ANTERO RESOURCES CORPORATION AR Cash Flow

Antero resources corporation (AR)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Cash flows provided by (used in) operating activities:
Net income (loss) including noncontrolling interests
-338,810	-482,196	-878,864	42,168	1,025,756	18,736	-77,972	-67,275	80,810	529,614	-90,000	39,965	305,558	-452,804	268,196	-575,490	10,650	175,574	544,734	-139,483	399,171	608,970	203,909	-42,285	-94,759	-223,020	120,894	131,193	-47,997
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion
200,781	191,802	242,430	243,220	241,177	263,703	243,897	238,750	228,934	214,397	207,626	201,831	203,366	222,443	199,741	197,982	192,180	162,178	189,086	177,454	182,700	157,252	124,944	105,463	91,508	75,494	65,963	52,856	40,628
Impairment of oil and gas properties
89,220	-	1,041,469	130,999	81,244	-	221,095	134,437	50,536	-	41,000	15,199	26,899	115,712	11,753	19,944	15,526	60,651	8,754	26,339	8,577	7,303	4,542	1,956	1,397	1,364	3,205	4,803	1,556
Impairment of midstream assets
-	-	-	-	6,982	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commodity derivative fair value (gains) losses
565,833	-7,875	220,788	328,427	-77,368	-222,387	57,020	55,336	22,437	199,824	-65,957	85,641	438,775	-639,805	530,334	-684,634	279,924	545,103	1,079,071	-2,227	759,554	931,921	308,975	-123,766	-248,929	206,179	161,968	195,483	-71,941
Gains on settled commodity derivatives
210,926	63,296	120,003	44,699	97,092	-25,257	71,144	95,884	101,341	76,548	61,479	31,064	44,849	1,816,642	-196,711	-292,501	-324,347	1,443,211	-205,919	-195,880	-184,840	193,117	-57,451	-953	1,071	-54,259	-47,034	-14,146	-48,131
Equity-based compensation expense
3,329	4,232	3,875	6,549	8,903	13,985	16,202	19,071	21,156	24,520	26,447	26,975	25,503	26,754	26,381	25,816	23,470	18,597	23,915	27,582	27,783	26,356	24,285	32,474	29,137	-	-	-	-
Marketing derivative fair value gains
-	-	-	-	-	0	-43	-110	94,234	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on settled marketing derivatives
-	-	-	-	-	-5,411	-16,060	-15,884	110,042	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax expense (benefit)
-109,985	-111,177	-272,944	17,109	287,854	-131,357	18,953	-25,573	9,120	-400,213	-45,078	18,819	131,346	-254,637	140,924	-376,494	4,815	77,181	335,460	-84,089	247,338	369,753	135,035	-18,454	-40,662	69,515	67,370	83,725	-30,400
Loss (gain) on early extinguishment of debt
80,561	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings (loss) of unconsolidated affiliates
-128,055	-53,023	-117,859	13,585	14,081	12,448	10,706	9,264	7,862	7,307	7,033	3,623	2,231	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of equity investments
610,632	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on deconsolidation of Antero Midstream Partners LP
-	0	0	0	1,406,042	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions/dividends of earnings from unconsolidated affiliates
42,756	48,715	48,714	47,922	12,605	16,755	11,765	10,810	7,085	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
2,440	2,502	2,509	-5,411	11,081	1,736	1,013	963	969	-3,098	719	559	-87	-10,944	-2,165	347	274	-43,870	8,130	2,397	1,602	-11,307	3,905	-2,213	3,182	-2,738	1,336	1,188	1,387
Changes in current assets and liabilities:
Accounts receivable
54,514	-17,395	-8,388	36,320	-42,168	19,809	5,584	-2,033	-8,204	6,985	11,417	-20,380	7,192	-29,780	-2,279	-7,147	-651	18,500	-18,286	-39,220	42,207	9,448	20,223	19,282	-3,360	-2,413	3,792	-2,610	10,545
