest income | 1,000 | 1,000 | 2,000 | 7,000 | 22,000 | 617,000 | 806,000 | 2,161,000 | ||||||||||||||||||||||||||||
unrealized derivative instrument loss | -16,529,000 | 40,022,000 | -3,533,000 | -10,585,000 | -61,984,000 | -4,701,000 | -3,769,000 | |||||||||||||||||||||||||||||
deferred income tax benefit | -127,500 | -505,000 | ||||||||||||||||||||||||||||||||||
net loss attributable to common shareholders | -1,102,000 | -9,641,000 | ||||||||||||||||||||||||||||||||||
net loss attributable to apache limited partner | -847,000 | -5,881,000 | -20,804,000 | -7,348,000 | ||||||||||||||||||||||||||||||||
net loss attributable to class a common shareholders | -255,000 | -2,293,000 | ||||||||||||||||||||||||||||||||||
net loss attributable to class a common shareholders, per share | ||||||||||||||||||||||||||||||||||||
basic | -0.07 | |||||||||||||||||||||||||||||||||||
diluted | -0.07 | |||||||||||||||||||||||||||||||||||
deferred income tax expense | -430,000 | 426,000 | ||||||||||||||||||||||||||||||||||
loss from equity method interests | -1,297,000 | |||||||||||||||||||||||||||||||||||
net income attributable to class a common shareholders, per share | ||||||||||||||||||||||||||||||||||||
basic and diluted | -0.03 | |||||||||||||||||||||||||||||||||||
weighted-average shares | ||||||||||||||||||||||||||||||||||||
basic and diluted | 74,929 | 10,682,217 | 11,042,745 | |||||||||||||||||||||||||||||||||
net income attributable to noncontrolling interest | 4,628,000 | |||||||||||||||||||||||||||||||||||
revenues | ||||||||||||||||||||||||||||||||||||
expenses | ||||||||||||||||||||||||||||||||||||
franchise tax expense | 37,509.5 | 50,013 | 50,012 | 50,013 | 101,150 | 55,900 | 43,000 | |||||||||||||||||||||||||||||
total expenses | 782,780.75 | 2,316,770 | 596,073 | 218,280 | 298,175 | 332,856 | 1,106,946 | |||||||||||||||||||||||||||||
income from operations | -782,780.75 | -2,316,770 | -596,073 | -218,280 | -298,175 | -332,856 | -1,106,946 | |||||||||||||||||||||||||||||
other income – investment income on trust account | 1,090,608.25 | 1,712,170 | 1,479,003 | 1,171,260 | ||||||||||||||||||||||||||||||||
current income tax expense | -221,852.5 | -349,053 | -300,088 | -238,269 | -269,182 | -256,345 | -170,349 | |||||||||||||||||||||||||||||
net income attributable to common shares | 85,975 | -953,653 | 582,842 | 714,711 | -128,153.25 | 220,657 | ||||||||||||||||||||||||||||||
weighted-average number of shares outstanding: | ||||||||||||||||||||||||||||||||||||
basic | 61,962 | 61,866 | 61,721 | 60,162 | 59,284 | 59,811 | 59,792 | 57,869 | 51,823 | 53,340 | 50,553 | 47,392 | 41,326 | 41,816 | 39,297 | 18,696 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 3,746 | 74,929 | 74,929 | 74,929 | 74,929 | 173,125 | 11,009,468 | 11,066,074 | 11,137,391 | 11,191,898 | ||||
diluted | 62,665 | 62,428 | 62,228 | 61,001 | 60,115 | 60,424 | 60,279 | 58,392 | 146,197 | 53,463 | 50,625 | 47,605 | 41,361 | 41,855 | 39,329 | 18,713 | 16,246 | 16,246 | 32,588 | 3,746 | 16,246 | 97,355 | 3,746 | 324,929 | 74,929 | 324,929 | 324,929 | 173,125 | 11,009,468 | 47,165,140 | 47,165,140 | 47,165,140 | ||||
net income per common share: | ||||||||||||||||||||||||||||||||||||
basic | 0.008 | -0.09 | 0.05 | 0.06 | -0.013 | 0.02 | ||||||||||||||||||||||||||||||
diluted | 0.003 | -0.09 | 0.01 | 0.02 | -0.013 | |||||||||||||||||||||||||||||||
other income — investment income on trust account | 338,470.75 | 809,858 | 544,025 | |||||||||||||||||||||||||||||||||
net loss attributable to common shares | -733,270 | |||||||||||||||||||||||||||||||||||
weighted-average number of shares outstanding: | ||||||||||||||||||||||||||||||||||||
basic and diluted | 74,929 | 10,682,217 | 11,042,745 | |||||||||||||||||||||||||||||||||
net loss per common share: | ||||||||||||||||||||||||||||||||||||
basic and diluted | -0.07 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 3,951,000 | 7,737,000 | 10,733,000 | 8,845,000 | 3,606,000 | 20,438,000 | 12,549,000 | 9,756,000 | 4,510,000 | 68,000 | 2,237,000 | 1,984,000 | 6,394,000 | 131,963,000 | 108,988,000 | 75,092,000 | 51,306,000 | 24,188,000 | 1,983,000 | 1,880,000 | 19,301,000 | 5,983,000 | 2,594,000 | 376,920,000 | 177,438,000 | 449,935,000 | ||||||||||
accounts receivable | 85,276,000 | 77,362,000 | 62,913,000 | 122,527,000 | 111,940,000 | 65,615,000 | 94,438,000 | 209,878,000 | 215,721,000 | 230,572,000 | 181,536,000 | 199,028,000 | 204,036,000 | 2,249,000 | 1,956,000 | 1,259,000 | 1,033,000 | 556,000 | ||||||||||||||||||
accounts receivable pledged | 165,200,000 | 178,600,000 | 189,300,000 | 148,800,000 | 140,200,000 | 150,000,000 | 148,800,000 | |||||||||||||||||||||||||||||
derivative assets | 13,906,000 | 7,463,000 | 12,799,000 | 2,285,000 | 2,308,000 | 6,276,000 | 11,256,000 | 10,264,000 | 7,812,000 | 21,635,000 | 27,604,000 | 13,834,000 | 6,963,000 | |||||||||||||||||||||||
prepaid and other current assets | 33,703,000 | 43,908,000 | 36,884,000 | 32,541,000 | 36,705,000 | 43,549,000 | 32,258,000 | 27,391,000 | 29,256,000 | 36,193,000 | 36,458,000 | 31,366,000 | 24,474,000 | |||||||||||||||||||||||
current assets: - sum | 302,036,000 | 315,070,000 | 314,998,000 | 294,759,000 | 285,878,000 | 299,301,000 | 257,289,000 | 288,468,000 | 247,835,000 | 246,212,000 | ||||||||||||||||||||||||||
noncurrent assets: | ||||||||||||||||||||||||||||||||||||
property, plant and equipment | 3,866,236,000 | 3,808,365,000 | 3,731,821,000 | 3,640,569,000 | 3,433,864,000 | 3,226,884,000 | 3,192,726,000 | 2,747,483,000 | 2,743,227,000 | 2,720,447,000 | 2,691,906,000 | 2,634,173,000 | 2,535,212,000 | 211,231,000 | 209,650,000 | 209,323,000 | 215,402,000 | 214,389,000 | 212,940,000 | 1,494,658,000 | 1,489,640,000 | 1,391,341,000 | ||||||||||||||
intangible assets | 553,230,000 | 584,619,000 | 607,752,000 | 633,775,000 | 652,490,000 | 878,141,000 | 936,216,000 | 562,837,000 | 591,670,000 | 620,790,000 | 649,897,000 | 676,516,000 | 695,389,000 | |||||||||||||||||||||||
derivative asset, non-current | 1,467,000 | 1,135,000 | 1,868,000 | 83,000 | 65,000 | 1,593,000 | 504,000 | 134,000 | 165,000 | 2,444,000 | 124,000 | |||||||||||||||||||||||||
operating lease right-of-use assets | 71,147,000 | 83,071,000 | 79,561,000 | 35,356,000 | 29,814,000 | 38,101,000 | 47,509,000 | 27,015,000 | 37,569,000 | 48,102,000 | 58,581,000 | 64,097,000 | 28,551,000 | |||||||||||||||||||||||
deferred tax asset | 197,702,000 | 203,996,000 | 235,627,000 | 68,598,000 | 67,971,000 | 67,225,000 | 67,558,000 | |||||||||||||||||||||||||||||
deferred charges and other assets | 89,991,000 | 85,661,000 | 84,276,000 | 80,749,000 | 76,994,000 | 79,169,000 | 81,423,000 | 83,213,000 | 85,250,000 | 81,475,000 | 83,513,000 | 85,551,000 | 32,275,000 | |||||||||||||||||||||||
investments in unconsolidated affiliates | 2,008,725,000 | 2,085,499,000 | 2,105,252,000 | 2,112,347,000 | 2,117,878,000 | 2,141,947,000 | 2,075,888,000 | 2,526,278,000 | 2,540,989,000 | 2,519,213,000 | 2,490,112,000 | |||||||||||||||||||||||||
goodwill | 5,077,000 | 5,077,000 | 5,077,000 | 5,077,000 | 5,077,000 | 5,077,000 | 15,488,000 | 5,077,000 | 5,077,000 | 5,077,000 | 5,077,000 | 5,077,000 | 5,077,000 | |||||||||||||||||||||||
noncurrent assets: - sum | 6,793,575,000 | 6,887,003,000 | 6,715,685,000 | 6,520,178,000 | 6,574,583,000 | 6,560,971,000 | 6,190,295,000 | 5,997,548,000 | 5,979,086,000 | 5,878,443,000 | ||||||||||||||||||||||||||
