2024 Q2 Form 10-Q Financial Statement

#000159200024000007 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $1.551B $1.648B
YoY Change 1.37% -6.77%
Cost Of Revenue $1.063B $1.150B
YoY Change 4.28% -9.55%
Gross Profit $333.3M $497.5M
YoY Change -34.79% 36.98%
Gross Profit Margin 21.49% 30.19%
Selling, General & Admin $30.20M $55.20M
YoY Change 5.59% 81.58%
% of Gross Profit 9.06% 11.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $162.6M $165.3M
YoY Change -1.63% 3.05%
% of Gross Profit 48.78% 33.23%
Operating Expenses $348.0M $373.1M
YoY Change 5.45% 15.76%
Operating Profit $139.6M $124.4M
YoY Change -22.92% -28.38%
Interest Expense -$66.70M -$66.20M
YoY Change -9.62% -2.07%
% of Operating Profit -47.78% -53.22%
Other Income/Expense, Net -$62.60M $500.0K
YoY Change -7925.0% -100.73%
Pretax Income $77.00M $46.20M
YoY Change -29.29% -56.04%
Income Tax $10.00M -$3.800M
% Of Pretax Income 12.99% -8.23%
Net Earnings $38.10M $14.50M
YoY Change -29.83% -75.09%
Net Earnings / Revenue 2.46% 0.88%
Basic Earnings Per Share $0.07 $0.03
Diluted Earnings Per Share $0.07 $0.03
COMMON SHARES
Basic Shares Outstanding 451.3M shares 453.2M shares
Diluted Shares Outstanding 454.1M shares 454.2M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.800M $16.80M
YoY Change -89.42% -76.92%
Cash & Equivalents $5.800M $16.80M
Short-Term Investments
Other Short-Term Assets $102.7M $63.70M
YoY Change -6.81% -32.23%
Inventory $73.30M $40.40M
Prepaid Expenses
Receivables $59.90M $57.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $814.2M $712.1M
YoY Change 4.14% -17.11%
LONG-TERM ASSETS
Property, Plant & Equipment $6.313B $6.360B
YoY Change -2.93% -2.8%
Goodwill
YoY Change
Intangibles $729.9M $761.8M
YoY Change -14.87% -14.34%
Long-Term Investments $162.8M $159.8M
YoY Change 21.22% 13.82%
Other Assets $120.7M $112.4M
YoY Change -1.47% 11.73%
Total Long-Term Assets $7.338B $7.416B
YoY Change -3.68% -3.53%
TOTAL ASSETS
Total Short-Term Assets $814.2M $712.1M
Total Long-Term Assets $7.338B $7.416B
Total Assets $8.152B $8.128B
YoY Change -2.95% -4.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $86.90M $113.0M
YoY Change -14.13% 1.44%
Accrued Expenses $249.3M $247.9M
YoY Change -51.05% 26.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $421.2M $97.90M
YoY Change 330.23%
Total Short-Term Liabilities $1.255B $913.0M
YoY Change 56.5% 28.88%
LONG-TERM LIABILITIES
Long-Term Debt $4.236B $4.470B
YoY Change -8.72% -7.43%
Other Long-Term Liabilities $79.00M $83.50M
YoY Change -28.38% -13.56%
Total Long-Term Liabilities $4.315B $4.553B
YoY Change -9.18% -7.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.255B $913.0M
Total Long-Term Liabilities $4.315B $4.553B
Total Liabilities $5.570B $5.466B
YoY Change -23.06% -2.96%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $918.0M $896.2M
YoY Change
Total Liabilities & Shareholders Equity $8.152B $8.128B
YoY Change -2.95% -4.9%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $38.10M $14.50M
YoY Change -29.83% -75.09%
Depreciation, Depletion And Amortization $162.6M $165.3M
YoY Change -1.63% 3.05%
Cash From Operating Activities $162.6M $293.3M
YoY Change -48.5% 7.79%
INVESTING ACTIVITIES
Capital Expenditures $100.4M $110.4M
YoY Change -1.95% 9.63%
Acquisitions
YoY Change
Other Investing Activities -$8.200M $5.700M
YoY Change -348.48% -1525.0%
Cash From Investing Activities -$108.6M -$125.5M
YoY Change 9.59% -16.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $632.4M
YoY Change -40.75%
Cash From Financing Activities -65.00M -$179.7M
YoY Change -72.29% 149.93%
NET CHANGE
Cash From Operating Activities 162.6M $293.3M
Cash From Investing Activities -108.6M -$125.5M
Cash From Financing Activities -65.00M -$179.7M
Net Change In Cash -11.00M -$11.90M
YoY Change -38.89% -123.71%
FREE CASH FLOW
Cash From Operating Activities $162.6M $293.3M
Capital Expenditures $100.4M $110.4M
Free Cash Flow $62.20M $182.9M
YoY Change -70.84% 6.71%

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<div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The table below provides a summary of the Board’s authorizations of the 2023 and 2024 common unit repurchase programs.</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.993%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.607%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.786%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Board Action</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Authorized Amount<br/>(in millions)(1)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 2022</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reauthorization of common unit repurchase program and set amount available for repurchases for 2023</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">200 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 2023</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Increase in 2023 common unit repurchase program</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 2023</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reauthorization of common unit repurchase program and set amount available for repurchases for 2024</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">200 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">____________________________</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:105%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:105%;padding-left:7.52pt">The authorized amount includes repurchases of common units held by GIP. Refer to “Note 4—Related Party Transactions” for more information on our ENLC common unit repurchase agreement with GIP.