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)

The analysis of the financial data reveals several notable trends and patterns over the reported quarters.

Liquidity and Current Assets: Cash and cash equivalents exhibit significant volatility, with a peak in mid-2018 followed by fluctuations, including a substantial increase in mid-2021 and a general upward trend thereafter. Accounts receivable generally increase over the periods, with some variability, reaching a high point toward late 2022, indicating growing amounts owed by customers. Prepaid expenses and other current assets also show considerable variability but present an overall ascending trend, with noticeable spikes around 2021. Total current assets reflect these movements, increasing especially toward late 2021 and 2022, signaling improved liquidity positions in those periods.
Noncurrent Assets and Property, Plant, and Equipment (PP&E): Property, plant, and equipment (PP&E) steadily increase from 2018 through 2022, indicating ongoing capital investment. Accumulated depreciation and depletion also rise over time, though with some fluctuations, reflecting asset aging and usage. The net PP&E figure decreases noticeably in late 2018 and 2019, suggesting asset impairments or disposals during that timeframe, before stabilizing and subsequently increasing from 2020 onwards, which could imply new acquisitions or revaluations.
Intangible Assets and Goodwill: Intangible assets show a declining trend until they are no longer reported after 2020, which could reflect amortization, impairment, or disposal. Goodwill is recorded only in the early periods and then absent, implying possible write-offs or reclassifications during or after 2018.
Other Assets and Derivative Instruments: Other assets present fluctuating values with an overall downward trend approaching 2020, followed by moderate variations thereafter. Derivative instruments at fair value demonstrate a strong upward trend, particularly from late 2019 through 2022, indicating increased exposure or hedging activities in financial instruments during these periods.
Contract Asset: The contract asset appears starting in late 2019, shows fluctuations, and remains relatively stable at a set level from 2020 through 2022, signaling ongoing recognition of revenue or contract-related balances during these years.
Total Assets and Asset Composition: Total assets declined sharply after 2018, reaching a trough around 2020, corresponding with declines in several asset categories. From 2020 onwards, total assets exhibit a recovery and upward trend through 2022. This pattern may reflect a restructuring or asset revaluation phase followed by growth. The composition shifts show increases in current assets and PP&E, coupled with decreasing intangible assets, altering the asset mix over time.

Overall, the financial data suggest a period of significant asset adjustments and volatility around 2018–2020, followed by stabilization and growth in asset values, particularly in current assets and PP&E, from 2021 through 2022. The increase in derivative instruments and contract assets during later periods may reflect changes in business operations or risk management strategies. The decline and eventual absence of intangible assets and goodwill indicate substantial asset write-offs or reclassifications in earlier periods.

Assets: Selected Items

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Current Assets: Selected Items

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EQT Corp. (NYSE:EQT)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data