Eqm midstream partners, lp (EQM)
Income statement / 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'12Sep'11Jun'11
Operating revenues  affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67,377

66,238

34,386

-

26,653

23,197

24,234

21,446

19,731

Operating revenues  third party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,099

9,433

9,979

-

7,799

6,468

6,769

5,974

5,448

Revenue from Contract with Customer, Excluding Assessed Tax

453,113

425,859

408,434

406,167

389,782

384,791

364,584

374,697

371,026

292,378

206,293

196,815

200,072

191,672

176,772

178,042

185,786

184,723

148,789

144,613

154,811

151,061

120,922

109,327

107,908

156,489

77,476

75,671

44,365

141,173

34,452

29,665

31,003

27,420

25,179

Operating expenses:
Operating and maintenance

38,422

-64,760

43,021

46,556

27,883

44,900

48,109

43,270

27,172

30,110

19,589

18,315

16,817

17,568

18,198

16,353

17,136

19,311

18,456

17,232

14,479

16,211

13,837

13,626

12,739

17,988

9,740

8,367

6,632

17,414

8,109

6,162

7,024

5,424

9,176

Selling, General and Administrative Expense

27,897

27,449

23,845

26,406

32,920

40,869

26,860

27,712

26,390

25,351

18,758

15,812

17,400

19,093

17,725

18,129

17,523

18,021

14,205

13,727

15,653

13,055

12,674

12,865

12,555

16,093

7,188

8,030

4,263

10,871

5,224

4,334

4,549

5,154

4,412

Separation and other transaction costs

4,104

217

256

15,358

3,513

289

2,161

5,350

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

12,807

6,624

6,434

5,041

11,153

4,645

3,170

3,038

2,835

2,859

Amortization of Intangible Assets

14,581

14,623

14,540

13,750

10,387

10,340

10,387

10,387

10,386

5,540

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairments of long-lived assets

55,581

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of Oil and Gas Properties

-

-

298,652

80,135

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

201,699

626,057

439,511

238,720

121,768

403,304

131,084

128,829

105,228

103,971

60,591

55,527

54,764

56,175

50,562

49,013

48,666

49,825

45,878

43,217

42,059

45,349

39,056

36,927

35,291

46,888

23,552

22,831

15,936

39,438

17,978

13,666

14,611

13,413

16,447

Operating Income (Loss)

251,414

-200,198

-31,077

167,447

268,014

-18,513

233,500

245,868

265,798

188,407

145,702

141,288

145,308

135,497

126,210

129,029

137,120

134,898

102,911

101,396

112,752

105,712

81,866

72,400

72,617

109,601

53,924

52,840

28,429

101,735

16,474

15,999

16,392

14,007

8,732

Income (Loss) from Equity Method Investments

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

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

Other income

4,330

95

337

1,959

2,210

1,818

1,345

944

904

863

637

1,402

1,537

-4,377

13,479

10,409

7,602

3,027

2,469

1,563

714

1,679

806

559

269

397

319

229

297

458

1,142

4,157

2,471

1,151

660

Interest Income (Expense), Net

-54,531

362,980

-53,923

-49,717

-49,356

198,834

-41,005

-23,065

-12,670

62,969

-9,426

-8,662

-7,926

-5,318

-2,802

-4,094

-4,552

13,016

-11,264

-11,640

-11,457

10,073

-8,660

-6,629

-5,655

-1,059

-196

-213

-204

-5,765

68

1,214

1,539

1,759

1,298

Income before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

135,700

136,887

135,344

140,170

150,941

94,116

91,319

102,009

117,464

74,012

66,330

67,231

108,939

54,047

52,856

28,522

101,934

17,684

18,942

17,324

13,399

8,094

Income Tax Expense (Benefit)

-

-

-

-

-

-

-

-

-

-

-

-

-

0

3,227

3,485

3,435

-23,444

0

0

6,703

14,315

6,311

7,362

12,233

30,650

9,993

12,197

1,733

30,811

1,726

6,930

6,201

5,018

3,154

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to noncontrolling interest

3,607

4,373

-29,697

4,033

0

0

0

853

2,493

734

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to EQM

251,678

-210,478

-10,518

152,438

251,931

-36,107

209,927

233,832

260,350

184,353

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

78,289

44,054

40,659

26,789

71,123

15,958

12,012

11,123

8,381

4,940

Calculation of limited partner common unit interest in net income:
Net Income (Loss) Attributable to Parent