total assets | 7,095,611,000 | 7,202,073,000 | 7,150,997,000 | 7,030,683,000 | 6,814,937,000 | 6,860,461,000 | 6,860,272,000 | 6,447,584,000 | 6,496,873,000 | 6,286,016,000 | 6,226,921,000 | 6,124,655,000 | 5,919,711,000 | 1,724,670,000 | 1,865,934,000 | 1,853,654,000 | 1,842,576,000 | 1,799,630,000 | 1,756,370,000 | 1,642,243,000 | 1,588,533,000 | 1,500,854,000 | 2,661,835,000 | 2,444,734,000 | 1,868,008,000 | 1,857,319,000 | 382,545,725 | 380,951,182 | 380,201,174 | 379,723,399 | 378,970,049 | 379,083,680 | 602,561 | |||
liabilities, noncontrolling interest and equity | ||||||||||||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||||||||||||
accounts payable | 42,067,000 | 31,610,000 | 36,573,000 | 38,672,000 | 27,239,000 | 17,160,000 | 44,462,000 | 16,467,000 | 34,000,000 | 17,624,000 | 36,248,000 | 18,323,000 | 17,899,000 | |||||||||||||||||||||||
accrued expenses | 172,050,000 | 228,378,000 | 218,625,000 | 233,725,000 | 186,714,000 | 191,789,000 | 157,318,000 | 170,075,000 | 177,421,000 | 188,062,000 | 112,086,000 | 176,307,000 | 173,914,000 | 2,738,179 | 1,049,049 | 740,520 | 742,688 | 685,175 | 932,000 | |||||||||||||||||
derivative liabilities | 5,506,000 | 4,078,000 | 3,215,000 | 27,466,000 | 10,011,000 | 6,743,000 | 7,476,000 | 14,811,000 | 1,734,000 | 4,863,000 | 4,585,000 | 6,662,000 | 5,718,000 | |||||||||||||||||||||||
current portion of operating lease liabilities | 43,614,000 | 44,472,000 | 42,483,000 | 15,810,000 | 18,701,000 | 25,483,000 | 32,985,000 | 24,987,000 | 29,203,000 | 33,434,000 | 37,826,000 | 39,773,000 | 22,810,000 | |||||||||||||||||||||||
current debt obligations | 165,200,000 | 178,600,000 | 189,300,000 | 148,800,000 | 140,200,000 | 150,000,000 | 148,800,000 | |||||||||||||||||||||||||||||
other current liabilities | 12,064,000 | 17,185,000 | 11,627,000 | 10,843,000 | 35,689,000 | 7,505,000 | 7,830,000 | 7,611,000 | 7,786,000 | 7,106,000 | 8,605,000 | 7,236,000 | 7,487,000 | 15,682,000 | 15,907,000 | 13,582,000 | 10,322,000 | 5,613,000 | 16,544,000 | 11,941,000 | 12,728,000 | 23,925,000 | 38,816,000 | 47,241,000 | 72,046,000 | 84,926,000 | ||||||||||
current liabilities: - sum | 440,501,000 | 504,323,000 | 475,316,000 | 418,554,000 | 398,680,000 | 398,871,000 | 233,951,000 | 251,089,000 | 199,350,000 | 248,301,000 | ||||||||||||||||||||||||||
noncurrent liabilities | ||||||||||||||||||||||||||||||||||||
long term debt | 3,627,720,000 | 3,956,330,000 | 3,736,972,000 | 3,568,457,000 | 3,363,996,000 | 3,279,689,000 | 3,258,403,000 | 3,517,115,000 | 3,562,809,000 | 3,606,962,000 | 3,625,799,000 | 3,511,648,000 | 3,368,510,000 | |||||||||||||||||||||||
contract liabilities | 30,959,000 | 33,030,000 | 20,932,000 | 20,354,000 | 20,985,000 | 21,858,000 | 22,960,000 | 24,837,000 | 25,761,000 | 25,500,000 | 24,535,000 | 21,991,000 | 22,693,000 | |||||||||||||||||||||||
operating lease liabilities | 29,033,000 | 39,900,000 | 38,046,000 | 20,170,000 | 11,490,000 | 13,147,000 | 15,098,000 | 3,014,000 | 9,349,000 | 15,633,000 | 21,715,000 | 25,238,000 | 6,023,000 | |||||||||||||||||||||||
other liabilities | 14,717,000 | 24,762,000 | 24,585,000 | 25,698,000 | 2,148,000 | 67,517,000 | 66,117,000 | 3,230,000 | 3,219,000 | 3,272,000 | 3,278,000 | 4,310,000 | 2,677,000 | |||||||||||||||||||||||
deferred tax liabilities | 22,299,000 | 18,200,000 | 18,193,000 | 17,852,000 | 16,761,000 | 16,014,000 | 15,404,000 | 13,785,000 | 13,244,000 | 12,693,000 | 11,621,000 | 11,381,000 | 11,018,000 | |||||||||||||||||||||||
noncurrent liabilities - sum | 3,724,728,000 | 4,072,554,000 | 3,654,465,000 | 3,417,317,000 | 3,399,306,000 | 3,378,703,000 | 3,562,399,000 | 3,664,442,000 | 3,690,709,000 | 3,601,691,000 | ||||||||||||||||||||||||||
total liabilities | 4,165,229,000 | 4,576,877,000 | 4,340,551,000 | 4,129,781,000 | 3,835,871,000 | 3,797,986,000 | 3,777,574,000 | 3,796,350,000 | 3,869,889,000 | 3,915,531,000 | 3,890,059,000 | 3,849,992,000 | 3,647,077,000 | 819,588,000 | 878,121,000 | 879,598,000 | 906,429,000 | 862,593,000 | 844,329,000 | 748,643,000 | 712,985,000 | 597,330,000 | 427,851,000 | 201,971,000 | 135,494,000 | 130,533,000 | 16,932,279 | 14,384,083 | 14,216,917 | 14,453,853 | 14,026,008 | 14,353,588 | ||||
commitments and contingencies | ||||||||||||||||||||||||||||||||||||
redeemable noncontrolling interest — common unit limited partners | 3,495,762,000 | 4,400,882,000 | 4,376,104,000 | 5,450,555,000 | 5,955,662,000 | 4,783,180,000 | 4,289,591,000 | 3,624,670,000 | 3,157,807,000 | 3,208,501,000 | 3,242,619,000 | 2,910,861,000 | 3,112,409,000 | |||||||||||||||||||||||
equity: | ||||||||||||||||||||||||||||||||||||
class a common stock | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 5,000 | 5,000 | 5,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 360,613,440 | 361,567,090 | 360,984,250 | 360,269,540 | 359,944,040 | 359,730,090 | ||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 97,557,604 and 97,783,034 shares issued and outstanding at december 31, 2025 and 2024, respectively | 10,000 | |||||||||||||||||||||||||||||||||||
deferred consideration | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||||||||||||||||||||||||||||
additional paid-in capital | 240,725,000 | 221,979,000 | 288,295,000 | 66,966,000 | 192,678,000 | 91,747,000 | 229,672,000 | 118,840,000 | 38,217,000 | 144,716,000 | 473,532,000 | 473,532,000 | 473,502,000 | 39,792,000 | 473,502,000 | 473,502,000 | 440,628,000 | 4,844,480 | 3,890,840 | 4,473,675 | 5,188,377 | 5,513,873 | 5,734,529 | 23,994 | ||||||||||||
accumulated deficit | -806,121,000 | -1,997,681,000 | -1,781,415,000 | -2,616,635,000 | -2,976,612,000 | -1,720,721,000 | -1,206,909,000 | -973,451,000 | -723,516,000 | -929,778,000 | -902,446,000 | -863,452,000 | -958,629,000 | -577,251,000 | -484,142,000 | -506,200,000 | -369,253,000 | -391,042,000 | -400,438,000 | -402,741,000 | -402,486,000 | -392,633,000 | -29,020,000 | -24,156,000 | -212,646,000 | -213,746,000 | -189,484 | -514,989 | -735,646 | -2,376 | ||||||
total equity | -565,380,000 | -1,775,686,000 | -1,565,658,000 | -2,549,653,000 | -2,976,596,000 | -1,720,705,000 | -1,206,893,000 | -973,436,000 | -530,823,000 | -838,016,000 | -905,757,000 | -636,198,000 | -839,775,000 | |||||||||||||||||||||||
total liabilities, noncontrolling interest and equity | 7,095,611,000 | 7,202,073,000 | 7,150,997,000 | |||||||||||||||||||||||||||||||||
deferred tax assets | 233,576,000 | 222,761,000 | 207,729,000 | 203,671,000 | 211,217,000 | 238,258,000 | ||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 97,557,604 and 97,783,034 shares issued and outstanding at september 30, 2025 and december 31, 2024, respectively | 10,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 92,777,112 and 97,783,034 shares issued and outstanding at june 30, 2025 and december 31, 2024, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
treasury stock | -72,554,000 | -3,325,000 | -2,432,000 | |||||||||||||||||||||||||||||||||
liabilities, noncontrolling interest, and equity | ||||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 97,039,202 and 97,783,034 shares issued and outstanding at march 31, 2025 and december 31, 2024, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
