Eqm midstream partners, lp (EQM)
CashFlow / TTM
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

165,436

162,082

332,080

582,222

660,436

671,348

892,542

825,553

730,007

610,360

560,973

551,695

544,415

537,954

576,639

537,095

496,555

455,126

383,890

357,475

325,124

284,816

247,010

263,637

218,000

189,791

195,944

127,201

125,882

110,216

0

0

0

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

237,209

223,160

207,734

192,104

177,699

171,914

169,927

148,604

127,894

107,161

83,705

76,100

69,231

62,691

55,670

54,248

51,975

49,895

53,485

52,813

50,991

49,061

44,561

36,133

35,862

30,906

30,476

31,004

24,009

22,006

0

0

0

Amortization of intangible assets

57,494

53,300

49,017

44,864

41,501

41,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairments of long-lived assets

909,888

854,307

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred Income Tax Expense (Benefit)

-

-

-

-

-

-

-

-

-

-

-

-

-

8,774

-24,910

-27,687

-30,709

-30,686

16,890

22,858

27,141

27,637

0

0

0

-

-

-

44,283

60,970

0

0

0

Equity income

186,288

163,279

138,235

109,874

84,030

61,778

42,594

32,532

26,705

22,171

19,172

15,847

12,586

9,898

7,359

5,412

3,956

2,367

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

AFUDC – equity

3,052

5,162

6,912

7,886

6,851

5,570

4,567

3,950

4,476

5,110

6,797

13,969

18,164

19,402

19,461

13,174

8,550

6,327

5,278

4,368

3,758

3,313

2,031

1,544

1,214

1,242

1,303

2,126

6,054

8,228

0

0

0

Non-cash long-term compensation expense

285

255

255

891

1,031

1,275

1,292

656

516

242

225

225

225

195

529

857

1,096

1,467

1,917

2,368

2,956

3,368

2,793

2,224

1,606

981

904

1,098

1,994

2,282

0

0

0

Gain on derivative instruments

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-680

0

0

0

-

-

-

-

Changes in other assets and liabilities:
Accounts receivable

-24,395

-17,099

21,217

55,576

50,394

48,046

21,284

20,037

26,217

24,583

12,661

11,241

9,436

9,003

1,401

1,559

1,214

647

-2,101

-748

-211

5,446

7,978

8,226

9,589

4,720

1,119

12,690

11,933

10,825

0

0

0

Accounts payable

-22,528

-89,210

-2,585

32,002

36,918

94,961

14,448

40,155

-11,656

2,853

-47,630

-41,007

-37,224

-37,890

18,481

9,555

12,952

8,470

-8,129

5,678

193

4,734

19,356

2,403

516

-4,534

-14,378

3,603

-8,021

-4,739

0

0

0

Due to/from EQT affiliates

-

-

-

-

-

-

-

-

-

-

0

0

6,131

-

48,134

34,529

32,419

-8,633

13,581

16,890

14,642

41,879

30,573

-1,425

21,243

-11,639

-35,125

-9,255

-53,021

-36,727

0

0

0

Other assets and other liabilities

5,057

3,103

-5,672

-53,705

-25,956

-59,647

-26,290

-1,098

798

-7,556

-13,602

-4,606

-12,203

-4,483

193

-7,583

-5,644

-6,142

-4,310

-9,806

-5,124

-7,346

0

0

0

-

-

-

0

-

-

-

-

Net cash provided by operating activities

1,173,570

1,049,407

1,066,584

1,074,575

1,064,254

1,187,239

1,067,127

984,450

804,384

681,848

638,089

581,836

582,999

537,904

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

323,249

342,691

268,921

260,300

283,988

207,121

227,511

200,095

0

0

0

Cash flows from investing activities:
Capital expenditures

967,667

1,022,470

1,045,568

981,860

873,149

837,003

771,925

613,684

487,793

380,151

331,805

425,463

523,141

584,819

631,094

557,935

491,266

458,056

430,357

433,460

395,646

356,239

437,287

390,812

322,946

283,011

181,098

171,682

234,058

273,225

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

386,791

386,791

386,791

554,989

168,198

0

0

0

-

-

-

-

-

-

-

-

Capital contributions to the MVP Joint Venture

-99,613

0

78,105

129,672

39,046

11,302

342,601

122,865

97,259

0

125,550

117,676

106,729

98,399

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Intercompany Loan to Equitrans Midstream

