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ANTERO RESOURCES Corp

2014 Q2 Form 10-Q Financial Statement

#000110465914035774 Filed on May 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $311.3M $165.0M $61.45M
YoY Change -19.58% 168.46% -88.9%
Cost Of Revenue $130.2M $109.4M $50.70M
YoY Change 116.28% 115.78% 216.88%
Gross Profit $181.1M $58.80M $10.80M
YoY Change -44.6% 444.44% -95.62%
Gross Profit Margin 58.17% 35.64% 17.57%
Selling, General & Admin $72.30M $63.00M $12.70M
YoY Change 431.62% 396.06% 38.04%
% of Gross Profit 39.92% 107.14% 117.59%
Research & Development $6.700M $7.000M $4.400M
YoY Change -8.22% 59.09% 144.44%
% of Gross Profit 3.7% 11.9% 40.74%
Depreciation & Amortization $105.2M $91.21M $40.36M
YoY Change 99.95% 125.96% 150.71%
% of Gross Profit 58.06% 155.11% 373.74%
Operating Expenses $316.6M $269.1M $109.9M
YoY Change 128.2% 144.77% 153.25%
Operating Profit -$5.303M -$104.1M -$48.47M
YoY Change -102.13% 114.73% -109.5%
Interest Expense $37.26M $31.34M $29.93M
YoY Change 11.33% 4.72% -222.66%
% of Operating Profit
Other Income/Expense, Net -$57.65M
YoY Change 72.24%
Pretax Income -$62.95M -$135.4M -$78.40M
YoY Change -129.29% 72.74% -116.13%
Income Tax -$18.45M -$40.66M -$30.40M
% Of Pretax Income
Net Earnings -$42.29M -$94.76M -$48.00M
YoY Change -132.23% 97.43% -114.65%
Net Earnings / Revenue -13.58% -57.44% -78.1%
Basic Earnings Per Share -$0.16 -$0.36 -$0.18
Diluted Earnings Per Share -$0.16 -$0.36 -$0.18
COMMON SHARES
Basic Shares Outstanding 262.0M shares 262.0M shares
Diluted Shares Outstanding 262.0M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.00M $13.00M $5.000M
YoY Change 72.73% 160.0%
Cash & Equivalents $19.27M $12.58M $4.806M
Short-Term Investments
Other Short-Term Assets $5.695M $4.405M $101.0M
YoY Change -97.38% -95.64%
Inventory
Prepaid Expenses
Receivables $46.53M $27.25M $84.00M
Other Receivables $1.000M $1.000M $6.000M
Total Short-Term Assets $387.2M $321.9M $195.0M
YoY Change 18.06% 65.09%
LONG-TERM ASSETS
Property, Plant & Equipment $7.212B $6.266B $3.534B
YoY Change 76.98% 77.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $91.93M $45.43M $363.0M
YoY Change -78.27% -87.49%
Total Long-Term Assets $7.658B $6.813B $3.898B
YoY Change 70.29% 74.78%
TOTAL ASSETS
Total Short-Term Assets $387.2M $321.9M $195.0M
Total Long-Term Assets $7.658B $6.813B $3.898B
Total Assets $8.045B $7.134B $4.093B
YoY Change 66.73% 74.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $500.8M $428.9M $267.0M
YoY Change 114.01% 60.65%
Accrued Expenses $116.0M $125.1M $88.00M
YoY Change 38.14% 42.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $25.00M
YoY Change
Total Short-Term Liabilities $860.7M $760.8M $473.0M
YoY Change 80.07% 60.85%
LONG-TERM LIABILITIES
Long-Term Debt $3.371B $2.536B $1.863B
YoY Change 39.41% 36.12%
Other Long-Term Liabilities $41.65M $40.87M $40.00M
YoY Change -7.44% 2.17%
Total Long-Term Liabilities $41.65M $40.87M $1.903B
YoY Change -98.31% -97.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $860.7M $760.8M $473.0M
Total Long-Term Liabilities $41.65M $40.87M $1.903B
Total Liabilities $4.522B $3.601B $2.467B
YoY Change 47.39% 45.98%
SHAREHOLDERS EQUITY
Retained Earnings $56.82M $99.10M
YoY Change
Common Stock $2.620M $2.620M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.523B $3.533B $1.626B
YoY Change
Total Liabilities & Shareholders Equity $8.045B $7.134B $4.093B
YoY Change 66.74% 74.31%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$42.29M -$94.76M -$48.00M
YoY Change -132.23% 97.43% -114.65%
Depreciation, Depletion And Amortization $105.2M $91.21M $40.36M
YoY Change 99.95% 125.96% 150.71%
Cash From Operating Activities $223.7M $274.3M $110.2M
YoY Change 172.14% 148.9% 9.66%
INVESTING ACTIVITIES
Capital Expenditures $983.1M $731.7M $549.7M
YoY Change 55.37% 33.12% -722.48%
Acquisitions
YoY Change
Other Investing Activities -$35.30M $3.807M -$1.768M
YoY Change -95.33% -315.33% -100.83%
Cash From Investing Activities -$1.018B -$735.5M -$547.9M
YoY Change 61.52% 34.25% -539.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 801.3M $456.3M $423.5M
YoY Change 44.53% 7.75% -290.76%
NET CHANGE
Cash From Operating Activities 223.7M $274.3M $110.2M
Cash From Investing Activities -1.018B -$735.5M -$547.9M
Cash From Financing Activities 801.3M $456.3M $423.5M
Net Change In Cash 6.600M -$4.907M -$14.18M
YoY Change 8.2% -65.4% -543.22%
FREE CASH FLOW
Cash From Operating Activities $223.7M $274.3M $110.2M
Capital Expenditures $983.1M $731.7M $549.7M
Free Cash Flow -$759.4M -$457.4M -$439.4M
YoY Change 37.94% 4.09% -332.76%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2014Q1 us-gaap Prior Period Reclassification Adjustment Description
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EarningsPerShareBasic
-0.18
CY2014Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
21039000 USD
