2019 Q2 Form 10-Q Financial Statement

#000162828019010065 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $163.6M $109.3M
YoY Change 49.68% -9.31%
Cost Of Revenue $18.30M $18.70M
YoY Change -2.14% 16.88%
Gross Profit $145.3M $90.60M
YoY Change 60.4% -13.3%
Gross Profit Margin 88.82% 82.88%
Selling, General & Admin $14.35M $19.80M
YoY Change -27.54% 13.14%
% of Gross Profit 9.87% 21.85%
Research & Development $304.0K $6.700M
YoY Change -95.46%
% of Gross Profit 0.21% 7.4%
Depreciation & Amortization $29.73M $30.29M
YoY Change -1.87% 4.82%
% of Gross Profit 20.45% 33.43%
Operating Expenses $62.95M $75.79M
YoY Change -16.93% 20.9%
Operating Profit $100.7M $33.52M
YoY Change 200.28% -42.04%
Interest Expense $5.652M $5.280M
YoY Change 7.05% 32.63%
% of Operating Profit 5.61% 15.75%
Other Income/Expense, Net -$5.579M -$4.834M
YoY Change 15.41% 31.86%
Pretax Income $95.09M $28.70M
YoY Change 231.31% -47.05%
Income Tax
% Of Pretax Income
Net Earnings $95.09M $28.69M
YoY Change 231.43% -47.04%
Net Earnings / Revenue 58.12% 26.25%
Basic Earnings Per Share
Diluted Earnings Per Share $429.9K $142.4K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.906M $7.100M
YoY Change -44.99% -5.33%
Cash & Equivalents $3.906M $7.071M
Short-Term Investments
Other Short-Term Assets $26.42M $1.600M
YoY Change 1551.13% -89.4%
Inventory
Prepaid Expenses
Receivables $95.96M $99.03M
Other Receivables $0.00 $0.00
Total Short-Term Assets $126.3M $107.7M
YoY Change 17.21% 13.61%
LONG-TERM ASSETS
Property, Plant & Equipment $1.582B $1.555B
YoY Change 1.77% 36.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.84M $6.800M
YoY Change 132.93% -43.8%
Total Long-Term Assets $1.598B $1.562B
YoY Change 2.34% 35.19%
TOTAL ASSETS
Total Short-Term Assets $126.3M $107.7M
Total Long-Term Assets $1.598B $1.562B
Total Assets $1.725B $1.669B
YoY Change 3.3% 33.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.911M $2.952M
YoY Change 100.24% -16.44%
Accrued Expenses $39.11M $52.58M
YoY Change -25.62% 32.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.97M $92.70M
YoY Change -50.41% 114.19%
LONG-TERM LIABILITIES
Long-Term Debt $436.0M $421.0M
YoY Change 3.56% 7.12%
Other Long-Term Liabilities $98.57M $85.10M
YoY Change 15.82% 435.22%
Total Long-Term Liabilities $534.6M $506.1M
YoY Change 5.62% 23.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.97M $92.70M
Total Long-Term Liabilities $534.6M $506.1M
Total Liabilities $580.5M $598.8M
YoY Change -3.05% 32.43%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.144B $1.070B
YoY Change
Total Liabilities & Shareholders Equity $1.725B $1.669B
YoY Change 3.3% 33.55%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $95.09M $28.69M
YoY Change 231.43% -47.04%
Depreciation, Depletion And Amortization $29.73M $30.29M
YoY Change -1.87% 4.82%
Cash From Operating Activities $110.8M $99.80M
YoY Change 11.02% 32.71%
INVESTING ACTIVITIES
Capital Expenditures -$39.97M -$54.60M
YoY Change -26.79% 58.72%
Acquisitions
YoY Change
Other Investing Activities $18.34M $23.50M
YoY Change -21.97% 23400.0%
Cash From Investing Activities -$21.63M -$31.10M
YoY Change -30.44% -9.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -89.51M -67.90M
YoY Change 31.82% 42.95%
NET CHANGE
Cash From Operating Activities 110.8M 99.80M
Cash From Investing Activities -21.63M -31.10M
Cash From Financing Activities -89.51M -67.90M
Net Change In Cash -341.0K 800.0K
YoY Change -142.63% -112.12%
FREE CASH FLOW
Cash From Operating Activities $110.8M $99.80M
Capital Expenditures -$39.97M -$54.60M
Free Cash Flow $150.8M $154.4M
YoY Change -2.35% 40.88%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2018Q2 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
772271000 USD
us-gaap Profit Loss
ProfitLoss
104104000 USD
us-gaap Profit Loss
ProfitLoss
70647000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
57558000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
58862000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
554000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
542000 USD
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
516000 USD
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
422000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-11996000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-49680000 USD
bsm Payments For Proceeds From Derivative Instruments
PaymentsForProceedsFromDerivativeInstruments
-4674000 USD
bsm Payments For Proceeds From Derivative Instruments
PaymentsForProceedsFromDerivativeInstruments
10665000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13039000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15350000 USD
us-gaap Capitalized Exploratory Well Cost Charged To Expense1
CapitalizedExploratoryWellCostChargedToExpense1
3000 USD
us-gaap Capitalized Exploratory Well Cost Charged To Expense1
CapitalizedExploratoryWellCostChargedToExpense1
6743000 USD
bsm Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
321000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
2000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-17212000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
17915000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
976000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
428000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7405000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2826000 USD
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-299000 USD
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-57000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
200976000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
176326000 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
40676000 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
56069000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
50121000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