Accrued revenue
-116,566	36,709	-27,584	-56,389	-109,677	120,818	32,796	41,291	-20,199	66,537	14,964	-1,438	-41,901	65,470	63,011	-2,967	8,204	12,449	-9,674	-40,437	-25,654	47,544	4,461	-6,122	48,850	10,703	19,690	13,815	5,948
Other current assets
70	3,390	-58	-943	4,475	-58	6,074	-3,784	217	-1,081	1,451	-981	3,366	2,911	-3,126	-1,544	-15	6,348	-3,080	560	-1,607	3,866	-1,917	846	96	-17,841	9,106	903	-11,711
Accounts payable including related parties
-1,251	-27,025	1,453	18,946	-21,370	1,130	5,229	10,990	-8,042	4,731	2,659	-10,473	12,545	1,682	-7,540	8,836	4,387	-7,234	-5,881	5,092	-513	-21,211	-2,947	9,195	-5,718	5,641	-3,166	148	-1,584
Accrued liabilities
-19,593	-14,593	10,977	-7,181	-14,965	36,116	3,381	13,706	10,359	21,819	38,839	-15,135	19,339	-22,533	44,748	-52,403	49,041	2,286	18,674	-57,217	72,634	-10,212	62,803	-5,501	47,976	-17,917	24,583	-4,153	24,290
Revenue distributions payable
-33,333	-30,663	-62,381	-34	-9,761	64,995	34,598	-26,673	28,290	-11,354	17,820	4,376	34,786	-8,213	37,148	2,136	2,969	-31,564	-29,368	7,426	1,103	12,906	15,354	17,529	39,974	27,663	14,394	1,458	7,037
Other current liabilities
435	3,205	268	-833	1,952	-1,174	-807	-352	-1,490	3,191	-1,587	1,286	-676	-1,194	577	-445	-29	9,844	-5,346	963	705	-	-	-	-	-	-	-	-
Net cash provided by operating activities
200,677	147,940	198,410	218,104	539,004	821,589	421,458	297,391	541,549	313,483	1,045,222	253,647	393,939	335,559	326,991	238,538	340,168	174,658	246,046	243,668	351,440	199,517	300,717	223,722	274,307	202,770	139,540	82,190	110,207
Cash flows provided by (used in) investing activities:
Additions to proved properties
-	-	-	-	-	-	-	-	-	-3,668	0	129,654	49,664	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to unproved properties
10,357	18,886	12,982	29,351	27,463	42,006	42,520	38,292	49,569	22,065	52,331	74,334	55,542	52,059	501,377	29,520	28,675	28,403	38,608	80,142	51,541	259,175	279,095	179,003	60,149	97,993	71,829	122,031	148,972
Drilling and completion costs
300,483	296,187	277,843	311,401	368,687	362,913	372,879	392,913	359,868	335,477	317,200	322,383	306,925	317,908	299,877	314,789	395,185	300,784	341,077	440,353	569,068	753,493	620,640	606,796	496,221	450,717	444,338	385,945	334,965
Additions to water handling and treatment systems
-	0	0	0	24,416	20,314	19,258	17,842	40,285	51,032	48,019	58,497	36,954	50,833	58,730	41,589	37,036	51,824	45,151	11,950	22,126	-	-	-	60,030	101,952	64,871	27,947	9,020
Additions to gathering systems and facilities
-	0	0	0	48,239	106,965	130,695	113,083	93,670	91,598	99,254	88,806	66,559	76,908	56,836	48,614	48,686	77,474	82,768	74,057	125,988	151,371	144,999	154,144	107,523	149,334	88,382	95,762	55,975
Additions to other property and equipment
771	720	1,351	1,501	3,128	2,143	1,869	931	2,571	2,710	4,853	5,974	590	947	451	755	541	1,370	2,431	691	2,103	679	1,498	3,258	7,783	3,015	1,459	1,045	721
Settlement of water earnout
125,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in unconsolidated affiliates
-	0	0	0	25,020	45,056	35,122	38,908	17,389	18,228	25,412	31,475	159,889	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the Antero Midstream Partners LP Transactions
-	0	0	0	296,611	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in other assets
-	-	-	-	-	-	-	-	-	-	3,696	102	12,350	-	-45,752	38,753	9,172	1,440	-11,949	-7,651	8,410	-3,814	-32,171	35,260	3,807	-9,603	15,597	-2,207	-1,768
