2018 Q4 Form 10-Q Financial Statement

#000085847018000056 Filed on October 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $572.1M $545.2M $385.4M
YoY Change 62.25% 41.45% 24.16%
Cost Of Revenue $456.3M $398.7M $332.3M
YoY Change 55.36% 19.99% 23.99%
Gross Profit $115.8M $49.14M $50.20M
YoY Change 96.6% -2.11% -15.91%
Gross Profit Margin 20.24% 9.01% 13.02%
Selling, General & Admin $15.78M $12.38M $15.90M
YoY Change 38.43% -22.13% 22.31%
% of Gross Profit 13.63% 25.2% 31.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.60M $121.2M $146.3M
YoY Change 70.97% -17.16% 4.86%
% of Gross Profit 37.65% 246.58% 291.37%
Operating Expenses $34.74M $394.8M $332.1M
YoY Change -15.07% 18.85% 9.31%
Operating Profit $81.06M $176.1M $39.99M
YoY Change 350.36% 340.28% 1011.34%
Interest Expense -$14.41M -$9.671M -$8.800M
YoY Change 60.08% 9.9% -67.16%
% of Operating Profit -17.77% -5.49% -22.01%
Other Income/Expense, Net -$517.0K -$115.0K $5.083M
YoY Change -203.4% -102.26% -1364.43%
Pretax Income -$9.595M $161.7M $24.74M
YoY Change -124.48% 553.83% -235.28%
Income Tax -$165.5M $39.41M $7.151M
% Of Pretax Income 24.36% 28.91%
Net Earnings $156.5M $122.3M $17.59M
YoY Change 62.05% 595.61% -271.41%
Net Earnings / Revenue 27.36% 22.44% 4.56%
Basic Earnings Per Share $0.28 $0.04
Diluted Earnings Per Share $5.161M $0.28 $0.04
COMMON SHARES
Basic Shares Outstanding 431.2M shares 440.8M shares 462.5M shares
Diluted Shares Outstanding 443.1M shares 464.8M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $233.6M $238.1M $173.5M
YoY Change 64.62% 37.25%
Cash & Equivalents $2.287M $316.1M $510.3M
Short-Term Investments
Other Short-Term Assets $1.863M $2.692M $6.123M
YoY Change -33.32% -56.03% 49.12%
Inventory $11.08M $12.48M $13.00M
Prepaid Expenses
Receivables $292.6M $138.7M $179.0M
Other Receivables $0.00 $0.00 $7.400M
Total Short-Term Assets $544.5M $619.9M $718.0M
YoY Change -28.81% -13.67% 9.51%
LONG-TERM ASSETS
Property, Plant & Equipment $3.464B $3.366B $4.235B
YoY Change 12.74% -20.51% -10.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $163.2M $157.9M $148.9M
YoY Change 89.58% 6.05% 16.43%
Other Assets $27.50M $27.65M $27.05M
YoY Change 19.49% 2.22% 4.92%
Total Long-Term Assets $3.654B $3.559B $4.411B
YoY Change -7.78% -19.31% -9.55%
TOTAL ASSETS
Total Short-Term Assets $544.5M $619.9M $718.0M
Total Long-Term Assets $3.654B $3.559B $4.411B
Total Assets $4.199B $4.179B $5.129B
YoY Change -11.18% -18.52% -7.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $241.9M $263.6M $160.8M
YoY Change 1.64% 63.96% 0.4%
Accrued Expenses $25.23M $15.45M $27.31M
YoY Change -8.07% -43.42% 50.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $67.00M $237.0M
YoY Change -100.0% -71.73%
Total Short-Term Liabilities $287.3M $366.1M $438.2M
YoY Change -54.41% -16.46% 122.72%
LONG-TERM LIABILITIES
Long-Term Debt $1.226B $1.219B $1.285B
YoY Change 0.67% -5.11% -15.5%
Other Long-Term Liabilities $60.17M $61.89M $36.41M
YoY Change 51.48% 69.98% 23.76%
Total Long-Term Liabilities $1.286B $1.281B $1.321B
YoY Change 2.28% -3.05% -14.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $287.3M $366.1M $438.2M
Total Long-Term Liabilities $1.286B $1.281B $1.321B
Total Liabilities $2.111B $2.085B $2.484B
YoY Change -4.21% -16.07% -6.91%
SHAREHOLDERS EQUITY
Retained Earnings $1.608B $1.363B $1.230B
YoY Change 38.3% 10.8% -12.19%
Common Stock $1.811B $1.804B $1.786B
YoY Change 1.16% 0.99% 0.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.335B $1.075B $375.1M
YoY Change 209.98% 186.52% 22.24%
Treasury Stock Shares 53.41M shares 42.10M shares 12.90M shares
Shareholders Equity $2.088B $2.094B $2.645B
YoY Change
Total Liabilities & Shareholders Equity $4.199B $4.179B $5.129B
YoY Change -11.18% -18.52% -7.29%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $156.5M $122.3M $17.59M
YoY Change 62.05% 595.61% -271.41%
Depreciation, Depletion And Amortization $43.60M $121.2M $146.3M
YoY Change 70.97% -17.16% 4.86%
Cash From Operating Activities -$17.94M $60.72M $73.70M
YoY Change -139.25% -17.62% 19.06%
INVESTING ACTIVITIES
Capital Expenditures -$25.16M -$18.42M -$20.90M
YoY Change -5.77% -11.86% 34.84%
Acquisitions
YoY Change
Other Investing Activities $198.9M -$3.017M -$900.0K
YoY Change -972.34% 235.22% -101.78%
Cash From Investing Activities $173.7M -$21.44M -$21.80M
YoY Change -450.98% -1.66% -162.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.58M -1.573M -121.9M
YoY Change -190.12% -98.71% 389.56%
NET CHANGE
Cash From Operating Activities -17.94M 60.72M 73.70M
Cash From Investing Activities 173.7M -21.44M -21.80M
Cash From Financing Activities 37.58M -1.573M -121.9M
Net Change In Cash 193.4M 37.70M -70.00M
YoY Change -525.02% -153.86% -197.09%
FREE CASH FLOW
Cash From Operating Activities -$17.94M $60.72M $73.70M
Capital Expenditures -$25.16M -$18.42M -$20.90M
Free Cash Flow $7.224M $79.14M $94.60M
YoY Change -90.02% -16.34% 22.22%

