Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows provided by (used in) operating activities:      
Net income (loss) $ (122,527) $ (355,114) $ 66,608
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Distributions from Antero Midstream Partners LP, prior to the Transactions   43,492 123,186
Depreciation 108,790 95,526  
Payment of contingent consideration in excess of acquisition date fair value (8,076)    
Accretion and change in fair value of contingent acquisition consideration 180 8,263  
Impairment 673,640 761,960  
Deferred income taxes (171) (101,927) (1,304)
Equity-based compensation 12,778 73,517 35,111
Equity in earnings of unconsolidated affiliates (86,430) (51,315) (142,906)
Distributions from unconsolidated affiliates 98,858 64,320  
Amortization of customer relationships 70,672 57,010  
Amortization of deferred financing costs 4,503 3,183 148
Settlement of asset retirement obligations (2,183)    
Loss on asset sale 2,929    
Changes in assets and liabilities:      
Accounts receivable-Antero Resources 27,306 42,484  
Accounts receivable-third party 1,434 185  
Income tax receivable (17,251)    
Other current assets 155 (335) (5)
Accounts payable-Antero Resources 716 (2,103) 674
Accounts payable-third party 1,201 (9,762) 28
Income taxes payable   (15,678) 1,820
Accrued liabilities (13,142) 8,681 171
Net cash provided by operating activities 753,382 622,387 83,531
Cash flows provided by (used in) investing activities:      
Additions to gathering systems and facilities (157,931) (267,383)  
Additions to water handling systems (38,793) (124,607)  
Investments in unconsolidated affiliates (25,267) (154,359)  
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 822    
Change in other assets 1,938 901  
Change in other liabilities   (1,050)  
Net cash used in investing activities (219,231) (525,675)  
Cash flows provided by (used in) financing activities:      
Distributions to unitholders and dividends to stockholders (589,640) (492,103) (84,166)
Distributions to Series B unitholders   (3,720) (2,300)
Distributions to preferred stockholders (550) (374)  
Repurchases of common stock (24,713) (125,519)  
Issuance of senior notes 550,000 650,000  
Payments of deferred financing costs (6,283) (8,894) (230)
Repayments on bank credit facilities, net (346,000) (115,500)  
Payment of contingent acquisition consideration (116,924)    
Employee tax withholding for settlement of equity compensation awards (476) (2,015)  
Other (160) (174)  
Net cash used in financing activities (534,746) (98,299) (86,696)
Net decrease in cash and cash equivalents (595) (1,587) (3,165)
Cash and cash equivalents, beginning of period 1,235 2,822 5,987
Cash and cash equivalents, end of period 640 1,235 2,822
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 140,732 83,016 3
Cash received (paid) during the period for income taxes 39,205 (16,079) $ (31,795)
Decrease in accrued capital expenditures and accounts payable for property and equipment $ (14,472) $ (6,215)