$OVV
Ovintiv Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020023338 Filed on May 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $2.643B $1.235B
YoY Change 114.01% -5.94%
Cost Of Revenue $627.0M $476.0M
YoY Change 31.72% 13.6%
Gross Profit $2.016B $759.0M
YoY Change 165.61% -15.1%
Gross Profit Margin 76.28% 61.46%
Selling, General & Admin $437.0M $487.0M
YoY Change -10.27% 77.74%
% of Gross Profit 21.68% 64.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $534.0M $377.0M
YoY Change 41.64% 37.09%
% of Gross Profit 26.49% 49.67%
Operating Expenses $1.884B $1.462B
YoY Change 28.86% 162.48%
Operating Profit $759.0M -$227.0M
YoY Change -434.36% -167.36%
Interest Expense $96.00M $87.00M
YoY Change 10.34% -152.1%
% of Operating Profit 12.65%
Other Income/Expense, Net $14.00M -$28.00M
YoY Change -150.0% 115.38%
Pretax Income $561.0M -$306.0M
YoY Change -283.33% -291.25%
Income Tax $140.0M -$61.00M
% Of Pretax Income 24.96%
Net Earnings $421.0M -$245.0M
YoY Change -271.84% -262.25%
Net Earnings / Revenue 15.93% -19.84%
Basic Earnings Per Share $1.62
Diluted Earnings Per Share $1.62 -$1.003M
COMMON SHARES
Basic Shares Outstanding 259.8M 244.3
Diluted Shares Outstanding 259.8M 244.3

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $82.00M $479.0M
YoY Change -82.88% 10.62%
Cash & Equivalents $82.00M $534.0M
Short-Term Investments
Other Short-Term Assets $958.0M $187.0M
YoY Change 412.3% -17.26%
Inventory
Prepaid Expenses
Receivables $918.0M $1.121B
Other Receivables $283.0M $315.0M
Total Short-Term Assets $2.241B $2.102B
YoY Change 6.61% 7.68%
LONG-TERM ASSETS
Property, Plant & Equipment $15.08B $7.839B
YoY Change 92.37% -14.02%
Goodwill $2.555B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.088B $1.162B
YoY Change -6.37% -19.86%
Total Long-Term Assets $19.26B $13.10B
YoY Change 47.1% -0.47%
TOTAL ASSETS
Total Short-Term Assets $2.241B $2.102B
Total Long-Term Assets $19.26B $13.10B
Total Assets $21.51B $15.20B
YoY Change 41.5% 0.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.049B $2.156B
YoY Change -4.96% 50.56%
Accrued Expenses $70.00M $92.00M
YoY Change -23.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $500.0M
YoY Change -100.0%
Total Short-Term Liabilities $2.160B $2.071B
YoY Change 4.3% 22.91%
LONG-TERM LIABILITIES
Long-Term Debt $7.006B $6.488B
YoY Change 7.98% 45.05%
Other Long-Term Liabilities $402.0M $545.0M
YoY Change -26.24% -74.57%
Total Long-Term Liabilities $7.408B $545.0M
YoY Change 1259.27% -91.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.160B $2.071B
Total Long-Term Liabilities $7.408B $545.0M
Total Liabilities $11.31B $7.676B
YoY Change 47.39% -7.9%
SHAREHOLDERS EQUITY
Retained Earnings $818.0M $510.0M
YoY Change 60.39%
Common Stock $8.463B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.19B $10.36B
YoY Change
Total Liabilities & Shareholders Equity $21.51B $15.20B
YoY Change 41.5% 0.58%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $421.0M -$245.0M
YoY Change -271.84% -262.25%
Depreciation, Depletion And Amortization $534.0M $377.0M
YoY Change 41.64% 37.09%
Cash From Operating Activities $566.0M $529.0M
YoY Change 6.99% 38.85%
INVESTING ACTIVITIES
Capital Expenditures $790.0M $736.0M
YoY Change 7.34% -244.88%
Acquisitions $0.00 -$94.00M
YoY Change -100.0%
Other Investing Activities -$130.0M -$54.00M
YoY Change 140.74% 575.0%
Cash From Investing Activities -$655.0M -$608.0M
YoY Change 7.73% 17.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $400.0M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.000M -448.0M
YoY Change -102.01% 202.7%
NET CHANGE
Cash From Operating Activities 566.0M 529.0M
Cash From Investing Activities -655.0M -608.0M
Cash From Financing Activities 9.000M -448.0M
Net Change In Cash -87.00M -524.0M
YoY Change -83.4% 85.16%
FREE CASH FLOW
Cash From Operating Activities $566.0M $529.0M
Capital Expenditures $790.0M $736.0M
Free Cash Flow -$224.0M -$207.0M
YoY Change 8.21% -123.28%

Facts In Submission

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CY2019Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
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CY2020Q1 us-gaap Repayments Of Unsecured Debt
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CY2019Q1 us-gaap Repayments Of Unsecured Debt
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CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2020Q1 us-gaap Payments Of Dividends Common Stock
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CY2019Q1 us-gaap Payments Of Dividends Common Stock
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CY2020Q1 us-gaap Finance Lease Principal Payments
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CY2019Q1 us-gaap Finance Lease Principal Payments
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2019Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q1 us-gaap Cash
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CY2019Q1 us-gaap Cash Equivalents At Carrying Value
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CY2019Q1 us-gaap Restricted Cash
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CY2020Q1 us-gaap Gain Loss From Price Risk Management Activity
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CY2020Q1 us-gaap Operating Leases Income Statement Sublease Revenue
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CY2019Q1 us-gaap Revenues
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CY2020Q1 ovv Transportation And Processing Costs
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CY2019Q1 ovv Transportation And Processing Costs
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CY2020Q1 us-gaap Direct Operating Costs
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CY2019Q1 us-gaap Direct Operating Costs
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CY2020Q1 ovv Purchased Product Costs
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CY2019Q1 ovv Purchased Product Costs
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CY2020Q1 us-gaap Depreciation Depletion And Amortization
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CY2019Q1 us-gaap Depreciation Depletion And Amortization
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CY2020Q1 us-gaap Asset Impairment Charges
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CY2019Q1 us-gaap Asset Impairment Charges
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CY2020Q1 us-gaap Asset Retirement Obligation Accretion Expense
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CY2019Q1 us-gaap Asset Retirement Obligation Accretion Expense
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CY2020Q1 us-gaap General And Administrative Expense
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CY2020Q1 us-gaap Operating Expenses
