Antero Midstream Corp (AM) financial statements: income statement, balance sheet and cash flow
Antero Midstream Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Antero Midstream Corp reported revenue of $1.3B (+7.0% year on year).
Income statement
Antero Midstream Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total operating revenues
$1.3B
$1.2B
$1.1B
$990.7M
Amortization of customer relationships
($70.7M)
($70.7M)
($70.7M)
($70.7M)
Total revenue
$1.2B
$1.1B
$1.0B
$920.0M
Direct operating
$231.9M
$218.0M
$213.2M
$180.3M
General and administrative (including $31,606, $44,332 and $45,958 of equity-based compensation in 2023, 2024 and 2025, respectively)
$87.9M
$86.1M
$71.1M
$62.1M
Facility idling
$1.8M
$1.7M
$2.5M
$4.2M
Depreciation
$134.3M
$140.0M
$136.1M
$131.8M
Impairment of property and equipment
$984.0K
$332.0K
$146.0K
$3.7M
Loss on long-lived assets
$86.6M
—
—
—
Other operating expense, net
$192.0K
—
—
—
Total operating expenses
$543.8M
$447.0M
$429.9M
$380.5M
Operating income
$644.7M
$659.2M
$611.9M
$539.5M
Interest expense, net
($190.4M)
($207.0M)
($217.2M)
($189.9M)
Equity in earnings of unconsolidated affiliates
$116.4M
$110.6M
$105.5M
$94.2M
Loss on early extinguishment of debt
($1.3M)
($14.1M)
—
—
Transaction expense
($5.2M)
—
—
—
Total other expense
($80.5M)
($110.5M)
($111.8M)
($95.7M)
Income before income taxes
$564.2M
$548.6M
$500.1M
$443.7M
Income tax expense
($151.0M)
($147.7M)
($128.3M)
($117.5M)
Net income and comprehensive income
$413.2M
$400.9M
$371.8M
$326.2M
Net income per common share-basic (in dollars per share)
$0.86
$0.83
$0.77
$0.68
Net income per common share-diluted (in dollars per share)
$0.86
$0.83
$0.77
$0.68
Basic (in shares)
477.9M
480.8M
479.4M
478.2M
Diluted (in shares)
482.2M
485.2M
482.4M
480.3M
Antero Midstream Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total operating revenues
$350.0M
$335.4M
$312.5M
$323.1M
Amortization of customer relationships
($22.8M)
($21.2M)
($17.7M)
($17.7M)
Total revenue
$327.2M
$314.2M
$294.8M
$305.5M
Direct operating
$84.5M
$70.7M
$57.9M
$63.1M
General and administrative
$22.6M
$22.3M
$21.3M
$22.1M
Facility idling
$287.0K
$545.0K
$445.0K
$375.0K
Depreciation
$37.4M
$34.6M
$34.5M
$33.4M
Impairment of property and equipment
$133.0K
—
$167.0K
—
Other operating expense, net
$454.0K
$34.0K
$49.0K
$50.0K
Total operating expenses
$145.3M
$125.6M
$114.3M
$119.0M
Operating income
$181.9M
$188.6M
$180.5M
$186.4M
Interest expense, net
($55.7M)
($54.0M)
($47.2M)
($48.0M)
Equity in earnings of unconsolidated affiliates
$28.5M
$30.0M
$29.7M
$30.0M
Transaction expense
($273.0K)
($8.7M)
—
—
Total other expense
($27.4M)
($32.7M)
($18.8M)
($17.9M)
Income before income taxes
$154.5M
$155.9M
$161.7M
$168.5M
Income tax expense
($41.0M)
($37.6M)
($45.7M)
($44.0M)
Net income and comprehensive income
$113.5M
$118.3M
$116.0M
$124.5M
Net income per common share-basic (in dollars per share)
