Western Midstream Operating, LP (WES) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues	3,250.8	2,697.1	2,547.6	2,745.4	2,305.4	2,429.6	1,804.3	1,752.1
Revenue growth	20.5%	5.9%	-7.2%	19.1%	-5.1%	34.7%	3.0%	14.3%
Cost of goods sold [+]	654.6	581.3	580.9	641.2	480.9	345.6	802.2	332.0
Maintenance and operations costs							308.0
Gross profit	2,596.2	2,115.8	1,966.7	2,104.2	1,824.5	2,084.0	1,002.1	1,420.1
Gross margin	79.9%	78.4%	77.2%	76.6%	79.1%	85.8%	55.5%	81.1%
Selling, general and administrative [+]	272.6	259.8	224.1	175.9	119.0	107.1	85.7	74.6
General and administrative [+]	272.6	259.8	224.1	175.9	119.0	107.1	85.7	74.6
General and administrative expenses	194.0	195.5	155.8	114.6	67.2	53.9	45.6	41.3
Operating taxes	78.6	64.3	68.3	61.4	51.8	53.1	40.1	33.3
Other selling, general and administrative
Equity in earnings	183.5	204.6	226.8	237.5	195.5	115.1	78.7	71.3
Other operating expenses	132.8	-62.4	-272.3	207.3	224.5	646.5	-96.6	400.1
EBITDA [+]	2,374.3	2,123.1	2,241.7	1,958.4	1,676.5	1,445.5	1,091.7	1,016.7
EBITDA growth	11.8%	-5.3%	14.5%	16.8%	16.0%	32.4%	7.4%	22.6%
EBITDA margin	73.0%	78.7%	88.0%	71.3%	72.7%	59.5%	60.5%	58.0%
Depreciation	550.7	519.9	458.1	451.3	358.4	288.1	244.5	244.4
EBITA	1,823.7	1,603.2	1,783.6	1,507.1	1,318.1	1,157.5	847.1	772.2
EBITA margin	56.1%	59.4%	70.0%	54.9%	57.2%	47.6%	47.0%	44.1%
Amortization of intangibles	31.7	31.7	33.0	32.0	30.8	30.7	28.4	28.2
EBIT [+]	1,792.0	1,571.5	1,750.6	1,475.1	1,287.3	1,126.8	818.7	744.0
EBIT growth	14.0%	-10.2%	18.7%	14.6%	14.2%	37.6%	10.0%	20.5%
EBIT margin	55.1%	58.3%	68.7%	53.7%	55.8%	46.4%	45.4%	42.5%
Non-recurring items [+]	20.6	30.5	644.9	6.3	230.6	209.9	31.8	515.5
Asset impairment	20.6	30.5	644.9	6.3	230.6	180.1	15.5	515.5
Unusual expense						29.9	16.3
Interest expense	333.9	376.5	380.1	303.3	183.8	142.5	114.9	113.9
Interest expense	333.9	376.5	380.1	303.3	183.8	142.5	114.9	113.9
Other income (expense), net [+]	-181.8	-230.2	-202.8	-344.4	-183.3	-96.9	-61.3	-55.0
Gain (loss) on debt retirement	0.1	-24.9	11.2
Other	1.6	-0.6	1.0	-123.8	-4.8	1.4	0.5	-0.6
Pre-tax income	1,255.6	934.2	522.9	821.2	689.6	677.5	610.7	59.7
Income taxes	4.2	-9.8	6.0	13.5	58.9	-59.9	8.4	45.5
Tax rate	0.3%		1.1%	1.6%	8.5%		1.4%	76.2%
Minority interest	34.4	27.7	-10.2	110.5	79.1	196.6	11.0	10.1
Net income	1,189.6	896.5	515.9	662.3	369.4	376.6	591.3	4.1
Net margin	36.6%	33.2%	20.3%	24.1%	16.0%	15.5%	32.8%	0.2%

Basic EPS [+]	$3.01	$2.18	$1.18	$1.59			$1.74	$1,702.43
Growth	38.2%	84.0%	-25.6%				-99.9%	79826.2%
Diluted EPS [+]	$3.00	$2.18	$1.18	$1.59			$1.74	$0.16
Growth	38.0%	83.7%	-25.7%				982.5%	-92.4%

Dividends per share [+]	$1.86	$1.30	$1.60	$2.33			$1.98	$226,026.98
Growth	43.6%	-18.8%	-31.5%				-100.0%	11495022.4%

Shares outstanding (basic) [+]	395.0	411.3	435.6	415.8			339.8	0.0
Growth	-4.0%	-5.6%	4.8%				14090557.0%	-100.0%
Shares outstanding (diluted) [+]	396.2	412.0	435.6	415.8			339.8	25.5
Growth	-3.8%	-5.4%	4.8%				1230.4%	-87.8%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.