Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2024

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, 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

	Three Months Ended March 31, 2024
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	1,073,169		48,520		671		(671)		1,121,689
Intersegment		582		—		278,380		(278,380)		582
Total revenue		1,073,751		48,520		279,051		(279,051)		1,122,271
Operating expenses:
Lease operating		29,121		—		—		—		29,121
Gathering, compression, processing, transportation and water handling		672,281		—		53,918		(53,918)		672,281
General and administrative		55,862		—		21,221		(21,221)		55,862
Depletion, depreciation and amortization		173,054		—		37,095		(37,095)		173,054
Impairment of property and equipment		5,190		—		—		—		5,190
Other		61,790		59,813		566		(566)		121,603
Total operating expenses		997,298		59,813		112,800		(112,800)		1,057,111
Operating income (loss)	$	76,453		(11,293)		166,251		(166,251)		65,160
Equity in earnings of unconsolidated affiliates	$	23,347		—		27,530		(27,530)		23,347
Capital expenditures for segment assets	$	222,449		—		35,073		(35,073)		222,449

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

	As of December 31, 2023
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Investments in unconsolidated affiliates	$	222,255		—		626,650		(626,650)		222,255
Total assets		13,602,297		17,117		5,737,618		(5,737,618)		13,619,414

	(Unaudited)
	As of March 31, 2024
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Investments in unconsolidated affiliates	$	226,034		—		619,220		(619,220)		226,034
Total assets		13,536,624		11,870		5,749,241		(5,749,241)		13,548,494