total liabilities, noncontrolling interest, and equity | 7,030,683,000 | 6,814,937,000 | 6,860,461,000 | 6,860,272,000 | 6,447,584,000 | 6,496,873,000 | 6,286,016,000 | 6,226,921,000 | 6,124,655,000 | 1,868,008,000 | 1,857,319,000 | |||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 97,783,034 and 94,089,038 shares issued and outstanding at december 31, 2024 and 2023, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 97,783,034 and 94,089,038 shares issued and outstanding at september 30, 2024 and december 31, 2023, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 97,783,034 and 94,089,038 shares issued and outstanding at june 30, 2024 and december 31, 2023, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 93,942,788 and 94,089,038 shares issued and outstanding at march 31, 2024 and december 31, 2023, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 94,089,038 and 94,270,000 shares issued and outstanding at december 31, 2023 and 2022, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 94,089,038 and 94,270,000 shares issued and outstanding at september 30, 2023 and december 31, 2022, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 94,089,038 and 94,270,000 shares issued and outstanding at june 30, 2023 and december 31, 2022, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
investment in unconsolidated affiliate | 2,412,905,000 | 2,381,340,000 | ||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 94,089,038 and 94,270,000 shares issued and outstanding at march 31, 2023 and december 31, 2022, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
liabilities, noncontrolling interests, and equity | ||||||||||||||||||||||||||||||||||||
current portion of long-term debt | ||||||||||||||||||||||||||||||||||||
contingent liabilities | ||||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 94,270,000 and 100,000,000 shares issued and outstanding at december 31, 2022 and december 31, 2021, respectively | 9,000 | |||||||||||||||||||||||||||||||||||
total liabilities, noncontrolling interests, and equity | 5,919,711,000 | 1,724,670,000 | 1,865,934,000 | 1,853,654,000 | 1,842,576,000 | 1,799,630,000 | 1,756,370,000 | 1,642,243,000 | 1,588,533,000 | 1,500,854,000 | 2,661,835,000 | 2,444,734,000 | ||||||||||||||||||||||||
revenues | 325,176,000 | 335,572,000 | 284,102,000 | |||||||||||||||||||||||||||||||||
net income including noncontrolling interest | 46,968,000 | 132,159,000 | 13,468,000 | 5,728,000 | ||||||||||||||||||||||||||||||||
accounts receivable from apache corporation | 9,875,000 | 1,018,000 | 797,000 | 799,000 | 446,000 | 1,213,000 | 1,066,000 | 5,195,000 | 1,135,000 | 145,000 | 28,959,000 | |||||||||||||||||||||||||
revenue receivables | 13,717,000 | 10,981,000 | 10,964,000 | 11,152,000 | 11,378,000 | 11,975,000 | 13,572,000 | 11,709,000 | 15,461,000 | 11,726,000 | 8,998,000 | 11,526,000 | 10,914,000 | |||||||||||||||||||||||
inventories | 2,958,000 | 3,286,000 | 3,440,000 | 3,891,000 | 3,597,000 | 3,661,000 | 3,771,000 | 4,209,000 | 4,027,000 | |||||||||||||||||||||||||||
prepaid assets and other | 5,866,000 | 6,030,000 | 5,957,000 | 7,787,000 | 2,127,000 | 999,000 | 1,713,000 | 1,251,000 | 1,071,000 | 1,153,000 | 1,697,000 | 2,178,000 | 1,379,000 | |||||||||||||||||||||||
property, plant, and equipment: | ||||||||||||||||||||||||||||||||||||
property, plant, and equipment | 211,700,000 | 208,870,000 | 207,270,000 | |||||||||||||||||||||||||||||||||
less: accumulated depreciation and accretion | -24,713,000 | -21,848,000 | -18,858,000 | -15,907,000 | -13,034,000 | |||||||||||||||||||||||||||||||
other assets: | ||||||||||||||||||||||||||||||||||||
equity method interests | 1,364,826,000 | 1,537,907,000 | 1,554,385,000 | 1,566,672,000 | 1,555,182,000 | 1,524,410,000 | 1,408,479,000 | 1,336,810,000 | 1,258,048,000 | 1,094,564,000 | 527,379,000 | 209,403,000 | ||||||||||||||||||||||||
deferred charges and other | 6,229,000 | 8,341,000 | 10,271,000 | 6,294,000 | 5,843,000 | 6,263,000 | 5,524,000 | 5,664,000 | 5,267,000 | 5,651,000 | 6,031,000 | 5,605,000 | 3,734,000 | |||||||||||||||||||||||
distributions payable to preferred unit limited partners | 11,562,000 | 11,562,000 | 11,562,000 | 11,562,000 | ||||||||||||||||||||||||||||||||
dividends payable | 5,620,000 | |||||||||||||||||||||||||||||||||||
distributions payable to apache corporation | 18,750,000 | |||||||||||||||||||||||||||||||||||
long-term debt | 657,000,000 | 657,000,000 | 657,000,000 | 657,000,000 | 624,000,000 | 580,000,000 | 493,000,000 | 468,000,000 | 396,000,000 | 235,000,000 | ||||||||||||||||||||||||||
deferred credits and other noncurrent liabilities: | ||||||||||||||||||||||||||||||||||||
asset retirement obligation | 68,331,000 | 67,234,000 | 66,157,000 | 65,100,000 | 64,062,000 | 63,043,000 | 62,041,000 | 61,059,000 | 60,095,000 | 33,950,000 | 32,611,000 | 30,216,000 | 29,369,000 | |||||||||||||||||||||||
embedded derivative | 56,895,000 | 120,522,000 | 124,532,000 | 155,538,000 | 139,009,000 | 179,031,000 | 175,498,000 | 164,913,000 | 102,929,000 | 98,228,000 | 94,459,000 | |||||||||||||||||||||||||
other noncurrent liabilities | 10,118,000 | 5,896,000 | 6,765,000 | 6,907,000 | 5,539,000 | 4,614,000 | ||||||||||||||||||||||||||||||
redeemable noncontrolling interest — apache limited partner | 769,855,000 | 837,158,000 | 863,063,000 | 662,432,000 | 575,125,000 | 238,842,000 | 230,631,000 | 231,178,000 | 701,000,000 | 1,251,370,000 | 1,272,652,000 | |||||||||||||||||||||||||
redeemable noncontrolling interest — preferred unit limited partners | 712,476,000 | 634,795,000 | 617,191,000 | 604,749,000 | 608,381,000 | 600,395,000 | 592,625,000 | 573,861,000 | 555,599,000 | 538,413,000 | 520,933,000 | |||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 12,500,000 shares issued and outstanding at december 31, 2021 and 2020 | 1,000 | |||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -145,000 | -292,000 | -449,000 | -539,000 | -266,000 | -313,000 | -200,000 | |||||||||||||||||||||||||||||
cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||
net income including noncontrolling interests | 99,221,000 | 146,019,000 | 96,330,000 | 22,489,000 | 80,484,000 | -26,792,000 | -7,958,000 | 230,000 | ||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||
unrealized derivative instrument (gain) loss | -82,114,000 | -18,487,000 | -14,477,000 | |||||||||||||||||||||||||||||||||
depreciation and accretion | 16,201,000 | 12,094,000 | 8,009,000 | 4,000,000 | 15,945,000 | 3,914,000 | 28,468,000 | 16,758,000 | 7,651,000 | |||||||||||||||||||||||||||
deferred income tax expense | 426,000 | |||||||||||||||||||||||||||||||||||
income from equity method interests | -113,764,000 | -82,633,000 | -50,154,000 | -21,688,000 | -58,739,000 | -16,298,000 | -536,000 | 1,028,000 | -270,000 | |||||||||||||||||||||||||||
distributions from equity method interests | 133,974,000 | 97,757,000 | 62,091,000 | 23,810,000 | 80,747,000 | 20,985,000 | 3,391,000 | |||||||||||||||||||||||||||||
impairments | 441,000 | 441,000 | 441,000 | 441,000 | 1,643,000 | 9,338,000 | ||||||||||||||||||||||||||||||
impairment on equity method interests | 160,441,000 | |||||||||||||||||||||||||||||||||||
power credit | -5,701,000 | -7,047,000 | -7,609,000 | |||||||||||||||||||||||||||||||||
warrants valuation adjustment | -664,000 | -222,000 | 442,000 | 664,000 | ||||||||||||||||||||||||||||||||
other | 2,741,000 | 406,000 | 307,000 | 217,000 | 3,368,000 | 461,000 | 666,000 | -564,000 | 1,497,000 | |||||||||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||
increase in inventories | 356,000 | -294,000 | 430,000 | -182,000 | -139,000 | |||||||||||||||||||||||||||||||
increase in prepaid assets and other | 217,000 | -47,000 | -689,000 | 544,000 | -56,000 | -180,000 | ||||||||||||||||||||||||||||||
increase in accounts receivable | -1,216,000 | 1,033,000 | -923,000 | -226,000 | -1,033,000 | |||||||||||||||||||||||||||||||
increase in account receivables from/payable to affiliate | -8,174,000 | 279,000 | 1,043,000 | -948,000 | -3,347,000 | |||||||||||||||||||||||||||||||
increase in accrued expenses | 9,353,000 | 9,425,000 | 7,895,000 | 4,491,000 | 280,000 | 3,017,000 | 9,056,000 | 6,453,000 | 2,651,000 | |||||||||||||||||||||||||||
