Subsidiary Guarantors

9 Months Ended

Sep. 30, 2018

Subsidiary Guarantors

Subsidiary Guarantors

(16)Subsidiary Guarantors

Each of Antero’s wholly-owned subsidiaries has fully and unconditionally guaranteed Antero’s senior notes.  Antero Midstream and its subsidiaries have been designated as unrestricted subsidiaries under the Credit Facility and the indentures governing Antero’s senior notes, and do not guarantee any of Antero’s obligations (see Note 7).  In the event a subsidiary guarantor is sold or disposed of (whether by merger, consolidation, the sale of a sufficient amount of its capital stock so that it no longer qualifies as a “Subsidiary” of the Company (as defined in the indentures governing the notes) or the sale of all or substantially all of its assets (other than by lease)) and whether or not the subsidiary guarantor is the surviving entity in such transaction to a person which is not Antero or a restricted subsidiary of Antero, such subsidiary guarantor will be released from its obligations under its subsidiary guarantee if the sale or other disposition does not violate the covenants set forth in the indentures governing the notes.

In addition, a subsidiary guarantor will be released from its obligations under the indentures and its guarantee, upon the release or discharge of the guarantee of other Indebtedness (as defined in the indentures governing the notes) that resulted in the creation of such guarantee, except a release or discharge by or as a result of payment under such guarantee; if Antero designates such subsidiary as an unrestricted subsidiary and such designation complies with the other applicable provisions of the indentures governing the notes or in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the notes.

The following Condensed Consolidating Balance Sheets at December 31, 2017 and September 30, 2018, and the related Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2017 and 2018 and Condensed Consolidating Statements of Cash Flows for the nine months ended September 30, 2017 and 2018 present financial information for Antero on a stand-alone basis (carrying its investment in subsidiaries using the equity method), financial information for the subsidiary guarantors, financial information for the non-guarantor subsidiaries, and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis.  Antero’s wholly-owned subsidiaries are not restricted from making distributions to the Parent.

Distributions received by Antero from Antero Midstream have been reclassified from investing activities to operating activities on the Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2017.  The reclassification is a result of the adoption of ASU No. 2016-05, Classification of Certain Cash Receipts and Cash Payments, which provides for an accounting policy election to account for distributions received from equity method investees under the “nature of distribution” approach.

Condensed Consolidating Balance Sheet

December 31, 2017

(In thousands)

	Parent (Antero)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries (Antero Midstream)		Eliminations		Consolidated
Assets
Current assets:
Cash and cash equivalents	$	20,078		—		8,363		—		28,441
Accounts receivable, net		33,726		—		1,170		—		34,896
Intercompany receivables		6,459		—		110,182		(116,641)		—
Accrued revenue		300,122		—		—		—		300,122
Derivative instruments		460,685		—		—		—		460,685
Other current assets		8,273		—		670		—		8,943
Total current assets		829,343		—		120,385		(116,641)		833,087
Property and equipment:
Natural gas properties, at cost (successful efforts method):
Unproved properties		2,266,673		—		—		—		2,266,673
Proved properties		11,460,615		—		—		(364,153)		11,096,462
Water handling and treatment systems		—		—		942,361		4,309		946,670
Gathering systems and facilities		17,929		—		2,032,561		—		2,050,490
Other property and equipment		57,429		—		—		—		57,429
		13,802,646		—		2,974,922		(359,844)		16,417,724
Less accumulated depletion, depreciation, and amortization		(2,812,851)		—		(369,320)		—		(3,182,171)
Property and equipment, net		10,989,795		—		2,605,602		(359,844)		13,235,553
Derivative instruments		841,257		—		—		—		841,257
Investments in subsidiaries		(573,926)		—		—		573,926		—
Contingent acquisition consideration		208,014		—		—		(208,014)		—
Investments in unconsolidated affiliates		—		—		303,302		—		303,302
Other assets		35,371		—		12,920		—		48,291
Total assets	$	12,329,854		—		3,042,209		(110,573)		15,261,490
Liabilities and Equity
Current liabilities:
Accounts payable	$	54,340		—		8,642		—		62,982
Intercompany payable		110,182		—		6,459		(116,641)		—
Accrued liabilities		338,819		—		106,006		(1,600)		443,225
Revenue distributions payable		209,617		—		—		—		209,617
Derivative instruments		28,476		—		—		—		28,476
Other current liabilities		17,587		—		209		—		17,796
Total current liabilities		759,021		—		121,316		(118,241)		762,096
Long-term liabilities:
Long-term debt		3,604,090		—		1,196,000		—		4,800,090
Deferred income tax liability		779,645		—		—		—		779,645
Contingent acquisition consideration		—		—		208,014		(208,014)		—
Derivative instruments		207		—		—		—		207
Other liabilities		42,906		—		410		—		43,316
Total liabilities		5,185,869		—		1,525,740		(326,255)		6,385,354
Equity:
Stockholders' equity:
Partners' capital		—		—		1,516,469		(1,516,469)		—
Common stock		3,164		—		—		—		3,164
Additional paid-in capital		5,565,756		—		—		1,005,196		6,570,952
Accumulated earnings		1,575,065		—		—		—		1,575,065
Total stockholders' equity		7,143,985		—		1,516,469		(511,273)		8,149,181
Noncontrolling interests in consolidated subsidiary		—		—		—		726,955		726,955
Total equity		7,143,985		—		1,516,469		215,682		8,876,136
Total liabilities and equity	$	12,329,854		—		3,042,209		(110,573)		15,261,490

