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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Schedule of Property, Plant and Equipment | The following table summarizes the Company's property, plant and equipment.
| December 31,
| 2023 |  | 2022
| (Thousands)
Oil and gas producing properties | $ | 32,510,595 |  |  | $ | 26,890,562 |
Less: Accumulated depreciation and depletion | 10,734,099 |  |  | 9,119,553 |
Net oil and gas producing properties | 21,776,496 |  |  | 17,771,009 |
Other properties, at cost less accumulated depreciation | 1,173,674 |  |  | 396,324 |
Net property, plant and equipment | $ | 22,950,170 |  |  | $ | 18,167,333 |
Summary of Other Current Liabilities | The following table summarizes the Company's other current liabilities.
| December 31,
| 2023 |  | 2022
| (Thousands)
Accrued interest payable | $ | 80,520 |  |  | $ | 88,484 |
Accrued taxes other than income | 62,391 |  |  | 84,755 |
Current portion of lease liabilities | 46,380 |  |  | 35,449 |
Current portion of long-term capacity contracts | 43,233 |  |  | 39,589 |
Accrued incentive compensation | 24,542 |  |  | 50,894 |
Other accrued liabilities | 28,457 |  |  | 42,320 |
Total other current liabilities | $ | 285,523 |  |  | $ | 341,491 |
Reconciliation of Asset Retirement Obligations | The following table presents a reconciliation of the beginning and ending carrying amounts of the Company's asset retirement obligations included in other liabilities and credits in the Consolidated Balance Sheets.
| December 31,
| 2023 |  | 2022
| (Thousands)
Balance at January 1 | $ | 732,803 |  |  | $ | 661,334 |
Accretion expense | 47,700 |  |  | 36,613 |
Liabilities incurred | 10,515 |  |  | 34,363 |
Liabilities settled | (33,938) |  |  | (19,055) |
Liabilities assumed in acquisitions | 64,424 |  |  | — |
Liabilities removed in divestitures | (6,480) |  |  | (697) |
Change in estimates (a) | 96,033 |  |  | 20,245 |
Balance at December 31 | $ | 911,057 |  |  | $ | 732,803 |
(a)During 2023, the Company recorded changes in estimates attributable primarily to inflation on estimated plugging costs.
Summary of Other Operating Expenses | The following table summarizes the Company's other operating expenses.
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (Thousands)
Transactions | $ | 56,263 |  |  | $ | 14,185 |  |  | $ | 57,430 |
Energy transition initiatives | 12,244 |  |  | 11,985 |  |  | — |
Changes in legal and environmental reserves, including settlements | 9,342 |  |  | 30,394 |  |  | 5,175 |
Other | 6,194 |  |  | 767 |  |  | 7,458 |
Total other operating expenses | $ | 84,043 |  |  | $ | 57,331 |  |  | $ | 70,063 |
Schedule of Earnings Per Share, Basic and Diluted | The table below provides the computation for basic and diluted income per share.
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (Thousands, except per share amounts)
Net income (loss) attributable to EQT Corporation – Basic income (loss) available to shareholders | $ | 1,735,232 |  |  | $ | 1,770,965 |  |  | $ | (1,142,747) |
Add back: Interest expense on Convertible Notes, net of tax (a) | 7,551 |  |  | 8,019 |  |  | — |
Diluted income (loss) available to shareholders | $ | 1,742,783 |  |  | $ | 1,778,984 |  |  | $ | (1,142,747) |
Weighted average common stock outstanding – Basic | 380,902 |  |  | 370,048 |  |  | 323,196 |
Options, restricted stock, performance awards and stock appreciation rights (a) | 5,232 |  |  | 5,731 |  |  | — |
Convertible Notes (a) | 27,090 |  |  | 30,716 |  |  | — |
Weighted average common stock outstanding – Diluted | 413,224 |  |  | 406,495 |  |  | 323,196 |
Income (loss) per share of common stock attributable to EQT Corporation: |  |  |  |  |
Basic | $ | 4.56 |  |  | $ | 4.79 |  |  | $ | (3.54) |
Diluted | $ | 4.22 |  |  | $ | 4.38 |  |  | $ | (3.54) |
(a)In periods when the Company reports a net loss, all options, restricted stock, performance awards and stock appreciation rights are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on loss per share. As a result, for the year ended December 31, 2021, all such securities of 8.2 million were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share. The Company uses the if-converted method to calculate the impact of the Convertible Notes on diluted income (loss) per share. For the year ended December 31, 2021, such if-converted securities of approximately 33.3 million were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.
Supplemental Cash Flow Information | The following table summarizes net cash paid for interest and income taxes and non-cash activity included in the Statements of Consolidated Cash Flows.
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (Thousands)
Cash paid during the year for: |  |  |  |  |
Interest, net of amount capitalized | $ | 213,141 |  |  | $ | 236,797 |  |  | $ | 280,511 |
Income taxes, net | 13,350 |  |  | 20,773 |  |  | 19,155 |
Non-cash activity during the period for: |  |  |  |  |
Equity issued as consideration for acquisitions (Note 6) | $ | 2,152,631 |  |  | $ | — |  |  | $ | 1,925,405 |
Issuance of common stock for Convertible Notes settlement | 122,830 |  |  | 63 |  |  | — |
Increase in asset retirement costs and obligations | 106,548 |  |  | 54,608 |  |  | 15,961 |
Increase in right-of-use assets and lease liabilities, net | 45,774 |  |  | 23,356 |  |  | 20,834 |
Dissolution of consolidated variable interest entity | 25,227 |  |  | — |  |  | — |
Capitalization of non-cash equity share-based compensation | 6,287 |  |  | 5,406 |  |  | 4,994 |

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