increase in deferred charges, deferred credits and other noncurrent liabilities | 746,000 | 19,000 | ||||||||||||||||||||||||||||||||||
net cash from operating activities | 209,719,000 | 158,395,000 | 101,055,000 | 43,272,000 | 164,294,000 | 51,538,000 | 39,436,000 | 21,688,000 | 10,054,000 | |||||||||||||||||||||||||||
cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||
capital expenditures | -4,588,000 | -3,268,000 | -2,447,000 | -1,330,000 | -29,981,000 | -19,096,000 | -307,010,000 | -259,295,000 | -164,518,000 | |||||||||||||||||||||||||||
proceeds from sale of assets | 3,037,000 | 1,687,000 | 1,669,000 | 1,090,000 | 10,240,000 | 6,096,000 | ||||||||||||||||||||||||||||||
contributions to equity method interests | -28,420,000 | -27,270,000 | -24,155,000 | -20,522,000 | -327,305,000 | -82,827,000 | -337,412,000 | -210,238,000 | ||||||||||||||||||||||||||||
acquisition of equity method interests | -670,625,000 | -228,165,000 | ||||||||||||||||||||||||||||||||||
capitalized interest paid | -8,733,000 | -3,340,000 | ||||||||||||||||||||||||||||||||||
net cash from investing activities | 8,784,000 | 1,200,000 | -11,288,000 | -13,222,000 | -338,360,000 | -97,615,000 | -1,315,047,000 | -697,698,000 | -282,551,000 | |||||||||||||||||||||||||||
cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||
redeemable noncontrolling interest - preferred unit limited partners | 611,249,000 | 611,249,000 | ||||||||||||||||||||||||||||||||||
distributions paid to preferred unit limited partners | -46,249,000 | -34,686,000 | -23,124,000 | -11,562,000 | -23,124,000 | |||||||||||||||||||||||||||||||
distributions paid to apache limited partner | -75,000,000 | -56,250,000 | -37,500,000 | -18,750,000 | ||||||||||||||||||||||||||||||||
dividends paid | -22,479,000 | -16,859,000 | -11,239,000 | -5,620,000 | ||||||||||||||||||||||||||||||||
proceeds from revolving credit facility | 33,000,000 | 33,000,000 | 33,000,000 | 33,000,000 | 228,000,000 | 72,000,000 | 235,000,000 | |||||||||||||||||||||||||||||
finance lease | -11,789,000 | -11,789,000 | -17,187,000 | -7,462,000 | ||||||||||||||||||||||||||||||||
deferred facility fees | -816,000 | -816,000 | -792,000 | -792,000 | ||||||||||||||||||||||||||||||||
net cash from financing activities | -110,728,000 | -74,795,000 | -38,863,000 | -2,932,000 | 192,271,000 | 59,395,000 | 828,270,000 | 602,995,000 | ||||||||||||||||||||||||||||
increase in cash and cash equivalents | 107,775,000 | 84,800,000 | 50,904,000 | 27,118,000 | 18,205,000 | |||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of year | 24,188,000 | 24,188,000 | 24,188,000 | 24,188,000 | 5,983,000 | 5,983,000 | 449,935,000 | 449,935,000 | 449,935,000 | |||||||||||||||||||||||||||
cash and cash equivalents at end of period | 131,963,000 | 108,988,000 | 75,092,000 | 51,306,000 | 24,188,000 | 19,301,000 | 2,594,000 | 376,920,000 | 177,438,000 | |||||||||||||||||||||||||||
supplemental cash flow data: | ||||||||||||||||||||||||||||||||||||
accrued capital expenditures | 514,000 | 312,000 | 305,000 | 834,000 | 6,557,000 | 24,306,000 | 30,330,000 | 29,792,000 | ||||||||||||||||||||||||||||
finance lease liability | 29,000,000 | 29,000,000 | 29,000,000 | |||||||||||||||||||||||||||||||||
interest paid, net of capitalized interest | 9,540,000 | 7,042,000 | 4,643,000 | 2,328,000 | 1,013,000 | 685,000 | 1,493,000 | 232,000 | ||||||||||||||||||||||||||||
cash received for income tax refunds | 696,000 | |||||||||||||||||||||||||||||||||||
property, plant and equipment: | ||||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 12,500,000 shares issued and outstanding at september 30, 2021 and december 31, 2020 | 1,000 | |||||||||||||||||||||||||||||||||||
decrease in inventories | 256,000 | 157,000 | ||||||||||||||||||||||||||||||||||
decrease in revenue receivables | 397,000 | 414,000 | 226,000 | |||||||||||||||||||||||||||||||||
decrease in account receivables from/payable to affiliate | 580,000 | 551,000 | ||||||||||||||||||||||||||||||||||
increase in deferred charges and other noncurrent liabilities | -1,577,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 12,500,000 shares issued and outstanding at june 30, 2021 and december 31, 2020 | 1,000 | |||||||||||||||||||||||||||||||||||
increase in deferred charges, deferred credits, and other noncurrent liabilities | -1,730,000 | -1,005,000 | ||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 12,500,000 shares issued and outstanding at march 31, 2021 and december 31, 2020 | 1,000 | |||||||||||||||||||||||||||||||||||
unrealized derivative instrument loss | 16,529,000 | 36,080,000 | 61,984,000 | 3,769,000 | ||||||||||||||||||||||||||||||||
other income | -7,205,000 | |||||||||||||||||||||||||||||||||||
current debt | 9,767,000 | 17,562,000 | 23,310,000 | 29,000,000 | ||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 12,500,000 shares issued and outstanding at december 31, 2020 and 2019 | 1,000 | |||||||||||||||||||||||||||||||||||
deferred income tax benefit | -510,000 | |||||||||||||||||||||||||||||||||||
adjustment for non-cash transactions with affiliate | ||||||||||||||||||||||||||||||||||||
increase in interest receivable | ||||||||||||||||||||||||||||||||||||
recapitalization transaction | ||||||||||||||||||||||||||||||||||||
less: accumulated depreciation and amortization | -10,092,000 | -7,085,000 | -4,417,000 | -1,468,000 | -51,608,000 | -40,333,000 | -31,608,000 | -24,320,000 | ||||||||||||||||||||||||||||
other non-current liabilities | 5,711,000 | 5,998,000 | 6,285,000 | 1,206,000 | 1,352,000 | |||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 12,500,000 shares issued and outstanding at september 30, 2020 and december 31, 2019 | 1,000 | |||||||||||||||||||||||||||||||||||
accounts payable to apache corporation | 165,000 | 13,595,000 | ||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 12,500,000 shares issued and outstanding at june 30, 2020 and december 31, 2019 | 1,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 250,000,000 shares issued and outstanding at march 31, 2020 and december 31, 2019 | 25,000 | |||||||||||||||||||||||||||||||||||
increase deferred credits and noncurrent liabilities | 1,825,000 | |||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | 13,318,000 | |||||||||||||||||||||||||||||||||||
deferred tax liability | 3,089,000 | 2,998,000 | 2,735,000 | 2,643,000 | ||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 250,000,000 shares issued and outstanding at december 31, 2019 and 2018 | 25,000 | |||||||||||||||||||||||||||||||||||
inventories and other | 15,181,000 | 6,286,000 | 5,941,000 | 5,802,000 | ||||||||||||||||||||||||||||||||
assets held for sale | 18,183,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 250,000,000 shares issued and outstanding at september 30, 2019 and december 31, 2018 | 25,000 | |||||||||||||||||||||||||||||||||||
increase in inventories and other | -676,000 | -484,000 | ||||||||||||||||||||||||||||||||||
decrease in prepaid and other | 237,000 | |||||||||||||||||||||||||||||||||||
increase in revenue receivables | -798,000 | |||||||||||||||||||||||||||||||||||
increase in accounts receivable from/payable to affiliate | -5,011,000 | |||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -447,341,000 | -73,015,000 | -272,497,000 | |||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 250,000,000 shares issued and outstanding at june 30, 2019 and december 31, 2018 | 25,000 | |||||||||||||||||||||||||||||||||||
