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STATEMENTS OF CONDENSED CONSOLIDATED EQUITY (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interest in Consolidated Subsidiaries
Beginning balance (in shares) at Dec. 31, 2023   419,896      
Beginning balance at Dec. 31, 2023 $ 14,780,817 $ 12,093,986 $ 2,681,898 $ (2,684) [1] $ 7,617
Comprehensive income (loss), net of tax          
Net income (loss) 112,302   113,005   (703)
Other post-retirement benefits liability adjustment, net of tax 86     86 [1]  
Dividends (138,963)   (138,963)    
Share-based compensation plans (in shares)   1,709      
Share-based compensation plans (8,392) $ (8,392)      
Convertible Notes settlements (Note 7) (in shares)   19,992      
Convertible Notes settlements (Note 7) 285,608 $ 285,608      
Net settlement of Capped Call Transactions (Note 7) 93,290 $ 93,290      
Ending balance (in shares) at Jun. 30, 2024   441,597      
Ending balance at Jun. 30, 2024 15,124,748 $ 12,464,492 2,655,940 (2,598) [1] 6,914
Beginning balance (in shares) at Mar. 31, 2024   441,558      
Beginning balance at Mar. 31, 2024 15,171,401 $ 12,450,876 2,715,974 (2,641) [2] 7,192
Comprehensive income (loss), net of tax          
Net income (loss) 9,239   9,517   (278)
Other post-retirement benefits liability adjustment, net of tax 43     43 [2]  
Dividends (69,551)   (69,551)    
Share-based compensation plans (in shares)   39      
Share-based compensation plans 13,616 $ 13,616      
Ending balance (in shares) at Jun. 30, 2024   441,597      
Ending balance at Jun. 30, 2024 15,124,748 $ 12,464,492 2,655,940 (2,598) [1] 6,914
Beginning balance (in shares) at Dec. 31, 2024   596,870      
Beginning balance at Dec. 31, 2024 24,278,136 $ 18,014,711 2,585,238 (2,321) [1] 3,680,508
Comprehensive income (loss), net of tax          
Net income (loss) 1,172,074   1,026,286   145,788
Other post-retirement benefits liability adjustment, net of tax 91     91 [1]  
Dividends (185,792)   (185,792)    
Share-based compensation plans (in shares)   1,942      
Share-based compensation plans (15,328) $ (15,328)      
Convertible Notes settlements (Note 7) 0        
Equitrans Midstream Merger (Note 11) 248       248
Change in ownership of consolidated subsidiary 375 $ 375      
Distribution to noncontrolling interest (151,954)       (151,954)
Ending balance (in shares) at Jun. 30, 2025   598,812      
Ending balance at Jun. 30, 2025 25,097,850 $ 17,999,758 3,425,732 (2,230) [1] 3,674,590
Beginning balance (in shares) at Mar. 31, 2025   598,586      
Beginning balance at Mar. 31, 2025 24,403,269 $ 17,984,118 2,736,046 (2,284) [2] 3,685,389
Comprehensive income (loss), net of tax          
Net income (loss) 856,656   784,147   72,509
Other post-retirement benefits liability adjustment, net of tax 54     54 [2]  
Dividends (94,461)   (94,461)    
Share-based compensation plans (in shares)   226      
Share-based compensation plans 15,640 $ 15,640      
Distribution to noncontrolling interest (83,308)       (83,308)
Ending balance (in shares) at Jun. 30, 2025   598,812      
Ending balance at Jun. 30, 2025 $ 25,097,850 $ 17,999,758 $ 3,425,732 $ (2,230) [1] $ 3,674,590
[1] Amounts included in accumulated other comprehensive loss are related to other postretirement benefits liability adjustments, net of tax, which are attributable to net actuarial losses and net prior service costs.
[2] Amounts included in accumulated other comprehensive loss are related to other postretirement benefits liability adjustments, net of tax, which are attributable to net actuarial losses and net prior service costs.