Name: EQT Corp. (NYSE:EQT) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

EQT Corp., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Cash and cash equivalents	87,541)	43,745)	16,913)	113,963)	22,792)	330,770)	40,670)	18,210)	13,668)	2,968)	18,651)	4,596)	7,542)	30,170)	40,846)	3,487)	4,855)	698,032)	210,382)
Accounts receivable, less provision for doubtful accounts	1,938,717)	2,058,953)	1,212,596)	1,438,031)	1,132,364)	651,568)	682,496)	566,552)	428,439)	341,461)	441,137)	610,088)	552,260)	639,020)	817,535)	1,241,843)	882,386)	774,702)	674,104)
Derivative instruments, at fair value	1,466,800)	1,409,199)	1,304,109)	543,337)	1,428,073)	648,855)	431,949)	527,073)	503,648)	915,441)	1,053,502)	812,664)	771,634)	788,366)	370,254)	481,654)	315,564)	270,288)	262,283)
Income tax receivable	—)	—)	—)	—)	—)	—)	—)	—)	50,753)	201,934)	391,663)	298,854)	127,789)	127,387)	130,567)	131,573)	—)	—)	—)
Prepaid expenses and other	409,409)	573,732)	492,312)	191,435)	757,670)	537,462)	158,590)	103,615)	345,646)	79,991)	43,090)	28,653)	35,995)	13,148)	20,839)	111,107)	31,853)	37,790)	44,812)
Current assets	3,902,467)	4,085,629)	3,025,930)	2,286,766)	3,340,899)	2,168,655)	1,313,705)	1,215,450)	1,342,154)	1,541,795)	1,948,043)	1,754,855)	1,495,220)	1,598,091)	1,380,041)	1,969,664)	1,234,658)	1,780,812)	1,191,581)
Property, plant and equipment	26,978,974)	26,640,549)	26,304,423)	26,016,092)	25,890,930)	22,497,579)	22,168,856)	21,995,249)	21,134,536)	20,924,066)	21,799,259)	21,655,351)	23,460,786)	23,012,706)	22,592,376)	22,148,012)	28,022,769)	27,722,025)	27,083,946)
Accumulated depreciation and depletion	(8,846,789)	(8,438,478)	(8,008,534)	(7,597,172)	(7,109,820)	(6,678,508)	(6,270,840)	(5,940,984)	(5,577,119)	(5,219,993)	(5,833,717)	(5,499,861)	(5,890,792)	(5,507,054)	(5,139,164)	(4,755,505)	(4,892,875)	(4,557,359)	(4,208,106)
Net property, plant and equipment	18,132,185)	18,202,071)	18,295,889)	18,418,920)	18,781,110)	15,819,071)	15,898,016)	16,054,265)	15,557,417)	15,704,073)	15,965,542)	16,155,490)	17,569,994)	17,505,652)	17,453,212)	17,392,507)	23,129,894)	23,164,666)	22,875,840)
Contract asset	29,250)	29,250)	29,250)	410,000)	410,000)	410,000)	390,005)	410,000)	325,934)	355,469)	383,284)	—)	—)	—)	—)	—)	—)	—)	—)
Intangible assets, net	—)	—)	—)	—)	—)	—)	—)	—)	3,573)	11,050)	18,528)	26,006)	33,483)	56,649)	66,991)	77,333)	674,175)	694,903)	715,631)
Goodwill	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,998,726)	1,998,726)	1,998,726)
Other assets	477,235)	304,714)	463,542)	491,702)	479,711)	587,531)	437,678)	433,754)	345,657)	396,481)	319,120)	872,876)	1,061,752)	1,318,955)	1,439,441)	1,281,840)	1,623,876)	1,324,121)	850,568)
Noncurrent assets	18,638,670)	18,536,035)	18,788,681)	19,320,622)	19,670,821)	16,816,602)	16,725,699)	16,898,019)	16,232,581)	16,467,073)	16,686,474)	17,054,372)	18,665,229)	18,881,256)	18,959,644)	18,751,680)	27,426,671)	27,182,416)	26,440,765)
Total assets	22,541,137)	22,621,664)	21,814,611)	21,607,388)	23,011,720)	18,985,257)	18,039,404)	18,113,469)	17,574,735)	18,008,868)	18,634,517)	18,809,227)	20,160,449)	20,479,347)	20,339,685)	20,721,344)	28,661,329)	28,963,228)	27,632,346)

Total assets exhibited a cyclical trend over the analyzed period, beginning at approximately 27.6 billion USD in March 2018, declining to a trough of 17.6 billion USD by September 2020, and subsequently recovering to 22.5 billion USD by September 2022. This trajectory reflects significant adjustments in both the short-term liquidity profile and the valuation of long-term capital assets.

Current Asset Dynamics: Current assets demonstrated substantial growth over the long term, rising from 1.19 billion USD in March 2018 to 3.9 billion USD in September 2022. This expansion was primarily driven by a marked increase in accounts receivable, which peaked at 2.06 billion USD in June 2022. Derivative instruments at fair value showed high volatility, reflecting market fluctuations, with values escalating from 262 million USD in early 2018 to a peak of 1.47 billion USD by September 2022. Cash and cash equivalents remained inconsistent, characterized by sharp spikes and deep declines, suggesting an active capital management strategy or intermittent liquidity injections.
Fixed Asset and Capital Equipment Trends: A significant structural shift occurred in net property, plant, and equipment (PP&E) during the fourth quarter of 2018, where the value dropped from 23.1 billion USD in September to 17.4 billion USD in December. While gross PP&E remained relatively stable or grew modestly thereafter—reaching nearly 27 billion USD by September 2022—the net book value was consistently suppressed by a steady increase in accumulated depreciation and depletion. Accumulated depletion grew linearly from 4.2 billion USD in March 2018 to 8.8 billion USD by September 2022, reflecting the natural consumption of the company's resource base.
Intangible Asset and Goodwill Erosion: The balance sheet reflects a total elimination of goodwill and intangible assets over the period. Goodwill, which stood at 2 billion USD through September 2018, was completely removed from the accounts by December 2018. Similarly, net intangible assets declined from 715 million USD in March 2018 to zero by December 2020. This pattern indicates significant impairment charges or a strategic reclassification of assets.
Operational Asset Shifts: The introduction of contract assets in March 2020, peaking at 410 million USD, suggests a change in revenue recognition or contractual arrangements during that period, although these values declined sharply to 29 million USD by June 2022. Other non-current assets also showed a downward trend, decreasing from a peak of 1.6 billion USD in September 2018 to under 500 million USD in the later quarters of the analysis.

Overall, the asset composition shifted from being heavily weighted toward fixed assets and goodwill in 2018 to a more balanced distribution by 2022, with a heightened reliance on current assets, particularly receivables and derivative valuations, to support the total asset base.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

EQT Corp. (NYSE:EQT)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data