2024 Q3 Form 10-Q Financial Statement

#000150958924000060 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.272B $1.313B
YoY Change 22.79% 98.73%
Cost Of Revenue $158.0M $138.5M
YoY Change 48.62% 114.64%
Gross Profit $1.114B $1.174B
YoY Change 19.84% 97.01%
Gross Profit Margin 87.58% 89.45%
Selling, General & Admin $153.1M $153.6M
YoY Change 34.69% 54.76%
% of Gross Profit 13.75% 13.08%
Research & Development $861.0K $1.340M
YoY Change 115.25% 145.42%
% of Gross Profit 0.08% 0.11%
Depreciation & Amortization $523.9M $521.1M
YoY Change 63.49% 123.85%
% of Gross Profit 47.03% 44.38%
Operating Expenses $925.4M $925.8M
YoY Change 40.92% 178.38%
Operating Profit $188.6M $248.3M
YoY Change -30.88% -5.72%
Interest Expense $33.27M -$107.3M
YoY Change -56.49% 2704.99%
% of Operating Profit 17.64% -43.22%
Other Income/Expense, Net $42.50M -$103.9M
YoY Change -120.25% -1391.3%
Pretax Income $389.1M $283.0M
YoY Change 129.76% 54.09%
Income Tax $93.30M $67.00M
% Of Pretax Income 23.98% 23.68%
Net Earnings $295.8M $216.0M
YoY Change 111.74% 55.07%
Net Earnings / Revenue 23.25% 16.45%
Basic Earnings Per Share $3.02 $2.17
Diluted Earnings Per Share $3.01 $2.15
COMMON SHARES
Basic Shares Outstanding 98.35M shares 100.1M shares
Diluted Shares Outstanding 98.22M shares 100.2M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.08M $91.88M
YoY Change -50.45% -96.6%
Cash & Equivalents $47.08M $91.88M
Short-Term Investments
Other Short-Term Assets $162.3M $74.93M
YoY Change 59.09% -81.65%
Inventory
Prepaid Expenses
Receivables $549.1M $559.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $959.6M $953.8M
YoY Change 1.15% -72.06%
LONG-TERM ASSETS
Property, Plant & Equipment $13.91B $13.96B
YoY Change 18.22% 106.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $132.4M $129.4M
YoY Change 319.53% 1281.32%
Total Long-Term Assets $14.05B $14.09B
YoY Change 18.12% 108.46%
TOTAL ASSETS
Total Short-Term Assets $959.6M $953.8M
Total Long-Term Assets $14.05B $14.09B
Total Assets $15.01B $15.04B
YoY Change 16.87% 47.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $286.9M $229.8M
YoY Change 36.63% 124.46%
Accrued Expenses $619.9M $695.1M
YoY Change 776.56% 26.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.114B $2.290B
YoY Change 4.69% 87.52%
LONG-TERM LIABILITIES
Long-Term Debt $4.842B $4.890B
YoY Change 30.85% 60.39%
Other Long-Term Liabilities $106.7M $109.8M
YoY Change -83.4% -75.34%
Total Long-Term Liabilities $4.948B $4.999B
YoY Change 13.94% 43.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.114B $2.290B
Total Long-Term Liabilities $4.948B $4.999B
Total Liabilities $8.339B $8.455B
YoY Change 22.26% 65.0%
SHAREHOLDERS EQUITY
Retained Earnings $1.408B $1.263B
YoY Change 32.79% 16.44%
Common Stock $5.037M $5.050M
YoY Change 0.66% 3.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.668B $6.586B
YoY Change
Total Liabilities & Shareholders Equity $15.01B $15.04B
YoY Change 16.87% 47.88%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $295.8M $216.0M
YoY Change 111.74% 55.07%
Depreciation, Depletion And Amortization $523.9M $521.1M
YoY Change 63.49% 123.85%
Cash From Operating Activities $835.0M $359.6M
YoY Change 60.71% 6.64%
INVESTING ACTIVITIES
Capital Expenditures $551.8M $533.1M
YoY Change -84.55% -16.96%
Acquisitions
YoY Change
Other Investing Activities -$45.93M $43.24M
YoY Change 1987.77% -873.89%
Cash From Investing Activities -$597.7M -$489.9M
YoY Change -83.28% -24.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -282.2M 170.1M
YoY Change -163.2% -93.08%
NET CHANGE
Cash From Operating Activities 835.0M 359.6M
Cash From Investing Activities -597.7M -489.9M
Cash From Financing Activities -282.2M 170.1M
Net Change In Cash -44.91M 39.81M
YoY Change -98.28% -98.15%
FREE CASH FLOW
Cash From Operating Activities $835.0M $359.6M
Capital Expenditures $551.8M $533.1M
Free Cash Flow $283.3M -$173.5M
YoY Change -109.28% -43.07%

