Equity Method Investments (Tables)

9 Months Ended

Sep. 30, 2022

Antero Midstream Corporation

Equity Method Investments

Schedule of reconciliation of investments in unconsolidated affiliates and summarized financial information

The following table sets forth a reconciliation of Antero’s investment in unconsolidated affiliate (in thousands):

Balance as of December 31, 2021 (1)	$	232,399
Equity in earnings of unconsolidated affiliate		54,863
Dividends from unconsolidated affiliate		(93,854)
Elimination of intercompany profit		29,474
Balance as of September 30, 2022 (1)	$	222,882

(1) The fair value of the Company’s investment in Antero Midstream as of December 31, 2021 and September 30, 2022 was $1.3 billion based on the quoted market share price of Antero Midstream.

The tables set forth below present summarized financial information of Antero Midstream (in thousands):

Balance Sheet

			(Unaudited)
	December 31,		September 30,
	2021		2022
Current assets	$	83,804		80,785
Noncurrent assets		5,460,197		5,483,036
Total assets	$	5,544,001		5,563,821
Current liabilities	$	114,009		106,382
Noncurrent liabilities		3,143,294		3,245,584
Stockholders' equity		2,286,698		2,211,855
Total liabilities and stockholders' equity	$	5,544,001		5,563,821

Statement of Operations

	Nine Months Ended September 30,
	2021		2022
Revenues	$	681,712		678,432
Operating expenses		254,905		283,112
Income from operations		426,807		395,320
Net income	$	252,991		243,449