$OVV
Ovintiv Inc.

2022 Q1 Form 10-Q Financial Statement

#000156459022019143 Filed on May 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $1.967B $1.838B
YoY Change 7.02% -30.46%
Cost Of Revenue $1.348B $819.0M
YoY Change 64.59% 30.62%
Gross Profit $619.0M $1.019B
YoY Change -39.25% -49.45%
Gross Profit Margin 31.47% 55.44%
Selling, General & Admin $551.0M $510.0M
YoY Change 8.04% 16.7%
% of Gross Profit 89.01% 50.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $264.0M $308.0M
YoY Change -14.29% -42.32%
% of Gross Profit 42.65% 30.23%
Operating Expenses $2.167B $1.643B
YoY Change 31.89% -12.79%
Operating Profit -$200.0M $195.0M
YoY Change -202.56% -74.31%
Interest Expense $74.00M $87.00M
YoY Change -14.94% -9.38%
% of Operating Profit 44.62%
Other Income/Expense, Net $27.00M $18.00M
YoY Change 50.0% 28.57%
Pretax Income -$246.0M $133.0M
YoY Change -284.96% -76.29%
Income Tax -$5.000M -$176.0M
% Of Pretax Income -132.33%
Net Earnings -$241.0M $309.0M
YoY Change -177.99% -26.6%
Net Earnings / Revenue -12.25% 16.81%
Basic Earnings Per Share -$0.94 $1.19
Diluted Earnings Per Share -$0.94 $1.16
COMMON SHARES
Basic Shares Outstanding 257.4M 260.1M
Diluted Shares Outstanding 257.4M 266.0M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $271.0M $9.000M
YoY Change 2911.11% -89.02%
Cash & Equivalents $271.0M $9.000M
Short-Term Investments
Other Short-Term Assets $2.000M $11.00M
YoY Change -81.82% -98.85%
Inventory
Prepaid Expenses
Receivables $1.797B $1.089B
Other Receivables $98.00M $130.0M
Total Short-Term Assets $2.168B $1.239B
YoY Change 74.98% -44.71%
LONG-TERM ASSETS
Property, Plant & Equipment $8.983B $9.514B
YoY Change -5.58% -36.91%
Goodwill $2.638B $2.633B
YoY Change 0.19% 3.05%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.111B $1.143B
YoY Change -2.8% 5.06%
Total Long-Term Assets $12.73B $13.30B
YoY Change -4.23% -30.99%
TOTAL ASSETS
Total Short-Term Assets $2.168B $1.239B
Total Long-Term Assets $12.73B $13.30B
Total Assets $14.90B $14.53B
YoY Change 2.52% -32.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.215B $1.868B
YoY Change 18.58% -8.83%
Accrued Expenses $63.00M $74.00M
YoY Change -14.86% 5.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.118B
YoY Change -100.0%
Total Short-Term Liabilities $3.983B $3.461B
YoY Change 15.08% 60.23%
LONG-TERM LIABILITIES
Long-Term Debt $4.775B $5.300B
YoY Change -9.91% -24.35%
Other Long-Term Liabilities $170.0M $196.0M
YoY Change -13.27% -51.24%
Total Long-Term Liabilities $4.945B $5.496B
YoY Change -10.03% -25.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.983B $3.461B
Total Long-Term Liabilities $4.945B $5.496B
Total Liabilities $10.22B $10.40B
YoY Change -1.77% -8.08%
SHAREHOLDERS EQUITY
Retained Earnings -$5.488B
YoY Change -770.9%
Common Stock $8.528B
YoY Change 0.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.684B $4.134B
YoY Change
Total Liabilities & Shareholders Equity $14.90B $14.53B
YoY Change 2.52% -32.42%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$241.0M $309.0M
YoY Change -177.99% -26.6%
Depreciation, Depletion And Amortization $264.0M $308.0M
YoY Change -14.29% -42.32%
Cash From Operating Activities $685.0M $827.0M
YoY Change -17.17% 46.11%
INVESTING ACTIVITIES
Capital Expenditures $451.0M $350.0M
YoY Change 28.86% -55.7%
Acquisitions
YoY Change
Other Investing Activities $34.00M -$28.00M
YoY Change -221.43% -78.46%
Cash From Investing Activities -$417.0M -$321.0M
YoY Change 29.91% -50.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $71.00M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -193.0M -507.0M
YoY Change -61.93% -5733.33%
NET CHANGE
Cash From Operating Activities 685.0M 827.0M
Cash From Investing Activities -417.0M -321.0M
Cash From Financing Activities -193.0M -507.0M
Net Change In Cash 76.00M -1.000M
YoY Change -7700.0% -98.85%
FREE CASH FLOW
Cash From Operating Activities $685.0M $827.0M
Capital Expenditures $451.0M $350.0M
Free Cash Flow $234.0M $477.0M
YoY Change -50.94% -312.95%

Facts In Submission

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CY2022Q1 ovv Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Non Cash Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedNonCashAmount
5000000
CY2021Q1 ovv Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Non Cash Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedNonCashAmount
0
CY2022Q1 us-gaap Contribution Of Property
ContributionOfProperty
4000000
CY2021Q1 us-gaap Contribution Of Property
ContributionOfProperty
4000000
CY2022Q1 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
671000000
CY2022Q1 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
790000000
CY2022Q1 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
600000000
CY2022Q1 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
452000000
CY2022Q1 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
432000000
CY2022Q1 ovv Contractual Obligation Due After Fourth Year
ContractualObligationDueAfterFourthYear
1972000000
CY2022Q1 us-gaap Contractual Obligation
ContractualObligation
4917000000

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