Annual report pursuant to Section 13 and 15(d)

Combined Consolidated Statements of Cash Flows

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Combined Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows provided by operating activities:      
Net income $ 159,105 $ 127,875 $ 2,015
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation 86,670 53,029 14,119
Accretion of contingent acquisition consideration 3,333    
Equity-based compensation 22,470 11,618 24,349
Amortization of deferred financing costs 1,144 135  
Changes in assets and liabilities:      
Accounts receivable – Antero (35,148) (29,988) (6,267)
Accounts receivable - third party 2,867 (5,574)  
Prepaid expenses 518 (518)  
Accounts payable 2,803 863  
Accounts payable – Antero 475 1,059  
Accrued ad valorem tax 1,333 3,868 1,948
Accrued liabilities 14,108 7,066 2,081
Net cash provided by operating activities 259,678 169,433 38,245
Cash flows used in investing activities:      
Additions to gathering and compression systems (320,002) (553,582) (389,340)
Additions to Water handling and treatment systems (132,633) (200,116) (200,256)
Amounts paid to Antero for property and equipment   (40,277)  
Change in other assets 7,180 (3,530) (8,581)
Net cash used in investing activities (445,455) (797,505) (598,177)
Cash flows provided by (used in) financing activities:      
Deemed contribution from (distribution to) Antero, net (52,669) (5,375) 560,800
Distribution to unitholders (107,248)    
Net proceeds from initial public offering   1,087,224  
Borrowings on bank credit facilities, net 505,000 115,000  
Distribution to Antero (620,997) (332,500)  
Proceeds from private placement of common units, net 240,703    
Payments of deferred financing costs (2,059) (4,871)  
Other (262) (1,214) (868)
Net cash provided by (used in) financing activities (37,532) 858,264 559,932
Net increase (decrease) in cash and cash equivalents (223,309) 230,192  
Cash and cash equivalents, beginning of period 230,192   230,192
Cash and cash equivalents, end of period 6,883 230,192  
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest and commitment fees 7,765 5,864 164
Supplemental disclosure of noncash investing activities:      
Increase in accrued capital expenditures and accounts payable for property and equipment $ 4,552 $ 37,596 $ 29,852