2023 Q3 Form 10-Q Financial Statement

#000150446123000045 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $1.841B $1.616B $2.497B
YoY Change -8.38% -35.29% 67.76%
Cost Of Revenue $1.578B $1.379B $2.255B
YoY Change -10.52% -38.83% 70.22%
Gross Profit $262.6M $236.8M $242.4M
YoY Change 7.06% -2.31% 47.91%
Gross Profit Margin 14.27% 14.65% 9.71%
Selling, General & Admin $17.50M $20.29M $16.76M
YoY Change 5.24% 21.09% 6.23%
% of Gross Profit 6.66% 8.57% 6.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $69.79M $73.21M $70.97M
YoY Change -3.66% 3.16% -19.34%
% of Gross Profit 26.57% 30.92% 29.28%
Operating Expenses $162.0M $167.4M $156.4M
YoY Change -4.76% 6.98% -5.95%
Operating Profit $86.03M $72.02M $85.93M
YoY Change 25.1% -16.19% -223.94%
Interest Expense $58.63M $59.52M -$65.47M
YoY Change -14.16% -190.91% -197.53%
% of Operating Profit 68.15% 82.65% -76.19%
Other Income/Expense, Net $310.0K $306.0K $646.0K
YoY Change -2166.67% -52.63% -48.28%
Pretax Income $28.60M $19.70M $22.93M
YoY Change 590.15% -14.09% -116.99%
Income Tax $342.0K $140.0K -$172.0K
% Of Pretax Income 1.2% 0.71% -0.75%
Net Earnings $28.03M $19.30M $22.86M
YoY Change 698.52% -15.57% -116.94%
Net Earnings / Revenue 1.52% 1.19% 0.92%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.05 -$0.11 $174.9K
COMMON SHARES
Basic Shares Outstanding 131.9M shares 131.9M shares 130.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.700M $7.786M $816.0K
YoY Change -40.53% 854.17% -66.98%
Cash & Equivalents $2.680M $7.786M $816.0K
Short-Term Investments
Other Short-Term Assets $137.6M $84.34M $133.1M
YoY Change -10.22% -36.65% 25.11%
Inventory $250.6M $185.6M $301.3M
Prepaid Expenses
Receivables $1.158B $892.3M $1.305B
Other Receivables $15.00M $12.84M $9.238M
Total Short-Term Assets $1.564B $1.183B $1.749B
YoY Change -4.83% -32.38% 44.82%
LONG-TERM ASSETS
Property, Plant & Equipment $2.166B $2.197B $2.563B
YoY Change -11.47% -14.28% 0.56%
Goodwill $707.6M $712.4M
YoY Change -4.95%
Intangibles $1.017B $1.039B
YoY Change -7.24%
Long-Term Investments $20.90M $20.05M $22.57M
YoY Change -3.05% -11.17% 5.35%
Other Assets $57.70M $57.43M $41.31M
YoY Change -10.97% 39.01% -24.5%
Total Long-Term Assets $4.064B $4.123B $4.488B
YoY Change -9.1% -8.14% -4.5%
TOTAL ASSETS
Total Short-Term Assets $1.564B $1.183B $1.749B
Total Long-Term Assets $4.064B $4.123B $4.488B
Total Assets $5.628B $5.306B $6.238B
YoY Change -7.95% -14.94% 5.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.081B $773.7M $1.150B
YoY Change 8.75% -32.74% 50.72%
Accrued Expenses $164.1M $159.4M $150.7M
YoY Change 9.03% 5.81% -8.48%
Deferred Revenue $28.88M $18.77M
YoY Change 14.29%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K $2.430M
YoY Change -95.97% -95.88% 8.97%
Total Short-Term Liabilities $1.307B $986.9M $1.392B
YoY Change 8.26% -29.12% 37.85%
LONG-TERM LIABILITIES
Long-Term Debt $2.782B $2.804B $3.385B
YoY Change -19.32% -17.16% 0.41%
Other Long-Term Liabilities $107.9M $112.0M $172.5M
YoY Change 3.66% -35.08% 49.41%
Total Long-Term Liabilities $107.9M $112.0M $3.557B
YoY Change 3.66% -96.85% 2981.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.307B $986.9M $1.392B
Total Long-Term Liabilities $107.9M $112.0M $3.557B
Total Liabilities $1.415B $1.099B $4.966B
YoY Change 7.9% -77.87% 341.24%
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 $1.350B $1.322B $1.271B
YoY Change
Total Liabilities & Shareholders Equity $5.628B $5.306B $6.238B
YoY Change -7.95% -14.94% 5.59%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $28.03M $19.30M $22.86M
YoY Change 698.52% -15.57% -116.94%
Depreciation, Depletion And Amortization $69.79M $73.21M $70.97M
YoY Change -3.66% 3.16% -19.34%
Cash From Operating Activities $76.00M $55.11M $2.486M
YoY Change -322.5% 2116.85% -148.15%
INVESTING ACTIVITIES
Capital Expenditures $44.60M $35.80M -$41.01M
YoY Change -184.22% -187.31% -12.31%
Acquisitions
YoY Change
Other Investing Activities -$10.70M $34.36M $4.584M
YoY Change -137.01% 649.56% 17.99%
