XML 15 R2.htm IDEA: XBRL DOCUMENT v3.19.2
Statements of Condensed Consolidated Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating revenues:        
Sales of natural gas, oil and NGLs $ 900,527 $ 1,000,756 $ 2,172,140 $ 2,229,407
Gain (loss) on derivatives not designated as hedges 407,635 (53,897) 275,639 8,695
Total operating revenues 1,310,252 950,648 2,453,425 2,262,684
Operating expenses:        
Transportation and processing 436,984 428,069 876,230 844,726
Production 36,316 47,863 79,724 106,497
Exploration 1,857 1,653 2,864 2,878
Selling, general and administrative 86,208 62,959 135,186 102,774
Depreciation and depletion 372,413 371,709 763,526 764,402
Impairment/loss on sale of long-lived assets 0 118,114 0 2,447,159
Lease impairments and expirations 48,584 19,529 78,118 23,408
Proxy, transaction and reorganization 21,518 5,060 25,607 15,138
Amortization of intangible assets 10,342 10,342 20,684 20,684
Total operating expenses 1,014,222 1,065,298 1,981,939 4,327,666
Operating income (loss) 296,030 (114,650) 471,486 (2,064,982)
Unrealized (loss) on investment in Equitrans Midstream Corporation (104,741) 0 (15,686) 0
Dividend and other income (expense) 23,645 (130) 44,632 (260)
Interest expense 50,503 57,120 107,076 115,031
Income (loss) from continuing operations before income taxes 164,431 (171,900) 393,356 (2,180,273)
Income tax expense (benefit) 38,865 (94,922) 77,099 (524,762)
Income (loss) from continuing operations 125,566 (76,978) 316,257 (1,655,511)
Income from discontinued operations, net of tax 0 213,324 0 346,878
Net income (loss) 125,566 136,346 316,257 (1,308,633)
Less: Net income from discontinued operations attributable to noncontrolling interests 0 118,540 0 259,555
Amounts attributable to EQT Corporation:        
Income (loss) from continuing operations 125,566 (76,978) 316,257 (1,655,511)
Income from discontinued operations, net of tax 0 94,784 0 87,323
Net income (loss) attributable to EQT Corporation $ 125,566 $ 17,806 $ 316,257 $ (1,568,188)
Basic:        
Weighted average common stock outstanding (in shares) 255,099 265,030 254,975 264,920
Income (loss) from continuing operations (in dollars per share) $ 0.49 $ (0.29) $ 1.24 $ (6.25)
Income from discontinued operations (in dollars per share) 0 0.36 0 0.33
Net income (loss) (in dollars per share) $ 0.49 $ 0.07 $ 1.24 $ (5.92)
Diluted:        
Weighted average common stock outstanding (in shares) 255,223 265,154 255,211 264,920
Income (loss) from continuing operations (in dollars per share) $ 0.49 $ (0.29) $ 1.24 $ (6.25)
Income from discontinued operations (in dollars per share) 0 0.36 0 0.33
Net income (loss) (in dollars per share) $ 0.49 $ 0.07 $ 1.24 $ (5.92)
Sales of natural gas, oil and NGLs        
Operating revenues:        
Sales of natural gas, oil and NGLs $ 900,527 $ 991,365 $ 2,172,140 $ 2,217,739
Net marketing services and other        
Operating revenues:        
Net marketing services and other $ 2,090 $ 13,180 $ 5,646 $ 36,250