Name: EQT Corp. (NYSE:EQT) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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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	113,963)	18,210)	4,596)	3,487)	26,311)
Accounts receivable, less provision for doubtful accounts	1,438,031)	566,552)	610,088)	1,241,843)	664,685)
Derivative instruments, at fair value	543,337)	527,073)	812,664)	481,654)	241,952)
Income tax receivable	—)	—)	298,854)	131,573)	14,385)
Margin requirements with counterparties	147,773)	82,552)	12,606)	—)	—)
Prepaid expenses and other current assets	43,662)	21,063)	16,047)	111,107)	59,462)
Prepaid expenses and other	191,435)	103,615)	28,653)	111,107)	59,462)
Current assets of discontinued operations	—)	—)	—)	—)	156,260)
Current assets	2,286,766)	1,215,450)	1,754,855)	1,969,664)	1,163,055)
Net property, plant and equipment	18,418,920)	16,054,265)	16,155,490)	17,392,507)	19,730,008)
Contract asset	410,000)	410,000)	—)	—)	—)
Intangible assets, net	—)	—)	26,006)	77,333)	118,700)
Goodwill	—)	—)	—)	—)	470,849)
Other assets	491,702)	433,754)	872,876)	1,281,840)	250,734)
Noncurrent assets of discontinued operations	—)	—)	—)	—)	7,789,258)
Noncurrent assets	19,320,622)	16,898,019)	17,054,372)	18,751,680)	28,359,549)
Total assets	21,607,388)	18,113,469)	18,809,227)	20,721,344)	29,522,604)

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).

Total assets experienced a significant contraction between 2017 and 2020, decreasing from US$ 29.5 billion to US$ 18.1 billion. This decline is primarily attributed to the removal of assets associated with discontinued operations, which totaled approximately US$ 7.9 billion in 2017 and were absent in subsequent periods. A reversal of this trend occurred in 2021, with total assets rising to US$ 21.6 billion, driven by growth in both current and noncurrent asset categories.

Liquidity and Current Asset Trends: Current assets exhibited high volatility, reaching a five-year peak of US$ 2.29 billion in 2021. Cash and cash equivalents remained relatively low between 2018 and 2020, but saw a substantial increase to US$ 113.96 million in 2021, representing a significant improvement in immediate liquidity. Accounts receivable demonstrated fluctuating patterns, spiking to US$ 1.24 billion in 2018 and reaching a period high of US$ 1.44 billion in 2021.
Fixed Asset and Capital Investment: Net property, plant, and equipment showed a consistent downward trend from 2017 to 2020, falling from US$ 19.73 billion to US$ 16.05 billion. This suggests a period of depreciation exceeding new capital expenditures. However, 2021 marked a return to growth, with net property, plant, and equipment increasing to US$ 18.42 billion, indicating renewed investment in productive assets.
Intangible Assets and Goodwill: A complete phase-out of goodwill and intangible assets is observed. Goodwill, which stood at US$ 470.85 million in 2017, was eliminated by 2018. Similarly, intangible assets decreased steadily from US$ 118.70 million in 2017 to zero by 2020, suggesting asset impairments or full amortization over the period.
Financial Instruments and Other Assets: Derivative instruments at fair value grew from US$ 241.95 million in 2017 to a peak of US$ 812.66 million in 2019 before stabilizing around US$ 543 million by 2021. Additionally, margin requirements with counterparties emerged as a new asset line item in 2019 and grew consistently to US$ 147.77 million by 2021, reflecting increased hedging activity or changes in counterparty agreements.

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