10-Q Filing

ANTERO MIDSTREAM CORP CIK: 1623925 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-006102`
Period End Date	20220331
Filing Date	20220427
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	am-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 43 Cash Flow Statement 71 Stockholders Equity 20

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable - Antero Resources	`DueFromAffiliateCurrent`	$78.14M	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`	100.00M	shares	Point-in-time
Accounts receivable - Antero Resources	`DueFromAffiliateCurrent`	$81.20M	USD	Point-in-time
Accounts receivable - third party	`AccountsReceivableNetCurrent`	$328.00K	USD	Point-in-time
Accounts receivable - third party	`AccountsReceivableNetCurrent`	$747.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$940.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$940.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$879.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$920.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$80.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$83.80M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.39B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.46B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	477.68M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	477.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	477.68M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	477.50M	shares	Point-in-time
Investments in unconsolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$688.11M	USD	Point-in-time
Investments in unconsolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$696.01M	USD	Point-in-time
Customer relationships	`FiniteLivedIntangibleAssetsNet`	$1.34B	USD	Point-in-time
Customer relationships	`FiniteLivedIntangibleAssetsNet`	$1.36B	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$12.67M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$11.99M	USD	Point-in-time
Total assets	`Assets`	$5.58B	USD	Point-in-time
Total assets	`Assets`	$5.54B	USD	Point-in-time
Accounts payable - Antero Resources	`DueToAffiliateCurrent`	$4.96M	USD	Point-in-time
Accounts payable - Antero Resources	`DueToAffiliateCurrent`	$4.88M	USD	Point-in-time
Accounts payable - third party	`AccountsPayableCurrent`	$23.59M	USD	Point-in-time
Accounts payable - third party	`AccountsPayableCurrent`	$33.09M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$97.02M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$80.84M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.14M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$114.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$139.13M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$3.12B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$3.13B	USD	Point-in-time
Deferred income tax liability	`DeferredIncomeTaxLiabilitiesNet`	$13.72M	USD	Point-in-time
Deferred income tax liability	`DeferredIncomeTaxLiabilitiesNet`	$41.79M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$6.54M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$6.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.32B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.26B	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 2,000,000 authorized; 477,495 and 477,683 issued and outstanding as of December 31, 2021 and March 31, 2022, respectively	`CommonStockValue`	$4.78M	USD	Point-in-time
Common stock, $0.01 par value; 2,000,000 authorized; 477,495 and 477,683 issued and outstanding as of December 31, 2021 and March 31, 2022, respectively	`CommonStockValue`	$4.78M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.41B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.31B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-132.47M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.42B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.29B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.36B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.26B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.54B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.58B	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Equity-based compensation	`ShareBasedCompensation`	$2.83M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$4.01M	USD	1 Quarter
Amortization of customer relationships	`AmortizationOfIntangibleAssets`	$17.67M	USD	1 Quarter
Amortization of customer relationships	`AmortizationOfIntangibleAssets`	$17.67M	USD	1 Quarter
Total revenue	`Revenues`	$218.49M	USD	1 Quarter
Total revenue	`Revenues`	$224.12M	USD	1 Quarter
Direct operating	`CostOfRevenueExcludingDepreciationAndAmortization`	$39.31M	USD	1 Quarter
Direct operating	`CostOfRevenueExcludingDepreciationAndAmortization`	$42.01M	USD	1 Quarter
General and administrative (including $4,012 and $2,832 of equity-based compensation in 2021 and 2022, respectively)	`GeneralAndAdministrativeExpense`	$17.93M	USD	1 Quarter
General and administrative (including $4,012 and $2,832 of equity-based compensation in 2021 and 2022, respectively)	`GeneralAndAdministrativeExpense`	$17.93M	USD	1 Quarter
Facility idling	`FacilityIdling`	$1.15M	USD	1 Quarter
Facility idling	`FacilityIdling`	$1.18M	USD	1 Quarter
Depreciation	`Depreciation`	$28.30M	USD	1 Quarter
Depreciation	`Depreciation`	$26.85M	USD	1 Quarter
Impairment of property and equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.38M	USD	1 Quarter
Accretion of asset retirement obligations	`ResultsOfOperationsAccretionOfAssetRetirementObligations`	$119.00K	USD	1 Quarter
Accretion of asset retirement obligations	`ResultsOfOperationsAccretionOfAssetRetirementObligations`	$64.00K	USD	1 Quarter
Loss (gain) on asset sale	`GainLossOnDispositionOfAssets1`	$-3.76M	USD	1 Quarter
Loss (gain) on asset sale	`GainLossOnDispositionOfAssets1`	$118.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$90.53M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$89.34M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$133.59M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$129.15M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-42.87M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-44.28M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$23.23M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$20.74M	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-22.12M	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-21.05M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$108.11M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$111.47M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$28.07M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$28.02M	USD	1 Quarter
Net income and comprehensive income	`ProfitLoss`	$80.04M	USD	1 Quarter
Net income and comprehensive income	`ProfitLoss`	$83.44M	USD	1 Quarter
Net income per share-basic (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Net income per share-basic (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Net income per share-diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Net income per share-diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	476.85M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	477.65M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	479.27M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	480.17M	shares	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$80.04M	USD	1 Quarter