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

12,533

13,912

13,912

22,256

9,723

8,344

8,344

0

0

0

0

0

-

-

-

-

-

-

-

-

Principal payments received on the Preferred Interest

4,745

4,661

4,596

4,532

4,468

4,406

4,344

4,284

4,225

4,166

4,127

3,078

2,044

1,024

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-3,125,133

-2,629,633

-2,869,503

-2,868,820

-3,014,082

-2,950,254

-2,462,892

-2,084,975

-740,377

-535,535

-515,600

-602,433

-690,198

-732,033

-693,479

-614,838

-634,909

-1,043,822

-1,017,502

-990,453

-1,004,864

-524,437

-605,485

-559,010

-322,946

-283,011

-181,098

-171,682

-234,058

-273,225

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,183,921

760,731

698,517

1,601,067

902,467

0

0

0

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

486,392

486,392

486,392

1,439,194

952,802

0

0

0

-

-

-

-

-

-

-

-

Sunrise Merger payment (as defined in Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

110,000

0

0

0

-

-

-

-

-

-

-

-

Proceeds from revolving credit facility borrowings

2,970,000

2,402,000

2,790,500

2,084,000

3,725,500

3,427,500

2,734,000

2,784,500

798,000

544,000

644,000

630,000

719,000

740,000

485,500

443,000

298,000

617,000

561,500

434,000

730,000

450,000

0

0

0

-

-

-

-

-

-

-

-

Payments on revolving credit facility borrowings

2,602,000

2,397,000

2,527,500

1,244,000

3,285,500

3,268,500

3,083,000

2,830,500

422,000

344,000

630,000

590,000

728,000

1,039,000

744,500

755,000

588,000

318,000

211,500

452,000

541,000

450,000

0

0

0

-

-

-

-

-

-

-

-

Payments for credit facility amendment fees

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net contributions from EQT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-26,450

6,598

-4,642

-27,863

-46,139

-106,180

0

0

0

-

-

-

-

-

-

-

-

Distributions paid to unitholders

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

0

0

0

-

0

0

0

-

-

-

0

-

-

-

-

Due to/from EQT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

49,657

0

0

0

Capital contributions

-

-

-

-

-

16,790

25,246

25,246

22,447

9,790

216

216

6,100

5,884

5,884

7,419

1,748

1,781

1,781

583

533

382

0

0

0

-

-

-

0

-

-

-

-

Distributions paid to common unitholders

927,117

905,878

881,082

850,360

788,702

736,145

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to Series A Preferred unitholders

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to noncontrolling interest

-

-

-

-

-

750

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt discount, debt issuance costs and credit facility origination fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,707

0

0

0

-

-

-

-

-

-

-

-

Capital lease principal payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by financing activities

1,891,991

1,578,471

1,880,106

1,109,416

1,942,250

1,725,930

1,342,494

1,737,545

-77,991

-204,985

-117,410

-51,967

149,328

-106,459

132,929

161,499

-15,661

779,450

440,028

546,587

748,560

316,892

406,432

189,572

11,087

-8,967

-98,935

17,056

73,533

123,171

0

0

0

Net change in cash, restricted cash and cash equivalents

-59,572

-1,755

77,187

-684,829

-7,578

-37,085

-53,271

637,020

-13,984

-58,672

5,079

-72,564

42,129

-300,588

-10,689

73,638

-159,196

225,334

-144,536

-15,292

135,516

117,259

0

0

0

-

-

-

0

-

-

-

-

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

216,433

216,592

203,800

126,534

128,862

54,154

55,355

56,419

47,915

43,794

29,553

26,392

13,572

13,899

-4,842

4,238

12,028

19,606

23,884

14,651

14,030

1,580

0

0

0

-

-

-

-

6,461

0

0

0

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

-

-

-

-

-

-12,924

-105

-598

1,579

12,411

0

0

0

-

-

-

-

5,744

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Elimination of net current and deferred tax liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

84,446

7,152

7,152

-32,633

51,813

0

0

0

-

-

-

-

-143,587

0

0

0

Net settlement of current income taxes receivable with EQT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,728

0

0

0

-

-

-

-

-

-

-

-

Limited partner and general partner units issued for acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-