2014 Q1 Form 10-K Financial Statement

#000104746914001424 Filed on February 27, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q3
Revenue $165.0M $480.0M $384.5M
YoY Change 168.46% 104.18% -517.79%
Cost Of Revenue $109.4M $94.50M $72.90M
YoY Change 115.78% 106.33% 139.8%
Gross Profit $58.80M $385.5M $311.6M
YoY Change 444.44% 103.65% -354.78%
Gross Profit Margin 35.64% 80.31% 81.04%
Selling, General & Admin $63.00M $384.7M $14.40M
YoY Change 396.06% 2708.03% 21.01%
% of Gross Profit 107.14% 99.79% 4.62%
Research & Development $7.000M $5.200M $5.400M
YoY Change 59.09% -23.53% 68.75%
% of Gross Profit 11.9% 1.35% 1.73%
Depreciation & Amortization $91.21M $75.50M $65.70M
YoY Change 125.96% 105.72% 144.61%
% of Gross Profit 155.11% 19.58% 21.08%
Operating Expenses $269.1M $561.3M $161.9M
YoY Change 144.77% 405.35% 116.35%
Operating Profit -$104.1M -$81.32M $222.6M
YoY Change 114.73% -165.57% -233.4%
Interest Expense $31.34M -$35.80M $37.44M
YoY Change 4.72% 35.09% 66.77%
% of Operating Profit 16.82%
Other Income/Expense, Net
YoY Change
Pretax Income -$135.4M -$159.7M $185.2M
YoY Change 72.74% -263.79% -197.8%
Income Tax -$40.66M $65.50M $67.37M
% Of Pretax Income 36.38%
Net Earnings -$94.76M -$223.0M $120.9M
YoY Change 97.43% 3070.15% -194.69%
Net Earnings / Revenue -57.44% -46.46% 31.44%
Basic Earnings Per Share -$0.36 -$0.85 $0.46
Diluted Earnings Per Share -$0.36 -$0.85 $0.46
COMMON SHARES
Basic Shares Outstanding 262.0M shares 262.0M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.00M $17.00M $12.00M
YoY Change 160.0% -10.53%
Cash & Equivalents $12.58M $17.49M $11.58M
Short-Term Investments
Other Short-Term Assets $4.405M $2.975M $20.82M
YoY Change -95.64% -86.79%
Inventory
Prepaid Expenses
Receivables $27.25M $30.61M $33.02M
Other Receivables $1.000M $3.000M $3.000M
Total Short-Term Assets $321.9M $333.6M $359.5M
YoY Change 65.09% 21.47%
LONG-TERM ASSETS
Property, Plant & Equipment $6.266B $5.560B $4.757B
YoY Change 77.31% 89.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $45.43M $42.58M $51.91M
YoY Change -87.49% 30.57%
Total Long-Term Assets $6.813B $6.280B $5.313B
YoY Change 74.78% 87.79%
TOTAL ASSETS
Total Short-Term Assets $321.9M $333.6M $359.5M
Total Long-Term Assets $6.813B $6.280B $5.313B
Total Assets $7.134B $6.614B $5.672B
YoY Change 74.31% 82.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $428.9M $370.6M $311.1M
YoY Change 60.65% 104.23%
Accrued Expenses $125.1M $77.13M $103.0M
YoY Change 42.16% 31.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $25.00M
YoY Change -100.0%
Total Short-Term Liabilities $760.8M $622.2M $586.9M
YoY Change 60.85% 65.36%
LONG-TERM LIABILITIES
Long-Term Debt $2.536B $2.079B $2.970B
YoY Change 36.12% 43.98%
Other Long-Term Liabilities $40.87M $35.11M $34.33M
YoY Change 2.17% 6.37%
Total Long-Term Liabilities $40.87M $35.11M $34.33M
YoY Change -97.85% 6.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $760.8M $622.2M $586.9M
Total Long-Term Liabilities $40.87M $35.11M $34.33M
Total Liabilities $3.601B $3.015B $3.794B
YoY Change 45.98% 55.0%
SHAREHOLDERS EQUITY
Retained Earnings $99.10M $193.9M $416.9M
YoY Change -8.9%
Common Stock $2.620M $2.620M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.533B $3.599B $1.878B
YoY Change
Total Liabilities & Shareholders Equity $7.134B $6.614B $5.672B
YoY Change 74.31% 82.76%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$94.76M -$223.0M $120.9M
YoY Change 97.43% 3070.15% -194.69%
Depreciation, Depletion And Amortization $91.21M $75.50M $65.70M
YoY Change 125.96% 105.72% 144.61%
Cash From Operating Activities $274.3M $202.8M $139.5M
YoY Change 148.9% 89.71% 116.61%
INVESTING ACTIVITIES
Capital Expenditures $731.7M -$818.3M -$1.429B
YoY Change 33.12% -402.51% 79.41%
Acquisitions
YoY Change
Other Investing Activities $3.807M $9.600M $742.3M
YoY Change -315.33% -102.19% 92.86%
Cash From Investing Activities -$735.5M -$808.7M -$686.5M
YoY Change 34.25% 380.51% 66.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $456.3M 611.9M 547.6M
YoY Change 7.75% 857.59% 52.92%
NET CHANGE
Cash From Operating Activities $274.3M 202.8M 139.5M
Cash From Investing Activities -$735.5M -808.7M -686.5M
Cash From Financing Activities $456.3M 611.9M 547.6M
Net Change In Cash -$4.907M 6.000M 600.0K
YoY Change -65.4% 140.0% -94.55%
FREE CASH FLOW
Cash From Operating Activities $274.3M $202.8M $139.5M
Capital Expenditures $731.7M -$818.3M -$1.429B
Free Cash Flow -$457.4M $1.021B $1.568B
YoY Change 4.09% -724.14% 82.19%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="FONT-FAMILY: times;"><font size="2"><b><i>(b)&#160;&#160;&#160;Use of Estimates</i></b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in facts and circumstances or discovery of new information may result in revised estimates, and actual results could differ from those estimates.</font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company's consolidated financial statements are based on a number of significant estimates including estimates of gas and oil reserve quantities, which are the basis for the calculation of depreciation, depletion, amortization, present value of cash flows from reserves, and impairment of oil and gas properties. Reserve estimates by their nature are inherently imprecise.</font></p> </div>
