$DVN
DEVON ENERGY CORP/DE

2022 Q1 Form 10-Q Financial Statement

#000095017022007007 Filed on May 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $3.812B $2.050B
YoY Change 85.95% -1.77%
Cost Of Revenue $1.942B $489.0M
YoY Change 297.14% -15.4%
Gross Profit $1.870B $1.273B
YoY Change 46.9% -15.64%
Gross Profit Margin 49.06% 62.1%
Selling, General & Admin $94.00M $630.0M
YoY Change -85.08% -7.35%
% of Gross Profit 5.03% 49.49%
Research & Development $2.000M $3.000M
YoY Change -33.33% -97.32%
% of Gross Profit 0.11% 0.24%
Depreciation & Amortization $489.0M $467.0M
YoY Change 4.71% 16.46%
% of Gross Profit 26.15% 36.68%
Operating Expenses $585.0M $1.100B
YoY Change -46.82% -7.8%
Operating Profit $1.285B $173.0M
YoY Change 642.77% -45.25%
Interest Expense -$85.00M -$77.00M
YoY Change 10.39% 18.46%
% of Operating Profit -6.61% -44.51%
Other Income/Expense, Net $87.00M $36.00M
YoY Change 141.67% -16.28%
Pretax Income $1.262B -$32.00M
YoY Change -4043.75% -98.48%
Income Tax $267.0M -$248.0M
% Of Pretax Income 21.16%
Net Earnings $989.0M $213.0M
YoY Change 364.32% -111.73%
Net Earnings / Revenue 25.94% 10.39%
Basic Earnings Per Share $1.48 $0.33
Diluted Earnings Per Share $1.48 $0.32
COMMON SHARES
Basic Shares Outstanding 656.0M 649.0M
Diluted Shares Outstanding 658.0M 651.0M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.625B $1.878B
YoY Change 39.78% 22.99%
Cash & Equivalents $2.459B $1.683B
Short-Term Investments
Other Short-Term Assets $346.0M $334.0M
YoY Change 3.59% -66.53%
Inventory
Prepaid Expenses
Receivables $2.002B $1.089B
Other Receivables $56.00M $220.0M
Total Short-Term Assets $4.973B $3.467B
YoY Change 43.44% -14.5%
LONG-TERM ASSETS
Property, Plant & Equipment $15.07B $15.27B
YoY Change -1.31% 164.26%
Goodwill $753.0M $753.0M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $416.0M $402.0M
YoY Change 3.48%
Other Assets $333.0M $306.0M
YoY Change 8.82% 24.9%
Total Long-Term Assets $16.81B $16.99B
YoY Change -1.09% 139.67%
TOTAL ASSETS
Total Short-Term Assets $4.973B $3.467B
Total Long-Term Assets $16.81B $16.99B
Total Assets $21.78B $20.46B
YoY Change 6.46% 83.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $576.0M $564.0M
YoY Change 2.13% 27.03%
Accrued Expenses $15.00M $23.00M
YoY Change -34.78% 228.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.000M $226.0M
YoY Change -96.46% 3128.57%
Total Short-Term Liabilities $3.754B $2.945B
YoY Change 27.47% 89.51%
LONG-TERM LIABILITIES
Long-Term Debt $6.471B $7.042B
YoY Change -8.11% 63.96%
Other Long-Term Liabilities $974.0M $1.269B
YoY Change -23.25% 175.27%
Total Long-Term Liabilities $7.445B $8.311B
YoY Change -10.42% 74.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.754B $2.945B
Total Long-Term Liabilities $7.445B $8.311B
Total Liabilities $11.20B $11.26B
YoY Change -0.51% 78.38%
SHAREHOLDERS EQUITY
Retained Earnings $2.013B $218.0M
YoY Change 823.39% -83.2%
Common Stock $66.00M $67.00M
YoY Change -1.49% 76.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $19.00M
YoY Change
Treasury Stock Shares $300.0K
Shareholders Equity $9.300B $8.353B
YoY Change
Total Liabilities & Shareholders Equity $21.78B $20.46B
YoY Change 6.46% 83.57%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $989.0M $213.0M
YoY Change 364.32% -111.73%
Depreciation, Depletion And Amortization $489.0M $467.0M
YoY Change 4.71% 16.46%
Cash From Operating Activities $1.837B $592.0M
YoY Change 210.3% 48.74%
INVESTING ACTIVITIES
Capital Expenditures -$538.0M $499.0M
YoY Change -207.82% 17.41%
Acquisitions
YoY Change
Other Investing Activities $12.00M $369.0M
YoY Change -96.75% 1437.5%
Cash From Investing Activities -$526.0M -$130.0M
YoY Change 304.62% -67.9%
FINANCING ACTIVITIES
Cash Dividend Paid $667.0M $203.0M
YoY Change 228.57% 497.06%
Common Stock Issuance & Retirement, Net $211.0M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $533.0M
YoY Change
Cash From Financing Activities -959.0M -824.0M
YoY Change 16.38% 847.13%
NET CHANGE
Cash From Operating Activities 1.837B 592.0M
Cash From Investing Activities -526.0M -130.0M
Cash From Financing Activities -959.0M -824.0M
Net Change In Cash 354.0M -359.0M
YoY Change -198.61% 206.84%
FREE CASH FLOW
Cash From Operating Activities $1.837B $592.0M
Capital Expenditures -$538.0M $499.0M
Free Cash Flow $2.375B $93.00M
YoY Change 2453.76% -444.44%

Facts In Submission

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CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
17000000
CY2022Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-35000000
CY2021Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
11000000
CY2022Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
7000000
CY2021Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
7000000
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
462000000
CY2021Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
477000000
CY2022Q1 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
19000000
CY2021Q1 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
22000000
CY2022Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
443000000
CY2021Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
455000000
CY2022Q1 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
35000000
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
667000000
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.00
CY2021Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
203000000
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
30000000

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