$0.24
$0.25
$0.24
$0.26
Net income per common share-diluted (in dollars per share)
$0.24
$0.25
$0.24
$0.26
Basic (in shares)
474.9M
473.9M
478.0M
479.1M
Diluted (in shares)
477.1M
478.0M
481.8M
482.5M
Balance sheet
Antero Midstream Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$180.4M
—
$66.0K
—
Restricted cash
$82.5M
—
—
—
Accounts receivable
$993.0K
$832.0K
$952.0K
$575.0K
Income tax receivable
$1.9M
—
—
$940.0K
Current assets held for sale
$4.6M
—
—
—
Other current assets
$2.7M
$2.1M
$1.5M
$1.3M
Total current assets
$379.9M
$118.1M
$91.1M
$89.0M
Property and equipment, net
$3.5B
$3.9B
$3.8B
$3.8B
Investments in unconsolidated affiliates
$585.8M
$604.0M
$626.6M
$652.8M
Customer relationships
$1.1B
$1.1B
$1.2B
$1.3B
Assets held for sale
$379.0M
—
—
—
Other assets, net
$10.8M
$13.3M
$10.9M
$12.0M
Total assets
$5.9B
$5.8B
$5.7B
$5.8B
Accounts payable
$10.4M
$12.3M
$10.5M
$22.9M
Accrued liabilities
$91.5M
$83.6M
$80.6M
$72.7M
Current liabilities held for sale
$2.3M
—
—
—
Other current liabilities
$1.9M
$635.0K
$831.0K
$1.1M
Total current liabilities
$111.5M
$100.6M
$96.4M
$102.1M
Long-term debt
$3.2B
$3.1B
$3.2B
$3.4B
Deferred income tax liability, net
$563.0M
$413.6M
$265.9M
$131.2M
Liabilities held for sale
$3.0M
—
—
—
Other
$12.0M
$15.4M
$10.4M
$4.4M
Total liabilities
$3.9B
$3.6B
$3.6B
$3.6B
Common stock, $0.01 par value; 2,000,000 authorized; 479,422 and 474,060 issued and outstanding as of December 31, 2024 and December 31, 2025, respectively
$4.7M
$4.8M
$4.8M
$4.8M
Additional paid-in capital
$2.0B
$2.0B
$2.0B
$2.1B
Retained earnings
$14.8M
$90.5M
$100.4M
$82.8M
Total stockholders' equity
$2.0B
$2.1B
$2.2B
$2.2B
Total liabilities and stockholders' equity
$5.9B
$5.8B
$5.7B
$5.8B
Antero Midstream Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Accounts receivable
$889.0K
$3.2M
$809.0K
$774.0K
Income tax receivable
$1.9M
$1.9M
$1.9M
—
Other current assets
$2.4M
$2.8M
$2.1M
$2.1M
Total current assets
$140.9M
$154.9M
$113.4M
$114.5M
Property and equipment, net
$3.9B
$3.9B
$3.9B
$3.9B
Investments in unconsolidated affiliates
$574.2M
$581.0M
$592.2M
$598.3M
Customer relationships
$1.7B
$1.7B
$1.1B
$1.1B
Operating leases right-of-use assets
$43.1M
$46.2M
—
—
Other assets, net
$10.5M
$9.8M
$11.9M
$12.2M
Total assets
$6.4B
$6.4B
$5.7B
$5.7B
Accounts payable
$13.0M
$15.9M
$17.6M
$14.8M
Accrued liabilities
$134.6M
$117.6M
$66.8M
$90.3M
Short-term lease liabilities
$12.8M
$13.2M
—
—
Other current liabilities
$1.2M
$1.6M
$1.5M
$1.7M
Total current liabilities
$167.4M
$157.3M
$90.0M
$111.2M
Long-term debt
$3.6B
$3.7B
$3.0B
$3.0B
Deferred income tax liability, net
$641.6M
$600.6M
$538.1M
$490.1M
Long-term lease liabilities
$30.6M
$33.4M
—
—
Other
$12.7M
$12.2M
$15.0M
$14.5M
Total liabilities
$4.4B
$4.5B
$3.7B
$3.6B
Common stock, $0.01 par value; 2,000,000 authorized; 474,060 and 474,657 issued and outstanding as of December 31, 2025 and June 30, 2026, respectively