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CY2019Q1 us-gaap Operating Expenses
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CY2019Q1 us-gaap Interest Expense
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CY2019Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2020Q1 us-gaap Gain Loss On Disposition Of Assets1
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CY2019Q1 us-gaap Gain Loss On Disposition Of Assets1
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CY2020Q1 ovv Non Operating Income Expenses
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CY2019Q1 ovv Non Operating Income Expenses
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CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020Q1 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Net Income Loss
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CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
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CY2019 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties
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CY2019 us-gaap Costs Incurred Exploration Costs
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CY2019 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
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CY2020Q1 us-gaap Goodwill
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CY2019Q4 us-gaap Property Plant And Equipment Net
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CY2020Q1 us-gaap Assets
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CY2019Q4 us-gaap Assets
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CY2020Q1 us-gaap Contract With Customer Asset Net
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CY2020Q1 us-gaap Contract With Customer Liability
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CY2019Q4 us-gaap Contract With Customer Liability
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CY2019Q4 us-gaap Contract With Customer Asset Net
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CY2020Q1 us-gaap Receivables Long Term Contracts Or Programs
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CY2019Q4 us-gaap Receivables Long Term Contracts Or Programs
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CY2020Q1 us-gaap Revenue Remaining Performance Obligation
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CY2020Q1 us-gaap Interest Expense Debt
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CY2019Q1 us-gaap Interest Expense Debt
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CY2020Q1 us-gaap Finance Lease Interest Expense
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CY2019Q1 us-gaap Finance Lease Interest Expense
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CY2020Q1 ovv Interest Expense Recovery Other
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CY2019Q1 ovv Interest Expense Recovery Other
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CY2020Q1 us-gaap Interest Expense
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CY2019Q1 us-gaap Interest Expense
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CY2019Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2019Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2020Q1 us-gaap Current Income Tax Expense Benefit
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CY2019Q1 us-gaap Current Income Tax Expense Benefit
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CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2020Q1 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020Q1 ovv Operating Sublease Income Due Year Three
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CY2020Q1 ovv Operating Sublease Income Due Year Four
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CY2020Q1 ovv Operating Sublease Income Due Year Five
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CY2020Q1 ovv Operating Sublease Income Due Year Two
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CY2020Q1 ovv Acquisitions
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CY2019Q1 ovv Acquisitions
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CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2019Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2019Q1 us-gaap Payments For Proceeds From Productive Assets
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CY2020Q1 us-gaap Property Plant And Equipment Gross
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CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2019Q4 us-gaap Property Plant And Equipment Gross
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CY2020Q1 ovv Internal Costs Capitalized
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CY2019 ovv Internal Costs Capitalized
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CY2020Q1 ovv Number Of Finance Lease Arrangements
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CY2020Q1 ovv Operating Sublease Income Due Year Thereafter
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CY2020Q1 ovv Operating Sublease Income
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CY2020Q1 us-gaap Operating Lease Lease Income
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CY2019Q1 us-gaap Operating Lease Lease Income
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CY2020Q1 us-gaap Variable Lease Income
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CY2020Q1 ovv Revolving Credit Facility And Commercial Paper
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CY2019Q4 ovv Revolving Credit Facility And Commercial Paper
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CY2020Q1 us-gaap Debt Instrument Carrying Amount
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CY2019Q4 us-gaap Debt Instrument Carrying Amount
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CY2020Q1 ovv Increase In Value Of Debt Acquired
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CY2019Q4 ovv Increase In Value Of Debt Acquired
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CY2020Q1 us-gaap Debt Instrument Unamortized Discount
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CY2019Q4 us-gaap Debt Instrument Unamortized Discount
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CY2020Q1 us-gaap Long Term Debt
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CY2019Q4 us-gaap Long Term Debt
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CY2019Q4 us-gaap Long Term Debt Current
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CY2020Q1 us-gaap Long Term Debt Noncurrent
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CY2019Q4 us-gaap Long Term Debt Noncurrent
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CY2020Q1 us-gaap Long Term Debt
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CY2019Q4 us-gaap Long Term Debt
