XML 48 R23.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Financial Information by Business Segment (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2015
Segment Reporting [Abstract] |
Schedule of revenue from external customers and operating income (loss) and reconciliation to net income | Substantially all of the Company’s operating revenues, income from operations and assets are generated or located in the United States.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
| (Thousands)
Revenues from external customers: |  |  |  |  |  |  |  |  |  |  |
EQT Production | $ | 243,587 |  |  | $ | 373,532 |  |  | $ | 745,781 |  |  | $ | 885,906 |
EQT Midstream | 192,430 |  |  | 162,345 |  |  | 400,656 |  |  | 328,571 |
Less intersegment revenues, net (a) | (2,843 | ) |  | (9,709 | ) |  | (4,490 | ) |  | (26,684 | )
Total | $ | 433,174 |  |  | $ | 526,168 |  |  | $ | 1,141,947 |  |  | $ | 1,187,793 |
Operating (loss) income: |  |  |  |  |  |  |  |  |  |  |
EQT Production (b) | $ | (66,886 | ) |  | $ | 144,689 |  |  | $ | 118,957 |  |  | $ | 421,894 |
EQT Midstream (b) | 108,192 |  |  | 88,527 |  |  | 237,931 |  |  | 171,596 |
Unallocated expenses (c) | (8,272 | ) |  | (8,445 | ) |  | (9,095 | ) |  | (11,928 | )
Total operating income | $ | 33,034 |  |  | $ | 224,771 |  |  | $ | 347,793 |  |  | $ | 581,562 |
Reconciliation of operating income to income from continuing operations:
Total operating income | $ | 33,034 |  |  | $ | 224,771 |  |  | $ | 347,793 |  |  | $ | 581,562 |
Other income | 2,689 |  |  | 2,579 |  |  | 3,628 |  |  | 5,130 |
Interest expense | 36,833 |  |  | 31,873 |  |  | 74,049 |  |  | 63,841 |
Income taxes | (64,857 | ) |  | 59,089 |  |  | (7,543 | ) |  | 175,424 |
Income from continuing operations | $ | 63,747 |  |  | $ | 136,388 |  |  | $ | 284,915 |  |  | $ | 347,427 |
| As of June 30, 2015 |  | As of December 31, 2014
| (Thousands)
Segment assets: |  |  |  |  |
EQT Production | $ | 8,538,111 |  |  | $ | 8,153,199 |
EQT Midstream | 2,989,041 |  |  | 2,709,052 |
Total operating segments | 11,527,152 |  |  | 10,862,251 |
Headquarters assets, including cash and short-term investments | 2,045,178 |  |  | 1,202,649 |
Total assets | $ | 13,572,330 |  |  | $ | 12,064,900 |
(a) | Eliminates intercompany natural gas sales from EQT Production to EQT Midstream.
(b) | Gains on sales / exchanges of assets of $31.0 million and $6.8 million are included in EQT Production and EQT Midstream operating income, respectively, for the three and six months ended June 30, 2014.
(c) | Unallocated expenses consist primarily of incentive compensation expense and administrative costs.
Schedule of segment assets |
| As of June 30, 2015 |  | As of December 31, 2014
| (Thousands)
Segment assets: |  |  |  |  |
EQT Production | $ | 8,538,111 |  |  | $ | 8,153,199 |
EQT Midstream | 2,989,041 |  |  | 2,709,052 |
Total operating segments | 11,527,152 |  |  | 10,862,251 |
Headquarters assets, including cash and short-term investments | 2,045,178 |  |  | 1,202,649 |
Total assets | $ | 13,572,330 |  |  | $ | 12,064,900 |
Schedule of depreciation, depletion and amortization and expenditures for segment assets |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
| (Thousands)
Depreciation, depletion and amortization: |  |  |  |  |  |  |  |  |  |  |
EQT Production | $ | 173,331 |  |  | $ | 136,251 |  |  | $ | 344,794 |  |  | $ | 267,490 |
EQT Midstream | 23,393 |  |  | 21,130 |  |  | 46,588 |  |  | 42,139 |
Other | 95 |  |  | (162 | ) |  | 182 |  |  | (299 | )
Total | $ | 196,819 |  |  | $ | 157,219 |  |  | $ | 391,564 |  |  | $ | 309,330 |
Expenditures for segment assets: |  |  |  |  |  |  |  |  |  |  |
EQT Production (d) | $ | 520,315 |  |  | $ | 932,463 |  |  | $ | 1,002,289 |  |  | $ | 1,343,547 |
EQT Midstream | 164,542 |  |  | 112,305 |  |  | 237,117 |  |  | 197,224 |
Other | 716 |  |  | 802 |  |  | 1,609 |  |  | 1,362 |
Total | $ | 685,573 |  |  | $ | 1,045,570 |  |  | $ | 1,241,015 |  |  | $ | 1,542,133 |
(d) Includes $157.3 million of cash capital expenditures and $353.0 million of non-cash capital expenditures for the exchange of assets with Range Resources Corporation (described in Note L) for the three and six months ended June 30, 2014. Expenditures for segment assets in the EQT Production segment include $88.1 million and $550.5 million for property acquisitions during the three months ended June 30, 2015 and 2014, respectively, and $139.1 million and $609.7 million for property acquisitions during the six months ended June 30, 2015 and 2014, respectively.

X
- Definition Tabular disclosure of depreciation, depletion and amortization expense and expenditures for segment assets. + References No definition available. + Details
Name: | eqt_ScheduleOfSegmentReportingInformationDepreciationDepletionAmortizationAndExpendituresForSegmentAssetsTableTextBlock
Namespace Prefix: | eqt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of reportable segment revenues from external customers and operating income (loss) of the entity and reconciling items to consolidated net income (loss). + References No definition available. + Details
Name: | eqt_ScheduleOfSegmentReportingInformationRevenueFromExternalCustomersOperatingIncomeLossAndReconciliationToNetIncomeTableTextBlock
Namespace Prefix: | eqt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration