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STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income (loss) $ 1,858,142 $ (131,063) $ 321,886
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Deferred income taxes (1,050,612) (180,261) 17,876
Depreciation, depletion and amortization 1,077,559 927,920 819,216
Amortization of intangible assets 10,940 0 0
Asset and lease impairments and exploratory well costs 20,327 75,434 182,242
Gain on sale / exchange of assets 0 (8,025) 0
Loss on debt extinguishment 12,641 0 0
(Recoveries of) provision for losses on accounts receivable (979) 3,856 (1,903)
Other income (24,955) (31,693) (9,953)
Stock-based compensation expense 94,592 44,605 58,629
(Gain) loss on derivatives not designated as hedges (390,021) 248,991 (385,762)
Cash settlements received on derivatives not designated as hedges 40,728 279,425 172,093
Pension settlement charge 0 9,403 0
Changes in other assets and liabilities:      
Excess tax benefits on stock-based compensation 0 (1,148) (22,945)
Accounts receivable (8,979) (165,507) 131,031
Accounts payable (16,680) 40,548 (37,623)
Other items, net 14,995 (48,165) (27,847)
Net cash provided by operating activities 1,637,698 1,064,320 1,216,940
Cash flows from investing activities:      
Capital expenditures (1,939,202) (1,538,125) (2,434,018)
Cash payments for Rice Merger (as defined in Note 2), net of cash acquired (1,560,272) 0 0
Capital expenditures for other acquisitions (818,957) (1,051,239) 0
Investments in trading securities 0 (288,772) 0
Sales of investments in trading securities 283,758 3,890 0
Dry hole costs (11,420) (1,369) (17,130)
Capital contributions to Mountain Valley Pipeline, LLC (159,550) (98,399) (84,182)
Sales of interests in Mountain Valley Pipeline, LLC 0 12,533 9,723
Restricted cash, net 75,000 (75,000) 0
Proceeds from sale of assets 3,573 75,000 0
Net cash used in investing activities (4,127,070) (2,961,481) (2,525,607)
Cash flows from financing activities:      
Proceeds from the issuance of common shares of EQT Corporation, net of issuance costs 0 1,225,999 0
Proceeds from the issuance of common units of EQT Midstream Partners, LP, net of issuance costs 0 217,102 1,182,002
Proceeds from the sale of common units of EQT GP Holdings, LP, net of issuance costs 0 0 673,964
Proceeds from issuance of debt 3,000,000 500,000 0
Increase in borrowings on credit facilities 2,063,000 740,000 617,000
Repayment of borrowings on credit facilities (1,076,500) (1,039,000) (318,000)
Dividends paid (20,827) (20,156) (18,310)
Distributions to noncontrolling interests (236,123) (189,981) (121,759)
Contribution to Strike Force Midstream by minority owner, net of distribution 6,738 0 0
Repayments and retirements of debt (2,000,000) (5,119) (169,004)
Proceeds and excess tax benefits from awards under employee compensation plans 244 6,165 36,965
Cash paid for taxes related to net settlement of share-based incentive awards (72,116) (26,931) (47,013)
Debt issuance costs and revolving credit facility origination fees (41,876) (8,580) 0
Premiums paid on debt extinguishment (89,363) 0 0
Repurchase of common stock (30) (30) (3,375)
Net cash provided by financing activities 1,533,147 1,399,469 1,832,470
Net change in cash and cash equivalents (956,225) (497,692) 523,803
Cash and cash equivalents at beginning of year 1,103,540 1,601,232 1,077,429
Cash and cash equivalents at end of year 147,315 1,103,540 1,601,232
Cash paid (received) during the year for:      
Interest, net of amount capitalized 189,371 144,657 147,550
Income taxes, net $ 3,637 $ (41,142) $ 95,708