Eqm midstream partners, lp (EQM)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12
Cash flows from operating activities:
Net income

255,285

-206,105

-40,215

156,471

251,931

-36,107

209,927

234,685

262,843

185,087

142,938

139,139

143,196

135,700

133,660

131,859

136,735

174,385

94,116

91,319

95,306

103,149

67,701

58,968

54,998

65,343

84,328

13,331

26,789

71,496

15,585

12,012

11,123

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

61,114

60,383

59,197

56,515

47,065

44,957

43,567

42,110

41,280

42,970

22,244

21,400

20,547

19,514

14,639

14,531

14,007

12,493

13,217

12,258

11,927

16,083

12,545

10,436

9,997

11,583

4,117

10,165

5,041

11,153

4,645

3,170

3,038

Amortization of intangible assets

14,581

14,623

14,540

13,750

10,387

10,340

10,387

10,387

10,386

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairments of long-lived assets

55,581

475,520

298,687

80,100

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred Income Tax Expense (Benefit)

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,777

3,022

2,975

-33,684

0

0

2,998

13,892

5,968

4,283

3,494

-

-

-

-508

33,613

20,568

-9,390

16,179

Equity income

54,072

50,986

44,448

36,782

31,063

25,942

16,087

10,938

8,811

6,758

6,025

5,111

4,277

3,759

2,700

1,850

1,589

1,220

753

394

0

-

-

-

-

-

-

-

-

-

-

-

-

AFUDC – equity

236

235

474

2,107

2,346

1,985

1,448

1,072

1,065

982

831

1,598

1,699

2,669

8,003

5,793

2,937

2,728

1,716

1,169

714

1,679

806

559

269

397

319

229

297

458

1,142

4,157

2,471

Non-cash long-term compensation expense

285

0

0

0

255

0

636

140

499

17

0

0

225

0

0

0

195

334

328

239

566

784

779

827

978

209

210

209

353

132

404

1,105

641

Gain on derivative instruments

4,200

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-430

-250

-

-

-

-

Changes in other assets and liabilities:
Accounts receivable

-2,346

11,923

-32,605

-1,367

4,950

50,239

1,754

-6,549

2,602

23,477

507

-369

968

11,555

-913

-2,174

535

3,953

-755

-2,519

-32

1,205

598

-1,982

5,625

3,737

846

-619

756

136

12,417

-1,376

-352

Accounts payable

-5,506

-5,107

-60,872

48,957

-72,188

81,518

-26,285

53,873

-14,145

1,005

-578

2,062

364

-49,478

6,045

5,845

-302

6,893

-2,881

9,242

-4,784

-9,706

10,926

3,757

-243

4,916

-6,027

1,870

-5,293

-4,928

11,954

-9,754

-2,011

Due to/from EQT affiliates

-

-

-

-

-

-

-

-

-

-

-4,217

-1,303

-107

-

33,130

-1,342

28,429

-12,083

19,525

-3,452

-12,623

10,131

22,834

-5,700

14,614

-1,175

-9,164

16,968

-18,268

-24,661

16,706

-26,798

-1,974

Other assets and other liabilities

40,072

-28,452

24,401

-30,964

38,118

-37,227

-23,632

-3,215

4,427

-3,870

1,560

-1,319

-3,927

-9,916

10,556

-8,916

3,793

-5,240

2,780

-6,977

3,295

-3,408

-2,716

-2,295

1,073

-

-

-

4,325

-

-

-

-

Net cash provided by operating activities

285,136

304,580

234,584

349,270

160,973

321,757

242,575

338,949

283,958

201,645

159,898

158,883

161,422

157,886

103,645

160,046

116,327

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

208

2,441

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-114

-4,984

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

124,443

114,659

-

76,397

87,689

47,643

111,520

95,839

13,919

39,022

135,208

18,972

34,309

11,606

Cash flows from investing activities:
Capital expenditures

151,932

197,540

297,127

321,068

206,735

220,638

233,419

212,357

170,589

155,560

75,178

86,466

62,947

107,214

168,836

184,144

124,625

153,489

95,677

117,475

91,415

125,790

98,780

79,661

52,008

206,838

52,305

11,795

12,073

104,925

42,889

74,171

51,240

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

386,791

0

0

168,198

0

-

-

-

-

-

-

-

-

Capital contributions to the MVP Joint Venture

45,150

-512,852

211,677

156,412

144,763

-434,747

263,244

65,786

117,019

-103,448

43,508

40,180

19,760

22,102

35,634

29,233

11,430

-

30,152

0

54,229

-

-

-

-

-

-

-

-

-

-

-

-

Intercompany Loan to Equitrans Midstream

650,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

12,533

1,379

0

8,344

0

0

0

0

0

-

-

-

-

-

-

-

-

Principal payments received on the Preferred Interest

1,225

1,190

