Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2023

Reportable Segments

Schedule of operating results and assets of reportable segments

The operating results and assets of the Company’s reportable segments were as follows (in thousands):

	Three Months Ended March 31, 2022
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	717,283		69,038		395		(395)		786,321
Intersegment		519		—		218,096		(218,096)		519
Total revenue		717,802		69,038		218,491		(218,491)		786,840
Operating expenses:
Lease operating		17,780		—		—		—		17,780
Gathering, compression, processing, transportation and water handling		590,278		—		42,012		(42,012)		590,278
General and administrative		35,691		—		17,931		(17,931)		35,691
Depletion, depreciation and amortization		168,388		—		28,300		(28,300)		168,388
Impairment of property and equipment		22,462		—		—		—		22,462
Other		57,944		98,896		1,094		(1,094)		156,840
Total operating expenses		892,543		98,896		89,337		(89,337)		991,439
Operating income (loss)	$	(174,741)		(29,858)		129,154		(129,154)		(204,599)
Equity in earnings of unconsolidated affiliates	$	25,178		—		23,232		(23,232)		25,178
Capital expenditures for segment assets	$	215,876		—		84,267		(84,267)		215,876

	Three Months Ended March 31, 2023
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	1,349,476		58,529		272		(272)		1,408,005
Intersegment		343		—		259,203		(259,203)		343
Total revenue		1,349,819		58,529		259,475		(259,475)		1,408,348
Operating expenses:
Lease operating		29,321		—		—		—		29,321
Gathering, compression, processing, transportation and water handling		645,172		—		57,873		(57,873)		645,172
General and administrative		57,261		—		17,347		(17,347)		57,261
Depletion, depreciation and amortization		167,582		—		35,196		(35,196)		167,582
Impairment of property and equipment		15,560		—		—		—		15,560
Other		56,838		105,124		714		(714)		161,962
Total operating expenses		971,734		105,124		111,130		(111,130)		1,076,858
Operating income (loss)	$	378,085		(46,595)		148,345		(148,345)		331,490
Equity in earnings of unconsolidated affiliates	$	17,681		—		24,456		(24,456)		17,681
Capital expenditures for segment assets	$	351,312		—		42,279		(42,279)		351,312

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

	As of December 31, 2022
							Elimination of
					Equity Method		Intersegment
	Exploration				Investment in		Transactions and
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Investments in unconsolidated affiliates	$	220,429		—		652,767		(652,767)		220,429
Total assets		14,081,077		36,962		5,791,320		(5,791,320)		14,118,039

	(Unaudited)
	As of March 31, 2023
							Elimination of
					Equity Method		Intersegment
	Exploration				Investment in		Transactions and
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Investments in unconsolidated affiliates	$	219,515		—		643,118		(643,118)		219,515
Total assets		13,855,955		15,191		5,779,728		(5,779,728)		13,871,146