$4.7M
$4.8M
$4.8M
$4.8M
Additional paid-in capital
$1.8B
$1.8B
$2.0B
$2.0B
Retained earnings
$106.7M
$104.2M
$88.3M
$111.8M
Total stockholders' equity
$1.9B
$1.9B
$2.1B
$2.1B
Total liabilities and stockholders' equity
$6.4B
$6.4B
$5.7B
$5.7B
Cash flow statement
Antero Midstream Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$413.2M
$400.9M
$371.8M
$326.2M
Depreciation
$134.3M
$140.0M
$136.1M
$131.8M
Impairment of property and equipment
$984.0K
$332.0K
$146.0K
—
Deferred income tax expense
$149.4M
$147.7M
$134.7M
$117.5M
Equity-based compensation
$46.0M
$44.3M
$31.6M
$19.7M
Equity in earnings of unconsolidated affiliates
($116.4M)
($110.6M)
($105.5M)
($94.2M)
Distributions from unconsolidated affiliates
$141.3M
$135.7M
$131.8M
$120.5M
Amortization of customer relationships
$70.7M
$70.7M
$70.7M
$70.7M
Amortization of deferred financing costs
$5.3M
$6.0M
$6.0M
$5.7M
Settlement of asset retirement obligations
($467.0K)
($795.0K)
($1.3M)
($5.5M)
Loss on early extinguishment of debt
$1.3M
$14.1M
—
—
Loss on long-lived assets
$86.6M
—
—
—
Other operating activities
$192.0K
—
—
—
Accounts receivable-Antero Resources
$3.8M
($26.6M)
($2.5M)
($3.4M)
Accounts receivable-third party
$325.0K
$748.0K
$359.0K
$723.0K
Income tax receivable
($1.9M)
—
$940.0K
—
Other current assets
($737.0K)
($781.0K)
($2.0M)
($313.0K)
Accounts payable-Antero Resources
$1.1M
($54.0K)
($1.3M)
$782.0K
Accounts payable-third party
($2.1M)
$3.7M
($7.8M)
$8.0M
Income taxes payable
$942.0K
—
—
—
Accrued liabilities
($1.3M)
$17.7M
$8.3M
($747.0K)
Net cash provided by operating activities
$932.5M
$844.0M
$779.1M
$699.6M
Additions
($162.3M)
($172.3M)
($183.7M)
($298.9M)
Additional investments in unconsolidated affiliate
($6.7M)
($2.4M)
($262.0K)
—
Other investing activities
($304.0K)
—
—
—
Net cash used in investing activities
($169.2M)
($242.7M)
($183.2M)
($493.8M)
Dividends to common stockholders
($439.0M)
($437.6M)
($434.8M)
($432.8M)
Dividends to preferred stockholders
($550.0K)
($550.0K)
($550.0K)
($550.0K)
Repurchases of common stock
($135.0M)
($28.7M)
—
—
Issuance of Senior Notes
$1.3B
$600.0M
—
—
Redemption of Senior Notes
($650.0M)
($560.9M)
—
—
Payments of deferred financing costs
($13.9M)
($12.8M)
—
($302.0K)
Borrowings on Credit Facility
$1.8B
$1.6B
$1.0B
—
Repayments on Credit Facility
($2.3B)
($1.7B)
($1.2B)
—
Employee tax withholding for settlement of equity-based compensation awards
($27.6M)
($15.0M)
($8.5M)
($6.9M)
Net cash used in financing activities
($500.3M)
($601.3M)
($595.8M)
($205.8M)
Net increase (decrease) in cash, cash equivalents and restricted cash
$262.9M
($66.0K)
$66.0K
—
Cash, cash equivalents and restricted cash, end of period
$262.9M
—
—
—
Cash paid during the period for interest
$187.7M
$189.9M
$214.0M
$183.1M
Income taxes refunded (paid) during the period
($2.6M)
—
$9.6M
—
