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Financial Information by Business Segment | 3 Months Ended
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Mar. 31, 2017
Segment Reporting [Abstract] |
Financial Information by Business Segment | Financial Information by Business Segment Operating segments are revenue-producing components of the enterprise for which separate financial information is produced internally and which are subject to evaluation by the Company’s chief operating decision maker in deciding how to allocate resources. The Company reports its operations in three segments, which reflect its lines of business: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes the Company’s exploration for, and development and production of, natural gas, natural gas liquids (NGLs) and a limited amount of crude oil, primarily in the Appalachian Basin. The EQT Production segment also includes the marketing activities of the Company. The operations of EQT Gathering include the natural gas gathering activities of the Company, consisting solely of assets that are owned and operated by EQM. The operations of EQT Transmission include the natural gas transmission and storage activities of the Company, consisting solely of assets that are owned and operated by EQM. Operating segments are evaluated on their contribution to the Company’s consolidated results based on operating income. Other income, interest and income taxes are managed on a consolidated basis. Headquarters’ costs are billed to the operating segments based upon an allocation of the headquarters’ annual operating budget. Differences between budget and actual headquarters’ expenses are not allocated to the operating segments. Substantially all of the Company’s operating revenues, income from operations and assets are generated or located in the United States.
Three Months Ended March 31, 2017 | EQT Production |  | EQT Gathering |  | EQT Transmission |  | Intersegment Eliminations |  | EQT Corporation
Revenues: | (Thousands)
Sales of natural gas, oil and NGLs | $ | 673,465 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 673,465 |
Pipeline and net marketing services | 14,455 |  |  | 102,329 |  |  | 101,097 |  |  | (134,565 | ) |  | 83,316 |
Gain on derivatives not designated as hedges | 140,742 |  |  | — |  |  | — |  |  | — |  |  | 140,742 |
Total operating revenues | $ | 828,662 |  |  | $ | 102,329 |  |  | $ | 101,097 |  |  | $ | (134,565 | ) |  | $ | 897,523 |
Three Months Ended March 31, 2016 | EQT Production |  | EQT Gathering |  | EQT Transmission |  | Intersegment Eliminations |  | EQT Corporation
Revenues: | (Thousands)
Sales of natural gas, oil and NGLs | $ | 364,427 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 364,427 |
Pipeline and net marketing services | 10,285 |  |  | 98,009 |  |  | 87,777 |  |  | (124,424 | ) |  | 71,647 |
Gain on derivatives not designated as hedges | 108,995 |  |  | — |  |  | — |  |  | — |  |  | 108,995 |
Total operating revenues | $ | 483,707 |  |  | $ | 98,009 |  |  | $ | 87,777 |  |  | $ | (124,424 | ) |  | $ | 545,069 |
| Three Months Ended March 31,
| 2017 |  | 2016
| (Thousands)
Operating income (loss): |  |  |  |  |
EQT Production | $ | 257,430 |  |  | $ | (5,478 | )
EQT Gathering | 73,589 |  |  | 72,604 |
EQT Transmission | 71,524 |  |  | 64,516 |
Unallocated expenses (a) | (11,899 | ) |  | (4,441 | )
Total operating income | $ | 390,644 |  |  | $ | 127,201 |
(a) | Unallocated expenses consist primarily of compensation expense and administrative costs.
Reconciliation of operating income to net income:
| Three Months Ended March 31,
| 2017 |  | 2016
| (Thousands)
Total operating income | $ | 390,644 |  |  | $ | 127,201 |
Other income | 3,381 |  |  | 4,840 |
Interest expense | 42,655 |  |  | 36,180 |
Income tax expense | 100,665 |  |  | 7,436 |
Net income | $ | 250,705 |  |  | $ | 88,425 |
| As of March 31, 2017 |  | As of December 31, 2016
| (Thousands)
Segment assets: |  |  |  |  |
EQT Production | $ | 11,577,963 |  |  | $ | 10,923,824 |
EQT Gathering | 1,279,944 |  |  | 1,225,686 |
EQT Transmission | 1,413,061 |  |  | 1,399,201 |
Total operating segments | 14,270,968 |  |  | 13,548,711 |
Headquarters assets, including cash and short-term investments | 1,375,646 |  |  | 1,924,211 |
Total assets | $ | 15,646,614 |  |  | $ | 15,472,922 |
| Three Months Ended March 31,
| 2017 |  | 2016
| (Thousands)
Depreciation, depletion and amortization: |  |  |  |  |
EQT Production | $ | 211,097 |  |  | $ | 205,676 |
EQT Gathering | 8,860 |  |  | 7,263 |
EQT Transmission | 11,687 |  |  | 6,744 |
Other | 274 |  |  | 1,548 |
Total | $ | 231,918 |  |  | $ | 221,231 |
Expenditures for segment assets (b): |  |  |  |  |
EQT Production (c) | $ | 945,458 |  |  | $ | 237,566 |
EQT Gathering | 48,838 |  |  | 73,087 |
EQT Transmission | 21,389 |  |  | 60,071 |
Other | 1,628 |  |  | 2,822 |
Total | $ | 1,017,313 |  |  | $ | 373,546 |
(b) | Includes the capitalized portion of non-cash stock-based compensation expense and the impact of capital accruals.
(c) | Expenditures for segment assets in the EQT Production segment included $45.3 million and $33.3 million for general leasing activity during the three months ended March 31, 2017 and 2016, respectively. The three months ended March 31, 2017 also includes $669.5 million of cash capital expenditures and $15.4 million of non-cash capital expenditures for the acquisitions discussed in Note M.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: 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=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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