2021 Q1 Form 10-Q Financial Statement

#000003321321000012 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $949.9M $1.107B
YoY Change -14.19% -3.16%
Cost Of Revenue $445.8M $439.8M
YoY Change 1.35% 0.13%
Gross Profit $504.1M $667.2M
YoY Change -24.44% -5.21%
Gross Profit Margin 53.07% 60.27%
Selling, General & Admin $45.01M $34.94M
YoY Change 28.82% -28.67%
% of Gross Profit 8.93% 5.24%
Research & Development $900.0K $900.0K
YoY Change 0.0% -10.0%
% of Gross Profit 0.18% 0.13%
Depreciation & Amortization $377.1M $357.5M
YoY Change 5.48% -8.59%
% of Gross Profit 74.8% 53.58%
Operating Expenses $45.01M $34.94M
YoY Change 28.82% -28.67%
Operating Profit $8.845M $123.4M
YoY Change -92.83% -29.69%
Interest Expense $70.47M $62.37M
YoY Change 12.98% 10.25%
% of Operating Profit 796.76% 50.56%
Other Income/Expense, Net $3.304M $24.71M
YoY Change -86.63% 17.76%
Pretax Income -$50.90M -$134.3M
YoY Change -62.1% -158.67%
Income Tax -$12.96M $32.82M
% Of Pretax Income
Net Earnings -$37.43M -$167.1M
YoY Change -77.61% -187.65%
Net Earnings / Revenue -3.94% -15.1%
Basic Earnings Per Share -$0.13 -$0.65
Diluted Earnings Per Share -$0.13 -$0.65
COMMON SHARES
Basic Shares Outstanding 278.9M shares 255.4M shares
Diluted Shares Outstanding 278.9M shares 255.4M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.00M $19.00M
YoY Change 115.79% -53.66%
Cash & Equivalents $40.67M $18.65M
Short-Term Investments
Other Short-Term Assets $591.0M $1.097B
YoY Change -46.13% 180.56%
Inventory
Prepaid Expenses
Receivables $682.5M $441.1M
Other Receivables $0.00 $392.0M
Total Short-Term Assets $1.314B $1.948B
YoY Change -32.56% 41.16%
LONG-TERM ASSETS
Property, Plant & Equipment $15.90B $15.97B
YoY Change -0.42% -8.52%
Goodwill
YoY Change
Intangibles $18.53M
YoY Change -72.34%
Long-Term Investments $127.0M
YoY Change -88.48%
Other Assets $437.7M $191.9M
YoY Change 128.12% -43.13%
Total Long-Term Assets $16.73B $16.69B
YoY Change 0.24% -11.99%
TOTAL ASSETS
Total Short-Term Assets $1.314B $1.948B
Total Long-Term Assets $16.73B $16.69B
Total Assets $18.04B $18.63B
YoY Change -3.19% -8.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $812.3M $692.3M
YoY Change 17.34% -21.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $29.29M $16.26M
YoY Change 80.19% -97.69%
Total Short-Term Liabilities $1.750B $1.473B
YoY Change 18.79% -32.59%
LONG-TERM LIABILITIES
Long-Term Debt $4.777B $5.021B
YoY Change -4.86% 15.61%
Other Long-Term Liabilities $923.8M $893.9M
YoY Change 3.34% 10.14%
Total Long-Term Liabilities $923.8M $893.9M
YoY Change 3.34% 10.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.750B $1.473B
Total Long-Term Liabilities $923.8M $893.9M
Total Liabilities $8.809B $9.001B
YoY Change -2.13% -2.17%
SHAREHOLDERS EQUITY
Retained Earnings $1.008B $1.848B
YoY Change -45.48% -45.12%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $21.47M $30.85M
YoY Change -30.41% -22.22%
Treasury Stock Shares 1.222M shares 1.741M shares
Shareholders Equity $9.220B $9.634B
YoY Change
Total Liabilities & Shareholders Equity $18.04B $18.63B
YoY Change -3.19% -8.38%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$37.43M -$167.1M
YoY Change -77.61% -187.65%
Depreciation, Depletion And Amortization $377.1M $357.5M
YoY Change 5.48% -8.59%
Cash From Operating Activities $399.9M $500.3M
YoY Change -20.06% -42.58%
INVESTING ACTIVITIES
Capital Expenditures $251.3M $256.2M
YoY Change -1.9% -30.96%
Acquisitions
YoY Change
Other Investing Activities -$3.367M -$140.0K
YoY Change 2305.0% -79.91%
Cash From Investing Activities -$247.9M -$203.7M
YoY Change 21.71% -45.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $126.4M $1.701B
YoY Change -92.57% 148999.39%
Cash From Financing Activities -$129.5M -$282.5M
YoY Change -54.15% -39.06%
NET CHANGE
Cash From Operating Activities $399.9M $500.3M
Cash From Investing Activities -$247.9M -$203.7M
Cash From Financing Activities -$129.5M -$282.5M
Net Change In Cash $22.46M $14.06M
YoY Change 59.8% -62.38%
FREE CASH FLOW
Cash From Operating Activities $399.9M $500.3M
Capital Expenditures $251.3M $256.2M
Free Cash Flow $148.6M $244.1M
YoY Change -39.11% -51.2%