</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes our ENLC common unit repurchase activity for the periods presented (in millions, except for unit amounts):</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.046%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.036%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended<br/>March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Publicly held ENLC common units</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,166,805 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,207,305 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">ENLC common units held by GIP (1)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,280,637 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,237,110 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total ENLC common units</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,447,442 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,444,415 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Aggregate cost for publicly held ENLC common units</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26.9 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26.8 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Aggregate cost for ENLC common units held by GIP</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41.5 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24.6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Excise tax on common unit repurchases</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.2 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total aggregate cost for ENLC common units</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">68.6 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51.4 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average price paid per publicly held ENLC common unit (2)</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.41 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.14 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average price paid per ENLC common unit held by GIP (2)(3)</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.66 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.01 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">____________________________</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.52pt">The units repurchased in each quarter represent GIP’s pro rata share of the aggregate number of common units repurchased by us under our common unit repurchase program during the prior quarter.</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.52pt">The average price paid per common unit excludes excise tax on common unit repurchases.</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.52pt">The per unit price we paid to GIP in each quarter was the average per unit price paid by us for publicly held ENLC common units repurchased in the prior quarter, less broker commissions.</span></div>
CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
200000000 usd
CY2023Q4 enlc Stock Repurchase Program Authorized Amount Increase
StockRepurchaseProgramAuthorizedAmountIncrease
50000000 usd
CY2023Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
200000000 usd
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
5447442 shares
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4444415 shares
CY2024Q1 enlc Excise Taxes Paid For Common Unit Repurchases
ExciseTaxesPaidForCommonUnitRepurchases
200000 usd
CY2023Q1 enlc Excise Taxes Paid For Common Unit Repurchases
ExciseTaxesPaidForCommonUnitRepurchases
0 usd
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
68600000 usd
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
51400000 usd
CY2024Q1 enlc Accrued Liabilities Current Common Unit Repurchases
AccruedLiabilitiesCurrentCommonUnitRepurchases
23100000 usd
CY2024Q1 us-gaap Distributed Earnings
DistributedEarnings
60500000 usd
CY2023Q1 us-gaap Distributed Earnings
DistributedEarnings
59500000 usd
CY2024Q1 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
-46000000.0 usd
CY2024Q1 us-gaap Undistributed Earnings
UndistributedEarnings
-46000000.0 usd
CY2023Q1 us-gaap Undistributed Earnings
UndistributedEarnings
-1300000 usd
CY2023Q1 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
-1300000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14500000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14500000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
58200000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
58200000 usd
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
451300000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
468900000 shares
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
451300000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
468900000 shares
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2900000 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4400000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
454200000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
473300000 shares
CY2023Q4 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.1325
CY2024Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.1325
CY2022Q4 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.1250
CY2023Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.1250
CY2024Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
9400000 usd
CY2023Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
49700000 usd
CY2024Q1 us-gaap Cash Dividends Paid To Parent Company By Unconsolidated Subsidiaries
CashDividendsPaidToParentCompanyByUnconsolidatedSubsidiaries
0 usd
CY2023Q1 us-gaap Cash Dividends Paid To Parent Company By Unconsolidated Subsidiaries
CashDividendsPaidToParentCompanyByUnconsolidatedSubsidiaries
100000 usd
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-800000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-100000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5600000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000000.0 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1300000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
900000 usd
CY2023Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
400000000 usd
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
1700000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
700000 usd
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
2500000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
0 usd
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
