Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2022

The summarized operating results of the Company’s reportable segments are as follows (in thousands):


	Three Months Ended September 30, 2021
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Sales and revenues:
Third-party	$	300,668		232,685		245		(245)		533,353
Intersegment		530		—		224,559		(224,559)		530
Total revenue		301,198		232,685		224,804		(224,804)		533,883

Operating expenses:
Lease operating		25,363		—		—		—		25,363
Gathering, compression, processing, transportation and water handling		628,225		—		39,499		(39,499)		628,225
General and administrative		32,442		—		14,810		(14,810)		32,442
Depletion, depreciation and amortization		182,810		—		27,487		(27,487)		182,810
Impairment of oil and gas properties		26,253		—		—		—		26,253
Other		56,113		266,751		1,187		(1,187)		322,864
Total operating expenses		951,206		266,751		82,983		(82,983)		1,217,957
Operating income (loss)	$	(650,008)		(34,066)		141,821		(141,821)		(684,074)
Equity in earnings of unconsolidated affiliates	$	21,450		—		24,088		(24,088)		21,450
Capital expenditures for segment assets	$	387,783		—		82,583		(82,583)		387,783


	Three Months Ended September 30, 2022
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Sales and revenues:
Third-party	$	1,904,302		159,985		1,651		(1,651)		2,064,287
Intersegment		337		—		229,383		(229,383)		337
Total revenue		1,904,639		159,985		231,034		(231,034)		2,064,624

Operating expenses:
Lease operating		27,453		—		—		—		27,453
Gathering, compression, processing, transportation and water handling		716,388		—		46,648		(46,648)		716,388
General and administrative		42,903		—		13,587		(13,587)		42,903
Depletion, depreciation and amortization		169,607		—		34,206		(34,206)		169,607
Impairment of oil and gas properties		33,924		—		—		—		33,924
Other		114,812		185,377		(1,177)		1,177		300,189
Total operating expenses		1,105,087		185,377		93,264		(93,264)		1,290,464
Operating income (loss)	$	799,552		(25,392)		137,770		(137,770)		774,160
Equity in earnings of unconsolidated affiliates	$	14,972		—		24,411		(24,411)		14,972
Capital expenditures for segment assets	$	244,680		—		74,120		(74,120)		244,680


	Nine Months Ended September 30, 2021
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Sales and revenues:
Third-party	$	1,661,682		562,928		340		(340)		2,224,610
Intersegment		551		—		681,372		(681,372)		551
Total revenue		1,662,233		562,928		681,712		(681,712)		2,225,161

Operating expenses:
Lease operating		71,555		—		—		—		71,555
Gathering, compression, processing, transportation and water handling		1,874,664		—		118,368		(118,368)		1,874,664
General and administrative		108,693		—		46,991		(46,991)		108,693
Depletion, depreciation and amortization		564,166		—		80,956		(80,956)		564,166
Impairment of oil and gas properties		69,618		—		—		—		69,618
Other		141,127		627,822		8,590		(8,590)		768,949
Total operating expenses		2,829,823		627,822		254,905		(254,905)		3,457,645
Operating income (loss)	$	(1,167,590)		(64,894)		426,807		(426,807)		(1,232,484)
Equity in earnings of unconsolidated affiliates	$	57,621		—		66,347		(66,347)		57,621
Capital expenditures for segment assets	$	510,941		—		156,948		(156,948)		510,941


	Nine Months Ended September 30, 2022
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Sales and revenues:
Third-party	$	4,716,827		335,173		2,288		(2,288)		5,052,000
Intersegment		1,149		—		676,144		(676,144)		1,149
Total revenue		4,717,976		335,173		678,432		(678,432)		5,053,149

Operating expenses:
Lease operating		70,486		—		—		—		70,486
Gathering, compression, processing, transportation and water handling		1,962,878		—		131,959		(131,959)		1,962,878
General and administrative		123,033		—		47,597		(47,597)		123,033
Depletion, depreciation and amortization		511,390		—		98,181		(98,181)		511,390
Impairment of oil and gas properties		79,749		—		—		—		79,749
Other		258,963		415,571		5,375		(5,375)		674,534
Total operating expenses		3,006,499		415,571		283,112		(283,112)		3,422,070
Operating income (loss)	$	1,711,477		(80,398)		395,320		(395,320)		1,631,079
Equity in earnings of unconsolidated affiliates	$	54,863		—		70,467		(70,467)		54,863
Capital expenditures for segment assets	$	721,420		—		236,154		(236,154)		721,420

The summarized assets of the Company’s reportable segments are as follows (in thousands):


	As of December 31, 2021
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliates		Total
Investments in unconsolidated affiliates	$	232,399		—		696,009		(696,009)		232,399
Total assets		13,864,402		32,126		5,544,001		(5,544,001)		13,896,528

(Unaudited)

As of September 30, 2022

Equity Method

Exploration

Investment in

Elimination of

and

Antero

Unconsolidated

Consolidated

Production

Marketing

Midstream

Affiliates

Total

Investments in unconsolidated affiliates

222,882

—

659,006

(659,006)

222,882

Total assets

14,350,938

62,440

5,563,821

(5,563,821)

14,413,378