v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 500.7 $ 142.9 $ (315.6)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 639.4 607.5 638.6
Impairments 0.0 0.8 362.8
(Gain) loss on disposition of assets 18.0 (1.5) 8.8
Non-cash unit-based compensation 30.4 25.3 28.4
Utility credits redeemed (earned) 31.1 (32.6) 0.0
Non-cash (gain) loss on derivatives recognized in net income (loss) (38.3) 10.3 14.8
(Gain) loss on extinguishment of debt 6.2 0.0 (32.0)
Amortization of debt issuance costs and net discount of senior unsecured notes 5.5 5.2 4.6
Amortization of designated cash flow hedge 1.9 12.5 0.5
Payments to terminate interest rate swaps 0.0 (1.8) (10.9)
Deferred income tax expense (benefit) (95.3) 24.6 142.1
(Income) loss from unconsolidated affiliate investments 5.6 11.5 (0.6)
Other operating activities (4.3) (2.2) 0.8
Changes in assets and liabilities:      
Accounts receivable, accrued revenue, and other 102.4 (259.9) (21.5)
Natural gas and NGLs inventory, prepaid expenses, and other (115.0) (13.6) 15.1
Accounts payable, accrued product purchases, and other accrued liabilities (39.0) 328.3 (104.8)
Net cash provided by operating activities 1,049.3 857.3 731.1
Cash flows from investing activities:      
Additions to property and equipment (332.5) (184.0) (302.2)
Acquisitions, net of cash acquired (390.3) (56.7) (32.3)
Contributions to unconsolidated affiliate investments (65.9) 0.0 0.0
Proceeds from sale of property 12.8 4.8 17.6
Other investing activities 2.9 4.5 (0.8)
Net cash used in investing activities (773.0) (231.4) (317.7)
Cash flows from financing activities:      
Proceeds from borrowings 4,911.5 1,234.5 1,650.0
Repayments on borrowings (4,549.3) (1,469.5) (1,786.0)
Debt financing costs (14.1) (0.3) (7.7)
Payment of installment payable for the Amarillo Rattler Acquisition (10.0) 0.0 0.0
Payment of inactive easement commitment (10.0) 0.0 0.0
Common unit repurchases (175.0) (40.1) (1.2)
Conversion of unit-based awards for common units, net of units withheld for taxes (16.1) (2.0) (4.7)
Distributions to members (221.4) (186.8) (232.7)
Distributions to non-controlling interests (162.9) (130.8) (121.2)
Contributions from non-controlling interests 32.9 3.2 52.6
Other financing activities 0.2 2.5 (0.3)
Net cash used in financing activities (279.9) (639.3) (451.2)
Net decrease in cash and cash equivalents (3.6) (13.4) (37.8)
Cash and cash equivalents, beginning of period 26.2 39.6 77.4
Cash and cash equivalents, end of period 22.6 26.2 39.6
Series B Preferred Units      
Cash flows from financing activities:      
Redemption and repurchase of preferred units (50.5) (50.0) 0.0
Series C Preferred Units      
Cash flows from financing activities:      
Redemption and repurchase of preferred units $ (15.2) $ 0.0 $ 0.0

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