Reportable Segment (Tables)

6 Months Ended

Jun. 30, 2025

The following table presents information about the Partnership’s single operating and reportable segment including (i) total revenues and other, (ii) significant expenses, and (iii) other segment items:



	Three Months Ended June 30,				Six Months Ended June 30,
thousands	2025		2024		2025		2024
Revenues from external customers (1)	$	942,141	$	905,362	$	1,859,059	$	1,792,656
Other revenues	181		267		379		702
Total revenues and other	942,322		905,629		1,859,438		1,793,358
Equity income, net – related parties	27,128		27,431		47,563		60,250
Less significant expenses: (2)
Operation and maintenance	224,629		223,319		451,143		418,258
Cash general and administrative costs (3)	54,009		51,579		111,713		109,078
Less other segment items:
Depreciation and amortization	172,113		163,432		342,573		321,423
Interest expense	95,170		90,522		192,463		185,028
Other (income) expense, net (4)	(3,692)		(4,213)		(11,169)		(6,559)
Income tax expense (benefit)	2,239		755		5,674		2,277
Other (5)	74,220		20,102		147,290		(149,677)
Net income (loss)	$	350,762	$	387,564	$	667,314	$	973,780

_________________________________________________________________________________________

(1)Includes Service revenue - fee based, Service revenue - product based, and Product sales.

(2)The significant expense categories and amounts align with the information that is regularly provided to the CODM.

(3)General and administrative expense as presented in the consolidated statements of operations less non-cash equity-based compensation expense and non-cash amortization of cloud-computing arrangements.

(4)Includes interest income earned on cash and cash equivalent balances.

(5)Other includes: (i) Cost of product, (ii) Non-cash equity-based compensation expense, (iii) non-cash amortization of cloud-computing arrangements, (iv) Property and other taxes, (v) Long-lived asset and other impairments, (vi) Gain (loss) on divestiture and other, net, and (vii) Gain (loss) on early extinguishment of debt.