Condensed Consolidating Balance Sheet

September 30, 2018

(In thousands)

	Parent (Antero)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries (Antero Midstream)		Eliminations		Consolidated
Assets
Current assets:
Accounts receivable, net		—		—		115,905		(115,905)		—
Intercompany receivables		30,018		—		16,586		—		46,604
Accrued revenue		354,010		—		—		—		354,010
Derivative instruments		493,354		—		—		—		493,354
Other current assets		11,190		—		1,474		—		12,664
Total current assets		888,572		—		133,965		(115,905)		906,632
Property and equipment:
Natural gas properties, at cost (successful efforts method):
Unproved properties		1,928,990		—		—		—		1,928,990
Proved properties		12,871,199		—		—		(565,001)		12,306,198
Water handling and treatment systems		—		—		984,225		9,060		993,285
Gathering systems and facilities		17,824		—		2,366,217		—		2,384,041
Other property and equipment		62,666		—		73		—		62,739
		14,880,679		—		3,350,515		(555,941)		17,675,253
Less accumulated depletion, depreciation, and amortization		(3,414,193)		—		(476,641)		—		(3,890,834)
Property and equipment, net		11,466,486		—		2,873,874		(555,941)		13,784,419
Derivative instruments		672,768		—		—		—		672,768
Investments in subsidiaries		(756,785)		—		—		756,785		—
Contingent acquisition consideration		219,855		—		—		(219,855)		—
Investments in unconsolidated affiliates		—		—		392,893		—		392,893
Other assets		31,727		—		14,096		—		45,823
Total assets	$	12,522,623		—		3,414,828		(134,916)		15,802,535
Liabilities and Equity
Current liabilities:
Accounts payable	$	76,284		—		15,656		—		91,940
Intercompany payable		112,147		—		3,758		(115,905)		—
Accrued liabilities		368,958		—		88,258		—		457,216
Revenue distributions payable		245,832		—		—		—		245,832
Derivative instruments		10,456		—		—		—		10,456
Other current liabilities		6,735		—		215		1,477		8,427
Total current liabilities		820,412		—		107,887		(114,428)		813,871
Long-term liabilities:
Long-term debt		3,970,150		—		1,516,854		—		5,487,004
Deferred income tax liability		782,145		—		—		—		782,145
Contingent acquisition consideration		—		—		219,855		(219,855)		—
Other liabilities		42,693		—		5,670		—		48,363
Total liabilities		5,615,400		—		1,850,266		(334,283)		7,131,383
Equity:
Stockholders' equity:
Partners' capital		—		—		1,564,562		(1,564,562)		—
Common stock		3,171		—		—		—		3,171
Additional paid-in capital		5,604,958		—		—		1,006,390		6,611,348
Accumulated earnings		1,299,094		—		—		—		1,299,094
Total stockholders' equity		6,907,223		—		1,564,562		(558,172)		7,913,613
Noncontrolling interests in consolidated subsidiary		—		—		—		757,539		757,539
Total equity		6,907,223		—		1,564,562		199,367		8,671,152
Total liabilities and equity	$	12,522,623		—		3,414,828		(134,916)		15,802,535

