Stock Analysis on Net
Stock Analysis on Net

EQT Corp. (NYSE:EQT)

This company has been moved to the archive! The financial data has not been updated since October 27, 2022.

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

EQT Corp., balance sheet: property, plant and equipment

US$ in thousands

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Oil and gas producing properties 25,523,854 21,771,025 21,316,834 21,814,779 23,937,154
Other properties 492,238 224,224 338,517 333,233 1,458,872
Property, plant and equipment, at cost 26,016,092 21,995,249 21,655,351 22,148,012 25,396,026
Accumulated depreciation and depletion (7,597,172) (5,940,984) (5,499,861) (4,755,505) (5,666,018)
Net property, plant and equipment 18,418,920 16,054,265 16,155,490 17,392,507 19,730,008

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Item Description The company
Property, plant and equipment, at cost Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. EQT Corp. property, plant and equipment, at cost increased from 2019 to 2020 and from 2020 to 2021.
Net property, plant and equipment Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. EQT Corp. net property, plant and equipment decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Asset Age Ratios (Summary)

EQT Corp., asset age ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Average age ratio 29.20% 27.01% 25.40% 21.47% 22.31%
Estimated total useful life (years) 16 16 14 14 26
Estimated age, time elapsed since purchase (years) 5 4 4 3 6
Estimated remaining life (years) 11 12 10 11 20

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. EQT Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. EQT Corp. estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. EQT Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.
Estimated remaining life EQT Corp. estimated remaining life of depreciable property, plant and equipment increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.

Average Age

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Accumulated depreciation and depletion 7,597,172 5,940,984 5,499,861 4,755,505 5,666,018
Property, plant and equipment, at cost 26,016,092 21,995,249 21,655,351 22,148,012 25,396,026
Asset Age Ratio
Average age1 29.20% 27.01% 25.40% 21.47% 22.31%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Average age = 100 × Accumulated depreciation and depletion ÷ Property, plant and equipment, at cost
= 100 × 7,597,172 ÷ 26,016,092 = 29.20%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. EQT Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.

Estimated Total Useful Life

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Property, plant and equipment, at cost 26,016,092 21,995,249 21,655,351 22,148,012 25,396,026
Depreciation and depletion 1,676,702 1,393,465 1,538,745 1,569,038 970,985
Asset Age Ratio (Years)
Estimated total useful life1 16 16 14 14 26

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Estimated total useful life = Property, plant and equipment, at cost ÷ Depreciation and depletion
= 26,016,092 ÷ 1,676,702 = 16

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. EQT Corp. estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Accumulated depreciation and depletion 7,597,172 5,940,984 5,499,861 4,755,505 5,666,018
Depreciation and depletion 1,676,702 1,393,465 1,538,745 1,569,038 970,985
Asset Age Ratio (Years)
Time elapsed since purchase1 5 4 4 3 6

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Time elapsed since purchase = Accumulated depreciation and depletion ÷ Depreciation and depletion
= 7,597,172 ÷ 1,676,702 = 5

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. EQT Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.

Estimated Remaining Life

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Net property, plant and equipment 18,418,920 16,054,265 16,155,490 17,392,507 19,730,008
Depreciation and depletion 1,676,702 1,393,465 1,538,745 1,569,038 970,985
Asset Age Ratio (Years)
Estimated remaining life1 11 12 10 11 20

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Estimated remaining life = Net property, plant and equipment ÷ Depreciation and depletion
= 18,418,920 ÷ 1,676,702 = 11

Asset age ratio Description The company
Estimated remaining life EQT Corp. estimated remaining life of depreciable property, plant and equipment increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.