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Interim Financial Information (Unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Interim Financial Information (Unaudited)
Interim Financial Information (Unaudited)
 
The following quarterly summary of operating results reflects variations due primarily to the impact of Tax Reform Legislation in the three months ended December 31, 2017, the volatility of natural gas commodity prices, including recognition of impairment expense on long-lived assets, and the seasonal nature of the Company’s transmission, storage and marketing businesses. The summary also reflects the operations of Rice for the period of November 13, 2017 through December 31, 2017 due to the closing of the Rice Merger on November 13, 2017.
 
 
Three Months Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
 
 
(Thousands, except per share amounts)
2017 (a)
 
 

 
 

 
 

 
 

Total operating revenues
 
$
897,523

 
$
690,893

 
$
660,313

 
$
1,129,286

Operating income
 
390,644

 
189,794

 
137,694

 
214,849

Net income
 
250,705

 
122,645

 
105,457

 
1,379,335

Net income attributable to EQT Corporation
 
163,992

 
41,126

 
23,340

 
1,280,071

Earnings per share of common stock attributable to EQT Corporation:
 
 

 
 

 
 

 
 

Basic:
 
 

 
 

 
 

 
 

Net income
 
$
0.95

 
$
0.24

 
$
0.13

 
$
5.85

Diluted:
 
 
 
 
 
 
 
 

Net income
 
$
0.95

 
$
0.24

 
$
0.13

 
$
5.83

2016 (a)
 
 

 
 

 
 

 
 

Total operating revenues
 
$
545,069

 
$
127,531

 
$
556,726

 
$
379,022

Operating income
 
127,201

 
(324,492
)
 
108,457

 
(189,466
)
Net income (loss)
 
88,425

 
(180,807
)
 
70,104

 
(108,785
)
Net income (loss) attributable to EQT Corporation
 
5,636

 
(258,645
)
 
(8,016
)
 
(191,958
)
Earnings per share of common stock attributable to EQT Corporation:
 
 

 
 

 
 

 
 

Basic:
 
 

 
 

 
 

 
 

Net income (loss)
 
$
0.04

 
$
(1.55
)
 
$
(0.05
)
 
$
(1.11
)
Diluted:
 
 

 
 

 
 

 
 

Net income (loss)
 
$
0.04

 
$
(1.55
)
 
$
(0.05
)
 
$
(1.11
)