10-Q Filing

ANTERO MIDSTREAM CORP CIK: 1623925 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-003744`
Period End Date	20190331
Filing Date	20190501
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	amgp-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 31 Cash Flow Statement 56 Stockholders Equity 18 Comprehensive Income 2

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.82M	USD	Point-in-time
Accounts receivable - Antero Resources	`DueFromAffiliateCurrent`	$110.98M	USD	Point-in-time
Accounts receivable - third party	`AccountsReceivableNetCurrent`	$256.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$87.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.52M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$116.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.91M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.66B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Investments in unconsolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$43.49M	USD	Point-in-time
Investments in unconsolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$1.15B	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$1.30M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$3.68M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Customer relationships	`FiniteLivedIntangibleAssetsNet`	$556.22M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	0.00	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	506.64M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$1.14B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	506.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$42.92M	USD	Point-in-time
Total assets	`Assets`	$47.70M	USD	Point-in-time
Total assets	`Assets`	$6.67B	USD	Point-in-time
Accounts payable - Antero Resources	`DueToRelatedPartiesCurrent`	$731.00K	USD	Point-in-time
Accounts payable - Antero Resources	`DueToRelatedPartiesCurrent`	$3.60M	USD	Point-in-time
Accounts payable - third party	`AccountsPayableCurrent`	$22.87M	USD	Point-in-time
Accounts payable - third party	`AccountsPayableCurrent`	$28.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$73.45M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$407.00K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$1.93M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$15.68M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$15.68M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$537.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$118.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.84M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.39B	USD	Point-in-time
Contingent acquisition consideration	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$117.97M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$4.04M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$2.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.63B	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; none authorized, issued or outstanding at December 31, 2018; authorized2,000,000,000; 506,640,947 issued and outstanding at March 31, 2019	`CommonStockValue`	$5.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.01B	USD	Point-in-time
Accumulated earnings	`RetainedEarningsAccumulatedDeficit`	$23.20M	USD	Point-in-time
Total partners' capital and stockholders' equity	`StockholdersEquity`	$30.86M	USD	Point-in-time
Total partners' capital and stockholders' equity	`StockholdersEquity`	$4.04B	USD	Point-in-time
Total liabilities and partners' capital and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.67B	USD	Point-in-time
Total liabilities and partners' capital and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$47.70M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Amortization of customer relationships	`AmortizationOfIntangibleAssets`	$1.78M	USD	1 Quarter
Total revenue	`Revenues`	$54.11M	USD	1 Quarter
Direct operating	`CostOfRevenueExcludingDepreciationAndAmortization`	$14.98M	USD	1 Quarter
General and administrative (including $8,635 and $11,423 of equity-based compensation in 2018 and 2019, respectively)	`GeneralAndAdministrativeExpense`	$9.56M	USD	1 Quarter
General and administrative (including $8,635 and $11,423 of equity-based compensation in 2018 and 2019, respectively)	`GeneralAndAdministrativeExpense`	$19.81M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$7.65M	USD	1 Quarter
Accretion and change in fair value of contingent acquisition consideration	`BusinessAcquisitionContingentConsiderationAccretion`	$1.05M	USD	1 Quarter
Accretion of asset retirement obligations	`ResultsOfOperationsAccretionOfAssetRetirementObligations`	$10.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.56M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$43.50M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-9.56M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$10.61M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-6.22M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$2.88M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$28.45M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$2.88M	USD	Point-in-time
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.27M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.89M	USD	1 Quarter
Provision for income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$2.38M	USD	1 Quarter
Provision for income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-6.09M	USD	1 Quarter
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	`ProfitLoss`	$9.65M	USD	1 Quarter
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	`ProfitLoss`	$12.80M	USD	1 Quarter
Less net income attributable to Series B Units	`NetIncomeLossAttributableToNoncontrollingInterest`	$413.00K	USD	1 Quarter
Limited partners' and common stockholders' interest in net income	`NetIncomeLoss`	$12.39M	USD	1 Quarter
Limited partners' and common stockholders' interest in net income	`NetIncomeLoss`	$9.65M	USD	1 Quarter
Net income per sharebasic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.07	USD	1 Quarter
Net income per sharebasic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.04	USD	1 Quarter
Weighted average common shares outstandingbasic	`WeightedAverageNumberOfSharesOutstandingBasic`	253.88M	shares	1 Quarter
Weighted average common shares outstandingbasic	`WeightedAverageNumberOfSharesOutstandingBasic`	186.19M	shares	1 Quarter
Weighted average common shares outstandingdiluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	186.19M	shares	1 Quarter
Weighted average common shares outstandingdiluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	254.90M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$9.65M	USD	1 Quarter
Net income	`ProfitLoss`	$12.80M	USD	1 Quarter
Distributions received from Antero Midstream Partners LP	`CashDividendsPaidToParentCompanyByConsolidatedSubsidiaries`	$23.77M	USD	1 Quarter
Distributions received from Antero Midstream Partners LP	`CashDividendsPaidToParentCompanyByConsolidatedSubsidiaries`	$43.49M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$7.65M	USD	1 Quarter
Accretion and change in fair value of contingent acquisition consideration	`BusinessAcquisitionContingentConsiderationAccretion`	$1.05M	USD	1 Quarter
Accretion of asset retirement obligations	`ResultsOfOperationsAccretionOfAssetRetirementObligations`	$10.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-2.38M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$8.63M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$11.42M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$2.88M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$28.45M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$2.88M	USD	Point-in-time
Distributions from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$4.78M	USD	Point-in-time
Distributions from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$43.49M	USD	1 Quarter
Distributions from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$4.78M	USD	1 Quarter
Amortization of customer relationships	`AmortizationOfIntangibleAssets`	$1.78M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$251.00K	USD	1 Quarter
Accounts receivable Antero Resources	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-31.33M	USD	1 Quarter
Accounts receivable - third party	`IncreaseDecreaseInAccountsReceivable`	$18.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.36M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$155.00K	USD	1 Quarter
Accounts payable Antero Resources	`IncreaseDecreaseInDueToAffiliates`	$-444.00K	USD	1 Quarter
Accounts payable Antero Resources	`IncreaseDecreaseInDueToAffiliates`	$-15.00K	USD	1 Quarter
Accounts payable - third party	`IncreaseDecreaseInAccountsPayable`	$-1.45M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-32.29M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$565.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$6.09M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.24M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$69.59M	USD	1 Quarter
Additions to gathering systems and facilities	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.68M	USD	1 Quarter
Additions to water handling and treatment systems	`PaymentsToAcquireWaterSystems`	$8.33M	USD	1 Quarter
Investments in unconsolidated affiliates	`PaymentsToAcquireInterestInJointVenture`	$65.73M	USD	1 Quarter
Cash received on acquisition of Antero Midstream Partners LP	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-619.53M	USD	1 Quarter
Cash consideration paid to Antero Midstream Partners LP unitholders	`CashConsiderationPaidToAnteroMidstreamPartnersLpUnitholders`	$598.71M	USD	1 Quarter
Change in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$267.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-61.18M	USD	1 Quarter
Distributions to shareholders	`PaymentsOfDividendsCommonStock`	$13.96M	USD	1 Quarter
Distributions to shareholders	`PaymentsOfDividendsCommonStock`	$30.54M	USD	1 Quarter
Distributions to Series B unitholders	`PaymentsOfCapitalDistribution`	$783.00K	USD	1 Quarter
Distributions to Series B unitholders	`PaymentsOfCapitalDistribution`	$3.72M	USD	1 Quarter
Borrowings on bank credit facilities, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$25.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.75M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.26M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$8.49M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-854.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.97M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.99M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.82M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.48M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.97M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.99M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.82M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.48M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$19.25M	USD	1 Quarter
Increase in accrued capital expenditures and accounts payable for property and equipment	`ChangeInCapitalExpendituresIncurredButNotYetPaid`	$11.93M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`PartnersCapital`	$21.44M	USD	Point-in-time
Balance	`PartnersCapital`	$15.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.04B	USD	Point-in-time
Net (loss) and comprehensive (income) pre-acquisition	`IncomeLossAttributableToParentPreAcquisition`	$-13.55M	USD	1 Quarter
Distributions	`PartnersCapitalAccountDistributions`	$14.75M	USD	1 Quarter
Distributions	`PartnersCapitalAccountDistributions`	$34.26M	USD	1 Quarter
Equity-based compensation pre-acquisition	`StockGrantedDuringPeriodValueSharebasedCompensationPreAcquisition`	$7.03M	USD	1 Quarter
Exchange of shares for shares of common stock and cash consideration paid	`ExchangeOfLimitedPartnerUnitsForSharesOfCommonStockAndCashConsiderationPaid`	$4.02B	USD	1 Quarter
Net income	`ProfitLoss`	$9.65M	USD	1 Quarter
Net income	`ProfitLoss`	$12.80M	USD	1 Quarter
Net income and comprehensive income	`IncomeLossAttributableToParentPostAcquisition`	$23.20M	USD	1 Quarter
Equity-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$4.39M	USD	1 Quarter
Equity-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$7.78M	USD	1 Quarter
Balance	`PartnersCapital`	$21.44M	USD	Point-in-time
Balance	`PartnersCapital`	$15.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.04B	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Equity-based compensation	`ShareBasedCompensation`	$8.63M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$11.42M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.