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CY2020Q1 us-gaap Repayments Of Unsecured Debt
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CY2020Q1 us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
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CY2020Q1 us-gaap Commercial Paper Noncurrent
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CY2020Q1 us-gaap Long Term Debt
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CY2020Q1 us-gaap Long Term Debt Fair Value
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CY2019Q4 us-gaap Long Term Debt
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CY2019Q4 us-gaap Long Term Debt Fair Value
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CY2020Q1 us-gaap Finance Lease Liability Noncurrent
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CY2019Q4 us-gaap Finance Lease Liability Noncurrent
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CY2020Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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CY2020Q1 us-gaap Deferred Compensation Sharebased Arrangements Liability Classified Noncurrent
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CY2019Q4 us-gaap Deferred Compensation Sharebased Arrangements Liability Classified Noncurrent
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CY2019Q4 us-gaap Other Sundry Liabilities Noncurrent
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CY2020Q1 us-gaap Other Liabilities Noncurrent
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CY2019Q4 us-gaap Other Liabilities Noncurrent
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CY2019Q4 us-gaap Asset Retirement Obligation
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CY2018Q4 us-gaap Asset Retirement Obligation
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CY2019 us-gaap Asset Retirement Obligation Liabilities Incurred
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CY2020Q1 ovv Asset Retirement Obligation Liabilities Acquired
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CY2019 ovv Asset Retirement Obligation Liabilities Acquired
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CY2020Q1 us-gaap Asset Retirement Obligation Liabilities Settled
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CY2019 us-gaap Asset Retirement Obligation Liabilities Settled
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CY2020Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
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CY2019 us-gaap Asset Retirement Obligation Revision Of Estimate
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CY2019 us-gaap Asset Retirement Obligation Accretion Expense
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CY2020Q1 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
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CY2019 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
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CY2020Q1 us-gaap Asset Retirement Obligation
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CY2019Q4 us-gaap Asset Retirement Obligation
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CY2019Q4 us-gaap Asset Retirement Obligation Current
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CY2020Q1 us-gaap Asset Retirement Obligations Noncurrent
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CY2020Q1 us-gaap Asset Retirement Obligation
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CY2019Q4 us-gaap Asset Retirement Obligation
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CY2020Q1 us-gaap Common Stock Shares Authorized
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CY2020Q1 us-gaap Preferred Stock Shares Authorized
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CY2019Q4 us-gaap Common Stock Shares Outstanding
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CY2019Q4 us-gaap Common Stock Value Outstanding
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CY2018Q4 us-gaap Common Stock Shares Outstanding
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CY2018Q4 us-gaap Common Stock Value Outstanding
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CY2020Q1 us-gaap Stock Repurchased And Retired During Period Shares
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CY2020Q1 us-gaap Stock Repurchased And Retired During Period Value
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CY2019 us-gaap Stock Repurchased And Retired During Period Shares
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CY2019 us-gaap Stock Repurchased And Retired During Period Value
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CY2020Q1 us-gaap Stock Issued During Period Shares New Issues
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CY2020Q1 us-gaap Stock Issued During Period Value New Issues
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CY2019 us-gaap Stock Issued During Period Shares New Issues
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CY2019 us-gaap Stock Issued During Period Value New Issues
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CY2020Q1 ovv Reclassification Of Share Capital From Common Stock To Additional Paid In Capital Due To Reorganization
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CY2019 ovv Reclassification Of Share Capital From Common Stock To Additional Paid In Capital Due To Reorganization
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CY2020Q1 us-gaap Common Stock Shares Outstanding
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CY2020Q1 us-gaap Common Stock Value Outstanding
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CY2019Q4 us-gaap Common Stock Shares Outstanding
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CY2019Q4 us-gaap Common Stock Value Outstanding
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CY2020Q1 ovv Reclassification Of Share Capital From Common Stock To Additional Paid In Capital Due To Reorganization
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CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2020Q1 us-gaap Dividends Common Stock
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CY2019Q1 us-gaap Dividends Common Stock
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CY2019Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
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CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2020Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
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CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
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CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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