Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Allocation of Purchase Price

The Company expects to complete the purchase price allocation once it has received all necessary information, at which time the value of the assets acquired and liabilities assumed will be revised if necessary.

	Preliminary Purchase Price Allocation
	(Thousands)
Consideration:
Equity	$	5,548,608
Cash (paid in lieu of fractional shares)	29
Redemption of Equitrans Midstream preferred stock	685,337
Settlement of pre-existing relationships	(239,741)
Total consideration	$	5,994,233
Fair value of assets acquired:
Cash and cash equivalents	$	58,767
Accounts receivable, net	82,072
Income tax receivable	2,142
Prepaid expenses and other	22,048
Property, plant and equipment	9,379,642
Investments in unconsolidated entities	3,363,336
Net intangible assets	200,000
Other assets	249,846
Noncontrolling interest in consolidated subsidiaries	(162,993)
Amount attributable to assets acquired	$	13,194,860
Fair value of liabilities assumed:
Current portion of debt	$	699,837
Accounts payable	65,006
Accrued interest	47,996
Other current liabilities	70,951
Revolving credit facility borrowings	1,035,000
Senior notes	6,273,941
Deferred income taxes	935,106
Other liabilities and credits	152,271
Amount attributable to liabilities assumed	$	9,280,108
Goodwill	$	2,079,481

Schedule of Post-Acquisition Operating Results

The table below summarizes amounts contributed by the assets acquired in the Equitrans Midstream Merger, inclusive of intercompany eliminations, to the Company's consolidated results for the period beginning on July 22, 2024 and ending on December 31, 2024.

	July 22, 2024 through December 31, 2024
	(Thousands)
Loss on derivatives	$	(16,763)
Pipeline, net marketing services and other	274,646
Total operating revenues	$	257,883
Net loss (a)	$	(136,946)
Less: Net income attributable to noncontrolling interests	12,879
Net loss attributable to EQT Corporation	$	(149,825)

(a)Net loss includes $280.6 million of transaction costs related to the Equitrans Midstream Merger.

Such unaudited pro forma information is provided for informational purposes only and does not represent what consolidated results of operations would have been had the Equitrans Midstream Merger occurred on January 1, 2023 nor are they indicative of future consolidated results of operations.

	Years Ended December 31,
	2024		2023
	(Thousands, except per share amounts)
Pro forma operating revenues:
Pro forma sales of natural gas, NGLs and oil	$	4,934,366	$	5,044,768
Pro forma gain on derivatives	17,685		1,887,016
Pro forma pipeline, net marketing services and other	621,214		616,245
Pro forma total operating revenues	$	5,573,265	$	7,548,029
Pro forma net income (a)	$	489,503	$	2,439,515
Less: Pro forma net income attributable to noncontrolling interests	28,303		30,037
Pro forma net income attributable to EQT Corporation	$	461,200	$	2,409,478
Pro forma income per share of common stock attributable to EQT Corporation:
Pro forma net income attributable to EQT Corporation – Basic	$	0.78	$	4.52
Pro forma net income attributable to EQT Corporation – Diluted	$	0.77	$	4.27

(a)Pro forma net income for the year ended December 31, 2024 includes $304.8 million of transaction costs related to the Equitrans Midstream Merger.