On March 12, 2019, AMGP and Antero Midstream Partners completed the Transactions. The Transactions have been accounted for using the acquisition method of accounting with Antero Midstream Corporation identified as the acquirer of Antero Midstream Partners.

The components of the fair value of consideration transferred are as follows (in thousands):

(1)The fair value of each share of AMC common stock issued in connection with the Transactions was determined to be $12.54, the closing price of AMGP common shares on March 12, 2019.

The final purchase price allocation of the Transactions, and final adjustments thereto, are summarized in the table below. The fair value of assets acquired and liabilities assumed at March 12, 2019 were as follows (in thousands):


		As Originally				As
		Reported		Adjustments		Adjusted
Cash and cash equivalents	$	619,532		—		619,532
Accounts receivable–Antero Resources		142,312		—		142,312
Accounts receivable–third party		117		—		117
Other current assets		1,150		—		1,150
Property and equipment, net		3,639,148		(267,721)		3,371,427
Investments in unconsolidated affiliates		1,090,109		(521,824)		568,285
Customer relationships		558,000		1,009,000		1,567,000
Other assets, net		42,887		—		42,887
Total assets acquired		6,093,255		219,455		6,312,710

Accounts payable–Antero Resources		3,316		—		3,316
Accounts payable–third party		30,674		—		30,674
Accrued liabilities		87,021		—		87,021
Other current liabilities		537		—		537
Long-term debt		2,364,935		—		2,364,935
Contingent acquisition consideration		116,924		—		116,924
Other liabilities		8,524		—		8,524
Total liabilities assumed		2,611,931		—		2,611,931
Net assets acquired, excluding goodwill		3,481,324		219,455		3,700,779
Goodwill		1,135,266		(219,455)		915,811
Net assets acquired	$	4,616,590	$	—	$	4,616,590

Adjustments to the preliminary purchase price allocation stem mainly from additional information obtained by the Company in between the closing of the Transactions on March 12, 2019 and December 31, 2019 about facts and circumstances that existed as of the date of the Transactions, including updates to the completion of certain valuations to determine the underlying fair value of certain assets. The decrease in the fair value of the property and equipment resulted in a $10 million reversal of Depreciation in the consolidated statement of operations. The increase in the fair value of customer relationships resulted in a $21 million increase in Amortization of customer relationships in the consolidated statement of operations. All customer relationships are subject to amortization, which will be recognized over a weighted-average period of 23 years.

The purchase price allocation resulted in the recognition of $575 million of goodwill in three reporting units within the Company’s gathering and processing segment and $340 million of goodwill in two reporting units within its water handling segment.

Substantially all of goodwill is expected to be deductible for tax purposes. Goodwill represents the efficiencies realized with simplifying our corporate structure to own, operate and develop midstream energy infrastructure primarily to service Antero Resources.

The Company’s financial statements include $6 million of acquisition-related costs associated with the Transactions. These costs were expensed as general and administrative costs.