Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of property, plant and equipment

The following table summarizes the Company's property, plant and equipment.



	December 31,
	2019		2018
	(Thousands)
Oil and gas producing properties, successful efforts method	$	21,316,834	$	21,814,779
Less: Accumulated depreciation and depletion	5,402,515		4,666,212
Net oil and gas producing properties	15,914,319		17,148,567
Other properties, at cost less accumulated depreciation	241,171		243,940
Net property, plant and equipment	$	16,155,490	$	17,392,507

Schedule intangible assets

The following table summarizes the Company's intangible assets.



	December 31,
	2019		2018
	(Thousands)
Non-compete agreements	$	124,100	$	124,100
Less: Accumulated amortization	82,683		46,767
Less: Impairment of intangible assets (a)	15,411		—
Intangible assets, net	$	26,006	$	77,333

(a)

In 2019 the Company recognized impairment of its intangible assets associated with non-compete agreements for former Rice Energy executives who are now employees of the Company.

Schedule of other current liabilities

Other Current Liabilities. The following table summarizes the Company's other current liabilities.



	December 31,
	2019		2018
	(Thousands)
Taxes other than income	$	57,850	$	75,978
Accrued interest payable	36,590		42,998
Current portion of operating lease liability	29,036		—
Incentive compensation	18,573		46,937
Severance accrual	11,769		8,893
Legal reserve	3,000		53,500
Other accrued liabilities	63,746		26,381
Total other current liabilities	$	220,564	$	254,687

Reconciliation of the beginning and ending carrying amounts of asset retirement obligations

The following table presents a reconciliation of the beginning and ending carrying amounts of the Company's asset retirement obligations included in other liabilities and credits in the Consolidated Balance Sheets.



	December 31,
	2019			2018
	(Thousands)
Balance at January 1	$	287,805		$	443,349
Accretion expense	13,733			17,513
Liabilities incurred	8,985			7,785
Liabilities settled	(3,569		)	(3,722		)
Liabilities assumed in the Rice Merger	—			27,999
Liabilities removed due to divestitures	(5,535		)	(231,936		)
Change in estimates	160,402			26,817
Balance at December 31	$	461,821		$	287,805

Supplemental cash flow information

Supplemental Cash Flow Information. The following table summarizes net cash paid (received) for interest and income taxes and non-cash activity included in the Consolidated Statements of Cash Flows.



	Years Ended December 31,
	2019			2018			2017
	(Thousands)
Cash paid (received) during the year for:
Interest, net of amount capitalized	$	198,562		$	260,959		$	189,371
Income taxes, net	(1,710		)	(3,675		)	3,637

Non-cash activity during the period for:
Changes in property, plant and equipment accruals	$	170,848		$	(274,219	)	$	4,439
Increase in asset retirement costs and obligations	169,387			34,602			143,578
Increase in right-of-use lease assets and liabilities	113,350			—			—
Capitalization of non-cash equity share-based compensation	—			4,314			8,993
Assumption of net liabilities from current period acquisitions	—			—			10,004
Measurement period adjustments for prior period acquisitions	—			14,377			(14,315		)
Increase in capital contributions payable to Mountain Valley Pipeline, LLC	—			176,551			94,263