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2013Q1 arf Payments For Proceeds From Settled Derivative Instruments Operating Activities
PaymentsForProceedsFromSettledDerivativeInstrumentsOperatingActivities
-48131000 USD
CY2014Q1 us-gaap Natural Gas Production Revenue
NaturalGasProductionRevenue
312336000 USD
CY2014Q1 arf Natural Gas Liquids Revenues
NaturalGasLiquidsRevenues
73928000 USD
CY2014Q1 arf Oil Revenue
OilRevenue
24122000 USD
CY2014Q1 arf Derivative Instruments Gain Loss Recognized On Commodity Derivative Instrument In Income Net
DerivativeInstrumentsGainLossRecognizedOnCommodityDerivativeInstrumentInIncomeNet
-248929000 USD
CY2014Q1 us-gaap Revenues
Revenues
164981000 USD
CY2014Q1 us-gaap Oil And Gas Production Expense
OilAndGasProductionExpense
4869000 USD
CY2014Q1 us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
92265000 USD
CY2014Q1 us-gaap Exploration Expense
ExplorationExpense
6997000 USD
CY2014Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
1397000 USD
CY2014Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
91206000 USD
CY2014Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
302000 USD
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
50985000 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
269060000 USD
CY2014Q1 arf Payments For Proceeds From Settled Derivative Instruments Operating Activities
PaymentsForProceedsFromSettledDerivativeInstrumentsOperatingActivities
1071000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-104079000 USD
CY2014Q1 us-gaap Interest Expense
InterestExpense
31342000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-135421000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-94759000 USD
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2014Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-248929000 USD
CY2013Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-71941000 USD
CY2014Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-40662000 USD
CY2013Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-30400000 USD
CY2014Q1 us-gaap Other Noncash Expense
OtherNoncashExpense
3182000 USD
CY2013Q1 us-gaap Other Noncash Expense
OtherNoncashExpense
1387000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3360000 USD
CY2013Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10545000 USD
CY2014Q1 arf Increase Decrease In Accrued Revenue
IncreaseDecreaseInAccruedRevenue
48850000 USD
CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
96000 USD
CY2014Q1 arf Increase Decrease In Revenue Distributions Payable
IncreaseDecreaseInRevenueDistributionsPayable
39974000 USD
CY2013Q1 arf Increase Decrease In Revenue Distributions Payable
IncreaseDecreaseInRevenueDistributionsPayable
7037000 USD
CY2014Q1 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
60149000 USD
CY2013Q1 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
148972000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
274307000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
110207000 USD
CY2014Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
496221000 USD
CY2013Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
334965000 USD
CY2014Q1 us-gaap Payments To Acquire Water Systems
PaymentsToAcquireWaterSystems
60030000 USD
CY2013Q1 us-gaap Payments To Acquire Water Systems
PaymentsToAcquireWaterSystems
9020000 USD
CY2014Q1 us-gaap Payments To Acquire Oil And Gas Equipment
PaymentsToAcquireOilAndGasEquipment
107523000 USD
CY2013Q1 us-gaap Payments To Acquire Oil And Gas Equipment
PaymentsToAcquireOilAndGasEquipment
55975000 USD
CY2014Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
7783000 USD
CY2013Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
721000 USD
CY2014Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3807000 USD
CY2013Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1768000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-735513000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-547885000 USD
CY2014Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
457000000 USD
CY2013Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
187000000 USD
CY2014Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
701000 USD
CY2013Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3014000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
456299000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
423495000 USD
CY2014Q1 us-gaap Interest Paid
InterestPaid
13087000 USD
CY2013Q1 us-gaap Interest Paid
InterestPaid
16160000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4907000 USD
CY2014Q1 arf Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
64016000 USD
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2013Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
8619000 USD
CY2014Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2300000 USD
CY2014Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y

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