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STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net loss $ (967,176) $ (1,221,695) $ (2,007,158)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Deferred income tax expense (benefit) (155,840) (275,063) (510,405)
Depreciation and depletion 1,393,465 1,538,745 1,729,739
Amortization of intangible assets 26,006 35,916 77,374
Impairment/loss on sale/exchange of long-lived assets and leases 442,111 1,710,122 2,989,684
Gain on Equitrans Share Exchange (187,223) 0 0
Impairment of goodwill 0 0 798,689
Loss on investment in Equitrans Midstream Corporation 314,468 336,993 72,366
Loss on debt extinguishment 25,435 0 0
Share-based compensation expense 19,552 31,233 25,189
Amortization, accretion and other 37,414 23,296 (33,039)
(Gain) loss on derivatives not designated as hedges (400,214) (616,634) 178,591
Cash settlements received (paid) on derivatives not designated as hedges 897,190 246,639 (225,279)
Net premiums (paid) received on derivative instruments (46,665) 22,616 0
Changes in other assets and liabilities:      
Accounts receivable (36,296) 432,323 (439,062)
Accounts payable (29,193) (238,674) 457,113
Income tax receivable and payable 322,763 (167,281) (117,188)
Other current assets (68,628) 54,776 (28,256)
Other items, net (49,468) (61,608) 7,898
Net cash provided by operating activities 1,537,701 1,851,704 2,976,256
Cash flows from investing activities:      
Capital expenditures (1,042,231) (1,602,454) (2,999,037)
Cash paid for acquisitions (see Note 6) (691,942) 0 0
Capital expenditures for discontinued operations 0 0 (732,727)
Capital contributions to Mountain Valley Pipeline, LLC 0 0 (820,943)
Proceeds from sale of assets 126,080 0 583,381
Cash received for Equitrans Share Exchange 52,323 0 0
Other investing activities (30) 1,312 (9,778)
Net cash used in investing activities (1,555,800) (1,601,142) (3,979,104)
Cash flows from financing activities:      
Net proceeds from issuance of common stock 340,923 0 0
Proceeds from borrowings on credit facility 3,118,250 2,978,750 8,637,500
Repayment of borrowings on credit facility (3,112,250) (3,484,750) (8,953,500)
Proceeds from issuance of debt 2,600,000 1,000,000 2,500,000
Debt issuance costs and Capped Call Transactions (See Note 10) (71,056) (913) (40,966)
Repayments and retirements of debt (2,822,262) (704,661) (8,376)
Premiums paid on debt extinguishment (21,132) 0 0
Dividends paid (7,664) (30,655) (31,375)
Proceeds and excess tax benefits from awards under employee compensation plans 0 0 1,946
Cash paid for taxes related to net settlement of share-based incentive awards (596) (7,224) (22,647)
Repurchase and retirement of common stock 0 0 (538,876)
Repurchase of common stock 0 0 (27)
Contributions from (distributions to) noncontrolling interests 7,500    
Contributions from (distributions to) noncontrolling interests   0 (380,651)
Acquisition of 25% of Strike Force Midstream LLC 0 0 (175,000)
Net cash transferred at Separation and Distribution 0 0 (129,008)
Net cash provided by (used in) financing activities 31,713 (249,453) 859,020
Net change in cash and cash equivalents 13,614 1,109 (143,828)
Cash and cash equivalents at beginning of year 4,596 3,487 147,315
Cash and cash equivalents at end of year $ 18,210 $ 4,596 $ 3,487