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Eqt Gp Holdings, Lp (EQGP) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Eqgp Holdings, Lp

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CIK: 1632933 Ticker: EQGP

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2017 RESULTS ANNOUNCED FOR
EQT MIDSTREAM PARTNERS AND EQT GP HOLDINGS

Pittsburgh, PA (February 15, 2018) – EQT Midstream Partners, LP (NYSE: EQM) today announced full-year and fourth quarter 2017 results. For the year, EQM net income totaled $571.9 million, adjusted EBITDA was $689.5 million, net cash provided by operating activities was $650.6 million, and distributable cash flow was $614.8 million. EQM operating income in 2017 was $580.7 million. For the fourth quarter, EQM net income totaled $146.6 million, adjusted EBITDA was $185.1 million, net cash provided by operating activities was $170.3 million, and distributable cash flow was $159.2 million. EQM operating income in the fourth quarter 2017 was $149.0 million. The Non-GAAP Disclosures section of this news release provides reconciliations of non-GAAP financial measures to their most comparable GAAP financial measure.

EQT GP Holdings, LP (NYSE: EQGP) today announced net income attributable to EQGP of $262.0 million for 2017 and $70.3 million for the fourth quarter 2017.

EQM 2017 Highlights:
•
Increased EQM per unit distribution by 20% year-over-year
•
Maintained a 1.34x coverage ratio for the year
•
Generated 91% of operating revenue from firm reservation fees
•
Received FERC Certificate for Mountain Valley Pipeline in October
•
Placed the final phase of the header pipeline for Range Resources in-service in May
•
Added Hammerhead pipeline to organic project backlog

EQM fourth quarter 2017 operating income was 18% higher compared to 2016, after excluding a $10.5 million non-cash charge to depreciation and amortization expense in the fourth quarter. The non-cash charge related to a revaluation of differences between regulatory and tax bases in property, plant, and equipment. Operating revenue increased $29.5 million, or 15%, compared to the same quarter last year. The increase was primarily due to higher contracted firm transmission and gathering capacity. In the fourth quarter, 88% of operating revenue was generated by firm reservation fees. Operating expenses, excluding the non-cash charge, were up $4.6 million versus the fourth quarter of 2016, primarily from higher depreciation and amortization, and operating and maintenance expenses as a result of the growing asset base.


The following information was filed by Eqgp Holdings, Lp (EQGP) on Thursday, February 15, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Eqgp Holdings, Lp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Statements Of Consolidated Cash Flows
Statements Of Consolidated Equity
Statements Of Consolidated Operations
Statements Of Consolidated Operations (footnotes)
Acquisitions
Acquisitions (tables)
Acquisitions - Narrative (details)
Acquisitions - Schedule Of Acquisitions (details)
Cash Distributions
Cash Distributions (tables)
Cash Distributions - Narrative (details)
Cash Distributions - Schedule Of Additional Available Cash From Operating Surplus (details)
Cash Distributions - Schedule Of Cash Distributions To Unitholders (details)
Commitments And Contingencies
Concentrations Of Credit Risk
Concentrations Of Credit Risk (details)
Consolidated Variable Interest Entity (notes)
Consolidated Variable Interest Entity (tables)
Consolidated Variable Interest Entity - Amounts Included In Consolidated Balance Sheets For The Use Or Obligation Of Vie (details)
Debt
Debt (tables)
Debt - Eqgp Working Capital Facility (details)
Debt - Eqm $1 Billion Dollar Facility (details)
Debt - Eqm 364-day Facility (details)
Debt - Eqm 4.125% Senior Notes (details)
Debt - Schedule Of Outstanding Debt (details)
Equity
Equity (tables)
Equity - Narrative (details)
Equity - Schedule Of Common, Subordinated And General Partner Units Issued (details)
Equity - Schedule Of Public Offerings Of Common Units (details)
Equity-based Compensation Plan
Equity-based Compensation Plan (details)
Financial Information By Business Segment
Financial Information By Business Segment (tables)
Financial Information By Business Segment - Schedule Of Depreciation, Amortization And Expenditures For Segment Assets (details)
Financial Information By Business Segment - Schedule Of Revenues, Operating Income And Reconciliation Of Operating Income To Net Income (details)
Financial Information By Business Segment - Schedule Of Segment Assets (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Narrative (details)
Income Taxes - Summary Of Components Of Income Tax Expense (details)
Income Taxes - Summary Of Income Tax Expense (details)
Interim Financial Information (unaudited)
Interim Financial Information (unaudited) (details)
Interim Financial Information (unaudited) (tables)
Investment In Unconsolidated Entity
Investment In Unconsolidated Entity (tables)
Investment In Unconsolidated Entity - Narrative (details)
Investment In Unconsolidated Entity - Schedule Of Unaudited Condensed Financial Statements For The Investment In Unconsolidated Equity (details)
Postretirement Benefit Plans
Postretirement Benefit Plans (details)
Regulatory Assets And Liabilities
Regulatory Assets And Liabilities (tables)
Regulatory Assets And Liabilities - Regulatory Assets And Liabilities (details)
Related Party Transactions
Related Party Transactions (tables)
Related Party Transactions - Schedule Of Reimbursement (details)
Related Party Transactions - Summary Of Related Party Balances (details)
Related Party Transactions - Summary Of Related Party Transactions (details)
Summary Of Operations And Significant Accounting Policies
Summary Of Operations And Significant Accounting Policies (policies)
Summary Of Operations And Significant Accounting Policies (tables)
Summary Of Operations And Significant Accounting Policies - Organization And Basis Of Presentation And Nature Of Business (details)
Summary Of Operations And Significant Accounting Policies - Schedule Of Operating Revenues And Expenses (details)
Summary Of Operations And Significant Accounting Policies - Schedule Of Property, Plant And Equipment (details)
Summary Of Operations And Significant Accounting Policies - Schedule Of Regulated Property, Plant And Equipment (details)
Summary Of Operations And Significant Accounting Policies - Significant Accounting Policies (details)
Ticker: EQGP
CIK: 1632933
Form Type: 10-K Annual Report
Accession Number: 0001632933-18-000008
Submitted to the SEC: Thu Feb 15 2018 4:23:10 PM EST
Accepted by the SEC: Thu Feb 15 2018
Period: Sunday, December 31, 2017
Industry: Natural Gas Transmission

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