Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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EQT Corp., consolidated balance sheet: assets

US$ in thousands

		Dec 31, 2021		Dec 31, 2020		Dec 31, 2019		Dec 31, 2018		Dec 31, 2017
	Cash and cash equivalents
	Accounts receivable, less provision for doubtful accounts
	Derivative instruments, at fair value
	Income tax receivable
	Margin requirements with counterparties
	Prepaid expenses and other current assets
	Prepaid expenses and other
	Current assets of discontinued operations
	Current assets
	Net property, plant and equipment
	Contract asset
	Intangible assets, net
	Goodwill
	Other assets
	Noncurrent assets of discontinued operations
	Noncurrent assets
	Total assets

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).

The financial data reveals several notable trends over the analyzed periods. Total assets show a decline from December 2017 to December 2020, dropping from approximately $29.5 billion to $18.1 billion, before rising again to about $21.6 billion in 2021. This pattern suggests fluctuations in asset holdings, possibly due to changes in operational scale or asset disposals.

Cash and Cash Equivalents: Cash levels were relatively low and fluctuated between 2017 and 2020, with the lowest point in 2018 at about $3.5 million. A significant increase occurred in 2021, reaching nearly $114 million, indicating improved liquidity or cash inflows in that year.
Accounts Receivable: Accounts receivable showed volatility with a substantial peak in 2018 at over $1.24 billion, followed by a reduction in the next two years, and another surge in 2021 to approximately $1.44 billion. This fluctuation could reflect changes in sales volumes or payment collection efficiency.
Derivative Instruments: The value of derivative instruments increased substantially from around $242 million in 2017 to over $812 million in 2019, then declined again in 2020 and remained relatively stable in 2021. This indicates active financial risk management with varying exposure and valuation of derivatives over the period.
Income Tax Receivable: Income tax receivables rose sharply from about $14 million in 2017 to nearly $299 million in 2019 but then data is missing for 2020 and 2021, preventing further trend analysis.
Margin Requirements with Counterparties: This category appears only from 2019 onward, starting at approximately $12.6 million and increasing significantly to $147.8 million by 2021, which may highlight increasing collateral requirements tied to trading or derivative activities.
Prepaid Expenses and Other Assets: Current prepaid expenses displayed a sharp decline in 2019 before progressively increasing through 2021. The broader prepaid expenses category, including other prepaid items, showed an increasing trend from 2019 to 2021, possibly correlating with greater upfront payments or service contracts.
Current Assets: Current assets peaked in 2018 at nearly $2 billion, then declined substantially over the next two years, before almost doubling again in 2021 to approximately $2.29 billion. This trend reflects the movements in cash, receivables, and other liquid or short-term assets.
Net Property, Plant, and Equipment (PP&E): There was a consistent decrease in net PP&E from 2017 through 2020, falling by roughly 19% over four years, followed by an increase in 2021. This might suggest asset dispositions or depreciation dominating earlier periods with some reinvestment or asset appreciation occurring later.
Contract Asset: The contract asset emerged only in 2020 and remained constant at $410 million through 2021, indicating new or ongoing contract-related receivables starting from 2020.
Intangible Assets and Goodwill: Intangible assets decreased from around $119 million in 2017 to roughly $26 million in 2019, with no data for later years. Goodwill was reported only in 2017 at $471 million, with no subsequent data, suggesting possible write-offs, disposals, or reclassifications.
Other Assets: Other assets peaked sharply in 2018 at over $1.28 billion, followed by a decline through 2020 and a slight increase in 2021, indicating changes in miscellaneous or long-term assets.
Noncurrent Assets: Noncurrent assets fell significantly from approximately $28.4 billion in 2017 to $16.9 billion in 2020, then recovered somewhat in 2021. This aligns with the trends seen in PP&E and other long-term asset categories.

Overall, the data exhibits fluctuations in asset composition, with a marked restructuring or disposal of noncurrent and intangible assets during the period. Liquidity showed improvement by 2021. The increases in derivative instruments and margin requirements suggest elevated risk management activity and potential market exposure towards the later years. Missing data in some categories limit full longitudinal analysis but the available figures indicate a dynamic asset management strategy throughout the analyzed timeframe.

Assets: Selected Items

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Current Assets: Selected Items