Consolidated Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of amounts included in balance sheets, consolidated operations and cash flows of EQGP and EQM

The following table presents amounts included in the Company's Condensed Consolidated Balance Sheets that were for the use or obligation of EQGP or EQM as of March 31, 2017 and December 31, 2016.



Classification	March 31, 2017		December 31, 2016
	(Thousands)
Assets:
Cash and cash equivalents	$	42,768	$	60,453
Accounts receivable	21,630		20,662
Prepaid expenses and other	1,582		5,745
Property, plant and equipment, net	2,632,465		2,578,834
Other assets	258,779		206,104
Liabilities:
Accounts payable	$	43,531	$	35,831
Other current liabilities	61,807		32,242
Long-term debt	986,137		985,732
Other liabilities and credits	10,258		9,562

The following table summarizes EQGP's Statements of Consolidated Operations and Cash Flows for the three months ended March 31, 2017 and 2016, inclusive of affiliate amounts.



	Three Months Ended March 31,
	2017			2016
	(Thousands)
Operating revenues	$	203,426		$	185,786
Operating expenses	59,525			49,623
Other expenses	1,913			384
Net income	$	141,988		$	135,779

Net cash provided by operating activities	$	160,769		$	115,644
Net cash used in investing activities	(81,687		)	(123,522		)
Net cash used in financing activities	(96,767		)	(352,704		)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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