Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2022

Reportable Segments

Schedule of operating results and assets of reportable segments

The summarized operating results of the Company’s reportable segments are as follows (in thousands):

	Three Months Ended June 30, 2021
							Elimination of
					Equity Method		Intersegment
	Exploration				Investment in		Transactions and
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Sales and revenues:
Third-party	$	322,246		165,453		70		(70)		487,699
Intersegment		(619)		—		232,717		(232,717)		(619)
Total revenue	$	321,627		165,453		232,787		(232,787)		487,080
Operating expenses:
Lease operating	$	21,645		—		—		—		21,645
Gathering, compression, processing and transportation		641,362		—		39,555		(39,555)		641,362
General and administrative		32,177		—		14,251		(14,251)		32,177
Depletion, depreciation and amortization		187,330		—		26,619		(26,619)		187,330
Impairment of oil and gas properties		9,303		—		—		—		9,303
Other		39,219		198,994		963		(963)		238,213
Total operating expenses		931,036		198,994		81,388		(81,388)		1,130,030
Operating income (loss)	$	(609,409)		(33,541)		151,399		(151,399)		(642,950)
Equity in earnings of unconsolidated affiliates	$	17,477		—		21,515		(21,515)		17,477
Capital expenditures for segment assets	$	182,591		—		45,976		(45,976)		182,591

	Three Months Ended June 30, 2022
							Elimination of
					Equity Method		Intersegment
	Exploration				Investment in		Transactions and
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Sales and revenues:
Third-party	$	2,095,144		106,150		242		(242)		2,201,294
Intersegment		391		—		228,665		(228,665)		391
Total revenue	$	2,095,535		106,150		228,907		(228,907)		2,201,685
Operating expenses:
Lease operating	$	25,253		—		—		—		25,253
Gathering, compression, processing and transportation		656,212		—		43,299		(43,299)		656,212
General and administrative		44,439		—		16,079		(16,079)		44,439
Depletion, depreciation and amortization		173,395		—		35,675		(35,675)		173,395
Impairment of oil and gas properties		23,363		—		—		—		23,363
Other		86,207		131,298		5,458		(5,458)		217,505
Total operating expenses		1,008,869		131,298		100,511		(100,511)		1,140,167
Operating income (loss)	$	1,086,666		(25,148)		128,396		(128,396)		1,061,518
Equity in earnings of unconsolidated affiliates	$	14,713		—		22,824		(22,824)		14,713
Capital expenditures for segment assets	$	260,864		—		77,767		(77,767)		260,864

	Six Months Ended June 30, 2021
					Equity Method		Elimination of
					Investment in		Intersegment
	Exploration				Antero		Transactions and
	and				Midstream		Unconsolidated		Consolidated
	Production		Marketing		Corporation		Affiliates		Total
Sales and revenues:
Third-party	$	1,361,014		330,243		95		(95)		1,691,257
Intersegment		21		—		456,813		(456,813)		21
Total revenue		1,361,035		330,243		456,908		(456,908)		1,691,278
Operating expenses:
Lease operating		46,192		—		—		—		46,192
Gathering, compression, processing and transportation		1,246,439		—		78,869		(78,869)		1,246,439
General and administrative		76,251		—		32,181		(32,181)		76,251
Depletion, depreciation and amortization		381,356		—		53,469		(53,469)		381,356
Impairment of oil and gas properties		43,365		—		—		—		43,365
Impairment of midstream assets		—		—		1,379		(1,379)		—
Other		85,014		361,071		6,024		(6,024)		446,085
Total operating expenses		1,878,617		361,071		171,922		(171,922)		2,239,688
Operating income (loss)	$	(517,582)		(30,828)		284,986		(284,986)		(548,410)
Equity in earnings of unconsolidated affiliates	$	36,171		—		42,259		(42,259)		36,171
Capital expenditures for segment assets	$	305,749		—		74,365		(74,365)		305,749

	Six Months Ended June 30, 2022
							Elimination of
					Equity Method		Intersegment
	Exploration				Investment in		Transactions and
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Sales and revenues:
Third-party	$	2,812,525		175,188		637		(637)		2,987,713
Intersegment		812		—		446,761		(446,761)		812
Total revenue		2,813,337		175,188		447,398		(447,398)		2,988,525
Operating expenses:
Lease operating		43,033		—		—		—		43,033
Gathering, compression, processing and transportation		1,246,490		—		85,311		(85,311)		1,246,490
General and administrative		80,130		—		34,010		(34,010)		80,130
Depletion, depreciation and amortization		341,783		—		63,975		(63,975)		341,783
Impairment of oil and gas properties		45,825		—		—		—		45,825
Other		144,151		230,194		6,552		(6,552)		374,345
Total operating expenses		1,901,412		230,194		189,848		(189,848)		2,131,606
Operating income (loss)	$	911,925		(55,006)		257,550		(257,550)		856,919
Equity in earnings of unconsolidated affiliates	$	39,891		—		46,056		(46,056)		39,891
Capital expenditures for segment assets	$	476,740		—		162,034		(162,034)		476,740

The summarized assets of the Company’s reportable segments are as follows (in thousands):

	As of December 31, 2021
							Elimination of
					Equity Method		Intersegment
	Exploration				Investment in		Transactions and
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Investments in unconsolidated affiliates	$	232,399		—		696,009		(696,009)		232,399
Total assets	$	13,864,402		32,126		5,544,001		(5,544,001)		13,896,528

	(Unaudited)
	As of June 30, 2022
							Elimination of
					Equity Method		Intersegment
	Exploration				Investment in		Transactions and
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Investments in unconsolidated affiliates	$	229,095		—		681,560		(681,560)		229,095
Total assets	$	14,156,611		56,089		5,585,501		(5,585,501)		14,212,700