$DVN
DEVON ENERGY CORP/DE

2016 Q2 Form 10-Q Financial Statement

#000156459016022255 Filed on August 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2 2015 Q1
Revenue $2.488B $3.393B $3.265B
YoY Change -26.67% -24.77% -12.35%
Cost Of Revenue $383.0M $562.0M $606.0M
YoY Change -31.85% -3.44% 1.34%
Gross Profit $2.105B $2.831B $2.659B
YoY Change -25.64% -27.93% -14.97%
Gross Profit Margin 84.61% 83.44% 81.44%
Selling, General & Admin $1.593B $2.191B $1.745B
YoY Change -27.29% -6.57% 5.57%
% of Gross Profit 75.68% 77.39% 65.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $484.0M $814.0M $930.0M
YoY Change -40.54% -1.69% 25.85%
% of Gross Profit 22.99% 28.75% 34.98%
Operating Expenses $2.081B $3.027B $2.694B
YoY Change -31.25% -5.58% 11.55%
Operating Profit -$1.497B -$4.363B -$35.00M
YoY Change -65.69% -704.29% -104.92%
Interest Expense $84.00M -$143.0M $20.00M
YoY Change -158.74% -16.86% -121.51%
% of Operating Profit
Other Income/Expense, Net -$85.00M $9.000M -$149.0M
YoY Change -1044.44% -118.75% 302.7%
Pretax Income -$1.745B -$4.479B -$5.624B
YoY Change -61.04% -388.22% -1104.29%
Income Tax -$182.0M -$1.686B -$2.035B
% Of Pretax Income
Net Earnings -$1.570B -$2.816B -$3.599B
YoY Change -44.25% -517.19% -1210.8%
Net Earnings / Revenue -63.1% -82.99% -110.23%
Basic Earnings Per Share -$3.04 -$6.94 -$8.88
Diluted Earnings Per Share -$3.04 -$6.94 -$8.88
COMMON SHARES
Basic Shares Outstanding 518.0M 406.0M 406.0M
Diluted Shares Outstanding 518.0M 406.0M

Balance Sheet

Concept 2016 Q2 2015 Q2 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.723B $1.725B $1.858B
YoY Change -0.12% 1.11% -8.34%
Cash & Equivalents $1.723B $1.725B $1.858B
Short-Term Investments
Other Short-Term Assets $364.0M $1.394B $2.285B
YoY Change -73.89% 267.81% 453.27%
Inventory
Prepaid Expenses
Receivables $1.167B $1.557B $1.613B
Other Receivables $83.00M $54.00M $50.00M
Total Short-Term Assets $3.982B $4.730B $5.806B
YoY Change -15.81% 7.7% 15.66%
LONG-TERM ASSETS
Property, Plant & Equipment $16.82B $27.82B $31.46B
YoY Change -39.57% -24.8% -15.96%
Goodwill $4.159B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.288B $1.703B $1.753B
YoY Change 34.35% 29.41% 50.99%
Total Long-Term Assets $23.26B $35.80B $39.54B
YoY Change -35.02% -23.39% -17.19%
TOTAL ASSETS
Total Short-Term Assets $3.982B $4.730B $5.806B
Total Long-Term Assets $23.26B $35.80B $39.54B
Total Assets $27.24B $40.53B $45.34B
YoY Change -32.77% -20.72% -14.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $545.0M $1.035B $1.335B
YoY Change -47.34% -32.31% -15.56%
Accrued Expenses $150.0M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $350.0M $670.0M $1.448B
YoY Change -47.76% 41.05% -61.62%
Total Short-Term Liabilities $2.929B $3.998B $5.560B
YoY Change -26.74% -14.55% -26.65%
LONG-TERM LIABILITIES
Long-Term Debt $12.36B $11.38B $10.30B
YoY Change 8.63% -4.25% -12.25%
Other Long-Term Liabilities $1.011B $2.173B $2.295B
YoY Change -53.47% -15.45% -27.17%
Total Long-Term Liabilities $13.37B $13.55B $12.60B
YoY Change -1.33% -6.24% -15.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.929B $3.998B $5.560B
Total Long-Term Liabilities $13.37B $13.55B $12.60B
Total Liabilities $16.30B $25.28B $27.35B
YoY Change -35.54% -14.7% -15.26%
SHAREHOLDERS EQUITY
Retained Earnings -$2.970B
YoY Change
Common Stock $52.00M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.847B $15.32B $18.00B
YoY Change
Total Liabilities & Shareholders Equity $27.24B $40.61B $45.34B
YoY Change -32.91% -20.56% -14.07%

Cashflow Statement

Concept 2016 Q2 2015 Q2 2015 Q1
OPERATING ACTIVITIES
Net Income -$1.570B -$2.816B -$3.599B
YoY Change -44.25% -517.19% -1210.8%
Depreciation, Depletion And Amortization $484.0M $814.0M $930.0M
YoY Change -40.54% -1.69% 25.85%
Cash From Operating Activities $345.0M $1.101B $1.648B
YoY Change -68.66% -46.27% 16.88%
INVESTING ACTIVITIES
Capital Expenditures $11.00M $13.00M -$1.717B
YoY Change -15.38% -100.74% 8.46%
Acquisitions
YoY Change
Other Investing Activities $26.00M $8.000M -$399.0M
YoY Change 225.0% -99.69% -93.0%
Cash From Investing Activities -$335.0M -$1.447B -$2.116B
YoY Change -76.85% -280.88% -70.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $290.0M $1.034B
YoY Change -71.95%
Cash From Financing Activities 90.00M 210.0M 892.0M
YoY Change -57.14% -106.57% -51.63%
NET CHANGE
Cash From Operating Activities 345.0M 1.101B 1.648B
Cash From Investing Activities -335.0M -1.447B -2.116B
Cash From Financing Activities 90.00M 210.0M 892.0M
Net Change In Cash 100.0M -136.0M 424.0M
YoY Change -173.53% -60.58% -110.53%
FREE CASH FLOW
Cash From Operating Activities $345.0M $1.101B $1.648B
Capital Expenditures $11.00M $13.00M -$1.717B
Free Cash Flow $334.0M $1.088B $3.365B
YoY Change -69.3% -71.42% 12.43%

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CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
55000000
CY2016Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1667000000
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
690000000
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P14Y
CY2016Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30000000
CY2015Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
18000000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
58000000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30000000
dvn Amortization Expense Next Five Years
AmortizationExpenseNextFiveYears
117000000
us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
626000000
CY2016Q2 us-gaap Commercial Paper
CommercialPaper
0
CY2015Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1414000000
CY2014Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1399000000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
15000000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
31000000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
33000000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
51000000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
70000000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
61000000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
39000000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
38000000
us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
-30000000
us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
45000000
CY2016Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1517000000
CY2015Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1455000000
CY2016Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
44000000
CY2015Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
64000000
CY2015Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
1391000000
CY2016Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
125000000
CY2015Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
99000000
CY2016Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.24
CY2016Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.06
CY2015Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.24
CY2015Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.24
CY2016Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
165000000
CY2016Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
452000000
CY2015Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
126000000
CY2015Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1191000000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
330000000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
2971000000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
245000000
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27824000000
CY2015Q2 us-gaap Assets
Assets
40526000000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
3273000000

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