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CY2013 us-gaap Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves Future Production Costs1
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CY2013 us-gaap Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves Future Development Costs1
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CY2011 arf Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves Future Net Cash Flows Before Income Tax Expense
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CY2012 arf Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves Future Net Cash Flows Before Income Tax Expense
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CY2013 arf Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves Future Net Cash Flows Before Income Tax Expense
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CY2012 us-gaap Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves10 Percent Annual Discount For Estimated Timing Of Cash Flows
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CY2012 us-gaap Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves Standardized Measure
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CY2012 us-gaap Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
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CY2013 dei Entity Registrant Name
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CY2012 us-gaap Proceeds From Repayments Of Lines Of Credit
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CY2012 us-gaap Proceeds From Payments For Other Financing Activities
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808000 USD
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CY2012 us-gaap Net Cash Provided By Used In Financing Activities
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CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2013 us-gaap Increase Decrease In Accrued Liabilities
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CY2013Q4 us-gaap Preferred Stock Shares Authorized
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CY2012Q4 us-gaap Preferred Stock Shares Authorized
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CY2012Q4 us-gaap Preferred Stock Shares Issued
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CY2013 us-gaap Stock Issued During Period Shares New Issues
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CY2011 us-gaap Increase Decrease In Notes Receivables
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CY2011 us-gaap Payments To Explore And Develop Oil And Gas Properties
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CY2012 us-gaap Payments To Explore And Develop Oil And Gas Properties
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50481000 USD
CY2013 arf Maximum Effect Of Dilutive Securities Stock Options And Restrictive Stock Units
MaximumEffectOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0.01
CY2013 arf Adjustments To Additional Paid In Capital Contribution Sharebased Compensation Of Affiliate
AdjustmentsToAdditionalPaidInCapitalContributionSharebasedCompensationOfAffiliate
364957000 USD
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.50
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.09
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-1.70
CY2011 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.04
CY2012 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.86
CY2011 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.46
CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-1.95
CY2013 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="FONT-FAMILY: times;"><font size="2"><b><i>(r)&#160;&#160;&#160;Reclassifications</i></b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certain reclassifications have been made to prior periods' financial information related to water distribution assets to conform to the 2013 presentation.</font></p> </div>
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.50
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.09
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.05
CY2012Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.35
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.25
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.82
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2013Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.18
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.50
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.45
CY2013Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.86
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
CY2013Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.85
CY2013Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.18
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.50
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.45
CY2013Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.86
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2013Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.85
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
121000000 USD
CY2011 arf Derivative Instruments Gain Loss Recognized On Interest Rate Derivative Instrument In Income Net
DerivativeInstrumentsGainLossRecognizedOnInterestRateDerivativeInstrumentInIncomeNet
-94000 USD

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