Cash From Investing Activities -$55.40M -$1.441M -$36.42M
YoY Change 130.37% -96.04% -15.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.80M -$51.32M 30.93M
YoY Change -141.66% -265.91% -32.29%
NET CHANGE
Cash From Operating Activities 76.00M $55.11M 2.486M
Cash From Investing Activities -55.40M -$1.441M -36.42M
Cash From Financing Activities -25.80M -$51.32M 30.93M
Net Change In Cash -5.200M $2.355M -3.006M
YoY Change -239.63% -178.34% 27.48%
FREE CASH FLOW
Cash From Operating Activities $76.00M $55.11M $2.486M
Capital Expenditures $44.60M $35.80M -$41.01M
Free Cash Flow $31.40M $19.31M $43.49M
YoY Change 67.03% -55.6% 4.56%

Facts In Submission

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CY2023Q2 us-gaap Nature Of Operations
NatureOfOperations
Organization and Operations<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NGL Energy Partners LP (“we,” “us,” “our,” or the “Partnership”) is a Delaware limited partnership. NGL Energy Holdings LLC serves as our general partner (“GP”). At June 30, 2023, our operations included three segments:</span></div><div><span><br/></span></div><div style="margin-bottom:6pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Our Water Solutions segment transports, treats, recycles and disposes of produced and flowback water generated from crude oil and natural gas production. We also sell produced water for reuse and recycle and brackish non-potable water to our producer customers to be used in their crude oil exploration and production activities. As part of processing water, we aggregate and sell recovered crude oil, also known as skim oil. We also dispose of solids such as tank bottoms, drilling fluids and drilling muds and perform other ancillary services such as truck and frac tank washouts. Our activities in this segment are underpinned by long-term, fixed fee contracts and acreage dedications, some of which contain minimum volume commitments with leading oil and gas companies including large, investment grade producer customers.</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Our Crude Oil Logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs, and provides storage, terminaling, and transportation services through its owned assets. Our activities in this segment are supported by certain long-term, fixed rate contracts which include minimum volume commitments on our owned and leased pipelines.</span></div>•Our Liquids Logistics segment conducts supply operations for natural gas liquids, refined petroleum products and biodiesel to a broad range of commercial, retail and industrial customers across the United States and Canada. These operations are conducted through our 25 owned terminals, third-party storage and terminal facilities, nine common carrier pipelines and a fleet of leased railcars. We also provide services for marine exports of butane through our facility located in Chesapeake, Virginia and we also own a propane pipeline in Michigan.
CY2023Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2023Q2 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amount of assets and liabilities reported at the date of the consolidated financial statements and the amount of revenues and expenses reported during the periods presented.</span></div>Critical accounting estimates we make in the preparation of our unaudited condensed consolidated financial statements include, among others, determining the impairment of goodwill and long-lived assets, useful lives and recoverability of property, plant and equipment and amortizable intangible assets, the fair value of derivative instruments, estimating certain revenues, the fair value of asset retirement obligations, the fair value of assets and liabilities acquired in acquisitions, the recoverability of inventories, the collectability of accounts and notes receivable and accruals for environmental matters. Although we believe these estimates are reasonable, actual results could differ from those estimates.
