Boardwalk Pipeline Partners LP (BWP) Financial Statements (2024 and earlier)

Company Profile

Business Address 9 GREENWAY PLAZA, SUITE 2800
HOUSTON, TX 77046
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4922 - Natural Gas Transmission (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments488,600335,500215,600607,900505,600375,600
Cash and cash equivalents488,600335,500215,600607,900505,600375,600
Receivables122,100134,200148,400117,500105,900126,500
Inventory, net of allowances, customer advances and progress billings4,0001,80041,60035,50026,90034,800
Inventory4,0001,80041,60035,50026,90034,800
Prepaid expense  23,70027,50019,70016,200
Other current assets36,80023,9008,7004,8005,3007,000
Other undisclosed current assets30,20033,10047,40053,50057,10044,700
Total current assets:681,700528,500485,400846,700720,500604,800
Noncurrent Assets
Property, plant and equipment8,510,1008,544,9008,516,0008,481,9008,481,1008,507,900
Other noncurrent assets505,100512,000568,500574,800577,000511,000
Total noncurrent assets:9,015,2009,056,9009,084,5009,056,7009,058,1009,018,900
TOTAL ASSETS:9,696,9009,585,4009,569,9009,903,4009,778,6009,623,700
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities203,500172,700276,300441,400362,900168,800
Interest and dividends payable41,10038,80041,700
Taxes payable82,60057,20041,000
Employee-related liabilities36,50027,30021,600
Accounts payable80,20075,000141,300121,000116,30064,500
Accrued liabilities123,30097,700135,000160,200123,300 
Deferred revenue      4,000
Debt    299,900299,900300,000
Regulatory liability17,40021,40055,10077,90054,100 
Asset retirement obligation16,50016,900    
Due to related parties2,8002,6004,5004,5004,200
Other liabilities42,10040,10038,70039,60022,80036,500
Other undisclosed current liabilities3,200  (160,200)(123,300)10,400
Total current liabilities:282,700253,900372,700703,100620,900523,900
Noncurrent Liabilities
Long-term debt and lease obligation, including:3,235,2003,234,3003,233,4003,232,6003,231,7003,230,500
Finance lease, liability4,1004,3004,5004,7004,9005,100
Other undisclosed long-term debt and lease obligation3,231,1003,230,0003,228,9003,227,9003,226,8003,225,400
Liabilities, other than long-term debt, including:277,700275,400261,600266,500275,800274,500
Deferred revenue18,90019,50019,40019,10017,40016,400
Asset retirement obligations63,20062,70053,90052,70063,80062,000
Liability, pension and other postretirement and postemployment benefits7,9008,7008,8001,1003,5004,900
Accrued environmental loss contingencies   1,700   
Other liabilities111,000109,100105,700120,200117,600118,300
Other undisclosed liabilities, other than long-term debt76,70075,40072,10073,40073,50072,900
Total noncurrent liabilities:3,512,9003,509,7003,495,0003,499,1003,507,5003,505,000
Total liabilities:3,795,6003,763,6003,867,7004,202,2004,128,4004,028,900
Equity
Equity, attributable to parent(78,100)(78,900)(79,500)(70,800)(71,500)(72,100)
Accumulated other comprehensive loss(78,100)(78,900)(79,500)(70,800)(71,500)(72,100)
Total equity:(78,100)(78,900)(79,500)(70,800)(71,500)(72,100)
Other undisclosed liabilities and equity5,979,4005,900,7005,781,7005,772,0005,721,7005,666,900
TOTAL LIABILITIES AND EQUITY:9,696,9009,585,4009,569,9009,903,4009,778,6009,623,700

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues358,700394,300394,200337,000322,900377,900
Gross profit:358,700394,300394,200337,000322,900377,900
Operating expenses(246,300)(237,800)(245,800)(246,700)(227,500)(212,800)
Operating income:112,400156,500148,40090,30095,400165,100
Nonoperating expense(33,500)(37,200)(36,300)(39,800)(40,400)(39,700)
Investment income, nonoperating4,3001,7002,1001,100100 
Interest and debt expense(39,100)(38,900)(39,800)(41,800)(41,800)(42,500)
Income from continuing operations before equity method investments, income taxes:39,80080,40072,3008,70013,20082,900
Other undisclosed income from continuing operations before income taxes39,10038,90039,80041,80041,80042,500
Income from continuing operations before income taxes:78,900119,300112,10050,50055,000125,400
Income tax expense(200)(300)(200)(200)(200)(200)
Income from continuing operations:78,700119,000111,90050,30054,800125,200
Income before gain (loss) on sale of properties:50,30054,800125,200
Net income available to common stockholders, diluted:78,700119,000111,90050,30054,800125,200

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:78,700119,000111,90050,30054,800125,200
Other comprehensive income (loss)800600(8,700)700600500
Comprehensive income, net of tax, attributable to parent:79,500119,600103,20051,00055,400125,700

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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