Energy › Crude Petroleum And Natural Gas
EQT Stock Price Correlated With EQT Financials
External Links ⌄
Income Statement
Cash Flow
Balance Sheet
EQT Income Statement
Enable JavaScript and reload
Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
EQT Cash Flow
Enable JavaScript and reload
Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
EQT Balance Sheet
Enable JavaScript and reload
Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
Financial Statements
The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for interim financial information and with the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and notes required by GAAP for complete financial statements. In the opinion of management, these statements include all adjustments (consisting of only normal recurring accruals, unless otherwise disclosed in this Quarterly Report on Form 10-Q) necessary for a fair presentation of the financial position of EQT Corporation and subsidiaries as of March 31, 2022 and December 31, 2021, the results of its operations, equity and cash flows for the three month periods ended March 31, 2022 and 2021. Certain previously reported amounts have been reclassified to conform to the current year presentation. In this Quarterly Report on Form 10-Q, references to "EQT," "EQT Corporation" and "the Company" refer collectively to EQT Corporation and its consolidated subsidiaries.
These financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021.
Recently Issued Accounting Standards
In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2020-06, Debt with Conversion and Other Options and Derivatives and Hedging: Accounting for Convertible Instruments and Contracts in an Entity's Own Equity . This ASU simplifies accounting for convertible instruments by removing certain separation models for convertible instruments. For convertible instruments with conversion features that are not accounted for as derivatives under Accounting Standards Codification 815 or do not result in substantial premiums accounted for as paid-in capital, the convertible instrument's embedded conversion features are no longer separated from the host contract. Consequently, and as long as no other feature requires bifurcation and recognition as a derivative, the convertible instrument is accounted for as a single liability measured at its amortized cost. Under ASU 2020-06, entities are required to use the if-converted method to calculate the impact of convertible instruments on diluted earnings per share (EPS). The if-converted method assumes share settlement of the instrument, which increases the number of potentially dilutive securities used to calculate diluted EPS. This ASU also adds several new disclosure requirements.
The Company adopted this ASU effective as of January 1, 2022 using the full retrospective method of adoption. The following tables present the impact of the adoption of ASU 2020-06 on the Company's previously reported historical results. See Note 6 for discussion of the Convertible Notes (defined in Note 6).
Three Months Ended March 31, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands, except per share amounts) Interest expense $ 75,099 $ (4,626) $ 70,473 Income tax benefit (14,494) 1,535 (12,959) Net loss (41,032) 3,091 (37,941) Less: Net loss attributable to noncontrolling interest (514) — (514) Net loss attributable to EQT Corporation $ (40,518) $ 3,091 $ (37,427) Basic and diluted: Weighted average common stock outstanding (a) 278,852 — 278,852 Loss per share of common stock attributable to EQT Corporation $ (0.15) $ 0.02 $ (0.13)
(a) For the three months ended March 31, 2021, diluted weighted average common stock outstanding did not change because the potentially dilutive securities had an anti-dilutive effect on loss per share.
December 31, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands) Current portion of debt (a) $ 954,900 $ 106,070 $ 1,060,970 Deferred income taxes 938,612 (31,306) 907,306 Common stock, no par value 10,167,963 (96,143) 1
The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for interim financial information and with the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and notes required by GAAP for complete financial statements. In the opinion of management, these statements include all adjustments (consisting of only normal recurring accruals, unless otherwise disclosed in this Quarterly Report on Form 10-Q) necessary for a fair presentation of the financial position of EQT Corporation and subsidiaries as of March 31, 2022 and December 31, 2021, the results of its operations, equity and cash flows for the three month periods ended March 31, 2022 and 2021. Certain previously reported amounts have been reclassified to conform to the current year presentation. In this Quarterly Report on Form 10-Q, references to "EQT," "EQT Corporation" and "the Company" refer collectively to EQT Corporation and its consolidated subsidiaries.
These financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021.
Recently Issued Accounting Standards
In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2020-06, Debt with Conversion and Other Options and Derivatives and Hedging: Accounting for Convertible Instruments and Contracts in an Entity's Own Equity . This ASU simplifies accounting for convertible instruments by removing certain separation models for convertible instruments. For convertible instruments with conversion features that are not accounted for as derivatives under Accounting Standards Codification 815 or do not result in substantial premiums accounted for as paid-in capital, the convertible instrument's embedded conversion features are no longer separated from the host contract. Consequently, and as long as no other feature requires bifurcation and recognition as a derivative, the convertible instrument is accounted for as a single liability measured at its amortized cost. Under ASU 2020-06, entities are required to use the if-converted method to calculate the impact of convertible instruments on diluted earnings per share (EPS). The if-converted method assumes share settlement of the instrument, which increases the number of potentially dilutive securities used to calculate diluted EPS. This ASU also adds several new disclosure requirements.
The Company adopted this ASU effective as of January 1, 2022 using the full retrospective method of adoption. The following tables present the impact of the adoption of ASU 2020-06 on the Company's previously reported historical results. See Note 6 for discussion of the Convertible Notes (defined in Note 6).
Three Months Ended March 31, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands, except per share amounts) Interest expense $ 75,099 $ (4,626) $ 70,473 Income tax benefit (14,494) 1,535 (12,959) Net loss (41,032) 3,091 (37,941) Less: Net loss attributable to noncontrolling interest (514) — (514) Net loss attributable to EQT Corporation $ (40,518) $ 3,091 $ (37,427) Basic and diluted: Weighted average common stock outstanding (a) 278,852 — 278,852 Loss per share of common stock attributable to EQT Corporation $ (0.15) $ 0.02 $ (0.13)
(a) For the three months ended March 31, 2021, diluted weighted average common stock outstanding did not change because the potentially dilutive securities had an anti-dilutive effect on loss per share.
December 31, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands) Current portion of debt (a) $ 954,900 $ 106,070 $ 1,060,970 Deferred income taxes 938,612 (31,306) 907,306 Common stock, no par value 10,167,963 (96,143) 1
Free historical financial statements for EQT Corp. See how revenue, income, cash flow, and balance sheet financials have changed over 51 quarters since 2012. Compare with EQT stock chart to see long term trends.
Data imported from EQT Corp SEC filings. Check original filings before making any investment decision.