Proceeds from sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	40,000	-	-	-	-	-	-	-	-
Net cash used in investing activities
-186,681	-216,163	-279,741	-340,769	-204,817	-580,385	-597,992	-608,778	-563,569	-513,323	-550,765	-709,069	-688,473	-420,471	-936,308	-519,064	-519,295	-461,295	-498,086	-599,542	-739,236	-1,265,178	-1,070,601	-1,018,358	-735,513	-808,708	-686,476	-630,523	-547,885
Cash flows provided by (used in) financing activities:
Issuance of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	139	-182	537,875	-	-	-	-	-	-	-	-
Issuance of common units by Antero Midstream Partners LP
-	-	-	-	-	-	-	-	-	7	2,364	23,466	223,119	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of common units of Antero Midstream Partners LP held by Antero Resources Corporation
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	178,000	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock
42,690	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of senior notes
-	0	0	0	650,000	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	750,000	-	-	-	-	1,000,000	0	0	231,750
Repayment of senior notes
300,835	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings (repayments) on bank credit facilities, net
330,000	277,000	100,000	125,000	-270,000	-21,621	197,000	410,000	75,000	288,000	-783,000	515,000	70,000	-125,000	-125,000	-460,000	33,000	302,000	-93,000	328,000	-940,000	225,000	265,000	495,000	457,000	-1,224,500	552,500	556,000	187,000
Payments of deferred financing costs
-	-3,712	0	0	8,259	-	-	-	-	-	-	-	-	9,730	8,933	32	64	103	1,936	232	15,022	3,973	10,581	16,288	701	-	-	-	3,014
Distributions to noncontrolling interests in Antero Midstream Partners LP
-	0	0	0	85,076	78,496	69,752	63,108	55,915	50,299	40,184	34,720	27,149	23,844	19,557	17,668	14,013	12,771	8,741	8,279	4,338	-	-	-	-	-	-	-	-
Employee tax withholding for settlement of equity compensation awards
32	10	84	1,816	479	8,815	238	6,883	1,084	15,674	67	6,776	1,657	22,019	57	4,702	117	4,877	41	4,467	46	-	-	-	-	-	-	-	-
Other
-439	-539	-661	-519	-841	-1,019	-1,084	-1,167	-1,269	-1,070	-1,166	-1,358	-1,389	-1,454	-1,295	-1,290	-1,282	-1,280	-1,229	-1,171	-1,161	-	-	-	-	-	-2,176	1,043	7,759
Net cash provided by financing activities
-13,996	68,223	81,331	122,665	285,345	-241,204	125,926	338,842	16,732	204,587	-510,953	495,612	262,924	98,010	599,578	268,907	195,524	282,700	136,164	313,669	327,308	1,305,332	756,919	801,329	456,299	611,841	547,653	554,394	423,495
Effect of deconsolidation of Antero Midstream Partners LP
-	0	0	0	-619,532	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash and cash equivalents
0	-	-	-	0	0	-50,608	27,455	-5,288	4,747	-16,496	40,190	-31,610	13,098	-9,739	-11,619	16,397	-3,937	-115,876	-42,205	-60,488	239,671	-12,965	6,693	-4,907	5,903	717	6,061	-14,183
Supplemental disclosure of cash flow information:
Cash paid during the period for interest
30,089	82,043	23,108	82,099	37,081	96,280	49,258	88,221	42,010	89,595	49,040	89,514	35,770	106,441	11,800	106,778	14,350	103,366	13,446	88,570	14,563	95,756	7,268	46,944	13,087	47,611	7,975	46,086	16,160
Increase (decrease) in accounts payable and accrued liabilities for additions to property and equipment
10,767	6,206	11,137	-10,415	-22,825	-55,042	5,236	-10,602	12,691	2,537	-34,266	41,202	-10,020	-341,327	33,563	36,480	119,191	-23,505	-16,929	25,464	184,753	-408,959	100,711	62,641	64,016	53,598	80,474	-34,792	88,843