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0 USD
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us-gaap Operating Expenses
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us-gaap Operating Expenses
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us-gaap Operating Income Loss
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2794000 USD
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34052000 USD
us-gaap Payments For Repurchase Of Equity
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments To Acquire Equity Method Investments
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23382000 USD
us-gaap Payments To Acquire Equity Method Investments
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us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
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us-gaap Payments To Explore And Develop Oil And Gas Properties
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647503000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
29396000 USD
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us-gaap Proceeds From Payments For Other Financing Activities
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42000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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32711000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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675525000 USD
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5207225000 USD
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82670000 USD
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86953000 USD
CY2017Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
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CY2018Q3 us-gaap Proved Oil And Gas Property Successful Effort Method
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CY2017Q4 us-gaap Receivables Net Current
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216004000 USD
CY2018Q3 us-gaap Receivables Net Current
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us-gaap Repayments Of Long Term Debt
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237000000 USD
us-gaap Results Of Operations Dry Hole Costs
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2842000 USD
us-gaap Results Of Operations Dry Hole Costs
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56425000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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1162430000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
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1362797000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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386252000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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RevenueFromContractWithCustomerExcludingAssessedTax
1473475000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
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9200000000 USD
CY2017Q3 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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CY2018Q3 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
1471847000 USD
CY2018Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
30100000 shares
CY2018Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
22900000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
644200000 USD
CY2017Q4 us-gaap Stockholders Equity
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2523905000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q3 us-gaap Taxes Excluding Income And Excise Taxes
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9194000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
26562000 USD
CY2018Q3 us-gaap Taxes Excluding Income And Excise Taxes
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2852000 USD
us-gaap Taxes Excluding Income And Excise Taxes
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15434000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
14935926 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
42080250 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
42100000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
27100000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
430576000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1074708000 USD
CY2017Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
190474000 USD
CY2018Q3 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
199219000 USD
CY2017Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-4742000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
42766000 USD
CY2018Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-3496000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
18726000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
3700000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
464780000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
466010000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
443110000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
452313000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
462498000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
464194000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
440772000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
450445000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:0px;padding-left:0px;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Certain reclassifications have been made to prior year statements to conform with the current year presentation. These reclassifications had no impact on previously reported stockholders' equity, net income or cash flows.</font></div></div>

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