Net income	`ProfitLoss`	$83.44M	USD	1 Quarter
Depreciation	`Depreciation`	$28.30M	USD	1 Quarter
Depreciation	`Depreciation`	$26.85M	USD	1 Quarter
Accretion	`ResultsOfOperationsAccretionOfAssetRetirementObligations`	$119.00K	USD	1 Quarter
Accretion	`ResultsOfOperationsAccretionOfAssetRetirementObligations`	$64.00K	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$1.38M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$28.07M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$28.02M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$2.83M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$4.01M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$23.23M	USD	1 Quarter
Equity in earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$20.74M	USD	1 Quarter
Distributions from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$31.13M	USD	1 Quarter
Distributions from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$31.91M	USD	1 Quarter
Amortization of customer relationships	`AmortizationOfIntangibleAssets`	$17.67M	USD	1 Quarter
Amortization of customer relationships	`AmortizationOfIntangibleAssets`	$17.67M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.39M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.41M	USD	1 Quarter
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$408.00K	USD	1 Quarter
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$455.00K	USD	1 Quarter
Loss (gain) on asset sale	`GainLossOnDispositionOfAssets1`	$-3.76M	USD	1 Quarter
Loss (gain) on asset sale	`GainLossOnDispositionOfAssets1`	$118.00K	USD	1 Quarter
Accounts receivable-Antero Resources	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$15.05M	USD	1 Quarter
Accounts receivable-Antero Resources	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-3.05M	USD	1 Quarter
Accounts receivable-third party	`IncreaseDecreaseInAccountsReceivable`	$-808.00K	USD	1 Quarter
Accounts receivable-third party	`IncreaseDecreaseInAccountsReceivable`	$-460.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-16.31M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-118.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-593.00K	USD	1 Quarter
Accounts payable-Antero Resources	`IncreaseDecreaseInDueToAffiliates`	$-935.00K	USD	1 Quarter
Accounts payable-Antero Resources	`IncreaseDecreaseInDueToAffiliates`	$230.00K	USD	1 Quarter
Accounts payable-third party	`IncreaseDecreaseInAccountsPayable`	$4.79M	USD	1 Quarter
Accounts payable-third party	`IncreaseDecreaseInAccountsPayable`	$13.76M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.33M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-18.21M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$165.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$184.66M	USD	1 Quarter
Investments in unconsolidated affiliates	`PaymentsToAcquireInterestInJointVenture`	$757.00K	USD	1 Quarter
Cash received in asset sale	`ProceedsFromSaleOfProductiveAssets`	$1.49M	USD	1 Quarter
Cash received in asset sale	`ProceedsFromSaleOfProductiveAssets`	$121.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-84.15M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.65M	USD	1 Quarter
Dividends to stockholders	`PaymentsOfDividendsCommonStock`	$147.19M	USD	Point-in-time
Dividends to stockholders	`PaymentsOfDividendsCommonStock`	$107.46M	USD	Point-in-time
Dividends to stockholders	`PaymentsOfDividendsCommonStock`	$108.15M	USD	1 Quarter
Dividends to stockholders	`PaymentsOfDividendsCommonStock`	$108.15M	USD	Point-in-time
Dividends to stockholders	`PaymentsOfDividendsCommonStock`	$108.80M	USD	Point-in-time
Dividends to stockholders	`PaymentsOfDividendsCommonStock`	$107.72M	USD	Point-in-time
Dividends to stockholders	`PaymentsOfDividendsCommonStock`	$147.19M	USD	1 Quarter
Dividends to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$138.00K	USD	1 Quarter
Dividends to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$138.00K	USD	1 Quarter
Payments of deferred financing costs	`PaymentsOfFinancingCosts`	$302.00K	USD	1 Quarter
Payments of deferred financing costs	`PaymentsOfFinancingCosts`	$543.00K	USD	1 Quarter
Borrowings on bank credit facilities, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$9.40M	USD	1 Quarter
Borrowings on bank credit facilities, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$11.00M	USD	1 Quarter
Employee tax withholding for settlement of equity compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.33M	USD	1 Quarter
Employee tax withholding for settlement of equity compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.54M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-11.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-138.43M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-100.52M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-379.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$640.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$261.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$640.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$261.00K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$58.74M	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$40.68M	USD	1 Quarter
Cash received (paid) during the period for income taxes	`IncomeTaxesPaidNet`	$16.91M	USD	1 Quarter
Increase n accrued capital expenditures and accounts payable for property and equipment	`ChangeInCapitalExpendituresIncurredButNotYetPaid`	$10.39M	USD	1 Quarter
Increase n accrued capital expenditures and accounts payable for property and equipment	`ChangeInCapitalExpendituresIncurredButNotYetPaid`	$780.00K	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$2.42B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.29B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.36B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.26B	USD	Point-in-time
Balance (shares)	`CommonStockSharesOutstanding`	477.68M	shares	Point-in-time
Balance (shares)	`CommonStockSharesOutstanding`	477.50M	shares	Point-in-time
Dividends to stockholders	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$108.29M	USD	1 Quarter
Dividends to stockholders	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$147.33M	USD	1 Quarter
Equity-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$2.83M	USD	1 Quarter
Equity-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$4.01M	USD	1 Quarter
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-1.54M	USD	1 Quarter
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-1.33M	USD	1 Quarter
Net income and comprehensive income	`ProfitLoss`	$80.04M	USD	1 Quarter
Net income and comprehensive income	`ProfitLoss`	$83.44M	USD	1 Quarter
Balance	`StockholdersEquity`	$2.42B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.29B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.36B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.26B	USD	Point-in-time
Balance (shares)	`CommonStockSharesOutstanding`	477.68M	shares	Point-in-time
Balance (shares)	`CommonStockSharesOutstanding`	477.50M	shares	Point-in-time

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