5900000 usd
CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
1500000 usd
CY2023Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
500000 usd
CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
4300000 usd
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
30800000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
32100000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
6700000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
5500000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
6200000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1676900000 usd
CY2024Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-2900000 usd
CY2024Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-26100000 usd
CY2024Q1 us-gaap Revenues
Revenues
1647900000 usd
CY2024Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1150400000 usd
CY2024Q1 enlc Adjusted Gross Margin
AdjustedGrossMargin
497500000 usd
CY2024Q1 enlc Other Cost And Expense Income Operating
OtherCostAndExpenseIncomeOperating
152600000 usd
CY2024Q1 us-gaap Gross Profit
GrossProfit
344900000 usd
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
165300000 usd
CY2024Q1 enlc Gross Profit After Depreciation And Amortization
GrossProfitAfterDepreciationAndAmortization
179600000 usd
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
14200000 usd
CY2024Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
1700000 usd
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
55200000 usd
CY2024Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-65400000 usd
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-800000 usd
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
500000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
46200000 usd
CY2024Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
103400000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1755600000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
13300000 usd
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-1400000 usd
CY2023Q1 us-gaap Revenues
Revenues
1767500000 usd
CY2023Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1271900000 usd
CY2023Q1 enlc Adjusted Gross Margin
AdjustedGrossMargin
495600000 usd
CY2023Q1 enlc Other Cost And Expense Income Operating
OtherCostAndExpenseIncomeOperating
132400000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
363200000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
160400000 usd
CY2023Q1 enlc Gross Profit After Depreciation And Amortization
GrossProfitAfterDepreciationAndAmortization
202800000 usd
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
400000 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
29500000 usd
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-68500000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-100000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
105100000 usd
CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
114100000 usd
CY2024Q1 us-gaap Assets
Assets
8128000000 usd
CY2023Q4 us-gaap Assets
Assets
8328600000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
40400000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
46400000 usd
CY2024Q1 enlc Prepaid Expenses And Other Current
PrepaidExpensesAndOtherCurrent
23300000 usd
CY2023Q4 enlc Prepaid Expenses And Other Current
PrepaidExpensesAndOtherCurrent
19000000.0 usd
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
63700000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
65400000 usd
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
63600000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
63400000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12700000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
23200000 usd
CY2024Q1 enlc Accrued Ad Valorem Taxes
AccruedAdValoremTaxes
12100000 usd
CY2023Q4 enlc Accrued Ad Valorem Taxes
AccruedAdValoremTaxes
33300000 usd
CY2024Q1 enlc Accrued Capital Expenditures
AccruedCapitalExpenditures
56300000 usd
CY2023Q4 enlc Accrued Capital Expenditures
AccruedCapitalExpenditures
64600000 usd
CY2024Q1 enlc Onerous Contract Obligation Current
OnerousContractObligationCurrent
32700000 usd
CY2023Q4 enlc Onerous Contract Obligation Current
OnerousContractObligationCurrent
28200000 usd
CY2024Q1 enlc Finance Lease And Operating Lease Liability Current
FinanceLeaseAndOperatingLeaseLiabilityCurrent
21000000.0 usd
CY2023Q4 enlc Finance Lease And Operating Lease Liability Current
FinanceLeaseAndOperatingLeaseLiabilityCurrent
21500000 usd
CY2024Q1 enlc Accrued Stock Repurchases Current
AccruedStockRepurchasesCurrent
23100000 usd
CY2023Q4 enlc Accrued Stock Repurchases Current
AccruedStockRepurchasesCurrent
41500000 usd
CY2024Q1 enlc Accrued Suspense Producer Payments
AccruedSuspenseProducerPayments
26400000 usd
CY2023Q4 enlc Accrued Suspense Producer Payments
AccruedSuspenseProducerPayments
2800000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
247900000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
278500000 usd
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

Files In Submission

Name View Source Status
0001592000-24-000007-index-headers.html Edgar Link pending
0001592000-24-000007-index.html Edgar Link pending
0001592000-24-000007.txt Edgar Link pending
0001592000-24-000007-xbrl.zip Edgar Link pending
enlc-20240331.htm Edgar Link pending
enlc-20240331.xsd Edgar Link pending
enlcq12024ex102.htm Edgar Link pending
enlcq12024ex103.htm Edgar Link pending
enlcq12024ex104.htm Edgar Link pending
enlcq12024ex311.htm Edgar Link pending
enlcq12024ex312.htm Edgar Link pending
enlcq12024ex321.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_0.jpg Edgar Link pending
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MetaLinks.json Edgar Link pending
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enlc-20240331_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
enlc-20240331_cal.xml Edgar Link unprocessable
enlc-20240331_def.xml Edgar Link unprocessable
enlc-20240331_lab.xml Edgar Link unprocessable
enlc-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable