2017 Q4 Form 10-Q Financial Statement

#000153983817000127 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $399.2M $301.3M $142.1M
YoY Change 115.77% 111.95% 26.96%
Cost Of Revenue $68.90M $58.80M $34.10M
YoY Change 90.86% 72.43% 3.96%
Gross Profit $330.2M $242.5M $108.0M
YoY Change 121.76% 124.54% 36.54%
Gross Profit Margin 82.72% 80.5% 75.99%
Selling, General & Admin $11.10M $11.89M $9.908M
YoY Change 8.82% 19.98% 31.65%
% of Gross Profit 3.36% 4.9% 9.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $105.1M $87.58M $44.75M
YoY Change 104.87% 95.72% -14.57%
% of Gross Profit 31.83% 36.12% 41.43%
Operating Expenses $116.6M $11.89M $135.4M
YoY Change 88.37% -91.22% -63.07%
Operating Profit $213.7M $142.6M $6.693M
YoY Change 145.37% 2031.17% -102.63%
Interest Expense -$108.8M -$9.192M -$10.23M
YoY Change 301.48% -10.18% -196.25%
% of Operating Profit -50.92% -6.44% -152.91%
Other Income/Expense, Net $800.0K -$59.83M -$7.293M
YoY Change -42.86% 720.43% -142.23%
Pretax Income $105.6M $82.81M -$600.0K
YoY Change 273.14% -13900.83% -99.75%
Income Tax -$23.96M $857.0K $0.00
% Of Pretax Income -22.69% 1.03%
Net Earnings $114.6M $73.02M -$2.230M
YoY Change 347.53% -3374.62% -98.58%
Net Earnings / Revenue 28.7% 24.24% -1.57%
Basic Earnings Per Share $1.17 $0.74 -$0.03
Diluted Earnings Per Share $1.16 $0.74 -$0.03
COMMON SHARES
Basic Shares Outstanding 98.17M shares 98.14M shares 77.17M shares
Diluted Shares Outstanding 98.37M shares 77.17M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $112.0M $30.00M $167.0M
YoY Change -93.28% -82.04% 279.55%
Cash & Equivalents $112.0M $30.21M $167.3M
Short-Term Investments
Other Short-Term Assets $5.434M $5.123M $3.018M
YoY Change 81.92% 69.75% -93.02%
Inventory $9.108M $4.834M $1.969M
Prepaid Expenses
Receivables $158.6M $104.0M $85.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $358.6M $193.9M $258.3M
YoY Change -79.99% -24.94% 48.91%
LONG-TERM ASSETS
Property, Plant & Equipment $7.344B $7.049B $3.224B
YoY Change 116.57% 118.63% 16.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.129M
YoY Change
Other Assets $62.46M $45.11M $43.43M
YoY Change 40.19% 3.86% -19.96%
Total Long-Term Assets $7.412B $7.094B $3.267B
YoY Change 108.36% 117.11% 15.94%
TOTAL ASSETS
Total Short-Term Assets $358.6M $193.9M $258.3M
Total Long-Term Assets $7.412B $7.094B $3.267B
Total Assets $7.771B $7.288B $3.526B
YoY Change 45.26% 106.7% 17.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $95.00M $75.00M $39.00M
YoY Change 97.92% 92.31% 21.88%
Accrued Expenses $314.0M $280.0M $112.0M
YoY Change 170.69% 150.0% -17.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $577.4M $417.6M $175.0M
YoY Change 175.83% 138.6% -12.56%
LONG-TERM LIABILITIES
Long-Term Debt $1.477B $1.256B $497.8M
YoY Change 33.59% 152.38% 1.8%
Other Long-Term Liabilities $26.00M $24.00M $18.00M
YoY Change 62.5% 33.33% 38.46%
Total Long-Term Liabilities $1.477B $1.256B $497.8M
YoY Change 33.59% 152.38% 1.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $577.4M $417.6M $175.0M
Total Long-Term Liabilities $1.477B $1.256B $497.8M
Total Liabilities $2.189B $1.701B $690.4M
YoY Change 64.43% 146.45% -1.63%
SHAREHOLDERS EQUITY
Retained Earnings -$37.13M -$151.7M -$545.0M
YoY Change -92.85% -72.17% 226.44%
Common Stock $5.291B $5.049B
YoY Change 25.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.255B $4.899B $2.515B
YoY Change
Total Liabilities & Shareholders Equity $7.771B $7.288B $3.526B
YoY Change 45.26% 106.7% 17.85%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $114.6M $73.02M -$2.230M
YoY Change 347.53% -3374.62% -98.58%
Depreciation, Depletion And Amortization $105.1M $87.58M $44.75M
YoY Change 104.87% 95.72% -14.57%
Cash From Operating Activities $250.6M $243.6M $104.5M
YoY Change 136.86% 133.11% -25.25%
INVESTING ACTIVITIES
Capital Expenditures -$412.4M -$545.5M -$803.1M
YoY Change 97.89% -32.08% 650.56%
Acquisitions
YoY Change
Other Investing Activities $44.80M $2.300M $1.400M
YoY Change -137.36% 64.29% -255.56%
Cash From Investing Activities -$367.6M -$543.2M -$801.6M
YoY Change 12.0% -32.24% 642.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 199.2M 313.2M 645.5M
YoY Change -88.43% -51.48% -2067.99%
NET CHANGE
Cash From Operating Activities 250.6M 243.6M 104.5M
Cash From Investing Activities -367.6M -543.2M -801.6M
Cash From Financing Activities 199.2M 313.2M 645.5M
Net Change In Cash 82.20M 13.60M -51.60M
YoY Change -94.52% -126.36% 5633.33%
FREE CASH FLOW
Cash From Operating Activities $250.6M $243.6M $104.5M
Capital Expenditures -$412.4M -$545.5M -$803.1M
Free Cash Flow $663.0M $789.1M $907.6M
YoY Change 111.01% -13.06% 267.75%

Facts In Submission

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us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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20376000 USD
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22608000 USD
CY2017Q3 us-gaap Derivative Liabilities
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14148000 USD
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22608000 USD
CY2017Q3 us-gaap Derivative Liabilities Current
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10003000 USD
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0 USD
CY2017Q3 us-gaap Derivative Liabilities Noncurrent
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4145000 USD
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us-gaap Earnings Per Share Basic
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CY2017Q3 us-gaap Earnings Per Share Basic
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0.74
us-gaap Earnings Per Share Basic
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3.81
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us-gaap Earnings Per Share Diluted
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CY2017Q3 us-gaap Earnings Per Share Diluted
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0.74
us-gaap Earnings Per Share Diluted
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3.80
us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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916000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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5525000 USD
CY2017Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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2167000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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6411000 USD
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us-gaap Gain Loss On Sale Of Derivatives
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4193000 USD
CY2017Q3 us-gaap Gain Loss On Sale Of Derivatives
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8000000 USD
us-gaap Gain Loss On Sale Of Derivatives
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11011000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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386000 USD
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2843000 USD
us-gaap Gas Gathering Transportation Marketing And Processing Costs
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8064000 USD
CY2017Q3 us-gaap Gas Gathering Transportation Marketing And Processing Costs
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3476000 USD
us-gaap Gas Gathering Transportation Marketing And Processing Costs
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9110000 USD
CY2016Q3 us-gaap Impairment Of Oil And Gas Properties
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46368000 USD
