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v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
2 Months Ended 3 Months Ended 9 Months Ended 10 Months Ended 12 Months Ended
Mar. 12, 2019
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2019
Cash flows provided by (used in) operating activities:              
Net income (loss)   $ 105,507 $ (392,933) $ (198,985) $ (210,555)    
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       81,889 68,557    
Payment of contingent consideration in excess of acquisition date fair value       (8,076)      
Accretion and change in fair value of contingent acquisition consideration       142 5,456    
Impairment       665,491 458,072    
Deferred income tax benefit       (21,425) (34,226)    
Equity-based compensation   3,678   9,713 53,095    
Equity in earnings of unconsolidated affiliates   (23,173)   (63,197) (34,981) $ (51,315)  
Distributions from unconsolidated affiliates       69,313 42,570 64,320  
Amortization of customer relationships   17,800   53,011 39,178    
Amortization of deferred financing costs       3,299 2,123    
Settlement of asset retirement obligations       (1,517)      
Loss on asset sale       240      
Changes in assets and liabilities:              
Accounts receivable-Antero Resources       17,081 38,331    
Accounts receivable-third party       1,139 12    
Income tax receivable       (17,547)      
Other current assets       1,036 (1,788)    
Accounts payable-Antero Resources       (717) (503)    
Accounts payable-third party       6,239 (3,635)    
Income taxes payable         (15,678)    
Accrued liabilities       (50,240) (19,648)    
Net cash provided by operating activities       546,889 429,872    
Cash flows provided by (used in) investing activities:              
Additions to gathering systems and facilities       (137,978) (170,921)    
Additions to water handling systems       (27,287) (91,144)    
Investments in unconsolidated affiliates       (24,802) (117,339)    
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 3,338    
Change in other liabilities         (1,050)    
Net cash used in investing activities       (188,006) (356,293)    
Cash flows provided by (used in) financing activities:              
Distributions to unitholders and dividends to stockholders       (443,059) (336,772)    
Distributions to Series B unitholders         (3,720)    
Distributions to preferred shareholders       (413) (235)    
Repurchases of common stock       (24,713) (25,519)    
Issuance of senior notes         650,000    
Payments of deferred financing costs         (8,523)    
Borrowings (repayments) on bank credit facilities, net       228,000 (349,500)    
Payment for contingent acquisition consideration       (116,924)      
Employee tax withholding for settlement of equity compensation awards       (466) (2,008)    
Other       (150) (124)    
Net cash used in financing activities       (357,725) (76,401)    
Net increase in cash and cash equivalents       1,158 (2,822)    
Cash and cash equivalents, beginning of period $ 2,822   $ 1,235 1,235 2,822   $ 2,822
Cash and cash equivalents, end of period   $ 2,393   2,393   $ 1,235 $ 1,235
Supplemental disclosure of cash flow information:              
Cash paid during the period for interest       135,426 75,071    
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       $ (11,318) $ 34,667    

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