Examples of Rice Merger in a sentence
During the fourth quarter of 2018, the Rice Merger purchase price accounting was finalized and, as a result, the Company recorded a reduction of $20.7 million to goodwill and a corresponding increase of $0.9 million to accounts payable and decrease of $21.6 million to deferred tax liability.
As discussed in Note 1, on November 13, 2017, EQT completed the Rice Merger.
The noncontrolling interest in RMP was calculated using RMP's common unit market price as of the Rice Merger Date.
On the Rice Merger Date, Rice Midstream Holdings recorded goodwill of $1,384.9 million to two reporting units within the Gathering segment.
The following table summarizes the final purchase price allocation of the fair value of the assets and liabilities of Rice Midstream Holdings as of the Rice Merger Date.
The goodwill value was based on a valuation performed by EQT as of November 13, 2017 with regard to the Rice Merger.
In connection with the Separation, EQT transferred to the Company a deferred tax liability assumed in the Rice Merger and a corresponding increase to goodwill of $137.0 million.
The acquired noncontrolling interest consisted of the third-party ownership interests in RMP and Strike Force Midstream as of the Rice Merger Date.
EQT recorded the Rice Merger as a business combination using the acquisition method of accounting and performed a preliminary valuation of the fair value of Rice Midstream Holdings' assets and liabilities as of the Rice Merger Date.
EQM recast its combined financial statements to retrospectively reflect the pre-acquisition results of the May 2018 Acquisition as if the entities were owned since the Rice Merger on November 13, 2017; however, the combined financial statements are not necessarily indicative of the results of operations that would have occurred if EQM had owned them during the three months ended March 31, 2018.