deferred income tax (benefit) expense | -5,000 | |||||||||||||||||||||||||||||||||||
increase in prepaid and other | -311,000 | -809,000 | ||||||||||||||||||||||||||||||||||
redeemable noncontrolling interest | 1,504,500,000 | 1,940,500,000 | ||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 250,000,000 shares issued and outstanding at march 31, 2019 and december 31, 2018 | 25,000 | |||||||||||||||||||||||||||||||||||
increase in accounts payable to affiliate | -4,371,000 | |||||||||||||||||||||||||||||||||||
contributions to equity method interest | -66,224,000 | |||||||||||||||||||||||||||||||||||
acquisition of equity method interest | -51,809,000 | |||||||||||||||||||||||||||||||||||
gathering, processing and transmission facilities | 1,251,217,000 | |||||||||||||||||||||||||||||||||||
joint venture equity interest | 91,100,000 | |||||||||||||||||||||||||||||||||||
class c common stock: 0.0001 par, 1,500,000,000 shares authorized, 250,000,000 shares issued and outstanding at december 31, 2018 | 25,000 | |||||||||||||||||||||||||||||||||||
current assets | ||||||||||||||||||||||||||||||||||||
cash | 40,565 | 48,630 | 319,849 | 479,055 | 555,254 | 1,024,431 | ||||||||||||||||||||||||||||||
prepaid expenses and other current assets | 120,375 | 189,937 | 56,250 | 67,479 | 130,792 | 194,104 | ||||||||||||||||||||||||||||||
total current assets | 160,940 | 238,567 | 376,099 | 546,534 | 686,046 | 1,218,535 | ||||||||||||||||||||||||||||||
investment held in trust account | 382,384,785 | 380,712,615 | 379,825,075 | 379,176,865 | 378,284,003 | 377,865,145 | ||||||||||||||||||||||||||||||
liabilities and stockholders’ equity | ||||||||||||||||||||||||||||||||||||
current liabilities | ||||||||||||||||||||||||||||||||||||
accrued franchise taxes | 30,038 | 20,025 | 50,013 | 200,050 | 98,900 | 43,000 | ||||||||||||||||||||||||||||||
accrued income taxes | 357,823 | 8,770 | 220,145 | 304,876 | 35,694 | 170,349 | ||||||||||||||||||||||||||||||
sponsor note | 600,000 | 100,000 | 265,000 | |||||||||||||||||||||||||||||||||
total current liabilities | 3,726,040 | 1,177,844 | 1,010,678 | 1,247,614 | 819,769 | 1,147,349 | 579,937 | |||||||||||||||||||||||||||||
deferred underwriting compensation | 13,206,239 | 13,206,239 | 13,206,239 | 13,206,239 | 13,206,239 | 13,206,239 | ||||||||||||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||||||||||||||||||||
class a common stock, 0.0001 par value... | 167 | 157 | 162 | 170 | 174 | 176 | ||||||||||||||||||||||||||||||
class b convertible common stock, 0.0001 par value... | 943 | 943 | 943 | 943 | 943 | 943 | ||||||||||||||||||||||||||||||
retained earnings | 154,416 | 1,108,069 | 525,227 | |||||||||||||||||||||||||||||||||
total stockholders’ equity | 5,000,006 | 5,000,009 | 5,000,007 | 5,000,006 | 5,000,001 | 5,000,002 | 22,624 | |||||||||||||||||||||||||||||
total liabilities and stockholders’ equity | 382,545,725 | 380,951,182 | 380,201,174 | 379,723,399 | 378,970,049 | 379,083,680 | 602,561 | |||||||||||||||||||||||||||||
deferred offering costs | 602,312 | |||||||||||||||||||||||||||||||||||
accrued formation and offering costs | 2,000 | 314,937 | ||||||||||||||||||||||||||||||||||
current asset — cash | 249 | |||||||||||||||||||||||||||||||||||
class b common stock, 0.0001 par value... | 1,006 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||||||||||||
net income including noncontrolling interest | 416,701,000 | 15,549,000 | 74,416,000 | 19,262,000 | 5,728,000 | |||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||
depreciation and amortization expense | 100,800,000 | 95,409,000 | 93,763,000 | 92,673,000 | 87,947,000 | 87,583,000 | 75,061,000 | 73,606,000 | 72,715,000 | 69,935,000 | 69,482,000 | 68,854,000 | 67,736,000 | 65,005,000 | 66,581,000 | 61,023,000 | ||||||||||||||||
amortization of deferred financing costs | 1,977,000 | 1,908,000 | 2,012,000 | 1,972,000 | 1,941,000 | 1,915,000 | 1,883,000 | 1,699,000 | 1,593,000 | 1,546,000 | 1,534,000 | 1,521,000 | 3,149,000 | 3,389,000 | ||||||||||||||||||
amortization of contract costs | 1,740,000 | 1,744,000 | 1,654,000 | 1,656,000 | 1,656,000 | 1,655,000 | 1,655,000 | 1,655,000 | 1,655,000 | 1,655,000 | 1,655,000 | 1,655,000 | 463,000 | 448,000 | 448,000 | 448,000 | ||||||||||||||||
contingent liabilities fair value adjustment | -510,000 | -1,200,000 | ||||||||||||||||||||||||||||||
payment of contingent liability in excess of acquisition-date fair value | ||||||||||||||||||||||||||||||||
distributions from unconsolidated affiliates | 40,798,000 | 78,263,000 | 63,604,000 | 63,337,000 | 71,028,000 | 75,429,000 | 77,213,000 | -199,212,000 | 69,661,000 | 68,242,000 | 69,471,000 | 48,073,000 | ||||||||||||||||||||
derivatives settlement | 845,000 | 1,204,000 | -13,061,000 | 3,754,000 | 10,597,000 | 4,841,000 | 9,296,000 | 974,000 | -448,000 | 0 | 11,999,000 | -884,000 | ||||||||||||||||||||
derivative fair value adjustment | -9,340,000 | 981,000 | -37,541,000 | 22,171,000 | 8,775,000 | 2,314,000 | 4,667,000 | 1,957,000 | 7,357,000 | -4,417,000 | -48,381,000 | 11,770,000 | ||||||||||||||||||||
warrants fair value adjustment | -15,000 | 4,000 | -33,000 | -44,000 | ||||||||||||||||||||||||||||
gain on sale of equity method investment | 35,000 | -29,953,000 | ||||||||||||||||||||||||||||||
loss on disposal of assets | 23,000 | -40,000 | -50,000 | 0 | -76,000 | 4,166,000 | 4,236,000 | 2,927,000 | 12,137,000 | 102,000 | 9,000 | 3,946,000 | 8,546,000 | 110,000 | ||||||||||||||||||
equity in earnings from unconsolidated affiliates | -55,955,000 | -60,469,000 | -53,187,000 | -50,754,000 | -49,610,000 | -46,464,000 | -45,003,000 | |||||||||||||||||||||||||
loss on debt extinguishment | 0 | 0 | 0 | 0 | 0 | 0 | 27,846,000 | 129,000 | ||||||||||||||||||||||||
share-based compensation | 18,040,000 | 14,229,000 | 9,695,000 | 20,653,000 | 23,668,000 | 15,171,000 | 15,136,000 | 22,561,000 | 12,643,000 | 12,501,000 | 13,299,000 | 17,540,000 | 11,814,000 | 12,662,000 | 12,172,000 | 6,132,000 | ||||||||||||||||
deferred income tax expense | -431,000 | 426,000 | ||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||
accounts receivable and pledged receivable | 5,486,000 | -3,749,000 | 19,114,000 | -19,187,000 | -36,525,000 | 42,347,000 | ||||||||||||||||||||||||||
other assets | 3,612,000 | -10,532,000 | -3,639,000 | -1,886,000 | 11,729,000 | -1,763,000 | -3,831,000 | 1,865,000 | 1,123,000 | 265,000 | -5,092,000 | -2,206,000 | 5,341,000 | 2,309,000 | -11,436,000 | -456,000 | ||||||||||||||||
accounts payable | 18,059,000 | -3,580,000 | -2,756,000 | -7,090,000 | 12,512,000 | -38,239,000 | 5,860,000 | -20,982,000 | 20,584,000 | -3,689,000 | 6,084,000 | -3,175,000 | -2,524,000 | 4,770,000 | 2,922,000 | -6,766,000 | ||||||||||||||||
accrued liabilities | -36,030,000 | 42,561,000 | -38,386,000 | 19,244,000 | -7,728,000 | 21,765,000 | -18,706,000 | 1,756,000 | -15,361,000 | 74,902,000 | -55,383,000 | -10,679,000 | -57,003,000 | -6,419,000 | 28,133,000 | 73,961,000 | ||||||||||||||||
operating leases | 199,000 | 333,000 | 344,000 | 247,000 | -152,000 | -45,000 | -412,000 | 3,000 | 18,000 | 5,000 | 46,000 | 632,000 | ||||||||||||||||||||
net cash from operating activities | 110,090,000 | 188,123,000 | 129,077,000 | 176,830,000 | 143,990,000 | 214,134,000 | 125,517,000 | 153,705,000 | 178,895,000 | 174,538,000 | 111,456,000 | 119,591,000 | 159,762,000 | 184,326,000 | 170,525,000 | 98,393,000 | 51,324,000 | 57,340,000 | 57,783,000 | 43,272,000 | 26,847,000 | 137,360,203 | -51,451,203 | 51,538,000 | 36,837,000 | 17,748,000 | 11,634,000 | 10,054,000 | 1,699,490 | -508,065 | -371,219 | -159,206 |
