Cash Flow Banner
curve-top
v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows provided by (used in) operating activities:    
Net income $ 243,449 $ 252,991
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 98,181 80,956
Accretion of asset retirement obligations 178 347
Impairment 3,702 1,582
Deferred income tax expense 84,798 88,547
Equity-based compensation 14,026 10,326
Equity in earnings of unconsolidated affiliates (70,467) (66,347)
Distributions from unconsolidated affiliates 90,470 87,115
Amortization of customer relationships 53,004 53,004
Amortization of deferred financing costs 4,268 4,152
Settlement of asset retirement obligations (1,395) (814)
Loss on settlement of asset retirement obligations 539  
Loss (gain) on asset sale (2,242) 3,628
Loss on early extinguishment of debt   20,701
Changes in assets and liabilities:    
Accounts receivable-Antero Resources 5,596 (11,429)
Accounts receivable-third party (822) 594
Income tax receivable   16,311
Other current assets 242 810
Accounts payable-Antero Resources (2,006) (705)
Accounts payable-third party 12,228 11,058
Accrued liabilities (2,773) (7,337)
Net cash provided by operating activities 530,976 545,490
Cash flows provided by (used in) investing activities:    
Investments in unconsolidated affiliates   (2,070)
Return of investment in unconsolidated affiliate 17,000  
Cash received in asset sale 4,026 1,653
Change in other assets (24)  
Change in other liabilities (804)  
Net cash used in investing activities (215,956) (157,365)
Cash flows provided by (used in) financing activities:    
Dividends to stockholders (325,120) (363,712)
Dividends to preferred stockholders (413) (413)
Issuance of senior notes   750,000
Redemption of senior notes   (667,472)
Payments of deferred financing costs (302) (9,449)
Borrowings (repayments) on bank credit facilities, net 17,600 (92,800)
Employee tax withholding for settlement of equity compensation awards (6,785) (4,885)
Other   (34)
Net cash used in financing activities (315,020) (388,765)
Net decrease in cash and cash equivalents   (640)
Cash and cash equivalents, beginning of period   640
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 130,236 132,360
Cash received during the period for income taxes   16,913
Increase in accrued capital expenditures and accounts payable for property and equipment (17,130) 22,675
Gathering systems and facilities    
Cash flows provided by (used in) investing activities:    
Additions (190,407) (120,727)
Water handling systems    
Cash flows provided by (used in) investing activities:    
Additions $ (45,747) $ (36,221)

Source