Independence Contract Drilling, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019
Cash flows from operating activities
Net loss
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization
Asset impairment, net
Stock-based compensation
Amortization of deferred rent
Loss (gain) on disposition of assets, net
Loss on extinguishment of debt
Amortization of deferred financing costs
Write-off of deferred financing costs
Amortization of Convertible Notes debt discount and issuance costs
Change in fair value of embedded derivative liability
Deferred income taxes
Non-cash cost to obtain revenue contract
Credit loss expense
Changes in operating assets and liabilities
Accounts receivable
Inventories
Prepaid expenses and other assets
Accounts payable and accrued liabilities

Net cash provided by operating activities
Cash flows from investing activities
Cash acquired in Sidewinder Merger
Purchases of property, plant and equipment
Proceeds from the sale of assets
Proceeds from insurance claims
Collection of principal on note receivable
Net cash used in investing activities

Cash flows from financing activities
Repayment of Sidewinder debt
Borrowings under PPP Loan
Common stock issuance costs
Borrowings
Convertible debt
Revolving ABL Credit Facility.
Repayments
Term Loan Facility
Revolving ABL Credit Facility.
Proceeds from issuance of Convertible Notes
Payments to redeem Convertible Notes
Repayments under Term Loan Facility
Borrowings under Revolving ABL Credit Facility
Repayments under Revolving ABL Credit Facility
Revolving ABL Credit Facility.
Total repayments under Revolving ABL Credit Facility

Payment of merger consideration
Proceeds from issuance of common stock through at-the-market facility, net of issuance costs
ATM Offering
Common Stock Purchase Agreement
Total proceeds from issuance of common stock through at-the-market facility, net of issuance costs
Purchase of treasury stock
Taxes paid for vesting of RSUs
Financing costs paid
Convertible debt
Term Loan Facility
Revolving ABL Credit Facility.

Payments for finance lease obligations
Payments of finance and capital lease obligations
Net cash (used in) provided by financing activities

Net increase in cash and cash equivalents
Cash and cash equivalents
Beginning of year
End of year

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