CY2023Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
40500000 usd
CY2023Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
40700000 usd
CY2023Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
100000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
CY2022Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
700000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.241
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023Q2 us-gaap Energy Related Inventory Propane Gas
EnergyRelatedInventoryPropaneGas
64308000 usd
CY2023Q1 us-gaap Energy Related Inventory Propane Gas
EnergyRelatedInventoryPropaneGas
46910000 usd
CY2023Q2 us-gaap Energy Related Inventory Petroleum
EnergyRelatedInventoryPetroleum
47114000 usd
CY2023Q1 us-gaap Energy Related Inventory Petroleum
EnergyRelatedInventoryPetroleum
49586000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
185638000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
142607000 usd
CY2023Q2 us-gaap Equity Method Investments
EquityMethodInvestments
20049000 usd
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
21090000 usd
CY2023Q2 ngl Other Assets Linefill Noncurrent
OtherAssetsLinefillNoncurrent
37861000 usd
CY2023Q1 ngl Other Assets Linefill Noncurrent
OtherAssetsLinefillNoncurrent
37861000 usd
CY2023Q2 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
10308000 usd
CY2023Q1 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
8592000 usd
CY2023Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
5700000 usd
CY2023Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
6896000 usd
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
57429000 usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
57977000 usd
CY2023Q2 us-gaap Amount Of Deferred Costs Related To Long Term Contracts
AmountOfDeferredCostsRelatedToLongTermContracts
7800000 usd
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
77736000 usd
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
49362000 usd
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14673000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
27013000 usd
CY2023Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
12897000 usd
CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
11777000 usd
CY2023Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
12874000 usd
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
14752000 usd
CY2023Q2 ngl Product Exchange Liabilities Current
ProductExchangeLiabilitiesCurrent
7515000 usd
CY2023Q1 ngl Product Exchange Liabilities Current
ProductExchangeLiabilitiesCurrent
4047000 usd
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
33713000 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
26665000 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
159408000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
133616000 usd
CY2023Q2 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have reclassified certain prior period financial statement information to be consistent with the classification methods used in the current fiscal year. These reclassifications did not impact previously reported amounts of assets, liabilities, equity, net income or cash flows.</span></div>
CY2023Q2 us-gaap Profit Loss
ProfitLoss
19563000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
23106000 usd
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
262000 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
245000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
19301000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
22861000 usd
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
33797000 usd
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
27545000 usd
CY2023Q2 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
14000 usd
CY2022Q2 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
5000 usd
CY2023Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-14482000 usd
CY2022Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-4679000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3118145000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3121564000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
921300000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
898184000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2196845000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2223380000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
100000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
49644000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
47051000 usd
CY2023Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
302000 usd
CY2022Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
249000 usd
CY2023Q2 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
11316000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1639133000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
600613000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1038520000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1639273000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
580860000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1058413000 usd
CY2023Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1639388000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
600613000 usd
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1038775000 usd
CY2023Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1639528000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
580860000 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1058668000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20876000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20902000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
56343000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
68838000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
65626000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
60128000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
57275000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
55324000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
674986000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1038520000 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2830647000 usd
CY2023Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
27040000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
2803607000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2887922000 usd
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
30117000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
2857805000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
280745000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2230000000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
319902000 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2830647000 usd
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2700000 usd
CY2022Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3000000 usd
CY2023Q2 ngl Future Amortization Of Debt Issuance Costs Remainder Of Fiscal Year
FutureAmortizationOfDebtIssuanceCostsRemainderOfFiscalYear
7967000 usd
CY2023Q2 ngl Future Amortization Of Debt Issuance Costs Year One
FutureAmortizationOfDebtIssuanceCostsYearOne
10570000 usd
CY2023Q2 ngl Future Amortizationof Debt Issuance Costs Year Two
FutureAmortizationofDebtIssuanceCostsYearTwo
8471000 usd
CY2023Q2 ngl Future Amortizationof Debt Issuance Costs Year Three
FutureAmortizationofDebtIssuanceCostsYearThree
32000 usd
CY2023Q2 ngl Future Amortizationof Debt Issuance Costs
FutureAmortizationofDebtIssuanceCosts
27040000 usd
CY2023Q1 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
36000000 usd
ngl Loss Contingency Statutory Interest And Costs Awarded Value
LossContingencyStatutoryInterestAndCostsAwardedValue
21000000 usd
CY2023Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
4000000 usd
CY2023Q2 ngl Loss Contingency Interest Accrual
LossContingencyInterestAccrual
1500000 usd
CY2023Q2 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
8400000 usd
CY2023Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
1400000 usd
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
35163000 usd
