v3.23.2
Condensed Consolidated Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows provided by (used in) operating activities:        
Net income $ 87,012 $ 79,395 $ 173,519 $ 159,435
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation 35,233 35,675 70,429 63,975
Accretion of asset retirement obligations 44 64 88 128
Impairment of property and equipment       3,702
Deferred income tax expense     60,765 54,466
Equity-based compensation 8,499 5,641 14,826 8,473
Equity in earnings of unconsolidated affiliates (25,972) (22,824) (50,428) (46,056)
Distributions from unconsolidated affiliates     63,570 60,505
Amortization of customer relationships 17,668 17,668 35,336 35,336
Amortization of deferred financing costs     2,957 2,828
Settlement of asset retirement obligations     (695) (916)
Loss on settlement of asset retirement obligations 279 539 620 539
Loss (gain) on asset sale 5,814 (32) 5,569 (150)
Changes in assets and liabilities:        
Accounts receivable-Antero Resources     (5,470) 6,099
Accounts receivable-third party     481 517
Other current assets     (800) 158
Accounts payable-Antero Resources     (2,515) (2,427)
Accounts payable-third party     (889) 9,480
Accrued liabilities     942 (1,911)
Net cash provided by operating activities     368,305 354,181
Cash flows provided by (used in) investing activities:        
Investments in unconsolidated affiliates     (262)  
Acquisition of gathering systems and facilities     (266)  
Cash received in asset sale     1,071 147
Change in other assets     (15)  
Change in other liabilities       (805)
Net cash used in investing activities     (84,211) (162,692)
Cash flows provided by (used in) financing activities:        
Dividends to common stockholders     (218,971) (217,445)
Dividends to preferred stockholders     (275) (275)
Payments of deferred financing costs       (302)
Borrowings (repayments) on bank credit facilities, net     (56,500) 33,300
Employee tax withholding for settlement of equity compensation awards     (8,348) (6,767)
Net cash used in financing activities     (284,094) (191,489)
Net increase in cash and cash equivalents    
Cash and cash equivalents, beginning of period    
Cash and cash equivalents, end of period
Supplemental disclosure of cash flow information:        
Cash paid during the period for interest     107,607 86,688
Increase (decrease) in accrued capital expenditures and accounts payable for property and equipment     (2,814) 2,822
Gathering systems and facilities        
Cash flows provided by (used in) investing activities:        
Additions     (59,156) (131,665)
Water handling systems        
Cash flows provided by (used in) investing activities:        
Additions     $ (25,583) $ (30,369)

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