v3.26.3
Reportable Segments (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
The tables below show financial information by segment (in millions):

For the Three Months Ended September 30, 2026
Natural Gas
Natural Gas LiquidsTotal
Revenue from external customers$417.1 $196.5 $613.6 
Less:
Costs associated with service revenues$1.9 $6.3 
Costs associated with product sales37.7 114.3 
Operation and maintenance72.3 13.8 
Administrative and general55.1 7.3 
Taxes other than income taxes32.5 3.3 
Loss on sale of assets, impairments and other8.7 0.1 
Miscellaneous other income, net(1.8)— 
Segment EBITDA$210.7 $51.4 $262.1 
Reconciliation of profit or loss:
Depreciation and amortization$112.4 
Interest expense34.9 
Interest income(0.9)
Consolidated income before income taxes$115.7 
For the Three Months Ended September 30, 2025
Natural GasNatural Gas LiquidsTotal
Revenue from external customers$358.7 $182.2 $540.9 
Less:
Costs associated with service revenues$3.2 $5.2 
Costs associated with product sales— 101.9 
Operation and maintenance67.8 11.9 
Administrative and general42.6 7.8 
Taxes other than income taxes29.4 3.2 
Loss on sale of assets, impairments and other0.2 — 
Miscellaneous other income, net(1.0)— 
Segment EBITDA$216.5 $52.2 $268.7 
Reconciliation of profit or loss:
Depreciation and amortization$106.2 
Interest expense39.5 
Interest income(4.0)
Consolidated income before income taxes$127.0 
For the Nine Months Ended September 30, 2026
Natural Gas
Natural Gas LiquidsTotal
Revenue from external customers$1,246.1 $562.9 $1,809.0 
Less:
Costs associated with service revenues$16.4 $16.1 
Costs associated with product sales52.0 311.9 
Operation and maintenance183.2 38.2 
Administrative and general159.8 20.8 
Taxes other than income taxes96.3 9.5 
Loss on sale of assets, impairments and other8.4 0.1 
Miscellaneous other income, net(6.1)(0.1)
Segment EBITDA$736.1 $166.4 $902.5 
Reconciliation of profit or loss:
Depreciation and amortization$333.8 
Interest expense113.9 
Interest income(7.7)
Consolidated income before income taxes$462.5 
For the Nine Months Ended September 30, 2025
Natural GasNatural Gas LiquidsTotal
Revenue from external customers$1,131.8 $561.7 $1,693.5 
Less:
Costs associated with service revenues$9.8 $13.8 
Costs associated with product sales— 320.4 
Operation and maintenance178.4 34.5 
Administrative and general124.1 21.1 
Taxes other than income taxes88.6 9.6 
Gain on sale of assets, impairments and other(0.7)— 
Miscellaneous other income, net(2.8)— 
Segment EBITDA$734.4 $162.3 $896.7 
Reconciliation of profit or loss:
Depreciation and amortization$330.6 
Interest expense118.8 
Interest income(8.0)
Consolidated income before income taxes$455.3 

Segment assets include Property, plant, and equipment – net, Intangible assets – net of accumulated amortization and Goodwill. The following table reflects segment assets (in millions):
As of September 30, 2026As of December 31, 2025
Natural Gas
$8,014.4 $7,591.2 
Natural Gas Liquids1,448.9 1,483.8 
Total Segment Assets
$9,463.3 $9,075.0 


The following table reflects capital expenditures by segment (in millions):
For the Nine Months Ended September 30,
20262025
Natural Gas (1)
$520.2 $198.7 
Natural Gas Liquids30.0 23.7 
Total
$550.2 $222.4 

(1)In the 2026 period, the Natural Gas segment also spent $205.7 million on the acquisition of Continuum.