Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

EQT Corp., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Sales of natural gas, natural gas liquids and oil	6,804,020)	2,650,299)	3,791,414)	4,695,519)	2,651,318)
Gain (loss) on derivatives not designated as hedges	(3,775,042)	400,214)	616,634)	(178,591)	390,021)
Net marketing services and other	35,685)	8,330)	8,436)	40,940)	49,681)
Operating revenues	3,064,663)	3,058,843)	4,416,484)	4,557,868)	3,091,020)
Transportation and processing	(1,942,165)	(1,710,734)	(1,752,752)	(1,697,001)	(1,164,783)
Production	(225,279)	(155,403)	(153,785)	(195,775)	(181,349)
Exploration	(24,403)	(5,484)	(7,223)	(6,765)	(17,565)
Selling, general and administrative	(196,315)	(174,769)	(170,611)	(232,543)	(208,986)
Depreciation and depletion	(1,676,702)	(1,393,465)	(1,538,745)	(1,569,038)	(970,985)
Amortization of intangible assets	—)	(26,006)	(35,916)	(41,367)	(5,400)
Gain (loss) on sale/exchange of long-lived assets	21,124)	(100,729)	(1,138,287)	(2,709,976)	—)
Impairment of intangible and other assets	—)	(34,694)	(15,411)	—)	—)
Impairment of goodwill	—)	—)	—)	(530,811)	—)
Impairment and expiration of leases	(311,835)	(306,688)	(556,424)	(279,708)	(7,552)
Transactions	(57,430)	(11,739)	—)	(26,331)	(152,188)
Reorganization, including severance and contract terminations	(7,458)	(5,448)	(97,702)	—)	—)
Changes in legal reserves, including settlements	(5,175)	(11,350)	(82,395)	(51,677)	—)
Proxy	—)	—)	(19,343)	—)	—)
Other operating expenses	(70,063)	(28,537)	(199,440)	(78,008)	(152,188)
Operating expenses	(4,425,638)	(3,936,509)	(5,568,594)	(7,340,992)	(2,708,808)
Operating income (loss)	(1,360,975)	(877,666)	(1,152,110)	(2,783,124)	382,212)
Gain on Equitrans Share Exchange	—)	187,223)	—)	—)	—)
Income (loss) from investments	71,841)	(314,468)	(336,993)	(72,366)	—)
Dividend and other income (expense)	19,105)	35,512)	91,483)	7,017)	(2,987)
Loss on debt extinguishment	(9,756)	(25,435)	—)	—)	(12,641)
Interest expense	(308,903)	(271,200)	(199,851)	(228,958)	(167,971)
Income (loss) from continuing operations before income taxes	(1,588,688)	(1,266,034)	(1,597,471)	(3,077,431)	198,613)
Income tax benefit	434,175)	298,858)	375,776)	696,511)	1,188,416)
Income (loss) from continuing operations	(1,154,513)	(967,176)	(1,221,695)	(2,380,920)	1,387,029)
Income from discontinued operations, net of tax	—)	—)	—)	373,762)	471,113)
Net income (loss)	(1,154,513)	(967,176)	(1,221,695)	(2,007,158)	1,858,142)
Net (income) loss attributable to noncontrolling interest	(1,246)	10)	—)	(237,410)	(349,613)
Net income (loss) attributable to EQT Corporation	(1,155,759)	(967,166)	(1,221,695)	(2,244,568)	1,508,529)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Income statement item	Description	The company
Sales of natural gas, natural gas liquids and oil	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	EQT Corp. sales of natural gas, natural gas liquids and oil decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	EQT Corp. operating income (loss) increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Income (loss) from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	EQT Corp. income (loss) from continuing operations before income taxes increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.
Net income (loss) attributable to EQT Corporation	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	EQT Corp. net income (loss) attributable to EQT Corporation increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.

EQT Corp. (NYSE:EQT)

Income Statement