Condensed Consolidating Statement of Operations and Comprehensive Income

Three Months Ended September 30, 2017

(In thousands)

	Parent (Antero)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries (Antero Midstream)		Eliminations		Consolidated
Revenue and other:
Natural gas sales	$	409,141		—		—		—		409,141
Natural gas liquids sales		224,533		—		—		—		224,533
Oil sales		26,527		—		—		—		26,527
Commodity derivative fair value losses		(65,957)		—		—		—		(65,957)
Gathering, compression, water handling and treatment		—		—		193,629		(190,760)		2,869
Marketing		50,767		—		—		—		50,767
Other income		3,070		—		—		(3,070)		—
Total revenue		648,081		—		193,629		(193,830)		647,880
Operating expenses:
Lease operating		24,060		—		51,569		(52,138)		23,491
Gathering, compression, processing, and transportation		369,538		—		10,468		(97,872)		282,134
Production and ad valorem taxes		22,002		—		993		—		22,995
Marketing		78,884		—		—		—		78,884
Exploration		1,599		—		—		—		1,599
Impairment of unproved properties		41,000		—		—		—		41,000
Depletion, depreciation, and amortization		176,412		—		30,556		—		206,968
Accretion of asset retirement obligations		658		—		—		—		658
General and administrative		48,289		—		14,316		(402)		62,203
Accretion of contingent acquisition consideration		—		—		2,556		(2,556)		—
Total operating expenses		762,442		—		110,458		(152,968)		719,932
Operating income (loss)		(114,361)		—		83,171		(40,862)		(72,052)
Other income (expenses):
Equity in earnings of unconsolidated affiliates		—		—		7,033		—		7,033
Interest		(60,906)		—		(9,311)		158		(70,059)
Equity in earnings (loss) of consolidated subsidiaries		(4,874)		—		—		4,874		—
Total other expenses		(65,780)		—		(2,278)		5,032		(63,026)
Income (loss) before income taxes		(180,141)		—		80,893		(35,830)		(135,078)
Provision for income tax benefit		45,078		—		—		—		45,078
Net income (loss) and comprehensive income (loss) including noncontrolling interests		(135,063)		—		80,893		(35,830)		(90,000)
Net income and comprehensive income attributable to noncontrolling interests		—		—		—		45,063		45,063
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$	(135,063)		—		80,893		(80,893)		(135,063)

Condensed Consolidating Statement of Operations and Comprehensive Income

Three Months Ended September 30, 2018

(In thousands)

	Parent (Antero)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries (Antero Midstream)		Eliminations		Consolidated
Revenue and other:
Natural gas sales	$	527,122		—		—		—		527,122
Natural gas liquids sales		338,269		—		—		—		338,269
Oil sales		59,722		—		—		—		59,722
Commodity derivative fair value gains		57,019		—		—		—		57,019
Gathering, compression, water handling and treatment		—		—		266,205		(261,361)		4,844
Marketing		89,598		—		—		—		89,598
Marketing derivative losses		(42)		—		—		—		(42)
Other income		5,327		—		—		(5,327)		—
Total revenue		1,077,015		—		266,205		(266,688)		1,076,532
Operating expenses:
Lease operating		35,124		—		67,608		(66,463)		36,269
Gathering, compression, processing, and transportation		442,602		—		12,701		(128,799)		326,504
Production and ad valorem taxes		29,352		—		1,166		—		30,518
Marketing		151,764		—		—		—		151,764
Exploration		666		—		—		—		666
Impairment of unproved properties		221,094		—		—		—		221,094
Impairment of gathering systems and facilities		—		—		1,157		—		1,157
Depletion, depreciation, and amortization		204,730		—		38,456		—		243,186
Accretion of asset retirement obligations		677		—		33		—		710
General and administrative		45,477		—		15,015		(632)		59,860
Accretion of contingent acquisition consideration		—		—		4,020		(4,020)		—
Total operating expenses		1,131,486		—		140,156		(199,914)		1,071,728
Operating income (loss)		(54,471)		—		126,049		(66,774)		4,804
Other income (expenses):
Equity in earnings of unconsolidated affiliates		—		—		10,705		—		10,705
Interest		(57,632)		—		(16,989)		93		(74,528)
Equity in earnings (loss) of consolidated subsidiaries		(23,363)		—		—		23,363		—
Total other expenses		(80,995)		—		(6,284)		23,456		(63,823)
Income (loss) before income taxes		(135,466)		—		119,765		(43,318)		(59,019)
Provision for income tax expense		(18,953)		—		—		—		(18,953)
Net income (loss) and comprehensive income (loss) including noncontrolling interests		(154,419)		—		119,765		(43,318)		(77,972)
Net income and comprehensive income attributable to noncontrolling interests		—		—		—		76,447		76,447
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$	(154,419)		—		119,765		(119,765)		(154,419)

