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v3.25.1

Reportable Segments (Tables) | 3 Months Ended
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Mar. 31, 2025
Reportable Segments |
Schedule of operating results and assets of reportable segments | The operating results and assets of the Company’s reportable segments were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2024 | ​
​ | ​ | ​ | ​ | ​ | ​ | Equity Method | ​ | ​ | ​ | ​ | ​
​ | ​ | Exploration | ​ | ​ | ​ | Investment in | ​ | Elimination of | ​ | ​ | ​
​ | ​ | and | ​ | ​ | ​ | Antero | ​ | Unconsolidated | ​ | Consolidated | ​
​ |  | Production |  | Marketing |  | Midstream (1) |  | Affiliate |  | Total |
Sales and revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Third-party | ​ | $ | 1,073,169 | ​ | ​ | 48,520 | ​ | ​ | 671 | ​ | ​ | (671) | ​ | ​ | 1,121,689 | ​
Intersegment | ​ |  | 582 | ​ | ​ | — | ​ | ​ | 278,380 | ​ | ​ | (278,380) | ​ | ​ | 582 | ​
Total revenue | ​ | ​ | 1,073,751 | ​ | ​ | 48,520 | ​ | ​ | 279,051 | ​ | ​ | (279,051) | ​ | ​ | 1,122,271 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease operating | ​ | ​ | 29,121 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 29,121 | ​
Gathering and compression | ​ | ​ | 223,530 | ​ | ​ | — | ​ | ​ | 26,143 | ​ | ​ | (26,143) | ​ | ​ | 223,530 | ​
Processing | ​ | ​ | 255,795 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 255,795 | ​
Transportation | ​ | ​ | 192,956 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 192,956 | ​
Water handling | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 27,775 | ​ | ​ | (27,775) | ​ | ​ | — | ​
Production and ad valorem taxes | ​ | ​ | 58,168 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 58,168 | ​
Marketing | ​ | ​ | — | ​ | ​ | 59,813 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 59,813 | ​
General and administrative (excluding equity-based compensation) | ​ | ​ | 39,785 | ​ | ​ | — | ​ | ​ | 11,894 | ​ | ​ | (11,894) | ​ | ​ | 39,785 | ​
Equity-based compensation | ​ | ​ | 16,077 | ​ | ​ | — | ​ | ​ | 9,327 | ​ | ​ | (9,327) | ​ | ​ | 16,077 | ​
Facility idling | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 522 | ​ | ​ | (522) | ​ | ​ | — | ​
Depletion, depreciation and amortization | ​ | ​ | 190,475 | ​ | ​ | — | ​ | ​ | 37,095 | ​ | ​ | (37,095) | ​ | ​ | 190,475 | ​
Impairment of property and equipment | ​ | ​ | 5,190 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,190 | ​
Other (2) | ​ | ​ | 3,622 | ​ | ​ | — | ​ | ​ | 44 | ​ | ​ | (44) | ​ | ​ | 3,622 | ​
Total operating expenses | ​ | ​ | 1,014,719 | ​ | ​ | 59,813 | ​ | ​ | 112,800 | ​ | ​ | (112,800) | ​ | ​ | 1,074,532 | ​
Operating income (loss) | ​ | $ | 59,032 | ​ | ​ | (11,293) | ​ | ​ | 166,251 | ​ | ​ | (166,251) | ​ | ​ | 47,739 | ​
Equity in earnings of unconsolidated affiliates | ​ | $ | 23,347 | ​ | ​ | — | ​ | ​ | 27,530 | ​ | ​ | (27,530) | ​ | ​ | 23,347 | ​
Capital expenditures for segment assets | ​ | $ | 222,449 | ​ | ​ | — | ​ | ​ | 35,073 | ​ | ​ | (35,073) | ​ | ​ | 222,449 | ​
(1) | Amounts reflect those recorded in Antero Midstream’s unaudited condensed consolidated financial statements.