cash flows from investing activities: | ||||||||||||||||||||||||||||||||
property, plant and equipment expenditures | -134,120,000 | -156,514,000 | -127,294,000 | -74,546,000 | -107,739,000 | -58,455,000 | -39,375,000 | -57,975,000 | -67,062,000 | -85,631,000 | -101,305,000 | -58,862,000 | -45,682,000 | -89,049,000 | -42,195,000 | -29,234,000 | ||||||||||||||||
intangible assets expenditures | -6,318,000 | -15,312,000 | -8,638,000 | -6,929,000 | -4,585,000 | -4,971,000 | -550,000 | -2,223,000 | -1,615,000 | -1,122,000 | -4,202,000 | -9,755,000 | -2,087,000 | -4,816,000 | -4,957,000 | -3,559,000 | ||||||||||||||||
investments in unconsolidated affiliate | -58,658,000 | |||||||||||||||||||||||||||||||
net cash paid for acquisition of interest in unconsolidated affiliate | ||||||||||||||||||||||||||||||||
cash proceeds from sale of equity method investment | 0 | 30,000,000 | ||||||||||||||||||||||||||||||
cash proceeds from disposals of assets | 75,000 | 0 | ||||||||||||||||||||||||||||||
net cash paid for business combinations | ||||||||||||||||||||||||||||||||
net cash from investing activities | 363,836,000 | -171,326,000 | -131,466,000 | -260,138,000 | -110,978,000 | -109,211,000 | 105,282,000 | -61,980,000 | -103,720,000 | -134,697,000 | -201,435,000 | -246,468,000 | -69,712,000 | -147,359,000 | -49,667,000 | -19,392,000 | 7,584,000 | 12,488,000 | 1,934,000 | -13,222,000 | -37,080,000 | -301,104,705 | 97,439,705 | -97,615,000 | -188,641,000 | -617,349,000 | -415,147,000 | -282,551,000 | ||||
cash flows from financing activities: | ||||||||||||||||||||||||||||||||
proceeds from borrowings under a/r facility | 4,800,000 | |||||||||||||||||||||||||||||||
payments on a/r facility | -37,600,000 | -25,600,000 | -14,600,000 | 0 | ||||||||||||||||||||||||||||
proceeds from borrowings from long-term debt | 0 | 0 | 1,150,000,000 | 250,000,000 | ||||||||||||||||||||||||||||
payments on long-term debt | 0 | 0 | ||||||||||||||||||||||||||||||
payments of debt issuance costs | -64,000 | -171,000 | -8,192,000 | -2,497,000 | 0 | 0 | ||||||||||||||||||||||||||
payments of debt discount | 0 | 0 | ||||||||||||||||||||||||||||||
proceeds from revolving line of credit | 166,000,000 | 336,000,000 | ||||||||||||||||||||||||||||||
payments on revolving line of credit | -496,000,000 | -118,000,000 | ||||||||||||||||||||||||||||||
cash dividends paid to class a common stock shareholders | -50,207,000 | -48,571,000 | -47,967,000 | -46,983,000 | -46,780,000 | -44,902,000 | -44,779,000 | -38,747,000 | -23,322,000 | -21,834,000 | -19,269,000 | -16,927,000 | -14,947,000 | -13,112,000 | ||||||||||||||||||
distributions paid to class c common unit limited partners | -76,090,000 | -78,351,000 | -76,264,000 | -73,332,000 | -70,452,000 | -721,000 | -173,000 | |||||||||||||||||||||||||
payments on contingent liability | ||||||||||||||||||||||||||||||||
repurchase of class a common stock | -3,451,000 | -100,000,000 | 0 | 0 | -3,325,000 | -2,432,000 | ||||||||||||||||||||||||||
net cash from financing activities | -477,712,000 | -19,793,000 | 4,277,000 | 88,547,000 | -49,844,000 | -97,034,000 | -228,006,000 | -86,479,000 | -70,733,000 | -42,010,000 | 90,232,000 | 122,467,000 | -95,384,000 | -30,558,000 | -133,185,000 | -80,084,000 | -35,933,000 | -35,932,000 | -35,931,000 | -2,932,000 | 32,438,000 | 159,748,605 | -59,310,605 | 59,395,000 | 155,193,000 | 225,275,000 | 623,774,000 | |||||
net change in cash | -3,786,000 | -2,996,000 | 1,888,000 | 5,239,000 | -16,832,000 | 7,889,000 | 2,793,000 | 5,246,000 | 4,442,000 | -2,169,000 | 253,000 | -4,410,000 | -5,334,000 | 6,409,000 | -12,327,000 | -1,083,000 | ||||||||||||||||
cash, beginning of period | 0 | 0 | 0 | 3,606,000 | 0 | 0 | 0 | 4,510,000 | 0 | 0 | 0 | 6,394,000 | 0 | 0 | 0 | 18,729,000 | ||||||||||||||||
cash, end of period | -3,786,000 | -2,996,000 | 1,888,000 | 8,845,000 | -16,832,000 | 7,889,000 | 2,793,000 | 9,756,000 | 4,442,000 | -2,169,000 | 253,000 | 1,984,000 | -5,334,000 | 6,409,000 | -12,327,000 | 17,646,000 | ||||||||||||||||
derivative settlement | 6,283,000 | -943,000 | -4,714,000 | |||||||||||||||||||||||||||||
equity in earnings of unconsolidated affiliates | -58,289,000 | -58,705,000 | -57,478,000 | |||||||||||||||||||||||||||||
deferred income taxes | 1,085,000 | 6,949,000 | 2,460,000 | 7,342,000 | 8,731,000 | 3,660,000 | 1,072,000 | 240,000 | 363,000 | 212,000 | 1,269,000 | -63,000 | 676,000 | |||||||||||||||||||
other non-current liabilities | 178,000 | -1,114,000 | 23,550,000 | 0 | -1,755,000 | 11,000 | -10,000 | -999,000 | 1,677,000 | |||||||||||||||||||||||
investments in unconsolidated affiliates | -221,000 | -97,000 | -888,000 | 0 | 0 | -3,273,000 | -48,008,000 | |||||||||||||||||||||||||
net cash paid for acquisition of interest in unconsolidated affiliates | ||||||||||||||||||||||||||||||||
cash proceeds from disposal of assets | 39,000 | |||||||||||||||||||||||||||||||
net cash paid for acquisition | 682,000 | 8,083,000 | ||||||||||||||||||||||||||||||
proceeds from borrowing under a/r facility | 14,900,000 | 64,700,000 | 8,600,000 | |||||||||||||||||||||||||||||
supplemental schedule of investing and financing activities | ||||||||||||||||||||||||||||||||
cash paid for interest, net of amounts capitalized | 24,713,000 | 77,834,000 | 57,095,000 | 41,823,000 | 40,466,000 | 88,666,000 | 36,745,000 | 43,678,000 | 23,610,000 | 27,181,000 | 25,801,000 | |||||||||||||||||||||
cash paid for income taxes | 1,233,000 | 1,000 | ||||||||||||||||||||||||||||||
property and equipment and intangible accruals in accounts payable and accrued liabilities | -22,235,000 | -3,046,000 | 20,564,000 | 2,079,000 | -14,394,000 | 6,916,000 | 32,715,000 | -443,000 | -2,627,000 | 6,004,000 | 14,340,000 | |||||||||||||||||||||
right-of-use assets obtained in exchange for lease liabilities | 17,003,000 | |||||||||||||||||||||||||||||||
class a common stock issued through dividend and distribution reinvestment plan | 413,000 | 390,000 | 74,247,000 | 88,289,000 | 88,145,000 | 87,968,000 | 87,658,000 | 87,832,000 | 87,756,000 | |||||||||||||||||||||||
fair value of assets acquired in business combinations | -682,000 | |||||||||||||||||||||||||||||||
cash consideration paid | -682,000 | -1,000 | ||||||||||||||||||||||||||||||
class c common units issued | ||||||||||||||||||||||||||||||||
deferred consideration | 0 | |||||||||||||||||||||||||||||||
contingent consideration | -59,500,000 | |||||||||||||||||||||||||||||||
liabilities assumed | 0 | |||||||||||||||||||||||||||||||
(gain) loss on disposal of assets | ||||||||||||||||||||||||||||||||
distributions from unconsolidated affiliate | 560,000 | 287,203,000 | 1,549,000 | 0 | 1,240,000 | 266,697,000 | 0 | -61,971,000 | 67,764,000 | |||||||||||||||||||||||
cash proceeds from disposals | 45,000 | 251,000 | 145,000 | 64,000 | 135,000 | 14,000 | 29,000 | 30,000 | ||||||||||||||||||||||||
net cash paid for acquisitions | -178,380,000 | |||||||||||||||||||||||||||||||
proceeds from debt premium | 625,000 | |||||||||||||||||||||||||||||||
proceeds from revolver | 388,000,000 | 234,000,000 | 219,000,000 | 563,000,000 | 44,000,000 | 79,500,000 | 110,000,000 | 296,000,000 | 267,000,000 | 28,000,000 | 530,000,000 | 0 | 7,000,000 | |||||||||||||||||||
payments of revolver | -433,000,000 | -199,000,000 | ||||||||||||||||||||||||||||||
distributions paid to common unit limited partners | -76,198,000 | |||||||||||||||||||||||||||||||
net income including noncontrolling interests | 108,948,000 | 35,407,000 | 267,354,000 | 43,131,000 | 71,668,000 | 4,299,000 | 48,462,000 | 49,422,000 | 131,448,000 | 21,389,000 | -46,798,000 | 49,689,000 | 73,841,000 | 22,489,000 | 60,292,000 | 20,201,130 | 26,782,870 | -26,792,000 | ||||||||||||||