us-gaap Impairment Of Oil And Gas Properties
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245536000 USD
CY2017Q3 us-gaap Impairment Of Oil And Gas Properties
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0 USD
us-gaap Impairment Of Oil And Gas Properties
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0 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-192980000 USD
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82805000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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391543000 USD
us-gaap Income Loss From Equity Method Investments
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65000 USD
us-gaap Income Loss From Equity Method Investments
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309000 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
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0 USD
us-gaap Income Tax Expense Benefit
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368000 USD
CY2017Q3 us-gaap Income Tax Expense Benefit
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857000 USD
us-gaap Income Tax Expense Benefit
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4393000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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10590000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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18305000 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
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-216000 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
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-2000 USD
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7600000 USD
us-gaap Increase Decrease In Accounts Receivable
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23422000 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
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-1578000 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
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-283000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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0 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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1017000 USD
us-gaap Increase Decrease In Deferred Revenue
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595000 USD
us-gaap Increase Decrease In Deferred Revenue
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29657000 USD
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0 USD
us-gaap Increase Decrease In Deposit Other Assets
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-121391000 USD
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8564000 USD
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241000 USD
us-gaap Increase Decrease In Inventories
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2700000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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2064000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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9242000 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
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0 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
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us-gaap Interest Income Expense Net
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-29662000 USD
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19845000 USD
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28702000 USD
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1983000 USD
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4834000 USD
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22180000 USD
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32498000 USD
us-gaap Lease Operating Expense
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88113000 USD
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1701445000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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5349680000 USD
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7287568000 USD
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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6397000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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27640000 USD
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0 USD
us-gaap Natural Gas Midstream Costs
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0 USD
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4445000 USD
us-gaap Natural Gas Midstream Costs
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7127000 USD
CY2016Q3 us-gaap Natural Gas Midstream Revenue
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0 USD
us-gaap Natural Gas Midstream Revenue
NaturalGasMidstreamRevenue
0 USD
CY2017Q3 us-gaap Natural Gas Midstream Revenue
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1694000 USD
us-gaap Natural Gas Midstream Revenue
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4241000 USD
CY2016Q3 us-gaap Natural Gas Production Revenue
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6334000 USD
us-gaap Natural Gas Production Revenue
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14465000 USD
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14922000 USD
us-gaap Natural Gas Production Revenue
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37537000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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226346000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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638018000 USD
CY2016Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2017Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
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0 shares
us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
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809173000 shares
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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93564000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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186000 USD
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49476000 USD
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49715000 USD
CY2016Q4 us-gaap Oil And Gas Property Full Cost Method Gross
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5160261000 USD
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8869286000 USD
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142131000 USD
us-gaap Oil And Gas Revenue
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342095000 USD
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301253000 USD
us-gaap Oil And Gas Revenue
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805917000 USD
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6693000 USD
us-gaap Operating Income Loss
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391357000 USD
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55330000 USD
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90397000 USD
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2987000 USD
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907000 USD
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1647000 USD
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3000 USD
us-gaap Other Nonoperating Income
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9472000 USD
