2024 Q3 Form 10-Q Financial Statement

#000169278724000052 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $396.4M
YoY Change 20.0%
Cost Of Revenue $150.5M
YoY Change -1.9%
Gross Profit $245.9M
YoY Change 38.99%
Gross Profit Margin 62.03%
Selling, General & Admin $29.62M
YoY Change 29.91%
% of Gross Profit 12.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $87.58M
YoY Change 25.23%
% of Gross Profit 35.62%
Operating Expenses $173.0M
YoY Change
Operating Profit $72.87M
YoY Change 89.78%
Interest Expense -$66.03M
YoY Change 46.7%
% of Operating Profit -90.61%
Other Income/Expense, Net $19.04M
YoY Change 215.55%
Pretax Income $91.91M
YoY Change 106.86%
Income Tax $8.260M
% Of Pretax Income 8.99%
Net Earnings $265.7M
YoY Change 23.39%
Net Earnings / Revenue 67.03%
Basic Earnings Per Share $0.35
Diluted Earnings Per Share $0.35
COMMON SHARES
Basic Shares Outstanding 59.81M shares
Diluted Shares Outstanding 60.42M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.44M
YoY Change 20338.0%
Cash & Equivalents $20.44M
Short-Term Investments
Other Short-Term Assets $49.83M
YoY Change 2.31%
Inventory
Prepaid Expenses
Receivables $65.62M
Other Receivables $0.00
Total Short-Term Assets $285.9M
YoY Change -0.9%
LONG-TERM ASSETS
Property, Plant & Equipment $3.227B
YoY Change 18.62%
Goodwill $5.100M
YoY Change 0.45%
Intangibles $878.1M
YoY Change 41.46%
Long-Term Investments $2.140B
YoY Change -15.08%
Other Assets $284.4M
YoY Change 249.0%
Total Long-Term Assets $6.575B
YoY Change 9.62%
TOTAL ASSETS
Total Short-Term Assets $285.9M
Total Long-Term Assets $6.575B
Total Assets $6.860B
YoY Change 9.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.16M
YoY Change -2.63%
Accrued Expenses $191.8M
YoY Change 1.98%
Deferred Revenue $6.195M
YoY Change 6.68%
Short-Term Debt $150.0M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $398.7M
YoY Change 58.78%
LONG-TERM LIABILITIES
Long-Term Debt $3.280B
YoY Change -9.07%
Other Long-Term Liabilities $67.52M
YoY Change 1963.48%
Total Long-Term Liabilities $3.399B
YoY Change -7.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $398.7M
Total Long-Term Liabilities $3.399B
Total Liabilities $3.798B
YoY Change -3.0%
SHAREHOLDERS EQUITY
Retained Earnings -$1.721B
YoY Change 85.07%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.721B
YoY Change
Total Liabilities & Shareholders Equity $6.860B
YoY Change 9.14%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $265.7M
YoY Change 23.39%
Depreciation, Depletion And Amortization $87.58M
YoY Change 25.23%
Cash From Operating Activities $214.1M
YoY Change 22.64%
INVESTING ACTIVITIES
Capital Expenditures $63.43M
YoY Change -26.93%
Acquisitions
YoY Change
Other Investing Activities -$45.79M
YoY Change -4.42%
Cash From Investing Activities -$109.2M
YoY Change -18.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -97.03M
YoY Change 131.03%
NET CHANGE
Cash From Operating Activities 214.1M
Cash From Investing Activities -109.2M
Cash From Financing Activities -97.03M
Net Change In Cash 7.889M
YoY Change -475.67%
FREE CASH FLOW
Cash From Operating Activities $214.1M
Capital Expenditures $63.43M
Free Cash Flow $150.7M
YoY Change 71.65%

