2013 Q4 Form 10-Q Financial Statement

#000142390213000006 Filed on November 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $334.8M $273.5M $234.7M
YoY Change 45.0% 16.52%
Cost Of Revenue $103.1M $93.50M $89.10M
YoY Change 26.66% 4.94%
Gross Profit $231.7M $180.0M $145.6M
YoY Change 54.98% 23.63%
Gross Profit Margin 69.21% 65.81% 62.03%
Selling, General & Admin $95.80M $57.40M $55.90M
YoY Change -9.28% 2.68%
% of Gross Profit 41.35% 31.89% 38.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.20M $37.70M $28.50M
YoY Change 15.82% 32.28% -63.65%
% of Gross Profit 18.64% 20.94% 19.57%
Operating Expenses $139.1M $95.00M $84.30M
YoY Change -2.66% 12.69%
Operating Profit $92.60M $89.52M $61.31M
YoY Change 1303.03% 46.01%
Interest Expense $2.100M $13.02M $10.98M
YoY Change -131.82% 18.59%
% of Operating Profit 2.27% 14.54% 17.9%
Other Income/Expense, Net -$900.0K $466.0K $522.0K
YoY Change 80.0% -10.73%
Pretax Income $92.50M $81.20M $55.08M
YoY Change -15516.67% 47.41%
Income Tax $400.0K -$27.00K $14.17M
% Of Pretax Income 0.43% -0.03% 25.72%
Net Earnings $52.50M $44.44M $19.31M
YoY Change 720.31% 130.15%
Net Earnings / Revenue 15.68% 16.25% 8.23%
Basic Earnings Per Share
Diluted Earnings Per Share $239.8K $202.8K
COMMON SHARES
Basic Shares Outstanding 218.9M shares 218.9M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $113.0M $57.00M $47.00M
YoY Change -73.29% 21.28%
Cash & Equivalents $113.1M $57.08M $47.49M
Short-Term Investments
Other Short-Term Assets $10.80M $8.912M $9.000M
YoY Change 54.32% -0.98%
Inventory $3.000M $2.000M
Prepaid Expenses
Receivables $83.94M $75.70M $21.00M
Other Receivables $4.000M $2.000M $0.00
Total Short-Term Assets $207.8M $141.7M $78.00M
YoY Change -56.53% 81.65%
LONG-TERM ASSETS
Property, Plant & Equipment $3.383B $3.244B $2.343B
YoY Change 24.48% 38.45%
Goodwill $105.3M $105.3M
YoY Change 0.0%
Intangibles $53.61M $54.44M
YoY Change -3.4%
Long-Term Investments $593.4M $227.6M $106.0M
YoY Change 170.01% 114.68%
Other Assets $27.40M $28.08M $27.00M
YoY Change -1.43% 3.99%
Total Long-Term Assets $4.423B $3.919B $2.876B
YoY Change 30.61% 36.28%
TOTAL ASSETS
Total Short-Term Assets $207.8M $141.7M $78.00M
Total Long-Term Assets $4.423B $3.919B $2.876B
Total Assets $4.631B $4.061B $2.954B
YoY Change 19.83% 37.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.00M $19.00M $86.00M
YoY Change 60.0% -77.91%
Accrued Expenses $138.0M $140.3M $124.0M
YoY Change -7.11% 13.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $191.5M $178.1M $275.0M
YoY Change 2.81% -35.23%
LONG-TERM LIABILITIES
Long-Term Debt $1.418B $1.518B $1.010B
YoY Change 21.39% 50.31%
Other Long-Term Liabilities $79.00M $76.00M $81.00M
YoY Change 14.49% -6.17%
Total Long-Term Liabilities $1.535B $1.596B $1.091B
YoY Change 19.56% 46.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $191.5M $178.1M $275.0M
Total Long-Term Liabilities $1.535B $1.596B $1.091B
Total Liabilities $1.727B $1.774B $2.845B
YoY Change 17.43% -37.63%
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 $1.217B $825.0M $109.0M
YoY Change
Total Liabilities & Shareholders Equity $4.631B $4.061B $2.954B
YoY Change 19.83% 37.47%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $52.50M $44.44M $19.31M
YoY Change 720.31% 130.15%
Depreciation, Depletion And Amortization $43.20M $37.70M $28.50M
YoY Change 15.82% 32.28% -63.65%
Cash From Operating Activities $174.9M $133.6M $136.8M
YoY Change -4365.85% -2.34% -32.11%
INVESTING ACTIVITIES
Capital Expenditures -$212.3M -$129.9M -$210.8M
YoY Change -9.35% -38.38% 168.19%
Acquisitions
YoY Change
Other Investing Activities -$44.10M -$119.5M -$139.8M
YoY Change -61.35% -14.52% -57.21%
Cash From Investing Activities -$256.5M -$249.3M -$350.8M
YoY Change -26.34% -28.93% -13.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 137.6M 80.50M 3.500M
YoY Change -81.08% 2200.0% -99.18%
NET CHANGE
Cash From Operating Activities 174.9M 133.6M 136.8M
Cash From Investing Activities -256.5M -249.3M -350.8M
Cash From Financing Activities 137.6M 80.50M 3.500M
Net Change In Cash 56.00M -35.20M -210.5M
YoY Change -85.07% -83.28% -193.81%
FREE CASH FLOW
Cash From Operating Activities $174.9M $133.6M $136.8M
Capital Expenditures -$212.3M -$129.9M -$210.8M
Free Cash Flow $387.2M $263.5M $347.6M
YoY Change 68.27% -24.19% 24.1%

