XML 15 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Statements of Condensed Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ (22,278) $ 385,148
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Deferred income tax benefit (145,739) (78,958)
Depreciation, depletion and amortization 682,948 599,791
Asset and lease impairments 5,498 35,004
Provision for losses on (recoveries of) accounts receivable 1,165 (2,262)
Other income (23,199) (6,276)
Stock-based compensation expense 34,551 41,622
Loss (gain) on derivatives not designated as hedges 32,342 (209,114)
Cash settlements received on derivatives not designated as hedges 222,516 70,874
Pension settlement charge 9,403 0
Changes in other assets and liabilities:    
Excess tax benefits on stock-based compensation 0 (21,176)
Accounts receivable (11,521) 161,118
Accounts payable (12,916) (84,262)
Other items, net (5,071) 8,709
Net cash provided by operating activities 767,699 900,218
Cash flows from investing activities:    
Capital expenditures (1,193,321) (1,899,338)
Consideration paid for Statoil acquisition (412,348) 0
Capital contributions to Mountain Valley Pipeline, LLC (76,297) (84,182)
Sales of interests in Mountain Valley Pipeline, LLC 12,533 8,344
Net cash used in investing activities (1,669,433) (1,975,176)
Cash flows from financing activities:    
Proceeds from the issuance of common shares of EQT Corporation, net of issuance costs 1,225,999 0
Proceeds from the issuance of common units of EQT Midstream Partners, LP, net of issuance costs 217,102 758,812
Proceeds from the sale of common units of EQT GP Holdings, LP, net of sale costs 0 674,010
Increase in borrowings on EQT Midstream Partners, LP credit facility 430,000 561,500
Repayment of borrowings on EQT Midstream Partners, LP credit facility (638,000) (211,500)
Dividends paid (14,966) (13,725)
Distributions to noncontrolling interests (137,719) (85,218)
Repayments and retirements of long-term debt 0 (9,004)
Proceeds and excess tax benefits from awards under employee compensation plans 2,040 35,196
Cash paid for taxes related to net settlement of share-based incentive awards (26,517) (46,492)
Repurchase of common stock (23) (3,375)
Net cash provided by financing activities 1,057,916 1,660,204
Net change in cash and cash equivalents 156,182 585,246
Cash and cash equivalents at beginning of period 1,601,232 1,077,429
Cash and cash equivalents at end of period 1,757,414 1,662,675
Cash paid during the period for:    
Interest, net of amount capitalized 88,281 87,661
Income taxes, net 1,294 100,987
Non-cash activity during the period for:    
Increase in Mountain Valley Pipeline, LLC investment/payable for capital contributions $ 13,095 $ 0