$CRC
California Resources Corp

2020 Q1 Form 10-Q Financial Statement

#000160925320000106 Filed on June 25, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q1
Revenue $573.0M $610.0M $690.0M
YoY Change -16.96% -43.41% 13.3%
Cost Of Revenue $192.0M $211.0M $233.0M
YoY Change -17.6% -9.44% 9.91%
Gross Profit $381.0M $399.0M $457.0M
YoY Change -16.63% -52.78% 15.11%
Gross Profit Margin 66.49% 65.41% 66.23%
Selling, General & Admin $60.00M $100.0M $83.00M
YoY Change -27.71% 6.38% -17.82%
% of Gross Profit 15.75% 25.06% 18.16%
Research & Development $5.000M $4.000M $10.00M
YoY Change -50.0% -75.0% 25.0%
% of Gross Profit 1.31% 1.0% 2.19%
Depreciation & Amortization $119.0M $114.0M $118.0M
YoY Change 0.85% -12.31% -0.84%
% of Gross Profit 31.23% 28.57% 25.82%
Operating Expenses $60.00M $297.0M $83.00M
YoY Change -27.71% -21.84% -71.28%
Operating Profit -$1.649B $102.0M $57.00M
YoY Change -2992.98% -78.06% -47.22%
Interest Expense -$87.00M -$90.00M -$100.0M
YoY Change -13.0% -8.16% 8.7%
% of Operating Profit -88.24% -175.44%
Other Income/Expense, Net -$96.00M -$54.00M -$101.0M
YoY Change -4.95% 671.43% 1342.86%
Pretax Income -$1.745B -$24.00M -$44.00M
YoY Change 3865.91% -106.12% -588.89%
Income Tax $0.00 $1.000M $0.00
% Of Pretax Income
Net Earnings -$1.796B -$67.00M -$67.00M
YoY Change 2580.6% -119.36% 3250.0%
Net Earnings / Revenue -313.44% -10.98% -9.71%
Basic Earnings Per Share -$36.43 -$1.38
Diluted Earnings Per Share -$36.43 -$1.359M -$1.38
COMMON SHARES
Basic Shares Outstanding 49.30M shares 48.70M shares
Diluted Shares Outstanding 49.30M shares 48.70M shares

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.00M $17.00M $43.00M
YoY Change 79.07% 0.0% -91.3%
Cash & Equivalents $77.00M $17.00M $43.00M
Short-Term Investments
Other Short-Term Assets $84.00M $130.0M $99.00M
YoY Change -15.15% -49.02% 25.32%
Inventory $60.00M $67.00M $71.00M
Prepaid Expenses $18.00M $19.00M
Receivables $135.0M $277.0M $296.0M
Other Receivables $51.00M $70.00M $68.00M
Total Short-Term Assets $356.0M $491.0M $577.0M
YoY Change -38.3% -23.28% -39.2%
LONG-TERM ASSETS
Property, Plant & Equipment $4.538B $6.352B $6.602B
YoY Change -31.26% -1.6% 15.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.00M $115.0M $51.00M
YoY Change 56.86% 82.54% 41.67%
Total Long-Term Assets $4.618B $6.467B $6.653B
YoY Change -30.59% -0.78% 15.7%
TOTAL ASSETS
Total Short-Term Assets $356.0M $491.0M $577.0M
Total Long-Term Assets $4.618B $6.467B $6.653B
Total Assets $4.974B $6.958B $7.230B
YoY Change -31.2% -2.79% 7.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $283.0M $296.0M $304.0M
YoY Change -6.91% -24.1% 4.11%
Accrued Expenses $260.0M $313.0M $281.0M
YoY Change -7.47% 44.24% -18.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $100.0M $100.0M
YoY Change -99.0%
Total Short-Term Liabilities $543.0M $709.0M $689.0M
YoY Change -21.19% 16.8% -14.52%
LONG-TERM LIABILITIES
Long-Term Debt $4.996B $4.877B $5.372B
YoY Change -7.0% -10.79% 2.99%
Other Long-Term Liabilities $715.0M $720.0M $692.0M
YoY Change 3.32% 25.22% 14.0%
Total Long-Term Liabilities $715.0M $5.597B $6.064B
YoY Change -88.21% 873.39% 4.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $543.0M $709.0M $689.0M
Total Long-Term Liabilities $715.0M $5.597B $6.064B
Total Liabilities $1.258B $6.306B $7.656B
YoY Change -83.57% 433.5% 2.6%
SHAREHOLDERS EQUITY
Retained Earnings -$7.166B -$5.370B
YoY Change 0.52%
Common Stock $5.006B $5.004B
YoY Change 0.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.183B -$389.0M -$426.0M
YoY Change
Total Liabilities & Shareholders Equity $4.974B $6.958B $7.230B
YoY Change -31.2% -2.79% 7.93%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q1
OPERATING ACTIVITIES
Net Income -$1.796B -$67.00M -$67.00M
YoY Change 2580.6% -119.36% 3250.0%
Depreciation, Depletion And Amortization $119.0M $114.0M $118.0M
YoY Change 0.85% -12.31% -0.84%
Cash From Operating Activities $228.0M $136.0M $158.0M
YoY Change 44.3% 100.0% -21.0%
INVESTING ACTIVITIES
Capital Expenditures $30.00M -$62.00M $131.0M
YoY Change -77.1% -66.67% -194.24%
Acquisitions
YoY Change
Other Investing Activities $4.000M -$41.00M $2.000M
YoY Change 100.0% 720.0% 100.0%
Cash From Investing Activities -$12.00M -$103.0M -$182.0M
YoY Change -93.41% -46.07% 31.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$156.0M -38.00M $50.00M
YoY Change -412.0% -134.86% -87.86%
NET CHANGE
Cash From Operating Activities $228.0M 136.0M $158.0M
Cash From Investing Activities -$12.00M -103.0M -$182.0M
Cash From Financing Activities -$156.0M -38.00M $50.00M
Net Change In Cash $60.00M -5.000M $26.00M
YoY Change 130.77% -64.29% -94.51%
FREE CASH FLOW
Cash From Operating Activities $228.0M $136.0M $158.0M
Capital Expenditures $30.00M -$62.00M $131.0M
Free Cash Flow $198.0M $198.0M $27.00M
YoY Change 633.33% -22.05% -92.04%

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