73675000 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
871000 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
3799000 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
2152000 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
5000 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
320000 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
1255000 USD
bsm Proceeds From Farm Out Of Oil And Gas Properties
ProceedsFromFarmOutOfOilAndGasProperties
47487000 USD
bsm Proceeds From Farm Out Of Oil And Gas Properties
ProceedsFromFarmOutOfOilAndGasProperties
41034000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46013000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-91259000 USD
bsm Proceeds From Issuance Of Common Units Net Of Offering Costs
ProceedsFromIssuanceOfCommonUnitsNetOfOfferingCosts
-43000 USD
bsm Proceeds From Issuance Of Common Units Net Of Offering Costs
ProceedsFromIssuanceOfCommonUnitsNetOfOfferingCosts
9067000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
114000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
2982000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
0 USD
bsm Payments For Redemptions Of Redeemable Preferred Units
PaymentsForRedemptionsOfRedeemablePreferredUnits
0 USD
bsm Payments For Redemptions Of Redeemable Preferred Units
PaymentsForRedemptionsOfRedeemablePreferredUnits
2115000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
172500000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
175000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
146500000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
142000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
755000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-156471000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-83638000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1508000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1429000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5414000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5642000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3906000 USD
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7071000 USD
us-gaap Interest Paid Net
InterestPaidNet
10618000 USD
us-gaap Interest Paid Net
InterestPaidNet
9364000 USD
CY2019Q2 bsm Cost Method Investments Maximum Ownership Percentage For Accounting Purposes
CostMethodInvestmentsMaximumOwnershipPercentageForAccountingPurposes
0.20
CY2019Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
95958000 USD
CY2018Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
113148000 USD
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
41600000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
100000 USD
CY2018 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
149900000 USD
CY2018 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
200000 USD
CY2019Q2 bsm Derivatives Number Of Counterparties
DerivativesNumberOfCounterparties
9 counterparty
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
34891000 USD
CY2019Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
3478000 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
31413000 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
3523000 USD
CY2019Q2 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
3478000 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
45000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
50264000 USD
CY2018Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
2226000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
48038000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
2226000 USD
CY2018Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
2226000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
0 USD
us-gaap Profit Loss
ProfitLoss
70647000 USD
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
15000000.0 shares
CY2019Q2 us-gaap Profit Loss
ProfitLoss
95087000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
28690000 USD
CY2019Q2 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Profit Loss
ProfitLoss
104104000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
60144000 USD
us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-22000 USD
CY2019Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0 USD
CY2019Q2 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
0 USD
CY2018Q2 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
0 USD
CY2018Q2 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-48000 USD
us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
0 USD
CY2018Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0 USD
us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0 USD
us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
25000 USD
CY2019Q2 bsm Distributable Preferred Stock Dividends
DistributablePreferredStockDividends
5250000 USD
CY2018Q2 bsm Distributable Preferred Stock Dividends
DistributablePreferredStockDividends
5250000 USD
bsm Distributable Preferred Stock Dividends
DistributablePreferredStockDividends
10500000 USD
bsm Distributable Preferred Stock Dividends
DistributablePreferredStockDividends
10500000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
89837000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
23488000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
93604000 USD
us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
0 USD
us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
0 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
89837000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
23488000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
93604000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
60144000 USD
CY2019Q1 us-gaap Partners Capital Distribution Amount Per Share
PartnersCapitalDistributionAmountPerShare
1.35
CY2018Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
75000000.0 USD

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