Facts In Submission

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CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1900000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
100000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
100000 usd
CY2024Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
7900000 usd
CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
31100000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
30600000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
31600000 usd
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
559700000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
506000000.0 usd
CY2024Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
27576000 usd
CY2023Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
55750000 usd
CY2024Q2 civi Drilling And Completion Costs Current
DrillingAndCompletionCostsCurrent
274864000 usd
CY2023Q4 civi Drilling And Completion Costs Current
DrillingAndCompletionCostsCurrent
149520000 usd
CY2024Q2 civi Accrued Crude Oil And Natural Gas Operating Expense Current
AccruedCrudeOilAndNaturalGasOperatingExpenseCurrent
156391000 usd
CY2023Q4 civi Accrued Crude Oil And Natural Gas Operating Expense Current
AccruedCrudeOilAndNaturalGasOperatingExpenseCurrent
149483000 usd
CY2024Q2 civi Accrued General And Administrative Cost Current
AccruedGeneralAndAdministrativeCostCurrent
24888000 usd
CY2023Q4 civi Accrued General And Administrative Cost Current
AccruedGeneralAndAdministrativeCostCurrent
30095000 usd
CY2024Q2 civi Accrued Merger Transaction Costs Current
AccruedMergerTransactionCostsCurrent
5056000 usd
CY2023Q4 civi Accrued Merger Transaction Costs Current
AccruedMergerTransactionCostsCurrent
8796000 usd
CY2024Q2 civi Accrued Interest Current
AccruedInterestCurrent
136082000 usd
CY2023Q4 civi Accrued Interest Current
AccruedInterestCurrent
141401000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
40778000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
30663000 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
665635000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
565708000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
60446000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
64268000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
4889554000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
4785732000 usd
CY2024Q2 civi Business Combination Cash Consideration Liability Current
BusinessCombinationCashConsiderationLiabilityCurrent
497277000 usd
CY2023Q4 civi Business Combination Cash Consideration Liability Current
BusinessCombinationCashConsiderationLiabilityCurrent
0 usd
CY2024Q2 civi Long Term Debt Including Business Combination Liability Current
LongTermDebtIncludingBusinessCombinationLiabilityCurrent
5386831000 usd
CY2023Q4 civi Long Term Debt Including Business Combination Liability Current
LongTermDebtIncludingBusinessCombinationLiabilityCurrent
4785732000 usd
CY2024Q2 civi Interest Expense Debt Including Capitalized Interest
InterestExpenseDebtIncludingCapitalizedInterest
114900000 usd
CY2023Q2 civi Interest Expense Debt Including Capitalized Interest
InterestExpenseDebtIncludingCapitalizedInterest
8800000 usd
civi Interest Expense Debt Including Capitalized Interest
InterestExpenseDebtIncludingCapitalizedInterest
224700000 usd
civi Interest Expense Debt Including Capitalized Interest
InterestExpenseDebtIncludingCapitalizedInterest
16200000 usd
civi Impairment Of Proved Properties
ImpairmentOfProvedProperties
0 usd
civi Impairment Of Proved Properties
ImpairmentOfProvedProperties
0 usd
CY2024Q2 civi Impairment Of Proved Properties
ImpairmentOfProvedProperties
0 usd
CY2023Q2 civi Impairment Of Proved Properties
ImpairmentOfProvedProperties
0 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
336832000 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
4092000 usd
civi Asset Retirement Obligation Liabilities Incurred From Acquisitions
AssetRetirementObligationLiabilitiesIncurredFromAcquisitions
40157000 usd
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
15915000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
11812000 usd
civi Asset Retirement Obligation Discharged With Retirements And Divestitures
AssetRetirementObligationDischargedWithRetirementsAndDivestitures
27976000 usd
CY2024Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
349002000 usd
CY2024Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
31116000 usd
CY2024Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
317886000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
215989000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
215989000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
139287000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
139287000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
391810000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
391810000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
341748000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
341748000 usd
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.17
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.92
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.22
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.15
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.72
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.88
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.18
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99426000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80393000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100062000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81052000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
819000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
751000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
803000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
772000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100245000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81144000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100865000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81824000 shares
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5507 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3846 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
206285 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
111251 shares
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25400000 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25400000 usd
CY2024Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
657500000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
564800000 usd
CY2024Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3900000 usd
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
9600000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
67000000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
44400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
102000000.0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
109500000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4175000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7861000 usd
us-gaap Interest Paid Net
InterestPaidNet
204127000 usd
us-gaap Interest Paid Net
InterestPaidNet
12627000 usd
civi Changes In Working Capital Related To Drilling Expenditures And Property Acquisition
ChangesInWorkingCapitalRelatedToDrillingExpendituresAndPropertyAcquisition
-125344000 usd
civi Changes In Working Capital Related To Drilling Expenditures And Property Acquisition
ChangesInWorkingCapitalRelatedToDrillingExpendituresAndPropertyAcquisition
56345000 usd
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2795300 shares
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
68.63
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
191854000 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
288000000 usd
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.45
CY2024Q1 us-gaap Dividends Common Stock
DividendsCommonStock
148327000 usd
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.50
CY2024Q2 us-gaap Dividends Common Stock
DividendsCommonStock
150797000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.15
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
176878000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.12
CY2023Q2 us-gaap Dividends Common Stock
DividendsCommonStock
173358000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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civi-20240630.xsd Edgar Link pending
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