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CY2020Q1 us-gaap Other Operating Activities Cash Flow Statement
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0 USD
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500000000 USD
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ProceedsFromIssuanceOfDebt
1750000000 USD
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0 USD
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PaymentsOfDebtIssuanceCosts
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ProceedsFromMinorityShareholders
0 USD
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
22460000 USD
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0.03
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14055000 USD
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q1 us-gaap Interest Paid Net
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InterestPaidNet
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CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
22751000 USD
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IncomeTaxesPaidNet
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CY2021Q1 eqt Increase Decreasein Rightof Use Lease Assetsand Lease Liabilities
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783000 USD
CY2020Q1 eqt Increase Decreasein Rightof Use Lease Assetsand Lease Liabilities
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303000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Period Increase Decrease
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CY2020Q1 us-gaap Asset Retirement Obligation Period Increase Decrease
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CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2020Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2021Q1 us-gaap Preferred Stock Shares Issued
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CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q1 us-gaap Profit Loss
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CY2021Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2021Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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4838000 USD
CY2021Q1 eqt Noncontrolling Interest Increase In Contributions From Noncontrolling Interest Holders
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3750000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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9230366000 USD
CY2020Q1 us-gaap Common Stock Shares Authorized
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320000 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
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640000000 shares
CY2021Q1 us-gaap Preferred Stock Shares Authorized
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CY2020Q4 us-gaap Contract With Customer Asset Net
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CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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CY2020Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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389436000 USD
CY2021Q1 us-gaap Revenues
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CY2020Q1 us-gaap Revenues
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1107057000 USD
CY2020Q4 us-gaap Collateral Already Posted Aggregate Fair Value
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21100000 USD
CY2021Q1 eqt Maximum Additional Collateral As Percentage Of Derivative Liability
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1
CY2021Q1 us-gaap Derivative Net Liability Position Aggregate Fair Value
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CY2020Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
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137700000 USD
CY2021Q1 us-gaap Collateral Already Posted Aggregate Fair Value
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0 USD
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.261
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020Q2 eqt Payment Of Debt Premium Charges
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32500000 USD
CY2020Q2 eqt Debt Instrument Convertible Threshold Trading Days Measurement Period
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5 D
CY2020Q2 eqt Debt Instrument Convertible Consecutive Trading Days Measurement Period
DebtInstrumentConvertibleConsecutiveTradingDaysMeasurementPeriod
5 D
CY2020Q2 us-gaap Debt Instrument Redemption Price Percentage
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1
CY2020Q2 eqt Debt Instrument Conversion Strike Price
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15.00
CY2020Q2 eqt Debt Instrument Conversion Cap Price
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18.75
CY2020Q2 eqt Stock Issued During Period Equity Component Of Convertible Debt
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63600000 USD
CY2020Q2 eqt Payment Of Debt Premium Charges
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32500000 USD
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7745522 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q1 eqt Number Of Share Purchase Agreements
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2 numberOfWell
CY2020Q1 eqt Contract Asset
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410000000 USD
CY2020Q1 us-gaap Realized Investment Gains Losses
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187000000 USD
CY2020Q1 eqt Contract Asset Amortization Term
ContractAssetAmortizationTerm
P4Y
CY2021Q1 eqt Contract Asset Current
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20000000 USD

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