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, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows provided by operating activities:      
Net income $ 236,703 $ 159,105 $ 127,875
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation 99,861 86,670 53,029
Accretion of contingent acquisition consideration 16,489 3,333  
Equity-based compensation 26,049 22,470 11,618
Equity in earnings of unconsolidated affiliates (485)    
Distribution of earnings from unconsolidated affiliates 7,702    
Amortization of deferred financing costs 1,814 1,144 135
Gain on sale of assets (3,859)    
Changes in assets and liabilities:      
Accounts receivable – Antero Resources 1,573 (35,148) (29,988)
Accounts receivable - third party 1,467 2,867 (5,574)
Prepaid expenses (529) 518 (518)
Accounts payable 95 2,803 863
Accounts payable – Antero Resources 1,055 475 1,059
Accrued liabilities (9,328) 15,441 10,934
Net cash provided by operating activities 378,607 259,678 169,433
Cash flows used in investing activities:      
Additions to gathering and compression systems (228,100) (320,002) (553,582)
Additions to water handling and treatment systems (188,220) (132,633) (200,116)
Amounts paid to Antero Resources for gathering and processing systems     (40,277)
Investment in unconsolidated affiliates (75,516)    
Proceeds from sale of assets 10,000    
Change in other assets 3,673 7,180 (3,530)
Net cash used in investing activities (478,163) (445,455) (797,505)
Cash flows provided by (used in) financing activities:      
Deemed distribution to Antero Resources, net   (52,669) (5,375)
Distribution to Antero   (620,997) (332,500)
Distribution to unitholders (182,446) (107,248)  
Issuance of senior notes 650,000    
Borrowings (repayments) on bank credit facilities, net (410,000) 505,000 115,000
Issuance of common units, net of offering costs 65,395 240,703 1,087,224
Payments of deferred financing costs (10,435) (2,059) (4,871)
Employee tax withholding for settlement of equity compensation awards (5,636)    
Other (163) (262) (1,214)
Net cash provided by (used in) financing activities 106,715 (37,532) 858,264
Net increase (decrease) in cash and cash equivalents 7,159 (223,309) 230,192
Cash and cash equivalents, beginning of period 6,883 230,192 6,883
Cash and cash equivalents, end of period 14,042 6,883 230,192
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 13,494 7,765 5,864
Supplemental disclosure of noncash investing activities:      
Increase (decrease) in accrued capital expenditures and accounts payable for property and equipment $ (8,471) $ 4,552 $ 37,596