$EQT
EQT Corp

2012 Q2 Form 10-Q Financial Statement

#000110465912051449 Filed on July 26, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $298.7M $367.8M
YoY Change -18.77% 42.83%
Cost Of Revenue $62.20M $60.00M
YoY Change 3.67% 84.62%
Gross Profit $275.6M $307.8M
YoY Change -10.46% 36.8%
Gross Profit Margin 92.25% 83.69%
Selling, General & Admin $41.78M $40.94M
YoY Change 2.06% -7.8%
% of Gross Profit 15.16% 13.3%
Research & Development $1.900M $1.200M
YoY Change 58.33% 9.09%
% of Gross Profit 0.69% 0.39%
Depreciation & Amortization $115.7M $81.89M
YoY Change 41.27% 25.59%
% of Gross Profit 41.97% 26.6%
Operating Expenses $41.78M $40.94M
YoY Change 2.06% -72.06%
Operating Profit $70.82M $153.2M
YoY Change -53.77% 95.12%
Interest Expense -$40.60M -$33.30M
YoY Change 21.92% -9.02%
% of Operating Profit -57.33% -21.74%
Other Income/Expense, Net $5.200M $18.00M
YoY Change -71.11% 252.94%
Pretax Income $46.02M $137.9M
YoY Change -66.63% 193.47%
Income Tax $14.58M $50.18M
% Of Pretax Income 31.67% 36.38%
Net Earnings $31.45M $87.80M
YoY Change -64.18% 192.67%
Net Earnings / Revenue 10.53% 23.87%
Basic Earnings Per Share $0.21 $0.59
Diluted Earnings Per Share $0.21 $0.58
COMMON SHARES
Basic Shares Outstanding 149.6M shares
Diluted Shares Outstanding 150.1M shares 150.1M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $515.0M $79.00M
YoY Change 551.9% -81.46%
Cash & Equivalents $515.0M $79.23M
Short-Term Investments
Other Short-Term Assets $515.0M $478.0M
YoY Change 7.74% 134.31%
Inventory $78.00M $110.0M
Prepaid Expenses
Receivables $106.0M $132.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.214B $799.0M
YoY Change 51.94% -9.92%
LONG-TERM ASSETS
Property, Plant & Equipment $7.256B $6.222B
YoY Change 16.62% 12.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $132.0M $139.0M
YoY Change -5.04% -37.39%
Other Assets $146.0M $132.0M
YoY Change 10.61% 6.45%
Total Long-Term Assets $7.534B $6.494B
YoY Change 16.02% 10.31%
TOTAL ASSETS
Total Short-Term Assets $1.214B $799.0M
Total Long-Term Assets $7.534B $6.494B
Total Assets $8.748B $7.293B
YoY Change 19.95% 7.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $202.0M $187.0M
YoY Change 8.02% -4.1%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $229.9M $25.00M
YoY Change 819.78%
Total Short-Term Liabilities $697.0M $472.0M
YoY Change 47.67% -1.67%
LONG-TERM LIABILITIES
Long-Term Debt $2.507B $1.988B
YoY Change 26.09% 2.0%
Other Long-Term Liabilities $226.0M $208.0M
YoY Change 8.65% -2.35%
Total Long-Term Liabilities $2.507B $2.196B
YoY Change 14.15% 1.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $697.0M $472.0M
Total Long-Term Liabilities $2.507B $2.196B
Total Liabilities $5.102B $4.057B
YoY Change 25.76% 7.7%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 26.09M shares
Shareholders Equity $3.646B $3.237B
YoY Change
Total Liabilities & Shareholders Equity $8.748B $7.293B
YoY Change 19.95% 7.66%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $31.45M $87.80M
YoY Change -64.18% 192.67%
Depreciation, Depletion And Amortization $115.7M $81.89M
YoY Change 41.27% 25.59%
Cash From Operating Activities $196.3M $238.6M
YoY Change -17.73% 18.59%
INVESTING ACTIVITIES
Capital Expenditures -$392.7M -$281.5M
YoY Change 39.5% -7.83%
Acquisitions
YoY Change
Other Investing Activities $1.300M $15.90M
YoY Change -91.82%
Cash From Investing Activities -$391.4M -$265.5M
YoY Change 47.42% -13.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -35.10M -32.40M
YoY Change 8.33% 39.06%
NET CHANGE
Cash From Operating Activities 196.3M 238.6M
Cash From Investing Activities -391.4M -265.5M
Cash From Financing Activities -35.10M -32.40M
Net Change In Cash -230.2M -59.30M
YoY Change 288.2% -53.45%
FREE CASH FLOW
Cash From Operating Activities $196.3M $238.6M
Capital Expenditures -$392.7M -$281.5M
Free Cash Flow $589.0M $520.1M
YoY Change 13.25% 2.66%

Facts In Submission

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dei Entity Registrant Name
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dei Entity Central Index Key
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dei Document Type
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dei Document Period End Date
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dei Amendment Flag
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DescriptionOfNewAccountingPronouncementsNotYetAdopted
<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">K.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Recently Issued Accounting Standards</font></b></p> <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Disclosure about Offsetting Assets and Liabilities</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">In December&#160;2011, the FASB issued a standards update intended to enhance disclosures by requiring additional information about financial instruments and derivative instruments that are either offset in the statement of financial position or subject to an enforceable master netting arrangement or similar agreement.&#160; The update is to be applied prospectively and is effective for annual reporting periods beginning on or after January&#160;1, 2013. The Company is currently evaluating the impact this standard will have on its financial statement disclosures.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.44
CY2011Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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23334000 USD
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OtherComprehensiveIncomeDerivativesQualifyingAsHedgesPeriodIncreaseDecreaseNetOfTaxInterestRate
29000 USD
CY2011Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2925000 USD
CY2011Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-413000 USD
CY2011Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
20851000 USD
CY2011Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
108605000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
10630000 USD
eqt Other Comprehensive Income Derivatives Qualifying As Hedges Period Increase Decrease Net Of Tax Interest Rate
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesPeriodIncreaseDecreaseNetOfTaxInterestRate
58000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-4896000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-824000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6616000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
216625000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1704000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
2684000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
24850000 USD
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
1110000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-38887000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10868000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
103938000 USD
us-gaap Increase Decrease In Dividends Receivable
IncreaseDecreaseInDividendsReceivable
-7750000 USD
us-gaap Increase Decrease In Dividends Receivable
IncreaseDecreaseInDividendsReceivable
-18500000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
96035000 USD
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OtherComprehensiveIncomeDerivativesQualifyingAsHedgesInterestRateTax
-4966000 USD
CY2011Q2 eqt Other Comprehensive Income Derivatives Qualifying As Hedges Interest Rate Tax
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesInterestRateTax
0 USD
eqt Other Comprehensive Income Derivatives Qualifying As Hedges Interest Rate Tax
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesInterestRateTax
-3165000 USD
eqt Other Comprehensive Income Derivatives Qualifying As Hedges Interest Rate Tax
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesInterestRateTax
0 USD
CY2011Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-1575000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-2636000 USD
CY2011Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
-281000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
-563000 USD

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