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ProceedsFromIssuanceOfLongTermDebt
885291000 USD
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
57190000 USD
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
4508000 USD
us-gaap Profit Loss
ProfitLoss
126293000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
81117000 USD
us-gaap Profit Loss
ProfitLoss
193926000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
40916000 USD
CY2013Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4061389000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3432392000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3243900000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2717956000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
495000000 USD
CY2012Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
552000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
549000000 USD
us-gaap Revenues
Revenues
762874000 USD
CY2012Q3 us-gaap Revenues
Revenues
234734000 USD
CY2013Q3 us-gaap Revenues
Revenues
278001000 USD
us-gaap Revenues
Revenues
679720000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2769000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2783000 USD
CY2013Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
6649000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
18520000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
14998000 USD
CY2012Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
5328000 USD
CY2013Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
190000 USD
wgp Contributions Of Equity Based Compensation From Parent
ContributionsOfEquityBasedCompensationFromParent
2151000 USD
CY2013Q3 wgp Gas Imbalance Receivable Current
GasImbalanceReceivableCurrent
2729000 USD
CY2012Q4 wgp Gas Imbalance Receivable Current
GasImbalanceReceivableCurrent
1663000 USD
CY2012Q3 wgp Interest Income Affiliates
InterestIncomeAffiliates
4225000 USD
CY2013Q3 wgp Interest Income Affiliates
InterestIncomeAffiliates
4225000 USD
wgp Interest Income Affiliates
InterestIncomeAffiliates
12675000 USD
wgp Interest Income Affiliates
InterestIncomeAffiliates
12675000 USD
wgp Minority Interest And Paid In Capital Increase From Stock Issuance
MinorityInterestAndPaidInCapitalIncreaseFromStockIssuance
418517000 USD
wgp Number Of Days Subsequent To Quarter End That Cash Is Required To Be Distributed
NumberOfDaysSubsequentToQuarterEndThatCashIsRequiredToBeDistributed
P55D
wgp Partners Capital Account Distributions Prior To Acquisition
PartnersCapitalAccountDistributionsPriorToAcquisition
-4508000 USD
CY2013Q3 wgp Preacquisition Net Income Allocated
PreacquisitionNetIncomeAllocated
0 USD
wgp Preacquisition Net Income Allocated
PreacquisitionNetIncomeAllocated
4637000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001423902
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
218895515 shares
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
WESTERN GAS EQUITY PARTNERS, LP

Files In Submission

Name View Source Status
0001423902-13-000006-index-headers.html Edgar Link pending
0001423902-13-000006-index.html Edgar Link pending
0001423902-13-000006.txt Edgar Link pending
0001423902-13-000006-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
wgp-20130930.xml Edgar Link completed
wgp-20130930.xsd Edgar Link pending
wgp-20130930_cal.xml Edgar Link unprocessable
wgp-20130930_def.xml Edgar Link unprocessable
wgp-20130930_lab.xml Edgar Link unprocessable
wgp-20130930_pre.xml Edgar Link unprocessable
wgp09301310q.htm Edgar Link pending
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wgp093013ex321.htm Edgar Link pending