| Additional Financial Statement Information |
3.Additional Financial Statement Information
Balance Sheet Other Balance Sheet information is as follows:
|
|
|
|
|
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|
(in thousands) |
|
December 31, |
|
|
2021 |
|
2020 |
Other Receivables |
|
|
|
|
|
|
Insurance and Third Party Receivables for Remediation Expenses |
|
$ |
3,099 |
|
$ |
2,543 |
Reimbursable Projects |
|
|
1,018 |
|
|
— |
Capital Call Receivable |
|
|
— |
|
|
1,160 |
Other |
|
|
9 |
|
|
19 |
Total Other Receivables |
|
$ |
4,126 |
|
$ |
3,722 |
|
|
|
|
|
|
|
Prepaids and Deposits |
|
|
|
|
|
|
Prepaid Insurance and Other |
|
$ |
5,953 |
|
$ |
4,243 |
Deposits |
|
|
90 |
|
|
72 |
Total Prepaids and Deposits |
|
$ |
6,043 |
|
$ |
4,315 |
|
|
|
|
|
|
|
Accrued and Other Current Liabilities |
|
|
|
|
|
|
Accrued Operating Expense |
|
$ |
17,774 |
|
$ |
14,367 |
Accrued Capital Costs |
|
|
4,603 |
|
|
6,292 |
Accrued Interest |
|
|
7,625 |
|
|
2,661 |
Accrued Bonus |
|
|
3,955 |
|
|
2,429 |
Dividends and Distribution Payable (1) |
|
|
3,847 |
|
|
— |
Other |
|
|
2,660 |
|
|
2,089 |
Total Accrued and Other Current Liabilities |
|
$ |
40,464 |
|
$ |
27,838 |
(1) See Note 12. Stockholders’ and Members’ Equity.
Statement of Operations Other Statement of Operations information is as follows:
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|
|
|
|
|
|
|
|
(in thousands) |
|
Year Ended December 31, |
|
|
2021 |
|
2020 |
|
2019 |
Depreciation, Amortization and Accretion Expense |
|
|
|
|
|
|
|
|
|
Depreciation - Property, Plant and Equipment |
|
$ |
27,880 |
|
$ |
23,388 |
|
$ |
13,450 |
Amortization - Intangible Assets |
|
|
32,605 |
|
|
20,413 |
|
|
6,075 |
Accretion of Asset Retirement Obligations |
|
|
282 |
|
|
226 |
|
|
145 |
Total Depreciation, Amortization and Accretion Expense |
|
$ |
60,767 |
|
$ |
44,027 |
|
$ |
19,670 |
|
|
|
|
|
|
|
|
|
|
Other Operating Expenses |
|
|
|
|
|
|
|
|
|
Loss (Gain) on Disposal of Asset, Net |
|
$ |
275 |
|
$ |
133 |
|
$ |
(5,100) |
Transaction Costs |
|
|
335 |
|
|
3,389 |
|
|
1,010 |
Abandoned Projects (1) |
|
|
2,047 |
|
|
2,125 |
|
|
2,444 |
Total Other Operating Expense (Income), Net |
|
$ |
2,657 |
|
$ |
5,647 |
|
$ |
(1,646) |
|
|
|
|
|
|
|
|
|
|
Interest Expense |
|
|
|
|
|
|
|
|
|
Interest on Debt Instruments |
|
$ |
26,221 |
|
$ |
10,711 |
|
$ |
5,727 |
Less: Capitalized Interest |
|
|
(2,791) |
|
|
(3,820) |
|
|
(5,978) |
Interest on Debt Instruments Less Capitalized Interest |
|
|
23,430 |
|
|
6,891 |
|
|
(251) |
Amortization of Financing Costs |
|
|
2,043 |
|
|
783 |
|
|
511 |
Interest Expense, Net |
|
$ |
25,473 |
|
$ |
7,674 |
|
$ |
260 |
| (1) |
Abandoned Projects expense is primarily related to expirations of legacy permits and rights-of-way for projects that were not ultimately constructed. |
Significant Customers
Customers that comprised more than 10% of our total revenues are as follows:
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Year Ended December 31, |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
ConocoPhillips |
|
46 |
% |
|
38 |
% |
|
20 |
% |
Marathon Oil |
|
** |
% |
|
** |
% |
|
16 |
% |
Oxy USA |
|
10 |
% |
|
15 |
% |
|
15 |
% |
XTO Energy Inc. |
|
** |
% |
|
10 |
% |
|
** |
% |
** |
Revenues were less than 10% |
As of December 31, 2021, ConocoPhillips accounted for 37%, Chevron Corporation accounted for 11% and Marathon Oil Corporation accounted for 10% of accounts receivable. As of December 31, 2020, ConocoPhillips accounted for 33%, OXY USA Inc. accounted for 15% and Marathon Oil Corporation accounted for 12% of accounts receivable.
Supplemental Non-Cash Disclosure
Significant non-cash activity for the years ended December 31, 2021, 2020 and 2019 is discussed in the following locations:
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Non-Cash Item |
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Location |
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Cash Paid for Interest |
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Consolidated Statements of Cash Flows |
Cash Paid for Income Taxes |
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Consolidated Statements of Cash Flows |
Non-Cash Investing and Financial Activities |
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Equity Issued in Acquisitions |
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Note 4. Acquisitions |
Redeemable Preferred Units Issued in Acquisition |
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Note 4. Acquisitions |
Redeemable Preferred Units Converted |
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Note 10. Redeemable Preferred Units |
Accretion and Dividend Related to Redeemable Preferred Units |
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Consolidated Statements of Stockholders' and Members' Equity |
Asset Retirement Obligations |
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Note 7. Asset Retirement Obligations |
Accrued Additions to Property, Plant and Equipment |
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Note 5. Property, Plant and Equipment |
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