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Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
The table below summarizes the Company's outstanding debt.
December 31, 2023December 31, 2022
 Principal ValueCarrying Value (a)Fair Value (b)Principal ValueCarrying Value (a)Fair Value (b)
 (Thousands)
Term Loan Facility due June 30, 2025 (b) (c) (d)$1,250,000 $1,244,265 $1,244,265 $— $— $— 
Senior notes:
7.42% series B notes due 2023
— — — 10,000 10,000 10,110 
6.125% notes due February 1, 2025 (d)
601,521 600,389 605,082 911,467 908,168 915,833 
5.678% notes due October 1, 2025
— — — 500,000 496,578 500,370 
1.75% convertible notes due May 1, 2026
290,177 286,185 768,554 414,832 406,796 967,728 
3.125% notes due May 15, 2026
392,915 389,978 373,261 440,857 436,198 408,454 
7.75% debentures due July 15, 2026
115,000 113,716 121,590 115,000 113,218 124,874 
3.90% notes due October 1, 2027
1,169,503 1,165,439 1,121,027 1,233,008 1,227,582 1,152,875 
5.700% notes due April 1, 2028
500,000 490,376 509,280 500,000 493,941 505,325 
5.00% notes due January 15, 2029
318,494 315,121 316,784 327,101 322,956 313,173 
7.000% notes due February 1, 2030 (d)
674,800 671,020 726,645 714,800 710,138 752,670 
3.625% notes due May 15, 2031
435,165 430,141 389,925 465,165 459,070 406,205 
Note payable to EQM88,483 88,483 91,063 94,320 94,320 95,667 
Total debt5,836,058 5,795,113 6,267,476 5,726,550 5,678,965 6,153,284 
Less: Current portion of debt (e)296,424 292,432 774,983 430,668 422,632 983,758 
Long-term debt$5,539,634 $5,502,681 $5,492,493 $5,295,882 $5,256,333 $5,169,526 
 
(a)For the Company's note payable to EQM, the principal value represents the carrying value. For all other debt, the principal value less the unamortized debt issuance costs and debt discounts represents the carrying value.
(b)The carrying value of borrowings under the Term Loan Facility approximates fair value as its interest rate is based on prevailing market rates; therefore, the Company considers the fair value of the Term Loan Facility to be a Level 1 fair value measurement. The Company measures the fair value of its note payable to EQM using Level 3 inputs. For all other debt, fair value is measured using Level 2 inputs. See Note 4 for a description of the fair value hierarchy.
(c)In January 2024, the Company amended the Term Loan Facility to, among other things, extend the maturity date from June 30, 2025 to June 30, 2026. See below for further discussion of such amendment.
(d)Interest rates for the Term Loan Facility, the Company's senior notes due February 1, 2025 and the Company's senior notes due February 1, 2030 fluctuate based on changes to the credit ratings assigned to the Company's senior notes by Moody's, S&P and Fitch. Interest rates for the Company's other outstanding debt do not fluctuate.
(e)As of December 31, 2023, the current portion of debt included the 1.75% convertible notes and a portion of the note payable to EQM. As of December 31, 2022, the current portion of debt included the 7.42% series B notes, the 1.75% convertible notes and a portion of the note payable to EQM.
Schedule of Debt Instrument Redemption The table below summarizes the Company's redemptions or repurchases of debt during the year ended December 31, 2023.
Debt TranchePrincipalPremiums/(Discounts) (a)Accrued but Unpaid InterestTotal Cost
(Thousands)
6.125% notes due February 1, 2025
$309,946 $1,832 $6,801 $318,579 
5.678% notes due October 1, 2025
500,000 — 6,940 506,940 
3.125% notes due May 15, 2026
47,942 (3,042)296 45,196 
3.90% notes due October 1, 2027
63,505 (3,534)781 60,752 
5.00% notes due January 15, 2029
8,607 (309)137 8,435 
7.000% notes due February 1, 2030
40,000 2,736 1,313 44,049 
3.625% notes due May 15, 2031
30,000 (4,011)167 26,156 
Total$1,000,000 $(6,328)$16,435 $1,010,107 

(a)Includes third-party costs and fees paid to dealer managers and brokers.
Schedule of Convertible Debt
The table below summarizes adjustments made to the conversion rate for the Convertible Notes as a result of cash dividends paid by the Company on EQT Corporation common stock during 2023.

Dividend PaidEffective Date of Adjustment to Conversion RateConversion Shares of EQT Corporation Common Stock per $1,000 Principal Amount
First Quarter of 2023February 17, 202368.0740
Second Quarter of 2023May 9, 202368.3917
Third Quarter of 2023August 8, 202368.6360
Fourth Quarter of 2023November 7, 202368.8912
The table below summarizes settlements of Convertible Notes conversion right exercises for the year ended December 31, 2023 and the period from January 1, 2024 through the Conversion Deadline. The Company settled all such conversions in shares of EQT Corporation common stock. Convertible Notes conversion right exercises are accrued in the period received.
Settlement MonthPrincipal ConvertedShares IssuedAverage Conversion Price
(Thousands)
January 2023$7 473 $33.70 
February 20238 541 30.77 
March 20236 408 31.46 
April 202358 3,948 32.01 
June 20234 272 39.06 
July 202310 682 40.92 
September 20236 411 42.35 
October 20238 547 40.52 
November 2023111,650 7,668,374 43.16 
December 202312,264 844,878 38.04 
January 2024 (a)290,235 20,036,639 38.03 

(a)Includes settlements of Convertible Notes conversion right exercises that were exercised in December 2023 but settled in January 2024.

The table below summarizes the components of interest expense related to the Convertible Notes. The effective interest rate for the Convertible Notes is 2.4%.
 Years Ended December 31,
202320222021
 (Thousands)
Contractual interest expense$6,947 $8,006 $8,750 
Amortization of issuance costs2,220 2,522 2,695 
Total Convertible Notes interest expense$9,167 $10,528 $11,445