Facts In Submission

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KINETIK HOLDINGS INC.
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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57891000 usd
CY2023Q3 us-gaap Noncontrolling Interest In Net Income Loss Limited Partnerships Redeemable
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us-gaap Net Income Loss Available To Common Stockholders Basic
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EarningsPerShareDiluted
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EarningsPerShareDiluted
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CY2024Q3 apa Accounts Receivable Pledged As Collateral
AccountsReceivablePledgedAsCollateral
150000000 usd
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25483000 usd
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CY2024Q3 us-gaap Long Term Debt And Capital Lease Obligations
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CY2023Q4 us-gaap Other Liabilities Noncurrent
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CY2024Q3 us-gaap Liabilities
Liabilities
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Liabilities
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CY2024Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2023Q4 us-gaap Commitments And Contingencies
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CY2024Q3 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
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CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
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CY2023Q4 apa Deferred Consideration
DeferredConsideration
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CY2023Q4 us-gaap Additional Paid In Capital
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CY2023Q4 us-gaap Stockholders Equity
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Amortization Of Financing Costs
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us-gaap Capitalized Contract Cost Amortization
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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apa Proceeds From Contributions From Unconsolidated Affiliates
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apa Proceeds From Contributions From Unconsolidated Affiliates
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apa Derivative Cash Settlement
DerivativeCashSettlement
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DerivativeCashSettlement
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us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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us-gaap Equity Method Investment Realized Gain Loss On Disposal
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us-gaap Equity Method Investment Realized Gain Loss On Disposal
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Share Based Compensation
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apa Accounts Receivable Including Pledged Receivable
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apa Accounts Receivable Including Pledged Receivable
AccountsReceivableIncludingPledgedReceivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4815000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Intangible Assets
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apa Equity Method Investment Contributions
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apa Equity Method Investment Contributions
EquityMethodInvestmentContributions
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us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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us-gaap Proceeds From Sale Of Equity Method Investments
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us-gaap Proceeds From Sale Of Equity Method Investments
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us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
334000 usd
us-gaap Proceeds From Sale Of Productive Assets
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apa Net Cash Paid For Acquired In Acquisitions
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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apa Repayments Of Term Loan Credit
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200000000 usd
apa Repayments Of Term Loan Credit
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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apa Payment Of Debt Discount
PaymentOfDebtDiscount
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apa Payment Of Debt Discount
PaymentOfDebtDiscount
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
438000000 usd
apa Temporary Equity Distributions Made To Limited Partners
TemporaryEquityDistributionsMadeToLimitedPartners
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apa Temporary Equity Distributions Made To Limited Partners
TemporaryEquityDistributionsMadeToLimitedPartners
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6394000 usd
us-gaap Income Taxes Paid Net
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
24140000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5189000 usd
us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
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CY2023Q2 us-gaap Stockholders Equity
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CY2023Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2023Q3 us-gaap Treasury Stock Retired Cost Method Amount
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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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12502000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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15580000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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15171000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q3 apa Equity Recognition Of Deferred Tax Asset
EquityRecognitionOfDeferredTaxAsset
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CY2024Q3 us-gaap Dividends Common Stock Cash
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CY2022Q4 us-gaap Stockholders Equity
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us-gaap Stock Redeemed Or Called During Period Value
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us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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us-gaap Treasury Stock Retired Cost Method Amount
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us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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43340000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
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us-gaap Dividends Common Stock Cash
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StockholdersEquity
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us-gaap Stock Issued During Period Value Acquisitions
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us-gaap Stock Redeemed Or Called During Period Value
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us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
52868000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
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apa Equity Recognition Of Deferred Tax Asset
EquityRecognitionOfDeferredTaxAsset
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us-gaap Dividends Common Stock Cash
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CY2024Q3 us-gaap Stockholders Equity
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CY2024Q3 apa Interest In Pipeline Entities
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BusinessAcquisitionsProFormaRevenue
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CY2023Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
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us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
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us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
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CY2024Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2023Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
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us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
228652000 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
123738000 usd
CY2024Q3 us-gaap Goodwill
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CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
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CY2023Q4 us-gaap Contract With Customer Liability
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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apa Contract With Customer Liability Cash Received And Not Recognized As Revenue
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CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
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CY2024Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
21858000 usd
CY2024Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
66200000 usd
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CapitalizedContractCostNet
71200000 usd
CY2023Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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CY2024Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1700000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
759280000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
626223000 usd
CY2024Q3 apa Property Plant And Equipment Gross Excluding Depreciable Assets
PropertyPlantAndEquipmentGrossExcludingDepreciableAssets
2978980000 usd
CY2023Q4 apa Property Plant And Equipment Gross Excluding Depreciable Assets
PropertyPlantAndEquipmentGrossExcludingDepreciableAssets
2645005000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3226884000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2743227000 usd
CY2024Q3 us-gaap Depreciation
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48700000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
135300000 usd
us-gaap Depreciation
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us-gaap Asset Impairment Charges
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us-gaap Asset Impairment Charges
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CY2024Q3 us-gaap Asset Impairment Charges
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CY2023Q3 us-gaap Asset Impairment Charges
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CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
878141000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
591670000 usd
apa Right Of Way Agreements Initial Term
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apa Right Of Way Agreements Renewal Period
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CY2024Q3 apa Right Of Way Agreements Percent Of Original Consideration Paid
RightOfWayAgreementsPercentOfOriginalConsiderationPaid
1.30
CY2024Q3 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
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P8Y8M8D
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
38900000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30600000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
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us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2023Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
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us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2024Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2024Q3 us-gaap Equity Method Investments
EquityMethodInvestments
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CY2023Q4 us-gaap Equity Method Investments
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CY2024Q3 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
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CY2023Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
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CY2024Q3 us-gaap Accumulated Capitalized Interest Costs
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CY2023Q4 us-gaap Accumulated Capitalized Interest Costs
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CY2023Q4 us-gaap Equity Method Investments
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us-gaap Payments To Acquire Equity Method Investments
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apa Proceeds From Equity Method Investment Distribution Including Return Of Capital
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us-gaap Equity Method Investment Sold Carrying Amount
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us-gaap Income Loss From Equity Method Investments
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CY2024Q3 us-gaap Equity Method Investments
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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2800000 usd
CY2024Q3 us-gaap Debt Current
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150000000 usd
CY2023Q4 us-gaap Debt Current
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CY2024Q3 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
27432000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
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