(2) | Amounts include charges for exploration, accretion of asset retirement obligations, loss on settlement of asset retirement obligations, contract termination, loss contingency and settlements, loss (gain) on sale of assets and other operating expenses, as applicable, which represent segment operating expenses that are not considered significant.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2025 | ​
​ | ​ | ​ | ​ | ​ | ​ | Equity Method | ​ | ​ | ​ | ​ | ​
​ | ​ | Exploration | ​ | ​ | ​ | Investment in | ​ | Elimination of | ​ | ​ | ​
​ | ​ | and | ​ | ​ | ​ | Antero | ​ | Unconsolidated | ​ | Consolidated | ​
​ |  | Production |  | Marketing |  | Midstream (1) |  | Affiliate |  | Total |
Sales and revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Third-party | ​ | $ | 1,326,601 | ​ | ​ | 25,558 | ​ | ​ | 505 | ​ | ​ | (505) | ​ | ​ | 1,352,159 | ​
Intersegment | ​ |  | 548 | ​ | ​ | — | ​ | ​ | 290,624 | ​ | ​ | (290,624) | ​ | ​ | 548 | ​
Total revenue | ​ | ​ | 1,327,149 | ​ | ​ | 25,558 | ​ | ​ | 291,129 | ​ | ​ | (291,129) | ​ | ​ | 1,352,707 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease operating | ​ | ​ | 33,986 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 33,986 | ​
Gathering and compression | ​ | ​ | 236,134 | ​ | ​ | — | ​ | ​ | 26,193 | ​ | ​ | (26,193) | ​ | ​ | 236,134 | ​
Processing | ​ | ​ | 261,155 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 261,155 | ​
Transportation | ​ | ​ | 197,728 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 197,728 | ​
Water handling | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 30,637 | ​ | ​ | (30,637) | ​ | ​ | — | ​
Production and ad valorem taxes | ​ | ​ | 55,299 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 55,299 | ​
Marketing | ​ | ​ | — | ​ | ​ | 42,770 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 42,770 | ​
General and administrative (excluding equity-based compensation) | ​ | ​ | 47,300 | ​ | ​ | — | ​ | ​ | 10,622 | ​ | ​ | (10,622) | ​ | ​ | 47,300 | ​
Equity-based compensation | ​ | ​ | 15,145 | ​ | ​ | — | ​ | ​ | 12,402 | ​ | ​ | (12,402) | ​ | ​ | 15,145 | ​
Facility idling | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 443 | ​ | ​ | (443) | ​ | ​ | — | ​
Depletion, depreciation and amortization | ​ | ​ | 186,352 | ​ | ​ | — | ​ | ​ | 32,748 | ​ | ​ | (32,748) | ​ | ​ | 186,352 | ​
Impairment of property and equipment | ​ | ​ | 5,618 | ​ | ​ | — | ​ | ​ | 817 | ​ | ​ | (817) | ​ | ​ | 5,618 | ​
Other (2) | ​ | ​ | (252) | ​ | ​ | — | ​ | ​ | 44 | ​ | ​ | (44) | ​ | ​ | (252) | ​
Total operating expenses | ​ | ​ | 1,038,465 | ​ | ​ | 42,770 | ​ | ​ | 113,906 | ​ | ​ | (113,906) | ​ | ​ | 1,081,235 | ​
Operating income (loss) | ​ | $ | 288,684 | ​ | ​ | (17,212) | ​ | ​ | 177,223 | ​ | ​ | (177,223) | ​ | ​ | 271,472 | ​
Equity in earnings of unconsolidated affiliates | ​ | $ | 28,661 | ​ | ​ | — | ​ | ​ | 28,020 | ​ | ​ | (28,020) | ​ | ​ | 28,661 | ​
Capital expenditures for segment assets | ​ | $ | 206,145 | ​ | ​ | — | ​ | ​ | 30,528 | ​ | ​ | (30,528) | ​ | ​ | 206,145 | ​
(1) | Amounts reflect those recorded in Antero Midstream’s unaudited condensed consolidated financial statements.
(2) | Amounts include charges for exploration, accretion of asset retirement obligations, loss on settlement of asset retirement obligations, contract termination, loss contingency and settlements, loss (gain) on sale of assets and other operating expenses, as applicable, which represent segment operating expenses that are not considered significant.
The summarized assets of the Company’s reportable segments are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2024 | ​
​ | ​ | ​ | ​ | ​ | ​ | Equity Method | ​ | ​ | ​ | ​ | ​
​ | ​ | Exploration | ​ | ​ | ​ | Investment in | ​ | Elimination of | ​ | ​ | ​
​ | ​ | and | ​ | ​ | ​ | Antero | ​ | Unconsolidated | ​ | Consolidated | ​
​ |  | Production |  | Marketing |  | Midstream (1) |  | Affiliate |  | Total | ​
Investments in unconsolidated affiliates | ​ | $ | 231,048 | ​ | ​ | — | ​ | ​ | 603,956 | ​ | ​ | (603,956) | ​ | ​ | 231,048 | ​
Total assets | ​ | ​ | 12,999,930 | ​ | ​ | 10,120 | ​ | ​ | 5,761,748 | ​ | ​ | (5,761,748) | ​ | ​ | 13,010,050 | ​
(1) | Amounts reflect those recorded in Antero Midstream’s condensed consolidated financial statements.
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of March 31, 2025 | ​
​ | ​ | ​ | ​ | ​ | ​ | Equity Method | ​ | ​ | ​ | ​ | ​
​ | ​ | Exploration | ​ | ​ | ​ | Investment in | ​ | Elimination of | ​ | ​ | ​
​ | ​ | and | ​ | ​ | ​ | Antero | ​ | Unconsolidated | ​ | Consolidated | ​
​ |  | Production |  | Marketing |  | Midstream (1) |  | Affiliate |  | Total |
Investments in unconsolidated affiliates | ​ | $ | 239,672 | ​ | ​ | — | ​ | ​ | 600,349 | ​ | ​ | (600,349) | ​ | ​ | 239,672 | ​
Total assets | ​ | ​ | 13,040,550 | ​ | ​ | 8,771 | ​ | ​ | 5,752,118 | ​ | ​ | (5,752,118) | ​ | ​ | 13,049,321 | ​
(1) | Amounts reflect those recorded in Antero Midstream’s unaudited condensed consolidated financial statements.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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