Eqm midstream partners, lp (EQM)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash flows from operating activities:
Net income

162,082

671,348

610,360

537,954

455,126

284,816

189,791

110,216

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation

223,160

171,914

107,161

62,691

49,895

49,061

30,906

22,006

Amortization of intangible assets

53,300

41,500

5,540

0

0

-

-

-

Impairments of long-lived assets

854,307

261,941

0

-

-

-

-

-

Impairment of goodwill

-

-

-

0

-

-

-

-

Deferred Income Tax Expense (Benefit)

-

-

-

8,774

-30,686

27,637

37,663

60,970

Equity income

163,279

61,778

22,171

9,898

2,367

0

0

-

AFUDC – equity

5,162

5,570

5,110

19,402

6,327

3,313

1,242

8,228

Non-cash long-term compensation expense

255

1,275

242

195

1,467

3,368

981

2,282

Non-cash adjustments

-

-

-

-

-

-1,520

-680

-2,508

Changes in other assets and liabilities:
Accounts receivable

-17,099

48,046

24,583

9,003

647

5,446

4,720

10,825

Accounts payable

-89,210

94,961

2,853

-37,890

8,470

4,734

-4,534

-4,739

Due to/from EQT affiliates

-

-

-

-

-8,633

41,879

-11,639

-36,727

Other assets and other liabilities

3,103

-59,647

-7,556

-4,483

-6,142

-7,346

-496

5,806

Net cash provided by operating activities

1,049,407

1,187,239

681,848

537,904

489,706

324,804

-

-

Net cash provided by operating activities

-

-

-

-

-

-

260,300

200,095

Cash flows from investing activities:
Capital expenditures

1,022,470

837,003

380,151

584,819

458,056

356,239

283,011

273,225

Bolt-on Acquisition (Note 2), net of cash acquired

-

-

-

62,372

386,791

168,198

0

0

Capital contributions to the MVP Joint Venture

774,593

913,195

159,550

-

-

-

-

-

Capital contributions to the MVP Joint Venture

0

11,302

0

98,399

-

-

-

-

Drop-Down Transaction

-

-

-

0

84,381

0

0

-

(Purchase)/sale of interests in the MVP Joint Venture

-

-

-

12,533

9,723

0

-

0

Preferred Interest Acquisition (as defined in Note 2)

-

-

-

-

124,317

0

0

-

Principal payments received on the Preferred Interest

4,661

4,406

4,166

1,024

0

0

-

-

Net cash used in investing activities

-2,629,633

-2,950,254

-535,535

-732,033

-1,043,822

-524,437

-283,011

-273,225

Cash flows from financing activities:
Proceeds from the issuance of EQM common units, net of offering costs

-

-

-

217,102

1,183,921

902,467

529,442

276,780

October 2016 Acquisition - purchase price in excess of net assets from EQT (see Note 2)

-

-

-

3,734

486,392

952,802

0

0

Acquisition of AVC net assets from EQT (see Note 2)

-

-

-

208,894

0

0

-

-

Sunrise Merger payment (as defined in Note 2)

-

-

-

-

-

110,000

507,500

-

Proceeds from revolving credit facility borrowings

2,402,000

3,427,500

544,000

740,000

617,000

450,000

0

0

Payments on revolving credit facility borrowings

2,397,000

3,268,500

344,000

1,039,000

318,000

450,000

0

0

Payment for Debt Extinguishment or Debt Prepayment Cost

28,325

0

0

-

-

-

-

-

Proceeds from the issuance of long-term debt

1,400,000

2,500,000

0

500,000

0

500,000

0

0

Proceeds from the issuance of Series A Preferred Units, net of offering costs

1,158,313

0

0

-

-

-

-

-

Net contributions from EQT

0

-3,001

-29,711

-20,234

6,598

-106,180

-61,026

-

Net contributions from noncontrolling interest

-

-

-

-

0

-

-

-

Acquisition of 25% of Strike Force Midstream LLC

0

175,000

0

0

-

-

-

-

Distribution of proceeds from the issuance of common units

-

-

-

-

-

-

-

230,887

Due to/from EQT

-

-

-

-

-

-

-

49,657

Retirements of long-term debt

-

-

-

-

-

-

-

135,235

Capital contributions

711

16,790

9,790

5,884

1,781

382

5,631

284,750

Capital contributions

-

-

-

-

-

-

-

1,863

Distributions paid to unitholders

-

-

-

-

-

119,628

66,176

12,386

Distributions paid to common unitholders

905,878

736,145

442,229

329,471

212,262

-

31,390

10,193

Distributions paid to Series A Preferred unitholders

48,480

0

0

-

-

-

-

-

Distributions paid to noncontrolling interest

0

750

0

0

-

-

-

-

Debt discount, debt issuance costs and credit facility origination fees

2,870

40,966

2,257

8,580

0

9,707

0

1,864

Capital lease principal payments

-

-

-

-

-

-

0

0

Net cash provided by financing activities

1,578,471

1,725,930

-204,985

-106,459

779,450

316,892

-8,967

123,171

Net change in cash, restricted cash and cash equivalents

-1,755

-37,085

-58,672

-300,588

225,334

117,259

-31,678

50,041

Cash paid during the period for:
Interest, net of amount capitalized

216,592

54,154

43,794

13,899

19,606

1,580

939

6,461

Non-cash activity during the year:
(Decrease) increase in capital contribution receivable from EQT

0

-12,924

12,411

-5,283

5,744

-

134,395

0

MVP Joint Venture investment/payable for capital contributions (see Note 6)

-

-

-

-

-

0

-

-

Elimination of net current and deferred tax liabilities

-

-

-

93,951

84,446

51,813

-43,083

-143,587

Asset adjustments prior to acquisition

-

-

-

-115,270

0

0

-

-

Limited partner and general partner units issued for acquisitions

-

-

-

-

52,500

59,000

32,500

0

Contingent consideration

-

-

-

-

-

-

110,000

-

Net settlement of current income taxes receivable with EQT

-

-

-

-

8,652

18,728

2,841

1,463

Non-cash distributions

-

-

-

-

-

-

-

12,229

Bolt-on Acquisition
Amortization of intangible assets

11,700

-

-

-

-

-

-

-

Bolt-on Acquisition (Note 2), net of cash acquired

837,231

0

0

-

-

-

-

-

Drop Down Transaction
Bolt-on Acquisition (Note 2), net of cash acquired

0

1,193,160

0

-

-

-

-

-