Condensed Consolidating Statement of Operations and Comprehensive Income

Nine Months Ended September 30, 2017

(In thousands)

	Parent (Antero)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries (Antero Midstream)		Eliminations		Consolidated
Revenue and other:
Natural gas sales	$	1,330,062		—		—		—		1,330,062
Natural gas liquids sales		590,004		—		—		—		590,004
Oil sales		79,999		—		—		—		79,999
Commodity derivative fair value gains		458,459		—		—		—		458,459
Gathering, compression, water handling and treatment		—		—		562,165		(553,500)		8,665
Marketing		166,659		—		—		—		166,659
Other income		11,421		—		—		(11,421)		—
Total revenue and other		2,636,604		—		562,165		(564,921)		2,633,848
Operating expenses:
Lease operating		56,991		—		131,635		(132,592)		56,034
Gathering, compression, processing, and transportation		1,070,522		—		28,492		(283,304)		815,710
Production and ad valorem taxes		67,576		—		2,765		—		70,341
Marketing		246,298		—		—		—		246,298
Exploration		5,510		—		—		—		5,510
Impairment of unproved properties		83,098		—		—		—		83,098
Depletion, depreciation, and amortization		522,275		—		88,604		—		610,879
Accretion of asset retirement obligations		1,944		—		—		—		1,944
General and administrative		148,876		—		43,562		(1,438)		191,000
Accretion of contingent acquisition consideration		—		—		9,672		(9,672)		—
Total operating expenses		2,203,090		—		304,730		(427,006)		2,080,814
Operating income		433,514		—		257,435		(137,915)		553,034
Other income (expenses):
Equity in earnings of unconsolidated affiliates		—		—		12,887		—		12,887
Interest		(178,644)		—		(27,162)		495		(205,311)
Equity in earnings (loss) of consolidated subsidiaries		(21,582)		—		—		21,582		—
Total other expenses		(200,226)		—		(14,275)		22,077		(192,424)
Income before income taxes		233,288		—		243,160		(115,838)		360,610
Provision for income tax expense		(105,087)		—		—		—		(105,087)
Net income and comprehensive income including noncontrolling interests		128,201		—		243,160		(115,838)		255,523
Net income and comprehensive income attributable to noncontrolling interests		—		—		—		127,322		127,322
Net income and comprehensive income attributable to Antero Resources Corporation	$	128,201		—		243,160		(243,160)		128,201

Condensed Consolidating Statement of Operations and Comprehensive Income

Nine Months Ended September 30, 2018

(In thousands)

