Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

EQT Corp., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income (loss)	(1,154,513)	(967,176)	(1,221,695)	(2,007,158)	1,858,142)
Deferred income tax benefit	(433,608)	(155,840)	(275,063)	(510,405)	(1,050,612)
Depreciation and depletion	1,676,702)	1,393,465)	1,538,745)	1,729,739)	1,077,559)
Amortization of intangible assets	—)	26,006)	35,916)	77,374)	10,940)
(Gain)/loss/impairment on sale/exchange of long-lived assets and impairment and expiration of leases	290,711)	442,111)	1,710,122)	2,989,684)	20,327)
Gain on Equitrans Share Exchange	—)	(187,223)	—)	—)	—)
Impairment of goodwill	—)	—)	—)	798,689)	—)
(Income) loss from investments	(71,841)	314,468)	336,993)	72,366)	—)
Loss on debt extinguishment	9,756)	25,435)	—)	—)	12,641)
Share-based compensation expense	28,169)	19,552)	31,233)	25,189)	94,592)
Amortization, accretion and other	66,236)	37,414)	23,296)	(33,039)	(25,934)
(Gain) loss on derivatives not designated as hedges	3,775,042)	(400,214)	(616,634)	178,591)	(390,021)
Cash settlements (paid) received on derivatives not designated as hedges	(2,091,003)	897,190)	246,639)	(225,279)	40,728)
Net premiums (paid) received on derivative instruments	(66,495)	(46,665)	22,616)	—)	—)
Accounts receivable	(699,992)	(36,296)	432,323)	(439,062)	(8,979)
Accounts payable	456,988)	(29,193)	(238,674)	457,113)	(16,680)
Income tax receivable and payable	(23,909)	322,763)	(167,281)	(117,188)	(12,285)
Other current assets	(75,100)	(68,628)	54,776)	(28,256)	—)
Other items, net	(24,695)	(49,468)	(61,608)	7,898)	27,280)
Changes in other assets and liabilities	(366,708)	139,178)	19,536)	(119,495)	(10,664)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	2,816,961)	2,504,877)	3,073,399)	4,983,414)	(220,444)
Net cash provided by operating activities	1,662,448)	1,537,701)	1,851,704)	2,976,256)	1,637,698)
Capital expenditures	(1,055,128)	(1,042,231)	(1,602,454)	(2,999,037)	(1,559,051)
Cash paid for acquisitions, net of cash acquired	(1,030,239)	(691,942)	—)	—)	(2,379,229)
Capital expenditures for discontinued operations	—)	—)	—)	(732,727)	(380,151)
Net sales of trading securities	—)	—)	—)	—)	283,758)
Exploratory dry hole costs	—)	—)	—)	—)	(11,420)
Capital contributions to Mountain Valley Pipeline, LLC	—)	—)	—)	(820,943)	(159,550)
Proceeds from sale of assets	2,452)	126,080)	—)	583,381)	3,573)
Proceeds from sale/exchange of investment shares	24,369)	52,323)	—)	—)	—)
Other investing activities	(14,196)	(30)	1,312)	(9,778)	—)
Net cash used in investing activities	(2,072,742)	(1,555,800)	(1,601,142)	(3,979,104)	(4,202,070)
Net proceeds from issuance of common stock	—)	340,923)	—)	—)	—)
Proceeds from credit facility borrowings	8,086,000)	3,118,250)	2,978,750)	8,637,500)	2,063,000)
Repayment of credit facility borrowings	(8,386,000)	(3,112,250)	(3,484,750)	(8,953,500)	(1,076,500)
Proceeds from issuance of debt	1,000,000)	2,600,000)	1,000,000)	2,500,000)	3,000,000)
Debt issuance costs and Capped Call Transactions	(19,713)	(71,056)	(913)	(40,966)	(41,876)
Repayment and retirement of debt	(154,336)	(2,822,262)	(704,661)	(8,376)	(2,000,000)
Premiums paid on debt extinguishment	(9,599)	(21,132)	—)	—)	(89,363)
Contributions from (distributions to) noncontrolling interest	7,500)	7,500)	—)	(380,651)	(236,123)
Dividends paid	—)	(7,664)	(30,655)	(31,375)	(20,827)
Proceeds and excess tax benefits from awards under employee compensation plans	—)	—)	—)	1,946)	244)
Cash paid for taxes related to net settlement of share-based incentive awards	(3,845)	(596)	(7,224)	(22,647)	(72,116)
Repurchase and retirement of common stock	(12,922)	—)	—)	(538,876)	—)
Repurchase of common stock	—)	—)	—)	(27)	(30)
Contribution to Strike Force Midstream LLC by minority owner, net of distribution	—)	—)	—)	—)	6,738)
Acquisition of 25% of Strike Force Midstream LLC	—)	—)	—)	(175,000)	—)
Net cash transferred at Separation and Distribution	—)	—)	—)	(129,008)	—)
Other financing activities	(1,038)	—)	—)	—)	—)
Net cash provided by (used in) financing activities	506,047)	31,713)	(249,453)	859,020)	1,533,147)
Net change in cash and cash equivalents	95,753)	13,614)	1,109)	(143,828)	(1,031,225)
Cash and cash equivalents at beginning of year	18,210)	4,596)	3,487)	147,315)	1,178,540)
Cash and cash equivalents at end of year	113,963)	18,210)	4,596)	3,487)	147,315)

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).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	EQT Corp. net cash provided by operating activities decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	EQT Corp. net cash used in investing activities increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	EQT Corp. net cash provided by (used in) financing activities increased from 2019 to 2020 and from 2020 to 2021.

EQT Corp. (NYSE:EQT)

Cash Flow Statement