$PTEN
PATTERSON UTI ENERGY INC

2012 Q4 Form 10-Q Financial Statement

#000119312512441480 Filed on October 30, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $652.8M $643.6M $673.8M
YoY Change -9.91% -4.48% 77.93%
Cost Of Revenue $404.7M $397.4M $416.3M
YoY Change -7.71% -4.54% 82.75%
Gross Profit $248.1M $246.2M $257.5M
YoY Change -13.31% -4.39% 70.64%
Gross Profit Margin 38.01% 38.25% 38.21%
Selling, General & Admin $16.20M $17.22M $15.96M
YoY Change 3.85% 7.93% 20.89%
% of Gross Profit 6.53% 7.0% 6.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $132.8M $142.4M $110.7M
YoY Change 4.08% 28.64% 29.63%
% of Gross Profit 53.53% 57.84% 42.99%
Operating Expenses $148.9M $17.22M $15.96M
YoY Change 4.05% 7.93% -83.83%
Operating Profit $99.20M $88.59M $132.3M
YoY Change -30.68% -33.03% 153.44%
Interest Expense -$5.700M $7.207M $3.835M
YoY Change 29.55% 87.93% -161.85%
% of Operating Profit -5.75% 8.13% 2.9%
Other Income/Expense, Net $0.00 -$6.434M -$3.413M
YoY Change 88.51% -1237.67%
Pretax Income $94.40M $82.16M $128.9M
YoY Change -32.33% -36.25% 176.57%
Income Tax $35.60M $31.35M $46.95M
% Of Pretax Income 37.71% 38.16% 36.43%
Net Earnings $58.90M $50.81M $81.93M
YoY Change -32.76% -37.99% 178.67%
Net Earnings / Revenue 9.02% 7.89% 12.16%
Basic Earnings Per Share $0.34 $0.53
Diluted Earnings Per Share $405.9K $0.33 $0.53
COMMON SHARES
Basic Shares Outstanding 149.4M shares 149.8M shares 152.6M shares
Diluted Shares Outstanding 150.5M shares 154.1M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.7M $83.50M $10.60M
YoY Change 363.18% 687.74% -85.66%
Cash & Equivalents $110.7M $83.47M $10.65M
Short-Term Investments
Other Short-Term Assets $43.90M $43.22M $182.9M
YoY Change -10.15% -76.37% 63.6%
Inventory $26.89M $25.71M $25.60M
Prepaid Expenses
Receivables $465.5M $470.8M $472.2M
Other Receivables $0.00 $800.0K $0.00
Total Short-Term Assets $700.0M $695.2M $691.3M
YoY Change -8.49% 0.57% 53.11%
LONG-TERM ASSETS
Property, Plant & Equipment $3.615B $3.523B $3.026B
YoY Change 14.15% 16.44% 26.21%
Goodwill $153.8M $153.8M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.30M $24.56M $93.20M
YoY Change 80.51% -73.64% 49.12%
Total Long-Term Assets $3.857B $3.775B $3.295B
YoY Change 11.57% 14.55% 29.44%
TOTAL ASSETS
Total Short-Term Assets $700.0M $695.2M $691.3M
Total Long-Term Assets $3.857B $3.775B $3.295B
Total Assets $4.557B $4.470B $3.987B
YoY Change 7.94% 12.12% 33.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $188.8M $215.5M $268.0M
YoY Change -21.85% -19.58% 47.98%
Accrued Expenses $158.6M $156.7M $145.1M
YoY Change -3.64% 7.98% 15.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.250M $0.00 $10.00M
YoY Change -37.5% -100.0% 100.0%
Total Short-Term Liabilities $359.9M $372.2M $431.1M
YoY Change -14.05% -13.66% 38.17%
LONG-TERM LIABILITIES
Long-Term Debt $692.5M $600.0M $400.8M
YoY Change 40.61% 49.7% 321.89%
Other Long-Term Liabilities $6.589M $6.686M $9.100M
YoY Change -11.27% -26.53% 19.74%
Total Long-Term Liabilities $699.1M $6.686M $409.9M
YoY Change 9314.07% -98.37% 299.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $359.9M $372.2M $431.1M
Total Long-Term Liabilities $699.1M $6.686M $409.9M
Total Liabilities $1.916B $1.826B $1.560B
YoY Change 12.37% 17.04% 80.7%
SHAREHOLDERS EQUITY
Retained Earnings $2.549B $2.497B
YoY Change 11.81%
Common Stock $1.841M $1.840M
YoY Change 0.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $795.1M $734.9M
YoY Change 27.26%
Treasury Stock Shares $38.15M 34.70M shares
Shareholders Equity $2.641B $2.644B $2.427B
YoY Change
Total Liabilities & Shareholders Equity $4.557B $4.470B $3.987B
YoY Change 7.94% 12.12% 33.01%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $58.90M $50.81M $81.93M
YoY Change -32.76% -37.99% 178.67%
Depreciation, Depletion And Amortization $132.8M $142.4M $110.7M
YoY Change 4.08% 28.64% 29.63%
Cash From Operating Activities $222.9M $286.9M $220.6M
YoY Change 4.8% 30.05% 102.57%
INVESTING ACTIVITIES
Capital Expenditures -$229.7M -$232.2M -$283.8M
YoY Change -23.48% -18.18% 32.06%
Acquisitions
YoY Change
Other Investing Activities $2.300M $4.800M $1.600M
YoY Change -82.84% 200.0% -20.0%
Cash From Investing Activities -$227.3M -$227.6M -$282.3M
YoY Change -20.72% -19.38% 32.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.90M -52.30M 8.400M
YoY Change -63.38% -722.62% -89.69%
NET CHANGE
Cash From Operating Activities 222.9M 286.9M 220.6M
Cash From Investing Activities -227.3M -227.6M -282.3M
Cash From Financing Activities 31.90M -52.30M 8.400M
Net Change In Cash 27.50M 7.000M -53.30M
YoY Change 109.92% -113.13% 137.95%
FREE CASH FLOW
Cash From Operating Activities $222.9M $286.9M $220.6M
Capital Expenditures -$229.7M -$232.2M -$283.8M
Free Cash Flow $452.6M $519.1M $504.4M
YoY Change -11.76% 2.91% 55.78%

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pten Adjusted Income Loss From Continuing Operations Available To Common Shares
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233344000
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309677000
pten Common Stock Dividends Per Share Declared And Paid
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dei Trading Symbol
TradingSymbol
PTEN
dei Entity Registrant Name
EntityRegistrantName
PATTERSON UTI ENERGY INC
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Entity Central Index Key
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0000889900
dei Current Fiscal Year End Date
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us-gaap Costs And Expenses
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us-gaap Number Of Reportable Segments
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50344000
CY2012Q3 pten Adjusted Income Loss From Continuing Operations Available To Common Shares
AdjustedIncomeLossFromContinuingOperationsAvailableToCommonShares
50344000
CY2012Q3 pten Income Loss From Continuing Operations Allocable To Non Vested Restricted Shares
IncomeLossFromContinuingOperationsAllocableToNonVestedRestrictedShares
-462000
CY2012Q3 pten Pressure Pumping Operating Cost
PressurePumpingOperatingCost
129139000
CY2012Q3 pten Depreciation Depletion Amortization And Impairment
DepreciationDepletionAmortizationAndImpairment
142393000
CY2012Q3 pten Common Stock Dividends Per Share Declared And Paid
CommonStockDividendsPerShareDeclaredAndPaid
0.05

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