	Parent (Antero)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries (Antero Midstream)		Eliminations		Consolidated
Revenue and other:
Natural gas sales	$	1,498,324		—		—		—		1,498,324
Natural gas liquids sales		828,424		—		—		—		828,424
Oil sales		128,869		—		—		—		128,869
Commodity derivative fair value gains		134,793		—		—		—		134,793
Gathering, compression, water handling and treatment		—		—		746,188		(730,890)		15,298
Marketing		394,189		—		—		—		394,189
Marketing derivative gains		94,081		—		—		—		94,081
Gain on sale of assets		—		—		583		(583)		—
Other income		16,381		—		—		(16,381)		—
Total revenue and other		3,095,061		—		746,771		(747,854)		3,093,978
Operating expenses:
Lease operating		98,698		—		184,698		(190,241)		93,155
Gathering, compression, processing, and transportation		1,236,655		—		36,469		(346,896)		926,228
Production and ad valorem taxes		79,045		—		3,187		—		82,232
Marketing		560,924		—		—		—		560,924
Exploration		4,022		—		—		—		4,022
Impairment of unproved properties		406,068		—		—		—		406,068
Impairment of gathering systems and facilities		4,470		—		5,771		(583)		9,658
Depletion, depreciation, and amortization		602,159		—		107,321		—		709,480
Accretion of asset retirement obligations		2,000		—		101		—		2,101
General and administrative		138,555		—		44,967		(1,946)		181,576
Accretion of contingent acquisition consideration		—		—		11,841		(11,841)		—
Total operating expenses		3,132,596		—		394,355		(551,507)		2,975,444
Operating income (loss)		(37,535)		—		352,416		(196,347)		118,534
Other income (expenses):
Equity in earnings of unconsolidated affiliates		—		—		27,832		—		27,832
Interest		(165,519)		—		(42,913)		129		(208,303)
Equity in earnings (loss) of consolidated subsidiaries		(70,417)		—		—		70,417		—
Total other expenses		(235,936)		—		(15,081)		70,546		(180,471)
Income (loss) before income taxes		(273,471)		—		337,335		(125,801)		(61,937)
Provision for income tax expense		(2,500)		—		—		—		(2,500)
Net income (loss) and comprehensive income (loss) including noncontrolling interests		(275,971)		—		337,335		(125,801)		(64,437)
Net income and comprehensive income attributable to noncontrolling interests		—		—		—		211,534		211,534
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$	(275,971)		—		337,335		(337,335)		(275,971)

Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 30, 2017

(In thousands)

	Parent (Antero)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries (Antero Midstream)		Eliminations		Consolidated
Cash flows provided by (used in) operating activities:
Net income including noncontrolling interests	$	128,201		—		243,160		(115,838)		255,523
Adjustment to reconcile net income to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion		524,219		—		88,604		—		612,823
Accretion of contingent acquisition consideration		(9,672)		—		9,672		—		—
Impairment of unproved properties		83,098		—		—		—		83,098
Commodity derivative fair value gains		(458,459)		—		—		—		(458,459)
Gains on settled commodity derivatives		137,392		—		—		—		137,392
Proceeds from derivative monetizations		749,906		—		—		—		749,906
Deferred income tax expense		105,087		—		—		—		105,087
Equity-based compensation expense		58,489		—		20,436		—		78,925
Equity in earnings of unconsolidated affiliates		21,582		—		—		(21,582)		—
Equity in (earnings) loss of consolidated subsidiaries		—		—		(12,887)		—		(12,887)
Distributions of earnings from unconsolidated affiliates		—		—		10,120		—		10,120
Distributions from Antero Midstream		97,984		—		—		(97,984)		—
Other		(715)		—		1,906		—		1,191
Changes in current assets and liabilities		145,131		—		(16,744)		1,702		130,089
Net cash provided by operating activities		1,582,243		—		344,267		(233,702)		1,692,808
Cash flows used in investing activities:
Additions to proved properties		(179,318)		—		—		—		(179,318)
Additions to unproved properties		(182,207)		—		—		—		(182,207)
Drilling and completion costs		(1,082,226)		—		—		135,718		(946,508)
Additions to water handling and treatment systems		—		—		(143,470)		—		(143,470)
Additions to gathering systems and facilities		—		—		(254,619)		—		(254,619)
Additions to other property and equipment		(11,417)		—		—		—		(11,417)
Investments in unconsolidated affiliates		—		—		(216,776)		—		(216,776)
Change in other assets		(10,271)		—		(5,877)		—		(16,148)
Proceeds from contribution of assets to non-guarantor subsidiary		2,156		—		—		—		2,156
Net cash used in investing activities		(1,463,283)		—		(620,742)		135,718		(1,948,307)
Cash flows provided by (used in) financing activities:
Issuance of common stock		—		—		—		—		—
Issuance of common units by Antero Midstream		—		—		248,949		—		248,949
Sale of common units in Antero Midstream by Antero Resources Corporation		311,100		—		—		—		311,100
Borrowings (repayments) on bank credit facility, net		(415,000)		—		217,000		—		(198,000)
Distributions		—		—		(200,037)		97,984		(102,053)
Employee tax withholding for settlement of equity compensation awards		(7,568)		—		(932)		—		(8,500)
Other		(3,861)		—		(52)		—		(3,913)
Net cash provided by (used in) financing activities		(115,329)		—		264,928		97,984		247,583
Net increase (decrease) in cash and cash equivalents		3,631		—		(11,547)		—		(7,916)
Cash and cash equivalents, beginning of period		17,568		—		14,042		—		31,610
Cash and cash equivalents, end of period	$	21,199		—		2,495		—		23,694

Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 30, 2018

(In thousands)

	Parent (Antero)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries (Antero Midstream)		Eliminations		Consolidated
Cash flows provided by (used in) operating activities:
Net income (loss) including noncontrolling interests	$	(275,971)		—		337,335		(125,801)		(64,437)
Adjustment to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion		604,159		—		107,422		—		711,581
Accretion of contingent acquisition consideration		(11,841)		—		11,841		—		—
Impairment of unproved properties		406,068		—		—		—		406,068
Impairment of gathering systems and facilities		4,470		—		5,771		(583)		9,658
Commodity derivative fair value gains		(134,793)		—		—		—		(134,793)
Gains on settled commodity derivatives		268,369		—		—		—		268,369
Marketing derivative fair value gains		(94,081)		—		—		—		(94,081)
Gains on settled marketing derivatives		78,098		—		—		—		78,098
Deferred income tax expense		2,500		—		—		—		2,500
Gain on sale of assets		—		—		(583)		583		—
Equity-based compensation expense		39,823		—		16,606		—		56,429
Equity in (earnings) loss of consolidated subsidiaries		70,417		—		—		(70,417)		—
Equity in earnings of unconsolidated affiliates		—		—		(27,832)		—		(27,832)
Distributions of earnings from unconsolidated affiliates		—		—		29,660		—		29,660
Distributions from Antero Midstream		115,678		—		—		(115,678)		—
Other		862		—		2,083		—		2,945
Changes in current assets and liabilities		20,015		—		(10,901)		7,119		16,233
Net cash provided by operating activities		1,093,773		—		471,402		(304,777)		1,260,398
Cash flows used in investing activities:
Additions to unproved properties		(130,381)		—		—		—		(130,381)
Drilling and completion costs		(1,328,289)		—		—		202,629		(1,125,660)
Additions to water handling and treatment systems		—		—		(68,325)		(9,060)		(77,385)
Additions to gathering systems and facilities		175		—		(337,623)		—		(337,448)
Additions to other property and equipment		(5,371)		—		—		—		(5,371)
Investments in unconsolidated affiliates		—		—		(91,419)		—		(91,419)
Change in other assets		(1,810)		—		(865)		—		(2,675)
Other		—		—		4,470		(4,470)		—
Net cash used in investing activities		(1,465,676)		—		(493,762)		189,099		(1,770,339)
Cash flows provided by (used in) financing activities:
Borrowings (repayments) on bank credit facility, net		362,000		—		320,000		—		682,000
Distributions		—		—		(304,453)		115,678		(188,775)
Employee tax withholding for settlement of equity compensation awards		(6,806)		—		(1,399)		—		(8,205)
Other		(3,369)		—		(151)		—		(3,520)
Net cash provided by financing activities		351,825		—		13,997		115,678		481,500
Net decrease in cash and cash equivalents		(20,078)		—		(8,363)		—		(28,441)
Cash and cash equivalents, beginning of period		20,078		—		8,363		—		28,441
Cash and cash equivalents, end of period	$	—		—		—		—		—