gain on redemption of mandatorily redeemable preferred units | 0 | 0 | -5,087,000 | -4,493,000 | ||||||||||||||||||||||||||||
net cash (paid for) acquired in acquisition | ||||||||||||||||||||||||||||||||
principal payments on long-term debt | 0 | 0 | -2,267,748,000 | -26,382,000 | ||||||||||||||||||||||||||||
payments on debt discount | ||||||||||||||||||||||||||||||||
payments on revolver | -91,000,000 | -115,500,000 | -130,000,000 | -183,000,000 | -125,000,000 | |||||||||||||||||||||||||||
redemption of mandatorily redeemable preferred units | 0 | -30,717,000 | -91,878,000 | -60,702,000 | ||||||||||||||||||||||||||||
redemption of redeemable noncontrolling interest preferred units | 0 | |||||||||||||||||||||||||||||||
distributions paid to mandatorily redeemable preferred unit holders | ||||||||||||||||||||||||||||||||
distributions paid to redeemable noncontrolling interest preferred unit limited partners | ||||||||||||||||||||||||||||||||
kinetik holdings inc.consolidated statements of cash flows | ||||||||||||||||||||||||||||||||
right-of-use obtained in exchange for lease liabilities | ||||||||||||||||||||||||||||||||
fair value of assets acquired in durango and altm acquisition | ||||||||||||||||||||||||||||||||
class c common units issued in exchange | 0 | |||||||||||||||||||||||||||||||
class a common stock issued in exchange | 0 | 0 | 0 | 1,013,745,000 | ||||||||||||||||||||||||||||
liabilities and mezzanine equity assumed | ||||||||||||||||||||||||||||||||
payments on term loan credit facility | 0 | |||||||||||||||||||||||||||||||
payment of debt discount | 0 | |||||||||||||||||||||||||||||||
fair value of durango assets acquired | ||||||||||||||||||||||||||||||||
durango liabilities assumed | ||||||||||||||||||||||||||||||||
accounts receivable | 5,843,000 | 14,851,000 | -49,037,000 | 17,047,000 | 5,008,000 | 65,598,000 | 26,584,000 | -33,065,000 | -67,446,000 | |||||||||||||||||||||||
payments on debt issuance cost | -11,000 | |||||||||||||||||||||||||||||||
contingent liabilities remeasurement | 0 | 0 | ||||||||||||||||||||||||||||||
proceeds from issuance of long-term debt | 0 | 0 | ||||||||||||||||||||||||||||||
equity contributions | ||||||||||||||||||||||||||||||||
lease assets obtained in exchange for lease liabilities | ||||||||||||||||||||||||||||||||
fair value of altm assets acquired | -1,979,000 | -1,000 | 765,000 | 2,445,665,000 | ||||||||||||||||||||||||||||
altm liabilities and mezzanine equity assumed | -1,979,000 | -1,000 | 765,000 | 1,431,920,000 | ||||||||||||||||||||||||||||
net cash (paid for) acquired in acquisitions | 0 | 0 | -125,000,000 | |||||||||||||||||||||||||||||
distribution paid to class c common unit limited partners | -174,000 | -174,000 | ||||||||||||||||||||||||||||||
equity in losses from unconsolidated affiliates | ||||||||||||||||||||||||||||||||
goodwill impairment | ||||||||||||||||||||||||||||||||
net cash acquired in acquisition | 0 | 0 | 0 | 13,401,000 | ||||||||||||||||||||||||||||
consideration payable from acquisition | ||||||||||||||||||||||||||||||||
cash flows from operating activities | ||||||||||||||||||||||||||||||||
amortization of debt issuance costs | ||||||||||||||||||||||||||||||||
derivatives fair value adjustment | -488,000 | -93,799,000 | -8,745,000 | |||||||||||||||||||||||||||||
change in operating assets and liabilities: | ||||||||||||||||||||||||||||||||
operating lease liabilities | 64,000 | 4,552,000 | -4,897,000 | |||||||||||||||||||||||||||||
cash flows from investing activities | ||||||||||||||||||||||||||||||||
investment in unconsolidated affiliates | -53,524,000 | |||||||||||||||||||||||||||||||
cash flows from financing activities | ||||||||||||||||||||||||||||||||
payment on debt issuance costs | 169,000 | |||||||||||||||||||||||||||||||
payment on revolver | -55,000,000 | |||||||||||||||||||||||||||||||
distributions paid to mandatorily redeemable preferred units holders | 0 | |||||||||||||||||||||||||||||||
distributions paid to redeemable noncontrolling interest preferred units limited partners | ||||||||||||||||||||||||||||||||
distributions paid to class c common units limited partners | -438,000 | |||||||||||||||||||||||||||||||
distributions paid to redeemable noncontrolling interests preferred units limited partners | ||||||||||||||||||||||||||||||||
equity in losses from unconsolidated affiliate | -27,917,000 | |||||||||||||||||||||||||||||||
operating lease right-of-use assets | 4,667,000 | |||||||||||||||||||||||||||||||
payments of deferred financing costs | ||||||||||||||||||||||||||||||||
equity distributions | ||||||||||||||||||||||||||||||||
unrealized derivative instrument loss | -63,627,000 | -4,010,000 | -31,006,000 | 16,529,000 | -40,022,000 | 76,029,431 | -61,911,431 | 61,984,000 | 4,701,000 | |||||||||||||||||||||||
depreciation and accretion | 4,107,000 | 4,085,000 | 4,009,000 | 4,000,000 | 3,961,000 | 11,976,024 | -3,906,024 | 3,914,000 | 13,012,000 | 11,710,000 | 9,107,000 | 7,651,000 | ||||||||||||||||||||
income from equity method interests | -31,131,000 | -32,479,000 | -28,466,000 | -21,688,000 | -11,198,000 | -47,507,779 | 16,264,779 | -16,298,000 | -18,533,000 | -270,000 | ||||||||||||||||||||||
distributions from equity method interests | 36,217,000 | 35,666,000 | 38,281,000 | 23,810,000 | 20,312,000 | 60,397,464 | -20,947,464 | 20,985,000 | 21,925,000 | |||||||||||||||||||||||
impairments | 0 | 0 | 0 | 441,000 | 1,291,381,000 | |||||||||||||||||||||||||||
impairment on equity method interests | ||||||||||||||||||||||||||||||||
power credit | 1,346,000 | 562,000 | ||||||||||||||||||||||||||||||
warrants valuation adjustment | -442,000 | -664,000 | -222,000 | 664,000 | ||||||||||||||||||||||||||||
other | 2,335,000 | 99,000 | 90,000 | 217,000 | 2,587,000 | 780,511 | -460,511 | 461,000 | 241,000 | 1,230,000 | -363,000 | -201,000 | ||||||||||||||||||||
decrease in inventories | 100,000 | 99,000 | 64,000 | 365,744 | ||||||||||||||||||||||||||||
decrease in prepaid assets and other | 264,000 | 544,000 | -128,000 | -180,000 | ||||||||||||||||||||||||||||
increase in accounts receivable | -697,000 | -226,000 | -477,000 | |||||||||||||||||||||||||||||
decrease in revenue receivables | -2,736,000 | -17,000 | 188,000 | 226,000 | 597,000 | 3,484,111 | -3,750,111 | 3,752,000 | ||||||||||||||||||||||||
decrease in account receivables from/payable to affiliate | -8,754,000 | 29,000 | 272,000 | 279,000 | 126,000 | 915,699 | ||||||||||||||||||||||||||
increase in accrued expenses | -72,000 | 1,530,000 | 3,404,000 | 4,491,000 | -10,865,000 | 11,138,608 | -3,010,608 | 3,017,000 | -8,985,000 | 2,603,000 | 3,802,000 | 2,651,000 | ||||||||||||||||||||
increase in deferred charges, deferred credits and other noncurrent liabilities | ||||||||||||||||||||||||||||||||
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,320,000 | -821,000 | -1,117,000 | -1,330,000 | -441,000 | -29,513,480 | 19,069,480 | -19,096,000 | -35,640,000 | -47,715,000 | -94,777,000 | -164,518,000 | 0 | 0 | 0 | 0 |
free cash flows | 110,090,000 | 188,123,000 | 129,077,000 | 176,830,000 | 143,990,000 | 214,134,000 | 125,517,000 | 153,705,000 | 178,895,000 | 174,538,000 | 111,456,000 | 119,591,000 | 159,762,000 | 184,326,000 | 170,525,000 | 98,393,000 | 50,004,000 | 56,519,000 | 56,666,000 | 41,942,000 | 26,406,000 | 107,846,723 | -32,381,723 | 32,442,000 | 1,197,000 | -29,967,000 | -83,143,000 | -154,464,000 | 1,699,490 | -508,065 | -371,219 | -159,206 |