us-gaap Payments Of Debt Issuance Costs
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1714000 USD
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800000 USD
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510000 USD
us-gaap Payments To Acquire Additional Interest In Subsidiaries
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0 USD
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800000 USD
us-gaap Payments To Acquire Equity Method Investments
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188000 USD
us-gaap Payments To Acquire Mineral Rights
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137782000 USD
us-gaap Payments To Acquire Mineral Rights
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370855000 USD
us-gaap Payments To Acquire Oil And Gas Equipment
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22491000 USD
us-gaap Payments To Acquire Oil And Gas Property
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9805000 USD
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21534000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
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241609000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
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531489000 USD
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6397000 USD
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27640000 USD
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2987000 USD
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3509000 USD
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0 USD
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0 USD
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900675000 USD
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us-gaap Proceeds From Lines Of Credit
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98000000 USD
us-gaap Proceeds From Lines Of Credit
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533000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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1566000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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3584000 USD
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498000 USD
us-gaap Proceeds From Stock Options Exercised
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358000 USD
CY2016Q3 us-gaap Production Tax Expense
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9123000 USD
us-gaap Production Tax Expense
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25244000 USD
CY2017Q3 us-gaap Production Tax Expense
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18371000 USD
us-gaap Production Tax Expense
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49975000 USD
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us-gaap Profit Loss
ProfitLoss
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CY2017Q3 us-gaap Profit Loss
ProfitLoss
81948000 USD
us-gaap Profit Loss
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387150000 USD
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3390857000 USD
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7048607000 USD
CY2016Q4 us-gaap Property Plant And Equipment Other
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58290000 USD
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119825000 USD
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153678000 USD
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597000 USD
us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
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1600000 USD
us-gaap Repayments Of Lines Of Credit
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89000000 USD
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383500000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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500000 USD
CY2017Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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0 USD
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CY2016Q3 us-gaap Royalty Revenue
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0 USD
us-gaap Royalty Revenue
RoyaltyRevenue
0 USD
CY2017Q3 us-gaap Royalty Revenue
RoyaltyRevenue
0 USD
us-gaap Royalty Revenue
RoyaltyRevenue
0 USD
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9908000 USD
us-gaap Selling General And Administrative Expense
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32411000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
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11888000 USD
us-gaap Selling General And Administrative Expense
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37524000 USD
us-gaap Share Based Compensation
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20643000 USD
us-gaap Share Based Compensation
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19418000 USD
us-gaap Stock Issued During Period Value Acquisitions
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809173000 USD
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us-gaap Stock Issued During Period Value New Issues
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499000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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359000 USD
CY2016Q4 us-gaap Stockholders Equity
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CY2017Q3 us-gaap Stockholders Equity
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2108973000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2835295000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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4018292000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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5586123000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
225000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
261000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77167000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73318000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
98369000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96752000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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77167000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73318000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98144000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96491000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts included in or affecting the Company&#8217;s consolidated financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the consolidated financial statements are prepared. These estimates and assumptions affect the amounts the Company reports for assets and liabilities and the Company&#8217;s disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Company&#8217;s estimates. Any effects on the Company&#8217;s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, asset retirement obligations, the fair value determination of acquired assets and liabilities, equity-based compensation, fair value estimates of commodity derivatives and estimates of income taxes.</font></div></div>

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0001539838-17-000127.txt Edgar Link pending
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fang-20170930.xml Edgar Link completed
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fang-20170930_cal.xml Edgar Link unprocessable
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