v3.25.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues and other        
Total revenues and other [1] $ 942,322 $ 905,629 $ 1,859,438 $ 1,793,358
Equity income, net – related parties 27,128 27,431 47,563 60,250
Operating expenses        
Cost of product 42,681 54,010 84,173 100,089
Operation and maintenance 224,629 223,319 451,143 418,258
General and administrative 66,146 62,933 132,932 130,772
Property and other taxes 17,805 17,429 35,631 31,349
Depreciation and amortization 172,113 163,432 342,573 321,423
Long-lived asset and other impairments 686 1,530 689 1,553
Total operating expenses [2] 524,060 522,653 1,047,141 1,003,444
Gain (loss) on divestiture and other, net (911) 59,342 (5,578) 298,959
Operating income (loss) 444,479 469,749 854,282 1,149,123
Interest expense (95,170) (90,522) (192,463) (185,028)
Gain (loss) on early extinguishment of debt 0 4,879 0 5,403
Other income (expense), net 3,692 4,213 11,169 6,559
Income (loss) before income taxes 353,001 388,319 672,988 976,057
Income tax expense (benefit) 2,239 755 5,674 2,277
Net income (loss) 350,762 387,564 667,314 973,780
Net income (loss) attributable to noncontrolling interests 9,082 8,916 16,627 22,302
Net income (loss) attributable to Western Midstream Partners, LP 341,680 378,648 650,687 951,478
Limited partners' interest in net income (loss):        
Net income (loss) attributable to Western Midstream Partners, LP 341,680 378,648 650,687 951,478
General partner interest in net (income) loss (7,930) (8,807) (15,100) (22,137)
Limited partners' interest in net income (loss) [3] $ 333,750 $ 369,841 $ 635,587 $ 929,341
Net income (loss) per common unit - basic [3] $ 0.88 $ 0.97 $ 1.67 $ 2.44
Net income (loss) per common unit - diluted [3] $ 0.87 $ 0.97 $ 1.66 $ 2.43
Weighted-average common units outstanding - basic [3] 381,328 380,491 381,158 380,258
Weighted-average common units outstanding - diluted [3] 382,326 382,253 382,398 381,933
Service Revenues - Fee Based [Member]        
Revenues and other        
Total revenues and other $ 851,419 $ 793,785 $ 1,674,616 $ 1,575,047
Service Revenues - Product Based [Member]        
Revenues and other        
Total revenues and other 50,442 61,466 109,694 128,206
Product Sales [Member]        
Revenues and other        
Total revenues and other 40,280 50,111 74,749 89,403
Other [Member]        
Revenues and other        
Total revenues and other $ 181 $ 267 $ 379 $ 702
[1] Total revenues and other includes related-party amounts of $576.2 million and $1.1 billion for the three and six months ended June 30, 2025, respectively, and $534.1 million and $1.0 billion for the three and six months ended June 30, 2024, respectively. See Note 6.
[2] Total operating expenses includes related-party amounts of $(7.3) million and $(19.4) million for the three and six months ended June 30, 2025, respectively, and $0.3 million and $(25.7) million for the three and six months ended June 30, 2024, respectively. See Note 6.
[3] See Note 5.