Revenue

12 Months Ended

Dec. 31, 2021

Revenue

Revenue

(5) Revenue

(a) Disaggregation of Revenue

The table set forth below presents revenue disaggregated by type and reportable segment to which it relates (in thousands). See Note 18—Reportable Segments to the consolidated financial statements for more information on reportable segments.

	Year Ended December 31,
	2019		2020		2021		Reportable Segment
Revenues from contracts with customers:
Natural gas sales	$	2,247,162		1,809,952		3,442,028	Exploration and production
Natural gas liquids sales (ethane)		124,563		113,811		206,889	Exploration and production
Natural gas liquids sales (C3+ NGLs)		1,094,599		1,047,872		1,940,610	Exploration and production
Oil sales		177,549		112,270		201,232	Exploration and production
Marketing		292,207		310,572		718,921	Marketing
Gathering and compression (1)		3,972		—		—	Equity method investment in Antero Midstream
Water handling and treatment (1)		506		—		—	Equity method investment in Antero Midstream
Total revenue from contracts with customers		3,940,558		3,394,477		6,509,680
Income (loss) from derivatives, deferred revenue and other sources, net		468,132		97,222		(1,890,248)
Total revenue	$	4,408,690		3,491,699		4,619,432

(1) Gathering and compression and water handling and treatment revenues were included through March 12, 2019. See Note 3—Deconsolidation of Antero Midstream Partners to the consolidated financial statements for further discussion on the Simplification Transactions.

(b) Transaction Price Allocated to Remaining Performance Obligations

For the Company’s product sales that have a contract term greater than one year, the Company utilized the practical expedient in ASC 606, Revenue from Contracts with Customers (“ASC 606”), which does not require the disclosure of the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under the Company’s product sales contracts, each unit of product delivered to the customer represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. For the Company’s product sales that have a contract term of one year or less, the Company utilized the practical expedient in ASC 606, which does not require the disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year

or less.

(c) Contract Balances

Under the Company’s sales contracts, the Company invoices customers after its performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s contracts do not give rise to contract assets or liabilities. As of December 31, 2020 and 2021, the Company’s receivables from contracts with customers were $425 million and $591 million, respectively.