Segments (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Financial Data for Each Reportable Segment

The following tables reflect certain financial data for each reportable segment:


		Gathering				Processing and Storage				Terminaling and Export				Total Reportable Segments				Interest and Other				Consolidated
(in millions)
For the Three Months Ended June 30, 2026
Revenues and other income		$	209.8			$	151.3			$	37.9			$	399.0			$	-			$	399.0
Operating and maintenance expenses (exclusive of depreciation shown separately below)			50.4				28.0				7.5				85.9				-				85.9
Depreciation expense			36.6				13.4				4.4				54.4				-				54.4
General and administrative expenses			2.8				0.9				0.3				4.0				1.5				5.5
Income from equity investments			-				6.1				-				6.1				-				6.1
Interest expense, net			-				-				-				-				54.5				54.5
Income tax expense			-				-				-				-				31.1				31.1
Adjusted EBITDA			156.6				128.5				30.1				315.2
Capital expenditures			25.7				4.9				-				30.6

		Gathering				Processing and Storage				Terminaling and Export				Total Reportable Segments				Interest and Other				Consolidated
(in millions)
For the Three Months Ended June 30, 2025
Revenues and other income		$	222.4			$	157.9			$	33.9			$	414.2			$	-			$	414.2
Operating and maintenance expenses (exclusive of depreciation shown separately below)			54.7				30.6				8.8				94.1				-				94.1
Depreciation expense			32.7				14.8				4.3				51.8				-				51.8
General and administrative expenses			3.2				1.9				0.2				5.3				2.8				8.1
Income from equity investments			-				4.0				-				4.0				-				4.0
Interest expense, net			-				-				-				-				55.4				55.4
Income tax expense			-				-				-				-				29.1				29.1
Adjusted EBITDA			164.5				129.4				24.9				318.8
Capital expenditures			65.1				4.8				0.1				70.0


		Gathering				Processing and Storage				Terminaling and Export				Total Reportable Segments				Interest and Other				Consolidated
(in millions)
For the Six Months Ended June 30, 2026
Revenues and other income		$	413.9			$	299.7			$	75.5			$	789.1			$	-			$	789.1
Operating and maintenance expenses (exclusive of depreciation shown separately below)			100.1				57.3				14.1				171.5				-				171.5
Depreciation expense			74.3				29.8				8.8				112.9				-				112.9
General and administrative expenses			6.9				2.3				0.6				9.8				3.6				13.4
Income from equity investments			-				9.3				-				9.3				-				9.3
Interest expense, net			-				-				-				-				109.9				109.9
Income tax expense			-				-				-				-				59.3				59.3
Adjusted EBITDA			306.9				249.4				60.8				617.1
Capital expenditures			31.5				9.5				-				41.0

		Gathering				Processing and Storage				Terminaling and Export				Total Reportable Segments				Interest and Other				Consolidated
(in millions)
For the Six Months Ended June 30, 2025
Revenues and other income		$	426.0			$	305.7			$	64.5			$	796.2			$	-			$	796.2
Operating and maintenance expenses (exclusive of depreciation shown separately below)			105.1				58.3				16.3				179.7				-				179.7
Depreciation expense			65.1				29.5				8.7				103.3				-				103.3
General and administrative expenses			6.2				3.6				0.5				10.3				5.3				15.6
Income from equity investments			-				7.4				-				7.4				-				7.4
Interest expense, net			-				-				-				-				111.8				111.8
Income tax expense			-				-				-				-				52.1				52.1
Adjusted EBITDA			314.7				251.2				47.7				613.6
Capital expenditures			112.8				7.2				0.1				120.1

Reconciliation of Reportable Segment Adjusted EBITDA to Income Before Income Tax Expense

The following table presents a reconciliation of reportable segment Adjusted EBITDA to income before income tax expense:


		Three Months Ended June 30,								Six Months Ended June 30,
(in millions)		2026				2025				2026				2025
Reconciliation of reportable segment Adjusted EBITDA to income before income tax expense:
Total reportable segment Adjusted EBITDA		$	315.2			$	318.8			$	617.1			$	613.6
Less:
Depreciation expense			54.4				51.8				112.9				103.3
Unallocated general and administrative expenses			1.5				2.8				3.6				5.3
Interest expense, net			54.5				55.4				109.9				111.8
Income before income tax expense		$	204.8			$	208.8			$	390.7			$	393.2

Total Assets for Reportable Segments

Total assets for the reportable segments are as follows:



		June 30, 2026				December 31, 2025
(in millions)
Gathering		$	2,374.2			$	2,413.7
Processing and Storage(1)			936.6				962.8
Terminaling and Export			224.9				230.8
Total reportable segments assets			3,535.7				3,607.3
Interest and Other			720.9				781.0
Total consolidated assets		$	4,256.6			$	4,388.3

(1) Includes investment in equity investees of $83.2 million as of June 30, 2026 and $81.5 million as of December 31, 2025.