Increase (decrease) in accrued capital expenditures and accounts payable for property and equipment
$9.8M
($13.4M)
$1.3M
($17.0M)
Antero Midstream Corp cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$231.8M
$118.3M
$361.2M
$245.3M
Depreciation
$72.0M
$34.6M
$100.6M
$66.1M
Impairment of property and equipment
$133.0K
—
$984.0K
$817.0K
Deferred income tax expense
$78.6M
$37.6M
$124.5M
$76.5M
Equity-based compensation
$21.4M
$10.6M
$34.8M
$23.8M
Equity in earnings of unconsolidated affiliates
($58.5M)
($30.0M)
($87.7M)
($58.0M)
Distributions from unconsolidated affiliates
$71.0M
$35.7M
$106.1M
$68.7M
Amortization of customer relationships
$44.0M
$21.2M
$53.0M
$35.3M
Amortization of deferred financing costs
$3.1M
$1.5M
$3.9M
$2.6M
Settlement of asset retirement obligations
($74.0K)
($34.0K)
($317.0K)
($258.0K)
Gain on long-lived assets
($2.7M)
($2.7M)
—
—
Other operating activities
$488.0K
$34.0K
$143.0K
$94.0K
Accounts receivable-Antero Resources
($8.3M)
($8.4M)
$6.6M
$3.6M
Accounts receivable-third party
$361.0K
($246.0K)
$373.0K
$304.0K
Other current assets
$120.0K
($99.0K)
($360.0K)
($195.0K)
Accounts payable-Antero Resources
$416.0K
$982.0K
($1.0K)
$166.0K
Accounts payable-third party
$3.5M
$6.3M
$1.1M
$1.8M
Accrued liabilities
$35.6M
$13.2M
($28.0M)
($3.4M)
Net cash provided by operating activities
$492.9M
$238.6M
$677.0M
$464.1M
Additions
($90.6M)
($37.9M)
($113.4M)
($67.3M)
Additional investments in unconsolidated affiliate
($900.0K)
($900.0K)
($6.7M)
($5.1M)
Acquisition of HG Midstream
($1.1B)
($1.1B)
—
—
Proceeds from asset sales
$378.6M
$378.6M
—
—
Other investing activities
$171.0K
—
$850.0K
$6.0K
Net cash used in investing activities
($815.8M)
($780.8M)
($119.2M)
($72.3M)
Dividends to common stockholders
($220.7M)
($111.1M)
($331.8M)
($224.1M)
Dividends to preferred stockholders
($275.0K)
($138.0K)
($413.0K)
($275.0K)
Repurchases of common stock
($26.4M)
($18.0M)
($86.7M)
($45.3M)
Borrowings on Credit Facility
$1.4B
$1.1B
$1.4B
$567.5M
Repayments on Credit Facility
($1.1B)
($634.5M)
($1.5B)
($662.5M)
Payments of deferred financing costs
($1.8M)
($1.3M)
($7.0M)
—
Employee tax withholding for settlement of equity-based compensation awards
($32.6M)
($32.5M)
($27.1M)
($27.0M)
Payments on capital lease obligations
($222.0K)
($86.0K)
—
—
Net cash provided by (used in) financing activities
$60.0M
$279.2M
($557.7M)
($391.8M)
Net decrease in cash, cash equivalents and restricted cash
($262.9M)
($262.9M)
—
—
Cash, cash equivalents and restricted cash, beginning of period
$262.9M
$262.9M
—
—
Cash, cash equivalents and restricted cash, end of period
$0
$0
—
—
Cash paid during the period for interest
$91.9M
$44.5M
$161.0M
$93.4M
Increase (decrease) in accrued capital expenditures and accounts payable for property and equipment
($2.9M)
$3.1M
$13.4M
$9.8M
Right-of-use assets obtained in exchange for new operating lease obligations