Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Convertible Debt

The following table summarizes Convertible Notes conversion right exercises from issuance through April 22, 2022. The Company elected to settle all such conversions by issuing to the converting holders shares of EQT common stock.

Settlement Month	Principal Converted		Shares Issued	Average Conversion Price
	(Thousands)
September 2021	$	9	599	$	19.64
March 2022	8		536	33.65
April 2022	26		1,742	34.78

The table below summarizes the net carrying value and fair value of the Convertible Notes.

	March 31, 2022		December 31, 2021
	(Thousands)
Principal	$	499,983	$	499,991
Less: Unamortized debt issuance costs	11,764		12,448
Net carrying value of Convertible Notes	$	488,219	$	487,543
Fair value of Convertible Notes (a)	$	1,187,320	$	854,985

(a)The fair value is a Level 2 fair value measurement. See Note 4 for further discussion.

The table below summarizes the components of interest expense related to the Convertible Notes. The effective interest rate for the Convertible Notes is 2.4%.

	Three Months Ended March 31,
	2022		2021
	(Thousands)
Contractual interest expense	$	2,187	$	2,188
Amortization of issuance costs	684		669
Total Convertible Notes interest expense	$	2,871	$	2,857