251,678

-210,478

-10,518

152,438

251,931

-36,107

209,927

233,832

260,350

184,353

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

78,289

44,054

40,659

26,789

71,123

15,958

12,012

11,123

8,381

4,940

Less: Series A Preferred Units interest in net income

25,501

25,501

25,501

22,979

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Less pre-acquisition net income allocated to EQT

-

-

0

0

-

0

-8,490

-72,620

-83,132

-37,722

0

0

0

0

-7,094

-7,097

-7,670

-61,676

0

0

-11,106

-28,493

-11,168

-12,390

-20,143

-92,213

-16,338

19,628

2,710

-

1,868

-

-

-

-

Less general partner interest in net income - general partner units

-

-

0

0

-

1,092

-2,379

-1,700

-3,117

-2,578

-2,515

-2,448

-2,519

-2,384

-2,224

-2,210

-2,355

-2,085

-1,860

-1,826

-1,684

4,803

-4,540

-2,792

-1,723

-3,142

-755

465

505

-

312

-

-

-

-

General Partner Interest in Net Income (Loss) Allocated to Incentive Distribution Rights

-

-

0

0

-

-72,675

-70,967

-68,121

-44,164

-41,080

-37,615

-34,150

-30,686

-27,607

-24,912

-22,217

-18,832

-16,210

-12,655

-10,082

-8,045

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Limited partner interest in net income

226,177

-235,979

-36,019

129,459

251,931

-107,690

128,091

91,391

129,937

102,973

102,808

102,541

109,991

105,709

99,430

100,335

107,878

94,414

79,601

79,411

74,471

68,006

51,993

43,786

33,132

29,550

26,961

20,566

23,574

-

13,778

-

-

-

-

Net (loss) income per limited partner common unit – basic (in dollars per share)

1.13

-1.52

-0.18

0.65

1.63

-1.41

1.14

1.09

1.61

-

-

-

1.36

1.32

1.23

1.27

1.39

1.29

1.12

1.12

1.18

1.17

0.86

0.81

0.69

0.59

0.61

0.59

0.68

-

0.40

-

-

-

-

Net (loss) income per limited partner common unit – diluted (in dollars per share)

1.08

-1.44

-0.18

0.62

1.56

-1.41

1.14

1.09

1.61

-

-

-

1.36

1.32

1.23

1.27

1.39

1.28

1.12

1.12

1.18

1.17

0.85

0.81

0.69

0.59

0.60

0.59

0.68

-

0.40

-

-

-

-

Weighted average limited partner common units outstanding – basic (in shares)

200,495

201,116

200,483

200,482

154,259

121,072

111,980

83,553

80,607

-

-

-

80,602

80,411

80,599

78,865

77,593

73,586

70,929

70,722

63,211

60,203

60,699

54,259

47,819

49,072

44,526

34,679

34,679

-

34,679

-

-

-

-

Weighted average limited partner common units outstanding – diluted (in shares)

232,100

215,116

200,483

207,482

161,259

121,072

111,980

83,553

80,607

-

-

-

80,602

80,413

80,599

78,865

77,675

73,751

71,086

70,876

63,379

60,381

60,827

54,386

47,938

49,196

44,639

34,785

34,768

-

34,684

-

-

-

-

Net income per limited partner unit basic and diluted (in dollars per share)

-

-

-

-

-

-

-

-

-

-

1.28

1.27

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average limited partner units outstanding basic and diluted (in shares)

-

-

-

-

-

-

-

-

-

-

80,603

80,603

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash distributions declared per unit (in dollars per share)

0.38

1.16

1.16

1.16

1.14

1.13

1.11

1.09

1.06

-

0.98

0.93

-

0.85

0.81

0.78

0.74

-

0.67

0.64

0.61

-

0.55

0.52

0.49

-

0.43

0.40

0.37

-

0.35

-

-

-

-