proceeds from sale of assets | 1,350,000 | 18,000 | 579,000 | 1,090,000 | 2,611,000 | 7,622,227 | -6,089,227 | 6,096,000 | ||||||||||||||||||||||||
contributions to equity method interests | -1,150,000 | -3,115,000 | -3,633,000 | -20,522,000 | -41,078,000 | -286,072,614 | 82,672,614 | -82,827,000 | -163,940,000 | -127,174,000 | ||||||||||||||||||||||
acquisition of equity method interests | 0 | -442,460,000 | ||||||||||||||||||||||||||||||
capitalized interest paid | -1,356,000 | -7,371,627 | 3,334,627 | -3,340,000 | ||||||||||||||||||||||||||||
redeemable noncontrolling interest - preferred unit limited partners | 0 | 0 | ||||||||||||||||||||||||||||||
distributions paid to preferred unit limited partners | -11,563,000 | -11,562,000 | -11,562,000 | -11,562,000 | -11,562,000 | |||||||||||||||||||||||||||
distributions paid to apache limited partner | -18,750,000 | -18,750,000 | -18,750,000 | -18,750,000 | ||||||||||||||||||||||||||||
dividends paid | -5,620,000 | -5,620,000 | -5,619,000 | -5,620,000 | ||||||||||||||||||||||||||||
proceeds from revolving credit facility | 0 | 0 | 0 | 33,000,000 | 44,000,000 | 183,903,000 | -71,903,000 | 72,000,000 | 161,000,000 | |||||||||||||||||||||||
finance lease | 0 | -11,777,211 | 11,777,211 | -11,789,000 | -5,807,000 | -9,725,000 | ||||||||||||||||||||||||||
deferred facility fees | 0 | -815,184 | 815,184 | -816,000 | 0 | 0 | ||||||||||||||||||||||||||
increase in cash and cash equivalents | 22,975,000 | 33,896,000 | 23,786,000 | 27,118,000 | ||||||||||||||||||||||||||||
cash and cash equivalents at beginning of year | 0 | 0 | 0 | 24,188,000 | 0 | 5,977,017 | -5,977,017 | 5,983,000 | 0 | 0 | 0 | 449,935,000 | ||||||||||||||||||||
cash and cash equivalents at end of period | 22,975,000 | 33,896,000 | 23,786,000 | 51,306,000 | 22,205,000 | 1,981,120 | -19,299,120 | 19,301,000 | 3,389,000 | -374,326,000 | 199,482,000 | 177,438,000 | ||||||||||||||||||||
supplemental cash flow data: | ||||||||||||||||||||||||||||||||
accrued capital expenditures | 202,000 | 305,000 | 578,000 | 254,591 | -6,555,591 | 6,557,000 | -5,733,000 | -6,024,000 | 538,000 | 29,792,000 | ||||||||||||||||||||||
finance lease liability | -19,233,000 | 0 | 0 | 29,000,000 | ||||||||||||||||||||||||||||
interest paid, net of capitalized interest | 2,498,000 | 2,399,000 | 2,315,000 | 2,328,000 | 919,000 | 218,000 | -808,000 | 1,261,000 | 232,000 | |||||||||||||||||||||||
cash received for income tax refunds | 0 | 695,304 | ||||||||||||||||||||||||||||||
decrease in accounts receivable | ||||||||||||||||||||||||||||||||
increase in deferred charges and other noncurrent liabilities | ||||||||||||||||||||||||||||||||
increase in prepaid assets and other | ||||||||||||||||||||||||||||||||
increase in deferred charges, deferred credits, and other noncurrent liabilities | -725,000 | -1,005,000 | ||||||||||||||||||||||||||||||
other income | -7,205,000 | |||||||||||||||||||||||||||||||
increase in inventories | -294,000 | -182,000 | -139,000 | |||||||||||||||||||||||||||||
adjustment for non-cash transactions with affiliate | ||||||||||||||||||||||||||||||||
increase in interest receivable | ||||||||||||||||||||||||||||||||
recapitalization transaction | ||||||||||||||||||||||||||||||||
deferred income tax benefit | ||||||||||||||||||||||||||||||||
redeemable noncontrolling interest — preferred unit limited partners | ||||||||||||||||||||||||||||||||
decrease in cash and cash equivalents | -3,995,897 | |||||||||||||||||||||||||||||||
increase deferred credits and noncurrent liabilities | -1,823,618 | 1,825,000 | ||||||||||||||||||||||||||||||
increase in account receivables from/payable to affiliate | -948,000 | |||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | 13,318,000 | |||||||||||||||||||||||||||||||
net loss including noncontrolling interests | -1,330,942,000 | |||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||||||||||||
decrease in prepaid and other | 3,640,000 | 548,000 | ||||||||||||||||||||||||||||||
increase in revenue receivables | -3,734,000 | -612,000 | ||||||||||||||||||||||||||||||
increase in inventories and other | ||||||||||||||||||||||||||||||||
increase in accounts receivable from/payable to affiliate | ||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -374,326,000 | 199,482,000 | -272,497,000 | |||||||||||||||||||||||||||||
loss from equity method interests | ||||||||||||||||||||||||||||||||
decrease in inventories and other | ||||||||||||||||||||||||||||||||
increase in prepaid and other | -809,000 | |||||||||||||||||||||||||||||||
increase in accounts payable to affiliate | -4,371,000 | |||||||||||||||||||||||||||||||
contributions to equity method interest | -66,224,000 | |||||||||||||||||||||||||||||||
acquisition of equity method interest | -51,809,000 | |||||||||||||||||||||||||||||||
net loss including noncontrolling interest | ||||||||||||||||||||||||||||||||
decrease in prepayments and other | ||||||||||||||||||||||||||||||||
decrease in interest receivable | ||||||||||||||||||||||||||||||||
joint venture equity interest | ||||||||||||||||||||||||||||||||
net income | -953,653 | 582,842 | 714,711 | |||||||||||||||||||||||||||||
trust income retained in trust account | -1,672,170 | -887,540 | -648,210 | |||||||||||||||||||||||||||||
increase in prepaid expenses and other assets | 69,562 | |||||||||||||||||||||||||||||||
increase in accrued expenses and taxes | 2,048,196 | |||||||||||||||||||||||||||||||
net cash from investing activities: | ||||||||||||||||||||||||||||||||
cash deposited into trust account | ||||||||||||||||||||||||||||||||
proceeds from public offering | ||||||||||||||||||||||||||||||||
proceeds from sale of private placement warrants | ||||||||||||||||||||||||||||||||
payment of underwriting costs | ||||||||||||||||||||||||||||||||
payment of offering costs | ||||||||||||||||||||||||||||||||
proceeds from sponsor note | 500,000 | |||||||||||||||||||||||||||||||
payment of sponsor note | ||||||||||||||||||||||||||||||||
net increase in cash | -8,065 | |||||||||||||||||||||||||||||||
cash at beginning of period | 0 | 0 | 479,055 | |||||||||||||||||||||||||||||
cash at end of period | -8,065 | -271,219 | 319,849 | |||||||||||||||||||||||||||||
supplemental disclosure of cash flow information: | ||||||||||||||||||||||||||||||||
deferred underwriting compensation | ||||||||||||||||||||||||||||||||
income and franchise taxes paid | 40,000 | 591,463 | 523,050 | |||||||||||||||||||||||||||||
net cash from in financing activities | ||||||||||||||||||||||||||||||||
offering costs included in accrued formation and offering costs | ||||||||||||||||||||||||||||||||
decrease in prepaid expenses and other assets | 11,229 | |||||||||||||||||||||||||||||||
decrease in accrued expenses and taxes | -236,936 | |||||||||||||||||||||||||||||||
net decrease in cash | -159,206 | |||||||||||||||||||||||||||||||
current tax liability | -220,145 | |||||||||||||||||||||||||||||||
deferred tax asset: | ||||||||||||||||||||||||||||||||
deferred general and administrative expenses | 358,301 | |||||||||||||||||||||||||||||||
valuation allowance at 21% | -358,301 | |||||||||||||||||||||||||||||||
deferred tax asset | ||||||||||||||||||||||||||||||||
net loss | ||||||||||||||||||||||||||||||||
net cash from investing activities, | ||||||||||||||||||||||||||||||||
proceeds from sale of class b convertible common stock to sponsor | ||||||||||||||||||||||||||||||||
deferred underwriting compensation and offering costs | ||||||||||||||||||||||||||||||||
income taxes paid | ||||||||||||||||||||||||||||||||
investments held in trust account |