Name: EQT Corp. (NYSE:EQT) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

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EQT Corp., consolidated statement of comprehensive income

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)
Natural gas, net of tax	—)	—)	—)	(4,625)	(4,982)
Interest rate, net of tax	—)	—)	387)	168)	144)
Net change in cash flow hedges	—)	—)	387)	(4,457)	(4,838)
Other postretirement benefits liability adjustment, net of tax	744)	(156)	316)	606)	338)
Change in accounting principle	—)	—)	(496)	—)	—)
Other comprehensive income (loss), net of tax	744)	(156)	207)	(3,851)	(4,500)
Comprehensive income (loss)	(1,153,769)	(967,332)	(1,221,488)	(2,011,009)	1,853,642)
Comprehensive (income) loss attributable to noncontrolling interest	(1,246)	10)	—)	(237,410)	(349,613)
Comprehensive income (loss) attributable to EQT Corporation	(1,155,015)	(967,322)	(1,221,488)	(2,248,419)	1,504,029)

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).

A significant reversal in profitability is evident between 2017 and 2021, as the company transitioned from a substantial net income to a period of sustained annual losses. After reporting a positive net income of approximately 1.86 billion USD in 2017, the company entered a four-year trend of net losses, peaking in 2018 at approximately 2.01 billion USD and remaining negative through 2021.

Net Income and Comprehensive Loss Trends: The financial trajectory is characterized by a sharp decline starting in 2018. While there was a slight recovery trend from 2018 to 2020, where losses narrowed from 2.01 billion USD to 967 million USD, the trend reversed again in 2021 with losses widening to 1.15 billion USD. Comprehensive income closely mirrors net income, indicating that other comprehensive income components have a minimal impact on the overall financial result.
Other Comprehensive Income (OCI) Components: The components of other comprehensive income, including cash flow hedges and postretirement benefits liability adjustments, remain immaterial relative to the scale of net losses. Cash flow hedges and natural gas adjustments contributed negative values in 2017 and 2018, while postretirement benefit adjustments fluctuated modestly, ending with a positive adjustment of 744 thousand USD in 2021.
Attributable Income and Noncontrolling Interests: In 2017 and 2018, noncontrolling interests absorbed a portion of the comprehensive results, with negative attributions of 350 million USD and 237 million USD respectively. From 2019 onward, the impact of noncontrolling interests became negligible, resulting in the vast majority of comprehensive losses being attributed directly to EQT Corporation. This concentration is most evident in 2021, where the comprehensive loss attributable to the corporation reached 1.16 billion USD.

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