1,173

1,157

1,141

1,125

1,109

1,093

1,079

1,063

1,049

1,034

1,020

1,024

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-845,857

-458,091

-496,237

-1,324,948

-350,357

-697,961

-495,554

-1,470,210

-286,529

-210,599

-117,637

-125,612

-81,687

-190,664

-204,470

-213,377

-123,522

-152,110

-125,829

-233,448

-532,435

-125,790

-98,780

-247,859

-52,008

-206,838

-52,305

-11,795

-12,073

-104,925

-42,889

-74,171

-51,240

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

423,190

62,230

-99

698,600

0

16

902,451

0

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

486,392

0

0

952,802

0

-

-

-

-

-

-

-

-

Sunrise Merger payment (as defined in Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

110,000

-

-

-

-

-

-

-

-

Proceeds from revolving credit facility borrowings

1,170,000

515,000

840,000

445,000

602,000

903,500

133,500

2,086,500

304,000

210,000

184,000

100,000

50,000

310,000

170,000

189,000

71,000

55,500

127,500

44,000

390,000

0

0

340,000

110,000

-

-

-

-

-

-

-

-

Payments on revolving credit facility borrowings

350,000

170,000

1,655,000

427,000

145,000

300,500

371,500

2,468,500

128,000

115,000

119,000

60,000

50,000

401,000

79,000

198,000

361,000

106,500

89,500

31,000

91,000

0

330,000

120,000

0

-

-

-

-

-

-

-

-

Payments for credit facility amendment fees

2,740

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net contributions from EQT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,182

-17,268

0

0

23,866

-28,508

-23,221

-18,276

-36,175

-

-

-

-

-

-

-

-

Distributions paid to unitholders

-

-

-

-

-

-

-

-

-

-

-

-

97,822

-

-

-

72,575

-

56,464

52,222

41,180

-

34,100

24,950

23,039

-

-

-

12,386

-

-

-

-

Due to/from EQT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,000

15,602

68,689

-39,634

Capital contributions

-

-

-

-

-

1,118

0

2,799

12,873

9,574

0

0

216

0

0

5,884

0

0

1,535

213

33

0

337

163

-118

-

-

-

2,382

-

-

-

-

Distributions paid to common unitholders

232,531

232,531

232,531

229,524

211,292

207,735

201,809

167,866

158,735

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to Series A Preferred unitholders

25,501

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to noncontrolling interest

-

-

-

-

-

0

0

0

750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt discount, debt issuance costs and credit facility origination fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

73

7,614

0

2,020

-

-

-

-

-

-

-

-

Capital lease principal payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

995

4,477

-

0

1,268

948

-

-

-

-

-

-

-

-

Net cash provided by financing activities

559,228

87,372

326,927

918,464

245,708

389,007

-443,763

1,751,298

29,388

5,571

-48,712

-64,238

-97,606

93,146

16,731

137,057

-353,393

332,534

45,301

-40,103

441,718

-6,888

151,860

161,870

10,050

82,652

-65,000

-16,615

-10,004

-7,316

50,991

39,862

39,634

Net change in cash, restricted cash and cash equivalents

-1,493

-66,139

65,274

-57,214

56,324

12,803

-696,742

620,037

26,817

-3,383

-6,451

-30,967

-17,871

60,368

-84,094

83,726

-360,588

350,267

233

-149,108

23,942

-19,603

129,477

1,700

5,685

-

-

-

16,945

-

-

-

-

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

88,081

24,294

86,297

17,761

88,240

11,502

9,031

20,089

13,532

12,703

10,095

11,585

9,411

-1,538

6,934

-1,235

9,738

-20,279

16,014

6,555

17,316

-16,001

6,781

5,934

4,866

-

-

-

-

224

221

3,435

2,581

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

-

-

-

-

-

-1,166

493

-2,177

-10,074

11,653

0

0

758

-

-

-

-

-14,056

11,565

5,148

3,087

-

2,053

1,553

3,625

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Elimination of net current and deferred tax liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

168,892

0

0

-84,446

91,598

0

-39,785

0

-

-

-

-

0

-147,264

13,471

-9,794

Net settlement of current income taxes receivable with EQT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,022

0

12,028

-18,322

-

-

-

-

-

-

-

-

Limited partner and general partner units issued for acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

52,500

-

0

59,000

0

-

-

-

-

-

-

-

-