CY2023Q2 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
761000 usd
CY2023Q2 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
202000 usd
CY2023Q2 us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
218000 usd
CY2023Q2 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
956000 usd
CY2023Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
36460000 usd
CY2023Q2 ngl Number Of Saltwater Disposal Wells Sold
NumberOfSaltwaterDisposalWellsSold
3
CY2023Q2 us-gaap Other Commitments Future Minimum Payments Remainder Of Fiscal Year
OtherCommitmentsFutureMinimumPaymentsRemainderOfFiscalYear
12895000 usd
CY2023Q2 us-gaap Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
3712000 usd
CY2023Q2 us-gaap Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
1374000 usd
CY2023Q2 us-gaap Other Commitment Due In Third Year
OtherCommitmentDueInThirdYear
1365000 usd
CY2023Q2 us-gaap Other Commitment Due In Fourth Year
OtherCommitmentDueInFourthYear
1319000 usd
CY2023Q2 us-gaap Other Commitment Due In Fifth Year
OtherCommitmentDueInFifthYear
1252000 usd
CY2023Q2 us-gaap Other Commitment Due After Fifth Year
OtherCommitmentDueAfterFifthYear
3273000 usd
CY2023Q2 us-gaap Other Commitment
OtherCommitment
25190000 usd
us-gaap Preferred Stock Amount Of Preferred Dividends In Arrears
PreferredStockAmountOfPreferredDividendsInArrears
286400000 usd
CY2023Q2 us-gaap Price Risk Derivatives At Fair Value Net
PriceRiskDerivativesAtFairValueNet
66716000 usd
CY2023Q2 ngl Derivative Collateral Obligation To Return Cash Or Right To Reclaim Cash
DerivativeCollateralObligationToReturnCashOrRightToReclaimCash
46665000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
20051000 usd
CY2023Q1 us-gaap Price Risk Derivatives At Fair Value Net
PriceRiskDerivativesAtFairValueNet
66811000 usd
CY2023Q1 ngl Derivative Collateral Obligation To Return Cash Or Right To Reclaim Cash
DerivativeCollateralObligationToReturnCashOrRightToReclaimCash
47800000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
19011000 usd
CY2023Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
12900000 usd
CY2022Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-41100000 usd
CY2023Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2023Q2 us-gaap Revenues
Revenues
1616104000 usd
CY2022Q2 us-gaap Revenues
Revenues
2497383000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
73210000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
70968000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
72020000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
87263000 usd
CY2023Q2 ngl Acquisition Of Property Plant And Equipment And Intangible Assets
AcquisitionOfPropertyPlantAndEquipmentAndIntangibleAssets
44092000 usd
CY2022Q2 ngl Acquisition Of Property Plant And Equipment And Intangible Assets
AcquisitionOfPropertyPlantAndEquipmentAndIntangibleAssets
46721000 usd
CY2023Q2 us-gaap Noncurrent Assets
NoncurrentAssets
4045311000 usd
CY2023Q1 us-gaap Noncurrent Assets
NoncurrentAssets
4084632000 usd
CY2023Q2 us-gaap Assets
Assets
5305654000 usd
CY2023Q1 us-gaap Assets
Assets
5456144000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
88981000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
92003000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
26893000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
10630000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1271000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
457000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
346000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
220581000 usd
CY2023Q2 us-gaap Contract With Customer Receivable Before Allowance For Credit Loss
ContractWithCustomerReceivableBeforeAllowanceForCreditLoss
353891000 usd
CY2023Q1 us-gaap Contract With Customer Receivable Before Allowance For Credit Loss
ContractWithCustomerReceivableBeforeAllowanceForCreditLoss
425760000 usd
CY2023Q2 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
0 usd
CY2023Q1 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
10050000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14520000 usd
CY2023Q2 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
8396000 usd
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4146000 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
18770000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
12112000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
13678000 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
7726000 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
7028000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
40000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
94000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1000 usd
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0 usd
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000 usd
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
19882000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
20800000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
32999000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
21000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
30970000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
28000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
18204000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
28000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12188000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
28000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9711000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
10000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4908000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
21855000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
130835000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
115000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
31135000 usd
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
27000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
99700000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
88000 usd
CY2023Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
100000 usd
CY2023Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
100000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
12135000 usd
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
13031000 usd
CY2023Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000 usd
CY2022Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0 usd
CY2023Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4000 usd
CY2022Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 usd
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
17337000 usd
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5920000 usd
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
4400000 usd
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
1100000 usd
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
3500000 usd
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
200000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
9686000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
9398000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
9369000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
8049000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
5040000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
745000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
42287000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1964000 usd
CY2023Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
48000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
43000 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesHeldToMaturityAllowanceForCreditLossPeriodIncreaseDecrease
34000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
33000 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Writeoff
DebtSecuritiesHeldToMaturityAllowanceForCreditLossWriteoff
0 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1888000 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
82000 usd
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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