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v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
2 Months Ended 3 Months Ended 6 Months Ended 10 Months Ended 12 Months Ended
Mar. 12, 2019
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Dec. 31, 2019
Cash flows provided by (used in) operating activities:                  
Net income (loss)   $ 88,441 $ (392,933) $ 69,274   $ (304,492) $ 78,922    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                  
Distributions received from Antero Midstream Partners LP, prior to the Transactions $ 43,492           43,492    
Depreciation           55,088 44,097    
Payment of contingent consideration in excess of acquisition date fair value           (34,342)      
Accretion and change in fair value of contingent acquisition consideration           103 3,425    
Impairment           664,544 594    
Deferred income tax benefit           (56,408) 28,042    
Equity-based compensation     2,697   $ 21,543 6,035 32,966    
Equity in earnings of unconsolidated affiliates   (20,947)   (13,623)   (40,024) (16,503) $ (51,315)  
Distributions from unconsolidated affiliates           41,828 23,860 64,320  
Amortization of customer relationships   17,606   8,534   35,211 10,315    
Amortization of deferred financing costs           2,190 1,102    
Settlement of asset retirement obligations           (601)      
Loss on asset sale   240       240      
Changes in assets and liabilities:                  
Accounts receivable-Antero Resources           24,941 38,414    
Accounts receivable-third party           1,089 9    
Income tax receivable           (17,547)      
Other current assets           930 (1,867)    
Accounts payable-Antero Resources           (432) 973    
Accounts payable-third party           5,495 (4,629)    
Income taxes payable             (15,370)    
Accrued liabilities           (21,701) (15,678)    
Net cash provided by operating activities           362,147 252,164    
Cash flows provided by (used in) investing activities:                  
Additions to gathering systems and facilities           (103,937) (89,206)    
Additions to water handling systems           (19,477) (51,984)    
Investments in unconsolidated affiliates           (21,988) (103,409)    
Cash received on acquisition of Antero Midstream Partners LP             619,532    
Cash consideration paid to Antero Midstream Partners LP unitholders             (598,709)    
Cash received in asset sale           123      
Change in other assets           1,938 2,375    
Net cash used in investing activities           (143,341) (221,401)    
Cash flows provided by (used in) financing activities:                  
Distributions to unitholders and dividends to stockholders           (296,395) (182,625)    
Distributions to Series B unitholders             (3,720)    
Distributions to preferred shareholders           (275) (98)    
Repurchases of common stock           (24,713)      
Issuance of senior notes             650,000    
Payments of deferred financing costs             (6,952)    
Borrowings (repayments) on bank credit facilities, net           195,500 (480,500)    
Payment for contingent acquisition consideration           (90,658)      
Employee tax withholding for settlement of equity compensation awards           (392) (1,828)    
Other           (111) (71)    
Net cash used in financing activities           (217,044) (25,794)    
Net increase in cash and cash equivalents           1,762 4,969    
Cash and cash equivalents, beginning of period $ 2,822   $ 1,235   $ 2,822 1,235 2,822   $ 2,822
Cash and cash equivalents, end of period   $ 2,997   $ 7,791   2,997 7,791 $ 1,235 $ 1,235
Supplemental disclosure of cash flow information:                  
Cash paid during the period for interest           74,665 31,147    
Cash refund received (paid) during the period for income taxes           38,910 (16,001)    
Increase (decrease) in accrued capital expenditures and accounts payable for property and equipment           $ (3,461) $ 9,447    

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