XML 25 R10.htm IDEA: XBRL DOCUMENT
v3.20.1

Business Combination | 3 Months Ended
--- | ---
Mar. 31, 2020
Business Combination |
Business Combination | (3) Business Combination On March 12, 2019, AMGP and Antero Midstream Partners completed the Transactions. The Transactions have been accounted for using the acquisition method of accounting with Antero Midstream Corporation identified as the acquirer of Antero Midstream Partners. The components of the fair value of consideration transferred are as follows (in thousands):
​ | ​ | ​ | ​ | ​
Fair value of shares of AM common stock issued(1) |  | $ | 4,017,881 | ​
Cash | ​ | ​ | 598,709 | ​
Total fair value of consideration transferred | ​ | $ | 4,616,590 | ​
| (1) | The fair value of each share of AM common stock issued in connection with the Transactions was determined to be $12.54, the closing price of AMGP common shares on March 12, 2019.
​ The final purchase price allocation of the Transactions are summarized in the table below. The fair value of assets acquired and liabilities assumed at March 12, 2019, were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​
​ | ​ | As | ​
​ | ​ | Adjusted | ​
Cash and cash equivalents |  | $ | 619,532 | ​
Accounts receivable–Antero Resources | ​ | ​ | 142,312 | ​
Accounts receivable–third party | ​ | ​ | 117 | ​
Other current assets | ​ | ​ | 1,150 | ​
Property and equipment, net | ​ | ​ | 3,371,427 | ​
Investments in unconsolidated affiliates | ​ | ​ | 568,285 | ​
Customer relationships | ​ | ​ | 1,567,000 | ​
Other assets, net | ​ | ​ | 42,887 | ​
Total assets acquired | ​ | ​ | 6,312,710 | ​
​ | ​ | ​ | ​ | ​
Accounts payable–Antero Resources | ​ | ​ | 3,316 | ​
Accounts payable–third party | ​ | ​ | 30,674 | ​
Accrued liabilities | ​ | ​ | 87,021 | ​
Other current liabilities | ​ | ​ | 537 | ​
Long-term debt | ​ | ​ | 2,364,935 | ​
Contingent acquisition consideration | ​ | ​ | 116,924 | ​
Other liabilities | ​ | ​ | 8,524 | ​
Total liabilities assumed | ​ | ​ | 2,611,931 | ​
Net assets acquired, excluding goodwill | ​ | ​ | 3,700,779 | ​
Goodwill | ​ | ​ | 915,811 | ​
Net assets acquired | ​ | $ | 4,616,590 | ​
​ All customer relationships are subject to amortization, which is recognized over a weighted-average period of 23 years for the remaining economic life of the relationship. The purchase price allocation resulted in the recognition of $915 million of goodwill, including $575 million within the Company’s gathering and processing segment and $340 million of goodwill within its water handling segment. Substantially all of the goodwill is expected to be deductible for tax purposes. Goodwill represented the efficiencies realized with simplifying our corporate structure to own, operate and develop midstream energy infrastructure primarily to service Antero Resources. The Company’s unaudited condensed consolidated statement of operations for the three months ended March 31, 2019 include $6 million of acquisition-related costs associated with the Transactions. These costs were expensed as general and administrative costs.

X
- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
Name: | us-gaap_BusinessCombinationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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