Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows provided by operating activities:      
Net income $ 307,315 $ 236,703 $ 159,105
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation 119,562 99,861 86,670
Accretion of contingent acquisition consideration 13,476 16,489 3,333
Impairment of property and equipment 23,431    
Equity-based compensation 27,283 26,049 22,470
Equity in earnings of unconsolidated affiliates (20,194) (485)  
Distributions from unconsolidated affiliates 20,195 7,702  
Amortization of deferred financing costs 2,888 1,814 1,144
Gain on sale of assets   (3,859)  
Changes in assets and liabilities:      
Accounts receivable – Antero Resources (41,043) 1,573 (35,148)
Accounts receivable - third party 70 1,467 2,867
Prepaid expenses (141) (529) 518
Accounts payable - third party 3,003 95 2,803
Accounts payable – Antero Resources 3,266 1,055 475
Accrued liabilities 16,685 (9,328) 15,441
Net cash provided by operating activities 475,796 378,607 259,678
Cash flows used in investing activities:      
Additions to gathering systems and facilities (346,217) (228,100) (320,002)
Additions to water handling and treatment systems (195,162) (188,220) (132,633)
Investments in unconsolidated affiliates (235,004) (75,516)  
Proceeds from sale of assets   10,000  
Change in other assets (3,435) 3,673 7,180
Net cash used in investing activities (779,818) (478,163) (445,455)
Cash flows provided by (used in) financing activities:      
Deemed distribution to Antero Resources, net     (52,669)
Distributions to Antero Resources     (620,997)
Distributions to unitholders (283,950) (182,446) (107,248)
Issuance of senior notes   650,000  
Borrowings (repayments) on bank credit facilities, net 345,000 (410,000) 505,000
Issuance of common units, net of offering costs 248,956 65,395 240,703
Payments of deferred financing costs (5,520) (10,435) (2,059)
Employee tax withholding for settlement of equity compensation awards (5,945) (5,636)  
Other (198) (163) (262)
Net cash provided by (used in) financing activities 298,343 106,715 (37,532)
Net increase (decrease) in cash and cash equivalents (5,679) 7,159 (223,309)
Cash and cash equivalents, beginning of period 14,042 6,883 230,192
Cash and cash equivalents, end of period 8,363 14,042 6,883
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 46,666 13,494 7,765
Supplemental disclosure of noncash investing activities:      
Increase (decrease) in accrued capital expenditures and accounts payable for property and equipment $ 16,338 $ (8,471) $ 4,552