EQM Midstream Partners, LP (EQM) [Rocket]

In millions, except per share items	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Gathering	1,159.9	997.1	510.0
EQT	1,124.9	1,106.4	662.7	549.2
Transmission	390.5	386.8	372.0
PNG Companies, LLC	114.1	104.7	98.5	87.9
Other				95.2
Total revenues [+]	1,630.2	1,495.1	895.6	732.3	632.9	489.2	354.0	200.0
Natural gas midstream					632.9	489.2	354.0	200.0
Net interest income						10.9	1.7	2.9
Revenue growth [+]	9.0%	66.9%	22.3%	15.7%	29.4%	38.2%	77.0%	82.5%
Gathering	16.3%	95.5%
EQT	1.7%	66.9%	20.7%
Transmission	1.0%	4.0%
PNG Companies, LLC	9.0%	6.2%	12.1%
Water	-28.3%	717.5%
Cost of goods sold	-1.4	7.8	90.4	69.3	70.1	56.4	42.7	34.3
Gross profit	1,631.6	1,487.3	805.2	663.0	562.8	432.8	311.3	165.8
Gross margin	100.1%	99.5%	89.9%	90.5%	88.9%	88.5%	87.9%	82.9%
Selling, general and administrative	110.6	121.8	77.3	72.5	61.9	51.1	35.6	21.2
Equity in earnings	163.3	61.8	22.2	9.9
Other operating expenses	220.0	197.2
EBITDA [+]	1,517.5	1,271.6	755.6	600.4	500.9	381.7	275.7	144.6
EBITDA growth	19.3%	68.3%	25.8%	19.9%	31.3%	38.4%	90.7%	118.7%
EBITDA margin	93.1%	85.1%	84.4%	82.0%	79.1%	78.0%	77.9%	72.3%
Depreciation	223.2	171.9	107.2	62.7	49.9	49.1	30.9	19.5
EBITA	1,294.4	1,099.7	648.4	537.8	451.0	332.6	244.8	125.0
EBITA margin	79.4%	73.6%	72.4%	73.4%	71.3%	68.0%	69.2%	62.5%
Amortization of intangibles	53.3	41.5	5.5
EBIT [+]	1,241.1	1,058.1	642.9	537.8	451.0	332.6	244.8	125.0
EBIT growth	17.3%	64.6%	19.5%	19.2%	35.6%	35.9%	95.8%	128.9%
EBIT margin	76.1%	70.8%	71.8%	73.4%	71.3%	68.0%	69.2%	62.5%
Non-recurring items [+]	873.7	269.7
Asset impairment	854.3	261.9
Interest income, net [+]	163.3	61.8	22.2	9.9	2.4		-0.8	2.9
Interest expense							0.8
Interest income	163.3	61.8	22.2	9.9	2.4			2.9
Other income (expense), net [+]	-368.7	-178.9	-54.7	0.4	-15.0	-7.6	0.4	2.3
Other non-operating income	4.6	5.0	4.4	27.1	8.7	3.3	1.2	8.2
Other	4.6	5.0	4.4	27.1	8.7	3.3	1.2	8.2
Pre-tax income	162.1	671.3	610.4	548.1	438.4	325.0	244.4	130.3
Income taxes	-21.3	3.3	0.7	10.1	-16.7	40.2	54.6	36.1
Tax rate		0.5%	0.1%	1.9%		12.4%	22.3%	27.7%
Minority interest	-21.3	3.3	0.7
Net income	109.4	241.7	418.3	413.4	327.9	196.9	100.7	35.8
Net margin	6.7%	16.2%	46.7%	56.4%	51.8%	40.3%	28.4%	17.9%

Basic EPS [+]	$0.58	$2.43	$5.19	$5.21	$4.71	$3.53	$2.47	$1.03
Growth	-76.2%	-53.1%	-0.4%	10.6%	33.3%	43.0%	139.5%
Diluted EPS [+]	$0.56	$2.43	$5.19	$5.21	$4.70	$3.52	$2.46	$1.03
Growth	-77.1%	-53.1%	-0.3%	10.8%	33.4%	43.0%	139.3%

Dividends per share [+]	$4.79	$7.41	$5.49	$4.15	$3.05	$2.15	$2.39	$0.65
Growth	-35.4%	35.1%	32.2%	36.1%	42.1%	-10.4%	267.8%

Shares outstanding (basic) [+]	189.1	99.3	80.6	79.4	69.6	55.7	40.7	34.7
Growth	90.4%	23.2%	1.6%	14.0%	24.9%	36.8%	17.5%
Shares outstanding (diluted) [+]	196.1	99.3	80.6	79.4	69.8	55.9	40.8	34.7
Growth	97.5%	23.2%	1.5%	13.8%	24.9%	36.8%	17.6%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.